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Automobile sales post seasonal dip in August

CAR SALES dropped in August for the first time in seven months, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) reported on Thursday, describing the reduction as seasonal.

Data the groups released showed that overall sales dropped 2.4% to 29,599 units in August from 30,313 vehicles a year ago, and seven percent from July’s 31,810 total.

It was the first year-on-year drop since January’s 15% fall.

But increases from February to July resulted in a 2.44% increase in industry sales to 235,544 vehicles as of August from 229,941 units in last year’s comparable eight months.

“Supply constraints and the run-out of outgoing models of some brands have hampered the industry’s rate of recovery in August,” CAMPI President Rommel R. Gutierrez said in a statement. “Together with that, the reality of seasonal trends in the industry continue to hold true, despite the boosted sales and marketing campaigns during the off-peak month of August.”

August last year saw sales drop 14.04%, as the industry reeled from higher automobile excise tax rates that kicked in at the start of 2018.

However, August 2017 saw sales grow 8.7% year-on-year.

August sales of commercial vehicles — which accounted for 70.33% of the industry total — dropped by 3.8% to 20,818 from 21,635 in the same month last year. Sales of Asian Utility Vehicles rose by 8.6% to 3,236 vehicles from 2,981 units, while those of light commercial vehicles dropped by five percent to 16,488 units from 17,354 vehicles.

In contrast, passenger vehicle sales grew by 1.2% to 8,781 units from 8,678 vehicles.

Toyota Motors Philippines Corp. continued to have the biggest vehicle market share at 44.2%, selling 13,083 units in August, 6.2% more than a year ago. It was followed by Mitsubishi Motors Philippines Corp. with 17.09% share though with sales dropping 7.3% to 5,057 units from 5,456 last year. Nissan Philippines, Inc. followed with 11.83% share, dropping by 22.2% to 3,501 from 4,500 units. Suzuki Philippines, Inc. sold 7.26% of the total, increasing its sales by 17% to 2,149 units from 1,836 a year ago. Ford Motor Company Philippines, Inc. came next, contributing 7.28% to the total with 1,515 units sold, 14.4% more than the 1,324 vehicles sold a year ago.

“Traditionally, August has been a challenging month for the industry. However, we expect a positive turnaround this September until the last quarter of the year as the industry introduces new car models…” Mr. Gutierrez said, saying the group’s of 410,000 unit sales goal “remains… highly achievable goal for the industry and we expect the road to recovery to continue until the end of the year.” — Jenina P. Ibañez

Philippines advised to further diversify its energy sources

By Victor V. Saulon
Sub-Editor

AUSTIN, TEXAS — Over-reliance on one type of energy or dependence on one country as an energy source is a threat to national security, an official of the US Department of State said here, as he pointed to alternative models of resource development that the Philippines can adopt.

“We think that it’s better for the country when you have the best choice of all of the different companies to look at — to look at the bids, to look at the offers — and then make the best choice for the country’s development and for the development of whatever resource you’re talking about,” Kent D. Logsdon, principal deputy secretary of the Bureau of Energy Resources (ENR), said in a briefing.

Mr. Logsdon was responding questions from visiting journalists from countries in Asia and Europe where the bureau hopes for greater engagement. ENR leads the State department’s efforts to forge its international energy policy to boost US and global energy security.

“We know there are lots of countries out there, several in particular, with state-owned enterprises who are very aggressive and who will come in with a checkbook,” he said.

He pointed to China and concerns from the United States about resource development models that offer terms to countries in the region, particularly those with territorial claims in the South China Sea, that center on joint exploration between a Chinese state-owned enterprise and a local company.

“We find that troubling,” Mr. Logsdon said.

He said the United States has been clear about its stand that the South China Sea is an international open waterway.

“US companies and other international companies should also be free to operate there. We continue to make that very clear, I think, in both word and deed. So we talked to China and we talked to countries in the region to say that,” he said.

For the United States, national security is threatened when its allies lack reliable access to diversified, affordable and reliable energy; foreign energy markets shut out US companies; market-based energy solutions are hindered by poor governance; competition for energy leads to conflict; or terrorists and rogue regimes exploit energy resources to fund violence and destabilizing activities.

ENR serves as the principal advisor of the Secretary of State on energy security, policy, operations and programs. As opposed to domestic concerns of the US Department of Energy, the bureau’s focus is more international.

Mr. Logsdon said the bureau works with governments in setting an enabling environment for companies to do business fairly.

“Sometimes, a state-owned enterprise might win a competition, but if it’s a fair and open competition, that’s what companies are looking for — that they were able to bid, and that they were able to get their bid considered in a fair way and the best company was chosen,” he said.

He said the US is promoting a private sector-led model of energy resource development where its companies, especially the smaller ones, can offer solutions, especially in renewable energy.

Asked about the enabling environment that US firms are looking for, he said these are the same as what other governments and businesses around the world would seek. In energy legislation, for instance, he said these the same as what US companies tell the government.

“But again it’s pretty basic — it’s transparent processes, they’re looking for what is the process if you have a dispute, how do you resolve that,” Mr. Logsdon said.

“They start from the beginning — in the very fairness of getting a contract, that if they put a bid down, it’s an open, transparent competition in order to win that. And then there’s the relationship with the government to figure out how they will share, whether it’s a production sharing agreements, whether it’s just again dispute resolution mechanism, what do you do when there’s a problem.”

Mr. Logsdon said US companies are keen to participate in Philippine projects, including petroleum exploration, if they see “the right kind of structure and enabling framework.”

“The US government can’t direct US companies to any place in the world,” he said.

“They have to see a resource that they think they can develop, and that they can actually be a profitable company there… that’s the bottom line.”

Filipinos dropping out of the work force could benefit the economy

LOW UNEMPLOYMENT in the Philippines may be masking the fact that more people are opting not to work — and preferring to stay in school for longer.

The jobless rate has been fairly steady around five percent for more than a year, down from 6.6% two years ago.

A closer look at the data shows more than 750,000 Filipinos aged 15 or above dropped out of the labor force last year. That means some 28 million people — about 40% of the working-age population — aren’t employed and aren’t looking for jobs.

“Most of the youth stayed out of the labor force,” Socioeconomic Planning Secretary Ernesto M. Pernia told reporters.

“Boys cited staying in school as their reason for not working.”

At first glance, that would seem like a major drag on growth.

But a better-educated workforce would be a significant boost down the line for a country that counts population size as a major driver of its economy.

Traditionally, young Filipino men have worked without pay on family farms or earn meager salaries for manual labor at construction sites, markets or ports.

The number of men aged 15-24 who were not in the labor force — and which would include students — increased by 1.25 million between 2010 and 2018, according to the statistics agency.

At the same time, the number of females joining the labor force climbed: About 1 million more young women actively looked for employment or had joined the workforce in 2018 compared to 2010.

Families may be keeping their sons in school longer as they benefit from a decade-old government cash-transfer program, as well as free tuition at technical schools and state colleges, said Emilio S. Neri, Jr., a senior economist at Bank of the Philippine Islands.

“All of those efforts led to more students gaining more access to tertiary and technical or vocational” education, he said.

In addition, high schools — which used to end at 10th grade — added two extra years of studies several years ago.

That may have kept young people out of the workforce for longer, but wouldn’t have stopped some families from taking teens out of school and sending them to work if necessary.

Among Filipino men, 21% have undertaken college or other post-secondary education, compared to 25% of women, the latest data from the statistics agency show.

Most male students in tertiary education are studying information technology, while most women are in business administration and related fields.

There are signs that the programs are slowly translating to a better-educated labor force. “It’s to the country’s advantage to make the best of the increasing labor force to boost economic output,” Mr. Pernia said, adding that the government intends to invest more in educational programs.

Better education and training will surely deepen the available talent pool. But the key test will be whether the economy can create enough jobs outside service industries like tourism and call centers.

“The challenge is really to continue generating the opportunities for higher-skilled workers,” Mr. Neri said. — Bloomberg

SFEx expansion to be completed by Sept. 2020

NLEX Corp. is targeting to complete the P1.6-billion Subic Freeport Expressway (SFEx) capacity expansion project by September next year.

The company started “full blast” work on the enhancements yesterday, with a groundbreaking ceremony in Subic, Zambales joined by officials from NLEX Corp. and the Subic Bay Metropolitan Authority (SBMA). Sta. Clara International Corp. has been tapped as the project contractor.

The SFEx capacity expansion project involves the construction of two additional lanes, two new bridges at Jadjad and Argonaut, and a new tunnel on the 8.2-kilometer toll road.

“We at MPTC (Metro Pacific Tollways Corp.) and NLEX Corp. believe that one of the key drivers of economic growth is the network of high quality roads,” NLEX Corp. President Luigi L. Bautista said in his speech at the ceremony.

“By increasing the road capacity of SFEx…the transport of goods in and out of the Subic Freeport will be faster and simpler,” he added.

Subic is home to the Subic Bay Freeport Zone, a special economic zone that facilitates trade in the Central and North Luzon through shipping.

SBMA Chairman Wilma T. Eisma said aside from helping the smooth flow of goods in and out of the province, the SFEx expansion is expected to make Subic a more viable tourist and investment destination because of improved connectivity.

“I could guarantee you that there will be an increase, not just in investors, but (also in) tourism. Because connectivity is really important for mobility of people. As companies continue to come in, it is very important for us to grow Subic as a tourism destination for Filipinos and foreigners alike,” she said.

NLEX Corp. said it will also improve the existing SFEx by adding LED lights and enhancing its drainage system to address flooding in the area.

NLEX Corp. is under MPTC, the tollways unit of Metro Pacific Investments Corp., one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT, Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Denise A. Valdez

It sequel floats to $91 million

LOS ANGELES — Leave it to Pennywise to deliver a much-needed jolt to the domestic box office. Warner Bros. and New Line’s It: Chapter Two arrived with $91 million, a promising start after a lackluster summer moviegoing season.

While those ticket sales are behind the jaw-dropping $123 million launch of its predecessor, 2017’s It, the follow-up still ranks as the second-best horror opening in history, as well as the second-highest gross for the month of September (both behind It). Directed by Andy Muschietti, It: Chapter Two was also a necessary win for Warner Bros. following a dismal summer that saw disappointments such as The Kitchen, Godzilla: King of the Monsters, and Shaft.

Overseas, It: Chapter Two scared up a solid $94 million for a global debut of $185 million.

“We’re absolutely thrilled with our result,” Jeff Goldstein, Warner Bros.’ President of Domestic Distribution, said on a Sunday morning call. “Andy Muschietti and New Line, as well as the marketing team led by Blair Rich, created one of those moments where it all works. We’re proud of it.”

The R-rated horror sequel didn’t receive the same critical love as the first (It: Chapter Two carries a 64% on Rotten Tomatoes compared to an 87% for the original). However, audiences were more favorable, giving the same B+ CinemaScore as It.

STRONG MILLENNIAL AUDIENCE
Over half of opening weekend crowds were male, while 33% were under the age of 25. Younger moviegoers appeared to be even more enthusiastic: Ticket buyers 25 years old and younger awarded the film with an A- CinemaScore and those under the age of 18 gave it an A.

“The Pennywise character really speaks to [younger audiences] in a big way,” Goldstein said. “We have such a strong millennial audience, which tells us we should have a long play in front of us.”

It: Chapter Two clocks in at a lengthy two hours and 50 minutes, nearly 30 minutes longer than the first film. While longer runtimes could result in less screenings and therefore fewer tickets sold, the studio bypassed that by securing 4,570 theaters, the widest September release to date.

“The movie was long, but we strategically dealt with that by adding a lot more showtimes, which gave audiences an opportunity to see it at a time that works for them,” Goldstein added.

Based on the second half of Stephen King’s novel, It: Chapter Two picks up 27 years after the Losers’ Club thought they rid their small town of the terrifying clown known as Pennywise (Bill Skarsgård). When the sewer-dwelling, shapeshifting demon resurfaces, the unlikely heroes return to their hometown of Derry, Maine to get rid of the evil force once and for all. The sequel stars Jessica Chastain, James McAvoy, Bill Hader and Isaiah Mustafa as the adult version of the kids who took on Pennywise over a quarter of a century before. — Reuters

Ayala, SMC units bag Meralco supply contracts

By Arra B. Francia, Senior Reporter

MANILA Electric Co. (Meralco) has awarded power supply agreements (PSA) covering 1,200 megawatts (MW) to units of San Miguel Corp. (SMC) and Ayala’s AC Energy, Inc.

In a disclosure to the stock exchange on Thursday, the listed company identified the winning bidders during the competitive selection process (CSP) for its power requirements to be Phinma Energy Corp., San Miguel Energy Corp. (SMEC) and South Premiere Power Corp. (SPPC). AC Energy owns Phinma Energy, while SMEC and SPPC are both units of SMC.

Phinma Energy will supply Meralco with 200 MW, while SMEC and SPPC will tender 330 MW and 670 MW, respectively. The ten-year contract will run from Dec. 26, 2019 to Dec. 25, 2029.

Meralco said the three firms were issued their respective Notices of Award after passing the post-qualification evaluation. They will then require approval from the Energy Regulatory Commission (ERC).

A total of five companies participated in the bidding process, with the other two being SMC Consolidated Power Corp. and Masinloc Power Partners Co. Ltd.

The company earlier said that Phinma Energy’s bid was at a rate of P4.7450 per kilowatt-hour (kWh). SMEC’s bid was at P4.6314 per kWh, while SPPC’s was at P4.6314 per kWh.

The resulting prices from the selection process are lower than Meralco’s current average generation cost of about P5.84 per kWh. Once implemented, the new supply agreements could lead to savings of more than P9 billion annually for a 10-year period.

This is expected to reduce costs for consumers.

Should the power suppliers fail to provide their contracted capacity, they shall pay a fine of P908 multiplied by each MW-hour per day. This will be used to reduce the generation charge to consumers.

Meanwhile, Meralco also said that there were three winning bidders to supply their mid-merit power requirement of 500 MW from Dec. 26, 2019 until Dec. 25, 2024. This includes First Gen Hydro Power Corp for 100 MW, Phinma Energy for 110 MW, and SPPC for 290 MW.

They will still undergo a post-qualification evaluation and need approval from the ERC.

Meralco has another 20-year contract for 1,200 MW of its power requirements up for bidding.

Meralco’s net income attributable to the parent was flat at P12.007 billion in the first half of 2019, as revenues went up 9.57% to P164.95 billion.

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interest in BusinessWorld through the Philippine Star Group, which it controls.

Shares in Meralco fell 0.99% or P3.60 to close at P360 each at the stock exchange on Thursday.

Burn

By Menchu Aquino Sarmiento

Movie Review
ALIPATO — Ka Luis Taruc
Directed by Dik Trofeo

THIS DOCUMENTARY consists mainly of interviews with the former Huk Supremo Luis Taruc which were conducted during the last years of his life. By then, the filmmaker Dik Trofeo had grown so close to Taruc that he called Trofeo his second son. (Taruc had only one son: Romeo, by his first wife Feliciana Bernabe. He had three wives.) Other producers have attempted to make unauthorized bio-pics of Taruc, including one with action star Senator Lito Lapid, but Trofeo’s film has Taruc’s imprimatur. “Ka Dik” and his camera crew tagged along with the peripatetic Taruc on his provincial sorties to stomp for peasant cooperatives. By then, he had ceased to be either Maoist or Marxist and was inducted by the National Historical Commission into our National Hall of Heroes.

“The Philippine revolution needs to be indigenized,” observed National Artist for Literature F. Sionil Jose who was a young journalist during the post-WWII pistaym (peacetime) when the Huk was an armed force of 12,000 strong, with at least two million peasant and civilian sympathizers, or about 10% of our population then. Thousands had demonstrated when Taruc and his second-in-command, Casto Alejandrino, were detained by the Quirino Administration. Former South African President Nelson Mandela acknowledged his debt to Born of the People, written by Taruc under the pseudonym “Alipato (meaning ‘spark’ or ‘ember’), with help from the American sympathizer William Pomeroy who was married to an amazona (a female Huk). Mandela used Taruc’s book as a valuable resource on guerilla warfare for the armed wing of the South African National Congress.

Much of the film consists of Taruc reminiscing on the history he’d lived through, or expounding in extreme close-up, on his own political beliefs. He was an avid reader of the newspaper op-ed pages. He compared then newbie President Gloria Macapagal-Arroyo (GMA) to a harlot too quick to spread her thighs, upon her volunteering Philippine support for the US President George W. Bush, without even being asked, in the aftermath of the 9-11 terrorist attack on the Twin Towers in New York. This ungallant remark ostensibly reached GMA, who instead of getting mad at Taruc, offered him a Land Bank directorship.

Taruc refused: “You can’t buy me with dirty politics.” This line might be his meme, as it’s repeated throughout the film. Unfazed, GMA asks Taruc’s permission to offer the Land Bank board seat to his son Romy instead, who accepts. Perhaps it was GMA’s way of making up for her father, former President Diosdado Macapagal’s refusal to pardon Taruc during his term, despite their both being Kapampangan. President Ferdinand E. Marcos released Taruc in 1968, and he became the Apo’s poster boy for Marcosian agrarian reform. He explained that working with Marcos was necessary to get the Huk recognized as a legitimate guerilla force so that they could collect benefits as WWII veterans.

Taruc also explained the infamous massacre of former First Lady Doña Aurora Aragon Quezon and her entourage in April 1954. Quezon City Mayor Ponciano Bernardo, a member of Dona Aurora’s group, was said to closely resemble former President Elpidio Quirino who was purportedly the real target of the ambush. Doña Aurora’s ill-fated party was escorted to Baler by two army transport trucks which further misled the rebels into believing that they were there to protect Quirino himself. Taruc surrendered soon after the Quezon tragedy. He claimed that the late Benigno “Ninoy” Aquino, Jr. double-crossed him by failing to come through with the promised pardon from President Ramon Magsaysay.

Apart from the occasional archival footage, there are attempts at recreating history. Particularly moving is the re-enacted scene from Taruc’s boyhood, of his barely literate parents, who were tenant farmers, using kernels of corn to calculate what their portion of the harvest would be, vis-à-vis what they would have to give to their landlord, mostly in usurious interest payments. Sionil Jose, who calls Taruc a true nationalist, complained that the two-hour documentary was too long. Actually, given Taruc’s place as a leader of the prevalent counter-force to the infant Philippine government, this documentary might have worked better as a longer mini-series in the Ken Burns mode, so that every episode might focus in greater detail on an early developmental stage in our continuing struggle for democracy and nationhood. The events of 1946 when Taruc attempted to participate in legitimate government are barely mentioned. He was elected congressman then, but President Manuel A. Roxas maneuvered to immediately unseat him along with other members of the oppositionist Democratic Alliance. In the documentary, Taruc recounts how Roxas had earlier asked him to run as his vice-president. Taruc went underground again. In less than a decade, the Huk was decimated by infighting.

In “The Philippines A Century Hence,” our national hero Dr. Jose Rizal declared that: “All the petty insurrections that have occurred in the Philippines were the work of a few fanatics or discontented soldiers, who had to deceive and humbug the people or avail themselves of their powers over their subordinates to gain their ends. So, they all failed. No insurrection had a popular character, or was based on a need of the whole race, or was fought for human rights or justice; so it left no ineffaceable impressions… when they saw that they had been duped, the people bound up their wounds and applauded the overthrow of the disturbers of their peace! But what if the movement springs from the people themselves and based its causes upon their woes?”

Given its unprecedented numbers, the Huk was such a movement of the people. Taruc was not a fundamentalist though, of any school of Communist ideology. He deplored the hard-core intolerance of other Philippine Communist leaders for any dissent or perceived deviation from the book or the party line. Think of the NPA purges. Taruc’s vice, Casto Alejandrino, personally carried the order from the PKP (Partido Komunista ng Pilipinas) secretariat, to arrest his Supremo on charges of deviating from the party line, which led to Taruc’s surrender to the Magsaysay government.

A 1952 report on Philippine peasants noted “that the rank and file of tenants seek to become individual owners of the land they cultivate was proof against their adherence to, or understanding of the basic principles of communism. This knowledge, however, adds little comfort, for the fact remains that the strength and bulk of rebellious tenants are being used to support the communism which champions their cause.” This is still happening 70 years later. These may not be the last days though, when “our sons and our daughters shall prophesy, and our young men shall see visions.” Meanwhile, in Alipato, our old men dream their dreams.

Filinvest Land expands project in Pampanga

FILINVEST Land, Inc. (FLI) has broken ground for the second phase of its Hampton Orchards project in Pampanga.

In a statement issued Thursday, the Gotianun-led property developer said the 18-hectare project will offer lots for sale ranging from 156 to 469 square meters (sq.m.) each. The project, located between the cities of Angeles and San Fernando, is a joint venture with film producer and director Ben Yalung.

FLI is targeting families, overseas Filipino workers, and investors for the project.

Amenities in Hampton Orchards include an amphitheater, sundial, pocket parks, outdoor gym, and central orchard. This is in addition to the adult and kiddie pool, clubhouse, children’s playground, pool deck, multi-purpose court, gazebo, picnic huts, trellis, and mango orchard found in the first phase of the project.

“Hampton Orchards Phase 2 is currently in the pre-selling stage where buyers can still enjoy investment growth until the project nears its completion,” FLI Senior Vice-President and North Luzon Cluster Head Tristan Las Marias said in a statement.

“Furthermore, we foresee an upsurge in the project’s investment value as this project is ideally situated to take advantage of the opportunities abounding in the two highly urbanized centers of Angeles and San Fernando, especially that progress for the province of Pampanga, and Region 3 as whole, are fast gaining momentum and its economy is set to take flight.”

Hampton Orchards is part of the P30 billion worth of projects FLI committed to launch this year, almost double the P16 billion it unveiled in 2018. Its residential projects are under the brands Futura and Aspire, which cater to the affordable and middle-income markets.

Aside from the expansion of its residential business, FLI is also ramping up its recurring rental income business so that it would contribute 50% of the company’s total earnings in the future. The company targets to end 2023 with about 1.6 million sq.m. in gross leasable area.

Incorporated in 1989, FLI is the real estate arm of Filinvest Development Corp., which also has investments in banking, power, sugar, and the hospitality sector.

FLI’s net income attributable to the parent rose 15% to P3.1 billion in the first half of 2019, after gross revenues jumped 26% to P11.81 billion.

Shares in FLI dropped by a centavo or 0.60% to close at P1.65 each at the stock exchange on Thursday. — Arra B. Francia

Going back to Gilead

LONDON — Canadian author Margaret Atwood said a deterioration in women’s rights in some parts of the world including in the United States prompted her to write a sequel to her best-selling 1985 novel The Handmaid’s Tale.

The novel, made into an award-winning television series in 2017, presents a totalitarian future in the state of Gilead, where the few remaining fertile women are forced into sexual servitude as “handmaids” to repopulate a world facing environmental disaster.

The sequel,The Testaments, takes place 15 years after the events of the first book.

The book was released on September 10.

“For years and years people were saying will there be a sequel, please write a sequel, tell us what happened, and I always said I can’t do that,” Atwood told British broadcaster the BBC in an interview.

“But then a couple of things happened. Instead of going away from Gilead as I thought had been happening in the 1990s, we started going back towards Gilead in a number of places in the world including the United States.”

Recent moves to curtail access to abortion in the United States have caused huge division and galvanized women’s rights activists.

U.S. President Donald Trump, who was elected in 2016, has said he opposes abortions in most cases and he has joined many of his fellow Republicans in seeking to limit them.

Many doctors and rights groups are fighting these efforts as harmful to women’s health and in breach of a constitutional right to abortion.

Atwood said she was already conceptualizing a sequel to The Handmaid’s Tale when Trump was elected. At the time, the television series based on her novel was being filmed.

“The frame around the show changed, and we knew at that moment it would be viewed differently, which it was. So instead of fantasy — ha ha it will never happen — it got much closer to reality, because of the kinds of people backing Trump,” Atwood said.

The series helped the original novel shoot back up the bestseller lists, and made the handmaid’s uniform of a long dark red cloak and large white bonnet a symbol of female protest and resistance.

Fans gathered in London at midnight on Tuesday to hear Atwood read from her new book, hailing it as a timely and necessary response to an increasingly menacing world for women.

“The world in some ways is becoming a worse place for women and particularly in the United States and so this is very current, and very relevant and very necessary,” said Anne Enith-Cooper who attended the launch.

Another fan, 40-year-old Stacey Morris, said: “My daughter is 12 and she’s just starting to understand feminism and the importance of being a woman… I’d really like for her to read this in the future and to be able to share this with her.”

Asked if she was nervous about the huge anticipation of her new book, Atwood told the BBC: “There is that feeling that you have — a lot of fanfare, the mountain roars and out comes this mouse. Will they say ‘what?’, ‘is that what all this fuss has been about?’”

“You do have to point out it is a book, it is not regime change, it is not something that is going to physically impact the lives of many people, it is not riots in Moscow.”

The Testaments has already landed Atwood a nomination for one of the publishing world’s top accolades, the Booker Prize. — Reuters

Cebu Landmasters acquires resort in Mactan

CEBU Landmasters, Inc. (CLI) will be redeveloping the Abaca Resort Mactan in Cebu as part of efforts to expand its hospitality business.

In a statement issued Thursday, the listed property developer said it acquired the 4,328-square meter luxury resort in the Punta Engano area of Mactan island from The Abaca Group.

CLI will be turning the nine-room Abaca Resort into a 100-room all-suite luxury development by 2023. The resort will close in February 2020 to make way for the redevelopment.

The company will hire a foreign architect to design the project’s masterplan, which is seen to include a resort tower that will house Sky Villas.

The company has also signed a hotel management agreement with The Abaca Group to maintain the quality of operations in the resort.

“CLI and The Abaca Group will create world-class synergies that will allow us to maximize tourism opportunities in Cebu, a booming growth area supported by large-scale infrastructure development projects such as Terminal 2 of the Mactan Cebu International Airport,” CLI Chairman and Chief Executive Officer Jose R. Soberano III said in a statement.

For his part, The Abaca Group Founder Jason Hyatt said the redevelopment will help further grow Cebu’s tourism and hospitality industry.

“We have been approached by several developers to expand the brand… Having this unique partnership and opportunity to manage a premier property developed by the region’s premier developer is a significant step towards our vision of breaking out as the country’s top homegrown luxury hotel group,” CLI quoted Mr. Hyatt as saying in a statement.

This marks CLI’s second resort project in Mactan, after it also acquired the two-hectare Lowaii Marine Cebu Resort on the southern side of the island.

The company currently has 58 projects in different stages of development in the Visayas and Mindanao regions.

CLI has committed to spend P13 billion in capital expenditures this year, as it launches 29 new projects that can generate sales of about P25 billion. This will add 7,517 residential condominium units, 1,223 hotel rooms, and 161,034 square meters of gross leasable area under its portfolio.

Earlier this year, CLI said it is looking for about five to 20 hectares of land in the cities of General Santos and Butuan that can be turned into residential subdivisions targeted toward mid-income families.

CLI’s net income attributable to the parent went up 13% to P854.34 million in the first half of 2019, after revenues jumped 34% to P3.495 billion.

Shares in CLI rose 1.28% or six centavos to close at P4.75 each at the stock exchange on Thursday. — Arra B. Francia

Review of wage-setting system on track for completion this year

THE National Wages and Productivity Commission (NWPC) said it has completed the first portion of its review of the current wage determination system and is on track to meet the end-2019 deadline.

In an interview with BusinessWorld, NWPC Director Criselda R. Sy said that the first part of the study is finished.

Kakatapos lang ng (we just finished the) consultation with the board members… Right now yes, we are on track,” she said, adding that the consultations involved the labor, management and government sectors.

Ms. Sy noted that the consultations reviewed how the Wage rationalization Act or Republic Act 6727 was implemented in the past 30 years. The law authorizes the 17 Regional Tripartite Wages and Productivity Boards (RTWPBs) to determine wage orders in their respective areas.

RTWPBs are allowed to increase the minimum wages in the region once every 12 months unless a “supervening condition” emerges.

Minimum wages in the Philippines are P270 to P537, depending on the region. As of this year, Region 1 (Ilocos Region), Region 8 (Eastern Visayas) and Region 13 (CARAGA) have issued their wage orders for the year. Eight RTWPB wage orders are past their one-year anniversary: Cordillera Administrative Region (CAR), Region 4-A (CALABARZON), Region 6 (Western Visayas), Region 7 (Central Visayas), Region 9 (Zamboanga Peninsula), Region 11 (Davao Region), Region 12 (SOCCSKSARGEN) and the Autonomous Region of Muslim Mindanao (ARMM).

Ms. Sy said that NWPC is “crossing their fingers” that the study will be finished by the end of this year, as ordered by Labor Secretary Silvestre H. Bello at the end of 2018. The NWPC has also commissioned a third party to review the wage fixing system.

“The second component is the number crunching part which is the review of selected Macroeconomic data to see the outcomes of the minimum wage setting… The third party is reviewing this. We just give them data,” she said. — Gillian M. Cortez

Concert prices keep rising, fans keep paying

CONCERT ticket prices are going through the roof and not just for the super wealthy who pay thousands of dollars to see the best acts from the front row. Fans of all types are paying more to see their favorite musicians.

The average price of a ticket to the 100 most popular tours in North America has almost quadrupled over the past two decades, from $25.81 in 1996 to $91.86 through the first half of this year, according to researcher Pollstar.

Some of that increase was out of necessity. As piracy eroded music sales, artists began to lean heavily on concerts. Stars like Beyoncé and Taylor Swift can make more in a couple nights onstage than they can from a year of album sales. But something else was going on, too. Ticket sellers like Ticketmaster and AEG’s AXS saw fans would pay almost any price for their favorite acts, especially stars who only come around every few years.

“We all undervalued tickets for many, many years,” said Joe Killian, who runs a media consulting firm and founded a concert series in New York’s Central Park.

Just ask Bex Paul, who saw Pink perform live 11 times this year, traveling across Europe for multiple stops on the pop star’s tour. The London native had to start saving for it five years ago.

Paul fell in love with Pink as a teen, and first saw the singer, whose real name is Alecia Beth Moore, in 2002. As the Truth About Love Tour wound up in 2014, Paul and her girlfriend opened a bank account and began saving — 100 pounds ($122) here, 200 pounds there.

“We had no idea what the ticket prices would be,” she said.

It was much higher. For Pink’s U.K. fans, prices have climbed more than tenfold since 2002.

Higher prices have been good for the concert business. The live music industry surpassed $8 billion in revenue in 2017, and is on pace for another record in 2019.

Pink’s tour was the second-best-selling in the world in the first half of 2019, and No. 1 in North America, the top market.

It’s not just tickets, either. Music fans also face skyrocketing prices for food, beverages and merchandise. The average fan spent $20 at events in 2016 staged by Live Nation, the world’s largest promoter. This year, that figure is expected to reach $29, an increase of almost 50%.

If artists’ growing reliance on live music has led to any guilt about about appearing greedy, the rise of ticket resale sites like StubHub took care of that.

Ticketmaster and others have since developed the ability to change pricing at any moment, enabling artists to charge more upfront and keep more of the dollars that went to scalpers. They can also reduce prices closer to show time if tickets aren’t selling, or create special windows for true fans.

Still, promoters run the risk of alienating artists’ best customers. That’s especially true as more performers arrange VIP experiences, like collectible signings and meet-and-greets, for well-heeled customers. Jay-Z and Beyoncé, for example, charged almost $2,000 for such experiences.

“Big acts led the way,” Killian said. “They understood there were always people willing and wanting to pay more.”

For Pink’s Beautiful Trauma tour this year, Paul and her girlfriend spent an average of $170 each per show, and a total of more than $7,300 for travel, tickets and food, exhausting the money they saved.

But not every artist has embraced the new philosophy. Ed Sheeran booked the highest-grossing tour of all time while charging less than $100 a ticket, making him one of the cheapest of the top tours. He is adamant that his show be affordable to all his fans.

But Sheeran also offers a different kind of show than Beyoncé, Swift or Pink. He stands on stage, often alone, strumming a guitar while Beyoncé, on her latest tour, performed in front of dozens of musicians decked out like a high school marching band. The cost of mounting such shows has more than doubled as artists push the limits of the live experience, according to industry experts.

Pink’s approach to touring changed after her performance at the 2010 Grammys, when she sang “Glitter in the Air” while drenched in water and twirling high above the crowd.

Acrobatics are now an integral part of her set. She started many shows of the Beautiful Trauma tour hanging from a chandelier, singing while upside down, and then ascending to the top of the light fixture.

“You definitely get your money’s worth,” said Paul. “You can see what your money has gone into.” — Bloomberg