Home Blog Page 13595

‘Cacao City’ seen to boost sector’s SMEs, small growers

NEWLY OPENED Cacao City in Davao City is not just a café and chocolate shop, but is intended to serve as a central marketing and networking venue for growers, processors, and buyers. “This is a venue where we can help more small and medium enterprises (SMEs) and more small farmers get into cacao farming and cacao processing,” Mayor Sara Duterte-Carpio said during Monday’s opening of the establishment, which is a joint initiative of the city government and the private sector through the Cacao Industry Association of Mindanao (CIDAMI). The project is in line with the recent Regional Development Council (RDC) resolution adopting a proposal to declare the entire Davao Region as the cacao and chocolate capital of the country. The cacao sector is also listed among the priority industry clusters under the Davao Regional Development Plan 2017 to 2022. Davao Region accounts for about 81% of the total cacao production in the country. Philippine Statistics Authority data shows that 5,073 metric tons (MT) of the total 6,262.77 MT produced in 2016 came from Davao. Davao del Sur had the biggest contribution at 1,702.54 MT, followed by Davao City with 1,606.80. The rest of the provinces produced the following: Davao del Norte, 945.31 MT; Davao Oriental, 507.26 MT; and Compostela Valley, 311.92MT. — Carmencita A. Carillo

Step into the frame

Art heals the heart and soothes the spirit.

During a season of extreme anxiety, pain or distress, one seeks relief in another dimension, in a different time frame. One looks back at a past experience that brought novelty, wit, color and a sense of balance.

Have you ever imagined what it would be like to step through the frame and enter the world of one of your favorite paintings?

One memorable exhibition Beyond the frame: Impressionism Revisited allowed the viewer to enter the realm of a two-dimensional painting and experience the life being lived there.

Seward Johnson interpreted Impressionism in his innovative, witty and humorous sculpture exhibition at the Corcoran Gallery in Washington DC.

Instead of merely gazing at a painting, one could touch the sculpture and be photographed in the act of reclining or sitting with the subjects. A closed circuit camera showed the live scene on a gilded frame with a video screen. As one entered the scene, one became part of the video painting of the masterpiece. Clever and ingenious.

Art lovers who have seen the Impressionists at Musee D’Orsay in Paris feel that the experience is the ultimate and it cannot be matched anywhere else in the world. The masterpieces of Monet, Manet, Renoir, and Van Gogh — in full glory. The subtle overhead light enhances the shimmering effect of sunlight as seen and painted by the artists.

Look but do not touch. No flash photography. These are museum rules that are strictly enforced.

The Corcoran exhibit (some years ago) was startling and impressive in manner and scale. The 18 tableaux were spread out and given so much breathing space. One would get the feeling of being outdoors “plein air” (i.e. in the field or by the Seine) or indoors in an intimate personal space (a bedroom or boudoir). The original artist was included in some of the tableaux. Monet was shown painting on the balcony. Overlooking the scene of his painting or floating in hi boat-studio.

It takes a certain type of imagination to recreate each scene and add all the little inventive touches to make the viewer feel involved. J Seward Johnson, Jr. accomplished the goal by bringing the viewer into a painting.

The artist, heir to the Johnson and Johnson Pharmaceutical fortune, expressed his joie de vivre though his engaging life-like metal sculptures.

Born in 1930, the artist rejected an early career in the family’s firm. He started as a painter and became famous as a sculptor. The past president of International Sculpture Center of Washington D.C., Mr. Johnson created a 22-acre public park in Hamilton, New Jersey where many of his life-like bronze sculptures are displayed. Throughout the world, his works of everyday people inhabit public spaces.

People who see his works — sitting nonchalantly on a bench or displayed under the trees — do a “double take.” The works appear so real and alive.

“I want to draw attention to the simple pleasure…to show how much fun life is” Mr. Johnson remarked on the whimsical, playful 3-D interpretation of the masterpiece.

In the exhibit of cast metal tableaux with digitally reproduced backgrounds of the famous artworks one can enter and savor “a sweet spot.” One sees beyond the frame — what the artist wanted to be left out and what was left unsaid. The viewer is encouraged to imagine what the subjects are thinking and feeling. Up close, one can almost hear the sculptures talking, dancing or celebrating life at a banquet.

The artist recreates the subject and complex spatial relationship of late 19th Century Impressionist art. Impressionism is primarily the school of plein air — outdoor painting.

“Seward offers a body of works that balances the serious against the light-hearted,” Corcoran director David Levy wrote, “while providing a compelling and accessible introduction to great masterpieces for the young and old alike — an entirely new way of seeing and literally feeling our artistic heritage.”

Among the stunning pieces was “Confrontational Vulnerability” on Edouard Manet’s Olympia the sultry seductress reclining on the chaise lounge inside her elaborate boudoir. The woman is naked, not nude. The difference in terms is explained by the fact that a nude is an ethereal figure from classical history and mythology such as Venus or Aphrodite. This Impressionist painting was considered shocking at that time because it was a portrait of a recognizable contemporary courtesan. Her demeanor was provocative as she boldly stared at the viewer.

Claude Monet’s two beloved paintings — Woman with a Parasol and Poppies at Argenteuil, were interpreted as a singular tableau On Poppied Hill. Red poppies and wild grass surrounded Monet’s wife Camille and son Jean who stand on the crest of a windy hill. In the Rotunda room, one could go around the hill and look up at the figures that were it from above.

Welcome Home was Vincent Van Gogh’s The Bedroom in the yellow house in Arles. The intimacy of Van Gogh’s personal space was strangely compelling. The proportion of the room is somewhat distorted and the bed is disheveled. One could sense the vibration as seen in the artist’s quivering brushstrokes.

The artist injected emotional, humorous and spiritual qualities that intensified the viewer’s relationship with the original painters.

“It’s funny. No one ever wants to leave this room. I love seeing people connect with these sculptures,” Mr. Johnson remarked during the exhibition.

It was a smashing success. Children and sophisticated art connoisseurs had a fun experience with paintings as they imagined life in another dimension.

Years later, one can still recall the images, colors and the feelings of vibrancy and lightness of the art and sculptures of Johnson. If only we could prolong the feel-good sensation.

 

Maria Victoria Rufino is an artist, writer and businesswoman. She is president and executive producer of Maverick Productions.

mavrufino@gmail.com

Ikea buys on-demand help start-up TaskRabbit

IKEA on Thursday announced a deal to acquire on-demand help start-up TaskRabbit as the world’s largest furniture retailer grabbed a seat in the online sharing economy.

TaskRabbit provides an online platform where people can hire freelance labor for anything from fixing leaky plumbing or assembling furniture to picking up groceries or waiting in queues outside Apple stores to buy iPhones on launch days.

Since being founded nine years ago, San Francisco-based TaskRabbit has spread to 40 US cities and London, according to the company.

“Through our unique on-demand platform, TaskRabbit is making life better for both consumers and Taskers,” start-up Chief Executive Stacy Brown-Philpot said.

TaskRabbit expected the merger with IKEA Group to result in a broader array of services being offered and the potential for ‘taskers’ to make more money.

Financial terms of the acquisition were not disclosed. TaskRabbit will continue to operate as an independent company, according to Ikea, which has its headquarters in the Netherlands.

Late last year, Ikea successfully tested making TaskRabbit talent available to help Ikea customers assemble newly bought furniture.

“In a fast changing retail environment, we continuously strive to develop new and improved products and services to make our customers’ lives a little bit easier,” Ikea Chief Executive Jesper Brodin said in the joint release.

“Entering the on demand, sharing economy enables us to support that.”

Ikea planned to make TaskRabbit services available to customers after the acquisition is completed. — AFP

‘Are we a nation of states? What’s the state of our nation?’

That title is one of the lines in the hit Broadway musical, Hamilton. It tells the story of the young, scrappy, and hungry United States of America when it was just gaining its independence from England. It explores the crossroads when 13 colonies eventually coalesced into one nation bound under a federal form of government.

The Philippines is at a similar crossroads now. Federalism has become a hot topic ever since the campaign of the new president. It has been offered as a possible solution to several societal problems of the Philippines. As a system of government, it is a radical departure from our current system of unitary government. Currently, we have one strong central government and several local government units which are subordinate to the central government. In a federal setup, the two levels of government, namely the central government and state governments, are of relatively equal stature and power. The most well-known example of a federal system of government is of course that of the United States. Several other examples exist, including Malaysia, Canada, Germany, Brazil, Australia, Mexico, Russia, and India. In most of these countries, federalism started when several smaller colonies or territories decided to unite and form one country. Philippine federalism would be different in the sense that one unified government will then form several states which are federated together to form one country.

At this point, we cannot be certain as to how Philippine Federalism might look like.

To be sure, there will be several aspects to consider when we shift to a federal form of government. For one thing, the system of taxation and commerce will have to be redefined to delineate which forms of revenue and taxation is reserved for the states and for the federal government. There will also be a need to redefine the legal and judicial system.

In most federal governments, the individual states have their own legal system, Constitution, and courts. The relationship of these state-level legal system and federal-level legal system must be properly defined in order to avoid friction and confusion. Aside from these, the relations of the individual states among themselves must also be properly defined. Definitely, the manner of doing business on both the federal and state level will be affected.

In any case, a shift to a federal system from the present unitary system of government would require a constitutional revision which is entirely different from a mere constitutional amendment.

In the landmark case of Lambino v. Comelec, the Supreme Court differentiated between an amendment and a revision. A change which “alters the substantial entirety of the Constitution, as when the change affects substantial provisions of Constitution” is a revision. On the other hand, an amendment is a change that “adds, reduces, or deletes without altering the basic principle involved.” The difference between an amendment and a revision is not just an academic distinction. Such difference determines which modes can be used in order to initiate the constitutional change. Article XVII, Sections 1 and 2 of the 1987 Philippine Constitution provides that constitutional revisions may only be implemented by Congress as a constituent assembly, or by a constitutional convention elected by the people. As discussed in Lambino v. Comelec, Constitutional revision cannot be implemented through a people’s initiative.

By all indications, a shift to a federal form from the current setup will entail a constitutional revision. Such a shift would definitely entail a rewriting of a majority of the provisions of the Constitution, resulting in far reaching changes in the basic governmental plan. The only way, therefore, for a valid shift to federalism would be through a constitutional convention or through Congress as a constituent assembly.

Despite not allowing for a direct participation by the people in the deliberations for the constitutional revisions, a Constitutional Convention or Congress as a constituent assembly does not entirely preclude the general public from participating in the shaping of the new Constitution. There is still public participation before, during, and especially after revisions are made because any change would still be submitted to the people through a plebiscite. Only after the people approve it in a plebiscite will the new Constitution, and a new federal form of government, will come into existence.

Several proposals for the mode by which amendments are to be made, as well as the substantive amendments themselves have been filed in the present 17th Congress. All of which are being considered by the respective committees on Constitutional Amendments. The Executive Branch has also weighed in on the possible constitutional revisions by issuing Executive Order No. 10, series of 2016 which mandated the formation of a Consultative Committee to review the 1987 Constitution.

The crossroads we are in right now calls all Filipinos to be vigilant and to participate in the continuing project of nation-building. A Constitutional change gives all Filipinos a shot to shape the country’s future and to think past tomorrow. Let’s not throw away our shot.

This article is for general informational and educational purposes only and not offered as and does not constitute legal advice or legal opinion.

 

Enrique F. Nitura is an Associate of the Litigation and Dispute Resolution (LDRD) of the Angara Abello Concepcion Regala & Cruz Law Offices (ACCRALAW).

efnitura@accralaw.com

GMs’ MVP

In close to three months, LeBron James will be turning 33 and well into his 15th season in the National Basketball Association. And he’ll be an old 33, having had a career spanning 50,399 minutes through 1,278 games, the playoffs included. To understand the toll his body of work has taken on his, well, body, one need only consider that he already ranks 87th all time in regular season matches played and 25th all time in minutes played. And still he keeps chugging along; he will be embarking on a campaign that pundits believe will net him an eighth straight Finals appearance, a feat not seen in 50 years and bettered by only four players who toiled for the Celtics dynasty in the sixties.

