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Inventory of frozen pork nearly doubles in late Oct.

PHILSTAR FILE PHOTO

THE INVENTORY of pork in cold storage rose 97.6% year on year to 83,329.39 metric tons (MT) as of Oct. 25, according to the National Meat Inspection Service (NMIS).

The NMIS said in a report that imported frozen pork accounted for 97.7% or 81,416.95 MT of the total.

Volumes in cold storage had risen 2.3% month on month and fell 0.4% week on week.

The Philippine Association of Meat Processors, Inc. (PAMPI) has said that the inventory pileup is due to the failure of the government to account for the lack of freezers in wet markets in the National Capital Region (NCR) and nearby areas, where the imports are authorized for sale.

“Stall owners in wet markets do not have freezers. They barely have enough capital to pay for daily deliveries of fresh pork. So how can they sell imported pork even if they are priced cheaper?” PAMPI said.

The Department of Agriculture (DA) recently issued Memorandum Circular No. 23, which expanded the authorized sale outlets for imported pork to areas with “relatively high prices” of pork meat outside of the so-called NCR Plus region, which includes Bulacan, Rizal, Laguna, and Cavite.  

It said the directive was issued in response to the low utilization of the new minimum access volume (MAV) quota for pork imports due to restrictions on their sale.

Previously, pork imports were only permitted for sale in wet markets, supermarkets, and Kadiwa outlets within NCR Plus.

Rolando E. Tambago, Pork Producers Federation of the Philippines, Inc. president, told BusinessWorld via mobile phone that the memorandum circular did not specify where market coverage will be expanded.

“There are still huge inventories of imported pork in cold storage especially in the National Capital Region (NCR), Central Luzon, Calabarzon, and Cebu. It is more than double the usual or even much more inventory versus the same period last year,” Mr. Tambago said.

“Our members in the Visayas and Mindanao are currently sending a lot of surplus pork to Luzon. Instead of focusing on imported pork, the DA should focus its attention on helping out hog farmers to in transporting pork to Luzon from the Visayas and Mindanao,” he added.  

The volume of imported pork allowed to enter the country was increased by President Rodrigo R. Duterte under Executive Order (EO) No. 133, which expanded the MAV quota by 200,000 MT to 254,210 MT.

Pork imports within the MAV quota are charged lower tariffs compared to imports exceeding the MAV.

Mr. Duterte also signed EO 134, which lowered the tariffs on all pork imports, within or beyond the MAV quota, for one year.

Both directives were issued to address supply and price issues after the hog inventory was depleted due to the ongoing African Swine Fever outbreak. — Revin Mikhael D. Ochave 

PayMaya speeds up full rollout of QR Ph for merchant payments

DIGITAL payments firm PayMaya Philippines, Inc. on Sunday said it is accelerating the nationwide rollout of QR Ph, the country’s Quick Response (QR) code standard for merchant payments, across its enterprise base.

“The company has rolled out the most number of QR Ph P2M (person-to-merchant) acceptance points across its enterprise base, now at over 160,000,” PayMaya said in an e-mailed statement.

“The number includes both online and on-ground touchpoints for all types of merchants, including large companies, government agencies, and MSMEs (micro, small, and medium enterprises),” it added.

The Bangko Sentral ng Pilipinas (BSP) introduced the QR code standard in April to enable P2M payments, with the goal of boosting the digitalization of small enterprises in the country.

“We are excited to be at the forefront of the full rollout of QR Ph P2M. It’s a boost, especially for our enterprise customers, as they can start accepting payments from more consumers using just their QR Ph P2M code enabled by PayMaya,” PayMaya President Shailesh Baidwan said.

“This is a major step towards building a stronger payment ecosystem across businesses, consumers, and the government,” he added.

With the QR Ph P2M, businesses can accept QR payments regardless of their customers’ bank or e-wallet accounts.

“PayMaya enterprises equipped with a QR Ph P2M code can now accept payments from consumers who have accounts with AllBank (A Thrift Bank), Inc., Asia United Bank Corp., Cebuana Lhuillier Rural Bank, China Banking Corp., Land Bank of the Philippines, Rizal Commercial Banking Corp., Starpay, UnionBank of the Philippines, and USSC Money Services, Inc.,” the digital payments firm said.

A report from the BSP and the Better than Cash Alliance showed digital merchant payments climbed 33% in 2019, backed by low value retail transactions.

The study also found remittances and merchant payments done digitally climbed 39% and 66%, respectively, in 2019 from a year earlier.

PayMaya is a subsidiary of Voyager Innovations, Inc., the digital arm of PLDT, Inc.

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

A journey to premium

M Hybrid versions of the Mazda3 and Mazda CX-30 — PHOTO FROM MAZDA PHILIPPINES

Mazda Philippines will welcome a reworked lineup, mild hybrid powertrains, and more niceties for its discriminating clientele

IT’S BEEN PRETTY clear these past many years that Mazda has begun elevating itself into a premium car brand — even already defining its own proprietary concept of “Mazda Premium” since the launch of one of its most beautiful creations yet: the latest-gen Mazda3. It is also common knowledge that more and more consumers have begun noticing (internationally, mind you) how Mazda products have evolved into vehicles of impressively high quality and workmanship, that it is actually becoming the go-to brand for people who wish to enjoy the pleasures of refinement without having to dive straight into luxury-brand prices.

Aligned with these ideals, Mazda Philippines recently announced its upgraded product range for 2022, which it calls its “Mazda Premium Collection.” These cars are the 2022 Mazda2, the 2022 CX-3, the 2022 Mazda3 (which will now also carry mild hybrid technology), and the 2022 CX-30.

“Mazda’s journey to premium continues into 2022,” shares President and CEO of Mazda Philippines Steven Tan. “We are committed to raising the standards of design, quality, performance, environmental sustainability, and safety in every vehicle category we are present in. We owe it to our customers to give them the same luxurious, fuel-efficient, technologically advanced and astoundingly safe Mazda models that are also available in the rest of the world,” he adds.

Steven Tan also emphasized that the 2022 Mazda Premium Collection lets its exclusive clientele “create an even more lasting bond with their cars as they experience only the finest products and services they deserve.”

Also important to note is that Mazda Philippines pointed out its mother company’s (Mazda Japan’s) Sustainable Zoom Zoom 2030 Vision. This vision identifies the important elements of the brand’s long-term goal to help in reducing global carbon emissions. Mr. Tan nevertheless also points out that, alongside this, Mazda continues to invest in ICE (internal combustion engine) technologies, as it feels that there will still be a place for ICE vehicles long into the coming future.

Mazda Philippines was proud to announce that the latest Mazda2 compact car will enjoy key improvements this 2022. Among them are new sports LED daytime running lights and black, 16-inch alloy wheels to enhance its sporty profile. As this is part of the Premium Collection, it will also come with handsome leather seats finished in a dark blue hue. A new wireless charging pad will be available in the vehicle, as will Smartphone Mirroring and wireless Apple CarPlay.

The 2022 Mazda2 will likewise be upgraded to carry six air bags, alongside a suite of i-Activesense safety features such as lane departure warning, rear-cross traffic alert and blind spot monitoring. Mr. Tan emphasizes that “the Mazda2 remains to be the gateway to the Mazda brand.”

Meanwhile, the Mazda CX-3 — the brand’s hot-looking compact crossover — is bound to receive design and feature enhancements specific to each variant. Both the Sport and Elegance variants will now come with wireless Apple CarPlay as standard. Audio quality will be elevated to the next level with a seven-speaker Bose sound system. Its security and safety features will become standard for both variants.

Most impressively, the 2022 Mazda3 will now break Mazda’s e-Skyactiv-G Mild Hybrid (M Hybrid) technology into the country. It mates a DC/DC converter with an integrated starter generator (ISG) and uses a friction brake coordination system that feeds energy into a 24V lithium ion battery. This makes a huge difference in fuel economy and more especially when it comes to carbon emission reduction. Furthermore, this tech not only reduces engine load on the 2.0-L Skyactiv-G, but also improves on overall engine performance.

The 2022 Mazda3 M Hybrid will be available in both fastback and sedan body types. It’s an exciting time and also a new age for Mazda in the Philippines! Steven Tan explains that the 2022 Mazda3 “symbolizes Mazda’s aspirations to be a vehicle manufacturer that aims to create a lasting bond between driver and car, while being responsible stewards to both Earth and society.”

Finally, the 2022 Mazda CX-30 will be exclusively available in front-wheel drive M Hybrid configuration. This will reward the car with an even smoother drive than before and of course, better vehicle mileage. Its wheels will feature high-gloss black to identify itself as carrying the new powertrain.

Mr. Tan remarked that “in line with Mazda’s global initiatives, we see the introduction of the 2022 CX-30 e-Skyactiv-G M Hybrid as the first step for us to participate and be relevant partners in achieving the brand’s goals.”

Ed Sheeran releases album while isolating for COVID

EDSHEERAN.COM

LONDON —  Music star Ed Sheeran released his fourth solo album, entitled “=” (equals), on Friday while isolating for COVID-19 (coronavirus disease 2019), saying he was going to celebrate with a “solo party.”

The singer, known for chart-topping hits such as “Shape of You” and “Thinking Out Loud,” had told fans earlier last week he had tested positive for the coronavirus, and had canceled all in-person events to promote his new record.

“I’m obviously still in COVID isolation but please let me know what you think when it’s out. It’s the most proud (I’ve) ever been of a (piece) of work and I can’t wait for you all to hear it,” he said on Instagram on Thursday evening.

“Gonna be having a solo party tonight and tomorrow to celebrate, blast it loud.”

Mr. Sheeran, who has named his previous solo albums after mathematical symbols, has said that this latest one was his favorite record that he had made, with songs about his wife and daughter.

Critics said the Grammy Award winner, who has sold more than 150 million records worldwide, had stuck to his successful formula of honest lyrics in the new album.

“It’s business as usual for the Suffolk (England) singer-songwriter, who’s turned in a fourth album of undeniable hits and savvy, sickly-sweet concoctions,” music site NME said, giving the record three out of five stars.

“To some tastes, Sheeran will be corny and trite. Yet what he does well is essentially inarguable: provide songs that fulfil the emotional needs of universal moments,” Britain’s Telegraph newspaper said, giving it four stars. — Reuters

Yields on gov’t debt drop

DEBT YIELDS at the secondary market edged lower on Friday following the seven-year bond auction and external developments, but expectations of persisting price pressures kept rates elevated, analysts said.   

Yields on government securities (GS) fell 2.24 basis points (bp) on average week on week, based on PHP Bloomberg Valuation Service Reference Rates as of Oct. 29 published on the Philippine Dealing System’s website.  

At the short end of the curve, yields on the 91- and 182-day Treasury bills (T-bills) declined by 1.65 bps and 0.94 bp, respectively, to 1.2131% and 1.4488%. Meanwhile, the 364-day papers inched up by 1.24 bps to fetch 1.6228%.

At the belly, the rates of the two-, three-, four-, five-, and seven-year Treasury bonds (T-bonds) decreased by 0.36 bp (to 2.3758%), 1.66 bps (2.8815%), 2.25 bps (3.3554%), 3.17 bps (3.7771%), and 7.55 bps (4.3981%).

The 10- and 25-year T-bonds saw their yields fall by 11.8 bps to 4.8512% and 1.7 bps to 5.2138%, respectively. On the other hand, the rate of the 20-year papers climbed by 5.24 bps to 5.1552%.   

“Local bond yields moved range-bound on strong two way-interest week on week. After few weeks of heavy selling, the GS market finally found some reprieve after global oil prices and US Treasury yields showed some signs of stabilization,” a bond trader said in a Viber message.   

“Market also took cues from the government’s seven-year issuance which the BTr (Bureau of the Treasury) partially rejected,” the bond trader added.

The BTr raised just P19.315 billion via the reissued seven-year T-bonds it sold on Tuesday, less than the programmed P35 billion, even as the paper attracted P57.215-billion worth of bids.   

The notes, which have a remaining life of six years and nine months, fetched an average rate of 4.468%, 26.1 bps higher than the 4.207% quoted when the series was last offered on Oct. 5. 

Bank of the Philippine Islands Lead Economist Emilio S. Neri, Jr. said via Viber that despite the BTr’s rejection of bids during last week’s auction, yields have remained elevated as the market is “aware that domestic inflation is bound to remain high” despite the government’s efforts.

“Elevated prices in oil and other energy markets combined with enduring supply concerns have fueled expectations that high inflation could be a lot more persistent than originally expected. We also continued to see more central banks (e.g., the Bank of Canada) hinting that they could hike rates much earlier than expected as inflation remains stubbornly high,” Mr. Neri added.    

The Bangko Sentral ng Pilipinas (BSP) expects inflation to have settled between 4.5%-5.3% in October, above its 2-4% target and 4.4% forecast for the year. As of September, inflation averaged 4.5%.   

The Philippine Statistics Authority is scheduled to release October inflation data on Friday.

“Any surprises on the inflation or hawkish rhetoric from monetary authorities around the world [this] week will likely affect the long end of the curve more. We expect the BSP to continue downplaying the October inflation print as merely transitory and will unlikely affect their policy setting in either their November or December meeting,” he added.

Mr. Neri said the absence of an interest rate hike means yields at the short end of the curve “will remain artificially low, just as economic fundamentals push other parts of the curve higher.”

“An [inflation print] above 5% might exert more upward pressure on yields,” he said.

The BSP’s next monetary policy meeting is scheduled on Nov. 18.   

“All eyes are now on the FOMC (Federal Open Market Committee) meeting and the Philippine CPI (consumer price index) release for the month of October, where these risk events will set the tone of trading in the near-term,” the bond trader said.   

“Until then, yields are just expected to move sideways with slight upward bias.”

US central bank officials are set to meet on Nov. 2-3. — Bernadette Therese M. Gadon

Wilcon Depot’s upbeat Q3 earnings attract investors

By Ana Olivia A. Tirona, Researcher

INVESTORS loaded up on Wilcon Depot, Inc. last week after upbeat third quarter earnings report.

Data from the Philippine Stock Exchange (PSE) showed a total of 25.38 million Wilcon shares were traded last week worth P779.92 million, making it the 15th most actively traded stock between Oct. 25 to 29.

The home improvement and construction supplies retailer closed at P31.20 per share on Friday, 9.9% higher than its closing price of P28.4 apiece on Oct. 22. Likewise, the stock shot up by 73.5% since the first trading day of 2021.

Its stock movement was driven up last week after the release of its third-quarter earnings report, Globalinks Securities and Stocks, Inc. Head of Sales Trading Toby Allan C. Arce said in a Viber message on Friday.

“The home improvement and construction supplies retailer easily beat last year’s third quarter performance, but due to the movement restrictions applied as a result of the [coronavirus disease 2019] Delta variant, WLCON’s third quarter numbers underperformed its second quarter numbers by a small margin,” he said, referring to the stock’s ticker symbol.

“WLCON also enjoyed higher third-quarter 2021 earnings thanks to tax savings that cushioned a slump in sales and an increase in operating expenses,” he added.

Wilcon’s third quarter net sales dipped by 1.9% to P6.62 billion from P6.749 billion a year ago, weighed down by nearly two months of mobility restrictions implemented back in August of this year.

Its January to September revenues meanwhile jumped by 27% to P20.05 billion from P15.79 billion a year earlier amid “generally uninterrupted operations” in Luzon.

On the other hand, the depot’s net income for the July to September grew by 16.7% to P662.14 million from P533.21 million logged in the same period last year.

This brought the nine-month net earnings to P1.87 billion, more than double the P885.57 million it earned last year.

This “sustained recovery” in both Wilcon’s top line and bottom line prevented the stock from vulnerable market sell-off last week, China Bank Securities Corp. Research Associate Lance Gabriel U. Soledad said in a separate e-mail interview.

“[The depot] is still a viable long-term investment given that it can still further take advantage of the growing local economy/home improvements industry as it remains a market leader and it looks to expand its nationwide store network to 100 by 2025,” he added.

Wilcon operates 63 stores nationwide, 56 of which are depot formats and seven are smaller “Home Essentials.”

It plans to open a total of nine new depots this year and one Home Essentials branch. It launched seven depots and one Home Essentials to date.

“Shareholders would like to see WLCON finish off its nine-store expansion within this year and continue margin buffering through its product mix adjustments that have so far had a positive impact,” Mr. Arce said.

Mr. Arce expects Wilcon’s bottom line to finish P2.5 billion for 2021 and P3.1 billion for 2022.

For resistance and support levels this week, he forecasts P31.60 and P29.60, respectively.

Meanwhile, Mr. Soledad expects the stock to consolidate between P28.00 and P33.00 this week.

Palay production costs top P47,000 per hectare in 2020

PHILSTAR

THE average cost to produce palay, or unmilled rice, rose 1.7% in 2020 to P47,089 per hectare (/ha), according to the Philippine Statistics Authority (PSA).

The PSA said in a report that rice farmers absorbed costs during wet season cropping of P47,196/ha compared to the dry season cost of P46,650/ha.

The PSA said the average production cost of rice farmers on a per kilogram (/kg) basis was P11.52/kg in 2020, up 0.6%.

“By region, the average cost of producing palay was highest in Ilocos Region at P64,776/ha. Likewise, the region entailed the biggest cost during the dry season cropping at P66,336/ha. Cagayan Valley recorded the biggest cost at P66,580/ha during wet season cropping,” PSA said.

“Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) listed the lowest cost of producing palay at an average of P37,271/ha. In both seasons, the region also registered the lowest of P38,610/ha during the dry season and P35,197/ha during the wet season,” it added.

According to the report, the average farmgate price of palay in 2020 was P16.76/kg, down 1.1%.  

The PSA said the average net return of palay farmers dropped 3.7% to P21,430/ha in 2020.

Asked to comment, Federation of Free Farmers National Manager Raul Q. Montemayor told BusinessWorld via mobile phone that the interventions under Republic Act No. 11203 or the Rice Tariffication Law have not posted significant results.

“These results indicate that the interventions of (the Department of Agriculture) … in terms of reducing costs of production and improving yields have not had any significant result. As a result, farmers ended up with significantly less income due to lower farmgate prices,” Mr. Montemayor said.

President Rodrigo R. Duterte signed the law in 2019, allowing private parties to import rice more freely in exchange for the payment of a 35% tariff on Southeast Asian grain.

The law also created the Rice Competitiveness Enhancement Fund (RCEF), which seeks to modernize the rice industry. It is to be provided P10 billion a year between 2009 and 2024 from rice tariffs.

“The results for the first two years show that we are still a long way off the targets of improving yields by and reducing costs of production, despite the billions in RCEF and other supplemental funds poured into the rice sector,” Mr. Montemayor said.

Jayson H. Cainglet, Samahang Industriya ng Agrikultura executive director, said in a mobile phone interview that the PSA report validates the data on the ground.

“From the perspective of the producers, the bottom lines are lower cost of production, increase in the farmgate price, and affordable basic food. On all three counts, the government has failed as PSA data would show,” Mr. Cainglet said. — Revin Mikhael D. Ochave 

Ford PHL, Motolite, PBSP partner for Balik Baterya Program

PHOTO FROM FORD PHILIPPINES

FORD PHILIPPINES said in a release that “there is no safe level of lead exposure.” It is toxic and harmful not only to the environment but to the health of people and animals. Having said that, lead is still used for select products such as batteries. Ford Philippines shared that, according to the United Nations Environment Programme, “around 86% of the total global consumption of lead is for the production of lead-acid batteries.”

In view of this, and the fact that a large number of batteries are produced each year, their proper disposal and recycling is of utmost importance. “To help address this problem, Ford Philippines, together with Ford dealers nationwide, Motolite, and the Philippine Business for Social Progress (PBSP) forged a collaboration to recycle used lead-acid batteries (ULABs) through the Balik Baterya Program,” the company said in a release.

“Through the Balik Baterya Program, we are able to bring to life Ford’s global commitment on environmental sustainability in the Philippines, and work with our Ford dealers and like-minded partners such as Motolite and PBSP to reinforce this advocacy. At the same time, the program provides an opportunity for our dealer partners to create and even expand their corporate social responsibility (CSR) programs to support more beneficiaries,” said Ford Philippines President and Managing Director Michael Allen Breen.

One of Ford’s dealer partners, the Laus Group, has taken a step forward in being the pioneer dealer group to implement the Balik Baterya Program early this year. “Being in the business of automotive dealerships, we knew that the PBSP’s Balik Baterya Program was a great way for us to create a positive impact, as we push to incorporate sustainability in the way we do business. It is our hope that through this program, we are able to affect change in our communities by pioneering sustainable business practices, geared towards promoting progressive development not just in the countryside but nationwide that is now shared by all,” said Laus Group Dealer Principal Lisset Laus-Velasco.

Started in 2006, the Balik Baterya Program is Motolite’s flagship CSR initiative advocating for the proper disposal and “legitimate recycling” of ULABs to protect the environment from hazardous wastes. The used batteries are reprocessed and recycled for commercial use. Even better: The proceeds from the used batteries are then used to fund development projects for communities in need such as provision of new classrooms, school desks, books, and supplemental feeding for children.

“Around 5,825 tons of ULABs are what the Balik Baterya Program partnership with PBSP has been able to recycle. More so, these wastes transformed to the greater goal of advancing communities through funding social development programs,” said Corporate Citizenship and CSR Manager Khairon-Niza Magundacan. The recycling program has made around P147 million — supporting and funding 169 projects nationwide for 115 public schools and communities.

Style (11/01/21)

Furla Portagioia

Trunc marks 1st year with promos

MULTI-BRAND e-commerce site Trunc.ph, which launched on Nov. 6, 2020, has become known for its unique concepts, which bring together many of the SSI Group’s brands across four categories: Trunc for lifestyle brands; Trunc Show for luxury brands; PowderRoom for exclusive beauty collections; and Trunc at Home for fine furnishings, accessories, wine, and food. Today it has the most number of locally distributed luxury brands and is also the only retail site in the country that carries luxury, bridge, beauty, home, and food all in one platform. Trunc is spotlighting collections featuring new brand collaborations like Marc Jacobs x Peanuts and BOSS x Russell Athletic. Trunc’s newest brand additions also include DKNY and Longchamp. The digital stand-alone boutique is onboarding more European fashion brands in the coming months. It also offers easier access to sought-after runway pieces ranging from shoes, bags, and handbags at Salvatore Ferragamo’s Virtual Store. Beauty and skincare enthusiasts can find Fenty Beauty, Hourglass, Biotherm, Philosophy, SKII, and Nest at PowderRoom, with Juice Beauty, Huda Beauty, Kerastase, and Payot coming soon. To mark its first year, Trunc.ph offers Free Shipping on its birth date Nov. 6. The limited-time offer can be used multiple times and on top of other promos. Brand exclusions apply. From Nov. 3 to 7, all shoppers will receive a P500 voucher, which can be redeemed from Dec. 1 to 31 with a minimum spend of P1,500. The voucher is applicable on regular, sale, and even markdown items. Brand exclusions apply. In addition to the voucher, customers can avail 10% off on regular, sale, and markdown items by using the TRUNCBDAY promo code. The discount can be used multiple times within Nov. 3 to 7 and is applicable on top of other vouchers. Brand exclusions apply. With offers and discounts up to 70% off across Trunc.ph’s brands and concepts, select labels are headlining a series of flash sales from Nov. 3 to 7 at 9 to 10 a.m. and 8 to 9 p.m. This includes Banana Republic, Furla, Old Navy, BOSS, GAP, Polo Ralph Lauren, Calvin Klein, Marks & Spencer, Springfield, Charriol, and Nine West. Visit Trunc.ph to discover its birthday offerings.

Glorietta opens new flagship stores, retail concepts

GLORIETTA is now home to brands that highlight two pillars prevalent in the new normal lifestyle in the newly rejuvenated fitness and wellness zone. The largest Adidas store in the Philippines — 1,500 sqm — opened its doors at the 2nd level of Glorietta 3, a space that blends several features, including advocacies, innovations, and exclusive store features. Nike, meanwhile, moved to a new location with up to 900 sqm of retail space. Located on the 2nd floor of Glorietta 3, the store features a new concept known as Nike Rise, highlighting a more personalized shopping experience that connects clients with their sports and communities. One of the largest sports retail chains in Europe is coming to Glorietta in 2022: Go Sports. Featuring a unique store concept staffed by former athletes, it carries a full range of athletic equipment and necessities. Given the expertise of the store personnel, customers can be assured of proper equipment demonstration and guidance when looking for specific products. The space is also designed to provide an experiential shopping experience with multiple product displays that customers can try out. Glorietta is also launching its first-ever wellness specialty zone known as Wellness Place. This all-in-one self-care haven includes stores and merchants ranging from haircare to skincare, beauty salons, and boutiques. Those looking for a trim or a new hairstyle altogether can visit Headway Salon and T&J Salon. Meanwhile, Skin Station offers affordable skincare treatments like Painless Diode Laser Hair Removal, facials and peels, whitening and anti-aging treatments, and more. Waxing sessions are also available at LayBare for both men and women. Also opening is Surge Fitness, a 1,384-sqm gym with premium facilities, including a functional training area, indoor turf, free weights, machine area, virtual reality fitness, state-of-the-art group class studio, interactive spinning area, sauna room, and more. It also has a play zone for fun and interactive games shared with friends. It is managed by certified fitness coaches. Surge Fitness operates in compliance with the Department of Health (DoH) and the Inter-Agency Task Force (IAFT), thus observing mandatory safety protocols and operational hours. For more information on store openings, ongoing promos, mall events, and safety measures, visit Ayala Malls https://www.facebook.com/AyalaMalls360/ or through IG @iloveayalamalls.

Uniqlo opens Live Station

JAPANESE global brand Uniqlo brings more shopping convenience with the launch of Uniqlo Live Station. Available on Uniqlo’s Facebook, IGTV, and YouTube pages, this online event series aims to give customers a new and fun way of shopping for their LifeWear clothing essentials. Hosted by Justin Quirino and celebrity fashion stylist Bea Constantino, the first episode showcases the latest Uniqlo AIRism Collection. AIRism is clothing made with a fiber material that absorbs the water vapor more quickly than ordinary polyester and diffuses moisture using a quick-drying capillary effect. During the online event, the hosts demonstrate how AIRism works by showing how quickly it takes for the clothing pieces from the collection to absorb moisture. Viewers were also shown different ways to style the AIRism pieces based on various everyday activities. Customers can visit the official feature page for Uniqlo Live Station at https://www.uniqlo.com/ph/en/spl/live-station. This will house all succeeding Uniqlo Live Stations and will include the complete list of products worn by the host and stylist. They can rewatch the first episode at Uniqlo Philippines’ official Facebook page, Instagram Page and YouTube channel. Stay tuned for succeeding Uniqlo Live Station episodes and upcoming events for special offers and promotions, including the upcoming 11.11 Big Mega Sales Day. For more updates, visit Uniqlo Philippines’ website at uniqlo.com/ph and download the Uniqlo app via Google Play Store or Apple Store.

Boss and NBA launch 2nd co-branded capsule collection

BOSS has announced the launch of its 2nd co-branded capsule collection with the NBA, following the success of the first season, launched earlier this Spring. The Fall/Winter 2021 co-branded collection focuses on the merging of iconic NBA team logos with signature BOSS lettering. The new graphics are seen across 11 styles, including hoodies, T-shirts, sweatshirts, joggers, jackets and more. The logos of the Boston Celtics and Dallas Mavericks join last season’s line-up of the Brooklyn Nets, Chicago Bulls, Golden State Warriors, Houston Rockets, Los Angeles Lakers, Miami Heat, New York Knicks and Toronto Raptors along with the NBA Logoman. The collection is now available in select European, South East Asia and Asia Pacific countries. In celebration of the capsule collection, BOSS has released a special social media campaign featuring three-time NBA champion Klay Thompson and TikTok creators Cole Micek and Koby Lomax. The campaign showcases the three wearing designs from the latest capsule release. To celebrate the exclusive launch of the BOSS & NBA Fall/Winter 2021 collection in the Philippines, the items will be available at a two-Week Pop-up at Level 1, Central Square from Oct. 29 to Nov. 12. Customers will receive exclusive gifts with purchase. The collection will be available in BOSS stores afterwards.

Garnier Vitamin C Serum garners over 21,000 5-star reviews

GARNIER Vitamin C Serum has received over 21,000 five-star reviews on Shopee and Lazada, with over 100,000 Filipinos having tried the product. The Vitamin C serum contains 30 times the Vitamin C concentration of typical vitamin C serums, making it Garnier’s most concentrated formula and giving it the brightening power to fade and lighten dark spots and acne marks in just three days. The Garnier Vitamin C Serum is easy to add to existing skincare routines and it is best used between toner and moisturizer. The Garnier Vitamin C Serum comes in three sizes (7.5 ml sachet, 15 ml and 30 ml bottles) and in a twin-pack for extra savings. It can be found on the official Garnier stores on Shopee Mall, LazMall, Watsons drugstores, and all leading supermarkets nationwide.

Hender Scheme, Tod’s collaborate

TOD’S introduces the fourth installment of the Tod’s Factory project, a creative laboratory in which established and emerging designers are invited to offer their point of view on the Tod’s DNA and its iconographic heritage, by giving them access to Tod’s craftsmen in the Marche region of Italy. The result is a range of capsule collections and limited-edition pieces within the season, with a strong focus on experimentation. Hender Scheme, the Japanese brand founded in 2010 by Ryo Kashiwazaki, has been chosen for this fourth collaboration. Working alongside Tod’s creative director Walter Chiapponi, Mr. Kashiwazaki devised a capsule collection of shoes, bags and apparel that combines heritage and icons of Tod’s with Hender Scheme’s creative and experimental approach, creating a connection that draws a seamless line. The capsule collection was presented in September with an event during Milan Fashion Week and is now available in select Tod’s boutiques, on Tods.com, at 10 Corso Como in Milan and Seoul, Dover Street Market in Tokyo, Beijing and Singapore and Hender Scheme’s flagship store “sukima EBISU” and “sukima” official online store. In the Philippines, Tod’s is exclusively distributed by Stores Specialists, Inc., and is located at Greenbelt 4, Rustan’s Shangri-La, and Shangri-La Plaza and online at Trunc.ph, Rustans.com, Zalora, and Lazada.

How PSEi member stocks performed — October 29, 2021

Here’s a quick glance at how PSEi stocks fared on Friday, October 29, 2021.

Analysts’ October 2021 inflation rate estimates

INFLATION likely quickened in October amid a continued rise in pump prices and a spike in food costs due to a severe tropical storm, analysts said. Read the full story.

Analysts’ October 2021 inflation rate estimates

Peso likely to weaken vs dollar on expectations of high inflation

BW FILE PHOTO

THE PESO is seen to weaken versus the greenback this week amid expectations of faster inflation in October.

The local unit closed at P50.415 per dollar on Friday, gaining 29.5 centavos from its P50.71 finish on Thursday, data from the Bankers Association of the Philippines showed.

It also appreciated by 37.1 centavos from its P50.786 finish a week earlier.

The peso appreciated on expectations of the resumption of oil exports from Iran, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

Iran’s top negotiator said nuclear talks with six world powers could be renewed by the end of November, Reuters reported. A deal could lead to the lifting of sanctions on Iran’s oil exports.

The peso also strengthened on the back of the continued decline in coronavirus infections, as this could support further reopening of the economy, UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said.

Active cases increased by 4,008 to 47,690 on Saturday, based on data from the Department of Health.

Metro Manila will remain under Alert Level 3 until Nov. 14, the Palace announced on Friday.

Presidential Spokesperson Herminio “Harry” L. Roque, Jr. said they have kept the restriction measures to prevent the infections from spiking. It will also buy time for the government as it continues assessing whether to further ease restrictions, he said.

For this week, Mr. Ricafort said the market will monitor the inflation outturn for October. The Philippine Statistics Authority will release the inflation data for the month on Nov. 5.

A BusinessWorld poll of 21 analysts held last week yielded a median estimate of 4.9% for the consumer price index last month, matching the midpoint of the 4.5% to 5.3% forecast given by the Bangko Sentral ng Pilipinas (BSP).

If realized, October inflation would be above the 2-4% BSP target for the third straight month. It will also be faster than the 4.8% in September and the 2.5% seen a year earlier.

Analysts said food prices likely inched higher last month due to low supply caused by weather disruption. Continued increase in global oil prices also likely pushed inflation higher, they added.

Meanwhile, Mr. Asuncion said the market will take cues from the US Federal Reserve’s meeting this week.

The market is widely expecting the Fed to announce details of asset purchase tapering at the Federal Open Market Committee’s policy review on Nov. 2-3. However, markets have not yet priced in a rate hike, at least in the next few months.

For this week, Mr. Ricafort gave a forecast range of P50.20 to P50.60, while Mr. Asuncion expects the local unit to move within P50.50 to P51 per dollar. — L.W.T. Noble with Reuters

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