CTA affirms ruling denying First Gen Hydro’s tax refund

August 29, 2022 | 12:03 am

THE Court of Tax Appeals (CTA) has affirmed its decision that denied First Gen Hydro Power Corp.’s claim for a refund worth P15.95 million allegedly representing its excess value-added tax (VAT) traced to zero-rated sales for the year 2016.

In a 24-page decision on Aug. 18 and made public on Aug. 26, the CTA full court denied the firm’s motion to present additional evidence since it should have presented the same during the trial.

“Its failure to present said evidence is its own negligent act, which the court will not reward by remanding the case,” according to the ruling written by CTA Associate Justice Marian Ivy F. Reyes-Fajardo.

“Every litigation must come to an end and parties cannot be given unbridled license to prove its case anew when its failure to do so was a product of its own negligence.”

The petitioner is a subsidiary of First Gen Corp., a listed company engaged in the power generation business.

First Gen Hydro argued that the tax court made an error in ruling its sales were not zero-rated and sought to present Bureau of Internal Revenue records and other pieces of evidence to support its claim.

The tribunal argued that the subject sales could not be considered zero-rated since they were made before the issuance of certificates of compliance (CoCs) by the Energy Regulatory Commission (ERC).

Under the country’s tax code, zero-rated sales are transactions made by VAT-registered taxpayers that do not result in any output tax.

Taxpayers must also comply with invoicing requirements such as submitting a CoC issued by the ERC mandated by the Electric Power Industry Reform Act of 2001.

“Petitioner (First Gen Hydro) should have argued and proved before the court in division that the foregoing determination by the commissioner of internal revenue (CIR) does not stand,” said the court.

“Petitioner not only failed to offer proof to debunk respondent’s findings, it also failed to pinpoint which of respondent’s findings were not supported by factual or legal bases.” — John Victor D. Ordoñez

Britney Spears makes musical comeback with Elton John duet

August 29, 2022 | 12:03 am

britney-elton — PHOTO FROM BRITNEYSPEARS.COM

LONDON — US singer Britney Spears made her musical comeback on Friday, releasing a duet with Elton John, in her first new material in six years and following the end of her 13-year conservatorship last year.

The 40-year old “Toxic” and “Womanizer” hitmaker has been teasing “Hold Me Closer,” a club-dance remake of John’s 1971 song “Tiny Dancer,” posting its artwork in the run-up to the release.

“Okie dokie … my first song in six years. It’s pretty damn cool that I’m singing with one of the most classic men of our time,” Ms. Spears wrote in a tweet this week.

“I’m kinda overwhelmed … it’s a big deal to me !!!”

Fans welcomed the new song, with the hashtag #WelcomeBackBritney trending on Twitter. Hours after its release, the track topped the US and UK iTunes charts.

In November, Spears, who shot to fame as a teenager with her 1998 chart-topping debut “… Baby One More Time,” was freed from a legal conservatorship that had controlled her personal life and finances for 13 years.

Her father Jamie Spears, who had sought the court-imposed arrangement in 2008, was removed as conservator in September. He has said his only goal was to help his daughter rehabilitate her career after she suffered a mental health breakdown in 2007 and that he always acted in her best interest.

In December, Ms. Spears signaled she was not yet ready to return to making music. Her last studio album was 2016’s Glory.

A press release for “Hold Me Closer,” which also has elements of Elton John’s songs “The One” and “Don’t Go Breaking My Heart,” said the two singers first met in 2014. A year later, Ms. Spears tweeted her love for “Tiny Dancer,” igniting the idea of a collaboration.

“After hearing the first cut of the single earlier this summer, Elton John knew that Britney’s instantly recognizable vocals were the perfect touch to bring the song to life,” it said.

Earlier last week, Mr. John previewed the song at a restaurant in the south of France, singing along to the delight of diners.

“I am absolutely thrilled to have had the chance to work with Britney Spears,” he said.

“She truly is an icon, one of the all-time great pop stars and she sounds amazing on this record. I love her dearly and am delighted with what we’ve created together.” — Reuters

Treasury bill rates may climb further on Fed bets

August 29, 2022 | 12:03 am

RATES of Treasury bills (T-bills) could move sideways with an upward bias this week on hawkish signals from the US Federal Reserve chief and as the government concludes its offer of retail bonds.

The Bureau of the Treasury (BTr) will offer P15 billion in T-bills on Tuesday, or P5 billion each in 91-, 182-, and 364-day securities. This will be its last T-bill auction for the month and was moved from the usual Monday schedule due to a holiday on Aug. 19 for National Heroes Day.

There was no announcement of a Treasury bond (T-bond) auction for this week on the BTr’s website amid the government’s ongoing offer of 5.5-year retail Treasury bonds (RTB). The Treasury has yet to release its September borrowing schedule.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the rates of the T-bills on offer this week will likely be slightly higher amid expectations of tepid demand as the ongoing RTB offering continues to siphon off liquidity from the market.

Mr. Ricafort said T-bill rates will continue to track secondary market yields.

Meanwhile, traders said T-bill yields could be mixed with an upward bias.

The first trader sees T-bill rates rising by 5-10 basis points (bps) as another 75-bp hike from the Fed is “not completely off the table.”

“The BTr can partially award if they think that the bids are too high,” the first trader said.

“T-bills will likely move mixed, with the rate of the 91-day T-bill moving sideways to 5 bps higher, while the 182- and 364-day T-bills will move 10-20 basis points higher. The market is seen busy book-building for the ongoing RTB offering,” the second trader said.

At the secondary market on Friday, the 91- 182- and 364-day T-bills were quoted at 2.1447%, 3.2516%, and 3.8085%, respectively, based on the PHP Bloomberg Valuation Reference Rates published on the Philippine Dealing System’s website.

Fed Chair Jerome H. Powell warned in his speech at their annual economic symposium in Jackson Hole, Wyoming on Friday that the United States will see slow economic growth and an increase in unemployment as the central bank continues to raise rates to fight rising inflation.

Mr. Powell said the Fed will raise rates as high as needed and would keep them there “for some time” to bring down inflation.

The Fed next meets to discuss policy on Sept. 20-21. It has raised rates by 225 bps so far since March, including back-to-back 75-bp hikes in June and July.

Meanwhile, the government last week raised an initial P162.72 billion from the price-setting auction for its offer of 5.5-year retail bonds as tenders reached P225.32 billion, or more than seven times the P30-billion plan.

The retail bonds fetched a coupon rate of 5.75%, higher than the 4.875% set for the five-year RTBs offered in March.

The offer period for the peso-denominated debt maturing in 2028 is from Aug. 23 to Sept. 2, while settlement is on Sept. 7.

Last week, the government partially awarded its offer of T-bills, raising P12.02 billion against the P15-billion program despite bids reaching P30.76 billion.

Following the BTr’s cancellation of its scheduled Aug. 23 auction of P35 billion in 5.5-year bonds to make way for the retail bond offer, its T-bill and T-bond borrowing program for the month is now at P180 billion, or P75 billion from T-bills and P105 billion from T-bonds.

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

World’s top central bankers deliver hawkish message at Jackson Hole

August 29, 2022 | 12:02 am

THE WORLD’S top central bankers delivered a stern and unified message on the need to curb inflation, declaring at Jackson Hole that it is broad based, here to stay and will require their forceful action.

The heads of the Bank of England, Swiss National Bank, Bank of Japan, Bank of Korea and several European Central Bank (ECB) policy makers spoke on Saturday at the Kansas City Fed’s annual retreat in the Grand Teton National Park in Wyoming.

Their statements follow remarks by Fed Chair Jerome H. Powell on Friday that sought to unequivocally commit the US central bank to raising interest rates until inflation meaningfully slows.

Policy makers in Europe and the US, battling the hottest inflation in decades, are resolutely raising rates and pushed back against suggestions they will waver if their economies falter while price pressures remain too high.

The gathering at Jackson Hole — the first in-person since the pandemic spread in 2020 — was a platform to convince investors that they would follow-through even if it caused pain.

ECB Executive Board member Isabel Schnabel, the day’s most anticipated speaker, urged her colleagues to act with determination to slow price increases that in Europe are nearing 10% and in the US are above 8%.

“Both the likelihood and the cost of current high inflation becoming entrenched in expectations are uncomfortably high,” Ms. Schnabel said. “In this environment, central banks need to act forcefully. They need to lean with determination against the risk of people starting to doubt the long-term stability of our fiat currencies.”

She also acknowledged there was a risk of recession, but told her fellow policy makers that “even if we enter a recession, we have basically little choice than to continue our normalization path” — chiming with Powell’s remarks the day before that “reducing inflation is likely to require a sustained period of below-trend growth.”

ECB officials are debating what size of interest rate increase may be appropriate at their September meeting, with some arguing that a 75-basis-point increase should at least be part of the discussion. The Governing Council in July raised rates by half a percentage point.

