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This New Year, why not resolve to ditch your dodgy old passwords?

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Most of the classic New Year resolutions revolve around improving your health and lifestyle. But this year, why not consider cleaning up your passwords too?

We all know the habits to avoid, yet so many of us do them anyway: using predictable passwords, never changing them, or writing them on sticky notes on our monitor. We routinely ignore the recommendations for good passwords in the name of convenience.

Choosing short passwords containing common names or words is likely to lead to trouble. Hackers can often guess a person’s passwords simply by using a computer to work through a long list of commonly used words.

The most popular choices have changed very little over time, and include numerical combinations such as “123456” (the most common password for five years in a row), “love”, keyboard patterns such as “qwerty” and, perhaps most ludicrously, “password” (or its Portuguese translation, “senha”).

Experts have long advised against using words, places or names in passwords, although you can strengthen this type of password by jumbling the components into sequences with a mixture of upper- and lowercase characters, as long as you do it thoroughly.

Complex rules often lead users to choose a word or phrase and then substitute letters with numbers and symbols (such as “Pa33w9rd!”), or add digits to a familiar password (“password12”). But so many people do this that these techniques don’t actually make passwords stronger.

It’s better to start with a word or two that isn’t so common, and make sure you mix things up with symbols and special characters in the middle. For example, “wincing giraffe” could be adapted to “W1nc1ng_!G1raff3”

These secure passwords can be harder to remember, to the extent you might end up having to write them down. That’s OK, as long as you keep the note somewhere secure (and definitely not stuck to your monitor).

Reusing passwords is another common error – and one of the biggest. Past data leaks, such as that suffered by LinkedIn in 2012, mean billions of old passwords are now circulating among cyber criminals.

This has given rise to a practice called “credential stuffing” – taking a leaked password from one source and trying it on other sites. If you’re still using the same old password for multiple email, social media or financial accounts, you’re at risk of being compromised.

The simplest and most effective route to good password hygiene is to use a password manager. This lets you use unique strong passwords for all your various logins, without having to remember them yourself.

Password managers allow you to store all of your passwords in one place and to “lock” them away with a strong level of protection. This can be a single (strong) password, but can also include face or fingerprint recognition, depending on the device you are using. Although there is some risk associated with storing your passwords in one place, experts consider this much less risky than using the same password for multiple accounts.

The password manager can automatically create strong, randomised passwords for each different service you use. This means your LinkedIn, Gmail and eBay accounts can no longer be accessed by someone who happens to guess the name of your childhood pet dog.

If one password is leaked, you only have to change that one – none of the others are compromised.

There are many password managers to choose from. Some are free (such as Keepass) or “freemium” (offering the option to upgrade for more functionality like Nordpass), while others charge a one-off fee or recurring subscription (such as 1Password). Most allow you to securely sync your passwords across all your devices, and some let you safely share passwords between family members or work groups.

You can also use the password managers built into most web browsers or operating systems (with many phones offering this functionality in the browser or natively). These tend to have fewer features and may pose compatibility issues if you want to access your password from different browsers or platforms.

Password managers take a bit of getting used to, but don’t be too daunted. When creating a new account on a website, you let the password manager create a unique (complex) password and store it straight away – there’s no need to think of one yourself!

Later, when you want to access that account again, the password manager fills it in automatically. This is either through direct integration with the browser (typically on computers) or through a separate application on your mobile device. Most password managers will automatically “lock” after a period of time, prompting for the master password (or face/finger verification) before allowing access again.

If you don’t like the sound of a password manager, at the very least change your “critical” account passwords so each one is strong and unique. Financial services, email accounts, government services, and work systems should each have a separate, strong password.

Even if you write them down in a book (kept safely locked away) you will significantly reduce your risk in the event of a data breach on any of those platforms.

Remember, however, that some sites provide delegated access to others. Many e-commerce websites, for example, give you the option of logging in with your Facebook, Google or Apple account. This doesn’t expose your password to greater risk, because the password itself is not shared. But if the password is compromised, using it would grant access to those delegated sites. It is usually best to create unique accounts – and use your password manager to keep them safe.

Adopting a better approach to passwords is a simple way to reduce your cyber-security risks. Ideally that means using a password manager, but if you’re not quite ready for that yet, at least make 2022 the year you ditch the sticky notes and pets’ names. – The Conversation / Reuters

COVID outbreak ends cruise for thousands on German ship in Lisbon

LISBON – The German operator of a cruise ship that has been stuck in Lisbon‘s port due to an outbreak of the coronavirus among its crew pulled the plug on the voyage on Sunday after some passengers tested positive, port authorities said.

The AIDAnova, with 2,844 passengers and 1,353 crew onboard docked in Lisbon on Dec. 29 while en route to the island of Madeira for New Year’s Eve celebrations, but was unable to continue the journey after 52 cases of COVID-19 were detected among the fully-vaccinated crew.

It had been allowed to leave port and head to the Spanish island of Lanzarote on Sunday, but now another 12 people have tested positive, including four passengers, captain of the port Diogo Vieira Branco told TSF radio.

“The company’s protocol was immediately actioned, with those infected, who are asymptomatic or displaying light symptoms, immediately isolated on the ship … and the company decided to end the cruise and disembark the passengers,” he said.

The passengers would be transported home by air, he added, without specifying when.

The company, AIDA Cruises, which is a subsidiary of Carnival Corp, did not reply to a Reuters request for comment.

Reuters footage showed passengers still enjoying afternoon sun on decks with their drinks, and local media said the disembarking would begin after 6 a.m. on Monday.

The crew who had tested positive between Wednesday and Friday were transferred to Lisbon hotels and were in isolation there.

On Thursday, the U.S. Centers for Disease Control and Prevention (CDC) advised people to avoid travelling on cruise ships regardless of their vaccination status.

The move delivered another blow to the industry that only returned to the seas in June after a months-long suspension of voyages caused by the pandemic. – Reuters

vivo holds successful Vision+ special press conference

Yanchun Xu delivers the speech at the press conference.

vivo joins hands with partners to recap their accomplishments in 2021, look ahead to plan for 2022, and continue conveying the “Joy of Humanity” with professional photography

vivo held the 2021 VISION+ Special press conference online last December 17, 2021, marking the resounding success of the 2021 VISION+ Project. At the press conference, vivo, together with partners including ZEISS, National Geographic, FIRST International Film Festival (“FIRST IFF”), and Three Shadows Photography Art Centre (“Three Shadows”), along with 38 creators, shared the achievements of the 2021 VISION+ Project in human-centric practice and behind-the-scenes stories. vivo invited the 38 worldwide creators for the 2022 journey to encourage more people to document, express, and share everyday life stories through images, and depict contemporary human-centric imaging.

“Inspiring more people to enjoy the fun of creation empowered by technologies is the human-centric vision and original aspiration of vivo, a brand with 400 million users globally,” said Yanchun Xu, Brand Communication General Manager of vivo. “This year marks the second year of VISION+. We are honored to build a platform that promotes professional mobile imaging to this level; we are able to do so with both our domestic and overseas partners, as well as around 70,000 worldwide creators. We have been able to explore the charm of imaging and depict the authentic portrait of life in 2021. In the future, vivo will continue to improve our notable technology towards human-centric professional photography and be committed to deepening the partnership with partners in the imaging industry to empower the ‘Create Together’ initiative.”

At the press conference, Elaine Xu, Head of Communication & PR ZEISS in Greater China, expressed her appreciation for all the creators participating in the VISION+, and acknowledged the successful cooperation with vivo, “The amazing results of VISION+ Project this year showed what is possible on smartphones photography …it motivated us to continue with providing consumers with more professional smartphone photography features.”

Elaine Xu gives her speech at the press conference.

Recapping the VISION+ achievements in the past year and depicting the “Joy of Humanity” of the times with diversified images

As the long-term brand project was initiated by vivo in 2020, 2021 VISION+ Project took this opportunity to optimize based on the events held in 2020. In addition to the VISION+ Mobile PhotoAwards and VISION+ Short Short FilmAwards launched with National Geographic and FIRST IFF, the 2021 VISION+ also launched the VISION+ Academy in 10 cities. This was to comprehensively meet the public demand on image creation, motivating more people around the world to record the present moments and express their feelings with their smartphones.

2021 VISION+ Project

The 2021 VISION+ Project successfully attracted around 70,000 creators from more than 40 countries and regions, and were able to collect 384,878 photos and 3,160 short short films. This fully interpreted the image creation value advocated by vivo – focusing on wonderful moments in our everyday lives. To comprehensively recap the accomplishments of the 2021 VISION+ Project and display these touching pieces to the public, vivo worked with Three Shadows to host the VISION+ Grand Exhibition (“Exhibition”). With the theme “Create Together, Our 2021”, the Exhibition linked creators’ thoughts on everyday life and present moments in 2021.

“These creators in different regions documented their surroundings throughout this unique year, showcasing their original scenes of everyday life, as well as the diversity and possibilities of images,” said RongRong, Curator of vivo VISION+ Grand Exhibition 2021 and Co-founder of Three Shadows. “It is a privilege for us to plan and host this exhibition together with vivo, bringing these excellent mobile imaging pieces from online to the physical exhibition, and to present the power and charm of mobile imaging to more people.”

Revealing the behind-the-scenes stories of smartphone photography, and feeling the passion of mobile imaging creation

VISION+ Mobile PhotoAwards 2021 and VISION+ Short Short FilmAwards 2021 presented diversity and inclusion. In terms of smartphone photography, the comprehensively upgraded competition format and jury line-up of VISION+ Mobile PhotoAwards 2021 inspired the creators to expand their creation dimensions. It therefore pushed the smartphone photography experience to a broader realm outside of the norm.

Winning Entries of VISION+ Mobile PhotoAwards 2021.

At the press conference, Quan Xiao, Portrait Photographer and Jury of VISION+ Mobile PhotoAwards 2021, explained the evaluation criteria of this session on behalf of the jury group, “The newly added ‘News-Events’ and ‘Documentary Project’ categories not only presented many photos with news features and humanistic care, but conveyed the deeper and wider humanistic spirit of the VISION+ Project. Currently, the aesthetic paradigm specific to smartphone photography is taking shape. We are very excited to take part in and exert influence on the current change of imaging culture together with vivo VISION+, and witness the features of the times depicted by more than 380,000 photos.”

The other five jury members also expressed their overall observations on the works collected in this session. Michael George, Photo Consultant, National Geographic, commented, “In this year’s VISION+ Mobile PhotoAwards, I have seen the new possibilities for mobile photography. It presents a unique perspective of motion pictures and builds up the perception on the diversity of this era, whether it’s the artistic expression or simply recording moments of daily life.” Documentary Photographer Martin Parr remarked, “The smartphone gives you a sense of anonymity whereby you can shoot much closer, and you effortlessly fit into the landscape.” Documentary Photographer Jonas Bendiksen was touched by the everyday reality that exuded from these works, “To me, it’s so important to preserve these small moments of the intimacy of family life and our own history.” Laura Serani, Photography Curator, Les Rencontres d’Arles, mentioned, “The value, ‘Create Together’, inspires people to file their everyday life into a huge archive.” Bertram Hoenlinger, ZEISS Expert for Photography, also recognized the value of VISION+ Mobile PhotoAwards, “The feedback from an international mobile phone photo competition like this also helps ZEISS and vivo a lot to understand mobile photographers better.”

Jury Members, VISION+ Mobile PhotoAwards 2021.

In terms of short short films, there were a large number of extraordinary works solicited by VISION+ Short Short FilmAwards 2021, which focus on everyday life through avant-garde forms. “The 3,160 short short films received in this session further highlighted the new trend – portable photography devices and methods, distinctive perspectives, and more experimental creative approaches,” Wen SONG, Founder of FIRST IFF, said in his speech. “The ratio of short short films shot with smartphones increased by 148% in comparison to the last session. This fact demonstrates that the smartphone is seen as a lightweight tool for creativity that supports pushing the boundary of narratives. Currently, images have become an all-new visual-audio language that is used considerably more commonly. We hope the professional Short Short Film category can promote the practice and enhancement of the visual-audio language nationwide.”

As a sideline event, the Creator Forum was held during the press conference. Zhiyuan Xu (Writer and Special Guest of 2021 vivo VISION+ Project), Kiva Liu (Director of Short Short Film of the Year), Derrick Zhang (Category Winner of Open Group – Portrait of VISION+ Mobile PhotoAwards 2021), and Yiran An (Landscape Photographer and Imaging Expert of vivo) were invited to have in-depth discussions on topics based on their own creation experience and comprehension, such as “how images become a universal language” and “how smartphones reshape the relations between creation and viewing”.

Creators discussed with the special guest.

Empowering more people to enjoy free creation in the new mobile imaging era

With the rapid evolution of technologies, professional mobile imaging has greatly lowered the barrier of image creation by ‘ordinary’ people, making creation convenient, efficient, and intimate anytime, anywhere. To encourage more smartphone users to join in in imaging creation, vivo always attaches great importance to the real needs of users. vivo is dedicated to building the finest human-centric professional photography system to provide users with an exceptional integrated imaging experience. With the VISION+ Project as an exchange platform, vivo strives to make the creation spirit and expression of everyday life fully respected and encouraged while performing its responsibility as a technology brand.

In the future, vivo will continue to collaborate with outstanding industrial partners like ZEISS to create ultimate human-centric professional photography products and push the boundary of human-centric creation practice. Our goal is to empower more people to experience the “Joy of Humanity” through mobile imaging creation. Next year, VISION+ will set out again with the next generation product developed in partnership with ZEISS, inviting creators worldwide to discover the beauty of life with imaging.

 


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Inflation likely slowed in Dec. — poll

PHILIPPINE STAR/ MICHAEL VARCAS
An attendant holds a fuel pump nozzle at a gasoline station. — PHILIPPINE STAR/ MICHAEL VARCAS

By Luz Wendy T. Noble, Reporter

HEADLINE INFLATION probably slowed in December as fuel retailers reduced prices, although holiday demand and the impact of Typhoon Odette may have caused a faster rise in food prices, according to analysts.

A BusinessWorld poll of 13 analysts yielded a median estimate of 3.9% for the December inflation, matching the midpoint of the 3.5% to 4.3% forecast given by the Bangko Sentral ng Pilipinas (BSP) last week. 

If realized, inflation will be within the 2-4% target by the BSP. The median estimate is slower than the 4.2% in November but still quicker compared with the 3.5% in December 2020.

Analysts’ December 2021 inflation rate estimates

The Philippine Statistics Authority (PSA) will release the consumer price index (CPI) data for December on Wednesday. 

The December CPI will be the last one that will have 2012 as its base year. For the January report, the PSA will adopt 2018 as its base year, as part of the agency’s move to rebase price indices every six years.   

The oil price rollback is a crucial factor that may have tamed inflation last month, said University of Asia and the Pacific economist Victor A. Abola.

“The downside [risk to inflation] comes from the sharp fall in fuel prices, especially considering that local petroleum companies adjust pump prices around two weeks after crude oil price movements in international markets,” Mr. Abola said.

Data from the Department of Energy (DoE) showed that gasoline, diesel, and kerosene prices decreased by about P0.50, P1.40, and P1.65 per liter, respectively during the month.

In the aftermath of Typhoon Odette, a mandatory price freeze was implemented for kerosene in areas under a state of calamity. Some oil companies have also decided to suspend price hikes for gasoline and diesel in typhoon-hit areas in Visayas and Mindanao.

“I’m expecting a continued slowdown in inflation in December, to 3.8%, largely due to the favorable base effects still in play in terms of food inflation,” Pantheon Macroeconomics Senior Economist Miguel Chanco said.

Food inflation in December 2020 reached 4.8%. It stood at 3.9% in November 2021.

The African Swine Fever outbreak has been blamed for low supply that drove up prices of pork products since the latter months of 2020. To address this, the government last year lowered the tariffs and expanded the minimum access volume quota for pork imports.

On the other hand, seasonal holiday demand in December may have caused faster inflation, De La Salle University economist Mitzie Irene P. Conchada said.

“With the Christmas season, prices could have hiked up a bit especially food items and other basic necessities,” she said.

The impact of Typhoon Odette to supply may have also caused quicker food price inflation last month, said Alvin Joseph A. Arogo, vice-president and head of equity research division at Philippine National Bank.

“Due to [the] surprising threat of typhoon Odette, the risk is tilted to the upside as the ensuring agricultural damage and logistics challenges may have increased food prices more than our baseline expectation,” Mr. Arogo said.

The typhoon has caused P9 billion so far in crop damage, based on data from the Department of Agriculture released on Dec. 31.

Headline inflation exceeded the Bangko Sentral ng Pilipinas (BSP) target in 2021, except in July when it stood at 4%.

Year to date, inflation is at 4.5%, still beyond the central bank’s 4.4% forecast for the year and much faster than the 2.6% average in 2020.

The central bank expects inflation to ease to within target at 3.4% and 3.2% by 2022 and 2023, respectively.

“Favorable base effects may help offset upside risks into 2022 and should give the Bangko Sentral ng Pilipinas some further leeway to remain accommodative for the first half of 2022,” Security Bank Corp. Chief Economist Robert Dan J. Roces said.

Pantheon’s Mr. Chanco said the central bank is expected to continue to focus on supporting economic rebound.

“I still highly doubt that they will move anytime soon. We expect them to remain on pause for most of [2022], simply because we expect the recovery to disappoint,” he said.

In the third quarter, the economy rose by 7.1% year on year and 3.8% quarter on quarter. Year-to-date growth stood at 4.9%, which is already near the upwardly revised 5-5.5% growth target by the government this year.

However, analysts have warned that the widespread damage arising from Typhoon Odette may dampen fourth-quarter growth.

The central bank did not adjust policy rates in 2021 after cutting rates to record lows by a total of 200 basis points in 2020 to support the economy in the early stage of the pandemic.

While some central banks including the US Federal Reserve have already started or signaled normalization of monetary policy, BSP Governor Benjamin E. Diokno has said they will retain an accommodative policy to make recovery more sustainable. 

The Monetary Board will have its first policy review this year on Feb. 17.

PHL financial transactions subjected to more scrutiny since ‘gray list’ inclusion, says gov’t

REUTERS

SOME PHILIPPINE-RELATED financial transactions have been subjected to tighter scrutiny even though no countermeasures have been required after the Financial Action Task Force (FATF) put the country under its “gray list.”

This prompted the government to call on financial institutions to apply only commensurate measures as the Philippines is not a “high risk” to financial crimes and is only classified as “jurisdiction under increased monitoring” by the Paris-based “dirty money” watchdog.

“The Philippine government has been receiving reports that Philippine-related transactions have been subjected to more scrutiny, or worse, de-risking,” the National Anti-Money Laundering/Countering the Financing of Terrorism Coordinating Committee (NACC) said in an advisory posted on the Anti-Money Laundering Council (AMLC) website.

De-risking happens when financial institutions terminate or restrict business relationships to avoid risks to financial crimes they associate with parties or clients.

“This is not in line and inconsistent with FATF’s expectations on the application of risk-based approach, which is central to the effective implementation of the FATF standards,” the NACC said.

Disproportionate application of measures against gray-listed countries included requiring financial institutions to apply specific elements of enhanced due diligence; limiting business relationships or financial transactions with the identified jurisdictions or persons in that country; and requiring financial institutions to review or even terminate correspondent relationship in the country concerned.

The FATF included the Philippines in its gray list in June 2021.  Republic Act 11521 which amended the Anti-Money Laundering Law was signed by President Rodrigo R. Duterte on Jan. 29, only days ahead of the Feb. 1 deadline set by the FATF. The Philippines had to show the FATF that it had made progress in tightening anti-money laundering (AML) and counter-terrorism financing (CTF) measures.

The FATF at that time did not call for application of enhanced due diligence for transactions involving the countries under increased monitoring. However, the FATF encouraged countries to take into account information regarding the said jurisdictions’ deficiencies in their risk analysis.

“Filipino businesses or nationals should not be considered as high risk based solely on the inclusion of the Philippines in the FATF’s list of jurisdictions under increased monitoring,” the NACC said.

“What is not in line with the FATF standards is the wholesale cutting loose of entire classes of customer, without taking into account, seriously and comprehensively, the level of risk or risk mitigation measures for individual customers within a particular sector,” it added.

The NACC stressed that terminating business relationships should only be applied on a case-by-case basis when proven that money laundering and terrorism financing risks cannot be mitigated.

To date, only Iran and North Korea are classified under the FATF’s black list or high-risk jurisdictions, which means counteracting measures are required due to possible financial crimes from said countries.

The NACC directed government agencies and covered persons to provide assistance to the AMLC by submitting reports of incidents wherein additional measures were imposed on Philippine-related accounts.

Countries classified as jurisdictions under increased monitoring like the Philippines are required to submit progress reports annually every January, August and May.

In October, the FATF said the Philippines remained under the gray list despite some progress in implementing AML/CTF measures. The country still needs to address 17 out of 18 action plan items to show it has strengthened its tangible progress on measures against financial crimes.

Government officials are hopeful that the country can exit the gray list by January 2023. — Luz Wendy T. Noble

Omicron threatens Philippine mall revival

By Keren Concepcion G. Valmonte, Reporter

DELIGHT CALIBJO ENTE reluctantly brought her five children to the Ayala Malls Solenad in December after their constant nagging, weeks after the government allowed minors out amid a coronavirus pandemic.

“They were really happy,” she said in a Facebook Messenger chat last month. “They were asking us to buy all the toys they saw and they didn’t want to go home.”

Foot traffic at Ayala Malls rose to as much as 60% of pre-pandemic levels after the quarantine in most areas of the country was lowered to Level 2 amid decreasing coronavirus infections. The rate reached as much as 70% on weekends.

“We’re really seeing an increase in foot traffic,” Ayala Land, Inc. President and Chief Executive Officer Bernard Vincent O. Dy told a recent webinar.

That was before President Rodrigo R. Duterte raised the lockdown level to No. 3 again in Manila, the capital and nearby cities after an infection surge during the holiday. It will start today (Jan. 3) until Jan. 15.

Mall revival and the rest of the Philippine economy is threatened by the spike if it leads to stricter quarantines again especially in the capital region.

The Philippines reported 4,600 coronavirus infections on Jan. 2 — the highest in over two months — probably spurred by the highly mutated Omicron variant. At least 14 Omicron cases have been detected locally.

Infections would probably multiply in the coming days and exceed past surge levels, according to the OCTA Research Group from the University of the Philippines.

“It’s better that they stay at home because it’s still not safe for them to go out, especially in crowded places,” Ms. Ente said before the latest government lockdown announcement. “There are a lot of ways for them to explore things. They can go online shopping, play online games and interact using social media.”

Only one of her five kids — her 15-year-old son — has been vaccinated against the coronavirus. Her 11-year-old twins and daughters aged five and six have not been vaccinated.

The Philippine Food and Drug Administration (FDA) has given the go signal to vaccinate children aged 5 to 11 using the vaccine made by Pfizer, Inc., taking its cue from the US, Canada and European countries.

“The increased vaccination of younger children five to 11 years old by early 2022 would be a step in the right direction,” Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., said in a Viber message. He said spending for children is a key factor in boosting consumer expenditures.

The Pfizer vaccine is said to have an efficacy rate of more than 90% for children, although they will be getting a lower dose. The government has said it would buy the Pfizer vaccines by this month.

Taguig City, Pateros, and Manila have called on parents to pre-register for the COVID-19 vaccination of kids aged 5 to 11.

“I’m willing to have my kids vaccinated as soon as possible, but maybe I’ll wait first and see if the vaccination of other kids would be okay,” Ms. Ente said. “I trust the Health department and the government.”

The Villar group has also posted increased foot traffic in its malls, with levels having eclipsed pre-pandemic levels, tycoon Manuel B. Villar, Jr. told reporters at a recent online news briefing.

Over at SM City Molino in Cavite province, families opt to visit at the weekends, going shopping and bonding usually after lunch until 7 p.m.

Quantum Amusement service crew Julio Enrique M. Iglesias said the increased foot traffic has been a hassle.

“The parents are annoying,” he said. “It’s not the kids that are the problem, it’s the parents,” he said in Filipino, stopping to reprimand a parent going to the indoor amusement center without logging details with security.

Parents usually insist to go inside the amusement center without asking if it’s already full, he pointed out. Some unvaccinated parents would try to go inside Quantum, despite SM Malls’ rule that only vaccinated parents could accompany their children inside shops.

At Toy Kingdom’s pop-up shop, sales demo worker Maureen Anne Historia Cabral said the store have started selling as much as P20,000 worth of toys after kids were allowed to visit malls again. Before, the pop-up shop only sold half.

“Children would ask their parents to buy Barbie dolls, Nerf guns, yoyos and bubbles,” she said in Filipino. Each family would spend as much as P1,000 per visit.

Dean Kier L. Menodiado, a sales clerk for kids’ apparel at the SM department store, said sales have increased since parents were allowed to bring their children with them because getting the right sizes have become easier.

“They would get two items each and they will spend P500 to P600 in total,” he said in Filipino. Clothes are put inside a container for sanitation after a customer tries them on, he said.

Meanwhile, Character Shop supervisor Benet M. Guanlao said they have hit their sales target for every brand at the accessory corner, where kids would often buy Disney’s Frozen merchandise, cars and superhero items.

“We barely sold anything before the kids were allowed inside malls,” he said in Filipino.

That might happen again as Omicron spurs another infection surge. The coronavirus variant dampened New Year festivities around the world, with Paris canceling its fireworks show, London relegating its own to television and New York City scaling down its famous ball drop celebration at Times Square.

Globally, airlines canceled more than 6,000 flights on Christmas Eve, Christmas and the day after Christmas as COVID-19 cases surged. In the United States, more than 1,200 flights were canceled and more than 5,000 were delayed on Dec. 26 alone as staff and crew called out sick.

More strict lockdowns in the Philippines threaten economic recovery.

“The Omicron variant surge in some countries around the world could slow down global economic recovery or growth amid restrictions on travel,” Mr. Ricafort said. Vaccination will be key to ease the effects, he added.

“Accelerated vaccination versus COVID-19 towards population and herd immunity could help better protect the local population against the more transmissible but less deadly Omicron variant,” he said.

Ms. Ente’s kids will have to wait before they can go out again.

“I used to tell them that kids were just allowed to go out because it’s the holiday season, but children will no longer be allowed after Christmas and the New Year,” she said. “I would tell them that they are doing their part in helping end the pandemic. If we don’t have to do anything outside, we will not go out.”

Bank lending rises in Nov. as firms turn optimistic

BANK LENDING grew for a fourth straight month in November, as firms became more bullish on the Philippine economy’s recovery.

Outstanding loans issued by big banks increased by 4% year on year to P9.349 trillion in November, based on preliminary data released by the Bangko Sentral ng Pilipinas (BSP) on Friday evening.

The pace of growth is quicker than the 3.5% expansion in October and marked the fourth straight month of annual growth in lending. It was also the fastest rate since the 4.7% in August 2020.

Inclusive of reverse repurchase agreements, credit growth stood at 3.9%. Outstanding loans by big banks rose by 0.3% month on month.

“The BSP sees enough scope to continue providing appropriate policy support in order to sustain the recovery in credit activity,” BSP Governor Benjamin E. Diokno said in a statement.

The central bank has kept rates at record lows for the whole of 2021, after slashing rates by a total of 200 basis points in 2020 to support the economy amid the coronavirus pandemic.

Despite the low interest rates, bank lending declined on an annual basis from December 2020 to July 2021 as borrowers and banks became risk averse during the crisis. This also reflected the impact lag of monetary easing.

Borrowings for production activities jumped by 5.3% in November, from 4.9% in October. This was mainly driven by expansion in loans for real estate activities (8%), information and communication (27.2%), financial and insurance activities (9%), manufacturing (6.7%), and transportation and storage (11.4%).

“Outstanding loans of universal and commercial banks continue to gain traction amid businesses’ optimistic economic outlook due to the easing of coronavirus disease 2019 (COVID-19) restrictions and the continued rollout of vaccines,” Mr. Diokno.

For Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort, some  likely took advantage of the borrowing conditions ahead of the monetary policy tightening in the United States.

“Faster loan growth was also due to the fact that some borrowers rushed financing requirements in preparation for the widely expected US Federal Reserve decision to accelerate tapering,” Mr. Ricafort said.

On the other hand, there was decline in outstanding loans to other sectors such as agriculture, forestry and fishing (-8.3%), mining and quarrying (-16%), and producing activities of households for own use (-23.8%).

Meanwhile, BSP data showed that outstanding loans for retail borrowers continued to fall by 7.1% in November, although easing from the 7.4% contraction in the prior month.

Both motor vehicle loans (-17.5%) and salary-based credit (-9.5%) declined, while credit card borrowings grew by 2.6%.

The continued decline in household loans reflect banks’ wariness in lending to retail borrowers amid the crisis, according to Asian Institute of Management economist John Paolo R. Rivera said.    

“Business loans are more likely to be approved because the loan will be used to generate income to pay for the loan. Consumer loan is still risky for banks because of the persistent uncertainties in employment and household income,” Mr. Rivera said in a Viber message.

He said banks may be more ready to take on risk from consumption loans once the employment situation becomes more stable “than constantly being threatened by rising alert levels due to the pandemic.”

Metro Manila will be under a tighter Alert Level 3 starting today (Jan. 3) to Jan. 15 amid the rising cases of coronavirus disease 2019.

“Looking ahead, the BSP aims to keep a patient hand on its monetary tools to allow the economic recovery to gain stronger traction, in line with its price and financial stability mandates,” Mr. Diokno said.

In its last policy review in 2021 held on Dec. 16, the Monetary Board kept policy rates steady to support the economy’s nascent recovery.

The BSP will have its first policy review this year on Feb. 17.

M3 GROWTH STABLE
As credit growth continued to improve, the domestic liquidity rose by an annual 8.3% to P14.8 trillion in November, the BSP said in a separate statement.

M3 — which is the broadest measure of money supply in an economy — rose 0.5% month on month.

In November, domestic claims rose quicker by 8.1% from a 7.5% growth in October.

Net claims on the central government also increased faster by 23.9% from a revised 21.7% in October due to sustained borrowings by the National Government.

Growth in claims on the private sector likewise quickened to 3% from 2.6% in October.

Net foreign assets expanded a tad quicker by 8.8% in November from 8.7% in the previous month.

“Looking ahead, the BSP will ensure that domestic liquidity conditions continue to provide the necessary support to domestic economic activity amid downside risks to the economic recovery, in line with its price and financial stability objectives,” the central bank said. — Luz Wendy T. Noble

New year, new hair

WE’RE all just dying for a makeover, considering all that has passed and the chance to start anew. Just in time for the new year, a new project by L’Oreal makes it easier for both customers and hairdressers to connect.

The L’Oreal Salon Shop was launched last month through an online press conference. “It’s really an all-in-one platform,” said Cary Co-Choa, General Manager for L’Oreal Philippines Luxe and Professional Products Division. Through the platform (lorealsalonshop.com.ph; currently down), customers can have remote consultations with hairdressers from partner salons, shop for products, and book hair appointments. “With the launch of this platform, this business can leverage on the digital infrastructure that L’Oreal has built and will maintain to create meaningful interactions between their hairstylists and customers.”

As of the time of writing, two partner salons are on the platform: Azta Urban Salon and Emphasis. “In 2022, we will be expanding to more partner salons, and consequently, more geographies within the Philippines,” said Lota Jamer, Commercial and Transformation Director, Professional Products Division for L’Oreal Philippines.

The ongoing pandemic is one of the reasons behind the creation of the website. Since salons were only intermittently open during the pandemic, a lot of schedules and workers have been displaced. “This commitment by L’Oreal is to help hairdressers and salons in the Philippines future-proof their businesses. Even if we have another lockdown —  hopefully not —  but if we do, by next year, they can still bring their products and services to their customers through this platform.”

Being a partner salon will have its benefits: Ms. Jamer said that hairdressers would undergo “digital upskilling,” with regards customer relations and performing hair diagnoses, among others. As for the customers, they will be guaranteed socially distanced timeslots when they book through the website — but will also save time by knowing what happens during the procedure (plus a haircut, maybe), as well as the estimated time it takes to finish.

Meanwhile, Mel Velhagen, Managing Director of Azta Urban Salon, expressed that the biggest hair concerns of their clients ending the year was exposure to DIY treatments (lockdowns will do that), which they then go to get fixed in the salon. My Cantos, Marketing Head at Emphasis Salon, said, “The biggest problem that they’re facing right now because of the pandemic is hair loss.” —  Joseph L. Garcia

Crowning glory

FILM and television actor, Albert Martinez

LIKE Samson, actor Albert Martinez cares deeply about his hair.

“Hair loss is the greatest fear of all men,” Mr. Martinez said in a statement. “Me personally, that is also my fear.”

Mr. Martinez, one of this country’s most desired leading men, just hit 60 but probably won’t look that age for quite some time. He attributes this to his self-care regimen, which includes eating properly, staying away from junk food, sleeping well, avoiding alcoholic drinks, and applying a night cream. Some of the credit goes to Medic Hair for Men, a hair serum for which he serves as ambassador.

Medic Hair aims to sustain regrowth and avoid the occurrence of hair loss. Ingredients like saw palmetto and ginseng extract target the primary cause of hair loss, dihydrotestosterone (DHT).

“You really have to consider helping your hair,” Mr. Martinez said. “You need a serum to keep your hair healthy and thick.”

His other haircare tips, shared with BusinessWorld via e-mail, include not using a shampoo. “He just wets his hair, towel dries it, and [then he] applies Medic Hair,” said a representative. The serum is applied to the hair and scalp area twice a day for two to four months, then once daily continuously for maintenance after achieving desired results.

“Taking care of oneself is very important,” Mr. Martinez said. “It defines your personality, your character. You want to live long and enjoy life longer.”

“If you can keep your hair on your head, that’s the best!”

Medic Hair For Men is available at Shopee and Lazada for P1,790 per bottle, good for one to two months of regular use. — JLG

It’s all in the frame

JAPANESE housing products brand Tostem has launched ATIS, its latest collection of window designs, in the Philippines. ATIS: The Art of the View is a collection of windows created with artistic and minimal design, and features products for every room of the home.

ATIS’ sliding windows come with a safety stopper ensuring that anyone who uses them won’t get hurt. The awning window comes with an orbit handle, simply designed, simply functional. The tilt and slide window feature two elements, tilting and sliding, all in one. ATIS windows are equipped with a smart screen system with an invisible shield keeping insects out, letting more air flow in, and increasing transparency.

Hirokazu Morokuma, Marketing and Operation Director of LIXIL (Thailand) Public Company Ltd. explains Tostem’s streamlined design as “eliminating all the unwanted parts on the frame.”

ATIS windows’ hardware is concealed, caps and screws are hidden.  “The hardware is meant to work and not to be seen,” he said.

Since 1967, Tostem has offered functional performance and simple designs refined through Japan’s changing seasons. Among Tostem’s awards are the German Design Award 2021, the iF Design Award 2020, and the Good Design Award 2019.

Aside from Japan, Tostem has a presence in India, Indonesia, Thailand, Vietnam, and the Philippines.

“The Philippines is a very challenging market for window brands like us. The Philippine market is relatively similar to Japan. We both experienced multiple typhoons every year, fighting hard rains and maybe an environment where the wind blows like crazy,” said Mr. Morokuma during the brand’s online launch on Nov. 30.

For more information, visit https://www.tostem.com/en/aboutus/. — MAPS

‘Drained and wary of the future’: why you might feel different about New Year’s resolutions this year

IAN SCHNEIDER/UNSPLASH

At the beginning of each year, many people make vows to either do or not do something to improve their life in some way. The fresh start of a new year is magically equated with a fresh start to life and often imbued with renewed hope that this year things will be better.

As we enter 2022, after two years of living with COVID-19, this hope may be stronger than usual.

The pandemic’s impacts have ranged from deaths and other adverse effects on physical and mental health, to huge changes in employment, income, travel, leisure, and the ability to socialize. The effect on individuals has varied considerably, depending on what their life was like beforehand, how much it has affected them personally, and their own resilience.

Based on discussions with colleagues and patients, we may see resolutions driven by loss, guilt, and anger, plus a rush on common types of self-improvement resolutions and a greater drive for overall life changes.

How we respond to the shocks of the pandemic depends in part on our resilience: the ability to adapt well in the face of adversity, trauma, tragedy, threats, or significant sources of stress. It involves “bouncing back” from difficult experiences, and it can also involve personal growth.

People who have lost loved ones to COVID may respond with New Year’s resolutions, but they may take positive or negative forms.

Positive resolutions might be commitments to honor the deceased in some way, or to live well because your loved one cannot. A pact or vow made with or to a deceased loved one to “live life better” can be a powerful, positive motivator to change bad health habits such as smoking, excessive drinking or gambling, although professional help is advisable to ensure safe and lasting change.

Negative resolutions, often driven by strong feelings of anger and despair, might be vows to seek revenge or punish those who may seem responsible for the death of their relative or friend.

“Revenge resolutions” are not usually helpful adaptations and may spring from a sense of guilt arising from not being able to save their loved one or spend time with them.

People who survived a COVID infection while a loved one did not, in particular, often experience strong feelings of guilt.

Guilt-driven resolutions are driven by powerful emotions. They are likely to be realized in some form throughout the year, when hopefully the driving emotions become less intense by the following year.

Since the virus has posed a major health risk, it would make sense for more people than ever to choose the New Year to resolve to improve their own health.

Quitting smoking is a very common New Year’s resolution, and it seems even more sensible than usual amid a global pandemic of a virus that mainly attacks the respiratory system. However, as many people have found in the past, giving up cigarettes is very difficult and often requires significant planning and help to succeed.

While the pandemic may have made the desire for change stronger, it does not magically make resolutions any easier to achieve. This applies similarly to resolutions to change the use of alcohol or other drugs, which would also benefit from planning and professional help.

Weight loss is another favorite New Year’s resolution. The famous “COVID kilos” will no doubt drive more people than usual to resolve to lose weight in 2022.

Crash diets are common, but are often abandoned by February. Careful eating and an exercise plan accompanying the resolution will make it more likely to succeed.

While COVID is likely to give an extra edge to common resolutions, we are also likely to see a surge in resolutions for overall “lifestyle change.” Many people’s attitudes to work and family have changed dramatically over the past two years, due to travel restrictions, work or study from home, and little socialization with those outside our immediate families.

This hugely significant alteration in our way of life has caused many people to reconsider their futures.

Many have found great enjoyment in spending time with family and are now rethinking their work–home balance. Discovering that working from home is possible has made many people reconsider their career options moving into 2022.

Some experts anticipate a post-pandemic work exodus, dubbed the “great resignation,” in which millions of people, from frontline workers to senior executives, may resign from their jobs.

According to recent research by Microsoft, more than 40% of the global workforce are considering leaving their employers. This trend is expected to be replicated in different industries in the USA, UK, and Europe. In Australia, this trend is not evident, but nonetheless, a New Year’s resolution may be to determine a different type of employment for 2022 and beyond.

COVID-19 has left most of us drained and wary of the future. Many people believed the pandemic would end in 2020, but 2021 brought more infection, lockdowns and restrictions.

In times of trauma, when the future is uncertain, there can be a polarization of behaviors. Some people adopt a “devil may care, live for now” attitude to life, with greater risk taking. Others take the opposite attitude, and exercise extreme caution and narrow their existence further.

Both groups may well make New Year’s resolutions to fit their approach to life.

 

Jayashri Kulkarni is a Professor of Psychiatry at Monash University. Professor Kulkarni has received research grants in other areas from NHMRC, pharmaceutical industry, Victorian and Federal Governments. This work is unfunded and not influenced by any grants received by the author.