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Set designer lodges sexual assault complaint against Gerard Depardieu, lawyer says

POSTER for the film Les Volets verts (The Green Shutters). The film’s set designer has claimed that actor Gerard Depardieu groped her. — IMDB
POSTER for the film Les Volets verts (The Green Shutters). The film’s set designer has claimed that actor Gerard Depardieu groped her. — IMDB

PARIS — A formal complaint of sexual harassment and sexual assault has been lodged against Gerard Depardieu by a crew member of a film they worked on together, the complainant’s lawyer said, in the latest in a string of allegations against the French actor.

The complaint was filed on Friday, lawyer Carine Durrieu-Diebolt said in an e-mailed statement on Monday.

The Paris prosecutor’s office said it had not yet received the complaint, while the actor’s lawyers and agent did not immediately respond to a phone and e-mail request for comment.

Ms. Durrieu-Diebolt was confirming a report from French news outlet Mediapart, which earlier said the events took place during the filming of Les Volets verts in 2021, in which Depardieu stars alongside actress Anouk Grinberg.

The complainant, a 53-year-old set designer, told Mediapart the actor had groped her.

In the statement, Ms. Durrieu-Diebolt said the modus operandi was similar to that described by about 20 other women who had testified against the actor, saying “the events lead to harm and a lasting psychological impact for the victims.”

Mr. Depardieu, a household name in France, has been at the center of a growing number of sexual assault allegations. In 2022, investigative magistrates placed him under formal investigation on suspicion of rape and sexual assault of 28-year-old actress Charlotte Arnould.

The actor, through his lawyers, has previously denied wrongdoing and “firmly rejected” accusations against him. His Legion d’Honneur medal, France’s highest decoration, has also been placed under review, following the allegations.

However, French President Emmanuel Macron and dozens of prominent figures, including actress Nathalie Baye and model, singer and former first lady Carla Bruni, have rallied to his defense. More than 50 cultural figures penned an open letter, published in conservative daily Le Figaro last year, saying he had been the recipient of a “torrent of hatred” and the victim of a public “lynching.” — Reuters

SOCResources, Inc. opens nomination of candidates for vacancies on the Board of Directors

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Banks’ loans counted as reserves hit P5.73 billion

BANKS’ LOANS to micro, small and medium enterprises (MSMEs) and large companies that count as compliance with reserve requirements (RR) stood at around P5.73 billion as of Jan. 11, latest central bank data showed.

Thrift banks (TBs) and rural and cooperative banks (RCBs) lent P5.7 billion to MSMEs and P27.7 million to eligible large enterprises (LEs) as alternative compliance with the RR for the reserve week ending Jan. 11, the Bangko Sentral ng Pilipinas (BSP) said in a report.

These accounted for 0.4% and 0.002% of total required reserves for the said reserve week, respectively.

According to the BSP, banks continue to use the relief measure despite its expiration for universal and commercial banks on July 1, 2023.

“TBs and RCBs can still utilize their outstanding loans to MSMEs and LEs as alternative compliance with the RR until such loans are fully paid, but not later than Dec. 31, 2025, subject to certain conditions,” the BSP said.

During the coronavirus pandemic, the central bank allowed banks to count their loans to MSMEs and pandemic-hit large enterprises as part of their compliance with reserve requirements.

The unwinding of the COVID relief measure coincided with the reduction in the reserve requirement ratios (RRR) on June 30, 2023 to facilitate the transition, supporting the banks’ continued compliance with the RRR and managing costs related to the policy adjustment.

In 2022, the Philippine banking system allocated P263.1 billion loans to MSMEs as compliance with the RRR. This was around 15.9% of the total required reserves.

Likewise, banks extended P72.9 billion in loans to eligible large enterprises as alternative compliance. This was about 4.4% of the total required reserves for the same reserve week.

The loans disbursed by banks are still within the caps imposed by the BSP — P300 billion for MSMEs and P425 billion for large companies.

The BSP requires banks to keep a minimum amount of cash reserves with the central bank determined by their deposit liabilities. — Keisha B. Ta-asan

Now Telecom, Rakuten Symphony team up for 5G open RAN 

PHILIPPINE STAR/EDD GUMBAN

NOW Telecom Co., Inc. has partnered with Rakuten Symphony to establish a framework for the pilot deployment of fifth-generation (5G) open radio access network (RAN) in the Philippines.

“Our partnership with Rakuten, the force behind Japan’s 4th mobile operator and a key player in launching Germany’s newest mobile network, signifies a pivotal moment for Now Telecom,” Mel V. Velarde, Now Corp. chairman, said in a stock exchange disclosure on Tuesday.

“This collaboration is instrumental in our mission to unveil a secured 5G network in the Philippines,” he added.

Now Telecom is an affiliate of listed Now Corp., which has business operations in telecommunications, media, and technology.

In their signed memorandum of understanding, the two companies aim to develop network disaggregation and open interfaces, which will enable them to build a customized network.

Open RAN solutions help promote interoperability and reduce the cost of 5G infrastructure while also expanding the reach of internet connectivity to underserved regions.

“Under the terms of the agreement, Rakuten Symphony and NOW will collaborate with the aim of developing disaggregated networks and open interfaces in the Southeast Asian country,” Now Telecom said.

Rakuten Symphony is a unit of the Japanese financial technology company Rakuten Group, Inc. It is a business-to-business services provider for the mobile telco industry.

The two companies aim to develop 5G and all related information and communications technology solutions for Now Telecom’s network.

“We look forward to bringing Rakuten Symphony’s expertise in Open RAN solutions and digital services to support Now Telecom’s 5G Open RAN ambitions,” said Sharad Sriwastawa, president Rakuten Symphony. — Ashley Erika O. Jose

Turning leather crafting into a side hustle

THE REDESIGNED Montblanc Sartorial Collection features bags and smaller accessories

Mark Ngo, a 39-year-old Filipino advertising agent, started leather crafting in 2017 to earn extra income.

“I’m not yet at the level where I can leave my work and do this full-time,” the microenterpreneur, who is behind the seven-year-old brand Marked, said in an interview. “It can support some expenses, but in terms of supporting my family, I’m not there yet.”

Leather crafting can be turned into a side hustle, but profitability depends on what type of crafter you are and the time you put in the business, he said.

A leather crafter can mass produce, accept custom orders or can be like himself, who sells his own designs, Mr. Ngo said. “How long can you make an order? If it’s too long, clients will back out.”

Mass production of products such as keychains and souvenirs could be the more profitable route, but it requires more hands to fulfill orders.

He said it’s difficult to sell leather because it’s expensive and competition is tough.

“You need to invest time, learn the techniques, buy the materials and promote your products,” he said. “You must like what you do to keep going.”

Mr. Ngo started making his own leather goods seven years ago because he couldn’t find a leather satchel with the style he wanted.

His wife pushed him to enroll at the SoFa Design Institute, where he studied basic bag-making and patterns. He later ventured into leather crafting.

Mr. Ngo developed his own aesthetics through constant practice and continuous learning from books and videos.

He said starting out was trickier before than it is now because supplies were limited. Online shopping at that time was uncommon and he got his tools from an obscure website.

Marikina City, the country’s shoe capital, is the place to go for leather supplies, he added.

“I had an idea which stores catered to leather crafting,” Mr. Ngo said. “Before, I would go to Nation Shoe Supply and later, to Tony Tony Leather Crafting. They started offering different leather materials and leather articles.”

He set up an e-commerce website only to discontinue it after finding out that customers preferred to message him on Instagram, where he showcases his products.

Mr. Ngo said he gets inquiries from overseas buyers who back out after finding out about expensive shipping fees.

Mr. Ngo sells wallets and bags that cost as low as P3,000 ($53) and upwards of P10,000. “That’s how you profit in a way, if you put value on your work. But the quality should match your work.”

Mr. Ngo, who requires a 50% downpayment to start a project, says he doesn’t stock too much leather.

Humidity can bring about molds, and natural leather can oxidize, he pointed out.

It’s helpful to identify early on what you want to focus on — whether its bags or belts — because this helps you master the craft, Mr. Ngo said. Just as helpful is brushing up on knowledge, whether through formal school or YouTube.

He also cautioned budding crafters from buying materials all at once.

“Buy as you need so you don’t end up buying everything,” he said. “But if you want to buy quality tools, be ready to shell out money.” — Patricia B. Mirasol

Reform in the visa application process

MANA5280-UNSPLASH

On Jan. 31, the Bureau of Immigration (BI) issued Immigration Memorandum Circular No. 2024-002 (Memorandum Circular) which established a Visa Processing Center (VPC) and provides for its procedure for visa application processing. Through this Memorandum Circular, the BI seeks to improve the efficiency, probity, and quality in the processing of visa applications in accordance with our immigration laws.

The Memorandum Circular, which took effect on Feb. 15, creates the VPC, a body within the BI, which is tasked to accept, process, assess, and evaluate visa applications. It shall handle applications for visa conversion, extension, amendment, and inclusion of dependents relating to immigrant, non-immigrant, and special non-immigrant visas under Commonwealth Act (CA) No. 613, as amended, special laws, and other issuances. The VPC replaces the now-abolished Visa and Special Permits Task Force, created under Immigration Administrative Order No. SBM-2015-006, which used to act as the central processing body for all visa and special permit applications. The VPC is under the control and supervision of the BI Board of Commissioners (BoC).

Pursuant to the Memorandum Circular, the VPC is composed of immigration officers and personnel designated as Visa Processing Officers (VPOs). The VPOs are responsible for processing, evaluating, and assessing all visa applications. They are likewise in charge of verifying the completeness and authenticity of the supporting documents submitted, in accordance with existing laws, procedures, rules, and regulations.

The Memorandum Circular also sheds light on the procedure in the processing of visa applications. It explicitly states that no pre-evaluation shall be done by any BI personnel on visa applications. This means that all visa applications shall be received by the BI on an “as-is, where-is” basis. Thus, visa applicants must ensure that their applications are in order and that their supporting documents are complete and authentic upon filing the same.

Regarding the process, it seems the BI has kept its existing general procedures, albeit with some modifications. As before, the visa applicants must first check with the appropriate BI Assessor whether they have a derogatory record, and if so, clear and settle this before the visa application may proceed. The BI Assessor shall assess the applicable fees on the visa application and issue the corresponding BI Clearance Certificate, if there are no derogatory records. After the payment of fees, the visa application will be endorsed to the assigned VPO as determined by an automated raffling system.

As part of the processing and evaluation of visa applications, the VPO may now hear or interview the visa applicant, if necessary. To recall, the BI has resumed, as of November 2023, face-to-face interviews for applicants of spousal visas, such as the 13(a) visa, as provided under Section 13 of CA No. 613 or the temporary resident visa by virtue of marriage to a Filipino citizen as provided under existing immigration issuances.

If the visa application is in order and the documentary requirements are complete and authentic, the VPO shall recommend the visa application to the BoC for appropriate action and inclusion in the agenda. Meanwhile, for visa applications with incomplete and/or counterfeit documents, the VPOs are expressly directed to outrightly deny the application and furnish the applicant with the Order citing the basis of the denial.

With regard to the implementation or stamping of the approved visa on the passport, the Memorandum Circular states that the implementation of the approved visa shall be completed within two working days from receipt of the original passport by the BoC-Implementation Unit. It must be noted that unimplemented visas shall be endorsed back to the VPC after 90 days from BoC approval for purposes of cancellation on the ground of abandonment. Hence, visa applicants must submit the original passports to the BI for implementation within 90 days from approval to prevent the automatic cancellation of the approved visa.

The Memorandum Circular emphasizes the submission of authentic documentary requirements. To illustrate, for the pre-arranged employment or 9(g) commercial work visa applications, the corporate documents of the petitioner/sponsor company must be duly issued by the Securities and Exchange Commission. For inclusion applications of dependents, the marriage and/or birth certificates issued abroad must be duly authenticated or apostilled by the appropriate office in the country where the certificate is issued. Visa applicants must take note that apart from outright denial of applications with incomplete requirements or inauthentic or counterfeit documents, approved visa applications may be cancelled upon post-audit should there be a finding of spuriousness, fraudulence, or falsity in the submitted documents. Such a cancellation will come with an Order to Leave the country and inclusion in the Blacklist of the BI, as well as imposition of fines, penalties, and sanctions pursuant to existing laws, rules, and regulations.

With the implementation of the new Memorandum Circular, it is hoped that the BI, through the newly established VPC, will efficiently act on and dispose of visa applications while promoting ease of doing business and ensuring national security and public safety. Meanwhile, visa applicants are reminded to ensure the completeness and authenticity of all documents submitted as part of their visa applications. This is to prove to the BI’s satisfaction that they have the qualifications required for the visa applied for. After all, the issuance and grant of a visa is a matter of privilege, not a matter of right.

This article is only for general informational and educational purposes and is not offered as and does not constitute legal advice or opinion.

 

Kristine Bernadette F. Soriano is an associate of the Immigration department of the Angara Abello Concepcion Regala & Cruz Law Offices (ACCRALAW).

kfsoriano@accralaw.com

(632) 8830-8000

London insect farm hatches plan for greener way to feed animals

OKTAVIANUS MULYADI-UNSPLASH

LONDON — Buzzing underneath a set of railway arches in central London are hundreds of thousands of little flies, showcasing insect-farming technology that could help fight climate change.

At its research center, eight-year-old startup Entocycle is aiming to show how the process of turning protein-rich bugs into food for chickens and pigs could be adopted on a large scale.

The flies themselves feed on almost any food waste and are better for the planet than traditional animal foods such as soy, which have a much higher carbon footprint, explains founder and chief executive Keiran Whitaker.

“We cut down rainforests to produce soy, we overfish the oceans to catch fishmeal, and then they get turned into protein feed that gets shipped all over the world again to feed the animals,” he says. “It’s incredibly unsustainable.”

Insect protein has become a popular alternative in recent years across agriculture and aquaculture as demand for animal feed surges, with companies including US food giant Cargill adopting the use of insect feed.

Entocycle, which Mr. Whitaker expects will become profitable later this year, aims to bring an industrial-level efficiency to insect farming, designing hardware that includes precise measuring devices, robotic arms and a temperature-controlled setup for breeding insects.

With the rumble of trains overhead and the acrid scent of fly feces hanging heavy around the office, engineers and biologists in white lab coats are preparing for a significant expansion of Entocycle’s research center over the coming weeks.

At the heart of the effort is the humble and tiny black soldier fly, widely recognized for its potential to help fight climate change by being a more environmentally friendly protein source.

“It is the quickest, cheapest, most sustainable insect to farm and it’s a non-disease, non-pest species found all over the world,” Mr. Whitaker says of the insect, which gets turned into packageable protein during its wriggly, worm-shaped larva phase.

Most of the reared black soldier flies at its London center become insect protein.

But a small proportion are bred in a humid insectary, where they will chomp for days on food waste — organic matter derived from out-of-date sandwiches to barley discarded by local breweries — before laying hundreds of eggs, enabling the cycle to continue.

British entomologist George McGavin, who calls the black soldier fly the superstar of the edible insect industry, says insect farming can help produce “seriously large amounts of protein” in a small space and in very little time

“Insect farming actually offers a very viable alternative — and one which is efficient, relatively easy to do, and without any ecological risks that I can see,” Mr. McGavin says. — Reuters

Philippines’ rank inches up in Economic Freedom Index

The Philippines edged up a notch to 88th out of 176 countries with an economic freedom status of “mostly unfree” for the second straight year in the 2024 edition of the Index of Economic Freedom by The Heritage Foundation. The country scored 59.0 out of 100, better than the global average of 58.6 and the Asia-Pacific regional average of 57.4.

