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‘Trump 2.0’ may hurt Philippine economy, according to Nomura

RAWPIXEL.COM

THE PROTECTIONIST POLICIES of a potential Donald J. Trump presidency could hurt the Philippine economy through lower dollar remittances and revenues in the service sector, according to Nomura Global Markets Research.

“We remain of the view that, similar to Trump’s first term, the Philippines will be among the most vulnerable through various channels,” it said in a report.

Nomura said a Mr. Trump victory could dampen Philippines economic growth. “Overall, we estimate through these channels GDP growth could be lower by 0.2 percentage point (ppt) than our baseline, though this is still manageable as we forecast GDP growth of 6.1% year on year for 2025,” it added.

The Philippine economy grew by 6.3% in the second quarter. The government is targeting 6-7% growth this year.

“The direct exposure comes from the country’s goods trade surplus with the US, which has risen in the last few years, and exports are likely to be hurt by the 10% tariffs proposed by Trump,” Nomura said.

Mr. Trump, the Republican nominee, has been loud about his intention to go big with trade restrictions, vowing to impose tariffs of 60% or higher on all Chinese goods. He has also floated the idea of a 10% universal tariff, according to Reuters.

The US remained the top destination for Philippine-made goods in June, with exports valued at $897.8 million or 16.1% of the country’s total, according to data from the local statistics agency.

The Philippines’ business process outsourcing (BPO) sector could also be hurt by Mr. Trump’s policies, Nomura said.

“In addition, the services surplus is now slightly larger than the goods surplus at 1% of GDP (gross domestic product), partly reflecting the fact that most of the country’s BPO sector caters to US companies,” it said.

“While Trump has not been explicit about ‘bringing back jobs to America,’ the risk is similar policies might affect BPO revenues, which was clearly the case in his first term — services exports growth to the US [was] halved to 5.1% year on year in 2017-2019 versus the prior years.”

The information technology and business process management industry booked a $35.5-billion revenue last year. This year, the sector’s revenue is projected to hit $40 billion.

Remittances, which are a key contributor to the Philippines’ foreign exchange coffers, could also be hit by a Trump win.

“By the same token, remittance growth also slowed during Trump 1.0, suggesting that a tightening in US immigration policy might affect workers’ remittances from the US which are even more sizeable (3.1% of GDP),” Nomura said. 

Cash remittances jumped by 2.9% year on year to $16.25 billion in the first half, data from the Bangko Sentral ng Pilipinas (BSP) showed. The US accounted for 40.9% of the total.

“Among the less export-oriented economies, the Philippines does not have a similar cushion and instead will be at risk from various channels, including the impact on workers’ remittances from a possible tightening of US immigration policy as well as the outsourcing sector,” Nomura said.

It also cited potential geopolitical tensions between China and the Philippines due to the “lack of security support from the US under Trump.”

“An indirect channel is the impact of a possible rise in geopolitical tensions in the South China Sea if the US, which is the country’s strongest ally, provides less regional security and reduces its military presence under Trump.”

On the other hand, Nomura said the Philippine central bank’s easing cycle is unlikely to be affected.

“Meanwhile, a pause in the Fed’s cutting cycle to assess the impact of Trump’s tariffs on US inflation is unlikely to derail BSP’s cutting cycle, which is already underway and should be completed by the first half of 2025 based on our forecasts, unless the tariffs are implemented much earlier,” it added. — Luisa Maria Jacinta C. Jocson

Meralco boosts stake in SPNEC to 50.5%

PHILIPPINE STAR/JESSE BUSTOS

PANGILINAN-LED Manila Electric Co. (Meralco) is increasing its stake in listed renewable energy company SP New Energy Corp. (SPNEC) to 50.5%.

Meralco PowerGen Corp. (MGen), a fully owned subsidiary of Meralco, is acquiring an additional 5.8 billion shares or 11.6% of SPNEC valued at P7.5 billion from Solar Philippines Power Project Holdings, Inc. led by businessman Leandro Antonio L. Leviste.

With this transaction, MGen and its affiliates have invested a total of P27.9 billion in SPNEC, representing 25.3 billion shares, according to a statement from Solar Philippines on its Facebook page on Wednesday.

On Sept. 3, MGen Renewable Energy, Inc., a wholly owned subsidiary of MGen, paid P6.7 billion to Solar Philippines. An additional P0.8 billion will be paid upon the completion of another investor’s planned entry into Terra Solar Philippines, Inc., Solar Philippines added.

Following the transaction, Solar Philippines will hold a 29.4% stake or 14.7 billion shares in SPNEC.

SPNEC, through its subsidiary Terra Solar Philippines, Inc., is developing a P200-billion solar power project, which is expected to be the largest solar farm in the world. The project, located in Nueva Ecija and Bulacan, includes a 3,500-megawatt solar power plant and a 4,000-megawatt-hour energy storage system. The first phase is set for completion by 2026, with the second phase expected by 2027.

