NEW YORK — The name of best-selling author Laura Ingalls Wilder has been dropped from an American children’s literature award because of racist content in her books based on 19th century settler childhood in the Midwest. The decision comes with many in the United States reassessing historical and cultural legacies, leading to monuments being taken down and buildings renamed as the country grapples with ongoing racism and discrimination. The Laura Ingalls Wilder Award will now be known as the Children’s Literature Legacy Award, the Association for Library Service to Children announced. The ALSC said the decision was made in consideration of “expressions of stereotypical attitudes” in Wilder’s work that are “inconsistent with ALSC’s core values of inclusiveness, integrity and respect, and responsiveness.” Wilder won the first award in 1954. Other winners are E.B. White, the author of Charlotte’s Web and Theodor Seuss Geisel, author of the Dr. Seuss books. Critics have highlighted anti-native and anti-black sentiments in Wilder’s work for decades, although her books are still published, read and loved by many. The books inspired the hugely popular 1974-1983 television series Little House on the Prairie starring Melissa Gilbert. — AFP
CITIBANK, N.A. Philippine Branch (Citi Philippines) is optimistic about the growth of its digital banking platform in the country amid issues on connectivity and usage.
In a press conference Tuesday, Citi Philippines Consumer Banking Head Manoj Varma said the global lender has been making investments and new product features to satisfy the digital needs of its clients.
“Digital and mobile banking [are] core to our growth strategy, not just in the Philippines but globally. We’ve been making investments and new product features and functionality,” Mr. Varma said.
In a statement, Citi Philippines said its customer banking business has focused on digital transformation, continuously enhancing capabilities to make customer experience over its digital channels seamless.
The lender has launched its updated Citi Mobile App which helps its clients manage outstanding balances, track transaction details and rewards points, as well as pay bills.
“The Citi Mobile App will deliver a simple, fast and personalized experience to our valued card customers,” Citi Philippines Chief Executive Officer Aftab Ahmed was quoted as saying in the statement.
Amid its massive adoption of digital technology, Mr. Varma noted the challenges in the country’s Internet infrastructure.
“Some people would argue that there are some inherent challenges in the infrastructure with the speed of internet, the availability of LTE or the cost of data,” he said. “[It] is still a long way where it needs to be compared with some of the other Asian markets.”
Aside from this, Mr. Varma noted that only 14% of Filipinos use their smartphones to do digital banking, citing a study from McKinsey and Co.
“That is an opportunity because we would like to bring forth new customer experience and functionality where customers can take advantage of,” Mr. Varma added.
Despite the “low” usage of digital banking channels among Filipinos, Citi Philippines said its clients are now shifting to electronic means to do banking as two-thirds of its customers no longer go to branches and more than 60% are already enrolled digitally.
“We have an option of building more branches, which was how people used to transact. [However,] we [opted to] put our money in [going] digital because that’s where the future is. That’s where we think more and more customers will like to go,” Citi Philippines’ consumer banking head said.
Going digital, according to Mr. Varma, must work in tandem with ensuring the security of its clients’ data.
“The cyber thieves are getting more advanced. We obviously try to stay ahead of them,” he said. “We are obsessed about the security of our customers. We make sure that we deploy the latest security that we can [that adheres to] global security standards for our customers to protect their information.”
Mr. Varma explained that the Citi Mobile App is equipped with biometric authentication such as face and fingerprint recognition. Aside from this, the Citi Mobile Token instantly generates a one-time personal identification number that authorizes online banking transactions. — Karl Angelo N. Vidal
A SCENE from Club Ate’s work Ex Nilalang which is a finalist at the APB Foundation Signature Art Prize.
THE TRIENNIAL APB Foundation Signature Art Prize spotlights outstanding examples of contemporary art from emerging and established artists produced over the last three years, and for this 4th edition, has expanded in scope to include Central Asia in addition to the Asia Pacific region. The Prize is worth SG$100,000, with SG$60,000 awarded to the Grand Prize winner and SG$15,000 each for two Jurors’ Choice Award winners. Fifteen finalists were selected by the Jury and two among them is Filipino/Australian artist collective Club Ate comprising Bhenji Ra and Justin Shoulder with their work Ex Nilalang (Balud, Dyesebel, Lola ex Machina) (2015), a video trilogy that reimagines Filipino myth and popular culture as celebratory narratives, drawing upon the artists’ personal experiences as Filipino-Australians in an exploration of cultural and gender identity. The exhibition of artworks by the 15 finalists is on view at the National Museum Singapore, with the announcement of the winner coming up on June 29.
Meet Yoko Tawada
YOKO TAWADA, an award-winning exophonic writer, will talk about her works and share her experiences about writing in both Japanese and German at “Writing in Two Worlds: An Afternoon with Yoko Tawada,” on July 9, 2:30-4:30 p.m., at the De La Salle University, Br. Andrew Gonzales Hall. Register now at bit.ly/WritingInTwoWorlds.
Art at Magnolia
BOYSIE VILLAVIVENCIO’s In the Still of the Night, one of the works that will be on view at Robinsons Magnolia.
BOYSIE VILLAVICENCIO will open his one-man show on June 28 at the upper ground floor of the Robinsons Magnolia mall. Titled Celebration under the Sea — Alumni Art Exhibition 2018, it will feature his brightly colored works until July 7. The show is presented by the Ateneo High School Class of 1968, 4-F Elans. Apart from the exhibit, five artists will be recognized on June 28 for their contribution to culture and the arts by the Rotary Club of Makati. They are Tony Perez, Anton Juan, Barge Ramos, Nonon Padilla, and Mr. Villavicencio.
Korean artist
A PAINTING by Korean artist Su Bok Kim at ArtistSpace
ON June 30, the Ayala Museum’s ArtistSpace presents Harmony, the 10th solo exhibition of Korean visual artist, Su Bok Kim. It will feature the artist’s lively and abstract impressionist view on nature. She draws out segments of forests in different seasons, painting is a pointillistic style to form one bigger picture.
Group show
Vinyl on Vinyl presents FIRST LESSONS/ an after school special featuring works by Anjo Bolarda, Roberto Sanchez, Dennis Bato, Chalk Zaldiva, Teo esguerra, Miguel Paulo Borja, curated by Gary-Ross Pastrana. The exhibit is ongoing until June 30. The gallery is at 2241 Pasillo 18, La Fuerza Compound 1, Chino Roces Ave., Makati City.
TOKYO — Bank of Japan policy makers said the central bank should “patiently continue” its powerful monetary easing but attention must be paid to the potential side effects of prolonged easy policy, a summary of opinions at the June review showed.
Some board members said the central bank needs to keep monetary easing from severely distorting economic and financial conditions, and to make the current policy sustainable.
With inflation well below the BoJ’s 2% target despite five years of stimulus, one member said the central bank must make efforts to improve communication with the public on its commitment to meet the price stability goal, the summary showed.
“It is appropriate, if necessary, to make efforts to improve communication and enhance the commitment in a broad sense towards achieving the 2% inflation target,” the member said.
The BoJ left monetary policy steady at the June 14-15 rate review but cut its inflation view in a sign it would lag far behind other major central banks in unwinding crisis-mode monetary stimulus.
Subdued inflation forces the central bank to maintain its massive stimulus despite its rising costs, such as the hit to bank profits from rock-bottom interest rates.
One member said the BoJ should consider responses to side effects before they materialize, as banks face an increase in unrealized losses on securities and risks of impairment losses at branches with low profitability, the summary showed.
Another board member called for an additional commitment that fuels inflation expectations.
“While the BoJ board’s mainstream view is to continue powerful easing to keep the momentum towards the price target, opinions appear to have become clearly divided,” said Yoshimasa Maruyama, chief market economist at SMBC Nikko Securities.
“Still, opinions that rule out additional easing seem to be gaining ground at the moment. As such, we do not expect tweaks to monetary policy at the July policy review.”
The BoJ buys government bonds and riskier assets including exchange-traded fund (ETF) as part of its massive stimulus, but one member called for examining the possible side effects from such asset purchases from every angle, it showed.
Another member warned against adopting a policy aimed at forcibly pushing up demand quickly, as sluggish prices are unlikely to be caused by simple factors like lack of demand.
The summary showed some members called for deepening of analysis and debate on why it is taking time to hit 2% inflation, at its July policy review when the nine-member board conducts a quarterly review of its growth and price projections.
The BoJ releases a bullet-point summary of the opinions voiced by the board members at its policy meetings roughly a week after they are held.
The views do not identify whose opinions they are. A more thorough minutes of the debate will be issued several weeks later. — Reuters
A GROUP of Asian central banks have agreed to lend local currency bonds through a regional securities market, with the goal of improving cross-border bonds trade and boosting money supply.
In a statement, members of the Executives’ Meeting of East Asia-Pacific Central Banks (EMEAP) announced the creation of a platform for securities lending.
Selected local currency-denominated papers held under the regional Pan-Asia Bond Index Fund (PAIF) will be open for lending through the regional securities market starting July 10.
The PAIF is a component of the Asian Bond Fund, which invests in government and quasi-government bonds among EMEAP member-economies. The goal is to develop bond markets across the region following the 1997 Asian financial crisis.
The Bangko Sentral ng Pilipinas is part of the EMEAP, alongside the central banks and monetary authorities from Australia, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, New Zealand, Singapore and Thailand.
“The EMEAP believes that PAIF Securities Lending will improve the liquidity of local currency-denominated bonds in the secondary markets, consistent with the EMEAP’s common goal to broaden and deepen bond markets in the region,” the group said in a joint statement issued late Tuesday.
“The EMEAP also believes that PAIF Securities Lending will help to enhance the functioning of regional money markets.”
The securities lending platform allows a financial firm to borrow local currency-denominated bonds from PAIF by posting eligible collateral. In turn, PAIF “retains the right to recall the loaned bond at any time.”
This effectively allows borrowers to secure cash which are expressed in their own currency, which is a new avenue they can turn to when in need of a fresh supply of cash. To add, this also enhances price discovery in the secondary market.
The EMEAP said the Asian bond market has grown by nearly eightfold since 2003 to surpass the $10-trillion mark.
National governments and private companies float debt papers as part of their fund-raising activities. — Melissa Luz T. Lopez
YOKOHAMA, JAPAN — The uber-wealthy now have another reason to be uber-happy. With the release of the Cullinan, Rolls-Royce has formally, decisively, and dramatically entered the sport-utility vehicle market.
“Together with the Dawn and Wraith, the Cullinan provides a third emotional component to our lineup,” said Paul Harris, Rolls-Royce Motor Cars regional director for Asia Pacific, at a press preview of the SUV here.
The UK car maker makes no bones about the significance of its first sport-ute in its more than a century of making the most luxurious of cars. Named after the world’s largest gem-quality rough diamond ever found, the Cullinan was systematically and deliberately developed over some of the harshest of environments, such as the Scottish highlands, ice-blanketed passes of the Austrian Alps, and sand dunes of the Arabian peninsula.
All-wheel drive and all-wheel steering lend further confidence and credence to an already compelling, 6.75-liter, 48-valve, twin-turbo V12 engine generating a stout 563 hp and 850 Nm. Designers and engineers made sure the Cullinan looks every inch a Rolls-Royce — with the signature long hood and an execution of the familiar Parthenon grille.
In exclusive interview, Mr. Harris admitted to BusinessWorld; “We had to make sure that [getting in the segment] was right for us, and we wanted to do it in the right way.” He continued that the Cullinan had “bookends” of the SUV market — the “ultimate luxury” of the vaunted “magic carpet” ride, and an incredible capability and competency off road. The executive quipped; “This product is a complete and perfect blend of these two qualities. That was our remit to our engineers.”
The Cullinan suspension systems adapts through “millions of calculations every second as it continuously varies the electronically controlled shock absorber adjustment system — reacting to body and wheel acceleration, steering inputs and camera information.” Meanwhile, a double-wishbone front axle and five-link rear axle control lateral roll and shear forces to deliver “incredible” agility and stability, as does the addition of four-wheel steering, which makes the SUV nimble.
An electronically controlled shock absorber adjustment system uses an air compression system “to actively push down any wheel it detects losing traction to ensure every wheel is constantly in contact with the ground and maximum torque is being provided to all wheels.”
Again, it is about Rolls-Royce “wholeheartedly committing to [the project], and in the right way,” Mr. Harris underscored.
In a presentation, Rolls-Royce Motor Cars product manager for the Cullinan, Jonathan Shears, pointed out that the vehicle’s “rear seats sit higher than those in the front passenger, [boasting] a pavilion view through the side windows, and a clear view over the front seats and through the front screen through the adventure ahead.” As with its siblings, pampering comes standard in the Cullinan, such as massaging seats, a glassware holder, and a champagne bottle cooler.
The car maker said the Cullinan is the first “three-box” car in SUVs. A partition wall gives a distinct “environment for passengers,” one that is acoustically insulated from even the cargo hold. “It’s an off-road vehicle that offers more than those currently available in the market,” Mr. Shears declared.
A five-seat Cullinan is also available for those who want more space and flexibility.
As for its target demographic, Mr. Harris described the Cullinan client as, “style-conscious, definitely… someone who likes to stand out from the crowd. They are young, active, social individuals with a love of the outdoors and adventure. They are very family-focused, living mobile and often sporting lifestyles.”
Sales prospects appear to be bullish for the brand across the Asia-Pacific region, continued the official.
Mr. Harris reported that the “ultra-high net worth market is growing by 8-9%, irrespective of economic changes… the market opportunity is there.”
But territories where duty rates continually change can prove to be troublesome. “There I think sometimes we struggle to grow purely because the price points at which somebody can buy is so far out. If change is a regular occurrence it makes even the ultra wealthy wonder when is the time for them to buy. I think that is a bit of a challenge from a Rolls-Royce perspective,” he revealed. On the whole though, “Asia… has a big pool of ultra-high net worths. I still think it’s a significant growth engine for Rolls-Royce globally.”
The company doesn’t consider its first foray into the SUV market as facetious undertaking for a brand steeped in tradition. Rather, it is about living up to standards. “Ultimately, Rolls-Royce has always been a trendsetter over 100 years. If you look at the trends, the SUV segment is the one segment globally that continues to grow. I think it would have been difficult for Rolls-Royce not to enter that and sustain a relevant product lineup across all segments,” concluded Mr. Harris.
PIKES Peak. It’s the most famous venue for a hill climb race. Located in Colorado, it is marked by 156 corners and a finish line that sits more than a kilometer-and-a-half above sea level. Bentley’s new Bentayga — the brand’s first sport-ute model — on June 24 claimed the Pikes Peak International Hill Climb record for production SUVs.
Two-time Pikes Peak champion Rhys Millen drove the Bentayga through the 19.98-kilometer course in 10 minutes and 49.9 seconds, indicating an average speed of 107 kph. The result bested by nearly two minutes the previous record set in 2013 by Paul Dallenbach aboard a Range Rover Sport.
In a statement, Bentley Motors noted the Bentayga used at Pikes Peak was a “near-production” car, with “only minimal changes” made to a standard model — as the event’s rules dictated. The car’s front seats were replaced with racing versions, the rear seats were removed, and a roll cage and a fire suppression system were installed. Tires fitted came from Pirelli’s DOT-marked range, and a production-spec Akrapovic sport exhaust replaced the stock unit. A special paint job adorned by all-black chrome and a carbon-fiber body kit from Bentley’s Black Specification range distinguished the Pikes Peak Bentayga.
The Bentayga is propelled by a W12 engine that outputs 600 hp and 900 Nm. The SUV is equipped with an adaptive air suspension, active electric anti-roll control and carbon ceramic brakes, among other high-performance items.
To celebrate the Pikes Peak record, Bentley Motors on June 25 announced a limited edition Bentayga, of which only 10 examples will be made. Created and handcrafted by Mulliner — Bentley’s in-house bespoke and coach-building division — the Pikes Peak Bentayga will come in either Beluga black or Radium green, two-tone 22-inch wheels, Black Specification carbon-fiber splitter, side skirts, diffuser and rear spoiler. A Pikes Peak motif will adorn the front fenders.
Inside the car, Mulliner Design pieces mix Key Lime accents with Beluga leather, and the seats and doors will get Alcantara inserts. The steering wheel and gear lever will also be trimmed in Alcantara, and the headlining in Eliade cloth. A Pikes Peak logo and numbered tread plate will complete the theme.
Bentley Motors said the limited edition Bentayga will be available to order starting in August for customers in the US and Europe. — BMA
JAGUAR and Land Rover in November 2017 announced the appointment of Coventry Motors Corp. (CMC) as their new importer and distributor in the Philippines. On June 21 the first dealership in the country authorized by CMC to sell and service the British brands officially opened for business.
Operated by All British Cars, the new Jaguar and Land Rover facilities on 1008 EDSA, Greenhills, San Juan City, was inaugurated by the brands’ Asia Pacific officers Alistair Scott and Andy Wust, British Ambassador to the Philippines Daniel Pruce, Mayor of San Juan City Guia G. Gomez, and key executives of CMC and All British Cars.
