Arts & Culture (08/18/21)

August 18, 2021 | 12:01 am

Invasion of Ona by Ernest Concepcion is one of the works to be discussed in the Metropolitan Museum of Manila’s Series 3 of Art Inspires.

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Metropolitan Museum’s Art Inspires series

THE ART Inspires series, launched in March, is the Metropolitan Museum of Manila’s series of dialogues with artists, curators, scholars, and writers with a focus on the artistic process and experience in reference to an artist’s work or body of works featured in ongoing exhibitions at the museum. Series 3 of Art Inspires is “Into The Abyssal Zone,” to be held on Aug. 28, 10 – 11:30 a.m., live on Zoom and Facebook. It will feature Invasion of Ona from the Museum collection and the works of Ernest Concepcion. The talk will involve the artist, Daki Fernando, a professor at the UP College of Fine Arts, and Carl Javier, CEO of PumaPodcast and a lecturer at the Ateneo Fine Arts Department. Mr. Concepcion’s highly illustrative body of work draws from the visual narratives of comics, sci-fi, and fantasy genres, as well as the broader speculative worlds born out of geek culture. For more information, send an e-mail to info@metmuseum.p.h

The Manila Girls virtual heritage tour

A HERITAGE and food tour — “The Manila Girls Virtual Tour with Goodies” — will be held on Aug. 30, 4 p.m. The virtual tour will explore the environs of Tondo, Malate, España (Sampaloc), and Makati. All four of these places have rich, complex histories that date back to the Spanish Era (and in Tondo’s case, precolonial times) which will be explored in this virtual session. To make the experience more memorable, the tour comes bundled with the latest batch of Manila Girls Goodies. Tour rates are P999, inclusive of the Manila Girls Goodies Bundle. Registration closes on Aug. 25. Slots are limited. This is a project of The Heritage Collective and WanderManila, in cooperation with Ang Kuwentong Inuwi Mo (Akim) and Purple Banyan. For more information and to reserve a slot, send a message at www.facebook.com/WanderManila/posts/1730761430446906.

All CCP 13 Artists awardees in one website

THE CCP Visual Arts and Museum Division recently launched the first online listing of recipients of the CCP Thirteen Artists Award. The microsite is a searchable resource containing the roster of artists and archival posters from each year of the program. Now on its 18^th year of conferment, the CCP Thirteen Artists Award is the oldest government award for visual artists. It celebrated 50 years of its founding in 2020, and has named 211 artists to date, with the latest batch announced just last month. To know more about who’s who, visit thirteenartists.culturalcenter.gov.ph.

British Council offers artist grants

APPLICATIONS for the latest round of the British Council’s Connections Through Culture (CTC) grants in Southeast Asia are now open until Sept. 5. Initiated in 2019, CTC grants promote arts and cultural exchange between the UK and Southeast Asia to spark innovative ways for participants to collaborate through the arts. The bilateral grants program supports cultural exchanges and collaborations between artists and art organizations to nurture cooperation and long-lasting relationships between the UK and, for 2021, six Southeast Asia countries: Indonesia, Myanmar, Malaysia, the Philippines, Thailand, and Vietnam. With coronavirus disease 2019 (COVID-19), travel is restricted and uncertain, so the CTC grants will be used to develop and strengthen new and existing relationships and provide funding to promote dialogue and explore the possibilities of online collaboration. Last year, the grant allowed artist-educator Nathalie Dagmang and Keel University cultural geographer and educator Deirdre McKay to bring Filipino labor migrants into conversation with artists, family members, and policy makers across the diaspora through an online space called Kamustahan Art Projects. Participants presented their artwork through a virtual exhibition to honor the contributions of Filipino migrant workers in the time of COVID. Artists, arts professionals and art group/collective representatives are eligible to apply for the online grants valued up to £8,000. A new alumni scheme is also open for previous grantees, with value up to £2,000 GBP. Grantees may use the fund for projects, platforms and conversations between Oct. 2021 to Feb. 2022. Successful applicants will be announced end of September. Applicants can find full information on the Southeast Asia pages of the CTC grant; in the case of the Philippines, on British Council Philippines. To apply and for general enquiries, e-mail ctc@britishcouncil.org.

Philippines’ full vaccination rate reaches 11.47%, still trails neighbors

August 18, 2021 | 12:00 am

How PSEi member stocks performed — August 17, 2021

August 18, 2021 | 12:00 am

Here’s a quick glance at how PSEi stocks fared on Tuesday, August 17, 2021.

Philguarantee says it has approved over P37-B loan cover since Dec.

August 17, 2021 | 9:23 pm

THE PHILIPPINE Guarantee Corp. (Philguarantee) said it has approved credit guarantees on loans worth P37.7 billion.

The period covered is the start of the guarantee program in December until June this year.

Citing a report from the state-run firm, the Department of Finance said Tuesday that Philguarantee backed P2.1 billion worth of loans taken on by over 10,000 micro-, small-, and medium-sized enterprises (MSMEs) from banks.

When the program was launched in December, it had only P207 million in guaranteed loans.

The program typically provides 50% cover on business loans, according to Philguarantee President and CEO Alberto E. Pascual.

Currently, 19 lenders are participating the program: two universal banks, six thrift banks and 11 rural banks, up from only three lenders at the launch last year.

“The participating banks have sustained their lending activity. A total of 9,180 SMEs (small and medium enterprises) in the essential wholesale and retail trade sector (i.e., agricultural products distribution, medical support and medicine distribution) were granted additional working capital for their businesses,” Mr. Pascual said.

He added 1,332 manufacturers also benefited from the program.

Philguarantee is currently implementing the government’s P120-billion credit guarantee program for MSMEs, intended to help small businesses survive the pandemic by encouraging banks to lend them the capital they need.

Republic Act No. 11494 or the Bayanihan to Recover as One Act (Bayanihan II) injected additional capital of P5 billion into the company to expand the program, P2 billion of which was set aside for MSMEs and the rest for guarantees on loans to bigger companies requiring up to P300 million in credit cover.

Philguarantee covers loans for small companies of between P100,000 and P1 million when they borrow mostly from thrift banks and rural banks.

It can also provide up to 80% guarantee cover on debt with a maturity of a maximum of seven years. — Beatrice M. Laforga

Energy dep’t not expecting Luzon power interruptions during 2022 election season

August 17, 2021 | 9:22 pm

THE DEPARTMENT of Energy (DoE) said it does not expect power outages to disrupt the Luzon power grid during election season, citing projections that yellow alerts are unlikely during the period.

“We have sufficient supply for electricity for the election week. (NGCP data) show sufficient reserves which are above the yellow alert level, meaning no yellow alert(s). In cases of yellow alerts, no power interruptions (will) occur,” Undersecretary and Spokesperson Felix William B. Fuentebella said, referring to projections for Week 19 of 2022, which is election week.

When power reserves fall below ideal levels, the system operator issues a yellow alert, which is subsequently declared a red alert if the supply-demand balance worsens.

Speaking to reporters in a virtual briefing, the DoE official said he expects a “thinning of reserves” between May to June next year due to higher demand and lack of water supply for hydro power plants, but no yellow alerts will likely be placed on the Luzon grid during this period.

According to the NGCP’s (National Grid Corporation of the Philippines) base case scenario for 2022, available power is expected to be above the contingency and regulating minimums, making yellow and red alerts unlikely next year.

The scenario considers input from generators, and adopts a “no maintenance” assumption for power plants during the dry season, in compliance with DoE practice for making projections, NGCP Head of Systems and Standards Division and Technical Services Department Ermelindo R. Bugaoisan, Jr. said in a briefing Tuesday.

Mr. Fuentebella said that the initial projections have not yet taken into account other factors including forced outages.

“What we have to do is to further create scenarios and in creating the scenarios, (we will know) what our response should be,” he said.

“We are coordinating closely and monitoring the situation because we have to make sure that we maintain this or improve it. We (can) do that through proper coordination and preparation,” he added.

Senator Sherwin T. Gatchalian, who chairs the Senate Committee on Energy, has called out the DoE for its “apparent indifference in arresting any possibility of rotational outages during the May 2022 elections.”

“It’s unacceptable that there’s even an iota or possibility of brownouts during the election period (and that) they would let this happen. It’s their job to address that situation… We see the problem of outages every summer so we must do something as early as now,” he said in a statement Tuesday.

He said the DoE should identify solutions and take steps to rule out the possibility of brownouts — rolling power outages to relieve pressure on various parts of the grid — during the upcoming elections.

According to Mr. Gatchalian, repair work on power plants must begin immediately to ensure the continuous supply of power.

The NGCP placed the Luzon grid on yellow and red alert at various times between May 31 and June 2, due to thinning reserves, increased demand and forced plant outages. — Angelica Y. Yang

Philippine property developers commit to build 1M square meters worth of resilient structures

August 17, 2021 | 9:22 pm

PROPERTY DEVELOPERS in the Philippines have pledged to construct 1 million square meters of hazard-resilient structures, either through retrofitting or new builds, the International Finance Corp. (IFC) said.

In a statement Tuesday, the IFC said the developers have joined its “Building Resilience Commitment campaign.”

“Commitments from Imperial Homes Corp., NEO, and SM Group have already fulfilled half of the target. The remaining commitments are expected to be pledged by the end of the year,” the IFC said.

Planned and ongoing projects which are pledged, will be evaluated for resilience by using the global development institution’s Building Resilience Index, an online hazard mapping and resilience assessment tool.

The Philippines was chosen as the pilot country for the Building Resilience Index.

Imperial Homes, NEO and SM Group are currently using a beta version of the index to incorporate resilience into eight projects covering the residential, office, retail, educational, and hospitality sectors, according to the IFC.

“The safety, habitability, and financial performance of buildings in the Philippines is being severely impacted by the increasing frequency and severity of climate-related events, causing significant setbacks in efforts to promote shared prosperity in the country and reversing development gains,” IFC Global Lead and Product Manager of the Building Resilience Index Ommid Saberi said.

“We are excited to partner with leading developers, investors, and policymakers to help us advance one of the most critical agendas of our time,” he added.

Funding for the Building Resilience Index came from the government of the Netherlands, and was launched in the Philippines with help from the Australian government.

For nearly 60 years, the IFC, a member of the World Bank group, has invested more than $5.5 billion in 160 projects across the Philippines, with over $3.5 billion funded by the institution itself.

It added that it hopes to help the country reduce the impacts of climate change, deepen financial inclusion, promote sustainable infrastructure, and augment the private sector’s capacity. — Angelica Y. Yang

BIR says tax registration, filing for influencers voluntary for now; mandatory filing in the works

August 17, 2021 | 9:22 pm

THE BUREAU of Internal Revenue (BIR) said tax registration for social media influencers is currently voluntary, though it is studying how to compel the industry to disclose its income more regularly.

The BIR will come up with process to “crack down” on influencers in order to make them pay tax on their income, Deputy Commissioner for Operations Arnel SD. Guballa said in a text message Tuesday.

The process for voluntary registration and payment was outlined in Revenue Memorandum Circular (RMC) No. 97-2021 issued late Monday.

The circular cited reports that “certain social media influencers have not been paying their income taxes despite earning huge income from the different social media platforms.”

It said some influencers are not registered with the bureau, or are registered as engaged in another line of business while failing to declare income from social media platforms.

“This circular is therefore issued to clarify the tax obligations of all social media influencers, individual or corporations, with the end goal of raising revenues from their undeclared income and at the same time, reminding them of their obligations under the law and of the possible consequences of their failure to pay taxes,” according to the circular.

The BIR classifies social media influencers as individuals or companies generating income, both in cash or in kind, from social media platforms like Youtube, Facebook, Instagram, Tiktok, Reddit and Snapchat.

They are entitled to the option of paying income tax or business tax, either in the form of percentage tax or value-added tax.

Income declarations are mandatory from sources like Youtube’s partner program; sponsored social and blog posts; display advertising; serving as a brand representative or ambassador; affiliate marketing; co-creating products; the promotion of their own products; photo and video sales; digital courses, subscriptions and electronic books; and earnings from podcasts and webinars.

The agency has no estimate as yet on the social media influencer population and the potential revenue to be collected from them, according to Mr. Guballa.

The BIR is currently studying the segment’s revenue potential, and registrations will help improve such projections, according to Undersecretary Antonette C. Tionko, head of the revenue operations group of the Finance Department.

“BIR recently issued an RMC on influencers requiring them to register and pay their taxes. That’s one of the measures we are adopting because I don’t know if they pay tax… They can (register) online,” Ms. Tionko told reporters Tuesday.

The BIR also reminded online businesses to register with the bureau and pay their taxes when it issued RMC 60-2020 in June 2020.

“It seems that the recent RMC issued by the BIR involving social media influencers is trending online and has generated mixed reactions — some bashing the BIR but mostly positive feedback from netizens,” Maria Lourdes P. Lim, the tax managing partner of Isla Lipana & Co., the PwC Philippine member firm, said in a mobile phone message Tuesday.

Ms. Lim said the circular serves as a reference for online influencers on their tax compliance obligations, since it provides details on the earnings that have to be declared and which ones are subject to tax.

“I don’t think the social media influencers are being singled out, there are also other industries which the BIR is looking at,” she said.

“If there are concerns about social media influencers who have not yet registered with the BIR, it would be advisable that they do so as soon as possible and pay their fair share of the taxes to avoid adverse implications if they are subsequently audited by the BIR. They can also consider seeking professional help for assistance,” she added. — Beatrice M. Laforga

P600-M commercial irradiation facility to rise in Tanay

August 17, 2021 | 9:21 pm

CONSTRUCTION of the first commercial electron beam (E-Beam) irradiation facility in the Philippines serving the medical and food industries is expected to be completed by late 2023, A Brown Co., Inc. (ABCI) said.

Paul Francis B. Juat, A Brown vice-president, told BusinessWorld that the facility, run by fully-owned subsidiary Irradiation Solutions, Inc., has entered the engineering works stage. It will rise on a 1.2-hectare site in Tanay, Rizal.

Mr. Juat said the facility, to be built for around P600 million, will offer a cost-effective means of sterilizing medical devices and agricultural products.

“It is one of the cheapest sterilization methods compared to other alternatives and the company feels that this will be a big help to industries in the Philippines,” Mr. Juat said.

According to Mr. Juat, the facility will be able to accommodate volume of 20,000 tons each year, and has received letters of interest from 10 agricultural and medical companies.

“We have received interest from… food additive companies, food processors, and medical devices firms,” Mr. Juat said.

He also estimated the cost for users at between P15 and P50 per kilogram, depending on the type of product that will undergo the process.

Luvimina G. Lanuza, Philippine Nuclear Research Institute (PNRI) Irradiation Services Section former head, said ABCI’s planned facility helps address the need for more local commercial irradiation facilities.

Ms. Lanuza said the demand is expected to come from the herbal and spice industries, adding that the facility can also be used to eliminate pests on fruits and vegetables.

She also confirmed that the facility can be used on frozen fish and other seafood, cosmetic raw materials, packaging materials, animal feeds, and crops such as onions and potatoes.

Ms. Lanuza added that the facility can service medical products such as syringes, personal protective equipment, surgical masks, surgical gloves, gauze, and cotton dressings, among others.

“The facility exposes the products to a beam of electrons just like how cargoes undergo x-ray scanners in airports. It sterilizes the product, reduces the microbial load, eliminates pathogens, extends shelf life, and reduces postharvest losses,” Ms. Lanuza said.

A Brown’s Mr. Juat said the company is also looking to establish another commercial E-beam irradiation facility in Toril, Davao City.

“The budget for the Toril facility is expected to be around the same budget as the Tanay facility,” Mr. Juat said.

According to its website, A Brown is involved in real estate, power generation, public utilities, and agribusiness. — Revin Mikhael D. Ochave

Employers, unions launch drive to ratify ILO convention on workplace violence, harassment

August 17, 2021 | 9:21 pm

THE LEADERS Forum, an organization of employers and unions, said it will work towards getting the International Labor Organization’s (ILO) Violence and Harassment Convention ratified.

The initial steps will involve consultations with workers and employers, the forum said.

The Violence and Harassment Convention or Convention 190 provides a framework for companies to create work environments that are free from violence and harassment, grounded on the principles of dignity and respect.

“(T)he (Leaders Forum) calls on its constituents to participate in this process so that workplaces, whether at home or in the site (e.g., factory, office, etc.) are free from violence and harassment in whatever form to achieve a safe space for all workers regardless of gender, sex, race, age, beliefs, and ability,” it said in a joint statement Tuesday.

The Leaders Forum members include the Employers Confederation of the Philippines, the Philippine Chamber of Commerce and Industry, the Philippine Exporters Confederation, the Federation of Free Workers, Sentro ng mga Nagkakaisa at Progresibong Manggagawa (Center for United and Progressive Workers), and the Trade Union Congress of the Philippines.

These groups are currently working with the Labor department for the ratification of the ILO Convention 190. The convention came into force on June 25 after it was ratified by two ILO member states, Fiji and Uruguay.

Five other countries have so far ratified Convention 190 — Argentina, Ecuador, Mauritius, Namibia, and Somalia.

The Leaders Forum said it recognizes the passage of Republic Act 11313 or the Safe Spaces Act in April 2019, and the signing of its implementing rules and regulations in October 2019, as significant developments aligning the country’s laws with ILO Convention 190.

The Safe Spaces Act expands the scope of Republic Act 7877 or the Anti-Sexual Harassment Act of 1995 by recognizing that sexual harassment may also occur among peers, co-employees, in the streets and other public places, and online. — Bianca Angelica D. Añago

PHL 5G still in infancy, but improvements significant, Opensignal says

August 17, 2021 | 9:21 pm

THE FIFTH generation (5G) of mobile communications technology in the Philippines is still in its “infancy,” but has delivered improvements to users’ mobile experience, mobile analytics company Opensignal said.

“We’ve seen that 5G already delivers significant improvements to our Filipino users’ mobile experience when compared to that seen when they only connect to 4G services, for video, multiplayer gaming and for speed,” Opensignal said in its latest analysis.

“The improvements are just the start in the 5G era,” it added, noting that unlike 4G, 5G is still a developing technology, “so the gap will likely widen between 4G and 5G in future.”

Comparing Filipinos’ experience with early-stage 5G to when they adopted 3G and 4G technologies, Opensignal said users saw “10.2 times faster speeds” from 5G.

“Our users racked up an impressive 149 Mbps (megabits per second) when connected to 5G which is 10.2 times faster than the 14.6 Mbps seen in 4G,” Opensignal said.

“The speed gap between 3G and 4G was smaller with 4G speeds a much lower (but still impressive) 3.5 times faster than 3G speeds,” it added.

Filipino users experienced 3.7 times faster upload speeds on 5G than on 4G.

“Our users saw average upload speeds of 14.5 Mbps when connected to 5G or 10.5 Mbps higher than those seen on 4G,” Opensignal said.

But the ratio between 5G and 4G is lower than that between 4G and 3G, it noted. “5G upload speeds were 3.7 times faster than 4G, while average 4G upload speeds were four times faster than those seen when connected to 3G.”

“This indicates that currently, the 4G/5G uplift on average upload speeds is less in percentage terms than the difference seen when moving from 3G to 4G. However, the boost that 5G provides is likely to make a noticeable difference to our users,” Opensignal added.

Opensignal also said in its analysis that Filipino smartphone users experienced an “excellent” video experience when connected to 5G.

“We found that our users enjoyed an Excellent (75 or above) video experience when connected to 5G, instead of the Good (55-65) video experience seen when connected to 4G. In contrast, with 3G, they had a Fair (40-55) video experience.”

Opensignal defines an excellent rating as “very consistent experience across all users, video streaming providers and resolutions tested, with fast loading times and almost non-existent stalling.”

In terms of user experience when connected to 4G, Opensignal said the rating was 19.3 points (46.8%) higher than when connected to 3G.

Filipino smartphone users also had a “much better” gaming experience on 5G and 4G.

“Our Filipino users had a Fair (65-75) games experience when connected to 5G and the 5G score was a startling 29.6 points (1.7 times) higher than the score for 4G games experience,” Opensignal noted.

“The gap between the 3G and 4G games experience was not as large, as there was a difference of 9.9 points between the two scores and the 4G games experience score was 1.3 times higher than the 3G games experience. The games experience observed on 4G and 3G connections was Poor (40-65) and Very Poor (under 40), respectively,” it added. — Arjay L. Balinbin

Peso rebounds on stock market’s rise, weak US data

August 17, 2021 | 9:00 pm

THE PESO strengthened versus the greenback on Tuesday following gains at the stock market and weak US data.

The local unit closed at P50.401 per dollar on Tuesday, gaining 24.4 centavos from its P50.645 finish on Monday, data from the Bankers Association of the Philippines showed.

The peso opened Tuesday’s session at P50.65 versus the dollar. Its weakest showing was at P50.67, while its intraday best was at P50.32 against the greenback.

Dollars traded dropped to $859.9 million on Tuesday from $967.5 million on Monday.

The peso rose to track the stock market’s climb, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

The Philippine Stock Exchange index gained 47.73 points or 0.73% to close at 6,561.41 on Tuesday. The broader all shares index likewise increased 19.31 points or 0.48% to finish at 4,072.47.

Meanwhile, a trader said the local unit strengthened after the weaker-than-expected US consumer sentiment report.

The preliminary consumer index sentiment index conducted by the University of Michigan saw a reading of 70.2 in the first half of August, falling from the 81.2 final print in June, Reuters reported. This was the lowest level since 2011 and was below the 81.2 forecasted by economists who participated in a Reuters poll.

The survey’s gauge of current economic conditions also fell to 77.9 from 84.5 in July while its measure of consumer expectations slid to 65.2 from 79.0 in July.

For today, Mr. Ricafort gave a forecast range of P50.30 to P50.50 per dollar, while the trader expects the local unit to move between 50.25 and 50.50. — LWTN with Reuters

Shares rise on remittances data, firms’ earnings

August 17, 2021 | 9:00 pm

PHILIPPINE shares rose on Tuesday after remittances recorded a six-month high in June and as the corporate earnings season ends on a “high note.”

The Philippine Stock Exchange index (PSEi) went up by 47.73 points or 0.73% to close at 6,561.41 on Tuesday, while the all shares index climbed 19.31 points or 0.47% to 4,072.47.

“Upbeat remittances growth last month of seven percent was a pleasant and welcome respite from the slew of negative news linked to the virus,” First Metro Investment Corp. Head of Research Cristina S. Ulang said in a Viber message. “Also, [the] corporate earnings season [is] ending on a high note.”

“Philippines shares closed higher ahead of big retail earnings releases slated this week in the region while others are awaiting retail-related and industrial production data, [which] will be released later [in the day],” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a separate Viber message.

“Investors have been searching for clues as to how much the economy has recovered or will need [to] in the coming month. Meanwhile, local funds managers are taking positions as to the state of the country next week, and whether ECQ (enhanced community quarantine) in selected areas will be extended,” he added.

Money by overseas Filipino workers (OFWs) reached a six-month high in June, as more host countries gradually reopened their economies amid the rollout of coronavirus vaccines.

Cash remittances rose by 7% to $2.638 billion in June from $2.465 billion a year ago, data released by the Bangko Sentral ng Pilipinas (BSP) on Monday showed.

June marked the fifth consecutive month of year-on-year growth and the biggest inflows since the $2.89 billion recorded in December.

This brought inflows in the first half to $14.918 billion, up by 6.4% from $14.019 billion in the same period of 2020.

Meanwhile, the Health department reported 14,610 new coronavirus cases on Monday, bringing the country’s tally to 1,755,846. Active cases stood at 106,672.

The government is expected to announce new quarantine classifications by Thursday.

Majority of sectoral indices closed in the green on Tuesday except for mining and oil, which went down by 4.06 points or 0.04% to 9,504.31.

Meanwhile, property gained 37.98 points or 1.25% to 3,060.28; industrials rose 92.27 points or 0.97% to 9,583.88; services went up 11.87 points or 0.73% to finish at 1,628.80; financials inched up 6.84 points or 0.48% to 1,430.44; and holding firms gained 14.90 points or 0.23% to close at 6,476.96.

Value turnover decreased to P6.76 billion with 1.20 billion issues traded on Tuesday, from the P8.65 billion with 1.82 billion shares on Monday.

Decliners narrowly outnumbered advancers, 98 against 97, while 50 names closed unchanged.

Net foreign selling slowed to P534.4 million on Tuesday from P1.86 billion the previous day. — K.C.G. Valmonte