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SEC issues warning versus four entities

THE Securities and Exchange Commission (SEC) has warned investors against the investment solicitation programs of Wow Negosyo, U-Trade Beauty and Wellness Products Trading, U-Bet Trade International Opc, and Kinney Infotech Corp.

In three separate advisories, the regulator said none of the entities have the necessary licenses to collect investments from the public.

According to SEC, Wow Negosyo is a company of Wealth on Web Company/WOW Company/WOW Trade, for which the regulator issued an advisory in October for its investment activities.

“Wow Negosyo is not registered as a partnership nor as a corporation with the SEC. Hence, it is not authorized to solicit investments from the public as it has not secured prior registration and/or license to solicit investments from the commission as prescribed under Section 8 of the Securities Regulation Code (SRC),” the commission said.

The regulator said it received inquiries on Wow Negosyo’s newly approved “complan” under Wealth on Web Company/WOW Company/WOW Trade.

“The public is advised not to invest or stop investing in any investment scheme being offered by Wow Negosyo and exercise extreme caution in dealing with any individuals or group of persons soliciting investments or recruiting investors for and on behalf of Wow Negosyo,” SEC said.

At the same time, the commission said a certain Phoebe Evangelista Gracilla heads both U-Trade Beauty and Wellness and U Bet Trading International (U-Trade).

It said U-Trade has several investment plans, including a scheme that promises investors passive income worth 500% of their investment within a 25-day “lock-in” period and other referral commissions.

U-Trade Beauty and Wellness Products is registered with Department of Trade and Industry, while U-Trade is registered with SEC. However, neither is licensed to solicit investments from the public.

SEC added that both the Gracilla-led entities are also not registered as virtual asset service providers (VASPs) with the Bangko Sentral ng Pilipinas. Both also lack the certificates of authority as a money service business as required under the guidelines for VASPs.

Kinney Infotech is luring the public to invest “with the promise of high monetary rewards or profits.” It is offering a “project plan” from basic package of P5,000 with a guaranteed return of 18,600, while a “supreme package” of P40 million with P93,6000.

SEC said that while Kinney Infotech is registered with the commission, it is “not authorized to offer, solicit, sell, or distribute any investment/securities to the public.”

The regulator warned that those involved in the operations or those who act on behalf of U-Trade Beauty and Wellness Products, U-Trade, and Kinney Infotech may be “prosecuted or held criminally liable” under Section 28 of the SRC.

Violators may be fined with as much as P5 million and/or a penalty of 21 years behind bars, SEC said.

BusinessWorld tried to reach out to the four entities. — Keren Concepcion G. Valmonte

Treasury bill, bond rates may decline this week

BW FILE PHOTO

RATES OF government securities on offer this week could decline in line with the lower yields at the secondary market.

The Bureau of the Treasury (BTr) on Monday will auction off P10 billion in Treasury bills (T-bills), broken down into P2 billion in 91-day debt papers, P3 billion in 182-day instruments, and P5 billion in 364-day securities.

The government will also offer P20 billion in reissued seven-year bonds with a remaining life of six years and eight months on Tuesday.

“I think yields for T-bills will move about 5 basis points (bps) down and yields for the reissued 7-year notes will range from 4.45% to 4.65%,” a trader said in a Viber message.

“It appears that investors started purchasing securities towards the long end of the curve after the BTr rejected all bids for the 10-year notes last week,” the trader added.

The BTr last week rejected all bids for its offer of reissued 10-year T-bonds, even as tenders reached P42.44 billion.

Had the BTr fully awarded the offer, the tenor’s average yield would have declined by 5.9 bps to 5.071%. However, this would have been higher than the 4.99% quoted for 10-year bonds at the secondary market before the auction.

Meanwhile, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message that government securities on offer this week may see lower rates as they track secondary market yields.

Yields on government securities at the secondary market mostly declined last week following the release of November inflation data. Rates fell by an average of 1.05 bps week on week, based on the PHP Bloomberg Valuation Service (BVAL) Reference Rates of Dec. 10 published on the Philippine Dealing System’s website.

At the secondary market on Friday, the 91-, 182-, and 364-day T-bills were quoted at 1.2039%, 1.4505%, 1.6774%, respectively, based on the PHL BVAL Reference Rates.

Meanwhile, the seven-year bonds fetched a yield of 4.5843%.

The BTr made a full P10-billion award of the T-bills it offered last week. The securities fetched bids worth P41.285 billion, more than four times the offer and also beating the P37.65 billion in bids seen a week earlier.

Broken down, the government sold the programmed P2 billion in three-month securities with tenders amounting to P13.3 billion. The tenor saw its average rate slip by 0.9 bp to 1.155% from 1.164% in the prior auction.

Meanwhile, the BTr raised P3 billion as planned through the 183-day debt papers as bids hit P16.012 billion. The six-month instruments fetched an average rate of 1.443%, down by 0.6 bp from 1.449% a week earlier.

The government also borrowed P5 billion as programmed via the one-year T-bills as demand hit P11.973 billion. The 365-day T-bills fetched an average rate of 1.643%, up by 0.7 bp from 1.636% previously.

On the other hand, the Treasury partially awarded its offer of reissued seven-year bonds on Oct. 26, raising P19.315 billion. The papers, which had a remaining life of six years and nine months at that auction, fetched an average rate of 4.468%, higher by 26.1 bps than the 4.207% quoted when the series was last offered on Oct. 5.

For this month, the government is looking to raise P70 billion via the local market: P30 billion from T-bills and P40 billion through T-bonds.

It wants to raise P3 trillion from local and external sources this year to help fund a budget deficit that is expected to hit 9.3% of economic output. — L.W.T. Noble

The Camry-turns in hybrid form

PHOTO FROM ANGEL RIVERO

The country’s favorite executive sedan dons an electrified suit

AS FAR as I can remember, the Toyota Camry has long been an extremely popular choice of sedan among executives and business leaders. I would even go as far as saying that among Filipinos, it has always been perceived as an aspirational model — a kind of success symbol — when one does well in work and begins to crave for more comforts in life while maintaining that Filipino-ingrained sense of practicality.

This is how I knew the Camry growing up. And not so surprisingly, with us entering the third decade of the 21st century, the Toyota Camry still remains one of the strongest-selling models in its vehicle category in the country. To demonstrate, at the end of 2020 alone, the Camry nabbed a robust 71% share of vehicle sales in its segment.

The cool news is that Toyota Motor Philippines (TMP) has just, over the weekend, announced the introduction of the Camry’s 2022 model update — and it now comes as a hybrid! You heard me right: The latest model now joins its smaller siblings in Toyota’s hybrid sphere in the Philippines, making it the latest hybrid electric vehicle (HEV) addition to join the Prius, Corolla Altis Hybrid, and Corolla Cross Hybrid. And as we already know, hybrid vehicles are easier to adapt to in the Philippines because they don’t require any additional charging infrastructure, or demand any significant changes in driving behavior. Toyota’s HEV technology allows for its hybrid vehicles to easily and automatically switch between using an internal combustion engine to using its hybrid battery’s power, based on the amount of available charge and the driving conditions involved (like current speed and acceleration).

“A favorite among customers worldwide, the Toyota Camry is well-loved for its powerful elegance that comes with quality, durability, and reliability. We have redefined greatness with this executive sedan. This is leadership that remains to be responsible,” shared a very enthusiastic Toyota Motor Philippines President Atushiro Okamoto.

The Camry name is actually taken from the Japanese word “kanmuri,” which means “crown.” Having said that, some people even refer to the Camry as the “king of sedans,” having maintained such a strong and consistent market desirability through the years.

The 2022 Toyota Camry hybrid comes equipped with a 16-valve, four-cylinder in-line engine paired with a hybrid powertrain that offers the option of full EV mode (speed and power-permitting). It also carries the latest version of the Toyota Safety Sense suite of features, and comes with an upgraded infotainment system. On the dash is a nine-inch display audio compatible with Apple CarPlay and Android Auto. And providing a luxurious auditory experience for its occupants is a nine-speaker JBL sound system. Wireless charging is available in the cabin; a splendid moonroof completes the upscale interior.

The new Camry comes in the following exterior hues: Platinum White Pearl Mica, Metal Stream Metallic, and Attitude Black Mica. Prices start at P2.335 million.

2022 Fashion trends for a world in transition

NEXT year, 2022, will be all about the hope to transition back as close as possible to normalcy, facing the world anew with work-leisure ensembles that do not compromise comfort, versatility, and function.

Next year’s fashion trends were announced by WGSN, a giant trend forecaster comprised of a team of over 250 experts and data scientists that curate an immense online library of insights and inspirations in fashion, retail, and the whole lifestyle industry.

Fashion designer and industry expert Ionica Abraham Lim  said, “2022 fashion would be best described as a time for joyful expression.”

“We are now going back to a more tailored look but with a softer approach in materials. We focus on items that we are familiar with but mixed with something that we are looking forward to,” said the educator from the De La Salle-College of Saint Benilde School of Design and Arts, which utilizes WGSN as a learning tool and experience for its students.

Amid the new hybrid set-up, 2021 trends such as above-the-keyboard dressing and loungewear will be transformed into more defined looks that adapt from work to leisure. Elevated basics that showcase relaxed volumes, handcraft textures, playful digital and organic art prints, layered and oversized details likewise represent optimism and excitement for this new chapter.

Womenswear is leaning on items that are both staycation-and-outdoor-friendly with classic lines and soft textures. The new work set-up calls for business casual in relaxed shapes and more polished looks while the highly anticipated social gatherings will see a comeback for playful and textured outfits.

“Familiar silhouettes with innovative design details such as ruching and digital prints made from ethically sourced materials will help raise the classic cuts,” Ms. Lim added.

“People are more ready and willing to experiment with new trends that embody their emotions while still looking for practical products that will offer cross functionality,” Ms. Lim explained. “The 2020 trends will help shape our lives as we go into the new normal.”

For multi-purpose accessories, she suggested sunhats and scarves that can double as additional protective wear, as well as statement shoulder bags made from different woven materials that also offer modular elements. Heart motif jewelry likewise balance the negative events.

With a promising year ahead, the trends do not only look at elevated basics and joyful aesthetics but also anticipate diverse and high chroma core colors that will usher in optimistic expressions.

For men, clean and crisp lines in natural linens offer effortless outfits that go beyond resort wear. Outdoor style in neutral tones plus functional and modular design are also popular head-turners. For the younger market, the interesting clash of prints and punk is sure to exhibit one’s unique personality.

“We are certainly living in an extraordinary time where change happens so quickly more than before but in fashion, these events only lead to more creativity and innovation,” Ms. Lim explained.

Teen IM Daniel Quizon two points ahead of chess championship

IM DANIEL QUIZON — FIDE

CALL the 2021 Philippine National Chess Championships a Daniel Quizon show.

Mr. Quizon added training partner and fellow International Master (IM) Michael Concio, Jr. on Sunday to his growing list of victims to continue to show dominance midway through the 12-player tournament being done at the Solea Hotel and Resort in Mactan, Cebu.

In a duel between the tournament’s youngest players and World Cup veterans, it was the 17-year-old Mr. Quizon who outplayed the 16-year-old Mr. Concio in 39 moves of a Benko Gambit as the former zoomed to a perfect six points while keeping his stranglehold of the lead with five rounds to go.

The win, coupled by a 62-move loss by erstwhile No. 2 IM Ricky de Guzman to IM Ronald Dableo in their King’s Indian showdown, further widened Mr. Quizon’s lead to a full two points.

At distant No. 2 were Messrs. De Guzman and Dableo with four points each while IMs Jan Emmanuel Garcia and Paulo Bersamina agreed to a quick draw to share No. 4 with 3.5 points apiece.

And the Asian Juniors blitz champion could further stretch his lead if he could hurdle Mr. De Guzman in their seventh-round duel at press time.

A triumph in this 11-round event would earn Mr. Quizon P80,000 and a seat to the Hanoi Southeast Asian Games next year and the 2023 Asian Indoor and Martial Arts Games in Bangkok and Chonburi, Thailand.

Mr. Quizon was also hoping to earn rating points here as he plans to resume his Grandmaster title campaign early next year.

The 12-player event is being bankrolled by PSC chair William Ramirez, POC President Abraham Tolentino, NCFP President Prospero Pichay, Jr, Chess Movement, Inc. chair Ariel Potot, PCSO general manager Royina Garma and Atty. Roel Canobas. — Joey Villar

Agtech companies boom as investors target climate-friendly technology

REUTERS

INVESTORS have poured a record $7.8 billion into agriculture technology (agtech) deals so far this year, amid booming demand for climate-friendly investments, food security and productivity gains, according to researcher PitchBook.

Companies working on precision agriculture, which involves monitoring of crops for increased efficiency, got about $380 million in funding in the third quarter, while indoor farming startups got about $525 million, according to a report on Wednesday. Startups working on agricultural biotech, which include plant breeding and GM crops received most of that funding in the third quarter, with $976 million.

Farmers are facing pressure from both sides, from suppliers and governments who demand reduced greenhouse gas emissions, and the impact of climate change making weather and growing conditions more unpredictable.

“There’s been a step-change in investment opportunities in the sector, which is being driven by increased availability of new technologies which can be applicable,” said Mark Lynch, a partner at Oghma Partners, a corporate finance advisory company in London. Across the market, “the relative appetite for risk has gone up because returns are so poor,” he said.

The biggest deals included $430 million for California-based company Pivot Bio, which makes alternatives to nitrogen fertilizer, and $321 million for indoor growers Bowery Farming. — Bloomberg

Cisco says PHL companies shifting to modern cybersecurity technologies

SOME 35% of cyber technologies used by Philippine companies are outdated, Cisco Systems, Inc. said, but most are already starting to modernize their approaches by investing in “zero-trust” strategy and secure access service edge architectures.

More than half or 52% of the respondents from the Philippines consider their cybersecurity infrastructure complex, Cisco said in an e-mailed statement on Sunday, citing its latest study, the Security Outcomes Study Volume 2.

Cisco polled over 5,000 security and privacy professionals in 27 markets around the world, including more than 2,000 professionals from 13 markets in the Asia-Pacific region.

“Organizations are facing multiple challenges while operating in this environment, including complexity in connecting users to applications and data across multiple cloud platforms, inconsistent security policies across disparate locations and networks, difficulty in verifying identity of users and devices, lack of end-to-end visibility of their security infrastructure, etc.,” the company said.

Many companies in the Philippines are now addressing the problem by investing in modern cybersecurity technologies and approaches.

“Ninety percent of respondents in the Philippines said their company is investing in ‘zero-trust’ strategy, with 51% saying their organizations are making steady progress with adopting it and 39% saying they are at a mature state of implementing it,” Cisco said.

Moreover, 87% of the respondents from the Philippines indicated that their companies are investing in secure access service edge architecture, or SASE, with 46% saying they are making good progress toward adopting it and 41% saying their implementation is at mature levels.

Cisco defines SASE as an architecture that combines networking and security functions in the cloud to enable secure access to applications wherever users work, and zero trust as a security strategy that involves verifying the identity of each user or device that connects to an organization’s network to mitigate security risks.

Organizations that have mature implementations of the zero-trust strategy or SASE architectures are seen to have more robust security operations than those with nascent implementations.

“These two approaches are key to building a strong security posture for companies in the modern cloud-first and application-centric world,” the company said. — Arjay L. Balinbin

Chicano, Mangrobang will compete in triathlon, duathlon in Hanoi SEA Games

JOHN Leerams “Rambo” Chicano and Kim Mangrobang will race in both triathlon and duathlon in the Hanoi Southeast Asian  (SEA) Games next year.

Mr. Chicano and Ms. Mangrobang earned their spots to the duathlon team after blowing away the competition in the National Trials held at the Clark parade grounds in Pampanga yesterday.

Mr. Chicano reigned supreme in the men’s side in an hour, 55 minutes and 27 seconds while Ms. Mangrobang dominated the women’s class in 2:14:57.

The recent results mean the two will do twin duty in Hanoi.

Both Mr. Chicano and Ms. Mangrobang snared the individual and mixed relay team SEA Games golds in Subic, but since there will be no team events in Hanoi, they will still have a chance to duplicate the feat thanks to their duathlon qualification.

Triathlon Association of the Philippines (TRAP) President Tom Carrasco said SEA Games veterans Kim Remolino and Fernando Jose Casares also made the squad with unheralded Raymund Torio, who surprised everyone by finishing second to Mr. Chicano in 1:56:49, as top reserve. Jarwyn Banatao and Emmanuel Comendador were also being considered in the pool.

“(Mr.) Chicano and (Ms.) Mangy (Mangrobang) are sure together with (Ms.) Remolino and (Mr.) Casares, who is competing in Spain,” said Mr. Carrasco.

“Torio is a surprise and we will consider him in the duathlon shortlist together with Banatao and probably Comendador, who did not fare well today but remains in the radar,” he added. — Joey Villar

BSP net income doubles in the first 10 months

BW FILE PHOTO

THE CENTRAL BANK booked higher earnings as of October on improved revenues and as it saw foreign exchange gains.

Data released on its website showed the Bangko Sentral ng Pilipinas (BSP) recorded a net income of P63.86 billion in the first 10 months of 2021, twice as much the P31.15 billion it booked in the same period last year.

The BSP’s revenues rose by 47.2% year on year to P142.05 billion as of October from P96.5 billion a year earlier.

Its interest income stood at P95.43 billion, increasing by 35.9% from the P70.21 billion as of October 2020.

Meanwhile, miscellaneous income — which include trading gains, fees, and penalties — climbed by 77.36% to P46.63 billion from P26.29 billion.

The central bank’s expenses grew by 47.4% to P88.5 billion as of October from P60.07 billion a year ago. Interest expense grew by 35% to P50.34 billion from P37.39 billion.

The BSP recognized P10.39 billion in net gains on foreign exchange rate fluctuations in the first 10 months of the year, a turnaround from the P5.14-billion net loss it posted in January-October 2020.

Total assets held by the BSP reached P8.013 trillion as of October from P7.306 trillion last year.

Meanwhile, liabilities rose by 10.22% to P7.877 trillion from P7.146 trillion.

The BSP’s net worth stood at P135.58 billion at end-October, down by 14.9% from P159.44 billion a year earlier. — L.W.T. Noble

Lexus PHL unveils new ES with 2 variants

The ES 300 is one of the core models of Lexus, with more than 2.65 million units sold since the nameplate’s debut in 1989. — PHOTO FROM LEXUS PHILIPPINES

LAST FRIDAY, Lexus Philippines held an online launch for the new Lexus ES, which comes in two trims: the Lexus ES 350 Premier (P4.728 million) and Lexus ES 300h (P3.758 million).

The ES (which stands for “Executive Sedan”) is a midsizer which was introduced in 1989. The seventh generation, to which the updated model belongs, first rolled out in 2018. In a release, Lexus Philippines said that the nameplate is “renowned for its quiet, smooth performance and high levels of cabin comfort and spaciousness. The latest iteration of the ES focuses on strengthening these qualities, refreshing the car’s styling, improving ride and responsiveness, and introducing new, technology-led equipment features.”

A total of 2.65 million Lexus ES units have been sold worldwide since its debut, and is said to be one of the brand’s core models — accounting for one-fourth of its vehicle sales in 2020.

Inside, the ES boasts a driver-centric cockpit along with spacious and comfortable areas for the passengers. Lexus labels this concept “Seat in Control,” a simple idea that says, “from the moment you get in, all the controls you need are within reach and all the information you want is in plain view.” Lexus adopts new cabin colors in the ES.

The new ES gets “human-centered” updates to the Lexus Multimedia System, plus a streamlined instrument panel design for seamless cabin integration. The ES also continues the Lexus Driving Signature philosophy with additional performance updates, including an enhanced rear suspension member brace further improving torsional rigidity, handling stability, and ride comfort. The vehicle’s brake system has also received improvements — with the pedal shape enlarged to improve foot stability and confidence when it is depressed. On ES gas models, the vacuum brake system master cylinder and booster have been optimized to provide a more linear brake pedal feeling and response. The regenerative and hydraulic brake control characteristics of the Electronically Controlled Brake System (ECB) on ES hybrid models have also been optimized to improve pedal feeling.

Up front, the ES displays a new interpretation of the Spindle Grille, flanked by newly designed headlamps.

The Lexus ES 350 Premier is powered by a 3.5-liter V6 engine that offers 302ps and 356Nm of torque, mated to an eight-speed Direct-Shift Automatic transmission. The performance is realized through 235/45 R18 tires.

The variant receives rain-sensing wipers; automatic trunk operation with a kick sensor; semi-aniline leather seats, driver and front passenger 10-way power seats, and front-seat ventilation systems.

Meanwhile, a 12.3-inch Electro Multi Vision Touch Display boasts Apple CarPlay and Android Auto connectivity, Smartphone Linking, and Miracast. A high-end 17-speaker Mark Levinson Premium Surround Sound system provides a voice to the entertainment system. Wireless charging comes standard.

Lexus said that the ES 350 Premier is equipped with the brand’s most advanced safety technology. “The Lexus Safety System (LSS) addresses the three most common accident types: frontal collisions, lane departures, and nighttime accidents. Dynamic radar cruise control; adaptive high beams; lane-tracing assist with lane-departure alert; blind-spot monitor (BSM); and rear cross-traffic alert (RCTA) work in conjunction with an entire suite of standard luxury safety features,” it reported.

The Lexus ES 300h boasts a new-generation hybrid electric system. A 2.5-liter inline-four engine is equipped with laser-clad intake valve seats, which permit increased airflow into the cylinder and an optimized intake port shape that increases the tumble-flow turbulence of incoming air and fuel for high-speed combustion. Lexus said the new engine achieves leading thermal efficiency, combining robust power delivery with excellent response to deliver superb fuel efficiency. The system outputs 178ps and 221Nm, and the ES 300h receives 215/55 R17 tires.

The Japan-headquartered premium car maker said that the ES hybrid electric system achieves excellent fuel efficiency and powerful acceleration owing to a new hybrid transaxle with improved efficient internal power flow and a higher-efficiency power control unit. A new, more compact hybrid battery is located beneath the rear seats, contributing to ideal weight balance and low center of gravity, while assuring cargo space. The ES 300h lays claim to a total system output of 218ps.

The interior features synthetic leather; eight-way power adjustment for driver and front passenger; HEV indicator; eight-inch touch display with Apple CarPlay, Android Auto, Smartphone Linking and Miracast; and a 10-speaker premium sound system. On the safety front, ABS, EBD, and traction control come standard alongside a host of safety features expected in a Lexus luxury sedan.

Michael Nesmith, musician and TV star of The Monkees fame, 78

Michael Nesmith, one of the stars of The Monkees, a 1960s TV comedy series about a rock quartet modeled after the Beatles, died on Friday of natural causes at the age of 78, his family said in a statement on his website.

Mr. Nesmith, known for his trademark wool watch cap and quiet demeanor, was a singer, guitarist, and songwriter for the band, a made-for-television ensemble that would form the cast of the NBC series.

The prime-time hit was inspired in part by the Beatles film A Hard Day’s Night and ran from the fall of 1966 to August 1968.

“With infinite love we announce that Michael Nesmith has passed away this morning in his home, surrounded by family, peacefully and of natural causes,” the family said. “We thank you for the love and light that all of you have shown him and us.”

The band’s albums The Monkees and More of the Monkees, were back-to-back No. 1 LPs and held the top of the chart for 31 consecutive weeks in 1966-67, according to Variety.com.

The TV series, introduced by its catchy theme, “Hey, Hey, We’re the Monkees,” was an immediate ratings hit weeks after the group’s first single, “Last Train to Clarksville,” had topped the pop charts in the autumn of 1966.

The group collaborated early with some of the major songwriters and session musicians of the day, including Neil Diamond, Carole King, Glen Campbell and Hal Blaine.

Their hits included “Mary, Mary,” “You Told Me,” and “You Just May Be the One.”

Mr. Nesmith “expressed the highest part of his being through his voice. And you could get no closer to him then through knowing his work,” his manager, Andrew Sandoval, said on Twitter.

After the series was canceled, Mr. Nesmith branched out with the First National Band, a country-rock band that produced several albums in the early 1970s. He also wrote hits for country stars Linda Ronstadt and Lynn Anderson. He then founded Pacific Arts Corp., a multimedia firm and won the first-ever Grammy Award for music video in 1982.

In 1996-97 Mr. Nesmith rejoined band members Davy Jones, Peter Tork, and Micky Dolenz to tour Britain, make a reunion album and a TV special. Jones died in 2012, and Tork died in 2019.

Mr. Nesmith’s final show was less than a month ago, when he and Dolenz ended a farewell tour at the Greek Theater in Los Angeles on Nov. 14.

“I’m heartbroken. I’ve lost a dear friend and partner. I’m so grateful that we could spend the last couple of months together doing what we loved best – singing, laughing, and doing shtick,” Dolenz said in a Tweet.

When he was young, Mr. Nesmith’s mother Bette Nesmith worked as a secretary, which led to her developing the typewriter correction fluid known as Liquid Paper. — Reuters

Well-milled rice, pork prices up in early Nov.

PHILIPPINE STAR/ MICHAEL VARCAS

THE average retail prices of well-milled rice increased in six trading centers in early November, the Philippine Statistics Authority (PSA) reported.

The PSA said that during Nov. 1-5 period, or the “first phase” of the month, prices of well-milled rice increased by P0.04 to P2.74 compared to October.

Prices in the National Capital Region (NCR) increased P0.04 on average to P42.06 per kilogram. In Baguio City, they rose P0.76 to P38.59, in Batangas City P1.75 to P49.00, in Calapan City P0.42 to P44.02, in Legazpi City P0.56 to P38.18, and in Iloilo City P2.74 to P41.32.

Prices dropped P0.26 to P37.92 in Butuan City, P0.74 to P42.21 in Digos City, and P1.79 to P33.59 in Tuguegarao City.

Retail prices for bone-in pork rose in eight trading centers in the same period.

Prices rose P54.00 to P340 in Batangas City. In Cabanatuan City, they rose P25.00 to P300, in the NCR P9.62 to P273.90, In Iloilo City P24.00 to P250, in San Fernando City P20 to P340, in Legazpi City P10.71 to P354.45, in Tuguegarao City P10.00 to P300, and in Calapan City P2.30 to 287.77.

Prices fell in four trading centers. In Baguio City, they fell P16.97 to P275.76, in Cebu City P16.25 to P178.75, in Digos City P15.31 to P260.20, and in Butuan City P4.13 to P245.87.

The average retail price of galunggong (round scad) rose in nine trading centers.

In San Fernando City, prices rose P55 to P200. In Pagadian City, they rose P43.75 to P148.75, in Tuguegarao City P30 to P220, in Baguio City P14.57 to P194.29, in Calapan City P11.11 to P255.56, in Butuan City P6.58 to P202.53, in Digos City P5.00 to P155, and in the NCR P0.70 to P231.34.

Prices fell P8.31 to P166.23 in Iloilo City, and P60 to P190 in Cabanatuan City. — Luisa Maria Jacinta C. Jocson

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