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Get 2 years free PMS, disinfection service with new Mitsubishi Mirage G4

PHOTO FROM MITSUBISHI MOTORS PHILIPPINES

BUYERS of the new Mitsubishi Mirage G4 will get a free preventive maintenance service (PMS) package and interior disinfection.

“We always strive to form meaningful relationships with our customers and be mindful of their ownership journey,” said Mitsubishi Motors Philippines Corp. (MMPC) President and CEO Takeshi Hara in a release. “Meaning, we not only provide Filipinos excellent craftsmanship but also more importantly peace of mind with respect to after-sales servicing.”

He added, “Echoing our new local slogan (“Life Made Better”), we want to ensure that soon-to-be owners of the new Mirage G4 will be able to relish its sensational style and exceptional practicality without having to worry about maintenance costs.”

The company said that the new slogan celebrates the company’s connection with Filipinos for more than 50 years. “Through it, the brand reinforces its commitment to further enrich lives of Mitsubishi owners in the country, on and off the road, more so now as the country still faces threats brought about by COVID-19,” MMPC stated.

Not transferable and not convertible to cash, the promo covers the oil filter, drain plug gasket, mineral engine oil, air cleaner, cabin filter, plus labor and miscellaneous items that are under the standard 1,000-to-25,000-kilometer PMS. Claiming must be within two years from the vehicle’s release date while at the same time strictly following the recommended schedule below or else eligibility will be revoked:

Service appointments can be booked through Mitsubishi Service Connect for both Android and Apple users, for easier management of service history and schedules. The app also helps search for the nearest authorized dealership or service center whether for test drives or repairs. For more information, visit www.mitsubishi-motors.com.ph or drop by any Mitsubishi dealership.

Yields on government debt drop on auction results, policy meetings

YIELDS on government securities (GS) fell across the board last week, with players taking their cue from auction results.

GS yields, which move opposite to prices, declined by 9.41 basis points (bps) on average week on week, based on PHP Bloomberg Valuation Service Reference Rates as of Dec. 17 published on the Philippine Dealing System’s website.

At the secondary market on Friday, yields on all tenors were lower compared with their week-ago levels.

The 91-day Treasury bill (T-bill) went down by 6.42 bps to yield 1.1397%. Likewise, the 182- and 364-day papers declined by 11.81 bps and 2.35 bps to fetch 1.3324% and 1.6539%, respectively.

At the belly, yields on the two-, three-, and four-year bonds went down by 8.51 bps (2.6934%), 8.25 bps (3.2061%), and 8.24 bps (3.6538%), respectively. The rates of the five- and seven-year papers also dropped by 10.54 bps (3.9955%) and 15.94 bps (4.4249%).

At the long end of the yield curve, the yield on the 10-year notes fell by 15.66 bps to 4.8699%. Meanwhile, the rates of the 20- and 25-year bonds decreased by 7.73 bps (4.935%) and 8.11 bps (4.9249%).

“Local bond yields moved lower [last] week following another rejection by the BTr (Bureau of the Treasury) for its reissuance this month,” First Metro Asset Management, Inc. (FAMI) said in a Viber message.

“Amid the absence of supply this month and favorable US Treasuries trading heading into FOMC (Federal Open Market Committee), strong buying interest for bonds was seen [last] week,” FAMI added.

The BTr last week rejected all bids for its offer of reissued seven-year T-bonds even as tenders P52.267 billion, more than twice the P20 billion on the auction block.

Had it fully awarded its offer, the tenor’s average yield would have declined by 7.3 bps to 4.395% from the 4.468% fetched the last time the series was offered.

National Treasurer Rosalia V. de Leon said the government rejected all bids for the reissued bonds as there is room for rates to decline as inflation has eased, with the central bank also saying it would keep borrowing costs steady to support the economy.

