Europe recession can affect PH markets

Facilities to receive and distribute natural gas are pictured on the grounds of gas transport and pipeline network operator Gascade in Lubmin, northeastern Germany, close to the border with Poland, on August 30, 2022. AFP Photo

By Ed Paolo Salting, Manila Times

EUROPEAN Union recession fears will definitely have an impact on the Philippines as a whole and the local markets, according to expert analysts.

The EU is also battling inflation as the eurozone's four largest economies — Germany, France, Italy and Spain — have had their growth forecasts for 2023 downgraded by the International Monetary Fund and World Bank.

The United Kingdom is also struggling with inflation, which is above 10 percent for the first time in 40 years as households struggle with rising energy bills as an offshoot of the Russia-Ukraine conflict.

What has the most impact on the EU economies is the Russia-Ukraine conflict, given its dependence on Russian crude and liquefied natural gas (LNG), which has been the subject of sanctions by both the US and EU member countries, who are also part of the North Atlantic Treaty Organization alliance.

The recent heat wave has also had an impact on agriculture, which was also affected by the conflict, given the inability of Ukraine to ship out grain exports from the Black Sea ports, which Russia has effectively blockaded.

Analysts at the Economist Intelligence Unit (EIU) of the economist group also said the inflationary pressure could go on for some time as countries in the bloc are looking for alternative sources of energy to curb their dependence on Russian LNG and crude oil, which will take some time to achieve.

"In the near term, we expect a recession in Europe in the last quarter of 2022-2023 as a result of energy shortages and sustained elevated inflation," the EIU said. "The winter of 2023-2024 will also be challenging, so we also expect high inflation and sluggish growth until at least 2024."

Higher interest rates are also imminent as the Federal Reserve in the US also declared a continued hawkish stance for interest rates on Aug. 27, 2022 until it wrestles inflation to the ground. The euro has lost parity to the US dollar as a result, and the European Central Bank has had to raise interest rates for the first time in 11 years. This will be tricky as there are a number of countries which are also in fiscal crisis, having wracked up additional debt at the height of the pandemic. A single rate hike is not possible for all EU member countries given the varying states of their respective economies.

Philstocks Financial Inc. senior research analyst Japhet Tantiangco and Rizal Commercial Banking Corp. chief economist Michael Ricafort said that a decline in the EU's economy has sparked concerns of a ripple effect across the globe, including the Philippines, in terms of exports and imports, investments and remittances.

'Storm clouds' loom over economy

"Based on the latest data, in the first half of 2022, the European Union accounted for 11.6 percent of the Philippines' total exports and 6.5 percent of the Philippines' total imports, and generated 11.7 percent of OFWs' (overseas Filipino workers) cash remittances total which was sent to the country," Tantiangco explained. "In terms of direct investments, the whole bloc delivered 6.9 percent of the total equity investments to the Philippines in the first 5 months of 2022."

Regina Capital Development Corp. Managing Director Luis Limlingan added that the Philippines is not an isolated case, as all economies that are dependent on the importation of commodities for their energy requirements will be affected as the EU will all try to look for other crude sources while transitioning to alternative energy sources.

He also said that there could be an opportunity here as well as there is potential for the country to export to Europe what they could be lacking from the supply disruptions from Russia.

Tantiangco also pointed out that based on economic data, Europe still plays an important part in the Philippines' foreign transactions as a decline in their economy is expected to have negative effects on the local economy, which may also weigh on market sentiment for Philippine companies with European operations such as Emperador and Monde Nissin.

ABS-CBN, TV5 call off investment deal

By Aric John Sy Cua

RIVAL networks ABS-CBN and TV5 have called off their investment deal, amid a hearing at the House of Representatives on their "merger."

Disclosures reveal that Sky Cable and Cignal, rivaling cable companies, have also terminated their deal.

