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Entertainment News (02/16/24)

Podcast series chronicles a century through JPE’s life

A TIMELY podcast series, 100 Years of Juan Ponce Enrile and the Philippines, has just dropped on Spotify, Apple Podcasts, YouTube, and other major podcasting platforms. It is an immersive audio experience that takes listeners through pivotal moments of Philippine history through the lens of Juan Ponce Enrile’s (JPE) extraordinary life. From his impoverished beginnings in Gonzaga, Cagayan, to his rise as one of the most influential and controversial figures in modern Philippine history, Mr. Enrile is a compelling Filipino subject. The first episode was released on Feb. 14, on his 100th birthday, and the second and final episode will drop on Feb. 21, on the eve of the anniversary of the EDSA People Power revolution that Mr. Enrile helped instigate. The podcast is produced by PumaPodcast, in cooperation with Probe Archives that provided historical milestones through sound effects, music, and archival radio reports.

Multi-awarded film Poor Things now in PH cinemas

GOLDEN Globe winner Emma Stone stars in the fantastical film Poor Things, directed by Yorgos Lanthimos. The film is now showing in Philippine cinemas nationwide. The quirky, dark comedy offering was previously screened in the Philippines during the QCinema International Film Festival in November 2023. Nominated for 11 Academy Awards, it was adapted from a Victorian Glasgow-set novel by Alasdair Gray. Poor Things chronicles the transformation of Bella Baxter (Ms. Stone), a young woman who has been brought back to life and finds herself under the protection of the unorthodox scientist Dr. Godwin Baxter (Willem Dafoe) and the wily charisma of Duncan Wedderburn (Mark Ruffalo). She decides to follow the latter on a whirlwind adventure across continents.

Dune: Part Two teased in hot air balloon fest

AT THE 24th Philippine International Hot Air Balloon Fiesta in New Clark City, Tarlac — taking place from Feb. 16 to 18 — the film Dune: Part Two will have a hot air balloon booth. Guests can have their photos taken at its booth and take home premium souvenir items. The film explores the mythic journey of Paul Atreides (played by Timothée Chalamet) as he unites with Chani (Zendaya) and the Fremen while seeking revenge against the conspirators who destroyed his family. Directed by Denis Villeneuve and based on Frank Herbert’s novel, it is set to open in Philippine theaters on Feb. 28. For more information about the 24th Philippine Hot Air Balloon Fiesta, visit https://www.balloonfiesta.ph/.

BAFTAS 2024 to stream via Lionsgate Play

WHILE the US has the Academy Awards and The Golden Globes, the UK has the British Academy Film Awards, known as the BAFTAs. This awards ceremony recognizes the best in British and international film talent, and this year, Filipino film enthusiasts will be able to watch it live, as Lionsgate Play will be bringing the 2024 BAFTAs straight to their screens in real time. The show, hosted by actor David Tennant, will be held on Feb. 18, 7 p.m. in the UK, which translates to Feb. 19, 3 a.m., in the Philippines, where it will be shown via Lionsgate Play. The entire program will also be available for streaming on-demand for those who want to watch it later.

Vaultboy to perform in Manila in June

AMERICAN singer-songwriter and hitmaker Vaultboy is coming to Manila for the first time on June 13 at the Podium Hall. Tickets go on sale on Feb. 23 at noon. via SMTickets.com and SM Tickets outlets. It is presented by Eventim Live Asia and Wilbros Live. Vaultboy is currently rolling out his debut album which will land in full in 2024 followed by the international tour.

BLACKPINK’s LISA joins The White Lotus S3

THAI singer, rapper, and dancer Lalisa Manobal, better known as LISA from Korean girl group BLACKPINK, has joined the previously announced cast of The White Lotus season 3. The third installment of the Emmy-winning HBO Original series by Mike White will begin production in and around Koh Samui, Phuket, and Bangkok in February and will follow a new group of guests at another White Lotus property. HBO has partnered with the Tourism Authority of Thailand to support the filming and promotion of the third installment. The first season premiered in July 2021 and was set in Hawaii, while the second season, which premiered in December 2022, was set in Sicily. The entire The White Lotus series is available on HBO GO.

