Entertainment News (03/25/25)

March 25, 2025 | 12:07 am

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Mariah Carey to perform in Manila in October

THE best-selling female artist of all time, Mariah Carey, is bringing her The Celebration of Mimi tour to Manila on Oct. 14 at the SM Mall of Asia Arena in Pasay City. Presented by Wilbros Live, the concert’s ticket details will be announced soon. They will be available via SMTickets.com and SM Tickets outlets nationwide. Ms. Carey, who has sold more than 200 million albums to-date, will perform her greatest hits at the concert.

Eraserheads docu gets extended run

DUE to public demand, the music documentary Eraserheads: Combo On The Run is extending its run in the cinemas for another week. It was originally to have a limited run from March 21 to 23. The film charts the journey of the iconic Filipino band Eraserheads, from their rise in popularity to their breakup and later attempts to reunite. “The positive response and support have been overwhelming and humbling. I hope more people get to see the film. This is not just a music story; it’s our story,” said director Maria Diane Ventura, on the extended run of the documentary, in a press statement.

Tiara Shaye, Fana win 2025 PhilPop Himig Handog

TIARA SHAYE AND FANA took home the Grand Champion title at the PhilPop Himig Handog Songwriting Festival, held at the New Frontier Theater in Quezon City on March 23. Their winning entry, “Wag Paglaruan,” was chosen as the best song among the 12 finalists. It was composed by Ms. Shaye and sung by both her and Fana. The competition also recognized the Cebuano track “Buhi,” composed by Keith John Quito and interpreted by Ferdinand Aragon, as the first runner-up. The emotional ballad “Papahiram,” written by Rinz Ruiz and performed by singer-songwriters Moira and Johnoy Danao, was second runner-up. The winner of both the Smart People’s Choice Award and the MYX Choice Award for Best Music Video was “Kurba,” composed by Sunkissed Lola’s Alvin Serito and interpreted by popstar Maki. The songs are now available on all digital streaming platforms worldwide.

Ame takes on ’60s rock in new single

THE three-piece band Ame is putting a contemporary twist on ’60s rock with their new single, “Ipagpatawad Mo,” released via Evosound Philippines. The track blends blues-infused guitar riffs and rhythms with modern energy. It is produced by Max Cinco and Paulo Agudelo, with Sam Marquez mixing and mastering. To celebrate the track, which is the first from an upcoming album, Ame is set to perform live at the second floor of Kowloon House in Matalino St., Quezon City on April 12. Ame’s “Ipagpatawad Mo” is now streaming on all digital music platforms worldwide.

Matsuri Japanese festival to take place in May

DUBBED the biggest Japanese festival in Manila, the Matsuri festival will have over 150 booths in Manila’s Rizal Park, with live music, cosplay, pop culture, and food. The event will happen on May 10 and 11, from noon to 11 p.m. Performers include James Reid, Maki Otsuki, LILY, FuMi, SKYGARDEN, Fairy Tales!, Tokyo Otome Daiko, Enishi, GONZO, Wannabes, Muramura Tamura, Yuki Horikoshi, HIDE, and Israel Buenaobra. Tickets are now available via the website: https://fest.matsuri.top/

Cinemalaya 2025 calls for short film entries

THE Cultural Center of the Philippines and the Cinemalaya Foundation Inc. are accepting submissions to the Short Film Category of the Cinemalaya Philippine Independent Film Festival 2025. The deadline for the submission of films is on or before May 16, until 6 p.m. It is open to all Filipino filmmakers. Entries must have been produced between March 8, 2024 and May 16, 2025. For online applications, all requirements must be submitted through the link: https://forms.gle/NbgnaybpZ7jMvQ9W9. The Cinemalaya Selection Committee will shortlist 10 finalists which will be screened at the 2025 Cinemalaya Film Festival on Oct. 3 to 12.

KREY returns with comeback single

AFTER a two-year hiatus, 24-year-old singer-songwriter KREY has returned to the music scene with a new single “Meet Again.” Under Diorama FM, a music label dedicated to cultivating talent with a distinct sound and strong creative identity, she blends indie and pop with her unique Bisaya perspective as a Davao City-based artist. “Meet Again” is now available on all major streaming platforms.

Dancel, Zild, Benin, Mayonnaise share a stage

INDEPENDENT events production company Minsan Studio will debut its own music festival, the Minsan Fest, on May 17 at the Quezon City Memorial Circle. The festival, which kicks off at 2 p.m., is designed to be accessible for students and young fans — the ticket price is much lower for the youth. Its lineup is composed of The Itchyworms, Mayonnaise, Ebe Dancel, Zild, Autotelic, Reese Lansangan, Clara Benin, Autotelic, TONEEJAY, SUD, thesunmanager, and Minaw. The “minsan pass,” an eco-friendly digital pass available in the form of a lanyard or bag tag, is priced at P349 for attendees aged 24 and below. Regular tickets cost P699.

David Archuleta releases new single

SINGER-SONGWRITER David Archuleta returns with new music. The pop single “Crème Brulée” is the first single off of the singer’s upcoming EP release. Co-written with Ryan Nealon and Robyn Dell’Unto and produced by Michael Blum, Mr. Archuleta marks a new era of playful flirty pop as he sings in both English and Spanish on the track. “All this time I’ve been singing Spanish covers, but I’ve never had that Spanish flair in my own pop music. I wanted to get in touch with my Latin roots, have fun, be flirty, and explore the sensual side of David,” he said in a statement. The song is out now on all streaming platforms.

JFC taps global banks for US dollar bond issuance

March 25, 2025 | 12:06 am

JOLLIBEE FOODS Corp. (JFC) plans to issue US dollar-denominated bonds to raise funds for its growth plans and debt reduction.

In a stock exchange filing on Monday, JFC, through its wholly owned subsidiary Jollibee Worldwide Pte. Ltd., appointed J.P. Morgan Securities Asia Pte. Ltd. and Morgan Stanley Asia Pte. as joint global coordinators and bookrunners for the planned issuance.

JFC also engaged BPI Capital Corp. and Hongkong and Shanghai Banking Corp. Ltd. (HSBC) Singapore branch as joint lead managers and bookrunners.

“Proceeds from the contemplated offering are intended for the issuer’s general corporate purposes and/or refinancing of its existing borrowings,” JFC said.

These institutions will arrange a series of fixed-income investor meetings on March 24 for JFC’s Regulation S five-year US dollar-denominated senior unsecured guaranteed notes issuance, subject to market conditions.

A Regulation S issuance refers to securities offered outside the United States that are not registered under the US Securities Act or any US state securities laws, the company said.

For 2024, JFC earmarked P18 billion to P21 billion for capital expenditures to support its target of opening up to 800 new stores worldwide.

As of end-September 2023, JFC expanded its store network by 42.8% to 9,598 locations, comprising 3,340 stores in the Philippines and 6,258 overseas.

JFC operates 568 stores in China, 381 in North America, and 362 across Europe, the Middle East, Africa, and Asia. It also has 815 under Highlands Coffee, 1,219 under The Coffee Bean & Tea Leaf, 333 under Milksha, and 2,580 under Compose Coffee.

At the stock exchange on Monday, JFC shares gained P2, or 0.84%, closing at P240 apiece. — Ashley Erika O. Jose

Conan O’Brien decries ‘bullies’ while receiving Kennedy Center’s Mark Twain Prize

March 25, 2025 | 12:06 am

WASHINGTON — Conan O’Brien accepted the Mark Twain Prize for American Humor on Sunday with a not-so-subtle broadside against President Donald J. Trump, whose takeover of the Kennedy Center, which awarded the prize, has shaken the art world.

A host of comedians including David Letterman, Adam Sandler, Sarah Silverman, and Stephen Colbert celebrated Mr. O’Brien for comic greatness while ribbing the Trump administration and putting a spotlight on the renowned arts facility that is now overseen by Trump allies.

But it was Mr. O’Brien, the longtime late-night television host and comedy writer, who aimed his comments most directly at the Republican president without using his name.

“Twain hated bullies,” Mr. O’Brien said. “He punched up, not down. And he deeply, deeply empathized with the weak.”

Mr. O’Brien described the award’s namesake as “allergic to hypocrisy” and suspicious of populism and imperialism. “He loved America but knew it was deeply flawed,” Mr. O’Brien said.

Mr. Trump, who came into office in January, has spent the last two months implementing much of the populist agenda that helped him get elected last year while advocating for US annexation of Canada and Greenland, firing federal workers, and deporting migrants who were in the United States illegally.

The show was the first signature event at the Kennedy Center since Mr. Trump announced he would become chairman of the institution, pushing out billionaire philanthropist David Rubenstein.

Mr. Trump dismissed board members appointed by former President Joe Biden and installed officials loyal to him. He handed leadership reins for the facility to Richard Grenell, a close ally and former ambassador to Germany who is serving as envoy for special missions in Mr. Trump’s current administration.

The new board, which includes White House Chief of Staff Susie Wiles and Usha Vance, wife of Vice-President JD Vance, fired its former president, Deborah Rutter. Mr. Trump visited the center last week and declared it in “tremendous disrepair.”

Mr. O’Brien thanked Mr.Rubenstein and Ms. Rutter in his remarks, drawing loud applause from the audience.

“When he accepted the Mark Twain Prize, this was a very different place,” Mr. Colbert said from the Kennedy Center stage. “Today they announced two board members: Bashar al-Assad and Skeletor,” Mr. Colbert quipped, referring to the former president of Syria and a cartoon villain.