ECB Governing Council member Francois Villeroy de Galhau, speaking on the same panel as Ms. Schnabel, said that policy makers must be determined in tackling record inflation to avoid being forced into “unnecessarily brutal” interest-rate moves later on.

There was also a discussion about how long high inflation might persist. Swiss National Bank President Thomas Jordan said that structural factors in the economy may contribute to persistently high inflation for years to come, and that it’s becoming more broad based.

“There are signs that inflation is increasingly spreading to goods and services that are not directly affected by the pandemic or the war in Ukraine,” he cautioned.

Others made a similar point on Friday.

Gita Gopinath, first deputy managing director at the International Monetary Fund, said US inflation will persist at least for another year or two.

Agustin Carstens, head of the Bank for International Settlements, warned that the global economy risks sustained weakness if monetary policy makers don’t work with governments to revitalize the supply issues that are likely to keep pushing up inflation.

‘AIR POCKETS’
“Central banks cannot hope to smooth out all economic air pockets, and must instead focus first and foremost on keeping inflation low and stable,” Mr. Carstens said. “Monetary policy needs to meet the urgent challenge of dealing with the current inflation threat.”

Central bankers also expressed a need to communicate more clearly and simply. The sentiment was evident in Mr. Powell’s speech, which at five pages was significantly shorter than in previous years. ECB Governing Council member Joachim Nagel said policy makers sometimes overly complicate the message.

“The story is pretty clear. Inflation is much too high. And so the answer in a situation like this is also obvious. This is what central banks have to do in a situation like that. We have to raise rates,” the head of the German Bundesbank said on Saturday

“Complicated is maybe, when we will stop, or when is the time coming where we have to stop,” he said from the audience. “And I have to say, I do not really know. It’s much too early to think about, where is the, more or less, the terminal rate.”

Colleagues from Asia shared an update from their region.

Bank of Korea Governor Rhee Chang-yong — who is also fighting inflation and presided over a 25-basis-point rate increase last week — said there’s a significant chance that Korea and other Asian emerging economies will return to the low inflation and growth environment that dominated the pre-pandemic period.

On the other hand, Bank of Japan Governor Haruhiko Kuroda detailed an economic situation in his country that is very different from what Europe and the US are experiencing.

“Somewhat miraculously, now we have 2.4% inflation. But almost wholly caused by the international commodity price hike, energy and food,” Mr. Kuroda said.

Inflation will turn lower in his co-untry later this year and next, he said.“So, we have no choice other than continued monetary easing until wages and prices rise in a stable and sustainable manner.” — Bloomberg

Philippine Rallycross Series awards 2021 season victors

August 29, 2022 | 12:02 am

VELO_image3 — Group 1 champion Noli Tinio (fourth from left) is joined by Arlan Reyes (third from left) who accepted for second-placer Choy Mabunay, and third-placer JP Polintan (second from right). With them are (from left) Rikki Dy-Liacco of Automobile Association Philippines, and Ronnie Trinidad and Olson Camacho of Philippine Rallycross.

1 of 2

THE PHILIPPINE Rallycross (PHRX) Series honored the winners of the 2021 Rallycross Season during an awards night held at the Two Bott’s Resto Bar Co., in Southwoods Ecocentrum in Biñan, Laguna last August 11. The awarding ceremony took place belatedly after being postponed numerous times due to the pandemic.

The series of races was run over 12 rounds – mainly on a specially laid-out dirt track at the Clark Global City in Pampanga. While flagging off in March 2021, unexpected lockdowns and restrictions by the government’s COVID-19 Inter-Agency Task Force (IATF) for the Management of Emerging Infectious Diseases pushed the season to this year. The final round was completed last April.

PHRX organizers Olson Camacho, Ronnie Trinidad, and Eggay Quesada led the awarding ceremony which was attended by the Rallycross participants. Awards were handed out to champions of the Series from Groups 1, 2, 3, 4, Open, UV, AWD, RWD, Novice Class, and Ladies Class. Group 1 winners are (in order from first place) Noli Tinio, Choy Mabunay, and JP Polintan; Group 2 and 3 winners are Louie Camacho, Steve Acayan, and Paul Santos; Group 4 winners are Steve Acayan, Paul Santos, and Alex Gonzales; Open Class winners are Patrick Ng, Dindo de Jesus, and Mon Dimapilis; UV Class winners are Patrick Ng, Mon Dimapilis, and Allan Sarmiento; AWD Class winners are Patrick Ng, Mon Dimapilis, and Allan Sarmiento; RWD winners are Dindo de Jesus, Jun Magno, and EZ Ligaya; Ladies Class winner are Kathy Villar, Elysse Menorca, and Pauline Barrenchea.

