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Security Bank to offer retail products via LazMall store

BW FILE PHOTO

SECURITY Bank Corp. (Security Bank) has partnered with Lazada to launch Security Bank’s LazMall Flagship Store where it will offer its retail banking products.

“We’re excited to launch this partnership with Lazada to reach more customers and provide them with innovative and convenient banking solutions. Through the Security Bank LazMall Flagship Store, we hope to make our products more accessible and appealing to the growing online market, especially the younger and tech-savvy segments,” Security Bank Executive Vice-President and Retail Banking Segment Head Rahul Rasal said in a statement on Thursday.

Online shoppers may avail of Security Bank’s Auto Loan, Home Loan, Credit Cards, and Deposit products through the lender’s LazMall Flagship Store.

After buying a product online, Security Bank will send the borrower instructions via e-mail and SMS to proceed with their application.

The bank will also offer customers perks and rewards for availing these products from its online store.

Security Bank said the partnership will allow the lender to tap a growing online customer base without compromising quality or performance.

“At Lazada, we are dedicated to building a trusted and engaging ecosystem to deliver the best online shopping experience for Filipinos. Security Bank is one of our valued financial partners and as we welcome them to LazMall, we look forward to giving more consumers access to quality retail banking products,” Lazada Philippines Commercial Director Sheryll Nito said.

The Security Bank LazMall Flagship Store is now live via the Lazada app or website. Customers can follow the store to receive updates and notifications on the latest offers and promotions from the bank.

Security Bank’s net income rose by 11.4% year on year to P2.63 billion in the first quarter amid growth in its retail and micro, small, and medium enterprises businesses.

Its shares closed at P70 apiece on Thursday, down by 40 centavos or 0.57% from the previous day. — A.M.C. Sy

The two parent advantage (or why a divorce law is a dumb idea)

STOCK PHOTO | Image from Freepik

Last February, Esquire Philippines came out with a rather curious article, declaring that the “Philippines Has the Most Number of Singles in Southeast Asia” and that the country is “practically the capital of singleville in the region.”

Culling “data from the UN Population Division for 2021 posted on SeaAsia Stats Facebook page shows that the Philippines tops the list of Southeast Asian countries with the most number of single people (49%) — almost half its population. The definition adopted for ‘single’ encompasses individuals who are unmarried, divorced, separated, or widowed.”

It’s curious because the matter is truly not something to celebrate about. And yet, despite Esquire’s decision to cheerfully quote a Miley Cyrus song within the article, it still managed to fail to mention the context of such rising singlehood and its price:

• The Philippines has “58% female” Pornhub viewers, the only country in the world where female porn viewers outnumber males.

• 58.1% or 844,909 of newborn Filipino babies are illegitimate.

• 20% of marriages in the Philippines will be broken, with 82% of such broken marriages involving children.

• A World Health Organization study finds that there are 15 million solo parents in the Philippines, with 95% (or more than 14 million) of whom are women.

• The Philippines registers among highest in Southeast Asia for teenage pregnancies, with births by girls 14 years old and below having increased by 7% in 2019 compared to the previous year, which also represents a nearly 300% rise from 2000.

• The total fertility rate (TFR) of Filipino women aged 15 to 49 years dropped from 2.7 children per woman in 2017 to 1.9 in 2022. With the lower TFR, the country is already below the replacement fertility rate of 2.1 children per woman.

The Philippines is now reaping the fruits of universities and media ramming progressive policies on our children. And then there’s the divorce bill to make matters worse. If we insist on being a society where “anything goes,” it won’t be long before our society itself is gone.

Gratifyingly, Melissa Kearney, the University of Maryland’s Neil Moskowitz Professor of Economics, recently came out with the highly relevant and quite commonsensical book, The Two Parent Privilege. Here, she presents a data-driven defense of marriage and declares that to depreciate it leads to economic problems, fractures society, and badly hinders children’s development.

Presenting no religious arguments and based on more than a decade of economic research, the Two Parent Privilege demonstrates that “marriage, for all its challenges and faults, may be our best path to a more equitable future” and that when two adults marry, such immensely and comprehensively benefits not only the married couple but their children as well.

Indeed, “two parents combined have more resources than one. Two parents in a home bring in the earnings — or at least the earnings capacity — of two adults. And so, in a very straightforward way, we see that kids growing up in single-mother homes are five times more likely to live in poverty than kids growing up in married parent homes. (Kids in single-father homes are three times as likely to live in poverty.)

“Some of that reflects the fact that people with lower levels of education or income are more likely to become single parents. But even if you compare moms of the same education group, you see that kids who grow up in a household with two parents have household incomes that are about twice as high. That means that those parents are paying for things like a nicer house in a safe neighborhood with good school districts. But they also spend more time with their kids.

“We see that kids who grow up with married parents have more parental time invested in them: reading to your kid, talking to your kid, driving your kids to activities. If there are two parents in the household, there’s just more time capacity.” (“Why Two Parents Are the Ultimate Privilege,” Bari Weiss interviewing Melissa Kearney, Free Press, December 2023)

This lines up with previous findings that broken marriages affect society as a whole. Practically every school shooter (for example) was bereft of a father, “whether due to divorce, death, or imprisonment” (“When Will We Have the Guts to Link Fatherlessness to School Shootings?,” Susan Goldberg, PJ Media, February 2018).

Then there’s this: “72% of adolescent murderers grew up without fathers; the same for 60% of all rapists. 70% of juveniles in state institutions grew up in single- or no-parent situations. The number of single-parent households is a good predictor of violent crime in a community, while poverty rate is not,” wrote Goldberg in an article in Medium from 2018.

The advantage of a society reared by two parent (i.e., biological parents) homes, is clear, undeniable, and conclusive. To insist on a divorce law despite every fact, logic, and experience is not only to exhibit blatantly gross hubris, it’s also patently unwise, ignorant, and borders on irresponsibility.

The views expressed here are his own and not necessarily those of the institutions to which he belongs.

 

Jemy Gatdula is the dean of the Institute of Law of the University of Asia and the Pacific and is a Philippine Judicial Academy lecturer for constitutional philosophy and jurisprudence. He read international law at the University of Cambridge.

https://www.facebook.com/jigatdula/

Twitter  @jemygatdula

Entertainment News (06/07/24)


Manila Film Festival showcases student films

THE MANILA Film Festival has returned this year and will screen eight student films and four short films by experienced filmmakers. The films are currently being screened until June 11 at Robinsons Manila in Ermita, Manila and Robinsons Magnolia in Quezon City. Tickets cost P200. The eight student films are An Kuan by Joyce Ramos of Pamantasan ng Lungsod ng Maynila, Bahay, Baboy, Bagyo by Miko Biong of the University of the Philippines Film Institute, Ballad of a Blind Man by Charlie Garcia Vitug of De La Salle – College of Saint Benilde, Ditas Pinamalas by Adrian Renz Espino of Adamson University, Happy (M)others Day! by Ronnie Ramos of the University of the Philippines Film Institute, Pinalakang Tabingi by John Pistol Carmen of Bicol University, Una’t Huling Sakay by Vhan Marco Molacruz of Colegio San Juan de Letran – Manila, and threefor100: o ang tamang porma ng pag uukay at iba pang mga bagay-bagay, i think! by Cedrick Labadia of iACADEMY. They will be accompanied by the featured films Lumang Tugtugin by Pepe Diokno, Nananahan by Dwein Baltazar, Shortest Day, Longest Night by JP Habac, and May at Nila by Sigrid Bernardo.


Circuit Makati celebrates Pride Month through theater

CIRCUIT Makati celebrates Pride Month with two captivating theater productions that illuminate the beauty of love in all its forms: Bawat Bonggang Bagay featuring Jon Santos at the Samsung Performing Arts Theater, and Anton Juan’s Choosing (Not A Straight Play) featuring Ice Seguerra at the Power Mac Center Spotlight Blackbox Theater. Bawat Bonggang Bagay is a Filipino translation of Duncan Macmillan and Jonny Donahoe’s Every Brilliant Thing. It’s an emotionally raw and moving piece about mental health and finding the beauty in the little things. The play serves as an important reminder that despite experiencing hardships, life is still worth living. It will be on stage from June 22 to 30. Meanwhile, Choosing (Not A Straight Play) is a conscious retelling of a woman and a transman’s journey of finding each other. It sheds light on their relationship obstacles, their sexual consciousness, their individuality, and their commitment to the choices they make in order to find true happiness. Choosing is a groundbreaking and powerful play that focuses on a love that goes against all odds. It will be on stage from June 29-30, and July 6-7. Bawat Bonggang Bagay ticketsare available at Ticketworld while Choosing (Not A Straight Play) tickets are available through Ticket2Me.


SB19’s Josh Cullen drops emotional R&B track

AFTER announcing his participation at this year’s Round Festival in South Korea, Josh Cullen keeps the ball rolling with the release of his new single, “Sumaya,” under Sony Music Entertainment. The track blends R&B, trap, pop, and bedroom hip-hop and expresses the truths of a relationship aftermath. “It’s a song that delves into the pain and sadness of moving on while still cherishing the good times you had together,” Mr. Cullen said in a statement. “Sumaya” is out now on all digital music streaming platforms.


Talk to Me now streaming on Lionsgate Play

THE 2022 Australian supernatural horror film Talk to Me follows a group of teenagers who discover a thrilling and horrifying way to contact the dead — through a severed, embalmed hand. After enjoying the novelty of contacting the spirit world for thrills, one person goes too far, unleashing supernatural forces. The thriller, currently A24’s highest-grossing horror film, is now streaming on Lionsgate Play.


Dhruv announces release of debut album

BREAKOUT vocalist, songwriter and multi-instrumentalist Dhruv, is set to release Private Blizzard via Little Worry/RCA Records in August. Recorded in Nashville with Grammy-nominated producer JT Daly, it will reflect the full range of emotions Dhruv felt as he set out to make his debut album from a place of creative honesty. “I started in a place of numbness, and I didn’t really understand why I felt that way. The songs that I started out with were trying to help me unpack that feeling,” he said in a statement.

Conflict resolution is not HR’s job

We have an increasing number of disputes between line leaders and workers. They range from unreasonable disapproval of vacation leave to foul-mouthed management styles. This overworks the human resources (HR) department, which is forced to mediate the conflicts. Is there a better way? — White Rabbit.

Workplace conflict is a destructive force, especially between line executives (team lead, supervisor and manager) and their direct reports. If not managed properly, it can slow down company operations, if not result in full-blown lawsuits if management resorts to illegal dismissal, among others.

HR must guard against this by putting its ear to the ground.

This can be done through a proactive two-way communication process that may include an annual morale survey, monthly town hall meetings, birthday clubs, engagement dialogues, quality circles, and the labor-management cooperation scheme recommended by the Labor Code.

The age-old suggestion box may be included except that I consider it a reactive communication tool. An organization may also invest in an online whistleblower program that accepts anonymous ideas, suggestions, and complaints.

NOT HR’S JOB
In general, employee issues are brought about by offensive jokes, sexism, discrimination, favoritism, gossip, loss of temper, and unproductive chatting. Many times, they are within hearing distance of department managers who condone these practices under the mistaken belief they are making the workplace fun and enjoyable.

But that’s totally wrong for so many reasons. For one, it is counterproductive if it becomes a daily habit. If line executives ignore these things, it can result in conflict, or resentment.

Though it is commonly thought to be so, it is not the job of HR to personally manage the issues between line executives and their workers. The best approach for HR is to administer policies, give expert advice, train line executives on proper supervision, and of course monitor workplace conflict.

The primary responsibility of resolving conflict lies with the department head. It follows the basic principle in people management that whoever makes the ultimate decision to hire employees has the same obligation to prevent and manage their conflict.

POLICY
For line executives to do their jobs better, HR must establish a conflict resolution program teaching everyone their responsibilities in people management. If a similar program is operational, HR must ensure that the following requirements are met for effective implementation:

One, uphold the primary responsibility of all line executives. There’s no other way. On a daily basis, they are proximate to their workers’ actual behavior and attitudes. They are first to notice if someone is tardy, absent, lazy, or doing things that violate office decorum.

It is not HR. Therefore, why seek HR intervention if the line leaders are the reason for the conflict? It becomes necessary if the issue has gone overboard, adversely affecting the whole organization.

Two, conduct an effective supervision program regularly. There’s no need for HR to wait if disputes between line leaders and their workers are increasing. In fact, measuring the management aptitude of internal applicants for supervisory posts must be one determinant before a person is promoted.

The typical contents of a supervisory program include proactive communication, decision-making, problem-solving, adaptability, feedback handling, coaching, performance management and of course, conflict resolution, among other leadership skills.

Three, include an automatic appeal system. Any conflict must be resolved as soon as it becomes apparent. The earlier, the better. A conflict resolution program must include an appeal system that requires the elevation of the unresolved issue to higher-ups within the department.

Depending on the complexity of an issue, it must be resolved within one to three weeks by the line executives and their department head. If not, the issue must leave their jurisdiction and go up to HR, which may refer the matter to a conflict resolution committee composed of other department heads.

Last, report a conflict to HR for monitoring. It is incumbent upon the concerned line executive to report the matter to HR for monitoring. If this policy is violated, the line executive is presumed to have neglected the basic task of preventing an issue from becoming a full-blown case.

The objective is to make line executives fully accountable and at the same time, teach them to prevent issues with their workers with many interventions, long before HR or the department head takes over.

 

Bring Rey Elbo’s “Kaizen Blitz Workshop” to your organization and discover how you can solve problems without spending money for the solution. Contact him on Facebook, LinkedIn, X or e-mail elbonomics@gmail.com or via https://reyelbo.com

Philippine Labor Force Situation

THE PHILIPPINE unemployment rate climbed to a three-month high in April, while the quality of jobs deteriorated, the Philippine Statistics Authority (PSA) reported on Thursday. Read the full story.

Philippine Labor Force Situation

PSEi member stocks performed — June 6, 2024

Here’s a quick glance at how PSEi stocks fared on Thursday, June 6, 2024.


House panel chairman promises RCEF support after rice tariff cut

PHILIPPINE STAR/KRIZ JOHN ROSALES

LEADERS of the House of Representatives said on Thursday that they will continue to support farm modernization despite the potential loss of funding from rice import tariffs, which the government reduced to 15% from 35%.

The Rice Competitiveness Enhancement Fund (RCEF), which finances industry modernization, is by law the recipient of P10 billion a year from rice import tariffs. RCEF tariff support is authorized by the Rice Tariffication Law of 2019.

“Even at the higher allocation of P15 billion for the Rice Competitiveness Enhancement Fund under the House version of the revised (Rice Tariffication Law), we are already assured it will be funded for next year,” Quezon Rep. Wilfrido Mark M. Enverga said in a statement.

Mr. Enverga chairs the House Committee on Agriculture and Food.

The government earlier this week approved a revised tariff program for 2024 to 2028 — which includes a reduction of rice tariffs to 15% from 35%.

The 2019 law liberalized rice imports but charged a 35% tariff on imported grain. The 35% rate originally applied to rice from Southeast Asia, but the government subsequently applied that rate to rice from any country of origin.

“We will make sure that our rice farmers aren’t short-changed in this government effort to bring down the cost of rice,” Mr. Enverga said. “So, even if tariff collection falls short for RCEF allocation, the government will provide funds to fill whatever deficiency to ensure sufficient financing for the Rice Fund.”

Speaker and Leyte Rep. Ferdinand Martin G. Romualdez described the tariff cut as a means of reducing the retail price of the staple. “The reduction in tariffs will make imported rice cheaper,” he said in a briefing.

Well-milled rice prices in late May averaged P48 to P55 per kilo while regular-milled rice sold for P45 to P52, according to Department of Agriculture price monitors.

Mr. Enverga urged the Department of Trade and Industry to monitor the entire rice supply chain to ensure that the benefits of cheaper rice are passed onto consumers and not captured by any one segment of the chain. — Kenneth Christiane L. Basilio

Luzon corridor expected to create quality manufacturing jobs — Recto

SBDMC.COM

THE proposed Luzon economic corridor is expected to result in the creation of high-quality manufacturing and construction jobs, Finance Secretary Ralph G. Recto said.

“The massive transport projects that will be undertaken along the corridor as well as the opportunities for investment in key economic hubs will create high demand for both skilled and unskilled jobs in the construction and manufacturing sectors,” he said in a statement on Thursday.

“This will be an engine of growth that will further spread the fruits of inclusive development,” he added.

The proposed corridor is an initiative of the G7 Partnership for Global Infrastructure and Investment.

It is also the first of its kind in the Indo-Pacific region, according to the US State department.

The corridor will connect Subic Bay, Clark, Manila, and Batangas and focus on investments in “high-impact infrastructure projects, including railways, ports modernization, clean energy, semiconductor supply chains, and agribusiness to drive economic growth in each hub.”

Mr. Recto said the corridor will be a “prime location for export-manufacturing firms, positioning the Philippines as Asia’s top destination for cutting-edge production and innovation.” — Luisa Maria Jacinta C. Jocson

Meat imports rise 11% led by pork, chicken

PHILSTAR FILE PHOTO

MEAT IMPORTS rose 11.3% during the four months to April, led by increased shipments of pork, chicken, and beef, the Bureau of Animal Industry (BAI) reported.

The BAI tallied imports of 397 million kilograms of meat during the four-month period, against 356 million kilos the prior year.

Meat imports in April rose 35.6% to 122.74 million kilos.

Shipments of pork increased 17.99% to 193.15 million kilos during the period, accounting for 48.73% of the total.

“Importers are likely positioning in anticipation of higher prices abroad, a weaker peso, as well as lower hog production due to El Niño. It is noteworthy that offal volume decreased, perhaps indicating greater attractiveness of pork meat at the current import duty rate,” Meat Importers and Traders Association President Emeritus Jesus C. Cham said in a Viber message.

The National Economic and Development Authority Board has approved a medium-term plan to lower tariffs on agricultural and industrial products. This included the extension of the reduced-tariff regime on pork imports.

Pork tariffs were retained at 15% for shipments within the minimum access volume and 25% for those exceeding the quota.

He added that as most imports are contracted three months in advance, “We will see how in the next few months how it will affect imports,” Mr. Cham said.

Spain supplied around 50.9 million kilos of pork, followed by Brazil (44.4 million kilos), and Canada (26.2 million kilos) during the period.

Shipments of chicken totaled 134.47 million kilos in the four months to April. Shipments rose 2.41% and made up 33.9% of meat imports.

Brazil remained the top supplier of chicken with shipments of 70.5 million kilos, followed by the US (46.6 million kilos), and Australia (5.4 million kilos).

“This probably shows the continued demand for lower priced chicken,” he said.

Making up 13% of total imports, beef shipments increased 21.9% during the period to 51.53 million kilos.

“The high retail price of pork is pushing consumers toward mid-range beef,” he added.

Beef from Brazil amounted to 17.2 million kilos, followed by Australia (16.1 million), and Ireland (5.1 million).

Turkey imports, which accounted for 0.12% of the total, surged to 483 thousand kilos from 89.9 thousand a year earlier.

Meanwhile, duck, lamb, and buffalo meat imports declined during the period.

Buffalo imports, which accounted for 4.17%, fell 9.65% during the four months to April to 16.5 million kilos.

Shipments of duck declined 59.8% to 51 thousand kilos, while lamb imports fell 27.3% to 164 thousand kilos. — Adrian H. Halili

PHL lands on ILO shortlist for curbing freedom of association

THE PHILIPPINES is among the 24 countries shortlisted by the International Labour Organization (ILO) for labor violations, specifically ILO Convention 87 or the Freedom of Association and Protection of the Right to Organize.

The ILO is set to examine the Philippines’ compliance with Convention 87 on Friday in Geneva for the 112th Session of the International Labour Conference (ILC).

Speaking virtually from Geneva, labor leader and President of the Federation of Free Workers Jose G. Matula urged the government to respect workers’ freedom of association.

“Our country is one of the 24 countries shortlisted for not complying with ILO Conventions. Our focus now is the Philippines’ compliance with ILO 87 or the Freedom of Association. Included here is the workers’ right to unionize… most of the time, workers can’t exercise their freedom of association,” he said in a briefing on Thursday.

He cited the so-called red-tagging (alleging Communist links) of union organizers, forced disappearances, the killing of union leaders, and the termination of union members.

Labor groups claim that between 2016 and 2024, 72 workers were killed, 28 detained as political prisoners, 6 abducted, and 53 falsely charged.

Last year, President Ferdinand R. Marcos, Jr. signed Executive Order No. 23 or the Reinforcing and Protecting the Freedom of Association and Right to Organize of Workers, which Mr. Matula said was issued without consulting workers.

Joanna Bernice S. Coronation, the Workers’ Head Delegate for the Philippines in Geneva, said: “The true test of compliance with freedom of association standards is unionization rates, and they remain stagnant. This is why wages have stagnated and job quality has not improved,” she added.

The Philippines was also shortlisted in 2019 and 2023.

Separately, Labor Undersecretary Benjo Santos M. Benavidez, also in Geneva, said the Philippines is counting on the conference to acknowledge the contributions of Filipino healthcare workers and caregivers.

“For the past decade, Filipino medical professionals, teaching personnel, health carers, health allied services workers, medical technicians, home carers, and carers for the elderly and the young have become part of the care economy in foreign employers’ families, facilities, and communities,” Mr. Benavidez said in a statement on Thursday.

The ILC started on June 3 and will run until June 14.

Cambodia and Laos are the other Southeast Asian countries on the shortlist. — Chloe Mari A. Hufana

MWSS water allocation from NWRB up in first half of June

PHILSTAR

THE Metropolitan Waterworks and Sewerage System (MWSS) said on Thursday that it received a higher water allocation from the National Water Resources Board (NWRB) for the June 1 to 15 period.

Patrick James B. Dizon, manager with the MWSS water and sewerage management department, said the Metro Manila was allocated 51 cubic meters per second (cms) for the period.

That new water allocation is “2 cms higher from the previous approval of 49 cms” from May 16 to 31, he said.

“The decrease of reservoir elevation is now minimal (around 10-20 cm per day) comparing it to the last months (around 40-50 cm per day). This is expected based from our historical records. This quarter it will start to refill,” he said in a Viber message.

Angat Dam is the main source of water for Metro Manila, accounting for about 90% of the capital’s potable water.

As of 8 a.m. on Thursday, the water level in Angat Dam was 178.13 meters, lower than the 178.26 meters the previous day.

Last month, the government weather service, known as PAGASA (Philippine Atmospheric, Geophysical and Astronomical Services Administration), announced the onset of rainy season.

PAGASA has said there was a high probability of La Niña setting in between July and September, which “increases the likelihood of above-normal rainfall conditions in some areas of the country, especially towards end of the year.”

Mr. Dizon said that MWSS supply outlook depends on the allocation provided by the NWRB.

“However, considering the projected rainfall in the coming months by PAGASA, we will maximize the inflows from the watershed to… mitigate water service interruptions,” he said. — Sheldeen Joy Talavera

TikTok being enlisted to push MSME e-commerce adoption

REUTERS

THE Department of Trade and Industry (DTI) said on Thursday that it is in discussions with TikTok to explore how to accelerate e-commerce adoption by micro-, small- and medium-sized enterprises (MSMEs).

In a statement, the DTI said that Trade Secretary Alfredo E. Pascual led a discussion with TikTok representatives to explore potential collaboration to support the development of the digital economy.

“Our collaboration with TikTok represents a pivotal step in propelling e-commerce forward in the Philippines. This partnership is poised to significantly bolster the growth and development of the digital marketplace, benefiting businesses, consumers, and the overall economy,” Mr. Pascual said.

“TikTok’s influence in empowering local MSMEs is undeniable, and their accelerated adoption of e-commerce is crucial for revolutionizing production sectors, generating high-quality employment opportunities, and elevating the competitiveness of Philippine products on the global stage,” he added.

According to the DTI, TikTok, which was launched in the Philippines in May 2017, now has 53 million users in the country. There are about 2 million sellers in the TikTok Shop.

In particular, the two parties discussed collaboration in the establishment of a Content Creator Academy.

The DTI welcomed TikTok’s Safety Enforcement Tool (TSET), a platform that protects consumers.

TSET aims to help verified government agencies and law enforcement representatives request and monitor the progress of a content takedown.

“While the DTI is eager to explore the implementation of TSET, it underscores the critical need for transparent information sharing regarding government reports,” the DTI said.

“With the passage of the Internet Transactions Act, all platforms, including TikTok, are expected to adhere to the regulations outlined in the new law,” it added.

TikTok has removed 570 items of user-generated content and 337 associated products after the DTI’ Fair Trade Enforcement Bureau issued show cause orders over the sale of vape products. — Justine Irish D. Tabile