A MAN walks along a nearly empty street in Seoul, South Korea, July 12, 2022. — REUTERS
SEOUL — When South Korea announced its decision to lift most coronavirus disease 2019 (COVID-19) restrictions earlier this month, 29-year-old office worker Jang was more concerned than happy.
The end of social distancing revived the time-honored office ritual of after-work meal gatherings, part of a tradition called hoeshik in Korean. Jang was among the increasing number of young workers here who consider it an obsolete company culture that intrudes on employees’ personal time.
“Hoeshik is part of your work life, except it’s unpaid,” said Ms. Jang, who lives and works in Seoul. She asked to be identified only by her last name in order to speak candidly about her employer.
Beginning last week, South Korea removed a midnight curfew on bars and restaurants, along with a cap of 10 people for private gatherings. The rules had served as guidelines for companies to adopt remote work policy and rein in non-essential gatherings, such as the off-hours drinking sessions.
“The worst part about the after-work dinners is that you don’t know when it’ll end. With drinks, it could really continue well into the night until who knows when,” Ms. Jang said.
Even before the pandemic, an increasing number of South Koreans, particularly younger workers, were already souring on company dinners and similar events, such as company retreats or weekend hiking with co-workers.
The pandemic may ensure that the old hoeshik culture is fading for good, an expert said.
“Now that employees know what it’s like to have off-hours kept for themselves, companies won’t be able to fully restore the old after-dinner and weekend gathering culture,” Suh Yong-gu, a marketing professor at Sookmyung Women’s University in Seoul, said.
According to a recent survey by Incruit Corp., a recruiting website operator, nearly 80% of respondents said their companies’ meal-gathering culture had changed during the pandemic, with 95% of them expressing satisfaction over the change.
The past two years taught Ms. Jang what hoeshik-free evenings were like. She spent more time to keep her house clean, make herself a good dinner and work out.
Kim Woon-bong, 30, who began working for a city government last year, said he felt lucky not having had to go through the mandatory hoeshik culture, thanks to the distancing rules.
“I actually liked meal gatherings held during lunch hours, because I knew they would end at 1 p.m.,” he said. “I am cautiously hoping the company dinner culture will change now that it has been almost gone for two years.”
Despite young employees’ growing displeasure with after-work dinners, many senior workers still believe such gatherings are necessary to build bonds with colleagues, Professor Suh said.
“It will be yet another conflict between the old and new generation,” he said. “But even if the after-dinner and weekend-gathering culture manages to survive, they won’t be able to be held as often as they used to be.”
While many companies are gradually returning to their offices, some are seeking to find a middle ground, opting for hybrid models instead of implementing a full-fledged return-to-office scheme.
SK Telecom Co Ltd., for one, is operating new workspaces to allow its employees to choose whether to work from home, at their head office, or at small dispersed work spaces that the company has opened.
“We don’t have specific guidance on company dinners, but they will be less frequent when many of our employees are working from home,” a company official said, asking not to be named as he was not authorized to talk to media.
“The key is that we don’t mind where our employees work or how often they come to the office, as long as it helps improve their efficiency.” — Reuters
WASHINGTON — Fragmentation of the global economy and a retreat from global trade would make countries more vulnerable to production shocks arising from natural disasters and outbreaks of fatal diseases, the head of the World Trade Organization (WTO) said on Wednesday.
WTO Director General Ngozi Okonjo-Iweala told an event hosted by the National Foreign Trade Council that economists estimated that a fragmentation of the global economy could reduce global gross domestic product by 5% in the longer run.
She said those losses would be compounded by higher transaction costs and balance of payments distress. It would also make it much harder to tackle problems such as climate change, or stabilizing global food and fertilizer markets that had been badly disrupted by the war in Ukraine. — Reuters
Inspired by the gardens of the English countryside, Promenade has acre upon acre of land studded with thousands of pine trees and Italianate secret gardens and mazes.
Imagine a property tucked away amidst manicured gardens, with luxurious amenities and an iconic view of an all-weather, 27-hole championship golf course in a picture-perfect setting. Imagine having a quick nature escape from the fast-paced, busy and stressful life in the city. Imagine private luxury living where the perks and peace of mind you won’t find anywhere else.
Sporting the kind of mannered, old-world luxury is Brittany Sta. Rosa, a partnership between Vista Land and the Quiros family, is a 300-hectare premium master-planned community of exclusive residences and themed enclaves located in the heart of Sta. Rosa, Laguna.
With over 30 years of real estate industry experience, Vista Land has expanded its development in Sta. Rosa to include other luxury residences with world-class features and amenities under its luxury residential arm, Brittany Corporation.
