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British farmers investing less, switching crops as soaring fertilizer costs upend business plans

REUTERS

LONDON — Stung by soaring fertilizer costs, many British farmers are cutting investment and making major changes to their crop plans, including by producing less wheat used in bread, a survey showed on Thursday.

One third of farmers have changed their crop plans in the past four months, with 90% of them blaming fertilizer costs, the results of a survey of 525 crop farmers by the National Farmers’ Union (NFU) showed.

“Costs are rising rapidly on farms across the country,” NFU President Minette Batters said. “It’s already having an impact on the food that we are producing as a nation as well as leading to a crisis of confidence among Britain’s farmers.”

Britain is facing its worst inflation in 40 years, pushing up prices of everything from food to furniture and contributing to a wave of worker strikes across industries where unions are arguing for better pay.

“The survey also indicates that farmers are beginning to switch from growing milling wheat for bread to feed wheat for animals, because it has a lower fertilizer requirement,” the NFU said. “These rising costs are denting farmers’ confidence to invest.”

The conflict in Ukraine has worsened inflation, spurring an increase in oil and gas prices and translating to higher prices at fuel pumps. Soaring costs have been a headache for British farmers for several months now, with many being forced to stop planting crops such as cucumbers, aubergines and tomatoes after a surge in natural gas prices.

Ms. Batters said more government investment and support was crucial in helping farmers tackle spiraling costs, noting fertilizer prices had doubled alongside increases in feed and fuel prices.

A separate NFU survey of 610 dairy farmers showed 7% of them believe they could stop producing milk by 2024, which could remove 840 producers from the industry. — Reuters

Romualdez refiles GUIDE bill

A LAWMAKER has refiled the bill seeking to allocate P10 billion to state-run banks to allow them to ramp up lending to small businesses affected by the pandemic.

House Bill 1, or the refiled version of the proposed Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE) Act, seeks to give state-run Land Bank of the Philippines (LANDBANK) and Development Bank of the Philippines (DBP) more funds to expand their loan programs for micro, small and medium enterprises (MSMEs) heavily affected by the pandemic.

Under the measure, LANDBANK and DBP would be given P7.5 billion and P2.5 billion, respectively, appropriated from the National Treasury, to boost their unified initiatives.

“The proposed legislative measure seeks to strengthen the capacity of the Land Bank of the Philippines and the Development Bank of the Philippines to provide the needed assistance to micro, small, and medium enterprises, and other strategically important companies,” Leyte Rep. Martin G. Romualdez, the presumptive House speaker, said in the bill.

“To this end, the government financial institutions are mandated to expand their credit programs in order to assist MSMEs to meet their liquidity needs,” he added. “In particular, the LBP and DBP are mandated to expand their credit and rediscounting facilities to affected MSMEs in the agriculture, infrastructure, manufacturing, and service industries.”

The bill was filed by former Rep. Junie E. Cua, who chaired the House Committee on Banks and Financial Intermediaries, in the 18th Congress. It was approved by the House, but failed to hurdle the Senate. This refiled bill is the version approved by the House.

The proposed law increases the capital stock of DBP to P100 billion from P35 billion, which can be hiked further via presidential approval.

The measure also authorizes LANDBANK and DBP to invest in or enter into a joint venture agreement with a special holding company to rehabilitate Strategically Important Companies (SICs).

SICs should be investee companies that have high economic returns or job generation potential in industries such as construction, education, food industry, healthcare, infrastructure, low-cost and socialized housing, manufacturing, power and energy, product distributor/retailer, services, tourism and hospitality, transportation and logistics, and water and sanitation.

The special holding company will be allowed to invest in equity, execute convertible loans or purchase convertible bonds or other securities in said SICs, as well as incorporate subsidiaries.

The private sector may be invited to invest in the special holding company. However, the state-run banks must maintain majority ownership of the special firm until they have recovered their investment.

“The special holding company is intended to be a major player in the financial and capital markets by providing aid to strategically important companies with solvency or liquidity issues brought about by COVID-19 pandemic,” the lawmaker said.

The holding firm will be governed by a board of directors headed by the Finance chief as chairperson.

The measure also grants some tax exemptions to the two government banks and the holding company. — Alyssa Nicole O. Tan

Manila Water: Desludge, protect waterways

MANILA Water Co., Inc. has renewed its call to its customers to avail of the water concessionaire’s desludging services to prevent the clogging of septic vaults.

Desludging will help protect waterways, creeks, and rivers from untreated septic tank overflow, the company added.

“It is important to do septic tank cleaning and siphoning every five to seven years to ensure that the wastewater collected from septic vaults will undergo proper treatment through Manila Water’s septage treatment plants before they are discharged back to creeks and waterways,” said Manila Water Corporate Communication Affairs Group Head Jeric T. Sevilla, Jr.

Manila Water said that barangays scheduled for this month will not be charged any additional fees to avail of the desludging services. It also added that customers will only need to coordinate with their respective barangay offices for their siphoning schedules.

Select residents from barangays from Manila, Marikina, San Juan, Mandaluyong, and Rizal, among others, would be able to avail of the septic tank cleaning this July.

“If not on the list, please verify the desludging schedule of your barangay by calling the Manila Water Consumer Desk Hotline 1627,” Mr. Sevilla said.

Prior to the desludging schedule, Manila Water will also be conducting a census or survey of each location to keep track of the residents’ desludging cycle.

It also advised customers to ensure that their septic tanks are already uncovered on the actual day of desludging to help expedite the siphoning process and to avail of the desludging service even if their septic tanks are not yet full.

On Friday, Manila Water shares declined by 0.72% or 12 centavos to finish at P16.60. — Luisa Maria Jacinta C. Jocson

Celine closes Paris Fashion Week with bare-chested models and dazzling blazers

A MODEL presents a creation by designer Hedi Slimane as part of his Spring/Summer 2023 Menswear collection show for fashion house Celine during Men’s Fashion Week in Paris, France, June 26. — REUTERS/SARAH MEYSSONNIER

PARIS — Celine designer Hedi Slimane sent out a lineup of bare-chested models in sheer, unzipped tops and dazzling blazers Sunday last week, marking the return of French label to Paris Fashion Week’s menswear shows — and closing the week of events.

Leggy and long-haired, they marched down a wide runway in sunglasses, hands thrust in front pockets, as spotlights blinked.

From sequin-embellished shirts to low-cut, skin-hugging pants and a shimmery crocodile blazer, Celine’s summer runway presentation was crammed with clothes imbued with an androgynous rock spirit, à la David Bowie.

A long beige coat over a leather jacket paired with an ultra-slim tie and a white shirt added depth to slip-on shoes and raw edged jeans.

Leopard and landscapes of coconut trees patterns appeared on short sleeve shirts while big necklace plastrons acted as clothes.

The sparse concrete halls of the show venue — the Palais de Tokyo, a Fashion Week favorite — contrasted with the dramatic settings Mr. Slimane chose as a backdrop for his livestreamed presentations during the pandemic, with swooping drones and Renaissance castles. — Reuters

Manufacturing Purchasing Managers’ Index (PMI) of select ASEAN economies, June (2022)

Manufacturing Purchasing Managers’ Index (PMI) of select ASEAN economies, June (2022)

Lady Blazers two wins away from sweeping elimination

COLLEGE of St. Benilde Lady Blazers secure a place in Final Four. — SYNERGY/GMA NETWORK, INC.

COLLEGE of St. Benilde (CSB) overpowered Jose Rizal University, 25-13, 25-21, 25-9, on Sunday to secure a place in the Final Four in the 97th NCAA volleyball tournament at the Paco Arena.

Jade Gentapa unleashed a masterful 16-point effort while flamboyant Michelle Gamit scattered 12 hits as the Lady Blazers rolled to their seventh straight victory that secure them a place in the semifinals.

It was another dominating win for CSB, which moved two games away from sweeping the elimination round and barging into directly to the best-of-three championship.

It clashes with University of Perpetual Help on Wednesday and reigning three-peat champion Arellano University on Saturday in its last two games.

Interestingly, the Lady Blazers matched their blistering 7-0 start in the league’s last season two years ago that was eventually called off due to the coronavirus disease 2019 (COVID-19) pandemic.

“We’ll just continue to work and train harder,” said CSB coach Jerry Yee, who is hoping to steer the Taft-based school to its second league crown since going all the way seven years back.

Skipper Mycah Go, Jhasmine Gayle Pascual and Cristy Ondangan also helped in the cause and chipped in seven points apiece.

The Lady Bombers sputtered to 3-4 but remained in Final Four contention. — Joey Villar

Flash more smiles per mile with Shell and PAL

At the signing of the partnership between Pilipinas Shell Petroleum Corp. (PSPC) and Philippine Airlines (PAL) are (from left): PSPC Payment and Loyalty Manager Kristine Cerezo, PSPC Mobility Marketing Manager Arvin Obmerga, PSPC Vice-President and General Manager for Mobility Randy Del Valle, PSPC President and CEO Lorelie Quiambao-Osial, PAL President and COO Captain Stanley Ng, PAL Vice-President for Marketing Ria Domingo, and PAL Assistant Vice-President for Loyalty Jonathan Chua. — PHOTO FROM PILIPINAS SHELL

By Angel Rivero

AS THE LIMITING effects of the COVID-19 pandemic seem to be gradually tapering off (fingers crossed), the tourism and travel sector also appear to be slowly bouncing back. For many Filipinos, the aspiration for “revenge travel” is very real! And in anticipation of that, mobility companies such as Pilipinas Shell Petroleum Corp. (PSPC) and Philippine Airlines (PAL) are drawing out their aces to offer their customers even more value when using their products.

Among the latest news is that PSPC and PAL have partnered to mutually strengthen their respective loyalty programs — namely, Shell’s Go+ points program and PAL’s Mabuhay Miles. Basically, Shell Go+ members will now be given the freedom to convert their chosen number of loyalty points into PAL Mabuhay Miles. One Mabuhay Mile can be bought with three Shell Go+ points, with the minimum required amount to transact per redemption being 30 Shell Go+ points.

“This is just the start of many things. I know that people are really starting to move,” shared PSPC’s Vice-President and General Manager for Mobility Randy Del Valle during an online press conference. “This partnership is a testament to our commitment to bring greater mobility and further accessibility by enabling Filipinos to travel beyond roads and even into the sky,” he continued.

In a symbolic ceremony, the two parties held their contract-signing at the Shell C5 Southlink premises, which also happens to offer a good view of the Ninoy Aquino International Airport.

PAL President and COO Stanley Ng pointed out that, “With the Philippines and the rest of the world opening its doors for travel, the opportunity to help people reach their desired destinations also opens.” He added, “We are optimistic that the resurgence in air travel will continue, and with support from partners like Pilipinas Shell, we can help bring more Filipinos to their destinations of choice.”

The program mechanics for this is pretty straightforward: Customers who fuel up at Shell stations and buy Shell lubricants can start collecting Shell Go+ points by first downloading the Shell Go+ App and registering an account. After the individual has accumulated a sufficient number of points, he or she may opt to exchange these points for PAL Mabuhay Miles which will be credited to the customer’s existing Mabuhay Miles account. With enough accumulated Mabuhay Miles, members may choose to redeem them for plane tickets aboard PAL flights or even for seat upgrades. For more information about the collaboration, visit www.shell.com.ph/GoPlusMabuhayMiles.

“We are in the dawn of a new era and are moving on to the next normal. I am excited for this partnership!” expressed Pilipinas Shell’s very first female President and CEO Lorelie Quiambao-Osial. She explained, “We are evolving customer experiences and needs. We continue to empower the Filipino people to live their lives. And in that sense, we look at innovations in everything we do! Enabled by technology, we are offering more and more to address the differentiating customer expectations and to delight our customers in every way.”

There are also other benefits to having a Shell Go+ loyalty account — particularly for active members — such as free insurance, free roadside assistance, and even access to special free scholarships. Moreover, customers can keep track of points, manage their profile, and make instant redemptions all instantly through an app on their mobile device. They’re a swath of rewards available at your fingertips.

Putin downplays Ukraine grain blockade, rejects claims Russia to blame

REUTERS

RUSSIAN President Vladimir Putin denied that Moscow was blocking Ukrainian grain exports and questioned the impact of missing Ukrainian agricultural goods on the world food market.

“We do not prevent the export of Ukrainian grain. The Ukrainian military has mined the approaches to their ports, no one prevents them from clearing those mines and we guarantee the safety of shipping grain out of there,” Mr. Putin said, speaking alongside visiting Indonesian President Joko Widodo.

Mr. Putin repeated Russia’s assertion that Western sanctions are to blame for problems on the global food market and rising prices.

The United Nations has said the world is facing an “unprecedented hunger crisis” due to plunging grain exports as a result of the conflict in Ukraine, and that ensuring Ukraine can export agricultural products is key to resolving the issue.

But Mr. Putin downplayed Ukraine’s impact on the global market, saying there were only 5 million tons of wheat currently stuck in the country.

“This is a quantity which does not affect the world markets in any way,” he added, saying it represented just 0.5% of global production.

The United Nations estimated in early May that 22 million tons of grain was stuck in Ukraine. Ukrainian President Volodymyr Zelenskiy said on June 6 that this could rise to 75 million tons by this autumn.

Mr. Putin also said he wanted Russia to maintain its position as the world’s largest wheat exporter. It currently accounts for around a fifth of global sales. — Reuters

Yields on government debt mixed

By Bernadette Therese M. Gadon, Researcher

YIELDS on government securities ended mixed last week as the market remained defensive after the Bangko Sentral ng Pilipinas’ (BSP) dovish move.

Debt yields, which move opposite to prices, increased by an average of 1.48 basis points (bps) week on week, based on the PHP Bloomberg Valuation (BVAL) Service Reference Rates as of July 1 published on the Philippine Dealing System’s website.

Yields were mixed across the board on Friday, with the short end of the curve ending higher. The rates of the 91-, 182-, and 364-day Treasury bills rose by 15.67 bps, 27.62 bps, and 18.71 bps week on week to 1.7829%, 2.2109%, and 2.6057%, respectively.

Yields at the belly of the curve edged lower, except for that on the two-year debt, which increased by 2.80 bps to 4.4288%. Meanwhile, rates of the three-, four-, five-, and seven-year Treasury bonds (T-bonds) fell by 2.65 bps (to 5.0833%), 10.13 bps (5.5754%), 17.16 bps (5.9411%), and 19.4 bps (6.4724%).

The long end of the curve was mixed as the 20-year debt gained 16.11 bps to yield 6.6385%, while the rates of the 10- and 25-year papers decreased by 11.01 bps (7.0278%) and 4.24 bps (6.4165%), respectively.

GS volume reached P7.51 billion on Friday, higher than the P5.25 billion seen on June 24.

“Peso bond yields ended mixed [last] week, but sentiment remained defensive over expectations for BSP policy rate to be lower than Fed by yearend,” First Metro Asset Management, Inc. (FAMI) said via Viber message.

“The relatively dovish move of BSP [on June 23] has led to further peso depreciation and widened the risk and term premiums for local bonds,” it added.

FAMI added that this resulted in the seven-year T-bonds offered last week being rejected as the market has “excessively priced risk premium.”

Likewise, a bond trader said in an e-mail that the Bureau of the Treasury’s (BTr) rejection of all bids for its T-bond offer last week triggered a rally that brought yields about 15 to 20 bps lower.

BSP Governor Felipe M. Medalla last week said the central bank may consider a more aggressive rate hike at its Aug. 18 meeting if inflation keeps its upward momentum, but noted the decision will remain data dependent.

Early in June, ahead of the US Federal Reserve’s decision to increase its own rates by 75 bps at its own meeting that month, Mr. Medalla said he is not keen on raising borrowing costs by more than 25 bps per meeting.

The BSP on June 23 raised benchmark interest rates by 25 bps for a second straight meeting to cool rising prices. At that meeting, it raised its average inflation forecast for this year to 5% from 4.6% previously, well above its 2-4% target.

Meanwhile, on Tuesday, the Treasury rejected all the offers for its offer of reissued seven-year T-bonds with a remaining life of 6.9 years and a coupon rate of 6.5% after the market asked for higher yields due to inflationary pressures and expectations of further monetary tightening.

Bids for the papers reached P62.253 billion, almost double the P35 billion on offer.

Rates bid by banks reached 6.849% to 7%. Had the BTr made a full award, the tenor would have fetched an average rate of 6.947%.

For the week, analysts said that the market will be mostly taking cues from the upcoming release of May inflation data.

The bond trader expects the curve to move sideways, adding that the maturity of three-year bonds worth P104 billion on July 4 may increase liquidity in the market.

“Inflation path would keep investors on the edge as the prints in the coming months are likely to be above 6%,” FAMI said.

“The rebound of oil prices beyond $120/bbl (barrel), the peso depreciating above P55 as well as the pass-through effects of these two would likely lead to faster clips of inflation. With that, we think that bond yields may still surprise on the upside in the third quarter,” it added.

The central bank sees headline inflation picking up further and settling within the 5.7-6.5% range in June. Inflation stood at 5.4% in May, the fastest in three and a half years.

The Philippine Statistics Authority will release June inflation data on July 5.

Shares to move sideways ahead of inflation data

PHILIPPINE STAR/KRIZ JOHN ROSALES

PHILIPPINE STOCKS may move sideways this week ahead of the release of June inflation data, which may continue to dampen investor sentiment.

The benchmark Philippine Stock Exchange index (PSEi) inched up by 9.92 points or 0.16% to close at 6,165.35 on Friday, while the broader all shares index improved by 3.89 points or 0.11% to 3,340.12.

Week on week, the PSEi declined by 52.21 points from its close of 6,217.56 on June 24.

China Bank Securities Corp. Research Director Rastine Mackie D. Mercado said the PSEi’s one-day reversal on Friday despite the substantial sell-off on Thursday underscores investors’ continuing risk aversion as growth concerns mount.

“Furthermore, we continue to view rallies as a temporary reprieve in selling pressure over the near term… For [this] week, investors will likely focus on the release of the June inflation data on Tuesday,” Mr. Mercado said.

“The market has already declined for four consecutive weeks with a total loss of 8.54%. Thus, episodes of bargain hunting could be seen in [this] week’s trading. Still, the market could move with a bearish bias due to the lingering downside risks to the local economy,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.

“Investors are expected to look towards the upcoming June inflation data. An inflation print significantly faster than May’s 5.4% could lead to more selling pressures in the market,” Mr. Tantiangco said.

He added that the peso’s poor performance last week also weighed on market sentiment, and a continued depreciation could continue to affect Philippine stocks.

“Aside from these, the market may also take cues from our upcoming labor market figures. Finally, worries over the global economy amid the monetary tightening of the Federal Reserve and rising commodity prices caused by the Russia-Ukraine war may continue to dampen sentiment,” Mr. Tantiangco said.

The Philippine Statistics Authority will release its June consumer price index report on Tuesday, July 5.

A BusinessWorld poll of 16 analysts last week yielded a median estimate of 6% for June inflation, within the 5.7-6.5% forecast given by the Bangko Sentral ng Pilipinas (BSP) last week.

If realized, this would be well above the BSP’s 2-4% target and 5% projection for the year.

In May, headline inflation was at 5.4%, fueled by rising food and transport costs.

Meanwhile, the peso closed at P55.09 per dollar on Friday, losing 11.5 centavos from its P54.975 finish on Thursday, based on Bankers Association of the Philippines data.

This was the local unit’s worst showing in more than 16 years or since it closed at P55.26 versus the greenback on Oct. 25, 2005.

Mr. Tantiangco put the PSEi’s support for the week at the 6,100 to 6,150 range and resistance between 6,350 and 6,400.

Meanwhile, China Bank Securities’ Mr. Mercado placed the PSEi’s immediate support between 6,050 and 6,100. — Luisa Maria Jacinta C. Jocson

Style (07/04/22)

Escada and Escada Sport

Longchamp presents Fall/Winter 2022 Collection

FOR the Longchamp Fall/Winter 2022 ready-to-wear collection, Creative Director Sophie Delafontaine draws from the sporty and cocooning ambiances of winter in the Alps. The collection includes pieces such as reversible gilets, blousons, coats, and quilted miniskirts. Meanwhile, the cocooning section features warm-colored plaid jackets, suits, dresses, and sweaters. Being Longchamp, the collection of course also features a new line of bags to match the season. Longchamp is exclusively available at Rustan’s Makati, Rustan’s Shangri-La, Rustan’s Cebu, Greenbelt 5 and Rustans.com.

New Balance releases Grey Day 2022 Collection

NEW Balance is celebrating Grey Day, its annual celebration of its classic and famous grey colorway. This year, the sneaker brand is coming out with three new models in different shades of grey: the 57/40, the XC-72 and the 327. To take a look at the new Grey Day line of sneakers, visit the New Balance stores in Powerplant Mall, Glorietta, Trinoma, Cebu, Bonifacio High Street, Alabang Town Center, and Ermita or join the Viber community: http://bit.ly/NBPHViber. 

Uniqlo launches campaign for a better world

GLOBAL apparel retailer Uniqlo announced the launch of Join: The Power of Clothing, a global campaign to support activities for a better world. The campaign kicked off in Japan on July 1. The aim of the campaign is to encourage customers to be a part of the environmental sustainability activities that Uniqlo conducts. The two main initiatives, conducted at both physical and online Uniqlo stores, are “Buy and Join” and “Learn and Join,” which raise awareness among customers of global problems such as ocean pollution, and inspire action to make the world a better place. As part of the campaign, Uniqlo will sell products made with 100% recycled fibers (plush toys, pocketable bags, T-shirts), featuring designs with Doraemon Sustainability Mode, the Uniqlo Global Sustainability Ambassador. Uniqlo parent company, Fast Retailing, will donate up to $1 million to the Nippon Foundation to support activities that reduce ocean waste, by donating the profits of sales of the campaign items: products made with recycled materials and Blue Cycle Jeans. Uniqlo has also opened a special website where visitors can learn about environmental issues and take action. The site includes messages from Uniqlo Global Brand Ambassadors and a video with LifeWear Special Ambassador Haruka Ayase outlining some of the brand’s sustainability focus areas. There is also a wide range of special content to learn about ocean-related issues, including an interview with biological oceanographer Ryota Nakajima, a talk with Yoko Koga on reducing the use of plastics in everyday life, and an interview with environmental specialist Dr. Keith Alverson.

Escada celebrates jet-set lifestyle

THIS season luxury apparel brand Escada focuses on modern and contemporary looks that celebrate an elegant, jet-set lifestyle. New items are coming out from both Escada and Escada Sport. Key pieces from both lines showcase soft and structured tailoring in classic neutrals and ultra-wearable essentials, from timeless separates to elegant evening wear. Escada and Escada Sport’s 2022 collection are available at the Escada boutique at Greenbelt 5, Makati.

M&S’s activewear line now at Glorietta

MARKS & SPENCER’S (M&S) Goodmove, the brand’s in-house activewear line for women, has just arrived at the M&S Glorietta branch. The products, made from lightweight sustainable recycled polyester, are designed to feel like a second skin. The collection was created with performance in mind, and there are pieces for walking, running, strength training, and gym workouts. The leggings and tops offer clever innovations such as moisture-wicking, quick-dry and breathable fabrications. Shop in-store and earn Loyalty points via the M&S Philippines Viber Community at bit.ly/MSPH-VC.

Rustan’s celebrates health in July

THIS July, Rustan’s encourages customers to remember the timeless motto “health is wealth,” by offering time-limited wellness promos and activities. Customers can channel their inner Poseidon with Speedo and get a Speedo swimming wristwatch for every single receipt worth P4,000, and a waterproof bag for every single receipt worth P6,000. Adidas, Champion, Converse, Hoka, New Balance, and Nike offer discounts of up to 50% off on selected items. On top of discounts, Nike patrons can also get a Swoosh headband for every single receipt purchase worth P1,500. Train with innovative sports apparel from Under Armour, and get 50% off on selected items, as well as an Under Armour water bottle, shaker bottle, or socks for every single receipt purchase worth P1,500. Jack Nicklaus golf gear is 50% off this month. Shoppers will get a Banz’s Sunhat with every minimum purchase of P1,500 worth of Banz products. Get a Cartridge Filter Pump by Intex with every purchase of any participating Intex product. Ensembles from Crane and Mommy Hugs are 10% off. Healthguard items are available with discounts of up to 40%. Euky Bear Cough & Cold Remedies and essential oils are 10% off. Rustan’s The Beauty Source (RTBS) is also participating, offering Heathcote & Ivory, Fruit Works, and Palmer’s products with a 10% discount. Selected fragrances from Giorgio Armani and Viktor&Rolf are at 10% off. Get exclusive gifts and offers for up to 10% off from beauty brands like Stila, L’Occitane, Acca Kappa, Sisley and Diptyque, and many more. These are just some of the specials available at Rustan’s for the whole month of July. In addition to the discounts and gifts, the department store will present special setups highlighting fitness and wellness products at the Grand Atrium of Shangri-La Plaza from July 16-31. It will also host Karatedo and Gymnastics Workshop by Madison for youngsters on July 31 at 2 p.m. The workshop is on a first come first serve basis and can accommodate up to 20 kids.

UP Diliman students win L’Oreal Brandstorm

THREE students from the University of the Philippines – Diliman won this year’s L’Oréal Brandstorm, a global innovation competition. The innovative idea of Roque Mercado, Kara Santiago, and Julianne Ong of “Roque, Paper, Sisters” won the best pitch in the Green Track, granting them the all-expense-paid three-month entrepreneurial internship at L’Oréal Group global headquarters in Paris. The team of three college students pitched the idea of Pocket Block it! Dissolving Sunscreen Wipes under the Green (Sustainability) Track which challenges participants to invent the next dimension of sustainable beauty. The product idea of Dissolving Sunscreen Wipes are sunscreen sheets that dissolve through contact with the heat and natural oils of the skin and are packaged in refillable post-consumer recycled plastic pods. This stemmed from the team’s realization that while there is a universal need for sunscreen, there are also gaps in the current market where consumers are forced to compromise between effectivity, convenience, and sustainability. With the theme “Disrupt Beauty 2030,” Brandstorm 2022 drew record-breaking participation, with more than 83,000 youth from 65 countries registered, as well earning official certification by EFMD Global as an online learning course. Nine teams representing Argentina, France, Germany-Austria, India, Indonesia, Italy, Mexico, the United States, and the Philippines advanced to the finals after 20 weeks of intense competition at both the local and international levels. At the end of the competition, three teams representing the Inclusion, Green, and Tech Tracks were selected as Brandstorm 2022 winners. As part of their entrepreneurship, the winners will continue to develop projects with support from L’Oréal.

Bicol trade fair at Shangri-La Plaza

A TOTAL of 63 Bicolano micro, small and medium enterprises are joining the Orgulo kan Bikol-Regional Fair on July 6-10 at the Grand Atrium of the Shangri-La Plaza mall in Mandaluyong. Organized by the Department of Trade and Industry Regional Office 5, the fair is an opportunity for Bicol’s home-grown entrepreneurs to promote their products and expand their networks. Handcrafted wearable and home items and food items like pili nut confections, pinangat, Bicol Express, ginger, turmeric, moringa and lemon grass brew will be available at the fair.

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