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Group ONE Holdings, Media City Qatar announce global partnership

DOHA, Qatar — On Friday at the Qatar Economic Forum, powered by Bloomberg, Group ONE Holdings (ONE) and Media City Qatar signed a Memorandum of Understanding to develop a strategic long-term partnership, collaborating in the production and development of a wide range of global content in Qatar across multiple media sectors, including original programming, studio shows, and esports, that will strengthen Qatar’s growing media ecosystem.

The partnership will commence by showcasing Qatar in the filming of Season 2 of the popular Netflix series The Apprentice: ONE Championship Edition.

ONE and Media City are also in discussions to develop and produce live sports programming, including studio shows that will enhance Qatar’s production capabilities while attracting world-class media companies and talent to the country. Leveraging Qatar’s strong infrastructure and global connectivity, ONE and Media City plan to create an esports hub for developers and other key stakeholders across the gaming ecosystem.

Lifting restrictions on air travel

CHICAGO, USA — Two years of isolation in the so-called bubble were quite tortuous for many of us who love to travel. But as I was preparing for my first overseas trip in the pandemic era, a welcome piece of news made my day.

The US Center for Disease Control and Prevention (CDC) suddenly announced late last month that international air travels need not show proof of negative COVID-19 test results prior to boarding a flight to America effective June 12, 2022. CDC believes that the pandemic has now shifted to a new phase due to the widespread uptake of vaccines.

This comes amid pressure from the airline industry, which viewed the measures as highly excessive and thus resulted in the plummeting of plane ticket purchases. In a recent Bloomberg interview, Johns Hopkins University biosecurity expert Eric Toner said the testing requirement for international travel was not evident-based or logical, and most countries have abandoned that approach.

However, Toner recommended that masks should still be worn especially when flying to reduce the chances of viral spread. Easier said than done, though, as many of my co-passengers in three connecting flights to the “Windy City” were maskless.

Here in the Midwest, it’s back to pre-pandemic practices with the majority of Americans not using face masks in public places such as trains, malls, and commercial buildings. Will it take another surge or a stealthier variant to make everyone realize that the pandemic is not over yet?

END OF AN ERA
Back home, today is the last operating day of the Philippine Stock Exchange (PSE) trading floor – signaling a new era of floorless trading for the local equities market. The PSE’s sentimental announcement also heralded the end of traditional trading in Southeast Asia’s oldest stock market.

It may be recalled that the Philippines’ first automated trading platform was built by Filipino-Japanese venture iWave, Inc. in 1993 at the PSE’s Tektite floor. Since then, iWave has become a financial industry leader in the development and management of proprietary technology products for banks and other financial institutions that process high-volume secure transactions. It is both a subsidiary and technology arm of PSE-listed DFNN, Inc.

Up to today, the country’s largest online stock brokerage firms use iWave’s tech components – the latest of which is the Next-Wave Interactive Broker Platforms and Systems, a comprehensive digital stock trading platform that is app-driven with complete back office, customer relationship, digital marketing, and secure identity solutions allowing PSE’s trading participants and retail investors to maximize stock market activities via an end-to-end integrated system.

Next-Wave was developed in collaboration with DFNN’s long-time tech partner DirectFN, which is present in around 20 countries and specializes in fast and accurate trading solutions as well as stock exchange information for institutions on a subscription basis. The retail channel of the trading platform is designed to leverage the largely untapped young professionals and first-time investors who are starting to learn the intricacies of the stock market.

More importantly, iWave envisions Next-Wave to expand online trading and make market participation inclusive, thereby accelerating the growth of the Philippines’ capital markets.

The opinion expressed herein does not necessarily reflect the views of these institutions and BusinessWorld.

