Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 5606

Ron Howard celebrates the power of many in Thai cave rescue retelling

Popetorn Soonthornyanakij, Thira Chutikul, Colin Farrel, Joel Edgerton, and Viggo Mortensen in a scene from Thirteen Lives.

LONDON —  Four years on from the dramatic rescue of a group of 12 boys and their soccer coach from a cave in Thailand, their story has been told by Oscar-winning filmmaker Ron Howard in Thirteen Lives.

The boys, aged between 11 and 16, and their 25-year-old coach, were exploring the Tham Luang cave in northern Thailand’s Chiang Rai in June 2018 when monsoon rains flooded the tunnels and trapped them underground.

They survived nine days in a partially flooded chamber before being discovered by two British divers, but it took Thailand’s elite navy SEALs and international volunteers another eight days to bring them to safety.

Thirteen Lives recreates the 17-day ordeal inside the sprawling cave complex and above the mountain covering it where volunteers, engineers, and soldiers pumped millions of liters of water out of the cave and drilled through rocks looking for gaps to reach the boys.

“It’s stunning what was achieved. It’s not just about the heroic divers, you know, it really is an entire community and a country and a lot of countries ultimately participating and making something amazing come true,” Mr. Howard told Reuters at the film’s London premiere on Monday.

“It’s a very contemporary theme that we need to remind ourselves of, and that is how powerful we can all be internationally or on a community level when we pull together.”

The film stars American Viggo Mortensen and Ireland’s Colin Farrell as British divers Rick Stanton and John Volanthen, with Australian actor Joel Edgerton taking on the role of Harry Harris, who was brought on to help when options to save the boys were running out.

Thai actors and nonprofessionals were cast in supporting roles and many of the young boys playing the members of the Wild Boar soccer team had no previous acting experience.

Mr. Stanton and Mr. Volanthen and members of the international rescue dive team attended Monday’s event, praising Mr. Howard’s interpretation of the events.

“I think it’s good for people to know what happened. It’s not a documentary, but it’s pretty much true to life,” Mr. Stanton said.

Thirteen Lives will be released in select US and British cinemas on July 29 and launches globally on Amazon Prime Video on Aug. 5. — Reuters

Ramos on gold-grabbing spree in youth, junior weightlifting

17-year-old Zamboanga lass Rose Jean Ramos in podium finish. — ASIAN WEIGHTLIFTING FEDERATION

EXPECTATIONS were high when Rose Jean Ramos arrived in Tashkent, Uzbekistan less than a week ago for the Asian Youth and Junior Weightlifting Championships following her magnificence in the World Youth Championships in Leon, Mexico the month before.

She didn’t disappoint.

Armed with the same iron-clad grit and unflappable resolve that captured her a pair of gold medals and silver in Leon, the 17-year-old lass from Zamboanga City went on a gold-grabbing spree and hauled in four mints, one silver and a bronze in a spectacular show of force Monday night.

Ms. Ramos swept all three golds in the women’s 45-kilogram youth division (13 to 17 years old) as she reigned supreme in snatch, clean and jerk and total with impressive lifts of 70 kg, 83 kg and 153kg, respectively.

She added another gold in the older junior division (15-20) in snatch and had silver in total and bronze in clean and jerk using the same weight lifted in the youth section.

It was a feat that reinforced notions that Ms. Ramos is one of the country’s potential successors to Philippine weightlifting queen Hidilyn Diaz, who delivered the country’s breakthrough Olympic gold in the Tokyo Games last year.

It added to an already massive Philippine medal collection of six golds, two silver and three bronzes.

Two of the mints were provided for by another Zamboanga product in 15-year-old Angeline Colonia a few days back.

And expect more to come out from that powerful Philippine weightlifting gold medal machine today as Rose Jean’s elder sister, 16-year-old Rosegie, and Asian and Southeast Asian Games teenage sensation, 18-year-old Vanessa Sarno are scheduled to compete next.

“Rosegie will get some golds too I hope and Vanessa will rule her weight tomorrow (today, Manila time) hopefully for more golds,” Samahang Weightlifting ng Pilipinas president Monico Puentevella told The STAR.

