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Metrobank expects ‘strong’ growth in credit card billings

METROPOLITAN BANK & Trust Co. (Metrobank) is expecting “strong” growth in credit card billings next year, as customer sentiment is expected to be resilient despite elevated interest rates and inflation.

“We’re quite confident actually. When we were doing our planning session for 2024, and using our ending projection for 2023 as our launch point, the targets for 2024 reflect our confidence in how we’re going to perform for the next year,” Metrobank Head of Usage Miguel L. Beltran told reporters on Thursday.

Head of Credit Card Product and Segment Strategy Melissa Samson said the lender will continue to strategize credit card deals and rewards around travel and dining next year.

“Again, that reflects the level of confidence we have. We’re a very data-driven group so we’re really focusing our energy on certain things that we know are gonna hold and we’re really trying to fight for our market share,” Mr. Beltran said.

He added that the lender’s confidence going into 2024 stems from the economy’s continued recovery and resilient consumer spending despite prices seen remaining elevated next year.

“Inflation this year is not at its best,” Mr. Beltran said, adding that growth is still seen in consumer spending.

“So I think we’re a little bit more resilient when it comes to certain market forces,” he said.

“I’m just giving you the trend that we’re observing. With the numbers that we’re seeing and the assumptions for next year, we feel like it will still continue,” he added.

Ms. Samson said Metrobank has an active credit card portfolio valued at P1.4 billion, making it the third-most active credit card provider or servicer in the Credit Card Association of the Philippines.

Metrobank saw its net income rise by 38.7% to P10.89 billion in the third quarter as the growth in its revenues outpaced its expenses.

Its shares dipped by 85 centavos or 1.6% to end at P52.40 apiece on Friday. — Aaron Michael C. Sy

Ireland planning dairy export push targeting Philippines, Malaysia

REUTERS

IRELAND’s Food Board, known as Bord Bia, said it hopes to grow dairy exports by about 15 million euros over a three-year campaign targeting the Philippines and Malaysia.

“We have not posted a specific figure or the numerical value for each market, but given the fact that the Philippines has a greater share of dairy exports than Malaysia, we can see that the majority or the greater part of that (growth) will come from the Philippines,” Jim O’Toole, chief executive officer of Bord Bia, said at a briefing on Thursday.

Bord Bia is also undertaking a 3.2 million-euro promotional campaign in the two ASEAN markets.

It will also seek to bring in buyers from the two countries as well as Japan, Vietnam and Thailand to visit Irish dairy farms and processors.

Bord Bia will also host two dairy technical seminars in Malaysia and the Philippines.

The Bord Bia campaign is co-funded by the European Union, which aims to raise awareness of European dairy products and increase dairy exports to Southeast Asia.

In 2022, Ireland’s dairy exports to the Philippines amounted to 72 million euros, up 107%.

Irish beef exports grew 91.4% to 49 million euros in 2022, while pork exports rose 71.4% to 24 million euros.

Ireland’s other exports also grew last year with beverages surging 215% to 1.5 million euros in 2022.

Meanwhile, Martin Heydon, Irish Agriculture, Food and the Marine minister, said Ireland can play a role in helping the Philippines achieve food security.

“We have developed our agriculture system really significantly… over the last 50 or 60 years, and we have done that through research, science and innovation. We have learned a lot from that experience that we believe that we can share,” Mr. Heydon said.

“And we are going to engage further to see how some of those learnings can be shared for the benefit of the Philippines,” he added.

On Nov. 7, Bord Bia visited the Philippines on a fifth trade mission to Southeast Asia.

The Irish ministerial delegation brought in 12 companies from Ireland, while other Irish companies were represented by traders based in the Philippines.

During the trade mission, Irish dairy processors Tirlan and Lakeland Diaries signed agreements with distributors in Manila to supply Irish cream and butter. — Justine Irish D. Tabile

Paxys, Inc. to hold 2023 annual meeting of stockholders on Dec. 11

 

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‘Pray pa more’ for better times

GÜNTER-PIXABAY

On Oct. 26, the Monetary Board (MB) raised the reference interest rate by 25 basis points to 6.5% effective Oct. 27, earlier than the expected review cycle, to slow down the rate of price increases of goods and services. The worry was about inflation, which had risen to 6.1% in September from 5.3% the previous month (CNN Philippines, Oct. 26). Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona said it may not yet be the end of policy rate adjustments for the year. The Monetary Board will next meet on Nov. 16 to determine if it will continue to tighten monetary policy. New consumer price index and third quarter economic data figures were expected to be released before this date.

On Nov. 9, the Philippine Statistics Authority (PSA) did release the third quarter economic data figures: the economy grew by a higher-than-expected 5.9% in the third quarter despite the elevated prices of goods. Gross domestic product (GDP) growth rebounded in the third quarter from the disappointing 4.3% recorded in the second quarter. The Philippines has claimed to be the fastest-growing economy in Asia among those that have released their third quarter GDP growth figures: Vietnam at 5.3%, Indonesia and China at 4.9%, and Malaysia at 3.3% (Rappler, Nov. 9).

Surprisingly, headline inflation dropped to 4.9% in October 2023 compared to the 7% in October 2022. The PSA shows the monthly inflation rates decelerating from a peak of 8.7% in January 2023 to 4.7% in October, at the 4.9% level of July, when the optimism of the finance managers was high that inflation was being reined in with the help of the raised borrowing interest rates imposed since March. Higher interest rates would discourage borrowing, which in turn would control spending that would have stimulated more inflation from the increased demand if lower interest rates allowed more spending from excess money going around. Phew! Long explanation, yet persistent inflation has bugged the economy for years even before the COVID-19 pandemic and its restrictions.

“The Monetary Board recognized the need for urgent monetary action (the raising of interest rates) to prevent supply-side price pressures from inducing additional second-round effects and further dislodging inflation expectations,” Mr. Remolona said, worrying about the uptick of inflation to 6.1% in September.

Economist JC Punongbayan pointed out that “the recent drop (in inflation) surprised even the Bangko Sentral ng Pilipinas itself, which forecasted 5.1% to 5.9% for October. Inflation went down (to 4.9%), faster than they expected (Rappler, Nov. 8). “The thing is, we don’t want inflation to move up and down so much, because that makes peoples’ purchasing power — and thus their ability to budget, plan their spending, and provide for their families — just as volatile… Besides, if inflation is due largely to food items (like rice and vegetables), then interest rate hikes will do little (if anything at all) to tame overall inflation,” Punongbayan said.

The PSA confirmed that “The primary driver to the downward trend of the overall inflation for the bottom 30% income group in October 2023 was the lower year-on-year growth in the heavily weighted food and non-alcoholic beverages at 7.6% during the month from 10.4% in the previous month. Also contributing to the downtrend was housing, water, electricity, gas and other fuels which dropped further by 2.3% in October 2023 from a 1.4% annual decrease in the previous month.”

Around half of Filipino families considered themselves poor during the second quarter of 2023, according to a survey conducted by OCTA Research. The poll, carried out from July 22 to 26, found that 50% of Filipino families, or around 13.2 million households, rated themselves as poor (Sept. 19).

That food-led inflation, mainly suffered by the bottom 30% income group, has caused sticky prices and volatility in markets urges attention to National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan’s warnings against further interest rate hikes contemplated by the BSP/Monetary Board. “Raising interest rates will hurt the economy, will hurt consumers, will hurt producers. And that has also long-term effects,” he told reporters in a press chat on Oct. 6. “We have been the most aggressive in our region in raising interest rates,” he said. “The economy could withstand more rate hikes if necessary, but doing so would put the economy quite far away from our peers in the region.”

Mr. Balisacan does not believe monetary tightening is the right tool to use. “We also know very well that the source of the inflation is supply side. It’s not the demand side; that requires monetary solution,” he told reporters (Rappler, Oct. 6). Other analysts have also challenged the effectiveness of the BSP’s rate hikes, saying they were ineffective against the supply-side pressures on inflation.

Mr. Balisacan was also concerned that higher borrowing costs could have an impact on foreign exchange rates and make the country’s exports more expensive. Since May 2022, the BSP has hiked its key policy rate — which influences interest rates charged by banks — by a total of 425 basis points in an effort to rein in persistent inflation.

A further complication to the peso-foreign exchange rate is the parallel effort of the BSP to match the aggressive rate hikes delivered by the US Federal Reserve. On Nov. 1, the Federal Open Market Committee (FOMC), the Fed’s policy-setting body, voted unanimously to hold the influential fed funds rate at a range of 5.25% to 5.50%. The rate has been in that range since July and is the highest since 2001. It was the second meeting in a row that officials were content to leave the Fed’s key interest rate unchanged, in the first two-meeting pause since March 2022 when the Fed began hiking rates from near zero in an effort to slow the economy, as reported by investopedia.com.

“A policy statement issued by the FOMC was little changed from the one it released at its last meeting in September. It emphasized the need to control inflation while acknowledging high interest rates could hurt the economy more the longer they stay in place, while leaving the door open for further increases if inflation doesn’t continue its downward trajectory.” Yet analysts say, The Fed’s anti-inflation interest rate hikes haven’t stopped consumers from spending but have hurt the economy in other ways by driving up borrowing costs. The real estate market has been especially hard hit by mortgage rates that have more than doubled in the last two years, making housing unaffordable for most (Ibid.).

Due to the aggressive rate hikes delivered by the US Fed to tame inflation last year, the dollar-pegged peso slumped by as much as 15.7% to hit a new all-time low of P59 to $1 in October 2022. Fitch Solutions said it expects the peso to weaken to P56.50 to $1 this year before strengthening to P54.50 to $1 next year (The Philippine Star, Feb. 2, 2023).

As even the US experience shows, it is a hard act, balancing monetary and fiscal policies, demonstrated in the tension between the BSP and NEDA debate on interest rate increases.

Some technocrats suggest incentives to agriculture and other production/service sectors, or tax breaks to individual and company income, to encourage savings and investments. But perhaps first the banks might share some of their bonanza in profits from the higher lending rates that follow from the rate hikes established by government, by increasing deposit rates to encourage savings. A leading commercial bank posted a 0.125% p.a. gross interest rate on savings deposits for a minimum required daily balance of at least P2 million. The saver/depositor effectively “earns” nothing if the inflation rate of 4.9% is deducted from the gross interest rate (0.125 – 4.9 = -4.775).

Other options for short-term investments (government issued):

• Treasury Bills (over 31 days), September 2023, 5.89% p.a. interest rate

• Money Market Rate, August 2023, 6.32% p.a. interest rate

We consumers just hope our leaders, particularly our economic planners and managers in government, are studying our situation well, as we trust them in their sworn duty to serve the Filipino people honestly, effectively and efficiently. In the lingo of the hopeful, resilient youth (the median age of the estimated 2023 population of 117.9 million Filipinos is 25 years old): We pray pa more for better times.

 

Amelia H. C. Ylagan is a doctor of Business Administration from the University of the Philippines.

ahcylagan@yahoo.com

A trip to the Toyota Technical Center Shimoyama (Part 1): Future perfected

This high-banking test loop is presumably where Toyota and Lexus models are tweaked and perfected for fast speeds. — PHOTO FROM TOYOTA MOTOR CORP.

We are among the first to drive on, and be driven on, this top-secret test center

By Kap Maceda Aguila

IN TOKYO, we quickly performed our coverage of the Japan Mobility Show, were hustled onto a bus, and made our merry way in a southwestwardly path to the Fuji Speedway Hotel. After resting our bones — waking up to the glorious sight of Fuji-san as we drew the curtains open — we headed further away from the din of Tokyo Big Sight to the top-secret Toyota Technical Center Shimoyama.

Located in Aichi prefecture, nestléd in Honshu Island, it is one of the car maker’s 21 research and development centers spread out in various continents. We are told that Honsha is the OG tech center for Toyota, while the Shibetsu facility features a high-speed track (and lends itself most nicely for cold-weather testing because it’s in Hokkaido); advanced R&D happens at the Higashi-Fuji Technical Center.

Then there’s Shimoyama, which is said to support the Honsha R&D work. A scant half hour from the Toyota City head office, Shimoyama arguably takes a special place owing to its key role in developing future offerings in the Toyota and Lexus portfolios. Its first major appearance on the radar happened with the development of the all-new Lexus IS. Engineers and designers had the facility at their disposal — particularly the sprawling center’s test tracks. We were also told at a media briefing that Shimoyama will be the Lexus headquarters once construction work on its offices is done.

No doubt, these comprise the centerpiece of the facility — particularly the so-called No.3 Test Course (also known as the Country Road). Toyota truly took advantage of its 1,600-acre property in this mountainous region to purposefully recreate Germany’s Nürburgring Nordschleife (or North Loop) — that most iconic of proving grounds for many a car brand. Its torturous, undulating surface lends itself naturally as a gauntlet not just of speed but maneuverability, the ability to hug curves, and keeping a car unperturbed under duress.

Shimoyama’s Country Road stretches 5.3 kilometers, and features 75-meter elevation change. Curves and cambers are also said to simulate a variety of roads as well. You may not find that odd pothole that appears on EDSA after sustained rainfall, but I digress. The test course is said to be “tough on the vehicle (yet) friendly to nature,” something that we saw first-hand hurtling through the circuit on various vehicles. In my case, it was a Lexus LC 500 that hugged the curves and took the high-speed abuse like a champ. The robust performance, courtesy of a powerful 5.0-liter V8, was corralled most impressively by the Japanese driver who showcased the salient areas of the course, such as the up-and-down section (yes, I held my arms up when he took it at speed) and special uneven portions.

Fencing and such also help protect the endemic wildlife from intruding upon the course, and Toyota also makes sure that noise emission from tested vehicles are kept to a minimum. Since Shimoyama was opened in 2007, Toyota has also increased the portion it chose to preserve untouched from 40% to 60%. Construction activities have also been very respectful and conscious about environmental impact; no outside soil or earth was utilized in order to minimize effects on the ecosystem. And like a dutiful citizen, Toyota has been engaging with the neighboring community to meet its corporate social responsibility.

Toyota Motor Corp. Chairman Akio Toyoda had said that “a road builds the car and people,” and the Shimoyama is surely about the company equipping itself with more in-house capacity to weave the future of mobility. More on that in coming articles.

Adidas eyes more Yeezy sales next year with big stockpile left

THE YEEZY BOOST 700

ADIDAS AG is pausing sales of Yeezy sneakers for the rest of this year, but Chief Executive Officer (CEO) Bjorn Gulden aims to work through the rest of the stockpile of controversial footwear in 2024.

The German company has already garnered about €750 million ($800 million) in sales from two Yeezy product drops since May. That’s helped it work through about 40% of its Yeezy inventory stored across various sites around the globe.

It still has about €300 million of the product left on its balance sheet that’s at risk of being written off if Adidas destroys the rest of the footwear.

“We of course hope that we can do more drops next year and that we can get value out of it and donate” proceeds to anti-hate groups, Mr. Gulden said Wednesday on a call with reporters. “But right now, financially, we haven’t made the decision.”

Before the two earlier Yeezy drops this year, Adidas engaged in talks with parties including retailers, consumers and Jewish organizations such as the Anti-Defamation League.

The German company had already donated or set aside a total of €140 million by the end of the third quarter, with the bulk of that money going into a new foundation that will handle future donations.

Now, Adidas is engaged in more talks with these groups as it considers options for the remaining 60% of its Yeezy inventory, Mr. Gulden said.

The company will probably try to sell that remaining stock in 2024 and could generate about €488 million in earnings before interest, taxes, and donations to charity groups, Citi analysts said in a note Wednesday. That would probably bring in more than €950 million in additional revenue, the analysts said.

Adidas canceled the Yeezy collaboration in October 2022 — back when Mr. Gulden was still CEO of rival sports company Puma SE — following a string of antisemitic rhetoric from Ye, formerly known as Kanye West.

Mr. Gulden came under fire in September for saying on a podcast interview that he didn’t think Ye really meant what he said. He subsequently apologized for what he called his “misstatement” via the Anti-Defamation League.

On Wednesday’s media call, Mr. Gulden reiterated that it was the right decision to end the partnership with Ye and said there are no plans to resume business with the rapper and designer. “What he said was not acceptable,” Mr. Gulden said.

Mr. Gulden said his statements on the podcast had been taken out of context. He had been addressing a question about the risk associated with working with celebrities, he noted. “I apologized for what it caused and again, it was not said in the context that people interpreted,” he added. — Bloomberg

Heavy rains flood homes and crops in northern France

REUTERS

SAINT-ETIENNE-AU-MONT, France — Days of heavy rains in northern France have caused rivers to overflow and flood houses and fields, prompting the evacuation of residents, with some having to be airlifted to safety.

More than 100 towns are on red alert, and some 200 schools in the region have been shut. Rescue workers have also had to evacuate cattle.

“It’s catastrophic,” said 32-year-old farmer Gaetan Guche, whose poultry farm has been flooded, with up to 60 centimeters of water at times over the past five days.

Some chickens have been killed by the water, and he is worried about the others, fearing the spread of disease amid the humidity.

“We have to wait for the water to go down before we can see the whole damage. But I’ve had losses in chickens, financial losses in terms of seeds and equipment, and so today, it’s really hard.”

Nearby, strawberry farmer Jean-Loup Mionnet, whose fields are partly submerged in water, said next spring’s harvest was compromised, fearing he will have few to no strawberries.

“We’ve never seen anything like that,” said campsite owner Jean-Marc Joyez in the village of Enquin-sur-Baillons, where many houses are flooded and roads submerged.

Environment Minister Christophe Bechu said dozens of towns would be considered in a situation of natural disaster, which makes it easier for those whose homes or businesses were flooded to benefit from insurance coverage. — Reuters

Yields on gov’t securities decline after inflation data

YIELDS on government securities (GS) traded in the secondary market fell last week, driven by the slowdown of headline inflation as well as the economy’s bounce back in the third quarter.

Bond yields, which move opposite to prices, declined by 11.8 basis points (bps) on average week on week, based on PHP Bloomberg Valuation Service Reference Rates as of Nov. 10 published on the Philippine Dealing System’s website.

Last week, rates were mixed across all tenors with yields on the 91-, 182- and 364-day Treasury bills (T-bills) rising by 1.35 bps, 6.14 bps and 0.89 bp to 6.1845%, 6.4582%, and 6.5917%, respectively.

Meanwhile, the belly of the curve went down as yields on the two-, three-, four-, five-, and seven-year Treasury bonds (T-bonds) fell by 11.04 bps (6.4822%), 13.77 bps (6.5022%), 18.32 bps (6.5184%), 23.27 bps (6.5413%), and 29.22 bps (6.6209%), respectively.

At the long end, the rates of the 10-, 20-, and 25-year debt papers likewise, decreased by 25.62 bps (6.7416%), 8.90 bps (6.8905%) and 8.03 bps (6.8850%), respectively.

On Friday, total GS volume traded fell to P11.43 billion from P16.43 billion, a week earlier.

The local bond market moved lower this week due to slower-than-expected headline inflation in October, a bond trader said in an e-mail.

“Market participants likewise considered the prospects of no further US rate hikes in the near term following the Fed’s dovish pause this month,” the bond trader added.

For Alessandra P. Araullo, chief investment officer at ATRAM Trust Corp., both local and global catalysts leaned hawkishly in October to put significant pressure on local rates.

“Long-end US Treasury yields surged to fresh year-highs towards the 5% level amid a backdrop of a still-hawkish sounding Fed,” she said in a Viber message.

She added that the country’s latest consumer price index (CPI) “surprised to the upside” after reversing back to the 6.1% level in September and having hit a low of 4.7% earlier in the year.

In October, headline inflation slowed down to 4.9%, significantly slower than the 6.1% in September and 7.7% in the same month a year ago, due to easing food prices.

This marked the slowest pace in three months or since July’s 4.7%. 

The October figure also marked the 19th straight month that inflation breached the Bangko Sentral ng Pilipinas’ (BSP) 2-4% target band.

Overseas, surging US Treasury yields sapped investors’ risk appetite and weighed on stocks over the last few months by helping tighten financial conditions as they raised the cost of borrowing for companies and households, Reuters reported.

The report added that some US Federal Reserve officials last month said rising yields could substitute for further rate hikes by the central bank as they tightened financial conditions.

A lot can — and has — changed over the course of a week, Ms. Araullo said.

“[US Treasury yields] have since rallied significantly back below the 4.6% area due to myriad factors, not the least of which is a more dovish sounding Fed,” she said.

Locally, she added that the central bank has similarly tilted dovishly, ruling a November hike out of play and reiterating data dependency.

“BSP rhetoric leaned more aggressively, with an off-cycle hike similarly taking us to a 6.5% policy rate with post-hike rhetoric still indicating further action in November,” she said.

The Monetary Board will have its meeting on Thursday, Nov. 16.

For the bond trader, the downturn in local inflation has beneficially moved inflation expectations lower and its impact on bond yield levels for next year.

“Moreover, the stronger Philippine gross domestic product (GDP) report for the third quarter has bolstered views that the BSP might consider holding the policy rate steady in its November meeting in order to support the rebound in the domestic economic activity,” the bond trader said.

In the third quarter, the Philippine economy expanded by 5.9% driven by the recovery in government expenditures, better than the 4.3% expansion in the previous quarter.

The third quarter economic performance ended three straight quarters of slowing growth.

However, this was still slower than the 7.7% growth a year earlier.

“While the thesis for an immediate reversal on policy from both the BSP and the Fed has been pushed back towards the second half of 2024 potentially — relevant factors indicate that they have decelerated, indicating that the highs hit last week are toppish — with momentum unlikely to push yields significantly higher,” Ms. Araullo said.

She said she had seen a return of buying interest at these levels and continues to see value, reiterating a view on fixed income moving towards yearend and into the first quarter of 2024 when rates are expected to have dropped lower.

This week, the bond trader sees GS yields declining due to some market caution ahead of the BSP policy meeting.

“On the international front, potentially softer US consumer and producer inflation reports for October might support the declining trend in inflation which could exert less pressure for the US Fed to consider more policy rate hikes,” the bond trader said. — Abigail Marie P. Yraola

Lung cancer: What you need to know

ROBINA WEERMEIJER-UNSPLASH

November is Lung Cancer Awareness Month. Lung cancer is the second most common type of cancer in the Philippines after breast cancer, according to the Healthy Pilipinas website of the Department of Health.

Lung cancer begins in the lungs and may spread to lymph nodes or other organs in the body, such as the brain. Cancer from other organs may also spread to the lungs. Common symptoms of lung cancer include coughing that gets worse or doesn’t go away, chest pain, shortness of breath, wheezing, coughing up blood, feeling very tired all the time, and weight loss with no known cause.

Cigarette smoking is the number one risk factor for lung cancer. People who smoke cigarettes are 15 to 30 times more likely to get lung cancer or die from lung cancer than people who do not smoke, warns the US Centers for Disease Control and Prevention (CDC). Even smoking a few cigarettes a day or smoking occasionally increases the risk of lung cancer. The more years a person smokes and the more cigarettes smoked each day, the higher the risk.

Secondhand smoke (smoke from other people’s cigarettes, pipes, or cigars) also causes lung cancer. Living in areas with higher levels of air pollution may increase the risk of getting lung cancer. Individuals whose parents, brothers or sisters, or children have had lung cancer are at risk of developing the disease. This could be true because they also smoke, they live or work in the same place where they are exposed to radon and other substances that can cause lung cancer, or because of an inherited genetic mutation, explains the CDC.

The most important thing you can do to prevent lung cancer is to not start smoking, or to quit if you smoke. Also, avoid secondhand smoke.

The only recommended screening test for lung cancer is low-dose CT scan (LDCT). The US Preventive Services Task Force recommends yearly lung cancer screening with LDCT for people who have a 20 pack-year or more smoking history; those who smoke now or have quit within the past 15 years; and those who are between 50 and 80 years old. A pack-year is smoking an average of one pack of cigarettes per day for one year. For example, a person could have a 20 pack-year history by smoking one pack a day for 20 years or two packs a day for 10 years.

The American Cancer Society (ACS) said that there are two main types of lung cancer. The first is non-small cell lung cancer (NSCLC). About 80% to 85% of lung cancers are NSCLC, and the main subtypes are adenocarcinoma, squamous cell carcinoma, and large cell carcinoma.

The second type is small cell lung cancer (SCLC). It is sometimes called oat cell cancer. This type of lung cancer tends to grow and spread faster than NSCLC, added the ACS. In most people with SCLC, the cancer has already spread beyond the lungs at the time it is diagnosed.

Lung cancer treatment includes surgery (operation to cut out the cancer), chemotherapy (using special medicines to shrink or kill the cancer), radiation therapy (using high-energy rays to kill the cancer), targeted therapy (using special medicines to block the growth and spread of cancer cells). Another option is immunotherapy which is the use of medicines to help a person’s own immune system to recognize and destroy cancer cells more effectively.

In May 2022, the Union for International Cancer Control together with close to 30 partners, including the biopharmaceutical industry, launched the Access to Oncology Medicines (ATOM) Coalition. The coalition is a global partnership with a shared goal to increase access to quality-assured essential cancer medicines in low- and lower middle-income countries, as well as increase the capacity for high-quality diagnosis and treatment.

The International Federation of Pharmaceutical Manufacturers and Associations noted that the level of precision and tailoring in new treatments is on the rise.

In order to treat a specific tumor, for example, a sample will be taken from the patient. It will then be profiled and then manufactured, effectively tailoring a treatment unique to that patient.

The era of personalized medicine has indeed began where a one-size-fits-all treatment is no longer the rule. It is a period that must be harnessed and supported by healthcare systems that put patients at the center of care.

 

Teodoro B. Padilla is the executive director of Pharmaceutical and Healthcare Association of the Philippines (PHAP). PHAP represents the biopharmaceutical medicines and vaccines industry in the country. Its members are in the forefront of research and development efforts for COVID-19 and other diseases that affect Filipinos.

New Falken flagship tire now available here

The Falken Azenis FK520L will come in many sizes and is designed for the demands of contemporary automobiles. — PHOTO BY KAP MACEDA AGUILA

AS JAPAN-HEADQUARTERED international tire brand Falken marks 40 years since its founding, JM Far East, Inc., its exclusive distributor here in the country, recently introduced the Azenis FK520L, which takes its place as the flagship model in the country’s portfolio.

The product, according to JM Far East President and CEO Winston Manabat in his speech during the recent formal launch of the model, is a direct successor of the brand’s popular FK510 ultra-high-performance tire, which it improves upon.

The FK520L, he maintained, addresses the general automotive trend that sees “bigger, wider, and longer” vehicles. “(This is) dictating the direction of tires.” Obviously, with larger vehicles come a bump in weight — along with the commensurate gains in torque and horsepower.

Mr. Manabat added that that Falken portfolio is reflecting this size bump, as it features 74 tire sizes for wheels measuring 12 to 16 inches, and more than double that number (155) for wheels 17 to 22 inches in size. He also attributes the disparity in the number of models in the continuing and increasing popularity of crossovers, which bear larger wheel wells. “That’s why you have to have bigger-diameter tires… and we are still adding more sizes.” The trend is also seeing the trickling down of products once meant for more expensive vehicles to entry-level ones — a change that Falken is seeking to capitalize on as it now caters to a wider demographic.

Back to the made-in-Japan FK520L, it is said to benefit from the brand’s substantial experience in motorsports. “The innovative Azenis FK520L ensures impeccable handling, providing unmatched stability and control at all speeds,” the company said in a release.

Product highlights include a new asymmetric tread pattern that “(ensures) optimum road contact, high braking force, and stability and control in wet conditions,” and a new composition promising 10% longer service life and an eight-percent improvement in dry performance. It also gets an Aramid Layer Reinforcement for better cornering and increased high-speed stability. Aramid is a tough material (stronger yet lighter than steel, insisted Mr. Manabat) used to make bulletproof vests.

The newest iteration of the aforementioned FK510 has also been “honored with multiple awards by different trusted organizations, further emphasizing its global acclaim and excellence,” said JM Far East in a release. The Falken Azenis FK520L is now available at authorized dealers nationwide. — Kap Maceda Aguila

Style (11/13/23)

Fendi releases Golf Capsule 2023

FENDI has released its latest take on sports, the Fendi Golf Capsule, which highlights the golf-style essentials with comfort and sophistication. The collection features a refined palette of beige and navy-blue as seen in a short-sleeved polo shirt with a subtle FF logo on the collar that can be worn with blue or beige cotton Bermuda shorts and a matching knitted gilet which has two vertical jacquard FF bands on the front. A hooded rain jacket complements the looks and follows the same palette of ecru and midnight blue, featuring a reversible azure side. A new declination of the Fendi Roma logo in yellow and white is printed on a long-sleeved cotton polo shirt as well as on the nylon jacket. Bold accessories exclusively designed to hit the green course include a golf bag in black Cuoio Roma leather or in classic tobacco-colored FF logo fabric. The same color combinations are featured on the golf ball and tee holders, which include three Callaway golf balls branded Fendi and four branded wooden tees. Adding to the set, a metal divot with FF engraving can be used to repair ball marks on the grass of the golf course. A set of golf club covers is crafted from white shearling with yellow FF logo intarsia, and is made up of three sizes for Hybrid, Driver and Wood clubs. Following the same Fendi fun spirit, another golf club cover is shaped like a teddy bear knitted in soft brown FF cashmere. The Fendi Golf Capsule is available in selected boutiques worldwide and on fendi.com.

Merrell unveils Agility Peak 5 trail running shoe

MERRELL introduces the Agility Peak 5, the latest evolution in trail running footwear. Boasting a contemporary design, this fifth version of the Agility Peak series maintains its proven elements while embracing innovation, offering a versatile option for trail enthusiasts. Designed for comfort, the Agility Peak 5 prioritizes cushioning without compromising stability. The shoe incorporates a modernized midsole for improved cushioning, while the utilization of FloatPro Foam ensures a reduced overall weight. The outsole’s construction maximizes traction, allowing for a stable and secure run across uneven landscapes. Targeting runners seeking maximum cushioning without sacrificing traction, the Agility Peak 5 provides 50mm of cushion and comfort for rugged terrain. Noteworthy features include a heightened protective mud guard along the shoe’s mesh upper, contributing to increased durability. Merrell engaged pro athletes and its trail team to provide feedback during testing, including participation in the Skyrunning World Championship. Emphasizing sustainability, the Agility Peak 5 incorporates recycled materials, including a recycled mesh lining and footbed, as well as 50% recycled, non-removable EVA foam footbed. Both the Men’s and Women’s Agility Peak 5 shoes cost P6,495. The Agility Peak 5 collection can be found in Merrell concept stores nationwide, major department stores, the official Viber community, and their official webstore www.merrell.com.ph.

Hada Labo releases new moisturizers

HADA LABO, makers of Japan’s No. 1 face lotion, has come out with a new range of moisturizing products. It is introducing Hada Labo Premium Whitening Moisturizers that deliver triple brightening power. This new line of moisturizers consists of Premium Whitening Water Cream and Premium Whitening Water Gel that both contain brightening ingredients niacinamide, alpha-arbutin, and Vitamin C that work together to reawaken dull skin, fight dark spots, and even out skin tone. Each moisturizer is also formulated in a unique way to address specific skin needs. Premium Whitening Water Gel has an ultra lightweight water gel texture that’s instantly absorbed into the skin, a suitable choice for those with normal to oily skin. Premium Whitening Water Cream deeply hydrates skin, making it a great option for all skin types. The Hada Labo Premium Whitening Moisturizers are now available at Watsons stores nationwide and online through the Watsons Online Store, and the official Mentholatum stores on Lazada and Shopee.

