Converge ICT Solutions, Inc. announced on Tuesday that the Philippine Rating Services Corp. (PhilRatings) had assigned it a PRS Aaa rating with a stable outlook for its planned maiden bond issuance worth P5 billion.
“The Converge maiden bond offering has been granted a ‘PRS Aaa rating with stable outlook’ due to its position in the fixed broadband market following its spectacular growth in recent years and its strong cash flow that provided the company flexibility in its network rollout,” Converge said in an e-mailed statement.
On its website, PhilRatings says that a company rated PRS Aaa has a “very strong” capacity to meet its financial commitments “relative to that of other Philippine corporates.”
“A PRS Aaa is the highest Corporate Credit Rating assigned on the PRS scale.”
Converge, which aims to cover 55% of Philippine households by 2023, said the funds to be generated from the proposed bond offering would be used to support its capital expenditures.
The bond issuance has up to P5-billion oversubscription option.
“We’re pleased that our prudent fiscal management, coupled with a strong operational performance, throughout the year has garnered us the highest credit grade from PhilRatings,” Converge Chief Executive Officer Dennis Anthony H. Uy said.
For her part, Converge President Maria Grace Y. Uy said: “Gaining this seal of approval from PhilRatings signals that our debt papers pose minimal credit risk.”
“Our strong liquidity and market position should give confidence to potential investors,” she added.
Converge’s attributable net income for the first nine months of the year went up by 137% to P5.20 billion from P2.19 billion in the same period in 2020.
January-to-September revenues increased by 76% to P18.83 billion from P10.68 billion last year.
Converge ICT shares closed 0.31% higher at P32 apiece on Tuesday. — Arjay L. Balinbin
GENEVA — The Omicron variant of the coronavirus is spreading faster than the Delta variant and is causing infections in people already vaccinated or who have recovered from the COVID-19 disease, the head of the World Health Organization (WHO) said on Monday.
WHO chief scientist Soumya Swaminathan added it would be “unwise” to conclude from early evidence that Omicron was a milder variant than previous ones. “… With the numbers going up, all health systems are going to be under strain,” she told Geneva-based journalists.
The variant is successfully evading some immune responses, she said, meaning that the booster programs being rolled out in many countries ought to be targeted towards people with weaker immune systems.
“There is now consistent evidence that Omicron is spreading significantly faster than the Delta variant,” WHO Director-General Tedros Adhanom Ghebreyesus told the briefing.
“And it is more likely people vaccinated or recovered from COVID-19 could be infected or re-infected,” Dr. Tedros said.
Their comments echoed the finding of a study by Imperial College London, which said last week the risk of reinfection was more than five times higher and it has shown no sign of being milder than Delta.
WHO officials said however that other forms of immunity vaccinations may prevent infection and disease.
While the antibody defenses from some actions have been undermined, there has been hope that T-cells, the second pillar of an immune response, can prevent severe disease by attacking infected human cells.
WHO expert Abdi Mahamud added: “Although we are seeing a reduction in the neutralization antibodies, almost all preliminary analysis shows T-cell mediated immunity remains intact, that is what we really require.”
However, highlighting how little is known about how to handle the new variant that was only detected last month, Dr. Swaminathan also said: “Of course there is a challenge, many of the monoclonals will not work with Omicron.”
She gave no details as she referred to the treatments that mimic natural antibodies in fighting off infections. Some drug makers have suggested the same.
ENDING THE PANDEMIC
In the short term, Dr. Tedros said that holiday festivities would in many places lead to “increased cases, overwhelmed health systems and more deaths” and urged people to postpone gatherings.
“An event canceled is better than a life canceled,” he said.
But the WHO team also offered some hope to a weary world facing the new wave that 2022 would be the year that the pandemic, which already killed more than 5.6 million people worldwide, would end.
It pointed towards the development of second and third generation vaccines, and the further development of antimicrobial treatments and other innovations.
“[We] hope to consign this disease to a relatively mild disease that is easily prevented, that is easily treated,” Mike Ryan, the WHO’s top emergency expert, told the briefing.
“If we can keep virus transmission to minimum, then we can bring the pandemic to an end.”
However, Dr. Tedros also said China, where the SARS-CoV-2 coronavirus was first detected at the end of 2019, must be forthcoming with data and information related to its origin to help the response going forward.
“We need to continue until we know the origins, we need to push harder because we should learn from what happened this time in order to [do] better in the future,” he said. — Reuters
SEVEN government agencies signed an agreement on Tuesday signifying their intent to reduce the steps and processing time for obtaining construction-related permits.
“The new policy reduces the steps in securing construction-related permits from four to three steps and the processing time for simple transactions from five days to three days,” Anti-Red Tape Authority (ARTA) Deputy Director-General Ernesto V. Perez said during the virtual signing of the joint memorandum circular (JMC).
The JMC also removes the notarization requirement for application forms. The memorandum circular covers all cities, municipalities and relevant National Government agencies.
The JMC, which updates the 2018 guidelines on the processing of construction-related permits, sets the standards for processing construction-related permits such as building permits, certificates of occupancy and other ancillary and accessory permits issued by local government units (LGUs).
It also provides guidelines on the streamlining of local government processes related to the issuance of construction-related permits and certificates.
Under the JMC, LGUs are directed to classify construction-related applications for building permits and certificates of occupancy into simple, complex, and highly technical.
Simple applications cover the construction of private garages (not more than 90 square meters), carports, sheds, agricultural buildings, fences over 1.80 meters in height, and tanks and towers, among others.
Complex applications cover the construction of multiple-unit residential houses, single detached residential houses, commercial buildings, warehouses, and market buildings, among others.
Highly-technical applications cover the construction of buildings exceeding nine storeys such as commercial and market buildings.
“This means that the processing time for simple transactions will be reduced from five to three days,” ARTA said in a statement.
“There will also be a set processing time of seven days for complex transactions and 20 days for highly technical transactions in alignment with Republic Act No. 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018,” it added.
The JMC also calls for the setting up of a one-stop shop for construction permits in all cities and municipalities.
An oversight committee on construction permit reform will also be formed to ensure compliance.
Signatories to the JMC were Interior Secretary Eduardo M. Año, Trade Secretary Ramon M. Lopez, ARTA Secretary Jeremiah B. Belgica, Information and Communications Acting Secretary Emmanuel Rey R. Caintic, Professional Regulation Commission Chairman Teofilo S. Pilando, Jr., Public Works and Highways Acting Secretary Roger G. Mercado, and Bureau of Fire Protection Director Louie S. Puracan.
Mr. Caintic replaced former Secretary Gregorio B. Honasan II, who filed his certificate of candidacy for senator on Oct. 8. — Arjay L. Balinbin
PANIBAGONG UMAGA 1st Place in Oil and Acrylic Category
The winning works in this year’s Shell National Students Art Competition included an image of unseen emotions under a face mask, frontliners, and a new take on bayanihan.
Because of the ongoing coronavirus disease 2019 (COVID-19) pandemic, for the second year in a row, the Pilipinas Shell Petroleum Corp.’s 54th National Students Art Competition (NSAC) awarding ceremony was held online.
“As we bravely continue to navigate through this pandemic, and look forward to recovery, we believe that art could spark change and progress,” Lorelie Quiambao-Osial, President and Chief Executive Officer of Pilipinas Shell Petroleum Corp., said in her opening speech on Dec. 10.
“We challenged our young artists with this year’s theme: RestART. We tasked you to create art that inspired us to rebuild the nation and keep the Philippines moving forward. Thank you for sharing your talents with us and for your commitment to your craft and to the art community,” she said.
This year’s competition attracted 1,746 entries nationwide from 398 participating schools. Winning pieces were selected for the following categories: Digital Fine Arts, Sculpture, Watercolor, and Oil and Acrylic.
The top winners in each category had recurring messages of resilience, hope, and courage.
The winners all gave short speeches on video when accepting the awards.
In the Digital Fine Arts Category, Gerard Lynn Mara Santos of the Technological University of the Philippines won first place for his work, Pintura, which depicts colorful portraits covered in face masks. Speaking about her work, Ms. Santos said that she thought of what our future would be like after the pandemic. “Magiging masaya ba tayo (Will we be happy?) or do we still feel the same [as] before the pandemic?”
Panibagong Umaga by Jarren Dahan from the University of Mindanao won the Oil-Acrylic Category. The piece depicts a closely gathered group of smiling people, their face masks lowered to their chins. Mr. Dahan described the smiles in his painting as a “metaphor for hope.”
In the Watercolor category, Ranier Angelo Bolivar from the GK College of Business, Arts, and Technology won for his painting titled Moving Forward. The piece presents frontliners as modern-day heroes. He said that he used a contrast of light on dark hues to depict optimism in turbulent times.
University of the Philippines-Diliman’s Maica Rozel Borlagdan won first place in the Sculpture category for her work titled, If Only We’ll Unite and Conquer. She said that we need to realize the problem and know how to act on it. “Hindi naman natin masasabi na need nating mag-restart kung hindi natin nakikita na walang problema sa dapat nating pagsimulan muli (We cannot say that we need to restart if we do not see that there is a problem that needs a reset),” she said.
The 2nd and 3rd place winners are: Pagtanggap Mo sa Aking Pagkukulang by Mary Franz Salazar, and Tayo’y Makakahinga Muli by Ralph Enzo Rabaya in the Digital Fine Arts category; Regrowth by Ranier Angelo Bolivar, and Puhon by Gyles Maverick Abac in the Oil/acrylic category; Sa Dibdib Mo’y Buhay by Patricia Serrano, and Progresibong Papel ng Pagkatao by Elaiza Judilla in the Watercolor category; and Laban Lang! by Mark Eclipse, and Future on Our Fingerprint by Zoe Manigan in the Sculpture category.
The winners each received a cash prize, a limited Shell NSAC shirt and jacket, a medal, a plaque, or a Certificate of Merit. The respective school or university of the first prize winners receive a special grant of P20,000 in support of their Faculty Development Program.
This year’s judges were all artists: Ross Capili, Dopy Doplon, and Pablo Biglang-Awa, Jr. for the Digital Fine Arts category; Edgar Fernandez, Antipas Delotavo, and Renato Habulan for the Watercolor category; Isko Andrade, Kenneth Esguerra, and Alfredo Esquillo, Jr. for the Oil/Acrylic category; and Paul Quiano, Toym Leon Imao, and Reggie Yuson for the Sculpture category.
Launched by Pilipinas Shell in 1951 as a search for art for its calendar grew to become the longest-running Philippine student art competition. Among NSAC’s winners were Jose Joya, Ang Kiukok, and Benedicto “BenCab” Cabrera — all National Artists today.
For updates on the virtual gallery of winners, visit Pilipinas Shell’s social media accounts and website https://pilipinas.shell.com.ph/. — Michelle Anne P. Soliman
The board of directors of Leviste-led Solar Philippines Nueva Ecija Corp. (SPNEC) has approved the use of its initial public offering (IPO) proceeds for land acquisition and capital expenditures (capex) effective Jan. 19.
In a disclosure on Tuesday, SPNEC said that the board also approved to allocate its IPO proceeds for bid bonds, bid security, and other expenses for potential offtake agreements, during a meeting on Dec. 20.
The move will enable the company to be responsive to contracting opportunities in the future, SPNEC said.
The company earlier said it would use the net proceeds of its P2.7-billion IPO to finance the development of 50-megawatt (MW) solar project, the first phase of its 500-MW solar power plant in Nueva Ecija province, the construction of transmission line, lease for 2022, and general corporate purposes.
On its market debut on Dec. 17, SPNEC inched up 1% from its IPO price of P1.00 per share. Up to 1.72 billion shares worth P1.61 billion were traded that day.
“Subject to applicable law, rules and regulations to be clarified, the incorporation and funding of wholly-owned subsidiaries to hold the IPO’s use of proceeds and to receive instructions from the company for the use of such proceeds,” the company said.
The board also approved the incorporation and the transactions with banks to secure bid bonds and bid security for the company’s projects.
SPNEC is the first company to be listed in the exchange without conducting commercial operations.
On Tuesday, SPNEC shares gained four centavos or 3.6% to close at P1.15 apiece. — Marielle C. Lucenio
THE Commission on Audit (CoA) said it discovered another P390 million worth of tax credits to textile companies that were improperly granted, bringing the total irregular credits in the six years to 2014 to P3.41 billion.
According to a CoA report to the Department of Finance (DoF), the Commission said it found P214.38 million in invalid tax credit certificates granted to Primeknit Manufacturing Corp., along with P175.66 million given to Tai-Cheng Integrated Resource, Inc.
The illegal tax credit certificates were granted between 2008 and 2014, the DoF said in a statement on Tuesday.
Tax credit certificates are typically given to exporters registered with the Board of Investments (BoI). Through these certificates, exporters can obtain refunds on raw materials taxes they paid by offsetting the tax credits against other taxes due.
However, some companies that illegally obtained tax credit certificates sold them on to other companies at a discount, allowing companies not entitled to them to reduce their own tax liabilities.
The Commission found that the One-Stop-Shop Inter-Agency Tax Credit and Duty Drawback Center issued illegal certificates to either ghost exporters or real companies that were not in the export trade, such as the textile companies.
Other textile firms with invalidated tax credit certificates were Silvertex Weaving Corp., Knitech Manufacturing, Inc., Capital-Roll Knit Corp., Uni-Glory’s Knitting Corp., Miskhu Industrial Corp., and Universal Pacific Knitting Mills, Inc.
Silvertex had the largest tally of improperly-granted tax credit certificates at P906.8 million, followed by Capital-Roll at P664.92 million.
The One-Stop-Shop Inter-Agency Tax Credit and Duty Drawback Center is attached to the DoF.
The CoA said representatives from the DoF, BoI, Bureau of Customs, and the One-Stop-Shop Inter-Agency Tax Credit and Duty Drawback Center responsible for the approval of the illegal certificates, along with the recipients and claimants, are potentially liable for the illegal issuance of such certificates. — Jenina P. Ibañez
THE Philippine College of Physicians (PCP) shared healthy living tips for this year’s holiday season and beyond.
“We can still make Christmas happy. Just follow the minimum health standards,” said Dr. Ma. Encarnita B. Limpin, president of the Philippine College of Physicians, in the vernacular in a Dec. 21 webinar.
Here are a few tips for holiday feasting:
Sit-down meals are better than buffet-style ones.
The advantage of a sit-down noche buena (the traditional Christmas Eve feast) is that there’s no need to line up for food, thus promoting physical distancing. The other advantage is that — since there’s no need to help one’s self to a serving — fewer hands touch the serving spoons of each dish.
For air circulation purposes, an outdoors venue is also more preferable to an enclosed one.
Take your mask off only when you’re about to eat.
“I want to call the attention of mall owners,” Dr. Limpin said. “Ang daming tao sa mga restaurant na hindi pa kumakain e wala ng suot na mask [There are so many people in restaurants who take off their masks even before they start eating.]” Masks need not be removed when conversing, she added.
The reason COVID-19 cases are again rising in other countries is because people stopped following health protocols after being vaccinated, and after noting the initial drop of cases in their area.
The Philippines is doing it right by continuing to encourage mask wearing, hand washing, and physical distancing, Dr. Limpin said.
Mind your portions — especially if you’re diabetic.
Feeling deprived of a specific type of food might encourage an individual to gorge on it later on. A way to quell cravings is to enjoy food in moderation.
She recommended the following portions for diabetic patients: one mango cheek, seven grapes, and half a large apple or orange.
Diabetics with controlled sugar levels who crave Filipino Christmas staples like leche flan and fruit salad may have a teaspoon and three teaspoons of the desserts, respectively. “Para lang matikman mo [Just so you can have a taste of it],” she added.
Keep moving throughout the day.
Prioritizing physical movement during this festive season helps burn the energy gained from the food one consumed at social gatherings. It also helps keep the body in tip-top shape.
Pencil pushers are advised to take regular breaks away from their desk to stretch and walk. Dr. Limpin said that the PCP will recommend to the Department of Labor and Employment to make it an office policy for workers to take a break every hour to move. “You can achieve the ideal 10,000 steps a day if you do that [in addition to your] other regular activities,” she said. — Patricia B. Mirasol
Sy-led bank refutes allegations after fraud incident
BDO Unibank, Inc. refuted claims that alleged the bank has revised its terms and conditions in relation to losses from unauthorized online transaction following the fraud incident earlier this month.
“There was no added clause due to the recent incident. BDO made exceptions and shouldered the losses not caused by the clients to maintain good customer relationship even if the bank is not legally liable,” the bank said in a statement on Tuesday.
Some netizens have posted photos of what they alleged as “new and improved” terms and conditions following the incident where some BDO clients saw unauthorized fund transfers to UnionBank of the Philippines, Inc. ac-counts.
Based on the screenshot, BDO’s liability clause says the bank is not liable for losses from improper transactions “with or without” the participation of the account owner.
“Liability clause is a regular compliance in the banking industry. This has been part of the normal compliance for a long time,” BDO said.
Earlier, the bank acknowledged the “sophisticated fraud technique” that hit several clients.
Last week, BDO said it was already processing the reimbursement claims of about 700 clients affected by the incident.
For its part, UnionBank said it had frozen nearly P5 million in the accounts that received unauthorized fund transfers from BDO.
Last week, UnionBank Chief Technology and Operations Officer Henry Rhoel R. Aguda said the bank had identified about six individuals as persons of interest in the case.
The Bangko Sentral ng Pilipinas (BSP) has created a task force that will focus on investigating the fraud incident involving BDO and UnionBank. BSP Governor Benjamin E. Diokno said the task force was ordered to submit recommendations within 30 days.
The central bank is still checking whether there were gaps in the concerned banks’ security measures to gauge whether there is a need to impose sanctions or penalties, said Melchor T. Plabasan, technology risk and innovation supervision director at the BSP.
BDO is the country’s largest bank in terms of assets at P3.323 trillion as of June.
BDO TEAMS UP WITH JAPAN’S RESONA BANK
In a separate statement, BDO said it had entered into a memorandum of understanding with Resona Bank Group (RBG) that would allow the local lender to finance RBG’s clients in the Philippines.
“For BDO, the partnership with Resona can potentially increase its support to Japanese companies doing business in the country, particularly those located in various industrial zones,” the bank said.
Resona is Japan’s fourth-largest universal bank. BDO’s alliance deal with RBG will include the Japanese lender’s units Resona Bank, Saitama Resona Bank, Kansai Mirai Bank, and Minato Bank.
The Sy-led lender’s third-quarter net income decreased by 10.6% year on year to P11.033 billion due to increased expenses and as its net interest income slipped amid lower rates. This brought its net profit as of end-September to P32.484 billion, increasing by 95.7% from the P16.598 billion in the same period last year.
On Tuesday, its shares closed at P123.60 apiece, down by P3.40 or 2.68% from its previous finish. — Luz Wendy T. Noble
Whether it be decorative pieces, uniquely designed dinnerware, fashion items which are handwoven with indigenous prints or printed with artworks, or art history books, uniquely designed are not only for aesthetics but also function, here are some art-sy gift suggestions.
shop.ayalamuseum.org
Ayala Museum Shop
Since its soft opening earlier this December, the Ayala Museum has also been welcoming guests to the Ayala Museum Shop. Its collection includes books, kitchenware, home décor, fashion items, and toys, many designs of which are based on items in the museum’s collections.
Possible gift items include fans featuring reproductions from an album of watercolor paintings by Jose Honorato Lozano depicting inhabitants, costumes, traditions of 19th-century Philippines (P999) and fans made of the handwoven inabel cloth of the Ilocos region (P935). There are also pillowcases sporting prints of Juan Luna paintings (P1,999), a “Color Your Own Zobel” (horse, dog, carabao) kit (P1,999), Damian Domingo metal book ends (P999), museum collection umbrellas (P599), hand-painted serving trays (P949.75 to P1,199.75), T-shirts by Manuel Baldemor (P599), and canvas silkscreen printed eyeglass pouches (P599), among many other options.
There is also an Art and Care Kit (part of the proceeds of which will be donated to the museum’s Art & Wellness program for frontliners) which includes a Jose Lozano art tote bag, face mask, stickers, and 12 activity sheets (P1,249.95).
Orders are processed daily from Tuesday to Saturday. Orders received before 3 p.m. (Manila time) from Tuesday through Saturday are processed on the same day while orders received after this time are processed on the next business day. If the order was placed after 3 p.m. on a Saturday, it will be processed on the next business day (Tuesday). Orders placed on a Sunday, Monday, or holiday will be processed on the next business day. Estimated delivery date will usually be within three to five business days in Metro Manila and up to 10 days for provincial orders (excluding Saturday, Sunday, and public holidays).
The Ortigas Foundation Library’s souvenir and gift items all feature images from their rare Filipiniana collections — from images of 19th century Filipinos, to Philippine flora, to old photographs. Items include bags, shirts, books, paper products, and more.
Unique items include 20×30 inch poster map prints (P1,500) featuring the Murillo Velarde Philippine Map from 1734 which includes the shoal originally called Panacot, today known as Panatag, Scarborough, and Bajo de Masinloc, and a 1928 map of Fort McKinley, now known as Bonifacio Global City (available for pickup only). There are also mugs (P150) with images from the Boxer Codex among other prints, umbrellas (P450) with a famous photo of a Sangley Filipina in the 19th century, and an eco-straw (P130).
Paper products include calendars (P150), notebooks (P120 to P150), and cards (P50 to P150) with illustrations of Philippine fish, flowers, costumes, and archival photos.
Premium items include travel bags (P1,200), pocket net bags (P950), and a variety of scarf designs (P1,450) including one printed with a handwritten passage from Noli Me Tangere. T-shirts are printed with designs ranging from costumes, to fish, to vintage cigarette wrappers (P425). There are also tote bags (P350 to P490), and leatherette passport and luggage tags (P485).
The Ortigas Foundation Library located at 2nd Floor McKinley Building (Unimart), Greenhills Shopping Center, San Juan City. It is open on Mondays to Fridays (9 a.m. to 3 p.m.). It is closed on holidays. The collection is available online at the https://www.facebook.com/Ortigas.Foundation/shop/. For more information, visit the Ortigas Foundation Library Facebook page or contact 0977-728-5130 or 0947-426-1432.
‘Inspired by the Masters’ sling bag
Arts & Letters
Among other arts-focused items, Arts & Letters offers limited-edition boxed gift sets, inspired by Lewis Carroll’s Alice in Wonderland and Antoine de Saint-Exupéry’s The Little Prince. Sets come with a mug or a pair of mugs featuring characters from the literary inspirations and a 250-gram pack of barako blend coffee from Benguet. A Cinderella set, based on Charles Perrault’s fairy tale, has a tote bag, a pouch and a mug. All sets come in eco-friendly packaging.
And then there is the new “Inspired by the Masters” sling bag collection. Made from canvas with a zipper and magnetic closure on flap, each bag highlights the iconic subject of a world-renowned artist: the Edgar Degas-inspired Ballerina (red), and the Vincent Van Gogh-inspired Iris (blue) and Sunflower (yellow).
Check out more art-based gifts on the artsandlettersmanila page on Facebook or Instagram or e-mail artsandlettersmanila@gmail.com.
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Artbooks.ph
Artbooks.ph
Artbooks.ph
Artbooks.ph
Artbooks.ph
If you are looking for a gift item for an art enthusiast, Artbooks.ph is the place to go. The online bookstore has a wide range of tomes to choose from.
Here are 12 books under P1,000: Walk Manila (P680), a guidebook which identifies 100 historic sites and structures, including those deemed as heritage-at-risk in the different districts of Manila; Poster/ity: 50 Years of Art & Culture at the CCP (P750), which documents a selection of over 200 posters of exhibitions, performances, and other events held at the Cultural Center of the Philippines (CCP) from its opening in 1969 to the present; Drawings by Chabet (P245.54), reproductions of 10 posters from the archive of the CCP; Czar Kristoff: To Destroy Is To Build (P335), an examination of a series of videos of building demolitions found on Instagram; Botika Bituka (P500), a limited edition book based on Cesar Hernando’s first experimental short film Botika Bituka documenting the state-sanctioned violence and murder during the administration of Ferdinand Marcos; Myself, Elsewhere (P600), the first volume of a three-book memoir by historian and journalist Carmen Guerrero Nakpil covering the period between 1922 and 1945; Culture and History (P795), a collection of 15 essays by National Artist for Literature Nick Joaquin; Pacita Abad: Door to Life (P750), documentation of an exhibition featuring Pacita Abad’s mixed-media paintings based on a trip to Yemen in 1998; Bahay Kubo (P360), a picture book based on the beloved Filipino children’s song; First Around the Globe: The Story of Enrique (P245), takes readers to the world of Ferdinand Magellan’s Age of Discovery and introduces them to Enrique, Magellan’s servant and interpreter and the accidental balikbayan who was an extraordinary witness to history; and, Mangled Mornings (P340), a poetry collection of Aida Santo which spans more than half a century.
While the cut off on deliveries for provincial and international orders and for orders within Metro Manila has passed, they can still be placed for later deliver. Artbooks.ph will go on holiday break from Dec. 22 to Jan. 3. Orders made within that period will be processed when they resume operations.
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Mini Filipino Santa Claus with Facemask
tesoros.ph
Tesoros Philippine Handicrafts
The famous Philippine handicrafts and retail store offers a selection of gift items for men, women, children, as well as decorations, and souvenirs.
Items for men include wallets printed with artworks (P379) and card holders (P319), and pouch bags printed with Philippine landscapes (P199). Items for women include Fashion Bundle Sets (P999 to P1,499), a bamboo bag with indigenous patterns (P3,980), “everyday” zippered bags (P1,350), and abaca slip-ons (P1,599). Items for children include models of the Philippine jeepney (P143 to P1,327) and turo-turo plushie toys (P369 to P739).
Christmas items include the mini Filipino Santa Claus (P319 to P749), capiz star décor (P99), and a variety of nativity sets (P999 to P3,919).
New arrival items include the Icoño Fan (P750), bullion embroidered face masks (P329), and a four-piece set of embroidered ramie placemats and napkins (P2,999).
Cash on delivery transactions are accepted for orders within Metro Manila only. Shipping is free within Metro Manila for a minimum purchase worth P3,000. Shop online atwww.tesoros.ph or drop by Tesoros Makati at 1016 A. Arnaiz Ave., Makati from Mondays to Saturdays (9 a.m. to 6 p.m.).
UNITELLER Philippines partnered with Universal Storefront Services Corp. (USSC) to further expand their cash pickup locations for remittances.
“With USSC being one of the largest one-stop shops in the Philippines and with stores located strategically across the country, the partnership increases the accessibility of remittance collection for customers,” Noel C. Cristal, president of UniTeller Philippines, said in a statement.
The partnership will add 1,491 USSC pickup locations, expanding UniTeller’s physical touch points to about 20,000 across the country.
USSC also has an e-wallet app which allows customers to manage their transactions, reducing the waiting time needed to receive or send a remittance.
“Our partnership with UniTeller shows our determination to help Filipinos here and in the US with their financial needs by offering services that goes beyond just remittances” USSC President Jose Xavier Gonzales said.
Remittances are an important lifeline for the Philippines as it fuels household consumption, which makes up 70% of the economy.
The US, which is the main market of UniTeller, is the biggest remittance source for the Philippines.
“As remittances continue to remain resilient in the Philippines, our partnership with USSC allows us to form an even more efficient distribution network,” UniTeller Chief Executive Officer Alberto Guerra said.
Latest central bank data showed cash remittances increased by 2.4% year on year to $2.812 billion in October, the biggest inflows in three months or since the $2.853 billion in July. This brought remittances to $25.929 billion in the 10-month period, up by 5.3% from a year earlier. — Luz Wendy T. Noble
MODERNA, INC. said on Monday that a booster dose of its COVID-19 vaccine appeared to be protective against the fast-spreading Omicron variant of the coronavirus in laboratory testing and that the current version of the shot would continue to be its “first line of defense against Omicron.”
The company said its decision to focus on the current vaccine, mRNA-1273, was driven in part by how quickly the recently-discovered variant is spreading.
Moderna said it still plans to develop a vaccine to protect against Omicron specifically and hopes to start clinical trials early next year.
“What we have available right now is 1273,” Dr. Paul Burton, Moderna’s chief medical officer, said in an interview. “It’s highly effective, and it’s extremely safe. I think it will protect people through the coming holiday period and through these winter months, when we’re going to see the most severe pressure of Omicron.”
Moderna’s shares were down more than 4% at $282.26 in afternoon trading.
The company said a two-dose course of its vaccine generated low neutralizing antibodies against the Omicron variant, but a 50-microgram booster dose increased neutralizing antibodies against the variant 37-fold. A 100-microgram booster — the same strength as the original shots — drove neutralizing antibodies to more than 80 times pre-boost levels.
Moderna President Stephen Hoge on a conference call said the company currently does not plan to pursue approval for the higher booster dose.
The antibody levels generated by the lower dose shot “are comfortably above” what would signify a risk of breakthrough infections for other variants of concern, Mr. Hoge said.
Moderna did not specify whether it believes its two-dose regimen will reduce hospitalizations or deaths from the Omicron variant. Studies by other researchers have shown a “reasonable and robust” T cell response is maintained against the variant, Mr. Hoge said, which could suggest protection against severe disease. T cells in the immune system recognize and eliminate virus-infected cells.
The new data, which has not yet been peer reviewed, tested blood from people who had received Moderna’s vaccine against a pseudovirus engineered to resemble the Omicron variant. It is similar to data discussed last week by top US infectious disease expert Dr. Anthony Fauci.
It may not be necessary to push antibody levels higher than those generated by the 50-microgram dose for many people, said Mr. Hoge. Governments could, however, choose a higher-dose version if they want to confer an enhanced level of protection.
The company said the 100-microgram dose was generally safe and well tolerated, although there was a trend toward slightly more frequent adverse reactions.
US regulators authorized the 50-microgram booster of Moderna’s vaccine in October.
Both the Moderna and the Pfizer/BioNTech vaccines have been linked to rare cases of heart inflammation, particularly in young men. Several studies have suggested that Moderna’s vaccine is likely to cause the heart inflammation at a higher rate than Pfizer’s.
Omicron, a highly contagious variant first detected last month in southern Africa and Hong Kong, has raced around the globe and been reported in 89 countries, the World Health Organization said on Saturday. — Reuters
HOLCIM PHILIPPINES, Inc. said the union at its Lugait plant in Misamis Oriental has called off plans to strike after allowing an arbitrator to step in to help seal a collective bargaining agreement (CBA).
The cement manufacturer said in a disclosure to the stock exchange on Tuesday that the Holcim Philippines Workers Union-Federation of Democratic Labor Organization, which has 90 members, “agreed to submit the pending CBA provisions to voluntary arbitration.”
Holcim “will continue to work with the Union to close the CBA negotiations under terms that are beneficial to both parties,” it said, without elaborating.
In a disclosure dated Dec. 10, Holcim first announced a possible strike at the plant after CBA talks were deadlocked.
The company said that it was “exerting efforts” to resolve the labor dispute in consultation with the Labor department.
Holcim said it has a plan in place to ensure sustained plant operations in the event of work disruptions, in order to keep serving clients in Northern Mindanao. — Keren Concepcion G. Valmonte