“This will be a golden trip, gold for everyday. Our future is here,” he added. — Joey Villar

Topnotch friendlies in the pipeline for Asean champions

THE GRIND continues for newly-minted Asean champ Philippines as tough friendlies against topnotch opposition like Costa Rica and New Zealand are in the pipeline in its aggressive buildup for next year’s FIFA Women’s World Cup.

“There are invites from Costa Rica, which has also qualified for the World Cup, to play in Costa Rica and we’re also trying to arrange a friendly against New Zealand,” Philippine Football Federation (PFF) president Nonong Araneta said during yesterday’s PSA Forum.

The Filipinas’ international sorties are being set for the FIFA match dates of Aug. 29 to Sept. 2 and Oct. 3 to 11 just before the scheduled World Cup draw on Oct. 22.

Mr. Araneta said the goal is to also gain previous ranking points to put the Filipinas in a better position in the draw, which will be based on the countries’ rankings.

“There will be five pots in the draw and we’re in the fourth pot and we just need eight points to make the third pot. Hopefully, we can be on Pot 3 so we don’t face the heavyweights right away,” he said.

Mr. Araneta, who joined Filipinas mainstays Inna Palacios, Hali Long and Cam Rodriguez in the online forum, also bared that the PFF is looking at a possible Four-Nation Meet featuring the Philippines and fellow WWC-bound sides in either Bocaue or Clark in June 2023 just prior to the global showpiece.

The record-breaking Filipinas themselves recognized the enormous mountain to climb in the WWC as they enjoy the top view in Southeast Asia.

“As a team, we always seek to grow together. Yes, we won and we’re celebrating now but we also have to think we have a bigger goal to achieve,” said Ms. Palacios.

The veteran keeper said the win “opens the door for us to keep improving and make sure we always show up because it’s a whole different level out there.”

“As a group, we decided we won’t just go there to participate, we’re going to go there to compete. That’s a long shot but we’re confident we can do it.”

She welcomed the upcoming friendlies as part of their growing and learning process.

“We’ll be looking at playing at every FIFA window to help the team experience playing different types of football tactics around the world,” Ms. Palacios said. — Olmin Leyba

Gov’t fully awards 10-year bonds as demand soars

BW FILE PHOTO

THE GOVERNMENT fully awarded the reissued 10-year Treasury bonds (T-bonds) it auctioned off on Tuesday at a lower average rate amid robust demand, which led it to open its tap facility to offer another P20 billion in the papers.

The Bureau of the Treasury (BTr) raised P35 billion as planned from its offer of reissued 10-year securities that have a remaining life of nine years and 11 months on Tuesday. Total bids reached P123.32 billion or more than thrice the amount on the auction block.

Rates awarded ranged from 6.8% to 6.89%, bringing the average yield for the bonds on offer to 6.865%, down by 28 basis points (bps) from the 7.145% average and by 38.50 bps from the 7.25% coupon fetched for the series when it was first offered on June 21.

The average rate fetched for the tenor on Tuesday was also 5.12 bps lower than the 6.9162% quoted for the 10-year bonds at the secondary market before Tuesday’s auction, based on the PHP Bloomberg Valuation Reference Rates published on the Philippine Dealing System’s website.

To accommodate the strong demand seen for Tuesday’s offering, the Treasury opened its tap facility to raise P20 billion more via the bonds for a yield-to-maturity of 6.865%.

National Treasurer Rosalia V. de Leon said in a Viber message to reporters that the BTr made a full award of its T-bond offer on Tuesday due to the overwhelming demand seen for the papers.

“Strong demand is an understatement for the auction. [There was] appetite for the long end coming from good yield pickup, especially for retirement funds to lock in high rates,” Ms. De Leon said.

Asked if the Treasury would prefer to offer longer tenors following the strong demand seen for Tuesday’s offer, the official said the government is “inclined to always stretch maturity subject to [a] reasonable rate.”

The first trader said demand was strong amid extra liquidity in the market amid “spillovers” from the maturity of P103 billion in bonds earlier this month.

The trader said the rate quoted for the papers on Tuesday was “well within [the] expected range.”

“Also, some players are forced to extend duration due to yield pickup offered by this tenor,” the first trader added.

A second trader meanwhile said the rates seen on Tuesday were still on the low side amid the robust demand.

“Auction result was on the low side of our expected range of 6.85-7.10%. As was also seen last week, market is clearly willing to take on duration risk, with tenders 3.5x the offer (versus last week’s 1.9x). We’ve seen the F10-68 (10-year bond) go as low as 6.65% last week, only to retrace back after the BSP (Bangko Sentral ng Pilipinas) raised the policy rate by 75 bps. That recent low will now be a target that the market is eyeing,” the second trader said.

“At the average rate, 6.865%, there is enough buffer to protect it from a higher CPI (consumer price index) and another possible rate hike by Aug. 18,” the trader added.

The BTr’s previous offers of T-bonds this month were also fully awarded amid the market’s preference for higher-yielding longer tenors. On July 5, its offer of P35 billion in reissued seven-year bonds attracted P56.236 billion in tenders, while the July 12 auction of another P35 billion in reissued 10-year bonds was met with bids worth P91.961 billion. 

The high demand seen for those offers was attributed to anticipation of a hawkish move from the central bank amid mounting inflationary pressures.

The BSP last week raised benchmark interest rates by an all-time high 75 bps in an off-cycle move and left the door open for further tightening.

BSP Governor Felipe M. Medalla said the “significant” hike, done ahead of the Monetary Board’s next scheduled meeting on Aug. 18, was due to signs of “sustained and broadening price pressures” as well as spillover effects from aggressive tightening in other countries, such as the United States, amid global inflation concerns.

On Friday, Mr. Medalla said he would not rule out another interest rate increase in their policy review next month, although the need for a 50-bp hike at that meeting is “much less now” following Thursday’s surprise move.

Headline inflation was at a near four-year high of 6.1% in June, exceeding the central bank’s 2-4% target for a third straight month. This brought the first-half average to 4.4%, still below the BSP’s full-year forecast of 5%.

The BTr wants to raise P200 billion from the domestic market this month, or P60 billion via Treasury bills and P140 billion from T-bonds.

The government borrows from local and external sources to help fund a budget deficit capped at P1.65 trillion this year, equivalent to 7.6% of gross domestic product. — Diego Gabriel C. Robles

The health risks of extreme heat 

UNSPLASH
UNSPLASH

LONDON — Europe is sweltering under a record-breaking heatwave, with a number of governments issuing health emergency alerts.  

WHAT ARE THE RISKS?
Heat affects health in a number of ways.  

Heat exhaustion, which can include dizziness, headaches, shaking and thirst, can affect anyone, and is not usually serious, providing the person cools down within 30 minutes.  

The more serious version is heatstroke, when the body’s core temperature goes above 40.6 degrees Celsius. It is a medical emergency and can lead to long-term organ damage and death. Symptoms include rapid breathing, confusion or seizures, and nausea.  

WHO IS AT RISK 
Some people are more vulnerable, including young babies and older people, as well as people who have to stay active or are more exposed, such as homeless people.  

Existing conditions, including respiratory and cardiovascular diseases, as well as diabetes, can also heighten risk — and be exacerbated by heat.  

“When you see a hot day such as today, there is likely to be a spike in mortality in all of these disease groups,” said Shakoor Hajat, an environmental epidemiologist at the London School of Hygiene and Tropical Medicine.  

Globally, just under half a million deaths a year are estimated to be due to excess heat, according to a study last year in The Lancet, although data is lacking from many low-income countries. Far more die of cold, but that is forecast to change, the researchers said.  

LESS OBVIOUS RISKS
Air pollution also increases during heatwaves, the World Meteorological Association warned last week, with adverse health effects.  

Heat also can lead to low birth weight and premature birth for pregnant women and babies, a number of studies have shown.  

There are less obvious risks, too. Lawrence Wainwright, an environment lecturer at the University of Oxford, said suicide rates and mental health problems often rise during heatwaves.  

Scientists said that there was no evidence yet of any impact on coronavirus disease 2019 (COVID-19) or long COVID patients.  

TIMING MATTERS 
Experts say more deaths occur earlier in the summer, when people’s bodies have not had a chance to acclimatize.  

Location matters, too; people are at higher risk in places where they are not used to such heat, including in parts of Europe.  

However, there are limits, and people all around the world are at risk in extremely hot weather caused by climate change, particularly people who have to continue to work in physical jobs, for example.  

“In all of the places I’ve seen in the world that we have data, there’s an increase in mortality risk when people are exposed to high temperatures,” said Eunice Lo, a climate scientist at the University of Bristol, in western England.  

WHAT YOU CAN DO 
A number of European public health agencies have issued advice on keeping cool, including avoiding exertion where possible and staying hydrated.  

Heatstroke is a medical emergency and requires immediate medical attention.  

They also advise checking in on the vulnerable. In the European heatwave in 2003, when more than 20,000 people are thought to have died, many of them were older and isolated. — Reuters

GCash says app now has 1,500 partner billers nationwide

INSTAGRAM.COM/GCASHOFFICIAL

GCash, operated by Globe Fintech Innovations, Inc. (Mynt), said it has made its payment feature available to more than 1,500 partner billers nationwide, allowing customers to pay bills remotely.

“Basic utilities, such as electricity, water, cable TV, internet and telecom services, can all be paid through the app as GCash has partnered with Meralco, Meralco Kuryente Load, Maynilad, Manila Water, Globe Postpaid and other local billers across the country,” GCash said in an e-mailed statement.

The e-wallet company said its application also allows eligible users with limited cash on hand to pay bills by using GCredit, the mobile credit line of GCash.

“GCredit is only available for fully-verified users who have enough GScore,” it noted.

On security concerns, GCash said all billers are verified to be legitimate because the e-wallet company is regulated by the Philippine central bank.

“With stringent security measures in place, paying bills through GCash means users don’t have to worry about losing their hard-earned money to unverified payment agents,” it said.

GCash said users can also settle condominium bills and housing mortgages through its application.

It also processes payments for government services, including settling taxes with the Bureau of Internal Revenue and paying for real property and business taxes with select local government units.

“Aside from one-time payments, monthly contributions for SSS and Pag-IBIG Fund can also be done through Pay Bills feature,” it said. — Arjay L. Balinbin

Teatro Europa’s 3rd edition goes live nationwide

TEATRO Europa, the first European theater festival in the country, returns for its third edition in a hybrid setup.

Focusing on classic and contemporary pieces from various European Member States, the festival will now be a mix of virtual and physical performances, with the on-site shows to be held on July 23 at the Rizal Park Open-Air Auditorium.

The festival is a presentation of the European Union (EU) Delegation to the Philippines, together with EU Member States, its cultural institutes and partner Universities.  Eighteen universities nationwide (11 from Luzon, three from Visayas, and four from Mindanao) will be participating in the festival.

Presented by Teatro de Letran of Colegio de San Juan de Letran, the Irish play Philadelphia, Here I Come! by Brian Friel is the festival’s opening performance.

Virtual and physical performances will run from July 23 to Aug. 20 with re-runs from Aug. 22 to Sept. 5. This year, eight plays will be performed on-site while 10 will be staged online and seven performances live streamed in the official Facebook Page of Teatro Europa @TeatroEuropaPH.

This year, the performances are:

1. Colegio de San Juan de Letran’s Teatro de Letran with Philadelphia, Here I Come by Brian Friel of Ireland adapted into Piladelpiya, Hirrr ay Kammm!

2. Colegio San Augustin’s Kanlaon Theater Guild with The Elegance of the Molecule by Petr Zelenka of the Czech Republic.

3. Meridian International Business Arts and Technology (MINT) College’s MINTeatro with La Mandragola (The Mandrake) by Niccolò Machiavelli of Italy.