"In disclosures to both the Philippine Stock Exchange and the Securities Exchange Commission today, Sky Vision Corporation ("Sky Vision"), ABS-CBN Corporation, Lopez, Inc., and Cignal Cable Corporation ("Cignal Cable"), announced that they have mutually agreed to terminate the Sale and Purchase Agreement dated August 10, 2022 covering the proposed acquisition by Cignal Cable of 38.88 percent equity interest in Sky Cable Corporation and the Debt Instruments Agreement dated August 10, 2022 covering the proposed subscription by Cignal Cable to an Exchangeable Debt Instrument to be issued by Sky Vision and the proposed acquisition by Cignal Cable of a Convertible Note issued by Sky Cable," a statement posted by ABS-CBN on social media said.

ABS-CBN said that the termination was formalized through a Memorandum of Agreement.

In addition, another disclosure read that the two networks have "mutually agreed to terminate" their August 10 investment agreement.

"In a separate disclosure, TV5 Network, Inc. ("TV5") and ABS-CBN Corporation ("ABS-CBN") also announced that they have mutually agreed to terminate the Investment Agreement dated August 10 2022 covering the proposed acquisition by ABS-CBN of 34.99 percent equity interest in TV5 and the Convertible Note Agreement dated August 10, 2022 covering the proposed subscription by ABS-CBN to a Convertible Note to be issued by TV5," according to the network.

"The termination was also formalized through a Memorandum of Agreement. The Parties confirmed that they have not implemented any of the transactions covered by the Investment Agreement and the Convertible Note Agreement."

TV5 has been broadcasting some ABS-CBN shows after the network's franchise was not renewed in 2020, which led to the deal between the two networks but Sagip Rep. Rodante Marcoleta was not in favor and called for a hearing in the House of Representatives on the matter.

No Learners Left Behind

 

No learners left behind: Nueva Vizcaya teacher sold seedlings to support her students’ load allowance

by Vina Medenilla, Manila Bulletin

Besides Covid-19, the country has also been dealing with an education crisis. The pandemic has forced schools to close down and students to learn from home. 

The government implemented distance or blended learning to help halt the spread of the virus and ensure educational continuity during the pandemic. This transition, however, leaves some students behind, especially those in geographically isolated and disadvantaged areas (GIDA). 

Distance learning demands space, equipment, internet connection, and other resources, which makes it more difficult for many students, educators, and families to have access to education.

Jennylin B. Carreon, 39, a faculty member of Nueva Vizcaya State University (NVSU) – Bambang Campus, has seen firsthand how Covid-19 has affected not only the health industry but also the education sector.

Jennylin Carreon uses her teaching profession as a platform to inspire students and youth to grow their own food. Amid the pandemic, she helped her students overcome the challenges of remote teaching and learning.

“Though it was a modular approach, the students still need to communicate with their professors through group chats, SMS, private message, teleconferencing, video, and phone calls.”

She continues, “With the classes that I handled during the semester, many of my students complained about slow internet connection and allowance to buy cellphone load.”

Some of Carreon’s students have jobs to make ends meet, and the remote learning setup has placed more pressure on them. Between 60 and 70 percent of the university’s student body are Indigenous People (IPs). Most of them reside in areas that have very limited to no access to the internet.

Carreon would hear stories that her students have to climb a mountain or a hill and walk for an hour or two just to catch a signal. “With these predicaments, I pondered on how to help my students,” she said.  

This professor, who enjoys gardening, started a campaign “seedlings for a cause,” which means that each seedling purchased from her garden enables a student to have money for mobile data.

She began selling seedlings of herbs, ornamentals, fruit trees, and other edible crops in October 2020 and has generated more than P10,000 from donations and seedling sales.

In the Instagram post she used to announce the fundraising initiative, she revealed that 94 out of 118 of her students (or 79.7%) rely on their phones for remote learning. “All proceeds will become a circulating fund for their [cellphone] load. Mechanics will be based on a raffle draw per week. Everything will be [transparently] accounted for.”

This fundraising campaign has also motivated others to pitch in. Carreon shared, “One co-teacher sponsored cellphone load for 10 students, one former college classmate sponsored one student for his cellphone load for the whole month, a former student sponsored cellphone load worth P1,000 and a neighbor who has a cellphone load business volunteered the loading of their cellphones without charge.”

All the proceeds were used to fund the mobile load of her students throughout the semester. Every week, a P50 cellphone load was given away to at least five students from all of her six classes.

Letzten Tage des Tankrabatts: Spritpreise werden wieder deutlich ansteigen

Ende des Tankrabatts: Ab Donnerstag gibt es keine Senkung der Energiesteuer auf Kraftstoffe in Deutschland mehr.

Berlin - Mit dem Ende der auch Tankrabatt genannten Entlastungsmaßnahme müssen sich Autofahrer auf deutlich steigende Spritpreise einstellen. Rechnerisch sind 35 Cent für Benzin und 17 Cent für Diesel möglich - um diese Summen wurde die Steuerlast zuvor gesenkt. Die Regelung galt seit 1. Juni gemeinsam mit dem 9-Euro-Ticket, um Verbraucher angesichts hoher Energiepreise zu entlasten.

Allerdings bedeutet das Ende des Rabatts nicht, dass die Preise Punkt Mitternacht um diese Summe in die Höhe schnellen. So rechnet der ADAC etwa, dass Tankstellenbetreiber zuvor zum günstigen Steuersatz eingekaufte Treibstoffmengen weiter günstiger abgeben. Nach Angaben verschiedener Unternehmensverbände handelt es sich dabei aber um vergleichsweise kleine Mengen. Der Bundesverband freier Tankstellen (BFT) rechnet deshalb mit einem deutlichen Preisaufschlag schon in den frühen Morgenstunden. (dpa) 

Julia Barretto is sizzling hot in Vivamax's latest drama-romance

By Tessa Mauricio-Arriola, Manila Times

Because she was only 10 years old when she set her dainty little feet on the rough yet sparkling road of show business, many still think of Julia Barretto as the pretty little girl who stole the screen from the alien "Kokey" in a 2017 ABS-CBN prime-time hit. She has since had a string of blockbuster movies that proved her acting mettle via stories of young love and family dramas. Nevertheless, it's still difficult for those who've seen her blossom into the compelling actress and outspoken woman she is today to believe that Julia is indeed 25 and way past 

Babies will always be babies to those who nurture and adore them, no matter how old they grow. And, in the same way, I guess beloved child stars will always be part of the baby generation Filipino families hold close to their hearts.

It wouldn't be far-fetched to think that Julia may be aware of this common quirk in many elders. So much so that it might even explain why Julia has sent Instagram into a frenzy these last few weeks, posting sexy swimsuit photos of herself from beach getaways that have gone viral, viral, viral.

It could well be Julia's way of preparing the public for the opening of her latest movie, "Expensive Candy," where she plays the role of a sex worker. For definitely, one look at the outcome of her stripper-clad photoshoot for the Vivamax movie will jolt sentimental folks to the reality that the pretty little niece of Gretchen and Claudine Barretto and promising daughter of actress-politician Marjorie is little no more.

Julia remains as pretty and promising as ever in her continued rise to the top of her game. She is also very determined too to keep growing in her craft. Practically giving her everything to the biz for the last 15 years, Julia certainly deserves to spread her wings wherever she decides. That is, even if it means surprisingly all and sundry by bearing skin and lots of it to effectively bring a character to life.

Steamy from the get-go, Expensive Candy is not at all about the raunchiness which many Vivamax titles have come to be known for.

According to the story's brainchild, blockbuster movie writer and director Jason Paul Laxamana, Expensive Candy is essentially a love story he can earnestly add to his acclaimed filmography. Direk JP, as everyone calls him, is the genius behind Viva's mega hits, "100 Tula Para Kay Stella," "The Day After Valentine's," and "Just a Stranger," to name a few.

In other words, substance can be expected of this daring movie, along with intense emotions as expertly delivered by Julia and her top-notch leading man.

Renato "Toto" Camaya (Carlo Aquino) is a high school teacher who falls in love at first sight with Candy after a night of paying to be with her.

Something about Candy leaves a mark in Toto's heart that he can't forget about. In trying to win her love, Toto spends time with Candy as much as possible, even if he has to pay for her time.