The Novice Driver Award was given to Daniel Urian. Other special awards were handed out to participants.

The 2021 Philippine Rallycross Series was made possible by Clark Global City, Phoenix Pulse Technology, Isuzu Philippines Corporation, and was supported by Accelera Tires, Autoplus Sports, Method Race Wheels, Ironman 4×4 PH, Tyron Runflat, Armormax, Impenetra, CW Home Depot, Aguila Glass, AC Delco, Atoy Customs, Clark Development Corporation, JS Mina Audio System, Two Bott’s Resto Bar, Pradera Verde, Martin DV, Motoring Today, Autocar Philippines, and Wheels Philippines.

As harvest time looms, China tells farmers to replant or switch crops

August 29, 2022 | 12:02 am

NANCHANG, China — As China’s record heatwave starts to subside, farmers are assessing the damage caused by a prolonged drought and the government is urging them to replant or switch crops where they can.

More than 70 days of extreme temperatures and low rainfall have wreaked havoc along the basin of the Yangtze, which supports more than 450 million people as well as a third of the country’s crops.

Though rain is expected over the coming 10 days, farmers near the depleted Poyang Lake in central China’s Jiangxi province, normally a flood outlet for the Yangtze, worry that the heat has already done too much damage.

The agriculture ministry in an emergency notice this week called on farmers to harvest and store rice and take action to strengthen grain growth in coming weeks.

In areas where the drought has already inflicted heavy damage, farmers are encouraged to switch to late-autumn crops like sweet potatoes, but that is no easy task.

“We can’t switch to other crops because there’s no land,” said Hu Baolin, a 70-year-old farmer in a village on the outskirts of Nanchang, Jiangxi’s provincial capital. He said his plants, including rapeseed oil and sesame, were far less developed compared to normal years, and his pomelos were just a third of their usual size.

Nearby wells were severely depleted, and a gaggle of geese milled around a pond that had completely dried up around 10 days ago. Villagers had also been battling a brush fire nearby.

The agriculture ministry said that the hot weather posed a “serious threat” to autumn grain production and urged local governments to “do everything possible” to find more water. Drones were deployed in the worst hit province of Sichuan in China’s southwest on Thursday to seed clouds and induce rain, while other regions along the Yangtze have been mobilizing firefighters to spray parched crops, state broadcaster CCTV said.

Analysts saw rice production as the most vulnerable. “I think the biggest impact of the heatwave is going to be on the rice crop — corn also has issues but not that much,” said Ole Houe, director of advisory services at agriculture brokerage IKON Commodities in Sydney.

China, the world’s biggest rice consumer and importer, was already expected to import a record 6 million tons in 2022/23, according to estimates from the US Department of Agriculture.

Chongqing and Sichuan province in the southwest are reeling after more than two weeks of temperatures in excess of 40 Celsius — causing crop damage, forest fires and power rationing. Factories in Chongqing were originally ordered to restrict output from Aug. 17 until Aug. 24 in order to save power, but curbs have now been extended and normal operations will not resume until weather conditions improve and authorities approve restarts.

Although national forecasters reduced their heat alert level from “red” to “orange” from Tuesday, temperatures are still expected to exceed 40C in some places in Chongqing, neighboring Sichuan and other parts of the Yangtze delta until the weekend.

Low rainfall has also affected the Yangtze’s lower reaches, including Zhejiang and Jiangsu on the eastern coast. Water levels at Lake Tai, sandwiched between the two provinces, have fallen to their lowest in 20 years despite the diversion of 500 million cubic meters of Yangtze river since mid-July, the Ministry of Water Resources said on Thursday.

China’s water ministry said on Aug. 11 that the drought had already affected nearly 33 million mu (22,000 square kilometers) of arable land and 350,000 livestock, but the final impact is likely to be far bigger. — Reuters

Gokongwei family launches master brand for businesses

August 29, 2022 | 12:02 am

LANCE Y. GOKONGWEI and the new Gokongwei Group master brand logo

THE GOKONGWEI family has launched a master brand for the Gokongwei Group to represent all the companies under its diversified business portfolio, including some of the country’s largest entities.

Lance Y. Gokongwei, who heads the group, said the family name carries with it the legacy of his father — the group’s founder John L. Gokongwei, Jr., and the industrialist’s brothers Henry, Johnson, and James

“[It is] a legacy of integrity and reliability, and one which my siblings, cousins and I in the third generation have been working very hard to live up to. It is our fervent hope that this legacy will live on to succeeding generations of the Gokongwei family, so that we can continue to make lives better and … yes to make our forefathers proud,” he said.

The master brand was launched during the 30^th Anniversary event of the Gokongwei Brothers Foundation last week. It is said to embody the group’s commitment to carry on its founder’s legacy of disruptive business innovations and building businesses that improve lives and provide better choices. It also highlights the scale, culture, and integration of the Gokongwei group of companies.

“It is represented by a timeless wordmark in dark blue and green to symbolize the trustworthiness of blue and the growth of green. The tip of an arrow is incorporated in the first G to represent trajectory and forward-thinking,” the group said in a media release.

Among the companies under the umbrella brand name is JG Summit Holdings, Inc., one of the largest and most diversified Filipino conglomerates, and its subsidiaries: Universal Robina Corp.; Cebu Air, Inc., which operates Cebu Pacific; Robinsons Land Corp.; Robinsons Bank Corp.; JG Summit Olefins Corp.; Robinsons Retail Holdings, Inc.; and Summit Publishing Co., Inc. or Summit Media.

Established in 1992, the Gokongwei Brothers Foundation has for the past three decades “equipped learners with the tools they need to grow and develop as well-rounded members of the community. It has also provided the content and technology teachers and other stakeholders need to develop their skills as educators.”

The foundation has also focused on lifting educators’ professional development to meet learning needs through projects such as the TeachSTEM Scholarship program, a partnership with the University of the Philippines National Institute for Science and Mathematics Education Development for the KaSaMa Teachers Community.

Another initiative is Project Future, which is an educators’ development program developed in partnership with IDEO, a global design-thinking consultancy firm.

This year alone, the foundation’s projects have 913 scholars, learners, and educators from various programs, such as Iskolar ni Juan, GBF Nex Gen Scholarship for Excellence, GBF Gokongwei Group STEM Scholarship for Excellence, and STEM Agri Scholarship for Excellence. It has 1,841 lifetime scholars to date.

House of the Dragon renewed for second season after first episode is a hit

August 29, 2022 | 12:02 am

House of the Dragon (2022) — House of the Dragon — IMDB.COM

LONDON — House of the Dragon, the highly anticipated Game of Thrones prequel, has been renewed for a second season after its first episode proved a hit.

Based on George R.R. Martin’s Fire & Blood, the drama is set 200 years before the events that played out in Game of Thrones and focuses on how the House of Targaryen falls into civil war.

It begins with King Viserys Targaryen (Paddy Considine) deliberating who should be his next heir — his brother Prince Daemon (Matt Smith) or his daughter Princess Rhaenyra (Emma D’Arcy).

“Fire reigns. #HouseoftheDragon has been renewed for Season 2,” the official House of the Dragon Twitter account said.

The show’s premiere on Aug. 21 drew nearly 10 million viewers on television and the HBO Max streaming service, the largest audience for any new original series in the history of network, according to HBO.

In Britain, where the series airs on Sky Atlantic and streaming service NOW, the first episode also proved successful with critics and fans.

“House of the Dragon is already proving to be a ratings hit, and we predict it will go from strength to strength due to the captivating storytelling and incredible production values,” Zai Bennett, MD of Content at Sky, said in a statement.

“We look forward to sharing a second series with our customers on Sky and NOW.”

Game of Thrones first aired in 2011, becoming a global phenomenon. The award-winning HBO series wrapped up in 2019 with a finale that divided fans. — Reuters

How the Philippines’ manufacturing value stacks up vs those of its neighbors

August 29, 2022 | 12:02 am

This infographic shows the manufacturing sector’s value added as a share of the gross domestic product (GDP) of select East and Southeast Asian economies. It looks at the sector’s value added or the net output after adding up all outputs and subtracting intermediate inputs. The Philippines’ manufacturing value added as share of GDP has been gradually declining since 2000s. It reached 17.6% in 2021, a tad lower than 17.7% in 2020. The country’s manufacturing value added was also lower than East Asia and the Paciﬁc’s 24.6% share last year but a bit higher than the world’s 17%.

