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Unions wary of employer backlash to wage hikes

PHILIPPINE STAR/BOY SANTOS

UNIONS said workers need to organize in case employers respond to proposed wage hikes with staffing reductions and the increased use of casual workers.

In a conference organized by the Trade Union Congress of the Philippines (TUCP) to discuss House Bill 7871 or the Wage Recovery Act, Joanna Bernice S. Coronacion, deputy secretary general of the Sentro ng mga Nagkakaisa at Progresibong Manggagawa (SENTRO) said organizing helps workers practice their collective bargaining rights via unions. 

Business groups have warned that legislated wage hikes or further increases in the minimum wage could force companies to reduce staffing levels.

Ms. Coronacion also encouraged workers to know their rights under the Labor Code to counter practices like the resort to more informal work arrangements should employers refuse to pay the higher wages.

 “When you look at Scandinavian countries… wage negotiations are at the national level… We don’t have that right now because of our low union density. As a result, the gap between rich and the poor is wider,” Mr. Coronacion told BusinessWorld on the sidelines of the conference. 

Separately, Kilusang Mayo Uno (KMU) general secretary Jerome Adonis said employers should absorb the cost of higher pay and not pass on the expense in the form of higher prices, arguing that increased purchasing power in the hands of workers will drive economic growth. 

The Senate has approved on third and final reading Senate Bill 2534, which proposes a P100 increase in the daily minimum wage for the private sector. 

Also participating in the conference were the Bukluran ng Manggagawang Pilipino, Federation of Free Workers, KMU, SENTRO, and the TUCP. The conference was organized in conjunction with a union march on the House of Representatives to call for the immediate passage of the legislated wage hike bills. — Chloe Mari A. Hufana

Kanye West sued by Donna Summer’s estate over use of ‘I Feel Love’

THE ESTATE of disco legend Donna Summer filed a lawsuit in California federal court on Tuesday against Ye, the rap star formerly known as Kanye West, accusing him of incorporating her 1977 hit “I Feel Love” into his new album without permission.

The lawsuit said that Ye and singer Ty Dolla $ign used “instantly recognizable” parts of her song in “Good (Don’t Die)” for their collaborative album Vultures 1 after the estate had explicitly rejected their request to sample it.

Representatives for Ye and Ty Dolla $ign, whose given name is Tyrone Griffin, could not be reached for comment. An attorney for the Summer estate said it would “let the complaint speak for itself.”

Ye, who legally changed his name from Kanye West in 2021, sparked outrage in 2022 with a series of antisemitic social-media posts. The rapper apologized for his remarks in December.

Ye and Griffin released Vultures 1 on Feb. 10. It is currently the best-selling album in the US, according to Billboard.

Donna Summer’s estate said that it rejected a request to allow Ye and Griffin to sample “I Feel Love” on Feb. 3.

“The Summer Estate not only considered the immense commercial value of the ‘I Feel Love’ composition, but also the potential degradation to Summer’s legacy,” the complaint said. “West is known as a controversial public figure whose conduct has led numerous brands and business partners to disassociate from him.”

The lawsuit said that Ye and Griffin re-recorded the hook of “I Feel Love” with a different singer for their album despite the estate’s “absolute prohibition” against the use of Ms. Summer’s recording or a “soundalike.”

The estate requested monetary damages and asked the court to permanently block Ye and Griffin from infringing Summer’s copyrights. — Reuters

Bloomberry Resorts: No deal yet for Jeju casino sale

RAZON-LED Bloomberry Resorts Corp. said it is open to selling its stake in Jeju Sun Hotel & Casino in South Korea.

“Bloomberry hereby clarifies that it is open to the possibility of selling its interest in Jeju Sun Hotel & Casino and there had been several expressions of interests and offers in the past,” the company said in a stock exchange disclosure on Thursday.

Bloomberry said there is no deal yet regarding the sale of Jeju Sun Hotel & Casino.

“There is no imminent deal with respect to the sale of Jeju Sun Hotel & Casino although there is growing interest in the property from potential buyers,” the company said.

In June 2016, the company agreed to sell its 96.23% stake to Iao Kun Group Holdings for $102.5 million. However, in December of that year, Bloomberry Chair and Chief Executive Officer Enrique K. Razon, Jr. said that the sale of Jeju Sun Hotel & Casino did not push through.

Bloomberry previously said that Jeju Sun Hotel & Casino recorded P14.7 million in gross gaming revenue for the third quarter of 2023, a P10 million increase compared to the previous quarter.

According to Bloomberry’s website, Jeju Sun Hotel & Casino is five minutes away from Jeju International Airport and 30 minutes away from Jeju’s most visited tourist attractions. It features over 200 rooms and a casino with 47 table games and 39 slot machines.

Bloomberry shares dropped by 3.44% or 40 centavos to P11.22 per share on Thursday. — Revin Mikhael D. Ochave

Philex Mining income down 43% in 2023

PHILEX Mining Corp. saw a 43.3% decline in its 2023 attributable net income to P1.02 billion, mainly due to lower revenues from its gold and copper operations.

“We shall continue pursuing our other business development activities to ride on the current trend towards green metals technology,” Philex Mining Chairman Manuel V. Pangilinan said in a disclosure on Thursday.

The company’s revenues dropped to P7.73 billion last year, marking a 16.3% decrease from the P9.26 billion recorded in 2022.

“Total tonnage milled for 2023 declined by 7.8% resulting to lower operating revenues for the year,” Philex Mining said. Ore production dropped to 6.85 million tons from 7.43 million tons the prior year.

The company’s gold output reached 37,784 ounces during the year, 22% lower compared to the 48,567 ounces of gold for 2022.

Its copper production also fell to 21.298 million pounds from 25.086 million pounds a year ago.

“Gold ore grades declined by 9% and Copper ore grades declined by 6%,” it added.

The company’s operating costs decreased by 6% to P6.67 billion in 2023 from P7.12 billion the previous year.

This was on the back of a 7.8% decline in tonnage milled, “offset by the impact of the elevated cost of materials and supplies.”

For 2024, Philex Mining President and Chief Executive Officer Eulalio B. Austin, Jr. said that the company would continue to leverage the operations of its Padcal mine.

“We will pursue our re-fleeting of critical equipment, continue optimizing the current ore body, as well as engage in relentless power optimization improvements and aggressive training of our employees. These are aside from further exploring the vicinity of Padcal Mine,” Mr. Austin added.

Additionally, Mr. Pangilinan said that the company expects to complete the evaluation of its nickel tenement in Zambales within the year.

He said last year that the company was venturing into nickel mining amid the increasing demand for the mineral by electric vehicle makers.

Philex is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Metro Pacific Investments Corp. and PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interest in BusinessWorld through the Philippine Star Group, which it controls. — Adrian H. Halili

The imperatives of sustainable tourism in the Philippines

PHILIPPINE STAR/MIGUEL DE GUZMAN

Sustainable tourism is an approach to travel that prioritizes environmental, social, and economic considerations to ensure that tourism activities can endure over time without compromising the well-being of future generations.

In the Philippines, a country known for its stunning natural beauty and diverse cultural heritage, the implementation of sustainable tourism practices becomes crucial. This is especially true given the role of tourism in the country’s economic growth.

The Philippine Department of Tourism (DoT) recently expressed optimism about the country’s prospects for more tourism dollars after the country surpassed its 2023 target in tourist arrivals. Based on official records, the previous year closed with a total of 5,450,557 international visitors to the Philippines, which is 650,000 higher than the original target of 4.8 million. According to the DoT, 91.8% of the visitors were foreign nationals mostly coming from South Korea (26.41%), the United States (16.57%), Japan (5.61%), Australia (4.89%), and China (4.84%).

As the country welcomes more international visitors, coupled with the resurgence of local tourism, it has become imperative for the government to balance its drive to generate tourism proceeds with more sustainable practices in tourism.

One of the primary advantages of sustainable tourism is the preservation of natural resources. In the Philippines, destinations like Palawan have embraced eco-friendly practices to protect their pristine beaches and coral reefs. The local government has implemented strict regulations on waste management and enforced responsible tourism guidelines to safeguard these delicate ecosystems. Sustainable tourism also plays a pivotal role in preserving the rich cultural heritage of the Philippines. In places like Batanes, efforts have been made to promote community-based tourism, allowing visitors to experience the local way of life while contributing to the economic development of these communities. This approach helps in maintaining traditional practices and ensures that cultural heritage is not lost in the wake of tourism.

Sustainable tourism creates economic opportunities for local communities. By engaging in community-based tourism initiatives, the Philippines has seen the rise of homestays, locally run tour operations, and handicraft businesses. This economic diversification reduces dependency on a single industry, making these communities more resilient to economic fluctuations.

But sustainable tourism comes with its own challenges. Despite efforts to promote sustainable tourism, some popular destinations in the Philippines still face the threat of over-tourism. Boracay, for instance, struggled with environmental degradation and overcrowding, leading to a temporary closure for rehabilitation. Managing visitor numbers and ensuring carrying capacity are critical challenges in sustaining these destinations. Insufficient infrastructure can hinder the implementation of sustainable tourism practices. Many remote areas in the Philippines lack proper waste management systems, water treatment facilities, and transportation networks. The absence of these crucial elements can strain local ecosystems and compromise the overall sustainability of tourism in these regions.

The commercialization of culture is yet another challenge associated with tourism in the Philippines. In some cases, traditional practices and cultural events are modified to cater to tourist expectations, leading to a loss of authenticity. Striking a balance between sharing cultural heritage with visitors and preserving it in its true form remains a significant challenge.

Sustainable tourism in the Philippines presents a dual reality of both successes and challenges. While initiatives in destinations like Palawan and Batanes demonstrate the positive impacts of responsible tourism, challenges such as over-tourism, inadequate infrastructure, and cultural commodification persist. The key lies in continuous collaboration between the government, local communities, and tourists to strike a balance that ensures the longevity of the tourism industry while safeguarding the natural and cultural treasures of the Philippines. Only through such collective efforts can the archipelago achieve a sustainable and resilient tourism sector that benefits both present and future generations.

There are, however, success stories in nearby countries that we can emulate in implementing serious sustainable tourism initiatives. Bali, Indonesia’s success in sustainable tourism lies in its commitment to preserving its natural beauty. The island has implemented waste management programs, enforced regulations on water use, and encouraged eco-friendly accommodations. The Philippines can draw inspiration from Bali’s integrated approach to sustainability, considering similar measures to protect its own natural wonders. Chiang Mai’, Thailand’ success in community-based tourism, demonstrates the potential for empowering local communities. By engaging with visitors in a way that respects traditions and fosters economic growth, the Philippines can replicate this model where cultural preservation and community involvement are crucial.

We should be able to learn also from Malaysia, whose commitment to ecotourism is evident in projects like the Royal Belum Rainforest. This initiative focuses on biodiversity conservation while offering sustainable tourism experiences. The Philippines can develop and protect its own biodiversity hotspots, such as the Tubbataha Reefs Natural Park, through ecotourism initiatives that contribute to both conservation and local economies.

Another role model is Vietnam, whose success in community-based tourism in Sapa demonstrates the power of involving local communities. The Vietnamese government, along with NGOs, has facilitated homestays and cultural experiences, providing economic opportunities for residents while preserving traditions.

Lastly, we should be able to learn as well from Singapore which has embraced sustainable tourism through projects like Gardens by the Bay. The incorporation of green spaces and sustainable architecture showcases the city-state’s commitment to balance urban development with environmental responsibility. The Philippines can adopt similar practices in its urban tourism hubs like Manila.

As we continue to learn from best practices, the country should also strengthen and promote initiatives that will further bolster our sustainable tourism campaigns. For one, the foundation for sustainable tourism in the Philippines lies in a robust policy framework and effective regulation. The government can establish and enforce policies that promote responsible tourism, including regulations on waste management, carrying capacities for popular destinations, and incentives for businesses adopting sustainable practices. Engaging local communities remains paramount for the success of sustainable tourism. The government can facilitate community-based tourism initiatives, encouraging the active participation of locals in decision-making processes. This involvement ensures that communities become stakeholders in the industry, fostering a sense of responsibility.

Another area of focus requires the provision of appropriate infrastructure to support environmental and cultural preservation. The government can invest in eco-friendly infrastructure, including renewable energy sources, and sustainable transportation options. This not only enhances the visitor experience but also minimizes the impact on local ecosystems.

Ultimately, two major areas of concentration matter: collaboration and massive education of all stakeholders. Collaboration between the government, the private sector, and local communities is crucial. The government can foster partnerships with businesses, non-governmental organizations (NGOs), and international bodies to pool resources and expertise. Such collaboration ensures a holistic approach to sustainable tourism, addressing diverse challenges with collective solutions. On the other hand, educating both tourists and local communities about sustainable practices is essential. The government can implement awareness campaigns highlighting the importance of responsible tourism, sustainable resource use, and cultural preservation. Tourists, armed with knowledge, can make more informed choices, contributing to the sustainability of the industry.

As the Philippines continues to grapple with the challenges posed by its growing tourism industry, embracing sustainable practices becomes not only a choice but a necessity. The future of sustainable tourism in the Philippines requires a concerted effort from the government, businesses, and local communities. Drawing inspiration from successful initiatives in Southeast Asia, the Philippines has an opportunity to redefine its approach to tourism. Through the adoption of responsible practices, community empowerment, and a commitment to preserving both natural and cultural assets, the nation can pave the way for a sustainable tourism industry that benefits not only the economy but also the environment and local communities. The time to act is now, and by doing so, the Philippines can chart a course towards a future where tourism is a force for positive change rather than a threat to its own treasures.

 

Ron F. Jabal, DBA, APR, is the chairman and CEO of PAGEONE Group (www.pageonegroup.ph) and founder of Advocacy Partners Asia (www.advocacy.ph).

ron.jabal@pageone.ph

rfjabal@gmail.com

Philippine budget deficit narrows down to P1.51 trillion in 2023

The National Government’s (NG) budget gap narrowed in 2023, but exceeded the ceiling as both revenues and expenditures surpassed the programs, the Bureau of the Treasury (BTr) said. Read the full story.

Philippine budget deficit narrows down to P1.51 trillion in 2023

CADPI stops all business operations

LISTED Roxas Holdings, Inc. announced on Thursday that its unit Central Azucarera Don Pedro, Inc. (CADPI) has ceased all operations since Feb. 28 due to losses.

“CADPI is forced to terminate the employment of all of its employees on the ground of closing or cessation of operations,” it said in a disclosure.

The company added that the official termination date for CADPI employees would be on March 29.

“In compliance with Article 298 of the Labor Code, CADPI has given notice both to the Department of Labor and Employment and the affected employees for at least 30 days before the effective date of termination,” it added.

CADPI shuttered operations of its milling site in Batangas last year, citing the challenging operating environment, old equipment, and the lack of cane being brought in for milling.

The Batangas mill used to process 10,000–13,000 tons of sugarcane per day.

Gokongwei-led Universal Robina Corp. had also acquired CADPI’s sugar processing machinery and equipment to expand its sugar mill’s capacity in Balayan, Batangas.

It said that the acquisition would increase the capacity of its Batangas mill to 8,000 tons of sugar a day from the 5,000 tons previously produced.

Pablo Luis S. Azcona, administrator for the Sugar Regulatory Administration, said that the country’s capacity to process sugarcane will now be limited to Visayas and Mindanao.

“The sad effect is the loss of employment, and secondly the loss of refining capacity for Luzon. So now premium refined will come from four mills in Negros and one in Bukidnon,” Mr. Azcona said in a Viber message. — Adrian H. Halili

Diversification revisited

A recent article in The Economist by Buttonwood asks the question: “Should you put all of your savings into stocks?” The piece is motivated by the recent surge in the US and Japanese stock markets.  The S&P 500 index of big American companies is up by 5%, having passed 5,000 for the first time.  In February, Japan’s Nikkei 225 passed its own record set in 1989.

The report included studies by Anarkulova, Cederburg and O’Doherty who make a case for a portfolio of 100% equities through a review based on data going back to 1890. Ayres and Nalebuff of Yale University even argued for a strategy of borrowing by young people in order to buy stocks, before diversifying and deleveraging later in life.  However, an even longer view by McQuarrie dating back to the late 18th century showed decades when bonds outperformed stocks.

Of course, this view is contrary to mainstream belief that a good mixture of stocks and bonds works best for the regular investor. The US and Japan equity indices may be at all-time highs, but for how long? The stock concentration argument is based on the very long run. And in that same period, we are all dead unless we are blessed with the magic of one famous centenarian politician.   The gyration of the markets still supports a more balanced perspective.

It is true that the potential for high return exists in equity, but it comes with an equally high level of risk and volatility.  Stock prices can be unpredictable, influenced by various factors like economic conditions, geopolitical events, and company performance.  Prices can fluctuate significantly in a short period, and one may experience substantial losses. It could jeopardize financial stability, especially if access to savings is an exigency for the short term.

Diversification involves spreading your investments across different asset classes and securities to reduce risk and enhance the potential for returns.  Different asset classes such as stocks, bonds, real estate and cash equivalents have unique risk and return characteristics. By allocating across various classes, the benefit is when assets perform differently under different economic conditions. When stocks face a downturn, bonds or real estate may offer stability or even appreciate. In China today, for example, young investors have been buying gold as a refuge from local property and stock market mayhem.

Statistics play a crucial role in assessing the effectiveness of diversification. Modern Portfolio Theory (MPT) developed by Henry Markowitz is a statistical framework that formalizes the concept of diversification.  MPT uses statistical measures like expected return, standard deviation, and covariance to optimize portfolio allocation.

Standard deviation is a measure of dispersion of returns from the mean. When combining assets with different standard deviations, the overall portfolio standard deviation may be lower than the weighted average of individual standard deviations. This is the “diversification effect” where a well-constructed portfolio can achieve a more favorable risk-return tradeoff.

The key to achieving the “diversification effect” is correlation, which measures the degree to which returns of two assets move in relation to one another.  Diversification benefits are maximized when assets have low or negative correlation because they are less likely to move in the same direction at the same time.

Other statistical tools are models like Monte Carlo simulations which are employed to assess potential outcomes and risks under various market conditions.  The concept of the Sharpe ratio, a measure of risk-adjusted return, helps investors evaluate whether the additional risk taken on is compensated by higher returns.

Moving on from asset classes, further diversification can be achieved by selecting a mix of equity companies of different sizes, industries, and geographical regions.  Similarly in the bond market, diversification can be across different issues, maturities, and credit qualities. Industry diversification considers distinct economic cycles, regulatory environments, and risk factors. Spreading investments across various sectors can provide a buffer against downturn in any single industry.

Other considerations include the length of time an investor plans to hold the investments.  Risk tolerance is also a critical factor because each investor has unique ability to tolerate risk influenced by factors like age, financial goals and personal circumstance.

Despite the surge in recent times that provides temptation to put all money in stocks, particularly in the US and Japan, and the study citing the superiority of a pure equity approach in the very long run, this concentration approach is fraught with dangers.  Do not put all your eggs in one basket. Better still, choose baskets that exhibit low correlation.

The tried and tested rule of diversifying your investments across a range of assets can help manage risk, increased potential returns, and create a more resilient portfolio. Regular portfolio monitoring and rebalancing are essential for maintaining effective diversification.

The views expressed herein are his own and does not necessarily reflect the opinion of his office as well as FINEX.

 

Benel Dela Paz Lagua was previously EVP and chief development officer at the Development Bank of the Philippines.  He is an active FINEX member and an advocate of risk-based lending for SMEs. Today, he is independent director in progressive banks and in some NGOs.

The limits to hiring contractual workers

A human resources (HR) manager at a medium-sized enterprise often brags of a manpower ratio of 90%-10% in favor of temps sent by manpower agencies and a labor cooperative. Is there a limit to the number of temporary workers that we can hire? — Moon River.

The company you mentioned could be on treacherous legal ground. Having a contractual ratio that high is asking for trouble when labor inspectors come around. It can happen any time because anyone can file an anonymous complaint with the Labor department.

An employer who refuses to accept a labor inspector’s request for access to HR records may invite the filing of a criminal action. I know, it’s not easy to get a result of things go down this road — there’s a process for that. But even a visit by labor inspectors could have a chilling effect to management.

Don’t get me wrong — the hiring of workers from manpower agencies or labor cooperatives is a common business practice. Outsourcing of employees is imperative, giving companies much-needed flexibility to operate efficiently in the face of production ups and downs.

Temps can free the principal organization (client) from the tedious administrative tasks of sourcing, training, even disciplining workers. Aside from the cost benefits, it is easy to terminate the temps if they break the rules or as soon as they become unnecessary to the business.

EXTRA CAUTION
Extra caution must be exercised when hiring temporary workers as the practice can be abused by management, as in for instance the 90%-10% ratio you have encountered. If not controlled, there will come a time when tensions could arise when regular workers act like toxic bosses or difficult colleagues who treat the temps like second-class citizens.

With that, let me list down the pros and cons of having more temps than regulars.

Training. The inclusion of temps and regular workers in the same training program is beneficial to the organization. That means putting them all on the same page makes everyone understand what is expected of them. One caveat, though. There’s a possibility that temps may use the training program as a stepping stone to look for jobs elsewhere.

Uniforms. Avoid giving the same type of uniform for both the temps and regular workers. If you’re careless about it, there will come a time when the practice could be used as evidence against the principal. This caveat also applies to identification (ID) cards. Let the manpower agency issue the IDs and uniforms for the temps.

Teamwork. Many regular workers treat temps as inferiors. This makes it difficult to create and maintain camaraderie with people who will not be staying long. Therefore, it’s best to assign temps to work situations where there’s no need for extensive collaboration with regular workers or customers.

Safety. In many cases, temps are not given any personal protective equipment (PPE) by their employer-agency even in unsafe, unhealthy, and hazardous work situations. Many unprincipled agencies do this to save money and often in connivance with their principal-clients.

Legality. The most common issue in hiring temps is when the principal client and its agents violate the four-fold employment test: Once, selection and engagement of workers. Two, payment of their wages and benefits. Three, power of dismissal. And four, the authority to control the worker’s conduct. Other than no. 2, the rest are usually done by the principal-client.

‘USUALLY NECESSARY’
Aside from hiring temps or contractual workers, there are many options that an employer can pursue if it’s unsure about the viability of its business operations over the long term. These options include the hiring of fixed-term employees, casuals, project workers, part-timers, and seasonal workers. Even interns or apprentices may be considered.

Be that as it may, even these modes could be subject to legal challenge. The issue centers on Article 295 of the Labor Code, which sets the definition of regular employment. This provision says a job is “deemed to be regular where the employee has been engaged to perform activities that are usually necessary or desirable in the usual business or trade of the employer.”

In conclusion, an organization is only as good as the people that it hires and maintains. Recruitment and selection are twin strategies that can’t be ignored. All organizations, regardless of the nature of their business, must strive hard to attract the best and the brightest.

While there’s always an abundant supply of talent in the Philippines, all job candidates must pass through a thorough process of recruitment and selection if the organization is to find the workers that best fit its needs.

 

Bring Rey Elbo’s popular leadership program called “Superior Subordinate Supervision” to your management team. Contact him on Facebook, LinkedIn, X (Twitter) or e-mail elbonomics@gmail.com or via https://reyelbo.com

Seventeen’s album FML tops IFPI global chart as K-pop dominates

SEVENTEEN - 10th Mini Album — AMAZON.COM

LONDON — Seventeen’s FML was on Tuesday named last year’s biggest-selling album globally, with the K-pop band topping the chart run by industry body the IFPI for the first time.

Five of the chart’s top 10 albums were by South Korean acts, representing the best ever Global Charts performance for K-pop, the IFPI said.

FML, released last April, was the most pre-ordered in K-pop history and topped charts in South Korea and Japan, the body which represents the global recorded music industry said. It also made the top five in the United States and France.

The 13-member group scooped the IFPI Global Album Award for 2023, a prize calculated according to an album’s sales across streaming, download, and physical formats around the world.

The boy band’s Seventeenth Heaven record, which came out in October, ranked number 8. The IFPI rankings did not provide a figure or equivalent for total albums sold.

“The global appeal of K-Pop continues to extend and S.Coups, Jeonghan, Joshua, Jun, Hoshi, Wonwoo, Woozi, DK, Mingyu, The8, Seungkwan, Vernon and Dino continue to push the boundaries with their concepts, performances and talent,” Lewis Morrison, director of global charts & certifications at IFPI, said, naming Seventeen’s members.

Fellow South Korean boy band Stray Kids’ 5-Star and US country singer Morgan Wallen’s One Thing at a Time ranked 2 and 3 respectively, with Taylor Swift’s Midnights and 1989 (Taylor’s Version) albums making up the rest of the top 5.

Swift was last week named global recording artist of the year for the fourth time by the IFPI. On Tuesday, the body announced Miley Cyrus’ hit “Flowers” as the world’s best-selling single in 2023. — Reuters

Entertainment News (03/01/24)

DZFE marks 70 years with classical concert

CELEBRATING 70 years of broadcasting classical music is 98.7 DZFE “The Master’s Touch,” which will mark the occasion with Gloria, a concert focusing on the music of Bach and the Baroque Masters. The concert will feature musicians of the 49th International Bamboo Organ Festival, including the Manila Baroque Ensemble and the Collegium Vocale Manila, conducted by Noemi Binag and Beverly Shangkuan-Cheng. It will take place on March 2, 3 p.m., at the Union Church of Manila in Legaspi Village, Makati City. Admission is free but donations are welcome for the 70-year-old station. For online registration and other details, visit dzfe.febc.ph or DZFE’s Facebook page.

French Film Festival goes to Cebu

THE EMBASSY of France and the Alliance Française de Cebu present the French Film Festival in Cebu, giving Cebuano movie-goers a glimpse into French culture through the diversity of its cinema. Festival films include the romantic comedy Les choses qu’on dit, les choses qu’on fait, a hip-hop movie Supremes, the classic films Le dernier metro and Les parapluis de Cherbourg, the environmental drama Goliath, and the modern-day comedy Les deux Alfred. Screenings are being held at SM City Cebu until March 3. For the full schedule, visit the Alliance Française social media pages.

The Regime to premiere on HBO GO

THE SIX-EPISODE HBO original limited series The Regime will be bringing HBO viewers and HBO GO subscribers a dose of dark comedy this March. The series tells the story of a modern authoritarian regime as it begins to unravel, starring Academy Award-winner Kate Winslet. The rest of the cast includes Matthias Schoenaerts, Guillaume Gallienne, Andrea Riseborough, Martha Plimpton, and Hugh Grant. It is written by Will Tracy and directed by Stephen Frears. The Regime debuts on March 4.

Kung Fu Panda 4 in PHL cinemas this March

BACK on the big screen nationwide is Po, the legendary kung fu-fighting panda voiced by Jack Black, as he embarks on adventures as the Dragon Warrior in the fourth film in the Kung Fu Panda series. As a new villain threatens his world, Po must team up with a Corsac fox thief named Zhen, voiced by Awkwafina, to restore peace. The villain is the Chameleon, a powerful sorceress voiced by Oscar winner Viola Davis. Other voices in the animated film are those of Dustin Hoffman, James Hong, Bryan Cranston, Ian McShane, and Ke Huy Quan. Kung Fu Panda 4 is distributed by Universal Pictures International and opens in Philippine cinemas March 6.

Ben&Ben guesting at Ed Sheeran concert

OPM group Ben&Ben will be a special guest at the Manila stop of Ed Sheeran’s highly anticipated + – = ÷ x (pronounced “Mathematics”) concert tour. The concert will be held on March 9 at the SMDC Festival Grounds, Parañaque City. In response to popular demand, a new General Admission section has been added. Tickets are available at ovationtickets.com and smtickets.com, and are priced from P1,500 to P20,500.

Newport to hold The Platters tribute concert

THIS March, Newport World Resorts relives the greatest rock and roll hits and classic R&B tunes of the 1950s American vocal group, The Platters. In the two-night concert, The Golden Sounds of The Platters, the audience can expect to hear enduring hits like “Smoke Gets in Your Eyes,” “Only You,” and “The Great Pretender” brought to life onstage by the tribute act, The Golden Sound of The Platters. It will take place on March 9 and 10 at the Newport Performing Arts Theater. This is the group’s first time back in the Philippines since 2019. Tickets are now available via SM Tickets and TicketWorld, priced from P800 to P6,000.

Bob Marley: One Love in PHL cinemas

LOOKING into the life of the legendary Bob Marley is a monumental task undertaken by director Reinaldo Marcus Green in the upcoming film Bob Marley: One Love. With the Marley family’s involvement, lead actor Kingsley Ben-Adir hopes to bring as much of the famed musician as possible in his role. “It aims to debunk the myths about Bob, to delicately weave uncomfortable truths, and honor the man who gave us so much joy. It lives between the lines, beyond the surface,” said the director in a statement. Bob Marley: One Love opens in Philippine cinemas on March 13.

Lunadira releases new album

MALAYSIAN singer-songwriter Lunadira has released her debut album, i’ll be alright, right?, via TONGTONG Asia. This follows her first four singles that gave the public a taste of her style of pop, mixing RnB, garage rock, and grunge. “It is not a celebration but an observation of the uncertainty of life and dealing with that ungracefully, and accepting that there is grace in uncertainty,” Lunadira said in a statement, describing her album. Longtime musical partner Reddi Rocket also collaborated on the project with her. The album is out now on all streaming platforms.

K-pop group CRAVITY releases mini album

THE K-pop group CRAVITY is back with their 7th mini album, EVERSHINE, which aims to encapsulate “the passionate love of youth.” The album follows their first world tour and official debut in Japan. Having debuted in 2020 at the height of the pandemic, the nine-member group aims to grow as musicians, as seen in the latest album which fuses pop, rock, and dance music. EVERSHINE is out now on all streaming platforms.

GAYLE to perform in Manila in May

FOR the first time, American singer-songwriter GAYLE, known for the hit single “abcdefu,” will be performing in Manila on May 29 at The Podium Hall. The 19-year-old has gained recognition for her extended plays, “a study of the human experience” parts one and two, which encapsulate her emotionally vulnerable style of music. Tickets to GAYLE’s concert in May are now available via SMTickets.com and SM Tickets outlets.

How PSEi member stocks performed — February 29, 2024

Here’s a quick glance at how PSEi stocks fared on Thursday, February 29, 2024.

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