On Wednesday, SPNEC shares rose by 1.57% or two centavos, closing at P1.29 per share, while Meralco shares fell by 1.32% or P5.40, ending at P402.80 each.

Meralco’s majority owner, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Revin Mikhael D. Ochave

Come for the (draft) beer, stay for the sisig

WITH A positive deluge of craft beer and all sorts of new spirits in the market, isn’t it nice to come back to a classic?

Chef Junjun de Ocampo, whose last posting was corporate chef for a restaurant group, opened Blackwood at McKinley Hill in 2010, but moved to Mandaluyong’s Greenfield a couple of years later due to changing market demand. In moving, he and his partners decided to shift their focus to draft beer (beer from a keg; out of a tap). One of his partners (who already worked for a beer company) tried to discourage him due to the short shelf life of draft beer (three days tops, according to Mr. De Ocampo), but, “If you can do it right, masarap ang draft beer (draft beer is delicious). It’s not stored in a bottle, in a warehouse, for months. This is fresh… as fresh as it can get,” he told BusinessWorld at a tasting on Aug. 28.

During the tasting, we were served San Miguel Pale Pilsen, San Mig Light, Cerveza Negra, and San Miguel Blanca (San Miguel’s latest release). The familiarity of the names belies the ambition behind serving them on tap, but Mr. De Ocampo finishes his stash well before the third day. Our expectations were lowered, again, by the familiarity of the names on tap, but dare we say the usually mealy (for us) San Mig Light gained some soft floral femininity, the Cerveza Negra’s chocolate notes were heightened, and personal favorite Pale Pilsen gained toasty, crisp gravitas? The San Miguel Blanca (a wheat beer), meanwhile, was served in a glass especially made for them by San Miguel, “Because of how much attention we give to their draft beer,” Mr. De Ocampo said.

It seemed almost as if he was an endorser for the food conglomerate, but they just really like the place. “If you saw this [place] last Friday,” he said, saying that the who’s who of San Miguel Corp. (SMC) packed the restaurant.

“I was convinced by the chairman (who was his former employer) that it’s time for (me) to venture on (my) own,” Mr. De Ocampo said about opening his restaurant.

“We love to eat; of course, we like to drink. Beer is our go-to beverage,” he said. “Why don’t we highlight what we love?”

DRINKING FOOD
The menu, he said, is composed of “what we like to eat when we’re drinking.” That includes the Streetcart Special, with all sorts of things on skewers.

Our boredom with what we thought was familiar made us, again, lower our expectations, but boy oh boy, you haven’t had nice homemade pork longanisa (local sausage) on a stick, and what we thought were pedestrian squid balls were chewy, very tasty cuttlefish balls. They offered us chicharon (pork crackling) too, but we didn’t think much of the offer until it came to the table, still crackling (pun intended) on the plate. The Freshly Popped Chicharon is made to order, and like their beer, is as fresh as it can get.

“It wasn’t very difficult to come up with the menu for Blackwood. Most of it I would actually credit to our guests,” said Mr. De Ocampo.

And then there was the Goat Sisig. We’ve never had goat like this before: the goat’s face is cooked until it’s tender, then chopped up and grilled just like pork sisig. It has the familiar sticky collagen-covered texture of sisig we all love, but it has a complexity from lean bits of gamey goat meat. If just for this dish, we’d vouch for this place, and tell everybody to come.

The dish (and all of their other goat entrees; refried adobo, caldereta, and the like) was inspired by a customer. “We had a guest here, who came from the province. He’s a farmer visiting a relative,” said Mr. De Ocampo. The country lad asked for some goat, but was told they didn’t serve it there.

Mr. De Ocampo learned his lesson. “Ang bar, dapat may kambing. Ang manginginom, hindi tatanggi sa kambing (a bar should always serve goat meat. A drinker will never refuse goat meat),” he said. The next day, he was at the market buying goat meat. “And guess what? Ang lakas ng kambing (the goat is selling very well).”

LESSONS
Blackwood has a sister restaurant, Vintage, right next door. Blackwood itself has lasted more than 10 years, in a tight, restaurant-packed city where they can close as quickly as six months. Not to mention the COVID-19 lockdowns of 2020, which culled many restaurants in the metro: “We were three seconds away from throwing in the towel,” he recalled. “The only thing that kept us going — I don’t want to sound melodramatic here — but it’s the people. They’ve been with us 10 years already. They’re family to us.”

For him, the solution for longevity in the restaurant business comes down to presence. “Being here. Being physically present, being in touch with the business. We’ve always been hands-on. If there are things we need to change, we change immediately.”

We haven’t talked about the name. The name “Blackwood” comes from the Australian Blackwood tree, a species of Acacia. The name sounded cool, but Mr. De Ocampo found out that the tree symbolizes hard work, perseverance, and new hope.

“It’s not just the life we choose, it’s the life we love,” he said, and as he said it, the opening strains of Madonna’s “Like a Prayer” rose from the speakers. “It’s not for everyone, really. But ang sarap eh.”

Blackwood Bar and Grill is located at The Portal, Greenfield District, Mayflower St., Mandaluyong. — Joseph L. Garcia

Power distributor sees lower generation costs for September 

POWER DISTRIBUTOR Manila Electric Co. (Meralco) expects a reduction in generation charges for September, attributed to the strengthening of the peso and a decrease in demand.

“While we have yet to receive all the final billings from our suppliers, we expect a possible decrease in the generation charge this month,” Meralco Vice-President and Head of Corporate Communications Joe R. Zaldarriaga said in a Viber message on Wednesday.

He said that the anticipated decline in generation charges is due to the appreciation of the peso, which has reduced costs for suppliers that primarily deal in US dollars. 

In August, the peso strengthened by P2.254, ending at P56.111 per dollar on Aug. 30, compared to P58.365 per dollar on July 31.

Additionally, Mr. Zaldarriaga noted a reduction in demand during the previous supply month.

“We hope that these factors would be enough to bring down the overall electricity rate for this month,” he said.

Generation charge, which usually makes up a bulk of an electricity bill, went down by P0.0503 per kilowatt-hour (kWh) in August.

Overall, Meralco announced a slight increase of P0.0327 per kWh, resulting in a new rate of P11.6339 per kWh for a typical household. This is an increase from the previous month’s rate of P11.6012 per kWh.

Wholesale Electricity Spot Market (WESM), independent power producers, and power supply agreements, accounted for 27%, 33%, and 40% of the company’s total energy requirement for the period.

For August, WESM prices at system-wide fell with supply ample in the face of strong demand, based on the preliminary data from the Independent Electricity Market Operator of the Philippines.

Meralco’s majority owner, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera

Tres Papas goes sweet for first of three engagements

COCKTAILS inspired by traditional Filipino desserts such as macapuno, halo-halo, mais con yelo, sago’t gulaman, ube, and leche flan.

Don Papa’s plans under new management

SINCE Don Papa Rum’s launch in 2012, they’ve always had Tres Papas, collaborations with different bartenders (three; it’s in the name) served at some of the city’s coolest bars. For the Tres Papas event on Aug. 22 at The Curator in Makati (No. 33 on the Asia’s 50 Best Bars list of 2024, and thus, the best bar in the Philippines this year), they concentrated on the theme “Panghimagas” (dessert).

Don Papa Rum’s Philippine brand ambassador Audrey Gustilo, The Curator’s senior bartender Dan Santos, and Night Hawk Singapore’s Trisha “Taco” Leong took over the bar for a one-night-only shift. Night Hawk is currently ranked #16 in Asia’s 50 Best Bars, and Ms. Leong is the bar’s Operations Manager.

The three bartenders crafted cocktails that reimagined classic Filipino desserts, each bringing their unique spin to the table. Ms. Gustilo drew inspiration from the comforting flavors of rum and her beloved halo-halo (an ice-based dessert) topping, macapuno (coconut sport), along with yema (sweet custard confectionary), a childhood favorite. Mr. Santos, on the other hand, focused on refreshing dessert coolers that evoke memories of summer in the Philippines, such as the iconic mais con yelo (sweet corn with ice) and sago’t gulaman (sago pearls and jelly in brown sugar syrup) Ms. Leong, hailing from Singapore, was eager to highlight Filipino desserts known for their simplicity yet rich flavors, like ube and leche flan.

“Our Tres Papas event is truly an exceptional vehicle to pay homage to the Filipino Culture. For this particular series, it’s all about food focused on dessert favorites. We grew up enjoying them and handing these delectable treats down to our younger generation. It is about time we get to share these to the world as well by working with these extraordinary bartenders from truly world class bars. Don Papa is extremely proud to hold Tres Papas here, our mother market and soon to other parts of Asia-Pacific. I am thrilled to see how Filipinos are very supportive of our brand and how we engage them. Expect to see more from Don Papa as we continue to expand our presence here and across the region,” said JoAnn Ramos, Don Papa Rum Philippines president and Asia-Pacific marketing and commercial head in a statement.

ONGOING CHANGES
In an interview with BusinessWorld at the Don Papa offices (conveniently located behind The Curator), Ms. Ramos discussed ongoing changes at Don Papa owing to their acquisition by global spirits conglomerate Diageo (story here: https://tinyurl.com/4batusn3). “We’re taking it to greater heights: we’re expanding. In the next two to three months, we’re launching in Singapore… and distribution’s going to be a lot more expansive,” she said. In six months, they have plans to formally launch in Thailand and Vietnam, then moving on to Malaysia, Japan, South Korea, and Taiwan.