COMEDY GIANT
Other comedians joked that this would be the last Mark Twain Prize awarded by the Center. John Mulaney cracked that the facility, which is seen as a memorial to slain former President John F. Kennedy, would be renamed after Roy Cohn, a political fixer known for his role in Senator Joseph McCarthy’s anti-communist scare campaigns of the 1950s, and a lawyer for Mr. Trump in his early years in business.

Along with the annual Kennedy Center Honors in December, the Mark Twain Prize is one of the premier events at the renowned arts institution. Mr. Trump did not attend the event on Sunday and did not attend any of the Honors performances during his first term.

Mr. O’Brien hosted the Oscars earlier this month and is slated to come back in the emcee role next year. He was the host of Late Night with Conan O’Brien and The Tonight Show with Conan O’Brien on NBC and Conan on TBS. He is a former writer for Saturday Night Live.

“You are a genius, my friend,” comedian and actor Will Ferrell said from the stage. “You’re an absolute giant in the world of comedy,” said actor and comedian Tracy Morgan.

Mr. O’Brien told reporters before the show that he wanted to go through with the event to support Kennedy Center workers. “Our country has been through many different sea changes, and my thought is I will be here specifically to honor Mark Twain and the people that this award stands for,” he said.

Previous winners of the Mark Twain Prize include Kevin Hart, Mr. Sandler, Jon Stewart, Julia Louis-Dreyfus, and Carol Burnett.

Sunday’s show will be available for viewing on Netflix on May 4. — Reuters

Tom Cruise, Superman, and Avatar hold keys to 2025 box office

March 25, 2025 | 12:05 am

LOS ANGELES — Tom Cruise takes on what may be his final Mission: Impossible, a new Superman will wear the red cape, and the record-setting Avatar sci-fi series will return to movie theaters this year.

Those films and more are giving cinema operators hope that the long recovery from the COVID-19 pandemic will continue in 2025. Five years after the start of the health crisis, moviegoing has not fully rebounded.

Box office receipts totaled $8.6 billion last year in the United States and Canada, 25% below the pre-pandemic heights of $11.4 billion in 2019.

The film industry was disrupted again in 2023 when Hollywood writers and actors went on strike.

“That complex matrix of filmmaking, where everyone wants the best talent and the best actors and the best sets, it takes a long time to get that running again,” said Tim Richards, founder and chief executive officer of Europe’s Vue Cinemas. “2025 is going to feel the tail end of that.”

Top names in the movie business will gather at the annual CinemaCon convention in Las Vegas early next month to talk about the state of the industry.

The conference draws executives from Hollywood studios and multiplex operators such as AMC Entertainment, Cinemark, and Cineworld, as well as owners of single theaters in small towns.

At the Academy Awards this month, Anora filmmaker and best director winner Sean Baker delivered a “battle cry” for filmmakers, distributors and audiences to support theaters.

“The theater-going experience is under threat,” he said, noting that the number of screens shrunk during the pandemic.

“If we don’t reverse this trend, we’ll be losing a vital part of our culture,” Mr. Baker added.

Shawn Robbins, director of movie analytics at Fandango and founder and owner of Box Office Theory, said the movie business was adjusting to “a new normal.”

“Event movies are increasingly drivers of the business,” Mr. Robbins said. “There’s even more weight on their shoulders in terms of box office dollars.”

Moviegoers still turn out for big-budget films, Mr. Robbins said, but have shown they are happy to wait to watch others at home.

“It is very common knowledge that a lot of movies will be available to stream within three to eight weeks, whereas it used to be a minimum of three months,” he said.

AVATAR AS TIPPING POINT?
Among the big hitters coming to theaters this year are Mission: Impossible – The Final Reckoning, a movie that may be Cruise’s last appearance in the long-running action franchise. “One last time,” he says in the trailer. The film will debut over the US Memorial Day weekend in May, along with Walt Disney’s live-action version of animated classic Lilo & Stitch.

Brad Pitt plays a Formula 1 driver in the June release F1, and in July, Warner Bros. will release its new Superman movie directed by Guardians of the Galaxy filmmaker James Gunn and starring David Corenswet.

From Marvel, the anti-hero team Thunderbolts will kick off the summer moviegoing season in early May, followed by The Fantastic Four in late July.

Around the November and December holidays, offerings include the second part of musical box office phenomenon Wicked, animated sequel Zootopia 2, and Avatar: Fire and Ash, the third film in James Cameron’s Avatar series. The first Avatar is the highest-grossing movie of all time, and the second movie ranks third.

Mr. Robbins projected 2025 would end with a slight increase in domestic box office receipts compared with last year, “maybe flirting with $9 billion.” He said it is unclear when ticket sales will return to pre-pandemic levels.

