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Arts&Culture (04/12/23)

Tejido Jomike’s The Makers Space

Ang INK showcases At Home at UP Fine Arts Gallery

ANG ILUSTRADOR ng Kabataan (Ang INK), the organization of illustrators for children, opens its annual exhibit titled “At Home” on April 13 at Parola: UP Fine Arts Gallery in Quezon City. The opening reception will be held on Saturday, April 15 and will be open to the public. Featuring 60 house-shaped art pieces in various digital and traditional media, the exhibit presents a behind-the-scenes look at the home life of Ang INK members. The collection also showcases various interpretations of what “home” means to the members or what “home” could be like. Among the works are Viel Vidal’s Safe Safe Space Space, which spotlights a figure who appears to be dreaming while reclining comfortably with closed eyes. Mickey Velarde’s Shelter depicts several dogs of various breeds at play indoors. Clingy by May Tobias-Papa zooms in on a child enfolded by kisses of his parents. Other participants are Jomike Tejido, Angela Taguiang, Tinay Sison, Kim Santiago, Benedict Reyna, Rex Aguilar, Ian Reverente, Liz Ranola, and Patricia Ramos, among others. Held in conjunction with the exhibit will be a series of panel discussions and a mini art fair offering books, artworks and craft products produced by the members. The art fair will take place on April 15, noon, together with a panel discussion 1 p.m. on “What makes a good picture book?” Moderated by Zeus Bascon, the discussion features publisher Frances Ng, librarian and storyteller Zarah Gagatiga Adman, children’s book author and comics creator Russell Molina, and illustrator Fran Alvarez. The panel discussion on “The Artist as Storyteller: How Illustrations Shape Stories” is set for noon on April 18. Moderated by Liza Flores and Rommel Joson, the discussion features Ang Batang Papet illustrator Angela Taguiang, Tintin’s Birthday Party illustrator Marcus Nada, Tapak! Tapon! Tama! illustrator CJ Reynaldo, and Ang Unang Engkantada illustrator Jap Mikel. “Elsewhere: Philippine Children’s Illustration within the Global Landscape,” a panel discussion moderated by Isa Nazareno, will be held on April 29. The discussion features writer and reading advocate, Xi Zuq; writer and children’s storybook development specialist, Al Santos; and illustrator Bianca Lesaca. “At Home” runs until April 29. Parola gallery hours are Tuesdays to Fridays from 9 a.m. to 4 p.m. For more information about Ang INK, visit www.ang-ink.org or email hello@ang-ink.org.

New dance closes Ballet Philippines season

TO close this season, Ballet Philippines (BP) presents a debut performance: Carlo Calma’s Diyosa, a full-length contemporary ballet adaptation of Philippine mythology’s gods and goddesses alive in nature. This BP world premiere is a fantasy set in a dreamy, mythical world but rooted in strong Filipino culture and heritage and even a bit of Pinoy humor. It will fuse fashion, art, music, and architecture with dance. The ballet will be presented on April 14 to 16 at The Theatre at Solaire. Tickets are available at TicketWorld.

Free webinar tackles Moro resistance during WWII

A FREE webinar presented by the Ayala Foundation, Inc. and Filipinas Heritage Library as part of The Roderick Hall Memorial Lectures, “Unsung Heroes of Mindanao: The Moro Resistance Fighters of World War II” will be held on April 15, 10 a.m., online via Zoom and Facebook Live. Just weeks after the Japanese attacked Pearl Harbor, as General Douglas MacArthur’s forces evacuated Manila and withdrew to Bataan, Moro volunteers stopped the invasion of Mindanao. Armed only with swords and machetes, they bested Japanese assault troops in jungle warfare. What made the Moro guerilla resistance movement successful despite limited resources? Anthropologist Thomas McKenna, Ph.D. will discuss their heroic exploits during World War II. For inquiries, e-mail asklibrarian@filipinaslibrary.org.ph.

Silverlens opens Santi Bose exhibit

SILVERLENS will be presenting “Spirited Traces,” the third installment in the sequence of exhibitions on Santiago Bose conceived by Filipino art historian, curator, and critic Dr. Patrick Flores in 2019. As a conclusion to the series, “Spirited Traces” closely reads the artist’s form and language. It stems from the effort of the earlier initiations to stage, first, the impulse of the intelligence (Bare Necessities, 2019), and second, the sites that specified his endeavor (Striking Affinities, 2021). The exhibition opens April 20 and runs until May 20 at Silverlens Manila, 2263 Don Chino Roces Ave. Ext., Makati.

Imahica opens Kate Bautista exhibit

IMAHICA Art Gallery will open Kate Bautista’s solo exhibition, “Emotions All Over The Place” on April 15. The exhibit is suffused with themes of femininity, sensuality, and empowerment. It will be on view until May 6, at Imahica Art Gallery, 2A Lee Gardens, Lee Street, Wack-Wack, Mandaluyong City. Call 0917-894-5646, or 7622-4008 or email thegallery@Imahica.art for more details.

CCP Performatura goes online and offsite

WITH the mission to reach out to a wider audience, the Cultural Center of the Philippines (CCP) Performatura Festival 2023 will go beyond the complex and hold events online and offsite in various venues. The Flips Flippin’ Pages Book Club, in partnership with Milflores Publishing, will hold an online book discussion on The Reddest Rose Unfolds, a comic book by Swedish artist and writer Liv Stromquist, slated on April 15, 2 p.m., via Zoom. To join and listen to the discussion, e-mail: info@milflorespublishing.com. Pinoy Reads Pinoy Books (PRPB) Book Club honors and celebrates the life of Lualhati Bautista with a discussion on her self-published book Sixty in the City on April 22, 1 p.m., at the Holy Cross Memorial Park, Novaliches, Quezon City. The event is free and open to the public. Get in touch with the PRPB Book Club through their Facebook page. The Caloocan Historical and Cultural Studies Association, Inc. will hold the second installment of the Caloocan Writers Workshop on April 22 to 23 online. Workshop director is Mark Angeles, the author of short story collection Gagambeks at Iba Pang Kuwentongs Waratpad and collection Ang Huling Emotero. For further details, visit the Caloocan Historical and Cultural Studies Association, Inc. Facebook page. “Poesia,” a poetry reading, will be held on April 26, 3 p.m., at the Zaguan of Museo de La Salle in Dasmariñas, Cavite. The activity aims to promote the museum as a space for people’s creativity and self-expression. Featured poems are from the 41st issue of the CCP literary journal Ani. Those who are interested, donating a book is an option to get in any CCP Performatura remote events. Collected books will be donated to CCP’s partner libraries. For inquiries, e-mail the ccpintertextualdivision@gmail.com, call 8832-1125 local 1706 or 0919-3175708.

Gov’t partially awards Treasury bills at higher rates

BW FILE PHOTO

THE GOVERNMENT made a partial award of the Treasury bills (T-bills) it auctioned off on Tuesday as investors wanted higher yields at par with benchmark borrowing costs.

The Bureau of the Treasury (BTr) raised just P13.9 billion from its offer of T-bills on Tuesday, below the P15-billion program, with total bids reaching P21.609 billion.

Broken down, the Treasury borrowed just P4.6 billion from the 91-day T-bills, below the P5-billion plan, despite tenders for the tenor reaching P6.744 billion. The average rate of the three-month paper rose by 26.9 basis points (bps) to 5.314% from the 5.045% seen at last week’s auction, with the accepted rates ranging from 5.05% to 5.5%.

The BTr likewise raised just P4.3 billion via the 182-day debt papers, lower than the P5-billion program, with bids at P8.578 billion. The average rate of the six-month T-bill went up by 2.6 bps to 5.7% from 5.674% last week. Accepted yields were from 5.673% to 5.75%.

Meanwhile, the government made a full P5-billion award of the 364-day securities as demand for the tenor stood at P9.287 billion. The one-year paper was awarded at an average rate of 5.991%, inching up by 1.4 bp from 5.977% the previous week, with accepted rates ranging from 5.95% to 6%.

At the secondary market on Tuesday, the 91-, 182-, and 364-day T-bills were quoted at 5.1479%, 5.6411%, and 5.9944%, respectively, based on PHP Bloomberg Valuation Service Reference Rates data provided by the BTr.

“Results were mixed in today’s Treasury bill auction as the Auction Committee decided to fully award bids for the 364-day T-bills while partially awarding the 91- and 182-day securities. The 364-day T-bills fetched an average of 5.991%, while the 91- and 182-day T-bill rates were capped at 5.314% and 5.7%, respectively,” the BTr said in a statement on Tuesday.

“The auction was 1.6 times oversubscribed, with total bids reaching P24.6 billion. With its decision, the committee raised P13.9 billion of the P15 billion offering,” it added.

The government made a partial award of its T-bill offer as the market wanted higher returns, a trader said in a Viber message.

“Investors are simply demanding higher rates because the overnight rate is at 6.25%, while these papers are longer but are yielding way below the policy rate,” the trader said.

The trader noted that the average rate of the one-year T-bill is already higher than the 5.883% average fetched for the reissued seven-year Treasury bonds (T-bonds) offered last week, as well as the 5.9283% quoted for the five-year bond at the secondary market as of April 5.

The Bangko Sentral ng Pilipinas (BSP) last month hiked benchmark interest rates by 25 bps to help bring down elevated inflation.

This brought the yield on its overnight reverse repurchase facility or its key rate to 6.25%.

Interest rates on the overnight deposit and lending facilities were also hiked by 25 bps to 5.75% and 6.75%, respectively.

Since May 2022, the central bank raised borrowing costs by a total of 425 bps.

The Monetary Board’s next meeting will be on May 18.

T-bill rates rose due to bets of a 25-bp hike by the US Federal Reserve in its May 2-3 meeting, which could be matched by the BSP in its own review next month, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

The Fed last month raised its target interest rate by 25 bps to the 4.75%-5% range.

It has hiked rates by 475 bps since March 2022.

On Wednesday, the BTr will offer P25 billion in reissued 10-year T-bonds that have a remaining life of nine years and five months.

The Treasury wants to raise P160 billion from the domestic market this month, or P60 billion via T-bills and P100 billion via T-bonds.

The government borrows from local and external sources to help fund its budget deficit, which is capped at 6.1% of gross domestic product this year. — A.M.C. Sy

MREIT, Inc. to hold annual stockholders’ meeting virtually on June 2

 

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Globe Telecom appeals for SIM registration extension

PHILIPPINE STAR/EDD GUMBAN

GLOBE Telecom, Inc. is appealing for an extension of the subscriber identity module (SIM) registration to give subscribers more time to obtain necessary government IDs, according to a company official.

“We have seen a low registration count primarily due to the lack of valid government IDs, and challenged digital literacy,” Globe Chief Sustainability and Corporate Communications Officer Maria Yolanda C. Crisanto said in an e-mailed statement on Tuesday.

“Given these issues, we appeal to the government to extend the SIM registration process to give our customers more time to get their required government IDs and input the required information on our site,” she added.
As of 2 p.m. of April 11, Globe has recorded 27.85 million mobile customers in its registration, equivalent to 32% of its total mobile subscriber base.
“With just two weeks to go before the April 26 deadline, we have yet to touch at least 50% of total registrations — other telcos similarly situated based on the latest available data,” said Ms. Crisanto.

Ms. Crisanto also appealed for the government’s backing on alternative forms of identifications, conditional registration, and creation of always-on government handled assisted registration.

Under these requests, company and school IDs and barangay certificates will be accepted as a form of identification for those who do not have valid government-issued IDs, while the conditional registration will allow individuals to continue to use network services within a reasonable period while they work to get a valid ID.

“Globe is working closely with the National Telecommunications Commission, relevant government agencies and other stakeholders in ensuring that we register as many subscribers as possible before the April 26 deadline,” Ms. Crisanto said.

At the same time, Globe announced the deployment of 180 SIM registration booths across 72 provinces.

The assistance desks are said to help those subscribers who are using basic phones or phones limited to call and text capability as SIM registration is done online.

Meanwhile, PLDT, Inc.’s wireless unit Smart Communications, Inc. said it saw a surge in SIM registration during the Lenten break.

“Over the past nine days, we have seen a surge in registrations, averaging 400,000 daily, from the usual 200,000 to 300,000 in previous months,” said Catherine Y. Yang, first vice-president and group head of PLDT and Smart.

“This to us reveals there are a lot of last-minute registrations taking place, so we are hopeful we’d get to stay on this increasing trend as the deadline nears,” she added.

In the data provided by the Department of Information and Communications Technology, the total number of SIMs registered as of April 10 is at 65.15 million this is 38.79% of the total 168.98 million subscribers nationwide.

This shows a 13.94% increase from the 57.18 million registered SIMs as of April 2, or before the start of the Holy Week.

Of the total registered SIMs, 32.48 million are from Smart, 27.83 million from Globe, and 4.89 million from DITO Telecommunity Corp.

Republic Act 11934 or the SIM Registration Act requires all SIM users to register their SIMs under their name until April 26, or risk SIM deactivation.

The law aims to help mitigate the proliferation of text scams and other mobile phone-aided criminal activities. — Justine Irish D. Tabile

Philippine merchandise trade

THE Philippines’ trade deficit in goods narrowed in February to the smallest in three months, as imports and exports slumped to their lowest levels in over two years. Read the full story.

Philippine Merchandise Trade

Stranger Things animated series coming to Netflix

LOS ANGELES — An animated series set in the sci-fi world of Stranger Things is in development at Netflix, part of the streaming service’s efforts to expand the hit series into a wide-ranging franchise.

Netflix announced the series in a statement released on Monday but gave no title or release date and few details.

“We’ve always dreamed of an animated Stranger Things in the vein of the Saturday morning cartoons that we grew up loving,” the Duffer brothers, creators of the original Stranger Things series, said in the statement.

Stranger Things debuted on Netflix in 2016 and became the company’s most-watched English language series. The show tells the story of a group of teenagers battling unusual happenings in the fictional town of Hawkins, Indiana.

Netflix had previously announced that a Stranger Things spinoff show was in the works and a play that will debut at London’s West End in November. — Reuters

Rediscount facility left untouched

BW FILE PHOTO

LENDERS did not tap the Bangko Sentral ng Pilipinas’ (BSP) rediscount facility in March as they had enough liquidity to fund their loans.

“There were no availments on the rediscounting lines of banks with the BSP under the Peso Rediscount Facility and Exporters’ Dollar and Yen Rediscount Facility (EDYRF) for the period covering 01 January to 31 March 2023,” the BSP said in a statement on Tuesday.

Lenders likewise left the facility untapped in the same period in 2022. Last year, the rediscount window only saw availments in April, June and October, with cumulative borrowings amounting to P15.3 billion.

The last time the EDYRF was tapped was for a dollar rediscounting loan in 2016.

The central bank’s rediscount window gives banks access to additional money supply by posting their collectibles from clients as collateral.

Banks can use the cash, which could be in peso, dollar, or yen, to lend to their corporate or retail clients and service unexpected withdrawals.

Lenders did not tap the BSP’s rediscount windows amid improved profitability, asset quality, and capitalization, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

“This is largely due to improved economic conditions with the further reopening of the economy that led to more employment, sales, earnings that all increase the ability of borrowers to pay their loans, thereby leading to lower NPL (non-performing loan) ratio to among the lowest in more than two years and improved the asset quality of banks,” Mr. Ricafort said.

“Banks also have other sources of funding such as interbank borrowings, deposits, and other fund-raising activities in the capital markets such as through the bond market, money market, and equity market, thereby reducing the need to tap the said rediscounting facilities. Ample liquidity in the financial system also reduced the need for banks to tap the said rediscounting facilities,” he added.

Outstanding loans of big banks grew by 10% to P10.69 trillion at end-February from P9.72 trillion a year earlier, data from the central bank showed.

Meanwhile, domestic liquidity expanded by 6% year on year to P16.1 trillion as of February, faster than the revised 5.6% rise in January.

On the other hand, the banking industry’s NPL ratio went up to 3.28% in January from the 3.16% in the month earlier. This was the highest since the 3.35% seen in November last year.

Data from the BSP showed that bad loans reached P405.138 billion in January, up by 1.6% from P398.79 billion in December 2022. This was 12.2% lower than P461.66 billion a year earlier.

APRIL RATES
For April, the applicable rate for peso rediscount loans will be at 7.867% for those maturing in 90 days, and at 8.484% for those falling due in 91 to 180 days.

Meanwhile, dollar borrowings will be priced at 7.4149% regardless of maturity.

Yen-dominated borrowings will be priced at 2.08636% (1-90 days), 2.11% (91-180 days), and 2.15474% (181-360 days). — Luisa Maria Jacinta C. Jocson

Healthy diet could boost mental health, say experts

HERMES RIVERA-UNSPLASH

By Patricia B. Mirasol, Reporter

MORE AWARENESS about the connection between the brain and gut can help decrease the number of Filipinos experiencing mental health concerns, including anxiety, according to health experts.

One’s gut health and mental health go together, said Beverly T. Ongson, a certified professional life coach and registered psychologist from Dear Future Self PH, a provider of mental health services.

“When we think or worry excessively, our stomach works double time to do its job, which is to release acid to supposedly break down food,” she said in an e-mail. “This ‘false alarm’ can cause ulcer, heart burn or acid reflux.”

Research has found that irritation in the gastrointestinal system may send signals to the central nervous system that trigger mood changes.

A 2021 Clinical Psychology Review study also found that people with anxiety and depression are more likely to have bacteria in their digestive tracts that promote inflammation.

“As our patients adjusted their nutrition, their acidity eased, thus lessening one of the causes of their anxiety,” Ms. Ongson said. “At the same time, as we addressed their anxiety, their gut health became healthier.”

“I have patients who have had problems with their moods,” said Dexter M. Macalintal, a registered nutritionist and lifestyle physician. “With proper food along with some medications given by their psychiatrists, their mental state improved.”

The pandemic triggered a 25% increase in anxiety and depression worldwide, the World Health Organization said in March 2022.

In the Philippines, about 3.6 million Filipinos battle mental health issues. Close to one of five Filipinos aged 15 to 24 have considered suicide, a 2021 study by the University of the Philippines Population Institute found.

Mr. Macalintal described human bodies as a well-oiled factory with different departments working harmoniously.

The nutrients found in food are raw materials that allow our bodies to create energy, he told BusinessWorld in a separate e-mail. “In the process, we produce waste and eliminate them properly if our systems are in homeostasis or in a state of equilibrium.”

“What we eat can affect the way we think,” he said. “If we eat properly, we will have a steady source of raw materials needed to produce a balanced level of hormones and neurotransmitters that will keep a healthy mental state.”

Processed foods do not promote mental wellness, Mr. Macalintal said.

Ms. Ongson said people with anxiety and acidity problems should avoid certain types of food, including caffeine, refined white sugar and alcohol.

“If you want to drink coffee, you can choose the alkaline ones or decaf, or just a cup in the morning,” she said. “For tea — including milk tea — go with decaf.”

 

FOOD that can lower your anxiety level

• Niacin – chicken, turkey, wheat

• Thiamin – oats, pork, asparagus

• Riboflavin – milk, yogurt, pork

• Vitamin B-6 – bananas, mangoes, sweet potatoes

• Vitamin B-12 – beef, yogurt, tuna

• Biotin – eggs, cheese, peanuts

• Pantothenic acid – yogurt, avocados, salmon

• Folic acid – turkey, oranges, peas

• Calcium – milk, yogurt, broccoli

• Magnesium – spinach, almonds, sunflower seeds

• Omega-3 fatty acids – walnuts, sardines, soybeans

• Complex carbohydrates – whole-grain bread, whole-grain pasta, brown rice

Source: Dear Future Self (DFS) Consulting PH

Navegar eyeing ‘major investments’ in PHL businesses

PRIVATE equity firm Navegar plans to invest in “fast-growing” businesses in the Philippines over the next two years, the company announced on Tuesday.

“Beyond investing capital, our aim is to equip our companies along their unique journeys, providing resources and guidance to overcome challenges of all sizes,” Navegar Co-Founder and Managing Partner Javier Infante said in an e-mailed statement.

The company plans to ramp up its investments in businesses, as it “remains optimistic on the country’s post pandemic recovery” despite concerns on the economy.

Navegar said that it can provide funding and financial advice, as it had noticed a spike in companies seeking strategic partnerships in the country.

“With stable capital and strengthened balance sheets, businesses can capitalize on valuable growth opportunities, positioning themselves for success well into the future,” Navegar Co-Founder & Managing Partner Nori Poblador said.

“The Philippines holds enormous potential, and we stand ready to invest in and support more exceptional companies moving our country forward,” Mr. Poblador added.

Navegar previously made an investment in e-commerce enabler Great Deals E-commerce Corp. on its resource planning and the establishment of its financial systems, which allowed multiple physical stores to transition to the platform.

It also assisted cloud-based outsourcing company Cloudstaff Modern Workforce in its expansion plans and remote working solutions.

“As the company grew, so did its Filipino workforce,” the company said.

The company currently manages about $300 million worth of assets, which include TaskUs, Intellicare, The Bistro Group, Royale Cold Storage, Great Deals E-commerce Corp., and Dali Discount AG. — Adrian H. Halili

Philippine labor force situation

THE country’s unemployment rate held steady at 4.8% in February while job quality improved, the Philippine Statistics Authority (PSA) reported on Tuesday. Read the full story.

Philippine Labor Force Situation

Kim Kardashian to star in new season of American Horror Story

LOS ANGELES — Reality television star Kim Kardashian will turn to acting in an upcoming season of FX network’s anthology series American Horror Story, co-creator Ryan Murphy said on Monday.

Ms. Kardashian will co-star with Emma Roberts in the show’s upcoming 12th season, which is based on a forthcoming book called Delicate Condition.

The novel, due for release in August, is described in online advertisements as a “thriller that follows a woman convinced a sinister figure is going to great lengths to make sure her pregnancy never happens.”

Author Andrea Bartz calls it a “feminist update to Rosemary’s Baby.”

Mr. Murphy said in a statement that American Horror Story writer Halley Feiffer had crafted “a fun, stylish and ultimately terrifying role especially for Kim, and this season is ambitious and unlike anything we have ever done.”

The Hollywood Reporter first reported the news.

Ms. Kardashian became a pop culture phenomenon during 14 years with her sisters on reality show Keeping Up with the Kardashians, which ended in 2021. The extended Kardashian family now appears on The Kardashians on Hulu. — Reuters

Security Bank partners with MCP to offer loan products to seafarers

SECURITY BANK/BW FILE PHOTO

SECURITY BANK Corp. (Security Bank) has partnered with electronic money provider MarCoPay, Inc. (MCP) to offer loan products to seafarers and their families, it said on Tuesday.

The bank aims “to provide seafarers and their families with preferential rates for auto and home Loan offerings” through the partnership, it said in a statement.

“We are pleased to partner with MCP to be able to offer our Filipino seafarers with greater options and flexibility when it comes to getting a car or home for them and their loved ones in the Philippines. Through MCP’s strategic partnership with MUFG (Mitsubishi UFJ Financial Group, Inc.), we have been able to offer our products to their users through the MUFG connection,” Security Bank Retail Product Group Head Rahul Rasal said.

Filipino seafarers can use the MarCoPay app, which is available on the Apple App Store and the Google Play Store, to avail of Security Bank’s auto loans with a 5.27% add-on interest rate, as well as its home loans with a 6.25% interest rate per annum.

The MCP app is an e-wallet platform developed and maintained by MarCoPay for seafarers. It is licensed by the Bangko Sentral ng Pilipinas as an e-money issuer.

“We at MarCoPay are very excited to offer these loan deals to our customers. Through the help of Security Bank, we can greatly contribute to the dreams of Filipino seafarers to buy their dream house or get the car they want without all the hassle,” MarCoPay President Toshiaki Fujioka was quoted as saying.

MarCoPay is owned by NYK Line, Japan’s largest shipping company, through a joint venture with Transnational Diversified Group of the Philippines. MUFG is an investor in the company.

Security Bank’s partnership with MUFG dates back to 2016, when the Japanese bank bought a 20% stake in the local lender.

The listed bank saw its net income increase by 53% to P10.6 billion in 2022, driven by the growth of its core businesses.

Security Bank’s shares fell by 65 centavos or 0.69% to close at P92.95 each on Tuesday. — A.M.C. Sy

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