A humble man with a simple life, Toto's only dream is to be with Candy, and he is willing to do anything and give up everything for her. Sadly for the lovestruck teacher, Candy has different plans and definitely no intentions of having a stable relationship. Candy tells Toto she wants to make it big by doing something she's good at — getting attractive rich men to be with her, have them pay her loads of money, and live the luxurious life she has always desired.

Blushing ever so slightly as the bold and compelling trailer of Expensive Candy was shown at a digital media conference, Julia could not escape the question why she accepted such a daring role.

For the longest time, she would essay the role of a privileged and spoiled lady whose good heart prevails at the movie's end.

"Never akong makaka-no kay direk JP kahit ano pa yung ibigay niya o ipagawa sa akin," Julia, who had worked with direk JP in her fateful movie with boyfriend Gerald Anderson, "Between Maybes."

Besides her trust in the director, Julia added she was also drawn to the role because, "Number one, the story is really nice.

"Nung nabasa ko yung script, I immediately knew I wanted to do it, and I feel like I'm already at a point in my life where it's okay to get out of my comfort zone. So, yeah, I'm very excited to do this."

Laughingly she revealed that her mom Marjorie gave her the green light to crossover from her trademark roles into the daring world of Candy, knowing there is no turning back.

"Before doing the film, one Sunday lunch with the family, I told them about what was pitched to me. After a couple of months, noong dumating na sa akin 'yung script, pinabasa ko po 'yun ng buo sa mommy ko," Julia said.

"She really loves 'Between Maybes,' she loves direk JP, so she gave me the green light. Hindi lang management [Viva] ang nagbibigay ng green light, pati si Miss Marj nagbibigay din.

"My whole family is very supportive of it, and they really love direk JP, even Caloy, so they are very excited for this film."

Without a doubt, Candy is her most challenging role to date, evident from her preparations before filming began.

Besides taking sensual dance lessons, she found the most help by immersing herself in a real-life red light district.

"Unforgettable yung night namin ni direk sa Angeles City. We were able to visit what they also call the 'walking street' kung saan mismo kami nag-shoot."

To be able to talk to a sex worker, Julia narrated, "Tineybol ko siya. Naka-disguise po kasi kami nung una. Hindi po sure kung akala niya isa pa akong babae na interesado sa kanya at hindi niya alam kung anong gagawin ko sa kanya. Until later on, I had to introduce myself and kinailangan kong sabihin yung intention ko of being there. And nakasama rin namin siya sa shooting but I want to protect her identity so..." she trailed off.

"Tapos, naghanap po kami ng puwedeng reference ko for Candy, na ngayon, naging kaibigan ko rin. Marami pa sila and I did get a few tips and tricks and a little bit of their dance moves. The girls there are amazing."

Beyond prepping her to become Candy, Julia said that the immersion became all the more meaningful to her because of the new-found respect she has for sex workers.

"In understanding them, I understood Candy all the more. This movie really challenged me physically, mentally and emotionally. And I realized, si Candy kasi hindi naman siya about pagpapaseksi lang."

Expensive Candy also stars Denise Esteban, Quinn Carrillo, AJ Muhlach, Ivan Padilla, Bob Jbeili, Andre Yllana, Aica Veloso, Ashley Diaz, Aivy Rodriguez, Aurora Sevilla, Marissa Sanchez, Marnie Lapus, Jobelyn Manuel, Keagan De Jesus, Francis Maguindayao, Migo Valid, R-Ji, Mo, Valfer and Tomas.

Directed by Jason Paul Laxamana for Vivamax, the movie will also be shown nationwide in cinemas beginning September 14.

PH not producing enough salt – DA

WITH OR WITHOUT SALT A local salt maker continues to produce salt in some salt beds in Barangay Sta. Isabel, Kawit, Cavite on Thursday, Aug. 25, 2022. The Department of Trade and Industry said there is enough supply of salt in the country. PHOTO BY DENNIS ABRINA

By Bella Cariaso, Manila Times

AN OFFICIAL of the Department of Agriculture (DA) on Tuesday admitted that the country is not producing enough salt, resulting in the importation of at least 93 percent of its requirement.

During the hearing of the House Committee on Agriculture and Food, DA Undersecretary Kristine Evangelista said the country outsources most of the salt supply in the local market.