The November headline inflation print, despite being a four-month low, was higher than the 4% median estimate in a BusinessWorld poll and the Bangko Sentral ng Pilipinas’ (BSP) 3.3%-4.1% forecast for the month. This was also the fourth straight month inflation exceed the BSP’s 2-4% target for the year.

Still, as expected, the BSP maintained benchmark rates at record lows at its final meeting for the year last week to support the economy amid the threat of the Omicron variant of the coronavirus disease 2019 (COVID-19).

Overseas, the US Federal Reserve on Wednesday said it will end its bond purchases — a key component of its quantitative easing program — by March, with officials expecting to raise rates three times next year as the US battles inflation.

“The BSP’s action to keep rates steady was widely expected…while the Fed’s faster tapering stance may have helped the profit taking during the latter part of the week along,” a bond trader said.

The bond trader said yields “will likely stay sideways” this week ahead of the holidays, although the market will be “cautious on developments regarding the Omicron variant and the damage caused by Typhoon Odette.”

“Yields will likely trade sideways as we approach the yearend due to lack of catalysts,” FAMI said.

“The uncertainties over the Omicron variant and upcoming Fed liftoff on one hand, will support demand for longer bonds and cause the yield curve to flatten,” it added. — B.T.M. Gadon

Gifts of peace and beauty

YOU can never be too beautiful or too peaceful, and this pandemic should make us crave for more than a dose of those. We’re bringing you some gift suggestions for the face and home that should make you wake up on Christmas morning refreshed in and out.

HUMAN NATURE
The natural personal care products by Human Nature, assembled as gift packs for this season, should see out naughty pores by the end of the year. Besides, with every purchase, you’ll be helping to sustain a social enterprise that gives its workers living wages and a no-firing policy during this pandemic.

Holiday Bliss (P254.50) has its familiar Sunflower Beauty Oil and Berry Bliss Healthy Lotion, and Mistletoe Glow (P269.50) has the classic combo of Sunflower Beauty Oil and bestselling Peppermint Lip Balm. Plastic bottle-free presents are also available for your eco-friendly buddies with Eco-Friendly Treats (P244.50), which include the Zesty Vanilla Delight Moisturizing Shampoo Bar and Lemon Scented Cleansing Bar. There are also the His & Hers Waterless Wonders kits (P299.50), with Zesty Vanilla Delight Moisturizing Shampoo Bar and Men’s Shampoo Bar. To start them young with sustainable living, give kid-friendly (and plastic bottle-free) Earth’s Little Helpers kits (P249.50), with Peach Mango Pop Kids Shampoo Bar and Chocolate Adventure Kids Bath Soap, or the Pure Cheer package (P264.50) with Pure and Sure Facial Wash and Feminine Wash for teens. For even younger babies, there’s the Baby’s First Noel (P384.50) with gentle Powder Love Baby Wash and Baby Lotion.

For the guys, they’ve got the Minty Gentlemen package (P179.50) with 2-in-1 Men’s Face Wash and Cool Burst Spray Sanitizer, or St. Nick’s Picks (P204.50) bath basics: 2-in-1 Men’s Face Wash and Bamboo Charcoal Cleansing Bar. You can cover other pampering needs with the Comfort & Joy package (P394.75), with the soothing Comfort Balm to shoo off body aches and tension and Eucalyptus Wellness Oil to chase holiday headaches and sniffles away. The Winter Wonderland package (P484.75) has the relaxing Lavender-Mint Scented Bar Soap and invigorating Cooling Leg & Body Cream for a spa experience wherever you are. Everybody will appreciate Happy Helping Hands (P149.50) with germ-busting Energizing Citrus Hand Soap and Citrus Burst Spray Sanitizer, Minty Floral Yule (P169.50) with Cool Burst Spray Sanitizer and Lavender-Mint scented Cleansing Bar, and Zesty Hand Besties (P214.50) with Zesty Pomelo Hand Sanitizer and Hand & Foot Salve.

More ready-to-gift Christmas bundles are available at Human Nature’s website, www.humanheartnature.com/buy. All bundles already come in festive red or minty blue Human Nature gift boxes. You can write your gift recipient’s name on each box, which all feature an encouraging message of how they have brought joy to the world.

MARKS & SPENCER
Take off the glam holiday clothes and just sit around in matching pajamas for cutesy Christmas photos. His’-and-her’s selections are available with bottoms, tops, and nightshirts in super-soft responsibly sourced cotton or cozy fleece. It comes in holiday-themed patterns such as the Santa Paws Christmas pajama set, decorated with an all-over print of animals wearing festive accessories. For a more traditional Christmas look, you can never go wrong with the timeless Checked pajama set. Made with brushed cotton, it sports a wonderfully soft and warm texture perfect for breezy mornings and cool evenings.

Sit around in those pajamas while breathing in the Marks & Spencer’s Apothecary collection of home fragrances. These come in regular-sized and mini diffusers, scented candles, room sprays, and fragrance oils. For holiday presents for loved ones or yourself, these are available in gift sets. The Calm scent features combined aromas of lavender, sweet orange, clary sage, and cedarwood. The Tranquil scent has notes of patchouli, balsam, mandarin, and sandalwood. Sleep gives what it says as it contains lavender, jasmine, vetiver, chamomile, and eucalyptus essential oils, known for their calming properties. The Restore line is made with a balanced blend of the essential oils from geranium, cedarwood, eucalyptus, and lavender. Finally, Balance is made of the combination of vetiver, geranium, black pepper, jasmine, and cinnamon leaf. Other scents are also available for candles and diffusers: Jasmine (soft rose, lily of the valley, and freesia), Vanilla (vanilla orchid, ylang-ylang, caramel), Cotton (linen, rose, freesia and seawater), and Bergamot (orange flower, sweet vanilla, and musk). For information, message the M&S Viber Community at bit.ly/MSPH-VC, visit https://marksandspencer.com.ph/ or head to @MarksandSpencerPH on Facebook and Instagram.

European supermarkets stop selling Brazil beef as ranchers accused of deforestation

REUTERS

SÃO PAULO/AMSTERDAM — Six European supermarket chains, including two owned by Dutch firm Ahold Delhaize and a Carrefour subsidiary, said they would stop selling some or all beef products from Brazil due to links with destruction of the Amazon rainforest.

The pledges ranged from supermarket chain Lidl Netherlands, which committed to stop selling all beef originating in South America starting in 2022, to more focused decisions to halt sales of certain corned beef or beef jerky products. Many of the products affected are linked to the world’s largest meat-packer, JBS SA. The boycotts are in response to an investigation by Brazilian publication Reporter Brasil that alleged JBS indirectly sourced cows from illegally deforested areas, in a scheme known as “cattle laundering.”

This occurs when cattle raised on an illegally deforested plot of land are sold to a legitimate farm before sale to a slaughterhouse, to hide its origin.

JBS told Reuters it has zero tolerance for illegal deforestation and has blocked more than 14,000 suppliers for failing to comply with its policies. The company said monitoring indirect suppliers — the ones before the final seller to the slaughterhouse — is a challenge for the entire sector, but that JBS will institute a system capable of doing so by 2025.

The Brazilian meat-packer said that Reporter Brasil’s research mentioned only five out of 77,000 direct JBS suppliers and that those suppliers met the company’s policies at the time of purchase.

Deforestation in Brazil’s Amazon, the world’s largest tropical rainforest, has soared since right-wing President Jair Bolsonaro took office in 2019 and rolled back environmental protections. He has said he aims for more farming and mining to lift the region out of poverty. Deforestation hit a 15-year high in 2021 with an area larger than the US state of Connecticut being cleared. Most of the denuded land is used for cattle ranching.

Among other commitments, Ahold Delhaize’s subsidiary Albert Heijn, the largest supermarket chain in the Netherlands, will stop sourcing beef from Brazil entirely. An Albert Heijn spokesperson told Reuters that the company currently sells only a handful of corned beef and beef jerky with Brazilian origins each week.