 

J. Albert Gamboa is the chief finance officer of Asian Center for Legal Excellence and chairman of the FINEX Media Affairs Committee.  #FinexPhils www.finex.org.ph

Entertainment News (06/24/22)

I-Witness wins award in environmental film fest

DURING the COVID-19 surge of 2021, Howie Severino’s I-Witness team produced and released a documentary entitled Mask Land. The documentary went on to receive a Silver Green Award in the Health and Living Environment category at the Deauville Green Awards in France. As program host and writer, Mr. Severino went to Deauville, France to receive the documentary’s silver trophy on behalf of GMA Network and I-Witness. The Deauville Green Awards is an international film festival that honors the best environmental reporting. Among the 100 finalists from 500 entries around the globe, Mask Land shed light on the problem of ocean pollution due to single-use items such as plastics and medical masks.

James Reid marks new single with custom highball

SINGER/ACTOR James Reid has just released a custom cocktail in collaboration with Johnnie Walker to accompany his new single, “California Lovin’,” which will drop before July. The Johnnie California Highball will be available to purchase at all Notorious Concepts establishments in Poblacion, Makati this month. The cocktail was released just in time for World Music Day on June 21. The performance video of “California Lovin’” first premiered on the Press Play platform of The Grammy’s on May 26. On June 30, the song will be available on all major streaming platforms.

Part 2 of Stranger Things’s 4th season out on July 1

THE FOURTH season of the horror drama series Stranger Things is set to conclude with its last two episodes, which will be released on July 1 on Netflix. In this season, the show’s main cast is split up for the first time, and a gruesome mystery is presented before them which may potentially put an end to the horrors of the Upside Down.

Gary V premieres music video for pro-MSME song

OPM icon Gary Valenciano has come out with a music video for his new single entitled “Pwede Pang Mangarap.” The track, released by Universal Records, aims to empower micro, small and medium enterprises (MSMEs) to overcome the struggles of the pandemic in order to revitalize the economy and their lives. The video for the song features Valenciano and his son Gabriel, who directed the video under Manila Genesis Entertainment and Management, Inc. and GV Productions, Inc. “Pwede Pang Mangarap” is out now worldwide, and can be streamed on Spotify, Apple Music, and Youtube.

Ben&Ben releases new rock anthem

NINE-PIECE Filipino folk-pop group Ben&Ben released a new single under Sony Music Philippines, entitled “Langyang Pag-ibig.” The track was recorded at Spryta Studios, produced by Ben&Ben and Jean Paul Verona, mixed by Sam Marquez and Verona, and mastered by Leon Zervos. The song is out now on all streaming platforms worldwide via Sony Music Philippines.

Hamish Hawk returns with new single

EDINBURGH’s Hamish Hawk returns today with “Angel Numbers,” his first new material since 2021’s breakthrough album Heavy Elevator. The Scottish band is expected to release more new material later in the year.

Icona Pop collaborates with Ultra Naté for new single

GLOBAL chart-topping duo Icona Pop collaborated with singer, songwriter, DJ, and producer Ultra Naté for a brand-new track titled “You’re Free.” The single pays homage to Ultra Naté’s 1997 Billboard’s Dance Club Songs Chart #1 hit, “Free.”

Signs you’re dealing with an unprincipled employer

I’m a fresh college graduate looking for a job with reasonable pay and perks. After two months of applying, I received an offer from a small company. I’m delaying acceptance because of negative feedback from some friends who want to resign from that company. Please help me to decide. — Morning Dew.

Job hunting is a lonely and a frustrating process. That explains your interest in accepting an offer that looks attractive at first glance. You were forewarned by your friends. Don’t ignore them. Instead, focus on major companies that provide you stability, overall satisfaction and long-term career prospects.

Small businesses don’t have the capacity to pay good money and benefits, unlike major companies that are interested in maintaining a loyal and highly-motivated workforce. Many of these small companies have a faulty recruitment process and management policies that could victimize fresh graduates.

Therefore, aim high. The higher, the better. Choose only major companies that will train you properly in the first few years while giving you reasonable pay and benefits.

Give yourself more time — a few more months to apply for a job at those big companies. Even if they don’t accept you, their stringent hiring process could give you sufficient confidence to pass the scrutiny of other employers.

TEN RED FLAGS
You didn’t explain the negative feedback given by your friends. But I know a lot of these unprincipled employers. Usually, they’re small businesses that will not hesitate to do the following:

One, their workforce consists of at least 20% temps. The worst employers have about 50-90% contractual employees supplied by manpower agencies and cooperatives. These workers are assigned to jobs that are defined by the Labor Code as “necessary and desirable” and therefore, should be considered regular jobs.

Two, they have at least a 20% attrition rate. Many of their regular workers resign because of toxic management style, inadequate compensation, and poor working conditions. One exception is the business processing outsourcing industry, where workers are worn down by unconventional hours and handling angry customers.

Three, they rely on verbal employment agreements. There’s no contract or pay slips. Even if there is a contract, they don’t give out copies to workers. They also pay online. This raises the likelihood that the employer is unprincipled enough not to pay statutory benefits or delay paying them.

Four, they bribe labor inspectors and government officials. It’s difficult to prove this. But the perception is strong around the industry. The only visible evidence is little improvement after inspections. Also, unprincipled employers are confident enough to challenge complainants to bring the matter to court, secure in the knowledge that such people can’t afford protracted litigation.

Five, they have at least five pending labor and civil cases. Many unprincipled employers are often brought to court even for minor issues like the non-payment of terminal benefits of resigned workers and the delayed issuance of the employment certificate and clearance. If they can commit minor offenses like these, what more with bigger issues?

Six, they don’t pay regular overtime (OT) premiums. They require people to act like team leaders or “supervisors” for an average of 10 hours a day and pay only a monthly allowance on top of their base pay, which when computed would be much lower than if overtime rates applied.

Seven, they require people to sign onerous “training” bonds. Unprincipled employers charge exorbitant “damages” to discourage workers from resigning. The bond is required even if there was no formal “training” was conducted. If any, such sessions were likely at no cost. One example is when speakers offer their services for free, such as financial literacy seminars conducted by those selling insurance.

Eight, they charge workers for uniforms and shoes. Also, unprincipled employers demand payment for personal protective equipment via salary deductions, in defiance of clear-cut rules against such practices. They’re doing it in the hope that workers fearing for their job security do not complain.

Nine, they dismiss probationary workers on their fifth month. Bad employers do this even in the absence of objective performance standards and evaluation. Also, they use pretexts like “bad attitude” to terminate employees.

Ten, they whitewash complaints against top executives. These cases may include sexual harassment and bribery of government officials. Likewise, they employ unprincipled lawyers to force complainants to accept cash settlements in exchange for dropping complaints, or resort to protracted litigation, which many workers can’t afford.

This list is not complete. Where there’s smoke, there’s fire. Let me repeat myself: Focus on applying for a job with major companies. Give yourself more time. If you’re committed to your success and are self-confident, you will realize that job hunting must not be done for the sake of job hunting.

 

Have a chat with Rey Elbo via Facebook, LinkedIn or Twitter or send your workplace questions to elbonomics@gmail.com or via https://reyelbo.consulting

Housing demand picks up in Q1 2022

RESIDENTIAL property prices increased by 5.6% in the first quarter, primarily due to higher costs of townhouses, duplex housing units, and condominium units. Read the full story.

Housing demand picks up in Q1 2022

Spectrum, Toyota switch on solar rooftop project in Laguna plant

MSPECTRUM, Inc. and Toyota Motors Philippines Corp. (TMP) have energized a 460-kilowatt-peak (kWp) solar rooftop installation at the car manufacturer’s plant in Sta. Rosa, Laguna.

In a statement on Thursday, solar power firm MSpectrum, also known as Spectrum, said the solar project is an expansion of TMP’s 1-megawatt (MW) facility.

Spectrum, a wholly-owned subsidiary of electricity distributor Manila Electric Co. (Meralco), also installed the car maker’s existing solar power source in December 2018.

“The expansion project is expected to generate approximately 625,700 kWh (kilowatt-hour) of clean energy per year, translating to an estimated annual savings in energy costs amounting to P3.5 million,” the solar company said.

It is also seen to result in a reduction of about 446 metric tons of carbon emission, equivalent to more than 45,000 trees planted or 1,775,148 kilometers less in vehicle travel per year.

“I am extremely proud of the work that the TMP Solar Project Team, Meralco, and Spectrum have been doing for several months to complete this expansion project and achieve full operation. For TMP, I am confident to say that Plant Carbon Neutrality by 2035 is possible,” TMP President Atsuhiro Okamoto said.

The new solar facility further speeds up TMP’s sustainability journey as it supplements its earlier solar project that has generated about 4,753,561.58 kWh of clean energy since its commercial operations.

Thus far, the company has saved around P31.6 million in energy costs and lessen its carbon footprint by 3,385 metric tons.

“Through stronger collaboration within the Toyota network, we will continue to work hand-in-hand with our stakeholders to achieve Plant Carbon Neutrality and our Toyota Environmental Challenge (TEC) 2050 targets. Our global vision may be ambitious, but we will continue to challenge ourselves to ‘move our world’ by creating a net positive impact and a more sustainable society for future generations,” Mr. Okamoto said.

Patrick Henry T. Panlilio, Spectrum’s chief operations officer, said: “We have been in partnership with Toyota since 2018 and now, we are celebrating a huge milestone with the expansion of their original solar array. With this, the clean energy that TMP will generate will increase by approximately 16% per annum.”

Renewable energy company Spectrum has been providing services and solutions to help its clients cut costs while doing good for the planet.

TMP is the largest automotive company in the country.

ACE Malolos Doctors announces schedule of hybrid stockholders’ meeting on July 18


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How PSEi member stocks performed — June 23, 2022

Here’s a quick glance at how PSEi stocks fared on Thursday, June 23, 2022.


PHL stocks decline ahead of BSP policy decision

BW FILE PHOTO

PHILIPPINE SHARES fell on Thursday as investors awaited the central bank’s policy decision announced after the market closed.

The bellwether Philippine Stock Exchange index (PSEi) retreated by 102.77 points or 1.66% to end at 6,065.23 on Thursday while the broader all shares index fell 43.62 points or 1.31% to 3,284.73.

Thursday’s close is the PSEi’s worst showing since it finished at 6,019.26 on Oct. 19, 2020.

Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message that the local bourse dropped as investors were cautious ahead of the policy decision of the Bangko Sentral ng Pilipinas (BSP).

“Investors traded cautiously while waiting for the BSP’s policy decision. The Philippine peso, which has been declining below the P54 per US dollar level, is seen to pose upside risks to inflation and discourage foreign investors from parking their funds in the Philippine market,” Mr. Tantiangco said.

First Metro Investment Corp. Head of Research Cristina S. Ulang said in a Viber message that the local market dropped on inflation worries. 

“Market bearish largely on jitters over higher inflation trajectory based on government pronouncements,” Ms. Ulang said.

After the market’s close, the BSP announced that its policy-setting Monetary Board decided to hike borrowing costs by 25 basis points (bps), bringing the key rate to 2.5%, to help stem rising inflation. This is despite market expectations of a 50-bp move following the US Federal Reserve’s hawkish turn.

Thursday’s hike followed an increase of the same magnitude at its May 19 meeting that kicked off the BSP’s tightening cycle following the cumulative 200 bps in cuts made in 2020 to support the economy amid the coronavirus pandemic.

Headline inflation reached 5.4% in May, faster than the BSP’s 2-4% target for the year. Year to date, inflation has averaged 4.1%.

The BSP on Thursday also raised its inflation forecasts. For 2022, it now sees inflation averaging 5% from 4.6% previously, which, if realized, would be the fastest since the 5.2% print logged in 2018. The 2023 forecast was also hiked to 4.2% from 3.9% previously.

Following the BSP’s decision, the peso closed at P54.70 per dollar, down 23 centavos from the previous day and the weakest since Nov. 21, 2005’s finish of P54.74.

All sectoral indices declined on Thursday. Mining and oil went down 454.15 points or 3.98% to 10,945.02; financials retreated 50.95 points or 3.34% to 1,471.22; services fell 39.40 points or 2.39% to 1,604.49; property decreased 36.66 points or 1.30% to 2,764.26; industrials dropped 91.91 points or 1.04% to 8,743.86; and holding firms lost 41.25 points or 0.72% to end at 5,663.91.

Decliners beat advancers, 143 against 65, while 36 names ended unchanged. Value turnover on Thursday reached P5.42 billion with 1.08 billion shares switching hands, higher than the P4.27 billion with 905.48 million shares logged the previous trading day.

Net foreign selling declined to P478.57 million from P560.32 million on Wednesday. — R.M.D. Ochave

Philippine-China oil exploration terminated  

Fisherfolks in Scarborough Shoal area in Masinloc, Zambales. — REUTERS

OIL and gas explorations between the Philippines and China have been completely terminated, according to Manila’s top envoy.  

“The president had spoken,” Foreign Affairs Secretary Teodoro L. Locsin, Jr. said in a speech in Manila, referring to President Rodrigo R. Duterte. “I carried out his instructions to the letter: Oil and gas discussions are terminated completely.”  

“Nothing is pending; everything is over,” he added. “Three years on and we had not achieved our objective of developing oil and gas resources so critical for the Philippines — but not at the price of sovereignty; not even a particle of it.”  

Outgoing President Rodrigo R. Duterte had ignored the country’s arbitral victory against China in exchange for infrastructure pledges from its neighbor. He also agreed to pursue a joint exploration with China in the South China Sea.  

In March, the tough-talking leader asked the next government to honor the Philippines’ commitment to the proposed joint oil exploration with China and avoid any conflict.  

The South China Sea, a key global shipping route, is subject to overlapping territorial claims involving China, Brunei, Malaysia, the Philippines, Taiwan and Vietnam. Each year, trillions of dollars of trade flow through the sea, which is also rich in fish and gas.  

 Mr. Locsin noted that despite attempts to reconcile issues in the disputed sea, not much has changed. 

“I tried for three years to come to an agreement to facilitate exploration for and exploitation of oil and gas in the West Philippine Sea,” he said, referring to areas of the waterway within the country’s exclusive economic zone. “We got as far as it is constitutionally possible to go.” 

“We had both tried to go as far as we could — without renouncing China’s aspiration on his part; and constitutional limitations on my part,” he added, citing discussions with Chinese State Councilor and Foreign Minister Wang Yi. “I shut down shop completely.”  

Nearing the end of his term, Mr. Locsin said the Philippines has not “surrendered a single inch of territory or a drop of our waters.”  

“Not by word or deed have we weakened our right to everything in the West Philippine Sea,” he said. “Without inviting pity by asking, we achieved an international consensus that right is with us and might cannot ever take it away.”  

Mr. Locsin said differences between the two nations should not lead to endless conflict.  

President-elect Ferdinand R. Marcos, Jr. has said Mr. Duterte’s nonconfrontational stance on the sea dispute with China  was “the right way.” He also said he would pursue an independent foreign policy.  

China has promised continued bilateral relations with the Philippines as the country transitions to a new government.   

Foreign Ministry spokesman Zhao Lijian earlier said China would stay committed to the friendship of both nations and focus on post-pandemic growth. — Alyssa Nicole O. Tan 

Media groups cite ‘chilling effect’ of website ban

A PHILIPPINE government order to block websites with alleged links to the Maoist movement could force self-censorship and push them to toe the government’s line, media organizations said on Thursday.

“This order by the National Telecommunications Commission (NTC) has a chilling effect,” Ronalyn V. Olea, managing editor at news website Bulatlat.com told the ABS-CBN News Channel.

Anyone who covers the other side that is considered an enemy of the state might also be considered one, she added.

The National Telecommunications Commission on June 8 ordered local internet service providers to block websites that allegedly support terrorists and terrorist organizations.

NTC Commissioner Gamaliel A. Cordoba issued the order upon the request of Hermogenes C. Esperon, Jr., the national security adviser of President Rodrigo R. Duterte.

Mr. Esperon on June 6 asked the NTC to order internet service providers to block access to 26 websites that it accused of supporting the Communist Party of the Philippines (CPP), New People’s Army (NPA), and the National Democratic Front of the Philippines (NDFP).

The Anti-Terrorism Council has labeled these terrorist groups.

The websites of alternative media Bulatlat and Pinoy Weekly, which have been reporting on grassroots situations, were among those listed by Mr. Esperon in his letter.

Also blocked were the websites of fisherfolk group Pamalakaya and Bagong Alyansang Makabayan, which are among Mr. Duterte’s fiercest critics.

The websites of Pamalakaya, Bulatlat, and Bayan were still inaccessible as of press time.

“This could be the start,” Ms. Olea said. “There is this level of anxiety because anyone red-tagged here in the Philippines could face other dangers, including harassment, surveillance and extrajudicial killing.”

Bulatlat did not get a notice from the government before it was blocked, she said. “We were not given any notice so there was no due process. We have the right to at least be notified of any government action.”

Ms. Olea said state forces usually start their attacks on the press with alternative media. “The cyber-attacks also started with Bulatlat and then later on, it also targeted other media outfits.”

“So we call on our colleagues, we thank our colleagues for standing up for press freedom because this is not only an issue for Bulatlat.”

Some Philippine news websites experienced cyber-attacks last year, according to a report by Sweden-based digital forensic group Quirium Media.

It traced the attacks on Bulatlat and Altermidya to computer networks of the Department of Science and Technology (DoST) and the Philippine Army.

A unit of the Department of Science and Technology later confirmed that the source of the attacks was the army.

The decision to block websites should not fall on the National Security Council and NTC, Jonathan de Santos, who heads the National Union of Journalists of the Philippines, told the same news channel. “It should not just fall on a small group of people.”

This is more within the purview of the courts, he pointed out. “The incident could start with Bulatlat and Pinoy Weekly, but it could easily spread to other news sites.”

Mr. De Santos separately told ABS-CBN Teleradyo the blocking of critical websites was arbitrary. “Their basis for blocking them — the alleged affiliation with CPP-NPA-NDF — is very vague.”

“Bulatlat and Pinoy Weekly are not designated [as terrorist groups],” he said. “The alleged connection, if any, is far-fetched.”

He said covering revolutionary and progressive groups does not necessarily mean supporting their cause.

Mr. De Santos said critics of the Anti-Terrorism Act who questioned its validity at the Supreme Court had raised concerns that journalists who interview rebels might get accused of being supporters.

“Journalists have to look at all points of view, and giving that point of view space or air time doesn’t mean support for it,” he said. “It doesn’t mean we’re encouraging people to join… It’s part of the job, you have to get their side as well.” — Kyle Aristophere T. Atienza

IBP scores arrest of journalists in Tarlac City land dispute

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A LAWYERS’ group on Thursday denounced the arrest of journalists who were covering a land protest in Tarlac City.

“Journalists should not have to run the risk of arrest and criminal charges when they are discharging their constitutionally protected duties of covering and reporting on matters of public consequence, such as land disputes,” the Integrated Bar of the Philippines (IBP) said in a statement.

“Any intrusion into this liberty of speech and of the press risks depriving the public of crucial knowledge of government affairs.”

Authorities arrested more than 90 people, including journalists, farmers and activists in the village of Tinang in Tarlac City for illegal assembly. Some of them were released shortly after, while 83 were charged.

“Journalists and other members of the press enjoy a wide latitude of discretion in investigating and reporting news relating to public affairs,” IBP said. Police should also respect citizens’ right to due process, it added.

Acting National Police chief Vicente D. Danao earlier questioned the presence of journalists in the protest, accusing them of meddling.

“What are you doing here and why are you meddling inside?” he told a press briefing last week, addressing the journalists. “Maybe you are the ones agitating these groups.“

The National Union of People’s Lawyers (NUPL) earlier said the protesters should not be punished for exercising their constitutional right to peaceful assembly.

Last week, the Commission on Human Rights said it would investigate the arrest after farmers filed a complaint at its Central Luzon regional office.

Vice President Maria Leonor G. Robredo also denounced the mass arrest, saying the protesters only wanted to provide for their families.

“A heavy-handed approach to the charge of illegal assembly guts the freedom to peaceably assemble and petition the government for redress of grievances,” IBP said. — John Victor D. Ordoñez