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Fight against AIDS, TB and malaria bounced back post-COVID — but not enough

Image via Basem Abbas Al Ubaidi/CC BY 4.0/Wikimedia Commons

LONDON — Efforts to tackle AIDS (acquired immunodeficiency syndrome), tuberculosis (TB), and malaria began to recover last year after being hit hard by the coronavirus disease 2019 (COVID-19) pandemic in 2020, but the world is still not on track to defeat these killer diseases, according to a report.  

In its 2022 report, released on Monday, the Global Fund to Fight AIDS, Tuberculosis and Malaria said the numbers of people reached with treatment and prevention efforts rebounded last year after declining for the first time in almost 20 years in 2020.  

However, all the ground lost has not been regained, said Peter Sands, head of the Fund, a public/private alliance based in Geneva.  

“Most countries have done an impressive job of bouncing back from the terrible disruption of 2020 … but we are not where we want to be. Far too many people are still dying of these diseases,” he told Reuters last week.  

For example, the numbers treated for tuberculosis fell by 19% in 2020, to 4.5 million. In 2021, this went back up by 12%, to 5.3 million — still just below the 5.5 million on treatment pre-pandemic. While malaria and AIDS programs did exceed 2019 levels, the pandemic’s impact means they are still off-track on the aim of ending the diseases by 2030.  

Mr. Sands also warned that the impact of the global food crisis, exacerbated by Russia’s invasion of Ukraine, would make the situation worse.  

Infectious diseases are usually much deadlier for people whose bodies are weakened by malnutrition, and they also do not respond as well to treatment or prevention efforts. As such, Mr. Sands said it was “likely” that the Fund would have to work with partners to provide more nutritional support than it ever has before in order to continue to save lives.  

The report estimates that the Fund’s work with countries has saved around 50 million lives since its inception in 2002. It spent $4.4 billion to mitigate the impact of COVID-19 on its key areas, and fight the pandemic, from March 2020 on.  

To continue its work, the Global Fund is now aiming to raise $18 billion for its next three-year funding cycle, from governments, civil society and the private sector. It has already raised more than a third of the total and there are plans for a pledging conference next week, hosted by US President Joseph R. Biden, Jr. — Reuters

EU regulator backs Pfizer/BioNTech BA.4/5-adapted COVID booster

REUTERS

THE European Medicines Agency (EMA) on Monday recommended a coronavirus disease 2019 (COVID-19) booster designed to combat the currently circulating Omicron BA.4/5 subvariants, days after endorsing a pair of boosters tailored to target the older BA.1 Omicron variant.  

The latest recommendation is for a so-called bivalent vaccine developed by Pfizer and BioNTech, which targets BA.4/5 as well as the strain of the virus that originally emerged in China in December 2019 targeted by earlier COVID vaccines.  

The EMA recommendation is to authorize the retooled booster shots for people aged 12 and above who have received at least primary vaccination against COVID. The final go-ahead will be subject to European Commission approval, which is expected to come in shortly.  

If authorized, the BA.4/5-tailored booster will be available in days to all 27 European Union (EU) member states, Pfizer said in a statement on Monday.  

While existing coronavirus vaccines provide good protection against hospitalization and death, their effectiveness, particularly against infection, was reduced as the virus evolved.  

Earlier this month, the EMA endorsed both Pfizer-BioNTech and Moderna’s vaccines updated for BA.1.  

EU officials signaled in recent months they were open to initially using boosters targeting the older BA.1 variant, given those specifically targeting the newer, now dominant Omicron BA.4/5 offshoots are further behind in development.  

In contrast, the US Food and Drug Administration insisted it was only interested in vaccines targeting BA.4/5. Last week, Pfizer-BioNTech and Moderna secured US authorization for those despite limited available clinical data.  

Given BA.1’s earlier emergence, data from human trials testing those redesigned vaccines has been submitted to EU regulators. For the BA.4/5 adapted vaccines, regulatory submissions are largely based on lab and animal studies.  

Using animal and lab data to solicit regulatory approval is done regularly for flu vaccines that are revamped each year to combat the latest circulating strains.  

On Monday, the EMA said its backing of the Pfizer-BioNTech updated BA.4/5 shot relied partly on data from human clinical trials available on the companies’ BA.1-tailored vaccine.  

A clinical trial testing the Pfizer-BioNTech BA.4/5 vaccine in humans was initiated in early September, and data should be available later this autumn. Meanwhile, human trial data on Moderna’s BA.4/5 shot is expected by later this month or early October.  

EU officials have encouraged member states to roll out boosters of the established original vaccines and the bivalent shots — whatever is readily available — for the vulnerable and elderly following a rise in summer infections, as protection waned due to the domination of BA.4 and especially BA.5.  

