In a briefing the BSP hosted as part of the review of develop- ments in the second quarter, the anticipated ramping up of in- flation pressures in the waning months this year was to result from base impact, whose full force has, likewise, dissipated. “[F]ood prices peaked at around July and August [last year; and the reverse of the base effects, the re- verse pattern, should be peaking on the downside [this year]. As the food supply normalizes, then you will have the base effects dissipating. Next year base effects should have faded out,” BSP Director for the Department of Economic Research Zeno Ronald R. Abenoja said in the conference. In 2014 inflation started tick- ing upward in April and peaked at 4.9 percent in July and August. This year inflation decelerated in March and hit 1.2 percent in June, the lowest inflation on record for the country. “Inflation should begin to inch in the fourth quarter. Inflation B B C P RICE pressures were seen to remain muted in the immediate term but should begin to ramp up and approach 2 percent toward year-end, the Bangko Sentral ng Pilipinas (BSP) said on Friday. www.businessmirror.com.ph nSaturday 18, 2014 Vol. 10 No. 40 P. | | 7 DAYS A WEEK nFriday, July 24, 2015 Vol. 10 No. 288 A broader look at today’s business BusinessMirror THREETIME ROTARY CLUB OF MANILA JOURNALISM AWARDEE 2006, 2010, 2012 U.N. MEDIA AWARD 2008 PESO EXCHANGE RATES n US 45.2470 n JAPAN 0.3650 n UK 70.6306 n HK 5.8382 n CHINA 7.2868 n SINGAPORE 33.1480 n AUSTRALIA 33.3779 n EU 49.4142 n SAUDI ARABIA 12.0649 Source: BSP (23 July 2015) Inflation seen inching up by Q4 BSP SAYS AVERAGE RATE OF PRICE INCREASES TO GO BACK WITHIN TARGET RANGE TOWARD YEAREND INSIDE GAB FAB: CHILD WONDER AND A TRIBUTE TO MOTHERS »D4 D1 Life Friday, July 24, 2015 Editor: Gerard S. Ramos • [email protected] e smile C1 | M, F23, 2015 [email protected] [email protected] Editor: Jun Lomibao e Associated Press P hour as the pine trees whipped by, and the riders leaned left to right and back again having the ability to get uphill fast. You’ve got to have nerves of steel going downhill too. Chris Froome proved on Wednesday that he’s The 30-year-old Briton retained the leader’s yellow jersey as the Tour sped toward its crescendo in the Alps. 16-kilometer descent that dealt, perhaps, the final blow to Alberto Contador’s distant hope of a third Tour victory and doused the ambitions of promising French rider Thibaut Pinot for a stage win. They both lost time after hitting the asphalt on the way down from the treacherous Allos Pass. Germany’s Simon Geschke won the stage by seconds, at the end of the 161-kilometer ride from Digne-Les-Bains to Pra Loup ski resort. Fellow American Tejay van Garderen, who was race with a headache and a lack of energy after fighting a respiratory infection for several days. “It almost feels like I just want to disappear it was hard to call my wife and explain to her what was going on.” off multiple attacks from his top rivals. He showed great bike-handling skill on the Allos descent, where he whizzed in single-file with three of them, each kicking out knees on the twisting, narrow bends. Geschke was first down the slope, having ridden deck when his wheels slipped from under him on a left-hand bend. “It was really challenging,” said Geschke, whose stage victory was the fifth by a German on public television in Germany after a hiatus of several years because of doping scandals that tarnished the sport’s image. “The best day of my life as a rider,” he said of his win. Contador hit a hole and crashed in the downhill section, tearing his shorts. The 2007 and teammate Peter Sagan, and rode in more than two minutes after Froome. “My wheel slipped and I fell. We tried to fix my bike, but it wasn’t working and I took Peter’s as I could, but at the bottom of the climb I had to change back to one of my own bikes to minimize the losses.” Tinkoff-Saxo leader who was hoping to add the Tour to his Giro d’Italia win in May is now a substantial 6 minutes and 40 seconds behind the Team Sky rider overall—and all but out of contention. Froome and Nairo Quintana sprinted together for the line, with the Colombian just beating the Briton this time. Quintana remains second overall—still that the 2013 Tour winner was forced to match. With time running out for podium contenders to Alpine climbing before the largely ceremonial ride on the Champs-Elysees in Paris on Sunday. “My rivals are going to take bigger risks,” Froome The descent wasn’t unknown to Froome. He’d previously raced and trained on it and that inside been a weakness for me. I have always been quite comfortable on the descents,” he said. Alejandro Valverde of Spain, Quintana’s Movistar from fourth to third overall, 4:09 behind Froome. Froome’s Sky teammate Geraint Thomas climbed from sixth to fourth, vaulting over Contador, and is way out, up the two final climbs and alone down the descent was risky. But Geschke said he knew that “I took the only chance I had,” he said. “I thought, OK. If it doesn’t work out, it doesn’t work out.’” “It’s incredible it worked out,” he added. FROOME: THAT’S CRAZY C Team Sky to bow to calls to publicly release all of the data and files it has collected about the Tour de France leader’s riding performances at races if other teams did too, to bodies like the World Anti- Doping Agency or to the governing body of cycling, the International Cycling Union (UCI). he rides so strongly—”would mean giving away our training programs” to other teams and “that’s our away” to “other teams that haven’t made that kind of investment in the training” that Sky has. nnn A FEW more bends, and perhaps, Andrew Talansky of road” in his hot pursuit of bearded German Simon Geschke up the final climb of Stage 17. Geschke held on Wednesday for the fifth win by a German at this Tour. confident I was the best climber” in the group of riders he ascended with. But he added that “Geschke just had a bit too much time coming into that final climb” and “I ended up being He rode in 32 seconds behind the winner for Giant-Alpecin. nnn T route after on Tuesday’s rest day, has claimed World champion Michal Kwiatkowski of the Etixx- Quick Step team joined five others who have already pulled out before the finish at the Pra Loup ski station. nnn G in their bikes to cheat in cycling’s biggest races, great Allos izzed ree of g out sting, ends. BusinessMirror Motoring E1 Henry Ford Awards But very few petroleum trade - marks have the formulation to act as cleaning agent and prevent engines from losing its needed performance. One of them is the “Shell V-Power Nitro + ” premium performance fuels. “In our thrust to continue bringing exciting drives on the road, we at Shell believe that maintenance and performance go hand in hand. rough the Shell V-Power Nitro+ “Stay Ahead” cam - paign, we aim to help motorists win against the double threats of gunk and corrosion, which hinder their vehicles from performing at its best,” Pilipinas Shell Vice Presi - dent for Retail Anthony Lawrence Yam said. To prove how maintenance and performance work together, Pili - pinas Shell recently invited select members of the media for the “Win On All Terrains” event. Partnering with Ford Philippines, the group drove from Bonifacio Global City all the way to Clark, Pampanga. And to Diesel and Racing fuels, the activity was designed for a three-leg crusade involving different terrains. ree media teams were formed for the task of determining the winner at the end of the day. Teamed up with fellow scribes Mikka Fernandez-David and Fer - dz Vinzon, we boarded the Ford Focus Titanium variant for the ini - tial stretch. First stop was at Shell gas station in Balintawak, were we filled up with Shell V-Power Nitro + Gasoline. e lay over greeted us with the riddle challenge to test our wits. We then contin - ued traversing Edsa all the way to North Luzon Expressway and made another stop at Shell sta - tion in Tabang. ere, the group of motoring journalists played an - other game involving mechanical parts identification. Afterward, we navigated Subic–Clark–Tarlac Expressway until we reached Clark International Speedway, where an - other contest was waiting for us. e group reconvened and were briefed on the next hurdle, which highlighted the Shell V-Power Nitro+ Diesel. We were set to navigate the lahar landscape with unpredictable sandy terrain repre - senting the off-road experiment. Waiting for us were three Ford Ranger 4x4 Wildtraks that were put to the test in an extreme en - vironment. is writer took the wheel and traversed the quarry land all the way to the targeted destination. e objective was to complete the route, gather points through pit stops and, most im - portant, not to stall, that would result to points deduction. Soon after, rain poured and the sand started to soften making it more difficult for the tires, while water splashed from hollow rivers made it even worse, giving almost zero visibility to drive. We completed the task and made it back, while another group unfortunately got wedged, yet made it back safely. After enjoying sumptuous lo - cal cuisines, we headed back to the headquarters for a presenta - tion. is time, Malaysia-based Shell Fuel Scientist Mae Cayeta - no-Ascan explained the harmful contaminant associated with die - sel engines. “Gunk is sponge-like in nature and can absorb some of the fuel that has been injected in the engine thereby affecting the responsiveness of your vehicle. is is why Shell V-Power Nitro + fuels are formulated with power - ful cleaning agents that prevent and remove performance-robbing engine deposits,” Ascan said. In a compelling demonstration, one valve contaminated with gunk burned longer than the clean one proving the theory. demonstration was about corro - sion. Holding an engine piston as specimen, Ascan explained how the V-Power Nitro + Racing fuel transforms into a protective layer against corrosion. After the off-road ordeal, we tested our driving skills inside the race circuit. Excitement rose when we found out that the iconic Ford Mustang 5.0 V8 GT Premium would be the test car. e trial was facilitated and copiloted by no other than renowned race driver George Ramirez. Faced with ob - stacles, plastic pylons representing guides for braking and apexes, the groups were all excited to get their hands on the Mustang. And when the author boarded the pony, the signal to launch prompted a wide- open throttle delivering that neck-breaking acceleration. In fact, the mesmerizing engine roar created a diversion—in a good way—while listening to George’s instructions. After completing the lap, the anxious feeling for another round was evident among us. Nevertheless, it was a reward - ing experience for everyone. We returned to Manila and reached the final destination just in time for dinner. After tallying the scores from different challenges, our team garnered the most num - ber of points and were declared the winners. After all, the victory is what we needed after that long and tiring, yet exciting day. S UZUKI Philippines amps up the competition in the local compact car segment with the upcoming launch of its newest automobile of - fering—the all-new Suzuki Celerio. e newest variant of the well-loved Celerio will be available locally in manual transmission and continu - ous variable transmission (CVT), which will be priced at P507,000 and P542,000, respectively. With the car’s official release set this August, interested customers can already preview the all-new Suzuki Celerio on display in all Suzuki deal - erships nationwide and make early reservations to avail themselves of a P20,000 discount. e all-new Celerio boasts of being developed with an A compact design in mind. e A com - pact concept builds on the strengths and exceeds the limits of the A seg - ment car by implementing the “small on the outside, big in the inside” idea. As an A compact, the all-new Cele - rio promises to deliver the same dyna - mism and easy maneuvering that com - pact cars are known for, while offering impressive interior space and luggage capacity at the same time. Compared to its predecessor, the all-new Celerio features a longer body and wheelbase, a wider front and rear tread, and a big - ger headroom. e new Celerio variant still sports a K10B three-cylinder en - gine that produces a maximum output of 67 hp at 6,000 rpm and 90 Nm at 3,500 rpm for excellent fuel efficiency. Suzuki Philippines President Hiro - shi Suzuki shared, “We are very excited to introduce our A compact to the Fili - pino market. With its superior design, best-in-class luggage capacity, superb ease of driving, and outstanding fuel efficiency, we are confident that the all- new Suzuki Celerio is set to be the new standard in this segment.” www.suzuki.com.ph S R S. P F UEL is an important catalyst not only because it runs the vehicle, but mainly for the type and octane that are specifically formulated to produce the desired combustion. WIN ON ALL TERRAINS WIN AGAINST GUNK AND CORROSION SPORTS C1 CARA DELEVINGNE A TALE OF THREE CARS, FUELS, TERRAINS UNSCATHED IN THE ALPS LIFE D1 MOTORING E1 PHL SHOULD BE NATURAL PART OF SILK ROADZHAO Apec calls for more private sector investments in infra PREPARING FOR THE ‘BIG ONE’ Policemen and commuters cover their heads to simulate a powerful earthquake during a drill at a commercial center in suburban Taguig City on Thursday. Various earthquake drills took place nationwide, as officials and first responders assessed their emergency preparedness. AP/BULLIT MARQUEZ B D C I NVESTMENTS in infrastructure to support Asia Pacific’s rapid ur- ban development can be profit- able ventures for the private sector, particularly pension funds and in- surance firms, the Asia-Pacific Eco- nomic Cooperation’s (Apec) Work- shop on Infrastructure Financing and Capital Market Development on Thursday showed. At the forum held in Iloilo City, it was discussed that a large amount of capital worldwide is conservatively invested. According to the Organisation for Economic Co-operation and Devel- opment’s (OECD) Pension Markets in Focus 2014, about two-thirds of the total $96.2 trillion in institutional assets of investors worldwide are in- vested in insurance firms and pen- sion funds. The OECD publication said these pension funds have long-term li- abilities, which could potentially be matched by long-term assets, such as infrastructure. The Apec discussions revealed that the development of quality infrastructure has not kept pace with the rapid growth of Apec economies, resulting in traffic congestion, power shortages and inadequate public services, which threaten economic gains of many member-economies. These problems have earlier been identified in discussions made under the auspices of the Apec Finance Ministers’ Process in previous years. B R M C HINESE Ambassador Zhao Ji- anhua on Wednesday sought to repair the tattered rela- tions between Manila and Beijing by saying that the Philippines should be a “natural part” of the 21st Century Maritime Silk Road. Zhao made the statement during the celebration of the 40th anniversary of the start of diplomatic relations between the Philippines and China held in Manila. “When we talk about the 21st Century Maritime Silk Road, the Philippines is going to be a nat- ural part of this Silk Road; and it is China’s hope that we can work with the Philippines to establish and to start this Maritime Silk Road so that both our countries can benefit from this great initiative,” he said. In 2013 Chinese President Xi Jinping, wanting to revive the an- cient Silk Road, proposed that China and countries along the route would build together the 21st Century Maritime Silk Road. Zhao added that China is also promoting regional cooperation through the establishment of the Asia Infrastructure Investment Bank (AIIB), which would be operational by the end of the year. “We’re glad the Philippines par- ticipated in the process; and it is our sincere hope that before end of this year, the Philippines will become one of the founding members of AIIB,” he said. S “I,” A S “S R,” A S “A,” A
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In a briefing the BSP hosted as part of the review of develop-ments in the second quarter, the anticipated ramping up of in-f lation pressures in the waning months this year was to result from base impact, whose full force has, likewise, dissipated.
“[F]ood prices peaked at around July and August [last year; and the reverse of the base effects, the re-verse pattern, should be peaking on the downside [this year]. As the food supply normalizes, then you will have the base effects dissipating.
Next year base effects should have faded out,” BSP Director for the Department of Economic Research Zeno Ronald R. Abenoja said in the conference. In 2014 inflation started tick-ing upward in April and peaked at 4.9 percent in July and August. This year inflation decelerated in March and hit 1.2 percent in June, the lowest inflation on record for the country.
“Inflation should begin to inch in the fourth quarter. Inflation
B B C
PRICE pressures were seen to remain muted in the immediate term but should begin to ramp
up and approach 2 percent toward year-end, the Bangko Sentral ng Pilipinas (BSP) said on Friday.
www.businessmirror.com.ph n�Saturday 18, 2014 Vol. 10 No. 40 P. | | 7 DAYS A WEEKn�Friday, July 24, 2015 Vol. 10 No. 288
A broader look at today’s businessBusinessMirrorBusinessMirrorTHREETIME
ROTARY CLUB OF MANILA JOURNALISM AWARDEE2006, 2010, 2012U.N. MEDIA AWARD 2008
ROTARY CLUB
JOURNALISM
PESO EXCHANGE RATES n US 45.2470 n JAPAN 0.3650 n UK 70.6306 n HK 5.8382 n CHINA 7.2868 n SINGAPORE 33.1480 n AUSTRALIA 33.3779 n EU 49.4142 n SAUDI ARABIA 12.0649 Source: BSP (23 July 2015)
Inflation seen inching up by Q4BSP SAYS AVERAGE RATE OF PRICE INCREASES TO GO BACK WITHIN TARGET RANGE TOWARD YEAREND
INSIDE
GAB FAB:CHILD WONDER AND A TRIBUTE
TO MOTHERS »D4
D1
Life Friday, July 24, 2015
Life BusinessMirror
Life Editor: Gerard S. Ramos • [email protected]
DDEAR Lord, the smile on our face doesn’t mean our life is perfect. We just appreciate what we our life is perfect. We just appreciate what we our life is perfect. We just appreciate what we have and what God has blessed us. The smile have and what God has blessed us. The smile
on our face simply shows we can strive for more glories on our face simply shows we can strive for more glories because of hard work and to inspire others do the same. because of hard work and to inspire others do the same. The smile on our face spells out the difference of what The smile on our face spells out the difference of what we can create of what is life all about. The smile on our we can create of what is life all about. The smile on our face is the image and likeness of God shining on us to face is the image and likeness of God shining on us to make others be good and happy. The smile on our face make others be good and happy. The smile on our face looks for other smiling faces looking for peace, unity and looks for other smiling faces looking for peace, unity and love. Amen.
� e smile
QUOTEGALLERYINFO, JENNIE REYES AND LOUIE M. LACSONQUOTEGALLERYINFO, JENNIE REYES AND LOUIE M. LACSONWord&Life Publications • [email protected]@yahoo.com
CARA DELEVINGNE
PHOTOGRAPHED BY
BRIAN BOWEN SMITH
BEYOND STRIKING
POSES
B E L
IN Paper Towns—which opens in Philippine theaters on July 22 from 20th Century Fox—Quentin Jacobson, or simply Q, has been entranced with the mysterious Margo Roth Spiegelman since the day she and
her family moved into the house next door in his suburban neighborhood. He was nine years old at the time.
Close as children, now they have different groups of friends, little in common and no longer even talk to one another. Nat Wolff’s Q is academic, nerdy and hangs out with the equally nerdy Ben (Austin Abrams) and Radar (Justice Smith).
The charismatic Cara Delevingne is perfectly cast as the elusive Margo, who is adored by everyone. In contrast to Q, who wants to be a doctor and has his future mapped out, Margo is instinctive, impetuous and fearless. “It’s a bit of a mystery to me how charisma works, but Cara has more than anyone I’ve ever met. She has it by the boatload and she’s great as Margo,” Paper Towns author John Green says, who is also one of Towns author John Green says, who is also one of Townsthe film’s producers. “She’s an intense, fun person and a very good actress. One of the reasons that Cara is so good in the role is that, like Margo, she understands how frustrating it is to have people making broad conclusions about you based on very limited information.”
C D
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UNSC
ATHE
DUN
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UNSC
ATHE
DIN
THE
ALPS
IN TH
E AL
PSIN
THE
ALPS
B J
K
�e A
ssocia
ted
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PRA LO
UP, F
ranc
e—Th
e spe
edom
eter
clo
cked
betw
een 5
0 and
60 ki
lomet
ers p
er
hour
as th
e pine
tree
s whip
ped b
y, an
d the
rid
ers l
eane
d lef
t to r
ight a
nd ba
ck ag
ain
to ne
gotia
te th
e sna
king,
bum
py de
scent
.W
inning
the T
our d
e Fra
nce i
sn’t o
nly a
bout
ha
ving t
he ab
ility t
o get
uphil
l fast.
You’v
e got
to ha
ve
nerv
es of
stee
l goin
g dow
nhill
too.
Chris
Froo
me
prov
ed o
n W
edne
sday
that
he’s
go
t bot
h.Th
e 30-
year
-old
Brit
on re
tain
ed th
e lea
der’s
ye
llow
jers
ey as
the T
our s
ped
towa
rd it
s cr
esce
ndo
in th
e Alp
s.Th
e 17t
h sta
ge in
clude
d a ha
rrowi
ng
16-k
ilom
eter
desce
nt th
at de
alt, p
erha
ps, t
he fin
al blo
w to
Albe
rto Co
ntad
or’s d
istan
t hop
e of a
third
To
ur vi
ctory
and d
ouse
d the
ambit
ions o
f pro
misi
ng
Frenc
h ride
r Thib
aut P
inot f
or a
stage
win.
They
both
lost t
ime a
fter h
itting
the a
spha
lt on
the w
ay do
wn
from
the t
reac
hero
us Al
los Pa
ss.Ge
rman
y’s Si
mon
Ges
chke
won
the s
tage
by
surg
ing ou
t of a
brea
kawa
y bun
ch an
d kee
ping a
t bay
An
drew
Talan
sky o
f the
US,
who w
as se
cond
, by 3
2 se
cond
s, at
the e
nd of
the 1
61-k
ilom
eter
ride f
rom
Di
gne-
Les-B
ains t
o Pra
Loup
ski re
sort.
Fello
w Am
erica
n Teja
y van
Gar
dere
n, w
ho w
as
third
over
all a
s the
stag
e beg
an, p
ulle
d ou
t of t
he
race
with
a he
adac
he an
d a l
ack o
f ene
rgy a
fter
fight
ing
a res
pira
tory
infe
ctio
n fo
r sev
eral
day
s.“It
alm
ost f
eels
like I
just
want
to d
isapp
ear
right
now
,” a d
espo
nden
t Van
Gar
dere
n sa
id. “
It wa
s har
d to
look
my t
eam
mat
es in
the e
yes [
and]
it
was h
ard
to ca
ll m
y wife
and
expl
ain to
her
wha
t wa
s goi
ng on
.”Fr
oom
e, m
eanw
hile,
emer
ged
unsc
athe
d in
th
e firs
t of f
our p
unish
ing
days
in th
e Alp
s, sta
ving
off m
ultip
le at
tack
s fro
m h
is to
p riv
als.
He sh
owed
gr
eat b
ike-h
andl
ing
skill
on th
e Allo
s des
cent
, wh
ere h
e whi
zzed
in si
ngle
-file
with
thre
e of
them
, eac
h kic
king
out k
nees
on th
e twi
sting
, na
rrow
bend
s.Ge
schk
e was
first
down
the s
lope
, hav
ing r
idde
n of
f ahe
ad w
ith 50
kilo
met
ers s
till t
o go.
