PHL economy likely to grow ‘at least 7%’ in Q4 — Diokno

December 10, 2021 | 12:32 am

3 forEconomy_MARIKINA_01_VARCAS_081221 — The Philippine Star / Michael Varcas

PHILIPPINE economic growth this year could beat the government’s downgraded target, with fourth-quarter gross domestic product (GDP) likely to expand by at least 7%, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said.

“I think it will be more likely that it will be more than 5% this year. Because right now, the year to date is 4.9%, so it’s stands to reason that the fourth quarter will be at least around 7%,” he said at an online briefing on Thursday.

In the third quarter, GDP rose by 7.1% year on year and 3.8% quarter on quarter.

Economic managers lowered its GDP target to 4-5% in August, from 6-7% previously, after the reimposition of a strict lockdown to curb the Delta-driven surge in coronavirus disease 2019 (COVID-19) infections.

As COVID-19 cases declined, the government eased mobility restrictions and allowed more businesses to reopen. The country is currently under Alert Level 2, but economic managers hope the most relaxed alert level will be implemented by January.

The Health department reported 562 new COVID-19 cases to bring the active caseload to 12,169 on Thursday. Daily infections have plunged from the record highs in September.

Mr. Diokno said there is a need to “patiently maintain” its policy support to drive economic recovery.

“At this point, the BSP remains committed to providing the appropriate policy support to ensure a sustainable path to economic recovery,” he said, ahead of the Dec. 16 policy setting meeting.

Mr. Diokno noted the uneven global recovery that has exacerbated supply issues, which in turn affected inflation.

“Although the increase in prices is expected to slow in the coming years, upside risks to the inflation outlook remain as firms expect supply disruptions to persist until the second half of 2022,” he said.

In particular, Mr. Diokno said the dependence of some local firms on imported raw materials may contribute to higher domestic prices.

He cited higher global non-oil prices, impact of weather disturbances, prolonged pork shortage, and jeepney fare hike petition as factors that could cause faster price increases.

On the other hand, he said that delays in easing restriction measures, lower world economic growth, and the temporary reduction in the excise taxes of petroleum products could help to ease inflation.

“The BSP stands ready to utilize its wide range of policy instruments to ensure that monetary settings remain appropriate to mitigate possible spillovers from external developments that may affect domestic inflation and growth dynamics,” he said.

Headline inflation in November slowed to a four-month low of 4.2%, although still above the central bank’s 2-4% target. This was mainly due to slower increase in food prices.

The country’s inflation has breached the BSP’s target for all months of 2020, except in July when it stood at 4%.

The consumer price index rose by 4.5% year to date, faster than the 4.3% forecast by the BSP. For 2022 and 2023, the central bank expects inflation to return to within target at 3.3% and 3.2%, respectively. — Luz Wendy T. Noble

ASEAN inflation seen at 10-year high in 2022 as demand recovers

December 10, 2021 | 12:31 am

INFLATION in Southeast Asian Nations (ASEAN) economies is set to hit its highest level in a decade next year, setting the stage for the start of monetary policy tightening across the region, according to Bank of America (BofA).

Higher energy prices and a recovery in domestic demand and employment will drive inflation to an average of 2.7% in 2022, up from an estimated 2.2% this year, BofA Securities ASEAN economist Faiz Nagutha said at a media briefing on Thursday. Vietnam and Indonesia are set to see the steepest price growth.

“Inflation is here, and it’s here to stay,” Mr. Nagutha said, adding that it will likely peak in the early part of 2022 before coming off a bit and staying at elevated levels. Global inflation is seen to hit 4.3% next year, up from 3.9% expected this year.

Key points from the briefing:

The US Federal Reserve will likely double the pace of reducing its asset purchases at its December meeting, and will deliver three rate hikes next year starting in June.
A faster Fed taper, along with accelerating inflation, will put pressure on some ASEAN central banks to tighten sooner.
Indonesia seen to hike by 75 basis points (bps), Malaysia and Vietnam by 50 basis points, while Thailand and the Philippines are expected to raise their key rates by 25 bps each next year

• Singapore may further tighten monetary policy on top of a 50-basis-point increase in the currency slope expected in April. — Bloomberg

SMC’s Bank of Commerce plans P4-billion IPO

December 10, 2021 | 12:09 am

San Miguel Corp. (SMC) affiliate Bank of Commerce is eyeing to raise as much as P4.03 billion through an initial public offering (IPO) by March next year.

In an e-mail on Thursday, the Securities and Exchange Commission (SEC) said it received the bank’s registration statement for its IPO on Dec. 7.

The bank is eyeing to offer 280,602,800 common shares for up to P12.50 apiece, with an overallotment option of up to 42,090,400 common shares.

According to Bank of Commerce’s preliminary prospectus dated Nov. 26, net proceeds from the primary offer will be used for lending activities and capital expenditures for its information technology (IT) projects, while the balance will be used for the acquisition of investment securities.

“The issuer will not receive any of the proceeds from the sale of the option shares by the selling shareholders,” the bank said.

Bank of Commerce may net up to P3.34 billion from the sale of primary shares.

The bank said it plans to use P1.8 billion to expand its loan portfolio along with its strategy to generate higher interest income. It said the loans “will be primarily to corporate borrowers as well as some housing and auto loans.”

Meanwhile, the net proceeds that will be allocated for its IT projects will be rolled out from 2022 to 2026.

Its P522-million “ATM Refresh” project entails replacing 273 existing automated teller machines (ATM) machines with 144 cash recycling machines and 129 ATMs will be updated with newer versions. The bank also plans to buy additional 15 cash recycling machines and 15 cash deposit machines for offsite locations.

The full implementation of the ATM Refresh project is slated for 2023, while the bank is expected to make annual payments of P104.4 million until 2026.

Meanwhile, it plans to use P400 million to replace its existing Silverlake Integrated Banking Solution (SIBS) core banking system. The system is projected to “go live” by 2023 with annual payments expected until 2026.

“As part of its liquidity management, the Bank plans to place a portion of the proceeds in Philippine government securities to both generate interest revenue as well as to satisfy the High-Quality Liquid Asset requirements of the BSP (Bangko Sentral ng Pilipinas) under Basel III,” Bank of Commerce said.

Should the net proceeds from the sale of the primary offer be lower than the expected amount, the bank said it still plans to allocate its net proceeds accordingly.

Bank of Commerce aims to conduct an offer period for trading participants and retail investors from March 7 to 18, with a tentative listing at the main board of the Philippine Stock Exchange on March 25.

The bank assigned BDO Capital & Investment Corp., China Bank Capital Corp., Philippine Commercial Capital, Inc., and PNB Capital Investment Corp. as the offer’s joint issue managers, joint lead underwriters, and joint bookrunners. — Keren Concepcion G. Valmonte

GMA Network sets ‘little less than’ P2-B capex

December 10, 2021 | 12:08 am

By Arjay L. Balinbin, Senior Reporter

GMA Network, Inc. announced on Thursday that it had set aside slightly less than P2 billion for next year to cover various projects, including the expansion of its digital transmission network and regional television network.

The amount will also cover the company’s investment in content.

“For next year, the capex (capital expenditures) earmarked is a little less than P2 billion, which will be for the expansion of our digital transmission network, upgrading of our post-production capabilities and of our content playout facilities, and expansion of our regional TV network, etc.,” GMA Network Chairman and Chief Executive Officer Felipe L. Gozon said at the company’s special stockholders’ meeting.

In January, the media company announced that it had allocated more than P20 billion for capex and content cost this year until 2023.

The company aims to construct a new building in Quezon City.

Mr. Gozon said GMA Network expects to miss its consolidated gross revenue target this year. “But we will exceed our net income.”

He said in May that the company was anticipating a 15% increase in its earnings this year, on the assumption that vaccine rollouts across the country would further ease restrictions.

As for his growth outlook for 2022, Mr. Gozon said: “As you know, the situation about the pandemic is improving. That’s why we expect the momentum in the later part of the fourth quarter of the year to continue up to next year.”

“And next year being a presidential election year, we have reason to be optimistic. However, it still depends on how far and fast our recovery will be and whether the pandemic will surge or not,” he added.

Mr. Gozon also recalled that in the 2019 elections, political ad sales accounted for only 5% of the company’s total consolidated sales.

“With the pandemic and the Comelec-imposed… 40-50% discount…, we don’t think that this year of political ads will significantly change from prior elections. In other words, our main source of revenues will still come from recurring advertisers,” he said.

GMA Network stockholders also approved on Thursday the company’s subscription to the increase in the authorized capital stock of its wholly-owned subsidiary GMA Ventures, Inc. (GVI) from P50 million to P1 billion, which subscription will initially be in the amount of P250 million.

They also approved the payment of P100 million for the said subscription, including the grant of authority to GMA Network’s executive committee to make additional payment and, if necessary, to increase the subscription of the company to the authorized capital stock of GVI.

“Our diversification efforts to invest in businesses that are not related to our core business of broadcasting will be carried out by GVI,” Mr. Gozon said.

He also gave updates on GMA Now, the media company’s mobile digital terrestrial television (DTT) receiver, which was launched in February.

“As of Dec. 5, 2021, we have sold something like 31,000 units of GMA Now.”

The lockdowns, he said, had an impact on sales. “But we are still optimistic that sales will gain traction as soon as people [are able to] leave their homes.”

He also said the company sold 740,000 units of its DTT receiver GMA Affordabox this year. “Last year, we sold a little less than one million units. Again, we see that sales of our Affordabox will increase next year.”

GMA Network shares closed 0.15% lower at P13.48 apiece on Thursday.

West Side Story, Dune among AFI’s top 10 movies of 2021

December 10, 2021 | 12:07 am

LOS ANGELES — Musical West Side Story, sci-fi epic Dune, and King Richard, the biopic about the father of tennis champions Serena and Venus Williams, were among the top 10 movies of 2021 as chosen on Wednesday by the American Film Institute (AFI).

RACHEL ZEGLER and Ansel Elgort in West Side Story (2021) — IMDB.COM

The list, which is not ranked, gives an early glimpse into likely frontrunners for the annual Oscars next year. The films were chosen for their cultural and artistic significance.

It also includes global warming satire Don’t Look Up, coming-of-age tale Licorice Pizza, musical Tick, tick…Boom!, deaf community film CODA, Shakespearean drama The Tragedy of Macbeth, thriller Nightmare Alley and drama The Power of the Dog.

British director Kenneth Branagh’s film Belfast, about his childhood in Northern Ireland, was given a special award by the AFI.

“From soaring in spirit to dark and dangerous — from heartbreaking to hilarious — these are the stories that have united us in uncertain times and continue to drive culture forward,” AFI president Bob Gazzale said in a state-ment.

The AFI also named its 10 top TV shows of 2021. They include comedies Ted Lasso and Hacks along with dramas Succession, Mare of Easttown, The White Lotus and Marvel comics series Wanda Vision

1 of 4

Nominations for the Oscars will be announced on Feb. 8. — Reuters

8990 Holdings eyes P165B from home sales

December 10, 2021 | 12:07 am

8990 Holdings Inc. is eyeing to raise P165 billion from selling 78,352 housing units in the next seven to 10 years, which will be supported by its expansive land bank.

The property developer told the exchange on Thursday that it currently has 670.91 hectares in its land bank, which is currently appraised at P41.2 billion.

“While we continue to acquire land bank, it’s very encouraging to know that with just our current land bank, we can expect to see sustainable growth for 8990 as we project an estimated P165 billion in sales,” 8990 Holdings President and Chief Executive Officer Anthony Vincent S. Sotto said.

Its properties in Luzon are currently valued at P30 billion, Visayas at P9.8 billion, and its land in Mindanao is worth P1.3 billion.

For January to September, 8990’s projects are expected to deliver 52,240 units collectively worth P95 billion in sales. Majority or 51% of the projects are in Luzon, 38% in Visayas, and 10% will be from Mindanao-based projects.

8990 Holdings said it expects to hit P20 billion by the end of the year. The company said it has an unrealized sale of P2.75 billion from 1,680 units, most of which will be recognized by the fourth quarter.

“Our outstanding results, both for the third quarter of 2021 and for the first nine months of the year, definitely show an increase in confidence for the future from our core market of first-time homebuyers and end users,” Mr. Sotto said, describing 89% of the housing units as primary homes.

Half of the company’s homebuyers are said to be 35 years old and below, with 64% of them earning P55,000 monthly.

The company said it is able to provide accessible housing to “challenged demographic groups.” Its homebuyers also include undergraduate females, those who live outside of Metro Manila, and overseas Filipino workers.

“This is made possible by our partnerships with institutions that make financing easier for our buyers,” Mr. Sotto said.

The company has added P17.7 billion to the Home Development Mutual Fund. Meanwhile, its sale of receivables without recourse sold to financial institutions covering 2016 to September this year reached P228.2 billion.

As of August, the company also said it started its “end-buyer financing programs.”

The company has so far delivered 81,700 units from 65 projects after over 10 years. It has an occupancy rate of 89% with 324,000 residents.

On Thursday, 8990 shares at the stock exchange climbed 2.06% or 22 centavos to close at P10.90 each. — Keren Concepcion G. Valmonte

SG-based data center firm Digital Edge entering PHL

December 10, 2021 | 12:06 am

DIGITAL Edge (Singapore) Holdings Pte. Ltd. said on Thursday that it is building a data center in Manila with its local partner Threadborne Group.

Digital Edge and Threadborne Group, a family office focused on technology and real estate, have formed a joint venture to “construct and operate a 10-MW data center” in the Philippine capital, the Singapore-based company said.

The project has a “capital commitment in excess of $100 million collectively from both parties,” Digital Edge said in an e-mailed statement to reporters.

The data center is already under construction and is expected to be completed in the fourth quarter of next year.

“The facility will allow Digital Edge to offer flexible, high-quality colocation and interconnection services to both local and international customers in the Greater Manila region,” Digital Edge said.

The country’s colocation market is expected to reach $313 million by 2026, growing at a compound annual growth rate of 22% between 2021 and 2026, the company also noted, citing data from research and consulting firm Structure Research.

“Alibaba Cloud is currently the first and only hyperscale cloud platform to announce a cloud region deployment in Manila, Philippines,” Structure Research Head of Research Jabez Tan said.

“We believe more cloud region announcements will soon follow in the next two years driven by the overall decentralization of hyperscale cloud platforms into more distributed and in-country data center architectures to cater for the increasing performance requirements and data privacy regulations,” he added.

The PLDT group has also announced plans to build a hyperscaler data center in the country next year.

The group intends to complete the project by the first quarter of 2024. Its data center will serve the massive power and IT requirements of global tech giants.

“I think the [budget] for the new data center would be approximately about P5 billion,” PLDT Chief Finance Officer Anabelle L. Chua said during the company’s virtual briefing in November.

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

The Beatles: Get Back and the magic of seeing chords become anthems

December 10, 2021 | 12:06 am

FILMED in Jan. 1969, the documentary Let It Be follows The Beatles rehearsing and recording songs for their 12th studio album of the same name. It also includes footage of the legendary rooftop concert by the group, which would be their last public performance together.

Reaction to the film was lukewarm at the time. The British Film Institue’s Monthly Film Bulletin regarded it as “rather tedious” and the response to the accompanying album fared no better. Writing in the New Musical Express, journalist Alan Smith said the record would stand as a “cheapskate epitaph, a cardboard tombstone, a sad and tatty end” to a glittering and epoch-defining musical career.

But now a new documentary series by director Peter Jackson has re-imagined the film in three lengthy and detailed segments. Thanks to an array of fresh footage, Mr. Jackson’s film sheds new light on this period and the band.

Pre-publicity for the Get Back project emphasized the work that had gone into restoring the original footage.

The kinds of painstaking technical processes that WingNut (Mr. Jackson’s production company) deployed are typical of remastered films and music. These techniques are a key way of marketing the repackaging of old material. With a run-time of eight hours, the huge scope of Get Back is in-keeping with the contemporary penchant for extremely long films, indulgent director’s cuts, and expanded LP box sets featuring multiple versions of songs.

In all these fields, “more” is equated with “best.” However, with Get Back, the initially impressive gloss of the restoration project soon fades as the real fascination lies in the raw and intimate footage of the original project.

We can view Let It Be as a continuation of the fine tradition of cinema verité — documentaries that sought to represent the truth as objectively as possible. With music documentaries, this tradition began with DA Pennebaker’s 1967 Bob Dylan film Don’t Look Back followed by Maysles brothers’ Gimme Shelter and Michael Wadleigh’s Woodstock (both 1970).

In Get Back, the whistle-stop preamble that Mr. Jackson provides, the labeling of every song played (no matter how ephemeral) and the contextual historical information which frames the group for a modern audience are all nice touches. But it is the raw excitement of the original footage that makes the film really soar.

That’s because this version of the story also sheds new light on what was initially remembered as a depressing watch — the Beatles bickering and stuttering their way to a final rupture. As he watched the hours of film footage, Mr. Jackson witnessed a more positive and warmer picture of the group emerging. This is reflected in the previously unseen sequences where the group laugh and lark about and where good humor and encouragement, rather than arguments, shape the mood.

The Let It Be album project (also originally titled Get Back) emerged in early 1969 out of the ashes of the recently released White Album. As writers Roy Carr and Tony Tyler noted, the White Album “indicated the passing of the Beatles as a group… on this LP they act as each other’s session men.”

This idea of the Beatles fading as a coherent unit and writing more as individuals is something I also explore in my own book on the LP. But it would seem that the desire with the original Get Back was to return to a more com-munal way of creating songs, jamming and improvising towards a final version that was unencumbered by recording studio trickery.

The magical evolution of a song from a few chords and snatches of lyrics to a complex arrangement is one of the most fascinating aspects of Get Back. The song “Get Back” itself is a prime example. Developing out of Paul McCartney strum-ming a few chords on his bass, the song’s journey in the film culminates in a triumphant full-blown version in the famous rooftop sequence that closes both films. For Beatles obsessives and less devoted bystanders alike, the chance to eaves-drop on how pop songs are actually made — a normally secretive and mysterious process — is revelatory.

Get Back, while split into three episodes, is eight hours long, which might be daunting for many viewers. While it would have been nice to see this documentary on the big screen, streaming has afforded Mr. Jackson this length. I think this was a deliberate choice by Mr. Jackson to fully immerse the viewer in the slow grind of producing great pop songs.

The famous rooftop concert, viewed from any angle, is truly magnificent, a “shining hour of absolute extreme excitement” as the Beatles own press officer Derek Taylor put it. Publicists tend to exaggerate but in this case the description is spot on, the mundane nature of the performance (especially after all the big talk about concerts in Arabian deserts and ocean liners) demonstrating that often it is the simple things that can mean so much.

The purpose of the album was to allow the Beatles to “get back” to their deep roots as a performing band. As this dream faded it became “let it be” — an expression of resignation and closure. Now, with Mr. Jackson’s version, Get Back means something different again; a return to the original project but also to the Beatles and their legacy, which, well into the 21st century and with the help of this film, still seems firmly assured.

Mark Goodall is a Senior Lecturer on Film and Media, the University of Bradford

Cebu Landmasters launches P1.2-billion corporate tower

December 10, 2021 | 12:05 am

Cebu Landmasters, Inc. (CLI) has launched its P1.2-billion commercial tower Latitude Corporate Center in Cebu Business Park, it said on Thursday.

In a disclosure to the exchange, the listed Visayas-Mindanao property developer said the tower is the first project of BL CBP Ventures, Inc., its joint venture with Borromeo Brothers Estate, Inc.

Latitude Corporate Center aims to attract local and multinational firms as its tenants. This includes banks, technology service providers, real estate, companies from food and retail industries, and IT-BPO firms.

“Our economy is now reopening and we see a future turnover for office spaces, especially from the IT-BPO sectors,” said Jose R. Soberano III, chairman and chief executive officer of CLI.

“As we expand our office footprint, we also foresee our industry players slowly transition business operations back to normalcy in the coming months as we anticipate post-pandemic recovery,” Mr. Soberano said.

The company said it engaged Leechiu Property Consultants as its leasing agent.

Latitude Corporate Center stands 24 floors high. The first two floors will host the retail component of the development. Its eighth to 12^th floors, meanwhile, are dedicated to business process outsourcing (BPO) offices and the 14^th to 16^th floors will be for executive offices.

It will offer 83 units with 35,000 square meters (sq.m.) of gross floor area. It will also lease spaces from 51 sq.m. up to 2,000 sq.m., which is said to be “ideal” for small and medium-sized enterprises as well as large-scale businesses.

The building will also have its own parking area with 247 slots.

Latitude Corporate Center features LED lighting, operable windows for natural ventilation, a rainwater collection system, provision for fresh air via “stub-outs,” and material recovery facility.

It will also have its own plaza with a tree sanctuary, a “live wall” at its main lobbies, 60% glass ration, and 20% vegetated green spaces.

The development has been awarded a four-star accreditation under the Building for Ecologically Responsive Design Excellence (BERDE) rating.

“Its schematic building design follows a unique ‘stacked building blocks’ form to mirror a minimal, elegant and timeless façade,” CLI said. It was designed by Philippine architectural firm AIDEA Philippines, Inc.

Latitude Corporate Center brought the company’s gross leasable area (GLA) to 29,000 sq.m. from 14,000 sq.m. The company also said it has over 47,000 sq.m. of office and retail GLA under construction.

CLI’s long-term strategy is to build up its a GLA to 200,000 sq.m. The property developer said it aims to have its of office, retail, and its hospitality portfolios contribute 10% of its topline in the next three to five years.

CLI shares at the stock exchange declined 2.09% or six centavos on Thursday, closing at P2.81 apiece. — Keren Concepcion G. Valmonte

Entertainment News (12/10/21)

December 10, 2021 | 12:05 am

Vinyl of Adele’s 30 available at Backspacer Records

SONY Music confirms that Backspacer Records, an independent record store based in Metro Manila, is the official distributing partner of Adele’s chart-topping LP, 30. The indie record shop, which gained popularity for being the home of limited edition and exclusive OPM releases, as well as rare and wide-ranging international titles, will be selling an exclusive Japan pressing of the album in standard black vinyl. The British singer-songwriter’s landmark LP not only broke records in terms of digital sales and streaming all over the world, but also smashed physical sales performance for both CDs and vinyl this year. “We’re grateful to Sony Music for entrusting us with this special project,” Backspacer Records co-founder Robert Tuazon said in a statement. “Tasha and I are excited to open our doors to music fans who have been wanting to get a copy of this remarkable pop release.” Adele’s 30 contains two 180-gram LPs with printed inner sleeves and standard jacket. On hand copies of the vinyl can now be purchased via Backspacer Records’ official website and its physical store located at the 2nd Floor of D’ Ace Plaza in Kapitolyo, Pasig City, Metro Manila. The record is also available through Backspacer Records’ retail partners: Plaka Planet in Makati City, Stereofiles in Quezon City, and Baihaus in Cebu City.

Sony Music releases tick,tick…BOOM! soundtrack

SONY Music Masterworks has released the official soundtrack to the acclaimed Netflix film, tick, tick… BOOM! — an album containing music from the film adaptation of Jonathan Larson’s autobiographical musical, directed by Pu-litzer Prize and Tony Award winner Lin-Manuel Miranda. The soundtrack features songs by Mr. Larson, who revolutionized musical theater as the creator of Rent, as performed by the film’s cast, which includes Andrew Gar-field, Alexandra Shipp, Robin de Jesús, Joshua Henry, Mj Rodriguez, Bradley Whitford, Tariq Trotter a.k.a. Black Thought of The Roots, with Judith Light, and Vanessa Hudgens. Rounding out the 17-track collection are four bonus numbers, including a special end credits reprise of “Come to Your Senses” featuring Jazmine Sullivan and a cover version of the previously unreleased Jonathan Larson song, “Only Takes a Few,” performed by folk band The Moun-tain Goats. The official soundtrack of tick, tick… BOOM!’ is available on all digital music platforms worldwide via Sony Music Masterworks.

24 Oras wins at Asian Academy Creative Awards

THE GMA news show 24 Oras was named as the Grand Final Winner in the Best News Program category at the 2021 Asian Academy Creative Awards (AAAs). Besting entries from 16 Asian countries and territories, GMA Network’s flagship newscast was recognized for its Special Coverage of Typhoon Ulysses (Vamco) that struck Luzon in Nov. 2020. The GMA news teams went to severely hit areas and reported on families trapped on their rooftops. The news teams served as the lifeline to authorities for many who needed rescue and other assistance. The show’s nationwide coverage provided viewers information and public service at a time when they needed it the most. The show is anchored by Mel Tiangco, Mike Enriquez, and Vicky Morales. Held annually, the AAAs recognizes the excellence of programs and personalities that represent and promote Asian content and creativity.

The Itchyworms releases 2^nd Christmas album

ROCK BAND The Itchyworms celebrates their 25^th anniversary with the second installment of their holiday-themed album, Christmas Starts When the Bers Begin. Capturing the spirit of Pinoy Christmas, the album contains two new tracks to the original Christmas album, “Halo-Halo” and “Meri Xmas 2 U.” Written and produced by drummer and lead vocalist Jazz Nicolas, “Halo-Halo” is a festive reinforcement of the classic tradition, an upbeat tune. “Meri Xmas 2 U” is a sparkly reimagining of Pinoy Christmas carols. The 2021 AWIT Awards Winner for Best Musical Arrangement plan to add more songs to the Yuletide-themed album every year. Christmas Starts When the Bers Begin is part of the band’s celebration of its 25^th year in the Philippine music industry, which follows the release of the original single “Eto Na (Ang Maliligayang Araw)” and the six-part series, Worms Upon A Time: An Itchyworms Podcast. The Itchyworms are also set to drop a mockumentary that chronicles their 25 years in the music industry at the end of the year. Christmas Starts When the Bers Begin is available on all music streaming platforms.

Sheeran, Elton collaborate on Christmas song

ED SHEERAN and Elton John ring in the festive season with their new single “Merry Christmas,” available now across all platforms. “Merry Christmas” provides the perfect dose of Christmas cheer — packed with sleigh bells, uplift-ing arrangements, and joyous harmonies, the song is topped by lyrics that add to its festive sparkle: “So kiss me under the mistletoe / Pour out the wine let’s toast and pray for December snow / I know there’s been pain this year but it’s time to let it go / Next year you never know, but for now, Merry Christmas.” During the 2021 Christmas period, Mr. Sheeran’s and Mr. John’s global record and publishing royalties from the single and profits from sales of the single will be donated equally between the Ed Sheeran Suffolk Music Foundation and The Elton John AIDS Foundation.

Clinton Kane releases new single

FILIPINO-Norwegian singer-songwriter Clinton Kane has released a new single, “Go to Hell,” a breakup song that finds him reeling from the dissolution of a romantic relationship. Speaking about the new track, Mr. Kane emphasizes that the song is completely different from anything that he has released in the past, and that it has a more alternative rock-leaning edge to it. “Go to Hell” is lifted off Clinton Kane’s forthcoming debut album, due out early next year via Columbia Records/Sony Music. The track is available on all digital music platforms worldwide.

SZA releases new single

TOP DAWG Entertainment’s multi-platinum selling artist SZA has officially dropped her new single, “I Hate U.” Initially released on an anonymous Soundcloud account this year, the track is produced by Rob Bisel, Carter Lang, thankgod4cody, and Dylan Patrice. With soulful vocals enveloping a minimalist sonic backdrop and laid-back synths, SZA reflects on a rocky romantic relationship that seemed to have taken a toll on her emotional health. “I Hate U” is out now on all digital music platforms worldwide via TDE/RCA Records/Sony Music.

GigaPlay app releases first pay-per-view film

SMART’s GigaPlay App offers its first ever pay-per-view film, Love Is Color Blind, featuring the “love team” of Donny Pangilinan and Belle Mariano. Set to be released on Dec. 10, 10 a.m., on the GigaPlay app, Love is Color Blind is the first full-length feature of the on-screen couple. They play two friends who navigate the simple joys and complexities of young love. From Dec. 10 to Jan. 10, Smart subscribers may rent the film on the GigaPlay app for P199 to watch and rewatch for 48 hours. To watch, download the GigaPlay app onto a smartphone and connect to Smart mobile data.

Netflix’s new animé Bubble

BUBBLE, a new animé feature directed by Tetsuro Araki and animated by WIT Studio — known for the hugely popular Attack on Titan animé — will premiere worldwide on April 28, 2022 on Netflix. The film takes place in an alter-nate Tokyo where the laws of gravity have been broken due to bubbles that manipulate this force of nature. It features a screenplay by Gen Urobuchi (Puella Magi Madoka Magica), character designs by Takeshi Obata (Death Note) and music by Hiroyuki Sawano (Promare). Actors lending their voices to the characters are Jun Shison, Mamoru Miyano, Yuki Kaji, and Tasuku Hatanaka. For more information, visit www.netflix.com/bubble.

Air Philippines’ franchise approval gains Senate support

December 10, 2021 | 12:04 am

AIR PHILIPPINES Corp. on Thursday received a Senate body’s full support for the approval of its franchise for another 25 years after it defended its capacity to perform and the safety of its flights amid the pandemic.

“I will recommend to my colleagues in the body the approval of your franchise,” said Senator Mary Grace Natividad S. Poe-Llamanzares, who chairs the public services committee, during a hearing. “If anything, you need all the support you can get from the government to be able to continue operations.”

The committee deliberated on House Bill 10442 or the act renewing for another 25 years the franchise granted to Air Philippines, formerly known as Airphil Express, which is under PAL Holdings, Inc.

Air Philippines President and Chief Executive Officer Bonifacio U. Sam said that throughout the pandemic, the country’s second-largest domestic carrier has been bringing thousands of overseas Filipino workers back to their home province.

The airline has also transported needed medical supplies such as personal protective equipment and vaccines to their destinations.

Currently, the company has 770 employees while supporting 1,600 jobs in related industries.

The market share of Air Philippines is about 24%, with 32 destinations from different hubs in Manila, Clark, Cebu and Davao. As for international destinations, Mr. Sam said the airline flies to secondary cities in China, Hong Kong and other regional destinations.

In 2019, about seven million passengers were accommodated by the airline to various points of the country. The pandemic reduced the carrier’s flights by 80% in passenger load from 2019 to 2020, said Civil Aeronautics Board (CAB) Chief Hearing Officer Maria Elben Sl Moro.

Nevertheless, she said that it continued to comply with CAB regulations and was previously issued a certificate of good standing.

Mr. Sam said Air Philippines had reduced its capacity by about 70% as a result of the pandemic. Even then, it hired service providers in its different stations to ensure cleaning and disinfection can be done in less than 15 minutes before the next set of passengers enter the plane.

Ms. Poe said the airlines deserved to have its franchise renewed. “We need more stakeholders in the airline industry especially now.”

Meanwhile, the senator called out the Bureau of Internal Revenue (BIR) for not providing information on whether franchise applicants have been fulfilling their responsibility with the agency, specifically if they have been diligently paying their taxes on time and in full.

She said the agency’s lack of preparation would cause delays in the evaluation of applications for the 16 telecommunications and 12 broadcast companies, aside from the airline.

“Before we give a franchise to a company, we have to make sure that they have no liabilities,” she said. “As much as possible, we would like to finish our committee reports and hopefully take them up on the floor next week.”

The Senate will adjourn for its Christmas break beginning Dec. 18 until Jan. 16 next year. — Alyssa Nicole O. Tan

Peter Dinklage leads new remake of French classic in Cyrano

December 10, 2021 | 12:04 am

Peter Dinklage in Game of Thrones (2011)

LONDON — Game of Thrones actor Peter Dinklage takes the lead role in musical drama Cyrano, a new movie adaptation of the classic French story, which had its UK premiere on Tuesday.

Adapted from a theater production written by his wife Erica Schmidt, Mr. Dinklage reprises his 2018 stage role of the swordsman with a gift for words, who struggles to declare his feelings to the woman he loves because of his perceived unattractive appearance.

The film is the latest remake of Edmond Rostand’s 1897 play Cyrano de Bergerac, in which the titular character helps newcomer Christian pen love letters to Roxanne, the object of both men’s affection.

One big change Ms. Schmidt made from the original play was getting rid of Cyrano’s large nose, which she said was her first way into the piece.

“I just thought, what if he never said what it is that he feels is unlovable about himself physically? What if it was just in whatever the audience imagined?” Ms. Schmidt said.

Mr. Dinklage said the change was one of several elements that initially attracted him to the role.

“So much of the story is about a guy who’s insecure because of the nose. And when you take the nose away, it makes it a bit more universal in terms of everybody can sort of relate to,” he said.

“I felt that it was really important to tell a story about human connection in a world where we seem to be more and more disconnected,” said director Joe Wright. “And then the pandemic happened, and we were even more disconnected. So, I felt now is definitely the time to tell this story.” Mr. Wright is known for films such as Pride & Prejudice and Atonement.

Hillbilly Elegy actor Haley Bennett plays Roxanne while The Trial of the Chicago 7 actor Kelvin Harrison, Jr. portrays Christian. — Reuters