Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 6166

SEC flags Elite Alliance entity’s unlicensed investment scheme

THE Securities and Exchange Commission (SEC) has released an advisory against Elite Alliance Vera Trade System OPC for soliciting investments from the public without the required license from the regulator.

Led by a certain Eins Angelo Ruiz Valencia, the entity also goes by EliteAllianceVera Computer Trading, Elite Alliance Vera Trade Ltd., Elite Aliance Vera Trade International, and EAV Trade.

The SEC said Elite Alliance Vera Trade System OPC was registered as a one-person corporation under Company Registration No. 2021070020495-22 on July 22 this year.

However, it is not authorized to solicit investments from the public since it does not have the necessary license as required under the Securities Regulation Code (SRC).

The Valencia-led entity is said to be offering a program that promises 100% returns every 15 days for as low as P500. It also offers a 50% direct referral bonus and a one percent unilevel bonus.

The SEC also said the scheme offered by Elite Alliance Vera Trade System “shows indication of a possible ‘Ponzi Scheme,’” wherein the investments of new investors are used to pay for the “fake profits” of those who invested in the program first.

“The commission will not issue a permit to offer and sell securities to the public to persons or entities that are engaged in this business or scheme,” the corporate regulator said.

BusinessWorld reached out to Mr. Valencia for comment via Facebook Messenger, but he has yet to respond as of writing.

The SEC is warning that those involved as salesmen, brokers, or agents in the scheme of Elite Alliance Vera Trade or for Mr. Valencia may be prosecuted or held criminally liable under the SRC. A penalty fee worth P5 million at most may be imposed and/or they may face 21 years if imprisonment.

“Further, the names of all those involved will be reported to the Bureau of Internal Revenue so that the appropriate penalties and/or taxes be correspondingly assessed,” the SEC said.

The investing public is advised to not invest or to stop investing in the scheme offered by the entity. — Keren Concepcion G. Valmonte

Hatch stuff: Simple but sprightly

Nimble and nice: The Suzuki Swift punches above its price point with peppy yet frugal performance. — PHOTO BY MANNY N. DE LOS REYES

Rediscovering a love for hatchbacks with the Suzuki Swift

WHILE SMALL crossovers have been stealing the limelight with one new model launch after another, it’s easy to overlook the genre that shares a crossover’s versatility, while retaining a sports car-like nimbleness — the hatchback.

But while there are roughly a dozen hatchbacks on the market (in S and XS sizes), few have adhered to the fun-to-drive-yet-affordable formula as the Suzuki Swift has. While its contemporaries — the Honda Jazz (recently replaced by the City Hatchback), and the Toyota Yaris — now breach the million-peso mark, a brand-new Swift starts at a substantially lower P755,000 for the manual and P819,000 for the automatic.

Depending on the variant, the Swift is now priced lower by at least P154,000 and as much as P296,000 compared to its direct rivals (although the Swift uses a 1.2-liter engine for both its MT and AT versions, while its competitors have 1.3- and 1.5-liter power plants).

CHANNELING THE MINI COOPER
The Swift sits low to the ground — squat and wide — exactly the same stance as a Mini Cooper. And like the Mini, it sports large, expressive headlights that run counter to the now-common slim headlights. The big lights bracket a gaping blacked-out grille that gives the Swift a sporty, aggressive look.

The side view is devoid of extraneous curves and bulges. The only visual highlights are the high beltline, the subtle curvature that runs along the fenders and doors that give the Swift its wide, muscular look, and the hidden rear door handle on the novel C-pillar with its wraparound blacked-out treatment that creates a floating roof effect.

The rear view is low, squat, and wide, with large LED taillights and a subtle roof-edge spoiler. It’s the look of a proper hot hatch. The Swift wears 185/55R16 rubber; they may seem narrow but they don’t look undersized for the car. More importantly, they’re perfect for the car’s power and weight. Any wider and they’ll affect the car’s nimbleness.

SPRIGHTLY PERFORMANCE, FRUGAL CONSUMPTION
The Swift’s 1.2-liter four-cylinder engine may develop only 82hp and 113Nm, but given the car’s lithe 860-kg curb weight, the Swift still manages to deliver energetic performance, especially if you’re willing to rev the smooth and rev-happy engine to 4,000rpm and higher. To put this in perspective, a base Mini Cooper’s power-to-weight ratio is nine kilos per horsepower; in contrast, the Swift’s is 10.4 kilos per horse — not too shabby.

Fuel economy? It delivered an effortless 8-9kpl in the city, and should easily achieve 12-15kpl on the highway.

LITERALLY SWIFT MOVES
The Swift is a ball to drive — whether you’re in gridlock or cornering fast on your favorite backroad. I got to test the automatic (CVT) version; I expected the CVT to make the car feel sluggish, but it proved a willing accomplice, eagerly shifting to lower gears, allowing the engine to spin higher up the rev range. The stickshift version — or a paddle-shift for the automatic (which sadly isn’t available) — should be an even greater joy.

The ride/handling balance is early skewed for comfort. Nonetheless, there is minimal body roll when cornering. The electric power steering is precise and gives good feedback. Braking is confidence-inspiring and is easy to modulate.

Credit also goes to Suzuki’s advanced HEARTECT high-rigidity body construction that improves not just the car’s crashworthiness, but also its dynamic performance, riding comfort, and fuel economy. HEARTECT employs lightweight yet ultra-high-tensile steel and combines that with a continuous and smoothly curving shape with fewer joints for a rigid, safe, and responsive chassis.

SPARTAN YET FUNCTIONAL INTERIOR
Inside, you’ll find a spacious yet spartan all-black interior. You won’t find any leather on the seats, steering wheel, shift knob, or door panels. There is no chrome door trim. All you get is black plastic on the dash, console, and door panels and black fabric on the seats and armrests. At least the plastics are nicely textured and sculpted while the black fabric feels plush on the thickly padded and very comfortable seats. The front seats’ prominent side bolsters deserve special mention as they give superb support. They look great, too — as if they came straight from a sports car.

Other nice interior elements are the meaty, thick three-spoke steering wheel, with its racy flat-bottom design, and the ’70s-era twin circular instrument cluster.

You won’t miss those complicated electronic AC switches with the Swift’s no-brainer three AC knobs (fan speed, thermostat, and air direction). The Swift has a seven-inch USB/Bluetooth touchscreen infotainment/navigation system with four speakers plus a USB port and a 12V socket up front. There are twin cupholders up front and a single one for the rear. There are also bottle holders on all four doors (plus spacious door pockets on the front doors).

Safety and security features include dual front air bags, four three-point ELR seat belts (and a two-point lapbelt for the middle rear-seat passenger), two Isofix anchorages, two additional non-Isofix child seat anchorages, ABS with EBD, brake assist, rear parking sensors, an anti-theft system, and a cabin air filter. There are also three adjustable headrests for the 60/40 split-folding back seat.

The latest Swift even boasts modern pedestrian-protection systems like impact-absorbing front bumper, hood, and even hood hinges and wiper system.

All things considered, the Swift is an exceptionally accomplished small car. It does everything it’s designed to do very well and achieves that despite an eminently affordable price tag. It doesn’t have an overly long features list compared to its rivals, but its compelling (and much lower) price and its refined and well-developed driving dynamics more than make up for it.

Films of fashion

House Of Gucci — IMDB.COM

Fashion, in the form of costumes, is an important aspect of films – think of how much the clothes on films like Sabrina and The Grand Budapest Hotel helped set the mood or the personalities of characters. But while fashion is part of film, there are also, occasionally, films about fashion. Sometimes they are fiction like The Devil Wear Prada, biopics like Coco Before Chanel, or documentaries like Halston and The September Issue. And some are created by the fashion houses themselves to celebrate a special occasion.

In the latter category is a series of films created to celebrate 100 years of Chanel No. 5 perfume.

To mark the occasion, Chanel High Jewelry crafted a jewelry collection reflecting the aspects of the perfume, from its bottle, stopper, to its scent. The collection is crowned by the 55.55 necklace, which has as its centerpiece a 55.55-carat emerald-cut D Flawless Type IIa diamond. Other pieces include a ring of diamond Jasmine blossoms (paying homage to a backbone of the perfume’s scent) and a magnificent Golden Sillage brooch, in yellow gold and diamonds, reflecting the spread of No. 5 as it is sprayed.

While the collection was formally unveiled in March, Chanel released a series of films detailing the collections’ craftsmanship that can be seen at Chanel’s channel on YouTube.

Then there is the biopic, one of which, The House of Gucci, has inspired controversy even before its release with a criticism that is very in keeping with the image of the fashion world.

MGM released the trailer of the society and crime drama House of Gucci on July 30. The film stars Lady Gaga as Patrizia Reggiani, the socialite who had married into the prestigious fashion house through one of its scions, Maurizio, a grandson of Gucci founder Guccio Gucci. The couple divorced in 1991, and Maurizio was shot by a hitman in 1995. Ms. Reggiani was sentenced to 29 years in prison for ordering her husband’s murder.

House of Gucci is set to be released by November this year.

The Gucci family has had some troubles with the casting. According to an article from The Guardian, Patrizia Gucci (a cousin of the late Maurizio) told the AP, “My grandfather was a very handsome man, like all the Guccis, and very tall, blue eyes and very elegant. He is being played by Al Pacino, who is not very tall already, and this photo shows him as fat, short, with sideburns, really ugly. Shameful, because he doesn’t resemble him at all.”  — JLG

T-bill, bond rates likely to drop

BW FILE PHOTO

RATES of government securities on offer this week could decline as the market turns to safer assets anew amid the upcoming lockdown.

The Bureau of the Treasury (BTr) is looking to offer P15 billion in Treasury bills (T-bills) on Monday, broken down into P5 billion each in 91-, 182- and 364-day debt papers.

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

A bond trader on Friday said the T-bills could fetch lower yields from a week earlier following the announcement of stricter quarantine restrictions for Metro Manila.

Meanwhile, for the reissued T-bonds, two bond traders expect its average rate to range from 3.85% to 4%, or slightly lower than the 4% coupon fetched when the 10-year notes were first offered on July 21.

The Palace on Friday said Metro Manila will be placed under the tightest lockdown classification from Aug. 6 to 20 to prevent the further spread of the more infectious Delta variant of the coronavirus disease 2019 (COVID-19).

Socioeconomic Planning Secretary Karl Kendrick T. Chua on Friday said latest estimates show each week in lockdown costs the economy about P105 billion.

The Health department on Thursday reported 97 new Delta variant cases, bringing the country’s total infections of the more transmissible COVID-19 variant to 216.

On Saturday, the country logged 8,147 new COVID-19 cases, bringing the total to 1,588,965. Of this, 60,887 were active infections.

The Treasury last week borrowed P15 billion as planned via its offer of T-bills as it was oversubscribed by nearly three times, with tenders reaching P43.027 billion.

Broken down, the Treasury raised P5 billion as programmed via the three-month T-bills at an average rate of 1.05%, down from the 1.082% seen in the July 19 auction.

It also borrowed P5 billion as planned from the 182-day debt papers. The average yield on the six-month instruments inched up to 1.407% from 1.401% previously.

Lastly, the Treasury made a full P5-billion award of the 364-day securities at an average rate of 1.638%, slightly increasing from the 1.629% fetched the week prior.

Meanwhile, the BTr first auctioned off the T-bonds on offer on Tuesday on July 21, where it raised P35 billion as planned from tenders worth P72.956 billion for a 4% coupon rate.

At the secondary market on Friday, the rates of the 91-, 182- and 364-day T-bills ended at 1.1292%, 1.4293% and 1.6361%, respectively, while the 10-year tenor was quoted at 3.8795%, based on the PHL Bloomberg Valuation Reference Rates published on the Philippine Dealing System’s website.

The first trader said the release of July inflation data will also be a key driver for the auctions this week.

The Philippine Statistics Authority will report official July inflation data on Aug. 5, Thursday.

A BusinessWorld poll of 15 analysts yielded a median estimate of 4% for July headline inflation on the back of lower prices of meat following the easing of import tariffs, which is seen to offset higher costs of oil and other food items.

If realized, this would be the first time inflation would fall within the 2-4% target of the central bank since the 3.5% headline print in December. This would also be slower than the 4.1% pace in June but still faster than the 2.7% logged a year ago.

The Treasury is looking to raise P200 billion from the local market this month: P60 billion via weekly offers of T-bills and P140 billion from weekly auctions of T-bonds.

The government wants to borrow P3 trillion from domestic and external sources this year to help fund a budget deficit seen to hit 9.3% of gross domestic product. — L.W.T. Noble

Agriculture dep’t forms devolution task force

PHILIPPINE STAR/ GEREMY PINTOLO

THE DEPARTMENT of Agriculture (DA) has created a task force on devolution in preparation for the transfer of responsibilities from the National Government to the local government units (LGUs).

Agriculture Secretary William D. Dar signed Special Order No. 513 that created the Task Force on Further Devolution, which will set the guidelines ahead of the preparation of the DA’s Devolution Transition Plan. 

Mr. Dar said the task force will also coordinate with the various agencies and offices on behalf of the DA’s Committee for Devolution, created earlier under Special Order No. 432.

The task force is chaired by DA Field Operations Director Bernadette F. San Juan while DA Administrative Service Director Abraham P. Guiao will serve as co-chair.

Under the special order, the task force will also identify data and information requirements needed for the preparation of the transition plan; lay the groundwork for the creation of the transition plan such as the research framework, and data gathering; orient LGUs on research procedures; and organize workshops.

Recently, Mr. Dar said the DA will use the remainder of President Rodrigo R. Duterte’s term to transition to the Province-led Agriculture and Fisheries Extension Systems (PAFES) to improve the distribution of assistance to farmers and fisherfolk.

He added that improving the delivery of extension services is in preparation for the Mandanas-Garcia ruling set to be implemented in January, which will give LGUs with a larger share of national taxes.

“PAFES would serve as the modality of implementing banner programs in the provinces. Under the system, we at the National Government will do the steering, while the LGUs will do the rowing,” Mr. Dar said. — Revin Mikhael D. Ochave

PLDT: Pursuit of fair competition boosting efforts to improve connectivity

PLDT group said on Sunday the government’s pursuit of fair competition in the telecommunications industry, including its initiative to investigate cases and complaints involving exclusive partnerships for alleged “abuse of dominance,” is bolstering its efforts to improve connectivity.

In a joint statement e-mailed to reporters on Sunday, PLDT, Inc. and its wireless arm Smart Communications, Inc. expressed their support for the government’s initiatives “to ensure fair competition in the industry, [as] these boost PLDT and Smart’s efforts to improve customer experience.”

Aileen D. Regio, first vice-president and head of PLDT’s Regulatory and Strategic Affairs, said: “Entering exclusive developments remains a challenge, but we are committed to expand the coverage of our networks to serve as many Filipinos across the country.”

She said the group supports the Philippine Competition Commission’s (PCC) decision to form a task force “to investigate cases and complaints involving exclusive partnerships between condominiums, subdivisions, and other development property owners and internet service providers for ‘abuse of dominance.’”

The PCC announced in July that it formed a task force to look into exclusivity deals.

“Our first abuse of dominance case involved a condo-internet exclusivity deal that limited condominium residents’ choice of an internet service provider. More than a year after we had resolved the case, we started receiving various complaints and queries about similar cases,” PCC Chairman Arsenio M. Balisacan said in a statement.

“After reviewing the reports, we filed similar charges against another condo developer last February and are currently investigating a subdivision owner. Due to the number of such complaints, we have received and cognizant of the importance of internet services amid the pandemic, we set up a task force that will look into similar cases,” he added.

Alfredo S. Panlilio, PLDT and Smart president and chief executive officer, said: “We stand with our government, and grateful for these undertakings, as we work towards providing world-class connectivity for all Filipinos.”

“Together, we will continue to support our increasingly connected societies, especially in the new normal,” he added.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin

Here comes the new Honda Civic Type R

Still based on the 10th-generation Civic, the Honda Civic Type R gets a slew of updates in aid of aesthetics and performance. — PHOTO FROM HONDA CARS PHILIPPINES, INC.

HONDA CARS Philippines, Inc. (HCPI) brings in the updated version of the aspirational (and popular) Honda Civic Type R — the top expression of its classic Civic nameplate.

Now bannering a “new sporty exterior design and mechanical updates which aim to further improve the model’s already exhilarating driving performance,” the Civic Type R was first introduced locally in 2017. The 100 units initially allocated for the market then were snapped up within 48 hours after announcement of availability.

HCPI said that the warm reception is “due to the model’s strong following, multiple recognitions, rich racing heritage, and several track records broken in some of the world’s most challenging racetracks.”

The new Civic Type R gets a sporty update to its aerodynamic package. The front and rear bumpers receive a new lower fog light surround, with a new symmetrical design, smooth surfaces, and sleek styling blades which contribute to the car’s clean styling. Also on the front and rear bumpers (plus side skirts) are a carbon fiber effect front splitter, side under-spoilers, and rear diffuser with a sporty red accent line.

Out back is a Type R spoiler with “vortex generators” diverting airflow across the tail while giving additional downforce to the rear wheels for improved road-holding ability.

A thinner beam and new design define the front grille. The intake area has been enlarged by 13%. “Combined with the Type R’s updated radiator core, this decreases coolant temperature by up to 10 degrees (under Honda internal testing) during high-demand situations, such as track driving,” explained Honda. Wheel arches have been enlarged, and the Civic Type R is fitted with 20-inch Berlina Black alloys.

Still predicated on the 10th-generation Civic, the new Civic Type R features a high center console, and Type R bucket seats with a suede-effect red and black fabric trim. There are carbon center inlays and red accents on the dashboard which extend to the side door panels. The exclusive Type R serial number plate is found below the gear shift lever.

As for the instrument display, a seven-inch full color thin film transistor (TFT) LCD display is in the center area of the cluster. It reveals a variety of different function readouts including, driving mode display (+R, Sport, Comfort), LED gearshift indicator light, turbo boost pressure gauge, throttle/brake input display and g-meter.

Meanwhile, on top of the center console is an updated seven-inch touch screen display audio system with Apple CarPlay and Android Auto connectivity. “Control functions for the infotainment and climate control system have been updated with additional physical buttons and tactile knobs for optimum usability and functionality,” reported Honda.

The familiar 2.0-liter VTEC Turbo resides under the hood, and produces a maximum power output of 310ps at 6,500rpm and peak torque of 400Nm from 2,500rpm to 4,500rpm. The driver can access the performance through a six-speed manual transmission equipped with a rev match control system enabling the car to sustain maximum power during gearshifts. The new Civic Type R also now comes with Active Sound Control (ASC) to augment and complement its triple exhaust system note. “With the ASC, the Type R’s audio system provides an enhanced engine sound within the cabin during aggressive driving in Sport and +R modes, refining it during acceleration in Comfort mode and enhancing the driving experience,” reported Honda.

Improvements on the suspension and brake systems are intended to result in better responsive and sharper handling. The Adaptive Damper System control software gets an upgrade to allow faster road condition evaluation, for improved damper reactions. Braking power comes from Brembo four-piston calipers paired to a new two-piece floating 350mm front brake discs and new brake pads. Honda said that the braking system promises improved thermal efficiency, reduced brake fade — perfect for high-intensity driving, which makes the Type R even more of a track weapon.

The Civic Type R now also comes equipped with the Honda Sensing suite of driver-assistive functions. A monocular camera and wave millimeter radar work together to “monitor and assess various road conditions in front of the vehicle.” The system will alert the driver of potential hazards. Honda Sensing makes the following features possible: adaptive cruise control, collision mitigation braking system, lane keeping assist system, road departure mitigation, and lane departure warning. Aside from this suite, the Type R boasts front driver and passenger air bags, side and side curtain air bags, anti-lock brakes with electronic brakeforce distribution, vehicle stability assist, hill start assist, and a multi-view reverse camera with guidelines.

The new Honda Civic Type R has a suggested retail price of P3.21 million, and will be available in three colors: Championship White, Racing Blue, and Sonic Gray. HCPI said that the SRP is exempted from the Safeguard Duty Bond, and an introductory discount of P100,000 will be extended from July 27 to Sept. 30. For more information, visit www.hondaphil.com or a Honda dealership.

David vs Goliath: Venice ban may not end cruise ship battle

REUTERS

VENICE — When the first cruise ship since the start of the pandemic sailed through the Venice lagoon last month, hundreds of people rallied on land and small boats in protest.

A few weeks later, the government seemed to listen, announcing that to defend Venice’s ecosystem and heritage, cruise liners would be banned from the lagoon from Aug. 1. The move ended years of political hesitation, apparently putting the demands of residents and culture bodies above those of port workers and the tourist industry.

“For us it’s a big victory,” Tommaso Cacciari, a member of the No Grandi Navi (No Big Ships) campaign group, told Reuters. “Many compared us to David against Goliath.”

But the battle may not be over.

While campaigners worry about pollution and erosion in a city already in peril from rising seas, port workers hit by months of lockdowns fear for their livelihoods.

“It was a very huge blow, I felt awful,” said Antonio Velleca, who has worked for a baggage handling co-operative for cruise ships in Venice for 15 years.

“I felt I had lost the certainty of my life,” he added as he peered through the locked-up gates of the partially closed terminal.

Ships over 25,000 tons will be banned from the shallow Giudecca Canal that leads past Piazza San Marco, the city’s most famous landmark. Cruise liners typically weigh at least four times as much.

The future remains uncertain. Rome has passed legislation numerous times in the past to limit liners’ access to Venice, but an alternative docking point is not yet ready.

The government wants to fast-track a docking station at the industrial port of nearby Marghera, but there are no signs that this will be completed soon.

Jane da Mosto of the We are Here Venice group that focuses on environmental and social projects, welcomed the ban on cruise liner “monsters” but feared it was not a long-term solution.

Filippo Olivetti, managing director of the Bassani group that provides port and tourism services, said Venice could not survive without cruise ships.

“It’s just crazy for a port and an area that made its fortune on port activities, on maritime traffic. They are going to become just a little bit more than a small marina,” he said. — Reuters

Frosts stain Brazil coffee belt, growers see nearly a third of fields hit

REUTERS

VARGINHA, BRAZIL — Brownish spots have stained large areas of coffee fields in the south of Brazil’s top producer Minas Gerais, a sign that the worst cold snap in nearly 30 years will hurt production for at least the next two crops, according to an agronomist.

Adriano de Rezende, technical coordinator at the Minasul coffee cooperative, estimated that between 20% and 30% of the crops were hit by the unusually cold temperatures that reached the region on July 20, spurring the worst frost since 1994, according to farmers and analysts.

“It was worse than I imagined,” said Rezende said after flying over the region on Thursday. “It’s hard to see a field that hasn’t suffered any damage.”

Rezende flew over farms in Varginha and other areas in Minas, such as Eloi Mendes, Paraguaçu, Alfenas, Machado, Boa Esperança e Carmo da Cachoeira.

The agronomist and local farmers said that frost struck the region again on Friday but it was less intense, also hitting the Serra da Mantiqueira area, as a new polar mass advances through the center-south region.

Minasul operates in the south of Minas Gerais, a region that accounted for around 40% of arabica coffee production in Brazil in 2020. Arabica is the main type used by large coffee companies such as Starbucks and Nestlé.

Another key producing region, the Cerrado Mineiro, has also been severely impacted.

Minasul President Jose Marcos Rafael Magalhaes estimates the coffee sector in Minas Gerais will lose 5 billion to 6 billion reais ($971.5 million-$1.17 billion) due to lost production.

The frosts in Brazil, the world’s largest producer and exporter of coffee, sent prices in New York sky-rocketing to above $2 per pound for the first time since 2014 earlier this week.

Rezende believes it is early to estimate production losses precisely, as more frosts were expected.

He also said that the intensity of the burning by the cold varies even in the same field in a farm, what makes the evaluation harder.

The production cycle of arabica coffee alternates years of high and lower production, since trees get stressed after a large crop and produce less the following year.

Brazil is currently in an off-year, with production seen at around 55 million 60-kg bags by analysts, down from around 70 million bags in 2020. The worst drought in 90 years has also impacted output.

A larger production in 2022 was considered key by analysts to guarantee a balanced global supply next year, as consumption grows around the world due to the reopening of coffee shops after coronavirus-related restrictions.

FALLING LEAVES
While visiting the Mato Dentro farm in Varginha, the agronomist said that in a month’s time, all the burned leaves will be on the ground, which will make it easier to check how badly the trees were damaged.

The more heavily damaged trees will need a heavy pruning, which means they will only produce again after two years.

Farmer Flavio Figueiredo de Rezende, who produces coffee in Varginha and Carmo da Cachoeira, said that before the frosts, he was expecting near record production in 2022.

“But now, if we produce the same as this year’s, it would be already good. It is sad, but that is part of our struggle.”

The farmer said the damage will not increase much, since the same areas are likely to be hit by the new polar mass.

Magalhaes, Minasul’s president, who is also a farmer, said that most of the production potential for coming crops was lost.

He also said that a lot of coffee seedlings, which became key for the recovery work ahead, were also burned by the cold.

“The recovery will take long. Beyond the damage to young trees, there are no seedlings to plant or expand,” he said. — Reuters

Mitsubishi Xpander headlines MMPC’s June sales

PHOTO FROM MITSUBISHI MOTORS PHILIPPINES CORP.

MITSUBISHI MOTORS Philippines Corp. (MMPC) reported that sales of the Mitsubishi Xpander grew in June versus May. The Xpander ended the month with a sales total of 794 units, a 62% increase. The Xpander is the country’s best-selling MPV, and remains to be one of the strongest nameplates for Mitsubishi. MMPC noted that the Xpander seven-seater has won several local industry awards.

Overall, MMPC sold 2,933 units in June and “retained its strong number two position in the Philippine automotive industry,” reported the company in a release.

“We are very fortunate to receive such strong support from the market. We truly appreciate the trust and confidence that they show for our brand. We are also thankful for the amazing efforts that our dealer partners are making to reinforce the strong number two position of Mitsubishi Motors. Our customers can trust that MMPC is committed to reciprocate the strong patronage by providing dedicated customer service,” said MMPC President and CEO Takeshi Hara.

For more information, visit www.mitsubishi-motors.ph.

MPIC, MPIF, Huawei tie up for sustainability initiatives

COMMUNITIES are set to benefit from the partnership among Metro Pacific Investments Corp. (MPIC) and its partners through the listed conglomerate’s Gabay Kalikasan sustainability initiatives.

In a statement, MPIC said it had signed a memorandum of agreement with Metro Pacific Investments Foundation (MPIF) and Huawei Philippines with deed of donation to support various community impact programs.

It said the partnership is anchored on the shared goal of MPIC, MPIF and Huawei to protect the environment through “cutting-edge technology solutions” such as Internet of Things, artificial intelligence and cloud computing. The tie up seeks to help mitigate illegal logging in protected watershed and forest areas, thus helping to protect the ecosystem.

“I’ve always believed that sustainability is a collective responsibility. It is only through us working together that we will be able to achieve a pervasive impact to make a difference in the world,” said MPIC Chief Finance Officer and Chief Sustainability Officer Chaye Cabal-Revilla.

The signing of the memorandum of agreement was also attended by MPIF President Melody M. Del Rosario and Huawei Philippines Vice-President Daniel Guo.

Ms. Cabal-Revilla said Huawei’s contribution “will be of great help to the communities that we’ll be putting this into.”

Ms. Del Rosario those in MPIF “feel an even stronger sense of responsibility and accountability to further improve our programs and serve a greater purpose.”

“We are privileged to have a partner in Huawei Technologies, a company that is not only reliable but equally determined to achieve our goals for the present and for the future through Gabay Kalikasan,” she added.

Meanwhile, Mr. Guo said: “MPIC is known for its effective and long-term sustainability programs. Huawei Philippines would like to join MPIC’s programs and be part of the great contributors to the Philippines.”

MPIF said its strategic program is geared towards three fronts of social infrastructure: education, environment and economic empowerment.

Huawei promotes the use of technology to support sustainability to keep people ahead in the digital world.

“Huawei’s strategy centers on digital inclusion, security and trustworthiness, environmental protection, and healthy and harmonious ecosystem, which are aligned with the UN Sustainable Development Goals,” the MPIC statement said.

Style (08/02/21)

UNIQLO.com marks 1st anniversary with exclusive offers and promos

UNIQLO Philippines is celebrating its online store’s 1st anniversary by offering limited edition items and new collections, exclusive offers, special promotions and premiering online events from July 30 to Aug. 5. The newest payment option, Cash on Delivery, is also now made available for an easier shopping experience. Now existing and new customers can purchase items through the website or from the UNIQLO App and pay for items to the delivery rider once items arrive at their doorstep. Among the anniversary promos, AIRism Masks will be given to those who download the UNIQLO app during the anniversary celebration period from July 30 to Aug.5. Customers who purchase LifeWear items worth P5,000 or more until Aug. 1 from UNIQLO.com or the UNIQLO app will also be given a limited-edition tote bag designed by Trese co-creator Jonathan A. Baldisimo. Customers can also get a 25% cash rebate for qualified members who use their JCB Credit Card for a minimum single receipt purchase of P4,000 from UNIQLO.com or on the UNIQLO app. A free Coffee Bean Tea Leaf Swirl Rewards Card will also be given to customers when purchasing items through the Click & Collection option. Special offers are also available on select LifeWear pieces such as the Men’s and Women’s U Crew Neck Short Sleeve Shirt now at P390, Men’s Pocketable UV Protection Parka at P990, Women’s Wireless Bra (Beauty Light) at P990, AIRism Bed Sheet now available at P1,490 to P2,490, Kids’ Easy Shorts at P390, and Baby Toddler Leggings at P290. In an exclusive online event on the UNIQLO Philippines Facebook Page on Aug. 4, actor-athlete Matteo Guidicelli will show how to wear and move with UNIQLO’s Sport Utility Wear and Athleisure pieces when stretching or exercising. To know more about the special offers and promotions during the anniversary celebration, visit https://www.uniqlo.com/ph/en/spl/anniversary.

Harlan + Holden releases the 02 collection

THE LATEST collection of Alessandra Facchinetti, the Harlan + Holden 02 collection, is meant to be one’s 7/7 weekday to weekend uniform by focusing on key pieces that not only work for any time of the day, but for any day of the week. It aims to showcase how the customer can build a wardrobe with staples that can be easily mixed and matched. To check out the collection, visit the website at www.harlanholden.ph and Instagram @harlanholden.

Céleteque releases new micellar cleansers

THE SECRET to great skin is proper cleansing — whether you spend the day outside wearing a mask or inside working in front of a laptop, dirt and unnecessary oils accumulate throughout the day. While facial washes are great for one’s skin, there’s always stubborn dirt and makeup that doesn’t go away by simply washing one’s face, double cleansing is necessary. So here come the newly launched Céleteque Micellar cleansers in two variants: Céleteque Hydration Micellar Water cleanses and moisturizes, removing dirt and makeup without stripping one’s face of moisture, plus improving skin moisture by 35% upon application; and, Céleteque Brightening Micellar Milk which cleanses, brightens, smoothens skin thanks to its Vitamin B3 to help brighten the skin and Rice Milk Extract to help soften the skin in as early as seven days, as the brand promises. Both products are dermatologist-tested to be hypoallergenic and safe for everyday use. They are also non-comedogenic, paraben-free, and alcohol-free. Céleteque Hydration Micellar Water is available for P169 (250 ml) and Brightening Micellar Milk for P199 (250ml) at www.celeteque.com, and major supermarkets, drugstores, beauty stores, and e-commerce marketplaces nationwide.

Contemporary Pinoy touch at Studio Artesan

RUSTAN’S believes there’s something to be said for the timeless quality of traditional, Filipino design, and has opened its Studio Artesan concept, dedicated to local, hand-crafted and ethically made products. Some of the home décor, furniture, and lifestyle brands there are Amber and Anne, known for handmade beaded placemats and coasters which combine natural raffia with pearls, table runners, embroidered table napkins, crocheted napkin rings, and hand-crafted bags made from sustainable materials; Manang PH, a social enterprise founded during the pandemic to support local artisans and weavers from Negros and Cebu, and focusing on products made from natural materials such as rattan and abaca; the Olive Tree Corp., known for its fine linens and original, digitally created prints on throw pillows, placemats, napkins, beddings, and even face masks; Philux furniture, offering contemporary takes on Filipino furniture classics made from high quality, sustainable materials; Tadeco Home, which creates décor made from the woven tribal cloths of indigenous Mindanao tribes, including votives, candle holders, lighting fixtures, and cushion covers that are made out of abaca fiber; Tienda Verda which focuses on items made from inabel; WVN Living which features a variety of home products from kitchen and dining to bed and bath, and outdoor collections created by women weavers in Bangar, La Union, Cavite, Isabela, and Albay; Casa Mercedes’ Monchet y Cia, a bespoke line of artistic fans made from Filipino fabrics and accentuated with unique embellishments; Mithi, which reinterprets traditional Filipino wear such as barongs into modern silhouettes; Pili Ani skincare line developed from pili and elemi oils; Silnag jewelry line, made from recycled byproducts from the Philippine food and farm trade such as water buffalo horn, cow bone, shell, and scrap wood; and, Theo and Philo bean-to-bar single origin chocolate which comes in uniquely Filipino flavors such as Milk Chocolate Turon and Dark Chocolate with Calamansi. Shop Studio Artesan at the www.rustans.com/pages/studio-artesan, at the 2nd level of Rustan’s Makati, or through the Personal Shopper On-Call at 0917-111-1952.

Hogan releases Fall/Winter 2021 collection

THIS Fall-Winter season, Hogan launches new sneaker models that are fashionable and versatile. The new H585 for women is revisited with contemporary color combinations and a sculptural silhouette. The ergonomic design comes with fluid lines, a super lightweight sole and a memory foam footbed. The latest H580 for men combines the iconic H logo with a contrasting shade and a clean silhouette for a casual chic look. It is structured with an EVA extra-light sole unit and a memory foam footbed, providing an instant elevation. The classic Hyperactive men’s sneakers feature an extra-light, chunky out sole with a sleek trim on the thermo-formed upper. Crafted in leather with shiny patent leather detailing, this limited-edition style features side perforations, zigzag stitching and the Hogan logo stamped on the side. Characterized by the smooth and dynamic forms, the limited edition Hyperlight for women is an ultra-dynamic model with a memory foam insole and a lightweight outsole hand-decorated, featuring a leather upper enhanced by the technical touch loop on the back. In the Philippines, Hogan is exclusively distributed by Stores Specialists, Inc., with a shop located at Shangri-La Plaza.

Defensil Isopropyl Alcohol launches official Shopee and Lazada stores

DEFENSIL Isopropyl Alcohol has launched its new Shopee and Lazada flagship stores. More than a year in quarantine and as the country continues to roll out its coronavirus disease 2019 (COVID-19) vaccination program, experts continue to remind the public of the importance of following health protocols: from regular washing of hands, maintaining physical distancing, to always disinfecting with at least 70% alcohol solution, proper sanitation remains key to help prevent the spread of the virus. Defensil 70% Isopropyl Alcohol is recommended by the Philippine Society for Microbiology (PSM) as it kills 99.9% of germs and starts to kill them on contact, with up to 12 hours of protection with constant use. Defensil 70% Isopropyl Alcohol is now available in its online stores in 60 ml, 250 ml, 350 ml, 500 ml, one liter, and 3.7 liter bottles.

1...6,1656,1666,167...12,690Page 6,166 of 12,690
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube