IC sets rules for web aggregators

October 19, 2018 | 12:02 am

By Karl Angelo N. Vidal, Reporter
THE Insurance Commission (IC) has set new rules for the regulation and supervision of insurance web aggregators.
The IC said in a statement on Thursday that the so-called “price comparison websites” will now be under the supervision of the commission.
Insurance web aggregators are internet-based platforms that provide insurance policy quotations from various insurers based on pre-determined set of needs provided by clients.
“With the development and existence of web aggregators for insurance products, we saw the need to require them to register with us and to put in place regulatory requirements aimed at protecting the insuring public,” Insurance Commissioner Dennis B. Funa was quoted as saying in the statement.
According to the circular letter, applicants are required to submit their business model and system framework or module of operation as well as copies of their agreement with insurance firms, among others.
Online aggregators and insurance companies are must also incorporate in their agreement several provisions mandated by the commission aimed at protecting the public.
The web-based aggregators are prohibited from engaging in any business other than their objective, such as acting as an insurance agent or an insurance broker.
Aggregators must also display authentic product information as well as factual data to ensure the information displayed are up to date and reflect the true features of the products.
“We recognize the increasing number of insurance comparison websites and the important role they play in boosting the online market for insurance products,” Mr. Funa added. “We likewise recognize the need to regulate [these platforms] to ensure that both the insuring public and the insurance industry are protected.”
In 2014, the IC promulgated the Guidelines on Electronic Commerce of Insurance Products, a uniform framework on online solicitation of insurance products by industry players, putting online selling of insurance products within its purview.
Existing online insurance aggregators include MoneyMax.ph, eCompareMo.com, DirectLink, iChoose.ph, GoBear, MoneyMonster.ph and Citinsure, among others.
Moritz Gastl, country manager of MoneyMax.ph, views the regulation of the IC as “very positive.”
“We view this as a very positive step and it shows that the IC is looking to create the right framework for new business models in the insurance industry,” Mr. Gastl told BusinessWorld via e-mail.
“First and foremost, it will help the IC to get an overview of the web aggregator space and its different business models.”
He added that the online platform is looking forward to support the commission in boosting digital offerings while making sure that the firm is complying with the rules and regulations.

The undisputed king

October 19, 2018 | 12:01 am

By Anthony L. Cuaycong
LET’S FACE IT. The NBA 2K franchise is a venerable one built on both the intrinsic pull of its source material and the collective talent of its developers. Never has the National Basketball Association (NBA) been more popular, and its already immense global reach — propped up by outstanding leadership and instantly recognizable marquee names — continues to grow by the day. Meanwhile, Visual Concepts has turned the otherwise-vicarious experience of appreciating matches at the sport’s highest level into an extremely impressive undertaking.
Needless to say, exceedingly high expectations borne of previous successes have accompanied the release of NBA 2K19. Even as sports titles are an acquired taste, the series has continually managed to draw in a wide swath of the gaming public, including multi-discipline sports buffs who normally gravitate toward real-life preferences, and casual button mashers out for adrenaline-pumping action devoid of violence. Its immediate past iteration sold north of 10 million copies, and it expects to generate at least as much business this time around.
Which, in a nutshell, is why the NBA 2K series has engendered extreme loyalty over the last two decades and, along with the likes of Borderlands, Civilization, and WWE 2K, counts among Take-Two Interactive’s flagship franchises. Despite the high number of main releases in its lifetime, it has managed to continually churn out bigger and better offspring. And for NBA 2K19, the improvements are evident from the get-go, its gorgeous looks manifesting in everything from the courts to the players’ faces to the action itself.
Needless to say, NBA 2K19 benefits from the latest advances in technology to meet its overriding objective of approximating real life. Painstaking care has been taken to make gamers feel truly part of the proceedings. Cutscenes and animated sequences flow naturally and, save for the stilted dialogue on occasion, manage to set up the action well. Meanwhile, the Face Scan feature is much improved vis-a-vis its predecessor’s, allowing it to transcend its arm’s-length leanings and boast of as firsthand an offering as possible.
For gamers who want the best version of NBA 2K19, the PlayStation 4’s is the way to go. It’s stunning graphically and aurally, and the DualShock 4 trumps other controllers in terms of executing complex players’ moves. And while it provides neither the on-the-go option of the Switch nor the native 4K resolution of the Xbox One X, it nonetheless comes out ahead because of its humongous ownership base. Unlike the competition’s ecosystems, Sony’s is extremely populated, making interaction with others online a breeze; Microsoft’s looks grand, but isn’t as dense, while Nintendo’s is especially barren, thus negating any advantages of undocked gameplay.
In terms of the on-court action, NBA 2K18 plays smoothly and runs fairly well. As with previous incarnations, it displays a natural smoothness to the animations, and in-game players control and handle naturally, even for series neophytes. The programmers’ painstaking level of care and attention is evident in the visceral feast. As with previous iterations, graphical bugs occasionally manifest themselves, and the feedback can be jarring at first; over time, though, they can be welcome injections of levity in the midst of intense battles.
Quick games aside, NBA 2K19 will invariably be getting the most mileage through its MyCareer mode. Providing a Create-And-Control-Your-Own-Character system, MyCareer is basically the game’s story track, entitled “The Way Back” and delivered with elements more commonly found in role-playing games. And, in this regard, it takes pains to deliver an enveloping experience. It begins with character creation, wherein gamers can craft their player to their liking and, yes, even to their likeness through the use of a smartphone app. They are then thrust into the Prelude, which serves to inform them of their player’s plight; not good enough to be drafted in the NBA, he gets to hoop in China and then advance to the G-League before he meets his objective and makes it to the bigs.
Make no mistake. The process isn’t as simple as it sounds. En route to unwrapping the narrative, the player will have to choose teams, negotiate contracts, prove his worth on the court, and hone his skills and develop new ones required for him to progress. Parenthetically, MyCareer grants access to “The Neighborhood,” an online hub that has him roaming around and doing whatever he pleases in semi-open-world fashion. In short, it’s the mode that gives players the best bang for their buck.
On the flip side, MyCareer is likewise where gamers are encouraged to part with real bucks. How good their respective players can become is determined by upgrades as acquired through Virtual Currency (VC) either toiled for or bought outright. The good news is that NBA 2K19 has made these easier to be earned. Notably, its immediate past predecessor all but compelled real-life spending in order to bypass the intense grinding otherwise required for character improvements. The bad news is that progression via in-game work remains tedious and time-consuming, what with myriad individual skills needing to be improved and higher-level upgrades becoming more expensive. Simply put, the appeal of microtransactions continues to be underscored by evident pay-to-win features.
That said, NBA 2K19 delivers in spades. MyGM and MyLeague, its management-sim components, are deep and engrossing. Meanwhile, competition is enhanced by subtle and significant changes that serve not just to satisfy, but to delight; among the more pronounced is the introduction of the Takeover system which provides stat boosts once a meter is filled through streaks of offensive and defensive gems. And regardless of the player’s station or skill level, the fluidity of movement, seamless transition between animations and controlled situations, and near-perfect presentation of variables — from the pre-game and post-game shows to the live-ball commentary to the interviews — help keep gamers involved and engaged.
All told, NBA 2K19 is an easy recommend. Forget EA Sports’ apparent determination to revive the NBA Live franchise. For pro hoops (or, to be honest, any kind of hoops), no title is better. And while it also shines on the Switch and Xbox One X, it’s best appreciated on the PS4 platform, where the sheer number of gamers makes for a robust “My Neighborhood” experience. (As an aside, Sony has kept with tradition and rolled out a console bundle that includes a physical copy of the game and extends the warranty to two years). The superb execution and unparalleled gameplay make it the undisputed king of basketball simulations. Enough said.

Video Game Review

NBA 2K19
PlayStation 4/Xbox One/Nintendo Switch
THE GOOD:

• Outstanding gameplay, hewing as close to real life as possible

• Excellent audio-visual presentation

• Seamless transitions between in-game animations and controlled actions

• Open-world offerings in “My Neighborhood,” particularly on the PS4

THE BAD:

• Microtransactions abound in MyCareer Mode

• Occasional graphical glitches can stunt the immersive experience

• Preset cutscenes for “The Way Back” don’t always reflect the character’s progression, or lack thereof

• Fewer online peers for Switch gamers

RATING: 9.5/10

I was on the world’s longest flight. It was brutal, but better

October 19, 2018 | 12:01 am

By Sarah Wells
Bloomberg
GETTING from Singapore to New York in one hop is better than a layover — even if it involves taking the world’s longest flight.
That’s my jet-lagged verdict after disembarking from Singapore Airlines Ltd.’s Flight 22, the return of the carrier’s Changi-to-Newark, New Jersey, journey after a five-year hiatus.
The final quarter of the 10,400-mile trek was tedious, I must say. By hour 14, somewhere over Canada, the fancy new plane (Airbus SE’s A350-900 Ultra Long Range) was starting to feel like a luxurious prison. My skin was parched, and I couldn’t help trying to think of other scenarios in which that many people in a confined space would collectively go so long without a shower. Even the thought of another mimosa couldn’t get me enthusiastic about still being airborne.
But traveling to the world’s opposite time zone is never going to be entirely painless. Doing it in business class, and there are no economy seats on this almost 18-hour flight, reduces a lot of the trauma. And in comparison with the other options to get from Singapore to the Big Apple — flying via hubs in North Asia, Europe, or the US West Coast — this route is definitely preferable. I will choose it for New York work trips from now on.
Here’s what a coddled business traveler needs to know.
PLANNING
• Starting next week, flights will depart daily from Singapore late in the evening local time, and leave Newark for the return journey midmorning. This means you need to stay another night in the New York area compared with Singapore Air’s flight with the Frankfurt layover, which departs John F. Kennedy International Airport in the evening.
• SQ22 cuts about five hours off the trip compared with the route through Germany, which includes a layover of about two hours. More importantly, not having to get off the plane gives you more flexibility on when you sleep, eat and work. I stayed up for the first meal and fell asleep around 2:30 a.m. Singapore time or 2:30 p.m. in New York, slightly closer to the time zone where I was going.
• Booking a standard-fare Singapore-Newark round trip ticket in business class, leaving on Dec. 1 and returning a week later, costs about S$11,000 (roughly $8,000). Premium economy costs about S$3,000.
THE CABIN
• Regular Singapore Airlines business-class fliers will recognize the 67 comfortable and stylish seats from the regular A350-900s, which ply routes including Singapore-Melbourne and Singapore-San Francisco. They’re spacious, though not excessively so, with a width of 28 inches. The pitch — the distance between a point on a seat and the same point on the seat in front of it — is 60 inches, and the seat flips forward to convert into a 78-inch bed. You can keep a small bag near your feet and there’s a storage bin in the right hand console, as well as another next to the in-flight entertainment screen.
• I was in seat 12D. I would recommend booking as far forward in the first business class cabin as possible — being near the front galley is a minor issue as most of the food and drink service is conducted from the middle one. The middle front-row seats (11D and 11F) have more leg space, and those are my top picks if you can live without a window seat. Row 19 at the front of the second cabin has the same benefit, though that is also where the bassinets are located, so proceed at your own peril.
• When it’s time to sleep, the addition of a mattress topper makes the bed noticeably more comfortable than the same seat on other routes. The foot cubby remains quite small though, and sleeping on a diagonal angle feels a little weird. That said, I managed six and a half hours of almost continuous rest (only disrupted by turbulence), and felt good when I woke up.
Singapore Airlines 2
• The cabin ambiance was pleasant, with subtle lighting and relatively low noise levels. Not having overhead bins above the middle seats in business class gives an airy feel. The carrier says the air quality is better due to “a more optimized cabin altitude and humidity levels.” But I’m not sure. While my eyes didn’t feel as gritty as they usually do after long-haul flights, my skin still suffered.
• Gripes: There’s no skybar/lounge, and the space around the galleys is too tight to stand and stretch without getting in the way. Bathrooms are small and quite spartan. There’s only four for the business-class cabins, and three for the 94 seats in premium economy. So when everyone wants to change into and out of their (self-supplied!) sleepwear, be prepared to wait.
FOOD
• Supper, served about an hour and a half after takeoff, was a main with fruit as a dessert. I had the lobster thermidor from the Book the Cook menu for its nostalgia and novelty value. (It’s pretty tasty, even though it fails on every diet front). This needs to be ordered 24 hours before the flight. The on-board options included pan-seared snapper fillet and steamed lobster dumplings in superior soup.
• The showstopper main meal was served about 11 hours into the flight, though you can change the timing if you prefer. This was the full Singapore Airlines performance: satay, appetizer, main, dessert, cheese, chocolates, served with Charles Heidsieck champagne and a wide range of wines and cocktails. Everything I ate was delicious and beautifully presented.
• If that sounds too gluttonous there’s a “wellness” option designed by Canyon Ranch, thankfully the only page of the menu where the calories are printed next to the food. (Prawn ceviche appetizer, 207; braised pork, 368; and French apple frangipane tart, 152).
• You can also order from a “refreshment” menu throughout the flight, with choices from noodles to Greek yogurt and granola parfait.
• Singapore Airlines is known for the professionalism of its cabin crew and they didn’t disappoint: They were thoughtful, warm and efficient. While the flights from now on will no doubt feature fewer crew members who are recognizable from the safety video and other airline branding, in dozens of experiences with the carrier, I have yet to have one where I would rate the service as poor.
KEEPING BUSY
• There are Wi-Fi and in-flight roaming options to get online, including “all you can eat” roaming data packages available to people on a phone plan with two big Singapore telecommunications providers. If you’re planning to work on board, it’s important to note that on the North Pacific route (which we took on the first flight) there’s a Wi-Fi blackout of about two hours 15 minutes, starting around the 11^th hour. I also had issues connecting outside those times, as did other passengers nearby, though I can’t say if that was due to the number of data-hungry journalists on board.
• For entertainment there’s the airline’s extensive selection of movies, TV shows, and music, with an extra 200 hours of content for this flight. I wasn’t jazzed about this month’s movie selections (where was Crazy Rich Asians?), but with 130 titles in the “Hollywood and More” section alone, it seems ridiculous to complain.
• Singapore Airlines doesn’t usually give amenity kits, but for the first three months on this route, passengers get their selection of lip balm, hand cream, fabric spray and stain remover, which are offered after takeoff. Eye masks, socks and slippers are also given to each passenger and the usual business-class amenities (facial mist, toothbrushes etc.) are in the bathrooms.

The dawning of DAY6

October 19, 2018 | 12:01 am

By Cecille Santillan-Visto
Concert review
DAY6 1^st World Tour “Youth” in Manila
Oct. 6; Kia Theater, Quezon City
IN AN ocean of Korean pop idols whose main selling point is pulsating dance moves, an honest-to-goodness rock band is very hard to come by. One can only name a few — CNBLUE, FTIsland, and newbies N Flying and Honeyst. All of them are under FNC Entertainment’s umbrella and of these, only CNBLUE has performed in the Philippines. CNBLUE is on hiatus with all four members undergoing mandatory military service.
When MyMusicTaste, a “fan-initiated concert making platform,” posted an online survey to check the interest for a local concert of Korean band DAY6, it was deluged with requests, and soon the show was set. Tickets sold out.
The five-member group — comprised of Jae (lead guitarist, rapper), Sungjin (leader and main vocalist), Young K (bassist), Wonpil (keyboardist), and Dowoon (drummer) — has built a solid following in the Philippines since its debut three years ago. Not initially familiar with their music, this writer took a serious dive into the group’s discography which led to an inevitable conclusion — DAY6 is a truly talented bunch of 20-something musicians with a respectable body of work.
And during their first Manila concert, held at the Kia Theater, DAY6 showed that with a little more experience, they can fight neck-and-neck with the more established Korean bands on the world stage.
DAY6 is the only band under JYP Entertainment, one of the biggest Korean talent agencies. As part of JYP’s unique marketing scheme last year, DAY6 had monthly “comebacks,” releasing two new songs (a title track and a side track) from January to November. The year-long promotion culminated with a launch of the group’s second full album, Moonrise, in December 2017. Since DAY6’s songs were chart-toppers, they were regulars in Korean music shows. They were constantly in the consciousness of K-music enthusiasts, resulting in the broadening of its global fan base.
DAY6 gave their Filipino My Days, the group’s fandom, a treat by singing all the title tracks in the Every DAY6 compilation.
They opened with “Smile,” followed by “First Time,” and the “Better Better,” from Moonrise. It was impressive that all members sing and, notably, they sound better live than in their recordings.
Their vocals were crisp and consistent even as they played their respective instruments.
The members took turns in saying the “energy here is amazing,” “you are great, Manila,” “we’ve never seen such an enthusiastic crowd.” DAY6 was visibly surprised at the reception that they received.
“Sorry it took us a long time to come,” said Young K, to which the audience replied “Gwaenchanha” (“It’s alright”).
There were other concert highlights. Jae, wanting to see their fans in the balcony and lodge sections up close, stunned them by going up the second floor during the performance of “Free,” the second to the last song. The crowd appreciated the unexpected fan service. Towards the end, the band thanked the fans and the sincerity of the message was evident.
DAY6 sang in Korean but the audience was singing along in most, if not all, songs. In at least two instances, the band accompanied the crowd as they sang to their heart’s content.
They sang 25 songs — ranging from hard rock to slow tunes and danceable numbers — during the nearly three hour show. VVIP ticket holders had a hi-touch session with the band after the show.
It was good for DAY6 to start small. Kia Theater was a perfect testing ground for the group, which is a newbie to the Philippine K-pop scene. After dipping their feet into what they initially thought was a just puddle of water, they are ready to make a splash by taking on bigger venues such as the Mall of Asia Arena or even the Araneta Coliseum upon their return.
Their time has come.

Your Weekend Guide (October 19, 2018)

October 19, 2018 | 12:01 am

Akapela Open

THE Cultural Center of the Philippines (CCP), in cooperation with the Music School of Ryan Cayabyab, presents the Akapela Open International finals night at the CCP Main Theater on Oct. 20, 7 p.m. Akapela Open International is a movement and competition for contemporary a cappella ensemble singing. The finalists are Astrafellas (Baguio), Calafellas (Pangasinan), ConChords (Quezon City), KNKTD (Manila), Mvibe (Quezon Province), PhiSix (Makati City), PSquare (Davao), Sayil (Bulacan), Syncofellas (Bulacan), and Vocalmyx (Cagayan de Oro). Tickets are P200 and are available the CCP Box Office at 832-3704, and log on to www.akapelaopen.com for details.

Healing workshop

FEELING stuck in love, feeling unloved, feeling not beautiful enough, or feeling undeserving of love? Learn how to keep the spark of love alive at The Love Path workshop on Oct. 20. 1 p.m., at Carewell Wellness Center, 6F S&L Bldg., Dela Rosa corner Esteban Sts., Legazpi Village, Makati. Tickets are priced at P4,500 per person. For information, call 0918-888-9198.

INKFest 2018

CHILDREN’S illustrators group Ang Ilustrador ng Kabataan (Ang INK) will hold this year’s INKFest 2018 on Oct. 20 at Fully Booked Bonifacio High Street, Bonifacio Global City, Taguig. The festival is a one-day event featuring talks, artist merchandise, a live art demo, the annual INK exhibit, portrait sessions, and portfolio reviews. For information, visit www.facebook.com/events/163929400980568/ or contact hello@ang-ink.org.

Grand Pet Gala

ROBINSONS Novaliches presents the Grand Pet Gala on Oct. 20. Pet services such as the anti-rabies vaccinations, pet checkup, and pet blessing will be available. Get chance to attend seminars and trainings, join the pet costume contest, and check out the event’s photo booth. Pre-registration is at the mall’s Info Booth located at Level 1, Expansion Bldg. Admission is free. For more information, visit www.robinsonsmalls.com.

Mossimo Kids Fashion Show

FESTIVAL Mall presents “Shop. Play. Party” the Mossimo Kids Exclusive Party and Fashion Show on Oct. 20, 3 p.m., at the Expansion Hall. The event follows the recent Mossimo Kids Casting Call where children aged three to 12-years-old were given the opportunity to take part in a special model shoot and become the next Mossimo Kids ambassadors. Get free invitations, guaranteed seats, and special treats at the Mossimo Kids fashion show for a minimum single-receipt purchase worth P1,500 of Mossimo Kids apparel.

Pinoy Playlist

THE BGC Arts Center and Sun Life Foundation present Pinoy Playlist from Oct. 18-20 at the Maybank Performing Arts Theater in BGC, Taguig City. A celebration of Filipino musical talent across all genres and decades, the show is co-curated by Ryan Cayabyab, Moy Ortiz and Noel Ferrer. For tickets and schedules, contact TicketWorld (www.ticketworld.com.ph, 891-9999).

Mamma Mia!

MAMMA MIA!, the popular jukebox musical featuring songs by ABBA, returns to Manila at the Theater at Solaire until Oct. 20. For tickets and schedules, contact TicketWorld (www.ticketworld.com.ph, 891-9999).

Rep’s Rapunzel

REPERTORY’s THEATER for Young Audiences and the City of Makati present Rapunzel: A Very Hairy Fairy Tale until Jan. 27 at Onstage Theater in Greenbelt 1, Makati. For tickets and schedules, contact TicketWorld (www.ticketworld.com.ph, 891-9999).

Sembreak workshops

THE G-FORCE Project 2018 Sembreak Dance Workshop will be held at the G-Force Dance Center, Expansion Wing of Festival Mall on Oct. 20 and 21 for Batch 2. The workshops from all participating G-Force branches will culminate in a dance concert on Oct. 31 in The Theatre at Solaire.

Farewell performance

BALLET MANILA’s resident guest principals and multi-awarded dance partners Katherine Barkman and Joseph Phillips will perform at the opening gala of Le Corsaire, 6 p.m., on Oct. 20, at the Aliw Theater, CCP Complex. This special show also serves as their farewell performance, as Barkman returns to the US to join The Washington Ballet and Phillips pursues his as an international guest artist. Le Corsaire, one of the most thrilling classic ballets, follows the story of Conrad and his band of pirates as they rescue harem girls from slave traders and the sleazy Sultan Pasha. Le Corsaire will also have a performance on Oct. 21 at 3 p.m. Details on the shows, including ticket prices and schedules are available at www.balletmanila.com.ph. Tickets are also available through all TicketWorld outlets (891-9999, www.ticketworld.com.ph).

Facebook ordered to help Filipino victims of data breach

October 19, 2018 | 12:01 am

THE National Privacy Commission (NPC) wants Facebook, Inc. to provide identity theft and phishing insurance for over 750,000 Philippines-based users affected by a data breach last September.
In an Oct. 17 order, the NPC said Facebook’s measures in addressing the effects of the data breach in its website were not sufficient to notify the affected Filipino users in the depth of its impact.
The NPC ordered Facebook to submit a more comprehensive Data Break Notification Report; and notify the affected users.
“(NPC orders Facebook to) provide identity theft and phishing insurance for affected Filipino data subjects, or in the alternative, establish a dedicated help desk/help center for Filipino data subjects on privacy related matters concerning Facebook, located in the Philippines and with a local number, within six months from receipt of this Order,” the commission said.
The NPC also told Facebook to roll out a program to increase awareness on identity theft and phishing among Filipino users.
On Sept. 28, Facebook first reported about 50 million accounts on the website have been affected by a security breach.
The NPC said Facebook informed the commission last Oct. 13 that a total of 755,973 Philippine-based Facebook user accounts may have been compromised.
Information such as e-mail address, phone number, hometown, places recently visited and recent search queries were among those that may have been compromised.
“From the tenor of the document, we now understand that the breach exposed the personal information of persons with accounts… to different degrees. Be that as it may, Facebook contends… there is no material risk of more extensive harm occurring. This Commission does not agree,” the NPC said.
It said Facebook argued the effects of the data breach are only expected to influence a user’s likelihood of getting targeted for professional “spam” operations. But the NPC said Filipinos are not as aware of spam, phishing and identity theft as Facebook users in other developed nations.
Facebook is expected to comply with the demands of NPC in accordance with NPC Circular No. 16-03, which said the full report on the breach should be provided within five days. It also said affected users should be notified within 72 hours. — Denise A. Valdez

What to see this week

October 19, 2018 | 12:01 am

3 films to see on the week of October 19-October 26, 2018
Air Strike

Air Strike

SET during World War II, Chinese aviators are trained by a US Army colonel to fight against the Japanese. Meanwhile a hotheaded pilot begs to fly a powerful bomber, and a team of refugees and spies must bring a decoder device through the war-torn countryside. Directed by Xiao Feng, the stars Bruce Willis, Ye Liu, Seung-heon Song, William Chan, Wei Fan, Adrien Brody, and Gang Wu.
MTRCB Rating: R-13
I Still See You

I Still See You

TEN years after an apocalypse leaves a world haunted by ghosts, Ronin receives a mysterious message. She is joined by her classmate as she enters a world that blurs the boundary between the dead and living. Directed by Scott Speer, the film stars Bella Thorne, Richard Harmon, Amy Price-Francis, and Hugh Dillon. The Hollywood Reporter’s Frank Scheck writes, “The ensuing plot machinations involving a murdered young girl, a crazy scientist (is there any other kind?) and a government conspiracy are too convoluted and tiresome to fully relate. Suffice it to say that when one of the major characters is revealed to be a villain, the only thing surprising is that it was apparently intended to be a surprise.” Rotten Tomatoes gives it a measly 13% rating.
MTRCB Rating: R-13
First Love

First Love

RESERVED businessman Nick meets an optimistic photographer Ali who is living with congenital heart disease. Ali challenges Nick’s life decisions and slowly they find themselves fall in love with each other. Directed by Paul Soriano, the film stars Aga Mulach and Bea Alonzo.
MTRCB Rating: G

Management protocols for employee resignations

October 19, 2018 | 12:01 am

I was surprised and a bit disappointed when informed of the resignation of my hardworking assistant who has been my executive support for the past 10 years, who joined the company immediately after his college graduation. I thought he was satisfied with the company and our work relationship even though he was not given a chance to advance his career advancement due to certain company policies. It appears he was given a lucrative job offer that we find hard to match in our industry. I’m ready to lose him, but what can I do to make everything smooth for the transition? – Flabbergasted.
A man called the church secretariat and asked if he could speak to the Head Hog at the Trench. The secretary asked: “Who?” The man replied: “I want to speak to the Head Hog at the Trench!” Certain that she had heard it correctly, the secretary said: “Sir, if you mean our Parish Priest, you will have to treat him with more respect and ask for the “Reverend.” But you cannot refer to him as the Head Hog of the Trench!”
At this time, the man responded: “I’m sorry about that because I’m excited to meet him once again after a long time. We were friends in high school. That was a term of endearment given to him by our common friends. Anyway, I have P1 million here that I’d like to donate to the church.” The secretary exclaimed: “Please hold the line. I think the big, fat pig just walked into the office.”
Many times, we forget about respect for people because we believe that material things can make everything possible. While material comfort is a valid concern, success or failure depends to a large extent on relationships.
Sadly, 10 years is a long time for your assistant not to be given any opportunity to advance his career. But I will not dwell on this. Instead, let’s focus on your question which is how to make everything smooth for his transition. But first things first. There’s one major rule that you can’t ignore:
Avoid burning the bridge because you’ll never know when you’ll meet again.
There’s no reason for you to make the terminal days of a resigning employee difficult. You don’t have to have the best boss-subordinate relationship, but you don’t have to be rude. People move around from job to job all the time. For this reason alone, there’s always that chance of meeting your former employee, either face-to-face, if not through social media.
When that time comes, I’m sure that your former executive assistant will know how to reciprocate. Now, here are some suggestions to manage the expectations of your resigned employee:
One, accept the resignation in accordance with company policies. But not until his last day in office. Sometimes, it’s better not to sign any acknowledgment at all. This gives enough time for the resignation to simmer for both of you during the terminal 30-day period. Allow the person to think it over and accept him back if he changes his mind. Otherwise, if you accept the resignation right away, it may leave the impression that you really don’t like him.
Two, congratulate the resigning employee for his new job elsewhere. But not to the extent of giving a left-handed compliment as it’s easy for the receiving person to tell if the congratulations are sincere or not. Demonstrate good faith and without any hard feelings. Being the boss, it’s your responsibility to remain on good terms with all resigning employees, whether they’re good or bad.
Three, acknowledge all the things that he has done for the company. But do not make it appear that recognition was delayed. Don’t make up for any lapses, even if acknowledgements are overdue. It’s too late for that, anyway. A farewell lunch or dinner on the last day of the employee and with other key workers in attendance might go a long way toward easing the pain of the transition and keep the channels of communication open.
Four, ask for assistance for a smooth turnover of his job. Appoint a replacement and require this replacement to be mentored by the resigning worker during the 30-day period as required by company policy. Anticipate any temporary difficulties that may take place during the training as the resigned worker may have his mind focused on his new job. Just the same, agree with the resigned employee that he may be contacted from time to time on extreme cases.
Last, fast-track the release of his clearance and terminal pay. This is one of the most common irritants between a resigning employee and his former employer. If at all possible, ensure that everything is facilitated within a reasonable time line. Also, if requested by the resigning employee, you may issue a favorable recommendation by giving a specific letter that does not sound like it was taken from a template.
With all of this in mind, the challenge is what to do in case your resigned worker comes back to you to reclaim his post. What would you do? There are certain things that you may want to explore, even if the company has a rehiring policy: What would loyal employees think? And what hot skill or talent does the boomerang employee bring back that is not available in your organization?
ELBONOMICS: A resignation letter must contain a hint of “see you soon.”

Send your workplace questions to elbonomics@gmail.com or via https://reyelbo.consulting
Guaranteed anonymity is given for those who seek it.

Ethics: Black, White (or Gray)?

October 19, 2018 | 12:01 am

IN celebration of the Golden Jubilee Year of Financial Executives Institute of the Philippines, FINEX launched an ethics book entitled Ethics: Black White (or Gray)? which gathered essays and actual cases from 50 well-known personalities from the government, banking and private sectors.
Last May, Zondie Garcia, FINEX Ethics Committee Chair, asked me to sub-chair the committee of the Ethics book. I immediately accepted because I believe in the project, more so that conflict of interest as a topic was hugging the headlines at that time. Ethics, instead of being simply black (wrong) or white (right) was getting blurry or even gray. And so, an ethics book is relevant and timely.
The book has articles from the Bangko Sentral ng Pilipinas (BSP) — no less than BSP Governor Nestor Espenilla, Jr. (“Continuity Plus Plus: BSP’s Strategic and Ethical Bedrock”), Monetary Board Member Jun de Zuniga (“Rising Above Conflict of Interest”) and Deputy Governors Chuchi Fonacier (“Managing Conflict of Interest: Walking on a Thin Line”) and Diwa Guinigundo (“The Ethics of Being Ethical”); former Securities and Exchange Commission Chairs Tess Herbosa and Fe Barin; from the Institute of Corporate Directors, Dr. Jesus Estanislao who also wrote the preface, and Francis Estrada; from banks: Bankers Association of the Philippines President Nestor Tan, former BSP governor and Philtrust Head Jimmy Laya, ING Head Hans Sicat, Ding Pascual, RPT committee chair of PNB; FINEX members led by 2008 CFO of the year Baby Nuesa (“When Ethics Collide with Culture, We Must Rediscover Shame”); and SharePHIL Chair Evelyn Singson (“The Protection of Minority Shareholders’ Rights”).
Writers from the academe include Miriam President Charito Lapus, UA&P Professor Bernie Villegas and former UP president Fred Pascual; from the insurance industry, Allianz PNB Life President Olaf Kliesow and Sunlife’s Riza Mantaring (“When Doing Right by the Client Hurts”); from former government officials, Communications Secretary Sonny Coloma (“Is There a Right Time to be Ethical?”), Agriculture Secretary William Dar (Ethics and Agriculture — the Right to Food), former Finance Secretary and now Philippine Stock Exchange Chair Jose Pardo (“A Heart for Doing What is Right”).
As most articles were pretty serious, we also have an article from Laurie Jimenez (“When No One is Looking”), GMA 7 director, about when she was still in school and didn’t go with the flow of cheating. From the Filipina circle of CEOs, we have Carol Dominguez, social entrepreneurs Chit Juan (“Can You Do Business with the Poor and Get Rich?”) and Chiqui Escareal Go and accounting head Sharon Dayoan.
A section on the digital space titled Ethical Views on Technology was coordinated by Reynaldo C. Lugtu with articles from PLDT’s FINTQ Lito Villanueva (“Ethical Imperatives in Transformation”), Amihan’s Winston Damarillo, and Urban Chair Tito Ortiz, now a reinvented blockchain advocate. These are just some of the writers and more.
The Ethics book was launched at the BSP (thank you to our dear Governor Nesting!) with DG Chuchi Fonacier as guest speaker. Attendees were mainly the writers/contributors of the book.
Ethics: Black White (or Gray)? hopes that through the stories, examples, and experiences of the writers, it will be a good guide to all of us to decide on what is black or white, what is right or wrong, and not fall in the gray area.
The book, to be distributed to FINEX members and school partners, is dedicated “to everyone who wants to be ethical and do the right things right.”
Of the Ethics book, Dr. Jess Estanislao writes, “the battle for the observance of proper ethical standards is a continuing task of a lifetime. This volume is an invitation to bring integrity and ethics into our daily decisions and actions.”
Bro. Armin Luistro says: “During these turbulent times when our moral compass seems to be misled, the FINEX book on ethics is a must-read.”

Flor G. Tarriela is the Chairman of Philippine National Bank. She is former Undersecretary of Finance and the First Filipina Vice President of Citibank N.A. She is Go Negosyo 2018 Woman Intrapreneur Awardee. She is a FINEX Foundation Trustee and an Institute of Corporate Directors (ICD) Fellow.

Where is Dubai crude headed?

October 19, 2018 | 12:00 am

How PSEi member stocks performed — October 18, 2018

October 19, 2018 | 12:00 am

Here’s a quick glance at how PSEi stocks fared on Thursday, October 18, 2018.

Philippine Stock Exchange’s most active stocks by value turnover — October 18, 2018

NFA import deals face rebid as sellers hold out

October 18, 2018 | 10:43 pm

THE National Food Authority (NFA) awarded only three rice import contracts on Thursday accounting for 47,000 metric tons (MT), a small fraction of the 250,000 MT it was authorized to order, as most of the 14 bidders made offers far above the agency’s reference price.
Thai Capital Crops Co. Ltd. was awarded 18,000 MT at $426.30 per MT to be landed in Batangas. Vietnam Southern Food Corp. (Vinafood II) won the bid for 15,000 MT at $427.68 MT per MT, to be landed in Tabaco, Albay; and Vietnam Northern Food Corp. (Vinafood I) obtained an order for 14,000 MT at $427.50 per MT to be landed in Iloilo and Bacolod.
NFA’s reference price was $428.18 per MT, while most offers were at $458 to $478.48.
According to NFA Deputy Administrator Judy Carol L. Dansal, the agency will rebid the remaining contracts, subject to discussions by the governing NFA Council.
“We have to report to the Council to address this. We need rice and we need to act immediately. We will have to rebid for the remaining volume,” Ms. Dansal told reporters.
The government has authorized the import of 750,000 MT of rice this year in three batches of 250,000 MT to help bring down rice prices and after typhoon Ompong (international name: Mangkhut) damaged rice-producing areas in Regions I to IV-A and the Cordillera Administrative region.
“It is not a failed bidding. It’s just that not all the volume was taken,” Ms. Dansal said.
The NFA was allocated a total of P6.1 billion to procure 250,000 metric tons of rice earlier this year but in April it rejected bids from Vietnam for 50,000 metric tons of the 15%-broken variety $540/MT, and Thailand for 120,000 MT of 25% brokens at $530/MT.
The NFA reference price was $483.63 for 15% brokens, and $474.18 for 25% brokens.
The rejection of bids depleted the NFA rice inventory, emboldening sellers of more expensive commercial rice. Subsidized NFA rice is typically sold to poorer consumers in order to keep their expenditure on food under control.
Meanwhile, Agriculture Secretary Emmanuel F. Piñol announced that the suggested retail price (SRP) scheme for rice will be implemented by Oct. 23.
Mr. Piñol said 15% brokens will be capped at P40; 25% brokens at P37; domestic regular-milled rice P39; domestic well-milled at P44. The price for so-called premium rice is still under discussion while special rice will have no SRP.
“We really have to rationalize the whole thing and it is really for the protection of the consumers,” Mr. Piñol said.
“There will be no more use of Sinandomeng, no more Dinorado, no more Super Angelica,” according to Mr. Piñol, referring to some names of rice varieties on sale.
An SRP on chicken and pork is also expected to be imposed, but remains under discussion.
“The standard will be farmgate price plus P70 for pork regular cut,” according to Chester Warren Y. Tan, chairman and president of the National Federation of Hog Farmers Inc (NFHFI), noting that the SRP for choice cuts will be determined on Friday.
“The implementation will follow after we agreed to one common SRP to regular cut and choice cut. DA and private sector will also have a meeting with DTI (Department of Trade and Industry) for finalization,” Mr. Tan added.
United Broiler Raisers Association (UBRA) President Elias Jose M. Inciong said: “Our position is farmgate plus P50. It may be implemented next week.”
Chicken farmgate prices currently range from P77 to P84. — Reicelene Joy N. Ignacio

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