HEADLINE INFLATION likely slowed to a near four-year low in September amid falling prices of rice and fuel, giving the Bangko Sentral ng Pilipinas (BSP) room to cut benchmark interest rates further, analysts said. Read the full story.
THE Department of Agriculture (DA) said it banned imports of poultry and wild birds from France after an outbreak of Highly Pathogenic Avian Influenza (HPAI) or bird flu.
In Memorandum Order no. 40, the DA said shipments of domestic and wild birds, poultry meat, day-old chicks, eggs, and semen from France were suspended.
“There is a need to prevent the entry of the HPAI virus to protect the health of Philippine poultry,” it added.
According to the Bureau of Animal Industry, avian flu cases in the Philippines have been detected in 53 municipalities across nine provinces as of Sept. 20.
The French authorities had submitted a report to the World Organization for Animal Health regarding an outbreak of H5 (N untyped) HPAI cases there.
A case was reported in Saint-Malo in Brittany on Aug. 7, according to an official report submitted by the French authorities on Aug. 12.
It added that all shipments coming from France that are already in transit, loaded, or accepted into port would be allowed provided that the products were slaughtered or produced before July 25.
In April, the DA had lifted the import ban of domestic and wild birds from France after cases of HPAI were resolved. — Adrian H. Halili
CHINESE AUTOMOBILE brand DFSK (Dongfeng Sokon Automobile) recently made its entry in the Philippine market official. Three electric vehicle (EV) offerings were unveiled to the public at the TriNoma Mall in Quezon City: the DFSK Candy Mini EV, the DFSK E5 PHEV (plug-in hybrid electric vehicle), and the DFSK EC75 commercial van. The Chinese brand is a wholly owned subsidiary of the Seres Group, which has maintained a partnership locally with QSJ Motors since 2018.
“This an exciting time as we unveil the latest models of our electric vehicles,” QSJ Motors Junior Business Manager Kenneth Chang told guests which included bank partners, members of the media, and key opinion leaders. “It marks a significant milestone for our company as we introduce DFSK vehicles. These vehicles are not just a culmination of our dedicated efforts but also our commitment to pushing the boundaries of automotive excellence.”
The compact Candy Mini EV is said to be a cost-effective alternative to traditional vehicles, according to DFSK. The four-seater boasts up to 220 kilometers of pure battery range on a single charge, and has a 16.8-kWh battery capacity. Technology offerings include an advanced infotainment system, parking radar, and cruise control. The Candy Mini EV is priced at P658,000 and is recommended by the brand for short trips, such as running errands or going to and from the office.
Meanwhile, with the E5 PHEV, the company targets those who are looking for a PHEV for the urban commute and weekend drives. The mid-sized sport utility vehicle seats seven and has a combined range of 1,150 kilometers, with the pure electric range pegged at 100 kilometers. Available in the E5 are a dual-screen infotainment system, seat ventilation, advanced driver assistance systems (ADAS), in addition to hill start assist, traction control, and hill descent assist. The vehicle has a panoramic sunroof and a surround sound system with four speakers for the M1 variant and 12 speakers for the M2 variant. Other features in the M2 are front and rear parking radar, automatic air-conditioner control, and an intelligent air purification system. Both variants come in black, and white plus gray colors, while the M2 can also be purchased in brown. Pricing starts at P1.58 million.
Finally, the EC75 commercial van, also referred to as the “E-Negosyo Van” by DFSK in the Philippines, is fully electric. The vehicle can accommodate two and offers a seven-cubic-meter cargo space. Fully charging the 50.38-kWh battery can take as little as 45 minutes, providing the van with up to 310 kilometers of electric range. Its smart features include ADAS and real-time tracking and fleet management systems. This vehicle is priced at P1.45 million.
In a statement, DFSK says that the introduction of its vehicle lineup is designed to meet the growing demand for sustainable transportation, and contribute to efforts to combat climate change. For more information, visit www.dfsk.com.ph. — Joyce Reyes-Aguila
STOCKHOLM — Swedish fashion retailer H&M is banking on lower prices and a wider range of trendy clothing compared to basics to drive sales among cautious consumers in the crucial shopping months leading up to the end of the year.
Shoppers are already starting to browse for holiday items and H&M recently launched its homeware collection for the holiday season, CEO Daniel Erver said, adding that value for money will be critical as households are still under financial pressure.
H&M is the first global retailer to offer insights into its outlook for the upcoming holiday shopping season, a critical sales driver for the sector.
“We see a high search interest, actually, in holiday (products) already now,” Mr. Erver told Reuters in an interview, referring to online search trends.
He was speaking after the retailer ditched its hope for a 10% operating margin this year and reported weaker than expected third-quarter profit, but said it sees sales for September — the first month of its fourth quarter — jumping 11% compared to a year ago.
While H&M sells many cheap evergreen basics like $19.99 jeans and $7.99 T-shirts, Mr. Erver said it is shifting to a bigger share of trendy pieces that people will buy no matter the weather.
“Where we are shifting and doing the biggest leap is updating the assortment to make it more relevant, to make it in current fashion, updated aesthetics, that’s where were performing the best and that’s also the least weather-dependent,” he said.
CELEBRITY APPEAL
Shiny leather dresses with silver studs, knee-high boots, and mohair tops and skirts embellished with rhinestones all featured prominently in H&M’s autumn/winter collection modelled by pop star Charli XCX, who performed at H&M’s London Fashion Week launch two weeks ago, and supermodel Kate Moss’ daughter Lila Moss, among other celebrities.
A fluffy leopard print coat worn by Charli XCX in the advertising campaigns sold out in minutes, Mr. Erver told Reuters. He is betting that star power will boost H&M’s brand and justify the marketing splurge that is part of his turnaround strategy.
“The focus on fashionability, brand heat and activating collections with collaborations has always been probably the strongest piece of H&M’s business, and basics have just become more and more competitive,” said Deutsche Bank Research analyst Adam Cochrane.
Increasing marketing spending is “100% the right thing to do to reignite the H&M brand,” Mr. Cochrane added.
H&M will still have to use discounts to lure cash-strapped shoppers, though, and on H&M’s US website many of the items in the autumn/winter collection were marked down between 15% and 42%. A burgundy synthetic leather skirt, slashed to $10.49 from $17.99, showed as sold out.
Overall US retail sales growth is expected to be muted during the holidays as prudent shoppers hold out for the best bargains, industry experts predict.
North America is a “more challenged” region for consumer demand, Mr. Erver said. — Reuters
More than 55 million people have dementia worldwide, over 60% of whom live in low- and middle-income countries (LMICs), according to the World Health Organization (WHO). Every year, there are nearly 10 million new cases.
As of 2020, there were 9.22 million Filipinos 60 years and older, with more women (55.5%) than men (44.5%), according to the latest Philippine Statistics Authority census. Based on the calculated prevalence rate, there are approximately almost a million Filipino senior citizens living with dementia, a figure which is estimated to increase to 1.5 million by 2030, nearly 2 million by 2040, and 2.5 million by 2050.
Dementia is a term for several diseases that affect memory, thinking, and the ability to perform daily activities. It is a syndrome that results from a variety of diseases and injuries that affect the brain. Alzheimer disease is the most common form of dementia and may contribute to 60% to 70% of cases.
The illness gets worse over time, and eventually most people with dementia will need others to help with daily activities. Dementia is currently the seventh leading cause of death and one of the major causes of disability and dependency among older people globally, the WHO said.
Dementia mainly affects older people but not all people will get it as they age. Factors that increase the risk of developing dementia include age (more common in those 65 or older); high blood pressure (hypertension); high blood sugar (diabetes); being overweight or obese; smoking; drinking too much alcohol; being physically inactive; being socially isolated; and depression.
Early signs and symptoms of dementia are forgetting things or recent events; losing or misplacing things; getting lost when walking or driving; being confused, even in familiar places; losing track of time; difficulties solving problems or making decisions; problems following conversations or trouble finding words; difficulties performing familiar tasks; misjudging distances to objects visually.
Common changes in mood and behavior include feeling anxious, sad, or angry about memory loss; personality changes; inappropriate behavior; withdrawal from work or social activities; and being less interested in other people’s emotions.
A recent study by Anlacan et al has identified major gaps and challenges in dementia care in the country in terms of limited published local data, high healthcare costs, inadequate health financing, and limited manpower. Published in the Journal of Alzheimer’s Disease in February, “Current Status and Challenges in Dementia Care in the Philippines: A Scoping Review” looked at the available literature from the earliest indexed record until June 2022 in six international and two local databases, as well as government and non-government websites.
The study found that while there is a high prevalence of dementia in the country, local research output on dementia has remained low. It cited an earlier scoping review which revealed that only 11 out of 1,006 (1.1%) published articles on dementia in Southeast Asia were from the Philippines, comprising only eight of the 687 (1.2%) publications found in journals.
The study found that cost is a major barrier, as healthcare coverage is limited. Patients and their families rely mainly on out-of-pocket payments, leading to challenges in the proper diagnosis and treatment of dementia. Moreover, the country needs more neurologists, psychiatrists, and geriatricians who are specialists in the diagnosis and management of dementia.
The study found that the majority of caregivers taking care of older adult Filipinos have never received formal training on dementia care. It acknowledged the efforts of government organizations and specialty medical societies that conduct caregiver training programs for both family caregivers and rural health workers on basic dementia care. This includes the Technical Education and Skills Development Authority (TESDA) caregiving training program which has provision of care and support to older adults as one of its core competencies.
The study authors recommended a multi-pronged approach to bridge the gaps in dementia care in the country. There are needs to enhance research on nationwide dementia epidemiology; improve government financial support spanning the different levels of dementia care; broaden access to dementia diagnostics and medications; and increase the number of dedicated manpower for dementia diagnosis and management.
“Acknowledging these gaps and challenges is a good initial step in developing plans and health policies to improve the quality of life of Filipinos living with dementia but eventually, a national dementia plan will be necessary for systematic and cost-effective delivery of care,” the study authors concluded.
The journey toward new treatments for Alzheimer’s disease is a powerful example of the role innovation plays in science. Despite a 99% failure rate in clinical trials, each setback has provided valuable insights, paving the way for significant breakthroughs. Recent advancements in treatments offer hope by potentially slowing disease progression, moving beyond mere symptom management. These successes are a testament to decades of persistent research and dedication.
By fostering a supportive environment for innovation and providing incentives for ongoing research, we can drive transformative change and make a substantial impact in the fight against dementia.
Teodoro B. Padilla is the executive director of Pharmaceutical and Healthcare Association of the Philippines or PHAP, which 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.
PHILIPPINE banks continued to fall short of the mandated quota for small business loans in the first half, data from the central bank showed.
Loans extended by the banking industry to micro, small and medium-sized enterprises (MSME) had reached P488.13 billion as of end-June, accounting for only 4.52% of their total loan portfolio of P10.8 trillion, well-below the required 10% quota.
Banks must allot 10% of their loan portfolio for small businesses under the Magna Carta for MSMEs.
Under the law, 8% must go to micro and small enterprises, while 2% must go to medium-sized businesses.
As of end-June, lending to micro and small enterprises stood at P196.834 billion, equivalent to 1.82% of their total loan portfolio and well below the 8% quota.
Loans for medium enterprises hit P291.296 billion, accounting for 2.7% of their total credits and exceeding the 2% quota.
Universal and commercial banks released P134.095 billion in loans to micro and small enterprises in the first semester, or 1.35% of their total loans.
Big banks’ loans to medium enterprises stood at P235.814 billion, or 2.38% of their total lending.
Thrift banks extended loans worth P24.604 billion to micro and small enterprises or 3.74% of their portfolio, while their loans to medium enterprises hit P35.532 billion, equivalent to 5.39% of their total lending.
Meanwhile, rural and cooperative banks exceeded the quota for lending to MSMEs. They extended loans to micro and small enterprises worth P37.884 billion, equivalent to 17.61%.
They also released loans to medium enterprises worth P19.923 billion or 9.26%.
Loans granted by digital banks to the micro and small enterprise sector stood at P250 million in the first half, accounting for 1.41% of their total credits.
They disbursed P30 million to medium enterprises, equivalent to 0.16% of their portfolio.
During the coronavirus pandemic, the Bangko Sentral ng Pilipinas (BSP) allowed banks to count MSME loans as alternative reserve compliance with the reserve requirements to help support the sector.
The relief measure expired on June 30, 2023. However, it was extended to thrift banks and rural and cooperative banks until Dec. 31, 2025. — Luisa Maria Jacinta C. Jocson
AYALA Corp. was among the most actively traded stocks last week amid the approval of its planned follow-on offering (FOO) by the market operator, following a treasury share sale and market sentiment from the US central bank interest rate cut.
Ayala Corp. was the seventh most actively traded stock last week, with a total of 2.58 million shares worth P1.8 billion having exchanged hands from Sept. 23 to 27, according to data from the Philippine Stock Exchange (PSE).
Its shares closed at P692 apiece on Friday, up 0.3% week on week. Since the start of the year, the stock increased by 1.6% from P681 per share.
“Ayala Corp. became one of the most actively traded stocks this week due to its high-profile financial activities and strategic announcements. The company disclosed its plans to raise P15 billion through an FOO shortly after it successfully generated P2.21 billion from a treasury share sale,” Toby Allan C. Arce, head of Sales Trading at Globalinks Securities and Stocks, Inc., said in an e-mail.
Mr. Arce added that the disclosure created significant interest in the market, as investors sought to capitalize on Ayala Corp.’s plans to bolster its capital and to be used for expansion and other corporate activities.
“These developments were seen as a sign of Ayala’s strategic financial management, driving up its liquidity and making it one of the week’s top-traded stocks,” added Mr. Arce.
Last week, the PSE approved Ayala Corp.’s application for the reissuance from treasury of up to 7.5 million Class B preferred shares to cover the planned FOO.
The conglomerate foresees having P14.89 billion in net proceeds if the oversubscription is fully exercised, which will be utilized for the redemption of the P15-billion Class B preferred shares callable on Nov. 29.
The FOO consists of a base offer of up to five million shares or P10 billion, with an oversubscription option for 2.5 million shares or P5 billion, both priced at P2,000 per share, based on Ayala Corp.’s prospectus dated Sept. 25.
Ayala’s consolidated revenues rose by 8.7% to P92.67 billion in the second quarter, bringing its top line in the first half to P179.44 billion, growing by 9.6%.
The conglomerate’s attributable income in the April-to-June quarter rose by 12.5% to P9.21 billion from P8.19 billion in the same period last year.
In the first semester, net income attributable to the owners of the parent company inched up by 21.1% to P22.29 billion from P18.41 billion a year ago.
Mr. Arce said that the company is poised to perform relatively well, especially if the proceeds from the FOO are deployed effectively toward growth opportunities.
“Given its strong portfolio in infrastructure, real estate, and other sectors, the Philippine conglomerate could continue to post solid revenues, especially with signs of recovery in various industries post-pandemic. However, external economic factors such as inflation and interest rates may temper this growth, making the outlook moderately positive but still subject to external risks,” added Mr. Arce.
He projected the full-year 2024 net income to reach P45.9 billion.
“Overall market sentiment lifted Ayala Corp. as the United States Federal Reserve (US Fed) started cutting interest rates. This is bullish news for the PSE Index, lifting all sectors, especially the financial and property sectors,” Mercantile Securities Corp. Head Trader Jeff Radley C. See said in a Viber message.
“Investors will likely see capital raising due to the strong performance of the market,” Mr. See added.
Headline inflation averaged 3.6% in the first eight months of the year, slower than the 6.6% recorded in the same period last year.
Inflation data for September will be released on Oct. 4 by the Philippine Statistics Authority.
The Monetary Board cut rates by 25 bps, bringing the benchmark rate to 6.25% from the over 17-year high of 6.5%.
In a Reuters report, the US Fed cut its policy rate to the 4.75%-5% range, delivering a bigger-than-usual half-of-a-percentage-point cut. In addition to approving the half-percentage-point cut, Fed policy makers projected the benchmark interest rate would fall by another half of a percentage point by the end of this year, a full percentage point next year, and half of a percentage point in 2026, though they cautioned that the outlook that far into the future is necessarily uncertain.
Looking forward, Mr. Arce said that the stock’s performance could see fluctuations depending on investor response to its capital-raising initiatives and broader market trends.
“In the short term, a range-bound movement is anticipated unless there’s a significant macroeconomic development or news event that influences market sentiment,” Mr. Arce added.
Mr. Arce pegged Ayala Corp.’s stock at an immediate support of around P656 per share and resistance of P735 per share.
Mr. See expects Ayala Corp.’s stock to move sideways to down as investors will experience profit taking in the short term.
He gave support levels at P660 apiece and P630 apiece, while the resistance level is at P720. — Lourdes O. Pilar
CHICAGO/WASHINGTON — Nearly 200 agriculture organizations urged the White House to address key US agricultural supply chain issues in the face of a potential port strike on the East and Gulf Coasts that could begin Tuesday.
The groups said the industry is facing “imminent and severe shipping disruptions” from a potential work stoppage, snarled rail lines and historically low river levels backing up grain barge shipments and impacting trade with Mexico, according to a letter reviewed by Reuters.
The groups asked the federal government to direct the US Army Corps of Engineers to dredge the lower Mississippi River to maintain 12-foot-deep channels, and step in to reopen the movement of grain by rail from the US to Mexico.
They also asked the Transportation department to consider issuing an emergency hours of service waiver for truck drivers at East and Gulf Coast ports.
The letter, from a wide cross-section of the nation’s food and farm supply chain, said such disruptions are already happening ahead of a potential Oct. 1 strike at ports that handle roughly half of the country’s ocean trade, including consumer staples like coffee, meat and eggs.
On Thursday, employers negotiating a labor contract at East and Gulf Coast ports filed an unfair labor practice complaint against the union, saying those leaders refuse to resume talks ahead of the threatened strike.
The US Maritime Alliance (USMX) said it filed the complaint with the National Labor Relations Board, due to the repeated refusal of the International Longshoremen’s Association (ILA) to return to the bargaining table.
The six-year master contract between USMX and the ILA expires Monday and the two sides appear to be deadlocked on wage issues.
Friday’s missive underscores the growing worry among the nation’s agricultural sector. US farmers are beginning to harvest what is expected to be a record soy and large corn crop, at a time when global supplies are already hefty and prices are hovering near four-year lows.
The letter also comes just two days after some of the same organizations asked the Biden Administration to take action to avert the potential labor strike, in order to prevent damage to US agriculture and the economy.
“These disruptions will have a ripple effect across the entire United States” unless the government takes action, the letter said.
The White House did not immediately comment.
Meanwhile, low water conditions on interior rivers have led to barges running aground along a key stretch of the lower Mississippi River and forcing barges to carry lighter loads, just as the busiest US grain export season gets underway. — Reuters
By Kap Maceda Aguila
THERE’S GOOD reason the BAIC B30e Dune was unveiled in a highly visible, public manner. It’s expected to be BAIC Philippines’ volume seller — the entry point to its stable of SUVs positioned as capable off-roaders. The BAIC B30e Dune is priced at P1.588 million for the 4×2 variant and P1.888 million for the 4×4.
After the public reveal of the BAIC B30e Dune at the Main Atrium of SM Mall of Asia, members of the press, including this writer, spoke to two United Automotive Asia Group, Inc. (UAAGI) executives about the vehicle. Here are excerpts.
What do we need to know about the BAIC B30e Dune?
LYN BUENA: Well I think, first and foremost, this is a vehicle that exudes two things, beauty and ruggedness. In addition, it is also very, very capable. It’s something that you could take onto rough terrain, and it’s something that you could sport around the city. And to top all that, it has a hybrid engine, so there’s a lot of fuel efficiency.
CHRIS YU: It is a hybrid off-road SUV, which is very distinct for our market. It’s powered by a dual electric motor powertrain and supported by a gasoline generator — one of the few cars with both a front axle electric motor and a rear axle motor. The front motor has 130kW and the rear axle has 55kW. It’s also supported by a gasoline generator. And when you are in full acceleration mode, all three motors, both electric motors and the gasoline engine, work together to propel the car forward with 403hp and 685Nm of torque which is, I think, is class-leading for this particular segment. So we’re very happy about that.
LYN BUENA: Customers who will buy the BAIC B30e Dune, as with our other vehicles, will get a five-year bumper-to-bumper warranty, and they also have access to 24/7 roadside assistance and a 24/7 hotline.
This will be competing in a segment with many established players. What do you think are the standout qualities in the BAIC B30e that will allow it to carve out its niche?
LYN BUENA: Well, I think this car is going to be a game-changer for that segment. As you said, it’s very competitive, but we feel that we have something that exudes both power and capability. Of course, aside from the hybrid engine which will make coding-exempt, it has good looks as well. We feel it has an edge in the market because it’s also competitively priced and it’s chock full of features. It also has a lot of cargo space.
We’re familiar with the traditional hybrids where the internal combustion engine is the default mover, which then is supplemented by an electric motor. In the case of the Nissan Kicks e-Power, it’s the other way around. What’s the case in the BAIC B30e Dune?
CHRIS YU: The BAIC B30e Dune actually combines the best of all worlds — all hybrid worlds. It’s able to run on pure EV mode at both city speeds and highway speeds, whereas other cars limit the EV mode to only city speeds. The B30e can go up to 90kph in pure EV mode with the engine not running; it will only turn on when charging the battery. It will also turn on when you go at cruising speed more than 90kph, over long periods of time. At that speed, the gasoline engine is actually more efficient than the electric motors.
(In effect), it combines the traditional hybrid powertrain, where the electric motors support the engine… and more modern technology, where the electric motors are the primary propulsion, and then the engines there to support electric motors. In Launch Mode, which is where you step on the brake and gas pedals together, and you let go of the brake, it uses all three power systems to push the car forward.
What’s the difference between the 4×2 and 4×4 variants?
CHRIS YU: The have a very similar setup as the same gasoline generator. The only difference is that the 4×2 only has one electric motor which is in the front axle, while the 4×4 has two electric motors, one in the front and one in the rear… It’s all-wheel drive so it shifts power, depending on the need.
Do you see a lot of demand for hybrids?
LYN BUENA: Yes, there is a growing demand for something that will be capable — something that will also deliver fuel efficiency.
THIS YEAR’s Red Charity Gala has Lulu Tan-Gan as the featured designer. The gala will be held at Shangri-La The Fort, Bonifacio City, on Oct. 22. Launched in 2009 by Tessa Prieto and Kaye Tinga, the Red Charity Gala was organized for the benefit of the Assumption HS 81 Foundation, Hope for Lupus Foundation and the Philippine Red Cross. For more than a decade, the gala has been a platform for many renowned local fashion designers to exhibit their best collections. These include Dennis Lustico, Furne One, Michael Cinco, Cary Santiago, Ezra Santos, Jojie Lloren, Lesley Mobo, Chito Vijandre, Joey Samson, Rajo Laurel, and Ivarluski Aseron. Now on its 13th year, it will put the spotlight this time on Lulu Tan-Gan, the country’s Queen of Knits. For this year’s gala, the prolific designer will showcase her latest collection named “Crafting Fashion,” exhibiting her expertise in the use of piña while combining her penchant for ethnic prints and patterns to promote materials and designs from the diverse heritage of Luzon, Visayas, and Mindanao. Ms. Tan-Gan is also known for promoting Filipino fashion abroad, particularly in France. From 1992 to 2005 she organized the participation of Philippine entries to the Concours International Des Jeunes Createurs de Mode. From 2012 to 2013, she became one of the members of the Board of Alliance Francaise de Manille where she actively collaborated with French and Filipino artists for design activities, shows, and events. In July 2003, she was awarded the Chevalier D’Arts et Lettres (Order of the Arts and Letters) by the French Minister of Culture and Communication, recognizing her significant contributions to the arts, literature, or the propagation of these fields. For inquiries on the gala, contact Maggie Gineta at 0917-832-5570 and follow Red Charity Gala on Instagram (@redcharitygala).
THE iconic American brand is taking it back to 1994 with a Limited-Edition Product Drop, Campaign, and 1990s Throwback Party. Old Navy is one of North America’s largest apparel brands, with more than 1,200 company-owned and franchise stores. “To mark our 30th year, we’re celebrating our heritage while creating new history and reasserting our place in culture,” said Haio Barbeito, CEO of Old Navy, in a press statement. “At Old Navy, it’s not just about the fashion, but the joy we experience in it,” said Zac Posen, Chief Creative Officer, Old Navy, in a same statement. “If we look back at the ’90s, it was a moment of moving from possibilities to reality, the juxtaposition of pop culture meeting indie culture, meeting hip hop. It was a time that allowed people to express themselves and their self-identity — and that’s what the team has re-created with the ’94 Reissue collection. Come play and reimagine style with us.” The limited edition collection modernizes Old Navy’s ’90s designs: from baby tees, baggy jeans, and cargos, to matching tracksuits, and bucket hats. The collection, which launches on Oct. 4, offers nearly 200 styles for the entire family (across men’s, women’s, kids, toddler, and baby categories) and will be available in Old Navy One Ayala, Bonifacio High Street, and on oldnavy.com.ph.
HOKA organized a Speed Camp, bringing together members of the HOKA Running Club and participants from the HOKA Trilogy. The event included targeted lectures, drills, and exercises designed to improve form and enhance overall running efficiency. Leading the camp was athlete and coach Emerson Obiena, who emphasized the importance of sprint drills and proper technique in boosting speed. “Sprint drills can significantly improve a runner’s time. For a lot of these runners, understanding the importance of proper execution was a game-changer,” explained Mr. Obiena. The camp also gave participants the chance to experience HOKA’s Mach X 2, the latest iteration of HOKA’s propulsive plated daily trainer, which builds on the fast and smooth ride of the original Mach X but in a lighter package. Drawing inspiration from the race-ready geometry of HOKA’s Cielo X1, the Mach X 2 features an extra-resilient PEBA-topped midsole and an enhanced rocker profile for a more aggressive toe-off. Its extended Pebax plate provides added support and propulsion. The Mach X 2, is now available for purchase at HOKA stores in One Ayala Mall, GH Mall, SM Aura, and Ayala Malls Manila Bay, as well as Planet Sports Asia Trinoma, Planet Sports Galleria Cebu, Planet Sports Clark City Front Mall, Runnr BGC, Planet Sports Ayala Center Cebu, and online at HOKA.com.
DECATHLON has opened its 12th store in the Philippines following its latest one-stop concept, Decathlon Binondo Connect. “Decathlon Philippines’ Binondo Connect opening represents a great opportunity for Decathlon to be close to our customers, and links to our goal of being everywhere we can be accessible for sport lovers everywhere,” Benoit Gauthier, regional manager of Decathlon Philippines was quoted as saying in a press release. “Adding a new Connect store in this multicultural area makes so much sense for us in terms of accessibility: we are, indeed, following our purpose to move the people though the wonders of the sport. This place will help us not only in our growth strategy in the country, but also to spread the passion for sports through the passion of our teammates while providing our customers convenient means for them to experience great-value, quality, and innovative sports products through our stores.” Decathlon customers can sign up for their membership program where they can earn points, redeem points for vouchers, while enjoying up to two-years warranties and 365-day refunds and exchange on most items. Members also get access to Decathlon playgrounds in flagship stores, invitations to sports events, and more member-only promos and exclusives in stores or when shopping on the Decathlon app. Decathlon Binondo Connect is at Level 2, Lucky Chinatown, Reina Regente St., Binondo, Manila City, Metro Manila. Customers can also shop online at www.decathlon.ph.
House prices in the Philippines grew to 2.7% in the April-to-June period, the central bank’s latest Residential Real Estate Price Index (RREPI) data showed. In the second quarter, RREPI at the national level for all housing units was the slowest in eight quarters since the 2.6% recorded in the second quarter of 2022.
Here’s a quick glance at how PSEi stocks fared on Friday, September 27, 2024.