4. Mapúa University’s Mapúa Tekno Teatro with Antigone in Molenbeek by Stefan Hertmans of Belgium.

5. Xavier University – Ateneo de Cagayan’s The Xavier Stage with A Matter of Husbands by Ferenc Molnar of Hungary, adapted into Give Me Back My Husband!

6. Saint Louis University’s Tanghalang SLU with Fuente Ovejuna by Lope de Vega of Spain.

7. Mindanao State University – General Santos’ Basic Institute for Dramatic Arts with The Madman and the Nun by Stanislaw Ignacy Witkiewicz of Poland, adapted into Straitjacketed.

8. Pamantasan ng Lungsod ng Valenzuela’s PLV-BACSTAGE with A Doll’s House by Henrik Ibsen of Denmark.

9. Jose Rizal Memorial State University – Dapitan Campus’ Teyatro Dasuliman with Miss Julie by August Strindberg of Sweden.

10. Rizal Technological University’s RTU Dulaang Rizalia with Lysistrata by Aristophanes of Greece.

11. Jose Rizal University’s Teatro Rizal with The Fourposter by Jan de Hartog of the Netherlands.

12. Asian Institute of Maritime Studies’ Layag Collective with The Bus by Stanislav Stratiev of Bulgaria.

13. Pamantasan ng Lungsod ng Marikina’s Batlaya Theater Guild with The Master by Hermann Bahr of Austria.

14. Arellano University’s Teatro Arellano with The Evangelists by Alina Mungiu-Pippidi of Romania.

15. University of the East’s UE Drama Company with Cutting a Cake by Christoffer Mellgren of Finland.

16. La Salle University’s LSU Teatro Guindegan with Auto da Alma (The Soul’s Journey) by Gil Vicente of Portugal adapted into Padayon.

17. University of San Agustin – Iloilo’s USA Little Theater with Rosemarie the Cow by Andri Beyeler of Germany, adapted into Baka-Baka.

18. University of St. La Salle – Bacolod’s USLS Maskara Theater Ensemble with Waiting for Godot by Samuel Beckett of France, re-imagined into Good.

For more information and complete play schedules, visit www.facebook.com/TeatroEuropaPH.

Arellano faces a tough Benilde challenge in Finals

COLLEGE of St. Benilde Lady Blazers. — SYNERGY/GMA NETWORK, INC.

THIS year’s Season 97 NCAA volleyball MVP will not come from College of St. Benilde (CSB) nor will any of these Lady Blazers even land in the league’s top 10 scoring list.

Because the moment they entered the school gym in Taft Avenue for the team’s first day of training back in one quiet, lonely morning in April, these fantastic girls have decided to work as one collective unit with a sole, unflinching purpose of snaring the biggest award of all — the NCAA volley championship.

Equipped with this single-minded approach, CSB will have a chance to accomplish what it set out to do all along as it squares off with the biggest barrier to its dream crown in three-peat champion Arellano University (AU) today that would usher in their best-of-three title showdown at the Filoil Ecooil Centre.

“That’s our goal, to win the championship,” CSB coach Jerry Yee, who took a leave of absence at his Premier Volleyball League club Petro Gazz to focus on his college squad, yesterday told The STAR.

The Lady Blazers’ decision to forget about individual honors and just tuned in on that ultimate ambition to win it all and have a place in league history have bore fruit after they mightily swept the elimination round in nine games to seal the first ticket to the last dance.

It included a quick, merciless 25-15, 25-15, 25-14 decimation of a hapless AU side last July 9 that had a feeling of a memorial service at the Paco Arena.

The Lady Chiefs, the No. 2 seeds, survived stubborn Jose Rizal U’s upset try in a 19-25, 25-20, 27-25, 25-17 win of the final stepladder semis match Sunday to make it to the finals where they will have a shot at an amazing four-peat feat.

But when AU faces CSB in Game One at 2 p.m., it will be reminded of the stench and dreadful memory of that execution-style defeat it suffered at the hands of the latter in the elims.

AU coach Obet Javier knew how seemingly invincible CSB is and vowed to give a fiercer challenge.

“It will be like facing a wall, a tower,” said Mr. Javier. “But we will do our best to give them a worthy challenge.”

While he knew CSB will come in as a heavy favorite, Mr. Yee is wary of the potential rust from that long break — two weeks — they had.

“We’re anxious because of the long hiatus. We’re taking precautions though and try to avoid potential injuries and overtraining,” said Mr. Yee.

Thanks to CSB’s iron will though, nothing, not even that rust, could stop it from realizing its title aspiration. — Joey Villar

Tax court denies IT firm Ammex I-Support’s refund claim

THE Court of Tax Appeals (CTA) denied Ammex I-Support Corp.’s refund claim worth P626,151.31 traced to its excess unutilized input value-added tax (VAT) for the third quarter of 2015.

In a 15-page decision on July 14 and made public on July 18, the court’s special third division ruled that the petition lacked merit since the company failed to prove that it was engaged in zero-rated sales.

“Petitioner (Ammex I-Support) failed to submit in evidence the service agreement between petitioner and its clients that would establish the nature of services to be performed,” according to the ruling penned by CTA Associate Justice Maria Rowena Modesto-San Pedro.

The court added that based on the company’s records, it failed to prove that its foreign clients were not doing business in the Philippines.

A company may establish that its foreign clients are not doing business in the Philippines by submitting certificates of incorporation, memoranda of association, or any equivalent document, it added.

“In essence, petitioner’s sales to its alleged foreign clients fail to qualify for VAT zero-rating under the tax code, as amended,” it ruled.

Under the country’s revenue code, if a sale is subject to 0% value-added tax, the term “zero-rated sale” must be written or printed on the receipt.

The law also provides that “processing, manufacturing, or packing goods for other persons doing business outside the Philippines, and services other than those mentioned paid in an acceptable foreign currency” are transactions subject to a zero rating.

The private company is primarily engaged in business process outsourcing using computer-based information technology systems to service international clients.

The tribunal asserted that it was unnecessary to examine the company’s compliance with other requirements for a refund claim for to failing to qualify its sales for a zero rating.

“At this juncture, it is worthy to emphasize that tax refunds or tax credits, just like tax exemptions, are strictly construed against the taxpayers; hence, the taxpayer claimant has the burden to prove compliance with the conditions for the grant of the tax refund or credit,” said the tax court. — John Victor D. Ordoñez

Cholesterol stones can be treated non-surgically

PIXABAY

Cholesterol stones, a type of gallstone, can be treated non-surgically with oral dissolution therapy, said Dr. Val F. Neri, a gastroenterologist at San Pablo Colleges Medical Center and chief of clinics at San Pablo Doctors Hospital.  

“In oral dissolution therapy, we are reversing the process that predisposes the patient to cholesterol gallstones,” he said in a July 15 webinar organized by the University of the Philippines (UP) Manila. “If you can make the [body’s] environment less conducive to stone formation, you might be able to dissolve the stone.”  

To be eligible for this treatment, a patient should be mildly symptomatic and without complications such as sepsis or acute pancreatitis (or the sudden inflammation of the pancreas); should have a functioning gallbladder; and should have stones that are radiolucent (or relatively penetrable by X-rays) ranging 6–10 millimeters in size. 

Cholesterol gallstones, which are made of 50–100% mostly hardened cholesterol, are common in America and Europe and are associated with factors such as obesity.  

Meanwhile, black pigment gallstones, which are devoid of cholesterol, are common in Asia and are associated with factors such as hemolytic disorders. Brown pigment gallstones are made of calcium fatty acids, are also common in Asia, and are associated with factors such as inflammation.  

Oral dissolution therapy, Dr. Neri emphasized, can only be used with cholesterol gallstones. “The patient should have a cholesterol gallstone, and not a pigment [one]. It’s unfortunate that most Asians, including Filipinos, have pigment stones,” he said.   

Since gallstones develop over a long period of time, dissolving them also requires treatment from between six months to two years, he added. 

Ursodeoxycholic acid (UCDA) is the agent of choice for this treatment.   

“A caveat of this mode of therapy is that … approximately 50% will have a recurrence after five years of the [gallstones’] dissolution,” he said. “The reason is the persistence of risk factors for the formation of gallstone.”   

Non-modifiable risk factors include age (the incidence for gallstones increases as one gets older) and gender (the female hormone estrogen increases the cholesterol saturation of bile); while modifiable ones include a Western-style diet (which is high in refined carbohydrates and low in fiber) and rapid weight loss. 

Dr. Neri said only those with symptoms need to be treated. Biliary colic — pain in the upper-right part of the abdomen that occurs after a meal and lasts less than six hours — is the typical symptom.  

Surgical treatment of asymptomatic gallstones without “medically complicating” diseases is discouraged because the “risk of complication arising from interventions is higher than the risk of the symptomatic disease,” he added. — Patricia B. Mirasol 

BSP disqualifies two money service firms from securing licenses

BW FILE PHOTO

TWO MORE FIRMS have been disqualified by the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) from securing a license after they were found to be operating unregistered money service businesses (MSBs).

One of the entities disqualified was Feb Thirdy 1 Money Changer located in Pasay City, with Alberto M. Sta. Ana as a point person.

The Monetary Board also disqualified Maruel Money Changer, also located in Pasay City, with Ariel E. Narisma as the point person.

The BSP said the two entities and any sole proprietorship owned and/or controlled by the respective owners or operations will be disqualified from obtaining a license to engage in any activity supervised by the BSP.

The disqualification is in accordance with Section 901-N of the BSP’s Manual of Regulations for Non-Bank Financial Institutions. 

This “is part of the BSP’s efforts to address the proliferation of entities engaged in the operation of unauthorized MSBs,” the central bank said.

Pawnshops, along with foreign exchange dealers, money changers, and remittance agents, are considered as MSBs by the BSP.

In April, the BSP banned Vility Foreign Exchange Services located in Batangas City, and H&F Foreign Exchange Services in Dagupan City, Pangasinan.

The central bank also disqualified Business Center in Panabo City, and PAYB Bills Payment and Remittance Center in Bacoor City.

Last year, the BSP disqualified nine MSBs from registering, five of which are located in Makati City: Sam Money Changer, Tasneem Foreign Exchange (FX) Services, Zhamme FX Service, Junaidi Money Exchange Services, and Marygin FX Services.

Also banned were LM’s Money Changer, Adahn Money Changer, Mudzmar Money Changing Services, and Zhenrihada Money Changing Services.

Pawnshops and MSBs are seen by the BSP as access points for the financially unserved and underserved areas in the country. — K.B. Ta-asan

Vintana.ph opens a physical gallery

ONLINE art space Vintana.ph is opening a physical gallery.

Vintana.ph, founded in 2019 by Ram Bautista, Angela Gaddi, and Robert Flores, was “established to provide a democratic platform for the current Philippine art scene, making it more accessible and inclusive for artists and patrons alike,” a statement says. Since it opened, it has held 13 online exhibits with niche themes.

This year, the online gallery opens a physical space at The Astbury, Poblacion, Makati City.

For its inaugural show, Vintana.ph presents “The Little Big Art Show” which runs until July 27.

It features works by contemporary artists Dex Fernandez, Lourd De Veyra, Kiko Escora, Manuel Ocampo, Aba Lluch Dalena, Argie Bandoy, Kirk Dijamco, Erick Encinares, Jojo Barja, Hamilton Sulit, Jaime Pacena, Chinnich Candao, Art Tavera, Jared Yokte, and Lena Cobangbang.

The exhibit is also on view at the gallery’s website.

The physical gallery at The Astbury occupies 170 square meters. Its exteriors are reminiscent of New York City’s subway stations, with graffiti-sprayed walls and metal directional signage hanging above the entryway.

For more information, visit https://vintana.ph/. Vintana.ph is located at The Astbury, 2 Orion St., Poblacion, Brgy. Bel-Air, Makati City.

1...5,6055,6065,607...13,707Page 5,606 of 13,707
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube