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Ballerinas, hip-hop artists, and folk dancers get together to bust a move for Int’l Dance Day

MEMBERS of Airdance, the Ramon Obusan Folkloric Group, Galaw Company Dance Theater, and Ballet Manila came together for a preview of the International Dance Day Festival. — BRONTË H. LACSAMANA

OVER 500 dancers will take to the stage in a week-long celebration of International Dance Day (IDD) in Makati. The Samsung Performing Arts Theater will be hosting the 1st IDD Festival on April 24 to 28 in Circuit, Makati.

The festival aims to represent “a kaleidoscope of genres, from folkloric traditions to urban beats, classical elegance, and contemporary styles — plus an engaging workshop focused on dance in film,” Samsung Performing Arts Theater managing director Christopher Mohnani said at an April 11 press conference and preview at the JZA Hall in Circuit, Makati. “The idea really is to galvanize audiences through dance.”

The theme, “Dance for All,” highlights how the various performances will showcase the art of movement and music. IDD, which is held every year on April 29, was started in 1982 by the Dance Committee of the International Theater Institute-UNESCO as a tribute to French ballet master Jean-Georges Noverre. Now, it makes its way to the Philippines by tapping over 500 artists to represent the best of local dance talent from various genres during the weeklong festival.

“There’s post-pandemic revenge theater watching now. There are so many productions all at the same time, and all of them are selling out. There is no reason that can’t happen for dance,” Mr. Mohnani said, noting that Filipino dancers and choreographers are fantastic and deserve to be seen more.

FOLK DANCE
On April 25, a tapestry of Filipino folk dance will be unveiled. This includes the graceful dance “Bungad,” choreographed by Nicole Primero of Airdance and performed by Carlos Deriada, Jr.

The Ramon Obusan Folkloric Group will also present “Pindulas” that day. It is a portrayal of courtship rituals of Basilan’s Yakan indigenous people. The dance is known for its languorous “broken arm” movements and Indian influences.

Other groups gracing the stage that day are Bayanihan, The National Folk Dance Company, the UST Salinggawi Dance Troupe, The Kalilayan Folkloric Group, and the PNU Kislap Sining Dance Troupe.

HIP-HOP
On April 26, it will be hip-hop’s turn to dance to the rhythm. The featured street dance crews are UPeepz, Sayawatha, The Crew, Junior Electro Groovers, Mixed Nuts, TPM (Team Package Makers), Femme MNL, Dancehall Manila, and VPeepz.

Fans of this genre will have something to look forward to since each of the groups will be debuting completely new choreographies.

“That’s why the street dance gala is not here at the preview, because they’re still coming up with their numbers,” Mr. Mohnani told BusinessWorld.

BALLET
The ballet segment on April 27 will be special as it brings together the biggest ballet companies in the Philippines for the first time in eight years.

“We were able to do this a long time ago through DANCE MNL, organized by Paul Morales of Ballet Philippines. We all got together and did Giselle and it was a great initiative,” Ballet Manila artistic director Lisa Macuja-Elizalde, speaking at the press conference, said of the event eight years ago.

“I feel that International Dance Day Fest is taking a step way above that because this is including everybody else,” she added.

Mr. Mohnani said that Ballet Manila will grace the stage with a pas de deux, Alice Reyes Dance Philippines will do a contemporary piece, Philippine Ballet Theater will perform a tried-and-tested Filipino dance combining folk and ballet, and Ballet Philippines will perform a modern theatrical dance.

Other companies which will perform at the ballet gala are the Hong Kong Ballet, the Steps Dance Project, the Association of Ballet Academies in the Philippines, the Hope Dance Academy Philippines, and the Halili Cruz School of Dance.

CONTEMPORARY DANCE
On April 28, it is contemporary dance’s turn with Galaw Co. Dance Theater’s piece “Tahan Na,” directed and choreographed by PJ Rebullida and performed by Abby Bonifacio, as one of the dances.

The Contemporary Dance Network Philippines is bringing together the showcase that day that includes Myra Beltran’s Dance Forum, the University of the Philippines Dance Company, the Guang Ming College, Airdance, Nude Floor, Nunoy Revlon, the Daloy Dance Company, and the Hiraya Dance Company.

For Myra Beltran, one of the foremost contemporary choreographers in the country, revisiting old works is a major event, especially after the pandemic.

“This is the first big coming together. It was really difficult for many dancers during the pandemic, just working out in the studio and via Zoom, and there were a lot of mental health issues,” she said at the press conference.