Located a mere 40-minute drive away from the central business district of Makati, the 300-hectare estate showcases uniquely themed enclaves composed of lot cuts ranging from 750 to 1,500 square meters. Tucked within a natural landscape brimming with decades-old trees and many charming bird species, these residential enclaves are enveloped by a bevy of social and leisure amenities tailored for the entire family and luxuriant land made up of parks, forests and breathtaking vistas.
A spirited master-planned community
Master-planned by one of the country’s top architectural firms, Vista Land’s vision to develop meticulously designed themed residences evolved to include uniquely themed residential enclaves. Fontamara, Belle Reve, Promenade, La Residencia de Sta. Rosa, Augusta, and Georgia Club were each named after some of the world’s most charming destinations. Residents can choose to come home to English gardens, Spanish haciendas, Italian villas, or Georgian colonial houses, depending on which style best suits their tastes.
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Promenade residents embrace the wide-open spaces, fresh country air, beautiful landscapes, sweeping views of well-groomed fairways that are signature to this spectacular part of Brittany Sta. Rosa.
Promenade offers panoramic and unobscured views of the Banahaw fairways of Sta. Elena golf course.
These exclusive properties retain their historical appeal without skimping on modern comforts and outright luxuries. With lush green foliage of trees, clear skies, open green spaces, and beautiful homes on generously sized lots with nature as a backdrop, Brittany Sta. Rosa’s luxury properties within Sta. Elena City stand out as a unique development.
Location is paramount when it comes to real estate. Located in the heart of Sta. Rosa, Laguna, Brittany Sta. Rosa’s impressive location brings one closer to a whole new world of opportunities. Lifestyle hubs, business establishments and premium educational facilities are within accessible distance.
One can also take a different kind of breather as Brittany Sta. Rosa is surrounded by some of the country’s most prestigious golf courses such as the Sta. Elena Golf Club, The Country Club and the Canlubang Golf and Country Club that have challenged and captivated golfers for more than a decade and are all just a swing away from the master-planned community.
Privacy, exclusivity and high quality of life
Brittany Corporation, the luxury residential arm of the country’s largest home developer Vista Land, offers the premium standard in luxury house and lot, offering superior home designs inspired by the world’s most charming cities.
The luxury residential enclaves that are situated within Brittany Sta. Rosa provide unprecedented space, comfort, and exclusive finishes. A home that is uniquely crafted with privacy, exclusivity and high quality of life in mind.
Fontamara, a three-hectare charming development, has an elaborate decorative detailing combined with contemporary characteristics of Italian-inspired homes amidst the lush background of trees, flowers and waterways.
Named after a quaint village in Southern Italy, Fontamara is a highly exclusive community, spanning across three hectares of picturesque beauty and breathtaking landscapes. Fontamara is also home to houses with flat roofs, tall and narrow windows, frescoed halls and decorative brackets as well as well-manicured gardens, and a cobblestone entrance gateway with a stunning fountain as its centerpiece. Fontamara is composed of 61 lots that were easily sold out after its launch.
Meanwhile, for people who value privacy and exclusivity, Belle Reve, which literally means “beautiful dream”, offers a French-Mediterranean ambience filled with many gardens and courtyards created by world-class landscape artists and architects.
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Located inside Promenade is Eliot, a smart home that features a two-car garage, an indoor courtyard, spacious living and dining room areas, three full bedrooms and a master bedroom, and an attic with a walk-in closet. This work of art sits nearest to a stately English country manor with a majestic front view of the hedged maze garden.
Brittany Sta. Rosa comprises luxury residential enclaves that are full of old-world charm and beauty.
At Belle Reve, no two gardens and courtyards are the same. Open green spaces make up half of its 20-hectare total area, and centuries- and decades-old trees stand in community blocks — a strong sense of commitment and reverence towards nature creating a lush landscape that offers a profound sense of peace to all who choose to make Belle Reve their home. Lot cuts at Belle Reve are up to 1,200 square meters.
La Residencia de Sta. Rosa is a 20-hectare development that brings forth the ambiance of authentic Spanish estates that are all at once elegant and comforting, rustic and refined.
Surrounded by flowering trees and gorgeous landscaped gardens, the estate is a breath of fresh air from the busy life of the metropolis. Crisp stucco finishes, terra cotta barrel tile roofing, courtyards, wrought iron balusters, and arched loggias add to the ambience of this Spanish-themed enclave. Like a canvas painted with hues of orange, yellow, and red amidst blue skies and wide greenery, La Residencia is truly a picture-perfect community.
La Residencia also mimics the conservative atmosphere of colonial Spanish culture, putting serenity and relaxation at a premium. The enclave features a balance between indoor and outdoor living spaces where residents can feel like they are immersed in their outdoor setting. They can simply indulge themselves in a good siesta by the porch, or entertain their amigos and amigas in a cozy receiving area. La Residencia is all about elegance and splendor.
Tucked in an untouched natural landscape, the 15-hectare Augusta stands tall and proud as a Colonial American-themed residential enclave that has a private and secure setting amid gated grounds. The grounds are a testament to classic English landscape design which features a manicured garden, sweeping lawns and outstanding recreational options such as a well-equipped gymnasium, jogging trails with magnificent landscape view and huge swimming pool and multi-purpose court, all within the prized setting of Augusta.
With a custom home site development, one is awarded the liberty to create the home of their choice. Augusta has every potential of creating homes bound to become classics. Augusta is composed of 394 lots that were bought quickly after its launch.
Offering the finest rendition of the Old American South in the country, the 15-hectare Georgia Club is a sanctuary inspired by the opulence and gentility of the State of Georgia. Its signature homes with architectural details such as wrap-around porches, gabled roofs, shuttered French windows and rope swings express the elegance of the stately mansions and plantation homes that marked an era of unbridled wealth enjoyed by the southern states in the1800s.
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Georgia Club comprises cultivated gardens, The Peachtree Clubhouse and Daisy Park, among others.
Georgia Club's signature homes feature eccentric glamour theme with unique architectural details and English accents.
Glamour meets eccentric English accents at Georgia Club, which is a must for those in need of a rural retreat with high style.This recently opened enclave comprises cultivated gardens, The Peachtree Clubhouse and Daisy Park, among others. Georgia Club is an idyllic English mix of the old and new, complete with grand sash windows that combine tradition with modernity as well as simple yet elegant facades with gracious classical proportions and symmetry.
These two adjacent luxury residential enclaves are within accessible distance to premium universities such as the Our Lady of Assumption College, De La Salle University, St. Scholastica’s College, Don Bosco College, Xavier School, Miriam College, Brent International School, and the University of Sto. Tomas’ Innovation Center which is set to finish the construction of its first building by June 2022. The luxury residential enclaves are easily accessible via the major thoroughfares South Luzon Expressway (SLEX) and the Cavite-Laguna Expressway (CALAX) and is close to key economic areas in the south.
Also nestled within Brittany Sta. Rosa is its flagship community, Promenade, which is another exclusive and charming 30-hectare cluster of 235 lots set within lush forests that blend into beautiful knot gardens.
Inspired by the gardens of the English countryside, Promenade has everything you could ask for in an indulgent country estate — an epic gravel drive, acre upon acre of land studded with thousands of pine trees, Italianate secret gardens and mazes, high black-and-gold, elaborate 18-century style gates, man-made lagoons, reflecting pools, country homes and a magical woodland.
At the center of the Promenade is the spectacular Luxor obelisk, a defining feature of the luxury residential enclave since it was erected during its launch year.
At the center of the Promenade is the spectacular Luxor obelisk, a defining feature of the luxury residential enclave since it was erected during its launch year. Promenade also features parks on every corner and rotundas with a lush collection of flowering plants and greenery.
Promenade is the only development among the luxury residential enclave that offers panoramic and unobscured views of the Banahaw fairways of Sta. Elena golf course. In this quiet enclave, there is a limited and exclusive row of lots with fairway views at the backside of each lot.
Promenade is also considered as the greenest enclave providing the majestic views of Mt. Makiling. Residents here embrace the wide-open spaces, fresh country air, beautiful landscapes, sweeping views of well-groomed fairways that are signature to this spectacular part of Brittany Sta. Rosa. Promenade is composed of 235 lot cuts ranging from 750 to 1,500 square meters, with only a very few lots available.
Brittany Corporation, the company behind these themed luxury residential enclaves, has always been devoted to the conservation of the environment. With its ecosystem of hardwood trees, sprawling woodlands, and open green spaces, Brittany Corporation’s themed luxury residential enclaves, most especially the Promenade, has become a mecca for nature lovers.
It has become a nature sanctuary to at least 25 different species of birds and the presence of lichens and fireflies indicate that the air is fresh and unpolluted, according to a survey by the Wild Bird Club of the Philippines. The sprawling woodland is also home to over 1,200 trees that are over 50 years old, which include Narra, Mahogany, Acacia and Gmelina.
At Brittany Corporation, expect nothing less than sophistication, quality, elegance and sustainability that spell perfect in providing a community where residents can lead a luxurious, nature-infused lifestyle and enjoy their own private sanctuary that offers unmatched multimillion-dollar views, above and beyond the good life.
For more information on Brittany Corporation’s collection of luxury properties, visit www.brittany.com.ph. You may also follow us on Facebook, Instagram and YouTube.
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SHENZHEN-BASED multinational company Huawei Technologies Co., Ltd., launched a recruitment program to attract top talent in a crowded tech industry.
“When we talk about innovation, the first word that comes to our mind is talent,” said Huawei rotating chairman Ken Hu at the 19th annual Global Analyst Summit in Shenzhen on April 26, a day after the TopMinds recruitment program was launched on the company website.
“We don’t care where you’re from, where you graduated, or what you studied,” he said. “As long as you have a dream for the future and believe you can make it happen, we want you to come and join us. We provide world-class challenges, a powerful platform, and all the resources you need to explore the unknown.”
Cloud migration is an inevitable trend, but organizations are facing problems in cloud adoption, said Mr. Hu.
“We help them address this,” he added. “For those unwilling to adopt because they are worried about security, we [advise] local dedicated clouds for more sensitive requirements. For those not sure how to use the cloud, we create dedicated teams to help get their talent up to speed.”
enabling 10 Gbps connections everywhere with 5.5G and F5.5G, to allow for a more immersive experience in homes, as well as low latency in industrial settings;
redefining systems architectures for individual nodes, foundational software, and data centers, to increase system performance and energy efficiency;
building MetaStudio, an end-to-end digital content pipeline, to expedite digital content production;
providing a user-centric intelligent experience called AI (artificial intelligence) Life, in order to accelerate the convergence of the physical and digital worlds; and
boosting the generation of renewable energy by redefining the PV (photovoltaic or solar panel) sector with AI and cloud capabilities.
“We have to work with industry partners… to bring the 10 Gbps experience everywhere,” said Mr. Hu, adding that this speed will enable ultra high-definition videos and holographic applications (which 1 Gbps connections, the current typical speed, cannot handle).
MetaStudio, he added, was a response to the rapid convergence of the digital and physical worlds. A film that used to take six months to render can be done in two weeks with MetaStudio, according to Mr. Hu.
“[MetaStudio] greatly shortens the film production cycle,” he added. “We look forward to digital content generated with this cloud surface.”
Dr. Zhou Hong, president of Huawei’s Institute of Strategic Research, also shared the two questions Huawei hopes to address in the future: how machines perceive the world, and man’s ability to build models that teach machines how to understand it; and how we can better understand the physiological mechanisms of the human body, and human intent and intelligence.
“Everything we imagine today is very likely to be too conservative — too little — for tomorrow,” he said at the April 26 summit. He pointed out that when he was a college student 30 years ago, people had to queue to make a long-distance phone call. Whereas today, everyone can make a video call using a small gadget.
“We have to meet the future with bold hypotheses and a bold vision, and throw caution to the wind as we push to break through bottlenecks in theory and technology. This is the only way forward,” Mr. Zhou said. — Patricia B. Mirasol
BEIJING — When the town of Yanjiao near Beijing was suddenly plunged into acoronavirus disease 2019 (COVID-19) lockdown last month, taxi driver Dong Tiejun was forced to drive hundreds of kilometers to avoid roadblocks and get a passenger to Tianjin, a metropolis on the northeast coast.
As an unlicensed, long distance driver, Mr. Dong relied on a network of regulars traveling in and out of Beijing via Yanjiao, in Hebei province just east of the Chinese capital. Yanjiao’s lockdown from March 13 to early April took away much of his income.
“No one can get out of there, so who will take your taxi?” he said.
Millions of other white- and blue-collar workers whose livelihoods depend on unimpeded mobility between cities have faced similar hurdles since COVID cases began surging in March and the flow of people and goods between provinces was upended by travel curbs.
Analysts at Nomura estimate 46 cities are currently in full or partial lockdowns involving strict mobility restrictions on local residents, affecting the lives of 343 million people.
Border towns such as Yanjiao have grown at a dizzying rate over the past decade as office workers in Beijing looked for affordable housing nearby, with hundreds of thousands crossing the Hebei-Beijing border on a daily basis before COVID.
Even after the lockdown for Yanjiao residents was lifted on April 4, border checkpoints were clogged in the early hours of the morning and resentment at COVID curbs was palpable.
“I come here six days a week, every time at 5:30 a.m., the bus stop is far and the checkpoint is strict, the cost of riding a scooter here is also high, I think all these measures are very inconvenient,” said a Yanjiao resident surnamed Gao.
Several Yanjiao commuters told Reuters that another burdensome measure was the “commuter pass” that anyone entering Beijing must now obtain and continuously update.
The long list of documents needed to obtain the pass includes a homeowner’s ID card, a negative COVID test report with a 48-hour validity, proof of vaccination, and proof of employment in Beijing, among others.
“I’m afraid I can’t get all of these documents,” said Yan Chun, 21, who came to Beijing looking for work after the beauty salon she worked for in Shenzhen closed due to COVID.
“I’m looking for a job, so where do I get proof of employment in Beijing?”
While major centers like Beijing and Shanghai have maintained high bars for imposing stringent COVID restrictions on residents, dormitory towns in Hebei face a much stricter and mercurial situation.
Authorities in Sanhe city, which is composed of Yanjiao and nine other towns, said on Wednesday residents “would be restricted from entering and exiting Beijing” after “an abnormal nucleic acid test” was reported.
THOSE WHO LABOR Lao Yuan, 62, and his wife left their village in Hebei 10 years ago to work in a car factory in Beijing. In recent times, they have depended on daily labor markets in Songzhuang, on the outskirts of Beijing near the Hebei border, usually earning around 300 yuan ($46) a day.
After the Lunar New Year holiday, Lao Yuan’s hometown in Hebei was locked down and his wife who traveled there has been unable to return to greater Beijing since. He now lives alone in a rented room in Songzhuang.
At the labor markets, workers among the hundreds who would gather around 4 a.m. every day waiting for vans to take them to construction sites and factories say things have changed since the latest COVID surge.
It’s now common to not find work at Songzhuang even after a whole morning of waiting, said a migrant worker from Shandong province, only giving his surname as Wang.
“I’ve some direct connections with factory bosses, that works better now,” Mr. Wang said.
“Most people just leave by 8 a.m., if we do not get a job we just stay in our rooms resting, looking at our phones.” — Xiaoyu Yin and Eduardo Baptista/Reuters
KATHMANDU — Nepal is putting a 21st-century spin on a tourism sector dominated by activities unchanged for generations as it looks to boost a vital part of an economy decimated by the coronavirus disease 2019 (COVID-19) pandemic and soaring import bills.
As part of broader plans to lure more tourists to the home of eight of the world’s 14 highest peaks, authorities are promoting bungee jumping, paragliding, and skydiving on top of traditional trekking and climbing, said Taranath Adhikari, director general at the Department of Tourism.
“We are adding new tourism infrastructure and investment in hotels is (also) rising,” he told Reuters in the capital Kathmandu.
The country has additionally called on its envoys to promote tourism, promised to ease visa rules and urged China to allow more people to visit despite COVID curbs.
Nepal suspended climbing and trekking in early 2020 because of the pandemic, and Mr. Adhikari called the rate at which visitor numbers were rising again “inspiring”.
In the first quarter of 2022, foreign arrivals more than doubled year on year to almost 79,000, and he said he expected the recovery to continue in coming months.
But numbers remain less than half of pre-pandemic levels, leaving the economy more vulnerable to shocks at a time when prices for imports including crude, edible oils and coal have soared.
On Tuesday, Prime Minister Sher Bahadur Deuba’s government imposed a complete ban on imports of some luxury goods including cars until mid-July amid dwindling foreign exchange reserves and mounting debt.
Regardless of that, hoteliers are ready to cater for the hoped-for tourism resurgence.
Binayak Shah of the Hotel Association Nepal (HAN) said the country could now accommodate up to 2.5 million visitors, more than double the record 1.2 million of 2019.
‘WORST BEHIND US’ While tourism is Nepal’s most famous industry, it is however far from its biggest source of income, accounting for around 5% of foreign exchange reserves compared with around 60% from remittances sent home by Nepali working abroad.
They also dropped during the pandemic as many expatriates were forced to return home, leaving many of its 29 million citizens facing hardship.
In mountain areas that depend largely on tourism, nearly 80% lost their income during the pandemic and the trekking ban, and about 3,500 tourism-reliant enterprises in the Thames area of Kathmandu alone closed, according to industry estimates.
More visitors come from neighboring India and China than anywhere else, and both countries are taking measures to prevent another wave of COVID cases.
Nepal, with a $36 billion economy, has recorded fewer than 50 COVID-19 cases and zero deaths in more than a month. So far 66.8% of its population have been fully vaccinated.
“I am fully vaccinated … Nepal is a safe place,” Swiss tourist Katharine Loosli, 65, told Reuters in Thames’s normally teeming streets.
She has been coming to Nepal regularly since 1998, and was preparing to trek to Pun hill, near the world’s 10th tallest peak Mount Annapurna.
The Ukraine conflict also deterred tourists from there and Russia, while air fares and other costs are rising.
Despite the headwinds, some restaurant and hotel owners are looking forward to better times.
Aging Dhaka, 47, who has run a souvenir shop in Thames for 30 years, said most people in the business felt the worst was behind them. “It looks like the black era for Nepal tourism is over.” — Gopal Sharma and Manoj Kumar/Reuters
Solaire Resort soars even higher with another Forbes Travel Guide 5-star Award for its Sky Tower. The 2022 distinction is now included in the property’s record of international titles, making this its 6th consecutive Forbes Travel Guide 5-Star rating since first receiving it in 2017, attesting to its unwavering commitment to the highest standards of service.
“Solaire’s achievements are the result of our team’s creativity, dedication, and determination to continue as a leader in the industry. Our 6th consecutive Forbes Travel Guide 5 Star Award is a continuation of our growing list of accomplishments — this award is another mark that emphasizes Solaire’s leading position as a globally verified luxury travel destination,“ says Thomas Arasi, Bloomberry Resorts Corporation and Solaire’s President and Chief Operating Officer.
Staying ahead and remaining at the top of the integrated resort industry, Solaire’s strength lies in its incredible facilities and unmatched attention to service-details, well-integrated to showcase the distinct Filipino characteristics that sets it apart from its contemporaries.
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Photo shows Solaire Resort’s Grand Suite at the Sky Tower.
Enjoy Solaire’s refreshing pool while watching the beautiful Manila Bay sunset.
The 17-storey multi-awardee Sky Tower is pure luxury. Its 312 rooms and suites are furnished with premium amenities and designed with top-class interiors and furnishings that make every stay indulgently relaxing. Each suite is generous in space with a floor area between 65 to 395 square meters, well above the usual hotel room size allocations found in the metro. Some other guest facilities are an outdoor swimming pool with cabañas and Jacuzzi where you can watch the glowing Manila Bay sunset, a wellness spa, a salon, and a fitness center.
Photo shows Oasis Garden Cafe.
World-class gastronomy is also abundant in Solaire’s signature restaurants. For Chinese cuisine, Red Lantern offers various specialties from the different regions of China, while authentic Japanese flavors are available at Yakumi where select ingredients are flown in from Japan’s famous Toyosu market. Fine Italian creations find their way to Finestra and are complemented by a vast selection of wines and perfectly marbled steaks. Western favorites from burgers, pastas, and steaks are the highlight at Waterside, and tastes from around the globe are in one space at Fresh with stations filled with food items that will satisfy all cravings in one sitting.
A dream shopping destination, The Shoppes at Solaire offers luxury designer fashion with the mark of true craftsmanship that’s lasted through the times. Find the boutiques of French fashion houses Louis Vuitton, Dior, and Kenzo, as well as a space dedicated to Italian brand Fendi. Found only at The Shoppes are Versace and Balmain.
Photo shows The Shoppes at Solaire.
The brand’s impressive achievements in its nine years of operation are a product of a trailblazing vision fueled by incredible grit and passion to put the first and only Filipino luxury integrated resort on the map – elements that not everyone can easily succeed in harnessing individually, more so all together. What makes it even more impressive is that these qualities are instilled and weaved into Solaire’s brand core values, cultivating a culture to achieve excellence.
“It is an honor to receive another Forbes Travel Guide 5 Star Award. This is a recognition of our teams’ hard work and perseverance to continue providing the best and safest experiences after an extraordinary time in the travel and hospitality industries. We look forward to welcoming back more of our guests as the world’s borders start to open again,” adds David Batchelor, Solaire’s Senior Vice President for Resort Operations.
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.
BENGALURU — The global streak of high inflation is far from over and aggressive monetary policy tightening will fall short in taming price pressures to mandated levels as broken supply chains are unlikely to mend anytime soon, Reuters polls showed.
Inflation in most countries has soared to multi-year highs, driven by a rebound in economic activity and a further straining of rampant supply chain disruptions.
While economists were expecting inflation to moderate this year with signs of supply shocks easing, Russia’s invasion of Ukraine and recent lockdowns induced by a resurgence in coronavirus disease 2019 (COVID-19) cases in parts of China, a major manufacturer, have derailed much of that optimism.
Analysis of global inflation data and the New York Federal Reserve’s Global Supply Chain Pressure Index (GSCPI), which gauges supply distortions, showed there is a stronger correlation now between supply chain disruptions and inflation than before the pandemic, particularly in the UK, the euro zone and the United States.
But there is a significant lag: while the GSCPI rose to its highest in Q4 2021, inflation was still months away from a peak.
That has made predicting inflation an even greater challenge for economists whose predictions have consistently been on the rise.
“I don’t think the supply chain disruptions are fully reflected in some of the inflation forecasts and that’s probably the reason why we might see forecasts go higher in the coming months,” said Brendan McKenna, international economist at Wells Fargo.
“I still think there’s some catch-up to be done on that front. Banks and even central banks didn’t really fully appreciate the supply chain disruptions we saw last year and might continue to see this year, partly a factor of the Russian-Ukraine crisis.”
Forecasts of 46 economies polled for inflation this year are now 3.9 percentage points higher on average from late 2020, the first time inflation forecasts for 2022 were sought.
In addition to medians, ranges have also moved upward.
For 2023, forecasts have increased by 1.1 percentage points on average so far since early 2021. Going by the consistently increased forecasts over the past year there are likely to be further rises.
“People are slow to see these things because they don’t necessarily look far enough upstream towards the sources of production, nor do they necessarily account for the delays in transit,” said Willy Shih, professor of management practice at Harvard Business School and an expert on supply chains.
“There is a time lag in all these supply chains depending on how far upstream you go, but you won’t feel it until many weeks, or sometimes months, later.”
Supply chain disruptions and their impact on inflation remain largely out of central banks’ control, yet many have begun withdrawing ultra-loose monetary policy to control soaring inflation.
Projections so far show inflation in 29 of 39 economies surveyed with stated central bank targets will remain above mandates this year and 16 next year.
To further complicate matters, policymakers must tackle sticky inflation with a high risk of a significant economic slowdown — in some cases recession — lingering in the background.
“Inflation tends to be a slow killer…. It may take a little bit more time before it really feeds into demand destruction and then the economy starts to slow down,” said Elwin de Groot, head of macro strategy at Rabobank. “I find it hard to accept growth does not slow because of inflation. That’s impossible.
“Inflation is no longer going to be as structurally low as we’ve seen after the global financial crisis and the past 10–15 years of slower inflation than central banks were aiming for; those times may be behind us.” — Reuters
RUSSIAN government hackers carried out multiple cyber operations against Ukraine that appeared to support Moscow’s military attacks and online propaganda campaigns, Microsoft said in a report on Wednesday.
The reported intrusions — some of which have not been previously disclosed — suggest that hacking has played a bigger role in the conflict than what has been publicly known.
The digital onslaught, which Microsoft said began one year prior to Russia’s Feb. 24 invasion, may have laid the groundwork for different military missions in the war-torn territory, researchers found.
Between Feb. 23 and April 8, Microsoft said, it observed a total of 37 Russian destructive cyberattacks inside Ukraine.
The Russian Embassy in Washington did not immediately return a message seeking comment.
The findings underscore how modern warfare can combine digital and kinetic strikes, experts said.
“Russian generals and spies have tried to make cyberattacks part of their war effort while they’ve struggled on the battlefield,” said Thomas Rid, a professor of Strategic Studies at the Paul H. Nitze School of Advanced International Studies at Johns Hopkins University.
Microsoft said Russia’s hacking and military operations worked in “tandem against a shared target set.” The tech company said it could not determine whether this correlation was driven by coordinated decision-making or simply because of shared goals.
For example, a timeline published by Microsoft showed that on March 1 — the same day a Russian missile was fired at Kyiv’s TV tower — media companies in the capital were hit by destructive hacks and cyberespionage.
In another case, the company’s cybersecurity research team recorded “suspected Russian actors” lurking on Ukrainian critical infrastructure in the northeast city of Sumy, two weeks before widespread electricity shortages were reported in the area on March 3.
The next day, Microsoft said, Russian hackers broke into a government network in the central Ukrainian city of Vinnytsia. Two days later, missiles leveled the city’s airport.
Victor Zhora, a top Ukrainian cybersecurity official, said on Wednesday that he continues to see Russian cyberattacks on local telecom companies and energy grid operators.
“I believe that they can organize more attacks on these sectors,” Mr. Zhora told reporters. “We shouldn’t underestimate Russian hackers but we probably should not overestimate their potential.”
He thanked Microsoft, the U.S. government and multiple European allies for their cybersecurity support.
Since the start of the war, academics and analysts have said Russia appeared to be less active in the cyber domain against Ukraine than expected. The Microsoft report reveals a flurry of malicious cyber activity, although its impact in most cases has been either unclear or not immediately evident.
Two weeks ago, the US government publicly exposed a cyberweapon, known as Pipedream, that was designed to damage industrial control systems. While the tool hasn’t been attributed to Russia, it is viewed as highly dangerous and its discovery coincides with the Ukraine conflict. — Raphael Satter, Christopher Bing and James Pearson/Reuters
“The whole idea that someone you dearly love is not well at the time of COVID-19 is really scary.”
This was what Charo Santos-Concio had to say about her pandemic experience thus far. In the past year, she underwent one of her most trying challenges in her life because her husband, Cesar Rafael Concio, Jr. needed constant medical attention due to an existing health concern.
“I went through a roller-coaster ride because my husband’s condition required us to make frequent hospital visits,” she recalls. “You really feel the anxiety, the worry, and the fear that you might get infected. However, it also strengthened my resolve to face these fears because my husband needs me.”
Charo further shared that, despite the stresses, it was important to accept the circumstances, remain calm, and keep up with the flow. “Life goes on. We must all learn to adjust to the new normal. We cannot be paralyzed by our fears,” she says. “Kailangan nating harapin ‘yan. Tingnan natin nang mata sa mata. Hindi tayo puwedeng magpatalo.”
The experience also highlighted the importance of securing her and her family’s health. “We must never take health for granted,” Charo reiterates. “We must all live an active life and take very good care of ourselves. It is equally important to look after our mental well-being as part of living healthier.”
And there’s also the importance of protecting one’s finances. Charo recognizes the importance of having a health protection plan to be financially secure should an illness strike. “Importante sa akin ang sense of security. Importante sa akin that whatever happens to me, I will not be a burden to my loved ones,” she says.
This was a lesson learned after the demise of her father, where the proceeds from his insurance policy allowed the family to financially cope after his passing. This experience taught her to be pragmatic and to embrace the value of security and peace of mind that an insurance policy brings to the family. “Ayaw mong iwanan ang mga mahal mo sa buhay with uncertainty about their future,” Charo shares. “As we work hard for ourselves and our loved ones, we should also put our money to good use by investing it in insurance, health protection, and mutual funds.”
Today, Charo looks forward to living a full life with her loved ones. And while she has retired, she continues to take on interesting projects every now and then. With Sun Life as her partner in health, she is assured that no matter what happens, she and her loved ones are financially protected from life’s unexpected twists and turns. “Having a partner in health can indeed help you lead a brighter life,” she muses.
Just like Charo, you too can secure your future and be financially protected should an illness strike. Know more about Sun Life’s Partner in Health campaign by visiting https://sunlife.co/SLPIH.
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LONDON — Measles cases jumped by 79% in the first two months of this year compared to 2021, after coronavirus disease 2019 (COVID-19) and lockdowns disrupted child vaccination campaigns around the world, according to data from UNICEF and the World Health Organization (WHO).
In January and February, there were 17,338 measles cases reported worldwide, up from 9,665 in the same period last year.
Measles is a very contagious disease that can be particularly dangerous for young children and babies. It spreads more quickly than Ebola, flu, or COVID-19.
UNICEF executive director Catherine Russell described the immunization gaps combined with a return to social mixing in the wake of the pandemic as a “perfect storm.”
“Measles is more than a dangerous and potentially deadly disease. It is also an early indication that there are gaps in our global immunization coverage, gaps vulnerable children cannot afford.”
The five countries with the largest measles outbreaks in the last 12 months were Somalia, Liberia, Yemen, Afghanistan and Ivory Coast. There have been 21 major outbreaks during that period.
Child immunization campaigns were knocked off course around the world during the coronavirus pandemic, and things have not fully recovered.
At the start of April, 58 campaigns in 43 countries were still postponed, impacting 212 million people — mostly children. Nineteen of those campaigns are for measles, putting 73 million children at risk, UNICEF and WHO said.
Immunization campaigns for diseases like typhoid and polio were also disrupted. Last month, Malawi reported its first polio case in decades while Pakistan, one of only two countries where polio remains endemic, recorded its first case for more than a year this month.
The WHO and UNICEF said it was imperative to get the vaccination drives back on track. — Jennifer Rigby/Reuters
The National Capital Region’s (NCR) economy rebounded last year from a double-digit contraction in 2020, but still remained below the national average, the Philippine Statistics Authority (PSA) reported on Thursday.
Preliminary results from the latest regional accounts showed the NCR’s economic output went up by 4.4% last year, reversing the 10% drop in 2020. This, however, was still lower than the 7% growth in 2019.
At current prices, Metro Manila’s economy was estimated at P6.158 trillion last year, higher by 6.2% from P5.801 trillion in 2020. Still, this was lower than P6.294 trillion in pre-pandemic 2019.
All 17 regions posted increases, mirroring the Philippine economy’s upwardly revised 5.7% growth in 2021.
However, Metro Manila’s economic growth fell below the national output. Other regions that missed the 5.7% national growth last year were Central Visayas (5.4%), Soccsksargen (5.2%), Cagayan Valley (5.1%), Ilocos Region (4.4%), Bicol Region (4.3%), and Mimaropa Region (3.3%).
On the other hand, Calabarzon led the 17 regions with 7.6% growth last year, a turnaround from 10.5% decline in 2020. It was followed by the Bangsamoro Autonomous Region in Muslim Mindanao (7.5% from -1.9%), Cordillera Administrative Region (7.5% from -10.2%), and Central Luzon (7.4% from -13.9%).
The capital region remained the largest contributor to national economic output last year with 31.5% share, a bit lower than 31.9% share in 2020. Metro Manila was followed by Calabarzon’s 14.7% share, Central Luzon’s 10.7%, and Central Visayas’ 6.5%.
On a per-capita basis, NCR rose by 3.2% last year, reversing the 11.1% decline in 2020. This was slower than the 5.6% growth back in 2019. — Bernadette Therese M. Gadon