Style (08/29/22)

August 29, 2022 | 12:01 am

1 of 11

Adolfo Dominguez collection tackles Anthropocene

WE live in a time full of pollution, plastics, climate change, we approach the sixth extinction. Adolfo Dominguez’ Fall/Winter 2022 collection intends to be both a social denunciation and a stream of fresh air in human’s obstinate feud against nature. Human actions all over the planet are shown across the collection: rubbish-bag-inspired garments as the epitome of hyper-consumerism, patchwork print dresses based on the eucalyptus leaf, a tree that signifies monoculture and deforestation of the virgin forests, costume jewelry, or crinkle designs that highlight mining and the desertification of the lands. PET plastic bottles embody another perfect example of the Anthropocene, and plastic waste is also transformed into a bag line. Adolfo Dominguez, available at Rustans Makati and Rustans Shangri-La.

Longchamp introduces the Box-Trot bag

WHAT’s the French girl’s definition of the perfect bag? Shape: chic and structured, classic with a twist. Size: large enough for her everyday essentials, but not so big that it weighs her down. Strap: adjustable for different carry options (but preferably hands-free). Hardware: elegant and authentic, the opposite of bling. Now that perfect bag has a name: the Box-Trot by Longchamp. Box-Trot alludes both to Longchamp’s equestrian associations (it was named after the most famous racecourse in Paris) and to the style of the bag itself: a sleek, boxy shape. Crafted from smooth calfskin with a firm, round feel, the Box-Trot’s flap is signed with an intricately worked medallion in pale gold-tone metal featuring the iconic horse and rider. It comes in five colors — black, cognac, orange, lilac, and cypress — and three sizes: a medium cross-body bag with two adjustable shoulder straps for short and long carry (and anything in between); a smaller version with one adjustable shoulder strap; and a mini format with a top handle and a removable shoulder strap. These are complemented by a wallet on a long leather lace. Longchamp is exclusively available at Rustan’s Makati, Rustan’s Shangri-La, Rustan’s Cebu, Greenbelt 5 and Rustans.com.

2 homegrown Filipino brands find success on Lazada

LAZADA has been empowering local beauty and skincare brands to flourish by providing an avenue for Filipinos to easily find and buy the products they’re looking for. Two local brands who have established their presence on the platform are Clocheflame and Apotheke Science. Both were built from the ground up on Lazada. Arianne Amante, 25, established Clocheflame, a local beauty brand providing quality but affordable make-up products for the everyday Filipina. Her inspiration stemming from her college thesis highlighting Filipino’s perception of self-beauty. She opened her shop in 2020, leaving her corporate job to focus on her business full-time. They were immediately listed on LazMall, Lazada’s curated selection of leading international and local brands, establishing their credibility to consumers. To date, some of the Clocheflame’s biggest products include the All-Around Flush, branded as “tan in a tube”; the TLC Spray, a restorative facial mist; and the Dream Filter, a weightless soft-focus pressed powder. Clocheflame also recently launched its newest offering, the Lip Muse, which combines the creamy glide of a balm, the nourishing benefits of a lip oil, and the power of a lipstick. Meanwhile, Apotheke Science started with the founder formulating a salve that would help the skin of patients undergoing chemotherapy heal from the effects of radiation. The product proved to be effective for them, as well as for those who suffered from the effects of eczema, psoriasis, and dry skin. Initially distributed in a hospital, it also worked for doctors and nurses whose skin was damaged from stress and lack of sleep. The salve would eventually be known as the Apotheke Skin Doctor balm, now sought for its anti-aging effects. Following its success, the founders decided to develop more products to serve the wider population in need of effective but affordable skincare solutions. Check out Clocheflame, Apotheke Science, and other brands by visiting Lazada’s website https://www.lazada.com.ph/ and social media pages: https://www.facebook.com/LazadaPhilippines and https://www.instagram.com/LazadaPH/ .

Adidas unveils the new 4DFWD running shoe

INTERNATIONAL shoe brand adidas has unveiled its most advanced running shoe, the 4DFWD. It is designed to move runners in one direction only: forward. It features the industry-first bowtie-shaped lattice midsole which transforms vertical pressure into a horizontal force, providing runners with a non-stop smooth forward transition. To create the shoe, adidas evaluated over five million variations of the lattice structure and combined 18 years of real-world athlete performance data to identify a design that would change the game for runners around the world. It collaborated with its global innovation partner — Carbon’s Digital Light Synthesis — to create a precisely fine-tuned midsole which offers a scientifically proven forward motion benefit. Anette Pekol Hosoi, Neil and Jane Pappalardo Professor of Mechanical Engineering at the Massachusetts Institute of Technology, said: “When humans run, our forward motion is interrupted every time our foot hits the ground leading to a subtle stop-start motion between strides. This is true for all runners — no matter your ability. At the MIT Sports Lab, we are developing innovative technologies that offer a direct solution for overcoming that intrinsic challenge. And the new 4DFWD does just that.” The new 4DFWD features: a new Continental outsole which provides extra grip in any weather condition; an all-new Primeknit+ and engineered mesh upper construction has been introduced for an extra-supportive and snug fit; the 4DFWD midsole which delivers 23% more cushioning than previous 4D midsole generations. The shoe launches in a number of colorways including a Carbon Cloud White, and Impact Orange iteration for men, and Grey Five, and Cloud White colorway for women. The shoe is priced at P12,000 and will be available to buy from Sept. 1. To find out more, visit: www.adidas.com/4dfwd-running.

Mochi-mochi skin via Hada Labo Shirojyun

JAPAN’s No. 1 face lotion brand, Hada Labo, focuses on giving tired, lackluster skin that crystal bright, hydrated glow which some call mochi-mochi with its Shirojyun Premium Whitening Lotion. This product has a unique formula that combines the hydrating power of hyaluronic acid with brightening ingredients, so it doesn’t only keep the skin hydrated and bouncy, but it also addresses freckles and skin pigmentation, helps rebalance skin tone, and restores skin radiance. This face lotion contains two types of hyaluronic acid that form a layer of barrier on the skin’s surface to prevent moisture loss and enhance the absorption of other skincare ingredients, all while penetrating deeply into the skin to provide moisture into the inner skin layers. It is infused with Vitamins C and E that are known for soothing and relieving discomfort after sun exposure. Vitamin C is a popular skin brightening ingredient that is known for fading dark spots, reducing redness and dullness, and evening out the skin tone. Vitamin E, meanwhile, can help protect skin from discoloration. It’s also linked to minimizing the appearance of scars, fine lines, and wrinkles. The face lotion, suitable for normal as well as for oily and combination skin, should be patted on to the skin twice a day after cleansing. For more beauty and skincare tips, visit hadalabo.com.ph and follow @HadaLaboPH on Facebook and Instagram.

Gap holds denim recycling drive

INSPIRED by the Gap for Good initiatives, Gap Philippines once again mounts its Recycle Your Blues campaign which is ongoing until Aug. 31 at the following Gap stores: Alabang Town Center, Glorietta 4, Shangri-la Mall, SM Mall of Asia, SM Megamall, Trinoma, and Abreeza in Davao. Donate old denim jeans at any Gap store and get 40% off on regular-priced jeans. One pair of denim jeans donated will entitle the customer to one 40% off voucher valid on one pair of denim jeans. Any pair of jeans will be accepted as long as it is sanitized and reusable. In 2019, 755 pairs of jeans were collected in just three days, all given to children in shelters and impoverished communities. This year, Gap is partnering with Goodwill Philippines, Inc., a non-profit civic organization committed to the rehabilitation of persons with disabilities and the disadvantaged through skill empowerment. Livelihood programs have been in place for years, most notably their upcycling program on donated old fabrics from donors around the metro.

HABI focuses on abaca with weavers tilt

WITH the continued success of its Lourdes Montinola Piña Weaving Competition, HABI Philippine Textile Council is training the spotlight, through a new contest, on a textile material that’s deeply rooted in Filipino culture and history: abaca. For the first time, as part of its Likhang HABI Market Fair in October, HABI is introducing the Eloisa Hizon Gomez Abaca Competition, which is open to all local abaca weavers raring to showcase their artistry using this fiber. The competition is inspired by its namesake, who actively encouraged the use of Filipino textiles, and is mother to popular haute couture 1970s fashion designer Gang Gomez, now known as Dom Martin Gomez, OSB. As the main man behind this competition, Gomez says the main goal of the event is to revive and encourage the weaving of abaca cloth, as practiced in Mindanao among the T’boli and other indigenous groups, the Visayas, and the Bicol region where the plant grows well. “There is nothing like competition to stimulate our artisans’ creativity to strengthen and grow that industry,“ said Adelaida Lim, HABI president, in a statement. To join the Eloisa Hizon Gomez Abaca Competition, participants must submit a panel measuring at least six meters long. There are no restrictions on the width; however, entries must be made of 100% abaca and be based on a traditional pattern and/or weaving technique. Each entry must also have a title, a detailed description, and a photograph showing the weaver working on his/her entry. Entries must be packed with care and submitted to the HABI Office at 962 May Street, Mandaluyong City, Metro Manila. Deadline for submission is on Sept. 30. Three winners will be announced at the Likhang HABI Market Fair slated Oct. 14-16 this year. They will each receive a prize of P50,000. The entries will be exhibited as part of the fair and sold, should the contestants agree. These pieces will be displayed alongside entries of the Lourdes Montinola Piña Weaving Competition, making them officially part of a HABI Market Fair annual tradition. As with its piña weaving competition, HABI hopes to inspire mainstream fashion retailers, through this abaca weaving contest, to patronize abaca just as they do the piña cloth, in order to keep alive local textile creations and the use of natural fibers. Interested parties may call HABI at 0921-849-6974 or send an e-mail to support@habiphilippinetextilecouncil.com for more information.

Phoenix to offer home car care services through MyCasa

August 29, 2022 | 12:01 am

VELO_image5 — Signing the partnership agreement of Phoenix Petroleum Philippines, Inc. and MyCasa are (from left): Phoenix Business Development Manager Berditho Bagano, MyCasa President Arby Andaya, Phoenix President Henry Albert Fadullon, and Phoenix AVP for Consumer Business Partnerships Jay Mujar.

PHOENIX PETROLEUM, through its car care business Autoworx Plus, recently partnered with home service vehicle maintenance brand MyCasa to offer “upgraded automotive services” for both B2C and B2B customers.

Said Phoenix President Henry Albert Fadullon, “As our way of becoming a more reliable partner to our customers, we are pleased to announce our recent partnership with MyCasa, the pioneer and leading organization that specializes in home service vehicle maintenance.”

Under the partnership agreement, MyCasa will provide home service car care to customers in Metro Manila. These will be serviced by Phoenix Autoworx Plus sites in Timog Avenue in Quezon City, Multinational Avenue in Parañaque, and a soon-to-rise shop in Pasig.

“Our team strives to be creative in complementing our Autoworx Plus offerings by bringing car care services closer to motorists for PMS (preventive maintenance system) and some minor repairs. Integrating the expertise of MyCasa in home service car care with Autoworx Plus will give us leverage in tapping new businesses and markets, allowing us to serve more customers,” stated Phoenix AVP for Consumer Business Partnerships Jay Mujar in a release.

Autoworx Plus is Phoenix Petroleum’s automotive servicing shop that provides reliable, transparent, high-quality, and quick car care and repair through the use of genuine parts and accessories, and quality lubricants with services performed by professional and highly trained technicians. Meanwhile, MyCasa provides professional vehicle maintenance where the customers are.

“We love cars, and we love helping people who depend on vehicles to get to where they want to be. With this partnership with Phoenix and its network of touchpoints, we get to expand our business and serve more people with their car care needs,” averred MyCasa President Arby Andaya.

People facing acute food insecurity reach 345 million worldwide — WFP

August 29, 2022 | 12:01 am

BAGHDAD — The number of people facing acute food insecurity worldwide has more than doubled to 345 million since 2019 due to the COVID-19 pandemic, conflict and climate change, the World Food Programme (WFP) said.

Before the coronavirus crisis, 135 million suffered from acute hunger worldwide, Corinne Fleischer, the WFP’s regional director, told Reuters.

The numbers have climbed since and are expected to soar further because of climate change and conflict. The impact of environmental challenges is another destabilizing factor that can drive food scarcity and lead to conflict and mass migration happening.

“The world just can’t afford this,” Ms. Fleischer said. “We see now 10 times more displacement worldwide because of climate change and conflict and of course they are inter-linked. So we are really worried about the compounding effect of COVID, climate change and the war in Ukraine,” she said.

In the Middle East and North Africa, the impact of the Ukraine crisis has had massive repercussions, Ms. Fleischer said, underlining both the import dependency of the region and its proximity to the Black Sea.

“Yemen imports 90% of its food needs. And they took about 30% from the Black Sea,” Ms. Fleischer said.

The WFP supports 13 million of the 16 million people who are in need of food assistance, but that their assistance only covers half a person’s daily needs because of a lack of funds. Costs had gone up 45% on average since COVID and Western donors have faced massive economic challenges with the war in Ukraine.

For oil exporting countries such as Iraq that benefited from the surge in oil prices following the outbreak of the war in Ukraine, food security is at risk. Iraq needs about 5.2 million tons of wheat but only produced 2.3 million tons, she said. The rest had to be imported, which costs more.

Despite state support, severe drought and recurring water crises are endangering the livelihood of smallholders all over Iraq, she said. — Reuters