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The Mall of Asia turns to the skies

Families and friends take pictures at the newly opened MOA Sky.

Rooftop space repurposed for sports, entertainment, and art

THE LARGEST MALL in the Philippines, SM Mall of Asia (MOA) in Pasay City, just got a little bit bigger with the addition of MOA Sky, its redeveloped rooftop area on the fourth level of the mall.

MOA Sky is essentially a full kilometer of interconnected plazas, wide open spaces, and promenades, differentiated by distinct sections — a FIFA-grade football pitch, a spiritual sanctuary, an open-air amphitheater, and a pet park.

“Today, we don’t just open a new space, we unveil a bold new era for SM Mall of Asia,” said SM Supermalls Chief Executive Officer and President Steven T. Tan at the Feb. 25 launch of the MOA Sky.

He added that repurposing the rooftop was “all part of [SM Prime Holdings chairman] Hans Sy’s vision.”

“This isn’t just an expansion; it’s a transformation, a realization of a vision set in motion more than a decade ago. I remember it vividly. ‘We have to wow our customers,’” Mr. Tan recalled.

The sports facility is one of the highlights, especially for football fans. The MOA Football Pitch is a full-sized field that seats 1,800 spectators, viable for both college matches and international tournaments.

To inaugurate the venue, the Philippine Women’s National Football Team held a friendly match on the night of MOA Sky’s launch. Philippine Football Federation John Gutierrez said at the event that the FIFA-graded pitch represents “a big boost in Philippine football.”

“This isn’t just about a football pitch. It’s about proving that football belongs here, that it has a future here,” he explained. “It’s going to be a big help to the growth of football here in the country.”

The 3,200-square-meter MOA Sky Amphitheater is just as groundbreaking, providing a new space in Metro Manila for large concerts, fashion shows, and open-air performances. The unveiling saw singer-songwriter Adie, alternative rock band Hale, and indie pop band December Avenue become the first three acts to ever perform at the venue.

Scattered throughout MOA Sky are Filipino-American artist Jefrё Figueras-Manuel’s four-meter-tall sculptures of the 12 animals of the Chinese Zodiac, which mallgoers can snap pictures with. There are QR codes beneath the sculptures where people can view their personalized horoscopes.

“When I was asked by the Sy family to create a sculpture here, I said yes because it was an opportunity to create iconic works in the biggest sky garden in the Philippines!” said Mr. Figueras-Manuel at the unveiling.

“We created a series of Zodiacs because of the idea that all of us here at this sky looking up to the heavens, looking for traits that we all want to achieve that make us part of one story,” he added.

For Mr. Tan, public art “gives Filipino people pieces of beauty to appreciate,” wherever they may be. “It really elevates the whole experience,” he said.

Meanwhile, the MOA Sanctuary offers an escape for spiritual enrichment. It houses “a sacred space for prayer and reflection,” the glass structure with its own secluded pocket gardens serving as the quietest part of the rooftop expanse.

Pet parents can also bring their fur babies to the Paw Park, which features specialized play zones. All throughout the rooftop space, families and friends with their pets are welcome to sit down and have picnics. The North and South Sky Plazas will sometimes host fairs, markets, and art exhibits.

Mr. Tan emphasized “SM Prime’s commitment to sustainability,” evident in the three-megawatt peak solar photovoltaic rooftop which powers the energy used in the entire space.

“This is more than just a landmark. It is where art, sports, entertainment, and sustainability converge into one,” he said. — Brontë H. Lacsamana

ABS-CBN sells 68% of Quezon City property to Ayala Land for P6.24B

PHILSTAR FILE PHOTO

AYALA LAND, Inc. (ALI) has signed a memorandum of agreement to acquire a portion of ABS-CBN Corp.’s property in Quezon City for P6.24 billion. 

In separate disclosures on Thursday, ABS-CBN and property company Ayala Land confirmed the agreement for the sale of ABS-CBN’s property in Quezon City. 

The sale covers up to 30,000 square meters, or 68.14% of ABS-CBN’s 44,027.30-square-meter property.

The agreement is subject to certain conditions, including clearance from the Philippine Competition Commission (PCC). 

The two parties agreed on the valuation after negotiations and a due diligence review, ABS-CBN said.

Following the sale, ABS-CBN will consolidate its operations within the remaining 1.4-hectare property in Quezon City.

ABS-CBN said proceeds from the sale will be used to prepay its outstanding bank loans.

“Down payment shall be placed in an escrow account to be released to ABS-CBN upon completion of certain conditions precedent and signing of the Deed of Absolute Sale. The balance shall be payable in installments over 10 years,” ABS-CBN said. 

For the third quarter of last year, ABS-CBN’s attributable net loss narrowed to P389.87 million, down from P1.02 billion in the same period a year ago. Revenues for the period declined to P4.33 billion from P4.73 billion in the third quarter of 2023.

At the local bourse on Thursday, ABS-CBN shares closed 12 centavos higher at P4.75 apiece. — Ashley Erika O. Jose

Conan O’Brien says Oscars can’t avoid politics but won’t dwell on it

CONAN O’BRIEN at the 2015 San Diego Comic Con International in San Diego, California. — GAGE SKIDMORE/WIKIMEDIA COMMONS

LOS ANGELES — Conan O’Brien said he does not think he can avoid politics when he steps on the stage on Sunday to host the Academy Awards, the highest honors in the movie business.

Past hosts and winners in traditionally liberal Hollywood often commented on current events, at times sparking angry critiques from Donald J. Trump on social media.

Republican Mr. Trump returned to the White House as president in January.

I think as host I cannot ignore the moment we’re in right now, but also it’s threading a needle,” Mr. O’Brien, a first-time Oscars host, said at a press conference. “I want to do it with humor and also make sure the night doesn’t drift into only about that.”

The Oscars will be broadcast live on Walt Disney’s network on Sunday.

Mr. O’Brien said he had a responsibility to celebrate the actors and craftspeople who worked on the nominated movies while acknowledging current events. “It’s a difficult line to walk, but I’m determined to do it,” he said.

He promised a festive night, a luxurious tuxedo custom-made for him by a Los Angeles designer and “for the first time in my career — incredible lighting.”

He also joked that he would take jabs at beloved Hollywood figures such as Ron Howard and Tom Hanks. “I’m going to take ’em both down.”

Mr. O’Brien said he could not reveal much else about the show.

“I don’t go to rehearsals. I hang out at a Cheesecake Factory,” he quipped. — Reuters

SEC pushes on with AML reforms to prevent FATF relisting

BW FILE PHOTO

By Luisa Maria Jacinta C. Jocson, Reporter

THE SECURITIES and Exchange Commission (SEC) is ramping up reforms by launching a beneficial ownership registry, tightening oversight of financial institutions and non-profits, and drafting new crypto asset regulations to ensure the Philippines does not return to the Financial Action Task Force’s (FATF) “gray list,” its chairman said.

“The next two years will be crucial as the Philippines prepares for another mutual evaluation, where the country’s AML/CFT standards will be assessed for compliance with global standards,” SEC Chairperson Emilio B. Aquino said during a briefing on Thursday. 

“Failure to address identified risks — such as gaps in beneficial ownership transparency, enforcement actions, or emerging financial threats — could increase our risk of going back to the gray list,” he added. 

The FATF last week removed the Philippines from its list of jurisdictions under increased monitoring for “dirty money” risks. 

The country had been on the gray list for over three years, since June 2021. The dirty money watchdog said the Philippines’ removal was due to progress in addressing strategic deficiencies in anti-money laundering, countering the financing of terrorism, and proliferation financing (AML/CFT/CPF).

In 2027, the Philippines will undergo a new assessment, during which the FATF will verify whether the measures remain in place. 

The SEC said it will continue cooperating with other government agencies and authorities to combat money laundering and other illicit financial activities.

PROJECT HARBOR
The SEC plans to launch the Hierarchical Applicable Relations and Beneficial Ownership Registry (Project HARBOR) this year. This will serve as a “registry of beneficial ownership information that will be easily accessible to partner agencies through data-sharing agreements.”

“Project HARBOR’s features will include automated data validation, configurable access levels for authorized users, and analytical tools for identifying complex ownership structures.”

The registry aims to streamline beneficial ownership disclosures, promote regulatory transparency, and enhance compliance with global AML/CFT standards.

“Project HARBOR will modernize how we manage beneficial ownership data, reducing manual interventions and facilitating a secure, efficient disclosure process for corporations, thereby addressing concerns over the accuracy of beneficial ownership information submitted to the SEC,” Mr. Aquino added. 

NON-PROFIT ORGANIZATIONS
The SEC also said it will continue to monitor the non-profit organization (NPO) sector through regular offsite and onsite examinations. 