Uptake could be limited, as people have become less worried about the disease, thanks in large part to the success of the first generation of shots. Experts also worry that the public may be suffering from vaccine fatigue and less likely to seek the boosters, which could be a fourth or fifth COVID shot for some. — Reuters 

PLDT and Smart launch integrated operations center  

PLDT, Inc. and Smart Communications, Inc., launched on Tuesday their integrated operations center in Makati City that can quickly identify areas hit by services outages.

“This cutting-edge facility is the latest testament to the commitment of the PLDT Group to be at the forefront of innovation in the country,” said PLDT Senior Vice-President Mario G. Tamayo, delivering a message on behalf of PLDT Chairman Manuel V. Pangilinan.

National Telecommunications Commission Deputy Commissioner Edgardo V. Cabarios said that the integrated operations center will intensify PLDT and Smart’s services.

“The operations center covers the entire network. If there are problems it will be easy to identify,” Mr. Cabarios said.

The operations center is equipped with network monitoring and multimedia conferencing facilities, including a video wall that displays various network dashboards for immediate identification of areas affected by service outages

Mr. Tamayo said that the integrated operations center will oversee the operations and monitor the performance of PLDT’s extensive fiber infrastructure and the wireless facilities of Smart.

“We are also contributing greatly to helping the government realize its ambition to improve the country’s digital infrastructure, making available the best of our technologies to put the Philippines at par with the rest of Asia,” Mr. Tamayo said.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — A. E. O. Jose

Treasury makes full award of new 10-year bonds on strong demand

BW FILE PHOTO

THE GOVERNMENT fully awarded the fresh Treasury bonds (T-bonds) it offered on Tuesday on strong demand for higher-yielding instruments amid expectations of more rate hikes in the United States.

The Bureau of the Treasury (BTr) raised P35 billion as planned via the fresh 10-year T-bonds it auctioned off on Tuesday, with total tenders reaching P99.311 billion or almost thrice the amount on offer.

The debt papers were awarded at a coupon rate of 6.75%, just 15.02 basis points (bps) higher than the 6.6% quoted for the 10-year tenor at the secondary market before the auction, based on the PHP Bloomberg Valuation Reference Rates data provided by the Treasury.

This was likewise 14.1 bps above the 6.609% seen for the 10-year T-bond first issued on June 23 (FXTN 10-68) at the secondary market ahead of Tuesday’s auction.

Accepted rates ranged from 6.5% to 6.8% for an average of 6.703%.

To accommodate the high demand and take advantage of the relatively low rate seen for the bonds, the Treasury offered another P10 billion in the papers via its tap facility.

National Treasurer Rosalia V. de Leon said in a Viber message to reporters after the auction that the government made a full award of its T-bond offer as “strong demand kept rates within secondary market levels.”

This, “even with hawkish statements from the Fed (US Federal Reserve) and its commitment to bring inflation back to its 2% target,” Ms. De Leon said.

Traders said the auction result shows the market’s preference for longer tenors that have better returns.

“Results surprised as the coupon rate was at the lower end of expectations. There are speculations that inflation in the US may be nearing its peak already and this has improved sentiment for bonds,” the first trader said.

“Moreover, investors are seen stretching their duration in exchange for relatively higher yields,” the first trader said.

The second trader likewise said the auction result was “nothing surprising” as investors want longer tenors for yield pickup, with strong demand for 10-year papers also seen at the secondary market last week.

Fed Chair Jerome H. Powell last week said the US central bank is “strongly committed” to fighting inflation and needs to continue acting strongly to bring prices down.

The US central bank will meet to review policy on Sept. 20-21, where markets expect another aggressive hike. It has raised rates by 225 bps so far since March, including back-to-back 75-bp hikes in June and July.

The August US consumer inflation report is set to be released overnight. In July, consumer inflation in the US slowed to 8.5% from an over 40-year high of 9.1% in June.

At home, the Bangko Sentral ng Pilipinas (BSP) is also in the middle of tightening its policy settings to rein in rising inflation and has raised benchmark rates by 175 bps since May. The Monetary Board’s next meeting is on Sept. 22.

BSP Governor Felipe M. Medalla earlier said the central bank may need to respond if the Fed remains hawkish, as its spillover effects on the market, especially the peso, could affect inflation.

Headline inflation eased to 6.3% in August from 6.4% in July. This brought the eight-month average to 4.9%, higher than the central bank’s 2-4% target but still below its 5.4% forecast for the year.

Meanwhile, the peso on Sept. 8 logged a new all-time low of P57.18 against the dollar following six straight sessions of decline. It has since recovered and is now back at the P56 level.

The BTr wants to raise P200 billion from the domestic market in September, or P60 billion via Treasury bills and P140 billion through T-bonds.

The government borrows from local and external sources to help fund a budget deficit capped at 7.6% of gross domestic product this year. — Diego Gabriel C. Robles

TP stages family drama

A MUSICAL play which banners peace through the intertwining of conflicts in a folk tale, stark social realism, and a family drama is how Tanghalang Pilipino (TP) returns to the live stage for its 36th season.

After its online showcase of Doc Resurreccion: Gagamutin ang Bayan, TP is staging Anak Datu, a play based on a story by National Artist for Visual Arts Abdulmari Imao., as the second offering of its 36th season. The play will run from Sept. 16 to Oct. 9, and is the maiden production at the newly built Tanghalang Ignacio Gimenez (Black Box Theater) at the Cultural Center of the Philippines (CCP).

The play includes music by a kulintang ensemble, experimental music by Chino Toledo, chanting and singing by some of the actors, as well as the dance styles from Mindanao and their martial arts tradition.

The story was written by Mr. Imao in 1968, before the birth of his first son Abdulmari “Toym” Imao de Leon, Jr.

Prior to the coronavirus pandemic, Mr. Imao pitched the short story that his father wrote to Tanghalang Pilipino. According to Mr. Imao Jr., TP found the story interesting enough to be adapted into a full-length production. Since its staging was put on hold because of the pandemic, meetings via Zoom between Mr. Imao and the rest of the creative team saw the direction of the story evolve, until it was decided to adapted it into a straight play with music.

“Rather than just deal with the mythology, [playwright] Rody Vera intertwined the story of the Bangsamoro conflict and how the Moro people were affected in reference to the [Marcos] dictatorship. At the same time, he weaved our family’s story into it,” Mr. Imao Jr. told BusinessWorld during the opening of the artist’s exhibition at the Podium on Sept. 7.

Anak Datu is a story about the son of a village chieftain in the Sulu Archipelago in pre-colonial Philippines. Before he is born, the village is raided by pirates and his mother gives birth in captivity. The protagonist grows up believing that his father is a former pirate. When the old man dies, the son discovers the truth about his real father.

Award-winning veteran playwright Rody Vera’s stage adaptation of this short story sets it adjacent to other events in the history of Mindanao and the personal lives of Abdulmari Imao’s family.

The final version is being directed by former CCP Artistic Director and Vice-President Chris B. Millado who said that the story weaves together three layers of myth, memory, and history.

The myth is evident through the mythical story of Mr. Imao’s original text, memory with the inclusion of the Imao family’s story, and history through the lives of the Tausug community in the pre-colonial period.

“We started dealing with the adaptation of Rody Vera of the tale and a lot of documentary films about crucial events on the conflict in Mindanao. About the family, a lot of storytelling came from Toym [Imao] himself,” Mr. Millado told BusinessWorld over the weekend at Dapitan, Zamboanga del Norte during the Cinemalay 18: Festival of Winners.

The play was originally planned as an immersive staging in various rooms but changed to traverse staging. “We will use traverse staging and our action moves like a flow, like a river,” Mr. Millado said.

Playing the young Abdulmari is TP Associate Artistic Director Marco Viaña. TP Artistic Director Fernando “Nanding” Josef plays Jibin Arula.

Other major roles are played by TP Actors Company senior members Antonette Go (Imao’s wife Grace de Leon), Lhorvie Nuevo (Putli Loling); TP guest artists Tex Ordoñez-de Leon (Putli Loling), and Carlos Dala (Binatang Karim/Toym Imao).

Also in the artistic staff is composer and musical director Chino Toledo. The show’s choreographer is young Maranao artist Hassanain Magarang of Sining Kambayoka who also plays the role of Datu Karim. Mr. Imao Jr. designed the sets, while the costume design is by John Carlo Pagunaling, sound design and engineering is by TJ Ramos, lighting by Katsch Catoy, and projection design by GA Fallarme.

For tickets contact 0915-607-2275 or e-mail tanghalangpilipinomarketing@gmail.com. — Michelle Anne P. Soliman

Dropping mask mandate will ‘weaken’ vax program — PCP

PHILIPPINE STAR/EDD GUMBAN

The Department of Health will conduct a national vaccination drive against coronavirus disease 2019 (COVID-19) from Sept. 23 to 30 since the daily jab targets among senior citizens and those eligible for their first booster dose have not been met.

Dubbed Bakunahang Bayan: PinasLakas Vaccination Days, the campaign follows the end of the mandatory use of face masks outdoors on Sept. 12.

Loosening mask-wearing requirements gives the impression “that you should not be afraid of COVID-19,” said Dr. Ma. Encarnita “Maricar” B. Limpin, immediate past president of the Philippine College of Physicians (PCP).

“That will weaken the program,” she said in a Sept. 8 event organized by the PCP prior to the signing of the executive order that scrapped the mask mandate.

Just over two percent — or 2.48% — of senior citizens have completed their primary series as of Sept. 5, said Dr. Imran Rodriguez, Medical Officer III of the Department of Health (DoH).

Jabbing this population has proven to be “very challenging,” he added, as efforts have already been stretched looking for the unvaccinated senior citizens and giving them their first dose of the primary series, to enable their eligibility for the second dose.