Auchan France will also remove beef jerky products linked to JBS from its shelves. Carrefour Belgium and Delhaize supermarkets will stop selling Jack Link’s brand beef jerky. JBS and Jack Link’s have a joint venture that produces jerky. Jack Link’s did not respond to a request for comment. — Reuters

J Sainsbury Plc’s Sainsbury’s UK will stop sourcing its store brand corned beef from Brazil, but said that 90% of its beef is already sourced from the Britain and Ireland.

MPBL: Mindoro-EOG dominates GenSan, 87-73

ALLEN LIWAG — EOG SPORTS MANAGEMENT FB PAGE

MINDORO-EOG Burlington bolstered its quarterfinal hopes with a wire-to-wire 87-73 win over GenSan at the end of its preliminary campaign in the Chooks-to-Go Maharlika Pilipinas Basketball League (MPBL) Invitational at the Mall of Asia Arena in Pasay City.

Allen Liwag led the way with 23 markers and 14 rebounds as the Tamaraws finished Pool D play with a 4-1 card, awaiting the results of the remaining matches to determine their playoff fate.

Imus (3-1) and Manila (3-1) both hold similar chances, kicking Mindoro out of the race in case of a three-way tie should they manage to take care of Rizal and Bulacan, respectively, today.

“We did our part in the elimination round. We finished on a high note but now it’s beyond our control,” said coach Britt Reroma of the Tamaraws, whose lone loss came against Imus, 77-70.

Unbeaten Basilan-Jumbo Plastic Medical Depot also beefed up its playoff bid with a 98-95 win over Laguna-Krah Asia in Pool B behind Jay Collado’s 19 points and 12 boards.

Basilan improved to 3-0 entering its crucial last match today against fellow Pool B quarterfinal hopeful Makati FSD (2-1).

Meanwhile, Bacoor escaped with a slim 87-86 win over Negros on Jess Quilatan’s game-winner to end its Pool A campaign at 2-3.

Bacoor, GenSan (1-4) and Laguna (0-4) have been eliminated.  John Bryan Ulanday

PHL shares to move sideways on typhoon impact

PHILIPPINE STAR/KRIZ JOHN ROSALES

STOCKS are seen to be in limbo in the last two weeks of the year as investors assess the impact of Typhoon Odette and the spread of the Omicron variant in the country.

The bellwether Philippine Stock Exchange index (PSEi) gained 64.40 points or 0.89% to close at 7,297.66 on Friday, while the broader all shares index went up by 15.48 points or 0.40% to 3,851.59.

Week on week, the benchmark index increased 105.49 points from its 7,192.17 finish on Dec. 10.

“The PSEi sustained its gains for most days over the past two weeks as new local coronavirus disease 2019 (COVID-19) cases at new 1.5-year low, at 200-500 levels per day recently,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort in an e-mail sent over the weekend.

The Philippines logged 291 new COVID-19 cases on Saturday, bringing the total tally of infected patients to 2,837,555, with 50,675 deaths recorded since the pandemic hit the country in March 2020.

Online brokerage 2TradeAsia.com said optimism prevailed in the local market as the Philippine central bank’s decision to keep rates steady sparked buying despite the government’s announcement on Wednesday of the first two detected cases of the new coronavirus disease 2019 variant in the country.

The Bangko Sentral ng Pilipinas (BSP) maintained its key policy rates at record lows as widely expected on Thursday to support the economy amid the threat from the Omicron variant.

The BSP kept the overnight reverse repurchase rate at 2%, as expected by all 15 economists in a BusinessWorld poll. The overnight deposit and lending rates were also retained at all-time lows of 1.5% and 2.5%, respectively.

“The year’s final weeks of trading are likely to put participation in near-limbo, per usual, with the occasional knee-jerk reactions from Typhoon Odette and Omicron variant headlines,” 2TradeAsia.com said in a market note.

Typhoon Odette, or globally known as Rai, hit the country on Dec. 16, and left the Philippine Area of Responsibility on Dec. 18, leaving 181,500 families affected and 31 confirmed deaths as of Sunday morning.

Meanwhile, the Department of Health announced on Thursday that seven out of eight close contacts of the first two reported Omicron variant cases in the country, have tested negative before they were released from isolation.

2TradeAsia.com said trading catalysts for the next weeks are election-driven consumption headwinds, vaccinations reaching critical mass, and inflation versus interest rate sensitivity.

“Range-wise, the Philippines remains in a better position. However, the sentiment could spill over here depending on how severe the Omicron cases will be and if the cost of goods continues to soar,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

Mr. Limlingan pegged the PSEi’s support at 7,120 and resistance at 7,360. Meanwhile, 2TradeAsia.com put immediate support at 7,200 and resistance at 7,400. — M.C. Lucenio

How to avoid problem employees

ELBONOMICS: Problem employees are created by problem managers.

We are an upstart business with 15 workers. Aside from doing background checks on new hires, what can we do to motivate workers and avoid having problem employees in the future? — Light Rain.

An elderly man recently fitted with a hearing aid returned to his doctor for a checkup.

“How do you like the hearing aid?” the doctor asked.

“Fine, thank you,” the old man replied.

“How does the family like it?” the doctor asked.

“Oh, I haven’t told them yet. But I’ve been enjoying the experience so much that I’ve changed my last will three times in a row,” the old man replied.

Active listening is the most important part of the communication process. It can tell you a lot about how to convey your message to workers. Imagine having an informal open-door policy, in which you receive workers anytime during office hours to discuss any matter about work and working conditions.

One day, an employee comes to discuss an important matter. As he opens up about his work challenges, you nod at every detail without maintaining eye contact, simply typing on your laptop as if to demonstrate your skill at multi-tasking.

Would this be viewed as an encouraging situation by the workers? Of course not! You haven’t walked the talk.

Body language

Problem workers are created by problem managers. You may have just created a potential problem employee with your body language. Even if you have the memory of a tape recorder, you can’t please anyone handling a meeting that way. You are likely to be perceived as an insincere manager.

“Communication in the workplace is critical,” says Raazi Imam in Forbes (2020). “Not only do you need to pay attention to what you say verbally, but it’s also important to consider the messages you’re sending to others through your body language.”

Body language can betray anyone, even one who claims to be an excellent people manager. It’s not what you’re verbally telling people but the underlying, subconscious message of what you’re communicating through your acts or omissions. This can be considered “double talk.”

Some corporations do the same thing, in various ways. It’s very easy for companies that promote respect and people-centeredness in their corporate vision, mission and value statements to be let down by the personal style of their executives.

Imam, a member of Forbes Council, writes: “You can use your body language to support or negate certain assumptions. I believe this is especially important in the workplace because perception sometimes is reality. For example, if colleagues perceive you as not adding value because your body language or tone implies you’re indifferent to your role, they might look for behaviors to support those inferences.

“Being aware of body language do’s and don’ts can help you to be seen in a more favorable light.”

Building trust

Next to having a proactive communication process with employees is generating employee trust. If your workers don’t trust you, then they would not share anything with you even if you’re constantly seeking feedback. Gaining the trust of employees is not easy. It takes long-term commitment, which means investing a considerable amount of time and energy in dealing with people.

There are many ways for management to accomplish this. One is sharing important information. Two is allowing people to participate in problem-solving and decision-making. A third way is giving them additional responsibility. Fourth is avoiding the slightest appearance of favoritism. Fifth is having realistic expectations of the workers.

A sixth approach is to avoid indecision. Seven, initiating casual conversation. Eight, being polite to all workers, regardless of their job functions. Nine, mediating internal conflict. And last — striving to show appreciation for a job well done.

Recognize the fact that you can’t be perfect all the time. At times, you can make bad decisions. If that happens, rectify them right away and apologize. That way, erroneous impressions do not last.

 


Have a chat with Rey Elbo via Facebook, LinkedIn or Twitter or send your workplace questions to elbonomics@gmail.com or via https://reyelbo.consulting

Hyundai Grand Starex is official transport of DOSTv

HYUNDAI ASIA Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, has renewed its ties with the Department of Science and Technology’s Science and Technology Information Institute (DoST-STII) with the recent turnover of two brand-new Hyundai Grand Starex vans. These will serve as the official mobility means of DOSTv, the department’s official broadcast channel.

The turnover was held last Nov. 24 at the DoST-STII Office in Bicutan, Taguig City. HARI said it signifies HARI’s continuing support of “the DoST’s roadmap for inclusive innovation, or the equitable access to new technologies, ideas, manpower, and new products and services that will make life better for a greater majority and drive Philippine competitiveness on the global stage.”

The Grand Starex units will be DOSTv’s official transport for its roster of information projects headlined by the program Siyensikat. Aired on CNN Philippines, Siyensikat is a weekly program that demonstrates how science works to solve the Filipino’s day-to-day problems, most especially in these tough pandemic times.

DoST-STII Director Richard Burgos said that the HARI tie-up is a Godsend and described the vans as the “most valuable contribution that we can immediately use” for the production of at least 13 episodes, or the equivalent of one season.

The versatile 10-seater Hyundai Grand Starex is known for its generous cargo space, comfortable leg room, swivel seats, dual sliding doors, fuel efficiency, and loads of safety features. HARI said that it has moved on from being the Filipino’s favorite family van to being a favored employee shuttle for private firms, ambulance for healthcare institutions, and a rescue and all-purpose vehicle for local government units across the country.

Said HARI Foundation, Inc. (HFI) President and education advocate Ma. Fe Perez-Agudo, “Now that learning has become more challenging for many, we laud the DoST for strengthening its presence and advocacy in the broadcast media via Siyensikat… May these (donated units) help DoST bring science to many more people in an engaging and relevant way.”

HARI (through HFI) and DoST have been partners in innovation since 2012. The first engagement was in November 2012 with the launch of the Innovation Congress (iCON), which showcased the two institutions’ shared vision for innovation in the fields of transport and mobility. In 2013, HFI and DoST launched the Hyundai New Thinkers Circuit (HNTC), a premier literacy program that aimed to foster the spirit of leadership in innovation in climate science among public high school students. HNTC has since produced four outstanding scholars who graduated with top honors in 2020-2021 from their chosen science courses — three from the University of the Philippines and one from the Ateneo de Manila University.

How PSEi member stocks performed — December 17, 2021

Here’s a quick glance at how PSEi stocks fared on Friday, December 17, 2021.


Comparison of sectoral performance in 2020

THE COUNTRY’S TOP 1,000 corporations saw their combined gross revenue decline for the first time in 2020 as the economy grappled with the effects of the coronavirus disease 2019 (COVID-19) pandemic. Read the full story.

Comparison of sectoral performance in 2020

California pig law requiring more space prompts meat-packer to halt pork sales

REUTERS

A TOP MEAT-PACKER is halting sales of some pork products in California, in the first sign of fallout from the state’s new law demanding more space on farms for the animals.

Seaboard Foods, the second-largest US pig producer and fourth-biggest pork processor, confirmed the decision on Friday in an e-mailed statement, blaming the state’s Proposition 12 rule that goes into effect on Jan. 1.

California voters approved the regulation, which advocates say will provide more humane conditions by allowing farm-raised pigs enough room to turn around. The move is a reaction to the widespread use of cages known as gestation crates that constrict the animals’ movement.

Hog producers and pork producers have largely opposed the rule, arguing that costly renovations to farms will raise meat prices, at a time when they were already soaring and contributing to the highest food inflation in years. — Bloomberg