Japan weighs lifting of pre-departure COVID tests for travellers – media

August 23, 2022 | 12:37 pm

TOKYO – Japan may lift requirements for pre-departure COVID-19 tests for travelers entering the country, the Nikkei newspaper has reported.

Japan has some of the strictest pandemic border measures among major economies, requiring travelers to present a negative coronavirus test taken within 72 hours of departure.

The government may soon waive the tests for vaccinated passengers, with the change taking effect in a few weeks, Nikkei reported late Monday.

Chief Cabinet Secretary Hirokazu Matsuno declined to comment on Tuesday on the timing of any border easing, saying it would depend on COVID conditions in Japan and overseas.

“Along with taking every measure to prevent contagion, we’ll also promote economic activity – and with border control measures, we’ll relax them in stages while keeping these two things in balance,” Mr. Matsuno told reporters.

Representatives from Japan‘s foreign and health ministries did not immediately respond to requests for comment.

Prime Minister Fumio Kishida, who is recuperating from COVID at his home after testing positive on Sunday, said in May that he wanted to bring Japan‘s border measures more in line with those of other Group of Seven nations. Read full story

Japan in June opened up to tourists for the first time in two years, though visitors must get visas and stick to guided, package tours. Read full story

Domestic and foreign business groups have urged a greater relaxation of Japan‘s border controls, saying the measures risk causing the nation to fall behind economically.

The European Business Council in Japan said that it welcomed the lifting of COVID test requirements and discussions on lifting caps on inbound travelers, and that the easing would help make Japan a more attractive market.

“We would like to reiterate that the need for business people to have a visa before departing for Japan is still an obstacle,” EBC president Michael Mroczek said. “This in particular for businesses that have no presence in Japan.” – Reuters

AllHome Corp. releases notice to stockholders related to the amendment to the Articles of Incorporation of the Company

August 23, 2022 | 10:30 am

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Marcos proposes record P5.3-T budget

August 23, 2022 | 12:34 am

classroom-students-teacher — PHILIPPINE STAR/EDD GUMBAN

By Diego Gabriel C. Robles

THE MARCOS administration proposed to increase the allocations for education, health, agriculture, and infrastructure under the P5.268-trillion national budget for 2023, while lowering allotments for other priority sectors such as social protection.

The Department of Budget and Management (DBM) submitted to Congress on Monday the National Expenditure Program (NEP) for fiscal year 2023, which is the first full-year budget proposed by President Ferdinand R. Marcos, Jr.

The P5.268-trillion budget is 4.9% higher than this year’s budget, and equivalent to 22.2% of gross domestic product (GDP).

“This budget reflects the Agenda for Prosperity: economic transformation towards inclusivity and sustainability. As first budgets go, this proposed budget for next fiscal year represents a 75.5% growth from the P3.002-trillion budget in 2016,” Mr. Marcos said in his budget message.

The education sector, as mandated by the Constitution, received the biggest budget at P852.8 billion, an 8.2% increase from this year’s P788.5-billion allocation. This includes the funds allotted for the Department of Education (DepEd), State Universities and Colleges (SUC), Commission on Higher Education (CHED), and Technical Education and Skills Development Authority (TESDA).

The proposed DepEd budget is at P710.66 billion, up by 19.9% from the previous year. It is the second-highest budget among departments, following the Department of Public Works and Highways (DPWH).

“With the DepEd’s allocation, we hope to finally resume face-to-face classes to ensure holistic learning,” Budget Secretary Amenah F. Pangandaman said on Monday.

According to the DBM, P54.9 billion will go to education assistance and subsidies, while P47.4 billion will be earmarked for the Universal Access to Quality Tertiary Education Program.

Meanwhile, allocations for flexible learning options and basic education facilities were accorded P19.4 billion and P9.8 billion, respectively.

Ms. Pangandaman said the proposed budget of the agriculture sector stood at P184.1 billion, 39% up from P132.2 billion this year. Broken down, the Department of Agriculture will get a P102.16-billion budget, up 49% from a year ago, while the Department of Agrarian Reform will receive P15.85 billion, 58% higher than this year’s allocation.

Under the administration’s food security initiative, the National Rice Program will receive P30.5 billion. Irrigation services, as well as the construction and development of farm-to-market roads, will be given P29.5 billion and 13.1 billion, respectively.

“This is in line with the President’s directive that top priority must be given to the agriculture sector so as to invigorate and transform this sector from being an economic laggard to one of the main drivers for growth and employment,” DBM said in a statement, citing an anticipated global food crisis.

The health sector will see a 10.4% rise in next year’s budget to P296.3 billion. The Department of Health (DoH) will see 6.6% increase to P196.08 billion, while the Philippine Health Insurance Corp. will get a P100.23-billion budget.

“The Universal Health Care program will continuously be a budget priority to ensure accessible healthcare for Filipinos, especially those in the lower stratum of society,” Ms. Pangandaman said.

INFRASTRUCTURE
Under next year’s proposed budget, infrastructure spending is set at P1.196 trillion, 1.54% up from P1.178 trillion in the 2022 program.

The DPWH received the biggest budget among departments with P718.36 billion, but this is 8.6% lower than this year’s allocation.

On the other hand, the Department of Transportation (DoTr) saw a 122% increase in next year’s budget to P167.12 billion. This covers the augmented funding requirements for various foreign-assisted railway projects, according to the DBM.

“President Marcos earlier said that this administration shall continue to implement infrastructure projects and refocus to ‘Build, Better, More.’ These projects — subway, regional airports, railways and farm-to-market roads — will surely benefit the Filipino people,” Ms. Pangandaman said.

Under the infrastructure program, P140.4 billion will be allotted for the Network Development Program, P88.5 billion for the Asset Preservation Program, and P38 billion for the Bridge program.

This also includes funding for priority projects such as the North-South Commuter Railway, the Metro Manila Subway Phase 1, the Light Rail Transit Line 1 (LRT-1) Cavite Extension, the Philippine National Railways (PNR) South Long Haul, the Metro Rail Transit Line 3 (MRT-3) rehabilitation program, the Land Public Transportation program, the EDSA Busway project, the EDSA Greenways project, the Cebu BRT project, as well as the fuel subsidy program for public transport drivers.

Zyza Nadine Suzara, a public finance expert and executive director of I-Lead, said there needs to be a closer look into which departments received the “avalanche in funding.”

“The avalanche in funding will give us an indication of what the real priorities of the administration [are], and what the succeeding budgets of the Marcos administration will look like,” she said.

The Marcos administration earlier said it will allocate 5-6% of gross domestic product (GDP) annually for infrastructure.

BIGGER BUDGET
The Department of the Interior and Local Government (DILG) had the third highest budget with P253.05 billion, 1.4% higher than this year’s allocation.

In its efforts to help local governments, the administration proposed to allocate P28.9 billion for the Local Government Support Fund, composed of P13.9 billion for the Growth Equity Fund and P10 billion to support the Barangay Development Program of the National Task Force to End Local Communists Armed Conflict (NTF-ELCAC).

“Apart from National Government programs, funding support for local government units appears to be a priority for the administration,” Ms. Suzara said.

However, “the P10-billion proposed budget for the controversial NTF-ELCAC sticks out like a sore thumb in the 2023 National Expenditure program. This should likewise be watched closely,” she added.

The Department of National Defense will see a 9.2% increase in its budget to P240.7 billion.

However, the allocations for the Department of Social Welfare and Development slipped 3.8% to P197.03 billion next year.

This contains P115.6 billion for the Pantawid Pamilyang Pilipino Program (4Ps); P25.3 billion for the Social Pension for Indigent Senior Citizens; P19.9 billion for Protective Services for Individuals and Families in Difficult Circumstances; and P4.4 billion for the Sustainable Livelihood program.

The budget for the Department of Labor and Employment (DoLE) declined 48.3% to P26.23 billion next year.

Most of the DoLE’s proposed budget is for its Livelihood and Emergency Employment program, earmarked for P18.4 billion. This includes the Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (TUPAD) with P14.9 billion and the DoLE Integrated Livelihood Program with P2.5 billion.

“At the national level, the 2023 National Expenditure Plan seems to contain a lot of the old existing programs of various departments and agencies. Based on the press conference, there are incremental adjustments in funding levels like the 4Ps program and those meant to support education, social services and public health. The public should scrutinize these allocations,” Ms. Suzara said.

Most of next year’s proposed budget will still go to social services at P2.071 trillion (39.31%) and economic services at P1.528 trillion (29.01%).

The rest of the proposed budget is allocated to general public services at P807.2 billion (15.32%); debt burden, including net lending, at P611 billion (11.59%); and defense at P250.7 billion (4.76%).

The revenue program for 2023 is at P3.63 trillion or equivalent to 15.3% of GDP. The rest of the proposed budget will be sourced from other nontax revenues, privatization, and deficit financing through debt.

The administration’s goal is to achieve 6.5-8% GDP growth next year until 2028, as well as reduce the poverty rate to a single digit by the end of its term.

CLOSE COORDINATION
“We look forward to a close coordination with [the] House of Representatives and the Senate. We expect that the budget will be forwarded to Malacañang by [the] first or second week of December,” Ms. Pangandaman said.

Leaders of the House of Representatives promised to finish the committee and plenary deliberations on the budget by Oct. 1, House Speaker Ferdinand Martin G. Romualdez said.

Congress is scheduled to go on its first recess on Oct. 1. Session will resume on Nov. 7.

“We will make sure that every centavo will be spent wisely to implement programs that would save lives, protect communities and make our economy strong and more agile,” Mr. Romualdez said during the submission of the NEP for fiscal year 2023 on Monday.

Marikina Rep. Stella A. Quimbo, senior vice-chairman of the Committee on Appropriations, said hearings with start on Aug. 26 with the Development Budget Coordination Committee (DBCC).

“(The budget hearings) will run all the way down to Sept. 16, and then by Sept. 21, we should be ready for plenary debates,” Ms. Quimbo said.

House Appropriations Committee Chairman and AKO-BICOL Party-list Rep. Elizaldy S. Co said pre-budget deliberations started last week so departments can address parochial concerns of lawmakers.

“Next year we plan to have it earlier, (We will) start around February and March to coordinate before the (NEP) is submitted to Congress,” Mr. Co said. “We want everyone in the Congress to be actively collaborating.”

Minority leader and Pantawid Pamilyang Pilipino Program Part-list Rep. Marcelino C. Libanan said that the minority will do its part in scrutinizing the budget during the plenary sessions.

“We will show the side of the minority, the voice of the people, but we will not be obstructionist but rather we’ll be a constructive minority because we are only one house,” Mr. Libanan said. — with Matthew Carl L. Montecillo

Consortium to sign contract for Sangley airport in Sept.

August 23, 2022 | 12:33 am

By Arjay L. Balinbin, Senior Reporter

A CONSORTIUM composed of Philippine, European and South Korean companies is set to be awarded the contract to develop the Sangley Point International Airport (SPIA) in September, according to the Cavite provincial government.

Cavite Governor Juanito Victor “Jonvic” C. Remulla, Jr. confirmed to BusinessWorld on Monday that no groups participated in the “competitive challenge” or Swiss challenge process for the SPIA project.

The SPIA Development Consortium had submitted an unsolicited proposal to develop the Sangley airport.

It is composed of the Virata-led Cavitex Holdings; Yuchengo-led House of Investments, Inc.; MacroAsia Corp., an aviation support services provider controlled by the family of billionaire Lucio C. Tan; Samsung C&T Corp., a South Korean construction and engineering company; Munich Airport International, a wholly owned subsidiary of Flughafen München GmbH; and Arup, a UK-based design company.

Cavite’s Public-Private Partnership (PPP) Selection Committee Chairman Renato A. Abutan informed Cavitex Holdings in an Aug. 18 letter that the province intends to award the contract to the SPIA Development Consortium on Sept. 14. The date is still tentatively scheduled.

Mr. Remulla sent a copy of the letter to BusinessWorld on Monday.

All unsolicited proposals are required to undergo a Swiss challenge, wherein other groups may submit counterbids.

As demand for air travel is expected to increase in the next 30 to 40 years, the province of Cavite has been pushing for the development of the SPIA as an alternative to the Ninoy Aquino International Airport in Pasay City, the Philippines’ primary gateway.

MacroAsia President and Chief Operating Officer Eduardo Luis T. Luy told reporters on Friday that there were no bids submitted during the Swiss challenge, saying this is a “good sign.”

“We (MacroAsia) are mostly going to be on the O&M (operations and maintenance) side, because previously we were supposed to be part of this project in a different way. Now that goal has kind of shifted, we will be participating more on the operations side of things,” he said on the sidelines of the formal opening of Lufthansa Technik Philippines, Inc.’s new hangar in Pasay City.

To recall, MacroAsia and its partner China Communications Construction Co. Ltd. had negotiated with Cavite for the project in 2020, but the province canceled its notice of selection and award in January 2021 due to the “various deficiencies in the submission of requirements to conclude the joint-venture agreement.”

Cavite City’s Sangley Point, located along a peninsula that juts out to Manila Bay, is currently operated by the National Government as a supplemental runway to NAIA. The airstrip was first built in 1951 by the US Navy.

BSP expected to hike rate to 4.5% by end-2022

August 23, 2022 | 12:32 am

crowd-face mask — PHILIPPINE STAR/EDD GUMBAN

THE BANGKO Sentral ng Pilipinas (BSP) is expected to remain hawkish for the rest of the year, bringing the policy rate to 4.5% by the end of the year, Fitch Solutions Country Risk & Research said.

“A combination of strong economic growth and an elevated inflationary backdrop will prompt the BSP to remain hawkish in our view,” Fitch Solutions said in an Aug. 19 note.

The BSP last week raised its benchmark policy rate by 50 basis points (bps), bringing it to 3.75%. Rates on the overnight deposit and lending facilities were also hiked by 50 bps to 3.25% and 4.25%, respectively.

“In the accompanying monetary policy statement, the Monetary Board deemed further monetary action to be necessary to anchor inflation expectations and to bring inflation back to its target of 2%-4% over the horizon. As such, we at Fitch Solutions now expect the BSP to hike its policy rate to 4.5% by end-2022, up from our previous forecast of 4.25%,” the think tank said.

Fitch Solutions maintained its average inflation forecast for the Philippines at 5.6% for 2022, slightly above the BSP’s revised 5.4% average inflation forecast.

Headline inflation accelerated to 6.4% year on year in July, the fastest in nearly four years and exceeded the central bank’s 2-4% target band for a fourth straight month. Inflation averaged 4.7% in the first seven months.

Elevated inflation will pave the way for more rate hikes by the BSP, it added.

“Against the backdrop of the ongoing Russia-Ukraine war and adverse weather conditions in several food-producing countries in the region, energy and food prices will continue to be a significant source of upward price pressure in the Philippines,” Fitch Solutions said.

While oil prices have declined recently, the think tank said prices are still higher compared to the 2021 level.

“Our Oil & Gas team forecasts Brent crude oil to average $105 per barrel in 2022, compared to $70.95 per barrel in 2021,” it added.

The Philippine economy is expected to continue its recovery this year. Fitch Solutions earlier raised its gross domestic product (GDP) growth forecast for the Philippines to 6.6% from 6.1% previously.

“We believe that the Philippines’ economic resilience will also provide more room for the central bank to normalize its monetary policy,” it said.

“While we expect growth will likely slow in (second half of 2022) as a result of rising economic headwinds stemming from a softening global economic outlook, tightening monetary conditions, and elevated energy prices, the 2022 economic performance would still be stronger than the 5.6% recorded in 2021.”

The economy expanded by 7.4% in the second quarter, bringing first-half growth to 7.8%.

Tighter global monetary conditions in the coming months will likely exert more depreciatory pressures on the Philippine peso, Fitch Solutions said.

“The Philippine peso has come under significant depreciatory pressure as a result of tightening credit conditions globally. This will likely prompt the BSP to hike rates further in order to safeguard external stability,” it said.

The Philippine peso has depreciated by around 10% against the US dollar year to date.

The US Federal Reserve has hiked its fed fund rate by 225 bps since the start of the year to a target range of 2.25-2.50%. Fitch Solutions sees the Fed hiking by 75 bps more before yearend.

“If the BSP chooses to stand pat in subsequent meetings as the US Fed hikes, real interest rate differential could widen and trigger capital outflows, exacerbating downside volatility for the peso,” it added.

BSP Governor Felipe M. Medalla on Friday said they will respond to the US Federal Reserve’s policy tightening, but does not have to match the magnitude of its rate hikes.

“We will not match them (the Fed) point by point,” Mr. Medalla said, “If they do (raise rates by 75 basis points)… that needs a reaction.”

The Monetary Board is scheduled to meet on Sept. 22. — K.B.Ta-asan

DoTr urged to upgrade, privatize EDSA busway

August 23, 2022 | 12:31 am

edsa-bus-carousel — PHILIPPINE STAR/ MIGUEL DE GUZMAN

THE DEPARTMENT of Transportation (DoTr) is being urged to consider the privatization of the bus system along Epifanio delos Santos Avenue (EDSA), as well as other urban rail systems to help ease the burden of commuters.

The Management Association of the Philippines (MAP) said the DoTr should look into the privatization of the EDSA busway and bus service, and urban commuter rail systems, consisting of the Metro Rail Transit Line 3 (MRT-3), Light Rail Transit Line 2 (LRT-2) and the Philippine National Railway (PNR) commuter lines under a “hybrid mode.”

Under the hybrid mode, the government will provide the infrastructure, while a private concessionaire will operate the service and maintain the facilities under an operate and maintenance (O&M) concession.

“MAP has offered to work with the DoTr and other private sector stakeholders in preparing the terms of reference for the bidding and award of the concessions to ensure a level playing field for all,” the business group said in a statement on Monday.

The recommendation was made by the MAP in a letter sent to Transportation Secretary Jaime J. Bautista.

Also, the MAP said DoTr should focus on a total system upgrade of the EDSA bus system, where commuters face long lines during rush hour.

“The upgrade will complete the EDSA busway, a work-in-progress, scale up its capacity and raise it to the level of global standards to optimize the system to achieve its full potential as a cost-effective, efficient, high-capacity urban mass public transport system commensurate to the high-commuter density of EDSA, and, as well, to ensure long-term sustainability to ably serve its role as the complementary mass transport to the MRT-3,” the business group said.

They asked the DoTr to augment vehicles in the EDSA Bus Carousel, PNR commuter lines, MRT-3 and LRT Lines 1 and 2, to improve the commuters’ experience.

“These lines should have the shortest waiting time (and therefore the shortest queues) for commuters during rush hours,” the MAP said.

Currently, commuters have to endure long lines at EDSA Bus Carousel stations due to the lack of buses. Long queues are also usually seen at the MRT and LRT stations during rush hour due to the volume of commuters.

To upgrade the EDSA busway, the MAP proposed increasing the capacity of station platforms, building more stations, and expediting the construction of donated busway station footbridges.

The DoTr should also address the chokepoints along the EDSA Bus Carousel, provide ease of bus-to-train connectivity, and establish similar busways in commuter-heavy areas in the National Capital Region, they said.

The MAP urged the DoTr to decongest the Ayala station and McKinley Road by providing an alternate route from Bonifacio Global City to the Buendia station, as well as introduce electric commuter buses.

The business group said President Ferdinand R. Marcos, Jr. should issue an executive order to “enjoin all relevant agencies to comply with the National Transport Plan (NTP) of 2017, particularly to prioritize people mobility through public transportation and active mobility, such as walking and biking, by prioritizing the allocation of road space for such purposes.”

“Currently, busway station platforms and sidewalks are very narrow and grossly inadequate as the space required for them were allocated instead to augment private vehicle lanes pursuant to misguided car-oriented road management policy,” the MAP said. — R.M.D.Ochave

Here be dragons: Game of Thrones prequel takes flight today

August 23, 2022 | 12:08 am

THE PREQUEL to the events of Game of Thrones premieres and streams today on HBO GO. But fans of the first series should not expect rehash says the showrunner.

“There’s wish fulfillment for an audience of things they want to see. We’re not here to not give it to them. We’re here to give them the thing that they want — just not the way that they’ve expected. We’re not trying to rehash the past. We’re trying to find something fresh and exciting,” showrunner Miguel Sapochnik said in a featurette video shown during the new series’ launch on Aug. 18 at the SM Mall of Asia Music Hall.

House of the Dragon is a 10-episode series based on George R.R. Martin’s 2018 novel, Fire & Blood. The series is set 200 years before the events of Game of Thrones, the medieval fantasy series that became a cultural phenomenon during its eight-season run.

The events happen in a period of history known as “The Dance of the Dragons,” a conflict that erupts between rival siblings Prince Aegon Targaryen and Princess Rhaenyra Targaryen over the right to sit on the Iron Throne after the demise of their father, Viserys I.

The showrunners are Ryan Condal and Mr. Sapochnik, who directed half-dozen Game of Thrones episodes. The Emmy-winning composer Ramin Djawadi also returns for musical scoring in the series.

“There was this once great day where there were dozens of Targaryen running around and a bunch of dragons and they ruled over Westeros. It was a time of peace and prosperity. And everybody knew that if you mess with the Targaryens, you would get the dragons, so nobody dared to overthrow them,” said Mr. Condal, who is also the show’s executive producer and writer, in the featurette.

“This period of Westeros was a very decadent time. And so, you get to see what the realm looks like before it descends into the detritus and post decadence and war that you see in the original series,” Mr. Condal added.

The first episode begins with King Viserys Targaryen deciding between his dutiful daughter, Princess Rhaenyra, or violent brother Prince Daemon as his successor on the throne.

“For me, the best fiction, the best drama is about characters. House of the Dragon is a story about very flawed human beings capable of love and hate, capable of doing good things, [and] capable of doing monstrous things,” said author Mr. Martin, who is also executive producer of the series.

The show stars Paddy Considine as King Viserys; Matt Smith as Prince Daemon; Emma D’Arcy as Princess Rhaenyra; Tom Glynn-Carney as Prince Aegon; Rhys Ifans as Otto Hightower, the Hand of the King; Olivia Cooke as Alicent Hightower, daughter of the Hand of the King; Steve Toussaint as Corlys Velaryon; and Eve Best as Princess Rhaenys Velaryon, wife to Lord Velaryon.
“I genuinely hope that audiences are open to watching a new chapter in the Game of Thrones saga,” Mr. Sapochnik said.

House of the Dragon streams on HBO Go. — Michelle Anne P. Soliman

Toyota PHL banks on more affordable cars for growth

August 23, 2022 | 12:07 am

CAR manufacturer Toyota Motor Philippines Corp. is banking on its more affordable product offerings for future growth as local vehicle sales approach pre-pandemic levels.

Jose Maria M. Atienza, the company’s senior vice-president and division head for marketing, new mobility, and vehicle logistics, said during an episode of BusinessWorld’s One-on-One online interview series on Monday that the company is eyeing more sales in the lower part of the vehicle consumer market.

“The Philippine market is in the stage of motorization, meaning increasing the vehicle density per population. It is quite linked to the level of the Philippine economy,” Mr. Atienza said.

He added that growth is expected in the lower-end segment of the market “because of our population and what most of the population can afford.”

“By lower-end, we’re saying around P1 million and below,” he said.

“We are in anticipation of that growth in the lower-end segment. We are reinforcing our product line-up in that area. We recently launched the Lite Ace for the affordable commercial vehicle segment,” he said. “On top of that, we also reinforced our line-up with the lower-end models like the Raize, Avanza, and Veloz.”

Mr. Atienza said that the local industry’s sales are approaching pre-pandemic levels, signaling its recovery.

“Based on January to June (2022) sales, the market was around 85% to 90% versus 2019 levels. It is well on its way to recovery. It also shows around 15% to 20% growth from [the] previous year. The market is recovering,” he said.

“For TMPC, we’d like to target the same level as 2019 or pre-pandemic levels. We are looking at 160,000 to 162,000 units sold (this year). We are on our way after [more than] 80,000 units sold from January to June period,” he added.

Meanwhile, Mr. Atienza mentioned that the stronger local adoption of electric vehicles will take some time due to their high cost.

“Recently, those (electric vehicles) being introduced are quite still expensive because of the very expensive technology. It will take some time. Again, we see it as soon as we introduce more affordable vehicles, then it is picking up,” he said.

With this, Mr. Atienza said that the company has been focusing on electrified vehicles or hybrid vehicles to address the high prices of electric vehicles and the availability of charging stations.

“Especially for battery electric vehicles, we need charging stations. That is why we are focusing on hybrid vehicles because it is what we can use and what we need now in the absence of charging stations,” he said.

“We’re happy to note that there is a big increase in electrification, especially for Toyota. We’ve increased our hybrid electric vehicles sales ten-fold from 2019. This is linked to people who were very much conscious with fuel prices,” he added.

Currently, the TMPC’s hybrid offerings include the Corolla Cross hybrid, the Corolla hybrid, the Camry hybrid, and RAV4 hybrid.

Moving forward, Mr. Atienza said that risks being monitored by the company are those that will affect the prices of their vehicle offerings.

“The main risks are all those factors which make the vehicle prices higher than what the people can afford. It can be the foreign exchange rates, it can be the parts costs and additional taxes,” Mr. Atienza said.

Latest data from the Chamber of Automotive Manufacturers of the Philippines, Inc. and Truck Manufacturers Association showed that the local industry has sold 182,687 units as of end-July, up 18.4% from the same period last year.

Of the total, Toyota Philippines accounted for 94,026 units sold, equivalent to a 51.47% market share.

The local industry previously announced that it is targeting to sell 336,000 units this year, up by 17% compared with the 268,488 units sold in 2021. — Revin Mikhael D. Ochave

Most TV critics applaud House of the Dragon, others find it less magical

August 23, 2022 | 12:07 am

LOS ANGELES — The highly anticipated Game of Thrones prequel House of the Dragon received glowing reviews from many television critics on Friday, but still has a lot to prove to others.

Three years ago, the acclaimed HBO series Game of Thrones came to a controversial end that underwhelmed some fans. The new franchise spin-off returns audiences to George R.R. Martin’s fantasy world for a series centered on the bloody civil war within House Targaryen.

House of the Dragon, which arrived on HBO Max on Sunday, scored a 76% positive rating on Rotten Tomatoes, with 124 of 164 reviews applauding the new series.

In the show, a civil war known as the Dance of the Dragons ensues between Princess Rhaenyra Targaryen and her brother Aegon II Targaryen over who takes the throne after the passing of their father, Viserys l.

Lorraine Ali of the Los Angeles Times said the spin-off “recaptures the power, grandeur of the original.”

“This fresh chapter in the saga of the Seven Kingdoms is reverse-engineered to feed into narratives and family trees that are familiar to GoT devotees,” Ms. Ali said.

“It’s best to brace now for the genealogy chatter around Houses Targaryen, Lannister, Velaryon, and Hightower, for theories connecting the future with the past and for ghoulish discussions of which series featured more graphic displays of blood, gore and guts.”

By contrast, Darren Franich of Entertainment Weekly described the opening scene as “the blandest possible orientation, Epic Fantasy for Dummies” and said the good news is that “the beginning is the worst part.”

Other critics had similar qualms with the series not living up to the original Game of Thrones when it comes to characters, plot and overall quality.

Brian Lowry of CNN saw the prequel as a “less-addictive game for an earlier throne” but said it was “not bad.”

“There are dragons aplenty, but it doesn’t produce the sort of character that defined and elevated its predecessor to prestige-TV royalty,” Mr. Lowry wrote. — Reuters

JEN Manila by Shangri-La set to permanently close

August 23, 2022 | 12:06 am

Hotel Jen-Instagram — INSTAGRAM.COM/HOTELJENMANILA

JEN MANILA by Shangri-La in Pasay City will be permanently closed starting on Sept. 1 as part of the redevelopment plan for the property.

New Riviera Hotel Development Corp., the owner of the hotel building located on 3001 Roxas Blvd., announced the closure of the 308-room JEN Manila by Shangri-La in a statement on Monday.

“New Riviera Hotel Development Corp. has decided to close JEN Manila by Shangri-La permanently as part of their redevelopment plans for the property. As a result, with effect from Sept. 1, 2022, the 308-room JEN Manila by Shangri-La will cease operations,” it said.

“The hotel will continue to operate, and honor reservations made up to and including Aug. 31, 2022, after which it will cease operations. The property has operated under the Traders Hotel followed by JEN Manila by Shangri-La brand since 1995,” it added.

According to New Riviera, it is making “every effort” to support all affected colleagues through the transition, including the provision of a “fair compensation package” and extension of healthcare insurance coverage until Dec. 31 this year.

“We would like to thank all our guests, partners, colleagues for their unwavering support over the past 27 years, particularly during the challenging pandemic years. We look forward to extending our trademark Asian hospitality to guests at our four other Shangri-La properties in the Philippines,” it said.

Based on the website of the Philippine Hotel Owners Association, Inc., the four other Shangri-La properties in the country are Edsa Shangri-La Manila, Shangri-La The Fort Manila, Shangri-La Boracay Resort and Spa, and Shangri-La Mactan Resort and Spa.

The Shangri-La Group on Feb. 1 last year temporarily closed its Makati Shangri-La hotel amid the effects of the coronavirus disease 2019 (COVID-19) pandemic. — Revin Mikhael D. Ochave

Severance and its harrowing take on work-life balance

August 23, 2022 | 12:06 am

By Jelica R. Enriquez

IT is Monday morning. You shut off your phone’s alarm. After taking a quick shower, you grab last night’s leftovers as baon (packed lunch). You leave earlier than usual to beat the rush hour. Dealing with a cranky client is your first agenda of the day. As you sift through your e-mails, you think of your monthly bills and loan payments. At six o’clock, you head home. You have your dinner after taking a shower. Feeling exhausted, you go to bed — only to realize that you will do it all over again the next morning.

Now imagine the possibility of separating your personal life from your work life.

When you reach the elevator at your office, you forget your outside identity. You do not recall your bills, family issues, or failed relationships. Your sole task is to work for the next eight hours. By the time you alight the elevator at the end of the day, you remember who you are. But you do not recall what you do at work, your cranky client, and whom you work with.

If you are given a choice to separate your personal life from your work life, would you do it?

Such a scenario is the premise of Apple TV+’s dystopian mystery series, Severance. The Emmy-nominated series tells a gripping tale about the fictitious Lumon Industries, a powerful biotech company that offers its employees an opportunity to undergo “severance”: a surgical procedure that divides an employee’s personal memories from his work memories. “Severed” employees are paid generously to participate in this monumental albeit controversial endeavor.

Mark, the protagonist of the series, voluntarily signed up for Lumon’s severance program to overcome his wife’s fatal car accident. We see Mark crying in his car as he remembers his wife’s death in the pilot episode. But as soon as he steps inside the elevator at the office, his face chillingly transforms from a sorrowful husband to an aloof corporate staffer.

The first part of the series sheds light on Mark’s inability to achieve work-life balance. In literature, work-life balance has emerged as an important factor in the overall well-being of an employee. Researchers describe work-life balance as: 1.) managing one’s role in work and nonwork life, and, 2.) ensuring that there is no overlapping of the two roles. Employees who achieve work-life balance tend to be more productive.

According to the Talent Trends 2022 Report, more than half of the Filipino employee respondents chose better work-life balance over higher pay and or promotion. As companies transitioned to a work-from-home set-up because of the COVID-19 pandemic, the line between professional and personal lives has become fuzzy. The number of office group chats has increased, lengthy online meetings have become prevalent, and receiving e-mails on a Sunday has become the norm.

My former company advocated for work-life balance. The term was repeatedly highlighted in news announcements and town hall meetings. Work-life balance posters were plastered at the office. And yet, my teammates and I would find ourselves going to the office on holidays or working long hours to meet our client’s expectations. Taking a break on a weekend was just a figment of our imagination.

If I were given a chance to undergo “severance” while I was still part of that company, I would probably volunteer.

In this regard, I understand why the series’ protagonists will undergo a bizarre procedure. Their options to cope with their personal and work issues are limited.

Severance can be considered as an existential horror TV series not because of its peculiar characters, its eerie soundtrack, or its claustrophobic office scenes. What makes it terrifying is the likelihood that it can actually happen in real life. Greed-driven companies can produce human robot slaves under the guise of a work-life balance option.

But it should not be the case. Organizations are obliged to provide ethical work-life balance programs. Managers should set healthy boundaries between professional life and personal life. Employees should not undergo drastic procedures to be productive at work. Employees are expected to be professionals, and they have the right to take some time off on non-work days.

As the saying goes, there is more to life than our work.

Jelica R. Enriquez is an assistant professor and program coordinator of the Business Intelligence and Analytics Program under the School of Management and Information Technology in De La Salle-College of Saint Benilde (DLS-CSB). She teaches undergraduate-level courses in business process analysis, I.T. methodologies, and applied statistics. She has a master’s degree in Business Administration from the De La Salle University where she is currently a doctoral student and research intern. Before joining the academe, she worked as a bank marketing associate and software engineer.

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The views expressed above are the author’s and do not necessarily reflect the official position of DLS-CSB, DLSU, its faculty, and administrators.

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