Considering James’ durability and dependability, it’s no wonder that he again figures prominently in NBA.com’s latest survey of general managers. As far as they’re concerned, he’s the safest bet to claim Most Valuable Player honors for the 2017-2018 season. For the record, that’s what they also said last year, and the year before that, and the year before that, and the year before that, and the year before that. Parenthetically, this year’s poll likewise has him tabbed the league’s best passer, best leader, and best small forward, not to mention the player with the highest intelligence quotient, the most versatile, and the toughest to plan for.

To be fair, the GMs get more things wrong than right; James hasn’t won the MVP award since 2013, for one. Then again, there’s cause to believe they’re more on the mark this time around. The immediate past season had him norming career highs in rebounds and assists, and yet he found himself out of the Top Three in the MVP vote tally for the first time since 2008. The snub prompted him to stay in shape and emerge from what he disclosed to be his most productive offseason in a while. He left the reason unsaid, but his objective is clear: He wants to hit the ground running and show his worth.

The question, of course, is whether James will pace himself enough to stay in the MVP discussion and, at the same time, keep fit for the playoff grind. Championship rings are what have driven him most, which was why he thought best to ease up on the throttle early and then shift to higher gears when appropriate en route to competing for the hardware. For GMs, the answer is yes, and it’s now up to him to prove them right.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is the Senior Vice-President and General Manager of Basic Energy Corp.

Skipping breakfast may double risk of hard arteries — study

MIAMI — People who skip breakfast or eat poorly to start the day are twice as likely to develop hardened arteries, which can lead to deadly heart disease, researchers said Monday.

The study in the Journal of the American College of Cardiology uncovered signs of damage to the arteries long before symptoms or disease developed.

Researchers said their findings could offer an important tool in the fight against cardiovascular disease, the world’s top killer, which took 17.7 million lives in 2015, according to the World Health Organization.

“People who regularly skip breakfast likely have an overall unhealthy lifestyle,” said study author Valentin Fuster, director of Mount Sinai Heart and editor-in-chief of the Journal of the American College of Cardiology.

“This study provides evidence that this is one bad habit people can proactively change to reduce their risk for heart disease.”

The report was based on 4,000 middle-aged office workers in Spain. Participants were followed for six years.

About one in four ate a high-energy breakfast, which included 20% or more of the day’s calories.

Most people in the study — 70% — ate a low-energy breakfast that gave them five to 20% of their daily calorie intake.

Three percent said they skipped breakfast altogether or ate very little. This group “tended to have more generally unhealthy eating habits and a higher prevalence of cardiovascular risk factors,” said the report.

People who skipped breakfast also “had the greatest waist circumference, body mass index, blood pressure, blood lipids and fasting glucose levels,” it said.

Researchers used ultrasound technology to scan participants for signs of fatty deposits in the arteries, or early evidence of disease.

They found that people who ate less than 5% of their recommended daily calories at breakfast had, on average, double the amount of fatty buildup in the arteries as people who ate a high-energy breakfast.

This heightened risk of hardened arteries among people who skipped breakfast or ate little to start the day appeared independently of other factors, such as smoking, high cholesterol and physical inactivity.

Previous studies have shown that eating a healthy breakfast is linked to good health, including a lower body weight, healthy diet, and lower risk of problems with cholesterol, blood pressure and diabetes.

Skipping breakfast has also previously been shown to raise the risk of coronary artery disease.

According to Prakash Deedwania, professor of medicine at the University of California, San Francisco and author of an accompanying editorial in the journal, the study offers more evidence that skipping breakfast can be harmful to one’s health.

“Although breakfast skippers are generally attempting to lose weight, they often end up eating more and unhealthy foods later in the day. Skipping breakfast can cause hormonal imbalances and alter circadian rhythms,” said Deedwania.

“That breakfast is the most important meal of the day has been proven right in light of this evidence.” — AFP

Tillerson denies rift with Trump

WASHINGTON — US Secretary of State Rex W. Tillerson firmly denied Wednesday that he had fallen out with Donald J. Trump and vowed to remain in post, dismissing a report that he had once dubbed the president a “moron.”

For his part, Mr. Trump declared he has “total confidence” in his top diplomat, after both had denied an explosive report that Mr. Tillerson became so frustrated over the summer that he considered resigning.

According to the NBC News story, which cited “multiple senior administration officials” but was described as “erroneous” by the State Department, Mr. Tillerson had referred to Mr. Trump as a “moron” at a July 20 Pentagon meeting.

Afterwards, the report said, Mr. Tillerson met with Vice-President Mike Pence, who urged him to show more respect, and with other senior officials who urged him not to resign.

Appearing before reporters at a hastily organized news conference in the State Department, Mr. Tillerson denied the report and pledged Mr. Trump his full support.

“There’s never been a consideration in my mind to leave,” the former oil executive said.

“I serve at the appointment of the president and I am here for as long as the president feels I can be useful to achieving his objectives.”

Mr. Tillerson’s spokeswoman Heather Nauert later said the secretary had called Mr. Trump. “He told me that, Heather, it was quote ‘a good conversation’ and that ‘we’re all good,’” she said. — AFP

Bagels, pretzels, Boo! How to explain science Nobels

STOCKHOLM, SWEDEN — What do a pretzel, a lock of hair, and a scream have in common? They’ve all been used to explain the highly complex scientific research honored with a Nobel Prize to the general public.

In recent years, the various Nobel science prize committees have gone to great lengths to make the pioneering discoveries understandable to a broad audience, occasionally finding creative and amusing ways of getting their message across.

“I think we’re sometimes a little scared of being too adventurous when presenting the Nobel Prize because it’s serious and important,” Sven Lidin, who served for 12 years as a member of the Nobel chemistry committee, told AFP.

This year’s Nobel Prize season kicked off on Oct. 2 with the medicine prize, followed by the physics prize on Oct. 3 and the chemistry prize on Oct. 4. The prizes for literature, peace and economics will be announced in the days that follow.

The tough task of conveying the prizes’ significance beyond academic and scientific circles is one the various committees take seriously.

“If you’re going to reach out to others than scientists then you have to make a lot of effort and also make sure it’s accurate,” said Mr. Lidin, who chaired the Nobel chemistry committee from 2012 to 2014.

‘BOO!’
Currently a chemistry professor at Lund University, Mr. Lidin stunned the audience and elicited laughs when he shouted “Boo!” under a painting inspired by Edvard Munch’s The Scream to explain the 2012 Nobel chemistry prize.

“Do you remember the last time you got really scared? The dryness of the mouth, the heart that skips a beat… These are signs that your body is getting ready for flight or fight,” he said at the time.

Mr. Lidin was explaining the discovery of “G-protein–coupled receptors.”

Not many people may know what they are, but they’re crucial: they help our cells react to adrenaline and hormones, explaining how cardiac cells know to raise the heart rate when we are startled, for example.

And in 2014, the chemistry Nobel honored “the development of super-resolved fluorescence microscopy,” according to the prize citation.

Hmmm. Once again, you’re not alone if you don’t know what that is.

To explain it, Mr. Lidin surprised the audience by pulling out a lock of his own hair to show how the prizewinners had laid the foundations for the development of nanoscopy, an ultra-powerful microscope that enables scientists to closely look at the inner workings of a cell, revolutionizing disease research.

“It’s very important to not just make a show out of (the announcement), but to also make it relevant,” he said.

‘NOT TRAINED CELEBRITIES’
Thors Hans Hansson, a member of the Nobel physics committee, made headlines last year when he brought a cinnamon bun, a pretzel, and a bagel to explain the field of topology, a highly specialized mathematics field studying unusual phases or states of matter.

Referring to the two holes in the pretzel, the one hole in the bagel, and the shape of a bun, Hansson demonstrated that topology explains how a material’s shape can be completely deformed into a new one without losing its core properties.

