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MPIC unit eyes corn farm in Mindoro

METRO PACIFIC Investments Corp.’s (MPIC) agribusiness arm Metro Pacific Agro Ventures, Inc. (MPAV) is planning to put up a 3,000-hectare (ha) corn farm in Mindoro, its chairman said.

This initiative aims to support the company’s dairy business, MPIC Chairman, President, and Chief Executive Officer Manuel V. Pangilinan told reporters on Thursday last week.

MPAV also plans to increase its investment in dairy farms to bolster milk supply.

“For Carmen’s Best, we are running out of milk. So, we are looking to invest in other dairy farms; we are looking at least two more,” Mr. Pangilinan said.

MPAV conducts most of its dairy business through the Carmen’s Best ice cream brand.

MPIC has a partnership with the Carmen’s Best group, which includes Carmen’s Best Dairy Products, Inc., Carmen’s Best International Dairy Co., Inc., Real Fresh Dairy Farms, Inc., and The Laguna Creamery, Inc.

At the same time, Mr. Pangilinan said the group’s vegetable greenhouse facility in San Rafael, Bulacan, will begin operations by the fourth quarter of this year.

“The first phase is seven hectares, and we will proceed to double that in 2025,” he added.

The Bulacan facility aims to address the vegetable demand in the Greater Manila Area, Bulacan, and Tarlac.

MPAV has allocated P800 million to P1 billion for the greenhouse project, which is expected to produce approximately 1,600 metric tons of vegetables annually.

Mr. Pangilinan said that MPAV aims to strengthen its presence in the local agriculture sector by investing in other agriculture-related companies.

“We’re looking at several already, one is related to coconuts,” he added. “(Coconut) is a primary agri product in the country, so a great deal of its byproducts are exportable.”

MPAV recently finalized a deal to acquire a 34.76% stake in coconut product manufacturer Axelum Resources Corp.

MPIC is one of three key Philippine units of First Pacific, the others being Philex Mining Corp. and PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Adrian H. Halili

DEVCON visits LGUs, tech leaders in key cities ahead of Mindanao Summit

With the theme of “Weaving Tech for All,” DEVCON Mindanao Summit 2024 sets to be the region’s premier gathering of technology professionals, developers, and tech enthusiasts. The event will take place on June 29-30 in Davao City.

This summit will feature presentations and panels led by Mindanao’s best in technology and innovation. The summit will feature Mindanao’s best tech experts and case studies on the top industries such as healthcare, retail, agriculture, construction, and more.

To finalize preparations, the DEVCON team recently toured key Mindanao cities from March 1 to 11, engaging local tech leaders and ecosystem enablers, and local government units.

The DEVCON team received enthusiastic support across Mindanao both from academe, government, and industry to promote an open approach to inclusive innovation.

In Iligan, the DEVCON team went for a courtesy visit with Mayor Frederick “Freddie” Siao and had discussions with iDEYA: Center for Innovation and Technopreneurship, Iligan Medical Center College, and local government officials.

Representatives from Ingenuity, Mugna Tech, CODEV, Davao DEFI, Davao Interschool Computer Enthusiasts, and UPMin SPARCS gathered in Davao, coupled with discussions with government officers.

Meetings with aspiring DEVCON Chapter leaders and discussions with Central Mindanao University were held in Bukidnon; while partnership agreements with the Department of Information and Communications Technology Region 10 and a community dinner to connect with local tech leaders took place in Cagayan de Oro.

In addition, limited partnership and sponsorship slots are available for DEVCON Mindanao Summit 2024 as tech leaders like Accenture, CoDev, Talino Venture Studios, Internet Computer Protocol Hub, Ingenuity, Ever Accountable, IONA, Nuxify, and more are already supporting the event as sponsors. Interested brands who want to sponsor or organizations who want to partner can email peng@devcon.ph for more information.

Crossing over to electric: Lexus UX 300e

PHOTO FROM LEXUS

LEXUS PHILIPPINES quietly introduced in March another battery electric vehicle (BEV), which purveys the “innovative design, luxury features, and advanced safety” of the premium brand. The Lexus UX 300e is positioned as compact urban crossover said to deliver agile handling and maneuverability.

Its motor generates a maximum output of 204ps and 300Nm nearly instantaneously, with range from the 72.82-kWh lithium-ion battery rated at 560 kilometers. The battery fills up via AC charging in 10 hours, via DC charging in 80 minutes. The crossover receives a 13-speaker Mark Levinson sound system as standard equipment.

The UX 300e banners Lexus Safety Sense (LSS), a suite of active safety technologies supporting the driver, and reduce the risk and severity of a range of potential accidents. It includes dynamic radar cruise control, pre-collision system with pedestrian detection, lane keep assist with lane departure alert and steering assist, lane trace assist, road sign assist, automatic high beam, and adaptive high-beam system. It also receives three-beam LED headlamps, DRLs, and taillamps; voice recognition; wireless Apple CarPlay and Android Auto.

For added safety and convenience, the UX 300e comes with hill-start assist, vehicle stability control, and blind-spot monitor. A low center of gravity is created by an under-floor placement of the BEV battery pack that gives the UX 300e “a natural performance advantage.”

The UX 300e is priced at P3.898 million.

For more information, visit the Lexus Manila showroom or the Lexus website at lexus.com.ph. The Facebook and Instagram accounts of Lexus Philippines are (@lexusphilippines).

CA revokes biosafety permits for Golden Rice, Bt Eggplant

IRRI

THE Court of Appeals (CA) has revoked the biosafety permits for the commercial propagation of Golden Rice and Bt Eggplant, citing their potential risks to the environment and the health of consumers.

In a 143-page decision issued on April 17, the appellate court also stopped the field testing and use, as well as imports of, genetically modified organisms (GMO) until all measures have been to ensure they are safe.

The appellate court’s Fourth Division granted the privilege of the Writ of Kalikasan to the Magsasaka at Siyentipiko para sa Pag-unlad Agrikultura (MASIPAG), Greenpeace Southeast Asia – Philippines (Greenpeace), and others, “citing the constitutional right to health and maintaining environmental integrity.”

It also issued a cease and desist order, halting the commercial propagation of the Bt Eggplant and Golden Rice.

“Considering the unmistakable importance of the constitutional right to a balanced and healthful ecology, especially in these times, we remind the government of its eminent duty to assiduously protect said right,” according to the decision, written by Associate Justice Jennifer Joy C. Ong.

The appellate court found that the petitioners proved the adverse health and ecological effects of the Golden Rice and Bt eggplant projects are scientifically plausible but uncertain.

“Under the circumstances, applying the ‘precautionary principle,’ steps should be taken to avoid or diminish any possible adverse effect to health and ecology,” National Union of Peoples’ Lawyers President Ephraim B. Cortez said.

Mr. Cortez added that “once proof of compliance with safety, health, and legal requirements are submitted by concerned government agencies, the respondents may resume activities relative to the commercial propagation of Golden Rice and Bt Eggplant.”

“The conflicting scientific views (are) compounded by the lack of administrative monitoring  for which the regulators were unable to determine whether or not there were health and safety issues during the process,” he added.

The Supreme Court, sitting en banc, had granted the petitioners the Writ of Kalikasan, referring the case to the appellate court for “acceptance of the following returns on the Writ of Kalikasan, and for hearing reception of evidence, and rendition of judgment.”

MASIPAG, a coalition of farmers and scientists, requested a temporary environmental protection order against the DA to halt the commercial cultivation of Golden Rice and Bt Eggplant until evidence of safety and compliance with legal requirements is provided.

A Writ of Kalikasan is a legal recourse aimed at safeguarding individuals from environmental harm that jeopardizes life, health, or property across two or more municipalities. — Chloe Mari A. Hufana

Dior looks to Marlene Dietrich in New York fall show

REUTERS

NEW YORK — French fashion house Christian Dior unveiled a fall line inspired by actress Marlene Dietrich at a catwalk show in New York last week.

Nodding to Dietrich’s personal style, Dior designer Maria Grazia Chiuri dressed models in white shirts, sometimes with ties, pleated trousers and black blazers. (Watch the show here: Dior Fall 2024 Show (youtube.com))

Belted or cowl-neck dresses looked to 1940s silhouettes while some frocks sparkled with beading.