“Of course, at the end of the day, we’ll make the Philippines a lot better in terms of stability and portfolio. We’re definitely going to launch a lot more new products,” she said. “Because we’ve been partnered now, obviously, with Diageo, there’s definitely a lot more stability in terms of product availability and volume.

“We actually have other facilities now, thanks to them,” she added. “There’s a lot more in the next six months that’s coming out. I just can’t share [information about] it right now.”

The second and third Tres Papas events will be on Sept. 11 at OTO, to be done in collaboration with 28 HongKong Street, one of the most awarded bars in Asia, and on Oct. 2 at the Grasshopper in Makati City, together with Singapore’s Elephant Room, which debuted at the Asia’s 50 Best Bar list in 2023. — Joseph L. Garcia

First Gen seeks bidders for October LNG cargo delivery

LOPEZ-LED First Gen Corp. is seeking bidders for a new liquefied natural gas (LNG) supply cargo to be used in its gas-fired power plants in Batangas.

The energy company, through its wholly owned subsidiary First Gen Singapore Pte. Ltd., intends to procure 154,500 cubic meters of LNG cargo, according to a bid notice.

The selected bidder is set to be awarded on Sept. 16 and the delivery will commence from Oct. 14 to Oct. 18.

The LNG cargo will be delivered to the Subic Bay Freeport in Zambales, where it will be loaded into the BW Batangas, a floating storage and regasification unit, and then used for the power plants.

First Gen has a portfolio of four existing gas-fired power plants with a combined capacity of 2,017 megawatts located in the First Gen Clean Energy Complex in Batangas. These plants have been supplied for many years with gas from the Malampaya gas field, the country’s sole natural gas provider.

“FGen reserves the right at its sole discretion to cancel the invitation to bid or to reject any or all bids prior to the acceptance of a bid or proposal,” First Gen said.

In June, First Gen announced that it has awarded the contract to Japanese company TG Global Trading Co. for the delivery of its fifth LNG cargo containing approximately 125,000 cubic meters.

The LNG cargo, which was supposed to be delivered in July, has been deferred as the company said it still has residual gas.

FGEN LNG Corp., a subsidiary of First Gen, constructed an interim offshore LNG terminal and executed a five-year time charter party for BW Batangas to provide LNG storage and regasification services.

At the local bourse on Wednesday, shares in the company rose by 0.48% to close at P16.90 each. — Sheldeen Joy Talavera

Dining In/Out (09/05/24)

Mid-autumn treats at Marco Polo Ortigas

MARCO POLO Ortigas Manila presents a Mid-Autumn Festival celebration at Lung Hin, the hotel’s Cantonese restaurant. From Sept. 1 to 17, Lung Hin offers a set menu for groups of five and 10 for the occasion. Guests can look forward to the Signature Peking Duck, and Chicken Consommé featuring Morel Mushrooms, Fish Maw, and Bamboo Pith. Other highlights of the set menu include the Baked Abalone Puff, and Roasted Goose with Mushrooms. The menu also features Wok-Fried Sea Conch with Shrimp and XO Sauce, and Sautéed US Beef Cubes with Foie Gras. Seafood lovers will like the Steamed Grouper Fillet with Parma Ham and Shiitake Mushrooms, and the Steamed Crab with Glutinous Rice, Pork, Dried Squid, and Shrimp. The meal can end with a seasonal fresh fruit platter. Lung Hin is also offering a collection of traditional mooncakes in gift boxes. There are boxes of one, four, and six mooncakes, with limited editions for the boxes of four and six. Flavors include classics such as White Lotus with Egg Yolk, Red Lotus with Egg Yolk, Red Bean with Egg Yolk, and Mixed Nuts. For inquiries, call 7720-7777.

New World Makati offers mooncakes

NEW WORLD Makati Hotel invites everyone to celebrate the Mid-Autumn Festival with their special mooncakes which are elegantly presented in boxes inspired by traditional Chinese wooden window grilles. The hotel’s handmade mooncake collection features six flavors that include three new variants. The new flavors are Dark Chocolate, Matcha, and Durian, while classic flavors are Red Bean, Red Lotus, White Lotus. Miniature versions are also available for guests to try. An individual box is P488, a box of four is P2,388, and a box of six is P3,888. Miniature mooncakes are P168 each, and a box of six is P988. A 20% discount is offered for purchases of 100 boxes or more, and a 10% discount is given to Club Epicure members and orders of 50 boxes. For inquiries, call 8811-6888 ext. 3679 or 0917-888-4194, or e-mail fbreservations.manila@newworldhotels.com.

