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RCBC’s Rizal MicroBank sees loans growing by 27-30% this year as it ramps up operations

THE THRIFT banking subsidiary of Rizal Commercial Banking Corp. (RCBC) expects to sustain its lending growth this year as it plans to improve the efficiency of its channels.
Rizal MicroBank (RMB) President Raymundo C. Roxas said the Yuchengco-owned lender is expecting to sustain the double-digit growth of its loan portfolio at about 27-30% in 2019.
If realized, it will outpace the 26% year-on-year loan growth the bank projects for 2018.
“[The sustained loan growth for this year] will be driven by raising further the productivity of our existing branches and loan officers,” Mr. Roxas said in a text message.
To increase its efficiency, the thrift lender earlier invested in a demographics-based credit scoring system, which will be coupled with alternative data.
“We expect this to improve our origination and approval process as well as credit risk taking,” Mr. Roxas added, noting that RMB will also invest in other technology to improve the lender’s operations.
The thrift bank said its three lending segments — microfinance, small business loans, and agricultural loans — will drive RMB’s loan growth for this year, as these products are mainly targeted for micro and small entrepreneurs with an asset size of P15 million and below.
“The use of loans is mostly for additional working capital and small percentage for small capital expenditure,” Mr. Roxas said.
RMB’s total loan portfolio is projected to be at P1.17 billion in 2018, up 26% from the P934 million recorded the previous year.
Rizal MicroBank or Merchants Savings & Loan Association, Inc. started its banking operations in 2010 after being acquired by RCBC in 2008.
It opened its first branch in Koronadal, South Cotabato in 2010, expanding its network in Mindanao and eventually in Southern Luzon after purchasing the 10 branch licenses of Pres. Jose P. Laurel Rural Bank.
Currently, RMB has 18 branches spread in Southern Luzon, Cebu and Mindanao.
Rizal MicroBank was the 32nd biggest thrift bank in the country in asset terms as of end-September with P1.48 billion. — Karl Angelo N. Vidal

China’s 2018 movie box office revenue growth slows

BEIJING — China’s movie box office revenue rose 9% in 2018 to 60.98 billion yuan ($8.87 billion), state media reported, a slower pace than the 13.45% clocked for the previous year.
Domestic films recorded ticket sales of 37.9 billion yuan in 2018, accounting for 62% of the total box office, the official Xinhua news agency said late on Monday, citing data from the State Film Administration.
Domestic films in 2017 accounted for 54% of total box office.
China is the second-largest movie market globally after the United States, though it already has more total movie screens after years of rapid expansion in theater networks.
The number of movie screens reached 60,079 across the country, an increase of 9,303 from 2017, Xinhua said. That compares to just over 40,000 screens in the United States, according to data from US-based National Association of Theater Owners.
China, which is on track to eventually overtake the North America film market, has become an increasingly important region for global producers looking to pump up their box office returns, despite a quota on imported films and strict censorship.
China has been seeking to promote home-grown productions to rival imported Hollywood films. But several big-budget Chinese films have flopped while more modest productions have done well, highlighting the challenges China faces. — Reuters

DA estimates crop damage from Usman at over P816M

THE Department of Agriculture (DA) said its crop damage estimate for tropical depression Usman was P816.17 million in regions south and east of Metro Manila, as far south as the Eastern Visayas.
The estimate covers the regions of Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon), Mimaropa (Mindoro, Marinduque, Romblon and Palawan), Bicol and Eastern Visayas, as of 8 p.m. of Jan. 2.
The DA said the damage amounts to 18,634 metric tons (MT) of agricultural product, affecting 40,075 hectares of farms and fisheries, affecting 36,902 farmers and fishermen.
Rice accounted for 90% of the total, worth P732.48 million for lost output of 15,633 MT. Usman affected 33,783 hectares of rice land and 30,422 farmers.
Damage to high-value crops was put at P41.60 million on lost volume of 2,715 MT, affecting 555 hectares and 1,770 farmers.
Livestock damage was P13.12 million, or 7,495 animals and affecting 44 farmers.
Fisheries damage was P871,050, affecting 90 fisherfolk growing tilapia, crab, shrimp, milkfish, and prawns.
Damage to agriculture facilities, specifically small-scale irrigation projects (SSIPs) was about half a million pesos. — Reicelene Joy N. Ignacio

BCDA invites bidders for Fort Bonifacio property

THE Bases Conversion and Development Authority (BCDA) is putting the Insurance Commission’s (IC) share in a 5,000-square meter (sq.m.) lot in Fort Bonifacio, Taguig City on the auction block.
In a notice published in a newspaper on Jan. 3, the BCDA said it is inviting bidders for the 2,500 sq.m. of Lot 3-A property located along Lawton Avenue.
The property is beside the National Mapping and Resource Information Authority (NAMRIA). It is also near McKinley West, Megaworld Corp.’s township on a former Joint US Military Assistance Group (JUSMAG) property.
The BCDA said the minimum acceptable bid for the property is P596.52 million. The amount includes a 6% capital gains tax, which will be paid once the contract is signed.
Interested bidders may purchase the terms of reference (TOR) at the BCDA Corporate Center in Bonifacio Global City for P100,000 until Jan. 22.
A pre-bid conference will be held on Friday at the BCDA Corporate Center. — VMPG

TESDA to push for improved construction pay

THE Technical Education and Skills Development Authority (TESDA) will conduct a study seeking to rationalize the pay scale for construction workers to attract more people to the trade and increase the number of applications for its training programs.
TESDA Deputy Director General for Policy and Planning Rosanna A. Urdaneta said that the agency wrote to the Department of Labor and Employment (DoLE), the Department of Public Works and Highways (DPWH) and private construction companies regarding its plans to push for higher pay for construction workers.
“One of the things we are now doing with them is coming up with a study with them on raising the pay scale,” she said in an interview with BusinessWorld.
She added that higher salaries in the construction sector “will make the industry more attractive to workers.”
The study is expected to be completed in a year.
“It will entail a lot of processes before we arrive at a pay scale,” Ms. Urdaneta said.
She added that part of the agency’s motivation is to attract more construction trainees by assuring them of employment at certain salary grades.
“Anyone who trains with TESDA should be employed according to the new pay scale, especially as that person builds up skills,” she said.
According to the Bureau of Local Employment (BLE), entry-level salaries for masons, welders, and, metal fabricators range from P8,000 to P13,000 a month. — Gillian M. Cortez

Daryl Dragon of pop duo Captain and Tennille, 76

LOS ANGELES — Singer and pianist Daryl Dragon, best known as The Captain of 1970s soft rock duo Captain and Tennille, has died at the age of 76, his publicist said on Wednesday.
Mr. Dragon died of kidney failure in Prescott, Arizona, on Wednesday, publicist Harlan Boll said in a statement.
Captain and Tennille were best known for their Grammy-winning 1974 hit song “Love Will Keep Us Together,” as well as the hits “Muskrat Love” in 1976, and “Do That to Me One More Time” in 1980.
They also hosted their own television variety series from 1976 to 1977.
Toni Tennille, who married Mr. Dragon in 1975, was with him when he died.
“He was a brilliant musician with many friends who loved him greatly. I was at my most creative in my life, when I was with him,” Ms. Tennille said in a statement.
The couple divorced in 2014 but remained friends.
Ms. Tennille said in a 2010 blog post that Mr. Dragon was suffering from an unspecified neurological condition that gave him hand tremors, seriously affecting his ability to play keyboards.
Mr. Dragon said in 2017 that his problems were a result of medication and that he was better.
Mr. Dragon was a classically trained pianist but preferred to play blues and boogie music instead of Bach and Beethoven. He played with Fats Domino and B.B. King and was also a backup keyboard player for the Beach Boys in the mid-1960s and early 1970s.
It was with the Beach Boys that Mr. Dragon got his stage name, thanks to his habit of wearing a ship captain’s hat while performing.
He met Ms. Tennille when they both toured for the Beach Boys, and they began performing together. They signed a record deal in 1974, releasing “Love Will Keep Us Together,” which held onto the No. 1 spot on the charts for eight weeks in the summer of 1975. Captain and Tennille also toured England, Australia, and Japan.
In 1976, they sang at the White House during the bicentennial celebrations of the American Revolution.
Wednesday’s obituary notice said that at Mr. Dragon’s request there would be no services, and suggested donations to organizations conducting research into neurological conditions. — Reuters