Mr. Richards said he believed the new Avatar would kick off “an extraordinary three to five years” for cinemas.

“We’re going to see (Avatar) as the tipping point,” Mr. Richards said. “2026 has got an extraordinary number of great films.” — Reuters

AI adoption key to customer engagement, says Twilio

March 25, 2025 | 12:05 am

By Beatriz Marie D. Cruz, Reporter

PHILIPPINE businesses must adopt artificial intelligence (AI) tools to meet consumer demand for personalized experiences, said American cloud communications company Twilio.

“I would argue that, in Asia as a whole — including the Philippines — you’re seeing a higher level of sophistication among consumers,” Nicholas Kontopoulos, vice-president of marketing, Asia-Pacific & Japan at Twilio, said in an interview with BusinessWorld.

“[This is evident] both in their knowledge of how to use the tools available to them to get the best deals possible, compare services, and gain insights into which brands are serving their customers well,” he said.

Twilio helps companies build a platform for communication features such as messaging, calls, and customer support. It specializes in application programming interface (API), allowing businesses to seamlessly integrate Twilio’s services into their respective applications.

Other customer engagement solutions the company specializes in include user authentication and identity verification, voice APIs, and short message service (SMS) marketing.

Twilio serves over 325,000 global enterprises, including major firms like Uber, IBM, Dell, and HubSpot. In the Philippines, Twilio covers business-to-business and business-to-client brands across industries such as financial services, retail, and airlines.

About 57% of Philippine consumers said they are likely to spend money on brands that personalize their services, according to Twilio’s 2024 State of Customer Engagement Report.

Mr. Kontopoulos noted that companies’ data silos — or isolated data across departments or units — hamper their ability to leverage customer engagement.

To address this, the Twilio Segment customer data platform (CDP) helps developers collect and unify customer data. It provides insights across a firm’s marketing, sales, and customer service teams to ensure data-driven customer engagement.

The company is banking on its CDP to expand its reach in the Philippines, particularly in industries such as retail and financial services, amid the increasing demand for personalized customer engagement.

Likewise, the company’s ConversationRelay enables businesses to create robust natural-voice AI agents for customer inquiries. It seamlessly integrates real-time streaming, speech recognition, and interruption handling.

“Where I really get excited about AI is how it also will support individual employees in performing their roles more effectively,” he said, adding that AI can increase companies’ productivity by 20-30%.

CONSUMER TRUST
Despite this, Twilio seeks to ensure that its products are designed to secure customer data, the company said.

“People think about customer experience always at the front end, but security is a great opportunity to deliver and really solidify customer experience and trust,” he said.

It maintains a risk-based assessment security program based on the ISO/IEC 27001 information security management system (ISMS), according to its website. This includes administrative, technical, organizational, and physical safeguards reasonably designed to protect its services and the security, confidentiality, integrity, and availability of customer data.

The company also conducts regular external audits and subjects its employees to minimum security measures.

According to Mr. Kontopoulos, trust remains the “bedrock” of the customer experience.

“If I’m sharing my data with you, are you using that data? Are you protecting that data?” he said. “But then it’s also not just about protecting the data. Are you using that data in a way that creates value for me?”

Mr. Kontopoulos also cited the need for brands to be transparent about their AI use, especially in customer interactions.

“I think that’s one of the mistakes that businesses could make — if they don’t inform consumers that they’re dealing with an AI agent, and for whatever reason, their experience doesn’t go the way they hoped, it could create a negative reaction.”

According to Twilio’s latest State of Customer Engagement Report, Filipino consumers cite transparent communication (75%), accessibility and responsive customer service (73%) as the most effective ways brands can build their trust.

Amid firms’ rapid adoption of AI, the Department of Information and Communications Technology has been drafting its own guidelines on the ethical and trustworthy use of AI-related technologies.

Likewise, the Bangko Sentral ng Pilipinas recently said it will issue regulations aimed at mitigating potential risks in the use of AI in the financial sector.

According to Mr. Kontopoulos, brands’ ability to personalize customer engagement through AI will impact their competitiveness.

“If you’re not doing this, you’re going to find yourself quickly falling behind your consumers’ expectations as well as your competitors who are servicing them.”

Film Coco 2 in development at Disney and Pixar studios

March 25, 2025 | 12:04 am

LOS ANGELES — Animation studios Disney and Pixar are developing the film Coco 2, which is slated to release in 2029, Disney’s Chief Executive Officer Bob Iger announced during the company’s annual shareholder meeting on Thursday.

The first Coco film won two Academy Awards for best animated feature and best original song for “Remember Me.” It also won a Golden Globe for best animated motion picture and a BAFTA for best animated film.

The film told the story of Miguel, a 12-year-old with dreams of becoming a musician despite his family’s generations-old ban on music, who ventured to the vibrant Land of the Dead to unlock the real story behind his family history.