Pino
t hit
the
deck
whe
n his
whee
ls sli
pped
from
unde
r him
on a
left-h
and b
end.
“It w
as re
ally
chal
leng
ing,”
said
Ges
chke
, wh
ose s
tage
vict
ory w
as th
e fift
h by
a Ge
rman
on
this
Tour
, and
idea
l for
an ev
ent t
hat i
s bac
k on
pub
lic te
levis
ion
in G
erm
any a
fter a
hiat
us of
se
vera
l yea
rs be
caus
e of d
opin
g sc
anda
ls th
at
tarn
ished
the s
port’
s im
age.
“The
bes
t day
of m
y life
as a
rider
,” he s
aid of
hi
s win
.Co
ntad
or h
it a h
ole a
nd cr
ashe
d in
the
down
hill
sect
ion,
tear
ing
his s
horts
. The
2007
and
2009
cham
pion
was
force
d to
swap
bike
s with
te
amm
ate P
eter
Saga
n, an
d ro
de in
mor
e tha
n tw
o m
inut
es af
ter F
room
e.“M
y whe
el sl
ippe
d an
d I f
ell. W
e trie
d to
fix
my b
ike, b
ut it
was
n’t w
orkin
g an
d I t
ook P
eter
’s
bike
,” Con
tado
r said
. “I t
ried
to d
esce
nd as
wel
l as
I cou
ld, b
ut at
the b
otto
m of
the c
limb
I had
to
chan
ge b
ack t
o one
of m
y own
bike
s to m
inim
ize
the l
osse
s.”W
hile t
he Sp
aniar
d sta
ys in
fifth
plac
e, th
e Tin
koff-
Saxo
lead
er w
ho w
as ho
ping t
o add
the T
our
to hi
s Giro
d’Ita
lia w
in in
May
is no
w a s
ubsta
ntial
6 m
inute
s and
40 se
cond
s beh
ind th
e Tea
m Sk
y ride
r ov
erall
—an
d all b
ut ou
t of c
onte
ntion
.Fro
ome a
nd N
airo Q
uinta
na sp
rinte
d tog
ethe
r for
th
e line
, with
the C
olom
bian j
ust b
eatin
g the
Brito
n th
is tim
e. Qu
intan
a rem
ains s
econ
d ove
rall—
still
3:10 b
ehind
Froo
me—
but w
as ve
ry ac
tive o
ver t
he
day’s
five c
limbs
, tes
ting F
room
e with
burst
s of s
peed
th
at th
e 201
3 Tou
r winn
er w
as fo
rced t
o mat
ch.
With
tim
e run
ning o
ut fo
r pod
ium co
nten
ders
to
claw
back
a few
minu
tes,
Froom
e is e
xpec
ting m
ore
atta
cks i
n the
next
thre
e day
s of p
rogr
essiv
ely ha
rder
Al
pine c
limbin
g befo
re th
e lar
gely
cere
mon
ial rid
e on
the C
ham
ps-E
lysee
s in P
aris
on Su
nday
.“M
y riva
ls ar
e goin
g to t
ake b
igger
risks
,” Fro
ome
said.
“We a
re se
eing a
n all-
or-n
othin
g app
roac
h.”Th
e des
cent
was
n’t un
know
n to F
room
e. He
’d pr
eviou
sly ra
ced a
nd tr
ained
on it
and t
hat i
nside
kn
owled
ge he
lped h
im ne
gotia
te th
e ben
ds.
“I ha
ve ne
ver f
elt th
at de
scend
ing ha
s rea
lly
been
a we
akne
ss fo
r me.
I hav
e alw
ays b
een q
uite
com
forta
ble on
the d
esce
nts,”
he sa
id.Al
ejand
ro Va
lverd
e of S
pain
, Qui
ntan
a’s M
ovist
ar
team
mat
e who
has b
een r
idin
g stro
ngly,
rose
fro
m fo
urth
to th
ird ov
erall
, 4:0
9 beh
ind F
room
e. Fro
ome’s
Sky t
eam
mat
e Ger
aint T
hom
as cl
imbe
d fro
m si
xth t
o fou
rth, v
aulti
ng ov
er Co
ntad
or, a
nd is
6:
34 be
hind
his t
eam
lead
er.Ri
ding s
olo fo
r ove
r an h
our f
rom
such
a lon
g wa
y out
, up t
he tw
o fina
l clim
bs an
d alon
e dow
n the
de
scent
was
risky
. But
Ges
chke
said
he kn
ew th
at
othe
r ride
rs in
his gr
oup w
ere s
trong
er cl
imbe
rs, so
he
decid
ed to
shak
e the
m of
f as e
arly
as he
could
.“I
took
the o
nly c
hanc
e I ha
d,” he
said.
“I th
ough
t, OK
. If it
does
n’t w
ork o
ut, it
does
n’t w
ork o
ut.’”
“It’s i
ncre
dible
it wo
rked o
ut,” h
e add
ed.
FROO
ME:
THAT
’S CR
AZY
CHRIS
FROO
ME s
aid it
wou
ld b
e “cra
zy” f
or h
is Te
am Sk
y to b
ow to
calls
to p
ublic
ly re
leas
e all
of th
e dat
a and
file
s it h
as co
llect
ed ab
out t
he
Tour
de F
ranc
e lea
der’s
ridi
ng p
erfo
rman
ces a
t rac
es
and
in tr
ainin
g.Fro
ome s
aid Sk
y wou
ld su
rrend
er “e
very
thing
” if o
ther
team
s did
too,
to bo
dies l
ike th
e Wor
ld An
ti-Do
ping A
genc
y or t
o the
gove
rning
body
of cy
cling
, the
In
tern
ation
al Cy
cling
Unio
n (UC
I).Bu
t Fro
ome s
aid pu
blicly
relea
sing “
all m
y pow
er
data
, all m
y tra
ining
files
, all m
y rac
ing fil
es”—
which
he
said
need
ed to
have
a fu
ll und
ersta
nding
of w
hy
he rid
es so
stro
ngly—
”wou
ld m
ean g
iving
away
our
traini
ng pr
ogra
ms”
to ot
her t
eam
s and
“tha
t’s ou
r co
mpe
titive
adva
ntag
e.”He
adde
d: “O
bviou
sly it
’s cra
zy fo
r us j
ust t
o give
it
away
” to “
othe
r tea
ms t
hat h
aven
’t mad
e tha
t kind
of
inves
tmen
t in t
he tr
aining
” tha
t Sky
has.
nnn
A FEW
mor
e ben
ds, a
nd pe
rhap
s, An
drew
Talan
sky
migh
t hav
e got
him
.
The A
mer
ican r
ider s
aid he
sim
ply “r
an ou
t of
road
” in hi
s hot
pursu
it of
bear
ded G
erm
an Si
mon
Ge
schke
up th
e fina
l clim
b of S
tage
17. G
esch
ke he
ld on
W
edne
sday
for t
he fif
th w
in by
a Ge
rman
at th
is To
ur.Ta
lansk
y, wh
o ride
s for
Cann
onda
le-Ga
rmin,
said
he “t
houg
ht I h
ad a
good
chan
ce” a
nd “w
as pr
etty
co
nfide
nt I w
as th
e bes
t clim
ber”
in th
e gro
up of
rider
s he
asce
nded
with
.Bu
t he a
dded
that
“Ges
chke
just
had a
bit t
oo m
uch
time c
oming
into
that
final
clim
b” an
d “I e
nded
up be
ing
seco
nd. B
ut I d
id ev
eryt
hing I
could
.”He
rode
in 32
seco
nds b
ehin
d th
e win
ner f
or
Gian
t-Alp
ecin
.
nnn
THE To
ur d
e Fra
nce’s
toug
h St
age 1
7, an
Alp
ine
rout
e afte
r on T
uesd
ay’s
rest
day,
has c
laim
ed
anot
her r
ider
.W
orld
cham
pion M
ichal
Kwiat
kows
ki of
the E
tixx-
Quick
Step
team
joine
d five
othe
rs wh
o hav
e alre
ady
pulle
d out
befo
re th
e fini
sh at
the P
ra Lo
up sk
i sta
tion.
nnn
GGREG
LEM
OND
said
som
e ride
rs ha
ve pu
t mot
ors
in th
eir bi
kes t
o che
at in
cycli
ng’s b
igges
t rac
es,
includ
ing th
e Tou
r de F
ranc
e.Sp
eakin
g to t
he A
ssocia
ted P
ress
durin
g Sta
ge 17
of
the T
our, t
he th
ree-
time w
inner
of th
e rac
e said
: “I
belie
ve it
’s bee
n use
d in r
acing
. I be
lieve
it’s b
een u
sed
som
etim
es in
the G
rand
Tour
s.”Th
e UCI
said
it ha
s che
cked
bike
s for
mot
ors a
t this
To
ur an
d fou
nd no
ne.
LeM
ond,
howe
ver, f
elt “t
hey’r
e not
doing
enou
gh”
and d
escri
bed t
he U
CI’s c
heck
s as “
fluff”
and “
all w
ords
.”
nnn
THE bi
gges
t diff
iculty
on St
age 1
7 and
the T
our’s
fir
st da
y in t
he Al
ps is
n’t up
hill, b
ut do
wnhil
l.
A 16
-kilo
met
er de
scent
from
the A
llos
mou
ntain
pass
into a
valle
y befo
re th
e fin
al cli
mb t
o the
Pra L
oup s
ki sta
tion i
s tre
ache
rous
beca
use o
f its b
ends
and
unev
en ro
ad su
rface
.Ed
dy Se
igneu
r, spo
rting
direc
tor
of th
e IAM
team
, told
the r
ace
orga
nizers
’ web
site
befor
e the
star
t on
Wed
nesd
ay in
Dign
e-Le
s-Bain
s th
at th
e dow
nhill
is “e
xtrem
ely
dang
erous
,” and
“the
key o
f th
e sta
ge.” A
P
Chris
Froo
me s
howe
d grea
t Ch
ris Fr
oom
e sho
wed g
reat
bike-
hand
ling s
kill o
n the
Allos
bik
e-ha
ndlin
g skil
l on t
he Al
los
desce
nt, w
here
he w
hizze
d de
scent
, whe
re he
whiz
zed
in sin
gle-fi
le wi
th th
ree of
in
single
-file
with
three
of
his riv
als, e
ach k
icking
out
his riv
als, e
ach k
icking
out
knee
s on t
he tw
isting
, kn
ees o
n the
twist
ing,
narro
w be
nds.
narro
w be
nds.
GERM
ANY’
S Sim
on G
esch
ke
GERM
ANY’
S Sim
on G
esch
ke
cele
brat
es a
s he
cros
ses t
he fi
nish
ce
lebr
ates
as h
e cr
osse
s the
fini
sh
line
to w
in th
e 17
th st
age.
lin
e to
win
the
17th
stag
e. A
PAP
CHRI
S FRO
OME i
s fol
low
ed b
y Alb
erto
Losa
da, V
ince
nzo
Niba
li an
d Al
ejan
dro
Valv
erde
on
the
desc
ent.
AP
BusinessMirrorBusinessMirrorMotoringE1
Henry Ford Awards
But very few petroleum trade-marks have the formulation to act as cleaning agent and prevent engines from losing its needed performance. One of them is the “Shell V-Power Nitro +” premium performance fuels.
“In our thrust to continue bringing exciting drives on the road, we at Shell believe that maintenance and performance go hand in hand. �rough the Shell V-Power Nitro+ “Stay Ahead” cam-paign, we aim to help motorists
win against the double threats of gunk and corrosion, which hinder their vehicles from performing at its best,” Pilipinas Shell Vice Presi-dent for Retail Anthony Lawrence Yam said.
To prove how maintenance and performance work together, Pili-pinas Shell recently invited select members of the media for the “Win On All Terrains” event. Partnering with Ford Philippines, the group drove from Bonifacio Global City all the way to Clark, Pampanga. And to
test the V-Power Nitro + Gasoline, Diesel and Racing fuels, the activity was designed for a three-leg crusade involving di�erent terrains. �ree media teams were formed for the task of determining the winner at the end of the day.
Teamed up with fellow scribes Mikka Fernandez-David and Fer-dz Vinzon, we boarded the Ford Focus Titanium variant for the ini-tial stretch. First stop was at Shell gas station in Balintawak, were we �lled up with Shell V-Power Nitro + Gasoline. �e lay over greeted us with the riddle challenge to test our wits. We then contin-ued traversing Edsa all the way to North Luzon Expressway and made another stop at Shell sta-tion in Tabang. �ere, the group of motoring journalists played an-other game involving mechanical parts identi�cation. Afterward, we navigated Subic–Clark–Tarlac Expressway until we reached Clark International Speedway, where an-other contest was waiting for us. �e group reconvened and were
briefed on the next hurdle, which highlighted the Shell V-Power Nitro+ Diesel. We were set to navigate the lahar landscape with unpredictable sandy terrain repre-senting the o�-road experiment.
Waiting for us were three Ford Ranger 4x4 Wildtraks that were put to the test in an extreme en-vironment. �is writer took the wheel and traversed the quarry land all the way to the targeted destination. �e objective was to complete the route, gather points through pit stops and, most im-portant, not to stall, that would result to points deduction. Soon after, rain poured and the sand started to soften making it more di�cult for the tires, while water splashed from hollow rivers made it even worse, giving almost zero visibility to drive. We completed the task and made it back, while another group unfortunately got wedged, yet made it back safely.
After enjoying sumptuous lo-cal cuisines, we headed back to the headquarters for a presenta-
tion. �is time, Malaysia-based Shell Fuel Scientist Mae Cayeta-no-Ascan explained the harmful contaminant associated with die-sel engines. “Gunk is sponge-like in nature and can absorb some of the fuel that has been injected in the engine thereby a�ecting the responsiveness of your vehicle. �is is why Shell V-Power Nitro + fuels are formulated with power-ful cleaning agents that prevent and remove performance-robbing engine deposits,” Ascan said. In a compelling demonstration, one valve contaminated with gunk burned longer than the clean one proving the theory. Next demonstration was about corro-sion. Holding an engine piston as specimen, Ascan explained how the V-Power Nitro + Racing fuel transforms into a protective layer against corrosion.
After the o�-road ordeal, we tested our driving skills inside the race circuit. Excitement rose when we found out that the iconic Ford Mustang 5.0 V8 GT Premium
would be the test car. �e trial was facilitated and copiloted by no other than renowned race driver George Ramirez. Faced with ob-stacles, plastic pylons representing guides for braking and apexes, the groups were all excited to get their hands on the Mustang. And when the author boarded the pony, the signal to launch prompted a wide-open throttle delivering that neck-breaking acceleration. In fact, the mesmerizing engine roar created a diversion—in a good way—while listening to George’s instructions. After completing the lap, the anxious feeling for another round was evident among us. Nevertheless, it was a reward-ing experience for everyone.
We returned to Manila and reached the �nal destination just in time for dinner. After tallying the scores from di�erent challenges, our team garnered the most num-ber of points and were declared the winners. After all, the victory is what we needed after that long and tiring, yet exciting day.
MotoringE1 Friday, July 24, 2015
Henry Ford AwardsHenry Ford AwardsBest Motoring SectionBest Motoring Section2007, 2008, 2009, 20102007, 2008, 2009, 20102011 Hall of Fame2011 Hall of Fame
Editor: Tet Andolong
SUZUKI Philippines amps up the competition in the local compact car segment with the upcoming
launch of its newest automobile of-fering—the all-new Suzuki Celerio. �e newest variant of the well-loved Celerio will be available locally in manual transmission and continu-ous variable transmission (CVT), which will be priced at P507,000 and P542,000, respectively.
With the car’s o�cial release set this August, interested customers can already preview the all-new Suzuki Celerio on display in all Suzuki deal-erships nationwide and make early reservations to avail themselves of a P20,000 discount. �e all-new Celerio boasts of being developed with an A+boasts of being developed with an A+boasts of being developed with an Acompact design in mind. �e A+compact design in mind. �e A+compact design in mind. �e A com-pact concept builds on the strengths and exceeds the limits of the A seg-ment car by implementing the “small on the outside, big in the inside” idea.
As an A+As an A+As an A compact, the all-new Cele-rio promises to deliver the same dyna-mism and easy maneuvering that com-pact cars are known for, while o�ering impressive interior space and luggage capacity at the same time. Compared to its predecessor, the all-new Celerio features a longer body and wheelbase, a wider front and rear tread, and a big-ger headroom. �e new Celerio variant still sports a K10B three-cylinder en-gine that produces a maximum output of 67 hp at 6,000 rpm and 90 Nm at 3,500 rpm for excellent fuel e�ciency.
Suzuki Philippines President Hiro-shi Suzuki shared, “We are very excited to introduce our A+to introduce our A+to introduce our A compact to the Fili-pino market. With its superior design, best-in-class luggage capacity, superb ease of driving, and outstanding fuel e�ciency, we are con�dent that the all-new Suzuki Celerio is set to be the new standard in this segment.”
www.suzuki.com.ph
S R S. P
FUEL is an important catalyst not only because it runs the vehicle, but mainly for the type and
octane that are specifically formulated to produce the desired combustion.
WIN ON ALL TERRAINS Three types of cars with three di�erent fuels for three unique terrains.
THE convoy and initial media car assignments.WIN AGAINST GUNK AND CORROSION Shell Fuel Scientist, Mae Cayetano-Ascan, explains the bene�ts of using Shell V-Power+ fuels.”
SPORTS C1
CARA DELEVINGNE
A TALE OF THREE CARS, FUELS, TERRAINS
UNSCATHED IN THE ALPS
LIFE D1
MOTORING E1
PHL SHOULD BE NATURAL PART OF SILK ROADZHAO
Apec calls for more privatesector investments in infra
PREPARING FOR THE ‘BIG ONE’ Policemen and commuters cover their heads to simulate a powerful earthquake during a drill at a commercial center in suburban Taguig City on Thursday. Various earthquake drills took place nationwide, as officials and first responders assessed their emergency preparedness. AP/BULLIT MARQUEZ
B D C
INVESTMENTS in infrastructure to support Asia Pacific’s rapid ur-ban development can be profit-
able ventures for the private sector, particularly pension funds and in-surance firms, the Asia-Pacific Eco-nomic Cooperation’s (Apec) Work-shop on Infrastructure Financing and Capital Market Development on Thursday showed. At the forum held in Iloilo City, it was discussed that a large amount of capital worldwide
is conservatively invested.According to the Organisation for
Economic Co-operation and Devel-opment’s (OECD) Pension Markets in Focus 2014, about two-thirds of the total $96.2 trillion in institutional assets of investors worldwide are in-vested in insurance firms and pen-sion funds.
The OECD publication said these pension funds have long-term li-abilities, which could potentially be matched by long-term assets, such as infrastructure.
The Apec discussions revealed that the development of quality infrastructure has not kept pace with the rapid growth of Apec economies, resulting in traffic congestion, power shortages and inadequate public services, which threaten economic gains of many member-economies.
These problems have earlier been identified in discussions made under the auspices of the Apec Finance Ministers’ Process in previous years.
B R M
CHINESE Ambassador Zhao Ji-anhua on Wednesday sought to repair the tattered rela-
tions between Manila and Beijing by saying that the Philippines should be a “natural part” of the 21st Century Maritime Silk Road. Zhao made the statement during the celebration of the 40th anniversary of the start of diplomatic relations between the Philippines and China held in Manila. “When we talk about the 21st Century Maritime Silk Road, the Philippines is going to be a nat-ural part of this Silk Road; and it is China’s hope that we can work with the Philippines to establish and to start this Maritime Silk Road so that
both our countries can benefit from this great initiative,” he said. In 2013 Chinese President Xi Jinping, wanting to revive the an-cient Silk Road, proposed that China and countries along the route would build together the 21st Century Maritime Silk Road. Zhao added that China is also promoting regional cooperation through the establishment of the Asia Infrastructure Investment Bank (AIIB), which would be operational by the end of the year. “We’re glad the Philippines par-ticipated in the process; and it is our sincere hope that before end of this year, the Philippines will become one of the founding members of AIIB,” he said.
S “I,” A
S “S R,” AS “A,” A
BusinessMirror [email protected] Friday, July 24, 2015 A2
NewsDalian told to ensure delivery of MRTtrain-car prototype within the month
By Lorenz S. Marasigan
The transport agency has ordered Chinese train manufacturer Dalian Locomotive to deliver the
prototype train car for the Metro Rail Transit (MRT) Line 3 to the Philippines before the end of the month.
Zhao said the Chinese have a very long memory “because we have a very long history.” “Forty years of cooperation and friendship and they’re good, so we shall look into the future and should not be limited to the next 40 years, the future should be 400 years or maybe 4,000 years,” he said. “We are friends, we are partners, friends don’t fight against each other,” Zhao said to the applause of the audience. The Philippines and China relived the warm friendship and cooperation that have existed between them on
Wednesday, which started when former President Ferdinand Marcos established diplomatic relations during a visit to its capital, Beijing, in 1974, accompanied by then First Lady, now Rep. Imelda Marcos of First District of Leyte. Mrs. Marcos, along with Manila Mayor Joseph Estrada, were among the guests that coincided with the oath taking of new members of the Filipino-Chinese General Chamber of Commerce Inc. and the Philippine Chinese Charitable Association. A commemorative stamp was also launched.
Transportation Secretary Jo-seph Emilio A. Abaya noted that the decision came even though the project implementation team has yet to finish the last stage of the prototype’s inspection. The prototype is scheduled to be delivered on July 29. “ T h i s br i ng s u s a not her step closer to upgrading and
modernizing the MRT 3, and im-proving our services to the public. After the prototype’s arrival in the middle of next month, it will be assembled by the manufacturer’s personnel, and we will start static testing by September,” he said. The project-implementation team is currently going through a checklist with Dalian Locomotive
to ensure that the prototype train is compliant with the technical com-ponents and specifications of the train coaches. During its last visit in June, the team approved Dalian Locomotive’s choice of better traction motors, which incorporate alternating cur-rent technology for the 48 brand- new train cars. This will result in lesser mainte-nance requirements in the future. With shipment scheduled to push through on July 29, the prototype is expected to arrive at the Port of Manila within the week of August 10 to 14. Earlier, Chinese firm Dalian Lo-comotive and Rolling Stock Co. com-mitted to deliver at most 13 new coaches by the end of 2015. This will boost the capacity of the system by a sixth, or by roughly 59,000 more daily passengers.
But it seems the relief is a few more miles away, as Abaya announced that the new delivery schedule of the new coaches are set for January, a quarter delayed from the original October target. The prototype, he explained, will undergo dynamic and static testing and debugging to ensure the new coaches will function at their opti-mal level. This will involve the utilization of bogies, devices that support the rail vehicle of the body. A bogie is used to ensure the train car’s stability both on curved and straight tracks. It also absorbs vibration and minimizes the gen-eration of track irregularities and rail abrasion. The whole expansion project, amounting to P3.7 billion, will in-crease the capacity of the line to 880,000 daily passengers, or 66
percent more than the current 350,000 commuters per day. The project has already been long delayed due to issues with the line’s corporate owner. The government also plans to modify the structure of its trains from three coaches to four in the third quarter of the year. A change in platforms at the stations is not necessary, as they are already designed to carry an additional train coach for each set. It will effectively cut the waiting gap per train to three minutes from five. The MRT has been under fire for more than a year now due to its bad service that arose from its sorry state. The government is currently rolling out P9.7 billion worth of proj-ects to improve the train line. The state also wants to buy out the cor-porate owner of the line.
will be going back to within target range,” Monetary Policy sub-Sec-tor Managing Director Francisco Dakila Jr. said in confirming this viewpoint. Aside from base effects, the drivers that will drive inflation upward in the waning months of the year include the lean harvest season and the effects of the ex-pected adverse weather conditions due to El Niño. “Based on the advisory of Phil-ippine Atmospheric, Geophysical and Astronomical Services Admin-istration, they have upgraded their outlook. El Niño is now expected until the first quarter of 2016. El Niño may intensify in incoming months. However, the negative impact is already been addressed in terms of preemptive importa-tion,” Abenoja said. Meanwhile, in terms of the country’s output growth, Dakila said, based on his personal assess-ment, there are expectations that the disappointing first-quarter growth was the floor or the lowest for this year. Among the early indicators, according to Dakila, stronger growth contributors in the coming months include the robust vehicle sales in the second quarter aver-aging 17.3 percent. He also said that the Purchasing Managers’ Index, an indicator of the relative health of manufactur-ing sector, remains above 50 across several sectors, indicating robust expansion in the second quarter of the year. The July inf lation numbers will be released in the first week of August.
Silk Road. . . Continued from A1 Apec. . . Continued from A1
Inflation. . . Continued from A1
These problems stem from two major obstacles, namely, the lack of a pipeline for bankable infrastructure projects that can attract capital from institutional investors, and the lack of appropriate financial instruments and enabling policy frameworks for pension funds and insurance firms to expand their investments in infrastructure projects in emerging economies. Finance Secretary Cesar V. Purisima welcomed the private- and public-sector participants in the ongoing Apec forum, and pitched for more investments in infrastructure, especially in developing economies like the Philippines where
such investment opportunities are abundant. “Making growth sustainable for the long-term benefit of our people involves making smart regional investments now on the future of our economies. We want our economies to work for our people: better connectivity and mobility to better support our growing, upward-moving populations,” Purisima said. “Growing the size of our economies exacts a high demand for quality infrastructure to support such growth. Together, we can unlock smarter ways to keep moving forward as we keep growing,” he added.
COMMUNICATIONS Secretary Herminio B. Coloma Jr. justified the exclusion of President Aquino from the list of liable officials recommended for indictment for the death of policemen in Mamasapano, Maguindanao, in January.
Coloma indicated on Thursday that the Palace had nothing to do with the Office of the Ombudsman’s decision to exclude Mr. Aquino with the erring Philippine National Police (PNP), the former being an independent body.
The exclusion, according to the Presidential Communications Operations Office secretary, is part of the country’s legal process.
“Bahagi po ito ng mga prosesong legal na naayon sa ating mga batas,” Coloma told former Sen. Orlando Mercado in Filipino in a radio interview. That is a decision by the Ombudsman, which is an independent constitutional body, he said in Tagalog. “We respect their decision on this matter.”
As far as the Palace is concerned, what is important to the Executive is for the peo-ple to see that government branches, including an independent constitutional body like the Ombudsman, is responding to the clamor for accountability in what happened at Mamasapano, he added.
The clamor to make officials accountable ensued after a massacre of 44 PNP Special Action Force commandos in a botched police operation on January 25.
Bringing those accountable is what many of our citizens expect, Coloma said in Filipino, adding those found responsible for the deaths should be made accountable.
Those found responsible must face their liability and ensuring they do so is part of the process of ensuring we can resolve this issue, he added.
However, Coloma clarified it would be inaccurate to say Mr. Aquino was “cleared” of any liability in the Mamasapano massacre, even as the President had admitted re-sponsibility for the bungled police operation.
The Palace official noted that from the beginning, the president was not impleaded in the case. His name wasn’t on the list of people in the complaint filed at the Office of the Ombudsman, Coloma said.
He said the Ombudsman’s spokesman also clarified that the probers found no evidence that Mr. Aquino participated in any of the alleged violations of the law in the Mamasapano massacre. Butch Fernandez
[email protected] Editor: Dionisio L. Pelayo • Friday, July 24, 2015 A3BusinessMirrorThe Nation
The LCH vessels were formally handed over to the Philippine Navy on Thursday in Cairns, Australia, and immediately departed for Manila, according to Navy spokesman Cmdr. Lued Lincuna.
Lincuna said the turnover of the vessels to the Philippines is the first big-ticket item from the Canberra government. He added that this was made through the signing of a memorandum of understanding between Navy chief Vice Adm. Jesus Millan and Royal Australian Navy (RAN) chief Vice Adm. Tim Barret.
Lincuna said the signing was witnessed by Rear Adm. Leo-poldo Alano, commander of the Philippine fleet; and Commo. Narciso Vingson, commander of the Sealift Amphibious Force.
The turnover ceremony was followed by the commissioning and subsequent send-off of the two vessels and their crew for a voy-age to the Philippines. It would be the last leg of a long good-bye that, according to the RAN’s Navy Daily newsletter, began on July 23 last year in Cairns with beaching exercises in Cowley Beach.
The event marked the last time the vessels will sail in com-pany, together with HMAS Labuan, following a history of over 41 years for the Balikpapan Class LCHs.
The Australian government announced the donation of the two LCHs in January 2015, following their decommissioning last year. Lincuna, however, said the two vessels are considered in top shape, having been decommissioned from the services of the Australian military on November 19, 2014, where they are known as HMAS Tarakan and HMAS Brunei, respectively.
In his acceptance remarks, Millan conveyed his gratitude to the Australian government and to the RAN for the generous dona-tion, saying that the two LCHs will certainly boost the capability of the Philippine Navy to transport personnel, equipment and aid during humanitarian-assistance and disaster-relief operations.
The vessels will also be useful in transporting troops from one operational area to another.
Early this month the Navy sent to Cairns its designated sail-ing crew for familiarization and training, which included deck seamanship, ship handling and navigation, as well as shipboard procedures and proper operations of machineries and other equipment onboard the vessels.
Lincuna said the two vessels were expected to arrive in the country on the first week of August.
Years ago, Australia has also donated 21 rubber boats to the military, some of which are being used by a riverine unit of the Army’s Special Forces in patrolling and securing Central Mind-anao’s shallow waters, particularly the Liguasan Marsh, which is dotted by Moro bandits.
Once they arrive in the country, the vessels will add to the five LCHs of the Navy. Millan said three of the existing LCHs were on “rotational operations” only.
Aside from Australia, the country is also expecting an LCH from South Korea but, which Millan said earlier, would have to be refurbished before it could be put into operation by the Navy.
South Korea is also providing a squadron of brand-new FA-50 fighter jets, two of which will be arriving in December, in a government-to-government contract. Rene Acosta
Australia vessels to end long good-bye in ManilaONCE they gift-land in
Manila in August, two landing craft heavy
(LCH) vessels donated by the Australian government to the Philippines would have ended their long good-bye that began in Cairns last year.
Palace justifies Aquino exclusionfrom potential Mamasapano raps
landing craft heavy ShipS Seen booSting philippine navy’S diSaSter reSponSe capability
BusinessMirror [email protected] A4
Economy
By Catherine N. Pillas
South Korean and Philippine firms inked partnerships during the First Korean-Asean Grand
Project Partnerships Forum, with more opportunities for cooperation seen in infrastructure, climate change and power, the Department of trade and Industry (DtI) said. the DtI said the Grand Project Partnerships Forum—held to sup-port Korean firms entering the Asean market—has already opened up areas for collaboration through the signing of agreements between three Korean and Philippine firms. Samjin LND Co. Ltd., a Korean LED light manufacturer, signed an agree-ment with Dazzling Lites Enterprises, a Philippine company that formed an agreement with the Department of En-vironment and Natural Resources for its “1 LED tube, 1 tree Planting and
Growing Program for Climate Change Solution,” or better known as the “1 LED tube, 1 tree” LED tube Campaign. Korea District heating Corp. also signed an agreement with Metro Clark Waste-Management Corp. on the use of household-waste ma-terial and biomass residual fuel to propel the new power plant being constructed in Clark. ENESG Co. Ltd., a Korean company that provides power-plant diagnostic technology, also signed an agreement with Cynergie Power Systems & Auto-mation International to improve the performance of aging power plants in Asean countries. these firms are using the Phil-ippines as staging point for their Asean expansion. the forum was attended by 72 Korean businessmen, 46 Philippine senior officials and about 200 attend-ees from Cambodia, Indonesia, Lao
PDR, Malaysia, Myanmar, thailand, Vietnam and the Philippines. trade undersecretary Ponciano Manalo Jr. said the Asean and South Korea remain important trading partners. South Korea, he said, main-tained its position as the fifth-largest trading partner of Asean. the Asean, he added, is the second-largest trade partner of South Korea. Foreign direct investment flow from South Korea to Asean, mean-while, increased by 105.88 percent in 2013. Manalo said South Korea has con-tinuously kept its strong position in terms of trade and investments in the Philippines. It ranked as the Philippines’s fifth major trading partner, seventh export market, and import supplier. It stands as the 11th top investing foreign coun-try, with $93.21 million worth of in-vestment pledges approved last year.
Vendors slam privatization of Manila’s 17 public markets
Based on the nationwide pol l conducted by Ver itas truth Sur-vey in the second quar ter, 41 percent of the 1,200 Fi l ipino re-spondents repl ied “unsure,” and only 13 percent said Aquino suc-ceeded in addressing corruption in government. the survey also showed that the majority, or 53 percent, of those sur-veyed from Luzon and 48 percent from Mindanao, believe Mr. Aquino’s antigraft campaign failed, while 47 percent from the Visayas said they are unsure. the survey was conducted in both urban and rural areas nationwide and the respondents were chosen on the ba-sis of stratified random sampling with +/-3 percent margin. By educational attainment, 52 percent of high-school graduates said President Aquino was unable to ad-dress corruption; while 46 percent
of elementary graduates, 45 percent of vocational graduates, 42 percent of college graduates and 44 percent of those with postgraduate degrees said they are unsure. Veritas Vice President Rev. Fr. An-ton C.t Pascual said the survey also identified the government agencies that are perceived to be corrupt, with the Senate and the house of Repre-sentatives landing in the first and second spots with 49 percent and 48 percent, respectively. About 42 percent of the respon-dents said the office of the President is moderately corrupt. Also said to be moderately corrupt were the office of the Vice President, 39 percent; Cabinet secretaries, 46 percent, the judiciary 48 percent. the Veritas truth Survey was conducted by the research depart-ment of Radio Veritas headed by Dr. Clifford Sorita.
hAVE you heard about the “9 Ps” in retail design and how they have become more
critical for a brand’s success today when the “omnichannel strategy” is becoming the norm in the global retail industry? the 9 Ps in retailing design are just some of the key points interna-tional experts will discuss in detail at the Asia-Pacific Retailers Conven-tion and Exhibition (APRCE) 2015 at the SMX Convention Center in Pasay City from october 28 to 30 this year. During plenary discussions on the topic “Store Design: trends that Change the Retail Landscape,” Singapore-based Simon ong, group managing director of Kingsmen Creatives Ltd., will join fellow global design experts in giving attendees in the three-day APRCE fresh ideas on how retailers can thrive in this highly globalized and digitized era. ong manages retail and corpo-rate Kingsmen’s Interior Division’s key accounts, including Abercrom-bie & Fitch, Aldo, Dickson Group, Dior, Fendi, Ralph Lauren, Rob-insons, tiffany & Co., uniqlo and Victoria’s Secret. “Design is not only used to complement business, but to solve problems for business, as well. For instance, a well-designed brand strategy plays a big role in creating a seamless customer experience for a corporate interior, showroom, re-tail store, web site and marketing
collaterals. these are all part and parcel of a business’s communication strategy, and will help businesses to consistently communicate the right message to their target markets when designed properly. In today’s well-connected and fast-changing global market, we need an integrated com-munication strategy in the physical and digital space. hence, design is essential to bridge the gap between the two spaces,” ong stressed. he noted that store or retail de-sign is a physical expression of a retailer’s marketing objectives. “to-day store design is even more im-portant compared to the past, when digital space was not in play. With an increasing number of retailers embracing omnichannel retailing, store design is crucial to redefine
this new “click-and-mortar” space by creating a brand experience that remains relevant to a brand’s retail strategy,” ong explained. “In a physical store space, we have to imagine ourselves as the ideal customer and think of every touch point for that particular customer—from the time she first approaches the store and walks through the entrance, to the en-tire shopping experience that she is about to encounter. We have to consider everything, from how the visual merchandising display will attract her attention, visible signage and lighting to colors and fixtures, etc. All these are important physi-cal touchpoints within the store that constitute Physical Ambience, which is one of the 9 Ps in retailing. It is the responsibility of a designer to know and address the other 8 Ps of retailing—i.e., Purpose, Position-ing, Products, Promotions, Place, Pricing, People [staff and custom-ers] and Processes—to achieve the ideal store design and meet the re-tailer’s objectives.” Within the next decade, ong said more retailers will embrace an omni-channel strategy that straddles the physical store and online space, and the “click-and-mortar” will change the way transactions are done in-stores and inevitably affect how re-tailers operate and how a designer designs the store. With this, he said the integration
of technology, such as mobile apps, interactive screens, video walls, and RFID and beacon technology, will of-fer customers added convenience and greater connectivity when browsing and purchasing products. “As a result, store designers will have to explore different ways to maximize dwell time in-store, without compromising online or mobile accessibility for customers. Customer touchpoints and psycho-graphic patterns must be analyzed to redefine and redesign a whole new retail experience—including alternative-store processes—to fa-cilitate sales transactions across several platforms,” he added. ong said a good design propagates a positive perception of a brand, often influencing customers to take action by learning more about the brand, making a purchase, or telling others about it. he gave these examples: Store design. Good design can encourage and entice customers to act positively, by attracting their at-tention to try products in-store. For example, a sophisticated fitting room in a ladies fashion store with control switches for different mood light-ing would prompt customers to try on a range of clothing—from work dresses to ball gowns—in relevant settings within a single location, thus, providing a private experience that enables easier decision-making. Way finding. Well-designed and strategically positioned signages
will help customers save time by pointing them in the right direction. Visual merchandising dis-play. Well-coordinated VM displays tend to capture the attention of cus-tomers with an invisible sign that says “buy me, buy me,” hence encouraging them to purchase more items. the Singapore expert said there are many outstanding store designs globally. he cited three stores belong-ing to different retail categories in different countries as examples: Apple flagship store in New York City. Although it has been around for years, this Apple store is still an outstanding store with an excellent design that continues to attract many people to enter its premises whenever they are in its vicinity. You may only see a big Apple logo within a glass house and noth-ing else from the outside, but it will “pull” you in to enjoy a friendly shop-ping experience and other surprises when you are inside the store; Lane Crawford flagship de-partment store in Shanghai. this is another example of an outstanding store design. their approach is simple and focused on giving its merchan-dise the limelight. the store design is understated but elegant, paying attention to the design language and exhibiting excellent quality in the smallest details—from ceiling to flooring and all touchpoints from the entrance to the visual merchan-dise. When all the important areas
of store design are taken cared of, the rest is up to their superior concierge services from the sales floor to the VVIP rooms; and The new DFS store in Singa-pore Changi Airport’s Terminal 3. this new double-story store has a duplex façade that resembles any high-street flagship store that takes residence inside the airport, unlike a typical airport duty-free store. It is the first of its kind and aims to provide a new customer experience where one can browse and sample special collections of fine liquor or lounge at the famous ‘Raffles Long Bar’ to enjoy a Singapore Sling and other cocktails—all in the house. the store design and ambience befit a prestigious men’s club with a private escalator within the store. over 30 international experts will speak and share their insights on the trends and updates on the global re-tail and marketing industries during the APRCE 2015. PRA President Lorenzo C. For-moso said the three-day event aims to explore and discover new approaches to issues facing the re-gion’s retailers and highlight inno-vative solutions that can help them differentiate themselves from com-petitors, and to deliver greater value to consumers. APRCE Manila 2015 is spearhead-ed by PRA Chairman Frederick Go, president of Robinsons Recreation Inc., as the overall chairman.
Friday, July 24, 2015 • Editors: Vittorio V. Vitug and Max V. de Leon
Experts to detail global trends in store design, ‘9 Ps’ of retailing at Manila APRCE
46% of Pinoys say P-Noy failed to curb corruptionBy Joel R. San Juan
ARECENT survey conducted by Radio Veritas Global Broadcasting System Inc. showed that 46
percent of Filipinos believe that President Aquino’s campaign for “Daang Matuwid” has failed to curb corruption.
South Korean firms entering Asean market through PHL
ONG
By Marvyn N. BenaningCorrespondent
VENDoRS in 17 public mar-kets in Manila are up in arms against a city ordi-
nance that seeks to privatize all of these markets, thus, forcing them out of their jobs.
Supporting the vendors in their opposition to the privatiza-tion plan is the Bagong Alyansang Makabayan (Bayan), which is or-ganizing protest actions to com-pel Manila Mayor Joseph Estrada to retreat from backing Manila City ordinance 8346, also known as the Manila Joint Venture (JV) ordinance.
Bayan Metro Manila Spokes-man Ram Carlo Bautista said the plan to privatize the 17 public markets appears to be Manila’s own version of President Aquino’s
Public-Private Partnership (PPP).under Section 10-B of the Ma-
nila JV ordinance, the city gov-ernment will offer publicly owned businesses, social services and markets for joint ventures with private firms.
Covered by the ordinance are highways, ports, housing, land reclamation projects, education and school facilities, hospitals and health services.
Bayan Manila said that by implementing the ordinance, Es-trada becomes a junior partner of Mr. Aquino “in clearly serving for the best interests of big businesses and not of their constituents.”
It is like fixing things that are not broken, Bautista quipped.
the vendors claimed that seven out of the 17 public markets tar-geted for privatization will be of-fered to private parties.
these are Quinta Market, tra-bajo Market, San Andres Market, Sampaloc Market, New Antipolo Market, Santa Ana Market and Pritil Market.
to show that it is serious in its own version of PPP, the vendors said the demolition of stalls in Quinta Market in Quiapo, Manila, has re-portedly been scheduled on July 27, right in time for Aquino’s final State of the Nation Address.
to show their opposition to the plan, hundreds of vendors and stall owners in trabajo Market mounted a protest march from Sampaloc to Quinta Market and held a media briefing at the soon-to-be priva-tized public market.
After the media briefing, they marched to the Manila City hall to tell Estrada to stop the privati-zation plan and junk the Manila JV ordinance soonest.
RadiO Veritas officials (from left) Rev. Fr. anton C.T. Pascual, president and executive director of Caritas Manila; Most Rev. Fr. Broderick Pabillo, auxiliary bishop of Manila; Most Rev. Fr. Teodoro Bacani Jr. Novaliches bishop emeritus; and Clifford Sorita, resident sociologist, present the results of the Public Perception Survey on Philippine Corruption in intramuros, Manila. ROY DOMINGO
Del ay s in the release
of funds contin-ue to hound the government’s ef-forts in rehabili-tating areas de-stroyed by super-typhoon yolanda (international code name Hai-yan), according to civil-society group social Watch Philippines (sWP). sWP convener and former National Treasurer Prof. le-onor Magtolis-Briones said this is despite the Department of Budget and Management’s (DBM) disclosure that it released P84 billion from the Comprehensive Rehabilitation and Re-covery Plan (CRRP). The civil-society organization said these funds were intended not only for yolanda-affected areas but also for the rehabilita-tion of areas affected by the Bohol earthquake and areas hit by typhoons sendong and Pablo. “It’s still ‘business as usual’ for the government and the agencies appear to have no sense of urgency in dealing with a humanitarian crisis. The absence of a clear central and au-thoritative agency/body that will implement, oversee, coordi-nate and have strong mandate to monitor all reconstruction/recovery initiatives is the problem,” Briones said. Further, the CRRP funds also have a resettlement clus-ter, which comprises the majority, or P75.679 billion, of the total. The National Housing authority, the main imple-menting agency for resettlement, is getting the high-est allocation of P72.255 billionfor the construction of resilient and build-back-better-compliant housing for yolanda-affected families. Briones said less than a third, or only P21.438 billion, of the P75.679-billion CRRP funding requirement for re-settlement has been released as of June 15. Only 73,000 housing units out of the 205,128 requirements are cur-rently being built. The bulk of the funds for delivery of emergency shelter assist-ance was reportedly downloaded to local government units as of June 30, but has not been received by intended beneficiaries. “snags in finding appropriate lands for resettlement areas continue to haunt the fast delivery of shelter to yolanda survi-vors. Families who continue to stay in areas declared ‘unsafe’ and do not want to move to relocation/resettlement sites are not entitled to housing assistance and the government has no clear interventions for them,” Briones explained. Information and data-transparency issues were also raised by the group with unclear sources of funds for the P170-billion funding commitment of President aquino for the CRRP. By law, the funds should come from the National Disaster Risk Reduction Management Fund, regular budget and foreign donations only. The Rehabilitation and Reconstruction Program (RRP) al-location in 2014 was P20 billion and P1 billion this year. The proposed RRP for 2016 is 18.9 billion. The sWP reported that budget allocation does not specify the programs, activities and projects intended for yolanda re-construction and rehabilitation. some of the budget items were found to be part of the regular operations of the agencies for disaster-risk reduction management and not specifically for yolanda. Janine Soliman
[email protected] Friday, July 24, 2015 A5BusinessMirrorEconomy
During the ayala-University of the Philippines school of eco-nomics (UPse) economic Forum on Challenges of Governance in the Power sector, lotilla said it is not right to place the eRC under the Office of the President (OP), as mandated by the elec-tric Power Industry Reform act (epira). “The law [epira] does not attach the eRC to the DOe because the regulatory agency has always been attached to the OP for political reasons,” said lotilla, citing oil price, which was then a major political issue. “It was more vulnerable when attached to OP because the re-lationship was more direct and politically sensitive,” he said, cit-ing that institutions matter, particularly in building an enabling environment for private initiative. “strengthening institutions and working together is important.” His proposal does not require a new law since eRC’s mandate, when it comes to making decisions to protect
Lotilla: ERC should be under DOE, not OPBy Lenie Lectura
FORMER Energy Secretary Rafael Perpetuo M. Lotilla on Thursday stressed
the importance of placing the Energy Regulatory Commission (ERC) under the Department of Energy (DOE) as a way to enhance and institutionalize their coordination.
the consumers, will remain. “No, that is not needed. all that is needed is for the President to transfer eRC from the OP to the DOe. I think that transfer should be accompanied by addi-tional resources for eRC, in terms of budgetary support to carry out its functions, as well as for the rationaliza-tion of salaries for eRC staff,” he said. and if the government cannot provide a bigger budgetary amount that is needed by the eRC, lotilla said the eRC should be allowed to keep part of its in-
come to support various activities. Vicente s. Perez Jr., also a former energy secretary who was among the panelists, agreed. “yes, the eRC needs to keep whatever amount it collects and not remit it fully to the Department of Budget and Management.” When sought for comment, eRC executive Di-rector Francis saturnino Juan said coordination between the two agencies exists. “The objective he mentioned—the coordination between the DOe and eRC—can be achieved under the existing setup.
Former secretary Petilla knows that.” He added: “In terms of discharge of functions, eRC was made by law independent even of the OP.” But lotilla replied: “But even if we are not able to at-tach eRC to the DOe, we still have other mechanisms like bilateral consultations and having more frequent coordination and interaction between the DOe and eRC.” Petilla, on the other hand, said: “either way is fine by me on whether eRC should be under the DOe. The important thing is that both agencies work together.”
Release of rehab funds still delayed
BRIONES: “It’s still ‘business as usual’ for the government and
the agencies appear to have no sense of urgency in dealing with a
humanitarian crisis. The absence of a clear central and authoritative agency/body that will implement,
oversee, coordinate and have strong mandate to monitor all
reconstruction/recovery initiatives is the problem.”
Friday, July 24, 2015
OpinionBusinessMirrorA6
Open High School System
editorial
Recently signed into law by President Aquino, Republic Act 10665, or the Open High School System Act, will hopefully give more Filipinos access to a better education.
the purpose of the law, according to Rep. Kimi cojuangco of Pangasinan, is to “provide equal opportunity for adults and young people of high-school age who are out of school to avail themselves of free open high-school education through the distance learning modality.” cojuangco, who chairs the House com-mittee on Basic education and culture, was the author of the House version.
the “Open High School System” (OHSS) will be available all over the coun-try under the Department of education’s (Deped) alternative secondary edu-cation program. this program is designed to allow eligible students—both young people and adults—to learn on their own without necessarily having to attend formal classes. It will be provided without cost to those who qualify.
no matter how noble the intent, and despite ongoing efforts, there are too many Filipinos who simply drop through the cracks of getting even a high-school education. the country is too large with many remote areas. the wealth and income disparity between urban and provincial locations is too wide to ensure that what may work in the metropolitan areas to bring a sound educational system to a target audience will also properly function in the provinces.
the bill is to provide a framework for the Deped, the Department of the Interior and local Government, and local government units (lGUs) to each play a critical role in the OHSS. the concept is to provide instructions by whatever means, or what works best or suitable for local conditions. Rather than a traditional classroom environment with a daily schedule, it is envi-sioned that instruction could be given through print, radio, television and computer-based communications, satellite broadcasts, teleconferences, and other multimedia learning and teaching technologies that allow students to learn on their own.
the problem with these kinds of ideas that tend to look good on paper is that the implementation is bound to be faulty and haphazard. However, a closer reading of the bill shows that cojuangco and her associates may have shown more than we have come to expect from our legislators at times. the Deped will have the responsibility to train teachers, teacher advisers and com-munity advisers, in coordination with lGUs and non-governmental organiza-tions concerned, for the OHSS.
that provision provides both a chain of command and a chain of respon-sibility for the OHSS program. teachers and support personnel will receive incentives, monetary compensation and honoraria as they are trained in rel-evant modules of the OHSS.
An individual program like OHSS is not going to solve our educational sys-tem’s problems. But each one successfully executed together with other ideas will make a large and better difference for the nation’s future.
WHen I was much younger, I was a delegate to a Model United nations assembly, representing lebanon. there was a motion on the floor that called for a selective logging
ban that would have protected a critical watershed in a region that was on the brink of a massive water crisis. It wasn’t an acceptable solution for everyone, of course.
Pyrrhic
After almost an entire afternoon of debating, the house was finally divided and the matter was put to a vote. the proposed logging ban was struck down by the thinnest of margins, and after the last nay vote was counted, a spontaneous cheer broke out among those who voted against. the triumphant delegates con-gratulated their allies and patted each other’s backs. “We won, we won,” they started chanting.
It went on for about five minutes until one of the moderators strode to the mi-crophone and had us all settle down. In a serious voice, he cautioned us to look at what had just transpired in a differ-ent way. Sure, he said, one side won and another side lost, but in the end the big-ger defeat was the inability to come to a consensus which would have averted a crisis. those against the measure, he continued, succeeded in protecting their interests, but in doing so effectively chose not to solve the problem that af-
fected everyone. Personal interest—albeit cloaked in the mantle of a nobler cause—took precedence over the need for a solution.
the air was heavy with the unspo-ken question: Was the personal victory worth it?
the elections are less than 10 months away and it seems that every effort by the commission on elections (comelec) to ensure automation, as mandated by law, is being stymied at every turn by various groups avidly pursuing their own interests, seemingly mindless of the potential consequences of their efforts.
there are those whose avowed goal is to prevent an unpopular corporation from getting the automation contract simply because they don’t trust the cor-poration. there are others who are out to prevent a competitor from getting the contract because they want the contract themselves. And there are those who wave a flag they call “nationalism.” the
list of motivations is endless, and yet, although each of these groups claims to be moved by laudable intentions—and they might very well be—their obvious willingness to bring the country’s au-tomated elections system to its knees at all costs ultimately negates their nobler agenda.
By continually throwing roadblocks in the comelec’s way instead of con-structively engaging the poll body to ensure that the system in use meets the most stringent requirements of trans-parency and security, these groups are pushing the country closer and closer to the point where a return to manual elections remains the only viable op-tion. Worse, they are doing this without actually presenting alternatives that do not require a massive overhaul of existing election laws, nor even cred-ibly provide the kinds of guarantees they claim are missing from the system currently in use.
A return to manual elections will result in a massive resurgence of people trying to subvert elections, and there is no guarantee that all those efforts will be discovered and stopped in time to prevent fraudulent wins. Based on the fact that not a single claim of cheating from 2010 and 2013 has been proven, the bogeyman of possible manipulation under the automated election system pales into insignificance—especially when compared with the certainty of cheating in manual elections.
A return to manual elections will once again paint bull’s eyes on the backs of the Boards of election Inspectors, making them targets for bribery, harassment,
intimidation and violence. teachers will once again be the focal point of ef-forts to illegally influence the outcome of elections at every stage, from vote counting to the preparation of results; where teachers are bullied and threat-ened mortal harm. that these things happened under manual elections is a fact, and facts don’t change. nor can they be prevented from happening again with the insulting proposal to “just pay the teachers double.”
A return to manual elections will re-introduce the anomaly of “incomplete and unofficial results” being reported as news while the country waits for weeks and weeks before knowing who the winners actually are. the long wait for complete and official results is a fertile breeding ground for specula-tion and political machinations that undermine the credibility of the elec-tions and erode the mandate of those who are eventually declared winners. With shaky mandates, these winners will never be able to govern as effec-tively as they could—as we need them to—and it is perhaps inevitable that these winners themselves will learn to be insecure leaders obsessed with ensur-ing their next electoral victory, thereby perpetuating the problem.
Perhaps it is time for people to sober up and ask themselves if such a pyrrhic victory would be worth it, simply so that this handful of worthy men and women could have their way.
James Arthur B. Jimenez is director of the Commission on Elections’s education and information department.
spoxJames Jimenez
Friday, July 24, 2015
annotationstito Genova Valiente
There is an ad showing on TV where celebrity parents ryan Agoncillo and Judy Ann Santos face a quandary. Their daughter has just asked them what is the meaning of kabit.
The two parents turn to the nanny, who points to the TV set on top of the table. The next scene shows the parents talking to the child. We do not know what they are telling their daughter. There is no assurance that the questioning of the girl will stop there to terminate the moral crisis of her parents.
Blaming the media
Competition and scams
The irony of the scene is not lost to the critical audience. The two par-ents are part of TV programs and, for that matter, films, where certain things that young children ought not to know are bandied about or articu-lated or dramatized.
The ad’s lesson is also not lost in terms of its value. The problems of the Agoncillos are not unique to them. All young parents with young wards are faced with the same prob-lems: how to shield their kids from atrocious, horrible shows and pro-grams that are the regular fare of free TV and films.
The notion of censorship has remained more contentious than ever. We, adults, do not relish the idea of giving judgment on what we should be watching to people who are not exactly known for their critical judgment.
Sex and sexuality are two do-mains our society has not come to
resolve yet. We remain prude and crude when dealing with the no-tions of sex. Malice and lust are two favored flavors we use to coat our narrative about the sexuality of men and women. Unfortunately, we have not succeeded in our attempts to teach any generation how to con-tend with issues of morality. What we easily get in terms of comprehen-sion is that we should protect our children from stories about sexual affairs and cohabitation. Corruption does not bother us. Bad taste, which is in abundance in television shows, does not occupy a greater concern of parents and guardians.
In other countries, there are TV programs that are loathsome but there is also a preponderance of pre-sentations that aim to educate or ini-tiate young minds to ask questions.
Our newscast is showbiz or gim-mickry, with newscasters parlay-ing charm, or what they think to
be allure, instead of wisdom. I have written about this again and again: the wordings of news items follow a formula, with words and terms lim-ited to a few phrases. Count the fre-quency of the word patay, meaning “killed,” and you get the feel of what is news for the networks and what is substantial eventually for the listen-ers. The hyperbole or exaggeration is preferred over even languages. The world screams of murder and massa-cre that we end up exhausted or jaded.
The control over what is right is gone. Listen to the discussions about how nonsingers are becoming more popular than singers in the music sector, and you can understand how standards and norms have changed. This is not even capitalism at work; the present dispensation over tele-vision networks is marked by the dominance of the mercenary.
Boy Abunda, who, for a long time, projected an aura of critical thinking, with a command of english not found readily in other showbiz commenta-tors, is quoted as favoring the non- singers. he is said to have admon-ished the critics of nonsingers to look at these creatures and take note of what makes them popular. The ad-vice, if indeed it was given, is asking people to follow the models of the mediocre and the gross.
I am not surprised at all that the dumbing of discussions is hap-pening. Anti-intellectualism is on a surge. The average is favored, because knowledge has been made available through computers and technolo-gies. Technologies have made avail-able to many what was rare years
ago. Anyone now can be a singer by posting his or her performance on social media. Anyone can be a writ-er by blogging. Anyone, in fact, can call himself or herself a film critic by coming up with his or her own Web page of film criticisms.
There are two territories that have been remiss in all these debates: the home and the school. People talk about how there is a lack of role models for the youth. We do not need heroes from the pages of his-tory because, for many generations, parents have served as the heroes of home. But, then again, globalization and migration has caused the loss of parents at home.
In schools, universities now tend to please the students and the par-ents. The stronghold of the faculty members, the so-called teachers, is gone. The colorful mentor is not welcome anymore with his colorful phrases to describe the status of the pupils. Students are sensitive and are in need of protection. The edgy debate to which the previous genera-tions had been exposed is not main-stream anymore. The classroom is ran through tweets and FB postings. A teacher should be cool and should be a dude.
In the 1950s the war served as an inspiration for the young men and women of that period. We should have not fought that war, the his-torians would comment afterward. even the doubts became an act of faith. On what wings of belief does the present generation fly?
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IT’S too bad the central-banking profession has no hippocratic oath. If it did, haruhiko Kuroda would’ve known better than to harm Japan’s reflation regimen by saying prices are about
to “accelerate considerably.”
Bank of Japan only imagines inflation
EaGLE WatCHalvin P. ang
everyone knows the Bank of Ja-pan (BOJ) governor is gunning for a 2-percent inflation. Now, they also know how delusional his team is becoming as that goal fades further into the future. Kuroda’s comment cuts both ways: If he’s right that con-sumer prices are about to surge, then he has just scared Japan’s 127 mil-lion people into spending even less. And if he’s wrong, the BOJ has just
burned the last shreds of its cred-ibility with world markets.
For now, the latter seems more likely. Markets called Kuroda’s bluff as the yen and Japanese government bond (JGB) yields barely budged. had traders believed Kuroda’s warning, 10-year yields wouldn’t have fallen to 0.40 percent on Wednesday, com-pared with 2.32 percent in the US. That explains why, with a couple
of regrettable words at a Bangkok conference on Tuesday, Kuroda un-dermined more than two years of unprecedented monetary stimulus.
Unless the BOJ has compelling data—and is willing to share it—showing that inflation expecta-tions are moving its way, this is a risky gambit. The folks at Pacific Investment Management Co., for example, think more monetary easing is on the table as headwinds mount. China’s slowdown alone may be reason for the BOJ to stick to an easing stance, said Pimco’s Tomoya Masanao. risks abound for a deflationary shock from global equities, currencies or oil prices. Gold, meanwhile, may soon sink below $1,000 an ounce for the first time since 2009, according to Gold-man Sachs analyst Jeffrey Currie. That’s hardly a sign that markets sense any of the world’s three big-gest economies (Japan is No. 3) are
on the verge of an inflation surge.Nor do Japan’s mainstream price
gauges fit Kuroda’s narrative, which explains why his team is eyeing a new measure. It’s highlighting charts showing that inflation advanced 0.7 percent in May, well ahead of the of-ficial 0.1 percent. To get there, staff-ers stripped out both fresh food and energy (the monthly consumer price index excludes only food). But this is a slippery slope. Fudging data won’t change perceptions. Only increased confidence in Japan’s future can do that.
Kuroda might consider talk-ing less and doing more to achieve that goal. One suggestion: Focus on qualitative, rather than quantita-tive, easing. The quantity of money has surged since April 2013, when Kuroda pushed the BOJ into un-charted territory. he expanded the bond-buying campaign in October 2014, when policy-makers pledged
to purchase about $700 billion of public debt each year. The BOJ also quadrupled purchases of JGBs ma-turing in 25 years or more.
Yet, the bank is beginning to “run out of road,” said Andrew Colquhoun, head of Asia-Pacific sovereign ratings at Fitch. Volatil-ity has all but disappeared from trading in Japanese government debt, as monetary largess corners the market. A similar dynamic is deadening debt backed by mort-gages, assets and local-government IOUs. The focus, Colquhoun said, must be on evaluating which securi-ties the BOJ buys to see what’s gain-ing traction and what’s not—and recalibrating accordingly.
Kuroda also should be prodding the government to carry out the structural reforms needed to boost wages and gross domestic product. In its latest growth strategy unveiled last month, Prime Minister Shinzo
Abe’s government said it’s aiming for a 2-percent real growth over the next few years. That’s highly unlikely to happen, though, without extending the yen’s already massive 35-percent drop under Abe, Colquhoun said. “We need real progress on reforms to get there,” he said.
To that extent, Kuroda is stuck. Government officials make it clear that a yen below 125 to the dollar is undesirable (it’s now about 123). That’s why Pimco has a point in fa-voring longer-term debt. “The long end of the JGB yield curve remains attractive on a relative basis, given the BOJ’s powerful support firmly in place,” Masanao said.
The BOJ, in other words, can talk about surging inflation all it wants, but conditions on the ground indi-cate otherwise. In the meantime, as he tries to change them, Kuroda should be mindful that job one is to do no harm to Japan’s revival.
TWO critical and important pieces of legislations were signed into law by President Aquino this week. These are the Philippine Competition Act, or republic Act 10667, and the
amendments to the cabotage law. These came at the homestretch of the Aquino administration and further strengthening the country’s commitments to the Asean economic integration.
In gist, the laws are designed to provide fair play in the course of do-ing business in the country. They are to benefit consumers by allowing an environment of expanding choices and prices determined through efficiency and not through agreements, negotia-tions and influence. The amendments to the cabotage law effectively removed the internal barrier that limits foreign vessels from directly bringing cargoes to other ports within the country. This has made products costlier in the prov-inces and has, in a way, contributed to higher inflation. Thus, these laws will certainly attract more foreign invest-ments, lower the cost of doing business, and provide consumers with efficiently priced products.
Again, in the midst of these good news, a barrage of alarming news on the proliferation of investment scams came along. The competition laws again are buried by these economic news that are immediately affecting people. The recent debacle involving One Dream Global Marketing and the subsequent warnings of the Securities and exchange Commission (SeC) on related schemes, such as FLAG and Success2000, bring to fore a recurring issue that no existing law is able to stop. Consider these data on the biggest investment scams and losses from Salve Duplito:
1. Legacy Group (2008)—P30 billion
2. Multinational Telecom Invest-ment Corp. (2002)—P25 billion
3. Aman Futures (2012)—P12 billion
4. Performance Investment Prod-ucts Corp. (2007)—P11 billion
5. Mateo Management Cor p. (2003)—P4.3 billion
There are still a number of smaller schemes implementing almost the same low risk—high return approach that have gone unnoticed, or because people did not bother to complain. The reality is that these scams recur because there remains a huge gap in financial literacy and inclusion in the country. It can be observed that the scams rode with the economic boom. For instance, those that occurred in the late 1990s to early 2000s rode on the crest of the economic expan-sion under former President Fidel V. ramos. At that time, the target were local workers and professionals concentrated in urban centers—mostly in Metro Ma-nila. For those riding the recent growth of the economy, the approach has been to target locals, as in the case of Aman Futures and the recent One Dream. Nonetheless, because of social media, they have been able to penetrate a wider segment of the populace, including over-seas Filipino workers (OFWs).
Understandably, as the economy
continues to expand and incomes grow, people are looking for opportunities and investment instruments that give a higher return for their savings. With the local interest rates hitting all time lows (we have projected it to remain at these levels for some time), those with extra cash are tempted to look for other investment opportunities with higher returns. This tells us that people with extra resources are in need of basic fi-nancial information and knowledge. We have found this to be true in our research of OFWs, their families and those families who do not have OFWs. Most Filipinos claim that their finan-cial knowledge is self-developed and not learned from anywhere. responses to basic financial-literacy test, such as interest rates, inflation and savings, showed that correct answers are just about half of the respondents.
With these news coming together at the same time, there need to be a ba-sic response from the government be-yond warnings from the SeC. Putting the brains into jail cannot bring back the lost investments—much more the dreams and aspirations of those who were gypped. In line with this, a small analogy on competition and scams can be consid-ered. Competition, when allowed freely, will definitely lead to more information, better choices and better quality products (investment instruments). In small inves-tors, the competition for investments is dictated by the returns—hardly anyone looks at the three other conjoined char-acteristics, i.e., risk, liquidity and taxes. This means that going into investments requires beyond having street-smart knowledge and needs to have a more detailed understanding of these four characteristics. It is hoped that beyond creating the fair environment for com-peting for investments, the government should jump-start a massive financial information and literacy campaign that can be implemented by schools, univer-sities, and even different civil-society advocacy groups. This should set the standards and competencies of having an organized financial- literacy campaign that will support the competitive environ-ment. Competition works best when the participants and beneficiaries are well-informed on the nature of their choices.
We would like to invite you to the Ateneo Eagle Watch Mid-Year Briefing, scheduled August 6, 2015, at the Ateneo Rockwell Campus. As seats are limited, please reserve your seats via [email protected], or call 426-5661, local 5221 or 5222, and look for Riz Jao.
Alvin P. Ang, PhD, is professor of Eco-nomics and senior fellow of Eagle Watch, Ateneo de Manila University’s macroeco-nomic forecasting unit.
BLooMBERG ViEWWilliam Pesek
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