DICT to sign MoUs with more tower builders soon

THE Department of Information and Communications Technology (DICT) said it is looking to sign in the next two weeks memoranda of understanding (MoUs) with potential common tower providers (CTPs) pending a consensus on a shared telecommunications infrastructure policy.
Outgoing DICT chief Eliseo M. Rio, Jr. said in a text message on Thursday that around four more firms have shown interest in an MoU with the government to start operating as tower companies.
“We are still getting their feedback, but we got their assurance that they are facilitating it so that the MoUs can be signed before the 15th of this month. Some may sign as early as next week… But there is no target date,” he told BusinessWorld.
The four firms were not named, but at least six companies earlier surfaced as interested parties to operate as tower providers in the Philippines: Telenor Group, American Tower Corp., Frontier Tower Associates, China Energy Equipment Co. Ltd., IHS Towers and Globe Telecom Inc., through its GTowers Inc unit.
Before 2018 ended, DICT signed an MoU with ISOC Infrastructures, Inc. and ISOC Asia Telecom Towers, Inc., with the government committing to facilitate the rollout of towers for telco operators.
The 12-month MoU allows ISOC to enter into contracts with telcos to provide cell towers, while the DICT will assist by facilitating government permits, right of way and other requirements for construction.
Mr. Rio said for the rest of the interested CTPs, the MoUs “will contain basically the same provisions as that of ISOC, with some changes that pertain to provisions that concern the particular towerco (tower company).”
The DICT is currently working on an infrastructure sharing policy that will allow telcos to share towers provided by registered tower companies.
The draft memorandum circular presented in September by Ramon P. Jacinto, Presidential Adviser for Economic Affairs and Information Technology Communications, was met with criticism from potential tower companies and the Philippine Competition Commission for limiting the building of towers to only two independent providers for the first four years.
In a Facebook post on Thursday, Mr. Rio said Mr. Jacinto’s draft policy “would surely be challenged by the telcos in court” as it violates the franchise of existing telcos Globe and PLDT, Inc., which authorizes them to build their own towers.
“A telco’s franchise has the weight of a law and only another law, not a Department policy, a Memorandum Circular, nor an Executive Order can amend a law,” he said.
Mr. Rio said in a Dec. 20 text message that the signing of MoUs with interested CTPs will help finalize the revised policy.
“For example, if this exercise will show that only two or three CTPs are doing well, then the policy will accredit these, with those losing will be bought out by the fittest,” he told BusinessWorld, adding that CTPs may start operations even without the final memorandum circular. — Denise A. Valdez

ICTSI concession is South America’s 1st carbon-neutral port

INTERNATIONAL Container Terminal Services, Inc. (ICTSI) said its concession in Ecuador is first port to obtain a carbon-neutral certification in South America.
In a statement on Thursday, ICTSI said Contecon Guayaquil SA (CGSA) received the carbon-neutral certification from environmental ratings firm Sambito SA and the Ecuador Ministry of Environment for complying with International Organization for Standardization (ISO) 14064-1.
ISO 14064-1 refers to an organization’s quantification and reporting of greenhouse gas emissions and removals.
“This carbon neutral certification awarded to Contecon Guayaquil is a testament of our firm and unbreakable commitment to preserve the environment in our own way. This certification highlights, above all, a conviction and responsibility to guarantee eco-friendly and sustainable operations with less contaminating to the environment,” CGSA chief executive officer Jose Antonio Contreras was quoted as saying.
In 2007, ICTSI was awarded a 20-year operating concession for container and multipurpose terminals in Guayaquil, Ecuador. The contract was signed by ICTSI’s local unit CGSA and the port authority of Guayaquil.
CGSA said it has a designated team that monitors and forms mechanisms to reduce its industrial emissions at the Port of Guayaquil.
“Beyond port efficiency, the ICTSI Group has been making substantial investments to ensure an environmental-friendly supply chain, with the long-term vision of being able to secure appropriate certifications for all ports — regardless of location, project age, or stage of development,” ICTSI Senior Vice-President and Regional Head of the Americas Anders Kjeldsen said in the statement.
In the Philippines, ICTSI operates the Manila International Container Terminal, New Container Terminals 1 and 2 in Subic Bay and Cavite Gateway Terminal. It also operates terminals in several markets in Asia Pacific, Africa, Americas, Europe and Middle East.
In the nine months ending September 2018, ICTSI reported a 2.66% hike in its attributable net income at $153.29 million, driven by a 10% growth in revenues from port operations reaching $1 billion. — D.A.Valdez

Bad loans of rural, cooperative banks climb further

BAD LOANS held by smaller banks surged faster in September 2018 to outpace a modest expansion in total lending, data from the Bangko Sentral ng Pilipinas (BSP) showed.
Non-performing loans (NPLs) held by rural and cooperative banks rose by 14.2% as of end-September to P16.754 billion, coming from the P14.675 billion recorded during the comparable period in 2017.
This is faster than the 4.1% climb in total lending, which brought the loan portfolio of these small lenders to P140.962 billion from P135.393 billion the previous year.
NPLs refer to loans left unpaid at least 30 days past due date. These are considered as risky assets given a slim chance for borrowers to actually pay for their outstanding balances, which means losses for lenders.
With more soured debts, the banks’ NPL ratio rose to 11.89% of total outstanding loans, rising from 10.84% in September 2017.
Past due loans, which cover all types of loans which missed the payment deadline, soared by 31.5% to P21.922 billion, data showed. Meanwhile, restructured debts with longer repayment periods also picked up by roughly a tenth to reach P2.434 billion.
Unlike the bigger universal and commercial banks, rural lenders mostly cater to smaller clients and communities, with a focus on the farming sector as well as micro and small businesses operating in their area. They are considered as riskier segments compared to corporate borrowers.
With the higher share of problem loans, the banks hiked their allowance for possible credit losses to P12.747 billion, 11.7% higher than the P11.408 billion which they set aside previously. This is enough to cover 76.09% of the NPLs, providing some comfort that the lenders can stay afloat even if these unsettled accounts are written off.
Rural banks also saw a bigger deposit base in September, with the amount rising by 5.1% to P173.436 billion. This funded the loans granted by lenders.
The central bank keeps track of NPLs to assess the asset quality of lenders.
The BSP shut down 12 problem banks in 2018 after they found that the lenders were not viable to sustain their operations. Governor Nestor A. Espenilla, Jr. previously said that they are actively weeding out “weak” banks in the interest of consumer protection and financial stability.
GOING DIGITAL
In another development, the central bank is pushing all banks and financial firms to actively promote the use of electronic fund transfers among clients and personnel.
BSP Memorandum 2019-001 signed by Deputy Governor Chuchi G. Fonacier said that lenders have until March 31 to educate frontline staff in bank head offices and branches about the use of two automated clearing houses.
Lenders also need to post information materials and online links about the InstaPay and the Philippine Electronic Fund Transfer System and Operations Network or PESONet.
The central bank has required all banks and other financial firms to offer electronic banking portals and interbank transfer schemes in place by Nov. 30, 2018, in line with the regulator’s goal raising the share of e-payments to 20% of all transactions in the Philippines by 2020, coming from a measly 1% share back in 2013. — Melissa Luz T. Lopez

My 15 favorite nonfiction books of 2018

By Stephen L. Carter
Bloomberg Opinion
HERE are my nominees for the best nonfiction books of 2018. I haven’t read everything published this year, but I read a great deal, and these are my 15 favorites. Each reflects serious thought, research and argument. Each made me look at things in a new way. The first 14 are listed in random order (no tyranny of the alphabet). At the end is my choice for best nonfiction book of the year.
nonfiction books 2018 1
RICHARD SENNETT: BUILDING AND DWELLING: ETHICS FOR THE CITY
Sennett, who has been writing about cities for a good half century, has never been sharper. As the world grows more urban, he argues, we face a crisis: Cities are shaped by the designs of planners rather than by the actual lives, needs and beliefs of their inhabitants. People who live in cities should not only be free but feel free.
nonfiction books 2018 2
JOANNE B. FREEMAN: THE FIELD OF BLOOD: VIOLENCE IN CONGRESS AND THE ROAD TO THE CIVIL WAR
Think we’re divided now? In 1854, one member pulled a gun on another… on the floor of the House of Representatives. Freeman’s book is full of such vignettes. (Yes, the famous Sumner story is here). And our rhetoric pales next to the barbs exchanged in those days.
nonfiction books 2018 3
BRYAN CAPLAN: THE CASE AGAINST EDUCATION: WHY THE EDUCATION SYSTEM IS A WASTE OF TIME AND MONEY
I’m not sure he’s right, especially about education being almost entirely for the purpose of signaling, but goodness does he make a strong case. Agree with him or not, you’ll never look at the schools and colleges in quite the same way.
nonfiction books 2018 4
DAVID W. BLIGHT: FREDERICK DOUGLASS: PROPHET OF FREEDOM
Already lauded as the definitive book on Douglass, this volume by our foremost expert on the great orator showcases Douglass’s human foibles as well as his grand triumphs.
nonfiction books 2018 5
PAIGE WILLIAMS: THE DINOSAUR ARTIST: OBSESSION, BETRAYAL AND THE QUEST FOR EARTH’S ULTIMATE TROPHY
Less a dinosaur story than a heist story — how did that illegal Tyrannosaurs skeleton wind up at an auction in New York? — with plenty of fascinating details about the way that the market for fossils has distorted the incentives in paleontology.
nonfiction books 2018 6
DAVID QUAMMEN: THE TANGLED TREE: A RADICAL NEW HISTORY OF LIFE
Actually, more a history of the science that helps explain life. Never has molecular phylogenetics seemed so fascinating. And the discovery a few years ago of a new form of life is something I’d overlooked. But what I find particularly fascinating about this widely acclaimed volume is Quammen’s ability to show us, in lively prose, how terribly difficult science is: the false starts, the confirmation bias, the backbiting and jealousy, the lengthy detours that become expensive dead ends. And the personalities. (He’s particularly good on the controversial genius Lynn Margulis).
nonfiction books 2018 7
TYLER COWEN: STUBBORN ATTACHMENTS: A VISION FOR A SOCIETY OF FREE, PROSPEROUS, AND RESPONSIBLE INDIVIDUALS
Three cheers for long-termism! Pity that neither politics nor the psyche of (most) humans actually works that way. The writing, from my Bloomberg Opinion colleague, is at once amusing and relentless. A fun, provocative read.
nonfiction books 2018 8
JASON BRENNAN: WHEN ALL ELSE FAILS: THE ETHICS OF RESISTANCE TO STATE INJUSTICE
One of our most provocative philosophers argues that if we can use force to stop others from hurting people unjustly, we can also use force to stop the government from hurting people unjustly.
nonfiction books 2018 9
JUAN WILLIAMS: ‘WHAT THE HELL DO YOU HAVE TO LOSE?’ TRUMP’S WAR ON CIVIL RIGHTS
I am not generally a fan of polemics, but Williams is an elegant writer, gathers evidence dispassionately, and stays far away from political correctness. He skewers everybody. You needn’t agree with every word to find this a fine read.
nonfiction books 2018 10
SABINE HOSSENFELDER: LOST IN MATH: HOW BEAUTY LEADS PHYSICS ASTRAY
Turns out that mathematicians are doing great things, but the physicists not so much. Hossenfeld, a theoretical physicist and popular blogger on the subject, accuses her colleagues of being so in love with elegance that they don’t worry as much as they should about whether they’re right or wrong. (Parts of the book are tough sledding for the lay reader, but it’s more than worth the effort).
nonfiction books 2018 11
COLIN G. CALLOWAY: THE INDIAN WORLD OF GEORGE WASHINGTON: THE FIRST PRESIDENT, THE FIRST AMERICANS, AND THE BIRTH OF THE NATION
You may never look at the Father of Our Country in quite the same way after reading this finalist for the National Book Award. It turns out that Washington was not terribly kind to those who were here first.
nonfiction books 2018 12
JEFFREY C. STEWART: THE NEW NEGRO: THE LIFE OF ALAIN LOCKE
A brilliant biography, winner of the National Book Award, of the man who largely fostered the flowering of black art and writing that became the Harlem Renaissance and laid the foundation for much of African-American intellectual thought over the ensuing century.
nonfiction books 2018 13
GREGG EASTERBROOK: IT’S BETTER THAN IT LOOKS: REASONS FOR OPTIMISM IN AN AGE OF FEAR
So maybe the world isn’t going to pieces. Easterbook argues that if we study actual evidence, things are actually going well in the US and elsewhere in the world, economically, environmentally, demographically, and in most other ways. And most of what’s not working, he says, we have the tools to fix.
nonfiction books 2018 14
PHILIP HAMBURGER: LIBERAL SUPPRESSION: SECTION 501(C)(3) AND THE TAXATION OF SPEECH
Don’t be turned off by the provocative title. Hamburger asks a great question: Why exactly do we limit the political speech of charitable organizations? Answers it, too. The rule wasn’t handed to us on stone tablets; it’s always been politics, all the way down.
Finally, my choice for the best nonfiction book of 2018:
nonfiction books 2018 15
EARL SWIFT: CHESAPEAKE REQUIEM: A YEAR WITH THE WATERMEN OF VANISHING TANGIER ISLAND
I can’t remember a book in recent years that taught me quite so much. Every page is vivid and rich. Tangier Island, Virginia, famous as a source of soft-shell crabs, is going under, literally — a victim of rising seas, relentless storms, and a changing economy. Swift spends plenty of time on the ground, and so is able to pierce the veils of myth and mysticism that have long surrounded the community of fewer than 500 stalwarts, whose political and religious lives are far more complex and nuanced than their stereotypes suggest. He doesn’t agree with their beliefs, but his respect and affection for them are patent. A model for what serious reportage should be.
So those are my picks for 2018. Happy reading.
Martin Gurri, The Revolt of the Public and the Crisis of Authority in the New Millennium, would certainly have made the list, were it not a revised version of a book that was self-published in 2014 and then published formally in 2016.
 
Stephen L. Carter is a Bloomberg Opinion columnist. He is a professor of law at Yale University and was a clerk to US Supreme Court Justice Thurgood Marshall. His novels include The Emperor of Ocean Park, and his latest nonfiction book is Invisible: The Forgotten Story of the Black Woman Lawyer Who Took Down America’s Most Powerful Mobster.

A heck of a ride

By Alexander O. Cuaycong and Anthony L. Cuaycong
PART brawlers, part Japanese dramas, and part open-world experiences, Sega’s Yakuza games have always been a ridiculous but compelling blend of action and adventure. While they initially seem like compilations of conflicted ideas from a fever dream, their interesting, over-the-top antics and enjoyable combat systems are truly anything. Their stories keep you invested, and their atmosphere, taken individually or collectively, is nothing short of engrossing. Yakuza Kiwami 2, a remake of 2006’s Yakuza 2, follows pretty much the same formula. Featuring better graphics and sounds, enhanced gameplay, and new story elements, it does its best to keep the spirit of its source material while tacking on some of its own unique flair.
In Yakuza Kiwami 2, you follow the story of Kiryu Kazama, a former gang enforcer who struggles to put the old ways behind him. After the assassination of one of the Yakuza leaders threatens to spark an all-out war in the streets, he is reluctantly deprived of his peaceful existence and forced to take matters into his own hands. He finds himself back in the life he had tried so hard to avoid, and through the use of his fists, his charisma, and the sheer stoic nature of his character, he moves to find the men responsible for the killing and prevent any further bloodshed.
The main plot of Yakuza Kiwami 2 is solid, its serious tale of gang politics and violence complemented by its larger-than-life set pieces. Propelled by a great-looking and sounding foundation, the narrative elevates it and continually hooks you in. It can border on the absurd at times, but the way it flows seamlessly from one sequence to another is nothing short of sensational. And with new chapters added to fill in the blanks evident in the original, there’s plenty of the story to experience — and all of it interesting, if not great. Kiryu is thrown into all sorts of trouble, and when violence greets him, he possesses the wherewithal to hold his own against his opponents.
To be sure, combat is something Yakuza Kiwami 2 does very well. The battle mechanics aren’t overly complicated, and, in fact, make for fluid action and reaction. They reward aggression, patience, and skill. And while they don’t offer the stance-switching capacity of Kiryu in Yakuza Kiwami, the fast-flowing nature of fight sequences more than make up for the omission. He is able to dart, weave, and beat down his foes with his fists or any weapons he can lay his hands on, and Heat moves are just as flashy as ever. Earned by landing hits and dodging attacks, they entice you to engage in multiple sidequests.
Fortunately, Yakuza Kiwami 2’s nonlinear pursuits are anything but boring. Not always serious but invariably sure to entertain, they show that while the game’s open world may not be as expansive as other titles, it is nonetheless filled to the brim with content. Activities are always on hand for those willing to do them, and even as they would definitely be out of place in any other gang-themed action brawler, they’re right at home in the Yakuza series. What other game can have you singing in karaoke bars or playing golf, in the process giving that feeling of utter drollery, and yet keep you extremely engaged in its setting?
In a nutshell, Yakuza Kiwami 2’s ability to be comical and yet totally immersive is what makes it so engrossing. While the Yakuza series has never quite taken itself so seriously, the many antics Kiryu can perform in its latest release are just absurdly funny, but never too fantastic that it’s next to unbelievable. It takes itself seriously, but knows when to lighten up and have a laugh, even at its own expense. It can keep you hooked with its main story and, at the same time, entertain you with its side quests. It offers a stylized charm that no other series has been able to mimic, presenting a juxtaposition of comedy and drama without the slightest hint of regret.
In the final analysis, Yakuwa Kiwami 2 wonderfully treads the fine line between being weighty and being silly. It’s a brilliant game from start to finish; you never run out of things to do while uncovering a deep storyline at your own pace. Parenthetically, its biggest flaw isn’t that it does anything badly, but that it has to end at some point. Until then, it’s a heck of a ride that both those new to the Yakuza series and longtime fans will definitely love. It’s a high point that will make you look forward to more of the same.
Mutant Year Zero: Road to Eden
POSTSCRIPT
Mutant Year Zero: Road to Eden (PS4) — It takes a lot for developers to make games that prove more than what they seem and ultimately leave players with a lasting impression. While some titles don’t try to be anything more than temporary diversions, others strive for more than just a fleeting experience. Mutant Year Zero: Road to Eden is significantly of the latter kind, with The Bearded Ladies striving to combine environment-prompted storytelling and turn-based mechanics to produce a gripping and enjoyable release inspired by — believe it or not — a series of pen-and-paper role-playing games.
Mutant Year Zero: Road to Eden builds upon and brings its tabletop roots to life on the PlayStation 4, Xbox One, and Personal Computer. Players are thrust into the action as part of a group of Stalkers, mutants tasked with retrieving supplies and resources to fuel the settlement of Ark’s survival in a post-apocalyptic world. When one of the teams goes missing while on an expedition, they get to control a party of three characters in an effort to find Hammon, the chief operator of the city’s systems, as well as look into the existence of the mythical land of Eden. Along the way, they are compelled to scavenge for supplies and weaponry, and fend off the many dangers that lurk beyond the safety of Ark’s walls.
Graphics-wise, Mutant Year Zero: Road to Eden looks fair but doesn’t push the limits of its technology. Nevertheless, it sets itself apart though its character and background designs. Vegetation and ruins are heavily contrasted with stylized cityscapes. Abandoned shacks and dark forests are par for the course, and constructed well enough to make them feel unique and interesting. Alongside a wide variety of mutants, both friendly and otherwise, they succeed in setting the proper tone for the narrative to move along.
Parenthetically, Mutant Year Zero: Road to Eden’s gameplay holds up well. Its combat mechanics are straightforward but engrossing, playing out similarly to Firaxis’ XCOM releases, with characters being able to move and perform actions or dash to designated areas in turns. Pretty much standard fare as far as these games go? Perhaps. The Bearded Ladies makes its work stand out by adding a twist to exploration: Players are able to maneuver their squad in real time around the map, picking up much-needed supplies and even being able to ambush patrolling enemies and whittle them down one by one. It’s a simple quirk, but it creates some interesting scenarios and gives players some leniency on how to neutralize threats. Do they go in guns blazing once they’ve found some defendable areas? Do they lure enemies into manageable firing zones? Or do they move about the map and risk detection, but also get to take down stragglers to reduce the overall number of enemies?
The extent of freedom offered players is what makes Mutant Year Zero: Road to Eden so unique. Its interesting blend of gameplay elements framed within its grim and dark setting creates a captivating experience. That said, it has set rules, and is far from perfect as a result. The Random Number Goddess system, for instance, can lead to frustration, especially during times when a crucial shot can mean the difference between survival and death. It certainly doesn’t help that some enemies are brutally unforgiving and can easily beat players down if not approached properly. The lack of a meaningful level progression for characters is also a hindrance; the skills earned during gameplay and the weapons and armor that can be scavenged and bought seem like minor upgrades rather than major overhauls and do very little to spice up the gameplay once a routine is established.
For all the unpredictability of dicerolls in combat, Mutant Year Zero: Road to Eden is a straightforward story from beginning to end, focused more on its themes and less on its replay value. Nonetheless, it’s absolutely fantastic at its best and leaves players wanting for more. The first playthrough is especially revealing, cementing its status as a solid addition to the PS4’s extensive library of role-playing titles despite its flaws. (7.5/10)


Yakuza Kiwami 2 2

Video Game Review

Yakuza Kiwami 2
PlayStation 4
THE GOOD:

• Outstanding production values

• Compelling narrative

• Fun, fast-paced combat mechanics that rewards skill and smart play

• Plenty of side activities and minigames on offer

THE BAD:

• Comedic elements may seem overbearing

• Sidequests flirt with redundancy

• The “open world” can feel small at times

RATING: 9/10

National gov’t debt rises 11.8% to P7.195T

THE national government’s outstanding debt was P7.195-trillion in the 11 months to November, up 11.8% year-on-year, the Bureau of the Treasury (BTr) said on Thursday.
The latest figure is 0.4% higher than the P7.167 trillion posted in the 10 months ended October.
This is equivalent to 98.16% of the projected P7.33 trillion outstanding debt for 2018.
Some 65.42% of the debt or P4.707 trillion was borrowed from domestic sources, up 11.9% year-on-year.
Domestic debt also rose 1.9% from the end of October.
“For the month, the registered increase in domestic debt was due to the net issuance of government securities amounting to P88.33 billion as the committee fully awarded treasury bonds amid strong market demand. This was slightly offset by the appreciation of the peso,” the BTr said in a statement.
The peso appreciated to P52.389 at the end of November from P53.527 at the end of October.
Meanwhile, the government owes P2.487 trillion to foreign lenders, up 11.6% from a year earlier and down 2.3% from October.
“The decline was particularly large due to the impact of the stronger peso registered for the month as it relieved P54.15 billion along with net repayments on foreign obligations amounting to P5.89 billion. This was slightly tempered by the net appreciation of third-currency denominated external debt amounting to P0.21 billion,”the BTr said.
The government borrows from domestic and foreign sources to fund its budget deficit, which is capped at 3% of gross domestic product for 2018.
The government set a 65-35 borrowing mix for 2018, in favor of domestic sources. The share of foreign debt widened from 20% in the previous year, with the government seeking to take advantage of favorable interest rates.
This year, the government hopes to maintain a 75-25 borrowing portfolio in favor of domestic lenders to help manage exposure to external risk.
The government expects the debt as a share to the economy to decline to 38.6% in 2022 from 42.3% in the first nine months of 2018. — Elijah Joseph C. Tubayan