There were also nods to New York, with prints of the Statue of Liberty featuring on some designs. Others were adorned with depictions of the Eiffel Tower in Paris, where Dior is based.

Ms. Chiuri worked with artist Claire Fontaine on designing the show space, with pairs of illuminated hands adorning the catwalk’s backdrop.

“These hands represent positively and in an empowering way the female sex and they are the hands of the seamstresses, of the creators, myself, of Maria Grazia and the hands of the women that made this project possible,” Ms. Fontaine said in an interview.

Among the celebrities attending the show were actors Anya Taylor-Joy, Michelle Williams, Naomi Watts, Rosamund Pike, and Charlize Theron. — Reuters

Batanes in the time of COVID

JR PADLAN -UNSPLASH

COVID-19 is no longer a public health emergency nationally and internationally, but have we learned our lessons from this catastrophe? It goes without saying that we must learn our lessons, for the world will inevitably face another pandemic — it is just a matter of when.

One particular concern is learning local lessons. We have heard many stories on the ground, and it is important to document these stories and distill the lessons, which can also apply to other emergencies or catastrophes.

And here Batanes is a good case study: a remote island which is no stranger to calamities and whose people are known for resilience, self-reliance, and cooperation.

The province of Batanes is the northernmost point of the Philippines. The unique setting of Batanes, the smallest province with the smallest population in the Philippines, makes it prone to a variety of challenges, from unstable electricity and cell signal to insufficient water supply. Batanes’ isolation from the rest of the country has often posed problems for its locals.

It has been more than four years since the first case of COVID arrived in the Philippines. Batanes, however, didn’t record a single case until the end of September 2020. In May 2021, after counting 10 cases, the province was declared COVID-free. In the time of COVID, Batanes’ isolation (as well as the provincial government’s stringent quarantine measures) provided an advantage against the crisis that brought the rest of the country to a standstill.

While Ivatans obediently followed the safety measures, some farmers in Barangay Chanarian poked fun at mobility restrictions, such as the “no angkas” policy that prohibited even married couples who lived in the same home from riding the same motorcycle. Others complained that although they weren’t prevented from visiting their farms, they couldn’t leave their homes: they had to stay home to teach their children, sometimes doing their schoolwork for them.

During this time, parents, some of whom had never gone beyond high school, struggled to teach their children, a burden imposed upon them by the “modular” method of distance learning adopted by most public schools. While some argue that “modular learning,” where students are given worksheets to answer in place of in-person instruction, is more equitable than online classes since many public school students lack devices that connect to the internet, the lack of instruction prompted students to search online for answers anyway, causing those in remote and rural areas to struggle more than their urban counterparts. The return of face-to-face classes was met with relief by Ivatan parents, who said they could finally work on their farms and attend association meetings as they needed. The long-term effect of modular learning has yet to be measured, but one farmer says his children, like many others, will graduate grade six “na walang kaalam-alam” (knowing nothing).”

According to an association of mataw fishers, those who engage in traditional means of catching dorado and flying fish during the summer, mobility restrictions did not prevent them from going out to sea. They were, however, prohibited from selling the fish in the town proper, causing a steep drop in income. Until June 2021, when restrictions were loosened, their catch was limited to family consumption. Those who caught more fish than they could store in their freezers gave them away for free. Despite a successful fishing season, they had no income to buy essential goods, such as medicine and household supplies.

While restrictions eased up in mid-2021, the road to recovery was thwarted when, in September 2021, Typhoon Kiko hit Batanes, causing P358-million worth of damage to an already devastated economy. After the typhoon, people ventured out of their homes to look for food, causing a spike in COVID cases and the return of mobility restrictions. Crop production plummeted and many Ivatans suffered, especially families who depended on farming as a subsistence activity. In response to the devastation, locals invoked yaru, the Ivatan word for bayanihan (communal cooperation), when better-off members of the community butchered their own livestock to give away to more vulnerable individuals.

These coinciding disasters proved that provinces like Batanes have a more fraught pathway to recovery than other areas in the Philippines; while the entire country was set back by the pandemic, the devastation was not equal. The natural hazards that are endemic to Batanes compounded the effects of a nationwide health crisis.

Despite its vulnerability, the province struggles to attract funding from the national government: politicians at the national level see little incentive to assist a province with less than 10,000 voters. If this justification of institutional neglect prevails, Ivatans will be left to fend for themselves, with no one to depend on but each other. As the Philippines faces an accelerating climate crisis that is predicted to bring more diseases and typhoons, it is crucial to remember the Ivatans, as there will be a need to redistribute resources from those that have enough to those that have less.

 

Isabel Rodrigo conducted a study for the Samdhana Institute and Action for Economic Reforms on the pandemic’s impact on marginalized communities.

Treasury bill, bond rates may end mixed

RATES of Treasury bills (T-bills) and Treasury bonds (T-bonds) on offer this week could end mixed amid the peso’s continued weakness against the dollar.

The Bureau of the Treasury (BTr) on Monday will auction off P15 billion in T-bills, or P5 billion each in 91-, 182-, and 364-day papers.

On Tuesday, it will offer P30 billion in reissued 20-year T-bonds with a remaining life of 19 years and 10 months.

T-bill and T-bond rates could track the mixed movements in secondary market yields following the peso’s continued depreciation against the dollar, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

At the secondary market on Friday, the 91- and 182-day T-bills went up by 9.36 basis points (bp) and 8.35 bps and 4.57 bps week on week to end at 5.8663% and 5.9804%, respectively, based on PHP Bloomberg Valuation Service Reference Rates data published on the Philippine Dealing System’s website.

Meanwhile, the yield on the 364-day T-bill went down by 1.7 bps to end at 6.0344%.

The 20-year bond also inched down by 0.31 bp week on week to close at 6.799%.

On Friday, the peso closed at P57.65 per dollar, depreciating by 46 centavos from its P57.19 finish on Thursday, Bankers Association of the Philippines data showed. 

This was the peso’s worst finish since its P58.19-per-dollar close on Nov. 10, 2022.

Year to date, the local unit has depreciated by P2.28 from its P55.37 finish on Dec. 29, 2023.

Mr. Ricafort said the peso sank due to renewed tensions between Israel and Iran.

Meanwhile, the 20-year T-bond’s rate could end at 7% to 7.25%, with bids likely to be rejected as the market continues to be pressured by a hawkish US Federal Reserve, a trader said in an e-mail.

Top US central bank officials including Federal Reserve Chair Jerome H. Powell backed away on Tuesday from providing any guidance on when interest rates may be cut, saying instead that monetary policy needs to be restrictive for longer and further dashing investors’ hopes for meaningful reductions in borrowing costs this year, Reuters reported.

Fed policy makers have said since the start of the year that rate cuts are contingent on gaining “greater confidence” that inflation is moving towards the central bank’s 2% goal, but readings over the past few months show price pressures may even be moving in the opposite direction.

“The recent data have clearly not given us greater confidence and instead indicate that it’s likely to take longer than expected to achieve that confidence,” Mr. Powell told a forum in Washington, in what is likely to be his last public appearance before the April 30-May 1 policy meeting.

US central bankers are universally expected to leave rates unchanged at their upcoming meeting, but until early this month analysts and investors thought rate cuts would likely start with an initial quarter-percentage-point reduction at the Fed’s June 11-12 meeting, with two more cuts happening by the end of 2024.

The first rate cut is expected in September and the odds of a second cut are dwindling.

“If higher inflation does persist, we can maintain the current level of restriction for as long as needed,” Mr. Powell said. “At the same time, we have significant space to ease should the labor market unexpectedly weaken.”

In separate remarks earlier on Tuesday, Fed Vice Chair Philip Jefferson omitted any mention of rate cuts, and said the US central bank was ready to keep its tight monetary policy in place “for longer” if inflation fails to slow as expected.

In his last public remarks, on Feb. 22, Mr. Jefferson included what had been a staple of recent Fed communications – that “if the economy evolves broadly as expected, it will likely be appropriate to begin dialing back our policy restraint later this year,” a nod to the possibility of reducing the Fed’s benchmark overnight interest rate from the current 5.25%-5.5% range to account for a slowing pace of price increases.

Last week, the BTr raised P15 billion as planned from the T-bills it offered as total bids reached P39.831 billion or more than twice the amount on the auction block.