"As far as local production is concerned, admittedly we are not producing enough. The DTI is looking at the supply situation from a different perspective that they factored in importation, that is why they say we have enough but as far as DA is concerned, we must improve our production for us to meet our demand requirements," Evangelista said.

She added that salt makers stopped their operation when their business was affected by various issues, including the lower price of salt.

"We are looking into the production and yield of salt. This will also help our fisherfolks. This can also be another revenue for them. The BFAR (Bureau of Fisheries and Aquatic Resources) has a program to help our fisherfolk. I also requested a roadmap for our salt industry," Evangelista said.

"Aside from identifying areas for production, there will always be a need as far as technology is concerned for our marginalized fisherfolks and for them to improve their production level," she added.

Philippine Chamber of Agriculture and Food Inc. President Danilo Fausto earlier said local salt producers were adversely affected by the Republic Act 8172 or the "Act for Salt Iodization Nationwide" (ASIN).

Fausto said that the Department of Trade and Industry failed to comply with ASIN which mandates the agency to assist and support local salt manufacturers in upgrading their production technologies by helping them obtain soft loans and financial assistance for the procurement of iodization machines.

Kabayan party-list Rep. Ron Salo said he filed House Bill 1976 to revive the local salt industry.

PH imports 93% salt needs – Agri group

"We need to ensure comprehensive measures to uplift and revive the salt industry. Otherwise, we will see a completely dead salt industry," Salo said.

The country's yearly salt requirement is pegged at 600,000 metric tons.

In 2021, the country imported 647,000 metric tons of salt — 72 percent from Australia and 18.7 percent from China.

Davao City imposes strict curfew on minors

By Ruth Palo, Manila Times

DAVAO CITY: Col. Alberto Lupaz, chief of the Davao City Police Office, said the DCPO will intensify the implementation of curfew hours for minors in the city to ensure their safety and protection.

Lupaz has already directed all chiefs of police in the city to strictly impose the curfew which prohibits unescorted minors from loitering outside their houses between 10 p.m. to 4 a.m.

The directive came after a 14-year-old female from Toril District was rescued by the police in General Santos City on Sunday afternoon, August 28, after she was initially reported missing on Saturday evening, August 27.

Lupaz said the police will "rescue" minors who are found to be loitering outside their homes in the city and will be turned over at the Women and Children Protection Desk of police stations for temporary custody.

He also advised parents to ensure that their children are inside their residences before 10 p.m.

Meanwhile, Lupaz dismissed reports of rampant kidnapping incidents despite the recent news that went viral on social media about two minors who were allegedly abducted in the city.

"It was fake news," Lupaz said.

The said minors personally appeared at Davao City Police Office on Monday afternoon, August 29, with their parents.

The minors and their parents denied the allegation of kidnapping, claiming that they ran away from home because of personal problems.

Turbulence injures PAL passengers, crew

By Benjamin L. Vergara

AT least 12 people were rushed to hospital on Sunday night after Philippine Airlines (PAL) flight PR113 encountered severe turbulence two hours before its arrival in Manila from Los Angeles.

PAL spokesman Cielo Villaluna confirmed that nine passengers and three crew members were injured.

Villaluna said that as of August 29, one passenger remained confined at the hospital.

She said that PAL shouldered the medical expenses of the affected passengers, most of whom were seniors.

Villaluna said that "upon arrival of the flight in Manila at 10:30 p.m. [on] August 28, the injured passengers and crew were brought immediately to the hospital by the Ninoy Aquino International Airport medical team, accompanied by PAL ground staff."

"This turbulence was not detectable on the aircraft's onboard weather radar station system, hence there was no advance warning. We affirm that safety is our top priority and that Philippine Airlines is fully cooperating with the concerned airport and aviation authorities," Villaluna said.

A passenger who posted his experience on Facebook said that the injured were not wearing seat belts when the incident happened.

The passenger identified as George Angel, also said, "[The] pilot did not even warn passengers of turbulence."

Turbulence can be caused by many different conditions — wind, storms, jet steam and objects near the plane, such as mountain ranges.