Mr. Scott called the dealership a “new chapter” in Jaguar’s and Land Rover’s “brand footprint in the Philippines,” noting that, like all of the their showrooms elsewhere in the world, it would also allow customers to “immerse themselves” in the companies’ products.
CMC said the All Britsh Cars showroom was built to comply with Jaguar’s and Land Rover’s retail design standard, in which all furniture and fixtures used are uniform around the world. The showroom measures a little over 3,000 square meters, allowing it to accommodate nine vehicles for display, shelves for merchandise and accessories, a vehicle handover area, and customer lounges kitted out with a self-serve bar and video screens, one of which shows live feeds from the service bays.
The service and after-sales facilities are housed in a separate 2,100-plus square-meter area. These have six workshop bays and, according to CMC, are equipped with all the latest tools, as well as the capacity to conduct durability, calibration, brake, power train, suspension and hot-weather testing.
“As the sole authorized service center for Jaguar and Land Rover vehicles, [All British Cars] customers are guaranteed of world-class service provided by experts who are trained on Jaguar and Land Rover technologies and methodologies,” said Joseph Anthony C. Ayllon, assistant vice-president for PR communications at CMC.
The official added All British Cars will accept for servicing Jaguar and Land Rover vehicles purchased from the previous importer and the gray market, as well as those that are already outside the coverage of a warranty. — Brian M. Afuang
HYUNDAI Asia Resources, Inc. (HARI) announced it served as Official Vehicle Partner in the 2018 FIA Motorsports Conference held on June 3-7 in Manila. HARI, authorized distributor of Hyundai vehicles in the Philippines, provided Hyundai H350 and Starex vans for the event.
The conference was organized by the Federation Internationale de l’Automobile, which oversees virtually all disciplines of motor racing in the world, together with the Automobile Association of the Philippines.
The sixth edition of the FIA Motorsports Conference was the first held in Asia. It was attended by more than 200 delegates from 93 countries, who discussed racing safety and the future and growth of the sport in the face of fast-emerging modes of alternative transportation and entertainment.
HARI said Hyundai has long been a participant in international motor sports.
“Hyundai’s engagement with FIA puts a stamp on our never-ending work to make Hyundai innovation ever more accessible to the most diverse markets, and to unlock their potential to get more out of life,” said Ma. Fe Perez-Agudo, HARI president and CEO.
REPRESENTATIVES from six of the 24 dealerships that participated in the 13th edition of the Isuzu Service Skills Olympics have dominated the competitions held on June 1-2 at Isuzu Philippines Corp.’s (IPC) manufacturing plant in Biñan, Laguna.
The winners in the Service Technician category were Jonathan Mediona and Arniel John Alom of Isuzu Davao (second runner-up); Crispin Maldonado and Jumar Verano of Isuzu Pasig (first runner-up); and Ahrjay Pulvera and Reynaldo Gepulle of Isuzu Alabang (champion).
The Service Advisor category was topped by Dyrenerose Benecio of Isuzu Pasig (second runner-up), Jorussel Reyes of Isuzu Cabanatuan (first runner-up) and Julius Caesar Opaco of Isuzu Mandaue (champion). The best in the Parts Analyst category were Christopher Garcia of Isuzu Cabanatuan (second runner-up), John Louie Carlos of Isuzu Pasig (first runner-up) and Joana Zorilla of Isuzu Pampanga (champion).
IPC said Mr. Maldonado, Mr. Reyes and Ms. Zorilla were also cited best in their respective categories in the written exam competition.
Isuzu Pasig emerged as champion in the skills Olympics.
IPC said two teams will represent the Philippines in the 2018 Isuzu World Technical Competition slated in Thailand on Sept. 12 (light commercial vehicle category) and in Japan on Dec. 6 (commercial vehicle category).
Subaru offers models for test-drives
THE domestic distributor of Subaru, Motor Image Pilipinas, Inc., announced its vehicles equipped with symmetrical all-wheel drive, boxer engine, Subaru Global Platform and EyeSight Driver Assist Technology can be driven by customers during a series of activities.
The first is set on June 29 to July 1 at Uptown Parade in Bonifacio Global City, which will be followed on July 20-22 at SM Lanang Premier in Davao City, and on Aug. 24-26 in Cebu (no venue has been announced yet).
Motor Image is now accepting confirmations of attendance at subaru.asia/ultimatetestdrive.
Subaru offers models for test-drives