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Fitch cuts rating outlook on six Philippine banks to ‘negative’

FITCH RATINGS on Monday cut its outlook on rated local lenders to reflect the revision done for the Philippines, which could mean a rating downgrade in the next 12 to 18 months.

The debt watcher revised its outlook on six Philippine banks to “negative” from “stable” while maintaining their ratings a week after it did the same for the country’s “BBB” assessment.

Fitch covers government-owned Land Bank of the Philippines (LANDBANK) and Development Bank of the Philippines (DBP) and four commercial banks: Bank of the Philippine Islands (BPI), Philippine National Bank (PNB), BDO Unibank, Inc. (BDO), and Metropolitan Bank & Trust Co. (Metrobank).

Fitch last week said while the local banking industry remains sufficiently capitalized to withstand the stress caused by the pandemic, the crisis will cause a deterioration in assets and continue to affect revenues.

“The sluggish economic recovery is likely to continue to weigh on the banking system’s asset quality and financial performance in the near term, with the industry nonperforming loan (NPL) ratio expected by Fitch to rise to nearly 6% by end-2021 before improving in 2022,” it said in a commentary about its action on the Philippines’ sovereign rating outlook.

Fitch kept LANDBANK’s rating at “BBB” but said the revised “negative” outlook reflects their assessment of the weakening ability of the government to support the lender.

It added that LANDBANK’s viability rating, which assesses its intrinsic creditworthiness, will be negatively affected as it expects the lender to ease credit underwriting in order to increase financing for vulnerable borrowers and fulfill its mandate after it received a P27.5-billion capital infusion under Bayanihan II.

“LBP’s Viability Rating is weighed down by our perception of an increased risk appetite as it fulfils its policy role of stimulating lending to afflicted sectors of the economy,” Fitch said.

This possibility of a deterioration in assets due to less stringent credit standards to boost financing for the worst-hit segments of the economy may also be experienced by another DBP, which Fitch rates at “BBB-.”

“The bank stands out among major domestic peers with aggressive loan growth of approximately 19% in 2020, and we believe that extending financial relief to priority sectors has taken precedence over prudent credit screening and risk controls,” Fitch said.

COMMERCIAL BANKS

Meanwhile, BDO, BPI, and Metrobank, which all hold a “BBB-” rating from Fitch, are armed with their resilient funding and liquidity profiles despite the crisis, the debt watcher said, but a possible reduction in the government’s ability to boost the financial system’s liquidity due to emerging pressures is a risk for these lenders.

“Should business conditions continue to deteriorate, banks’ company profile scores will likely be revised down to reflect the more challenging operating environment, and we believe management’s strategic objectives may also be adjusted accordingly,” Fitch said.

The debt watcher said BDO’s profitability will remain challenged by declining asset yields, lower market-related income, and muted business volumes this year.

For BPI, a key risk will be credit costs that are expected to remain high as the bank continues to beef up its loan loss provisions amid deteriorating asset quality, it added.

Meanwhile, Metrobank is expected to benefit from its high loan-loss coverage ratio, which stood at 166% as of March. However, this buffer “could be rapidly consumed should the economic weakness be prolonged in light of its high concentration in large borrowers,” Fitch warned.

On the other hand, for PNB, which is rated “BB,” Fitch noted that its NPL ratio of 10.7% as of end-March is the highest among rated peers and significantly above the system average of 4.3% due to related-party corporate expo-sures, its shrinking credit book and weaker portfolio due to the economic downturn.

“We expect the bank’s impaired loans ratio to remain high in the next 12 months on continued credit migration of loans under debt moratoriums, which expired in December 2020, and the sluggish economic recovery,” Fitch said. — L.W.T. Noble

Arts & Culture (07/21/21)

Philbanda marks 10th year with virtual concert

THE CULTURAL Center of the Philippines (CCP) teams up with the Philippine Band Association (Philbanda) in bringing the latter’s decade-long celebration to the virtual screen through a concert billed as PERFECT 10 on July 24, 6 p.m., on the Facebook page of the CCP Office of the President. Featuring the 60-piece Philbanda Wind Orchestra, PERFECT 10 highlights a decade of symphonic performances from the country’s sole professional wind orchestra. This special virtual con-cert will also be graced by the Philippine Baton Twirling Association, and will be hosted by OPM artist Ice Seguerra. Herminigildo Ranera of the UST Conservatory of Music is the current conductor of the Philbanda Wind Orchestra. Young talents from Metro Manila and local participants from different regions will also showcase their talents in the premiere performance of Mr. Ranera’s New Normal Concert March, a rare opportunity for local musicians to perform alongside professional groups via virtual platforms. For updates and more information, follow the CCP Office of the President on Facebook.

Online kid’s puppet show tackles self-expression

THE FREE public interactive show Ang Red Dress ni Makisig, a 30-minute theatrical children-style hand-puppetry production, aids the youth about breaking gender norms while promoting innovative reading and storytelling. Set in the fictional Catacutan Elementary School, the play follows nine-year-old transfer student Makisig who decides to wear a bright red dress on his first day in class. The puppet show was directed by John Gamboa, and written by Jack Denzel Gaza, Arjay Rosales, and Gabby Serafico, all of whom are members of Sining LABinsiyam (SiLAB), a group of Filipino student-artists and thespians. It is produced in collaboration with the Quezon City Public Library and De La Salle-College of Saint Benilde Service Learning Team. Shows — to be livestreamed via Zoom and Facebook — are scheduled on July 23, 10 a.m.; July 24, 2 p.m.; and July 25 at 10 a.m. and 2 p.m. For more information, visit the official Facebook pages of SiLAB (https://www.facebook.com/SiLAB119) or Benilde Theater Arts (https://www.facebook.com/benildetheaterarts).

Gavel&Block ‘Interiors’ auction

EXPLORE Salcedo Auctions’ virtual gallery to view the “Interiors” auction line-up which features a selection of original fine art, decor, and furniture by local and international artists and artisans. The auction is on July 24, 11 a.m. Proceeds from the sale, done in partnership with Hands on Manila, will go to supporting Advancement for Rural Kids’ (ARK) Feed Back program to secure food and provide health benefits to a community in Pililia, Rizal. For more information, visit https://salcedoauctions.com/auction/87/interiors.

Rizal hybrid art exhibit in Tagum City

Exhibit area at the lobby of Tagum City Historical and Cultural Center

VISUAL artists from Tagum City made sense of Dr. Jose Rizal through the 18 artworks currently exhibited in the “1st Rizalian Values Art Competition and Exhibition,” the first-ever art exhibit mounted at the Tagum City Historical and Cultural Center. Themes on Rizalian values dominate the art pieces of mostly-millennial Tagumenyo artists, tackling the wide spectrum of the virtues the country’s national hero that he wanted to instill in the Philippine nation. The exhibition, originally scheduled last month in time for the 160th Birth Anniversary of Dr. Jose Rizal, is a hybrid as the artworks are physically exhibited at the Center’s lobby, while also part of a virtual exhibition. The winner of the competition is Reden Paa, whose intricate details in his work entitled Tapang ng Pangarap made his piece a solid standout. Elvis Goloran’s Kuya Rizalito Jr., and Roger Gamoro’s Gawa, Gabay, Pagmamahal were declared run-ners-up. Eleven of 18 artworks in the exhibit have already been sold to local art collectors. The works can be viewed via this link: bit.ly/RizalArt. The exhibition will end on July 25.

Two exhibits at Silverlens

SILVERLENS will open two exhibits on July 31 to run until Aug. 28. These are Gary-Ross Pastrana’s “Things That Came to Light” which focuses on his collages, and Chati Coronel’s “Celestial Data for Daydreaming,” a study of cosmol-ogy with each painting titled after one of the seven classical planets of ancient Greece. The gallery is at 2263 Don Chino Roces Ave. Ext., Makati City; opens Tuesdays to Saturdays from 10 a.m. to 4 p.m. Appointments can be made through 8816-0044, 0917-587-4011, and via e-mail at info@silverlensgalleries.com.

UST students bag NY Young Performers Prize

Victor Torres

FOUR students from the University of Santo Tomas (UST) Conservatory of Music earned recognitions in the 2021 New York Young Performers Prize (NYYPP) Competition held on April 18. Michael Valenciano, a student under the Bachelor of Music in Performance, major in Piano program, bagged the first prize in the Lucy Boyan Balakian Awards category, College division. Anyah Therese De Guzman, a student under the Bachelor of Music, major in Music Theater program, received the first prize in the Olly H. Kukepuu Vocal Awards, College–Musical Theatre division. For strings, Violin major Alain de Asis won the 2nd prize in the Aaron Rosand Memorial Prizes Category, College divi-sion. Fellow Violin major Victor Jan Luigi Torres received the Honorable Mention distinction in the same category. The NYYPP is an international competition organized by the Associated Music Teachers League, founded in New York City in 1925. The winners earned cash prizes. Their performances can be viewed on NYYPP’s final round video playlist: http://bit.ly/UST_NYYPP.

RIZAL@160 TULARAWAN Digital Art Contest

THE NATIONAL Commission for Culture and the Arts (NCCA) presents the RIZAL@160 TULARAWAN Digital Art Contest 2021 for Overseas Filipino Youth. The contest — open to overseas Filipinos ages 18 to 35 — aims to encourage participants to immerse themselves in Dr. Jose Rizal’s poetry and transform his literature to original creative digital artworks. RIZAL@160 TULARAWAN runs until Oct. 15. The winning entries will be announced in December in time for the commemoration of the Month of Overseas Filipinos and the 125th anniversary of Rizal’s martyrdom. Inquiries and submission of entries may be coursed through Sentro Rizal branches which can be found here: https://ncca.gov./sentro-rizal-3/sentro-rizal-branches/.

Still musical series on Viu

THE FIRST Filipino Viu Original musical, Still, is an eight-episode musical series about a group of aspiring artists who find themselves stuck in a music camp during the first couple of months of the pandemic. The series, directed by Treb Monteras, stars singers/actors Julie Anne San Jose and Christian Bautista, Bituin Escalante and Gab Pangilinan. Also in the cast are Gabby Padilla, Lance Reblando, Abe Autea, MC Dela Cruz, Chaye Mogg, Roco Sanchez, Ian Hermogenes, and Shaira Opsimar. It features music and lyrics by Nica Del Rosario, Matthew Chang, and Mike Shimamoto, and is produced by Viu Philippines and This Side Up, in collaboration with Arkeofilms, TheaterFansMa-nila.com, Flip Music, and Black Box Collab. Still will have a limited-time release on Ticket2Me before its scheduled showing on Viu. The Exclusive PreViu tickets will not only allow viewers to watch the episodes earlier but also enjoy a six-month Premium subscription to Viu Philippines and a digital Still chord book containing the songs from the Viu Original series. For ticket, visit https://bit.ly/ViuStillSeries.

CCP donates books to Lahat ng Bata

THE CULTURAL Center of the Philippines (CCP) has donated books and other publications to a youth group called Lahat ng Bata in Singalong, Manila. A variety of publications ranging from books for children from the Philippine Board on Books for Young People, publications of the National Commission for Culture and the Arts, as well as book donations collected from the Performatura Festival 2019, were turned over to Lahat ng Bata on May 27. Some of these books served as admission tickets during the three-day Performance Literature Festival in 2019 during which time one book was equivalent to a whole day admission. The youth group intends to make reading accessible to the poorest families in the neighborhood, putting up the Lahat ng Bata Community Library along Pag-asa St. in Zapanta, Singalong, Manila. Learning materials from grade school to college are also available. Lahat ng Bata is also open for hygiene kit donations such as alcohol and facemasks. For inquiries, contact 0929-377-9865, visit its Instagram and Facebook pages at instagram.com/lahatngbata.ph and facebook.com/lahatngbataph

Home Credit Philippines’ January-June in-store installment financing hits P10.6B

HOME CREDIT Philippines recorded a rise in in-store installment financing as more consumers purchased items due to work-from-home arrangements and changes in lifestyle resulting from the coronavirus pandemic.

The firm saw a year-on-year increase in loans in the first half to P10.6 billion, Home Credit Chief Executive Officer David Minol said in a statement.

Nearly one million customers tapped their facility in the period to avail of products in their partner stores, he added.

Home Credit has presence in over 9,000 physical stores while its app has over six million downloads.

“It is another encouraging sign that people are gradually recovering from what was a very challenging year for us all,” Mr. Minol said.

The top five products purchased by consumers who tapped Home Credit for financing were smartphones, televisions, refrigerators, laptops, and sporting equipment.

Home Credit also saw higher demand for financing to buy air- conditioners, with sales rising to P296 million in the April to May period against the P132 million in the first quarter. It was attributed to consumers taking advantage of their promotional offers.

“It is an interesting best-seller list as it reflects what Filipinos’ priorities and lifestyles are in the new normal. They put great value on things that allow their families to live, work and play better,” Mr. Minol said.

He noted that although malls were closed when a two-week lockdown was imposed in Metro Manila and surrounding provinces in March, Home Credit continued to see demand for financing through their mobile app.

With restriction measures gradually being lifted, Mr. Minol said consumer traffic is expected to recover in malls, which could boost loan demand.

Filipinos’ growing ease with using mobile transactions will also help them gain more customers, he said.

“We know that Filipinos have a strong mall culture, and it still shows in this new normal. But what these past months have also shown is how digital savvy Filipinos have become, especially when it comes to e-commerce and online shopping,” Mr. Minol said.

The financing company has served over seven million customers since its launch in the Philippines in 2013. — LWTN

How museums could light up and display more of the world’s precious objects for longer

Photo by Gilber Franco on Unsplash

THE two key objectives of museums — exhibition and preservation — are often in conflict.

Exhibiting an object and exposing it to elements like lighting, fluctuating temperature, humidity, and variable air quality can cause damage and degradation.

The very decision to exhibit an item may mean its future is compromised.

In fact, the majority of objects in museum collections are in storage. This is only partly to do with resources and display space. It is largely due to conservation requirements.

I am a researcher at the University of Technology Sydney and a lighting designer at Steensen Varming. With other researchers and designers, I am exploring how museums can improve displays for visitors while also addressing preservation with new advances in lighting technology and applications.

These technological advances need to be put into practice for the sake of viewers today and well into the future.

The first public museums of the 19th and the early 20th century used daylight to illuminate the collections. But, as our understanding of conservation advanced, the degrading effects of ultraviolet and visible light became a con-cern.

As electric lighting became increasingly available — and economically viable — museums and galleries were fitted with incandescent light bulbs and fluorescent discharge tubes (commonly referred to as “fluoros”), and daylight was increasingly excluded.

International guidelines — which balanced the needs of viewers and conservation — were developed with these technologies in mind. As all forms of light can cause damage to exhibition materials by fading pigments and af-fecting structural integrity, lighting must be used delicately and sparsely to protect vulnerable displays.

But this century has seen major advances in light-emitting diodes, or LED lighting. White LEDs greatly improved the quality of LED lighting, which is also recognized for economic and environmental benefits.

LEDs have very different attributes to traditional counterparts: their light spectrum is different, they render colors differently, they offer a greater degree of control and have a lower potential for damage.

But even as museums increasingly adopt LEDs, they are still using the old guidelines. A new approach to museum lighting standards is well overdue.

With LED lighting, we believe the strict exposure limits under the old guidelines can be more specifically tailored.

This means more artefacts can be displayed for longer while incurring less damage.

A key part of our proposed framework is considering the “significance” of objects as a key factor when deciding how much light exposure is adequate.

The question of significance is a complex one in its own right, but helps make more informed decisions for display conditions: how important an object is to display, for how long it can be on display, and how much compromise is acceptable.

Our new proposed standards include suggestions on: expanding the classification of the light-sensitivity of museum objects from the four categories to eight; introducing a three-tier significance scale to consider the importance and relevance of objects, not just the materials they are made of; and, a flexible framework, allowing museum professionals to adjust the duration of exposure versus light levels without compromising objects.

This will not solve all the complex questions around light, conservation and visitor experience, but it will serve as an essential adjustment.

By introducing more specificity and flexibility into lighting guidelines, we hope we can offer freedom to curators, designers and conservators, while also giving museum visitors a better experience.

Lighting technology is developing by the day. With smart controls and sensors, museums will increasingly be able to add thematic, theatrical, or dynamic lighting overlays to display objects at their best — perhaps even personal-ized lighting profiles for each visitor.

We now need to adopt the right guidelines for this to happen.

 

Emrah Baki Ulas is a Senior Lecturer, University of Technology Sydney.

How to work from home without killing your back

PIXABAY
PIXABAY

SITTING BEHIND a desk for hours doesn’t have to result in back pain or sore wrists. Being intentional about how you set up your work desk will prevent needless discomfort. BusinessWorld spoke with Christopher C. Torres, chief sports physical therapist of the Maharlika Pilipinas Basketball League’s Cebu Casino team, on how to get the work desk ergonomics situation right.  

POSITION  

  • Wrist — Wrists should be in a neutral position, so you can draw a straight line from the hand to the wrist. Elbows should be in a 90-degree position. Adjust your armrests so your elbows are supported and your shoulders are relaxed.  
  • Back — Maintain the natural curves of your spine by keeping your ears, shoulders, and hips aligned. Sit far back in your chair to help prevent your lower back from rounding too much. Provide support to your lower back area (or lumbar spine) with a small pillow or a small rolled up towel.  
  • Feet — The feet should touch the ground so the lower back area can create enough curving for the muscles to lessen tension. If the chair is too high, the lower back muscles will need to generate tension, thus creating mechanical low back pain. Feet that dangle is a huge liability, Mr. Torres said, because the feet significantly help support stability in your lower back.  

 EQUIPMENT  

  • Monitor — The monitor of your device should be an arm’s length away from you, or about 50-70 cm (20-22 inches) away from the screen. If your screen is too far away, you’ll end up craning your neck. The top of the screen should be at or slightly below eye level.   

Placing your monitor perpendicular to the windows — so the light source is to the side — helps avoid eye-straining glare.  

Choose a chair that supports the natural curve of your spine. This is critical when working daily and for longer hours.  

Mr. Torres added that armrests are a must when choosing an ergonomic chair: “It will support your elbows and minimize the use of energy of your wrist, thus prolonging your typing hours.”   

A headrest is optional.   

For those whose budgets cannot accommodate an ergonomic chair just yet, Mr. Torres recommended the Nada Chair or solutions similar to it. “We have a lot of lumbar support devices, etc. in the market, but this is the only one that has a knee support system.”  

  • Footrest — A footrest can be used for when your chair is too high for you to rest your feet flat on the floor, according to the Mayo Clinic. If a footrest is not available, a small stool or a stack of sturdy books may be used as a substitute.  
  • Desk — Your legs should fit comfortably under your desk when sitting. Don’t store items under it. Make sure there’s clearance for your knees, thighs, and feet.   

If your desk has a hard edge, pad the edge or use a wrist rest.   

A standing desk can be a good investment for those who wish to decrease lower back pain episodes, Mr. Torres told BusinessWorld.  

“A standing desk gives you more energy, improves your heart rate, and equalizes the distribution of tension in your muscles,” he added.  

  • Keyboard — According to Zapier, an automation tool company whose staff work remotely, your keyboard should be close enough to keep your upper arms close to your body. It should also be low enough so the wrists are flat and the arms are parallel to the floor.   

A fix for non-ergonomic keyboards, per the California-based firm’s July 2016 blog, is to get a keyboard stand that positions the keyboard pointing downwards. Those who use laptops, meanwhile, can get a keyboard stand paired with an ergonomic external keyboard.  

  • Necessities — Zapier also advised keeping key objects you use daily (like your mouse) within reach. Stand up to reach anything that can’t be comfortably reached while sitting.  

STRETCHES  

Prolonged sitting can give rise to health issues, so regular breaks and basic stretches are a must, no matter how ergonomic your work desk is.  

Dr. Marcelino T. Cadag, an orthopedic surgeon who practices at Makati Medical Center, said the number one cause of lower back pain is muscle strain from sitting too long.   

“Muscle strains could root from activities like lifting too much weight, developing arthritis, and even slipped discs,” Dr. Cadag said at a webinar on back pain. “The number one cause of lower back pain is muscle strain from sitting too long. We suggest that for every hour of sitting, stand up for five to ten minutes.”  

In his interview with BusinessWorld, Mr. Torres shared a few stretches that could help ease muscle tension among pencil pushers:   

  • Trunk rotations — cross your arms, slowly turn your trunk to one side, hold it in place for 15 seconds, and then return to neutral position. Do the same on the other side.  
  • Hamstring stretches — use a towel, wrap it around your feet, and then gently pull your feet using the towel. Keep your legs and feet straight while doing this. You should feel a burning sensation on your calf and hamstrings.  
  • Glute stretches — do a figure four (or a de quatro), then slowly bend your trunk forward. You should feel a stretching sensation in your buttocks.  
  •  Knee hugs — Lying on the floor or standing straight, bend your knees towards your chest and grab (or hug) it as much as you can. You should feel a comfortable stretch in your lower back. 

Mr. Torres said each stretch should be a 20-second hold and done 3-5 times per area. “Focus on the quality of stretch,” he added. “The normal feeling of a stretch should be a gentle burning sensation. Cease the activity if you feel some stingy or sharp pain sensation.” — Patricia B. Mirasol

 

SIDEBAR | Finding an ergonomic keyboard 

A CONVENTIONAL computer keyboard forces people to bend their hands to the side when they are typing, according to the Cornell University Ergonomics Web. This lateral bending of the hands can lead to carpal tunnel syndrome and an increased risk of developing musculoskeletal injuries in the forearms.   

The New York-based university suggested eight alternative ergonomic keyboard designs: 

  • Modified standard layout keyboard — a keyboard design that resembles the standard one, except that the keys are angled, which results in less ulnar deviation when typing.  
  • Fixed-angle split keyboard — a keyboard design that splits the alphanumeric keys at a fixed angle, which slightly tent the keyboard.  
  • Adjustable-angle split-keyboard — a keyboard design that allows the user to change the split-angle to suit their own needs.  
  • Completely split keyboard — a keyboard design in which the left hand and right hands portions of the keyboard are completely split apart.  
  • Vertically split keyboard — a keyboard design that resembles an accordion as the user types with the hands facing each other. This design works well to reduce ulnar deviation and wrist extension, but it is important not to have the keyboard too high otherwise the chest and shoulders can fatigue.   
  • Chordic keyboard — a keyboard design that has a smaller number of keys and letters, with digits are generated by combinations of keys in chords.  
  • Specialist keyboard — a keyboard design developed to assist users who have some physical limitation or who wish to type in a different way. Some designs allow users to rest their hands on two domed surfaces and then to move these surfaces to generate the characters.  
  • One-handed keyboard — a keyboard design for users who can only type on one hand.  

 

AC Energy and partners invest $445M in Vietnam wind farms

AYALA-LED AC Energy Corp. and its partners are pouring in $445 million for the joint development of five wind farms in Vietnam as the publicly listed energy platform recognizes the country as ideal for sustainable investments. 

On Tuesday, AC Energy said that the funding covers wind projects under construction in various parts of Vietnam, including the 170-megawatt (MW) Mui Ne wind farm in Binh Thuan province; the Lac Hoa and Hoa Dong wind farms with an aggregate capacity of 60 MW; the 252-MW Quang Binh wind farm; and the 88-MW Ninh Thuan wind farm. 

The firm, through its corporate communications division, told BusinessWorld on Tuesday that all five wind farms are slated for operations this year. 

At present, the company’s renewable energy (RE) projects in Vietnam have reached 637 MW in attributable capacity. 

“Vietnam is an ideal place for sustainable investments as it leads the race to clean energy transition in the post-COVID world,” Eric T. Francia, AC Energy President and Chief Executive Officer said in an e-mailed statement. 

“Our partners’ deep market expertise bolsters our leadership position in Vietnam as we aim to play a meaningful role in the green-led recovery by building climate resilience and creating jobs,” he added. 

AC Energy International Chief Operating Officer Patrice R. Clausse said they are establishing a solid track record in the country through these “landmark” sustainable investments. 

“We will continue to develop large-scale developments to support Vietnam’s goal to increase the share of renewables in their energy mix,” he said. 

With the completion of its wind farms and the upcoming infusion of its international assets, AC Energy said that it is set to hit 2,500 MW of RE projects this year — making up half of its 2025 renewables capacity target. 

Back home, AC Energy has an attributable capacity of around 1,200 MW. The local firm aims to become the largest listed platform in Southeast Asia. — Angelica Y. Yang 

Pharma industry adjusts COVID-19 drug forecasting

THE pharmaceutical industry has made changes to its demand forecasting to improve the supply of drugs used to treat the coronavirus disease 2019 (COVID-19) in case of a surge caused by the Delta variant, an industry group said. 

Beaver Tamesis, president of the Pharmaceutical and Healthcare Association of the Philippines, said that the industry is now using forward-looking projections instead of historical trends to secure supplies. 

“Hopefully, we are able to secure medicine supplies,” he said in a mobile message on Monday. 

The Philippines has reported 35 cases of the more transmissible Delta variant, prompting President Rodrigo R. Duterte to consider reimposing stricter restrictions. Three of the local cases have died. 

OCTA Research Group said that a surge caused by the Delta variant could match March levels, but noted that higher inoculation levels could mitigate the rise in cases. 

Amid peak COVID-19 levels in April, supply was slightly behind demand, Mr. Tamesis, said noting the need for better projections. 

Drug supplier Biocare Lifesciences, Inc. was caught off guard after India banned exports of remdesivir, an anti-viral drug originally made to treat hepatitis C. The company said the drug can be imported in specific quantities based on each compassionate special permit order from hospitals, with some failing to anticipate the surge at the time. 

India last month relaxed its remdesivir export policy, which means that special permissions for export will not be required. 

“Critical drugs in early hospitalization phase, remdesivir, oxygen supplies, well at least we are past the major crisis in India when they banned the export of the drug,” Mr. Tamesis said.  

Forecasting methods for tocilizumab, which is also used for COVID-19 patients, have been adjusted to “hopefully better anticipate demand,” he added. 

5 art projects for a positive mindset

WITH today’s challenges and difficulties, art remains an easily accessible form of therapy. It helps explore emotions, increase self-awareness, and deal with life trials. Art-making engages both the right and left hemispheres of the brain and activates the same parts used during real-life problem-solving.

Scrapbooking, doodling, sketching, knitting, and sculpting can make a way for a better frame of mind. Thus, the Benilde Well-Being Center of the De La Salle-College of Saint Benilde and Lindsay Lederman, the Clinical Director of The Art Therapy Project, a non-profit mental health organization that provides free group art therapy to people of all ages affected by trauma, have compiled some useful tips for those who currently struggle.

“We don’t need to be an experienced artist to reap the rewards,” Ms. Lederman noted. “Anyone can make a bit of time for art and creativity. It’s the process, not the result, that creates a more positive mindset.”

Here are five art projects for a more positive outlook:

1. Need a sense of control? Collage. Collages help us explore ideas and allow us to be more creative without having to produce from scratch. With problem-solving and decision-making skills, we decipher how to deconstruct an existing composition to form a new product. It provides a kinesthetic release and kindles feelings of control.

2. Feeling negative? Doodle mantras for positivity. Doodling or drawing a mantra exhibits relaxed feelings and introduces positive messages into the mind. Take two minutes amid the busy schedule to jot down some words of encouragement. If you have extra time, decorate it with designs, dots, and illustrations. Doodling enables sharper focus by quieting distracted parts of the mind.

3. Anxious? Sketch or color. Take note of your thoughts and feelings by drawing a line and coloring around it. Repetitive strokes provide temporary relief from life stressors. The focus required to color likewise keeps negative emotions at bay until you are ready to address them.

4. Stressed? Knit. The repetitive hand motions of knitting are an active-reward activity. The mind and body work together to fulfill a particular task. It decreases levels of the stress hormone cortisol and has a meditative effect.

5. Feeling helpless? Sculpt. Building 3D objects can mirror the process of building up our egos. Manipulating materials — may it be clay or popsicle sticks — allows us to feel masterful and ready whatever life throws our way.

AMLC’s September report to FATF to focus on rules for delisting and unfreezing of assets, funds

THE ANTI-MONEY Laundering Council (AMLC) is looking to craft rules that will specify the process for delisting and unfreezing funds or assets ahead of its first progress report to the Financial Action Task Force (FATF) in September after its inclusion in its “gray list.”

“The Philippines will be reporting on the Immediate Outcome 11 Action Plan on the issuance of the step-by-step guidance on delisting and unfreezing in relation to proliferation financing,” AMLC Executive Director Mel Georgie B. Racela said in a text message.

The FATF requires its gray-listed jurisdictions to submit progress reports to prove they are taking concrete steps to implement tighter anti-money laundering and counter-terrorism financing (AML/CTF) measures.

In January, the AMLC published updated implementing rules and regulations (IRR) following the passage of Republic Act 11521, which strengthened the Anti-Money Laundering Act (AMLA) of 2001 based on the recommenda-tions of the global “dirty money” watchdog.

Republic Act 11521, which addressed the gaps in the country’s AML rules, was enacted Jan. 29, only days ahead of the Feb. 1 deadline set by the FATF for the country to show tangible progress in imposing tighter AML/CTF measures.

The revised IRR of the AMLA included provisions for the lifting of freeze orders in cases of mistaken identity. Delisting upon the request of a foreign or international jurisdiction could also result in the lifting of a freeze order.

Asked whether there has already been a case for delisting or unfreezing that AMLC had to attend to, Mr. Racela said: “None yet, but it was one of our action plans and one of the quick wins we can take out from the 18 action plans.”

Bangko Sentral ng Pilipinas Governor and AMLC Chairman Benjamin E. Diokno has said they hope the country can be removed from the FATF’s gray list by January 2023.

The FATF has not imposed counteract measures on the jurisdictions under increased monitoring, but has encouraged other countries to take into account their findings for their risk analyses. Any counteract measures may cause tighter customer due diligence and could affect the ease of flow of funds to the Philippines.

FREEZE ORDERS ISSUED

Meanwhile, the AMLC issued freeze orders for properties and funds that have links to the National Democratic Front (NDF) after it was designated as a terrorist organization by the Anti-Terrorism Council, it said in an advisory posted in its website on Monday night.

The AMLC has likewise issued a freeze order for properties and funds connected to local terrorist groups that have links to Islamic extremist movements. These include those of particular persons identified to have links to the Abu Sayyaf Group, Maute Group, Daulah Islamiyah, Hassan Group, Turaifie Group, Bangsamoro Islamic Freedom Fighters, and Maguid Group.

The issuance of these orders followed the designation of these groups as terrorists by the Anti-Terrorism Council’s Resolution 21 dated June 23, the AMLC said.

Covered institutions and concerned government agencies are expected to submit a written return to AMLC with details regarding deals or transactions found to have “reasonable ground” for having links with the NDF and these local terrorist groups.

Covered persons are likewise required to submit a suspicious transaction report which details previous transactions with these designated groups within five days from the freeze orders’ effectivity. — L.W.T. Noble

Your bed probably isn’t as clean as you think — a microbiologist explains

UNSPLASH

THERE’S NOTHING quite like crawling into bed, wrapping up in your blankets, and nestling your head into your pillow. But before you get too comfortable, you might want to know that your bed isn’t all that dissimilar to a petri dish. The combination of sweat, saliva, dandruff, dead skin cells, and even food particles make it the optimal environment for a whole host of germs such as bacteria, fungi, viruses, and even tiny bugs to grow. 

Here are just a few of the things that lurk beneath our covers. 

BACTERIA 

Our beds can play a host to a vast variety of bacterial species. 

For example, research looking at hospital bed linens found that Staphylococcus bacteria were common. These bacteria are typically harmless, but can cause serious illness when they enter the body through an open wound — and certain species of Staphylococcus can cause more harm than others. 

Take Staphylococcus aureus, which is fairly contagious and can cause skin infections, pneumonia and worsen acne. Not only have S. aureus been found to live on pillowcases, research also shows that some strains are resistant to antibiotics. 

Research also shows that alongside Staphylococcus, E. coli, and other similar bacteria, known as gram negative bacteria, are also common in hospital beds. Gram-negative bacteria are a serious health problem as they’re highly resistant to antibiotics and can cause serious human infections — including urinary tract infections, pneumonia, diarrhea, meningitis, and sepsis if they get into the body. Some strains of E. coli can also be very infectious, and may cause urinary tract infections, traveler’s diarrhea and pneumonia. This is why washing your hands properly after using the toilet is important to prevent transferring this bacteria to other parts of your home. 

Of course, hospitals are very different from our at-home environment. But that doesn’t mean it isn’t still possible for these bacteria to get into our beds. In fact, around a third of people carry Staphylococcus aureus in their bodies. People that carry S. aureus can shed the organism in large numbers — meaning it’d be pretty easy for Staphylococcus bacteria to be transferred into your bed at home. 

BUGS 

You shed around 500 million skin cells per day — while sleeping in bed. These skin cells may attract and be eaten by microscopic dust mites. These mites and their droppings can trigger allergies and even asthma. 

Bedbugs can also be a danger. Although these tiny bugs (around 5 mm long) haven’t been shown to transmit disease, they can cause itchy red bite marks — alongside a variety of mental health effects, including anxiety, insomnia and allergies. 

Bedbugs can be carried into homes on soft surfaces, such as clothes or backpacks, or by other family members. 

Washing and drying bed linens on a high temperature (around 55°C) will kill dust mites, but bedbugs may need to be professionally exterminated. 

HOUSEHOLD GERMS 

You can also bring germs to your bed from contaminated household items — such as clothing, towels, the toilet or bath, kitchen surfaces, or even pets. 

Bathroom and kitchen towels play host to a variety of bacterial species, including S. aureus and E. coli. Improper laundering can also spread these germs to other items — including our bed sheets. Even diseases like gonorrhoea can be transmitted through contaminated towels or bedding. 

Different microbial species will survive on fabrics for different periods of time. S. aureus, for example, can survive for a week on cotton and two weeks on terry cloth. And fungal species (such as Candida albicans, which can cause oral thrush, urinary tract infections, and genital yeast infections) can survive on fabrics for up to a month. 

Influenza viruses can also survive on fabrics and tissues for 8-12 hours. Some other types of viruses, such as the vaccinia virus, can live on wool and cotton for up to 14 weeks. 

BED HYGIENE 

Proper and regular washing are all key to ensuring germs don’t develop into a genuine health threat. But how often should you change your bed linen? 

Since we can’t wash our sheets every day, one thing you can do daily is air your sheet every morning. Since moisture builds up in them while we’re sleeping, pulling the duvet back so the bed sheets can breathe before making the bed means your sheets and mattress become a less attractive nesting spot for bacteria and mites. 

Mattresses can also be a big source of bacteria and microbes due to a build-up of skin flakes, food particles and fungi over the years. Since it’s difficult to wash a mattress, using a washable cover — and washing it every week or two — can help cut down on the number of microbes living there. Vacuuming your mattress and bed base every month will also help remove allergens and dust. Flip your mattress often — or get a new one if it’s older than 10 years. 

It’s recommended that you wash your bedding every week (or more often if possible) —  especially if you spend a lot of time in bed, sleep in the nude, or sweat a lot at night. It’s also recommended that pillowcases are changed every two to three days. 

All bed linens should be washed in warm to high temperatures (around 40°C-60°C) in order to effectively kill germs. Avoid overloading laundry machines and use enough soap, and make sure bed linens are completely dried before using. 

Showering before bed, avoiding taking naps or getting into bed while sweaty, removing makeup, and avoiding lotions, creams, and oils right before bed can all help keep linen cleaner between washes. Not eating or drinking in bed, keeping pets off your sheets, and removing dirty socks will also help. — The Conversation 

Manal Mohammed is lecturer of medical microbiology at the University of Westminster, UK.  

This article is republished from The Conversation under a Creative Commons license. Read the original article. 

Prince Harry writing memoir for publication in late 2022

https://en.wikipedia.org /

LOS ANGELES — Britain’s Prince Harry is writing a memoir about his life that will be published in late 2022, publisher Penguin Random House said on Monday.

The “intimate and heartfelt” book will provide a “definitive account of the experiences, adventures, losses, and life lessons that have helped shape him,” the publisher said in a statement.

Harry and his wife Meghan, formally known as the Duke and Duchess of Sussex, stepped down from royal duties in early 2020 and are living in California with their two children.

The pair sent shockwaves through the British monarchy in a March interview with Oprah Winfrey when Meghan accused a member of the royal family of raising concerns about how dark their son’s skin might be and said her life as a royal had left her on the brink of suicide.

Harry said he had feared history would repeat itself after his mother, Princess Diana, died in a Paris car crash in 1997 as she was chased by paparazzi.

Buckingham Palace said at the time that the royal family were “saddened” to hear how challenging the couple’s lives had been, and Prince William said the family was not racist.

Harry said he was writing his memoir “not as the prince I was born but as the man I have become.”

“I’ve worn many hats over the years, both literally and figuratively, and my hope is that in telling my story — the highs and lows, the mistakes, the lessons learned — I can help show that no matter where we come from, we have more in common than we think,” he said in a statement.

Penguin Random House said the book would cover Harry’s childhood, his military service including time on the frontlines in Afghanistan, and his life as a husband and father.

Financial terms were not disclosed. Harry will donate the proceeds to charity, the publisher said. — Reuters

Philippine Heart Center installs new imaging system

Courtesy of Philips

THE PHILIPPINE Heart Center (PHC) recently installed the Philips Azurion with FlexArm, a ceiling-mounted system that provides medical teams with expanded imaging flexibility.

“The system enables us to dramatically optimize procedures around the patient, where we can now capture optimal views of the patient, without encumbering all the clinicians who are working around the table,” said Dr. Joel M. Abanilla, PHC executive director.

In Asia, chronic conditions such as cardiovascular diseases, coupled with an aging population, are driving the need for more minimally invasive procedures. By 2030, Asia is expected to be home to over 60% of the total population aged 65 years or older. Locally, top three causes of death in the country in 2020 were ischemic heart diseases, neoplasms, and cerebrovascular diseases.

The Azurion allows clinicians to visualize critical details of the anatomy and identify changes to the patient during procedures. Its full set of innovations also enables clinicians to perform 2D and 3D imaging across the whole patient.

“In the heat of complex procedures, we can already see how the genius of this innovation delivers better clinical outcomes and long-term economic value for a more diverse range of procedures,” said Dr. Abanilla.

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