Coco 2 will include the same directors of the first Coco film, Oscar-winning director Lee Unkrich and co-director Adrian Molina.

“While the film is just in the initial stages, we know it will be full of humor, heart, and adventure,” Mr. Iger said about the animated sequel film. “And we can’t wait to share more soon.”

The film will be produced by Oscar-winning producer Mark Nielsen, who worked on Toy Story 4 and Inside Out. — Reuters

Vivant’s income up 3% to P2.4B in 2024

March 25, 2025 | 12:04 am

LISTED company Vivant Corp. reported an attributable net income of P2.4 billion for 2024, up 3% from the previous year, driven by growth in its energy business.

“The year 2024 was a record year for Vivant Corp., led by its energy business, which saw double-digit growth in earnings,” Vivant Chief Executive Officer Arlo G. Sarmiento said in a media release on Monday.

“Meanwhile, our business development teams in both energy and water continued to lay the groundwork for the company’s future growth,” he added.

Consolidated core net income rose 20% to P2.3 billion from P1.9 billion in the previous year.

Power generation accounted for the bulk of net income, contributing 64% or P2.2 billion. Earnings from this segment grew 15%, driven by the participation of the company’s power plants in the reserve market and the Wholesale Electricity Spot Market.

Last year, Vivant delivered a total of 4,965 gigawatt-hours of energy to its power generation customers.

The company’s distribution utility business contributed P1.2 billion, while retail electricity accounted for P22.3 million.

Vivant said its water business is “still in its investment phase and is expected to meaningfully contribute in the medium term.”

Consolidated revenues surged 48% to P12.2 billion, driven by higher sales volumes from certain power generation assets, retail electricity supply, and solar rooftop businesses.

Operating expenses climbed 59% to P1.6 billion, primarily due to increased manpower, consultancy service engagements for digital transformation and business expansion initiatives, and higher depreciation from asset acquisitions.

Mr. Sarmiento said Vivant has established a pipeline of projects, including plans for “a more balanced portfolio of conventional and renewable energy projects.”

“In water, we have earmarked investments across the water value chain, centered on desalination and wastewater treatment to address the needs of the communities we serve,” he said.

Vivant Water, the company’s water infrastructure unit, is developing a P2-billion desalination plant in Cordova, Cebu, which is expected to produce up to 20 million liters per day of potable water upon completion this year.

For 2025, the company has allocated a P4.5-billion capital expenditure budget, primarily for renewable energy projects such as solar and wind power developments. It plans to roll out solar power projects with a total capacity of 115 megawatts (MW) and develop a 200-MW wind power project in Samar.

Vivant has investments in various companies engaged in electric power generation and distribution, as well as the retail electricity business. The company has also expanded into the water industry, with a diversified portfolio in bulk water supply, wastewater treatment, and water distribution. — Sheldeen Joy Talavera

BTr upsizes T-bill award even as yields mostly rise on tariff woes

March 25, 2025 | 12:04 am

THE GOVERNMENT upsized the volume of Treasury bills (T-bills) it awarded on Monday amid strong demand, even as rates mostly rose due to concerns over the economic impact of the Trump administration’s tariffs.

The Bureau of the Treasury (BTr) raised P28 billion from the T-bills it auctioned off on Monday, higher than the initial P22-billion plan, as total bids reached P67.88 billion, more than twice as much as the amount on offer but lower than the P118.944 billion in tenders recorded on March 17.

The oversubscription led the BTr to double the accepted non-competitive bids for the 182- and 364-day papers.

Broken down, the Treasury borrowed P7 billion as planned via the 91-day T-bills as tenders for the tenor reached P18.825 billion. The three-month paper was quoted at an average rate of 5.157%, rising by 3.9 basis points (bps) from the 5.118% seen at the previous auction. Tenders accepted by the BTr carried yields of 5.14% to 5.179%.

Meanwhile, the government made a P9.8-billion award of the 182-day securities, above the P7-billion program, as bids for the paper amounted to P19.925 billion. The average rate of the six-month T-bill was at 5.554%, 5.8 bps higher than the 5.496% fetched last week, with accepted rates ranging from 5.488% to 5.599%.

Lastly, the Treasury raised P11.2 billion via the 364-day debt papers, more than the P8 billion placed on the auction block, as demand for the tenor totaled P29.13 billion. The average rate of the one-year debt inched down by 1.6 bps to 5.681% from 5.697% previously, with bids accepted having yields of 5.673% to 5.697%.

At the secondary market before the auction, the 91-, 182-, and 364-day T-bills were quoted at 5.1769%, 5.5258%, and 5.6877%, respectively, based on PHP Bloomberg Valuation Service Reference Rates data provided by the Treasury.

The government increased its award of six-month and one-year T-bills as it took advantage of the strong demand seen for both tenors, a trader said in a text message.

“Yields were steady to a bit higher though, but still below projected path of BSP (Bangko Sentral ng Pilipinas) policy rates,” the trader added.

T-bill rates were mostly higher on Monday as they corrected after declining for the past weeks and amid market worries over US President Donald J. Trump’s plan to impose reciprocal tariffs by next month, which could affect both economic growth and inflation in the world’s largest economy and potentially lead to fewer rate cuts by the Federal Reserve, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

“However, the 364-day T-bill average auction yield was again slightly lower week on week amid the relatively higher total demand…, as the investors could have again anticipated possible local policy rate cuts for the coming months by locking in yields before they go down further,” Mr. Ricafort added.

BSP Governor Eli M. Remolona, Jr. told Bloomberg News last week that the Monetary Board could resume their easing cycle at their April 10 policy meeting following the surprise pause in the February review, especially if March inflation turns out better than expected.

Mr. Remolona added that the BSP could deliver 50 bps in cuts this year, with 75 bps in reductions likely if economic growth weakens further.

The BSP has brought down its policy rate by a cumulative 75 bps to 5.75% since it began its easing cycle in August last year.

Meanwhile, Mr. Trump has vowed to impose a complicated barrage of tariffs next week, the details of which are not clear save that they are to be calculated to reflect the impact of foreign tariffs as well as foreign value-added taxes on imports, Reuters reported.

The International Monetary Fund, which meets next month in Washington for the first time since Mr. Trump’s inauguration, had previously warned of the blow a trade war could deal across the global economy. Economists see a likely recession in Canada and Mexico, which depend mightily on exports to the US and have been particularly targeted by Trump, while shifts in global currency and capital flows and US foreign spending are already creating sets of winners and losers.

In new projections last week, Fed officials said they expect slower growth and higher inflation in the year ahead, with risks tilted to the upside, but perhaps more significantly feel the economic horizon is so obscured that the outlook for monetary policy has become a shrug of the shoulders.

“What would you write down?” when making projections in this environment, Fed Chair Jerome H. Powell said after the Fed held interest rates steady on Wednesday but still projected two quarter-percentage-point cuts by yearend.

That was the same view as in December despite policy makers’ outlook for rising inflation, but Mr. Powell said this round of rate projections involved “frankly, a little bit of inertia” against making any change given “unusually elevated” uncertainty.

“I mean it’s just… really hard to know how this is going to work out,” he said.

That same sort of default setting may have appeared in the Fed’s growth projections, which showed growth slowing roughly to the Fed’s estimated long-run trend of 1.8% and staying there through 2027 — an outcome counter to Mr. Trump’s promise of a “golden age” to make up for the immediate disruption his policies are beginning to cause.

Growth has been steadily above estimates of potential, boosted by a jump in productivity that Fed officials and analysts have cheered even as they caution there’s no guarantee it will continue.

The Fed’s new projections show all that coming back down to earth, with new risks to what had seemed a path for the central bank to return inflation to 2% without paying much of a price in terms of lost growth or jobs.

Monday’s T-bill auction was the last for the month. The BTr raised P111.6 billion from short-term papers in March, higher than the P88-billion plan as it hiked its awards at three auctions.

On Tuesday, the government will offer P35 billion in Treasury bonds, or P10 billion in reissued seven-year debt with a remaining life of three years and 27 days and P25 billion in reissued 25-year bonds with a remaining life of 24 years and 10 months.

The government borrows from local and foreign sources to help fund its budget deficit, which is capped at P1.54 trillion or 5.3% of gross domestic product this year. — A.M.C. Sy with Reuters

South Korea court blocks K-pop group NewJeans from leaving agency

March 25, 2025 | 12:03 am

SEOUL — A South Korean court issued an injunction on Friday to stop members of K-pop group NewJeans from pursuing independent projects, marking the latest twist in a long-running dispute between the stars and their label that has gripped fans.

The Seoul Central District Court upheld a request from the label ADOR to maintain its role managing the group and prohibit NewJeans’ members from engaging in commercial activities without the label’s consent, the court said in a statement.

The five members of NewJeans announced their departure from ADOR last November, revealed a new name — NJZ — and promised to release a new song this month.

Friday’s ruling appears to throw that into doubt and the group said they would challenge the court’s decision.

“NJZ respects the court’s ruling. However, we believe that the decision did not fully take into account the complete breakdown of trust the members have experienced toward ADOR,” they said in an Instagram post.

NewJeans has been caught up in infighting between executives of the agency’s parent and the band’s creative director who has now left ADOR.

The K-pop controversy involving NewJeans made a string of headlines in South Korea and beyond last year, with accusations flying, audits, and an emotional press conference by the band.

The members have said they want to work with the creative director, accusing the firm of mistreatment. ADOR has denied such claims and said the contract remains in effect.

ADOR is a subsidiary of powerhouse label HYBE, home to another global K-pop sensation BTS.

ADOR thanked the court for its “judicious” decision.

“With our status as NewJeans’ exclusive agency now legally affirmed, we are fully committed to supporting the artists going forward,” the company said in a statement, adding that it would be present at the members’ performance on Sunday in Hong Kong. — Reuters

Pru Life UK eyes industry-beating premium income growth this year

March 25, 2025 | 12:03 am

PRU LIFE Insurance Corp. of UK Philippines (Pru Life UK) aims to grow its premiums faster than the industry this year, driven by its agency force expansion.

“We’re also focusing on growing our in-force business by our annual premiums, and our target is to grow faster than industry. We grew 10% in 2024 against the industry’s 7%.” Pru Life UK Executive Vice-President and Chief Financial Officer Francis P. Ortega said at a briefing on Monday. “So, for 2025, we need to sustain our market leadership and so we have to grow faster than our competitors. We’ve been leveraging our very successful agency force. There is still focus on continuing to grow our agency force and also looking for alternative partners that can distribute our products.”

Pru Life UK booked a premium income of P48.15 billion in 2024, ranking second in the life sector, latest data from the Insurance Commission (IC) showed. Its net income stood at P3.72 billion.

The life insurer will also launch new products to help sustain its customers and cushion for risks stemming from market volatility, Mr. Ortega added.

“If there is any downside, it’s similar to what other competitors are facing. We’ve been building on traditional products as well as our variable universal life (VUL) products. Market movements play an important role in sustaining our customers, so we, through our product development, we hope that we are able to at least minimize the risk in terms of market movements,” he said. “We’re planning to come up with a couple of innovative products to address the needs of our customers.”

Last year, the company launched three traditional life policies, which brought the share of traditional products in its new business to 6%.

Mr. Ortega said Pru Life UK’s environmental, social and governance targets also include its takaful products.

The company hopes to launch its first takaful life insurance product soon, Pru Life UK President and Chief Executive Officer Sanjay Chakrabarty said at the same briefing. “I would not give a specific date because we are still waiting for the product to be specifically approved by the Insurance Commission. But my understanding is we’re very very close. I do think sometime in April we should be able to roll out the product itself.”

Mr. Ortega added that their first takaful product would likely be an individual policy.

“What we are working on is an individual life product for the household clients. That will be our initial focus and we’re bringing down the minimum payment to a micro level, so it might be considered as microinsurance,” he said.

The insurer received its takaful window license from the IC in November last year. Takaful is a type of Islamic insurance where members contribute a certain sum of money to a common pool. Takaful insurance needs to be compliant with Shari’ah law, which prohibits riba (interest), al-maisir (gambling), and al-gharar (uncertainty) principles. — A.M.C. Sy

Women businesses at the Osaka World Expo

March 25, 2025 | 12:03 am

two-business-woman-standing-using-smartphone-discussing-front-office-business-working-concept-(1) — FREEPIK

Almost 15 years ago, I engaged with WeConnect International and had a dream to go global with coffee. I met Elizabeth Vazquez, founding trustee, who brought many American companies to the task of procuring from WOEs, or Women-owned enterprises. In Chongqing, China, we were introduced to the likes of Marriott, Accenture, and FedEx, companies you only dream of selling to. It was also at this meeting where we met International Women’s Coffee Alliance (www.womenincoffee.org) whose business was to gather women coffee farmers and women coffee buyers, making sure the money ended up in the hands of the women who worked hard for the coffee.

I thought it was a dream, a longshot for a small entrepreneur like myself to be able to supply such corporate giants. But sooner not later, Accenture’s Asia-Pacific head met me again in a follow-up conference and directed her Philippine office to order from me! I proudly walked into Accenture’s Philippine office carrying my packs of coffee for their pantry. Except for some legal red tape that we could not untangle, Accenture would be a good place to offer products and services from WOEs because they have a procurement policy to buy from diverse suppliers, especially women-owned and minority-owned enterprises.

Another dream come true was Marriott. They also ordered coffee for their store and for their café, part of their procurement imperative to buy from small WOEs. So, it is true and WeConnect did really connect me to these corporate behemoths.

This year, I reconnected with the Asia-Pacific office because we are going to the world expo in Osaka, Japan in May. This time, I am taking younger entrepreneurs with me to share my experience and for them to experience a similar “aha” moment at the business matching that WeConnect will organize. With many more companies joining the pool, a majority of which need services, there will be a bevy of choices for buyers from all over the world.