The committees are also keen to explain why the public should care about the research, providing examples of practical applications.

The G-protein-coupled receptors discovery, for instance, has led to life-changing methods for antihistamines and psychiatric medications with fewer side effects.

And for topology, the physics committee noted that it may one day yield superfast and small computers.

But the pretzel-bagel-bun example — which Mr. Hansson said was “fun” — didn’t just come out of the blue.

The Nobel physics committee has a large staff of social media and web experts responsible for making sure the information they provide is comprehensible.

“We are scientists… we are not trained celebrities,” Mr. Hansson said with a chuckle, adding that committee members get advice from media experts before the prize announcements.

“People give you comments: ‘Is what you said understandable? Or did you go into lots of technical garbage that no-one would understand?’”

But Mr. Hansson warned that a vivid illustration should never jeopardize the prize’s prestige.

Clearly, “it shouldn’t be simplified to the extent that it is wrong,” he stressed.

“We try to protect this (award). We want to see that every year… when people see who won this prize, they will say ‘Wow, this was really something, it was really worth it’.” — AFP

What to see this week

4 films to see on the week of October 6-13, 2017

My Little Pony: The Movie

My Little Pony: The Movie
THE MANE 6 — Twilight, Sparkle, Applejack, Rainbow Dash, Pinkie Pie, Fluttershy, and Rarity — journey beyond Equestria when evil threatens their home. The magic of friendship is used during the quest to save Ponyville. Directed by Jayson Thiessen, this animated movie features the voices of Ashleigh Ball, Tara Strong, Emily Blunt, Zoe Saldana, and Kristin Chenoweth.
MTRCB Rating: G

The Debudantes

The Debudantes
THE INTROVERTED and “weird” Kate makes an effort to befriend a group of girls, only one of whom becomes a friend — the rest bully her. After Kate experiences a nightmare, all five girls unexpectedly face a bloody curse. Directed by Prime Cruz, it stars Jane de Leon, Miles Ocampo, Sue Ramirez, Chanel Morales, and Michelle Vito.
MTRCB Rating: PG

Victoria and Abdul

Victoria and Abdul
DURING the later years of her rule, Great Britian’s Queen Victoria developed an unexpected friendship with Abdul Karim, an Indian functionary who traveled to Britian to present her with a ceremonial coin. They build a committed alliance despite the opposition of her actual court and heir, Edward VII. Directed by Stephen Frears, it stars Judi Dench, Ali Fazal, Eddie Izzard, and Adeel Akhtar. The film is based from Shrabani Basu’s book, Victoria & Abdul: The True Story of the Queen’s Closest Confidant. In an interview with TIME magazine, the author said: “This was a story [the British] were trying to erase. And it’s a very important story to tell.”
MTRCB Rating: PG

New Generation Heroes

New Generation Heroes
FOUR TEACHERS from different walks of life — a respected retiree, a pushcart educator, a widowed enterprising teacher, and an OFW English teacher — work hard to provide for their families. The film will be screened in selected cinemas in celebration of World Teacher’s Day (Oct. 5). Directed by Anthony Hernandez, it stars Aiko Melendez, Joyce Peñas Pilarsky, Jao Mapa, and Anita Linda.
MTRCB Rating: PG

From trams to trains?

During a visit to the magnificent city of Prague in the Czech Republic, I stumbled upon a startling piece of information that may provide a clue to the problems plaguing our own Metro Rail Transit Line 3 (MRT-3) plying Epifanio Delos Santos Avenue (EDSA), the country’s busiest thoroughfare.

The extensive tramway network of the Czech capital consists of 21 daytime routes that run between 4:30 AM and 1:00 AM the following day, and nine nighttime routes operating between midnight and 6:00 AM. Prague’s first electric tram line opened in 1891, using two-axle railcars. Since 1951, these railcars have been replaced by the Tatra tramcar series produced by the then Czechoslovakian company known as CKD Dopravny Systemy.