More than a million individuals in this category have yet to complete the last dose of their primary series, he added.

Meanwhile, there are members of the general population who have completed their primary series but have become complacent, Dr. Rodriguez said.

“The booster doses are still far from our targets, with NCR [the National Capital Region] as the only region almost reaching the targeted 50%,” he added.

The PinasLakas campaign was launched by the National Government on July 26 with the aim of fully vaccinating 90% of senior citizens (a total of 1,074,110 recipients), and increasing booster dose coverage to 50% of the total target population (23,840,032 recipients) before Oct. 8, which marks the first 100 days of the Marcos administration.   

“We have reports that some individuals and healthcare workers are still hesitant to get vaccinated with vaccines that had their shelf lives extended,” Dr. Rodriguez said. “The labels of the vaccines can’t be hampered, hence the need to explain that the vaccines have an extended shelf life even if the label has a due expiring date.”

The US Food and Drug Authority (FDA) has extended the expiration date of the Pfizer-BioNTech COVID-19 vaccine PBS/Sucrose formulation to 12 months from 9 months when stored between -90°C to -60°C. It has also authorized an extension for the shelf life of the refrigerated Janssen COVID-19 Vaccine, allowing the product to be stored at 2°C–8°C for 11 months.

Current vaccines are highly effective at protecting against severe disease and death, according to Dr. Anna Lisa Ong-Lim, a pediatric infectious disease expert from the University of the Philippines-Philippine General Hospital.

Dr. Ong-Lim cited a review that she and 21 other medical professionals did of the 52 studies on the International Vaccine Access Center (IVAC) database that evaluated the effectiveness of booster doses.

The September study, available as a pre-print, found that vaccine effectiveness for Pfizer-BioNTech, Moderna, AstraZeneca, Sinovac, and Janssen is 84.2% for the general population, and 87.4% for the elderly (over 60s).

It also found that all boosted COVID-19 vaccines show a high effectiveness against Omicron-related severe disease and death.

Three doses of the reviewed vaccines provided equivalent protection against severe disease and death when used as a homologous schedule, the experts noted. Three doses of the reviewed vaccines likewise provide equivalent protection against severe disease and death when used in a mixed schedule.

The study concluded there is no need to wait for the development of variant-specific vaccines, and that “booster programs should be expanded and be flexible, incorporating different vaccines into schedules according to local supply and logistical considerations.” — Patricia B. Mirasol

Arts & Culture (09/14/22)

FACEBOOK.COM/ORTIGAS.FOUNDATION

Manansala, Zalameda highlight Salcedo Auctions

THE SALCEDO Auctions 8th edition of its marquee The Well-Appointed Life auction presents a selection from 13 of the country’s 17 National Artists for Visual Arts on Sept.17, 2 p.m. The pieces presented in the sale are classified into items on “Important Philippine Art,” “Connoisseur Collection,” and “Fine Jewelry & Timepieces.” Among the highlights of the auction are an untitled Vicente Manansala piece; two Ang Kiukok PAG-era oils once owned by an ex-CIA agent and diplomat; and Fernando Zobel’s first painting; and the largest Oscar Zalameda offered for auction. Register to bid and browse the catalog at salcedoauctions.com. The auction preview runs daily from 9 a.m. to 5 p.m. at NEX Tower, 6786 Ayala Ave., Makati City.

Mula sa Buwan reschedules final weekend

AFTER the cancellation of the final shows of the musical Mula sa Buwan after a cast member tested positive for COVID-19, the final weekend of performances has been rescheduled for Sept. 16 to 18. Refunds are now available on TicketWorld (premier.ticketworld.com.ph). Mula sa Buwan is based on Cyrano de Bergerac. With a book and lyrics by Pat Valera and original music and lyrics by William Elvin Manzano, the musical is set in Manila during World War II, and tells the story of a young cadet, playwright, and poet named Cyrano who falls in love with his childhood best friend Roxane. His extremely large nose hinders him from confessing his love to her, so instead helps handsome cadet Christian court her using his own words. The musical stars Myke Salomon, Gab Pangilinan, and Markki Stroem. For more information, visit www.facebook.com/mulasabuwan/.

ArtistSpace presents group show

“LIMITLESS” is a group exhibition of artists from different parts of Luzon, and Ilonggo artists from Visayas. It will be on view from Sept. 20 to Oct. 3 with an Artists’ Reception on Sept. 20 at 6 p.m. at the ArtistSpace, located at Ground Level, Ayala Museum Annex, Makati Ave. corner De La Rosa St., Greenbelt Park, Makati City. “Limitless” is a “coming together” showcase of visual artists from different parts of Luzon, and Ilonggo artists who have been locked down by the restrictions implemented during the height of the COVID-19 pandemic. The exhibition aims to bring the art industry back on track, inspiring fellow artists to go back and beyond what they have reached and accomplished. The exhibit features works by 97 artists including Art Lozano, Richard Buxani, Rex Tatlonghari, Sultan Mang-osan, and Undo Berto. The gallery is open daily from 11 a.m. to 8 p.m. Admission is free.

Rediscover Metro Manila through the LRT

IN CELEBRATION of National Tourism Month, private operator of LRT-1 Light Rail Manila Corporation (LRMC), teamed up with Urban Sketchers Quezon City and the Fujifilm XA-3 Community Philippines to help more Filipinos in rediscover the beautiful and historic places in Manila that are easily accessible by taking the LRT-1. The celebration kicked off with the “LRT-1 ikotMNL Sketch Walk: Urban Sketchers QC goes to Manila” on Sept. 10. The next event is “LRT-1 ikotMNL Photo Walk with Fujifilm XA-3 Community Philippines,” showcasing colonial architecture, historical open spaces, and other Instagram-worthy tourist destinations in Manila, on Sept. 17. “Participants in the photo walk will get the chance to join different photographers in exploring the best of Manila and inspire people to communicate hope through photos that feature ecological, cultural, and historical tourism,” said a statement. The event is open to all aspiring and professional photographers, whether Fujifilm XA-3 users or not. Interested individuals for the photo walk should pre-register online by visiting bit.ly/lrt1ikotmnlphotowalk2022. The photo walk will visit three LRT-1 stations, namely United Nations, Central Terminal, and Carriedo, which are known for many nearby interesting tourist sites. The LRT-1 ikotMNL Tourism Month celebration will culminate with a pop-up exhibit that will bring together the stories, sketches, and photographs from the sketch walk and photo walk activities. The exhibit will be at the LRT-1 Doroteo Jose Station, and will open on World Tourism Day on Sept. 27, and run until Oct. 31.

Performances, panels at Manila Int’l Book Fair

A CREATIVE performance featuring the contributors of the climate literature anthology Harvest Moon will be held on Sept. 15, 2 p.m., while a panel discussion on climate science, eco-art, and eco-poetry will be held on Sept. 17,  2 p.m. The performance features Padmapani L. Perez and Drum Circle PH musicians/performers led by Jayson Gidore, together with Roland Seblario, Bryan Paler, Aurhea Dagnalan, and Benedick Amurao. Organized by the Agam Agenda, the two events celebrate the Harvest Moon anthology of climate poems and stories, as part of this year’s Manila International Book Fair (MIBF) to be held at the SMX Convention Center Manila, Mall of Asia Complex, Pasay City from Sept. 15 to 18.

Filipinas Heritage Library holds webinar on WWII

THE FILIPINAS Heritage Library and the US Embassy present a free webinar, “The War and Transformation of the American Community in the Philippines” with Joseph P. McCallus. The webinar is part of Liberation: War & Hope, a series of events in commemoration of the 75th anniversary of the end of World War II. It will be held on Sept. 24, 9-11 a.m. (Philippine time) onlive via Zoom and Facebook Live. The webinar will tackle cultural evaporation. The American community, once a large, vibrant, and historically important group of expatriates, was drastically changed by the war years and a variety of postwar events. This discussion will chart that change from the beginning of the American expatriate experience in 1900 to the present.

Museo Pambata reopens

AFTER A two-year hiatus, the interactive children’s museum, Museo Pambata reopens on Sept. 25. The entrance fee is P450 per person. Museo Pambata is located at Roxas Blvd. corner South Drive, Manila (next to the US Embassy). It is open from 10 a.m. to 4:30 p.m. For more information, visit Museo Pambata on Facebook. Reserve slots at bit.ly/MP_Reopening.

Rep presents major musical, Carousel

AFTER being derailed by the start of the COVID-19 pandemic, Repertory Philippines will finally stage its production of the Broadway hit, Carousel. Directed by Toff De Venecia, the Rodgers and Hammerstein musical, starring Karylle Tatlonghari and Gian Magdangal, will run from Nov. 26 to Dec. 18, at the Cultural Center of the Philippines new black box theater, the Tanghalang Ignacio Gimenez. A story about a whirlwind romance between carnival barker Billy Bigelow and millworker Julie Jordan, it features some of musical theater’s most timeless music and iconic songs including “If I Loved You” and “You’ll Never Walk Alone.” “Today, we stand on the shoulders of giants and take on the challenge of reimagining this classic musical for contemporary Filipino audiences,” Mr. De Venecia said in a statement. “Featuring new artistic voices and talent as well as post-modern perspectives, the team boldly dreams up what ‘the best musical of the 20th century’ might look like today. It’s a radical departure from previous iterations, even from what we set out to do in 2020. We draw inspiration from Filipino creativity and the words of the original choreographer and dancer Agnes de Mille — that is, ‘taking leap after leap in the dark.’ This will be the ultimate 21st century test for a 20th century text.” Carousel was originally slated for a May 2020 debut, also with Mr. De Venecia at the helm. Tickets will be available through the CCP Box Office, TicketWorld, and SM Tickets, with prices ranging from P1,000 to P3,000. For queries, message Repertory Philippines on its Facebook page or through Instagram, or e-mail info@repphil.org.

Ortigas Library has gift items based on collection

THE ORTIGAS Foundation Library has over 23,000 volumes of Filipiniana on its shelves. To further promote the appreciation of Philippine history, it produces unique items featuring its special and rare Filipiniana collections that are perfect gifts and giveaways for all occasions, ranging from bags and shirts, to premium scarves and stationery items. The shop also has a book section with lots of interesting finds. Purchasing the fundraising items or availing the library’s conservation services also helps the Foundation sustain the operation of the library and continue the cultural, educational, and development programs. The library is at the 2nd Floor of the McKinley Bldg. (above Unimart) at the Greenhills Shopping Center, San Juan City. It is open from Monday to Friday, 8 a.m. to 5 p.m. For details call the Library Shop at 0947-426-1432 (Library Shop) or e-mail santosjd@ortigasfoundation.com.ph or visit https://www.facebook.com/Ortigas.Foundation/shop/ or https://ortigasfoundationlibrary.com.ph/shop. For more information on past and ongoing projects, visit the website www.ortigasfoundationlibrary.com.ph.

Zara Carbonell’s Lost You, Found Me now an eBook

LOST YOU, Found Me by beauty queen and entrepreneur Zara Carbonell is a book extolling the virtues of self-love. Drawing from her personal experiences, Ms. Carbonell uses her book as an opportunity to illustrate how even painful personal experiences can pave the way for personal growth and an improved relationship with oneself. The book’s publisher, Bookshelf PH, recently launched the title’s ebook version which will be available on the Bookshelf PH website, where it will be ready to be downloaded and ordered as a physical copy. Order the physical and eBook copies of Lost You, Found Me on bookshelf.com.ph.

Landers to open in Megaworld’s Bacolod township

MEMBERSHIP shopping store Landers Superstore is set to open its first store in Western Visayas inside a township built by listed property developer Megaworld Corp.

“We are very happy and excited to host another Landers in our township. This time, inside The Upper East township in Bacolod, which is envisioned to be Bacolod’s newest central business district,” said Graham M. Coates, first vice-president and head of Megaworld Lifestyle Malls, in a press release on Tuesday.

“This will be one of our anchor commercial establishments that will be directly connected to our iconic Upper East Mall,” Mr. Coates said.

The store will be Landers’ second one outside Luzon. It will sit on a 25,000-square-meter or 2.5-hectare property along Upper East Avenue across Two Regis and Herald Parksuites and integrated into where centuries-old trees are preserved.

“This premier membership shopping store will be directly connected to the west wing of the soon-to-rise three-level Upper East Mall via a 30-meter long bridgeway,” Megaworld said.

The store will feature its own Caltex gas station where “members can enjoy unrivaled exclusive discounts on fuel products.”

Landers Upper East will have a parking area designed to accommodate more than 300 vehicles at a time and with permeable paver blocks “for better rainwater retention.”

The store will host sustainable features including high bay LED lighting fixtures, energy-efficient air-conditioning units, and a rainwater collection system that will allow the harvesting of water for later use.

The Bacolod branch is the fourth Landers store hosted by Megaworld, after Landers Alabang West, Landers Arcovia City and Landers Uptown Bonifacio.

“Our strategic partnership with Landers has gone a long way. They are an important component of our rising modern townships,” Mr. Coates said.

Landers said that Bacolod stood out among other cities in the region for its “tremendous” economic growth over the years and its “solid” reputation.

“The retail chain also noted the increasing demand for premium goods and experiences from the city’s growing population, ensuring a steady market for its core business,” the company said.

The opening of the store is expected to provide employment to the local workforce and bring in investments.

“The opening of this new branch is expected to generate about 500 jobs from construction phase to its full launch,” the company added.

“Residents and visitors of the City of Smiles will have more reasons to smile because they can finally enjoy Landers’ full range of topnotch products, great deals, and exclusive perks closer to home,” said Landers.

On Tuesday, shares in Megaworld slipped by five centavos or 2.03% to P2.41 apiece. — Justine Irish D. Tabile

BPI launches new loan products tailored for small and medium businesses

BANK of the Philippine Islands (BPI) has launched new loan products and programs targeted for small and medium enterprises (SMEs), it said in a statement on Tuesday.

The new products are the Ka-Negosyo Credit Line, the Ka-Negosyo Ready Loan, the Ka-Negosyo SME Loan, and the Property Acquisition Loan.

“While Filipino SMEs are seen as important drivers of our country’s economic growth, they tend to be more vulnerable to market headwinds and volatility, as well as industry disruption and competition. They need support from various sectors in the ecosystem to survive and thrive,” BPI Business Banking Head Dominique R. Ocliasa was quoted as saying.

“With BPI Business Banking’s business solutions and knowledge resources for SMEs, BPI continues to reinvent itself to offer client experiences designed to address their current realities, stay relevant, and provide real value to its key stakeholders,” Ms. Ocliasa said. “With resilience, agility, and foresight, BPI is carrying on its rich heritage of banking excellence and innovation by reinventing banking for a more inclusive and better Philippines.”

The Ka-Negosyo Credit Line can be used at any time through a standby checkbook for recurring business expenses such as raw materials and finished goods inventory, employee wages, utilities, equipment repair and maintenance, and sales or distribution costs.

On the other hand, the Ka-Negosyo Ready Loan is for SMEs with seasonal working capital requirements, such as supplies and inventory for Christmas and holidays, harvest seasons, or peak business seasons as it gives a business owner flexibility in managing cash flow. Its shorter repayment period is designed for cyclical funding needs.

Meanwhile, the Ka-Negosyo SME Loan is offered to SMEs in need of capital to expand product lines and purchase equipment, among others. Payments are made on a monthly basis and can be stretched for longer terms. There is an option to take out the loan with or without collateral, BPI said.

Similarly, the Property Acquisition Loan is for SME expansion but for assets purchases and construction. The payment period can likewise be spread over the long term and as the asset earns more profits for the business.

Processing fees for SMEs interested in availing of the Ka-Negosyo Credit Line and Property Acquisition Loan will be waived at BPI’s upcoming Ka-Negosyo Festival from Sept. 15 to Oct. 15. — D.G.C. Robles

Looking out for those who are not coping 

UNSPLASH

More than 700,000 people die due to suicide each year and almost 77% occur in low and middle-income countries (LMICs), according to the World Health Organization (WHO). 

In the Philippines, the suicide rate in 2019 was 2.5 per 100,000 population, according to the Department of Health (DoH). However, the number of suicide cases in the country went up considerably during the first year of the coronavirus disease 2019 (COVID-19) pandemic. Data from the Philippine Statistics Authority (PSA) showed that deaths due to intentional self-harm recorded a 57.3% increase to 4,420 in 2020 from 2,810 in 2019. 

The WHO noted that the pandemic is increasing demand for mental health services. Bereavement, isolation, loss of income and fear are triggering mental health conditions or exacerbating existing ones. Many people may be facing increased levels of alcohol and drug use, food overindulgence, insomnia, and anxiety. Stigma related to COVID-19 infection may also lead to feelings of isolation and depression. 

On Sept. 10, the International Association for Suicide Prevention (IASP) in partnership with the WHO led the global observance of World Suicide Prevention Day. The annual event raises awareness of suicide and promotes action through proven means that will reduce the number of suicides and suicide attempts globally. As with last year’s celebration, this year’s theme was “Creating Hope Through Action.” 

“Suicide can affect every one of us. Each and every suicide is devastating and has a profound impact on those around them. However, by raising awareness, reducing the stigma around suicide and encouraging well-informed action, we can reduce instances of suicide around the world,” IASP said. 

IASP urges everyone to look out for those who are not coping — a family member, friend, colleague or even a stranger.  

Warning signs of suicide include hopelessness; rage; uncontrolled anger; seeking revenge; acting reckless or engaging in risky activities, seemingly without thinking; feeling trapped like there’s no way out; increased alcohol or drug use; eating more than usual; withdrawing from friends, family and society; anxiety; agitation; inability to sleep or sleeping all the time; and dramatic mood changes. 

When people see an individual who may be at risk of suicide, they are often reluctant to intervene, for many reasons, including a fear of not knowing what to say.  

It is important to remember that you don’t need to have all the answers, and there is no specific formula, IASP said. “Individuals in distress are often not looking for specific advice. Empathy, compassion, genuine concern, knowledge of resources and a desire to help are key to preventing a tragedy.” 

Another factor that prevents people from intervening is the worry of making the situation worse. There is a myth that suggests talking about suicide may instigate vulnerable individuals to contemplate the idea or trigger the act. Evidence suggests that this is not the case, according to IASP. 

Offering support and listening are more likely to reduce distress in vulnerable individuals, as opposed to exacerbating it. Listening with compassion, empathy and a lack of judgement can help restore hope. “We can check in with them, ask them how they are doing and encourage them to tell their story. This small gesture goes a long way,” IASP said. 

Earlier this year, the DoH issued Administrative Order No. 2022-0004 stipulating guidelines for the ethical and responsible reporting of suicide in the news and broadcast media, and portrayal in films, stage, and television, as part of its efforts on suicide prevention. 

“It is important that those at risk are not exposed to articles or movies that encourage or give instructions on suicide. These guidelines are one of our interventions for suicide prevention as the Department continues to develop and implement its National Strategic Plan for Suicide Prevention and Control,” said then Health Undersecretary Maria Rosario S. Vergeire. 

If you or anyone you know is in need of emergency mental health support, you may contact the National Center for Mental Health (NCMH) Crisis Hotline at 1553, its Luzon-wide landline; 0917-8998727; 0966-3514518; or 0908-639-2672. The hotline provides free assistance 24 hours a day, seven days a week to individuals with mental health problems, especially those who are going through a crisis and are at risk of suicide.  

  

Teodoro B. Padilla is the executive director of the Pharmaceutical and Healthcare Association of the Philippines (PHAP), which represents the biopharmaceutical medicines and vaccines industry in the country. Its members are at the forefront of research and development efforts for COVID-19 and other diseases that affect Filipinos. 

PT&T board approves capital increase to P16.4B

PHILIPPINE Telegraph and Telephone Corp. (PT&T) said on Tuesday that its board of directors had approved an increase in its authorized capital stock to P16.4 billion.

In a regulatory filing, PT&T said the amendment to the company’s articles of incorporation was decided on July 27. It said the capital hike from P11.8 billion was meant to accommodate the issuance of additional preferred shares.

The removal of the restriction on foreign ownership in common stocks is intended to increase the number of potential investors and raise additional funds for business operations, the company said.

The authorized capital stock is divided into 1.5 billion shares of common stock at P1 per share; 230 million serial cumulative convertible redeemable preferred stock at P10 per share; 7.456 billion series “A” serial redeemable preferred stocks at P1 per share; 4.292 billion series “B” serial redeemable preferred stocks at P1 per share; and 852 million series “C” serial redeemable preferred stocks with a par value of P1 per share. — A. E. O. Jose

Declining reserves spell risks for emerging Asian currencies

EMERGING ASIAN central banks have seen a sharp depletion in their foreign exchange reserves, stoking concerns it may crimp market interventions to curb currency losses in the face of the mighty dollar.

A closely watched measure of reserves cover — the number of months of imports a country can finance with its foreign exchange (FX) holdings — has dropped to about seven for EM Asia ex-China, the lowest since the global financial crisis in 2008, according to Standard Chartered Plc. It was about 10 months at the beginning of the year and as high as 16 in August 2020, pointing to an erosion of developing nation firepower to defend currencies.

“The deterioration indicates that central bank intervention to support local currencies might be much more limited going forward,” Divya Devesh, head of Asean and South Asia FX research at Standard Chartered in Singapore said last week. “Overall, we expect central banks’ FX policy to turn less supportive.”

Thailand saw the biggest drop in reserves as a percentage of the gross domestic product, followed by Malaysia and India, according to data compiled by Bloomberg. Reserves cover about nine months of imports for India, six for Indonesia, around eight for Philippines and seven for South Korea, Standard Chartered said.

Central bankers across emerging Asia have relied on reserves to protect their currencies against a resurgent dollar as aggressive Federal Reserve policy tightening spurred flows back to the US. Any indication of a slowdown in market interventions may exacerbate losses for Asian currencies, many of which hit record or multi-year lows recently.

Central bank interventions may also see a change — from dollar sales to purchases — as their focus is likely to shift from containing imported inflation to boosting export competitiveness if Asia’s exports come under pressure, said Devesh.

Using the drop in reserves as a proxy for FX intervention, India and Thailand have been among the most aggressive, with reserves declining by about $81 billion and $32 billion, respectively, this year. Reserves dropped by $27 billion in South Korea, $13 billion in Indonesia and $9 billion in Malaysia.

Part of the decline was also due to dollar strength eroding the value of other currencies held in reserves.

“On current burn rates, Thailand remains worrying as does the Philippines, India, Indonesia, and even Malaysia is becoming a bigger concern than it was earlier,” said Vishnu Varathan, head of economics and strategy at Mizuho Bank Ltd. in Singapore.

Still, emerging Asian markets remain in better shape than in previous crises having built up higher buffers. Investors have been turning to these markets in recent months, optimistic they can offer faster growth, policy support and potentially higher returns.

The dollar surge has led to China’s yuan edging close to the key 7 level, while the risk-sensitive Korean won weakened to levels not seen since 2009. The Indian rupee and the Philippine peso hit record lows recently. Emerging Asian currencies traded mixed on Tuesday and the dollar extended declines as investors awaited US inflation for clues on interest-rate hikes.

Authorities in the region have ratcheted up their verbal interventions. Bank of Japan Governor Haruhiko Kuroda last week joined a number of officials expressing concern over sudden moves in the yen. Reserve Bank of India Governor Shaktikanta Das said the authority is in the currency market almost everyday, while the Bank of Korea said it will take active stabilization measures.

“They are between a rock and a hard place,” said Mr. Varathan. “The conspiracy of bullish dollar, recession risks, and elevated inflation exacerbated by exogenous price shocks means that EM Asia central banks cannot assume that the worst risks are behind us.” — Bloomberg

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