URC aims to cut water, energy use in sustainability goals

July 19, 2022 | 12:02 am

UNIVERSAL Robina Corp. (URC) said that it is looking at reducing its energy and water usage and is promoting responsible sourcing of key ingredients for its products.

In a press release on Monday, URC said that it plans to reduce the amount of energy and water it uses in manufacturing its products by 30% against its 2020 baseline and that it is now looking for ways to responsibly source ingredients like palm oil, potatoes, and coffee beans.

The company said that it is aiming to achieve plastic neutrality through plastic waste collection, recovery, diversion initiatives, and collaborative projects that include community engagement and linking with local recyclers.

“Through efficient management of resources, and a consistent commitment to always give back, we aim to make lasting concrete changes on an institutional level, in a way that affects all operations, and demonstrates our resolve as a world-class manufacturer,” said URC President and Chief Executive Officer Irwin C. Lee.

To further achieve its aimed sustainability, URC has recently been named as regional co-chair for the Alliance to End the Plastics Waste which is a nonprofit organization that promotes solutions that reduce and avoid environmental pollution from plastic waste.

It is also an investor and strategic partner of Planet First, a purpose-led European growth investment platform dedicated to developing solutions to address sustainability challenges.

Mr. Lee said that 2021 presented a rehash of 2020’s challenges with various crises that left the global economy and the world climate feeble.

“The difference now, aside from an increased sense of urgency, is a greater amount of experience with which URC can face the odds — and we are now setting our sights on greater ambitions towards more sustainable futures,” Mr. Lee added.

URC said that it is now pivoting to make renewable energy take up a bigger share in its power use by installing solar panels at several of its facilities in the Philippines, Thailand, and Vietnam.

It is said to use manure, agricultural and food waste, and other organic materials as a renewable energy source.

The company also launched projects as part of its community support specifically in the areas of livelihood, sustainable farming, food availability, and security.

These projects include its agro-industrial group’s Kabalikat Village Hub, flour division’s Flourish Pilipinas, sugar and renewables division’s Project SALIG, and its sustainable potato program.

“In the coming years, we will continue to build upon our heritage of sustainable success through the programs and targets laid out in this sustainability report: from reducing our environmental impact all the way to achieving 100% quality and food safety certifications for our products,” Mr. Lee said.

At the stock market on Monday, shares in URC ended higher by 1.23% or P1.40 to finish at P114.80 apiece. — Justine Irish DP. Tabile

Gov’t partially awards Treasury bill offer

July 19, 2022 | 12:02 am

THE GOVERNMENT partially awarded its offer of Treasury bills (T-bills) at higher rates following the Bangko Sentral ng Pilipinas’ (BSP) surprise 75-basis-point (bp) hike last week.

The Bureau of the Treasury (BTr) raised P12.9 billion from its auction of T-bills on Monday, lower than the P15-billion program, even with bids reaching P33.52 billion or more than twice the planned amount.

Broken down, the Treasury made a full P5-billion award of 91-day securities as the tenor attracted P16.62 billion in bids. The average rate of the tenor went up by 44.7 bps to 2.323% from the 1.876% fetched at the previous auction. Accepted rates ranged from 1.850% to 2.750%.

The government also raised P5 billion as planned from the 364-day debt papers, with bids reaching P8.02 billion. The average rate of the one-year tenor climbed by 27.7 bps to 3.258% from the 2.981% seen at last week’s auction, with the yields on the awarded bids within the 3% to 3.423% band.

Meanwhile, the BTr borrowed just P2.9 billion from the 182-day debt papers out of the P5-billion program, even with total tenders reaching P8.89 billion. The tenor’s average rate went up by 17.6 bps to 3.083% from the 2.907% fetched for a full award last week, with the government accepting offers ranging from 2.99% to 3.148%.

At the secondary market prior to Monday’s auction, the 91-, 182- and 364-day T-bills were quoted at 1.9413%, 2.6167%, and 2.8709%, respectively, based on the PHP Bloomberg Valuation Reference Rates published on the Philippine Dealing System’s website.

“As expected, markets asked for higher rates following the 75 bps off-cycle hike by BSP,” National Treasurer Rosalia V. de Leon told reporters in a Viber message.

“Another 50 bps is also now being put on the table as the Fed (US Federal Reserve) turns more aggressive, with a possible full percentage point [rate hike] to be delivered during the next FOMC (Federal Open Market Committee) [meeting],” Ms. De Leon added.

Asked why the Treasury made a partial award of the six-month paper, the official said a full award would have caused the tenor’s average rate to rise to 3.32%, which would already be higher than that for the one-year T-bill.

Traders likewise said the BSP’s surprise move last week caused T-bill rates to rise on Monday.

The first trader said the auction result was “quite expected given the adjustment in policy rates.”

“We may continue to see short-term rates adjust higher,” the first trader added.

“T-bill result [was] as expected with BSP raising policy by 75 bps last Thursday. This uptick of about 50 bps in the 91-day and 27 bps in the one-year paper is in line with what we expected. Although the range of high and low is wide, we should see this narrow in the next couple of weeks,” the second trader said.

The BSP unexpectedly raised its benchmark interest rates by an all-time high 75 bps on Thursday and left the door open for further tightening amid growing risks to inflation, which already reached a near four-year high in June.

BSP Governor Felipe M. Medalla said the “significant” hike was due to signs of “sustained and broadening price pressures” as well as spillover effects from aggressive tightening in other countries, such as the United States, amid global inflation concerns.

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

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

Meanwhile, US consumer prices jumped by 9.1% annually in June, the fastest in more than 40 years, data released last week showed. This fueled bets of an even bigger hike by the Fed at its July 27-28 review following the 75-bp increase made in June.

On Tuesday, the BTr will auction off P35 billion in 10-year Treasury bonds (T-bonds) with a remaining life of nine years and 11 months.

The Treasury is looking to raise P200 billion from the domestic market in July, or P60 billion through T-bills and P140 billion via T-bonds.

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

Actress Julianne Moore to head Venice Film Festival jury

July 19, 2022 | 12:02 am

LONDON — Oscar winning actress Julianne Moore will head the main competition jury at this year’s Venice Film Festival, organizers said on Friday.

Ms. Moore will be joined in deciding this year’s winners by French director Audrey Diwan, who scooped the festival’s Golden Lion award last year for her film Happening, Iranian actress Leila Hatami, Italian director Leonardo Di Costanzo, and Nobel Prize winning author Kazuo Ishiguro.

Argentine director and screenwriter Mariano Cohn and Spanish filmmaker Rodrigo Sorogoyen will complete the international jury, which assigns the festival’s main competition awards, including the Golden Lion.

The 79^th edition of the festival, held on the lagoon city’s Lido island, will run from Aug. 31 to Sept. 10. — Reuters

Cone NBA gig as assistant to Allen in Summer League

July 19, 2022 | 12:02 am

Cone-(2) — GIN Kings head coach Tim Cone — PBA MEDIA

It’s tremendous, indescribable how great it was. I don’t have words for it.

DECORATED mentor Tim Cone could not be grateful enough for his National Basketball Association (NBA) Summer League stint for the Miami Heat with hopes of instilling the valuable learnings to his Barangay Ginebra club in the PBA — sooner or later.

Triumphant in his homecoming after missing time for the Gin Kings, the PBA’s winningest coach said the NBA gig as assistant for the Heat was a fascinating chapter in his decorated career that would only make him an even better mentor down the road.

“It’s an incredible experience being around with a staff like that daily to watch their progress and process. Watching the progression of games, it’s really fascinating to be part of it,” said Mr. Cone after his PBA return marked by Ginebra’s 100-93 win over NorthPort.

Mr. Cone, holder of 24 Philippine Basketball Association (PBA) titles, served as a deputy for Malik Allen in Miami’s Summer League team and thus missed four games for the Gin Kings in the ongoing Philippine Cup.

But while the whole different landscape of NBA game added vital pieces to Mr. Cone’s arsenal, it was the daily chat with officials and coaches led by Heat head coach Erik Spoelstra that stood out the most for him.

For Mr. Cone, it’s where he got to soak more in invaluable wisdom.

“It’s really fascinating. We have a whole crew walking so I walk with ‘Spo’ and his assistants. You got a lot of interaction and you learn a lot. Those are the special ones. It made the trip special,” he added on good friend and also Filipino-American Mr. Spoelstra.

Now, the challenge for the master guru is exactly when to apply those lessons to the Gin Kings, who are already gearing up for the playoffs with a proven and tested system under his watch with six titles and counting.

“I’ve been wrestling with this because how much (new things) do I bring to the team and how fast do I bring it in? If I bring it right away, it will disrupt us going to the playoffs. So, do I wait until afterwards? These are things I’m wrestling with now,” he noted.

Whenever that is, the 64-year-old Mr. Cone promised to give the novel NBA methods he just acquired a shot in a bid to continue improving his already established winning gene.

“I have been exposed to so many new things and I certainly like to try some of that out. It’s tremendous. It’s indescribable how great it was. I don’t have words for it,” beamed Mr. Cone. — John Bryan Ulanday

Amazon pauses work on six new US office buildings to weigh hybrid work needs

July 19, 2022 | 12:01 am

AMAZON.COM, Inc. is pausing the construction of six new office buildings in Bellevue and Nashville to reevaluate the designs to suit hybrid work, the tech giant said on Friday.

The pause and delay of construction will not affect Amazon’s hiring plans, a company spokesperson said, reiterating the firm’s proposal to create 25,000 jobs in Bellevue and another 5,000 in Nashville.

“The pandemic has significantly changed the way people work… Our offices are long-term investments and we want to make sure that we design them in a way that meets our employees’ needs in the future,” said John Schoettler, vice-president of Global Real Estate and Facilities at Amazon.

Separately, Bloomberg News reported on Friday that Facebook parent Meta Platforms META.O and Amazon have pulled back on their office expansion plans in New York City.

Meta has decided not to take an additional 300,000 square feet of space at 770 Broadway, a building near Astor Place where it is already located and Amazon has cut down the amount of space it intended to lease from JPMorgan Chase & Co. JPM.N at Hudson Yards, the report said.

“There are often a number of reasons why we wouldn’t proceed with a particular deal, including office utilization. The past few years have brought new possibilities around the ways we connect and work,” a Meta spokesperson told Reuters without confirming or denying the report.

“We remain firmly committed to New York and look forward to opening the Farley in the coming months,” the spokesperson added.

Amazon declined to comment on the report. — Reuters

Ford Philippines boosts digital presence with online reservation portal

July 19, 2022 | 12:01 am

CAR manufacturer Ford Philippines has launched an online reservation portal for its new vehicles in a bid to boost its digital presence.

The company said that its online reservation platform, which is on the Ford Philippines website, allows customers to reserve specific variants of next-generation Ford vehicles without having to visit a dealership.

“Within the online reservation platform, customers can first configure their next-generation Ford vehicle by choosing their preferred model, transmission and drivetrain, and exterior color. Once the vehicle selection process has been completed, customers will be directed to the summary page, where they can review their selection details,” Ford Philippines said in a statement on Monday.

“After this process, customers will need to create a Ford account to progress with their online reservation and receive updates. Keeping a Ford account will also help the customer track the status of the reserved vehicle,” it added.

In terms of payment, Ford Philippines said that the platform has a payment page where customers can select their preferred dealership. They can choose to either request a quote from the dealer or reserve the vehicle. A fully refundable reservation fee worth P10,000 will be charged from the customer’s PayPal, credit card, or debit card account.

Customers who finished the online reservation process will receive regular updates via mobile phone message or e-mail. The progress of the reservation can be checked via their Ford account. After this, the Ford dealer will reach out to the customer to discuss the next steps such as documentation, available payment options, and delivery date.

“Our customers have become more digital-savvy over the past years, so we want to take their car-buying experience to the next level by leveraging an online platform that they can easily access to reserve their Ford vehicles,” Ford Philippines Managing Director Michael Breen said.

“The availability of our online reservation portal is another testament to how we are enhancing the Ford ownership experience by making it easier and more convenient for our customers to purchase our vehicles,” he added.

Meanwhile, Ford Philippines announced the full lineup and pricing for the next-generation Ranger pickup truck and Everest sport utility vehicle.

“The next-generation Ford Ranger will be available in eight variants at a starting retail price of P1,198,000, while the next-generation Ford Everest starts at a retail price of P1,799,000 and in a full lineup with five variants to choose from,” Ford Philippines said. — Revin Mikhael D. Ochave

Philippines’ freedom of expression remains ‘highly restricted’

July 19, 2022 | 12:01 am

The Philippines steadied at 105th out of 161 countries in the latest edition of the Global Expression Report (GxR), which analyzed data and events in 2021. Produced by international human rights group ARTICLE 19, the index assesses how free every person is to express, communicate, and participate in a society. This includes the freedom to post online, take to the streets, investigate, and access the information needed to keep leaders accountable. It also measures whether people can do this without fear of harassment, legal repercussions, or violence. The report uses the GxR metric, which scales a country’s overall score between 0 (not free) and 100 (freest). The Philippines got an overall GxR score of 37, which meant its citizens’ freedom of expression was “highly restricted.” It was unchanged from the previous edition of the report. It was below the global and Asia-Paciﬁc region’s overall GxR scores of 50 and 42, respectively.

Marinerong Pilipino and Adalem Construction meet in crucial duel

July 19, 2022 | 12:01 am

VENGEFUL Marinerong Pilipino and streaking Adalem Construction-St. Clare collide in a crucial duel to claim solo second spot behind pace-setting Wangs Basketball @26-Letran in the PBA D-League Aspirants Cup at the Ynares Sports Arena in Pasig.

The Skippers and the Saints meet at 3 p.m., bannering a triple-header that also features Builders Warehouse-Santo Tomas against Centro Escolar University (CEU) at 11 a.m. and AMA Online versus Apex Fuel-San Sebastian at 1 p.m.

Marinero is coming off a narrow 70-64 defeat at the hands of unbeaten Letran last weekend, making it a perfect opportunity to get back on track even against fellow contender in five-time National Athletic Association of Schools, Colleges and Universities (NAASCU) champion St. Clare.

“Masakit ‘yung pagkatalo para sa amin, pero lesson sa amin yun na sa simula pa lang, hindi kami dapat magpalubog nang malaki,” said coach Yong Garcia on their first loss so far.

Jollo Go, Juan Gomez de Liaño and Kemark Cariño have been tasked to lead the Skippers’ redemption bid against the rampaging Saints, who are out to continue their winning spree.

Saints stalwarts led by NAASCU MVP Johnsherick Estrada saw limited action in an easy 84-50 win over AMA Online last week for their second straight win. — John Bryan Ulanday

BDO Pay now available to non-clients

July 19, 2022 | 12:01 am

BDO UNIBANK, Inc. has updated its BDO Pay app to give access to non-clients in a bid to support the Bangko Sentral ng Pilipinas’ (BSP) goal to increase the adoption of digital payments in the country.

“BDO Unibank has made the BDO Pay mobile app available to non-BDO clients to support the Digital Payments Transformation Roadmap of the Bangko Sentral ng Pilipinas, which aims to have 70% of Filipino adults to have formal financial accounts by 2023,” the lender said in a statement on Monday.

“The development of the BDO Pay mobile app is part of BDO’s strategic move to introduce customers to the bank’s wide-ranging products and services, and at the same time deliver a customer experience that is simple and reliable,” it added.

With the update, anyone will be able to sign up for a BDO Pay account via a smartphone and will just need a government-issued identification card.

A BDO Pay account does not require an initial deposit or maintaining balance, which BDO said makes it ideal as a starter bank account for those in rural or remote areas of the country.

The app allows clients to make transactions and manage their finances online. Users can send money to BDO and non-BDO accounts, with other services offered including request money, split bill, pay bill, and QR payments.

“Additional features will be rolled out to further promote e-wallet usage in the country,” BDO said.

The BSP wants digital payments to make up 50% of the total value and volume of transactions in the country by 2023.

BDO’s net income rose by 13% year on year to P11.7 billion in the first quarter of 2022, driven by higher loans and interest income.

The bank was the largest commercial lender in the country in asset terms with P3.5 billion as of end-March.

BDO shares closed at P121 apiece on Monday, rising by 30 centavos or 0.25%. — K.B. Ta-asan

Entertainment News (07/19/22)

July 19, 2022 | 12:01 am

1 of 7

Bootleg Beatles returning to PHL

THE TRIBUTE act The Bootleg Beatles returns to the Philippines for a series of concerts in select cities in the country in October. From “Love Me Do” to “Let It Be,” from the Cavern to the Apple rooftop, the Beatles tribute band — made up of Steve White (who plays Paul McCartney), Stephen Hill (George Harrison), Tyson Kelly (John Lennon), and Gordon Elsmore (Ringo Starr) — returns to take the audience on a whistle-stop journey through the Swinging Sixties. The concerts will be featuring a special set to commemorate the 60^th anniversary of the Please Please Me LP (“Twist and Shout,” “I Saw Her Standing There”). The Bootleg Beatles have previously performed sold out tours in the Philippines in 2016 and 2018. Presented by Concert Republic, The Bootleg Beatles Philippines 2022 Tour will be held at SMX Convention Center, Davao City, on Oct. 27; Waterfront Hotel & Casino, Cebu City, Oct. 29; and PICC, Plenary Hall, Manila, Oct. 30, shows start at 8 p.m. Ticket sales will commence on July 22 at all Ticket World and SM Ticket outlets and online.

Anne-Marie brings Dysfunctional Tour to Manila

BRITISH singer-songwriter Anne-Marie’s Dysfunctional Tour will come to Manila on Oct. 16, 2022 at the New Frontier Theater in Quezon City, Presented by Wilbros Live, tickets to the concert go on-sale on July 19 at 10 a.m. via TicketNet.com.ph and at all TicketNet outlets nationwide. Over her career to date, Anne-Marie has become a BRITs Critics Choice finalist; Nordoff Robbins Best Newcomer winner; LGBT Music Artist winner for 2021; 9 x BRIT Award nominee; an official ambassador of The Princes Trust and more.

Spotify introduces video podcasts to the PHL

SPOTIFY brings its latest podcast innovation, video podcasts, to the country. From Hannah Pangilinan to Jim Bacarro and Saab Magalona, can engage more deeply with the content they’re listening to by watching video podcasts without leaving the Spotify app. As a start, Spotify users will be able to watch and listen to the most popular podcast shows, such as Spotify Original and Exclusive podcasts including SUPERHUMAN with Wil Dasovich, Pausecast with Hannah Pangilinan, Ang Walang Kwentang Podcast, skypodcast, The Sexytime Podcast, Boiling Waters, The KoolPals, Adulting With Joyce Pring, Wake Up With Jim & Saab, Sleeping Pill with Inka, Punchline with Alex Calleja!, Lecheng Pag-ibig To!, Paano Ba ‘To, Wag Kang Lilingon, Creepsilog, Tambalan Podcast, OnlyFun with Chico and Gino, Small Talk! With Alec Cuenca, Walwal Sesh, The Eve’s Drop, and Paano Kung…, among others. Spotify users in the Philippines will soon see a lot more video podcasts on the platform as access for creators to begin publishing video podcasts to Spotify will be made accessible through Anchor, Spotify’s podcasting platform.

Clara Benin releases new single

FILIPINA singer-songwriter Clara Benin comes out with her newest single “Affable Dork,” available via OFFMUTE. The release of the track comes with a music video shot in Enchanted Kingdom. “Affable Dork” can be heard on all digital music platforms via OFFMUTE.

Calvin Harris drops new single

GRAMMY Award-winning, multi-platinum selling artist and producer Calvin Harris has released his new single “Stay With Me” featuring Justin Timberlake, Halsey and Pharrell via Columbia Records/Sony Music. “Stay With Me” follows the release of “Potion” with Dua Lipa & Young Thug and “New Money” featuring 21 Savage from Harris’ forthcoming album Funk Wav Bounces Vol. 2, out on Aug. 5.

Netflix global fan event #TUDUM returns

THE VIRTUAL event #TUDUM that garnered over 25 million views from Netflix fans in 184 countries around the world last year is returning on Sept. 24 with five global events in 24 hours: starting in Korea followed by India, then the United States and Europe, with a special preview event of the entertainment coming from Latin America, and concluding with a celebration out of Japan. It will be a day of exclusive news, never-before-seen footage, trailers, and first looks, as well as interviews with Netflix’s biggest stars and creators. The free virtual event is a celebration of Netflix fandom and will share the scoop on over 100 fan favorite shows, films, and specials from across the globe. Tudum: A Netflix Global Fan Event will be available across Netflix YouTube channels in a number of different languages. Visit Netflix’s official fan site, Tudum.com/event, for the latest news and details about the title and celebrity lineup in early September.

Philippines moves up 2 places in real estate transparency index

July 19, 2022 | 12:00 am

The Philippines went up two places to rank 42nd out of 94 countries in the 12th edition of the Global Real Estate Transparency Index (GRETI) by real estate consultancy firm Jones Lang LaSalle (JLL) and LaSalle Investment Management. The biennial index generates the composite score by 1 to 5, where 1 means a market has total real estate transparency. With a score of 2.91 out of 5 in the 2022 edition of GRETI, the Philippines was the fourth least transparent country in the Asia-Pacific region, only ahead of Vietnam (52nd overall),Macau (55th), and Sri Lanka (64th). According to the report, the country’s transparency improved as the Anti-Money Laundering Act was extended to cover real estate.

How PSEi member stocks performed — July 18, 2022

July 19, 2022 | 12:00 am

Here’s a quick glance at how PSEi stocks fared on Monday, July 18, 2022.