Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 514

Agricultural output may have contracted in 2024

A DRONE VIEW shows flooded farmlands following Super Typhoon Man-Yi in Quezon, Nueva Ecija Province, Nov. 18, 2024. — REUTERS

By Adrian H. Halili, Reporter

PHILIPPINE FARM OUTPUT likely contracted in 2024, reflecting the adverse impact of weather-related events such as El Niño and La Niña, analysts said.

Former Agriculture Undersecretary Fermin D. Adriano estimates that the value of agricultural output may have declined by more than 1% in 2024.

If realized, this would be a reversal of the 0.4% growth in the value of agricultural production in 2023 and miss the Department of Agriculture’s (DA) 1-2% growth target for 2024.

“Of course, El Niño and La Niña adversely affected the sector,” Mr. Adriano said in a Viber message.

The El Niño weather event, which began in June 2023, brought below-normal rainfall conditions, dry spells and droughts that affected overall harvest during the year.

The Philippines continued to experience below-normal rainfall conditions in the first half of the year. In the second half, the country experienced a series of storms that brought heavy rains and caused flooding.

“The year 2024 was full of challenges and issues. Overall, the agricultural output will be lower than 2023 due to natural calamities including El Niño and La Niña one after the other,” former Agriculture Secretary William D. Dar said in a text message.

Mr. Dar said the delayed distribution of inputs to farmers, as well as lack of technical assistance from local government units may have also contributed to the decline in agricultural production.

“With the series of typhoons and calamities in the fourth quarter, we can only expect output in the whole of 2024 to be lower than in 2023,” said Federation of Free Farmers National Manager Raul Q. Montemayor in a Viber message, citing El Niño and La Niña as factors that contributed to the drop in farm output.

The Philippine Atmospheric, Geophysical, and Astronomical Services Administration (PAGASA) declared the end of the El Niño in June 2024 but dry spells persisted in some parts of the country.

According to the DA’s final El Niño bulletin, agricultural damage was tallied at P15.3 billion with total volume lost at 330,717 metric tons, spanning 109,481 hectares of farmland.

In the second half, La Niña conditions increased the likelihood of tropical cyclones, low-pressure areas, and the intensification of the southwest monsoon in the Philippines.

La Niña conditions are expected to persist until the end of the first quarter of 2025, according to PAGASA.

Hog production, in particular, saw a decline in production due to these weather disturbances.

“El Niño affected production because warmer temperatures caused pigs to pant and reduced significantly their feed intake causing slower growth and lower weights,”

National Federation of Hog Farmers, Inc. (NatFed) Vice-Chairman Alfred Ng said in a Viber message.

Mr. Ng said heavy rainfall also raised the likelihood of respiratory diseases among hogs, which would have led to higher treatment costs.

“Mortalities may also be an issue especially for poorly managed farms and facilities,” he added.

At the same time, Mr. Adriano said several animal diseases like the African Swine Fever (ASF) and the Highly Pathogenic Avian Influenza  or bird flu, continue to affect the production in livestock and poultry sectors.

In the second half of 2024, the Philippines saw a resurgence in ASF cases which prompted the government to fast-track the roll out of vaccines for limited use.

Only the AVAC ASF Live vaccine from Vietnam has received approval for a limited government-controlled rollout. The Food and Drug Administration (FDA) has issued a Certificate of Product Registration for AVAC, valid for two years and subject to annual review.

The recent outbreaks were blamed on the spread of contaminated water due to heavy rains, the DA said.

OUTLOOK FOR 2025
Meanwhile, Mr. Montemayor said that farm production may likely rebound in 2025 due to low base effects.

“For 2025, you could say there is nowhere else to go but up given that we will be starting from a low base,” he said.

According to NatFed’s Mr. Ng, the DA and the FDA will soon allow the widespread use of the ASF vaccine which could help the hog industry’s recovery.

“If vaccine is successful for backyard raisers, then ASF virus load will go down and commercial farms with stronger biosecurity systems will also be protected. Then, the industry can bounce back as commercial farmers may be encouraged to come back,” he added.

The DA said earlier that the commercial use of the ASF vaccine could be allowed by February or March of this year.

The department also said that it is seeking to begin large-scale trials of a bird flu vaccine by March.

For Mr. Dar, the government must distribute agricultural inputs in a timely manner to help the sector boost production and income this year.

The Philippine Statistics Authority is set to release fourth-quarter and full-year data on farm output on Jan. 28 (Tuesday).

The agriculture sector contributes about a tenth of the country’s gross domestic product and provides around a quarter of all jobs.

Philippines may escape ‘middle-income trap’ by 2050 — Nomura Research

Workers put up decorations for the Lunar New Year at a mall in Binondo, Manila. — PHILIPPINE STAR/RYAN BALDEMOR

IT MAY TAKE more than two decades before the Philippines can escape the “middle-income trap,” Nomura Global Markets Research said, citing the need to implement key reforms to boost investment-led growth.

“The countries that continue to reap the benefits of the demographic dividend include Vietnam, Indonesia and the Philippines, and all have brighter prospects than Thailand on breaking free of the trap,” it said in a report.

“However, this is still a long-term challenge. Assuming strong potential growth is sustained (i.e., 5% for Indonesia and 6% for the Philippines and Vietnam), these countries may escape the trap by 2050.”

The Philippines remained a lower middle-income country despite an increase in its gross national income (GNI) per capita to $4,230 in 2023 from $3,950 in 2022, according to the World Bank’s latest income classification data.

To become an upper middle-income country, the Philippines would need a GNI per capita of $4,516 to $14,005.

The Philippines has been stuck in the lower middle-income bracket since 1987, according to the latest available data.

In its report, Nomura created a Middle-Income Trap Escape Index (MITEI), which assesses the ability of countries to break free from the middle-income trap.

Countries are ranked on a scale where a score of 100 is the sample average, with anything higher or lower than 100 indicating an above or below average score, respectively.

The Philippines garnered a score of 85 under the MITEI Index, the lowest among Southeast Asia. It scored lower than Malaysia (103), Thailand (98), Vietnam (94) and Indonesia (87).

Nomura said the Philippines is considered in a “tight spot,” which is defined as “traditionally poorer countries that continue to trail middle-income league tables.”

“Vietnam, Indonesia and the Philippines are catching up fast, propelled by strong investment growth, but breaking free of the trap is a long-term challenge.”

There is a need to implement structural reforms to drive investment growth through infusion and innovation, it added.

The Marcos administration is targeting to reach upper middle-income status by this year. The World Bank usually releases the income classification data in July.

Nomura said “business-as-usual” growth is not enough to escape the middle-income trap.

“In the Philippines, the government’s continued push for infrastructure investment will be supportive of medium-term growth,” it said.

The government is targeting 6-8% economic growth from this year until 2028. It has also committed 5-6% of gross domestic product on infrastructure annually.

However, Nomura noted that increased geopolitical tensions, particularly between the Philippines and China, could hinder foreign direct investment from entering the country.

“The underperformance during the latest supply-chain reconfiguration could therefore limit the boost to investment relative to peers,” it added.

Nomura said the process of graduating to a higher income class will be a long and challenging process.

“To escape the middle-income trap, a country cannot continue to rely on cheap labor and rapid urbanization. The move from investment-led growth to innovation-led growth, however, is complicated,” it said.

“It needs the combination of policies to attract and adopt foreign technologies, an adequately skilled workforce, increases in human capital and more deep-rooted reforms of the economic and business climate.”

Adapting technological innovations such as generative artificial intelligence will also be critical, it added. — Luisa Maria Jacinta C. Jocson

Philippines may turn to local debt after $3.3-B bond sale

US dollar banknotes are seen in this illustration taken July 17, 2022. — REUTERS

THE PHILIPPINES is weighing an option to raise the balance of its 2025 borrowing requirements locally, having implemented the bulk of its overseas funding plan for the year.

There’s a possibility that the Southeast Asian nation will no longer return to the international bond market this year after selling $3.3 billion of dollar and euro bonds on Thursday, according to National Treasurer Sharon Almanza.

“It depends, because another option is to source the balance from the domestic market,” Ms. Almanza said in a mobile-phone message on Friday when asked if the government will be opportunistic in selling international bonds for the remainder of 2025.

The Philippines, one of the most active sovereign issuers of dollar debt out of the region, is left with roughly $200 million to complete its foreign commercial bond program of about $3.5 billion for the year.

The investment-grade borrower received orders exceeding a combined $6.2 billion for its latest Securities and Exchange Commission-registered two-part dollar notes, according to a person familiar with the matter. The benchmark offering comes with a concurrent euro global bond sale.

A favorable market over the week provided “an opportune window for the Republic to reenter the capital market,” the treasurer separately said in a statement. Philippine dollar bonds returned 3.3% in the past year, underperforming most peers in emerging markets.

“Our goal is to capitalize on the current market momentum to secure the most efficient cost dynamics ahead of potential uncertainties in the near future,” Ms. Almanza said.

The government has penciled in a budget deficit of P1.54 trillion ($26.4 billion) for this year, or 5.3% of the nation’s economic output. It plans to raise P2.04 trillion from gross domestic borrowings to help plug the shortfall. — Bloomberg

CreatePhilippines empowers creative industries for global reach with skills training program

CREATEPhilippines, the country’s flagship trade promotions program, is launching the second phase of its ‘Navigate the Touring Circuit’ workshop after the success of its inaugural phase in 2024, furthering its mission to bolster the Philippines’ creative industries.

The capacity-building program, which previously brought workshops and expertise to Manila and key regional hubs such as Clark, Dapitan, and Bohol, is intensifying efforts to support the growth of the creative industries.

Phase II kicks off with a two-day intensive workshop designed to hone the skills of the country’s performing arts groups. Taking place on Jan. 30-31, 2025 at the Philippine Trade Training Center in Pasay, the workshop will delve into topics such as pitching for specific audiences and market and client engagement.

These free sessions aim to equip participants with the tools necessary to attract local and international clients ahead of the CREATEPhilippines X Manila International Performing Arts Market (MIPAM) in 2026.

The program will also include additional legs slated for March and June of this year. Interested creatives can visit https://createphilippines.com/createph-x-mipam to register and avail of the free training.

Organized by the Center for International Trade Expositions and Missions (CITEM), CREATEPhilippines has been at the forefront of promoting the nation’s creative industries as a high-potential export sector. Through knowledge-building activities, event promotions, and its digital hub, www.createphilippines.com, the program aims to showcase Filipino talent on the global stage.

For 2025, CREATEPhilippines will focus on supporting the priority sectors such as Performing Arts, Animation, Game Development, Visual Arts, and Communication Design through targeted interventions.

The Performing Arts and Music sector will benefit from local promotion initiatives, capacity-building programs in entrepreneurship and service exports, and knowledge-sharing activities on international markets.

These efforts aim to strengthen international networks, providing Filipino performing artists with opportunities to expand their reach and impact globally. Key programs include the Value Creation initiative, which focuses on capacity-building and market exposure through the CREATEPhilippines X MIPAM: Navigating the Touring Circuit Capacity-Building Sessions.

The Animation and Game Development sector will see expanded connections with industry players, facilitation of contracts with international buyers, and enhanced promotion of the indie game scene and animated film landscape in the Philippines. Strategic initiatives include a hosted foreign buyer program for selected local industry events such as CREATEPhilippines X Philippine Game Development Expo, and CREATEPhilippines X Animahenasyon.

In Communication Design, efforts will focus on encouraging legal practice among players and facilitating connections with local clients. The domestic promotion program for creative solutions dubbed as CREATELab will debut at IFEX Philippines on May 22 to 24 and Manila FAME on Oct. 16-18.

The Visual Arts sector, on the other hand, will prioritize enhancing overseas promotion through Overseas Trade Fair (OTF) participation and showcasing Filipino talent at prestigious events such as FOCUS New York and Asia Now Paris.

Polkadot launches ‘Byaheng Pilipinas’ hackathon series with P580K prize pool

Blockchain network Polkadot unveiled over P580,000, or approximately $10,000, worth of prizes to be given to participants in their new ‘Byaheng Pilipinas’ bootcamp and hackathon series.

The program combines a six-week boot camp with a four-week hackathon, providing participants with hands-on training in blockchain development and smart contract creation using Polkadot’s software development kit — Substrate. Participants will also gain access to expert-led workshops, industry insights, and mentorship to prepare them for tackling real-world challenges.

“Supporting Filipino developers and blockchain enthusiasts is essential for Polkadot because of the Philippines’ rapidly growing tech community and its increasing influence in Web3. Filipinos’ creativity and collaboration can help drive Web3 adoption in Southeast Asia and foster a more inclusive and diverse blockchain ecosystem,” said Patricia Arro, co-contributor for Polkadot SEA and OpenGuild.

In partnership with OpenGuild and Web3 Bulacan, participants will have the chance to design and prototype solutions addressing critical local challenges, such as decentralized identity (DID), financial inclusion, and remittances.

Participants will also explore Polkadot’s advanced technology, including its modular architecture, decentralized liquidity models, and smart contract capabilities, equipping them with the tools to create scalable, interoperable, and impactful blockchain solutions.

The program will culminate in a high-stakes Grand Demo Day in Manila, where top teams will showcase their projects. Teams from across the country will be sponsored to travel to Manila for the finale.

“Beyond technical skill-building, Byaheng Pilipinas fosters community engagement by connecting participants with like-minded developers, thought leaders, and industry pioneers. This collaborative environment is designed to spark fresh ideas and build a supportive network for Filipino innovators,” Ms. Arro said.

The program is also part of OpenGuild’s 2025 vision to establish a Polkadot hub, or “Plaza,” as a catalyst for blockchain adoption in the region. This initiative reflects their commitment to bringing more impactful Web3 projects to life across Southeast Asia.

Applications are open, from newbie developers to seasoned blockchain enthusiasts, with free registration available at https://lu.ma/sp4tnz38. To ensure inclusivity, the program offers both on-site and virtual participation options.

Nestlé Philippines inks partnership with Mober for EV-powered logistics

From L-R: Nestlé Philippines Head of Supply Chain and Procurement Anderson Martins and Mober Founder and CEO Dennis Ng

Nestlé Philippines, the world’s largest food & beverage company, has partnered with Mober, a frontrunner in green logistics services in the Philippines, to integrate electric vehicles (EVs) into its mid- and last-mile delivery operations, supporting its goal of achieving net-zero emissions by 2050 and helping meet its environmental, social, and governance (ESG) goals.

As part of the partnership, Mober will provide electric trucks (e-trucks) to service Nestlé Philippines’ logistics needs across Metro Manila.

To ensure seamless and sustainable operations, Mober has dedicated a 60-kWh EV charging station powered entirely by renewable electricity at Nestlé Philippines’ Greater Manila Area Distribution Center (GMADC) in Meycauayan, Bulacan. This infrastructure helps Nestlé’s EV fleet run entirely on renewable electricity when charged at GMADC, reinforcing its commitment to sustainability.

Compared to EVs charged with grid electricity, which emit approximately 0.68 kg of CO₂ per kWh, the use of renewable electricity for charging eliminates emissions, setting a new standard for zero-emission logistics.

“At Mober, we believe in taking bold steps toward reducing carbon emissions, and we’re proud to support Nestlé in achieving its 2050 net-zero commitments,” Dennis Ng, CEO of Mober, said. “With our eight electric trucks currently servicing Nestlé Philippines’ operations, we’re helping them not only reduce their carbon footprint but also set an example for the FMCG industry.”

Nestlé Philippines, which achieved 100% renewable electricity in all its sites two years ahead of schedule, has set ambitious sustainability goals, including halving greenhouse gas emissions by 2030 and achieving net zero by 2050.

“Adding cargo EVs to our distribution fleet is part of our efforts to transform our operations by reducing the carbon emissions of our supply chain. We want our consumers to enjoy their favorite Nestlé products knowing that these were produced and distributed to them using 100% renewable electricity,” said Anderson Martins, head of supply chain and procurement at Nestlé Philippines.

“This is part of Nestlé’s global vision of a net-zero future that has brought about various shifts in sustainable business practices. We hope that by doing this, we can further create a positive impact on society and the planet.”

RemoteGenies competes in Startup Grind Global Pitch Battle quarterfinals

RemoteGenies, the freelance marketplace built by Filipinos for Filipinos, qualified for the Hong Kong Quarterfinals of the prestigious Startup Grind Global Pitch Battle 2025. This milestone underscores the platform’s growing recognition as a global innovator in the freelance industry.

The Startup Grind Global Pitch Battle is a cornerstone event that gathers top-tier startups from around the world, offering them a platform to showcase their groundbreaking solutions. As one of the standout entries in the competition, RemoteGenies’ selection reflects its unique approach to connecting pre-vetted Filipino freelancers with clients worldwide.

RemoteGenies is a founder-led, innovative freelance marketplace designed to connect top-tier Filipino freelancers with global clients. The platform is dedicated to supporting freelancers and clients with a service model rooted in accountability, expertise, and community impact.

RemoteGenies’ unique features include a pre-vetting process for freelancers, a dedicated project coordinator for every task, and the GenieScholar initiative to fund education for underprivileged children in the Philippines for every 200 hours worked by freelancers.

“Qualifying for the Hong Kong Quarterfinals is a testament to the hard work and passion of the RemoteGenies team,” Deanna Visperas, founder of RemoteGenies, said. “This opportunity places us on a global stage, enabling us to share our vision of empowering Filipino talent while offering world-class services to clients everywhere.”

As RemoteGenies competes in the quarterfinals, the company remains steadfast in its mission to elevate Filipino freelancers on the global stage. Winning this competition would further accelerate its ability to make an impact, empowering thousands of freelancers and supporting its social initiatives.

The Hong Kong Quarterfinals of the Startup Grind Global Pitch Battle was held on Jan. 15. The event brought together startups from various industries to pitch their solutions to an audience of investors, industry leaders, and fellow innovators.

For more information about the event, visit the official website at https://about.startupgrind.com/january-2025-global-pitch-battle/.

British School Manila students host Upskills+ Foundation

Building on an existing partnership between the two organizations, the students of Year 6 at the British School Manila (BSM) recently participated in a day of learning and fun with children from Tondo, supported by the Upskills+ Foundation, Inc. (UFI).

Whilst BSM students regularly visit Upskills+ venues in Tondo during the school’s Make-A-Difference Week to work with them to develop community links, this is the first time that children from Upskills+ Foundation have had the opportunity to visit the school and connect with students in BSM’s Primary School.

As well as giving students and the children of Tondo the chance to learn about each other’s lives, the event, filled with games, music, dance, and creative art projects, created a lively and joyful atmosphere, fostering collaboration and connection.

The day was made even more special by the generosity of the BSM community, who rallied together in support of this meaningful initiative. Leading up to the visit, BSM students, teachers, and families collected donations of food, clothing, and school supplies to be shared with the families in Tondo.

The British School Manila (BSM) is a co-educational, private, not-for-profit British international school. Founded in 1976, the school has grown from two classrooms and 32 students in its first year to the present day where BSM welcomes 950+ students aged 3-18, representing 50+ nationalities.

The event marked the expansion of the school’s successful partnership with UFI, an organization committed to empowering marginalized communities, and underscores BSM’s dedication to fostering kindness, service, and global citizenship among its students.

The Service Learning program at BSM, in partnership with the school’s local Service Partners, ensures that students have experiences that inspire growth, compassion, and a deeper understanding of the world.

CLI targets P10 billion from bond issuances this year

CEBU LANDMASTERS, Inc. (CLI) plans to raise P10 billion through bond offerings this year, according to its chairman.

CLI Chairman and Chief Executive Officer Jose R. Soberano III said during a media briefing in Makati City last week that P5 billion in sustainability-linked bonds will be listed by the first week of March, while another P5 billion will be issued by the fourth quarter.

The two planned offerings represent the second and third tranches of CLI’s P15-billion shelf-registered debt securities program, respectively.

“The next tranche of P5 billion is already in the works. The target listing is by the first week of March. We’re already book-building now,” Mr. Soberano said.

“We plan another P5 billion (bond issuance) in the last quarter to close out the P15 billion. These are probably to refinance,” he added.

The second tranche consists of a base offer of up to P3 billion and an oversubscription option of up to P2 billion of peso-denominated Series D Bonds due in 2028 and Series E Bonds due in 2030.

In December last year, CLI said the second tranche received a “PRS Aa plus” credit rating with a stable outlook from the Philippine Ratings Services Corp. (PhilRatings), citing the company’s sustained earnings growth and competitive advantage in the Visayas and Mindanao markets.

Obligations with a “PRS Aa” rating are “high quality” and subject to very low credit risks, reflecting the company’s “capacity to meet financial commitments.” A stable outlook means the rating is likely to be maintained in the next 12 months.

The company listed the first tranche of the P15-billion shelf-registered debt securities program in October 2022.

Last week, CLI said it would allocate P12 billion for the initial phases of its two maiden projects in Luzon, which consist of a horizontal development and a condominium project.

The company is likely to launch its first Luzon project by 2026.

The property developer has launched close to 130 projects across 17 cities since being established in 2003. Its portfolio consists of residential developments, offices, hotels and resorts, co-living and co-working spaces, mixed-use projects, and large-scale townships.

CLI shares were last traded on Jan. 24 at P2.65 apiece. — Revin Mikhael D. Ochave

CREC, SMC eye Q1 start for Bataan solar plant construction

CREC.COM.PH

SAAVEDRA-LED Citicore Renewable Energy Corp. (CREC) and Ang-led SMC Global Light and Power Corp. (SGLP) are targeting to start the construction of their 153.5-megawatt (MW) solar power plant in Mariveles, Bataan within the first quarter.

“We’re doing the design already, so we target to break ground maybe in the first quarter this year,” CREC President and Chief Executive Officer Oliver Y. Tan told reporters on Jan. 14.

Mr. Tan said the solar power plant will likely be completed by early next year since the construction may take one year.

In June last year, CREC and SGLP signed an investment and shareholders agreement to jointly develop, construct, and operate a solar power plant.

SGLP is a wholly owned subsidiary of San Miguel Global Power Holdings Corp., the power arm of San Miguel Corp. (SMC).

The companies will collaborate and cooperate in financing, construction, ownership, operation, and maintenance of the plant through the subscription to a special purpose entity.

Upon satisfaction of these conditions, both parties will subscribe to the special purpose entity, with CREC initially owning 49% and SGLP owning 51% of the total issued and subscribed capital stock.

During the construction phase, CREC will subscribe to additional shares, resulting in equal 50:50 ownership between the two companies.

“If successful and both parties are happy, we hope that it will continue to the next and the next (projects),” Mr. Tan said.

CREC aims to add one gigawatt (GW) of capacity annually to the Philippines’ energy mix, focusing on ready-to-build or under-construction projects over the next five years, aiming for a total of around 5 GW by 2028.

For 2025, the company is expecting its first GW worth of energy projects to come online, which are mostly under the government’s second green energy auction held in 2023. It is also rolling out the second GW pipeline this year, according to Mr. Tan.

CREC, directly and through its subsidiaries and joint ventures, manages a diversified portfolio of renewable energy generation projects, power project development operations, and retail electricity supply services.

At present, the company holds a combined gross installed capacity of 285 MW from its solar facilities in the Philippines. — Sheldeen Joy Talavera

AirAsia plans MRO facility in Philippines — DoF

REUTERS

THE AirAsia group has expressed plans to establish a maintenance, repair, and operations (MRO) facility in the Philippines, according to the Department of Finance (DoF).

The MRO facility is expected to create more jobs and “position the Philippines as a regional hub for aviation services,” the DoF said in a statement after Finance Secretary Ralph G. Recto met with AirAsia Chief Executive Officer (CEO) Anthony Francis “Tony” Fernandes.

They discussed the strategic opportunities for the airline’s expansion in the Philippines, the department said.

Mr. Recto attended the World Economic Forum in Davos, Switzerland, from January 20 to 24 as special envoy of President Ferdinand R. Marcos, Jr. and head of the Philippine delegation.

In a separate post, the Finance chief also had a meeting with HCLSoftware’s Chief Revenue Officer Rajiv Shesh and Chief Product Officer Kalyan Kumar to discuss a potential partnership pushing the digitalization of the country.

HCLSoftware focuses on technology solutions, specializing in intelligent operations, data and analytics, and cybersecurity.

“The company expressed keen interest in supporting research and development initiatives and fostering local talent to cultivate a new generation of highly skilled tech professionals in the Philippines,” the DoF said.

The technology firm has committed to collaborating with the government in developing software technologies and sharing best practices.

On Jan. 24, the DoF said that Mr. Recto also met with Chairman of the Supervisory Board Karl Guha and CEO Steven van Rijswijk of the European bank ING to explore more partnership opportunities with the Philippines, particularly in leveraging artificial intelligence.

In 2025, ING will launch its use of generative artificial intelligence (GenAI) in the country, “making it the next country after the Netherlands and Germany to host live GenAI applications.”

Mr. Recto also had a meeting with HSBC CEO for Asia and the Middle East Surendra Rosha on the bank’s operations in the Philippines. — Aubrey Rose A. Inosante

Louvre Museum adds haute couture to high antiquity

PARIS — The Louvre, the world’s most visited museum, is for first time displaying haute couture gowns and accessories from fashion houses, including Chanel, Saint Laurent, and Dior, next to decorative arts from Ancient Greece to France’s Second Empire.

“Paris is the capital of fashion — there is a very strong relationship between the fashion houses and Paris, and the Louvre is in the heart of Paris,” Olivier Gabet, director of the museum’s decorative arts department, told Reuters on Friday at the opening of the couture exhibition.

Fashion houses have used the grounds of the Louvre for shows — but not the museum itself — and fashion designers, including Yves Saint Laurent, Hubert de Givenchy, and Karl Lagerfeld, have long had an affinity for the museum and its collections.

But Mr. Gabet said the exhibition was “the first time the Louvre brings fashion inside the museum in this way.”

A silk ball gown designed by John Galliano for Dior in 2006 sits in the center of a room dedicated to Louis XIV, lined with ornate, gilded furniture and towering portraits of the Sun King.

In another room, Alexander McQueen’s platform Armadillo shoes from 2011 are displayed in a case next to a 17th-century plate featuring pond life.

“The idea of this kind of exhibit is to say ‘come to the Louvre, look at the collections differently,’” said Mr. Gabet.

Home to Leonardo da Vinci’s Mona Lisa, the Louvre has requested urgent help from the French government to restore and renovate its ageing exhibition halls and better protect its countless works of art.

The couture exhibition runs through July 21. —  Reuters

1...513514515...12,669Page 514 of 12,669
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube