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The role of spirituality in the care of terminally ill patients

UNSPLASH

END-OF-LIFE CARE will benefit from conversations about spirituality and the limits of the human body, according to a priest.  

“If we want to really take care of the patient, we take care of the patient as body and spirit, and not only as body,” said Fr. Gregory Ramon D. Gaston, rector of the Pontificio Collegio Filippino in Rome, Italy. “That is the reality of our human nature that we have to communicate with others, and in healthcare.” 

While modern medicine has increased the longevity of human beings, there is still a limit to what it can do, he said at a Nov. 25 event hosted by UP Med Webinars. “Sometimes, procedures and operations, what they do is not really prolong life, but delay the dying process,” he said.  

The debate among doctors should not be whether or not to communicate the truth of a patient’s medical condition but the “how, when, and in what manner” it should be shared, said Fr. Gaston. 

“That changes the reality of the patient’s view, the patient’s world,” he said. 

According to a Social Weather Survey conducted in November 2020, 73% of adult Filipinos said that religion is very important in their lives. 

Religious commitments, such as church attendance, have been found to yield health benefits such as a lower risk of depression and anxiety, as well as a reduced risk of cardiovascular disease and death from cancer.   

Religion can also reduce anxiety surrounding death, according to studies in the Journal of Palliative Medicine and the Journal for the Scientific Study of Religion.   

Fr. Gaston encouraged respecting the patient’s religiosity without imposing one’s own beliefs. 

Meanwhile, Dr. Michael Angelo L. Wambangco, a home care specialist, said that patient comfort and empowerment are the by-products of effective communication and ministering. 

“As a Catholic, our faith teaches us that there is a beyond after this earthly life,” Dr. Wambangco said. “A health professional has that crucial role, especially in cases where the patient is terminally ill.” — Patricia B. Mirasol

CCP stages its first opera in two years

A SCENE from Giacomo Puccini’s opera Turandot in Turkey

AFTER a two-year hiatus, live opera returns to the Main Theater of the Cultural Center of the Philippines (CCP) this month with Giacomo Puccini’s Turandot.

The gala is scheduled for Dec. 9, 8 p.m., with a matinee performance on Dec. 11, 3 p.m.

Based on an ancient Persian fairytale, Mr. Puccini’s opera is set in ancient China where Princess Turandot declares that she will only marry the suitor who can solve three riddles. Prince Calaf accepts the challenge — but if he fails, he will be executed. But when the prince passes the test, the princess refuses to marry him. Prince Calaf then suggests that if Princess Turandot is able to guess his name before dawn the following day, he will accept execution.

“Puccini is one of most performed composers also because he was a great theater man. He wasn’t just a great musician… He always picked up the right story,” Marco Clemente, Ambassador of Italy to the Philippines, told BusinessWorld shortly after a press conference on Nov. 21 at the Hilton Manila.

Turandot was Mr. Puccini’s final opera, which he left unfinished when he died suddenly in 1924. It premiered in Milan in1926 with the ending finished by composer Franco Alfano. The opera features one of the best-known arias, Nessun Dorma, which was sung by Luciano Pavarotti at the 1990 World Cup soccer tournament in the United Kingdom.

In Alexandra Wilson’s Opera: A Beginner’s Guide, the author noted that Turandot uses a “very modern and at times dissonant musical language, and its movement flows on relatively seamlessly, and naturally.”

Leading the creative team for the opera’s Manila production is Italian director Vincenzo Grisostomi Travaglini who also directed Donizetti’s L’Elisir d’ Amore and Lucia di Lammermoor at the CCP in 2017 and 2020 respectively. Mr. Travaglini is working with Prince Ravivaddhana Monipong Sisowath as assistant director. “He is very creative, and his mind is much ahead of what he is saying. So, you have to guess what is in his mind and to follow what he is saying knowing that he is able to change everything at the end,” the assistant director said of working with Mr. Travaglini in the production.

Valentino Favoino will conduct the Philippine Philharmonic Orchestra along with the choral ensembles that make up the Turandot Opera Chorus. Giovanni Pirandello is joining the team as lighting designer.

The role of Prince Calaf is played by Italian tenor Alessandro Liberatore. Korean soprano Lilla Lee plays Princess Turandot. Bass Jinsu Lee plays Timur, the exiled Tartar king. Other performers are Filipino soprano Rachelle Gerodias in the role of Liu; Byeong In Park as Ping the Grand Chancellor; tenor Ervin Lumauag as Pang the Grand Administrator; tenor Ivan Nery as Pong the Grand Intendant; tenor Nomher Nival as Emperor Altoum, and baritone Greg de Leon as Mandarino. The opera dance ensemble feature artists from Alice Reyes Dance Philippines.

“[Opera] is a catalyst of the artistic development of a country,” Mr. Clemente told BusinessWorld, “It involves various arts from music, dance, and theater.”

Mr. Clemente describes watching an opera like opening a treasure. “Opera is so much more. You have to know the plot, the story, what was the experience of the author, and the origin of the story.”

He noted that the language barrier is not necessarily a hindrance to appreciating the art.

“Opera is so powerful that you do not have to understand every single word. But you have to understand the situation,” Mr. Clemente said. He suggests reading the summary of the story beforehand, then at the theater, the focus is to enjoy the action onstage.

“If the organizer realizes that after this Turandot there is more interest [in opera], they might also extend the number shows next time,” he said.

Turandot is presented by CCP, the Filipinas Opera Society Foundation Inc., and Rustan’s Group of Companies, with the Italian Embassy.

Tickets are available at Rustan’s Customer Service in the department store branches in Makati (8813-3739 Loc 280), Shangri-la (8633-4636 Loc 400), Alabang (8850-5592), and Gateway (8931-2460); at the CCP Box Office (8832-3704); Ticketworld  (8891-9999); and SM Tickets (8470-2222; 0917-870-2222 or e-mail customercare@smtickets.com). Ticket prices for the Dec. 9 gala range from P6,000 for Orchestra Center to P2,500 for Balcony I Sides; while tickets for the Dec.11 matinee range in price from P4,000 for Orchestra Center to P1,500 for Balcony I Sides. — Michelle Anne P. Soliman

Cebu Air says leadership change to support growth plans

CEBU AIR, Inc. (CEB) said recent leadership changes in the company form part of its succession planning as it seeks continued growth and to become more “globally competitive”.

“It’s really about succession planning and really preparing us for the next phase of growth of the airline,” CEB Vice-President for Marketing and Customer Experience Candice Jennifer A. Iyog said at a media briefing on Tuesday.

“With the amendment of the Public Service Act last March 2022, which is really intended to make Philippine businesses globally competitive, this is now going to enable us to actually hire or have a chief executive officer (CEO) who has experience and expertise who can help us with the next phase of our growth regardless of nationality,” Ms. Iyog added. “But having said that, it’s also good to know or be reminded that 96% of our employees are Filipino.”

The amended Public Service Act was signed in March to allow up to 100% foreign ownership of public services in the country.

On Monday, CEB said in a disclosure to the local bourse that it has appointed its president and CEO Lance Y. Gokongwei as chairman, which will give him the responsibility to preside over all meetings of the stockholders and the board.

Meanwhile, it elected its current chief executive adviser, Michael Szucs, as CEO, while its incumbent chief commercial officer, Alexander G. Lao, will also be the president of the company in addition to his existing position.

The appointments, as approved by the company’s board of directors, will be effective by Jan. 1.

Meanwhile, the company said it will be adding 11 brand new Airbus NEO aircraft to its fleet in 2023 to support its growing capacity and travel demand.

The 11 additional planes are: three A320neo, four A321neo, and four A330 neo.

“All aircraft deliveries will use blended Sustainable Aviation Fuel (SAF) as part of the airline’s sustainability efforts,” the company said in a press release.

The carrier aims to transition to an all-NEO fleet by 2028 and incorporate the use of SAF for its entire commercial network by 2030.

The company said it has now restored 92% of its system-wide capacity and expects to fully recover by next year. — J.I.D. Tabile

Ovialand gets P600-M loan facility

MASS HOUSING developer Ovialand, Inc. has secured a P600-million loan facility from Security Bank Corp. for its expansion plans.

Ovialand said in a press release on Tuesday that SB Capital Investment Corp. solely arranged the issuance of the loan facility that was fully taken up by its parent.

“We are pleased to partner with SB Capital and Security Bank as we attempt to achieve new milestones in our history,” Ovialand President and Chief Executive Officer Marie Leonore Fatima Olivares-Vital said in a statement.

“Ovialand is enjoying a stellar performance in 2022 despite current economic headwinds, and this financing package from Security Bank will enable the company to be more aggressive in realizing its growth potential,” she added.

Ovialand said they intend to use the funds in pursuing its expansion plans which include developing new horizontal projects and in increasing the size of its landbank.

“We are greatly appreciative of the trust provided to us by Ovialand in arranging this facility that will be crucial to their growth,” SB Capital President Virgilio O. Chua said.

“We believe that this transaction will ripple into bigger and better capital raising exercises and we are excited to partner with Ovialand in such efforts,” he added.

Meanwhile, Ovialand said in a separate press release that it was awarded as one of “Asia’s Leading SMEs” in the Enterprise Category by The Asia Corporate Excellence & Sustainability Awards last month.

The company offers premium affordable housing in South Luzon and has recently launched its third project in Laguna called Santevi.

The Santevi project is expected to expand the company’s portfolio in Laguna to more than 2,100 units.

Ovialand said it is eyeing P2.3 billion from the sale of 707 house-and-lot units and it will meet its year-end projection of P1.2 billion in revenues.

“As we head towards the end of 2022, we reflect on the success we have achieved while looking forward to what we can do in the years to come,” Ms. Olivares-Vital said. — Justine Irish D. Tabile

Pfizer applies for FDA authorization for Omicron-retooled vaccine booster in kids under 5

FREEPIK

PFIZER, INC. and its German partner BioNTech SE said on Monday they have submitted an application to the US Food and Drug Administration (FDA) for emergency use authorization of their Omicron-adapted coronavirus disease 2019 (COVID-19) vaccine booster for children aged 6 months through 4 years.  

If authorized, children would receive the primary series consisting of two doses of the original Pfizer-BioNTech COVID vaccine and one shot of the Omicron-adapted bivalent vaccine, the company said.  

The bivalent COVID-19 vaccine, which targets the original strain and the BA.4/BA.5 Omicron subvariants, is currently authorized as a booster dose for ages 5 years and older in the United States and the European Union.  

Last month, a real-world study of more than 360,000 people in the US found the updated bivalent boosters, including those of rival Moderna, Inc., offered increased protection against new coronavirus subvariants in people who have received up to four doses of the older vaccine. — Reuters

PETA Theater returns to live theater with new original musical

A SCENE from Rody Vera’s musical Walang Aray

THE PHILIPPINE Educational Theater Association (PETA) returns to live theater with a new original musical, Rody Vera’s Walang Aray.

The musical was chosen to launch the company’s comeback and cap the company’s Emerald year after waiting in the wings since its first laboratory performances in 2018 and 2019.

After the coronavirus pandemic disrupted life for the last three years, the audience deserves a time to laugh and enjoy themselves.

“It’s necessary, after three years of what we went through — not only the pandemic, but also the elections — to do something irreverent and funny. I think that is what people need right now. They need a space to laugh, to sort of allow themselves to have fun and enjoy something,” PETA artistic director, Maribel Legarda said at the media launch on Nov. 28.

“But of course, in PETA, it’s not just having fun. PETA believes that good comedy makes you think and reflect, and Walang Aray is exactly that,” Ms. Legarda added.

Presented by PETA with Indie.Go Media, in partnership with Star Magic, Walang Aray is an adaptation of a screenplay of the same name, based on Severino Reyes’ classic zarzuela, Walang Sugat.

“We must evolve. We cannot do things over and over the same way, we must change, challenge, and chase forward. That is why Walang Sugat evolved to Walang Aray, from the stage, adapted to screenplay, and back to the stage — and we tried to make the comeback different,” Ms. Legarda said.

Jun Reyes, the grandson of Severino Reyes said, that if his grandfather is alive today, “He would be amazed.”

“The retelling of this story with the creative mind of Rody [Vera] is made more relevant for our generation now,” Mr. Reyes said. “It [is] history retold in a fresh way…I think he would be very happy of the refreshed idea for his classic Walang Sugat.”

Mr. Reyes first commissioned playwright Rody Vera in 2008 to do a hip film version of the story. It was envisioned as a jukebox musical which would feature OPM songs. However, the film project was shelved for almost a decade.

“I decided to have it read by PETA Artistic Director Maribel Legarda, hoping it could be adapted into a stage play instead. She was interested but wanted original songs written in place of the OPM covers. Initially I was a bit reluctant because some of the scenes in the screenplay were written with the chosen OPM song in mind,” said Mr. Vera in his playwright’s notes.

Walang Aray follows lovers Julia and Tenyong who struggle to hide their relationship from Julia’s mother Juana who wants her daughter to wed the affluent Miguel. However, Julia and Tenyong’s relationship struggles when she joins the revolution.

Walang Aray merges the classic with contemporary language, pop tunes, and tongue-in-cheek humor.

“Walang Aray also pokes fun at the usual villains in our history — but also it is just as irreverent at those we have traditionally held high in our regard: the demure Filipina, now a feisty, daring, passionate woman who knows exactly what she wants and will do anything to achieve it,” Mr. Vera wrote.

With the various issues continuously plaguing the nation, Mr. Vera noted that Filipinos overcome them “with a stubborn resilience and defiance in ways only we Pinoys know best: our scathing and penetrating humor.

“Whether we laugh at ourselves or we laugh at our oppressors, we have used it to understand and frame our lives as Pinoys, still keeping our dignity intact despite our furtive mischievous smile,” he wrote.

Walang Aray stars Star Magic’s KD Estrada and Alexa Ilacad (KDLex), alternating with theater artists Gio Gahol and Marynor Madamesila as Tenyong and Julia.

The cast includes PETA artists Jarred Jaicten, Kiki Baento, Carlon Matobato, Gie Onida, Norbs Portales, Neomi Gonzales, John Moran, Tom Bienvenida, Donn Boco, Gerard Dy, Yeyin Dela Cruz, Ada Tayao, and Ayla Garcia.

Young PETA artists make up the creative team including Ian Segarra (director), Vince Lim (composer, musical director, sound designer, additional lyrics), Happy Constantino (sound designer), Gio Gahol (choreographer), Julio Garcia (production designer) and Ayla Garcia (voice coach). They are joined by guest artists David Esguerra (lighting designer), and JayLo Cunanan (costume designer).

Walang Aray will run at the PETA Theater Center from Feb. 17 to May 14, 2023. Tickets will be available via TicketWorld.com.ph starting Dec. 10. For bulk tickets and show buying inquiries, contact Mitch Go at 0917-539-1112. — Michelle Anne P. Soliman

Yamaha Philippines rolls out solar power system

MOTORCYLE BRAND Yamaha Motor Philippines, Inc. energized on Monday its 170-kilowatt peak (kWp) solar rooftop photovoltaic system on its administration building in Malvar, Batangas. 

Arnel Recolizado, Yamaha Motor Philippines general manager for production engineering, said during the launch event at Lima Technology Center that the solar rooftop project is part of the environmental plan 2050 of the global Yamaha Group.

“This is a very important milestone for us to start our renewable energy initiative,” Mr. Recolizado said.

The solar project was done under a partnership between Yamaha Motor Philippines and Excell Energy and PowerGen Corp., which is a unit of licensed retail electricity supplier Mabuhay Energy Corp.

According to Yamaha, the solar rooftop system placed on its administration building can generate up to 216 megawatt hours (MWh) of electricity per year and will allow the company to reduce its electricity bills and carbon footprint.

“The solar rooftop system’s levelized cost of electricity (LCOE) is P2.27 per kilowatt hour (kWh) which is way below the current grid rate of about P11 to 14 per kWh,” Yamaha said.   

“In terms of environmental contributions, the utilization of the system will avoid the burning of 70 metric tons of coal per year and eliminate approximately 140 metric tons of carbon dioxide, which is the equivalent of planting about 1,951 trees per year,” the company added.

Yamaha Motor Philippines President Hiroshi Koike said that the capacity of the solar project will be expanded by 1 MW next year.

“Our goal is not just to save on costs but more importantly, to curb carbon emissions. As a global company, we are very conscious about our role and impact to the society and the environment,” he said.

“While still relatively small, it somehow allows us to already realize our vision of contributing to Yamaha Group Environmental Plan 2050. This is just the beginning.  By next year, the capacity will be expanded by 1 MW,” he added.

Sherwin Hing, Excell Energy chairman and chief executive officer, said that the project has been completed without any accidents and interruptions.

“Confidently, we are proud to say that the project has been completed without any accidents and interruptions whilst closely adhering to Yamaha’s installation standards. It has also passed the critical parameters for grid connection. We thank Yamaha for the trust and look forward to strengthening our partnership,” he said.

In 2021, Yamaha Motor Philippines finished a P2.6-billion expansion plan aimed at solidifying its market stronghold and contribute to the country’s economic growth. — Revin Mikhael D. Ochave

Rising flu cases drive up US hospitalizations, CDC says

UNSPLASH

WASHINGTON — The United States is experiencing the highest levels of hospitalizations from influenza that it has seen in a decade for this time of year, the head of the US Centers for Disease Control and Prevention (CDC) said on Monday, adding that 14 children have died so far this flu season.  

CDC Director Rochelle Walensky added that US hospital systems also continue to be stressed with a high number of patients with other respiratory illnesses such as respiratory syncytial virus (RSV) and coronavirus disease 2019 (COVID-19).  

There have been at least 8.7 million illnesses, 78,000 hospitalizations, and 4,500 deaths from flu so far this season, according to CDC estimates. It urged people to get vaccinated.  

“Especially for RSV and flu, these levels are higher than we generally see this time of year,” Dr. Walensky told reporters in a telephone news briefing. She said flu season started earlier and “hospitalizations for flu continue to be the highest we have seen at this time of year in a decade.”  

Respiratory viruses are spreading as people gather indoors due to the colder weather. People also likely have weakened defenses after not being exposed to flu and RSV while working or schooling from home during the COVID-19 pandemic.  

Vaccination rates for people at higher risk from the flu — those 65 and older, children and pregnant women — are also lower than at this time last year, Dr. Walensky added.  

About 12% fewer pregnant women have been vaccinated so far this season compared to last season, and about 5% fewer children, Dr. Walensky said.  

Between Oct. 1 and Nov. 26, the rate of hospitalization for flu in the United States was 16.6 per 100,000 people. In the past 10 years, the cumulative rate during the same week of the year typically ranges from 0.1 to 2 per 100,000.  

COVID-19 cases have risen following the Thanksgiving holiday and COVID-related hospitalizations have also increased about 15% to 20% over the last week, Dr. Walensky said.  

Dr. Walensky, joined by Dr. Sandra Fryhofer, an internist who chairs the American Medical Association board, urged people to get flu shots now — despite possibly being wary or tired of vaccinations — saying it was not too late.  

“This year’s flu season’s off to a rough start,” Dr. Fryhofer said. “It started early, and with COVID and RSV also circulating, it’s a perfect storm for a terrible holiday season.” — Reuters

Gov’t fully awards bond offer on strong demand, dovish BSP bets

BW FILE PHOTO

THE GOVERNMENT fully awarded the reissued 25-year Treasury bonds (T-bonds) it offered on Tuesday at a lower average rate amid strong demand and even as inflation reached a fresh peak in November.

The Bureau of the Treasury (BTr) raised P35 billion as planned from its offer of reissued 25-year papers on Tuesday as total bids reached P79.44 billion.

The bonds, which have a remaining life of 11 years and 11 months, were awarded at an average rate 7.189%, down by 97.9 basis points (bps) from the 8.168% quoted for the papers when they were last offered on Nov. 15, with accepted yields ranging from 6.9% to 7.25%.

The average rate was also 206.1 bps below the issue’s 9.25% coupon and 21.25 bps lower than the 7.4015% quoted for the same bond series at the secondary market before the auction, based on PHP Bloomberg Valuation Service Reference Rates data from the BTr. However, it was 21.31 bps higher than the 6.9759% yield for the 10-year bond, the tenor closest to the remaining life of the issue, at the secondary market.

National Treasurer Rosalia V. de Leon said in a Viber message to reporters after the auction that the full award was made amid “strong demand and a significant decline in rates, even as November inflation settled at 8%.”

She said rates dropped on expectations that inflation had peaked and amid dovish signals from the Bangko Sentral ng Pilipinas (BSP).

Asked if the BTr will consider including longer tenors in its borrowing plan for next month after the successful auction, Ms. De Leon said they may do so “if the market pricing is good.”

“Despite the higher-than-expected inflation print, the average yield for today’s auction settled within expectations given that some dealers and investors are still armed with liquidity from maturing government securities,” a trader said in a text message on Tuesday.

“Yields on peso bonds have been steady with downward bias given the view that rate hikes will no longer be aggressive relative to rate hikes done in recent months,” the trader added.

UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion likewise said the accepted rates were within expectations.

“Nevertheless, a huge chunk of the tenders was rejected, and it seems the market is still pricing in the Bangko Sentral ng Pilipinas’ monetary policy move. With inflation now rising to 8%, it is hard not to expect the BSP tweaking rates by another round of 50 bps by the December meeting,” he said in a Viber message.

Headline inflation stood at 8% in November, its quickest pace in 14 years, driven by rising food costs due to typhoon damage. This was faster than both the 7.7% in October and the 3.7% in the same month last year.

It was also the fastest headline print since the 9.1% in November 2008 and was higher than the 7.8% median estimate in a BusinessWorld poll last week.

For the first 11 months, inflation averaged 5.6% versus the 4% seen in the same period a year ago. This is still lower than the BSP’s 5.8% full-year forecast but well above its 2-4% target.

BSP Governor Felipe M. Medalla last week said the central bank is likely to hike interest rates anew this month, but the Monetary Board has yet to decide whether to tighten by 25 or 50 bps on Dec. 15 following dovish hints from the US Federal Reserve chief.

Fed Chair Jerome H. Powell last week said it was time to slow the pace of upcoming rate increases. The US central bank now widely expected to raise rates by just 50 bps in its last policy meeting for the year to be held on Dec. 13-14 following four straight 75-bp hikes.

The BSP has raised borrowing costs by 300 bps since May, while the Fed has hiked rates by 375 bps since March.

The BTr wants to raise P135 billion from the domestic market this month, or P30 billion through Treasury bills and P105 billion from T-bonds.

The government borrows from local and external sources to help plug a budget deficit capped at 7.6% of gross domestic product this year. — Luisa Maria Jacinta C. Jocson

Kirstie Alley, Cheers and Look Who’s Talking star, 71

KIRSTIE ALLEY in Cheers.

LOS ANGELES — Kirstie Alley, the two-time Emmy-winning actress who rose to fame in her role on the hit TV series Cheers, died on Monday after a short battle with cancer. She was 71.

Ms. Alley’s death was confirmed to Reuters by her representative and through a statement from her children posted on her official Twitter account saying that the actress had died at the Moffitt Cancer Center in Florida.

“To all our friends, far and wide around the world … we are sad to inform you that our incredible, fierce and loving mother has passed away after a battle with cancer, only recently discovered,” True and Lillie Parker said in a statement.

“She was surrounded by her closest family and fought with great strength, leaving us with a certainty of her never-ending joy of living and whatever adventures lie ahead. As iconic as she was on screen, she was an even more amazing mother and grandmother.”

Alley’s breakout role came as Rebecca Howe in the NBC sitcom Cheers, which she starred in from 1987 until 1993, and for which she received an Emmy and a Golden Globe award in 1991. She won her second Emmy in 1994 for the television film David’s Mother.

Ms. Alley also starred alongside John Travolta in the 1989 film comedy Look Who’s Talking and its two sequels.

“Kirstie was one of the most special relationships I’ve ever had,” Mr. Travolta said on Instagram alongside a photo of the actress in a white dress. “I love you Kirstie. I know we will see each other again.”

Ms. Alley starred as the title character in the sitcom Veronica’s Closet from 1997 to 2000, earning Golden Globe and Emmy nominations.

She later competed on Dancing with the Stars and The Masked Singer. — Reuters

Globe cell sites in Mindoro, Marinduque fired up

GLOBE TELECOM, Inc. announced on Tuesday that it has fired up 26 new cell sites in Oriental Mindoro and Marinduque through partnerships with local cooperatives.

The company partnered with the Oriental Mindoro Electric Cooperative, Inc. and the Marinduque Electric Cooperative, Inc. to power up 17 cell sites and nine towers, respectively, Globe said in an e-mailed statement.

“These benefitted around 102,000 customers in both provinces through faster and more reliable internet connection.”

According to the Ayala-led telco, the partnership involves a joint pole deal that allows it to tap the electric cooperatives’ infrastructure for connectivity equipment. 

“The cooperatives also assist Globe with its permanent power applications and securing necessary permits,” the company said.

Globe has spent P50.5 billion in the first half of this year, mainly on network expansion and upgrades.

The goal is to “provide better and faster connectivity to … customers,” the company said. “This figure closed at P74.4 billion by end-September.”

“Within the same period, it installed 572 new cell towers and upgraded 6,800 mobile sites to 4G (fourth generation),” it added.

The company intends to build at least 1,700 new cell sites by yearend.

Globe saw its total comprehensive income increase 37% to P24.9 billion at end-September. — Arjay L. Balinbin

Few Chinese keen to travel abroad soon, even if COVID curbs ease — report

STOCK PHOTO

SHANGHAI — More than half of Chinese say they will put off travel abroad, for periods from several months to more than a year, even if borders reopened tomorrow, a study showed on Tuesday, a sign that consumer recovery from coronavirus disease 2019 (COVID-19) measures will take time.  

Mainland China retains some of the world’s most stringent measures on PCR testing and quarantine for international travelers, despite some domestic easing of curbs after last month’s unprecedented COVID protests.  

Fear of infection with the disease was the top concern of those saying they would postpone travel in a survey of 4,000 consumers in China by consultancy Oliver Wyman, with worries about changes to domestic re-entry guidelines in second place.  

“People have become cautious,” said Imke Wouters, a retail and consumer goods partner at the firm. “So even when they can travel, we don’t think they will come back right away.”  

As many as 51% of those surveyed plan to delay international travel. And when they do, short-haul destinations will be the first to benefit, the consultancy said in its study, “China Consumption Recovery.”  

The Asian financial hub of Hong Kong topped wishlists for travel, with 34% of respondents saying it would be their first stop after the reopening.  

The survey, in late October, followed the 20th Congress of the ruling Communist Party in Beijing, which brought President Xi Jinping a precedent-breaking third term as leader, at an event many had hoped would herald an opening-up after COVID.  

China was formerly the world’s largest outbound tourism market, but its overseas visitors, who spent $127.5 billion on such trips in 2019, have virtually disappeared after it all but shut international borders in early 2020 and curbed non-essential travel by citizens.  

China’s uncompromising “zero-COVID” effort hit the economy hard, and it is expected to reshape policies soon, though analysts have warned that any reopening will be bumpy and complex.  

As many as 83% of the executives in China who responded to the survey said “a long road to consumer confidence recovery” was set to affect their mainland business over the next year.  

While the report found consumer sentiment subdued by lockdowns and economic uncertainty, Wouters said Chinese consumers still showed a willingness to boost spending next year if conditions improve.  

Nearly half, or 44%, of respondents cited an increase in personal savings as a reason they were likely to spend more next year.  

China’s household deposits increased to 13 trillion yuan ($1.8 trillion) for the period from January to September this year, up from 8.5 trillion for the corresponding 2021 period.  

Most spending in the next 12 months will focus on personal well-being, in areas linked to health, fitness or wellness.  

The outlier, according to Wouters, was Gen Z, or the group born in the period spanning the mid- to late 1990s and the early 2010s, which would focus spending on “living in the moment.”  

“We don’t expect to see the same boom in luxury spending that we saw in 2021,” she said. “But whatever growth we do see will be driven by Gen Z.” — Reuters 

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