The best condition for us

By Fr. Roy Cimagala *

IN the gospel, there is a part where Christ went to the house of Peter and cured Peter’s wife, after which many others who were sick came to be healed by Christ. Even evil spirits that possessed a few came out of those they possessed. (cfr. Lk 4,38-44)

We have to understand that the best thing for us to do, especially when we are faced with all sorts of problems and difficulties, is to go to Christ. Being with Christ, asking for his help is actually the best condition for us to be in, even as we also would exhaust all possible human means we have to resolve our predicaments.

To be with Christ is always doable. All we have to do is to rev up our faith which tells us that Christ is always around, eager to help us and even willing to offer his life for us. It’s always a question of faith.

As Christ himself said, “If you have faith the size of a mustard seed, you can say to this mountain, ‘Move from here to there,’ and it will move. Nothing will be impossible for you.” (Mt 17,20)

The faith of our Lady made possible the incarnation of the Son of God that led to our redemption. The faith of the apostles and all the other saints, despite their weaknesses, made them able to do what may be considered as impossible to do.

We should just learn how to deal with the difficult and the impossible things in our life with faith more than our human efforts alone. Let’s remember that as long as we are here on earth, we have to contend with all sorts of difficulties, trials and temptations. 

And as if these are not enough, we also have to contend with the truth of our faith that tells us that we are meant to pursue a supernatural goal that definitely cannot be achieved simply with our own human powers, no matter how excellent they are.

The secret is always to go and to be with God who can make the impossible possible. In all our affairs and situations in life, we should always go to God to ask for his help and guidance, and to trust his ways and his providence, even if the outcome of our prayers and petitions appears unanswered, if not, contradicted.

We should always remember that God never abandons us and is, in fact, all ready and prompt to come to our aid, albeit in ways that we may not realize, at first, just like what happened in that story of the two disciples on their way to Emmaus. (cfr. Lk 24,13-35)

We should not allow our feelings of sadness to be so dominant and pervasive that we shut off God’s many and often mysterious ways of helping us. If we do not pose a deliberate impediment to God’s ways, there is always hope. In our darkest moments, some light will always come piercing and dispelling the darkness away.

Everyday, we should find a way of how to be with God, fanning our desire to go to him always and sharpening our awareness of his constant presence and interventions in our life, etc.

We should strengthen our conviction that amid the varying situations in our life, the best condition for us to be in is to be with God.

* Chaplain Center for Industrial Technology and Enterprise (CITE), Talamban, Cebu City

Email: roycimagala@gmail.com

Support for the academe assured

For over two years of not having the traditional face-to-face learning modality, the Department of Education officially reopened its doors for students to physically engage in the four-corners of every classroom last August 22, 2022.

The full-swing of the face-to-face classes exposed urgent necessities in public schools, especially that classrooms are considered dormant since the outbreak of the pandemic. With this, the Provincial Government of Davao de Oro headed by Governor Dorothy Montejo Gonzaga assured to extend its support for the Department of Education in the province.

In the recent district teacher’s meeting conducted by DepEd New Bataan District, the Governor was represented by Executive Assistant Edward Macapili. In his talk, the executive assistant conveyed that the governor will support the educational institution towards providing education with an appropriate and a competitive standard. He also stressed that a conducive learning environment is vital on molding the minds of the younger generation, and this can be realized through working hand-in-hand with DepEd and the provincial government. The district meeting was attended by hundreds of public school teachers from New Bataan District, school principals and staff, and municipal officials of New Bataan.

Not only a good school curriculum can determine the efficacy and efficiency of teaching methods for students, but also the physical atmosphere where the delivery of the instruction will take place. This is where the support from the governor will go in, through the improvement and provision of school amenities in public schools.

During the conduct of the Brigada Eskwela prior to the reopening of classes, Governor Dorothy Gonzaga alongside with Congressman Ruwel Peter Gonzaga showed their dedicated support for the public schools  through provision of school buildings, school tables and chairs, and funds needed by the parents-and-teachers association and other matters that concern school improvement. The working governor and congressman visited several public schools and personally reached-out the communities to acknowledge their concerns. (JA, PAO-IPRD DdO)