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Shorter Berlin Film Festival to go ahead with masks, COVID testing

BERLIN —  The Berlin Film Festival will go ahead in person next month but will use only half the available seating capacity and require attendees to adhere to strict COVID-19 protocols, organizers said on Wednesday.

With the Omicron variant of the coronavirus spreading fast in Germany, the organizers of the Berlinale, as it is widely known, have been at pains to make the festival happen in a safe environment after it went online last year.

The Berlinale starts on Feb. 10, culminating in an awards ceremony on Feb. 16 where the Golden and Silver Bears will be handed out, meaning the festival will be slightly shorter than planned, organizers said in a statement. It normally runs for about 10 days.

For four days after that, festival films will be shown in cinemas around the capital in public screenings.

To allow social distancing, seating capacity in festival cinemas will be reduced by 50% and no parties or public events will be held, although there will be a pared back version of the red carpet at premiere cinemas, said the organizers.

Audiences will have to be vaccinated or recently recovered from a coronavirus disease 2019 (COVID-19) infection, show a recent negative test as well as wear a mask.

“We want the festival to send a signal to the entire film industry, to cinemas and moviegoers, and to culture as a whole. We need cinema, we need culture,” said Claudia Roth, German minister for culture and media.

Germany reported 80,430 new coronavirus infections on Wednesday, the highest recorded in a single day since the start of the pandemic, and more than 114,000 people have died with COVID-19. —  Reuters

Converge’s Uy in Forbes Asia’s list top women leaders

CONVERGE ICT Solutions, Inc. Co-Founder and President Maria Grace Y. Uy is part of Forbes Asia’s 50 Over 50: Asia 2022 List, which recognizes women leaders in business, politics, art, and science in the Asia-Pacific region.

“Ms. Grace Uy is one of only two Filipinas to make it to the 2022 list, the other being Nobel Peace Prize laureate and Rappler CEO Maria Ressa,” Converge said in an e-mailed statement.

According to the company, Ms. Uy is the youngest honoree on the list of 50 women above 50 years old who are “shattering age and gender norms all over the globe.”

She was cited in her role in growing the company “into one of the biggest fixed broadband operators in the Philippines today.”

Ms. Uy founded Converge with her husband Dennis Anthony H. Uy in 2007.

“Now, the company which they brought public at the height of the pandemic in 2020 is valued at around P230 billion (approximately $4.6 billion),” Converge noted.

Ms. Uy previously made it to the Forbes Asia’s 2021 Power Businesswomen list, which recognizes 20 outstanding female business leaders in the Asia-Pacific region.

Ms. Uy is a certified public accountant. She held senior executive positions in several companies, including IBM Philippines, prior to Converge, according to Forbes.

“Ms. Uy and Ms. Ressa join other distinguished women on the list including Tokyo Governor Yuriko Koike, World Bank Managing Director Anshula Kant, Samoa Prime Minister Fiame Mata’afa, World Health Organization Chief Scientist Soumya Swaminathan, Macquarie Group CEO and Managing Director Shemara Wikramanaya, OCBC Group CEO Helen Wong, and Indian author Arundhati Roy,” Converge said. — Arjay L. Balinbin

Surgery successful, says pole-vaulter EJ Obiena

“DOWN but not out.”

Filipino world No. 6 pole-vaulter Ernest John “EJ” Obiena posted these words on his Facebook account right after his operation to repair a minor meniscus tear on his left knee went well on Wednesday.

“Surgery was successful,” said the 26-year-old Mr. Obiena. “They have cleaned the meniscus and have removed the screw on my knee from the ACL (anterior cruciate ligament) reconstruction back in 2017 as the bone graft has fully solidified.”

The Olympian and Asian record-holder is optimistic he will recover in time for a meet late this month.

“It shouldn’t affect my recovery and we’re still on and aiming for my 28th of January competition,” he said.

Mr. Obiena thanked the Philippine Sports Commission (PSC) and all the people who helped finance the operation.

“Thank you very much to everyone who helped and supported me to make this surgery possible. I am also thankful to (Philippine Sport Commission) chairman Butch Ramirez for announcing yesterday (Tuesday) that funds for my surgery are available,” said Mr. Obiena.