Philippines’ rank inches up in Economic Freedom Index

How PSEi member stocks performed — February 27, 2024

Here’s a quick glance at how PSEi stocks fared on Tuesday, February 27, 2024.

PSEi continues fall, tracks Wall Street decline

BW FILE PHOTO

PHILIPPINE SHARES dropped further on Tuesday as profit taking continued, tracking Wall Street’s decline amid the lack of fresh leads.

The Philippine Stock Exchange index (PSEi) declined by 0.44% or 30.82 points to close at 6,860.67 on Tuesday, while the broader all shares fell by 0.48% or 17.40 points to end at 3,583.09.

“The local market extended its decline this Tuesday by 0.44% to 6,860.67 as investors continued to take profits amid the lack of a fresh positive catalyst on the local economy’s outlook,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.

“The local bourse also took cues from Wall Street’s overnight decline wherein investors took a cautious stance while waiting for upcoming US economic data, including the January personal consumption expenditures (PCE) price index,” he added.

US stocks ended with modest losses on Monday, as the focus shifted after last week’s AI-fueled rally to upcoming economic data that could affect the timing of the US Federal Reserve’s expected interest rate cut, Reuters reported.

The release of January’s PCE price index — the Fed’s preferred inflation gauge — on Thursday could dampen the recent enthusiasm should the data indicate price pressures are not cooling fast enough.

Markets have all but ruled out a cut at the Fed’s March meeting and have recently pushed back expectations for easing to June from May, CME’s FedWatch tool showed, on the heels of surprisingly strong consumer and producer price data.

The Dow Jones Industrial Average fell 62.30 points or 0.16% to 39,069.23. The S&P 500 lost 19.27 points or 0.38% at 5,069.53, and the Nasdaq Composite lost 20.57 points or 0.13% at 15,976.25.

“Investors are also keeping to cash as they assess the release of more local earnings,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

“Philippine shares continued to be sold down following the sentiment in the US, as the market halted its prior rallies, with investors waiting for more inflation related data,” he added.

Majority of sectoral indices closed lower on Tuesday. Mining and oil declined by 1.91% or 167.09 points to 8,551.89; property retreated by 1.27% or 37.24 points to 2,877.25; financials went down by 1.15% or 23.21 points to 1,980.88; and holding firms decreased by 0.48% or 31.40 points to 6,442.50.

On the other hand, services rose by 1.12% or 19.45 points to 1,755.91, and industrials increased by 0.04% or 4.24 points to 9,274.08.

Value turnover rose to P5.66 billion on Tuesday with 577.04 million issues changing hands from the P4.24 billion with 677.01 million shares traded the prior day.

Decliners outnumbered advancers, 112 versus 63, while 49 names closed unchanged.

Net foreign buying rose to P77.08 million on Tuesday from P39.51 million on Monday. — R.M.D. Ochave with Reuters

Peso inches up before US PCE price index data

BW FILE PHOTO

THE PESO inched up against the dollar on Tuesday as the market awaited the release of US personal consumption expenditures (PCE) price index report, as it could affect the US Federal Reserve’s policy stance.

The local unit closed at P56.08 per dollar on Tuesday, strengthening by 1.5 centavos from its P56.095 finish on Monday, Bankers Association of the Philippines data showed.

The peso opened Tuesday’s session slightly weaker at P56.10 against the dollar. Its worst showing was at P56.175, while its intraday best was at P56.04 versus the greenback.

Dollars exchanged rose to $1.74 billion on Tuesday from $982.3 million on Monday.

The peso inched up against the dollar as the market looked ahead to the release of the US PCE price index report, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

“The peso-dollar pair was in consolidation mood as market waits for further data later this week, chief of which is the PCE data from the US. Seems the bias is to trade the range for now prior to the data,” Security Bank Corp. Chief Economist Robert Dan J. Roces likewise said in a Viber message.

The dollar was also generally weaker against other currencies on Tuesday due after US President Joseph R. Biden, Jr. signaled a possible ceasefire between Israel and Hamas, Mr. Ricafort added.

The dollar traded on the back foot on Tuesday, as markets looked ahead to a week of US economic data that will provide fresh signals on how soon the Federal Reserve may begin cutting interest rates, Reuters reported.

The US dollar index, which measures the currency against a basket of peers including the yen, euro and sterling, traded flat at 103.77 in Asian time, following a 0.17% slide on Monday.

Markets have all but ruled out a cut at the Fed’s March meeting and have recently pushed back expectations for a cut to June from May, CME’s FedWatch Tool showed, following strong US consumer and producer price data.

US durable goods data is due later on Tuesday, while January’s US PCE price index, which is the Fed’s preferred measure of inflation, will be released on Thursday.

The dollar slipped 0.12% to 150.505 yen, with new figures showing consumer inflation stayed at the Bank of Japan’s 2% target in January, rather than dipping below it for the first time in nearly two years, as economists had predicted.

For Wednesday, Mr. Ricafort expects the peso to range from P55.95 to P56.15 per dollar, while Mr. Roces sees it moving between P55.70 and P56.20 for the whole week. — AMCS with Reuters

Marcos to seek Australia’s support vs China as he faces its parliament

PRESIDENT FERDINAND R. MARCOS, JR. — PHILIPPINE STAR/KJ ROSALES

PHILIPPINE President Ferdinand R. Marcos, Jr. will seek the support of Australia amid Chinese aggression at sea, the Foreign Affairs department said on Tuesday.

Mr. Marcos is expected to speak before the Australian Parliament during his state visit to Australia on Feb. 28, Foreign Affairs spokesperson Ma. Teresita C. Daza told a palace news briefing. “It will be the first time a Philippine President will be speaking before the Parliament of Australia.”

His engagement with the Parliament would “help us underscore both countries as maritime nations have actually committed to adherence to the rules-based order and international law,” she said.

World leaders who had spoken before the Australian Parliament include former US presidents George W. Bush and Barack Obama, Hu Jintao of the People’s Republic of China, ex-British Prime Minister Tony Blair, former Japanese Prime Minister Shinzo Abe, Indonesian President Joko Widodo and Chinese President Xi Jinping.

The Philippines and Australia in September agreed to enhance their partnerships by elevating their relations from a comprehensive into a strategic one.

Mr. Marcos, who has been visiting Philippine allies since becoming President in 2022, will return to Australia on March 4 to 6 for a dialogue summit between Canberra and the Association of Southeast Asian Nations (ASEAN), Foreign Affairs Assistant Secretary Daniel R. Espiritu said at the same briefing.

The summit in Australia, ASEAN’s oldest dialogue partner and one of the “most active” in economic and political fronts, is an opportunity for the Philippines to present its stance on international issues, he said.

It will also “set the tone for dialogue partner summits later in the year.”

Tensions in the South China Sea, which also worry Canberra, and ties in defense and security would also be discussed during Mr. Marcos’ visit to Australia, Ms. Daza said.

“We have very strong defense and security relations with Australia, and they’ve been partners with us for a long time, even before the official establishment of relations, because they were with us as partners during World War II,” she said.

Ms. Daza said the Philippines is expected to sign economic and security agreements with Australia during the President’s visit.

The Philippines has the fifth-largest immigrant community in Australia, with about 408,000 Filipinos living there, Ms. Daza said.

Most Filipinos there work as craft and trade workers and professional service and sales workers. Most of them work for Australian companies in agriculture, forestry and fishery.

Australia has also been a key destination for Filipino students seeking higher education, she said. The country had almost 18,000 international students from the Philippines in 2022.

The Philippines received more than 2,600 tourists from Australia last year. — Kyle Aristophere T. Atienza

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