Broken down, the BTr borrowed P5 billion as programmed from the 91-day T-bills as tenders for the tenor reached P10.939 billion. The average rate for the three-month paper rose by 9.8 bps to 5.87% from the previous week. Accepted rates ranged from 5.824% to 5.895%.

The government likewise made a full P5-billion award of the 182-day securities, with bids reaching P13.632 billion. The average rate for the six-month T-bill stood at 5.973%, up by 8.8 bps, with accepted rates at 5.9% to 5.99%.

Lastly, the Treasury raised P5 billion as planned via the 364-day debt papers as demand for the tenor totaled P15.26 billion. The average rate of the one-year debt went up by 6.1 bps to 6.044%. Accepted yields were from 6.025% to 6.064%.

Meanwhile, the reissued 20-year bonds to be auctioned off on Tuesday were last offered on March 19, where the government made a full P30-billion award of the papers at an average rate of 6.189%, 6.1 bps below the 6.25% coupon for the series.

The Treasury plans to raise P195 billion from the domestic market this month or P75 billion from T-bills and P120 billion via T-bonds.

The government borrows from local and foreign sources to help fund its P1.48-trillion budget deficit, which is capped at 5.6% of gross domestic product for this year. — A.M.C. Sy with Reuters

SEC files criminal complaint versus MFT Group, Foundry Ventures

THE Securities and Exchange Commission (SEC) has filed a criminal complaint against Maria Francesca Tan (MFT) Group of Companies, Inc. and Foundry Ventures I, Inc. for allegedly engaging in illegal investment activities.

The complaint was filed with the Department of Justice (DoJ) on April 5, citing violations of Sections 8, 26, and 28 of Republic Act No. 8799, also known as The Securities Regulation Code (SRC), in relation to Section 6 of Republic Act No. 10175, the Cybercrime Prevention Act, the SEC said in a statement over the weekend.

The SEC also charged MFT Group and Foundry Ventures with violations of Section 54.1 in relation to Section 54.2 of the SRC and Section 177 of Republic Act No. 11232, the Revised Corporation Code, and SRC Rule 68, in connection with material misrepresentations in their audited financial statements (AFS).

“The filing of the criminal case stemmed from complaints submitted by several investors who participated in the investment scheme of the MFT Group, which later transitioned to Foundry Ventures,” the SEC said.

 “The MFT Group allegedly promised guaranteed returns ranging from 12% to 18% of the amount they invested, which was considered as interest income. The scheme was perpetuated through the issuance of postdated checks reflecting a 1% to 1.5% monthly interest to interested investors, who were given either a promissory note or borrower-lender agreement, as proof of their investment,” the SEC added.

The SEC said that Isla Lipana & Co. was also implicated in the complaint, as it served as the independent auditor of the MFT Group and Foundry Ventures for the fiscal years 2018 to 2021.

“In relation to the misrepresentations in the MFT Group’s FS, the SEC found that Isla Lipana colluded with the MFT Group in their fraudulent activities by making it appear that the financial statements of the company were fairly presented despite inconsistencies and inaccuracies in the AFS,” the SEC said.

“Isla Lipana issued an unqualified opinion for the years 2020 and 2021, indicating that the AFS of the MFT Group are fairly presented in all material respects and in accordance with the identified financial reporting framework,” it added.

The commission previously issued a cease-and-desist order against MFT Group and Foundry Ventures. The order was made permanent on April 1.

“We welcome the opportunity to clear our names and are hopeful that the DoJ will exonerate us. From the very beginning, we were never shown a copy of the alleged complaints and it is only now that the SEC produced the alleged complaints for the DoJ,” MFT Group said in a statement.

“Consequently,  we have confirmed that the complaints were spearheaded by personalities we have previously identified as the ones responsible for an online smear campaign and who have ulterior motives to fabricate charges. These are the same personalities we have previously sued for damages,” it added.

Also sought for comment, Isla Lipana said: “We received a copy of the complaint on 19 April 2024.”

“‘Maria Francesca Tan (MFT) Group of Companies, Inc.’ is our audit client. While the name of the company we audit bears ‘Group of Companies,’ we are auditing that company as a stand-alone entity and we are not the auditors of any other company within the group, or the group in general,” it added. 

“The last report we have issued for the standalone company was for the year ended 31 December 2021. We have not yet issued our report for the calendar years 2022 and 2023 pending completion of our audit procedures. We shall fully cooperate with the pending investigation,” it also said. — Revin Mikhael Ochave

Startup fund-raising journey to be explored at La French Tech Manila event on April 25

La French Tech Manila invites aspiring entrepreneurs and established startups to an evening exploring the intricacies of the startup fund-raising journey.

On its Facebook page, La French Tech Manila announced that it will hold a panel discussion themed “Navigating the Startup Fundraising Journey” on April 25, 6:30 p.m. at Seltsam in Legazpi Village, Makati City.

The panel will consist of seasoned veterans in the startup ecosystem who will share their invaluable insights, strategies, and firsthand experiences to guide you through the maze of fund raising.

The speakers include Frederic Levy, chief executive officer (CEO) of social commerce platform TOKIi; Carl Garcia, vice-president of Rocket Equities; Joseph de Leon, founding member of the Manila Angel Investors Network; and Priya Thachadi, founder of Unlock Impact and CEO of Villgro Philippines. The discussion will be moderated by Amanda Cua, CEO of content and community platform BackScoop.

Aside from the discussions, the event will also open networking opportunities to connect attendees with like-minded individuals, industry experts, and potential investors.

This event is co-presented by the French Chamber of Commerce and Industry in the Philippines, iScale Solutions, Inc, and Proseso Consulting.

Those who want to attend may secure their spot by registering at https://lu.ma/event-startup-fundraising.

Isuzu renews partnership with PHL Rallycross Series

Flanking an Isuzu D-Max are (from left) champion rally driver Driver Louie Camacho, Isuzu Philippines Corp. Assistant Division Head for Sales Robert Carlos, and Philippine Rallycross Series Directors Olson Camacho and Ronnie Trinidad. — PHOTO FROM ISUZU PHILIPPINES CORP.

ISUZU PHILIPPINES CORP. (IPC) announced the renewal of its partnership with the 2024 Philippine Rallycross Series. This partnership, which began in 2021, has been “a pivotal part of IPC’s engagement with motorsports, particularly rallycross, where the Isuzu D-Max has showcased its superior power and performance,” the company said in a release.

The Philippine Rallycross Series is sanctioned by the Automobile Association Philippines (AAP), and “provides a platform for rallycross drivers and enthusiasts to showcase their skills and test their vehicles’ performance on challenging dirt tracks.”

IPC Assistant Division Head for Sales Robert Carlos said, “Our renewed partnership with the Philippine Rallycross Series is a testament to Isuzu’s belief in the power and passion of Philippine motorsport. Showcasing our champion Isuzu D-Max, which has triumphed in its category for two years running, we celebrate the relentless spirit of those who dare to push the limits.”

The Isuzu D-Max is known for its “robust performance in rallycross.” It is powered by a robust 4JJ3 Blue Power diesel engine delivering 190ps of maximum power and 450Nm of torque. It boasts a suspension system “engineered to conquer the rigors of rallycross tracks.”

Champion rally driver Louie Camacho, who will be behind the wheel of the D-Max, expressed his admiration for the vehicle: “The performance of the D-Max on the rallycross track is phenomenal. Its unrivaled power, precision control, and superior suspension allow for an exhilarating driving experience that truly stands out,” he said.

Australia pushing farm chemicals regulator reforms

REUTERS

CANBERRA — The Australian government will push the country’s farm chemicals regulator to improve the quality and integrity of its decision-making and reduce its focus on approving pesticides at a consistent pace, it said.

A review of the Australian Pesticides and Veterinary Medicines Authority (APVMA) last year questioned its corporate culture and standard of oversight, suggesting it may have been too accommodating of industry interests.

However, farm and industry groups say turmoil at the regulator due to the review and government reaction to it has resulted in the APVMA taking too long to approve new products and that this is leading to preventable crop losses worth billions of dollars.

Agriculture Minister Murray Watt said that under previous governments, the regulator had a disproportionate focus on approving chemicals within statutory time frames and not enough attention was paid to compliance and enforcement.

He said the APVMA should take a more balanced approach that would elevate environmental and public health considerations, stakeholder engagement and compliance alongside time frames.