CKD was the very same firm that supplied the trains for Metro Manila’s MRT-3. The supply agreement was signed toward the tailend of the Ramos administration in 1997. Full operations started in 2000 during the Estrada administration, with a 16.9-kilometer single line traversing between Taft Avenue in Pasay City and North Avenue in Quezon City. A total of thirteen stations serve the National Capital Region’s commuters, with several stops in the cities of Makati and Mandaluyong.

Over the last decade and a half, MRT ridership has grown to more than half a million passengers daily. It has the characteristics of a light rail transit network especially because of the type of rolling stock used, but functions more like a rapid transit system due to its high passenger throughput and total grade separation.

I found out in Prague that CKD Dopravny Systemy is no longer in existence as a state-owned enterprise. It has since been acquired by Siemens Mobility of Germany and uses the brand name CKD Tatra, which still manufactures trams or streetcars.

In concept, a tram is similar to a train as it also runs on iron tracks. The difference is that trams run on rails that are on the same level as normal roads to which they are embedded. Filipinos are familiar with the trams of Hong Kong and San Francisco, which are mainly built to transport people between short distances.

Trams are lighter than trains and rarely transport cargo since they are designed to help commuters reach nearby destinations within city centers. On the other hand, trains cover long distances outside city limits and use their own tracks without any traffic since they do not occupy anyone else’s road space.

A reliable source told me that the MRT-3’s light rail vehicles were originally trams that had been converted into trains. Is this the reason they have been breaking down the past five years? Why did transportation officials in four previous administrations allow this to happen at the expense of the commuting public?

ON SOLID GROUND
A new advocacy group has been formed to address the Philippines’ housing backlog that is estimated to reach 10 million by 2030.

Known as the Solid Ground Advocacy Campaign (SGAC), its mission is to change policies, systems, and attitudes to ensure that every Filipino has access to land for shelter. The country’s poor are usually left behind despite the numerous housing projects being developed in the major urban areas.

SGAC’s working group is composed of representatives from the Housing and Urban Development Coordinating Council, the Presidential Commission for the Urban Poor, the Department of the Interior and Local Government, the Department of the Environment and Natural Resources, the Department of Public Works and Highways, and the National Housing Authority.

Spearheading this movement is Habitat for Humanity Philippines, which has been involved in building houses and working with communities for the longest time. Now it has decided to focus on asset formation in the belief that unlocking assets like land is key to solving the country’s housing problems.

J. Albert Gamboa is Chief Financial Officer of the Asian Center for Legal Excellence and serves as Co-Chairman of the FINEX Media Affairs Committee.

E.T. returns in new 35th anniversary limited edition

THIS YEAR marks the 35th anniversary of the release of director Steven Spielberg’s iconic sci-fi classic E.T. The Extra-Terrestrial, the unforgettable and emotional adventure of an adorable alien lost on Earth and the lonely boy who befriends him. Winner of four Academy Awards, including Best Music/Original Score for composer John Williams, E.T. The Extra-Terrestrial has become a cinematic touchstone for generations of moviegoers and one of the most beloved films of all time.

Now, Universal Pictures Home Entertainment celebrates the film’s original theatrical release with a special gift set, E.T. The Extra-Terrestrial 35th Anniversary Limited Edition on 4K Ultra HD + Blu-ray + Digital. This special gift set features premium packaging, includes a re-mastered CD soundtrack of the original Grammy Award-winning album, is packed with over three hours of bonus features and includes a collector’s booklet with behind-the-scenes stories and rare images from the archives. The 35th Anniversary Limited Edition retains all the excitement, drama and warm-hearted humor that made the film an instant worldwide classic.

Fans can also relive the adventure and magic of one of the most beloved motion pictures of all-time, with the 4K Ultra HD Combo Pack along with the new Blu-ray Combo Pack and DVD editions that showcase new artwork of the beloved cast. All releases include a code to redeem the film on digital, plus over three hours of bonus features. The bonus features on the Blu-ray and DVD including “The E.T. Journals,” where viewers can retrace the day-to-day experience of creating E.T. from behind-the-scenes footage shot by Academy Award-winning cinematographer John Toll; “Steven Spielberg & E.T.,” in which viewers can watch an interview with Steven Spielberg, as he reflects back on the film and discusses his experience working with the actors, as well as his overall and current perspective on E.T.“The Music of E.T.: A Discussion with John Williams,” showing interviews and footage focused on the long-standing relationship between the Oscar-winning composer and director Spielberg; “Designs, Photographs and Marketing of E.T.,” showing E.T. designs by production illustrator Ed Verreaux, E.T. designs by Carlo Rambaldi, the spaceship designs by Ralph McQuarrie and designs by Verreaux; production photographs; “Marketing E.T. A Look Back,” offering a special insider’s look into the making of E.T., featuring interviews with Spielberg, the cast, and others intimately involved with the film; “The E.T. Reunion,” where the cast and filmmaker reunite to discuss their thoughts on the impact of the film; “The 20th Anniversary Premiere,” a behind-the-scenes look at the composer Williams conducting the score of E.T. live at the Shrine Auditorium for the re-release premiere of E.T.;  deleted scenes and the theatrical trailer.

Join 10-year-old Elliot (Henry Thomas), his kid sister Gertie (Drew Barrymore), and older brother Michael (Robert MacNaughton) as they come together to help stranded alien E.T. find his way home. — Front Row Features

Stocks drop as investors pocket profit from rally

SHARES finished in negative territory on Thursday as investors took profit from the previous days’ rallies, where the main index hit fresh record highs.

The bellwether Philippine Stock Exchange index dropped 0.60% or 50.04 points to 8,294.01.

The broader all-shares index dropped 0.47% or 23.19 points to 4,884.65.

“It’s just profit taking because we reached a new high,” Summit Securities, Inc. President Harry G. Liu said in a phone interview on Thursday.

At this point, Mr. Liu said volume has not expanded enough and markets may start consolidating.

“Philippine markets flatlined finally after consecutive days of breaking records,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said in a mobile phone message.

“Some inflationary concerns were also raised as the September tally of 3.4% came above the 3.1% median estimates. This prompted further speculation of a rate hike by our BSP (Bangko Sentral ng Pilipinas) towards the end of the year. Although the Dow Jones Industrial Average and S&P 500 cling to positive territory, internal readings of the broader market of stocks have already turned negative,” Mr. Limlingan added.

The Philippine Statistics Authority reported yesterday that prices of widely used goods and services increased by 3.4% last month, jumping from 3.1% in August and the 2.3% logged a year ago. It settled higher than market expectations at 3.2%, but still well within the 2.8-3.6% forecast range given by the BSP last week.

“The BSP remains of the view that the inflation environment will continue to be manageable over the policy horizon after taking into account the latest assessment of price levels in September,” BSP Governor Nestor A. Espenilla, Jr. said in a statement.

Meanwhile, US stocks edged up to extend their run of record closing highs on Wednesday as data on the services sector added to signs of strength in the economy and prospects for earnings.

The Dow Jones Industrial Average rose 19.97 points or 0.09% to end at 22,661.64, the S&P 500 gained 3.16 points or 0.12% to 2,537.74 and the Nasdaq Composite added 2.91 points, or 0.04% to 6,534.63.

Sector counters were mostly down. Mining and oil plunged 2.18% or 304.48 points to 13,265.57; holding firms declined 0.94% or 80.16 points to 8,372.82; property went down 0.64% or 25.06 points to 3,884.31; and industrials dropped 0.09% or 11.05 points to 11,169.64.

Meanwhile, services rose 0.26% or 4.57 points to 1,751.65 and financials expanded by just 0.18 point to 2,002.91.

Losers outnumbered advancers at 106 to 90, while 50 issues remained unchanged.

Value turnover rose to P6.76 billion from Wednesday’s P6.55 billion as P1.25 billion shares changed hands.

Foreign outflows continued and netted at P41.96 million, although down from net selling of P426.39 million in the previous day. — J.C. Lim with Reuters

ADVERTISEMENT
ADVERTISEMENT