Gordon Ramsay: now in the Philippines

GORDON RAMSAY Bar & Grill Philippines at Newport World Resorts is now open to the public following an exclusive ribbon cutting ceremony on Aug. 31. Theures British classics, perfectly grilled steaks, fresh market seafood, and an array of sides and desserts. These include Gordon Ramsay Fish & Chips (a battered Pacific grouper served with crispy fried potato fries), Gordon’s Signature Beef Wellington (a slice of beef tenderloin wrapped in a layer of mushroom and truffle duxelles, encased within a buttery pastry, served with creamed potato and drizzled with red wine jus). The Crispy Crab Cake & Sturia Oscietra Caviar is a balance of crisp and creamy crab cake topped with a poached egg and Hollandaise. Alongside the menu, the restaurant also hosts a bar offering high-end wines from around the world, sought-after spirits, and hand-crafted cocktails. The 400-square meter space features Spanish tiles, hand-laid wood panels and bricks, as well as bespoke Philippine-made furniture. Located on the 2nd floor of the Newport Grand Wing, the restaurant is open daily from noon to 3 p.m. for lunch and 6 to 10 p.m. for dinner; its dress code is smart casual. For more information and table reservations, visit www.newportworldresorts.com/grbg and follow @newportworldresorts and @gordonramsaybarandgrillph on Facebook and Instagram; and @newportworldresorts and @gordonramsayph on TikTok.

Celebrate Grandparents’ Day with Mang Inasal

MANG INASAL is honoring all lolos and lolas with Grandparents’ Day treats this September. From Sept. 1 to 15, visit any Mang Inasal store nationwide for combos featuring grandparents’ favorite dishes: two Palabok Solos for P129, two Extra Creamy Halo-Halos or Crèma de Leche Small for P119, and one Palabok Solo and one Extra Creamy Halo-Halo or Crèma de Leche Small for P129; with savings between P17 and P29. Mang Inasal Grandparents’ Day Treats are available for dine-in and takeout in all Mang Inasal stores nationwide. Visit  www.manginasal.ph for the latest news and https://manginasaldelivery.com.ph for delivery deals.

Cebu Pacific to open two domestic routes next month 

BW FILE PHOTO

BUDGET CARRIER Cebu Pacific, operated by Cebu Air, Inc., aims operate two new domestic routes next month to further boost its Iloilo hubs.

In a statement on Wednesday, Cebu Pacific said it will begin operating flights between Iloilo and Tacloban four times a week — on Tuesday, Thursday, Saturday, and Sunday — starting Oct. 27.

The airline will also launch flights between Iloilo and Zamboanga three times a week — on Mondays, Wednesdays, and Fridays — beginning Oct. 28.

“The addition of our new domestic routes from Iloilo aligns with our mission of making air travel accessible to a wider range of passengers,” said Cebu Pacific President and Chief Commercial Officer Alexander G. Lao.

To date, Cebu Pacific operates in 35 domestic and 26 international destinations across Asia, Australia, and the Middle East.

“We look forward to flying more Juans across our growing interisland network and better enabling them to discover the beautiful islands of the Philippines,” Mr. Lao said.

For the year, the company has initially set a target of 24 million passengers, significantly higher than its 2023 passenger volume.

In 2023, Cebu Pacific flew over 20 million passengers and operated more than 140,000 flights, representing increases of about 41% and 30%, respectively, from the previous year.

In the second quarter alone, Cebu Pacific carried a total of six million passengers, its highest quarterly passenger count in its history, the airline said.

The company also reported a significant increase in its cargo business, transporting nearly 36 million kilograms of cargo from April to June.

For 2024, Cebu Pacific expects to receive 17 aircraft, with 10 already having arrived at Ninoy Aquino International Airport.

The company has agreed to purchase up to 152 Airbus aircraft, with finalization expected by the third quarter. These aircraft are scheduled to be delivered starting in 2028. — Ashley Erika O. Jose

Arts & Culture (09/05/24)

Lecture on Khmer ceramics at the National Museum

THE National Museum of the Philippines will be holding a lecture on Khmer ceramics, led by Dr. Yukitsugu Tabata of Waseda University in Japan. On Sept. 5, 1:30 p.m., at the Ayala Room, National Museum of Anthropology, Manila, Dr. Tabata will share his expertise in ceramics through a talk titled “Introduction to the Khmer Stoneware: The Oldest Stoneware Industry in Southeast Asia.” Admission is free but registration is required via https://bit.ly/NMP-Lecture-Khmer-Ceramics.

Intramuros to celebrate its first-ever fiesta

THE historic Walled City of Manila, Intramuros, is set to celebrate the first-ever Fiesta de Intramuros on Sept. 8. This honors the feast day of Nuestra Señora de la Consolación y Correa, whom the Manila City Council, through its Resolution No. 496, series of 2024, has declared as the official patroness of Intramuros and bestowed the title Queen and Protectress of the Distinguished and Ever Loyal City. San Agustin Church in Intramuros houses the original canonically crowned image of Nuestra Señora de la Consolación y Correa, who has been a silent witness to the Walled City’s rich history for almost 400 years and is the only Marian image continuously venerated within Intramuros. The Fiesta Hispano-Filipino cultural night on Sept. 6 will feature performances that highlight the fusion of Spanish and Filipino cultures, while the Dulce Septiembre (Sweet September) Bazaar will offer visitors a showcase of sweet treats from local food vendors along General Luna St. in Intramuros on all weekends of September.