“I may be able to use this money once available to me to reimburse the advances of good Samaritans,” he added.

Mr. Obiena did not mention though if he will sign the PSC mediation papers that would help resolve the issue concerning him and the Philippine Athletics Track and Field Association.

But he vowed to reach greater heights this year.

“My most immediate task is to get healthy and get back on track so that I can compete again for the country. Everything else is priority number 2. Time for work to be done,” he said. — Joey Villar

BPI shortens bond offer period amid ‘overwhelming demand’

BW FILE PHOTO
BANK of the Philippine Islands will end its bond offer ahead of schedule on the back of strong demand. — BW FILE PHOTO

BANK OF THE Philippine Islands (BPI) is ending its bond offer a week earlier than scheduled due to strong demand from investors.

The papers will only be offered until Friday, Jan. 14, “due to overwhelming demand from investors, which includes institutional investors as well as high-net-worth and retail clients,” the bank said in a filing with the local bourse.

The bond offer was originally scheduled to run from Jan. 6 to 21.

The two-year papers, which make up the fourth tranche of BPI’s P100-billion bond program, have a fixed rate of 2.8068% per annum.

BPI said it was eyeing to sell P5 billion worth of peso-denominated bonds but noted it was open to upsize the issuance.

Proceeds from the issue will fund the bank’s general corporate needs as well as debt refinancing.

BPI Treasurer Dino R. Gasmen earlier said part of the proceeds will also be used for the bank’s digitalization efforts.

Investors may buy a minimum of P1 million worth of the debt papers, with additional increments of P100,000 thereafter.

BPI Capital Corp. and The Hongkong and Shanghai Banking Corp. Ltd. (HSBC) are the joint lead arrangers of the offer. BPI Capital is sole selling agent, while HSBC is a participating selling agent for the bond offering.

In August 2020, BPI raised P21.5 billion via its COVID Action Response bonds which was used to finance credit for small businesses amid the pandemic crisis.

The Ayala-led lender’s net profit increased by 3% year on year to P5.657 billion in the third quarter of 2021 amid lower credit provisions, which offset the decline in its interest earnings.

Its nine-month net profit rose by 1.8% year on year to P17.5 billion.

BPI shares went up by 10 centavos or 0.11% to close at P95.05 apiece on Thursday. – Luz Wendy T. Noble

Netflix lines up PGA Tour stars for documentary series

NETFLIX will soon be offering what is being billed as an unprecedented look at the PGA Tour with a new documentary series. It’s being modeled after Netflix’s hit Formula 1 series, Drive to Survive.

The PGA Tour show is yet to be named, and both Netflix and the PGA declined to comment on its official release date. The first episodes will likely be released in early 2023, according to Golf.com.

The docuseries will be produced by Netflix in conjunction with Vox Media Studios and Drive to Survive producers Box to Box Films. Filming is underway and will continue throughout the 2022 season.

“We are thrilled to bring golf’s leading organizations and players together for this first-of-its-kind partnership and unparalleled window into life on the tour,” Brandon Riegg, Netflix vice-president of unscripted and documentary series, said in a statement. “Our members will love getting to know the players and personalities as well as the iconic venues along the way. Even the most devoted golf fans have never seen the sport quite like this.”

For the first time, the PGA Tour and the governing bodies that conduct men’s major championships — Augusta National Golf Club, the PGA of America, the USGA, and The R&A — will allow a peek at the sport’s biggest events. That includes the Masters in Augusta, Ga., the Players Championship and the season-ending FedEx Cup.

Access from behind the scenes, as well as training, travel and emotions will be shown from the viewpoint of the tour’s top stars. Among the players involved will be Abraham Ancer, Daniel Berger, Cameron Champ, Joel Dahmen, Tony Finau, Matthew Fitzpatrick, Tommy Fleetwood, Rickie Fowler, Sergio Garcia, Harry Higgs, Max Homa, Viktor Hovland, Dustin Johnson, Brooks Koepka, Collin Morikawa, Kevin Na, Mito Pereira, Ian Poulter, Xander Schauffele, Jordan Spieth, Justin Thomas and Bubba Watson. The world’s top-ranked amateur golfer, Keita Nakajima, also will take part as he plays in his first career major championships.

Among the major stars not yet affiliated with the show are Rory McIlroy, Phil Mickelson and Tiger Woods, but producers haven’t given up on them appearing in the future.

The PGA Tour reportedly won’t have editorial control over the series, which could create concerns about protecting the squeaky-clean image of its players. The production team will have complete rights to film at tour events, with players having the option to wear microphones. — Reuters

Philex copper-gold project seen to yield $7B over 28 years

PHILEX Mining Corp. said the first-phase deposit in its Silangan copper-gold mine project in Surigao del Norte could yield close to $7 billion in sales of metallic mineral over 28 years.

“The numbers for the Silangan Project are very compelling, pushing us to pursue the mine development even without a strategic partner or major investors as we originally envisioned,” said Philex Chief Finance Officer Romeo B. Bachoco said in a stock exchange disclosure on Thursday.

The Boyongan deposit is estimated to post gross revenue of P97 million for the first year, P93 million by the fifth year, and P309 million by the 10th year.

The project has an initial capital expenditure of $224 million and will be ready for commercial use in early 2025. It features a starter mine that will initially produce 2,000 metric tons (MT) of ore per day, which will gradually reach 12,000 MT per day by the 12th year.

The Boyongan deposit has an estimated 81 million MT of mineable reserve estimated to yield 992.8 million pounds of copper and 2.81 million ounces of gold. The Bayugo deposit is still being explored.

“The feasibility study assumed a price of $3.20 per pound of copper and $1,342 an ounce for gold — both below current prices of copper of over $4.00 per pound and of gold that is over $1,800 an ounce. Using those assumed prices, the combined revenues from copper and gold totaled to $6.91 billion over the 28 years life of the soon-to-be-developed mine,” the Philex statement read.

“The break-even cost of producing a pound of copper in Silangan is between $2.00 and $2.30 per pound and between $850 and $900 for every ounce of gold,” it added.

On Thursday, Philex shares rose 2.10% or 11 centavos to close at P5.35 each in the stock exchange.

Philex is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Metro Pacific Investments Corp. and PLDT, Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interest in BusinessWorld through the Philippine Star Group, which it controls. — Luisa Maria Jacinta C. Jocson

Coronavirus takes its toll on Filipino athletes

MIXED MARTIAL arts fighter Jeremy Miado — ONE CHAMPIONSHIP

THE coronavirus disease 2019 (COVID-19) pandemic has taken its toll on Filipino sports people.

Tokyo Olympics weightlifting gold medalist Hidilyn F. Diaz and mixed martial arts (MMA) fighters Jeremy Miado and Robin Catalan all recently tested positive for the global health malady and were undergoing quarantine.

“Kahit po ako nag-positive na po. Ingat po tayong lahat. Magpalakas at sundin lahat ng health protocols (I, too, tested positive. Take care everyone. Get stronger and follow all health protocols),” said Ms. Diaz on her Instagram account where she also posted her test result.

Good thing Ms. Diaz, who has trained her sights for a second Olympic gold in the 2024 Paris Games, got her booster shot in Quezon City on Jan. 4.

For Messrs. Miado and Catalan, both strawweights, they were taken out of the “ONE: Heavy Hitters” card slated for tonight at the Singapore Indoor Stadium.

Messrs. Miado (10-4) and Catalan (9-7) were supposed to clash with Senzo Ikeda (12-6-1) and Elipitua Siregar (4-1), respectively, before it was both scrapped.

The three were among Filipino athletes and sports personalities who recently caught the virus, among them are volleyball star Alyssa Valdez of Creamline, Beach Volleyball Republic founder Charo Soriano, and Premier Volleyball League president Ricky Palou.

The PBA also postponed their games indefinitely after several of its players, coaches and team members got COVID-19. — Joey Villar

BSP limits basic deposit accounts to one per client

BW FILE PHOTO

THE BANGKO SENTRAL ng Pilipinas (BSP) directed lenders to limit basic deposit accounts (BDA) to one per depositor, urging clients to consider other products better suited for their needs.

Memorandum No. M-2022-003 signed by BSP Deputy Governor Chuchi G. Fonacier on Jan. 12 reminded banks and depositors of the rules for BDAs as stated in Circular 992 dated Feb. 1, 2018.

It said clients can tap other deposit products for their needs if they are beyond BDA limits.

“The maximum balance [of the BDA] is set at P50,000 to allow banks to ensure that accounts remain low-value, which can be considered in their risk assessment,” the memorandum said.

The BSP said banks are allowed to implement automatic transaction rejections to keep the limit, but they are expected to inform depositors of the consequences of going beyond the deposit limit in the BDA.

It added that rejections should also be clearly communicated with the depositor at the point of transaction.

The BDA was introduced in 2018 to address the needs of the unbanked and underserved Filipinos. This kind of account has a low opening amount capped at P100, no maintaining balance requirement, no dormancy charges and has a maximum balance limit of P50,000.

A central bank study showed that lack of money and documentary requirements, as well as the perception they don’t need an account, are cited by unbanked respondents as some of the main hindrances to becoming part the formal financial system.

In the new memorandum, the BSP said clients that already have a regular deposit account are allowed to open a BDA account, especially if “they have difficulty in meeting the required maintaining balance of the existing account or wants to enjoy the benefits of the BDA.”

“The client, however, may choose to maintain the regular deposit account, if he/she can still do so,” it added.

Banks are not required but are highly encouraged through incentives to offer the BDA as they have zero reserve requirement, the BSP said.

BSP Governor Benjamin E. Diokno earlier said there were 7.4 million BDAs as of the second quarter of 2021 with aggregate deposits worth P4.9 billion.

The central bank hopes to bring 70% of Filipino adults into the banked population by 2023. Mr. Diokno earlier said 53% of adult Filipinos had accounts with financial institutions as of the first quarter of 2021. — L.W.T. Noble

Entertainment News (01/14/22)

100 Days of Fundraising activities for Odette survivors

ALMOST a month after losing their homes, livelihoods, and loved ones, there are around 1.4 million Filipino families in areas devastated by Super Typhoon Odette who are still struggling to rebuild their lives in the face of the coronavirus disease 2019 (COVID-19) pandemic. To help them get back on their feet, ABS-CBN has launched “Tulong-Tulong sa Pag-ahon: Isang Daan Sa Pagtutulungan,” a series of fundraising activities over 100 days conducted by different groups within ABS-CBN, starting with ABS-CBN shows and stars, with the goal of providing assistance to 100,000 affected families. “Isang Daan Sa Pagtutulungan,” which marks the second phase of ABS-CBN and ABS-CBN Foundation’s online fund drive for Odette survivors, runs from Jan. 9 to April 18. It kicked off with By Request: A Benefit Concert featuring Regine Velasquez-Alcasid on FYE Channel on Kumu, the ABS-CBN Entertainment Facebook page and YouTube channel, and iWantTFC. By Request is being held every night at 8 p.m. until Jan. 18 with different ASAP Natin ‘To performers encouraging viewers to support the cause via virtual gifts on Kumu, Facebook stars, YouTube donate button, and QR codes while fulfilling song requests. Other activities during the 100 days include an Online Tindahan (store) from Pinoy Big Brother Kumunity Season 10, Busog sa Pagtulong from Magandang Buhay, Kilig Match featuring the network’s love teams, Truth or Dare with leading men, and an execution from teleseryes. There will also be a Metro Fire Sale, Boom! Pa-Mine from It’s Showtime and an Esports charity event, while ABS-CBN News and ABS-CBN Regional will deliver stories about the beneficiaries. The 100 days of activities will culminate with a major event in April. Tulong Bag donation vouchers are now available on Lazada and Shopee. A P100 voucher will provide a food pack containing 1 kilo of rice and two canned goods for an individual, while the P400 Tulong Family Bag donation voucher will provide a food pack of 5 kilos of rice and six canned goods for one family. Donors to the Tulong-Tulong sa Pag-Ahon campaign called Andito Tayo Para sa Bawat Pamilya, which has raised P56,575,497 in cash donations and P9,062,614 of in-kind donations since December, can make deposits to the accounts of ABS-CBN Lingkod Kapamilya Foundation, Inc. through BDO (0039302-14711), BPI (4221-0000-27), PNB (1263-7000-4128), GCash, PayMaya, and PayPal accounts. International donations may be coursed through abscbnfoundation.org.

GMA Network’s 2022 lineup

GMA NETWORK has a fresh roster of programs for 2022. On GMA Afternoon Prime, catch the return of the top-rating series Prima Donnas on Jan. 17, starring Jillian Ward, Althea Ablan, and Sofia Pablo. It will also offer the drama series Artikulo 247 airing on Feb. 14, starring by Rhian Ramos, Benjamin Alves, Kris Bernal, and Mark Herras. Leading the lineup of weekend game and variety shows is Family Feud, a popular franchise game show where two families compete by giving the most popular answer to survey questions. The Philippine franchise of the SBS Korea Original Running Man airs this year. Also to be launched this year is an innovative singing contest Sing for Hearts, and Guinness World Records “Best of the Best” in The Best Ka!, and the live-action adaptation of the hit Japanese animé series Voltes V: Legacy. Top-rating family fantasy drama Agimat ng Agila Season 2 returns on weekends.   

Sponge Cola releases new single, video

ACTRESS Heaven Peralejo stars as a deeply conflicted vampire on the music video of Sponge Cola’s new song, “Kung Ako Ang Pumiling Tapusin Ito.” The new single dropped ahead of their full-length album which will be released later this year. Directed by Lamar Roque, the music video sees Ms. Peralejo on the verge of a domestic breakdown as she adjusts to a life of uncertainty and fear of sunlight. “Kung Ako Ang Pumiling Tapusin Ito” was written by vocalist/guitarist Yael Yuzon, with additional parts from bassist Gosh Dilay. According to Yuson, he penned the song from the perspective of the one who leaves the relationship. The song is available on all digital music platforms worldwide via Sony Music Philippines.

Black Night out soon on Netflix

THE NEW Korean show Black Knight is set in a heavily polluted world in 2071, where people depend on respirators to breath. Only one percent of the human race has survived and strict social stratification has been established in the deserted lands of the Korean Peninsula. Delivery drivers play a crucial role within this system, and for refugees, becoming a delivery driver is their only hope for survival. Amid such chaos, Black Knight tells the story of a legendary delivery driver with exceptional battle skills, and a refugee who dreams of following in his footsteps. The series is based on the popular webtoon of the same title that won the E-IP Award at the Asian Film Market — an event connecting web drama, web novel, webtoon, story creators to entertainment industry specialists who can revamp them into different formats. Directed by Cho Ui-seok, it stars Kim woo-bin, E Som, and Kang you-seok. Black Knight will be released soon on Netflix.

I Can See Your Voice gets a new season

ABS-CBN’s mystery game show I Can See Your Voice will return for a new season on weekends beginning Jan. 15, with host Luis Manzano and a cast of “singvestigators” providing clues and entertainment. For the season’s first episode, Marry Me, Marry You lead star Janine Gutierrez, and her father Ramon Christopher Gutierrez will team up to eliminate the “seen-tunados,” select the “true see-nger,” and try to win P25,000. On Jan. 16, actresses Vina Morales and Cherrie Pie Picache will try their luck. Comedians Lassy and MC, singer Klarisse de Guzman join Negi and Nikko Natividad as “singvestigators” and will help celebrity players in determining whether the “see-cret songers” are “see-ngers or seen-tunados” in different rounds. Viewers can now participate in the game show this season as home “singvestigators” and win cash prizes. They must correctly guess whether the guest star’s chosen “see-cret songer” is a “see-nger or a seen-tunado.” They can leave comments or tweet their responses using the show’s hashtag on the game show’s official Facebook page and Twitter account. I Can See Your Voice premieres on Jan. 15, 9:30 p.m., on the Kapamilya Channel, A2Z, Kapamilya Online Live on ABS-CBN Entertainment’s YouTube channel and Facebook page, Jeepney TV, iWantTFC, and TFC IPTV.

PLDT group: 87% of Cavite cities, towns now on Smart 5G

PLDT group announced on Thursday that it fired up additional fifth-generation (5G) base stations in Cavite province, with the service now available in 87% of its cities and towns.

The new 5G base stations are in the cities of Trece Martires, General Trias, Dasmariñas, Tagaytay, Cavite, and Imus, PLDT Inc. and its wireless arm Smart Communications, Inc. said in an e-mailed statement.

“Smart LTE (long-term evolution) is also available across Cavite, enabling high-speed mobile data service for customers with LTE handsets,” the group noted.

“Underpinning these LTE, 5G, and Wi-Fi services is PLDT’s fiber infrastructure, the country’s most extensive at over 715,000 kilometers as of end-November,” it added.

Cavite Governor Juanito Victor “Jonvic” C. Remulla said the goal is to make the province “the most technologically advanced and the least stressful province to live in in the country.”

Smart, according to the PLDT group, has the most mobile users in the country, with 40 million.

The group announced in July last year that it had partnered with the Cavite local government through its business arm PLDT Enterprise and Smart for the rollout of a fiber network for the province’s digital roadmap towards becoming a “Smart City.”

The provincial government of Cavite and the PLDT group would activate the Cavite Managed Broadband Network Service, an end-to-end solution that would enable internet to the province’s 23 cities and municipalities, PLDT group said.

The project includes the provision of a fully underground fiber optic cable backbone. It would provide free internet access to more than 23 cities and municipalities, 129 public elementary and secondary schools, and 42 public places.

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. — Arjay L. Balinbin

Japan B.League All-Star goes online today

FILIPINO basketball stalwarts in Japan get a chance to still strut their stuff as the B.League goes online for its canceled All-Star festivities starting today in Okinawa.

Kiefer Ravena of the Shiga Lakestars lead the cast of local aces to be featured in a virtual show at 6 p.m. (Manila time) in place of the actual All-Star Game and side events at the Okinawa Arena.

Included in the two-day event is a meet-and-greet via Zoom with Filipino and other fans from Indonesia, South Korea, China and Chinese Taipei.

Joining Kiefer in the alternative All-Star event are Thirdy Ravena (San-en), Ray Parks, Jr. (Nagoya), Dwight Ramos (Toyama), Kobe Paras (Niigata), Kemark Cariño (Aomori Wat’s), Javi (Ibaraki) and Juan Gomez de Liaño (Earthfriends Tokyo Z).

They were supposed to banner the B.League Asia All-Star along with other Asian imports led by Indonesian Brandon Jawato (Utsunomiya), Korean Yang Jae-min (Shinshu) and Jin Liu of China (Nishinomiya).

All players are under the Asian Player Quota as part of B.League’s new program aimed at raising the level of play in Japan and the Asian region.

The Asia All-Star were scheduled to play the Rising Stars made up of promising locals including Matthew Aquino (Shinshu), who is not considered as an import due to his Japanese heritage.

The B.League last week called off the All-Star Game slated for this weekend in Okinawa along with other regular season games last week following a spike in coronavirus disease 2019 (COVID-19) cases among the players. — John Bryan Ulanday

DBP partners with inventors’ group to improve access to funding for projects

COURTESY OF DBP FACEBOOK PAGE

DEVELOPMENT Bank of the Philippines (DBP) has partnered with an inventors’ group to help improve scientists’ access to funding for commercial projects.

The state-owned bank partnered with the Filipino Inventors Society, Inc. to create programs that will support inventors’ financial and operational management.

DBP President and Chief Executive Officer Emmanuel G. Herbosa said this will help improve inventors’ access to funding opportunities for commercial production.

“Since market potential and commercial viability are very important considerations, we hope to consequently provide the necessary funding support to shepherd the projects of Filipino inventors from the drawing board to actual implementation and even production,” he said in a press release on Thursday.

The bank is creating a program that would support inventors, scientists and entrepreneurs to speed up the development of their ideas, he said.

“We will continue to encourage the development of relevant technologies and meaningful solutions to local problems, in support of the Philippine Development Plan and the country’s Sustainable Development Goals,” he added.

The Filipino Inventors Society is nongovernment organization run by individuals who hold patents locally and overseas.

Members include professionals and entrepreneurs who support the development of local technology.

Intellectual property filings declined in 2020 as inventors and creatives delayed applications amid the lockdown declared to contain the coronavirus disease 2019.

Filings increased by 20% in the first half of last year after relatively eased lockdown restrictions at the time supported economic recovery, the Intellectual Property Office of the Philippines said.

Intellectual property applications stood at 22,919, driven by a 23% increase in trademark filings. — J.P. Ibañez

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