Facebook Instagram Linkedin X Youtube
Home Blog Page 1955

Conclave named best film at BAFTAs, The Brutalist also honored

A SCENE from the 2024 film Conclave.

LONDON — Papal selection thriller Conclave and period drama The Brutalist were the big winners at the British Academy of Film and Television Arts (BAFTA) Film Awards on Sunday, winning four prizes each.

Conclave, which had led nominations with 12 nods, won the night’s most coveted award, best film, as well as outstanding British film, best adapted screenplay, and best editing.

“We live in a time of a crisis of democracy and institutions that are usually used to bring us together are used to pull us apart,” Conclave director Edward Berger said in his acceptance speech for the outstanding British film award.

“And sometimes it’s hard to keep the faith in that situation but that’s why we make movies and that’s why we made this movie.”

The Brutalist, a three-and-a-half-hour tale about a Hungarian immigrant architect trying to rebuild his life in the United States post-World War II, had also been considered a frontrunner for best film. It won best director for Brady Corbet and best actor for its star, Adrien Brody.

“This film is really about this pursuit of leaving something meaningful and I think that is something we can all relate to,” Mr. Brody said in his acceptance speech.

The Brutalist also won original score and cinematography.

In one of the big surprises of the night, Mikey Madison won the leading actress category for portraying an exotic dancer who gets involved with a Russian oligarch’s son in Anora.

Many had considered the frontrunners to be Demi Moore, who has received multiple honors for her performance in body horror The Substance, and Briton Marianne Jean-Baptiste, for her critically acclaimed portrayal of a woman struggling with depression in Hard Truths.

“I really wasn’t expecting this,” Ms. Madison said.

“I want to take to a moment to recognize the sex worker community… you deserve respect and human decency. I will always be your friend.”

Anora, considered a strong awards season contender after it and director Sean Baker triumphed at the Critics Choice Awards, as well as the Producers and Directors Guild of America Awards ahead of next month’s Academy Awards, was also up for best film, as was Bob Dylan biopic A Complete Unknown.

SALDANA, CULKIN WIN
Fellow best film nominee Emilia Pérez, which mixes the diverse genres of musical and crime, triumphed in the film not in the English language category.

“This is too nice, you shouldn’t have done that,” director Jacques Audiard said, accepting his award. “This award is not just for me but everyone who worked tirelessly on this film.”

He thanked the film’s cast members, including an absent Karla Sofia Gascon, who had been nominated for leading actress.

Zoe Saldana won supporting actress for her portrayal of a lawyer who helps a Mexican cartel leader, played by Ms. Gascon, fake his death and transition from a man to a woman.

Emilia Pérez, had been an early awards frontrunner, but its campaign lost steam following controversy surrounding Ms. Gascon, who has apologized for past social media posts denigrating Muslims and other groups and said she would go silent to help the movie ahead of the Oscars.

In the supporting actor category, Kieran Culkin won for dramedy A Real Pain. The movie also picked up best original screenplay for writer-director Jesse Eisenberg. — Reuters

Key Winners

Below is a list of the winners in the key categories.

Best Film – Conclave

Outstanding British Film – Conclave

Director – Brady Corbet, The Brutalist

Leading Actor – Adrien Brody, The Brutalist

Leading Actress – Mikey Madison, Anora

Supporting Actor – Kieran Culkin, A Real Pain

Supporting Actress – Zoe Saldana, Emilia Pérez

Original Screenplay – A Real Pain

Adapted Screenplay – Conclave

Film Not in English Language – Emilia Pérez

Animated Film – Wallace and Gromit: Vengeance Most Fowl

Documentary – Super/Man: The Christopher Reeve Story

Original Score – The Brutalist

Children’s and Family Film – Wallace and Gromit: Vengeance Most Fowl

Bafta Fellowship – Warwick Davis

EE Rising Star – David Jonsson

Basic Energy finalizes deal with Japan’s Renova

RAWPIXEL.COM-FREEPIK

BASIC ENERGY Corp. has finalized its joint development and shareholders’ agreement with Japanese renewable energy developer Renova, Inc., advancing their development of the 50-megawatt (MW) Mabini Wind Power Project in Batangas.

As a result of the closing, Renova officially becomes a partner in RDG Wind Energy Corp. (RWEC), contributing its expertise and resources to the wind power project, the listed energy company said in a media release on Monday.

Renova develops and operates renewable power plants utilizing existing energy resources in each region and provides decarbonization solutions in Japan and overseas.

“We are thrilled to collaborate with Renova on this important initiative,” Basic Energy said. “Together, we are dedicated to advancing the country’s renewable energy efforts, and we are confident that RWEC will play a pivotal role in meeting the Philippines’ growing energy demands.”

The finalization of the agreement comes after Basic Energy fulfilled the conditions precedent, “with certain items transitioning to conditions subsequent as mutually agreed by partners.”

Basic Energy and Renova incorporated representatives to the board of directors of RWEC, along with the establishment of a new management team consisting of key personnel from both companies.

In April last year, Basic Energy signed an agreement with Renova to form a joint venture on a 50:50 equity basis in RWEC (formerly Mabini Energy Corp.), the special purpose vehicle for the wind power project.

As a result of the deal, the companies will jointly develop a wind power project in Batangas with an estimated cost of around P5 billion.

RWEC completed its wind resource assessment, which indicated excellent wind conditions, and its wind turbine generator micrositing study, which showed significant potential for future capacity expansion.

The unit also obtained the approval of the National Grid Corp. of the Philippines for its system impact study, allowing the project to proceed with plans for grid interconnection and power delivery.

It obtained its wind energy service contract from the Department of Energy in 2021 to explore, develop, and operate a wind power plant for a period of 25 years.

The wind farm spans 4,860 hectares of land in Mabini, Batangas. It is slated for completion and commissioning by early 2028. — Sheldeen Joy Talavera

A confrontation with death

By Brontë H. Lacsamana, Reporter

Movie Review
The Room Next Door
Directed by Pedro Almodóvar

THE melodic absurdity of Pedro Almodóvar’s films is difficult to imagine as being translatable to English, but I am glad to say that the unique beauty of his style of filmmaking manages to shine through in his first English-language feature-length effort, The Room Next Door.

It’s a film that manages to be both gentle and exacting with its tough subject matter. Existential dread permeates the lives of everyone, something Mr. Almodóvar has tackled in many of his works, but never more so than the sudden confrontation of death featured heavily in this latest one.

The Room Next Door follows Ingrid (played by the graceful Julianne Moore), an autofiction novelist whose greatest fear is death. She is thrust into the horrific, unwanted responsibility of being witness to it in real time when her old friend Martha (played by the willowy yet intense Tilda Swinton), a former war reporter now succumbing to cancer, makes an extreme request.

“I would like for you to be in the room next door when I do it,” she asks of Ingrid, referring to her act of euthanasia using illegally acquired pills. (Voluntary euthanasia is not legal in most countries, including the United States.)

What follows is a bleak adventure, told with wickedly dark humor. Both Ms. Moore and Ms. Swinton adopt the distinctly absurd “Almodóvarian” speech patterns — think methodical yet somewhat musical dialogue that people in real life normally wouldn’t use — as they discuss the harshness of euthanasia as a concept. Ms. Swinton’s weakened yet steadfast Martha is straightforward as she pushes towards the finality of death, while Ms. Moore’s nervous Ingrid is deathly frightened as she instinctively pulls back from it.

The oddity of the whole situation and the way the two leads speak suits the story. It boldly presents an unnatural situation set in a heavy-handed depiction of American life and politics, which can take you out of it sometimes. After all, Almodóvar has a European perspective, and his fascination for literature and old films is reflected in the cinematography and the references the characters themselves make — from Edward Hopper and Ingmar Bergman to Buster Keaton and John Huston, among others. All these influences are given new life in a tale that turns out to be exactly about that: people living on through others.

Even candid opinions about how the world is doomed, voiced explicitly by John Turturro’s character Damian, who plays a vital role in both Ingrid and Martha’s lives, match perfectly with the frank treatment of death that they all grow to express. Ms. Moore and Ms. Swinton’s back-and-forth, navigating the uncanny rhythm of eating, conversing, and basking in the sun, is somehow both hilarious and delightful to watch, until it carries them towards the inevitable conclusion.

The existential dread hits hard, the film filled with the connections, regrets, and melancholy that the characters relive and experience over the course of a few weeks. Martha’s deterioration is explored alongside the world’s descent into being unlivable, by the end presenting a picture of moving forward (amid, and despite it all). The meaty chunks of humor injected here and there make the fear of mortality go down — admittedly not totally smoothly, but at least with a strong gulp.

The Room Next Door opens exclusively at Ayala Malls Cinemas on Feb. 19.

D.M. Wenceslao earns spot in ATRAM SDG Fund for 2025

DMWAI.COM

LISTED PROPERTY DEVELOPER D.M. Wenceslao & Associates, Inc. (DMW) announced that it was included in the ATR Asset Management Group’s Philippine Sustainable Development and Growth Fund (ATRAM SDG Fund) for 2025.

This marks the third consecutive year that the property developer has been included in the ATRAM SDG Fund, DMW said in a regulatory filing on Monday.

The ATRAM SDG Fund is a unit investment trust fund that invests in the top 20 Philippine Stock Exchange (PSE)-listed companies, ranked for their integration of SDGs into operations and strategies under ATRAM’s rating framework.

DMW said the ATRAM SDG Fund has a year-to-date return of 17.61% as of December 2024.

“This strengthens our resolve to continue creating developments that balance economic growth with environmental stewardship and social responsibility,” DMW Chief Finance Officer Benigno A. Tatunay said.

DMW is an integrated property developer with business interests in land reclamation, construction, and real estate development.

On Monday, DMW shares rose by 1.9%, or ten centavos, to P5.35 per share. — Revin Mikhael D. Ochave

T-bill yields rise across the board on BSP pause

BW FILE PHOTO

THE GOVERNMENT fully awarded the Treasury bills (T-bills) it offered on Monday even as average yields rose across the board after the Bangko Sentral ng Pilipinas (BSP) left benchmark borrowing costs unchanged at its meeting last week.

The Bureau of the Treasury (BTr) raised P22 billion as planned from the T-bills it auctioned off on Monday as total bids reached P56.275 billion, almost thrice as much as the amount on offer and higher than the P50.113 billion in tenders seen on Feb. 10.

Broken down, the Treasury borrowed P7 billion as planned via the 91-day T-bills as tenders for the tenor reached P16.05 billion. The three-month paper was quoted at an average rate of 5.318%, rising by 19 basis points (bps) from the 5.128% seen at the previous auction, with accepted rates ranging from 5.18% to 5.398%.

The government also made a full P7-billion award of the 182-day securities as bids stood at P17.52 billion. The average rate of the six-month T-bill stood at 5.662%, 10 bps higher than the 5.562% fetched the previous week. Tenders accepted by the BTr carried yields of 5.58% to 5.695%.

Lastly, the Treasury raised the programmed P8 billion via the 364-day debt papers as demand for the tenor totaled P22.705 billion. The average rate of the one-year debt increased by 5.4 bps to 5.78% from 5.726% previously, with bids accepted having rates of 5.74% to 5.78%.

At the secondary market before the auction, the 91-, 182-, and 364-day T-bills were quoted at 5.1577%, 5.5641%, and 5.7431%, respectively, based on PHP Bloomberg Valuation Service (BVAL) Reference Rates data provided by the Treasury.

T-bill rates were higher across all three tenors on Monday due to the BSP’s decision to pause its easing cycle, a trader said in a text message.

“Pricing in of the cut prior to the Monetary Board meeting was massive for the short-term papers,” the trader said.

T-bill auction yields were on a steady decline since the start of the year on expectations of further monetary easing by the BSP and only corrected slightly higher at last week’s auction before the central bank’s first policy meeting for 2025, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort likewise said in a Viber message.

“The unexpected pause in cuts… somewhat disappointed markets that priced in a 25-bp cut,” Mr. Ricafort said.

“T-bill auction yields are now mostly unusually slightly higher versus the comparable short-term PHP BVAL yields but still the lowest in three months and mostly below the key policy rate of 5.75%, except for the 364-day tenor.”

He added that the rise in yields was slightly offset by signals of a cut in big banks’ reserve requirement ratios (RRR), as this would inject fresh liquidity into the financial system that could be placed in debt instruments.

The BSP on Thursday unexpectedly held benchmark interest rates steady as global uncertainties threaten the inflation and growth outlook.

The Monetary Board left the target reverse repurchase rate unchanged at 5.75%. Rates on the overnight deposit and lending facilities were also kept at 5.25% and 6.25%, respectively.

This marks the BSP’s first pause following three consecutive 25-bp cuts since it began its easing cycle in August 2024.

The decision took the market by surprise as 19 out of 20 analysts polled by BusinessWorld had anticipated a fourth straight 25-bp cut at Thursday’s meeting, and just one analyst expected the BSP to keep rates steady.

“Normally, we would have cut further, but something has changed. The thing that has changed is the uncertainty over what’s going on globally, especially the uncertainty over trade policy,” BSP Governor Eli M. Remolona, Jr. said after the meeting.

US President Donald J. Trump on Friday kept alive his drumbeat of tariff threats, saying levies on automobiles would be coming as soon as April 2, the day after members of his cabinet are due to deliver reports to him outlining options for a range of import duties as he seeks to reshape global trade, Reuters reported.

It was the latest in a litany of trade actions Mr. Trump has unveiled since taking office for the second time on Jan. 20.

Since his inauguration, he has imposed a 10% tariff on all imports from China, on top of existing levies; announced and then delayed for a month 25% tariffs on goods from Mexico and non-energy imports from Canada; set a March 12 start date for 25% tariffs on all imported steel and aluminum; and on Thursday directed his economics team to devise plans for reciprocal tariffs on every country that taxes US imports.

It has been a blur of orders that Mr. Trump has asserted will level the playing field for American goods abroad and reinvigorate a long-declining US manufacturing base but which have also sown confusion among businesses, irked long-standing US allies and stoked worries among consumers and economists about a renewed upswing in inflation.

Meanwhile, Mr. Remolona said the BSP could cut big banks’ reserve ratio to 5% from 7% within the year.

The central bank in October reduced the RRR for universal and commercial banks and nonbank financial institutions with quasi-banking functions by 250 bps to 7% from 9.5%.

On Tuesday, the BTr will offer P30 billion in reissued 10-year Treasury bonds (T-bonds) with a remaining life of eight years and 11 months.

The Treasury is looking to raise P203 billion from the domestic market this month, or P88 billion from T-bills and P115 billion from T-bonds.

The government borrows from local and foreign sources to help fund its budget deficit, which is capped at P1.54 trillion or 5.3% of gross domestic product this year. — A.M.C. Sy with Reuters

GREAT Women — It’s Women’s Month

FREEPIK

It will be Women’s Month again and I cannot help but look back at our journey while promoting the brand and its ethos: great women. The meaning was a mouthful to say: Gender Responsive Economic Actions for the Transformation of Women. And that spelled an acronym: GREAT.

After Global Affairs Canada or GAC ended the three-year program with the Philippine Commission on Women (www.pcw.gov.ph) or PCW in 2012, we asked then Country Director and Chief of Party Luke Myers what they would do to the “brand” or program name. He said, “do what you want to do with it.” And so we did. He probably did not foresee that GAC would be back with a round 2 of the program which had to be called Great Women Project 2, to simplify matters and so as not to confuse stakeholders.

Jeannie Javelosa (our culture advocate friend and business partner) and I pitched it to ASEAN women’s groups and we did a roadshow in Kuala Lumpur and Hanoi to get ASEAN women on the “Great Women” bandwagon. USAID supported this journey to make the “brand” a unifying force for women entrepreneurs in the ASEAN member states, even devoting a whole conference on it in Bangkok.

It was getting traction as we did cross border trainings and learning exchanges between and among ASEAN member countries. I remember taking ASEAN women coffee farmers to Manila and letting them experience tasting their own coffee — something they had never done before. We realized that eight out of 10 ASEAN member states (with the exception of Singapore and Brunei) were coffee-producing countries. And in coffee-producing states, women play a big role. We also formed the country chapters of the International Women Coffee Alliance (www.womenincoffee.org) in Vietnam, Indonesia, and Myanmar to join our Philippine chapter established back in 2012.

A year later, we even opened a brick-and-mortar store of Great Women as a marketplace proof of concept. But as with all other brick and mortar spaces, it fell victim to the pandemic closures of stand-alone stores. Thus, the pandemic brought us to the online space. Even if the store was closed due to COVID-19 restrictions, we carried on with e-commerce and doing training online.

Today, almost 13 years later, we find that the needs of MSMEs are the same as when we started in 2012, a good decade ago and more. Financial literacy, pivoting to another business model, and, as to coffee, still tasting and trying coffees from women producers and roasters. The next generation has joined their mothers, and this makes it more sustainable as we talk to the younger women on continuing the work started by their elders.

How can we finally solve the challenges facing women in the MSME space? This is where we get help from organized business groups, like the Philippine Women’s Economic Network (www.philwen.org) and the Philippine Business Coalition for Women Empowerment (www.pbcwe.com.ph). In the coming month of March, we start with a different kind of festival — The Great Women celebration of how networking with the business community can help MSMEs. I have been asked to do a masterclass on coffee. And that will jumpstart the events on Feb. 28.

If you’re wondering how coffee can be a business from farming to retail, like coffee shops, or how to get into a coffee-related enterprise, come and join our masterclass.

Jeannie Javelosa, who is also the Yuchengco Museum’s curator, has provided a space for us to engage with women and men who want to know more about Great Women, the brand, and how it has made strides here and in the region.

I look back and reminisce about Hanoi, Bangkok, and Kuala Lumpur and even (now troubled) Myanmar where we held a briefing for Asean MSMEs some years ago. We went to Phnom Penh and Yangon to meet weavers and story tellers, and even trekked to Mandalay to meet women in coffee.

It is still a viable networking tool for us — Great Women after all must transform women economically and otherwise. And though we avoid using the term “platform,” it functions as a model for a whole ecosystem of women in the value chains of coffee, weaving, and processed food. Because you cannot help just one woman. You need to nurture a whole community of producers and sellers, and the biggest market or consumers are also women, by the way.

This Women’s Month, let’s jumpstart it by understanding how women in networks or coalitions work like a well-oiled machine. Come and attend a masterclass for coffee. Or another business idea in travel or health and wellness.

Men are the champions of diversity and inclusion because they always use the quote, “behind every successful man is a woman,” as we also submit the idea of saying “behind every successful woman is a whole group of male champions — the spouses and partners, to begin with. Next are business partners, advisors, bosses and male leaders who are ‘champions of change’.”

We ask you, dear reader, man or woman, to open your minds and hearts to what women can do when networks work together.

In the Management Association of the Philippines (MAP), we have a Diversity, Equity, and Inclusion Committee (www.map.org.ph) as we also have such a group in the Institute of Corporate Directors (www.icd.ph) and other like-minded progressive business organizations. It’s about time we also checked corporate committees or management and executive committees to ensure there is diversity of gender and expertise, among other factors, that make a better board, and management groups.

For Women’s Month, let’s give a listen to what women discuss as their challenges in the workplace so our companies can be better attuned to these nuances and address them for sound management results in whatever scorecard we use.

What can you do for Women’s month?

 

Chit U. Juan is the co-vice chair of the MAP Environment Committee. She is also the president of the Philippine Coffee Board, Inc. and Slow Food Manila (www.slowfood.com).

map@map.org.ph

pujuan29@gmail.com

Entertainment News (02/18/25)

Viber launches Viber Dating in PHL

THE MESSAGING app Viber now offers Viber Dating, a new in-app feature that helps Filipinos meet real people. Viber Dating officially launched in the Philippines on Valentine’s Day, making it the first communications app to offer a moderated dating solution. “Unlike other dating apps, when you meet someone special through Viber Dating, you can smoothly transition to Viber’s main app, where you can keep the conversation going and continue building your connection in a secure and private space,” Viber said in a statement. Its advantage is “end-to-end encryption,” with messages not stored in its servers once delivered. Users’ dating profiles will also be strictly separate from their primary Viber accounts, and only visible to other Viber Dating users, in a separate tab from the main conversations.

Orange & Lemons’ Carpenters cover

FILIPINO band Orange & Lemons has marked the season of romance with a fresh take on The Carpenters’ timeless classic “Close To You.” Released in time for Valentine’s Day, the band’s cover brought a modern twist to the track while preserving its emotional essence. The origins of the cover dates back to 1999, when the Bulacan-based band was preparing the material for their debut album. They are also gearing up for an international tour, visiting five cities across Asia and North America: Singapore on March 2, Toronto on May 30, New York on May 31, San Francisco on June 6, and Los Angeles on June 7. Orange & Lemons’ “Close To You” is out now on all digital music platforms worldwide via Lily Stars Records.

Gabbi Garcia named PBB Host

GMA NETWORK has announced that Sparkle artist Gabbi Garcia is the first-ever “Kapuso” host of the Pinoy Big Brother (PBB) Celebrity Collab Edition. Ms. Garcia, who once auditioned and failed to get into the 2012 edition of PBB, said she is excited to host this year, according to a statement. Her previous hosting stints include Miss Universe Philippines 2024 and the Metro Manila Film Festival 2024 Gabi ng Parangal.

J-pop ONE OR EIGHT remix features Felip, thủy

RISING Japanese boy band ONE OR EIGHT has unveiled the third and final remix version of their hit track “KAWASAKI.” This time, it is a collaboration with Felip (a.k.a. Ken of Filipino P-pop boy band SB19) and Vietnamese-American R&B singer-songwriter thủy. The cross-border remix features trap beats that underscore Felip’s signature deep vocals and rap delivery along with thủy’s sultry voice. The result is a fusion of R&B and hip-hop. The remix is out now on all digital music streaming platforms.

Korean actress Jisoo releases debut mini album

SOUTH KOREAN singer and actress Jisoo has dropped her debut mini album AMORTAGE via Warner Records. The project includes her lead single “earthquake” and its accompanying Christian Breslauer-directed music video. The album includes two English-language and two English-and-Korean tracks. The album title is a fusion of “amor” and “montage,” leaning into the emotional stages of love and the many moments of a relationship. It is out now on all digital music streaming platforms worldwide.

Marc Nelson meets nature heroes in new season

INDIVIDUALS and groups behind innovative climate-friendly projects take center stage in the new season of Sustainable Living, airing on Metro Channel on Sundays at 8 p.m. Done in partnership with First Philippine Holdings, the show features eco-tourism spots, sustainable products, and innovative solutions meant to inspire lifestyle changes for the good of the environment. Some guests this season are Jordy Navarra of Toyo Eatery, a sustainable restaurant that champions responsible and eco-friendly practices in the food industry; David Esteban of the Earth School in El Nido, Palawan, a bamboo-built pioneer of eco-conscious education; and Cherrie Atilano, founder of AGREA Agricultural Systems International, Inc., which aims to help farmers and fishers, alleviate the effects of climate change, and establish food security. Sustainable Living: Heroes of Sustainability airs every Sunday at 8 p.m. on Metro Channel.

Ben&Ben’s new single arrives on streaming platforms

TO CELEBRATE the season of love, Filipino pop band Ben&Ben has released the new single, “Tomorrow With You,” now available via Sony Music Entertainment. The song explores the resilience of love in the face of life’s uncertainties, emphasizing the importance of taking each day as it comes. It is inspired by the people who shaped and impacted their journey as individuals and as a band, Ben&Ben said in a statement. The release of the track is accompanied by an audio bundle, which includes a live and a studio version, allowing listeners to enjoy both versions back-to-back. It is out now on all digital music streaming platforms.

Pixar’s Win or Lose to premiere on Disney+

THE first two episodes of Pixar Animation Studios’ TV show Win or Lose will be arriving on Disney+ on Feb. 19. It is Pixar’s first-ever original series, featuring the intertwined stories of eight different characters as they each prepare for their big championship softball game. Its voice stars are Will Forte, Josh Thomson, Dorien Watson, Izaac Wang, Chanel Stewart, Lil Rel Howery, Melissa Villaseñor, Flula Borg, Kyleigh Curran, Jaylin Fletcher, Erin Keif, Tom Law, Beck Nolan, Orion Tran, and Rhea Seehorn. Directed and written by Carrie Hobson and Michael Yates, and produced by David Lally, the series also features music by composer Ramin Djawadi.

Munimuni to headline Philippine tour next month

FILIPINO indie band Munimuni will embark on a Philippine tour next month as part of the campaign to promote their third full-length album, Alegorya, which was released in 2024. The first part of the tour will see concerts across Luzon, Visayas, and Mindanao: Baguio, La Union, Metro Manila, Lucena, Cebu, Cagayan De Oro, and Davao. Co-produced and co-organized by GNN Entertainment Productions, the tour will feature long sets by the five-piece band and will be supported by guest acts representing each city. The tour has also partnered with Filla Killa, Indie CDO, Holodeck Productions, Alpas, Film and Print, and Whitebox Collective, to bring the tour outside of the capital. The folk-pop quintet will be performing songs off their latest album, along with some fan favorites.

Action thriller G20 slated for Prime Video release

THE Viola Davis-starrer G20 will be arriving on Prime Video on April 10, the platform revealed this week. It follows Ms. Davis as US President Danielle Sutton, who becomes a target when the G20 summit comes under siege. After evading capture by the attackers, she must outsmart the enemy to protect her family, defend her country, and safeguard world leaders. This R-rated action-packed thriller is directed by Patricia Riggen. Co-stars include Anthony Anderson, Marsai Martin, Ramón Rodríguez, Douglas Hodge, Elizabeth Marvel, Sabrina Impacciatore, Christopher Farrar, and Antony Starr.

Hans Zimmer’s music live at Metropolitan Theater

THIS JULY, the Hollywood Orchestra will be presenting The Music of Hans Zimmer & Others, a live concert celebrating the timeless and iconic film scores of the legendary composer. It will be held on July 7 and 8 at the Manila Metropolitan Theater. Among the movie themes to be performed are Pirates of the Caribbean and Inception, Interstellar, Gladiator, and The Lion King. The music will be accompanied by select film clips, shown through illumination and laser projections. The concert is made possible through the collaboration of KBEAM Events and Star Entertainment.

How to Train Your Dragon live adaptation set for June

FANS of the 2010 DreamWorks animated film How to Train Your Dragon will be able to visit the Isle of Berk once more in the live adaptation of the same name coming to big screens this year. Like the original, it chronicles the feud between Vikings and dragons being challenged by a friendship between the young human Hiccup and his newfound dragon friend Toothless. The cast is composed of Mason Thames, Gerard Butler, Nico Parker, Nick Frost, Julian Dennison, Gabriel Howell, Bronwyn James, Harry Trevaldwyn, Ruth Codd, Peter Serafinowicz, and Murray McArthur. The film is written and directed by Dean DeBlois. It comes to Philippine cinemas on June 11.

Manila Water completes segment of P7.4-B Mandaluyong sewer project

EAST ZONE concessionaire Manila Water Co., Inc. said it is on track to complete its P7.4-billion Mandaluyong West-San Juan and South Quezon City Sewerage Network Project (MandaWest Sewer Network Project) by 2037.

The company has completed the construction of the P103.6-million Mandaluyong West-San Juan Network Package 2A-1 (MandaWest Package 2A-1), it said in a media release on Monday.

The project segment involved the laying of 520 linear meters of 900mm-diameter main pipeline running along Ilino Cruz, C. Dela Cruz, Catacutan, and J.P. Rizal Streets in Brgy. Vergara, Mandaluyong City.

“Milestones in our sewer network expansion, such as the completed MandaWest Package 2A-1, bring us closer to our goal of providing a more sustainable wastewater and sanitation service to our customers,” said Jeric T. Sevilla, Jr., Manila Water communication affairs group director.

MandaWest Package 2A-1 is part of the company’s MandaWest Sewer Network Project, which will benefit over 700,000 customers in Mandaluyong, San Juan, and Quezon City.

The massive sewage infrastructure will consist of a 53-kilometer sewer connected to a 60-million-liter-per-day (MLD) sewage treatment plant, which is expandable to a capacity of 120 MLD.

“By ensuring that customer wastewater is appropriately collected and processed before being released into waterways, Manila Water continues to support government sustainability initiatives such as the Clean Water Act and the Supreme Court Mandamus for the Rehabilitation and Protection of Manila Bay,” the company said.

Manila Water provides water supply, wastewater, and sanitation services to over 7.3 million customers in 23 cities and municipalities in the east zone of Metro Manila and Rizal province. These include Mandaluyong, Makati, Pasig, Pateros, San Juan, Taguig, Marikina, and parts of Quezon City and Manila. The towns of Angono, Baras, Binangonan, Cainta, Cardona, Jalajala, Morong, Pililia, Rodriguez, Tanay, Taytay, Teresa, San Mateo, and Antipolo in the province of Rizal are also part of the east zone. — Sheldeen Joy Talavera

AUB net income climbs 36% in 2024

ASIA United Bank Corp. (AUB) saw its consolidated net income increase by 36% year on year to P11.3 billion in 2024, mainly driven by double-digit loan growth.

This translated to a return on equity of 21% and a return on assets of 3%, up from 18.6% and 2.4% last year, respectively, it said in a disclosure to the stock exchange on Monday.

The bank noted that the 36% growth in its net profit last year represents a 21% compounded annual growth rate since it was listed in 2013. Its financial statement was unavailable as of press time.

“We have managed to sustain the growth in our profitability since the pandemic, thanks to our robust core business and digital partnerships,” AUB President Manuel A. Gomez said.

AUB’s revenue growth last year was backed by an 11% increase in its net interest income to P16.8 billion, driven by higher interest earnings from loans and investment activities. Its interest expense on deposits also slipped by 3%.

This caused its net interest margin to rise to 5% last year from 4.8% in 2023.

The bank saw a 26% increase in its loan portfolio to P245.4 billion at end-2024 from P194.5 billion the year prior.

“Despite the loan growth, its asset quality further improved, with its nonperforming loan (NPL) ratio at a record low of 0.3% and loan loss provision reduced by 74%. The bank remains sufficiently covered, with an NPL coverage ratio at 113.7%, higher than previous year’s 107.9%,” AUB said.

It added that low-cost current account, savings account or CASA deposits made up 71% of its total deposits last year.

AUB’s non-interest income rose by 48% to P4.1 billion, which it attributed to “improved foreign exchange gains, recovery income, and service charges and other fees from other operating activities.”

Meanwhile, its operating expenses increased by 6% to P6.8 billion last year amid higher compensation, capital expenditures, and business growth-related expenses.

“The bank continues to exhibit efficient resource management in its business generation as evidenced by its 32.8% cost-to-income ratio, even lower than the previous year’s 36.2%,” it said.

AUB’s assets expanded by 9% year on year to P386 billion at end-2024.

Total equity also rose by 19% to P58.4 billion.

Its indicative common equity Tier 1 ratio was at 17% last year, up from 16.9% in 2023. Its capital adequacy ratio also improved to 17.8% from 17.5%.

AUB shares climbed by P1.40 or 1.81% to close at P78.80 each on Monday. — BVR

Trump’s phone call with Putin is causing a stir in Taiwan

FREEPIK

ONE PHONE CALL does not a treaty make, but President Donald Trump’s conversation with Russia’s Vladimir Putin on ending the war in Ukraine is worrying Taiwan. China will watch developments for any hint on whether a resolution spells a similar future for the self-ruled island Beijing claims as its own.

Taiwan’s President Lai Ching-te’s government should consider what it can offer Trump to avoid becoming a pawn in the US-China rivalry. It’s a delicate balance: Appeasing the US leader doesn’t only mean figuring out what he wants, but interpreting how American policy toward the island might be changing.

The US State Department updated language on its website recently to remove a line that stated: “We do not support Taiwan independence.” The last time the same fact sheet cut the sentence was in May 2022, under former President Joe Biden’s administration. It was reinstated about a month later, following protests from China.

Figuring out what Trump wants is a lesson Ukraine’s Volodymyr Zelenskiy is learning in real time. The phone call between the US and Russian leaders last week upended years of American policy, with some diplomats describing it as a sellout, and accusing the US leader of giving in to Russia’s key demands even before negotiations have begun. Trump spoke to Zelenskiy too, but notably, only after Putin.

For the US president, it’s simple — it’s partly about money. Estimates from Bloomberg Economics show that protecting Ukraine and expanding their own militaries could cost Europe’s major powers an additional $3.1 trillion over the next 10 years, a cost the Trump administration no longer seems willing to help bear. Since the Russian invasion of Ukraine in February 2022, the US has committed approximately $56.3 billion in security assistance. Trump has also previously said that he wants to recoup the money Washington has spent on the conflict by securing $500 billion in mineral rights from Ukraine.

Ukraine provides a useful foil for Taiwan. Taipei is also dealing with the threat of a mightier power on its doorstep — one that has consistently talked about unifying with it, by force if necessary. The island’s leaders have been vocal in their support for Ukraine, but also used it to convince their own voters that they can’t afford to be complacent in the face of Chinese aggression. Beijing has been flying a record number of warplanes across a US-drawn boundary in the Taiwan Strait, and launched drills in the waters around the island. That’s prompted Taipei to announce increases in army spending, and extend military service for eligible males.

For decades, Taiwan has been dependent on American defense equipment, deterrence, and diplomacy, and has needed Washington’s policy of “strategic ambiguity” to maintain the status quo. This approach was designed to signal to Beijing that if there was an unprovoked attack, America would get involved. Biden had insinuated on more than one occasion that the US would come to Taipei’s defense.

Under Trump, there are no such assurances. Chieh-Ting Yeh, a venture investor and a director of US Taiwan Watch, told me that any agreement with Putin over Ukraine highlights how the president sees himself first and foremost: as a dealmaker. “There’s a lot of anxiety in Taiwan about what to cram into the gift package being offered to Trump,” Yeh told me. “There will always be the possibility it’s on the table for a deal with China, and this is something President Lai Ching-te needs to take a realistic look at, in terms of how to deal with the president.”

Domestically, Lai’s got a full plate. The three main political parties are blaming each other for the island’s deepening divisions. The defense budget, in particular, is proving to be problematic, with the opposition China-leaning Kuomintang party blocking increases in spending. Lai has been unable to break through the ceaseless political gridlock, despite Beijing’s growing military actions, and Trump’s public demands to invest more in its own security.

Trump is also unhappy with Taiwan’s record-level trade surplus, and has complained that the island “stole” America’s semiconductor industry. He’s threatened heavy tariffs, insisting future production capacity should be housed in the US.

Taipei is already looking to address the tariffs. In a hastily convened press conference on Friday, Lai said a special budget will be used for military spending, lifting it to above 3% of GDP. He also said the island will expand investment in the US and buy more goods from there. Meanwhile, the deputy economy minister has been putting forward Taipei’s position to US officials last week. And Taiwan Semiconductor Manufacturing Co.’s board met in Arizona for the first time, another sign of its commitment to making chips in the US.

These are important steps, but the island should also make use of its existing friends it has in the Trump cabinet, many who appear strongly supportive of its right to exist. Secretary of State Marco Rubio and Secretary of Defense Pete Hegseth have both publicly stated that their commitment to Taiwan’s defense is non-negotiable.

But whether the president is as committed is unclear. He has dithered over whether he would step in if China were to invade. Elon Musk, the billionaire leading Trump’s government cost-cutting efforts and a close adviser, has previously argued Americans shouldn’t be drawn into the conflict.

That we are reduced to a state of global geopolitics where the fate of places like Ukraine and Taiwan are effectively bargaining chips speaks to the transactional times we live in. Trump’s game is clear. Taipei should play the best hand it can.

BLOOMBERG OPINION

Oscar winner Bong Joon Ho says Mickey 17 demagogue not drawn from present leaders

Mark Ruffalo plays the dictator in Mickey 17.

BERLIN — South Korean director Bong Joon Ho’s villain in Mickey 17, a demagogic politician played by Mark Ruffalo, was based on past dictators, but might seem familiar to viewers because “history always repeats itself,” the Oscar winner said in Berlin.

“He has, in a comical way, all the faces of the bad politicians we’ve experienced,” he told journalists via a translator on Saturday at the Berlin Film Festival.

Mr. Bong made history at the 2020 Oscars when Parasite, a dark social satire about the gap between rich and poor in modern Seoul, became the first non-English language film to win the best picture award, the US movie industry’s highest honor.

His new sci-fi dark comedy starring Robert Pattinson is being shown in the festival’s Special non-competition section.

“I made this character drawing my inspiration from the past, and as history always repeats itself, it might seem like I’m referring to someone in the present,” Mr. Bong said.

Based on the novel Mickey7 by Edward Ashton, the film follows Mr. Pattinson as the working-class Mickey Barnes, who unknowingly signs up to make his living by repeatedly dying.

“Although it’s a story of the future, it seems like a story that could happen in the present or the past,” Mr. Bong said.

For young people in the audience, what is now science fiction could one day be a situation they experience, he said.

The director added that Mickey 17 is his first love story, and that it was his life goal to make films of all genres, with one possible exception.

“I am a bit scared of musicals,” he said.

Mickey 17, which also stars Toni Collette, Naomi Ackie and Steven Yeun, begins its cinema rollout on February 28 in South Korea and other countries including the Philippines from March 5. — Reuters

Converge, St. Luke’s partner for in-room digital concierge

PHILIPPINE STAR/JOHN NICOLE VILLAMAYOR

LISTED fiber broadband and technology provider Converge ICT Solutions, Inc. has partnered with St. Luke’s Medical Center (SLMC) to launch an in-room digital concierge to improve patient experience through digital solutions.

“With a focus on patient-centered care and our mission for excellent digital experiences, this partnership will really set the standard for patient hospitality in the healthcare industry,” Converge Chief Executive Officer (CEO) Dennis Anthony H. Uy said on Monday.

On Monday, Converge announced its partnership with St. Luke’s Medical Center to launch the in-room digital concierge powered by its Fiber-to-the-Room (FTTR) technology, which will allow over 400 rooms at St. Luke’s Bonifacio Global City (BGC), Taguig, to benefit from this digital solution.

The digital solutions, described as revolutionizing the patient experience, will transform SLMC’s rooms into smart rooms. This will provide patients access to eHealth records, entertainment, billing, and interactive features via Smart TV from their hospital rooms.

SLMC will also expand its partnership with Converge, bringing the digital solutions to other branches of the hospital, SLMC President and CEO Dennis P. Serrano said.

“You can be sure that whatever gains we have made in the two hospitals, we’re going to translate that also into the third hospital,” Mr. Serrano said, adding that the activation for SLMC Quezon City is currently in the works.

“Yes, this agreement, as it exists, is for both Global City and Quezon City,” he added.

SLMC Parañaque, which is expected to commence operations by 2029, also stands to benefit from this digital technology, Mr. Serrano said.

“The FTTR solution was deployed to over 400 rooms in St. Luke’s Medical Center, BGC, and nearly 400 rooms in SLMC Quezon City are underway for activation. This is in addition to the high-capacity, seamless Wi-Fi provided by Converge in all the common areas of both hospitals,” Converge said in a media release.

To recall, Converge has also launched its Converge Concierge platform in partnership with Sky Cable, Inc. for The Manila Hotel.

The company has said that it seeks to enhance guest experience and improve the operational efficiency of local hotels through its offerings. — Ashley Erika O. Jose

1...1,9541,9551,956...14,215Page 1,955 of 14,215
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin X Youtube