Curator Daisy Nam to hold talk in Manila

DAISY NAM, California College of the Arts (CCA) Wattis Institute for Contemporary Art Director and Curator, will discuss the process of selecting, organizing, and presenting art in different places and spaces in a free public lecture on Sept. 10, 3 p.m. The talk will walk the participants through Nam’s strategies in developing exhibitions, commissions, and teaching programs, as well as fundraising and donor cultivation. It is free and open to the public and will be conducted at the 8th Floor Learning Commons of the DLS-CSB Design + Arts Campus, 950 Pablo Ocampo St., Malate, Manila. Interested participants may register through tinyurl.com/MCADDaisyNam.

Cellist Damodar Das Castillo set for send-off concert

THE MiraNila Heritage House & Library will be the venue of Strings of Gold: Send-off Concert of Cellist Damodar Das Castillo on Sept. 19, 6 p.m. Aside from the cello prodigy, the concert will also feature concert pianist Mariel Ilusorio playing on MiraNila’s newly restored Steinway 1904 grand piano, considered rare in the Steinway & Sons catalog. Mr. Castillo’s repertoire is a blend of classical music for cello by Bach and Chopin with popular classical pieces by Nicanor Abelardo, Henry Mancini, and Richard Rogers. It will conclude with a cello concerto by Dvořák, one of the numbers that allowed Mr. Castillo to make his mark on the international competition circuit. Tickets cost P1,500 and are available by messaging 0927-277-6335 (Robeen Manalo). Guests are requested to wear soft-soled shoes as these are kinder to old floors. MiraNila Heritage House & Library is located at 26 Mariposa St., Brgy. Bagong Lipunan, Crame, Quezon City.

Película>Pelikula Spanish Film Fest poster exhibit

INSTITUTO Cervantes de Manila is putting up What is a Filmfest Like You Doing in a City Like This?! Posters of Película>Pelikula Spanish Film Festival, an exhibition celebrating the visual history of the Manila Spanish Film Festival. Running from Sept. 5 to Oct. 31 at Instituto Cervantes Manila in Intramuros, this exhibit offers a glimpse into the creative evolution of the festival through its iconic posters. For its 23rd edition this year, the old posters and other graphic collaterals highlight the artistic expressions that have defined each edition, capturing the essence of Spanish and Latin American cinema over the years. The exhibition will also be showcased at Shangri-La Plaza Mall, the main venue of the film festival, which runs from Oct. 5 to 13.

Baylan of Mount Kalatungan exhibit at National Museum

THE National Museum of the Philippines (NMP) has launched an exhibition titled The Baylan of Mount Kalatungan at Gallery 1 of the National Museum of Anthropology. The photographic and illustrative exhibit tells the story of the sacred sites and deities of Mount Kalatungan in Bukidnon. It aims to shed light on the people and places that form the final vanguard of environmental protection — the Talaandig Manobo indigenous people who call the forests in the mountain their home. The Baylan of Mount Kalatungan opens on Oct. 11.

Sari-Sari at ARTablado

FOUR artists who are friends are holding an exhibit titled Sari-Sari at Robinsons Land ARTablado. Names after the quintessential Filipino convenience store, this exhibition brings together the unique styles and perspectives of four artists — Sarah Liuson-Ongsun, Joanne Cariaso-Gacayan, Cher Cabula-Mendoza, and Nina Tolentino-Hidalgo — each contributing their distinct voice to create a rich, eclectic mix of art, all done in watercolor. Sari-Sari is on view until Sept. 15 at Robinsons Land ARTablado, Level 3 of Robinsons Galleria, Ortigas Center.

National Artist Kidlat Tahimik at Mactan airport

THE Mactan-Cebu International Airport (MCIA) is now home to the works of National Artist Kidlat Tahimik (a.k.a. Eric Oteyza de Guia). His art installations were unveiled at the International Departures Area of Terminal 2. Crafted from wood and stone, the works depict stories of Magellan’s historic expedition to Cebu, including the legendary figure of Lapu-Lapu.

Mind Museum launches unlimited pass

THE Mind Museum has launched the Unlimited Science and Arts Pass (USAP), an offering that provides an immersive, year-long experience where science and art converge. With USAP’s Group Membership option, families and friends can enjoy all the benefits of USAP together at a discounted rate. Families can take advantage of birthday perks that include discounts on Birthday Party packages. USAP includes free access to Playtales for kids aged seven and below. USAP also offers special discounts on The Mind Museum’s Educational Programs. USAP members receive free admission to over 300 international science museums via the Association of Science Technology Centers (ASTC) Passport Program. USAP members can also take advantage of discounts on BGC Arts Center’s flagship programs. The USAP is exclusive to the registered individual and is non-transferable, and membership is valid for one year from the activation date. A valid USAP card and ID must be presented to avail of any benefits. An Individual Membership costs P3,000 per person (child/adult), while a Group Membership is P2,750 per person (child/adult) for a minimum of two members. The USAP can be purchased on-site or online at https://www.themindmuseum.org/buy-tickets.

Manny Baldemor art on UNICEF Christmas cards

UNICEF Philippines ushers in the start of the Christmas season with the joyful art of Pinoy folk artist Manuel “Manny” Baldemor who is this year’s featured artist for UNICEF Christmas Cards. An artist from Paete, Laguna, Baldemor is renowned for his paintings, wood prints, and wood carvings featuring simplified geometric forms and folk art characters.  He has been a part of the UNICEF Cards roster of artists since the 1990s. The 2024 limited-edition UNICEF Cards feature four artworks from Baldemor’s collection: Pasko sa Aming Bayan (1992), Christmas Lanterns Festival (2006), Graces from the Land (2008), and Pasko ng Pamilya Pilipino (2024). Get one box set of UNICEF Cards for every P1,000 donation to the organization and receive 12 individual cards featuring Baldemor’s four artworks. Go to https://donate.unicef.ph/ to get a set of UNICEF Christmas Cards.

REP, Bristol Old Vic Theatre School’s Bridge Project

REPERTORY Philippines (REP) has announced that it has forged a partnership with the Bristol Old Vic Theatre School for REP’s Bridge Project program that will bring UK conservatoire training to Manila in 2025. The Bristol Old Vic Theatre School is one of the most successful and well-respected drama schools in the UK, attracting students internationally and known in the industry as a benchmark of quality in professional acting, technical, production and stage management training. Some of its many notable alumni include Jeremy Irons, Patrick Stewart, Daniel Day-Lewis, and Olivia Colman. Alumnus director Victor Lirio helmed and designed REP’s Bridge Project as a collaborative congress for Filipino theater practitioners in the Philippines, UK, and US.

Bo’s Coffee eyes 50 new outlets by 2025

BO’S COFFEE FACEBOOK PAGE

HOMEGROWN coffee brand Bo’s Coffee expects to open 35 new outlets this year and 50 more next year, according to its founder.

“As far as the company is concerned, we (will be) able to grow by 35 stores by the end of this year; and next year, we are looking at 50 stores,” Bo’s Coffee Founder and Chief Executive Officer Steve D. Benitez said on the sidelines of the Franchise Asia Philippines 2024 International Conference on Monday.

Founded in the Philippines, Bo’s Coffee has expanded its operations to include a growing number of outlets both locally and internationally.

He said that the company’s growth is mainly driven by franchising, and its capital expenditure will be focused more on the commissary and support systems.

If realized, the additional stores will bring the brand’s total number of locations to 160 by the end of the year and over 200 by 2025. Thirty percent of these will be company-owned outlets.

The brand is also expanding operations in Doha and Dubai.

 “We will have 16 stores by the end of this year in Doha and four in Dubai. Two are operating in Dubai, and 14 stores are already open in Doha,” he said.

“We are talking to other partners, and Canada is on the table… But it is going to be a five-year plan, so it is like a rollout of 10 stores in 10 years or 12 stores in 10 years,” he added. — Justine Irish D. Tabile

62 years strong: Metrobank commits to remain a partner in growth

Metropolitan Bank and Trust Co. (Metrobank) continues to serve as a trusted financial partner to Filipinos and thousands of businesses in its 62nd year. As it celebrates its founding day this Sept. 5, Metrobank reaffirms its commitment of helping individuals and businesses grow by realizing their goals and reaching their full potential.

A vision for growth

Founded by Dr. George S.K. Ty on Sept. 5, 1962 to help businesses grow by establishing a bank that can provide funding and support, Metrobank became a trusted financial partner for individuals and enterprises of all sizes through the relevant financial products and services it offers its clients.

With the Bank’s products and services, thousands of clients have turned their dreams into reality — whether it’s a young entrepreneur starting a business, a family buying its first home, or a company expanding its operations and reach.

Metrobank’s wide range of services — across retail banking, corporate banking, investments and leasing, among many others — uphold its commitment of being its clients’ trusted financial partner.

Breaking records

Proof of its financial strength is its net income, which has grown from strength to strength. Metrobank posted a record first-half income of PHP23.6 billion this year, supported by robust asset expansion, stable margins and well-managed cost growth and healthy asset quality.

With total consolidated assets expanding to PHP3.3 trillion, Metrobank has maintained its position as the country’s second largest private universal bank.

At every customer touchpoint

Metrobank has also expanded its reach with over 950 domestic branches, more than 2,300 ATMs and above 30 foreign branches, subsidiaries and representative offices.

And with the drive to address changing consumer behavior and rising digital adoption, the Bank has rolled out more digital channels to cater to customer needs.

Recognized globally

Also demonstrating Metrobank’s strength and reliability as a partner for growth are the numerous awards it garnered for its excellent service. It was hailed as the Most Recommended Retail Bank in the Philippines by The Asian Banker during the publication’s recent Global Excellence in Retail Finance Awards.

It was also recognized as the Best Bank for Corporate Responsibility at the Euromoney Awards for Excellence 2024, Best Bank for Ultra-High-Net-Worth at the Euromoney Global Private Banking Awards 2024, and the Best Asset Manager for the Philippines at the Citywire Asia Asean Awards. The Bank’s Grow With Metrobank video campaign that was inspired by the many true stories of how it helped clients and communities thrive and achieve their aspirations received the Gold Stevies at the 21st Annual International Business Awards.

A catalyst for growth

Beyond providing banking services to its customers, Metrobank contributes to nation-building and growth by providing capital to businesses that align with the Bank’s sustainability strategy, which has five focus areas, such as Sustainable Development Goals 1 (poverty eradication), 2 (zero hunger), 4 (quality education), 8 (decent work and economic growth) and 9 (industry, innovation and infrastructure). By focusing on these areas, the bank is helping achieve a sustainable future and long-term success for businesses and the society.

Metrobank is also a responsible partner for growth as it empowers communities through the Metrobank Foundation, Inc. (MBFI). Through MBFI, the Bank supports various programs on education, visual arts, and health aimed at driving positive change toward nation-building.

The MBFI also recognizes individuals for their exemplary service and long-lasting positive impact in key service sectors, such as the academe, military, and police through the Metrobank Foundation Outstanding Filipinos Awards every year.

Through its employee volunteerism arm Purple Hearts Club, Metrobankers are actively helping communities by taking part in disaster and relief efforts, and initiatives on education, health, community assistance and livelihood.

Metrobank is committed to remain a partner for growth that helps customers, Metrobankers, and communities achieve their goals and thrive in the years to come.

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Venice Film Festival: From 007 to Queer, Daniel Craig breaks the mold

Daniel Craig and Drew Starkey in a scene from Queer. — IMDB

VENICE — In a clear break from his James Bond past, Daniel Craig brought his latest role to the Venice Film Festival on Tuesday, playing a drug-addicted gay American in Luca Guadagnino’s new movie Queer.

The womanizing of the debonair Bond is long gone as Mr. Craig’s character, often drunk and disheveled, falls for a younger man in 1950s Mexico, with intimate love scenes between the two men that are likely to cause a buzz in the cinema world.

However, Mr. Craig, 56, said he wasn’t worried if the sometimes-explicit sex sequences made headlines.

“I don’t think about it. No, I mean, what’s the point? You know, I can’t control it,” Mr. Craig told Reuters.

Mr. Guadagnino, who won international recognition with his 2017 gay coming-of-age story Call Me by Your Name, said he hoped the public would look beyond the sex.

“I think Daniel has been so beautifully naked in terms of the soul in this movie that this is going to be the thing that people will connect with, no matter how naked he is on the screen,” the Italian director said.

Mr. Craig made five Bond films, the last, No Time To Die coming out in 2021, but he said he had long hoped to work with Mr. Guadagnino, swapping the big-budget blockbuster for a small-scale indie production shot entirely in a Rome studio.

“I just wanted to work with him for so long. … I met him 20 years ago, yeah, nearly, yes, and we always said we’d work together eventually …, and we did,” he said.

Mr. Craig’s wife, the British actor Rachel Weisz, arrived with him in Venice and was expected to be on the red carpet later on Tuesday for the world premiere of Queer.

His character William Lee lives a solitary life in Mexico City, cruising the bars and knocking back hard liquor, before he becomes infatuated with a quiet bisexual, played by Drew Starkey, who joins the seedy US expat community.

Mr. Craig said he and Mr. Starkey did movement and dance classes together to gain greater intimacy.

“It broke the ice with the two of us,” Mr. Craig said. “We worked very hard together and so we just sort of threw ourselves into it, into kind of, you know, into the whole thing.”

The film is based on an unfinished novel by the US author William S. Burroughs, with Mr. Guadagnino and his screenwriter Justin Kuritzkes giving the story a conclusion, leading the two characters into the jungle in search of a hallucinogenic drug.

“It was a long time in the wishing. You know, I read the book when I was 18,” Mr. Guadagnino said, adding that he bought the rights to the work just two years ago.

“So something that was really a wish for 33 years became a movie that happened in six months.”

Queer is one of 21 movies competing for the prestigious Golden Lion award at the Venice Film Festival, which will be awarded on Sept. 7. — Reuters

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