Alabang Town Center holds sale with a disco twist

ALABANG Town Center will be holding its Paint The Town Red Sale from Nov. 13 to 19. The mall-wide event promises shoppers discounts of up to 70% from participating merchants. What will truly set this event apart from other holiday sales is the “Discount Disco,” a one-of-a-kind activation that combines Y2K nostalgia with the electric energy of disco. The “Discount Disco” is open to players aged 13 years old and above. Teams of two to four players are welcome to participate. Players will receive a briefing on safety guidelines and will be provided with safety gear. Each team starts with five lives and has 45 seconds to navigate the disco floor. The disco floor is divided into Green, Blue, and Red sections. Green blocks are safe zones, Blue blocks represent points to be collected, and Red blocks are the danger zone. Players must accumulate points during the game, but stepping on a red block results in losing one life, and one point is deducted from the total score. The game ends when a team consumes all five lives. The goal is to achieve the highest score within the time limit, making every move count. Prizes include gift certificates from select Alabang Town Center shops and merchandise. Every participant will also be entitled to a raffle entry for a chance to win accommodations at Lagen Island Resort in El Nido or roundtrip tickets to Siargao, Coron, San Vicente, Camiguin, or Naga. To secure one’s entry into the game, present single or accumulated receipts from any Alabang Town Center store, dated Nov. 13 to 19 (excluding bills payment and telecom lane). For teams of two players, a minimum of P3,000 in single or accumulated receipts is required. For teams of three to four players, a minimum of P5,000 in single or accumulated receipts is required.

Avon’s gift suggestions for Christmas

AVON has suggestions for presents with power this holiday season and beyond. Gift the power to feel confident with the Avon Anew Power Couple Set (P1,499), which is powered by Avon’s Protinol Technology. The gift set features the Avon Anew Renewal Power Eye Cream which instantly blurs and brightens the look of the total eye area, while reducing the appearance of lines and wrinkles over time, and the Anew Renewal Power Serum for dramatically smoother, plumper, and firmer-looking skin which promises a visible difference in just seven days. Then there is the Avon Black Suede Holiday Gift Set (P749) featuring the Black Suede fragrance’s strong notes of warm woods, fresh greens, and leather. The gift set consists of Black Suede Deodorant and Body Wash. Then there is the Avon 5 Days of Surprise Jewelry Set (P699), a collection designed to allow users to craft unique looks. The set includes one necklace chain, one bracelet, three pairs of stud earrings, three necklace pendants, three bracelet charms, and one ring which can be easily mixed and matched. All pieces come in a gold finish. Each box comes in gift-ready packaging. For the home there is the Avon Viennese Waltz Reed Diffuser (P499) with subtle hints of sweet pea, cassis, and musk. Able to last up to five weeks, each diffuser comes in a gift box.

There is also the Avon Dream to Shine Makeup Collection (P309 to P599), with the Dream to Shine Face Highlighter whose creamy texture makes it easy to apply for a soft-focus glitter. The Dream to Shine collection includes Ultra lipsticks in two finishes: Ultra Matte Lipstick gives velvety matte lips that won’t crack, while Ultra Creamy Lipstick provides a creamy 100% satin finish. Both are made with a blend of Vitamin E, avocado oil, and sesame oil. For true makeup lovers there is the Avon Dream to Shine Eyeshadow Palette with 12 intense colorful wells in various finishes. These are just some of the holiday gift sets available on avonshop.ph/collections/gifting-2023, through Avon representatives, and on Lazada, Shopee, and TikTok Shop.

Hello Glow’s solution for underarm woes

HELLO GLOW has launched its newest underarm care offerings: the Hello Glow Whitening Quelch Serum Deo Cream and Hello Glow Rejuvenating Quelch Serum Deo Cream to help users achieve lighter and softer underarms. The Whitening Quelch Serum Deo Cream, which uses a combination of kojic and glutathione, is able to regulate the production of sweat and prevent bad odors, lighten dark underarms, protect and hydrate the skin, and provide a skin-smoothening effect. For underarms with a textured and uneven skin tone, Hello Glow Rejuvenating Quelch Serum Deo Cream contains powerful ingredients with color correct complex that work on the skin’s surface and deep into the pores to help brighten and restore the natural tone of the skin. The addition of niacinamide acid also helps keep breakouts at bay, while tranexamic acid targets post-acne hyperpigmentation for an extra boost in brightening. These two products also have an ultra-soft cream texture that provides antiperspirant and anti-bacterial effects that can last up to 48 hours after application without leaving white or yellow marks on clothes. These products are available for P295 each at Hello Glow’s official online store in Lazada, Shopee, Tiktok Shop, and Official Ever Bilena Resellers.

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