Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 6052

Value of region’s private equity deals reach $25B

THE private equity market deal value in Southeast Asia more than doubled to $25 billion in 2021, signaling strong investment growth in the region, according to consulting firm Bain & Co.

“The previous year had seen a significant slowdown, with the market recording the largest fall across all Asia-Pacific (APAC) region markets due to travel restrictions hampering deal-making and diligence processes, but the progressive ‘opening-up’ of countries in the second half of 2021 helped drive a rebound in deal value,” Bain & Co. said in a statement on Tuesday.

In its 2022 annual Southeast Asia Private Equity report, it placed the 2020 comparative figure at $10 billion.

Usman Akhtar, Bain & Co. partner and head of Southeast Asia private equity practice, said that the region as a whole in 2021.

“Southeast Asia as a region has bounced back strongly from the COVID-19 (coronavirus disease 2019) impacted year in 2020, with the 2021 activity level showing that investors were keen to make up for lost time,” Mr. Akhtar said.

“While private equity (PE) investors continue to believe they can get strong returns in the region over the next 3-5 years, we also see them putting more emphasis on topline growth and operational improvements as expectations of multiple expansion become relatively muted,” he added.

According to Bain & Co., the APAC consists of over a quarter of the global PE market in 2021 following the increased deal volume in the Southeast Asia region.

It added that growth and early-stage investments surged in 2021, while growth deals remained the dominant deal type and contributed 77% of Southeast Asia’s deal value.

“Five megadeals accounted for 33% of total deal value, which grew 143% compared with 2020. The influx of capital from e-commerce, logistics and technology deals meant that Singapore, Indonesia and Vietnam saw a strong jump in their share of deal value and count, with further potential to climb moving forward, given the presence of sought-after tech companies and vibrant startup economy in these markets,” Bain & Co. said.

“Exit value in Southeast Asia more than doubled what it was in 2020, though it still is not at full potential [as] it remains below the average from 2016-2020. Much of the growth was driven by Singapore, particularly as maturing tech companies such as Grab debuted in the public markets,” it added.

Bain & Co. said the internet and technology sectors continued to contribute the lion’s share of deal volume and value across the Asia-Pacific PE landscape.

However, it mentioned that healthcare and financial services are starting to get bigger shares as investment targets after contributing 18% and 9% of overall deal count, respectively.

“Investors globally and especially in Southeast Asia are rightly concerned about finding the right opportunities to invest in amid the increased competition from global and local funds,” said Suvir Varma, senior advisor to Bain & Co. global private equity practice. 

“Given the competitive intensity, funds would do well to have defined themes around which they wish to deploy capital, a clear investment thesis for each asset, and a prepared action plan to intervene should the macro conditions turn against them,” he added.

Meanwhile, Bain & Co. said the key themes to observe in 2022 include strong interest in digital assets and consumer products, surge in digital healthcare, shift to environmental, social, and corporate governance (ESG), calibrated valuation expectations, and continued appeal of young and digitizing population.

“While firms are understandably eager to capture these next waves of growth, long-term success will be achieved by those who pay more attention to their core investment themes and diligence, particularly in ESG integration as increasing pressures for businesses to take steps in climate action, diversity, equity and inclusion has caused a definite and enduring shift in the industry’s investment approach,” said Tom Kidd, partner in Bain & Co.’s Southeast Asia private equity practice.

“The economic growth that could be added to Southeast Asia from a number of exciting sectors is still substantial,” he added. — Revin Mikhael D. Ochave

Test, test, test? Scientists question costly mass COVID checks

BLOOMBERG

COPENHAGEN/LONDON — For many people worldwide, having cotton swabs thrust up their nose or down their throat to test for coronavirus disease 2019 (COVID-19) has become a routine and familiar annoyance.

But two years into the pandemic, health officials in some countries are questioning the merits of repeated, mass testing when it comes to containing infections, particularly considering the billions it costs.

Chief among them is Denmark, which championed one of the world’s most prolific COVID testing regimes early on. Lawmakers are now demanding a close study of whether that policy was effective.

“We’ve tested so much more than other countries that we might have overdone it,” said Jens Lundgren, professor of infectious diseases at Rigshospitalet, University of Copenhagen, and member of the government’s COVID advisory group.

Japan avoided large-scale testing and yet weathered the pandemic relatively well, based on infection and death rates. Other countries, including Britain and Spain, have scaled back testing.

Yet repeated testing of entire cities remains a central part of the “zero-COVID” plan in China, where leaders have threatened action against critics.

“We need to learn, and no one did it perfectly,” said Dale Fisher, chair of the Global Outbreak Alert and Response Network of the World Health Organization (WHO).

The WHO urged countries to “test, test, test” all suspected cases after the coronavirus was first identified. Global surveillance helped scientists understand the risk of severe illness or death, as well as the risk of transmission.

Now, with the dominance of the relatively milder Omicron variant and the availability of vaccines and more effective treatments, governments should consider more strategic policies, such as population sampling, experts said.

Pulling back too drastically, however, could leave the world blind to a still-changing virus, some officials said.

SIGNIFICANT COSTS
WHO guidelines have never recommended mass screening of asymptomatic individuals — as is currently happening in China — because of the costs involved and the lack of data on its effectiveness.

Denmark ultimately recorded similar case numbers and death rates as other countries with less widespread testing. This has prompted a majority of parties in parliament to call for an investigation into the strategy.

In the last two years, Denmark’s population of 5.8 million logged more than 127 million rapid and PCR tests, all provided free. In total, Denmark spent more than 16 billion crowns ($2.36 billion) on testing, according to the Danish Critical Supply Agency.

Neighboring Norway, with a similar population size, only performed 11 million PCR tests, while Sweden, home to nearly twice as many people, completed around 18 million, according to Our World in Data.

Christine Stabell Benn, professor of global health at University of Southern Denmark, said Denmark’s strategy was expensive and results “undocumented.”

“The mass testing approach took away the focus from testing where it really matters: among the vulnerable.”

Other experts — and the Danish government — said widespread testing reduced the transmission rate and helped people re-enter society, boosting the economy and their own mental health. The economy took a relatively milder hit than other European countries, according to a government report released in September.

“There is no doubt that the human and economic costs of, for example, an extensive lockdown, as we have seen in many other countries, would be greater,” Justice Minister Nick Haekkerup told Reuters in an e-mail.

EVIDENCE
One Danish study published last year concluded that the testing program and subsequent isolation of confirmed cases helped reduce transmission by up to 25%.

Other disease experts question such estimates. A review published in Medical Virology in late March on the use of rapid tests for people without symptoms in mass screening initiatives found “uncertainty” over their impact.

“The claim was that (mass testing) would stop the pandemic in its tracks, and that it would cut transmission by 90%. And it hasn’t,” said Angela Raffle, a senior lecturer at Bristol University Medical School, who has worked with the UK’s National Screening Committee.

There are several possible explanations why testing did not yield a bigger benefit, including an over-ambitious target and the fact that the tests were imperfect. Plus many people either did not or could not isolate after testing positive: a review in the British Medical Journal, pre-Omicron, found that only 42.5% of such cases stayed home for the entire isolation period.

In England, free COVID tests are now only available for government healthcare workers, those with certain health conditions and people entering hospital. Others, even with symptoms, have to pay for tests or are simply advised to stay at home until they feel better.

Some global health experts say such a pullback goes too far.

“In some settings, because politicians have decided to ‘move on’ and dismantle all public health, testing has been deliberately reduced or made harder to access,” said Madhu Pai, a global health professor at McGill University in Canada.

“This will be disastrous, because we will be completely caught off guard if a more dangerous variant emerges.” — Reuters

The Virgin Labfest returns to the stage

AFTER two years of online performances, the 17th Virgin Labfest (VLF) — the theater festival of untried, untested, and unstaged plays — returns to the Cultural Center of the Philippines’ Tanghalang Huseng Batute stage from June 16 to 26.

It will be followed by an online screening of the plays from June 30 to July 10 at ticket2me.net.

This year’s festival takes on the theme “Hinga” (Breath) for 2022, under the leadership of new festival directors Marco Viaña and Tess Jamias.

The theme takes on the idea of “inviting the people to come back and share the space with us,” Ms. Jamias said in a Zoom interview with BusinessWorld.

“We were playing with the concept of ‘buhay’ kasi gusto naming tutukan ’yung for the past two years hindi natin na-experience mabuhay [onstage]. So, itong pagbabalik sa entablado, gusto natin ulit maranasang mabuhay sa pagtatanghal (We were playing with the concept of ‘life’ because we wanted to focus on the two years of no experience of life onstage. So, for the comeback onstage, we want to rekindle life in performing),” Mr. Viaña said of this year’s theme.

The festival is co-presented by the Cultural Center of the Philippines (CCP), Writer’s Bloc, Inc., and CCP’s resident theater company, Tanghalang Pilipino, in support of young artists and playwrights and the stage production industry.

Unlike the previous physical iterations of the festival which showcased various sets of one-act plays in two theaters in a day, this year just one set is scheduled to be performed twice a day as a safety precaution to avoid cross contamination as the coronavirus disease 2019 (COVID-19) pandemic is still not over.

The 12 featured plays are divided into four sets — Set A to Set D — with performances scheduled at 2 and 7 p.m.

The plays under “Set A: Life is Full of Surprises” (June 16 and 25) are: Walang Bago sa Dulang Ito by Eljay Castro Deldoc, Mga Balo by Maki dela Rosa, and Bituing Marikit by Bibeth Orteza.

Under “Set B: Life is Strange Fiction” (June 17 and 26), the plays are: Absurdo Events Day by BJ Crisostomo, Liberation by Jerry O’Hara, and Nay May Dala Akong Pansit by Juan Ekis.

“Set C: School of Life” (June 18 and 23) features Unica Hijas by Mikaela Regis, Punks Not Dead by Andrew Clete, and Student’s Handbook by Anthony Kim Vergara.

“Set D: Life Choices” (June 19 and 24) features Fermata by Dustin Celestino, Huling Haraya Nina Ischia at Emeteria by Ryan Machado, and Bienvenuta al lido De Venecia by George Vail Kabristante.

“The actors are coming in very hungry to perform. We have young designers coming in also excited to [again] work in the physical space of a theater,” Ms. Jamias said.

Over the past two years, online streaming has enabled the VLF to reach a wider audience. For this iteration, the plays will be streamed on June 30 to July 3 and July 7 to 10.

“We know that not all audiences are confident to watch onsite [because of the pandemic]. So, we thought that it is important to partner with streaming platforms to reach a wider audience,” Mr. Viaña said.

FORUMS, THE FELLOWSHIP SHOWCASE
This year’s new component is Theater Talks, a three-episode forum series on creative and production processes in theater and performance. It will stream on June 20, 21, and 22 (8 p.m.) on the CCP and VLF Facebook pages.

The Playwright’s Fair with VLF artistic director Rody Vera, and the CCP Intertextual Division will be held on June 17, 18, 24, and 25, 5 p.m. at the Tanghalang Manuel Conde (CCP Dream Theater) with online streaming at the CCP and VLF Facebook pages.

The Writing Fellowship Program showcase, under the mentorship of award-winning playwright Glenn Mas and directed by Dennis Marasigan, is scheduled for June 26, 5 p.m., at the CCP Promenade.

With the return to physical theater this year, the festival directors look forward to what they have missed the most: the live audience.

“We look forward to being in the same space where the audience is, where you can hear their laughter and also feel their emotions with you,” Ms. Jamias said.

“Ang teatro o ang sining ay hanging nagbibigay buhay sa atin (Theater or the arts is the air that gives us life),” Mr. Viaña said.

For tickets to Virgin Labfest 17: Hinga, visit TicketWorld at http://ticketworld.com.ph/ and the CCP Box Office. For online purchase concerns, contact the TicketWorld customer service hotlines at 8891-9999, 0917-550-6997 (Globe), and 0999-954-5922 (Smart). For more information, visit www.facebook.com/thevirginlabfest. For details on the new normal protocols at the CCP, visit bit.ly/CCPNewNormalProtocol. — Michelle Anne P. Soliman

Treasury bills partially awarded as rates increase

BW FILE PHOTO

THE GOVERNMENT partially awarded the Treasury bills (T-bills) it offered on Tuesday as yields continued to rise due to higher-than-expected inflation, which fueled expectations of an earlier rate hike from the Bangko Sentral ng Pilipinas (BSP).

The Bureau of the Treasury (BTr) only awarded P5 billion in T-bills at its auction on Tuesday even as total tenders reached P19.984 billion, slightly over the P15-billion program.

The government raised P5 billion as planned via the 91-day securities as bids reached P9.009 billion. The average rate of the tenor climbed by 25.9 basis points (bps) to 1.531% from 1.272% last week.

Meanwhile, the BTr rejected all offers for 182-day T-bills even as tenders reached P6.4 billion versus the P5-billion program. Had the government made a full award, the average rate of the six-month paper would have soared by 53 bps to 2.165% from the 1.635% fetched at the previous auction.

The government likewise did not award any 364-day debt despite demand for the tenor reaching P8.602 billion against the P5-billion offer. If the BTr had made a full award, the average rate of the one-year T-bill would have climbed by 39.6 bps to 2.329% from the 1.933% quoted last week.

At the secondary market prior to the auction, the 91-, 182, and 364-day T-bills fetched rates of 1.2616%, 1.6243%, and 1.9823% respectively, based on the PHP Bloomberg Valuation Reference Rates published on the Philippine Dealing System’s website.

National Treasurer Rosalia V. de Leon said in a Viber message to reporters that the partial award was due to April inflation data that “continues to dampen market sentiment.”

The first trader said markets remained defensive “given hawkish [US Federal Reserve] guidance and possibility of a hike in next week’s Monetary Board meeting,” due to higher-than-expected inflation in April.

“GDP [data] is about to be released for the week and that may solidify chances of BSP hike sooner rather than later,” the second trader added.

Inflation surged to an annual 4.9% in April, the highest in more than three years as soaring food and energy prices continued to hurt consumers. This could bolster the case for the BSP to tighten monetary policy earlier than expected.

Consumer prices rose to a 40-month high of 4.9% annually, from 4% in March and 4.1% in April a year ago, preliminary data from the Philippine Statistics Authority released last week showed.

It was the quickest pace since the 5.2% print in December 2018, and higher than the 4.6% median estimate in a BusinessWorld poll.

The headline figure also breached the central bank’s 2-4% target for the year and was near the upper bound of its 4.2-5% forecast for April.

The last time inflation went above the target was in September 2021 when it rose by 4.2%.

Inflation averaged 3.7% in the four months to April, lower than the 4.1% seen in the same period last year. However, it was still lower than the central bank’s 4.3% forecast for the year.

BSP Governor Benjamin E. Diokno said last month they will consider a rate hike in their June 23 review, more hawkish compared with his earlier statements that the central bank will only start normalizing its pandemic-driven easy policy by the second half of the year. Benchmark rates have been at record lows since 2020.

Meanwhile, the Fed last week raised rates by 50 bps. Atlanta Fed President Raphael Bostic said the US central bank can stick to half-point interest rate hikes for the next two to three meetings and assess the economy and inflation before deciding if further increases are needed, Reuters reported.

The BTr wants to raise P200 billion from the domestic market in May, or P60 billion via T-bills and P140 billion through Treasury bonds.

The government borrows from local and external sources to help fund a budget deficit capped at 7.7% of gross domestic product this year. — T.J. Tomas with Reuters

UP survives Eya Laure; UST to remain unbeaten

UP Figthing Maroons’ Jewel Encarnacion — THE UAAP

By John Bryan Ulanday

TAKING inspiration from its counterpart in men’s basketball, the spirited University of the Philippines (UP) spoiled Eya Laure’s eruption for University of Santo Tomas (UST) with a 25-21, 23-25, 25-21, 25-22 win to stay unbeaten in the UAAP Season 84 women’s volleyball tournament at Mall of Asia Arena in Pasay City on Tuesday.

Jewel Encarnacion flashed an all-around brilliance of 16 points, 14 excellent receptions and 11 digs as the Fighting Maroons improved to 3-0 for their best start since Season 79.

Alyssa Bertolano added 15 markers on 10 attacks, three blocks and two aces while Niña Ytang, Lorie Bernardo and Jaila Atienza had nine each in UP’s scattered attack.

“It was not an easy game. UST is a very strong team. They are very experienced and they have a good coaching staff who would know how to read a game. So, it’s a win, yes, but it wasn’t easy for us. We really worked hard for this and I hope the girls will continue fighting the same way,” said coach Godfrey Okumu.

UP previously defeated University of the East (UE), 25-19, 25-23, 25-23, and Far Eastern University (FEU), 25-12, 25-22, 24-26, 27-29, 15-11, for a hot start as the tournament’s dark horse.

In the second match, Chenie Tagaod sizzled for 20 points as FEU barged into the win column with a close 19-25, 25-15, 25-20, 17-25, 15-10 win over UE in the battle of listless squads.

Ms. Laure exploded for 28 markers on 25 attacks that went down the drain in the first defeat of Santo Tomas (2-1), which did not drop a single set in their first two wins against FEU and UE.

The Lady Warriors remained winless in three matches despite the efforts of Janeca Lana (20) and Ercae Nieva (19).

Women with back pain delay looking for help more than men — survey

UNSPLASH

By Brontë H. Lacsamana, Reporter

AXIAL spondyloarthritis (axSpA), a chronic illness characterized by frequent and persistent back pain that can render one immobile, must be diagnosed early in order to lessen its functional, psychosocial, and economic burden on Filipinos, according to the 2022 Philippine Map of Axial Spondyloarthritis (PMAS).  

The study surveyed 128 adult axSpA patients from July to October 2021 and found that Filipinos with axSpA are diagnosed, on average, 5.8 years after developing symptoms.

“With these new data, we hope to improve the quality of care, access to treatment, and eventually health outcomes for our patients with axSpA,” said Dr. Bernadette Heizel M. Reyes, PMAS principal investigator and University of the Philippines-Philippine General Hospital rheumatology professor, at the launch of the survey results.

Women with axSpA have a more significant delay in diagnosis, she said. The survey found that it takes 6.5 years for Filipina patients to be diagnosed due to the misconception that axSpA is a male-specific disease.

“For women, more common medical conditions are considered before a diagnosis of axSpA is made,” said Dr. Reyes.

Since it’s a chronic inflammatory disease that mainly affects the spine, symptoms manifest as debilitating back pain, stiffness, and fatigue of the pelvis and lower back. AxSpA occurs in about 1% of the global population.

Dr. Juan Javier Lichauco, president of the Philippine Rheumatology Association (PRA), said that awareness is key to shortening diagnostic delay of the disease.

Awareness campaigns include Got Ur Back by the Axial Spondylarthritis Association of the Philippines (ASAPh) and Novartis’ mobile app Clarrio that supports patients with axSpA.

COMORBIDITIES
Conducted by the PRA and ASAPh, the PMAS survey is the first comprehensive study of patients with axSpA in the Philippines, following the footsteps of the International Map of Axial Spondyloarthritis (IMAS) that was done a year prior.

The Filipino respondents, aged between 18 and 77 years, are mostly male (76.6%). Three in four complain of spinal stiffness, which leads to much difficulty doing routine daily tasks like tying shoelaces.

As for comorbidities, 44.3% are overweight or obese, 35.6% have hypertension, 33.6% have uveitis or eye inflammation, and 28.2% have high cholesterol.

“Knowing the comorbidities is important. For example, with uveitis that affects the eyes — even if the symptoms are just slight, we doctors must work hard to investigate this,” Dr. Reyes said.

Many respondents also reported issues related to mental health that affected their productivity, namely sleep problems (28%), anxiety (25.9%) and depression (25%).

“AxSpA usually affects young adults who are at the early stages of their professional career. The activities that we once enjoyed doing can no longer be done. We often lose our jobs or our options are limited because of our decreased mobility,” said ASAPh president Clark B. Ferrer, an engineer who has had the disease for 21 years.

RHEUMATOLOGISTS
Mr. Ferrer also pointed out the need for more rheumatologists around the country.

“The lack of access to rheumatologists and treatments, especially outside of the National Capital Region, really affects our finances,” he said.

Access must be improved, Dr. Reyes agreed, citing PMAS data that showed 75.8% of respondents were diagnosed by rheumatologists while the rest were diagnosed by orthopedic specialists. Before diagnosis, multiple consultations had to be done.

Nearly half of the survey respondents were from the National Capital Region and nearby regions (45.4%), with the rest hailing from elsewhere.

PRA’s Dr. Lichauco said: “There are only 240 rheumatologists in the entire country. We clearly need to train more.”

This goes for general practitioners as well, since the survey revealed that patients also consulted them many times for diagnosis and/or treatment along with rheumatologists.

“We can still do better by educating and collaborating with primary care physicians and specialists to further shorten the time to diagnosis. In addition, the PMAS study can enhance the patient-physician relationship,” he said.

Specialists to further involve in axSpA include ophthalmologists, gastroenterologists, and rehabilitation specialists, as they all address comorbidities.

SBS swings to P27-M profit on business units’ higher sales

CHEMICALS distributor SBS Philippines Corp. (SBS) realized a net income of P27.4 million in the first quarter, reversing the P20.8-million loss in the similar period a year before, driven by higher sales from its business segments.

“SBS achieved sales growth across all segments particularly the business recovery of the industrial and the feed and veterinary segments from the challenges in 2021,” Necisto Y. Sytengco II, SBS vice-chairperson and senior vice-president for sales and marketing operations, said in a statement on Tuesday.

“Our wide product portfolio, reliable inventory, and efficient supply chain allow SBS to serve our customers’ requirements timely despite the global logistic disruption that affects many of our peers in the market,” he added.

In the first quarter, net sales were up 66% to P288.7 million. Operating profit on a consolidated basis also grew by 90%, driven by increase in sales volume and selling prices.

“This strengthened our position as the preferred one-stop shop supplier of chemical raw materials in the country,” Mr. Sytengco said.

SBS is a chemical trader-distributor with over 3,000 chemical products sourced from more than 500 suppliers. It serves clients from various industries, including food ingredients, industrial, feeds and veterinary care, pharmaceutical, and personal care and cosmetics.

The company owns a network of 15 warehouse facilities located at five different sites in Manila and Bulacan, providing for a combined floor space of about 46,000 square meters and a storage capacity exceeding 18,000 metric tons.

On Tuesday, company shares remained unchanged at P3.93 at the stock exchange. — Luisa Maria Jacinta C. Jocson

Arts & Culture (05/11/22)

Art installations from Kristine Lim Jonathan Manalo UGOY

UGOY installation at Intramuros on view

VISUAL ARTIST Kristine Lim mounts her third art installation in Intramuros, Manila titled UGOY. Set up in time for Mother’s Day and the election season, Ms. Lim made 18 cradle nests which are found in the grounds of Intramuros, Manila. The installation is mounted with a composition by Jonathan Manalo, the Creative Director of ABS-CBN Star Music. It is on view at Fort Santiago, Intramuros, Manila until May 31.

PETA Theater workshops offered

THE PHILIPPINE Educational Theater Association (PETA) is offering an online Creative Summer Program for teens and adults. Courses are scheduled from May 23 to June 10. To register, visit www.bit.ly/PETAWorkshopTeensAndAdults. For more information, visit https://www.facebook.com/PETATHEATER.

Ramon Magsaysay Awards collaborates with Linya-Linya

INSPIRED by 2021 Ramon Magsaysay Awardee Watchdoc, the Ramon Magsaysay Award Foundation (RMAF) has teamed up with homegrown Filipino brand Linya-Linya on limited edition statement shirts to promote their advocacy for truth-telling in media. The shirt printed with the statement: “I Stand for Truth-telling in Media” is priced at P799. To order, visit https://www.linyalinya.ph/collections/rmaf/products/linya-linya-x-ramon-magsaysay-award-foundation-truth-telling-in-media.

CCP celebrates Amorsolo with Lego exhibit

TO commemorate the 50th anniversary of the proclamation of Fernando C. Amorsolo as the First National Artist of the Philippines in Visual Arts, the Cultural Center of the Philippines (CCP), in partnership with PinoyLUG, and with support from the Fernando C. Amorsolo Foundation, Inc., presents Project AMORsolo, an exhibition of Lego Bricks Mosaic artworks. The exhibit is on view until May 29 at the CCP’s Bulwagang Carlos V. Francisco (Little Theater Lobby). The project, which commenced in 2021, was set into motion under Code Name: AMOR with three teams of Lego enthusiasts working separately on plates for three iconic Amorsolo paintings. For more information, contact the CCP Visual Art and Museum Division, Production and Exhibition Department, at e-mail vamd@culturalcenter.gov.ph or through social media pages www.facebook.com/ccpvamd, www.instagram.com/ccpvamd, www.twitter.com/ccpvamd.

Instituto Cervantes launches poetry recital

IN the First Online Recital of Hispano-Filipino Poetry, Instituto Cervantes de Manila brought together more than 100 poetry lovers who recited verses written in Spanish by Filipino poets. All the recorded recitations were compiled in a video that will be published on the Youtube channel (https://www.youtube.com/InstitutoCervantesManila) and Facebook page (www.facebook.com/InstitutoCervantesManila) of the Instituto Cervantes on May 11, 7 p.m. The recordings were part of its Día del Libro celebrations, a Spanish tradition where books and roses are exchanged and which Instituto Cervantes brought to Manila in 2006 where it has been regularly celebrated since. The selection of poems recited included “Canto de María Clara” by Jose Rizal, “Señorita provinciana” by Jesus Balmori, “Boceto” by Evangelina Guerrero, as well as contemporary poems “Seguir viviendo” by Guillermo Gomez Rivera and “Saudade” by Daisy Lopez, both of whom inaugurated the recitation of their respective poems. As a preview, here is the video of the poem “El canto de María Clara” by José Rizal: https://www.youtube.com/watch?v=l8F3vzanvJU.

Silverlens to hold Esquillo, Eustaquio exhibits

SILVERLENS will open two exhibits on May 19. They will both run until June 18. The first is “Bread and Circuses” by Alfredo Esquillo which reclaims the said phrase from a Roman writer about the two things that the Roman Emperor distracted the populace with to keep them happy — a full stomach and staging huge spectacles at the coliseum. He compares the Roman Empire to Philippine modern society since the 1970s to the current affairs surrounding us. Through paintings and sculptures, Mr. Esquillo reflects deeply, as he artistically essays recurring signs and symbols concerning politics, culture, and technology — in relation to misappropriated policies of our past and incumbent presidents — as we have been endowed with short memories of the past. The second is a new show by Patricia Perez Eustaquio of soft fabric sculptures and drawings on paper where the artist continues to dissect the binary oppositions found in the process of translation from one form to another. For this series, Ms. Perez takes portions from her digital loom tapestries and renders them in graphite as archipelagic fragments seemingly adrift on taupe, salmon, and gray paper. The use of colored paper and the compressed quality in the drawings are marked changes from her previous work where pig’s flesh, wilted flowers, or studio scraps were traced in sprawling and languid detail as if they were landscapes. Silverlens Galleries is at 2263 Don Chino Roces Ave. Ext., Makati. The gallery also announced that it has a new platform @silverlensgallery. “Turning a new leaf on Instagram, we seek to highlight a wide range of practices and expressions within contemporary fine art,” it said in a release.

Korean cultural center unveils mural

AFTER the Korean Culture and Information Service (KOCIS)’s Korean Cultural Center in the Philippines (KCC) opened its doors to the public on March 25, it also unveiled its resolution to promote the cultural exchange between Korea and the Philippines. In partnership with Metropolitan Museum, the KCC had mural artist Jappy Agoncillo create a mural that showcases the culture collaboration of Korea and the Philippines. Mr. Agoncillo wanted to incorporate the similarities and friendship of Filipinos and Koreans, and as thus, included national symbols from both countries. “For the color palette, I really want to look at the Korean traditional elements and colors, especially the palace colors. I really want to have those strong colors represent[ed] in the mural,” he said in a statement.

Dance Surge 5 goes virtual

THE FIFTH edition of Dance Surge, an interactive dance weekend, will comprise of a series of virtual workshops and masterclasses, culminating in an online inter-high school freestyle battle. Hosted by the Saint Benilde Romançon Dance Company (SBRDC), it aims to make young movers experience the digital space of freestyle dancing as well as showcase and share their talents and techniques. Resident dancers, alumni, and choreographers from SBRDC-Hip Hop and Contemporary will impart their tricks and techniques, steps and special moves. Sofia Montinola, a classical ballet, hip hop and street jazz dancer, will facilitate free classes on contemporary dance. Meanwhile, Merwin Sampana will spearhead free sessions on choreography. Masterclasses will be guided by industry professionals. The highlight is the Inter-High-School Freestyle Battle of different dance troupes within and outside of Metro Manila. Dance Surge 5 will run from May 20 to 22. Interested participants may visit the official Facebook page of SBDC for more information.

Online transactions via LANDBANK rise 22% in Q1

THE VALUE of online transactions done with Land Bank of the Philippines (LANDBANK) increased in the first quarter, driven by the rising demand for digital services.

The state-run bank facilitated a total of 39.14 million transactions amounting to P567.61 billion in the first three months of the year, LANDBANK said in a statement on Tuesday.

This translated to a 36% year-on-year growth in volume and a 22% rise in the value of transactions.

These transactions included mobile banking, government disbursement, retail banking, institutional banking, and bulk credit, LANDBANK said.

Broken down, the lender’s mobile banking app recorded 29.75 million transactions worth P47.18 billion for the first quarter of the year, 37% higher in terms of volume and a 46% growth in value.

Meanwhile, the bank’s corporate internet banking platform weAccess logged over six million transactions worth P143.19 billion in the first quarter, which translated to increases of 37% and 25% in volume and value, respectively.

LANDBANK’s web-based payment facility, Link.BizPortal, facilitated around 1.38 million transactions equivalent to a 42% increase from the first quarter of last year. Total value rose by 58% to P3.41 billion.

Transaction value in its online retail banking channel, or iAccess, jumped by 26% to P4.46 billion from P3.55 billion in the same period in 2021.

On the other hand, the value of transactions on LANDBANK’s electronic modified disbursement system rose by 18% year on year to P368.06 billion in the three-month period.

“LANDBANK’s digital transformation is geared towards providing accessible financial services to meet the growing needs of our customers. We are also driven towards greater digital adoption to advance financial inclusion in the country, in line with our expanded mandate of serving the nation,” said LANDBANK President and Chief Executive Officer Cecilia C. Borromeo.

Ms. Borromeo reminded customers to remain vigilant against online banking fraud and scams.

“With the continuous increase in the use of digital banking channels, the state-run bank assures its customers that it maintains the highest level of security in all its systems,” she added.

LANDBANK’s net income in the first three months of 2022 soared by 141% year on year to P13.2 billion from P5.48 billion due to a one-time gain following its merger with United Coconut Planters Bank as well as higher interest income from loans and investments. — Keisha B. Ta-asan

San Beda Lions battle Mapua Cardinals for NCAA final slot

SAN Beda guns for its 15th straight finals appearance while Mapua its first in 31 years as they battle each other in a knockout game on Wednesday in the 97th National Collegiate Athletic Association (NCAA) basketball tournament at the Filoil Flying V Arena.

Facing the specter of being eliminated from final contention for the first time in 15 seasons, the Lions clawed their way back from a 10-point deficit in the fourth quarter of regulation and eked out a life-saving 73-67 overtime win on Sunday to force a deciding game at 3 p.m.

Defending champion Letran claimed the first seat following a 77-75 win over Perpetual Help and awaits the winner of this showdown in the best-of-three championship series unfurling on Sunday also in San Juan.

James Kwekuteye returned from an ankle injury he suffered late in a play-in win over College of St. Benilde last week and uncorked a team-best 17 points while Jacob Cortez and Ralph Penuela came through with 13 points apiece.

The triumph put the Mendiola-based dribblers in the hunt for a place in the finals for the 15th season in row and a chance at a 12th crown during that span.

“It will be a tough game,” said San Beda coach Boyet Fernandez. “We believe that if we can step up our defense and challenging their three-point shooting and for us to play as a team on offense, we believe we have a chance to win.”

For the second-seeded Cardinals, they have a chance to save the series and clinch a finals spot for the first time since making it that far and completing a back-to-back title romp in 1991 with a triumph.

And Mapua almost did it with defense the last time as it held San Beda to just 33 points in the first three quarters including single-digit outputs in the first (six) and third quarter (eight).

But the Cardinals allowed the Lions to explode for 40 points from there, including 27 in the final period and 13 in OT, that proved costly. — Joey Villar

To control asthma, practice breathing

PIXABAY

ONE in 11 Filipinos have asthma, a chronic lung condition in which the airways swell and narrow. Knowing one’s triggers and proper breathing technique can prevent symptoms such as shortness of breath, wheezing upon inhalation, or chest tightness.

“It’s the swelling that gives rise to the symptoms,” said Dr. Jonray R. Magallanes, an adult pulmonologist. “Parang sinasakal [It’s like you’re being choked]; that’s how patients describe it.”

The secret to managing asthma, he said, is to know how to breathe properly through aerosolized medications such as an inhaler. Inhaled corticosteroids and combination inhalers are the cornerstone of long-term asthma treatment.  

“Aerosolized medications directly target the lungs, thus eliminating the need for the body to absorb it,” he said in a May 7 lecture organized by Mercury Drug Corporation. “People also need only a minimal dose to feel relief from their symptoms.”  

The two common types of inhalers are the pressurized metered dose inhaler, and the dry-powder inhaler. To use the former, shake it several times, seal your lips around it, and then start inhaling as you begin pressing down the canister.  

“Inhale slowly,” Dr. Magallanes said, “and then hold your breath for 5 to 6 seconds before exhaling in your nose.”

The proper technique for a dry-powder inhaler, on the other hand, is quick and forceful.

“Don’t shake it because the powder might spill,” said Dr. Magallanes in the vernacular. “Ask your doctor, nurse, or pharmacist how to use your dry-powder inhaler, because some only need to be opened, whereas some need to be cocked [like a gun].”

He added that asthma is well-controlled in a patient if they do not manifest the following more than twice a week: daytime symptoms; night-time wakefulness; activity limitation; and medication reliance.

The cause of asthma is not known, although factors such as genetics, allergies, and the environment play a role. Mayo Clinic lists some of the triggers that can flare up symptoms in an asthmatic individual: chemical fumes (as in occupational asthma), dust (as in allergy-induced asthma), and cold air (as in exercise-induced asthma).  

If you have frequent coughing or wheezing that persists for more than two weeks, consult a doctor, Dr. Magallanes said.

“You don’t even need to see a specialist,” he added. “A family doctor, a doctor to the barrios… they all know how to treat asthma.”

May 3 was World Asthma Day. — Patricia B. Mirasol

Strange Loop and Michael Jackson musicals lead Tony nominations

MUSICAL A Strange Loop, the story of a Black gay man and his mental struggles as an artist, landed a leading 11 Tony nominations on Monday as Broadway prepared to honor its first season following a long pandemic shutdown.

A Strange Loop, winner of the 2020 Pulitzer Prize for drama, will compete for best musical with MJ, a biographical musical that features two dozen Michael Jackson hits, and race relations story Paradise Square.

MJ and Paradise Square received 10 nods each.

Other shows vying for best musical are Billy Crystal’s comedy Mr. Saturday Night, Six, a feminist take on the wives of England’s King Henry VIII; and Girl from the North Country, which features songs by Bob Dylan.

Contenders for best play include The Lehman Trilogy, the story of the rise and fall of investment firm Lehman Brothers. It will compete with Clyde’s, The Minutes, Hangmen, and Skeleton Crew.

Winners will be announced on June 12 at Radio City Music Hall at a ceremony that will be broadcast live on CBS television and streamed in Paramount+.

The show will be a celebration of Broadway’s comeback after a 17-month shutdown due to the coronavirus disease 2019 (COVID-19) pandemic. Productions began to return last August and several shows debuted in recent weeks to meet the deadline for Tony nominations.

The Music Man starring Hugh Jackman was nominated for best musical revival alongside Company and Caroline, or Change.

Mr. Jackman will compete for best lead actor in a musical. Other acting nominees included Uzo Adubo, Phylicia Rashad, Sam Rockwell and Mary-Louise Parker.

Macbeth star Ruth Negga was nominated for her role as Lady Macbeth, but voters passed over co-star Daniel Craig.

Also left out were Sarah Jessica Parker and husband Matthew Broderick, who star in Neil Simon comedy Plaza Suite.

A revival of Funny Girl received one nomination, for actor Jared Grimes. — Reuters

1...6,0516,0526,053...13,845Page 6,052 of 13,845
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube