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‘Is this the real life?’

THEY SAID it would never sell, with its six-minute playing time, operatic passages and lyrics about Galileo and Scaramouche, but the Queen song “Bohemian Rhapsody” on Monday became the most streamed song from the 20th century.
Boosted by the new movie Bohemian Rhapsody, the 1975 single and music video surpassed 1.6 billion streams globally, record company Universal Music Group said in a statement.
The song overtook the likes of Nirvana’s “Smells Like Teen Spirit,” and Guns N’ Roses’ “Sweet Child O’Mine,” and is now also the most streamed classic rock song of all time, Universal added.
The Bohemian Rhapsody film, starring Rami Malek as late Queen front man Freddie Mercury, has brought the music of the British rock band to a new generation. Five weeks after its release, it has also become the highest grossing musical biography movie ever, with a global box office take of $600 million.
Mr. Malek was nominated for a Golden Globe last week for his performance and is widely expected to get an Oscar nomination in January.
Universal said it had been promoting the single across streaming platforms in recent weeks. It used all registered streams on global on-demand services including Spotify, Apple Music and Deezer as well as streams from official song/video streams on YouTube to determine that “Bohemian Rhapsody” was the most streamed song from the 20th century. — Reuters

P&A whistle-blowing service targets fraud

P&A GRANT THORNTON said it has upgraded its online subscription-only platform for whistle-blowers reporting fraud, known as the ProActive Hotline.
In a statement Thursday, the audit and tax advisory firm said the service allows whistle-blowers to report misconduct in the workplace securely and confidentially.
Persons reporting incidents can opt to remain anonymous and be assured of prompt reporting to the authorities.
“Unethical corporate practices sometimes go unreported in organizations because employees have become fearful of being targeted for reprisal or retaliation by perpetrators of fraud or misconduct,” Emiliano S. Librea III, partner and advisory services head of P&A Grant Thornton, said in the statement.
“This is why firms must provide an environment where witnesses can confidently yet anonymously report these malpractices,” he added.
The ProActive Hotline allows complaints to be tracked across the entire reporting process, ultimately generating anonymous reports for authorized individuals like the company’s internal auditor and chief executive officer.
“Whether one is a small-scale business or a huge conglomerate, any firm is vulnerable to fraud especially when its internal control systems are weak,” Mr. Librea said.
He also said early detection of fraud can save the company money. He cited a report by Association of Certified Fraud Examiners (ACFE), which found that companies with fraud hot lines are able to detect 46% of such incidents through tips.
Companies can subscribe to the service for an annual fee of P150,000.
Mr. Librea added: “Leadership must clearly define what fraud is and what it does to an organization. They have to be a good example to their people. Regular and frequent communication with employees about what is or is not acceptable behavior is best practice,” he said.
Punongbayan & Araullo (P&A) is the Philippine member of the Grant Thornton LLP network and a unit of Grand Thornton International Ltd. — Vincent Mariel P. Galang

D&L’s Batangas facility to get PEZA perks

THE planned manufacturing facility of D&L Industries, Inc. (DNL) in Batangas will be entitled to incentives, after getting the green light from the Philippine Economic Zone Authority (PEZA).
In a disclosure to the stock exchange on Thursday, the listed firm said its unit D&L Premium Food Corp. (DLPF) received a certificate of registration as an Ecozone Export Enterprise for its factory will manufacture vegetable fats and oils, as well as specialty food ingredients.
The facility, which targets to commence operations in 2021, will stand inside the First Industrial Township- Special Economic Zone in Tanauan, Batangas. This is one of two factories the company is currently constructing to expand its capacity for the next 20 years. The other factory is being built for DNL’s unit, Natura Aeropack Corp.
As a PEZA-registered company, DLPF will be entitled to tax incentives such as an income tax holiday; tax and duty-free importation of raw materials, capital equipment and machinery; and exemption from expanded withholding tax.
The listed oleochemicals and plastics manufacturer is pouring in P8 billion for this capacity expansion, which also involves the construction of about 50 storage tanks sized up to 2,000 cubic meters each.
The facilities will allow DNL to triple its current capacity, and support the company’s target to grow its export business to about 50% of revenues by 2025.
Shares in DNL gained 0.97% or 10 centavos to close at P10.40 each at the stock exchange on Thursday. — Arra B. Francia

A Star is Born leads film contenders for SAG awards

LOS ANGELES — Musical drama remake A Star is Born led a wide range of contenders for the Screen Actors Guild (SAG) Awards on Wednesday, landing four nominations, including best movie ensemble.
The film will compete for SAG’s top movie prize in a diverse group that includes superhero movie Black Panther, romantic comedy Crazy Rich Asians, rock biopic Bohemian Rhapsody and director Spike Lee’s historical drama BlacKkKlansman.
A Star is Born, released by AT&T Inc.’s Warner Bros, features Bradley Cooper and Lady Gaga in a classic story about a young woman trying to make it in the music business. Both actors were nominated for individual awards for their performances.
The SAG awards are closely watched as an indicator of likely Oscar success because actors form the largest voting group in the Academy of Motion Picture Arts and Sciences.
In the last 23 years, only one film has won the best picture Oscar without being nominated for SAG’s top ensemble prize, last year’s The Shape of Water.
SAG award winners will be announced on Jan. 27 at a ceremony in Los Angeles.
Black Panther and Crazy Rich Asians were both heralded as milestones for diversity in Hollywood, which has faced criticism for under-representation of actors and filmmakers of color. Black Panther was the first big-budget superhero movie to star a predominantly black cast, while Crazy Rich Asians was the first film with an all-Asian cast from a major Hollywood studio in 25 years.
Vice, which garnered the most Golden Globe nominations, earned SAG acting nods for Christian Bale and Amy Adams for their roles as former Vice-President Dick Cheney and his wife, Lynne.
Other actors nominated for leading roles included Rami Malek for playing Queen lead singer Freddie Mercury in Bohemian Rhapsody, Viggo Mortensen for road-trip comedic drama Green Book, and John David Washington for BlacKkKlansman.
In the running for lead actress were Emily Blunt in the musical sequel Mary Poppins Returns, Glenn Close for drama The Wife, Olivia Colman for British historical comedy The Favourite, and Melissa McCarthy in Can You Ever Forgive Me?
Ms. Blunt scored a second acting nod for her supporting role in horror film A Quiet Place. Ms. Adams and Emma Stone also earned two acting nominations each.
In TV, Amazon.com Inc. comedy The Marvelous Mrs. Maisel and Netflix Inc. drama Ozark topped the list of SAG nominees with four nods each.
Black Panther and Mary Poppins Returns were released by Walt Disney Co. Bohemian Rhapsody, The Favourite, and Can You Ever Forgive Me? were distributed by Twenty-First Century Fox Inc.
In addition to A Star is Born, Warner Bros released Crazy Rich Asians, while The Wife was distributed by Sony Corp. — Reuters

BPO industry to offer workers online tech courses

THE Information technology and Business Process Association of the Philippines (IBPAP) said it launched a new platform to offer online coursework to industry employees, allowing them to upgrade their skills and prepare them eventually for higher-value jobs.
IBPAP teamed up with CloudSwyft Global Systems Inc. (CloudSwyft) to establish the platform.
IBPAP said in a statement on Thursday that the platform is called the IBPAP Learning Switch portal, offering a number of in-demand workplace technology courses.
IBPAP President and CEO Rey C. Untal said in the statement that the program is “focused on upskilling and reskilling our workforce to ensure that they can adapt to the ongoing digital transformation. Programs such as this will aid the industry’s pivot to higher-value jobs and services.”
The Learning Switch Portal offers hundreds of Microsoft Corp. courses in eight learning tracks. The portal features exercises, quizzes and activities, allowing users to earn globally-recognized certificates from Microsoft.
Users that complete each track are eligible for a Microsoft Professional program Master Certificate.
CloudSwyft offers over 160 technology courses.
“Through our partnership with CloudSwyft, we hope to reach and encourage more Filipinos to take the initiative to learn and improve themselves. We have provided the necessary tools for them to succeed in the IT-BPM industry and we look forward to them taking advantage of this opportunity,” Mr Untal said. — Gillian M. Cortez

Bourse operator creates real estate subsidiary

THE Philippine Stock Exchange, Inc. (PSE) will establish a new subsidiary that will handle its real estate assets, including its old office in Ayala Avenue, Makati City.
In a disclosure posted on Thursday, the PSE said its board of directors has approved the incorporation of PSE Realty, Inc. (PRI). The wholly-owned unit will have a capitalization of P1 billion, of which P701.80 million will be subscribed and paid-up.
The PSE earlier said that it can either sell the office spaces in Ayala Tower One or rent them out instead.
The bourse operator moved out of its office in Ayala Tower One last February, in favor of the new PSE tower along Bonifacio High Street. The new building stands 26-storeys high and has a gross leasable area of 30,000 square meters. Aside from the PSE, the building also houses more than 100 active trading participants.
The PSE has already sold its old office, the PSE Tektite Building in Ortigas Center, to Philippine Realty Holdings Corp. (Philrealty) for P257.18 million in August last year. Philrealty was the developer of the Tektite Building. — Arra B. Francia

UnionBank shifts to corporate bonds for fund raising

UNIONBANK of the Philippines, Inc. will no longer tap its long-term negotiable certificates of deposit (LTNCD) program as the lender can now raise fresh funds through corporate bond issuances.
UnionBank Treasurer and Chief Financial Officer Jose Emmanuel U. Hilado said the Aboitiz-led lender will no longer use its LTNCD facility since raising funds through peso fixed-rated bonds is easier for local banks.
“No, because this (peso fixed-rate bond) is a better instrument,” Mr. Hilado told reporters following the listing of its P11-billion peso bond at the Philippine Dealing and Exchange Corp. last week, adding that LTNCDs carry higher reserve requirements and entail prior central bank approval.
“[A peso bond] has a 6% reserve requirement compared to the 8% of the LTNCD.”
Circular No. 1010 issued by the Bangko Sentral ng Pilipinas (BSP) in August simplifies the process for universal and commercial banks looking to raise funds via bonds, aligning the industry with standards for other privately-owned firms.
The reform forms part of streamlined rules designed to deepen capital markets.
“Unlike LTNCDs, the bonds don’t need prior BSP approval, so I think that’s one of the reasons why the BSP came up with this product. It’s a more efficient product,” Mr. Hilado said.
Following the central bank’s simplified rules on banks’ fund raising, UnionBank and other lenders such as Metropolitan Bank & Trust Co. and Bank of the Philippine Islands established their own peso bond and commercial paper programs. For the first tranche of its own program, UnionBank raised P11 billion.
LTNCDs, like regular time deposits, offer higher interest rates but cannot be pre-terminated. Instead, these can be sold at the secondary market. In February, UnionBank raised P3 billion through LTNCD issuance, part of its P20-billion program approved by the BSP.
UnionBank booked a P6.1-billion net profit in the first nine months, lower than P6.4 billion a year ago, due to higher rates and its inability to issue loans for teachers.
Shares in UnionBank closed flat on Thursday at P65 apiece. — Karl Angelo N. Vidal

Manila welcomes Aquaman cast, director

NINETEEN-year-old JC has been a DC Comics fan since grade school. On the afternoon of Dec. 11, he went with his uncle to SM Mall of Asia for the “Aquaman in Manila” fan event where the actors of the film based on the DC Comics title and the film’s director were to meet lucky fans. JC and his uncle stood at the back of the activity center, trying to get a glimpse of the stage across a sea of excited fans. JC clutched a movie poster hoping to get the actors’ autographs.
For 30 minutes, actors Jason Momoa and Amber Heard, and director James Wan greeted fans and signed autographs at the SM Mall of Asia music hall. They were in the country for the Asian premiere of Aquaman.
Aquaman is the origin tale of the superhero, following Artur Curry who discovers his true identity as half-human and half-Atlantean. Curry is challenged to take his place as king and fight against his half-brother Orm before he unites seven underwater kingdoms against the surface world.
Director James Wan told fans that they could expect “amazing action and visuals,” while actress Amber Heard, who plays the Xebellian princess Mera, mentioned a fight scene where “Aquaman and Mera are in town” as her favorite and most challenging stunt in the movie.
For actor Jason Momoa, who plays Aquaman, bringing diversity into the superhero world was a valuable takeaway from playing the role.
“I can’t believe that we’re almost in 2019 and there is no brown-skinned superhero,” Mr. Momoa, who hails from Honolulu, Hawaii, told fans. “It’s the biggest honor to represent the islands and to represent diversity.”
The DC movie also stars Patrick Wilson as Orm, Willem Dafoe as Nuidis Vulko, Dolph Lundgren as Nereus, and Nicole Kidman as Queen Atlanna.
Aquaman is now showing in theaters nationwide.
Thanks to the crowd, it is unlikely that JC got his posters signed. — Michelle Anne P. Soliman

Hyundai Motor unveils sweeping executive reshuffle

SEOUL — South Korean conglomerate Hyundai Motor Group shook up its executive ranks on Tuesday and appointed its first foreign head of research and development, raising expectations of a smooth transition of power at the family-run business empire.
The reshuffle, first reported by Reuters on Tuesday and confirmed by Hyundai on Wednesday, is part of preparations for generational change in the executive ranks at South Korea’s second-largest family-owned business empire.
Group President Albert Biermann, a German former BMW executive, was named head of research and development, replacing longtime executives Yang Woong-chul and Kwon Moon-sik. The move was seen as a significant step to bring in fresh ideas at the Korean-dominated group.
In all, 17 top executives were reassigned across the group including at Hyundai Motor Co and Kia Motors Corp — which together form the fifth-biggest automaker in the world.
The move follows the promotion of Euisun Chung in September to Hyundai Motor’s executive vice chairman, moving him closer to succeeding his 80-year-old father, Mong-Koo Chung, as group chairman.
It comes as Hyundai Motor Co battles to reverse falling profits as a result of U.S. recall costs and weak sales in the U.S. and Chinese markets.
Hyundai Motor Co shares jumped as much as 9 percent to their highest level since Oct. 10, while shares in affiliates like Hyundai Mobis, Hyundai Wia and Hyundai Glovis also rallied.
While the announcement by Hyundai on Tuesday of a major investment in fuel cell production also lifted sentiment, analysts said most of the share price rise could be attributed to the leadership changes.
In particular, it signaled that the junior Chung was making progress with his plans to restructure the sprawling group after a previous plan was scrapped due to opposition from U.S. hedge fund Elliott.
“The reshuffle signals that the junior Chung is tightening his grip on the conglomerate, a move which raises investors’ hopes for change,” said Kim Joon-sung, an analyst at Meritz Securities.
In a sign that Chairman Chung’s grip may be weakening, one of his closest lieutenants, Hyundai Motor Co Vice Chairman Kim Yong-hwan, was reassigned away from the core automaker and named vice chairman of steelmaking affiliate Hyundai Steel.
A person familiar with the matter told Reuters on Tuesday that the reshuffle was “part of a generational change (the junior) Chung is pushing for.”
Hyundai Motor Co chief innovation officer Youngcho Chi was promoted to president, as the automaker tries to catch up with its rivals in future technologies such as car-sharing.
Biermann, a former BMW performance vehicle development official, is one of several foreign executives that heir apparent Chung, 48, has brought into the traditionally Korean-dominated group. — Reuters

Smart brings LTE, LTE-A network to Bulacan

PLDT, Inc.’s wireless unit Smart Communications, Inc. said it rolled out its long-term evolution (LTE) and LTE-Advanced (LTE-A) network in several towns in Bulacan.
The telecommunications firm said in a statement on Thursday the upgraded network may be enjoyed by Smart, Sun and TNT subscribers in the cities of Malolos, San Jose Del Monte, Obando, Balagtas, San Ildefonso, San Miguel, San Rafael and Pulilan. It added it is also bringing its LTE network to Doña Remedios Trinidad for the first time.
“Our network upgrades in Bulacan are part of our nationwide efforts to bring better connectivity across the country, in order to improve the lives of our customers and their families, and to enhance the productivity of Bulacan’s businesses and enterprises,” PLDT-Smart Senior Vice-President for Network Planning and Engineering Mario G. Tamayo said in the statement.
Smart noted it was able to record speeds between 40 Megabits per second (Mbps) and 70 Mbps when it tested the network using LTE-A capable devices in locations such as Malolos, San Rafael and Santa Maria.
Aside from expanding the coverage of its LTE and LTE-A network, the company is also boosting its carrier aggregation rollout, which allows users to enjoy faster speeds by combining at least two bands of radio frequencies that make for a bigger pipe with bigger capacity.
“Mobile internet experience is best experienced with LTE, and with the appropriate devices, the frequency bands and carrier aggregation that our network supports,” Mr. Tamayo added.
Smart said it already has more than 14,400 base stations that are LTE-ready all over the country as of September.
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

Klandestine

By Noel Vera
Video Review
BlacKkKlansman
Directed by Spike Lee

SO GET this — Ron Stallworth becomes the first black police officer in a large largely white town (the “Jackie Robinson of the Colorado Springs police force” as his superior puts it). He is consigned to the records room, requests a transfer to undercover; sees a recruitment ad for the KKK, dials the number, gets an unexpected voice at the other end, improvises a racist rant, is invited to join the group.
Sounds like one of the more outrageous skits dreamed up for the short-lived but memorable TV show In Living Color — but it’s a true story, based on Stallworth’s autobiographical account Black Klansman.
Spike Lee’s BlacKkKlansman (2018) isn’t subtle but it’s damned entertaining. Stallworth (played by Denzel’s son John David Washington) can’t go to the meeting himself (of course) so he sends Detective Flip Zimmerman (Adam Driver playing a heavily fictionalized character) in his place.
The film runs with this highly unlikely premise, and part of the fun of the picture is watching Stallworth and Zimmerman constantly being caught off-balance by the challenges and opportunities thrown their way, having to think fast on their feet in response. At one point one of the Klansmen suspects Zimmerman of being Jewish and wants to apply a lie-detector test at gunpoint; at another Stallworth finds himself on the phone with the Klan’s Grand Wizard, David Duke (a hilariously bland Topher Grace) and they develop a surprisingly (Chillingly?) warm rapport.
Driver plays Zimmerman as an unselfconscious lump who, thanks to the Klan’s virulent anti-Semitism, develops some awareness of his racial identity. Grace’s Duke is by turns hilarious and frightening: hilarious in his obtuse racism, frightening in that his vanilla, almost wholesome, charm is what may have helped sell the Klan as an increasingly acceptable presence in 1970s America — a perhaps an even more acceptable presence in America today. In their scenes together Duke suggests a loneliness, a desire for contact that seems almost likable — Lee even feels he has to apply the brakes a little, have Stallworth motion his colleagues around him so they can have a collective laugh. It’s a tribute to Grace’s sly subversively vulnerable performance that you almost feel sorry for the man.
Almost. Lee blurs the lines a bit but at one point or the other makes it thoroughly blaringly clear where he stands on the issues, arguably the film’s main weaknesses. His Klan folk are mostly dense; paranoid but easy to outmaneuver; and unthinking in the way they mouth racist rants — Grace’s Duke is arguably an exception, though even he has his moments of fecklessness.
Lee begins the film with Alec Baldwin playing a fictitious professor clumsily speaking Klan talking points, forgetting his lines, asking for cues from an unseen assistant; big contrast to Stokely Carmichael (a.k.a. Kwame Ture) whose speaking engagement Ron is assigned to attend — Lee turns up the visual rhetoric during his speech, photographing Ture (Corey Hawkins) from various dramatic angles, confronting him with a sea of faces shining with admiration. Ron is understandably impressed, and feels doubt about his mission of infiltration.
That would be the film’s other main flaw: Boots Riley, director of the year’s other most outrageous comedy Sorry to Bother You, tweets an indictment of Ron Stallworth, claiming his role in monitoring black activist groups was more extensive and more malignant than what is shown on-screen.
Riley goes on to make other claims, some of which seem a little extreme, but his basic point is valid: history does suggest that the police and the FBI had an antagonistic even violent relationship with these groups (There’s no direct evidence linking Stallworth, but records were reportedly destroyed). Lee does go a long way to softening this period of Stallworth’s career — showing him voicing doubts, showing him form a relationship with a fictitious black activist girlfriend named Patrice (Laura Harrier) who further troubles his mind on the issue.
Lee eventually responded in an interview “Look at my films: they’ve been very critical of the police, but on the other hand I’m never going to say all police are corrupt, that all police hate people of color. I’m not going to say that. I mean, we need police.”
If the film has scenes that soft-pedal and fabricate — and Lee is hardly the first filmmaker to do so in a biopic — it also has scenes of considerable power. At one point, the Klan screens Birth of a Nation, D.W. Griffith’s monumental potboiler that helped revive the movement; Lee takes a page from Griffith’s own playbook and intercuts the screening with one Jerome Turner (Harry Belafonte) telling the true story of Jesse Washington, who was lynched in Waco, Texas. Lee later fast-forwards to the Unite the Right rally in Charlottesville, Virginia, which ended with the death of Heather Heyer.
This, I submit, is Lee’s strongest point: if the racists portrayed in this picture are so easy to outwit then why Trump’s ascendancy? What led us to the Unite the Right rally, and why did that driver feel he had to ram his car into a crowd of people? Lee doesn’t provide answers — but he’s always been a provocateur, always willing to prod us to at least try and respond.
BlacKkKlansman is available on Youtube, Vudu, Amazon, and Google Play.

RCBC Bankard to grow card base

RIZAL COMMERCIAL Banking Corp.’s (RCBC) credit card arm RCBC Bankard Services Corp. is eyeing to grow its card base next year as it continues to expand its digital channels.
RCBC Bankard is targeting to have an additional 180,000 cards in 2019 as it plans to grow its online platform in acquiring more customers, its top official said.
“We want to grow our internet channel. We know that the younger generation is moving towards digital channels. It’s definitely an area we want to focus on,” RCBC Bankard President and Chief Executive Officer Simon Javier A. Calasanz told BusinessWorld in a recent interview.
RCBC Bankard is the sixth biggest in the industry in terms of card base at 680,000 — which it said is expected to grow to 700,000 cards by yearend.
If fulfilled, the firm will end 2019 with a card base of 880,000, 25.7% bigger from this year.
Mr. Calasanz said its digital platform is the “more important” distribution channel apart from its direct sales force and bank branch as the firm saw a pickup in its online application.
To further expand its digital platform, he said the credit card firm is set to launch a mobile application and other technologies such as chat-bots and voice biometrics in its contact center.
“Through voice biometrics, the security procedure will be cut down to 15-20 seconds from one minute, which will improve customer service and security as well,” he said.
Aside from this, Mylene J. Bico, RCBC Bankard senior vice-president, said the credit card firm will continue to partner with other brands to sustain the growth of its card base.
“More than our existing channels, we want to tie up with partners like AirAsia which has a huge customer base already so that we have a steady source of card applications,” Ms. Bico said, noting that RCBC Bankard “might have one [partner] for retail” on the pipeline.
Amid its rapid growth in terms of cards and spend growth, Mr. Calasanz said RCBC Bankard is also affected by the rising interest rates environment. However, he noted the firm “has been weathering that storm quite well” due to its improving portfolio quality.
“[The rising interest rates do affect us,] because as interest rate increase, cost of funds also increase because of inflation. However, it’s been negated by our improvement in terms of delinquency,” he said.
“We’ve been able to manage our delinquency quite well. Over the past three years, our delinquency levels have decreased by 200 basis points.”
The central bank has raised its benchmark rates by a cumulative 175 basis points since May to rein in inflation expectations.
Inflation last month decelerated to 6% from a nine-year high of 6.7% logged in October and September, affirming views that it will return to the government’s 2-4% target next year.
RCBC Bankard said it has been among the top three credit card firms in terms of growth rate, doubling the industry’s card base and force growth of 6-7% and 15%, respectively. — Karl Angelo N. Vidal

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