“We want to ensure that we have the world’s best chemical regulator, so that consumers and our overseas customers can have confidence in the food and fiber we produce,” Mr. Watt said. “At the same time, the APVMA needs to be structured so that it can independently and efficiently approve new, safe chemicals that help farmers do their job.”

The agriculture ministry said the APVMA would not be moved back to Canberra, the capital. Its removal to the regional town of Armidale in 2019 caused huge staff turnover that damaged its performance, the review of the regulator found.

The review was sparked by accusations that a senior staff member urinated on colleagues at a staff Christmas party in 2021. The APVMA’s CEO and board chair both resigned last year. — Reuters

Taylor Swift surprises with second Tortured Poets Department album

AMAZON.COM

LOS ANGELES — Taylor Swift surprised fans with her new record The Tortured Poets Department on Friday, revealing it was a double album featuring songs about heartbreak and a period described as “the saddest story” of the singer’s life.

Ms. Swift’s 11th studio album, featuring 16 tracks, was released at midnight EDT. Two hours later she revealed a second installment with 15 more songs.

“I’d written so much tortured poetry in the past 2 years and wanted to share it all with you,” Ms. Swift wrote on Instagram.

The Tortured Poets Department came 18 months after 2022’s Midnights.

Spotify said Poets broke the record for the platform’s most-streamed album in a single day this year, achieving the feat in less than 12 hours.

Ms. Swift, 34, has been setting music industry milestones and boosting local economies with The Eras Tour, which resumes in Paris in May.

Time magazine named Ms. Swift its 2023 Person of the Year, citing her musical accomplishments and influence on everything from pop culture to voter registration.

A description of Poets on Instagram said it was “an anthology of new works that reflect events, opinions and sentiments from a fleeting and fatalistic moment in time — one that was both sensational and sorrowful in equal measure.”

“This period of the author’s life is now over, the chapter closed and boarded up,” it added.

“There is nothing to avenge, no scores to settle once wounds have healed. And upon further reflection, a good number of them turned out to be self-inflicted.”

The post also suggested that Ms. Swift used the writing process to heal.

“This writer is of the firm belief that our tears become holy in the form of ink on a page. Once we have spoken our saddest story, we can be free of it,” it said.

The Instagram post did not say which events Swift was referring to. Fans have speculated she was writing about her relationship with British actor Joe Alwyn. The pair split in April 2023 after six years of dating.

A representative for Mr. Alwyn could not immediately be reached for comment.

Ms. Swift is among several of music’s top female artists releasing albums in what is being called “Pop Girl Spring.” Beyonce’s Cowboy Carter debuted in March. Dua Lipa and Billie Eilish have releases scheduled for May.

Reviews of Poets were mostly positive, with Rolling Stone calling the music “wildly ambitious and gloriously chaotic.” Billboard said the album was “extreme in its emotions and uninterested in traditional hits; not everyone will love it, but the ones who get it will adore it fiercely.”

Other critics were not as impressed. Britain’s NME described it as “surprisingly flat and, at times, cringeworthy.”

‘THE MOST HONEST’
Fans dissected each tidbit of the new album, even noting that avowed cat lover Ms. Swift chose to release it on National Cat Lady Day.

Anne Most, a Taylor Swift fan who lives in Los Angeles, said Poets felt like a crossover between the pop album Midnights and the folk record Folklore.

“Lyrically it’s the most honest Taylor’s ever been, and it makes your heart hurt for what she went through,” Ms. Most said, adding, “Has anyone checked on Joe?”

Many Swifties, as her fans are called, said they stayed up late into the night to stream the songs. “I’m only a couple of songs in and I’m obsessed. Thank you Taylor,” a fan who identified herself as Nikki wrote on Ms. Swift’s X account.

Others headed to record stores to buy CD or vinyl versions.

Mike Batt, 59, co-owner of Silver Platters record store in Seattle, said he had a rush of customers seeking The Tortured Poets Department when he opened in the morning.

“The thing with Taylor is it’s not just a flash in the pan type of thing,” Mr. Batt said. “She has reinvented herself from the country artist that she started out, to the singer songwriter that she is today, and more of a pop artist than a country artist.

“And everything about it, from her embracing her fans and making them feel special, it’s reciprocated,” Mr. Batt added. — Reuters

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