At the Cartier-sponsored pavilion, WeConnect has chosen three whole days of business matching for WOEs. There will be panels of speakers who will share their trade secrets of how this alliance can be the secret sauce to selling to big buyers, especially governments. All over the globe, governments have the highest spend, and even in our own Philippines, the Government Procurement Policy Board (www.gppb.gov.ph) has worked with WeConnect to certify what or who qualifies as a WOE. There is a certification process that every seller must undergo to keep the supplier group as honest as it can be — there are tricky situations where male partners use the woman’s name but still keep control, a practice WeConnect is able to uncover when it does its certification process.

On May 28 to 30, the Philippine Women’s Economic Network or Philwen (www.philwen.org) will be bringing delegates and sellers to the Women’s Pavilion and we are quite excited to meet the buyers from corporations and governments who may be in need of our products and services. Coffee, of course, will still be a main product needed by almost everyone.

What is an even better deal is that our fee to enter the expo and the event will be valid for the entire duration of the expo which is a long six months. An entrance fee is paid once then you can take several trips to Japan, bring different teams, all the way until October. For our May event, we will even be provided with a shuttle to and from the expo from our hotel and get special hotel rates because the Marriott, remember, is a member of WeConnect. That’s the beautiful connection within the organization. Every big name is just a handshake away.

Why do these corporations do it anyway? Why do governments choose to help? Because supplier diversity is an economic driver that moves more minority-owned companies to the fore, especially WOEs who are not able to participate in expensive biddings and tenders due to size or capital. Supplier diversity is the equalizer, and companies are introduced to many more vendors they otherwise would not have met if not for this initiative of WeConnect. There is a fee, of course, for the sustainability of the very effort WeConnect makes to certify vendors and suppliers. Buyers also are accredited by them to ensure the purveyors get paid on time and without issues.

In the Philippines, what we have is a government rule that a big part of the spend must come from micro-, small- and medium-sized enterprises (MSMEs), not just WOEs. But since women make up a big part of MSMEs, they are able to snag contracts with government, but not in the same spirit that WeConnect does. This law can further be improved to state WOEs as the ultimate beneficiary of contracts for small purchases in local government units (LGUs) or the National Government Agencies (NGAs) as PHILWEN would want it to be. Maybe we can find a sponsor among the women senatorial candidates and the current women senators. Women do need a leg up when it comes to being government suppliers as biddings are usually reserved for bigger companies, and women lack participation in partaking of government spend.

But we must not fret because there is WeConnect that can make us instant exporters or suppliers to bigger companies even if we are a small outfit. And the best way to know how it works is to come with us to Osaka in May. See how other WOEs do it, how buyers make a negotiation, and how sustainable your business can be if you open up to other buyers and sellers. The expo and the pavilion are open to both men and women, but the selling companies must be WOEs. Simple rules for complex and substantial orders.

The Expo runs from April 13 to Oct. 13 in Osaka, Japan. Its goal is to contribute to the achievement of the Sustainable Development Goals (SDGs) and the achievement of Japan’s National Strategy Society 5.0.

This article reflects the personal opinion of the author and does not reflect the official stand of the Management Association of the Philippines or MAP.

Chit U. Juan is co-vice chair of the MAP Environment Committee. She is also the president of the Philippine Coffee Board, Inc. and Slow Food Manila (www.slowfood.com).

map@map.org.ph

pujuan29@gmail.com

Globe, Gogolook partner to combat rising online scams

March 25, 2025 | 12:03 am

GLOBE TELECOM, Inc. has partnered with global TrustTech company Gogolook Co. Ltd. to provide free access to its call identification and spam-blocking application, Whoscall, to help combat rising scams and online threats.

“Our partnership with Gogolook empowers our users with an added layer of security, equipping them with the tools they need to identify and block potential scams. As online fraud continues to evolve, we remain steadfast in our commitment to safeguarding our customers’ lives and ensuring they can connect safely and confidently,” Globe’s Consumer Mobile Business Officer-in-Charge Eric Leif Tanbauco said in a media release on Monday.

The partnership will give Globe customers access to Whoscall Premium Basic, providing an additional layer of digital security, Globe said.

Globe and Gogolook have streamlined the activation process, allowing seamless access for customers. Globe Platinum and postpaid customers will receive free access to Whoscall Premium Basic for one year, it said.

Prepaid customers can redeem it through the Globe Rewards catalog for two Rewards points or claim a complimentary voucher via Globe Rewards+.

System software company Gogolook is the developer of Whoscall. The application offers caller identification, distinguishing between safe contacts and potential scammers.

Headquartered in Taiwan, Gogolook utilizes its database and advanced artificial intelligence technology to provide services in communication fraud prevention and financial technology.

“As part of Gogolook’s mission to help Filipinos navigate the online space safely, we are offering Whoscall Premium Basic for Globe customers in a pilot run starting this April,” Gogolook Philippines Country Head Mel Migriño said.

“This initiative goes beyond technology — it’s about shared advocacy,” he added. — Ashley Erika O. Jose