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Taylor Swift’s Eras Tour is a potent reminder that the internet is not real life

AMERICAN singer-songwriter Taylor Swift on the Eras Tour in Arlington, Texas, April 2. — RONALD WOAN-COMMONS.WIKIMEDIA.ORG

IN THE WEEKS leading up to June 16, 2023, when I attended the Pittsburgh leg of Taylor Swift’s Eras Tour, the online chatter about the 33-year-old singer had become draining.

The internet was ablaze with rumors about Swift dating Matty Healy, the lead singer of the English pop-rock band The 1975. Some Swifties — the term used for diehard Taylor Swift fans — berated the pop superstar for dating Healy, who’d become mired in controversy for appearing on a podcast whose hosts made racist comments about the rapper Ice Spice.

As the Pittsburgh leg of the tour approached, I wondered if I were about to dive headfirst into an angry mob of tens of thousands of Swifties.

On the day of the show, Acrisure Stadium was mobbed with 72,000 people, but the Swifties in attendance were far from angry.

In that moment we became deeply connected by our shared love and admiration for Swift’s music. Sociologist Emile Durkheim described this phenomenon as “collective effervescence,” the unique surge in feeling when large groups of people come together for a shared purpose.

“It was rare, I was there, I was there,” Swift belted out during “All Too Well.”

I was there, too, as life events touched by Swift flashed by: sitting at my first desktop computer as a teenager in Kathmandu, Nepal, replaying “Love Story” on LimeWire; my first week in the US, during the 2009 MTV Video Music Awards, when Kanye West infamously interrupted Swift; how Swift’s eighth studio album, “Folklore,” brought me back to life after it seemed as if the world were on the verge of imploding in 2020.

The Eras Tour was not my first experience of collective effervescence. Nor was it the first time I felt such a strong disconnect between the online and offline worlds.

Right before the pandemic began, there was the painfully quiet fizzling out of the Bernie 2020 movement. As a volunteer for that campaign, I had the remarkable experience of connecting with other Americans who wanted a Bernie Sanders presidency.

I especially appreciated how this role connected me to the people who make up the Nepali diaspora in the US. We hoped to improve our immigrant experiences, whether it involved no longer fearing the deportation of loved ones or easier access to healthcare.

But then repeated news cycles about “toxic Bernie Bros” seemed to drain the movement’s momentum. Mainstream media outlets reported that Sanders’ base was made up of white male cyberbullies. Negative tweets had been amplified, and the words and behaviors of a few Sanders supporters all of a sudden were being portrayed as representative of an entire movement.

The contrast between what was being said online versus my own experiences was jarring: Here I was working to find transportation for 80-year-old Nepali grandmas who didn’t speak English but wanted to vote for Sanders.

Post-election analysis would show that the Bernie Bro trope was entirely constructed; there was no evidence to show that young white men made up a majority of Sanders’ supporters. The movement, in fact, consisted of a diverse coalition of people from marginalized races and genders.

TOXIC ONLINE BEHAVIOR
Online narratives distort real life more often than you might realize.

Research consistently shows that a small minority of people who have social media accounts post the vast majority of content.

In what’s termed the “90-9-1 rule,” 90% of users on these websites only “lurk” or read content, 9% of the users reply or re-post with occasional new contributions, and only 1% of the users frequently create new content.

Pioneered by Jakob Neilson, the 90-9-1 rule is one of many theories within internet studies that describe participation rates, and different scholars find support for different variations of this rule. Reddit, for example, has over 1 billion monthly active users, but according to a 2017 conference paper, an overwhelming majority of Reddit users are lurkers. X, the website and app formerly known as Twitter, had around 350 million users as of 2023; however, research from 2019 found that 75% of its users were lurkers.

In other words, most of the discussions happening on websites like Reddit and Twitter come from a vocal minority of users — whose posts are then curated and boosted by algorithms.

Nonetheless, in the past decade, the news media have increasingly constructed narratives about collective reality based on what happens on these websites.

Of course, toxic online behavior exists in all online communities. But it represents the words of a smaller minority of users within the already small minority of people who post content online. Media narratives that emphasize certain groups as toxic based on online behavior — whether they are describing fandom or politics — fall into the trap of confusing the internet with real life.

In the weeks when Swift was dating Healy, a vocal minority of Swifties came head-to-head with a vocal minority of Healy’s defenders. Then the celebrity pair ended their relationship, and collective attention moved on from that topic almost immediately.

Several weeks of nonstop debate, attacks and hand-wringing ended up being utterly meaningless — except to social media companies that converted this brief obsession into clicks, engagement and ad revenue.

My forthcoming book, Attention and Alienation, brings renewed focus to an increasingly demystified phenomenon: The online attention economy maximizes profits by designing algorithms that boost engagement, particularly by promoting negativity and outrage.

DIRE CONSEQUENCES
Sometimes the consequences of mistaking the internet for real life are dire.

Take reproductive health. Online rage about the Supreme Court’s decisions to overturn Roe. v. Wade peaked within a few days and people moved on to different topics.

Today, reports about reproductive healthcare take up very little news media space compared with garden-variety trending topics like “Barbenheimer” — the double blockbuster release of the movies Barbie and Oppenheimer on July 21, 2023.

In the real world, many people continue to suffer from lack of access to lifesaving reproductive healthcare across the US, while the online chattering class celebrates the radical feminism of the Barbie movie.

Perhaps it’s time to sideline social media and the internet when evaluating the nature of our collective reality. Reality exists outside of our devices, whereas social media algorithms push whatever keeps us tethered to the screen. There is little evidence to support the idea that online discourse represents collective experiences.

That might be easier said than done: 94% of journalists say they use social media for their jobs.

But as an internet researcher — and Taylor Swift fan — I am hopeful that experiences like the Eras Tour will wake up more people to the fact that human beings are more united than social media algorithms would have us believe.

THE CONVERSATION VIA REUTERS CONNECT

Aarushi Bhandari ia an assistant professor of Sociology in Davidson College.

SEC warns public on two unregistered entities

THE Securities and Exchange Commission (SEC) has warned the public against two unregistered entities soliciting investments despite having no licenses to do so.

In separate advisories, the regulator identified the two investment-taking entities as B2B Trading Center OPC and LeBronify/Authority Circle.

“The Securities and Exchange Commission has noticed that B2B Trading Center OPC, an entity purportedly engaged in direct selling and social e-commerce, and individuals or group of persons related thereto are soliciting investments through its Go Diamond.On-line Program,” the regulator said.

Would-be investors are required to choose from several packages for investments from P5,000 to P150,000. Investors may also earn from referrals and recruitment.

“The public is made aware that an “investment contract,” a kind of security, exists when there is an investment or placement of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others which is present in the pyramiding investment scheme of B&B Trading Center OPC through its Go Diamond.On-line Program,” the SEC said “Pyramiding, being fraudulent and unsustainable is not a registrable security.”

It said that while B&B Trading Center is registered with the SEC, it is not allowed to solicit investments as it does not have a license to do so.

Meanwhile, LeBronify/Authority Circle is “engaged in investment taking activities under the guise of freelancing consultancy,” the SEC said.

“As promoted by a certain “Niel Reichl” through his Facebook Account, Instagram account, Spotify Podcast and TikTok Videos, the would-be investors may invest either P500,000, 750,000 or 2,000,000 with the first and second option having a lock-in period of 12 months with a minimum 100% interest after the maturity of the investment,” the regulator added.

LeBronify/Authority Circle is not registered with the SEC as a corporation and is not allowed to solicit or take investments or issue securities, it said.

The scheme used by the entity “has the characteristics of a “Ponzi Scheme” where money from new investors are used in paying “fake profits” to prior investors and is designed mainly to favor its top recruiters and prior risk takers and is detrimental to subsequent members in case of scarcity of new investors,” the SEC said. — AHH

Mexico says US refuses to cooperate on GM corn studies

REUTERS

MEXICO CITY — The US has denied a request by Mexico to jointly conduct scientific research on the health impact of genetically modified (GM) corn, a Mexican government official said, a sign the two sides could be inching closer to a formal trade dispute.

Mexico has repeatedly called on the US to work together on scientific studies amid a conflict over the Latin American country’s plans to limit the use of GM corn. Mexico buys about $5 billion worth of corn from its trade partner annually, most of which is GM yellow corn used for livestock feed.

The US, however, denied this request and made it clear it will not participate in new scientific studies with Mexico, Mexican Deputy Agriculture Minister Victor Suarez said in an interview with Reuters.

The two countries discussed Mexico’s request, including during a visit by US Agriculture Secretary Tom Vilsack, but the US will not oblige, Mr. Suarez said.

“They did not want to establish a period in which the two parties agree to carry out impact studies on animal health and human health,” Mr. Suarez.

“Their science is the Word of God. That is not science, that is ideology,” he added.

When asked to comment on what Mr. Suarez said, the US Department of Agriculture referred Reuters to previous remarks by Mr. Vilsack stating that the US “fundamentally disagrees” with Mexico’s position on biotechnology.

Mexico wants to ban GM corn for human consumption in the food staple tortilla, which is mostly made of white corn, and eventually replace GM yellow corn used for livestock feed, arguing that biotech corn harms native varieties and may have adverse health effects.

The US has argued that Mexico’s plan is not based on science and will hurt US farmers.

In June, Washington requested a new round of trade dispute settlement consultations with Mexico under the US-Mexico-Canada Agreement (USMCA), which are underway.

If the two sides cannot resolve the conflict within 75 days, or by Aug. 16, the US can request a dispute settlement panel to decide the case.

Canada also joined the consultations.

Mr. Suarez said the US does not have the evidence to support its argument in a panel, but that Mexico would be ready.

“If they establish the panel, we will defend ourselves. And if we defend ourselves, we think we are going to win,” Mr. Suarez said, adding that Mexico’s policy has no commercial impact on the US.

Mr. Suarez estimated that between 10% and 15% of foreign corn purchases could be substituted by domestic production by the end of President Andres Manuel Lopez Obrador’s mandate in 2024.

The government is buying 1.5 million metric tons of white corn from producers in Sinaloa state at 6,965 pesos per ton ($409) after the country saw major unrest in the sector prompted by a drop in international grains prices.

The state government will also buy half a million metric tons at that price. Mr. Suarez said the price is based on a calculation of production costs and seeks to revalue the Mexican white grain and separate it from the “commodity” price of yellow corn on the Chicago grains exchange.

“This breaks the price link with Chicago,” Mr. Suarez said, adding that the program would soon expand to other states. — Reuters

Style (08/07/23)


Pandora marks Disney’s 100 years with 2 charms

Disney characters join fan favorites in a series of eight limited edition charms by Pandora to be released this year. Simba from Disney’s The Lion King will be joining the line-up to celebrate Disney’s 100 Years of Wonder this August. The new charm is crafted from sterling silver with solid 14k gold accents and shows the lion cub in a playful pose, resting his front paw on a lab-created diamond. In September, another character will join the celebration: Dumbo, the little elephant with big ears and even bigger dreams. The limited-edition charm in sterling silver features solid 14k gold details and depicts the baby elephant soaring through the sky. He holds a lab-created diamond in his trunk, symbolizing the “magic” feather that gives him the confidence to fly. Each charm in Disney x Pandora’s Disney100 series features a lab-created diamond. Lab-created diamonds are identical to mined diamonds but are grown in a laboratory rather than mined from the earth. Other charms in the Disney100 series launched earlier this year include Oswald the Lucky Rabbit, Cinderella’s pumpkin carriage, and Donald Duck. The designs are accompanied by a dedicated Disney100 bracelet and collector’s box.


Roger Federer, JW Anderson in joint LifeWear collection

Global apparel retailer Uniqlo has announced that it is launching a new collaboration line between the brand’s global brand ambassador Roger Federer by frequent Uniqlo collaborator, designer JW Anderson. The collection, aimed at those who lead an active and comfortable life seamlessly between sports and the everyday, will be available in the Philippines starting Sept. 11. Along with polo shirts and shorts in the Uniqlo Dry Ex material, the collection includes many genderless items such as nylon easy pants with piping down the sides as color accents, a premium knitted lambswool crewneck sweater with bold colors, and a fleece full zip jacket accented with a breast pocket in a different material. To view the Roger Federer Collection by JW Anderson, visit the special website: https://www.uniqlo.com/ph/en/contents/collaboration/rogerfederer-jwanderson/23fw/


Uniqlo / Ines De La Fressange Fall/Winter Collection out this month

Also from Uniqlo, the Japanese brand is launching its Uniqlo / Ines De La Fressange 2023 Fall/Winter collection on Aug. 25. This LifeWear range celebrates the effortless Parisian style of model and Uniqlo regular Ines de la Fressange. The collection reflects her ongoing commitment to providing timeless wardrobe essentials. It encompasses the designer’s desire for people to wear simple, tough, and elegant attire that will last and transmit essential and authentic values. Items such as warm pointelle knits and volume sleeve blouses are typical examples. Also appearing in this collection are sheer shirts and long velvet skirts with modern updates, as well as form-fitting 3D knits and a padded shirt jacket. Denim is a crucial material in the collection. Along with jeans, it is used in dresses, jackets, and shirts. Knitwear items have a color palette of orange and red that evokes a sense of nature.

To view the collection, check out the special website: https://www.uniqlo.com/ph/en/contents/collaboration/ines/23fw/ 


Aqua Moisturizer release new skincare brand, Aera

iWhite Korea, the creators of Aqua Moisturizer, recently introduced to the market Aera, a collection of skincare tools that lets users achieve light, soft matte, and moisturized skin. The brand covers all the essential steps in a Korean skincare routine, from its facial cleanser to its sun tints. Other products include the Aera Calming Gel Wash which brightens dull skin and lightens dark spots thanks to Centella Asiatica extract and sea buckthorn for the calming and soothing effect, rice extract to hydrate, and Ginkgo biloba leaf extract and lemon extract for brightening and lightening. A more intense cleanser is the Aera Pore Clean Foam Wash which removes pore-blocking dirt and excess oil, tightens one’s pores, and improves overall complexion with continuous use. The Aera Pore Blur Whitening Moisturizer, developed with probiotic complex and niacinamide,  can hydrate and improve overall skin complexion. Aera also has BB creams: the Natural BB Sun Tint and the Light BB Sun Tint. They are formulated with eight plant extracts with anti-inflammatory properties, niacinamide for brightening, and flower extracts for moisture. For the nighttime skincare routine there is the All Night Whitening Repair Cream. All products from the Aera lineup are cruelty-free and have affordable prices. The collection is available in Shopee, Lazada, Tiktok Shop, and Watsons branches nationwide.


Ayala Malls Manila Bay’s sneaker brands

Ayala Malls Manila Bay in Parañaque City is becoming a home to a growing roster of global sneaker brands. Foot Locker is known for its vast and unique sneaker collections. It carries everything from caps to sweaters, and jogging pants, in a 700 sqm. space. Foot Locker regularly drops new picks from Nike, Adidas, Puma, New Balance, Converse, Vans, Crocs, and New Era, and shoe care essentials from Crep Protect and Forcefield. Hoka’s first and only store in the country features shoes designed for casual runners, sportsmen, and competitive athletes. Sole Avenue carries some hard-to-find sneaker designs such as Adidas Samba, Nike Dunks, Golden Goose Super-Star, and the New Balance 550. Nike offers an array of new and classic designs that aim to keep users light and quick on their toes. Browse their expansive displays featuring vibrant color blocks, muted pastels, and other interesting textural plays on designs. All the stores mentioned are found at the 2nd floor of Building B. These are just some of Ayala Malls Manila Bay’s wide selection of sneaks. Others include Adidas and Adidas Originals, Asics and Antar, Converse, Fila, Onitsuka, and Puma.


Robinsons Department Store to hold beauty fair celebrating inclusive beauty

Robinsons Department Store will be holding Standout Beauty: Beauty For All, a shopping fair that celebrates diverse and inclusive beauty. A two month-long celebration which kicked off on Aug. 1, the beauty fair brings together a variety of beauty brands to make skincare, makeup, and self-care products accessible to all. Promos will run at Robinsons Department Store and its online marketplaces in GoCart, LazMall, and Shopee Mall from Aug. 1 to Sept. 30. Customers are in for prizes, freebies, and exclusive discounts during the Beauty Fair Week happening on Aug. 28 to Sept. 3 at Robinsons Ermita, Midtown Atrium Activity Center. Top beauty and self-care brands such as L’Oreal Philippines, LuxAsia, Hebe, P&G, Unilever, Colourette, Ever Bilena, Do Day Dream, RMK, Nivea, JNTL, IN2IT, Dermesse, and Beach Hut will have special displays and activations in Robinsons Department Store’s beauty section where customers can get prizes, win freebies, and score discounts of up to 50% on selected products. There will also be the Standout Beauty event on Sept. 2 at Robinsons Ermita Mall where customers can enjoy the participating brands’ booth activities and a chance to meet beauty influencers. For more information, follow Robinsons Department Store on Facebook and Instagram.


The yoboo Baby Skincare Set

A baby’s skin is only 1/4 the thickness of adult skin, making it more fragile and sensitive to mechanical stress. It can also be prone to dryness, redness, and itching. Japanese-based brand Yoboo provides expertly crafted skincare products for babies using natural plant extracts and biomimetic essence to awaken the skin’s intrinsic vitality. “Through its products, Yoboo aims to provide expert care for baby’s skin at any time, whether it’s to protect it from the sun, soothe it from any discomfort or sensitivity, or sustain its moisture after a bath. Its formulations result in the ultimate baby care experience so that your child can enjoy life with healthy and resilient skin,” said Chinen Rina, Pediatrician and Founder of Yoboo. For comprehensive skincare for baby’s head to toe, yoboo offers Baby Skincare Sets from ages 0-6 which include: Baby Soothing Wash and Shampoo (400 ml), a two-in-one foaming wash enriched with PRO-V5, vitamin E, Bisabolol, and camellia seed oil, which has anti-bacterial and anti-inflammatory properties can also help relieve any discomfort and improve any sensitive skin condition; Baby Refreshing Moisturizer (70 gm), a body lotion with double aloe vera juice and vitamin B5, and natural herbal extracts; OlivOat Baby Cream (40 gm), a body moisturizer enriched with glycerin, ceramide NP, and urea to improve a baby’s skin resistance. The Yoboo Baby Skincare Gift Set is available in Shopee and Lazada for P1199.To learn more about Yoboo and its products, visit yoboo.ph or the Yoboo – Philippines Official Facebook Page.


New baby care line for blissful sleep

Direct-selling company Personal Collection (PC) is introducing White Dove with DreamScentz, a collection of mild baby products designed to enhance a baby’s sleep experience. Enriched with the patented DreamScentz technology, the White Dove Baby Care products not only provide nourishment for a baby’s delicate skin but also offer a scientifically proven method to improve the quality of their sleep. White Dove is formulated to be hypoallergenic, mild, and dermatologically tested for babies with sensitive and normal skin types. The line is infused with the soothing DreamScentz fragrance to calm and comfort babies, enabling them to enjoy longer and restful sleep. The fragrance is found in the following White Dove products: baby powder, baby lotion, baby milk soap, baby wash, baby shampoo, and baby oil. White Dove products come in biodegradable packaging. White Dove with DreamScentz products are available on Lazada, Shopee, and PC Starter.

How much did each commodity group contribute to July inflation?

POSSIBLE SUPPLY constraints affecting key food items threatens to reverse the downward trend in Philippine inflation, Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona said on Friday. Read the full story.

Consensus reached on mandatory MUP pension fund contributions

PHILIPPINE STAR/EDD GUMBAN

THE Executive branch and legislators have reached a consensus on the need for military and uniformed personnel (MUP) to make mandatory contributions towards their pensions.

“We’d like to confirm that representatives of the economic team met with leaders of the House of Representatives and we have an emerging consensus on the general terms,” Finance Undersecretary Maria Luwalhati C. Dorotan-Tiuseco said in a chat with journalists on Friday.

Ms. Dorotan-Tiuseco said that the bill being prepared in Congress will require mandatory contributions from MUPs, topped up with contributions from the government.

“We have an agreement as to the mandatory contributions… (in which) the government counterpart payment will have to be bigger,” she said.

“For the (exact) percentage, we still have to do the numbers. But definitely there’s a bigger government share,” she added.

Earlier versions of the reform proposed that current active-duty personnel contribute 5% of their monthly pay over the first three years, which will be supplemented by a contribution from the government equivalent to 16% of their pay. This shares will gradually be adjusted to 9% and 12%, respectively, in the seventh year. 

Meanwhile, new MUPs will pay 9% of their base and longevity pay, with a 12% contribution from the government.

“The fund will have an oversight committee represented by some MUP members,” Ms. Dorotan-Tiuseco added.

MUP pension reform is on the Legislative-Executive Development Advisory Council’s list of 20 priority measures that are targeted for approval by December.

Last week, the House of Representatives approved the ad hoc committee on MUP reform.  Albay Rep. Jose Ma. Clemente S. Salceda will chair the committee. — Luisa Maria Jacinta C. Jocson

Del Monte Pacific Limited to hold Annual General Meeting on Aug. 29

 


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Bivalent COVID-19 shots

Health Secretary Ted Herbosa gets a bivalent COVID-19 vaccine shot during the launching ceremony at the Philippine Heart Center in this photo taken on June 21. — YUMMIE DINGDING / PPA POOL

The Department of Health (DoH) has renewed its call for the public to get vaccinated and get their booster shots to remain protected against COVID-19. It also “strongly recommends” adhering to layers of protection such as wearing of face masks, isolating when sick, and ensuring good air ventilation.

The fresh calls came amidst the announcement that a new Omicron strain had been detected in the country. The new EG.5 subvariant is a sublineage of Omicron XBB.1.9.2. The World Health Organization (WHO) earlier designated this new subvariant under the list of Omicron variants under monitoring.

The WHO explained that all viruses, including SARS-CoV-2, change over time. Some of these changes may affect the properties of the virus. These variations include “how a virus easily spreads, the associated disease severity, or the performance of vaccines, therapeutic medicines, diagnostic tools, or other public health and social measures.”  Aside from variants under monitoring, other classifications are the so-called variants of interest and variants of concern.

The WHO added that a virus under monitoring designation means that a specific subvariant, as in the case of EG.5, has genetic changes that are suspected to affect virus characteristics and early signals of growth advantage relative to other circulating variants. An enhanced monitoring and reassessment are required since the evidence of its epidemiological impact remains to be seen. The virus under monitoring listing will be crucial as subvariants under this classification can have a growth advantage in a region or even globally.

In the past two weeks, the EG.5 was responsible for more than 17% of new COVID-19 cases in the United States. In the Philippines, the XBB variants are still the dominant circulating strains. Metro Manila logged the highest number of new COVID-19 cases in the past two weeks with 107, followed by Calabarzon and Central Luzon.

It is true that the COVID-19 status was downgraded as a result of the pandemic being on a downward trend in the course of 12 months. Death rates have also continued to spiral down. Global health experts attributed this breakthrough to the “highly effective vaccines developed in record time to fight the disease.”

Despite this, the WHO said COVID-19 is “still killing” especially for those belonging to the vulnerable population.

With the high risks still associated with COVID-19, the DoH is ramping up efforts to vaccinate specific priority groups using bivalent shots. It said the bivalent vaccine is intended to be a booster dose for healthcare workers, senior citizens and those with comorbidities. It is important for people under these priority health groups to speak with a healthcare professional to discuss the benefits or any potential side effects when getting the shots. The DoH through the Office of Secretary Teodoro Herbosa and the Public Health Services Team is also organizing an information campaign that seeks to communicate to the public the value of booster vaccination for intended priority groups.

The US Food and Drug Administration (FDA) said bivalent COVID-19 vaccines include a component that corresponds to the original virus strain to provide broad protection against COVID-19 and a component that corresponds to the Omicron variant to give better protection against it. Pfizer-BioNTech and Moderna are two vaccine manufacturers that have developed the bivalent or also called updated vaccines.

The Yale Medicine explained that bivalent vaccines use mRNA technology, which is a way of sending instructions to host cells in the body to make copies of a spike protein. The cells then recognize that this protein is foreign, and the immune system reacts by activating immune cells, thereby producing antibodies. This will then prompt the body to recognize and attack the real SARS COV-2 spike protein if one is infected by the virus.

From monovalent vaccines to bivalent booster shots, vaccination continues to work in three ways. One, COVID-19 vaccines work by lowering the chance of getting the virus. Two, they can also  protect a person from getting seriously ill and can lower the chance of hospitalization and death from COVID-19. Finally, they make a vaccinated person less likely to pass the disease to others.

Vaccines for other diseases also work in the same three ways. Vaccination remains to be one of the most cost-effective and efficient ways to prevent diseases. Apart from COVID-19 booster vaccination, life-course immunization is an equally important aspect of public health to ensure that people from all ages would not have to die or suffer from vaccine-preventable diseases.

 

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

Yields on gov’t debt end mostly higher

YIELDS on government securities (GS) mostly went up last week, tracking US Treasuries, as the market kept its defensive stance while waiting for the release of July Philippine inflation data.

GS yields, which move opposite to prices, went up by an average of 7.25 basis points (bps) week on week, according to the PHP Bloomberg Valuation Service Reference Rates as of Aug. 4 published on the Philippine Dealing System’s website.

Yields on the 91- and 364-day Treasury bills (T-bills) went up by 0.18 bp and 7.87 bps to 5.7015% and 6.1975%, respectively. On the other hand, the 182-day T-bill saw its rate drop by 1.13 bps to 5.9234%. 

Rates at the belly rose, with the two-, three-, four-, five-, and seven-year Treasury bonds (T-bonds) climbing by 4.46 bps (to 6.2513%), 4.8 bps (6.2931%), 5.51 bps (6.3221%), 6.89 bps (6.3494%), and 11.94 bps (6.4367%).

At the long end, yields on the 10-year paper surged by 20.71 bps to 6.5633%. The 20- and 25-year papers also climbed by 9.32 bps and 9.15 bps to 6.6977% and 6.6911%, respectively.

Total GS volume reached P10.77 billion on Friday, up from P9.52 billion on July 28.

The market tracked US Treasury yield movements ahead of the release of Philippine inflation data on Friday, a bond trader said in a Viber message.

Investors were defensive and “volume was relatively light, and most deals were suspected client requirements,” the trader said.

“On a normal day, market players would have celebrated the CPI (consumer price index) data which were better than expected. However, the increase in US Treasury yields may have pushed players on the sidelines and wait for US jobs data before deciding on next move,” the trader added.

Philippine headline inflation eased to 4.7% in July from 5.4% in June.

This was within the Bangko Sentral ng Pilipinas’ forecast range of 4.1%-4.9%. However, this remained above the target of 2-4%.

Meanwhile, bonds at the long end were affected by the US soft landing narrative, Fitch Ratings’ downgrade of the US’ credit rating, and the market “further digesting the implications of the recent move by the Bank of Japan towards a more flexible yield curve with higher yield tolerance,” Robinsons Bank Corp. Assistant Vice-President and Peso Fixed Income Trader Kevin S. Palma said in an e-mail.

“These factors did not bode well for local bonds, leading many market participants to remain defensive, especially in light of the sharp rise in long-end US Treasuries [last] week,” Mr. Palma said.

For this week, the market will track US Treasuries ahead of the release of the second- quarter gross domestic product (GDP) report on Thursday.

“Looking ahead, continued volatility is expected, particularly in anticipation of the release of Philippine second-quarter GDP data. Any movements in the local GS market will likely be highly contingent on the day-to-day performance of US Treasury yields,” Mr. Palma said. — Bernadette Therese M. Gadon with Reuters

Globe named most reliable network by Ookla in Q1-Q2

REUTERS

GLOBE Telecom, Inc. has been named as the most reliable mobile network in the first to second quarters by network testing company Ookla, it said in a statement.

“Globe’s supremacy in reliability, which only a few operators in the world achieve, reflects our relentless pursuit to improve our network and services to uplift the lives of Filipinos,” Globe President and Chief Executive Officer Ernest L. Cu said in a statement over the weekend.

“Our commitment to our customers goes beyond network quality; it’s about enhancing their lives through connectivity. We will continue to invest in our infrastructure to ensure that we live up to this title and provide even better services in the future,” he added.

Ookla’s report covering the first and second quarters showed that Globe had the highest consistency score of 83.64%. It also had the highest score in terms of most available all-technology mobile network at 92.63%.

To be named most reliable, Globe said an operator must achieve the highest scores in two key metrics: All Technology Consistency and All Technology Availability.

Its recent win is the fifth consecutive time Globe was named as the most reliable network since the second quarter of 2022 when it had a 79.44% consistency score and an all-technology mobile network availability score of 93.11%.

In the fourth quarter of 2022, Globe continued its momentum with a consistency score of 83.13% and an availability score of 92.38%.

“Globe’s victory in reliability underscores the brand’s ongoing dedication to delivering top-notch service, fortifying its position as the foremost mobile network in the Philippines,” the company said. — J.I.D. Tabile

Shell Advance, Ducati PHL back Access Plus Racing’s Superbike campaign

Access Plus Racing riders TJ Alberto and Lawrence Macalinao aboard their Ducati Panigale V4 motorcycles with (from left) Shell Mobility Lubricants Category Manager Shannen Lee, Ducati Philippines President and CEO Toti Alberto, Shell Lubricants Philippines Vice-President Jackie Famorca, Shell Lubricants Philippines Marketing and Business Development Manager Leo Mendoza, and Shell Advance Brand Manager Chi Malabanan. — PHOTO FROM SHELL ADVANCE

SHELL ADVANCE and Ducati Philippines have teamed up to support the Access Plus Racing Team in the ongoing Philippine Superbike Championship (PSBK). Led by Timothy Joseph “TJ” Alberto, who is poised for a hat trick, alongside Lawrence Macalinao, the team is building on its top-spot sweeps in the Pro and Expert categories during the third round of the PSBK 2023 series.

Shell Advance and Ducati have a long history of collaboration, with over 150 race wins combined in premier global motorcycle championships MotoGP and World Superbike. This partnership brings together decades of experience and innovation and has led to the development of high-performance oil formulations, including the technologically advanced Shell Advance Ultra 15w50. This oil meets the high-performance requirements of Ducati motorcycles, and is essential for ensuring longevity, horsepower, and the ability to withstand the elements in the challenging climate of the Philippines, where temperatures can reach 40 degrees Centigrade.

“This iconic global partnership has run for over 20 years now, and we are ecstatic to see it fully materialized here in the Philippines through the Ducati Access Plus Racing team. We are in full support of their quest for three-peat victory this year,” said Shell Advance Brand Manager Chi Malabanan.

Shell Advance fully synthetic range is the only oil being used and recommended by Ducati for performance and protection. With its patented Pureplus Technology, the product’s proven and tested technical claims ensure that Ducati motorbikes on the track are protected against extreme temperature up to 175 degrees, additional horsepower at 355.9kph, and more fuel-efficient for longer at 17,000rpm.

“Ducati Philippines is driven by a profound commitment to nurture Philippine motorsports from its very roots,” said Ducati Philippines President and CEO Toti Alberto. “Through dedicated grassroots programs, we aim to empower and educate young riders, imparting the vast racing knowledge we’ve gathered from our global exploits. Filipino motorsports fans can look forward to a more exciting competition in the PSBK and with the support of Shell, expect to see more up-and-coming young racing talents and more red bikes on the podium.”

As the championship event progresses through its 12-round series, all eyes are on Access Plus Racing as it aims for another victory. “I’m so excited to be racing for Access Plus this season especially with the support of Shell and Ducati. These are two of the most successful brands in motorsport, and their partnership is a dream come true for any racer. Every component counts to achieve maximum performance and results, including motor oil. Our team is eager and optimistic as we strive to improve our overall stats throughout this season,” said TJ Alberto.

Echoing Mr. Alberto’s sentiments, Lawrence Macalinao is in high spirits and eagerly anticipates a much-improved performance as he strives to clinch victory in the Expert Class title. He emphasized that the shared passion for high-performance racing between Shell Advance and Ducati Philippines gives him “the confidence of having a strong support group and ensures that my machinery always performs at its best.”

Major effort ongoing to contain Panama disease in banana crop

REUTERS

THE Bureau of Plant Industry (BPI) said that it is ramping up its efforts to contain Fusarium wilt, also known as Panama disease, in the banana industry.

“We’re really focusing on the best management because it doesn’t matter how will we produce if lose to pests and diseases,” BPI Director Gerald Glenn F. Panganiban told reporters last week.

Fusarium wilt is a soil-borne fungal disease that blocks the banana plant’s vascular system and deprives it of minerals, nutrients, and moisture. Affected plants turn yellow and die.

The Tropical Race 4 (TR4) strain was first detected in Davao City in 2009 and continues to threaten the Cavendish banana, the main export variety.

“We are partnered with the Philippine Space Agency to initiate a project that will allow us to really know the scope of damage,” he said.

In its banana market review, the Food and Agriculture Organization (FAO) of the United Nations said that the Philippines exported 2.24 million metric tons in 2022, down 6.21%.

The Philippines is the second top banana exporter next to Ecuador.

“The main exporter from the region continues to be the Philippines, which supplies some 60% of Asian banana shipments on average but has seen production severely affected by the spread of TR4 in the country as well as the high costs of inputs and fertilizer,” the FAO said. — Sheldeen Joy Talavera

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