Closeup’s iconic song brought back

TOOTHPASTE brand Closeup has released a fresh rendition of the iconic song “Closer You and I,” originally performed by OPM great Gino Padilla in 1992, reimagining it as a music video with the voice of the singer Adie and the love team of Donny Pangilinan and Belle Mariano (known as DonBelle). It is now available to listen to and watch online.

URC breaks ground for mega production plant in Batangas

GOKONGWEI-LED Universal Robina Corp. (URC) has broken ground for its new mega production plant in Malvar, Batangas, as part of expanding the company’s production capacity.

The construction will commence this year, with expansion expected to occur over a period of 10 to 15 years, the company said in a statement on Thursday.

URC President and Chief Executive Officer Irwin C. Lee said the Malvar plant will produce many of the company’s products to be introduced in the coming years.

Upon its completion, the Malvar plant will cover a 30.7-hectare area and will provide employment to approximately 3,000 workers, both directly and indirectly, the company said.

“The manufacturing lines to be installed in Malvar will incorporate design improvements that will further reduce material resource inputs, production wastage, labor efforts, and energy as well as water consumption,” Mr. Lee said.

“We look forward to doing our part in economic development and nation building by providing jobs to the residents of Malvar, and the rest of the country, with the full build-out of this manufacturing facility,” he also said.

On Thursday, URC shares climbed by 2.07% or P2.40 to P118.30 apiece. — Revin Mikhael D. Ochave

Upscale sustainable living in Alabang with Botanika Nature Residences

Actual photo of Botanika Tower 1 Atrium

Living in the south of Metro Manila is a unique experience that is filled with comfort and convenience. The area is known for its exclusive villages, upscale retail establishments, and vast green spaces, making it a sought-after location for those who wish to live the urban lifestyle in a more relaxed, suburban setting.

Alabang in Muntinlupa has always been one of Metro Manila’s most affluent neighborhoods. Transforming this southern residential landscape is the presence of the metro south’s garden city, Filinvest City. It elevated the living experience of the people residing in the surrounding gated communities, more so those who made the green CBD their backyard by taking root in one of the high-end residential condos inside the garden city.

Located in the most exclusive portion of Filinvest City is Botanika Nature Residences by Filigree. This three-tower condominium development offers generous living spaces akin to single detached homes but in a vertical village setting. Botanika’s prime location allows residents easy access to everything they need from shopping centers to restaurants, parks, and other recreational facilities while still enjoying the exclusivity and prestige that comes with their city address.

Distinct design

One of the defining features of Botanika Nature Residences is its unique and iconic leaf-shaped structure and terraced layout. It is a collaborative masterpiece between four design firms: Architecture International of California, Leandro V. Locsin Partners, AECOM Singapore, and Miaja Design Group of Singapore.

The landscaped atrium at the core of the towers blurs the boundaries between indoors and outdoors as it allows natural light and ventilation to stream in, nurturing the lush central space. The wide-apart terraced layout also provides a breathtaking view of the surrounding landscape, allowing residents to enjoy the beauty of nature from the building.

Marrying the form and function of a well-designed building with the benefits of sustainability, Botanika residents enjoy the luxury of living in a green, generously sized, and resort-inspired home.

Vertical village living

Actual model unit photo of Two Botanika 3BR Premier

Designed to provide a perfect blend of luxury and nature, Botanika Nature Residences Tower 1 offers exquisite and spacious move-in ready units curated to cater to the most discerning tastes of affluent families, retirement seekers and empty nesters who want to experience a more exclusive and comfortable lifestyle in a condominium setting.

Carefully crafted with an unwavering commitment to excellence, Botanika Tower 1 stands as a testament to the art of refined living. Each meticulously designed unit is equipped with top materials and finishes featuring Baldocer tiles imported from Spain, Apo engineered wood flooring, and Quartz countertop, ensuring an unparalleled everyday experience of sophistication and comfort. Whether basking in the seamless elegance of indoor spaces or unwinding on the expansive balconies, residents are treated to panoramic views of lush landscaped gardens, amenities, and vibrant greenery of Filinvest City, a home to many different bird species.

Beyond its lavish interiors, Botanika Tower 1 offers an array of world-class amenities designed to elevate every facet of daily life. Take a relaxing nature stroll through the landscaped gardens by AECOM Singapore, or delight in quality family time at the children’s play area. For those seeking relaxation and rejuvenation, the tiered swimming pool provides the perfect retreat, enveloping residents in a tranquil oasis of serenity.

Botanika has exclusive access to The Palms Country Club, the Philippines’ first country club to join the International Associate Club. This esteemed affiliation grants Botanika residents, with The Palms membership, access to a curated selection of over 250 private membership clubs worldwide, ensuring unparalleled privileges and country club living experiences.

A growing community

Artist’s perspective of Two Botanika’s wide unit balconies

Botanika Nature Residences is further expanding its options with the development of its pre-selling tower, Two Botanika. With units designed by New York-trained expert Tina Periquet, Two Botanika provides efficient space planning that allows future residents the to enjoy the luxury verdant ambiance.

Two Botanika promises a “lanai” living experience with its sizable balconies that serve as an extension of the living area, linking to the lush outdoors. This integral space in every unit can be utilized for various purposes, such as a fitness deck, lounge area, or pocket garden where every resident can relax and unwind with nature.

Another exciting feature of Two Botanika is its one-bedroom units, expanding its community to young professionals, small families, and even single individuals who are looking for an exclusive and elevated lifestyle in the city.

For those who require more space, Two Botanika also offers 3-bedroom and 4-bedroom units with grand lanais. These units provide more spacious living areas perfect for big families.

With its line garden, fully equipped gym, and sky lounge, Two Botanika’s development will complement the amenities of Tower 1 and the overall resort-inspired design of the entire Botanika Development.

Proven excellence

Artist’s perspective of Botanika Nature Residences

Botanika is one such outstanding example of sustainable living. The property has been awarded a distinguished 4-star Certified Green Residential Building Project (Country Leader) from Building for Ecologically Responsive Design Excellence (BERDE) and a certified 3-Stars (Exemplar Performance) under the Philippine Green Building Council (PHILGBC) Health and Well-being for Buildings program.

The property has also been recognized for its excellence in the industry, receiving the Best Sustainable Development award at the esteemed Asia Pacific Property Awards 2020-2021. Additionally, Botanika was awarded the title of Best in Architecture of Mid-Rise Residential for 2023-2024.

The property’s success in earning certifications and awards is a testament of the developers’ commitment to providing a sustainable, comfortable, and luxurious living experience for residents. This dedication to sustainability and environmental conservation sets a standard for upcoming residential developments in the country.

 

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Sustainable lifestyles in high-end homes

Photo by studiogstock on Freepik

The world of real estate is always evolving, and the luxury segment is no exception, especially with a heightened focus on modern homes with hotel-quality style, advanced technology, health and wellness features, and green spaces, among others.

Colliers Philippines, a real estate investment and management company, says that the rising demand for luxury homes is attracting many investors and homeowners, which is driving the growth of the residential sector.

“Colliers believes that this expansion is likely to spur growth in economic centers outside of Metro Manila, which should likely guide property firms’ development plans. The growing acceptance for condominium living, attractiveness of condo properties as a hedge against inflation, and rising purchasing power of investors have been compelling property firms to launch luxury condominium projects outside Metro Manila,” Colliers said.

2024 marks another remarkable year for luxurious living as it transforms lifestyles by bringing forth new trends, particularly on innovation and sustainability, which is set to elevate the quality of life among Filipinos. But how is luxury real estate being transformed into sustainable spaces?

From starting as a fad, green living is now becoming a necessity for many. Through the adoption of innovation and green technologies, real estate is revolutionizing the environment by placing sustainability at the forefront, while combining practicality and aesthetic appeal within these homes.

“Sustainable luxury homes are residences that prioritize environmental sustainability without compromising on luxury. These properties incorporate energy-efficient technologies, sustainable materials, and intelligent systems to offer the pinnacle of modern living while significantly reducing their carbon footprint,” Canada-based real estate consultancy The McKelvie Group said on its website.

Moreover, according to the recent “Luxury Outlook” report by Sotheby’s International Realty, there will be a significant demand for sustainable homes in the luxury housing market this year. The report highlighted a shift in consumer preferences that lead to sustainability.

As more people pursue balanced lifestyles, luxurious homes are now much more than a place to live; they are becoming personal sanctuaries that provide comfort and support one’s health, whether physically, mentally, or emotionally.

“A luxury-hotel stay is the ultimate sensory escape. So, it’s no wonder homeowners and designers alike are looking to hotels for their home-design cues,” stated the Luxury Report.

“Private residences are infusing both a sanctuary-like feel to attend to self-care needs as well as an element of leisure to everyday living,” it added.

The luxury segment is taking this to the next level by using sustainability as the key to reconnecting residents to the environment.

“These homes represent the confluence of cutting-edge technology, eco-friendly design principles, and modern luxury aesthetics. They embody the belief that responsible living doesn’t necessitate a compromise on comfort or elegance. Instead, sustainable luxury homes showcase that with innovation, these two seemingly contrasting ideals can harmoniously coexist, setting a gold standard for future residential architecture,” The McKelvie Group said.

Luxury homes are being transformed into hotel-like spaces, creating an environment that fosters health and wellness. These homes use environment-friendly materials, renewable energy sources, and eco-friendly designs that promote energy efficiency and reduce carbon footprint. By seamlessly combining luxury and eco-centric living, these homes establish a new standard for holistic and sustainable lifestyles.

In particular, the eco-friendly materials being used in building sustainable luxury homes are not only strong and durable but also help minimize impact on the environment. By using these kinds of materials, The McKelvie Group explained, sustainable luxury homes are preserving the environment while also building beautiful architectural home designs.

Smart home systems are also enhancing luxury lifestyles, for instance, by providing better security and energy consumption in the home.

“Whether adjusting the thermostat remotely or monitoring security on a smartphone, intelligent systems enhance comfort, security, and efficiency, all at the touch of a button,” The McKelvie Group shared.

Another striking feature of sustainable luxury homes is its energy efficiency. These homes use renewable energy sources, including solar panels, geothermal heating, and smart appliances to make sure energy is used wisely and efficiently. These renewable energy resources help in reducing costs and saving the environment.

Water conservation is another advantage in such homes. Innovative water features elevate the sustainable lifestyle while making sure every drop of water is used wisely. Aside from energy consumption, luxury homes include innovative water features such as rainwater harvesting systems and drought-resistant landscape, among others.

“Today, the epitome of upscale living is not just about owning a sprawling mansion in an exclusive neighborhood. It’s about the intelligent integration of sustainability into the heart of home design. The modern affluent homeowner seeks a space that’s not only a testament to sophisticated living but also reflects a commitment to the planet. This conscious evolution has given rise to the concept of sustainable luxury homes,” The McKelvie Group said. — Angela Kiara S. Brillantes

2023 Philippine financial system resources expand

Bangko Sentral ng Pilipinas main office in Manila. — BW FILE PHOTO

THE TOTAL RESOURCES of the Philippine financial system went up in 2023, mainly driven by higher banking resources, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed.

Based on central bank data, resources of banks and nonbank financial institutions grew by 7.6% to P31.056 trillion in 2023 from P28.864 trillion in 2022.

Banking resources rose by 8.6% to P25.859 trillion in 2023 from P23.807 trillion a year prior. Banks include universal and commercial, thrift, digital, and rural and cooperative lenders.

Universal and commercial banks held P24.263 trillion of total banking resources, 8.4% higher than P22.376 trillion in 2022.

Resources of thrift banks likewise went up by 7% to P1.1 trillion from P1.028 trillion a year ago.

Total resources of digital banks stood at P91 billion in 2023. The BSP’s consolidated data for digital banks were first released in March 2023. The six online banks that secured licenses to operate in the country were Tonik Digital Bank, Inc.; GoTyme Bank Corp.; Maya Bank, Inc.; Overseas Filipino Bank; UNObank; and UnionDigital Bank.

Meanwhile, rural and cooperative banks’ resources stood at P404 billion as of end-March 2023, increasing by 12.5% year on year.

Nonbanks’ resources also grew by 5.9% year on year to P5.197 trillion as of end-June 2023.

The central bank has not released updated data for rural lenders and nonbanks.

Nonbank financial institutions 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 nonbanks.

The expansion in the financial system’s total resources in 2023 is faster than the gross domestic product growth of 5.6% seen last year, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort noted in a Viber message.

The increase in banking resources can be attributed to the continued recovery of industries following the coronavirus pandemic, especially amid the pickup in foreign and local tourism, Mr. Ricafort said.

“Relatively higher US and local interest rates also increased interest income and spreads or margins, leading to faster growth in (bank) earnings,” he added.

The BSP raised its policy rate by 450 basis points (bps) from May 2022 to October 2023 to 6.5%, the highest level in 16 years. It is widely expected to keep borrowing costs steady in the first semester amid lingering inflation risks.

Better asset quality, profitability, and capitalization of banks also contributed to the faster growth in their total resources, Mr. Ricafort added.

The net income of the banking industry rose by 14.4% to P354.93 billion in 2023 from P310.12 billion in 2022.

Outstanding loans disbursed by big banks climbed by 7% to P11.701 trillion at end-December.

Meanwhile, the banking industry’s bad loan ratio fell by 3.23% in December from 3.41% a month earlier, the lowest in a year, central bank data showed.

Lenders’ gross bad loans stood at P446.99 billion, 12% higher than a year earlier and 1.6% lower than the end-November level. A loan is considered nonperforming when payments have not been made for 90 days.

“Investment and financial market gains, especially higher trading gains amid easing headline inflation towards central banks targets in the US and locally would support possible cut in Fed rates later this year and could be matched locally,” Mr. Ricafort said.

“(Rate cuts) could help reduce borrowing or financing costs and would support greater demand for loans. It would also support more trading gains for the coming months,” he added. — Keisha B. Ta-asan

Indian farmers to march to Delhi after talks with ministers fail

REUTERS

NEW DELHI — Indian farmers plan to continue a protest march to New Delhi after talks with ministers failed to make progress on issues including better crop prices promised in 2021 when thousands camped on highways leading to the capital.

The march, the latest in a series of such protests going back more than two years, comes months ahead of national elections in which Prime Minister Narendra Modi will seek a third term, with farmers forming an influential voting bloc.

Participants in the latest march, however, include only a section of farmers from a handful of northern states.

Farm unions hope to force the government to make a law committing to provide higher state support or price guarantees, and honor promises to double farmers’ income.

Talks between union leaders and the government failed to yield results, with farmers saying that the government was dragging its feet on meeting their demands.

“The government has not been able to make a strong decision on anything… We thought that giving time is not suitable now,” Sarwan Singh Pandher, the general secretary of Punjab Kisan Mazdoor Sangharsh Committee (KMSC), told ANI news agency.

Agriculture Minister Arjun Munda told reporters after the talks that some issues had been resolved but more discussions were needed. “Any problem can be solved with discussion. We are hopeful that we will bring solutions,” he said.

Police have prohibited large gatherings in New Delhi and blocked sections of major routes leading to the capital from the northern state of Punjab from where most of the farmers are starting their march.

Farmers from states including the northern breadbaskets of Punjab and Haryana were ready to march to Delhi, KMSC President Sukhwinder Singh Sabhra told ANI.

The government announces support prices for more than 20 crops each year to set a benchmark, but state agencies buy only rice and wheat at the support level, which benefits only about 6% of farmers who raise those two crops.

In 2021, when Mr. Modi’s administration repealed the farm laws after the farmers protested, the government said it would set up a panel of growers and government officials to find ways to ensure support prices for all farm produce. — Reuters

One day at a time

SERGIO R ORTIZ-UNSPLASH

It seems that there is not enough time — in a lifetime — to do all the things one wants to do or the difficult things one needs to do.

Procrastination is passive-aggressive behavior. It justifies delays. One postpones living life. A cynic once remarked, “It was never the right time.”

When is the right time? Does kismet determine all events? Are we not the masters of our own fate? Perhaps, only to a certain extent. One cannot control or predict the future.

“There will be lots of time.” Or so we like to think.

The optimist sees the hourglass half full. Sand seeps from top to bottom ever so slowly. The pessimist sees the hourglass half empty, with sand trickling down rapidly.

Poet and philosopher Kahlil Gibran once wrote, “I prefer to be a dreamer among the humblest, with visions to be realized, than lord among those without dreams and desires.”

When one is hopeful, one waits for the rainbow, the promise. He looks for the silver lining, the radiance of the sun after a storm.

So many events happen in a spectrum — from light to dark.

The artist visualizes colors in a prism from white (the presence of all colors) to black (the absence of color). It has been one long, dizzy, roller-coaster ride of sudden curves, exhilarating climbs and thrilling dips, and swirling colors.

There is beauty even in darkness. The specks of light illuminate even the blackest night. There have been so many spectacular sunsets with glowing rays of gold, copper, and bronze. The moonrise, luminous against the velvet sky, was a lantern guiding the way. Heavy fog would evaporate into fine mist. The dewdrops hung like crystal on the leaves. The lake would shine like a polished silver mirror, reflecting the moods of the heavens.

Fragrant flowers would bloom amidst the aromatic pine trees and evergreens.

Even in winter, little buds would break through to defy the cold. Lavender and poppies, sunflowers, tulips, and magnolias marked the passing seasons. Nature mesmerizes and invigorates the wandering pilgrim, the lonely nomad.

Woven together, the threads of life have become a unique tapestry of texture, colors, flowers, scents, and emotions.

Viewed from a distance with the passage of time, one can discern a luminous white light that emanates from above. The mystery of the Divine Plan unfolds.

All that really matters now is inner peace and love.

The simple basic things are essential. The completeness of oneself and spirituality can only grow from trials and cathartic experiences.

Material things — money, houses, cars, boats, and toys — can easily be taken away. A lifestyle drastically changes with a sudden reversal of fortune or the passing of a loved one. False friends disappear. People can turn nasty, dismissive or cruel when one is down and alone.

How does one survive the challenging, painful times?

By flowing with the tide. By allowing nature to take its course. By accepting that things always happen for a reason. We may never fully grasp the meaning, but we should learn trust and acceptance.

By letting go and forgiving. By facing and resolving difficult issues. One draws courage from deep within the soul — to stride into the future.

Life is a cycle. One can begin anew. Serenity comforts the heart. Live life, one day at a time.

“A butterfly comes and stays on a leaf — a leaf much warmed by the sun — and shuts his wings. In a minute he opens them, shuts them again, half wheels round, and by-and-by — just when he chooses, and not before — floats away. The flowers open, and remain open for hours, to the sun. Hastelessness is the only word one can make up to describe it; there is much rest, but no haste. Each moment, as with the greenfinches, is so full of life that it seems so long and so sufficient in itself.” — “The Pageant of Summer,” Richard Jefferies, American poet

 

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

mavrufino@gmail.com

Bridgerton returns for new season, new romance

LONDON — The cast of Bridgerton offered fans a sneak peak of its third season on Wednesday, sharing a glimpse of the latest budding romance in the hit Netflix drama that has gained fans around the world.

Characters and longtime friends Penelope Featherington, played by Nicola Coughlan, and Colin Bridgerton, portrayed by Luke Newton, take center stage in the new season of the show, which is set in Regency-era London.

The period drama is based on the books by Julia Quinn, with each focusing on a sibling of the Bridgerton family. The third season of the show skips the third book in Ms. Quinn’s series about Benedict Bridgerton to focus on Colin and Penelope, who are already well known to fans of the television show.

“This time we know the people falling in love, we’re already rooting for them,” executive producer Shonda Rhimes told a question-and-answer panel in London, where a scene of the new series was shared.

Bridgerton became a global phenomenon when it was released in 2020 and won praise for its diverse cast.

The new season sees fan favorites Adjoa Andoh and Golda Rosheuvel reprise their roles as Lady Danbury and Queen Charlotte respectively. Since season two of Bridgerton aired, the latter character has had her own spin-off origins story.

“It’s a great support for the characters now going forwards, the fans have caught up,” Ms. Rosheuvel told Reuters of the spin-off.

Bridgerton season 3, made up of eight episodes, will launch in two parts, the first released on May 16 and the second on June 13. — Reuters

DoTr taps Meralco to power Manila subway

BW FILE PHOTO

THE Department of Transportation (DoTr) has signed an agreement with Manila Electric Co. (Meralco) to power the Metro Manila Subway.

The power utility giant will finance, install, construct, control, operate, and maintain the required facilities within the switching station for the Metro Manila Subway, the DoTr said in a media release on Thursday.

“I would like to thank Meralco for your support as this agreement will help the Metro Manila Subway a step closer to reality,” Transportation Secretary Jaime J. Bautista said in a statement.

Under the agreement signed by the two parties, Meralco will construct facilities at the Valenzuela Depot of the Metro Manila Subway project.

Meanwhile, the DoTr will allocate to Meralco a switching station area of approximately 1,743 square meters for the interconnection of the Metro Manila Subway to Meralco’s distribution network.

The Metro Manila subway will connect 17 stations in Metro Manila. It is initially scheduled to start full operations by 2027 but was then delayed to 2029 on right-of-ways acquisition issue.Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose

UK banks, insurers ordered to report sexism, bullying

LONDON — Britain’s markets watchdog has ordered more than 1,000 banks, insurers and brokerages to report how many sexual harassment, discrimination and other non-financial misconduct cases they have recorded since 2021 and how they have dealt with them.

The Financial Conduct Authority (FCA) promised lawmakers in January it would investigate how financial services companies deal with such misconduct amid complaints from victims that they are often silenced or forced to quit.

The view that London’s financial sector remains an “old boys club” in which perpetrators of abuse operate with apparent impunity became more widespread after sexual assault and misconduct allegations against hedge fund founder Crispin Odey and Confederation of British Industry (CBI) officials last year.

Mr. Odey has denied wrongdoing, but his hedge fund closed. The CBI said it had dismissed a small number of staff who had failed to meet “high standards of conduct.”

The FCA said on Wednesday it had sent Section 165 notices — under which it has the power to compel firms to produce information — to 184 investment banks, 217 commercial insurers, 349 insurance intermediaries and 288 wholesale brokers.

A failure to respond could lead to a public censure, a fine or a search of the premises. The notice also means that firms can comply even if they have signed non-disclosure agreements (NDAs), one lawyer noted.

The FCA wants high-level data for the number of nonfinancial misconduct incidents since 2021, how they were detected and the outcomes, including any NDAs and employment tribunal hearings, so it has a better view of the problem.

It is also asking for the number of cases involving senior managers and where incidents took place: at the office, working from home, working offsite or in work-related social situations.

In the notice to Lloyd’s of London, its insurance managing agents and intermediaries, the FCA said the wholesale insurance market had a “long way to go in having an inclusive culture” and asked for a response by March 5.

Lloyd’s, which regulates nonfinancial misconduct amongst its ranks, has previously acknowledged problems with sexual harassment and day-time drinking in the commercial market, which employs nearly 50,000 people.

“Lloyd’s is working with the FCA to support the survey and our market’s responses,” a spokesperson said.

Lawmakers have said they were appalled by the scale of the problem in finance after 40 women from 30 financial firms told them anonymously about how victims typically are forced to move teams, leave or are silenced with NDAs.

The FCA, which has said non-financial misconduct is relevant when considering whether people are “fit and proper” to work in finance, has said it might publish some aggregated data but will ensure that individual firms cannot be identified. — Reuters

Port of Antwerp disrupted by protests

REUTERS

BRUSSELS — Operations at the port of Antwerp, one of Europe’s biggest container ports, were seriously impacted as hundreds of farmers on tractors blocked the roads around the port to demand better pay and working conditions, officials said.

The protest follows a large number of similar actions by angry farmers in France, Belgium, the Netherlands and beyond, as farmers also demand looser environmental rules and better protection against cheap imports.

“Operations are heavily disrupted,” Stephan Van Fraechem, the director of the association of port companies Alfaport VOKA, told Reuters. “No freight can be delivered or picked up, as trucks are halted, while employees are only being allowed in after a long wait.”

Mr. Van Fraechem said this was costing companies working in the port millions of euros “for a conflict they play no part in.”

The delays this is causing for freight handling come on top of the problems that port companies are already experiencing as attacks on vessels in the Red Sea force shipping companies to stay away from the Suez Canal and opt for longer routes instead.

“Supply chains are already disrupted,” Mr. Van Fraechem said. “Now ships that are already working outside their usual schedule arrive in a port where they can’t unload. This is a cause of great concern.”

A spokesperson for the port said roads were blocked at various places, disrupting traffic and causing long lines of trucks.

In France, the head of the country’s biggest farming union, FNSEA, said protests that hit the sector last month — blocking highways across the country — could resume if the government does not do more to meet their demands for better pay and working conditions. — Reuters

Annual Cash Remittances

CASH REMITTANCES rose to another record last year as overseas Filipino workers (OFW) sent more money to their families who struggled with spiraling prices, the Philippine central bank said on Thursday. Read the full story.

 

Annual Cash Remittances

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