“Now is the time to reiterate dance as a healing art,” she added.

The IDD Fest will culminate with a Dance in Film workshop led by Fifth Wall, a “revolutionary movement platform” founded by dance artist Madge Reyes.

All performances will be at 7:30 p.m. Tickets to the various performances and workshops are available via TicketWorld. — Brontë H. Lacsamana

AbaCore says income jumps 20% to P2.4 billion

FREEPIK

LISTED holding company AbaCore Capital Holdings, Inc. on Tuesday said its net income improved by 20% to P2.4 billion in 2023 from P2 billion in 2022, led by gains from land assets.

“The growth in income can be primarily attributed to an increase in its recorded gains of revaluation, which grew on a year-over-year basis to P2.6 billion from P1.9 billion. This includes acquisition by the company of additional land assets at below market value,” AbaCore said in an e-mailed statement.

AbaCore saw a 5.7% decline in its gross income to P459.4 million from P487.2 million in 2022, attributed to the company’s shift in policy towards developing its own projects to secure a more stable source of recurring income, as opposed to its previous focus on selling investment properties.

The company’s gross income comprised gains of P374.9 million from investment properties sold in Batangas and other provinces, a gain of P75.8 million from the sale of shares in Montemaria Shrine in Batangas, and dividend income of P6.3 million from subsidiaries Pacific Online Systems Corp. (LOTO) and Pride Star Development Bank.

“AbaCore’s financial results for 2023 reflect the company’s success in leveraging its strengths and by partnering with entities who can maximize the capabilities of our assets,” AbaCore Vice-Chairman Antonio Victoriano F. Gregorio III said.

“We also expect our long-term strategic change of developing more projects on our own to bolster our future financial results as it would allow us to be more aggressive with our expansion and growth plans,” he added.

AbaCore aims to continue its planned projects, such as the development of the Montemaria Shrine as a lifestyle destination, and to sell off its investment properties to boost revenue.

The company also continues to maintain an agreement with Oriental Vision Mining Philippines Corp. to monetize its coal assets in Surigao del Sur, while LOTO has an agreement with the Philippine Charity Sweepstakes Office to develop an online lottery platform.

“Moving forward into 2024 and beyond, AbaCore will continue pursuing a long-term strategy of diversifying revenue and income sources. This includes the ongoing development of Montemaria Shrine — with the addition of facilities such as a water park, glass walkway, and a hotel — and implementing our existing business partnerships,” Mr. Gregorio said.

“We will also continue making strategic investments into our property bank and working with local and foreign venture entities to maximize the financial potential of our assets,” he added.

AbaCore is a holding company with interests in various sectors such as real estate, tourism, finance, and mining.

On Tuesday, AbaCore shares fell by 5.41% or six centavos to P1.05 per share. — Revin Mikhael D. Ochave

Pop culture nostalgia reborn

Sam Concepcion and Anna Luna as Popoy and Basha. — BRONTË H. LACSAMANA

By Brontë H. Lacsamana, Reporter

Theater Review
One More Chance, the Musical
Presented by the Philippine Educational Theater Association (PETA)

ONE MORE CHANCE is a 2007 Filipino film that follows the travails of Popoy and Basha, who find themselves in a rocky relationship. For many, their breakup is a bedrock of Pinoy pop culture, quoting lines or making memes out of them, from Popoy’s heartbreaking “She had me at my worst. You had me at my best,” to Basha’s iconic “Sana ako pa rin, ako na lang, ako na lang ulit!” (If only it was still me, me instead, me again!)

Those who loved the dramatic, hugot-filled film now range from their mid-20s to mid-40s, and its return in a different medium — theater — has captured their imaginations once more.

The latest production of the Philippine Educational Theater Association (PETA), One More Chance, the Musical, is a clear love letter to the legacy left by the movie. The three-hour play expounds on its narrative by providing angles to the original story that weren’t obvious in the film, giving voices to many of the side characters, and setting the mood with the songs of arguably the biggest Filipino pop band today, Ben&Ben.

The musical follows a couple — Popoy, an engineer, and Basha, an architect — who plan to get married in a year but quickly falter under the weight of glaring relationship issues. Popoy is controlling and unable to listen, while Basha has allowed her freedom to be stifled in the name of love. They break up, and yet are unable to stop from crossing paths due to close ties with their shared barkada (friend’s group) and a promise made to an aunt to help build her dream house.

Sam Concepcion and Anna Luna have big shoes to fill. On press night, they played the central couple, originally brought to life in the movie by John Lloyd Cruz and Bea Alonzo. Impressively, they fill those shoes and more, taking the emotional beats of the characters to a whole other level. Concepcion has a similar look to the original Popoy, but his facial and body reactions heighten his complicated personality very well. Luna has her own earnest, vulnerable take on Basha, making her extremely easy to root for.

The play progresses with not much deviation from the film, with the recreations of the scenes instead taking new life through the creative direction of Maribel Legarda, the adapted script by Michelle Ngu-Nario, and the production design by Ohm David.

A large rotating platform in the center of the stage allowed for fluid movement as characters either danced together or sang alone in contemplation. The main set piece is metal scaffolding that can be split into parts with stairs on either end, sometimes stressful to look at, fearing for the actors performing on the second level, but which was a dynamic use of space.

Since some of Popoy and Basha’s arguments, reunions, and tense moments (alone, or with Popoy’s fleeting rebound girlfriend Tricia) take place in a car, a unique prop is the skeletal, battery-operated car that actually moves. However, it malfunctioned on press night, which director Ms. Legarda said afterwards was the only time it had done so since they had it built.

The Thursday barkada are a pleasant surprise to watch, since they weren’t fleshed out as characters in the movie, only serving their role as friends. In the musical, they have their own hopes, dreams, struggles, and motivations. The calm, blind friend Kenneth (played by Poppert Bernadas) and the motherly friend Krizzy (Rica Laguardia) are just as inspiring a couple as the original, yet they have their own unique presence onstage.

Via Antonio as Anj, the friend closest to Basha, had different dimensions — comic relief, voice of reason, and a secretly heartbroken woman. Jon Abella as JP, the friend everyone thinks is gay, turns out to be just a hopeless romantic harboring an unrequited love for Krizzy. Johnie Moran as Chinno was more than just loyal; he got an arc of heartbreak similar to Popoy’s.

PETA productions always adapt old material for modern audiences well, and One More Chance, the Musical is no different. The 2007 film did not have smartphones, video conference calls, terms for toxic behavior (“red flags,” which Popoy had many), and faux Korean aunties riding on the wave of hallyu (shoutout to the hilarious Neomi Gonzales who played this minor role to perfection). Here, all these details and nuances fill out the world with ease.

THE RIGHT MUSIC
Popoy and Basha’s story was ultimately elevated by the 23 Ben&Ben songs integrated into the play. Though they were picked from the band’s growing discography and not written specifically for the story, musical director Myke Salomon did a great job with his selection.

Perhaps the synergy lies in the fact that Ben&Ben’s music captures the Filipino penchant for drama, emotion, and hugot that already permeates the story of Popoy and Basha. One must admit it makes a great union of pop culture, whether you’re a fan of both, or just one, or neither.

“Maybe the Night” fit the flirting scene it was placed in, while “Magpahinga” was a poignant choice for Basha’s mom in the scene where she comforts her daughter. JP’s pining after married friend Krizzy was set to the track of “Pagtingin,” whereas Chinno’s destructive heartbreak was given an apt song in “Leaves.”

However, the standout match-ups are “Sa Susunod na Habang Buhay,” which embodies the longing between Popoy and Basha as they grieve the relationship they could not fix; and the hit song “Kathang Isip,” sung so beautifully by Sheena Belarmino’s Tricia in a scene where she is scorned by being Popoy’s rebound.

Ms. Legarda told BusinessWorld on the press night that neither the movie nor the band’s music are influential to her generation, so her approach as a director was to surround herself with people who admired both, this allowed her to see the beauty in their perfect union. The result speaks for itself.

One More Chance, the Musical stands on its own by paying tribute to the original movie while adding new elements of its own. People may take joy in immersing themselves in a story told differently, 17 years after the first time, nostalgia reborn in a unique way that goes beyond watching the film yet again.

One More Chance, the Musical runs until June 30 at PETA Theater Center in New Manila, Quezon City. Tickets for all 50 shows were sold out well before opening night on April 12. One can hope that like PETA’s extremely popular jukebox musical Rak of Aegis which had multiple runs, One More Chance will return to the stage to give more people one more chance to watch it.

MPTC unit offers to buy gov’t stake in Cavitex

CAVITEX.PH

CAVITEX Infrastructure Corp. (CIC), a unit of Metro Pacific Tollways Corp. (MPTC), aims to acquire the government’s residual shares in the Manila-Cavite Expressway (Cavitex), its president said on Tuesday.

“It was a surprise to me that despite privatization, some operations and maintenance are still handled by the government,” MPTC President and Chief Executive Officer Rogelio L. Singson said during a virtual briefing.

This follows a case filed by a unit of the Philippine Reclamation Authority (PRA) before the appellate court to take over toll road operations.

Under the Public Estates Authority Tollway Corp.’s (PEATC) petition dated April 8, the PRA unit is asking the Court of Appeals to operate, maintain, and collect toll fees over Cavitex. PEATC is a non-chartered government-owned and -controlled corporation (GOCC).

“We are open to full privatization by acquiring whatever residual value or estimates they have in terms of their projects. Ultimately, it reverts back to the government,” Mr. Singson said, adding that the company is actively discussing the possibility of acquiring PEATC’s share.

“I understand there are some initial discussions. We have already been open; we have included this as a topic of discussion.”

Mr. Singson said that under the joint venture agreement, CIC’s role is the design, financing, and construction of the Manila-Cavite toll expressway project covering a total of 23.8 kilometers.

The joint venture agreement spells out a revenue-sharing model of 90:10, with CIC receiving 90%, and the remainder going to PEATC.

Mr. Singson also said that the operations and maintenance model for Cavitex is different, as the government handles operations and maintenance while CIC provides the operating expenses (OPEX).

“On the NLEX (North Luzon Expressway) and other concessions, it is run by the private sector,” he said.

Mr. Singson said the company is seeking a public–private partnership (PPP) model for the project, offering P2.5 billion to take over the government’s residual interest and also offering to take over toll road operations.

“That is our intention, to follow the spirit of PPP. Apparently, we have submitted over four times in the past,” he said.

MPTC is the tollways unit of Metro Pacific Investments Corp., one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., 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. — Ashley Erika O. Jose

Financial system resources grow by 8% as of Feb.

REUTERS

THE TOTAL RESOURCES of the Philippine financial system reached P30.869 trillion as of end-February, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed.

Resources of banks and nonbank financial institutions rose by 8% from P28.583 trillion in the same period a year ago.

Month on month, resources grew by 0.5% from P30.718 trillion as of end-January.

These resources include funds and assets such as deposits, capital, as well as bonds or debt securities.

Data from the central bank showed resources of banks increased by 9.5% to P25.752 trillion as of end-February from P23.526 trillion in the comparable year-ago period.

Broken down, total resources held by universal and commercial banks went up by 9.2% to P24.141 trillion as of February from P22.112 trillion a year prior.

Resources of thrift banks reached P1.09 trillion, higher by 7.7% from P1.012 trillion at end-February 2023.

Meanwhile, digital banks’ resources stood at P95 billion as of February. The BSP only started collecting data from digital lenders from March 2023 onwards.

There was no updated data for rural and cooperative banks, which held P426 billion resources as of end-September 2023.

Meanwhile, the resources of nonbank financial institutions was recorded at P5.117 trillion at end-September 2023.

Nonbanks include investment houses, finance companies, security dealers, pawnshops and lending companies.

Institutions such as nonstock savings and loan associations, credit card companies, private insurance firms, the Social Security System and the Government Service Insurance System are also considered nonbank financial institutions.

“The continued growth in financial resources, especially by banks, may be attributed to the continued growth in earnings, being among the most profitable industries in the country for many years despite and defying the COVID pandemic and other economic challenges in recent years,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

He noted that profit growth rates in the banking industry have been mostly faster than gross domestic product (GDP) expansion.

“Thus, the capitalization of Philippine banks continued to grow amid hefty earnings as well as some local and foreign investments in recent years, resulting to much higher capital adequacy ratio compared to the minimum set by local and global regulators,” he added.

Most banks posted higher net earnings last year, with some even booking record-high profits boosted by elevated interest rates.

Meanwhile, Philippine GDP grew by 5.5% last year, slower than the 7.6% expansion in 2022 and short of the government’s 6-7% target. It was the weakest growth since 2020 when GDP contracted by 9.5% amid the strict lockdown. — Luisa Maria Jacinta C. Jocson

Creating immersive customer journeys with Samsung

(L-R) Department of Science and Technology (DoST) Undersecretary Maridon O. Sahagun, Samsung Electronics Philippines Corp. (SEPCO) President Min Su Chu, Department of Information and Communications Technology (DICT) Sec. Ivan John E. Uy, Roxas City Mayor Ronnie T. Dadivas, and Bases Conversion and Development Authority (BCDA) President Engr. Joshua Bingcang support the nation-building agenda of strengthening private and government organizations during Samsung’s first business expo in the country.

The Philippines, where cities are bustling with malls, is a shopping haven, bringing Filipinos vibrant and diverse retail experiences from both local and international brands. Whether done in a physical store or online, shopping is a big deal for Filipinos.

Nonetheless, physical stores are still a go-to for most shoppers, despite the rise of e-commerce platforms. Today, with digital innovations, the whole in-store shopping experience is now more advanced than ever.

For businesses, digital innovation is buzzing, and rightfully so. With most customers living their lives in the digital world, businesses must be present with them as well in the same digital space.

Samsung Electronics Co., Ltd., a multinational electronics and information technology company, is bringing digital innovation to life to support businesses and deliver a more powerful and connected experience.

At its recent business expo, with the theme “Innovations That Power Solutions,” Samsung featured its latest retail innovations tailored to improve customer interactions in retail spaces.

With the goal of shaping the future with transformative ideas and technologies, Samsung’s display solutions are a game-changer for businesses.

These state-of-the-art technologies include The Frame TV, which turns the TV into a canvas, showing beautiful artworks that perfectly complement the retail setting. With its modern features, businesses and retail stores can use The Frame to exhibit products, promotions, and other offerings, as well as enhance the visual allure of storefronts, effortlessly drawing in customers.

Samsung redefines the customer experience in retail environments, showcasing its innovation through The Frame TV, Self-Ordering Kiosk, Business TV, and Knox Security-equipped Galaxy Devices, as exhibited at the Samsung Digital City.

Meanwhile, for small businesses, Samsung’s Business TV is perfect to update menu boards and advertising posters. Thus, it is much expected to drive customer engagement.

To streamline ordering processes, Samsung’s Self-Ordering Kiosk offers a contactless method for ordering and payments. Its user-friendly setup and customizable features make it easy to optimize and streamline operations.

Many fast-food chains have already utilized the self-ordering kiosk, and KFC is among them.

“We wanted to assist our store managers to better focus on serving customers. We are a fast-food restaurant, so we want to be able to serve our customers very quickly,” KFC Chief Information Officer Louie Quiogue said during the business expo.

With technology deeply embedded in all operations, management and delivery services are becoming more important than ever. However, managing deliveries can be tough for businesses, especially in fast-paced industries. To address this challenge, Samsung highlighted its latest Knox-equipped Galaxy Devices, which offers advanced tools for management, security and productivity, making location tracking and delivery management easier.

Samsung VXT (Visual eXperience Transformation Platform), on the other hand, is a cloud-based solution that makes digital signage and content management more user-friendly.

Samsung VXT is revolutionizing businesses in the digital space as it allows businesses to create immersive content experiences that are more personalized, interactive, and visually striking, satisfying customers and their digital needs.

As the business world adapts to the digital landscape, Samsung technologies are standing out as a key player in boosting customer journey and business efficiency. At Samsung, your digital journey awaits. As part of business and retail sectors, explore how digital technologies are making customer experiences better than ever.

Ready to empower your business and enrich your customers’ journey? Visit https://www.samsung.com/ph/business/ to learn more about Samsung’s digital business solutions.

 

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Paxys to hold annual meeting of stockholders on May 10

 

 

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.

PSE to delist Abra Mining and Industrial Corp.

THE Philippine Stock Exchange (PSE) announced on Tuesday a decision to initiate the involuntary delisting of Abra Mining and Industrial Corp. after violations were found by the Securities and Exchange Commission (SEC).

“The PSE is left with no alternative except to maintain the trading suspension on Abra Mining shares and proceed with the initiation of delisting proceedings pursuant to its involuntary delisting rules,” the market operator said in a statement.

The SEC earlier imposed fines on the directors, officers, transfer agent, and certain stockholders of Abra Mining after its shares were found conducting “unauthorized and fraudulent trading” of unissued and unlisted shares from 2015 to 2019.

“Based on SEC’s statement, the violations pertain to the illegal issuance of (Abra Mining) shares and issuance of shares for a consideration less than the stock’s par value,” the PSE added.

It said that the illegal issuance of shares totaled 169.05 billion shares covering 474 stock certificates during the five-year period.

In an April 8 decision, the regulator found the company guilty of violating Section 26 of Republic Act No. 8799 or the Securities Regulation Code (SRC), and Section 61 of Republic Act No. 11232 or the Revised Corporation Code (RCC). Violators were fined at least P560 million.

“Section 26 of the SRC makes it unlawful for any person to employ any device or scheme to defraud or to engage in any act or transaction which operates as a fraud or deceit upon any person,” it said.

The SEC has authority to adjudicate complaints under FPSCPA for damages not exceeding P10 million.

“Minority stockholders of (Abra Mining) may, individually or as a group, consult their counsel and seek legal advice on available remedies under existing laws, including Republic Act No. 11765 or the Financial Products and Services Consumer Protection Act (FPSCPA),” it said.

The SEC also revoked Abra Mining’s registration statement and certificate of permit to sell.

In March 2021, the local bourse halted the company’s trading after it was found selling stocks beyond the number of its listed shares. — Adrian H. Halili

Arts & Culture (04/17/24)

 

BPAD in Motion stages original dances

RENOWNED professionals will be participating in a 90-minute dance showcase through BPAD in Motion, a series of performances which spotlights original choreography by Filipino ballet dancer Tony Fabella, French-Russian ballet pedagogue Marius Petipa, and Russian instructor Vasily Vainonen. The mixed bill repertoire will include compositions in ballet, contemporary dance, jazz, and street by Nina Anonas, Gia Gequinto, Madonna Tinoy, and Mycs Villoso, along with original pieces by Benilde Experimental Dance. It will focus on the artistic abilities of 37 students from the Dance Program of the Benilde School of Arts, Culture, and Performance. BPAD in Motion will be held on April 19, 6 p.m., and on April 19, 1 and 6 p.m. Shows will be at the 6F Blackbox of the Benilde Design + Arts Campus, 950 Pablo Ocampo St., Malate, Manila. Tickets are available at P350 via https://forms.gle/f6efLjvRyV8DiWP38.

Instituto Cervantes holds Día del Libro

IN celebration of the World Book Day on April 20, Dia del Libro, a one-day festival that celebrates reading, will be held at the Ayala Triangle Gardens in Makati on that day. Thousands of books will be up for grabs in the event featuring Manila’s top bookstores and publishing houses which will be selling books at a 20% discount. Following the tradition in Spain, each book purchase will come with a free rose. Visitors can also join poetry recitals, free Spanish classes, book presentations, street art, games, exhibits, storytelling sessions, Spanish food, and children’s activities. The celebration is a project of the Instituto Cervantes de Manila, the Embassy of Spain, Ayala Land, and Make it Makati. Admission to all Día del Libro activities are free on a first-come, first-served basis. For more information, visit Instituto Cervantes Manila’s Facebook page or its website: https://cultura.cervantes.es/manila/en/d%c3%ada-del-libro-2024/166509.

FEU Dance Company holds annual concert

THE FEU Dance Company (FDC) is returning with its annual dance concert titled TAMnan: Yugto ng Pag-aani this April. Set against the backdrop of agriculture and horticulture, it will take the audience through the core stages of planting, with its title inspired by the word tamnan, which means to plant something. The concert is headed by FDC artistic director Deborah Afuang, along with folkdance coach Albert Furing. Its goal is to be a celebration of individuality through dance, but also a commemoration of the power of harvesting a culture that has been planted and continuously nurtured. The show is set for April 20, 3 p.m., at the Far Eastern University (FEU) Auditorium, Manila. Tickets for the FEU Community are P100. Tickets for other guests are P150. For more information, visit: https://feudancecompany.crd.co/#register.

ArtistSpace showcases tender affections for the city

CURATED by Carlomar Arcangel Daoana and co-presented by JFRII Studio, the exhibition “Mga Liham Pag-Ibig sa Lungsod” (“Love Letters to the City”) features 28 works from artists Jowee Aguinaldo, Candice Arellano, Jonas Arlegui, RC Caringal, Rap Carloto, Kendall Colindon, Sarah Conanan, Art De Leon, Eugene Dominguez, Joseph Fraylon, Kim Gaceja, Gamalinda, Siefred Guilaran, and Mark Hernandez. The show is an ode to the shared metropolitan experience. It will be on view from April 19 to May 5 at the ArtistSpace, Ayala Museum Annex, Makati Ave. corner De La Rosa St., Greenbelt Park, Makati City.

GSIS announces 2024 National Art Competition

THE Government Service Insurance System (GSIS) has announced the start of the 19th GSIS National Art Competition 2024. The contest welcomes entries for three categories: representational, nonrepresentational (abstract), and sculpture. The GSIS will be giving cash prizes from P50,000 to P500,000 for winning entries. This year’s theme is “Bagong Pilipinas” (Rise Philippines). Eligible participants, aged 18 and above, may submit one original artwork in one category only. The deadline for submission of entries is July 6. For more details, visit the GSIS website and GSIS Museo ng Sining official Facebook page.

Alliance Française exhibits local heritage brands

FROM traditional crafts elevated with modern sophistication to innovative expressions inspired by ancient rituals, the “Heritage in Bloom” exhibition at the Alliance Française de Manille (AFM) Gallery aims to celebrate Philippine heritage and creativity. The show will have interactive displays and live demonstrations of botanical printing, spinning, and weaving, represented by three local heritage brands: Maison Métisse, Artifeks, and Kanya. The exhibit opens on April 18 and runs until May 18 at the AFM Gallery, 209 Nicanor Garcia St., Makati City.

Watch Buruguduystunstugudunstuy and dine

THOSE planning to watch Buruguduystunstugudunstuy: Ang Parokya ni Edgar Musical can pair their musical theater fix with a dining experience. Newport World Resorts is offering an exclusive Watch & Dine double feature that takes guests from the theater stage to the S Kitchen Buffet spread at Sheraton Manila Hotel inside the Newport complex. The ticket bundle is good for two buffet vouchers and two theater tickets. Prices start at P10,999 and are available at the Epic Rewards Shop website: https://shop.newportworldresorts.com/entertainment.html. The show runs from April 27 to May 7 at the Newport Performing Arts Theater in Pasay City.

CCP welcomes new trustees to its board

THE Cultural Center of the Philippines (CCP) has announced new appointments to its Board of Trustees, namely Isidro A. Consunji, Jonathan Velasco, Felix “Monino” Duque, Gizela M. Gonzalez, and Carissa Coscolluela. The new appointees will join the other trustees, namely chairman Jaime C. Laya and Junie del Mundo, who were reappointed by President Ferdinand Marcos, Jr., and interim trustees Maria Margarita Moran-Floirendo and Marivic del Pilar, to “lead the CCP in fulfilling its vision to be the leading institution for arts and culture in the Philippines,” according to the board’s official statement.

Cajipe Endaya, Comilang, Speiser at Silverlens

SILVERLENS has announced that “Rigodon,” Imelda Cajipe Endaya’s inaugural exhibition at the gallery, will be opening this April. Her abstracts from the mid-1970s will reveal a side of the artist that embraces play, experimentation, and joy, as part of her decades-long search for Filipino identity. At the same time, Silverlens will also present Stephanie Comilang and Simon Speiser’s collaborative exhibit “Piña, Why is the Sky Blue?”  Previously exhibited in the UK and Canada, the exhibit is a “techno-feminist vision of a future in which ancestral knowledge and new technologies converge,” as seen in a video/virtual-reality installation and speculative documentary that features footage shot in the Philippines and Ecuador. Both shows open on April 26 and run until May 25 at the Silverlens Gallery, 2263 Don Chino Roces Ave. Extension, Makati City.

Play on religious controversy, Grace, to run in May

Playwright Floy Quintos and director Dexter M. Santos’ latest collaboration is Grace, a new play based on a religious controversy in 1948. Produced by Stella Cañete-Mendoza and Juliene Mendoza, it is based on the true story of Sr. Teresita “Teresing” Castillo, then a novice nun, who claimed that the Virgin Mother appeared to her in the convent of the Discalced Carmelites in Lipa, Batangas. The cast features Stella Cañete-Mendoza, Shamaine Centenera-Buencamino, Frances Makil-Ignacio, Missy Maramara, Matel Patayon, Leo Rialp, Dennis Marasigan, Nelsito Gomez, Jojo Cayabyab, and Raphne Catorce. Grace will run every Saturday and Sunday from May 25 to June 16, with shows at 3 and 8 p.m., at the PMCS Blackbox Theater in Circuit, Makati. Tickets are available via Ticket2Me. For inquiries, e-mail grace.spotlight.2024@gmail.com.

Gov’t rejects bids for bonds as rates rise on hawkish BSP

BW FILE PHOTO

THE GOVERNMENT rejected all bids for the reissued 20-year Treasury bonds (T-bonds) it auctioned off on Tuesday as investors asked for higher yields amid signals of delayed rate cuts by the Bangko Sentral ng Pilipinas (BSP).

The Bureau of the Treasury (BTr) did not accept any tenders for its offer of P30 billion in reissued 20-year bonds on Tuesday despite total demand reaching P37.555 billion, higher than the amount on the auction block.

Had the Treasury made a full award, the bonds, which have a remaining life of 14 years and nine months, would have fetched an average rate of 6.987% as tendered yields ranged from 6.8% to 7.299%.

This average rate is 39.4 basis points (bps) higher than the 6.593% quoted for the papers when they were last offered on Nov. 22, 2023 and 23.7 bps above the 6.75% coupon fetched for the series.

It is also 18 bps above the 6.807% seen for the same bond series and 21.5 bps higher than the 6.772% quoted for the 15-year bond at the secondary market before Tuesday’s auction, based on PHP Bloomberg Valuation Service Reference Rates data provided by the Treasury.

“Participants requested for higher rates today after BSP Governor Remolona hinted of domestic policy rate cuts in early 2025 rather than the initially expected cuts in late 2024. This knee-jerk reaction has likely compelled BTr to reject bids for today due to lingering uncertainty on near-term central bank policy expectations,” a trader said in an e-mail on Tuesday.

The window for the Philippine central bank to start reducing the key rate in the second half of 2024 is narrowing as the risk that inflation may breach its target for a third straight year rises, according to BSP Governor Eli M. Remolona, Jr., Bloomberg reported.

“The upside risks have become worse than before, and that’s the reason we’ve stayed hawkish,” Mr. Remolona said in an interview on Monday at the Bangko Sentral ng Pilipinas in Manila. “The policy rate is on the tight side. So by being hawkish, what we mean is we will stay where we are,” he said.

Monetary easing will more likely begin in the first quarter of 2025, and the cuts won’t be “huge” — just enough to bring the benchmark closer to the neutral rate of about 6% from the current 6.5%, the governor said.

As things stand, the odds are “over 56%” that inflation may breach the BSP’s 2%-4% target again this year and “that’s a reason to be hawkish,” Mr. Remolona said. “That has to change significantly before we decide to cut,” he said.

“Things have gotten worse in terms of inflation. So yes, if the trend continues, it won’t happen this year,” the governor said of the rate cut.

An escalation in the Israel-Iran conflict that could impact global oil supplies is a potential risk to the Philippine economy, Mr. Remolona said. The Southeast Asian nation imports nearly all of its fuel needs and is among the world’s top buyers of rice.

The BSP last week kept its target reverse repurchase rate unchanged at a near 17-year high of 6.5% for a fourth straight meeting.

The central bank hiked borrowing costs by a cumulative 450 bps from May 2022 to October 2023 to help bring down elevated inflation.

Headline inflation picked up to 3.7% in March from 3.4% in February. This was slower than the 7.6% clip in the same month last year and marked the fourth straight month that the consumer price index was within the central bank’s 2-4% target.

For the first quarter, headline inflation averaged 3.3%, below the BSP’s baseline forecast of 3.8% and risk-adjusted forecast of 4%.

T-bond rates rose amid escalating tensions between Israel and Iran, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

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

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

MacroAsia Corporation’s Annual Stockholders’ Meeting to be held virtually on May 9

 

 

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Ballet hails the return of water to Rome’s ancient Caracalla baths

Dancers perform at the new pool of the ancient Roman public bath complex Baths of Caracalla (Terme di Caracalla) during its preview to the media, prior to the official inauguration, in Rome, Italy, April 12, 2024. — REUTERS

ROME — The return of water to Rome’s ancient baths of Caracalla after more than 1,000 years was greeted on Friday by ballet dancers performing on a platform over a newly installed pool.

One of the largest thermal complexes ever built, the baths were begun by Emperor Septimius Severus in 212 AD and completed four years later by his successor Caracalla. The ruins are now a popular tourist destination and host concerts and theater.

This month local authorities unveiled a project to re-introduce water to the site, installing a large, shallow pool which reflects the towering walls of the ancient buildings.

The pool, dubbed the Specchio, or mirror in Italian, is a rectangular structure 42 meters by 32 meters and 10 cm deep, designed by architects Hannes Peer and Paolo Bornello.

It is meant to evoke the so-called Natatio, the largest of the several pools in ancient Roman baths, usually found at the center.

“Water, an element that has been absent for more than 1,000 years, returns in a decisive yet respectful way to the ruins,” Mirella Serlorenzi, the site’s director, said.

The installation, which is fitted with submerged water jets and lighting effects, is part of a broader project by Rome’s cultural authorities to make the city’s ancient sites more similar to how they were originally conceived.

Friday’s opening show by Aterballetto, choreographed by Iratxe Ansa e Igor Bacovich, will be the first of a string of dance, theater, and classical music performances to be hosted in Caracalla this spring and summer. — Reuters

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