Home Blog Page 6568

Adele, Ed Sheeran, and Dave nominated for Ivor songwriting awards

ADELE

LONDON — British singers Adele, Ed Sheeran, and Raye, rapper Dave, and group Coldplay will compete for songwriter of the year at the Ivors, organizers said on Thursday, announcing nominees for the annual awards honoring those penning famous lyrics.

Producer Dean “Inflo” Josiah Cover, who has worked with the likes of Adele and Little Simz, leads nominations for the awards for songwriters and screen composers with four nods, three of them in the best album category, the UK-based Ivors Academy said.

Mr. Sheeran, who on Wednesday won a copyright case over his 2017 mega chart-topper “Shape Of You” at the High Court in London, has three nominations. The other two are for hit songs “Bad Habits” and “Shivers” in the running for most performed work

That category also includes Elton John and Dua Lipa’s chart-topper “Cold Heart,” Tom Grennan’s “Little Bit of Love,” and “BED” by DJs David Guetta and Joel Corry with Raye.

Contenders for best song musically and lyrically include Adele’s comeback single “Easy on Me,” Sam Fender’s “Seventeen Going Under,” Rag‘n’Bone Man’s “All You Ever Wanted,” Holly Humberstone’s “Haunted House” and “Let’s Go Home Together” performed by Ella Henderson and Tom Grennan.

The records competing for best album are Mother by singer Cleo Sol, Nine by musical group SAULT, singer Laura Mvula’s Pink Noise, Sometimes I Might Be Introvert by rapper Little Simz and Spare ribs by musical duo Sleaford Mods.

Performers PinkPantheress, Ashaine White, Luz, Naomi Kimpenu and Matilda Mann are nominated for the rising star award.

Drama Spencer, starring Kristen Stewart as the late Princess Diana, and thriller Last Night in Soho are among the films recognized in the original score category.

The awards, named after early 20th century Welsh composer, actor and entertainer Ivor Novello, were first handed out in 1956. The 67th edition will take place on May 19 in London. —  Reuters

Rediscount facility untouched in March

BANKS left the rediscount facility of the central bank untouched in March as there was ample liquidity in the financial system to service their lending requirements as the economy reopened further.

No availments were made from the peso rediscount and the exporters’ dollar and yen rediscount facility in the first three months of 2021, the Bangko Sentral ng Pilipinas (BSP) said in a statement on Thursday.

In 2021, lenders only tapped the facility in June, July, and September. These borrowings amounted to P6.12 million, significantly smaller than the P26.9 billion in 2020.

The central bank’s rediscount facility gives lenders access to additional money supply by posting their collectibles from clients as collateral.

In turn, banks may use the cash denominated in peso, dollar or yen denominations to extend credit to corporate or retail clients and service unexpected withdrawals.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said banks did not avail of rediscount loans amid ample liquidity in the financial system.

“This reflects the relatively strong capital and overall financial position of banks amid the recent acceleration in the growth of bank loans, as the economy reopens further towards greater normalcy,” Mr. Ricafort said in a Viber message.

Domestic liquidity grew by 8.5% for the second straight month in February, preliminary data from the BSP showed.

Outstanding loans by big banks also rose by 8.8% that month, picking up from the 8.4% pace seen in January.

Starting March, Metro Manila and some provinces were placed under the most relaxed Alert Level 1. This allowed more businesses to increase their operations.

For April, peso rediscount loans will have a rate of 2.5%, regardless of maturity.

Meanwhile, dollar and yen-denominated borrowings will be priced at 2.96157% and 2.00095%, respectively. — LWTN

TUCP files wage hike petition in Caraga

TUCP FB PAGE

THE Trade Union Congress of the Philippines (TUCP) on Thursday filed a petition seeking a P420 increase in the minimum wage for Caraga region in northeastern Mindanao, bringing daily pay to P745.

In its petition before the Regional Tripartite Wages and Productivity Board in Caraga, the TUCP said that the P15 hike approved by the board after almost three years “has long dissipated.”

The TUCP said that the current monthly minimum wage of P8,320.00 is far below the poverty threshold for the region, estimated at P13,613.00.

It also said that the P5,340.80 food threshold from the current take home pay of P7,647.20 per month implies a per-person meal cost estimate of “around P11.71.”

“Clearly, the amount cannot provide for the recommended nutritional requirements for a family of five, not by any stretch of the imagination,” it added.

The TUCP refiled its petition for a P470 increase in the minimum wage for Metro Manila, after the capital region’s wage board dismissed a similar plea due to jurisdiction issues.

The TUCP has also filed wage hike petitions in the Central Visayas and Davao region. — Kyle Aristophere T. Atienza

Pandemic boosts insurance, investment awareness among Filipinos

FILIPINOS are becoming more aware of and committed to increasing their insurance coverage and investments as the pandemic brought to light the importance of preparing for the unexpected, industry experts said.

In a BusinessWorld Insights session titled “Growing Your Money and Finding the Best Insurance for You,” experts said younger Filipinos as well as overseas Filipino workers have been getting insurance and investment products that fit their priorities.

Kwik.insure Founder and Chief Executive Officer Hamilton C. Angluben said younger insurance clients prefer health protection products, with priorities varying among different age groups.

“What we’re seeing from our site is that the younger generation, especially Gen Z-ers, they are more into health protection, especially at the height of the pandemic. Our best-selling product was for COVID protection,” Mr. Angluben said.

“As they get older, we get more inquiries for investments,” he added.

The Global Filipino Investor president and founder Floi Wycoco, meanwhile, said overseas Filipino workers have become more aware of the need for insurance given their circumstances.

“Most of the time they are the breadwinners of the family… You have to protect your income. You need to be insured,” he said.

AIA Philippines Chief Marketing Officer Leonardo T. Tan, Jr. said some Filipinos are still intimidated by terms related to insurance and investments. He said researching more and setting priorities will help them identify investment plans that fit them.

“What are your goals — to retire early, to ensure that your children have the best education, or if you are part of the sandwich generation, you want to take care of your folks (parents) as well as your family? It’s very important and highly personalized,” he said.

Gaps in the country’s financial literacy and preferences about investments and insurance go hand in hand with cultural practices and beyond economic conditions, said Randell Tiongson, an advocate of life and personal finance.

He said it is important to bring conversations down to the family level for Filipinos to realize the importance of putting their finances in order.

“We are trying to see more people save more money, getting out of debt and getting insurance. We also encourage Filipinos to prepare for retirement, emergency funds,” he said, adding children should not have to be viewed as retirement plans of their parents.

Insurance Commissioner Dennis B. Funa has said the amount spent by each Filipino for insurance, known as insurance density, increased to P2,528 as of the third quarter of last year from just P1,768 in the same period in 2017.

Mr. Funa is hopeful that the insurance penetration rate in the country last year surpassed the record 1.71% seen at the end of 2020. — L.W.T. Noble

Vitarich ramps up bird flu safety measures

VITARICH CORPORATION FACEBOOK PAGE

FARM products manufacturer Vitarich Corp. said that it is implementing programs to ensure that its facilities will not be affected by avian influenza or bird flu amid the recent outbreak of the virus.

“At Vitarich, we are committed to making sure our farms and facilities remain avian influenza-free. We recognize there are fears that the disease might extend to chickens and potentially disrupt our local food supply,” Senior Vice-President Reynaldo D. Ortega said in a statement on Thursday.

“As such, Vitarich has further heightened the implementation of our standards and is coordinating closely with appropriate authorities and experts,” added Mr. Ortega, who is the general manager of the poultry, food and feed sales division.

In March, the Department of Agriculture suspended the movement of domestic and captured wild birds and poultry products as a precaution against the virus.

Vitarich said its farms are undergoing monitoring, testing, and enforcement of biosecurity standards regularly.

“These procedures guarantee well-sanitized and enclosed surroundings that prevent contamination and ensure a well-stocked inventory and continuous supply of fresh chickens for our country,” the company said.

“We take pride in the implementation of these regular stringent measures to ensure the highest freshness, cleanliness, safety, and quality of our products at all times,” it indeed.

Vitarich operates in three primary industry segments: feeds, foods, and farms.

The company sells its feed products to various distributors, dealers and end users nationwide. Its farm products are day-old chicks and pullets while its food products composed of chicken and dory fish are sold to hotels, restaurants, institutional clients, and supermarkets as well as to wet markets.

At the stock exchange, Vitarich shares remained unchanged at P0.63 apiece on Thursday. — Luisa Maria Jacinta C. Jocson

UP edges La Salle, 61-59, snatches solo second

ZAVIER LUCERO — THE UAAP

By Jhon Bryan Ulanday

ROOKIE Zavier Lucero dazzled for a career-best outing as University of the Philippines (UP) turned it up late for a thrilling 61-59 win over La Salle to gain a solo second place in the University Athletic Association of the Philippines (UAAP) Season 84 at the Mall of Asia Arena on Thursday.

Continuing to be a revelation for the Fighting Maroons, the Filipino-American forward erupted for 21 points and 14 rebounds including nine offensive boards, two steals and a block as they notched their fifth consecutive win for a 5-1 record behind unbeaten champion Ateneo.

Carl Tamayo added nine markers and 11 rebounds, CJ Cansino also had nine on two treys while Joel Cagulangan provided a spark with five markers, five boards, seven assists and two steals against his former team.

Malick Diouf and James Spencer also stepped up for veteran Ricci Rivero’s scoreless showing with seven each for the Fighting Maroons, who eked out another close win after overcoming Adamson on Tuesday, 73-71.

“I felt that we struggled offensively the whole game but we turned it up on defense especially in the fourth quarter,” said coach Goldwin Monteverde as UP limited La Salle to 11 points in the deciding quarter.

Despite a sizzling four-game winning rampage, the sloppy Fighting Maroons with 23 turnovers trailed for the most part of the game including a 45-52 deficit midway through the payoff period before Mr. Lucero, who sizzled for 20 against the Soaring Falcons, took over.

The 6-foot-6 ace poured 11 of his career-high campaign in the final canto highlighted by a go-ahead putback in the 1:48 mark for a 61-59 cushion as UP held the fort the rest of the way to complete a 16-7 finishing kick.

Justine Baltazar hauled his own in a duel with Gilas Pilipinas teammate Mr. Tamayo with 13 points and 10 boards, but La Salle still fell short to get a win run going anew after taming Santo Tomas the other day, 75-66.

Evan Nelle also put up 13 in La Salle’s second loss in six starts to slip at third place with still a game to spare in the first round of eliminations.

The Scores:

UP 61 – Lucero 21, Tamayo 9, Cansino 9, Spencer 7, Diouf 7, Cagulangan 5, Fortea 3, Rivero 0, Alarcon 0, Abadiano 0.

La Salle 59 – Baltazar 13, Nelle 13, M. Phillips 9, Nonoy 9, Winston 7, Lojera 3, Galman 3, Nwankwo 2, Austria 0, B. Phillips 0, Cuajao 0.

Quarterscores: 17-17, 32-35, 43-48, 61-59.

Actress Betty White’s personal belongings to go under the hammer

Betty White in Archive of American Television (1997) — IMDB.COM

BEVERLY HILLS —  Personal items that once belonged to the iconic comedic actress Betty White, including a gold watch from her mother, are set to go up for auction in September.

Awards, paintings, scripts, jewelry and red carpet outfits from the homes of The Golden Girls actress were put on display at Julien’s Auctions in Beverly Hills on Tuesday. White died at age 99 on Dec. 31.

“This is an auction representing an incredible life and career. It’s a lifestyle auction,” said Martin Nolan, the executive director of Julien’s Auctions. “All these items came from her home in Brentwood or her residence in Carmel in northern California, where she lived with her husband Allen Ludden,” he added.

The most personal item, according to Mr. Nolan, is a “14-carat gold watch that was gifted to Betty Dec. 25, 1940 with the initials T.C.W. which, of course, is Tess White, Betty’s mom.”

White started her career in radio in the late 1930s and by 1939 had made her TV debut. By 1952, White had her own television series Life with Elizabeth and went on to have iconic roles in The Mary Tyler Moore Show and The Golden Girls.

She was one of the first recipients of a star on the Walk of Fame in 1960. A smaller replica, given to the recipient when they are awarded the star, is up for auction.

There are also numerous paintings of animals and paintings by animals.

“Pets were her thing. She said that she liked to keep her job in show business so that she could support her business with animals,” Mr. Nolan said.

Up for auction are three paintings by Koko, a gorilla who communicated using sign language.

Nolan values the entire collection at $1 million to $2 million. The auction will take place Sept. 23-25 in Beverly Hills. —  Reuters

Biden warns Amazon ‘Here we come’ after New York union vote

PRESS.ABOUTAMAZON.COM

PRESIDENT Joe Biden took a shot at Amazon.com, Inc. over its battles with employees seeking to unionize.

Speaking to members of North America’s Building Trades Unions in Washington on Wednesday, Biden touted his administration’s efforts to make it easier for workers to form labor unions.

“By the way, Amazon, here we come,” the president said, drawing applause. “Watch. Watch.”

The comments come on the heels of a victory for Staten Island, New York warehouse workers who formed a union in the face of opposition from Amazon. A second vote is expected at another Amazon warehouse in Staten Island, and organizers are eying union pushes at more of the company’s facilities in the region. 

The Retail, Wholesale and Department Store Union is attempting to win another election at an Amazon warehouse in Bessemer, Alabama after losing a vote last year.

Biden said his White House is intent on empowering organizing workers “to make sure the choice to join a union belongs to workers alone.”

“That’s what unions are about — providing dignity and respect for people who bust their neck,” Biden said.

The president has shown antipathy toward employers perceived as anti-union, most notably in his relationship with Tesla, Inc. Biden has seldom mentioned the company and has not visited any of its factories, even while celebrating efforts by Ford Motor Co. and General Motors Co. to launch electric models.

The snubs have irked Tesla co-founder Elon Musk.

But recently, Musk hosted Labor Secretary Marty Walsh for a tour of Tesla’s new factory in Austin, Texas. Walsh said in an interview with Yahoo Finance Live that Musk told him he’s not opposed to Tesla employees seeking to form a union, if they want. — Bloomberg

Knights, Cardinals battle to keep NCAA headstart

LETRAN’S Pao Javillonar, Rhenz Abando — NCAA/GMA/ANGELA DAVOCOL

By Joey Villar

LETRAN and co-leader Mapua part ways as the two collide on Friday even as San Beda stakes its unblemished record against San Sebastian in the 97th National Collegiate Athletic Association (NCAA) basketball tournament at the La Salle Greenhills Gym.

The winner of the noon duel between the Knights and the Cardinals, who are unscathed in three starts, should keep their place at the helm alongside the Lions, assuming the Mendiola-based dribblers could hurdle the Stags in their 3 p.m. showdown.

Rhenz Abando is expected to carry the fight for the reigning titlist anew after unleashing a monster effort — 24 points, five rebounds, four assists, three steals and a block—in a 68-57 win over University of Perpetual Help on Sunday.

“We will treat every game as if it’s a championship game because we know it’s a short tournament,” said the prized 22-year-old transferee from University of Santo Tomas.

Letran will face a Mapua team out to gain respect after barging into a three-way tie for first despite going under the radar in the pre-season.

Mr. Abando should find a worthy foe in Mapua skipper Warren Bonifacio, who is not as flashy and as athletic as the former but boasts of grit and steely nerves as evident in the Cardinals’ 65-59 win over the Stags on Tuesday.

“We were just told to play hard, defend and do everything to help our team win,” said the 23-year-old San Simon, Pampanga native, who dropped a 16-point, 14-rebound effort in their most recent triumph.

San Beda, which was coming off a 67-53 win over Jose Rizal University (JRU) on Sunday, for its part, will gun for a fourth win in row against an SSC team that is eyeing to improve on its 1-2 card.

Kacific: More satellite operators expected to enter PHL

By Arjay L. Balinbin, Senior Reporter

MORE satellite operators are expected to enter the Philippines as a result of President Rodrigo R. Duterte’s executive order allowing inclusive access to satellite services, Kacific Broadband Satellites said.

“With the signing of Executive Order 127, we expect more satellite operators to take interest in expanding operations in the Philippines,” Jose Daniel E. Belgira, national partnership manager for the Philippines at Kacific, told BusinessWorld in a recent e-mail interview.

“We see this as an opportunity for the industry as a whole to benefit, as more people start to gain awareness and consideration of satellite connectivity as an alternative internet source,” he added.

Mr. Duterte’s executive order, which he signed in 2021, expands internet services through inclusive access to satellite services. It amends Executive Order 467, which required telecommunication companies to get a congressional franchise before using satellite facilities.

“If anything, entry of LEOs (low-earth orbit satellites) like Starlink will also help to increase the demand in internet usage, penetrate new markets and address the demand of the enterprise customers with high-speed products,” Mr. Belgira said.

The Trade department announced last week that Space Exploration Technologies Corp. (SpaceX) was already preparing to enter the Philippine market.

“We see there is still a large opportunity for satellite internet in the Philippines, given the nature and geography of the country as an archipelago with plenty of mountainous regions,” Mr. Belgira said.

He noted that 32% of the population remains unconnected with an additional 10% in underserved areas.

He also said it remains difficult and costly for internet service providers to offer mobile and fiber services in remote regions.

“As such, satellite broadband now serves as a viable and more affordable option to connect the last mile, and may also complement existing internet infrastructure as a… redundancy service.”

There has been a rapid shift to digital connectivity during the pandemic, especially for e-learning, remote work, and online transactions. The digital shift disenfranchises remote and underserved communities, Mr. Belgira said.

Kacific, which operates in Southeast Asia and Pacific Island regions, said it has connected over 100,000 communities in the remote areas of Mindanao and Visayas.

Mr. Belgira said the key challenge for LEOs will remain the price of the remote antennas, which is usually in the range of $9,000 to $13,000 without shipment and duties.

“We understand that the satellite industry is historically known to be expensive and unreliable,” he added.

According to the company, it is already taking steps to address the challenge “by offering cheaper equipment for as low as P31,200.”

Shawn Mendes’ new song not holding back after public breakup

SHAWNMENDESOFFICIAL.COM

SHAWN Mendes is working through his very public breakup with singer Camila Cabello with his new single, “When You’re Gone.”

Mr. Mendes called the up-tempo tune therapeutic and said it is about the “essence of processing a breakup and what that is and memories and all of these feelings kind of start flowing.”

He added, “I think after the breakup happened, I realized how much of myself I was being protected by this person and that I needed to be able to protect that part of me too. And that’s a huge moment, and I think that you don’t really get to see those weak spots are those vulnerable spots that you need to care and love until they’re open.”

The hook of the song features the lyrics “It’s hard for me to let go of you, I’m just trying to hold…” When asked if he is holding on, Mr. Mendes replied: “No, I’m not holding on.”

Mr. Mendes and Ms. Cabello announced the end of their roughly three-year relationship in Nov. 2021 on Instagram.

While releasing music is always nerve-racking for the 23-year-old, he said he is happy fans are relating to the song released Thursday by Island Records, part of Universal Music Group.

In June, Mendes will kick off his 86-arena Wonder: The World Tour in Portland, Oregon. The Canadian said touring is a creative life force that powers the part of him that is able to create music and be artistic, which is something he showcases in his music video for “When You’re Gone.”

“I wanted to like just film that and put it out there to be like, ‘Guys, this is what this is.’ You know, it’s been a minute.”—  Reuters

Social differences and the middle class

WHEN Pulse Asia released the socio-economic profile of its respondents in its recent survey, it is notable that the class AB was not covered. Class C composed 8% of respondents, Class D1 was the biggest chunk at 61%, Class D2 at 18% and Class E at 13%.

Most analysts of the forthcoming polls agree on one thing — the election will be decided by the votes of class D-E.  Despite all the revelations about ill-gotten wealth, unpaid estate taxes, false claims in school records, mediocre accomplishments in past positions held, and the unwillingness to engage in public debate, the D and E segment, at least according to the surveys, favor the candidate so accused. These are still surveys, so it remains to be seen whether these will translate to actual votes.  But to the scrupulous and conscientious, these initial results reveal an inability to communicate these lacking competencies of the leading candidate.

The survey results show how important social status is as an element in communication. Social status refers to the relative rank or standing of an individual in the eyes of others. People have difficulty navigating status differences when trying to inform or persuade others.  Such differences often create bias against those with perceived lower status.

According to various models, the communication process is comprised of five general components: the sender (or information source), the transmitter (which encodes the message), a channel (where signals pass through), the receiver (who decodes the message) and the destination (also the recipient). In between social classes, there are barriers or noise, the biggest of which is diversity which leads to preconceived notions, biases and resistance. This noise is aggravated by technology and social media with its preponderance of short and unvalidated clips that build perceptions masquerading as truth.

My friends ask why some people are not able to see the truth or at least detect the lies. While the observations may be valid, sometimes the problem lies not so much with the message but the approach of the sender and the appreciation of noise. The higher-class groups (A, B, C) may tend to be self-righteous. With said attitude, there is little effort to recognize the others’ perspective and how they interpret things. There are differences that must be recognized, and the greatest need is for the communicator to have more empathy, to put themselves in the place of the recipient and to remain humble.

For this reason, the country should aim to work for a strong middle class in the long run to lessen the dissonance. According to Samuel Huntington in The Third Wave, “Growth in global economic output helped modernize many less developed countries. Economic modernization, which includes structural changes like increased rates of urbanization, education and a rising middle class, unleashes a constellation of social forces with the organizational capacity and education to press for democratic governance.” Many scholars believe, though not without opposing views, that more equitable and sustainable development can only be achieved with the help of a middle class that will drive progress and equality.  The NEDA’s Ambisyon Natin 2040 also proposes that expanding the Filipino middle class is key to achieving Philippine development goals.

According to a PIDS note, about 2 in every 5 Filipino belong to middle-income class, nearly three-fifths to low income and the remaining 1.4% to high income. A World Bank (WB) June 2020 paper on the middle class, however, notes a lower percentage number. The share of the middle class in total population in the Philippines is 9.2%, compared with 17.7% in developing East Asia and Pacific and 12.8% in developing countries. The Philippines not only has a small middle class compared with regional peers but has also experienced lower expansion.

The WB study identify the main impediments to upward mobility and more rapid expansion of the middle class. It recommends structural upgrade to increase the dynamism of the private sector to create more well-paying job opportunities. It calls for the need to improve skill, training and education quality for the labor force. It advocates improved financial services, access and use and improved support for school to work transition.

The forthcoming political exercise may be impaired because of the messaging to the social classes that dominate the electorate. There is no quick fix, and we can only hope for results that will not exacerbate the inequality in Philippine society. For the long haul, we need to see the emergence of a bigger middle class as one way to improve the governance setting, especially the choice of political leaders. A strong middle class invests in human capital, has better educational attainment, is expected to practice discernment and can serve as agents of change for better public service.

 

Benel Dela Paz Lagua was previously executive vice-president and chief development officer at the Development Bank of the Philippines. He is an active FINEX member and an advocate of risk-based lending for SMEs. The views expressed herein are his own and does not necessarily reflect the opinion of his office as well as FINEX.