“The SEC has committed to continuing outreach and knowledge-sharing activities for the NPO sector, while also encouraging unincorporated entities to register with the Commission to reduce their risk of being used for money laundering and terrorist financing.” 

The FATF, in its statement, emphasized that the Philippines’ reform measures should not impede legitimate nonprofit activities. 

“We recognize the important role that non-profit organizations play in nation-building through the advocacies they put forward,” Mr. Aquino said.

“At the SEC, our goal in regulation is to improve corporate governance without unduly burdening legitimate NPO activities,” he added. 

The SEC said it is also streamlining processes and removing redundancies by prioritizing engagement with NPOs through capacity-building initiatives instead of imposing additional regulatory requirements. 

FINANCIAL INSTITUTIONS
“Aside from the NPO sector, the SEC is also strengthening enforcement of AML/CFT policies over financial institutions under its jurisdiction, including brokers, dealers, lending and financing corporations, and other securities dealers, in line with its mandate as the country’s capital market regulator.” 

Mr. Aquino said the SEC is also closely monitoring virtual currencies and other digital assets.

“To mitigate risks, the Commission is drafting new rules on crypto-asset service providers (CASPs) to enhance oversight and supervision of businesses engaged in offering, trading, and other activities involving innovative financial products.”

The draft guidelines for CASPs have already been released for public consultation, the SEC added. 

“The SEC reiterates its commitment to implementing the necessary measures in compliance with evolving global AML/CFT standards, ensuring that the Philippines’ presence on the FATF gray list will finally become a thing of the past,” Mr. Aquino said. 

IMPACT
The banking, financial institutions, and financial technology sectors could see a boost in investment. 

“There are a lot of potential venture capitalists and private equity firms interested. They will bring in their money as long as the country is not seen as a high-risk investment destination. Now, with our removal from the gray list, the Philippines has become more attractive. Investors no longer have to worry,” Mr. Aquino said. 

In 2002, the FATF blacklisted the Philippines for having no legal anti-money laundering framework. The country was removed from the blacklist a year later after the passage of the Anti-Money Laundering Act. 

Last year, President Ferdinand R. Marcos, Jr. directed all relevant agencies to work toward the country’s removal from the gray list by October. 

In July, Malacañang issued an executive order mandating all government offices to adopt the National Anti-Money Laundering, Counter-Terrorism Financing, and Counter-Proliferation Financing Strategy 2023–2027.

Peso dips as Trump tariff vs EU fans trade war fears

BW FILE PHOTO

THE PESO dipped against the dollar on Thursday after US President Donald J. Trump said he would slap a 25% tariff on the European Union (EU), which vowed to counter “firmly and immediately,” fanning fears of an escalating trade war.

It closed at P57.91 a dollar, three centavos weaker than its P57.88 finish on Tuesday, according to Bankers Association of the Philippines data posted on its website.

The peso opened at P57.87 against the dollar, weakened to as much as P57.92 and strengthened to as much as P57.85. Volume fell to $1.07 billion from $1.09 billion on Tuesday.

“The peso weakened from safe-haven demand after US President Trump announced 25% tariffs for the European Union,” a trader said in an e-mail.

The US leader on Wednesday said he plans to slap cars and other goods from the European Union a 25% tariff. The EU vowed to counter “firmly and immediately.”

The dollar-peso also traded cautiously as players awaited key US data to be released overnight, including initial jobless claims and durable goods, in addition to US GDP, another trader said by telephone.

The second trader expects the peso to weaken further on Friday on expectations of an upbeat report on US durable goods.

The first trader expects the peso to trade from P57.70 to P58.10 a dollar, while the second trader sees it at P57.80 to P58.05.

The dollar firmed in Asia on Thursday and Treasury yields ticked higher as investors assessed the outlook for tariffs and the economy under Mr. Trump.

Asian stocks were weaker overall in volatile trading, with tech shares around the region getting little steer from earnings of heavyweight US chipmaker and artificial intelligence darling Nvidia.

Cryptocurrency Bitcoin languished near the $85,000 mark, while safe-haven gold steadied some $64 an ounce below its record high as trade war worries kept market sentiment fragile.

Mr. Trump clouded the outlook for looming levies on top trading partners Canada and Mexico on Wednesday by signaling they would take effect on April 2, which would be another month-long extension.

However a White House official later said the previous March 2 deadline for the levies remained in effect “as of this moment,” stirring further uncertainty about US trade policy.

US two-year Treasury yields rose to 4.09%, finding their footing after a slump to the lowest since Nov. 1 at 4.065% in the prior session. The 10-year yield rose to 4.2809% from a low of 4.245% on Wednesday, a two-and-a-half-month trough.

The dollar and US yields have been under pressure in recent weeks as a run of soft economic indicators have combined with growth worries arising from Mr. Trump’s tariff plans.

Traders have raised bets for Federal Reserve interest rate cuts in recent days, now seeing two quarter-point reductions this year, with the first likely in July and the next as early as October.

Markets will look at GDP and durable order data due on Thursday for any stronger signs of slowdown, while the Fed’s preferred inflation gauge, the personal consumption expenditure index, is due on Friday.

“Markets are starting to feel less confidence about US growth,” said Shoki Omori, chief global desk strategist at Mizuho Securities. “US data surprises will continue to be towards the downside,” although as economists start to adjust their forecasts toward weaker outcomes, and with inflation still “sticky,” 10-year Treasury yields are unlikely to fall below 4%, he added.

The dollar index, which measures the currency against six major rivals, rose 0.24% to 106.7, continuing its climb off a two-and-a-half-month low of 106.12, reached earlier this week. — Aaron Michael C. Sy with Reuters

The undeniable impact of Bob Dylan

A Complete Unknown (2024)

By Brontë H. Lacsamana, Reporter

Movie Review
A Complete Unknown
Directed by James Mangold

YET ANOTHER biopic of a beloved musician has hit the big screen, this time inviting longtime Bob Dylan fans to revisit their favorite songs, and younger audiences to get to know the 1960s icon.

This picture of a mysterious counterculture legend, who arrives to fame in New York as if out of nowhere (well, actually, Minnesota), employs the usual storytelling devices we’ve all seen before in other music biopics. While Bob Dylan is a uniquely singular personality, Mr. Mangold’s standard filmmaking renders this supposedly revolutionary character and intriguing arc within folk music, a bit flat.

One thing must be made clear, though. This is not a dig at all at Timothée Chalamet’s acting ability. Taking on the physicality, mannerisms, and distinct voice of Mr. Dylan with ease, he embodies the self-absorbed, nonchalant energy that made him appealing to people at the time. Perhaps the only criticism of his performance is that he’s too well-known to millennials and Gen Zs at this point so it’s difficult to disentangle Mr. Chalamet’s boyish charm from that of young Mr. Dylan’s. He never truly “disappears” into the role, as is the expectation with biopics. While his descent into the spirit of the freewheelin’ folk rock icon is clear and admirable, many may argue that there is no point recreating the man’s singular enigmatic charm, except to reshape the existing one that Mr. Chalamet has, as best he could. In any case, the Academy has deemed his performance Oscar nomination-worthy, and the Screen Actors Guild recently awarded him Best Actor for it, in a milestone that Mr. Chalamet said he considers part of his “pursuit of greatness.”

Made for those who already know what a legend Bob Dylan is, the film wastes no time in letting us know that he has unimaginable depths to him that are futile to explore — and so, we must focus on the impact of his music on the world, and of his stubborn personality on the people around him.

Of course, there’s nothing inherently wrong with this approach, except for the fact that we’ve already seen it done in a more creative, truly ambitious way with Todd Haynes’ 2007 take on Mr. Dylan’s multifaceted character in I’m Not There, where six different actors portrayed various aspects of his life and music (namely Christian Bale, Cate Blanchett, Heath Ledger, Ben Whishaw, Richard Gere, and Marcus Carl Franklin). There are also the two excellent, deep-dive documentaries on Mr. Dylan made by Martin Scorsese — 2005’s No Direction Home and 2019’s Rolling Thunder Revue.

Stacked against a larger-than-life music figure whose tale has been told masterfully many times before, Mr. Mangold instead paints a clean, detailed picture of the vibrant folk music scene, and how it interweaves with the cultural upheaval that was going on in 1960s America. Armed with a guitar and a pen that would eventually be used to create extremely poignant (and later Nobel Prize-winning) pieces of music, the contrarian Bob Dylan and his path to stardom becomes a transformation into an agent of change for the tumultuous times.

Aside from Mr. Chalamet’s decent portrayal, praise must be heaped on Monica Barbaro, who is radiant as singer-songwriter Joan Baez, an icon herself that becomes the all-to-pretty foil to Mr. Dylan’s contrarian ways. Another supporting character to note is Edward Norton’s take on Pete Seeger, who starts off as a gentle, nurturing pillar of folk music — until he subverts expectations and his resentment towards the uncontrollable force of nature that is Bob Dylan grows and grows. The beautiful Elle Fanning as Sylvie Russo (a character based on his then-girlfriend Suze Rotolo) turns in a heartbreaking performance of a woman caught in the crosshairs, failed romantically by a man occupied with seemingly greater things.

A realization about Mr. Chalamet’s casting is that his real-life persona as a serious, sensitive artist and heartthrob really channels that aspect of Mr. Dylan more than other depictions before this. Female audience members who are attracted to self-absorbed, noncommittal artsy types with disheveled hair and clothes must beware, for this film captures that energy perfectly. This allows Barbaro, Norton, and Fanning, as actors portraying the people on the other ends of his unpredictable relationships, to have their brief moments to shine.

Being based on the 2015 book Dylan Goes Electric! by Elijah Wald provides the film with a solid backbone of the musician’s journey experimenting with the folk genre. Mr. Mangold and Jay Cocks’ adapted screenplay leans into the sense of this enigmatic man making waves, as a newcomer and then as a star, with the people at the time caught in the trajectory of his impact. Those deep into Bob Dylan lore will also find it apt that the film is bookended by brief moments of meeting his real-life inspiration, Woody Guthrie (played by Scoot McNairy), shown on his deathbed throughout the events that take place.

Memorable tunes such as “Like a Rolling Stone,” “Mr. Tambourine Man,” and “The Times They Are a-Changin,’” with Mr. Chalamet’s voice imitating Mr. Dylan’s, convey a thoughtful attempt to distill the original music in the recreation. “It’s All Over Now, Baby Blue” is a personal favorite, along with all of Dylan and Baez duets, especially “Don’t Think Twice, It’s All Right” and “It Ain’t Me, Babe,” but what it most successfully does is inspire audiences to listen to the real stuff afterward and bask in just how great the music is.

It’s beguiling to watch the quieter scenes of Mr. Chalamet’s Dylan writing songs at night, hair tousled with his old guitar in hand, either in his New York flat or after a night with Barbaro’s Baez (the inexplicable pull between the two in this fleeting affair simply electric to behold). All of this, in contrast to the sociopolitical and cultural turmoil that often swirled around them, in the streets or on TV reports, drive home just how serendipitous it is that Bob Dylan had such resonant music that came forth right at a time the world needed it. Even if it has a biographical approach that feels too safe to appropriately mirror the evocative nature of Mr. Dylan’s life and work, A Complete Unknown is proof of his impact that people still like to remember today.

A Complete Unknown is now showing in Philippine cinemas nationwide.

Spain’s Repsol acquires 40% stake in Unioil Lubricants

UNIOIL.COM

MADRID-BASED multinational energy and petrochemical company Repsol S.A., through its subsidiary, has acquired a 40% stake in the lubricant manufacturing and distribution arm of the Unioil Group of Companies. 

In a statement on Thursday, Unioil Group said it had entered into a joint venture agreement with Repsol Downstream Internacional, S.A.U. to invest in Unioil Lubricants, Inc. (ULI).

ULI will be responsible for manufacturing and distributing a diverse range of products, including Unioil, Idemitsu, and Repsol lubricants.

The partnership aims to leverage both companies’ strengths to enhance product offerings and expand market reach. 

“This collaboration not only strengthens our position in the lubricants market but also allows us to offer a wider range of high-quality products to our customers. We are confident that this partnership will drive significant growth and innovation for Unioil Lubricants, Inc.,” ULI President Manuel Soriano said in a statement.

Established in 1966 by the Co family, Unioil started as a re-refiner of base oil before expanding to manufacture its own branded lubricants. The company later ventured into fuel trading, distribution, and retailing. It operates 165 retail stations and four storage terminals across the Philippines. 

This latest acquisition marks Unioil’s second foreign partnership this month, following its recently announced deal with Saudi Arabian oil giant Aramco. 

Unioil and Aramco entered into definitive agreements for the latter’s acquisition of a 25% stake for an undisclosed amount.

As part of the partnership, Unioil will introduce Aramco’s brands and Valvoline-branded lubricants to Filipino consumers.

The deal comes 17 years after Aramco, widely considered the world’s largest oil producer, exited the Philippines following the sale of its 40% stake in Petron Corp. In 1994, Aramco had invested in Petron when the Philippine government privatized the company. — Sheldeen Joy Talavera

NGCP eyes completion of P8.1-B Tuy-Dasmariñas project by Q4

PHILSTAR FILE PHOTO

POWER TRANSMISSION operator National Grid Corp. of the Philippines (NGCP) expects to complete its P8.1-billion Tuy-Dasmariñas 500-kilovolt (kV) project by the fourth quarter (Q4) of this year. 

“One big project is [the] Tuy-Dasmariñas 500-kV backbone in South Luzon, and this is for completion this year. It’s a major transmission [project],” Redi Allan Remoroza, NGCP’s assistant vice-president and head of transmission planning, told reporters on Wednesday. 

The Tuy-Dasmariñas 500-kV Transmission Line involves the construction of a 49-kilometer double-circuit overhead transmission line, initially to be energized at the 230-kV voltage level. 

The new transmission line is expected to accommodate the entry of an additional 5,215.55 megawatts of proposed generation capacity near Calaca, Batangas.

Alongside the construction of the overhead transmission line, NGCP will also build a new substation in the town of Tuy, Batangas. 

The Tuy 500/230-kV Substation Project Stage 1 was approved by the Energy Regulatory Commission in October last year, with an approved cost of P8.1 billion, according to NGCP. 

The Tuy-Dasmariñas 500-kV Line is part of NGCP’s major grid development under its Transmission Development Plan. 

In November last year, the grid operator said it is allocating more than P600 billion in capital expenditures for over 100 transmission projects in its pipeline. — Sheldeen Joy Talavera

BDO, Shizuoka Bank expand tie-up to boost service to Japanese companies

PHILIPPINE STAR/IRRA LISING

BDO UNIBANK, Inc. has expanded its partnership with Shizuoka Bank Ltd. to boost trade and investment with Japanese companies in the country.

“The expanded partnership with Shizuoka Bank enables companies to connect with the right partners, streamline financial transactions and navigate regulatory landscapes,” it said in a statement on Thursday.

“This demonstrates BDO’s commitment to accelerate trade and investments and strengthen vital industries contributing to the nation’s economic development,” it added.

The parties signed a memorandum of understanding to enhance the business alliance and support Japanese firms in the Philippines.

Under the expanded partnership, Shizuoka Bank expects a bigger client base in the Philippines through additional investments and business matching initiatives.

“With Japan increasing its demand for skilled Filipino workers, BDO and Shizuoka Bank will provide the needed support to overseas Filipino workers including technical intern trainees, specified skilled workers and professionals employed in Japan,” BDO said.

Shizuoka Bank has 177 branches and 26 subbranches in the Shizuoka Prefecture, as well as in Japan’s three major economic hubs — Tokyo, Osaka and Nagoya.

The lenders partnered in 2016 to provide financial solutions to Japanese customers.

BDO’s attributable net income climbed 11.73% to P82.02 billion last year on the back of the solid performance of its core businesses.

Its shares went up P2.10 to close at P150.50 each. — Aaron Michael C. Sy

Actor Gene Hackman and wife found dead at home

Gene Hackman in a scene from the 2003 film Runaway Jury.

GENE HACKMAN, the intense character actor who won two Oscars in a more than 60-year career, has died alongside his wife, pianist Betsy Arakawa, and their dog at home, the sheriff’s office in Santa Fe, New Mexico, said on Thursday.

The county sheriff’s office said deputies had found the 95-year-old actor and Ms. Arakawa, 64, deceased on Thursday afternoon at around 1:45 p.m.

“Foul play is not suspected as a factor in those deaths at this time, however exact cause of death has not been determined. This is an active and ongoing investigation by the Santa Fe County Sheriff’s Office,” it said.

Mr. Hackman, a former Marine known for his raspy voice, appeared in more than 80 films, as well as on television and the stage during a lengthy career that started in the early 1960s.

He earned his first Oscar nomination for his breakout role as the brother of bank robber Clyde Barrow in 1967’s Bonnie and Clyde. He was also nominated for best supporting actor in 1971 for I Never Sang for My Father.

It was his turn as Popeye Doyle, the rumpled New York detective chasing international drug dealers in director William Friedkin’s thriller The French Connection, that assured his stardom and a best actor Academy Award.

He also won a best supporting actor Oscar in 1993 as a mean sheriff in the Clint Eastwood western Unforgiven, and was nominated for an Academy Award for his turn as an FBI agent in the 1988 historical drama Mississippi Burning.

Mr. Hackman could come across on the screen as menacing or friendly, working with a face that he described to the New York Times in 1989 as that of “your everyday mine worker.”

A method actor, he drew from his personal experience to flesh out a role. His characters were sometimes raw and violent and ranged from a small-town basketball coach in the 1986 sports film Hoosiers to Superman’s archrival Lex Luthor.

He retired in his 70s, saying the parts he was offered were too grandfatherly. His last substantial role was in the 2004 comedy Welcome to Mooseport.

Living outside Santa Fe, New Mexico, Mr. Hackman was married twice and had three children — Christopher, Elizabeth Jean and Leslie Anne, with his late ex-wife, Faye Maltese, who died in 2017. He married Ms. Arakawa in 1991. — Reuters

PXP Energy cuts net loss to P30.9M in 2024 on higher sales, cost reductions

PXPENERGY.COM.PH

PANGILINAN-LED PXP Energy Corp. narrowed its attributable net loss to P30.9 million for 2024 from P97 million a year earlier, driven by higher petroleum sales volume, reduced overhead costs, and lower net interest expenses.

The company’s core net loss stood at P33.3 million during the period, lower than the P42.5 million recorded in 2023, PXP said in a statement on Thursday.

The reduction was attributed to “higher volume lifted, a reduction in overhead, and lower net interest expense.”

Petroleum revenues rose by 6% to P67 million, driven by higher output sold at 498,126 barrels of oil. This was partially offset by a slight decline in the average crude oil price to $79.97 per barrel from $80.50 per barrel previously. The crude was sourced through Service Contract (SC) 14C-1 Galoc. 

SC 14C-1 is a block containing the producing Galoc Oil Field, situated offshore Northwest Palawan. The oil field has yielded approximately 24.2 million barrels since production began in October 2008, according to PXP.

Costs and expenses declined by 10.5% to P91.8 million, primarily due to significant reductions in both production costs and recurring overhead, which fell to P37.5 million and P54.4 million, respectively.

Amid ongoing geopolitical tensions, PXP and Forum Energy Limited reiterated their commitment to SC 72 and SC 75 despite the extended force majeure on both blocks.

The company holds a 50% operating interest in SC 75, located in Northwest Palawan. Forum Energy, through its wholly owned subsidiary Forum (GSEC 101) Limited, has a 70% operating interest in SC 72 Recto Bank, offshore West Palawan. 

PXP Chairman Manuel V. Pangilinan said the company remains unable to proceed due to the moratorium.

“We can’t do anything when the moratorium is there because we don’t own the asset. It’s owned by the government. Service contracts [are] given to us by the government as [a] concessionaire,” Mr. Pangilinan told reporters on Monday. 

He added that the company could initiate discussions with China National Offshore Oil Corp. (CNOOC), China’s state-owned oil producer, to explore possible action.

“Probably, there has to be some, I guess, some conversation between the Chinese government first. But what we might be able to do is we’ll talk to CNOOC, our counterpart, because it’s an enterprise-to-enterprise [arrangement] as [the] private sector,” he said.

PXP and CNOOC previously held talks on a potential joint oil and gas development in the South China Sea.

Meanwhile, PXP and its joint venture partners are anticipating the imminent awarding of two pre-determined areas (PDAs) offered by the government for petroleum exploration. 

A joint venture comprising PXP, The Philodrill Corp., Sunda Energy Plc (United Kingdom), and operator Triangle Energy (Global) Limited (Australia) has submitted bid documents for petroleum exploration in two PDAs located in the Sulu Sea Basin.

“The company is also actively assessing the feasibility of SC 40’s Dalingding prospect, located onshore in northern Cebu, and will continue to evaluate other oil and gas projects within the Philippines.”

SC 40, also known as the North Cebu Block, is situated in the Visayan Basin, which the Department of Energy considers among the “most prospective in the country,” second only to the producing Northwest Palawan Basin. — Sheldeen Joy Talavera

No, celebrities are not the problem

PHILIPPINE STAR/EDD GUMBAN

RECENT pre-election surveys indicate a significant shift in the Philippine political landscape, with media celebrities poised to secure a substantial number of Senate seats in the upcoming May 2025 elections. According to data from the Philippine Center for Investigative Journalism (PCIJ), if current trends persist, 11 out of the 24 Senate seats could be occupied by popular figures from the news, entertainment, and sports sectors.

Notably, incumbents such as actors Robin Padilla and Jinggoy Estrada, along with broadcaster and YouTuber Raffy Tulfo, are expected to retain their positions. News broadcasters Erwin and Ben Tulfo (Raffy Tulfo’s brothers) and former Senate President (and former TV comedian) Vicente Sotto III are leading in recent Pulse Asia surveys, with over 50% of respondents expressing support for their candidacies.

This trend underscores a growing voter preference for candidates with a strong media presence and public recognition, challenging traditional notions of political qualifications. Yet, instead of reckoning with this reality, Filipino liberals continue to react with frustration, repeating the same tired complaint: Why do we keep electing actors and artists into the Senate?

This reaction isn’t just condescending — it’s politically shortsighted. The assumption that actors are inherently unqualified ignores both the nature of electoral politics and the reality that voters aren’t looking for policy technicians; they’re looking for leaders who resonate with them. By refusing to adapt to this political psyche, Filipino liberals widen the gap between their brand of politics and the mass electorate, leaving a vacuum that conservatives and populists readily exploit.

It’s time to rethink this outdated, elitist view. The problem isn’t that actors enter politics — it’s that Filipino liberals refuse to understand why they win.

POLITICS IS ABOUT POWER
There’s a common misconception that senators should be policy experts. In truth, legislative work is a collective effort, involving legal teams, think tanks, and technical advisors. What matters in electoral politics isn’t whether a candidate can draft a bill from scratch but whether they have the influence and political capital to push policies forward.

This is why actors and media personalities make effective politicians: they already understand how to communicate, how to command public attention, and how to shape narratives. These are essential political skills — arguably more crucial in a democracy than technical expertise.

This isn’t a uniquely Filipino phenomenon either. Around the world, actors have transitioned into politics and left significant legacies.

In the US, Ronald Reagan evolved from an actor to the Governor of California before becoming one of the most impactful US presidents. Arnold Schwarzenegger similarly leveraged his fame to win California’s governorship, where he championed bipartisan policies on climate change and infrastructure. In the UK, Oscar-winning actress Glenda Jackson became a Labor MP, advocating fiercely for social justice and public housing. Meanwhile, Volodymyr Zelenskyy, once a comedian portraying a fictional president, now leads Ukraine through one of the most consequential wars of the 21st century.

None of these figures were dismissed outright for their backgrounds in entertainment. They were instead evaluated on their ability to mobilize public support and navigate power structures. Filipino liberals, in contrast, still cling to a narrow definition of “qualification” that isolates them from the realities of electoral politics.

HOW CONSERVATIVES EXPLOIT THIS LIBERAL BLIND SPOT
This elitist attitude does more than alienate voters — it also plays right into the hands of conservative populists. By positioning themselves as the defenders of “serious” politics, liberals reinforce the idea that they are disconnected from ordinary Filipinos, while populists and right-wing figures brand themselves as the true representatives of the people.

UP Diliman research conducted by Dave Centeno on parasocial relationships — where audiences develop one-sided emotions and bonds with celebrities — suggests that these figures resonate with voters because they feel personally connected to them. A study on Philippine political campaigns found that celebrities bring an added level of emotional engagement that traditional politicians struggle to replicate.

This is exactly how figures like Donald Trump weaponized mass appeal against political elites in the US. His critics mocked his reality TV background, but that same media savvy made him an unstoppable force in modern politics. The more traditional politicians dismissed him, the more he gained credibility as an anti-elite figure.

In the Philippines, conservatives and populists use a similar strategy. Every time a liberal intellectual scoffs at an actor running for Senate, it feeds the narrative that the opposition is a club for the privileged few — disconnected from the masses and allergic to popular culture.

STOP COMPLAINING AND START ADAPTING
If Filipino liberals want to remain relevant, they need to stop looking down on the electorate and start learning how to engage with them. Instead of dismissing celebrity candidates outright, they should be asking: What makes these figures resonate with voters? How can we harness the same emotional and cultural power in our own political messaging?

Filipino liberals need to abandon the lazy complaint that actors shouldn’t be in politics. Electoral politics is about power, influence, and decision-making — not just drafting bills. The real question isn’t whether actors should run, but why liberal candidates fail to match their appeal.

If liberals continue to operate within an intellectual bubble, they will keep losing elections and ceding ground to populists. The challenge isn’t to shame voters into rejecting celebrities — it’s to meet them where they are, understand what moves them, and build a political movement that embraces both competence and charisma.

 

Jam Magdaleno is a political communications expert and the head of the Information & Communications unit at the Foundation for Economic Freedom, a Philippine-based policy think tank.