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Tolentino to attend SEA Games chef de mission meet next month

PHILIPPINE Olympic Committee (POC) president Abraham Tolentino will attend the chef de mission meeting in Hanoi, Vietnam next month with an intention of submitting the same number athletes — 626 — it has passed during the last deadline before the 31st Southeast Asian (SEA) Games was reset from this year to May next year.

The number, which was spread through 39 of the 40 sports calendared in the Hanoi Games, is more than half of the 1,115 the country fielded in the last edition of the biennial meet where the Filipinos ran away with the overall title after raking in 149 golds, 117 silvers and 121 bronzes.

“Although the SEA Games are just months away, we believe the hosts are doing everything for a successful hosting,” said Mr. Tolentino. “They’re prepared, because if not for the pandemic, the Games should have been done and over with this time.”

The congressman from Tagaytay City said their target of at least a podium finish in the Hanoi tilt remains the same.

“This has been prepared with the end mind of victory for our beloved country, to be able to do our best and continue to defend our title as overall champion,” said Mr. Tolentino.

Joining Mr. Tolentino in the face-to-face meeting are Philippine Sports Commission (PSC) board member and Hanoi SEA Games chef de mission Ramon Fernandez, obstacle course’s Atty. Alberto Agra and Muay Thai’s Pearl Managuelod among others.

The second Chefs de Mission and Technical Delegates Meeting are set on March 13.

The POC will also discuss this week the submission of entry by numbers to the Huangzhou 19th Asian Games, which is slated in September also next year, on or before December 31. — Joey Villar

Withering crops highlight La Niña fears for Brazil soy farmers

REUTERS

THE IMPACT of the La Niña weather pattern that’s expected to roil global food markets in coming months is already showing up in parts of Brazil, the world’s biggest soybean exporter.

In 20 years as a soybean farmer, Adriano Marco Vivian has never seen his fields so dry, with leaves burnt by excessive heat and lack of rain. La Niña can mean drought in many growing areas, including southern Brazil.

“I believe around 70% of the yield potential has been lost,” Mr. Vivian, who is based in Paraná, one of the top-producing states in the nation’s south, said in a telephone interview. “We haven’t seen widespread rains for more than 60 days,” said the farmer, who planted 700 hectares of soybeans in the state’s west. The picture is similar for all producers in the region, he said.

Parched conditions and heat led Paraná’s agriculture agency Deral to cut its estimate for output in the state by 12% on Wednesday, and more may be coming if adverse weather continues, said Marcelo Garrido, an economist at Deral. The prospect of a second straight La Niña trimming what’s otherwise expected to be a bountiful harvest is helping boost soybean prices and adding to worries over global food inflation.

Some local consultancies have already lowered Brazil’s soybean output estimate due to yield losses in the south. That’s the case for Paraná-based AgRural, which reduced its production estimate by to 144.7 million tons from 145.4 million in the previous forecast.

For now, farmers in Paraná are an exception in Brazil, where beneficial weather has allowed a good crop development in central and northern areas.

“Brazil is still expected to harvest a record crop,” Daniele Siqueira, an analyst at AgRural, said by telephone. “Paraná is the only region with consolidated losses so far.”

All eyes will remain on Brazil’s south. Rio Grande do Sul, a top-growing state at the border with Argentina, reported below-average rain during seeding, which is now almost finished. Some farms needed replanting, but yields won’t be known until next year. If good rains fell from now on, the state can still reap a good crop. 

While some isolated and weak precipitation may be seen in the south in the coming days, it won’t be enough to restore soil-moisture in time to allow soybeans to recover in Paraná, according to Celso Oliveira, a meteorologist at Climatempo in Sao Paulo. Rain should be in line with historical averages starting in the second half of January, benefiting crops in Rio Grande do Sul. But it will be too late for Paraná’s, including Mr. Vivian’s crop. — Bloomberg

Investors load up on SPNEC shares

By Abigail Marie P. Yraola, Researcher

SOLAR PHILIPPINES Nueva Ecija Corp. (SPNEC) ended up as the second most actively traded stock in the Philippine Stock Exchange (PSE) from the trading week of Dec. 20-24 following its market debut on Friday the week before.

PSE data showed a total of 1.25 billion SPNEC shares worth P1.40 billion were traded last week.

The local bourse had a half-day trading session last Friday in observance of Christmas Eve. 

The stock closed at P1.15 per share on Friday, up 15% from its initial public offering (IPO) price of P1 per share.

“Ultimately, SPNEC performed well upon listing, closing higher for several consecutive sessions. This could mean that the public debut was well-received by investors and sentiment for these smaller types of issues is relatively bullish,” said Regina Capital Development Corp. Head of Sales Luis A. Limlingan in an e-mail.

“With the increased index volatility [last] week, there could have been a rotation out of blue chips and into smaller issues like SPNEC,” he added.

Mercantile Securities Corp. Analyst Jeff Radley C. See sees this as a “pure renewable energy play.”

“In addition, we are seeing a lot of big names partnering with the company which will speed up its goal,” Mr. See said in a separate e-mail.

SPNEC is the first company to be listed in the exchange without operations. It generates solar energy from its own solar plant and sells it through bilateral contract to its consumers or to the spot market.

The company sold 2.7 billion shares in its IPO for P1 apiece. Its offer was oversubscribed, reaching a total of P5.3 billion in orders. 

Net proceeds from IPO will finance a 500-megawatt (MW) solar power plant and will be used to acquire a lot in Nueva Ecija for the project.

The Nueva Ecija project is said to be the largest among the first 1-gigawatt projects of Solar Philippines, which is targeted to be operating by 2022.

SPNEC is the first company to receive approval to list under the PSE’s Supplemental Listing and Disclosure Requirements for Renewable Energy (RE) Companies that was approved in 2011, which allows development-stage project companies to list, subject to certain requirements.

Its other projects include an operational 63-MW plant in Batangas in partnership with Korea Electric Power Corp., one in Tarlac with Razon-led Prime Infrastructure Holdings Corp. that is being expanded up to 200 MW, and two more in Batangas and Cavite with a combined capacity of 140 MW expected to be fully operational by 2022.

Last Wednesday, the company said it is preparing a 1,000-hectare land as it gears up for a joint venture with an unnamed company to expand the capacity of its solar farm beyond 500 MW.

“Traders are very bullish when it comes to renewable energy ventures as these are fundamentally sound in relation to the transition to cleaner energy in the future. The news of SPNEC’s 1000-hectare expansion likely helped buoy the stock’s share price and remain elevated relative to its IPO price,” Regina Capital’s Mr. Limlingan said. 

“Generally, more updates about its planned solar plant and possible deals in the future would attract the interest of the investing public,” he further noted.

Mr. Limlingan placed the stock’s primary support at P1.10 per share, secondary support at P1 per share, and resistance at P1.20 per share.

For Mercantile Securities’ Mr. See: “The company’s price might move sideways for now between P1.10 to P1.20.”

Shell is ‘fuel provider of choice’ for Toyota’s Batangas Vehicle Center

At the virtual contract signing of Toyota Motor Philippines Corp. (TMP) and Shell are (top) Pilipinas Shell President and CEO Cesar Romero; (second row, from left) Pilipinas Shell Vice-President and General Manager for Mobility Randy Del Valle, TMP Vice-Chairman Dr. David Go, and Pilipinas Shell Country Business Manager for Fleet Solutions Christopher Alli; (third row, from left) TMP First Vice-President for Purchasing Richard Valdez, TMP Senior Vice-President Jose Maria Atienza, and TMP First Vice-President for Corporate Affairs Atty. Rommel Gutierrez; and (bottom row) TMP First Vice-President for Vehicle Logistics Aimee Lopez. — SCREENGRAB FROM SHELL

TOYOTA MOTOR Philippines Corp. (TMP) recently selected Pilipinas Shell Petroleum Corp. (PSPC) as its fuel provider for the first fill of its new imported vehicles delivered and processed at the newly launched Batangas Vehicle Center (BVC).

In a virtual signing ceremony, PSPC President and CEO Cesar Romero expressed his appreciation for the service partnership. He also lauded TMP’s efforts in supporting the government’s efforts toward economic recovery.

“We are proud because Toyota is certainly a brand that we want to be associated with,” Mr. Romero said. “TMP is a company that shares similar values on being a strong partner for nation-building. The construction of the Batangas Vehicle Center amidst challenging times is a strong testament of TMP’s commitment to contribute to the acceleration of the country’s economic growth.”

TMP’s BVC in Batangas City has an annual capacity of 160,000 units, and helps to streamline the receiving and processing of imported vehicles. The company asserted that it will ensure vehicle quality and timely delivery to its network of over 70 Toyota dealers across the country.

Meanwhile, PSPC has facilitated the construction of a pump and tank service at BVC to assure the fuel requirement of the company for the next three years.

Averred PSPC Vice-President and General Manager for Mobility Randy Del Valle, “Global companies like Shell and Toyota play a huge role in driving sustainability in the way they operate. TMP included sustainability features in the Batangas Vehicle Center, and Shell shares this commitment to reduce carbon footprint by integrating sustainability features in our retail network.”

He continued, “We’re also shifting our gas stations to mobility stations. We don’t call ourselves a gas company anymore, and we’ll be serving the mobility needs of the Philippines.”

Joined TMP Vice-Chairman Dr. David Go, “As we are faced with the growing mobility demand, we have partnered with Shell to become the provider of quality fuel and products for all vehicles being processed at the BVC. As a major energy company in the Philippines, we trust Shell’s reliable service to support Toyota Motor Philippines.” Dr. Go also shared that Toyota’s business paradigm is shifting globally, saying that “Toyota is transforming globally from an automotive manufacturing company to a mobility company. We aim of bringing the joy and the freedom of movement to all.”

PSPC Country Business Manager for Fleet Solutions Christopher Alli underscored, “We celebrate this partnership between two resilient and responsible brands committed towards customer service, quality products, and care for the environment.”

Ravena brothers post wins with their teams in Japan B.League

THIRDY Ravena scored 11 points as the San-en NeoPhoenix grounded the Seahorses Mikawa, 88-80, to snap their 14-game losing skid in the Christmas weekend offering of the Japan B. League at the Wing Arena Kariya on Sunday.

The Filipino import added four rebounds, four assists and a steal in 20 minutes of play for the NeoPhoenix, who finally got back on the winning column after two months.

San-en, which last won against Ibaraki last Oct. 24, improved to 4-19.

Thirdy’s brother Kiefer also emerged victorious against compatriot Kobe Paras as the Shiga Lakestars sent the Niigata Albirex BB to their 20th straight loss.

Kiefer dropped eight points and 10 assists in the Lakestars’ 90-77 repeat win over the slumping Albirex BB after their 78-59 victory the other day. Shiga hiked its mark to 9-14.

Mr. Paras was benched in the loss of Niigata, which slid to the B. League cellar with a 2-21 slate.

Ray Parks’ Nagoya (16-7) and Javi Gomez de Liano’s Ibaraki (5-18) likewise scored back-to-back wins at the expense of Kyoto and Shinshu, respectively.

Mr. Parks uncorked 12 markers, five boards and four steals in Nagoya’s 87-73 win over Kyoto after its 84-53 win while Mr. De Liaño was scoreless in Ibaraki’s 84-77 win after contributing six in a 79-67 win the other day.

Matthew Aquino did not see action for Shinshu (9-14) while Dwight Ramos was limited to four points in a 95-90 loss of Toyama (8-15) against Gunma. — John Bryan Ulanday

Volatile market seen ahead of holiday break

REUTERS

TRADING is expected to be volatile on the last trading week of the year as investors may spend the holiday break planning their market strategies, while government spending may improve market sentiments.

The bellwether Philippine Stock Exchange index (PSEi) dropped by 66.19 points or 0.91% to 7,181.86 on Friday, while the broader all shares index decreased 16.19 points or 0.42% to 3,882.26.

Week on week, the 30-member PSEi went down by 115.80 points from its 7,297.66 close on Dec. 17.

“The market failed to build from last week’s strength as participants cashed in gains ahead of the holiday break,” online brokerage 2TradeAsia.com said in an e-mail sent over the weekend.

2TradeAsia.com said soft trading is expected this week as traders take their time to mull strategies for next year, adding that investors must be selective in the sectors in order to yield better results in 2022.

It also said spending might fluctuate during the election season, making soft market days such as next week useful for investors to adjust their portfolios before the market strengthens in the first quarter.

Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said in an e-mail that the latest profit taking was “partly brought about by new record high new coronavirus disease 2019 (COVID-19) cases in some European countries, partly due to the Omicron variant, which could slow down economic recovery prospects amid travel and other restrictions as a matter of prudence to prevent Omicron from spreading further.”

Last Tuesday, the World Health Organization (WHO) warned countries of a significant surge in COVID-19 cases as the Omicron variant spreads, Reuters reported.

As of Sunday, the Philippine government reported three Omicron-positive patients in the country ahead of the holidays.

Meanwhile, First Metro Investment Corp. Head of Research Cristina S. Ulang said the market might advance on infrastructure rebuilding and government spending in areas battered by Typhoon Odette.

On Saturday, the Department of Budget and Management released P1 billion in taxpayers’ fund to be given to local governments under a state of calamity.

The national disaster agency on Thursday reported an estimated P3.6-billion infrastructure and agriculture damage left by the typhoon.

“With most of next week on holiday, we may continue to have a volatile market at below average volume turnover with a window dressing going to the yearend,” Diversified Securities, Inc. Equity Trader Aniceto K. Pangan said in a text message.

RCBC’s Mr. Ricafort placed next week’s immediate major support at between 7,060 and 7,110, while the immediate resistance at 7,200-7,260 levels. — Marielle C. Lucenio

In France, politics not peace trims ‘green’ Christmas trees 

REUTERS

PARIS — The town hall in the 12th arrondissement of Paris is lit up for the festive season but the traditional Christmas tree in the public square is absent. In its place stands a tree-shaped sculpture made of recycled wood.

The municipality’s choice is in line with a trend across France and beyond to favor sustainability over tradition, and it has highlighted political divides ahead of the presidential election in April next year.

“A felled tree is generally the product of a monoculture, and monoculture is very dangerous for the soil and a tree that is chopped down is no longer present in nature to play its role in the capture of CO2,” said Guy Tabacchi, deputy mayor of the 12th arrondissement, which aims to eliminate felled Christmas trees from public places by 2026.

That could be a challenge.

Traditionalists installed a potted conifer in front of the town hall, which the local authorities removed and planted in a woodland on the edge of the city.

“A good Christmas is to have a tree, lit up, with ribbons. This is not the magic of Christmas,” said a grandmother and resident of the 12th arrondissement, who gave her name only as Annie. 

The argument has become wrapped up with the issue of national identity and has divided opinion along political lines.

“To be French is to have a Christmas tree. It is to eat foie gras. It is to vote for Miss France and it is the Tour de France because that is France,” Valérie Pécresse, candidate for the Les Republicains party, told a France 3 journalist during a TV debate.

In contrast, mayors with ecological sympathies, including in the eastern city of Strasbourg, have banished foie gras from official events.

Strasbourg municipal councillor Marc Hoffsess says hospitality can be just as French without the pâté made from the liver of ducks or geese fattened through force-feeding and judged by many as harmful to animal well-being and the environment.

“Identity can change. Do we have a conservative message where we cling to things from our history or should we carry a message that reconciles humans with what is at stake concerning the survival of our planet?” he said.

In the southwestern port city of Bordeaux, people who took exception to the 11-meter (36.09 ft) glass tree the municipality erected brought a traditional tree to the main square.

Didier Jeanjean, deputy mayor in charge of nature in Bordeaux, said the debate was healthy.

“The Eiffel Tower is today one of the most visited monuments in France but at the time, it was one of the most criticized,” he said. — Reuters

And Just Like That: How the sequel to Sex and the City is broadening the representation of 50+ women on TV

Kristin Davis, Cynthia Nixon and Sarah Jessica Parker in And Just Like That... (2021) — IMDB.COM

On the eve of release of the Sex and the City sequel, And Just Like That, I was excited. The show follows Carrie, Miranda, and Charlotte as they navigate life at 50 in a world that has changed quite a lot from that in the 2000s.

I really wanted to see how Carrie, Miranda, and Charlotte might navigate a different world after nearly 20 years. When it comes to TV narratives about older women, we, the audience, may still have hang-ups about their representation, and what we imagine their lives are supposed to be about. But in recent years those representations have evolved with shows such as Grace and Frankie — and now And Just Like That. These series give us the humor of The Golden Girls but a richer landscape of the interior lives of older women.

The age (and wealth) gap between myself and the characters in Sex and the City has not changed with And Just Like That, but I feel much closer to their age-related struggles now than I did in the late 1990s and early 2000s. I was pleasantly surprised to see that some of my earlier hopes were realized in the series.

Now there are comments on looks (to dye the grey hair or not to dye?) but they do come in a conversation about how a woman can be taken seriously no matter what she looks like. However, this is not what really gives me hope and joy about watching these seasoned Gen Xers living out loud in their 50s. There is a lot to celebrate — but for me it is Miranda’s story that resonates the most.

A lawyer at the top of her career with a loving husband and son, Miranda seemingly has the happy ending. But in And Just Like That she is setting herself down a new uncertain path. For her, her 50s are a time for rediscovery and learning as she returns to education to retrain as a human rights lawyer. There are also hints that she might start exploring her attraction beyond men. I just earned another university degree to support a change in career – and I, too, started exploring my queerness later in life.

While older women continuing to be sexual beings is not new for TV, a protracted look at how they grapple with emerging or latent queerness is breaking away from the usual tropes and a refreshing change from the focus on heterosexual middle and older age.

Carrie’s childlessness-by-choice also resonates now in a way it did not when I was engaged to a man in the early 2000s, and naively thought having a child was an inevitable part of female adulthood and marriage. Older women are often portrayed as wives and mothers. If they are childless and divorced, their stories can often be tinged with sadness or desperation.

Over the past decade, childlessness among all women has increased for numerous reasons — prioritizing careers or concerns about the state of the future and the environment being just a few. It seems fitting that more stories reflect this increasingly common reality for older women.

Now that I am in my early 40s, And Just Like That highlights for me is that awkward fumbling is not just for teenagers. As adults we never stop awkwardly moving through life because it is always changing, and so are the rules.

And Just Like That still highlights, as Sex and the City did before it, that friendships with women are relationships that deserve attention and intention. Similar to when they were younger, maybe, romantic loss presents new opportunities and adventures for older women. Instead of familiar sad depictions of lonely divorcees and widows, older women can form new, non-romantic bonds and explore unchartered areas of their potential.

We see this new hopeful take on romantic ends in the Netflix series, Grace and Frankie (2015), which is about two retired women who become unlikely friends after their husbands announce they are in love with each other. Its premiere comes 30 years after NBC’s The Golden Girls (1985), which was also about how older women’s lives endure even when their marriages don’t, or their children fly the nest.

In their 70s, Grace and Frankie are living more boldly on TV now than Blanche and the other Golden Girls were in their 50s and 60s. That’s right, the Golden Girls were the same age as the And Just Like That characters are now. Take a moment. It threw me, too since they seem so much older. More importantly, as a show that centers the friendship of two septuagenarians, Grace and Frankie represents a changing portrayal of women in this age bracket. Whereas many women this age recede into the background in supporting roles, this series shows that older women are not just relevant, but can explore the kaleidoscope of their existence through different eras and different phases.

Kadian Pow is a Lecturer in Sociology and Black Studies, Birmingham City University. She consults for Canvas 8 consumer forecast projects. She is affiliated with Canvas 8.

I had hoped this reboot would be more self-aware around the privileges of their whiteness and class positioning. I also really wanted Carrie and the girls to interact more meaningfully with women of color and younger generations. While it still has some work to do on this front it has fulfilled my hopes for how it represents 40+ women.

Both Grace and Frankie and And Just Like That remind us that women’s identities are not limited to wives, mothers or romantic interests. So, what a time to be alive. To see older female characters portrayed with depth, authenticity, humor and shades of awkwardness in the ways we are now accustomed to seeing female characters in their teens, 20s and 30s. Now, if we could just broaden, with frankness and grace, the focus on older women outside of the white, upper middle-class, heterosexual range, I would be grateful. Please and thank you.

 

Kadian Pow is a Lecturer in Sociology and Black Studies, Birmingham City University. She consults for Canvas 8 consumer forecast projects. She is affiliated with Canvas 8.

How PSEi member stocks performed — December 24, 2021

Here’s a quick glance at how PSEi stocks fared on Friday, December 24, 2021.


Consumers expected to show ‘moderation in spending’ over the next three months

Consumers expected to show ‘moderation in spending’ over the next three months

NGCP restores 85% of Vis-Min transmission lines after typhoon

PHILSTAR FILE PHOTO

THE NATIONAL Grid Corp. of the Philippines (NGCP) said it has restored 85% of the transmission lines in the Visayas and Mindanao as of Dec. 25.

The grid company had initially reported that 95 transmission lines were rendered inoperational by typhoon Odette (international name: Rai) which traversed the Visayas and Mindanao on Dec. 16. As of Saturday, 81 of the affected lines were restored.

Typhoon Odette also toppled 818 transmission poles and 12 towers.

In Mindanao, the Placer-Madrid 69 kilovolt (KV) line affecting Siargao island, parts of Surigao del Norte and Surigao del Sur, has yet to be restored. Meanwhile, in the Visayas, the NGCP said the grid is now capable of handling 100% of the typical 269 megawatt (MW) load of Panay Island; 71% or 179 MW of the Negros Island requirement; 96% or 168 MW of the Samar-Leyte requirement; 18% or 119 MW of the Cebu load; and 0% of Bohol’s.

The Department of Energy (DoE) and the National Electrification Administration (NEA) said earlier that power may not be restored to Bohol, Dinagat Islands, and Surigao del Norte, which includes the resort island of Siargao, by the end of the year.

The NGCP said in the Visayas it can now tap 1,235MW, enough to meet the region’s 728MW demand, with transmission lines in the region all connected.

This does not translate to full restoration of power to households, however, as some local distribution utilities or electric cooperatives may still be dealing with storm damage.

The National Electrification Administration (NEA) reported a damage estimae of P1.56 billion across 25 electric cooperatives as of Saturday.

This tally is expected to rise once all 74 cooperatives submit their damage reports.

NEA’s latest estimate of affected households is 3.9 million from 937 municipalities.

Some 1.56 million of these households or 72% have had their power fully restored, while 84 or 9% have partial electricity.

Meanwhile, 2.37 million households are still awaiting power restoration.

The National Power Corp. (NPC), which manages some government-run power generation assets, said its damage estimate is P24.4 million.

Some 87 power plants, three power barges, and two transmission lines are controlled by the NPC’s Small Power Utility Group, it said, affecting 274,000 households.

The DoE said it has perfomed minor restoration operations and is now addressing the major damage done to the power network. — Marielle C. Lucenio