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Food direct-buying IRR stalled, freezing billions worth of funds

PHILSTAR

THE multibillion-peso allocation for a program to buy food directly from farmers and fisherfolk remains on hold because the guidelines governing the purchases have not been completed, a Senator said Thursday.

Senator Francis Pancratius N. Pangilinan noted the delay of the guidelines means the intended beneficiaries the Sagip Saka Act of 2019 cannot access funds worth P41 billion from the 2021 budget.

“The economy will move in the countryside if this P41 billion is spent to buy the harvest and catch from our farmers and fisherfolk,” he said in a statement, adding that direct purchasing would cut out middlemen and bolster their incomes during the pandemic.

He said the delay stems from the Government Procurement Policy Board’s (GPPB) failure to complete the implementing rules and regulations (IRR) for the law.

“The year is about to end, and there’s still no IRR from GPPB. There is money reserved for the direct purchase by national agencies for farmers but it’s left hanging,” he said.

The GPPB needs to review and amend its negotiated procurement guidelines to implement the law, which was signed in October 2019.

At the Wednesday finance committee hearing on funding for the budget department, Mr. Pangilinan brought up the delay in implementing Sagip Saka. “This is supposed to be for 2021 purchases, and 2021 is ending.”

“There seems to be no sense of urgency. I hope that this is not deliberate,” he added.

In August, the GPPB said its target for releasing the draft guidelines was September, but the draft was submitted to the members of the board in October.

The GPBB on Wednesday said that it will ask its members to expedite their comments on the draft.

The committee urged the GPBB to approve the guidelines before the budget department’s proposed budget moves to the plenary in November.

“When I talked to our farmers, they were not asking for a donation,” said Mr. Pangilinan. “They are only asking for a little help to balance against imported goods. This P41 billion may be the stimulus for our agricultural sector. Let’s hasten this,” Mr. Pangilinan said. — Alyssa Nicole O. Tan

Smoother operator

Isuzu Philippines Corp. executives pose with the new Isuzu N-Series Smoother. From left are Vice-President for Sales Yasuhiko Oyama, Executive Vice-President Shojiro Sakoda, President Hajime Koso, Division Head for Sales Joseph Bautista, and Department Head for Product Planning Robert Carlos. — PHOTO FROM ISUZU PHILIPPINES CORP.

Isuzu Philippines wants sweet-driving trucks to be the norm

IT’S ALL IN the name: the new, Isuzu N-Series Smoother. It’s the latest product offering from Isuzu Philippines Corp. (IPC) in the light-duty truck segment — an N-series truck that uses a special transmission that enables it to be driven clutch-free like an automatic, while still maintaining the fuel efficiency of a manual.

This best-of-both-worlds scenario is made possible by its so-called automated manual transmission (AMT) technology — an intelligent gearshift system which has already been used widely in Japan over the last 10 years!

Basically, the truck driver’s job is made relatively easier via the elimination of the clutch pedal — offering him, instead, two-pedal operation that leaves less room for shifting inaccuracy or mistakes.

The truth is, truck drivers usually have to work long hours; a simple change like this may significantly reduce driver fatigue in the long run. Less driver mistakes also mean less mechanical stress on the vehicle, and ultimately, less cost to the company (in the form of reducing maintenance costs and truck downtime). The absence of a clutch pedal also means one less part of the vehicle to break.

IPC President Hajime Koso shares, “In the Philippines, trucks are maximized and utilized almost at 24/7 operations. And with the increasing demand for delivery, especially in logistics, truckers deal not just with the increase in their operation expenses — particularly fuel and maintenance — but also the need for more professional drivers, which has become quite a problem. So, we thought, why not make our next truck address all these challenges and more?”

Therefore, the mantra of Isuzu’s new N-Series truck is to provide “smoother” business operations alongside a “smoother” driving experience for its drivers. And to further supplement with driver niceties, the new N-Series Smoother now also includes a tuner radio with a USB port, two speakers, a built-in charger port, reclining seats, centralized door locks, and a cab tilt warning system. The cab is now also equipped with power windows.

Mr. Koso adds, “Being the number-one truck brand in the country, Isuzu’s success comes from working closely with our customers, assessing their every need, and coming up with the best business solutions in every step of the way.”

Powering the new Isuzu N-Series Smoother is a 3.0-liter Blue Power diesel engine that can spit out a maximum power of 124ps alongside 354Nm of torque. Its transmission is a six-speed AMT. Of course, being an Isuzu N-Series, it can be fitted — as the model is well known for — with various body applications. For example, it can be customized as a refrigerated van, a dump truck, a fire truck, an aerial platform, or a tanker, among other applications.

The declared three main pillars of the Isuzu N-Series Smoother are: 1) It is easy to drive, since two pedals mean less complications; 2) It is generally economical, because the transmission promotes fuel efficiency and the absence of a clutch means one less part to maintain; and 3) It relatively improves safety because it allows the driver to focus his attention onto the road, without having to think about shifting gears.

And the good news is that the Isuzu N-Series Smoother is now available in all Isuzu dealerships nationwide. Pricing may be viewed via their website www.isuzuphil.com.

Cebu says consortium filed proposal for 254-hectare reclamation project

THE provincial government of Cebu has received an “unsolicited proposal” from the Cordova Mega Consortium to undertake a 254-hectare reclamation project in Cordova town.

“The project will involve the completion of raw land reclamation and horizontal development of 254 hectares, more or less, of foreshore and offshore areas of Cebu Strait and located within the jurisdiction of Cebu Province, particularly in Barangays Catarman, Buagsong, Alegria, and Poblacion, Municipality of Cordova,” Cebu Governor Gwendolyn F. Garcia said in a notice published in newspapers on Sunday.

The consortium, led by Premium Megastructures, Inc. (PMI), aims to create a joint venture agreement for the development.

PMI has completed projects and was awarded other ongoing projects such as supplier of materials and reclamation work for the Cebu-Cordova Third Bridge, the dredging and reclamation of Manila Bay, on top of other roads and bridges as well as ports across the country.

The Cebu government said it issued a certificate of successful negotiation for the 254-hectare reclamation project on Sept. 1 and is now calling on other interested firms to submit a comparative proposal.

Only proposals submitted by eligible proponents will be accepted. Eligibility requirements may be obtained by Oct. 25 with a non-refundable fee of P100,000. The Economic Enterprise Council set Nov. 3, 12 p.m. as the deadline for eligibility documents.

“Private sector participants should have successfully undertaken at least one project similar or related to the project subject of the competitive challenge,” the notice said.

A proposal must cost at least 50% of the projected cost for the 254-hectare reclamation project.

The comparative proposal must include plans on the construction, development, and sharing of the reclaimed land that is compliant with the provisions set by Executive Order No. 74, series of 2019 and its implementing rules and regulations.

The Cebu government said the project will be awarded through a competitive challenge after a two-stage evaluation procedure, which includes checking of eligibility requirements and the second stage, the technical and financial requirements.

The proponent awarded with the project will take charge of its finances, including the costs for securing approvals, permits, and required clearances from government agencies.

The 254-hectare reclamation project must be completed within three years from the commencement of raw land reclamation, which should start no later than Jan. 15, 2022. All the necessary permits must be obtained by then, the Cebu government said. — Keren Concepcion G. Valmonte

Green activist hid in Louvre loos before gatecrashing Louis Vuitton’s show

SECURITY personnel remove an activist belonging to the Les Amis de la Terre France or Friends of the Earth-France, who crashed the designer Nicolas Ghesquiere Spring/Summer 2022 women’s ready-to-wear collection show for fashion house Louis Vuitton during the Paris Fashion Week in Paris, France, Oct. 5

PARIS —  Marie Cohuet hid in a lavatory inside the Louvre art museum for over two hours, plotting her gatecrashing of Louis Vuitton’s Paris Fashion Week show in protest at the environmental damage that activists say is caused by the fashion industry.

After edging closer to the show’s entrance as the event neared, Ms. Cohuet saw her chance when staff were distracted by the glitzy arrival of actress Catherine Deneuve.

Talking animatedly into her phone, Ms. Cohuet pretended to be from the organizing team and walked in.

She bided her time until the catwalk parade began to a soundtrack of thunderous organ music and church bells, at which point she unfurled her banner and joined the procession of models under a chandelier-lit runway.

“It was a little bit like taking back power,” the 26-year-old environmental campaigner, a member of the Amis de la Terre (Friends of the Earth) group, told Reuters of the seconds before she was bundled to the floor by Louis Vuitton’s security agents.

Her banner was scrawled with the slogan “overconsumption = extinction.”

Ms. Cohuet said she had taken a stand on Oct. 5 against a fashion industry that fell short on its promises to act against climate change and pushed brands to renew collections faster, and produce more for less cost.

She accused LVMH of having pledged to reduce its greenhouse gas emissions but excluding its sub-contractors from its calculations. Asked by Reuters to comment, LVMH said its 2030 target to reduce greenhouse gas emissions by more than half, announced in April, included those of subcontractors.

Critics say that fast fashion, which replicates catwalk trends and high-fashion designs at breakneck speed, is wasteful, exploits low-paid workers and pollutes the environment, including through intensive use of pesticides to grow cotton.

On the runway, Ms. Cohuet’s heart was in her stomach as she stared ahead and passed the gazes of cinema stars, LVMH chief executive Bernard Arnault and members of his clan.

“Sometimes an act of civil disobedience is needed, sometimes we need to challenge head-on those who are screwing the planet today, those who are trampling on human rights and social rights,” Ms. Cohuet said.

As a teenager at home, she expressed her indignation at the failure of global leaders to act on climate change. It had only been in the past few years that she joined protests, organized petitions and lobbied lawmakers.

Ms. Cohuet said she avoided frivolous clothing purchases and air travel but that there was only so much impact an individual could make. Real change must come from governments and leaders of big business, she continued.

Even so, Ms. Cohuet holds little hope for meaningful progress at this month’s United Nations COP26 climate change conference summit in Glasgow, Scotland.

“Nice promises get made on paper but then things tend to falter and states fail to turn them into concrete actions,” she said. — Reuters

Maize association says lower corn tariffs to kill off domestic industry

REUTERS

THE PROPOSED lowering of the tariff on yellow corn imports will be detrimental to both producers and consumers by ultimately increasing import dependency, because such a measure would force many domestic producers out, the corn industry said.

Roger V. Navarro, president of the Philippine Maize Federation, Inc., said domestic producers will be “slaughtered” by the lower tariffs. 

“What is important is to motivate our farmers and to encourage their planting intentions so as to stabilize production. The worst thing to do is for the Department of Agriculture (DA) to announce imports,” Mr. Navarro said via mobile phone.

“Not only producers will be affected, but consumers as well, as our country becomes import dependent with no more local production to fall back on,” he said.  

“In the end, we will all be affected by this since there will uncertainty in our (corn) supply if we rely on imports,” he added.

Currently, yellow corn imports sourced from non-ASEAN countries and under the minimum access volume (MAV) quota are charged a 35% tariff, while those outside the MAV quota are charged 50%. Because of special trade concessions, corn imports from within ASEAN are charged 5%.  

Recently, the Philippine Association of Feed Millers, Inc. (PAFMI) proposed a uniform 5% tariff for yellow corn imports from all sources in order to keep animal feed prices in check and aid the livestock industry.

PAFMI said the tariff adjustment can be done by executive order to address rising prices of feed corn.

It added that the average price of feed corn in September hit P22.88 per kilogram, against P15.30 a year earlier.

“A uniform tariff of 5% is expected to immediately create a level playing field for livestock growers, most especially swine raisers adversely affected by the entry into the country of low-price imported pork,” PAFMI said.  

According to PAFMI, yellow corn accounts for 40% to 60% of the animal feed formulation, while animal feed accounts for 60% to 70% of the cost to produce meat and poultry products.

The maize association’s Mr. Navarro said corn farmers need to adjust their planting intentions to avoid losses.

“We call on our corn farmers to… just plant what you feel you can afford and just enough so that you will not lose much, or you can divert to other crops,” Mr. Navarro said. — Revin Mikhael D. Ochave 

Pampanga to get its first BMW Motorrad dealership

PHOTO FROM LAUSGROUP OF COMPANIES

LAUSGROUP of Companies (LGC), one of the country’s largest and fastest-growing multi-brand automotive networks, and SMC Asia Car Distributors recently broke ground on the Premier Motorrad — the first standalone showroom and dealership of the BMW Motorrad brand in Pampanga.

Slated to open its doors by the first quarter of 2022, Premier Motorrad is in the same complex as LGC’s Premier Cars BMW Car Dealership on Jose Abad Santos Avenue in San Fernando City. Premier Motorrad will stand on a total land area of 679 square meters.

The first-ever showroom dedicated entirely for BMW Motorrad, the facility will feature 14 of the latest motorcycles from the German brand’s lineup — ranging from Adventure, Sport, and Heritage lines. The full-service facility is the only authorized dealer of BMW Motorrad north of Metro Manila. It will boast six repair work bays, two handover areas, and carry a line of riding gear, equipment, and Ride and Style merchandise.

Premier Motorrad is “envisioned to become a hot spot for motorcycle enthusiasts from different parts of Northern and Central Luzon, and parts of Metro Manila — with the LausGroup strengthening the brand’s foothold in the countryside,” said the LGC in a release.

LGC CEO Lisset Laus-Velasco commented, “We are glad to begin construction on the first and only BMW Motorrad Dealership north of Manila, and through the one-stop-shop Premier Motorrad, the LausGroup will continue to provide the best service for our clients, and make more BMW motorbikes accessible to such a diverse and robust riding community.”

Added LGC Executive Director Diorella Laus, “This Premier Motorrad was made possible by the trust and confidence of the biking community and BMW Motorrad enthusiasts. We express our gratitude to our principal, SMC Asia Car Distributors, for trusting LGC to elevate a new experience of riding here in Central and Northern Luzon, and we look forward to servicing clients not just from here but even as far as Metro Manila.”

Joined SMC Asia Car Distributors President Spencer Yu, “As our longest-standing partner LausGroup begins the construction of its new BMW Motorrad facility, we are further strengthening the brand’s foothold. The growth of the premium motorcycle segment in the industry has prompted us to bring forth the thrill of BMW Motorrad and, of course, our commitment to make the best service more accessible to the market. The new establishment will offer the entire North Luzon region a one-stop shop to cater to their BMW Motorrad needs.”

For 43 years, the Pampanga-based conglomerate has grown into a large network of over 65 dealerships located across Metro Manila, Central, and Northern Luzon, and is a dealer of leading automobile brands, trucks, buses, and well-loved premium motorcycle brands such as Harley-Davidson, Aprilia, Moto Guzzi, and Vespa.

Ayala Malls hosts over 400 social enterprises

AYALA Land, Inc. is hosting more than 400 social enterprises in its Ayala Malls as part of its Alagang AyalaLand (AAL) program, which provides livelihood assistance to local communities and small businesses affected by the health crisis.

“The program has been successful particularly in its objective of engaging and encouraging social enterprises to start or reopen their businesses to support livelihood and employment for the community,” Ayala Land said in an e-mailed statement on Oct. 22.

AAL is implemented across 32 Ayala Malls in the country. Ayala Land said the program has generated at least 3,000 jobs since its launch in May.

Rent-free spaces were also provided to social enterprises and cooperatives.

Ayala Land aims to “assist and promote” social enterprises backing vulnerable communities in the country, as well as help them promote advocacies and introduce their products to more customers.

“This program aims to offer sustainable livelihood and long-term benefits for the community, as their products and services potentially become part of Ayala Land’s value chain,” the company said.

Some of the enterprises that are part of the program are the Zamboanga-based organic farm and soap-making business, which aims to help elevate “the status of women farmers” as it promotes “an organic way of life,” and a bamboo eco-products business supporting an Aeta community in Zambales. — Keren Concepcion G. Valmonte

Rates of Treasury bills, bonds may rise on inflation concerns

BUREAU OF THE TREASURY FACEBOOK PAGE

RATES of government securities on offer this week may climb further as global oil price pressures fuel inflation fears.

The Bureau of the Treasury (BTr) is looking to raise P15 billion via the Treasury bills (T-bills) it will auction off on Monday, or P5 billion each in 91-, 182- and 364-day debt papers.

On Tuesday, the BTr will offer P35 billion in reissued seven-year Treasury bonds (T-bonds) with a remaining life of six years and nine months.

A bond trader said T-bill yields will likely move up by 5 basis points (bps) compared with the previous auction, while the seven-year T-bond’s average yield could range from 4.4% to 4.7%.

“The persistent elevated global oil prices and continued weakness of US Treasury yields are continuing to feed market players’ hesitance to rush back in the local bond market,” the trader said in a Viber message.

Oil prices went up on Friday as power generators switched to fuel oil on worries about coal and gas shortage in China, India, and Europe, Reuters reported. Brent crude futures went up 92 cents or 1.1% to $85.53 a barrel.

Meanwhile, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said T-bill yields could move slightly higher in the coming week, reflecting the movement in the secondary market.

“Any slight uptick in T-bill auction yields could be tempered by the continued excess liquidity in the financial system as seen by the continued slight decline in the 28-day BSP (Bangko Sentral ng Pilipinas) securities auction yield, on top of the more dovish signals by monetary authorities,” Mr. Ricafort said in a Viber message.

Meanwhile, he said the T-bond yield would track movements at the secondary market, but this could be tempered by the BTr’s rejection of bids for last week’s offering and “more dovish signals from monetary authorities despite higher global oil prices among seven-year highs that could lead to some uptick in inflation.”

The Treasury last week rejected all bids for its offer of reissued T-bonds as investors asked for higher returns due to lingering inflation concerns.

At the secondary market, the 91- 182- and 364-day T-bills were quoted at 1.229%, 1.458% and 1.61%, respectively, while the seven-year tenor ended at 4.4736%, based on the PHL Bloomberg Valuation Reference Rates published on the Philippine Dealing System’s website.

The government made a full award of the T-bills it offered last week as rates moved sideways after the country’s central bank chief said the regulator is unlikely to hike borrowing costs anytime soon.

Broken down, the BTr raised P5 billion as planned via the 91-day debt papers from P8.68 billion in bids. The three-month T-bills fetched an average rate of 1.113%, up by 1.8 bps from the 1.095% seen at the previous week’s offering.

The BTr also borrowed P5 billion as programmed from the 182-day T-bills as the tenor attracted tenders worth P16.868 billion. The average yield of the six-month instruments slipped by 0.1 bp to 1.39% from 1.391% previously.

Lastly, the government made a full P5-billion award of the 364-day securities it offered on Monday as bids reached P10.54 billion. The average rate of the one-year T-bills stood at 1.604%, up by 1.7 bps from the 1.587% quoted at the previous offering.

Meanwhile, the last time the BTr auctioned off the reissued seven-year T-bonds on offer on Tuesday was on Sept. 21, when it made a full P35-billion award of the papers from P76.128 billion in tenders.

The debt papers fetched an average rate of 3.826% at that auction, higher than the 3.789% quoted for the papers previously and its 3.75% coupon.

The BTr is looking to raise P200 billion from the local market this month: P60 billion from 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. — Jenina P. Ibañez

Style (10/25/21)

MCM marks milestones with online sale

PURVEYOR of vintage, limited edition, collector furniture and home decor, Ken and Isa Mishuku’s MCM PLAY — also known as Mid-Century Manila — marks three milestones this month. To celebrate, it is holding “10 Days of Modernism,” posting 200 pieces of furniture and objects spanning the different eras of modernism from Bauhaus to Mid-Century Modern to Postmodern and Memphis Era Design. All the objects are on sale. MCM Play is celebrating the launch of its physical site, a massive warehouse alley at the back of the Pavilion in Biñan, Laguna which is 90% warehouse, 5% the Sideshow Studio gallery, 3% workshop, 1.5% office, and 0.5% café, but also its successful online presence on Instagram (https://www.instagram.com/midcenturymanila/). MCM PLAY formally opened its door to the public on Oct. 9 with a group show, Play, curated by MCM’s official photographer Chkxku. Play features the work of Apok, Nicole Asares, Everywhere We Shoot!, Dondi Fernandez, JJ Jarin, Patrick Martinez, Midcentury Manila, Dyza Sacol, Art Tavera, Trip63, and Wesley Valenzuela, and runs until Nov. 9 at the Sideshow Studio of MCM Play, 83HQ+6HP, Biñan, Laguna.

Maison Margiela scents reproduce the familiar

MAISON Margiela is soon to launch in the country by Rustan Marketing Corp., with a flagship store opening at Rustan’s Shangri-la. It starts this October with its luxury line of fragrances, the Replica. Each fragrance is meant to evoke images, impressions, and emotions that reflect personal memories as much as collective subconscious. The Replica line includes Beach Walk, which is supposed to evoke “sun-kissed salty skin”; Flower Market, which is supposed to evoke “crisp petal freshness”; Lazy Sunday Morning which is meant to suggest “soft skin and bed linen”; Jazz Club, a woody, oriental, sweet and intoxicating scent suggesting “heady cocktails and cigars”; At the Barber’s, suggesting “shaving and leathery notes”; By the Fireplace, evoking “burning wood and chestnut”; Sailing Day, suggesting the “aquatic deep sea”; Music Festival,inspired by Woodstock which naturally brings to mind “patchouli and fresh bud”; Coffee Break, suggesting “creamy and cozy coffee”; Under The Lemon Trees, evoking “relaxing and bright lemon”; Springtime in a Park, suggesting “blossoms and fruity notes”; and Bubble Bath, filled with “comforting clean accords.”

Designer exhibits future environmental dystopia in Japan

YOUNG contemporary artist and experimental fashion designer Kelvin Morales explores the interconnections of humanity with the future environmental dystopia in his debut collection in Tokyo. Inspired by the genetic deformations caused by toxic chemical exposure, Mr. Morales translated the threats of current environmental issues into futuristic tailoring and semi-rugged ensembles. Dubbed as Hazard Blue, the 45-piece series features modern barong Tagalog, denim jackets, hand-dyed jeans, and pleated water-repellent top and pants with handmade patchworks, prints, and his signature embroidery. Mr. Morales, who studied in the Fashion Design and Merchandising (FDM) Program of De La Salle-College of Saint Benilde, utilized the endless possibilities of fabric manipulation and took advantage of old and new technologies such as tie-dye and digital printing. Hazard Blue is Morales’ culminating collection as one of the eight homegrown Filipino labels in the #PHxTokyo showroom incubation program of the Center for International Trade Expositions and Missions (CITEM). For more information about Mr. Morales and his collections, visit https://www.kelvinmoralesph.com/.

Lacoste marks 15th anniversary of its Foundation

THE LACOSTE Foundation is celebrating 15 years of commitment to youth. Created in 2006, the Foundation has helped more than 100,000 young people through 200 projects combining sport and education, carried out by 50 associations in 22 countries. The Lacoste Foundation is committed to transmitting the values of sport. Today, the Foundation is becoming fully integrated into Lacoste’s CSR (corporate social responsibility) approach and is extending its actions to improve the living conditions of local communities. Placed under the aegis of the Fondation de France, the Lacoste Foundation works alongside partner associations to help young people from disadvantaged backgrounds or with disabilities by supporting their social and professional integration through programs combining sport and education. The support provided by the Lacoste Foundation is the result of the legacy passed on by René Lacoste, who was not only a pioneer in fashion sport, but also in terms of social commitment.

ShopeePay adds new partners

SHOPEEPAY, Shopee’s integrated mobile wallet, has partnered with more food and lifestyle brands to cater to the growing number of Filipinos patronizing e-commerce platforms and using mobile wallets as an alternative payment method. Digital payments continue to gain momentum in the Southeast Asian region, with a 70% year-on-year growth in respondents who say e-wallet is their preferred way to pay. In the Philippines, more people opt to use cashless payment methods for its convenience, safety, and benefits, recording a 133% growth in consumers who prefer e-wallets. ShopeePay has partnered with various lifestyle brands: for smartphones, accessories, and other electronics purchases at Power Mac Center; fashion and sports items from Anello, Shoe Salon, and Olympic Village; health products at The Generics Pharmacy. Users can enjoy limited-time ShopeePay ₱1 Deals via the Shopee app and get discounts when they pay via ShopeePay at the following: Puregold and Puremart for daily essentials; Siomai House, Candy Corner, and many more food stalls nationwide for snacks and cravings. Users can look forward to more ShopeePay ₱1 Deals which they can purchase daily via Deals Near Me on the Shopee app.

Charlie Dizon joins Hello Glow squad

ACTRESS Charlie Dizon is the newest endorser of Ever Bilena’s Hello Glow line. She appeared in the gritty social drama Fan Girl, winning Best Actress at the Metro Manila Film Festival last year for her work in the film. Her love for skincare blossomed when she trained in South Korea for almost a year while pursuing her dream to become a K-pop star. With Hello Glow’s Korean packaging aesthetic, gentle formulations and cruelty-free commitment, it’s easy for Dizon to feel connected with the brand. Among the Hello Glow products is the 3-in-1 Lightweight Sun Care Gel. Hello Glow products are available in Watsons, Robinsons Department Store Beauty Section, SM Beauty Section, Waltermart, Landmark, Gaisano Malls, and all other leading department and supermarket stores nationwide.

BFAR raises red tide warnings over Samar, Leyte

THE Bureau of Fisheries and Aquatic Resources (BFAR) issued red tide warnings in parts of Samar and Leyte following the detection of paralytic shellfish poison (red tide) in those waters.

The BFAR said in its 28th shellfish bulletin that the areas where red tide warnings have been raised are Villareal, Cambatutay, and San Pedro Bays in Western Samar; Carigara Bay and the town of Leyte in Leyte province; and Matarinao Bay in Eastern Samar.  

Areas that remained positive for red tide are Dauis and Tagbilaran City, Bohol; Dumanquillas Bay, Zamboanga del Sur; and Lianga Bay, Surigao del Sur.

According to the BFAR, all types of shellfish and Acetes sp. or alamang harvested from those areas are unfit for human consumption.

However, it said that other marine species sourced from those areas may still be consumed if cooked properly.  

Red tide occurs due to high concentrations of algae in the water. Human consumption of contaminated shellfish may result in paralytic shellfish poisoning, which affects the nervous system.

Symptoms of paralytic shellfish poisoning include headache, dizziness, and nausea. Severe cases may cause muscular paralysis and respiratory problems.  — Revin Mikhael D. Ochave 

Peso to climb vs dollar on US firms’ earnings, lower coronavirus cases

BW FILE PHOTO

THE PESO is expected to appreciate versus the greenback this week on stronger US corporate earnings in the third quarter and the decline in coronavirus infections in the Philippines.

The local unit ended trading at P50.786 per dollar on Friday, appreciating by 2.4 centavos from its Thursday close of P50.81, data from the Bankers Association of the Philippines showed.

However, the peso shed 7.5 centavos from its P50.711-per-dollar finish a week earlier.

The peso strengthened versus the dollar on Friday as the market was assured that the Bangko Sentral ng Pilipinas (BSP) will keep its accommodative stance to support the economy, UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said.

BSP Governor Benjamin E. Diokno said the economy is well-placed to recover despite tightening global monetary policy conditions, as it is shielded by ample dollar reserves and an external payments position supported by remittances, business process outsourcing earnings, and an expected recovery in export revenues.

“Continued monetary policy support remains crucial in supporting private demand and encouraging banks to lend and thereby allow the economic recovery to gain more traction,” Mr. Diokno said.

Lower oil prices also supported the peso, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

Bloomberg reported on Thursday that oil prices saw their sharpest decline in two weeks due to concerns over global economic growth.

Oil futures in New York dropped 1.1% on Thursday after touching their highest levels since 2014 this week.

Fuel prices have been increasing in recent weeks due to supply issues, with major exporters yet to agree on further increasing production to meet growing demand.

Mr. Asuncion said this week, the market will continue to look for leads from US corporate earnings reports, as investors have already priced in a possible tapering of asset purchases by the US Federal Reserve by November.

At home, data showing local coronavirus infections continue to subside could also support the peso against the dollar, he added.

Active cases rose by 5,807 to 63,051 on Saturday, based on data from the Department of Health.

Meanwhile, Mr. Ricafort said the market will also monitor announcements related to restriction measures.

Metro Manila is under Alert Level 3 from Oct. 16 to 30, allowing for more relaxed restriction on economic activities. The alert level system was extended to other regions on Tuesday amid lower cases and healthcare utilization rate seen in some provinces.

For this week, Mr. Ricafort expects the local unit to move within P50.50 to P50.95, while Mr. Asuncion gave a forecast range of P50.60 to P50.90 per dollar. — L.W.T. Noble with Bloomberg

AutoIndustriya turns 21

HOMEGROWN automotive portal AutoIndustriya.com marks 21 years of “bringing the latest auto news and reviews to Filipinos online.” AutoIndustriya.com went live on Sept. 25, 2000, founded by two young automotive enthusiasts: Brent Co and Benjamin Ngo. Online media were still quite new at the time in the Philippines, but AutoIndustriya.com quickly became a leading forum for car enthusiasts and motorists. Through the years, the company transformed into a portal for the latest happenings in the Philippine auto industry — a source of automobile reviews of the cars in the market, and award-winning opinions on motoring trends and issues.

“Back when we started, people didn’t know us… actually, many didn’t even go online yet and there was no mobile data,” said Mr. Co. “But we kept working on it and introduced ourselves to a very traditionalist auto industry culture. We didn’t have social media back then; we did it with a smiley, a handshake, and a business card.”

Initially, AutoIndustriya.com was composed of a handful of friends that liked cars and wanted to be around cars, but eventually the team started to grow and take on new ambitious challenges. In 2009, Vince Pornelos joined the team and helped to revamp objectives to present Filipino readers with honest reviews of the latest cars in showrooms.

“We had doubts about our new style when I came on board. Many top executives were used to friendly vehicle test-drive articles in the Philippines, but we wanted to change that,” said Mr. Pornelos. “Today, our reviews are respected in the industry and by consumers because we say what we really think and give our true impressions of what a car is like behind the wheel.”

In 2013, Mr. Co handed off the reins as AutoIndustriya.com editor-in-chief to Mr. Pornelos, himself already a veteran of the motoring media. The team has also grown from a small group of friends to a much larger team comprised of editors, writers, contributors, photographers, and videographers. The only requirement is simple: Have a passion for cars that comes out with every article, every photograph, and every video online.

Messrs. Co, Ngo, and Pornelos then went to take AutoIndustriya.com to where it is now as the leading homegrown and fully Filipino-owned automotive website with a strong presence on all major social media portals such as Facebook, Instagram, Twitter, and on YouTube.

“Times have indeed changed, but our mission stays the same,” maintained Mr. Co. “We will always strive to publish concise auto news together with frank and honest automotive reviews because we believe the Filipino consumer deserves to know.”

As a treat for readers and viewers, AutoIndustriya.com has released a Viber sticker set to commemorate the special milestone. It can be downloaded for free through the QR code.

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