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CD Projekt committed to fixing Cyberpunk 2077 so it can sell ‘for years’

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WARSAW — Video games maker CD Projekt has no plans to shelve Cyberpunk 2077 and is committed to fixing glitches to make its flagship game a long-term success after a troubled rollout, joint chief executive Adam Kicinski told Reuters. Mr. Kicinski said CD Projekt was in touch with Sony, which pulled Cyberpunk 2077 from its PlayStation Store only a week after its debut in December amid complaints of glitches in the video game. The role-playing game, billed as an “open-world, action-adventure story set in … a megalopolis obsessed with power, glamour and body modification” and featuring Hollywood star Keanu Reeves, was delayed three times before its debut. “I don’t see an option to shelve Cyberpunk 2077. We are convinced that we can bring the game to such a state that we can be proud of it and therefore successfully sell it for years to come,” Mr. Kicinski said. CD Projekt released a patch for Cyberpunk 2077 last month, and Mr. Kicinski said the new 1.2 patch was a step towards the game’s return to the PlayStation store and that the Polish games maker had “friendly relations” with Sony. Cyberpunk 2077 had been CD Projekt’s most-anticipated game since 2015’s The Witcher: Wild Hunt. Last month the company also unexpectedly canceled plans to develop a standalone multiplayer version of Cyberpunk 2077. — Reuters

Meralco extends no-disconnection policy until end-April

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MANILA Electric Co. (Meralco) has extended the suspension of disconnection activities in its franchise area until April 30, after the government announced that the National Capital Region and nearby provinces will be placed under a modified enhanced community quarantine (MECQ).

“We hope this extension will help lessen the burden of our customers and provide enough relief and time for them to settle their bills,” Meralco First Vice-President and Chief Commercial Officer Ferdinand O. Geluz said in a press release issued on Monday evening.

He added that the power distribution utility will continue to be considerate during this period and promised to assist its customers with their concerns.

Meralco will also continue meter reading and other vital operations in line with the previous order of the Energy Regulatory Commission (ERC), Mr. Geluz said, adding that the company will strictly implement health protocols for the safety of its workers and customers.

On Tuesday, consumer advocate Power for People Coalition (P4P) welcomed Meralco’s move, but said that the power firm still had to resolve its alleged “anomalous billing and power purchase practices.”

“Meralco’s moving its deadlines does afford consumers a bit of respite from the constant threat of disconnection while making a living remains difficult amid another enhanced quarantine, but it does not mean that we owe Meralco any thanks as it keeps refusing to acknowledge that many of its customers still receive questionable charges,” P4P Convenor Gerry C. Arances was quoted as saying in a statement.

He said Meralco is “not solving anything” unless it stops buying power from unreliable coal facilities, the cost of which is passed on to consumers.

P4P noted that the “no-disconnection” extension came a week after the company announced a rate hike of P0.0872 per kilowatt-hour (kWh) to P8.4067 per kWh for the billing month of April. Meralco attributed the rise in its overall power rate to higher spot market prices.

In a separate statement on Tuesday, Senator Sherwin T. Gatchalian, chairman of the Senate energy committee, called on energy sector agencies and stakeholders to ensure continuous and reliable power supply during the home quarantine period as the government rolls out its vaccination program.

He also asked power generation companies to defer planned maintenance shutdowns to a later date, if possible.

Shares of Meralco at the local bourse inched down by 1.28% or P3.6 to close at P278.60 on Tuesday.

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., which has interest in BusinessWorld through the Philippine Star Group, which it controls. — Angelica Y. Yang

SMIC sets early redemption of bonds due in 2024

SM Investments Corp. (SMIC) will exercise the early redemption of its 10-year bonds due in 2024 on May 19, its 14th interest payment date, the Sy-led listed holding company told the stock exchange on Monday.

SMIC’s “Series F” bonds, which are listed on the Philippine Dealing Exchange, will have an early redemption price of 102% of its principal amount.

According to its listing at the Philippine Dealing and Exchange Corp., the bonds have an issued amount of P3.33 billion with a coupon rate of 5.6125%.

The bonds were part of the P10-billion fixed-rate bonds SMIC issued in 2014. In its final prospectus, the net proceeds of the issue are said to be used “primarily to refinance certain existing debt obligations and finance expansion projects.”

The company notified Philippine National Bank Trust Banking Group, the assigned trustee of the bonds, about its plan to redeem the bonds ahead of its maturity date.

On Tuesday, SMIC shares at the stock exchange went down by 0.21% or P2 to close at P970 each. — K.C.G. Valmonte

Gov’t to implement single-rate fee structure for PPSA registry

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THE GOVERNMENT wants to implement a single rate for services under the Personal Property Security Act (PPSA) Electronic Registry, the Department of Finance (DoF) said.

The DoF posted the draft administrative order on its website on Tuesday which outlines the rates and fees that will be charged under the PPSA electronic registry.

The draft said the registration of a “termination” notice and general queries in the centralized registry would be free, while P30 will be charged per transaction when registering for an “amendment” notice as well as when requesting for certified true copies of documents and other certifications.

Meanwhile, a single rate of P380 will be charged for the registration of new notices.

The DoF said a single-rate fee structure will allow users to avail of the services at the same price, regardless of the actual amount of security interests that they register or want to be certified.

“This is in line with the mandate of the law to allow the recovery of the cost of establishing and operating the PPS registry, but at the same time, ensuring that the fees to be imposed shall not be burdensome to either lender or grantor,” the DoF said.

The DoF will accept comments on the draft until April 22.

Republic Act 11057 or the Personal Property Security Act allows micro, small, and medium enterprises as well as farmers and fisherfolk to offer movable properties as loan security collateral to encourage lenders to extend more credit to the sector.

Movable properties include accounts receivable, inventory, negotiable instruments, electronic securities, crops, livestock, consumer goods, machinery and equipment, among other things.

The Land Registration Authority (LRA) was tasked to set up a centralized online registry to handle the notices for the PPSA.

The online platform was scheduled to go live in May 2020. The electronic registration was a key feature of the law since the full implementation of the measure is only available until the registry is online.

The DoF said it worked with the LRA and the National Tax Research Center to determine the rates of fees and charges.

“A single-rate fee structure is easy to implement and will not be burdensome to either lender or grantor, which is the primary directive of the law,” it added. — B.M. Laforga

COVID‑19 vaccine effectiveness

Thomas B. Cueni, director general of the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA), emphasized that vaccine makers are fully committed to transparency in reporting clinical trial results. They likewise support the need to inform the public of what they know, as well as what they don’t know about the vaccines in development.

“We must prioritize thorough validation of the results of pre-clinical and clinical trials by independent expert bodies. Only the most rigorous application of science and openness in the regulatory process can ensure that everyone, starting with healthcare workers, has confidence in COVID-19 vaccines once they have been properly approved,” he wrote in an opinion piece (Financial Times, September 2020).

IMPORTANCE OF CLINICAL TRIALS
As the foremost representative of the global research-based medicines and vaccines industry, the IFPMA provides information on the effectiveness of coronavirus disease 2019 (COVID-19) vaccines.

It explained that Phase 3 clinical trials are the last and largest phase of vaccine testing before authorization or approval. These trials test how effective a vaccine is at preventing COVID-19 and are being conducted with tens of thousands of volunteers around the world. During Phase 3, some volunteers get a COVID-19 vaccine and some get a placebo, a harmless injection with no active drug or treatment, for example, like normal saline.

To learn how effective a vaccine is at preventing a specific disease, researchers assess the vaccine efficacy rate which compares (a) the number of volunteers who got COVID-19 after getting the vaccine being studied; and (b) the number of volunteers who got COVID-19 after getting a placebo. Thousands of people have volunteered to take part in different COVID-19 Phase 3 trials around the world. Some of these trials reported vaccine efficacy rates of over 90%.

All of the authorized COVID-19 vaccines go beyond the minimum efficacy level of 50% required by the Food and Drug Administration (FDA). This means that the FDA would not authorize a vaccine unless it prevented COVID-19 or lessened its severity in at least 5 out of 10 (50%) of people who got the vaccine. After a vaccine is authorized, health authorities continue to monitor its safety and effectiveness.

HOW SOON, HOW LONG?
After receiving a vaccine, your body’s immune system needs a little time to learn how to detect and fight the virus. This maturation of the immune system can vary but is usually around a few weeks. Each authorized or approved COVID-19 vaccine has different speeds for how quickly it protects you. The speed of response can depend on factors such as the dosing schedules or the number of doses.

Based on clinical trial data of the currently authorized or approved COVID-19 vaccines, optimal protection is reached within a few weeks of vaccination. For two-dose vaccines, some early protection is achieved after the first dose.

It is too early to know how long COVID-19 vaccines will provide long-term protection. More research is needed to answer this question. The currently available data suggest that most people who recover from COVID-19 infection develop an immune response that provides at least some protection against reinfection (getting it again) — this is called natural immunity. We’re still learning how strong this natural immunity may be, and how long it lasts.

Health authorities will continue to monitor the clinical trial volunteers for many months to check how long they are protected. Both natural immunity and immunity from a vaccine are important aspects of COVID-19 that experts are trying to learn more about.

People ask if you can still get COVID-19 or spread the virus after getting vaccinated. The answer is maybe. Clinical trials have shown that COVID-19 vaccines significantly lower the chance a person will have symptoms, including hospitalizations and severe symptoms. However, none of the COVID-19 vaccines tested so far have been 100% effective at preventing COVID-19. So, some people who get the vaccine may still get the virus.

Furthermore, we still do not know if the vaccines will prevent someone who is infected (but doesn’t have symptoms) from spreading COVID-19 to others. Research tends to show that a vaccinated person is less likely to spread COVID-19 to those who are more vulnerable (have a higher risk of severe COVID-19 infection), similar to what happens with vaccines for other respiratory infectious diseases such as influenza.

This is why it remains important to continue washing hands, practice social distancing, and wear a mask even after you get a vaccine.

 

Teodoro B. Padilla is the executive director of the Pharmaceutical and Healthcare Association of the Philippines (PHAP). PHAP represents the biopharmaceutical medicines and vaccines industry in the country. Its members are at the forefront of research and development efforts for COVID-19 and other diseases that affect Filipinos.

Arts & Culture (04/14/21)

FILIPINO artist-educator Wilfredo Offemaria, Jr.

Free online workshop on mounting 3D virtual exhibits

VIRTUAL Frames, a two-part online lecture and workshop will tackle on how to create and curate 3D virtual exhibitions, with hopes to assist the arts and culture sector as it pivots to the digital landscape amid the pandemic. Artist-educator Wilfredo Offemaria, Jr. will share his expertise on SketchUp, a 3D modelling computer program utilized to mount virtual exhibitions. He will discuss the fundamentals and various techniques of the software, which may be used for architectural, interior, landscape, film and video game design, plus civil and mechanical engineering works. Virtual Frames will guide the participants in the process of organizing their exhibits, from the pre-production process, production proper and post-production evaluation. The tutorial covers the research, planning and writing, exhibit abstract and proposal, timetables and schedules, and logistics as well as the creation of layout, design, collaterals and the launch of the gallery. Mr. Offemaria is currently an instructor at the Design Foundation of the De La Salle-College of Saint Benilde School of Design and Arts. The pre-production and introduction to Virtual Frames will be held on Monday, April 19, 2:30 to 4:30 p.m., while the workshop on building and curating will be on April 21, 11 a.m. to 2 p.m. The lectures will be livestreamed on the official Facebook page of Benilde’s Arts and Culture Cluster (https://www.facebook.com/benildearts).

Salcedo Private View’s ‘Istorya Namon Subong: Our Stories Now’

CURATED by Gina Jocson, Salcedo Private View’s “Istorya Namon Subong: Our Stories Now” exhibition features Negrense artists Moreen Austria, Katarina Estrada, Karina Broce Gonzaga, Elwah Gonzales, Erika Mayo, Megumi Miura, Angela Silva, and Josephine Turalba. “Istorya Namon Subong: Our Stories Now” reveals fragments of the artists’ psyche as they each grappled with hope and loss during the COVID-19 pandemic. The exhibit forms part of the exhibition and public program of Salcedo Private View as part of Art Fair Philippines 2021. “Istorya Namon Subong: Our Stories Now” opens on April 14 and runs until May 8 at the Salcedo Auctions showroom, located at NEX Tower, 6786 Ayala Ave., Makati City. For inquiries, call 0917-825-7449 or e-mail info@salcedoauctions.com.

Gateway Gallery’s KulturaSerye tackles pre-colonial life in the Philippines

AS PART of the 2021 Quincentennial Commemoration in the Philippines — which marks the 500 years of the first circumnavigation of the world and the arrival of a Western expedition in the country — Gateway Gallery presents the second installment of KulturaSerye: Michael Charleston “Xiao” Chua’s talk “Batek, Bagani, Boxer: Pagsaysay sa Sining ng Ating mga Ninuno.” The talk will retrace the pre-colonial life of the early Filipinos immediately before and during the early years of Western contact. The talk will unravel the distinct lifestyle in the islands through various material manifestations such as tattoos, clothing, ornamentation, and other accessories. Professor Chua of the History Department of the De La Salle University is a historian, academic, and TV personality. The free KulturaSerye webinar will be aired on April 17, 2 p.m., on the Gateway Gallery Facebook page (GatewayGalleryPH). Viewers are encouraged to join and share in the discussion. It will be moderated by UP Los Baños lecturer John Carlo Santos. KulturaSerye does not require pre-registration. Certificates of attendance will be provided to those who complete the webinar. For details about KulturaSerye, contact the Gateway Gallery at 8588-4000 local 8300, gatewaygallery@aranetagroup.com, or via its social media pages: Facebook (GatewayGalleryPh), Instagram (gateway.gallery), Twitter (gateway_gallery), and YouTube (Gateway Gallery). Gateway Gallery is the art museum of Araneta City, located at the 5th Floor of Gateway Tower, Araneta City, QC.

Silverlens presents Eduardo Olbés online exhibit

SILVERLENS is currently holding an online exhibit of works by Eduardo Olbés. Called “i always knew that someday i would be a rockstar.” The exhibit is on view until April 22. Informed by the aesthetic traditions of his Philippine roots, as well as those of the West and Mesoamérica, Mr. Olbés’ oeuvre nurtures a diverse dialogue between various cultures and time periods. The Tepoztlán-based artist’s attachment to natural and ancient elements, from wood to mineral, dictates the direction of his works and forms the cornerstone of his sculptural practice. For his first online exhibition, Mr. Olbés presents two sculptural series: Bulul and Flat Standing. The former set features six busts that reference the indigenous Philippine sculpture, the bulul, while the latter offers a selection of vertical non-figurative sculptures.

Lauchengco holds 2nd kintsugi workshop

UNABLE to perform because of the ongoing COVID-19 pandemic, singer Raymond Lauchengco found solace in sculpture, and held a series of online exhibits of his works last year. In December he started studying the Japanese art of kintsugi — the restoration of broken ceramics in a way that honors their scars. Soon, people started sending him their broken vases and plates for restoration. Then he started to teach. He will be holding the second online workshop, Unbroken, on April 24 2-5 p.m. Students will receive a kit that includes everything they will need to complete two projects. Register for the class through the link: https://ph.sotruenaturals.com/products/unbroken-with-raymond-lauchengco-a-modern-take-on-the-art-of-kintsugi-april-24-saturday-2-5pm

Instituto Cervantes showcases contemporary filmmakers

INSTITUTO Cervantes de Manila is screening online the work of four contemporary Spanish filmmakers this April. The films are being shown through the Instituto Cervantes channel on the Vimeo platform (vimeo.com/institutocervantes) and are freely accessible for 48 hours from their start date and time. This week’s feature film is Mala espina (2001), a short film by Belén Macías, which tells the summer story of a teenage girl who has a huge conflict with her elders. Mala espina is available to screen for free on April 14 and 15 through https://vimeo.com/519059285.

The Philippines ranks 44th in ‘Best Countries’ list

The Philippines ranks 44th in ‘Best Countries’ list

March and Q1 2021 car sales

AUTO SALES in March surged by almost 88% compared with a year earlier as the industry recovers from the impact of the strict lockdown implemented last year. Read the full story.

March and Q1 2021 car sales

How PSEi member stocks performed — April 13, 2021

Here’s a quick glance at how PSEi stocks fared on Tuesday, April 13, 2021.

Manila summons Chinese envoy over vessels in disputed waters

MANILA on Monday summoned China’s ambassador to convey its “utmost displeasure” over the continued presence of Chinese militia vessels in a Philippine-claimed reef in the South China Sea.

Whitsun Reef, which the Philippines calls Julian Felipe, is within its exclusive economic zone, Foreign Affairs acting Undersecretary Elizabeth P. Buensuceso had told Chinese Ambassador Huang Xilian, the Department of Foreign Affairs (DFA) said in a statement on Tuesday.

“The continuing presence of Chinese vessels around the reef is a source of regional tension,” it added.

Ms. Buensuceso had also cited a United Nations arbitral ruling in 2016 favoring the Philippines and rejecting China’s claim to more than 80% of the disputed waterway based on a 1940s map.

The Chinese embassy was reminded of “proper decorum and manners in the conduct of their duties as guests of the Philippines” after it cautioned Defense Secretary Delfin N. Lorenzana against issuing “unprofessional remarks,” DFA said.

“Both sides affirmed the use of peaceful settlement of disputes in addressing their differences on the South China Sea/West Philippine Sea issue,” it added.

“In closing, the DFA reiterated the firm demand of the Philippines that China ensure the immediate departure of all its vessels from the area of Juan Felipe reef and other maritime zones of the Philippines,” it said.

Foreign Affairs Secretary Teodoro L. Locsin, Jr. tweeted on Tuesday there were only nine Chinese ships left, based on a report by a national task force.

The Philippines last month filed a diplomatic protest against China after the vessels moored at Whitsun Reef. The Chinese Embassy said the reef is part of its territory and the vessels had taken shelter due to rough sea conditions.

Mr. Lorenzana on April 3 urged the remaining 44 Chinese vessels to leave. He said the Chinese had no reason to stay there since the weather had improved.

The Chinese Embassy reiterated the reef is part of China’s Nansha Island, adding that the waters around the reef had been “a traditional fishing ground for Chinese fishermen for many years.”

It also said it hopes authorities would make constructive efforts and avoid “unprofessional remarks which may further fan irrational emotions.”

Mr. Lorenzana on Sunday discussed the situation in the South China Sea and regional security developments with his US counterpart on Sunday, his spokesman said.

He and US Secretary of Defense Lloyd J. Austin III are both looking forward to war games that got canceled last year because of a coronavirus pandemic, military spokesman Arsenio R. Andolong said.

During the teleconference, Mr. Austin also reiterated the importance of the visiting forces agreement “and hopes that it would be continued.” Mr. Lorenzana committed to discuss the matter with President Rodrigo R. Duterte.

Meanwhile, the Philippines needs the support of its allies including the United States in keeping China’s activities in the South China Sea in check, said Collin Koh, a research fellow from the Institute of Defence and Strategic Studies in Singapore.

“It is undeniable… that American support will be vital,” he told an online news briefing. “Let the aggressor be aware that there were attempts undertaken to capture evidence that could be used subsequently for any follow on political or legal recourse.”

“We’re not talking about Americans providing escorts themselves but providing air cover, providing maritime awareness data, and looking around somewhere could actually be a good way to remind the Chinese that there will be potential consequences if they escalate,” he added.

At the same forum, Senator Risa N. Hontiveros-Baraquel said the government should “rethink” its alliances.

“We must be consistent and firm in standing up for our national interests,” she said. “We should hold China accountable for the damage she has done to fragile marine ecosystems within our exclusive economic zone.”  — Vann Marlo M. Villegas

Gov’t eyes 40 million doses of Pfizer shots by the third quarter

THE PHILIPPINES expects to take delivery of as many as 40 million doses of Pfizer, Inc.’s coronavirus vaccine by the third quarter, according to the presidential palace, amid criticisms of a slow vaccine rollout.

The government may get 20 to 40 million doses, vaccine czar Carlito G. Galvez, Jr. told a televised news briefing on Tuesday.

He said government officials have signed a waiver freeing the drug maker from potential lawsuits in case of side effects, which would pave the way for the delivery.

The government would also take delivery of almost 200,000 doses of the coronavirus vaccines made by Moderna, Inc., Mr. Galvez said.

The state ordered about 13 million doses from Moderna. The private sector, led by billionaire Enrique K. Razon, Jr. also bought 7 million doses.

The first shipment of Pfizer vaccines was supposed to have arrived in February but was delayed after officials failed to sign the so-called indemnification clause of the contract.

The government is set to sign a supply deal with another American company, Janssen Pharmaceuticals, Inc. for as many as five million doses of its coronavirus vaccine.

Mr. Galvez said the country also expects about 20 million doses of the vaccine developed by Russia’s Gamaleya Research Institute of Epidemiology and Microbiology.

The Department of Health (DoH) reported 8,571 coronavirus infections on Tuesday, bringing the total to 884,783.

The death toll rose by 137 to 15,286, while recoveries increased by 400 to 703,963, it said in a bulletin.

There were 165,534 active cases, 96.9% of which were mild, 1.8% did not show symptoms, 0.4% were critical, 0.5% were severe and 0.31% were moderate.

The agency on April 2 reported the highest daily tally of 15,310 cases since the pandemic started last year.

DoH said 13 duplicates had been removed from the tally and 53 recovered cases were reclassified as deaths. Nine laboratories failed to submit data on April 12.

About 10.2 million Filipinos have been tested for the coronavirus as of April 11, according to DoH’s tracker website.

The coronavirus has sickened about 137.3 million and killed three million people worldwide, according to the Worldometers website, citing various sources including data from the World Health Organization. About 110.5 million people have recovered, it said.

Philippine President Rodrigo R. Duterte on Monday night admitted the country was facing a shortage of coronavirus vaccines due to global supply problems. He said rich countries were being prioritized for the vaccines.

The Philippines is aiming to vaccinate 70 million people this year. More than a million Filipinos have been vaccinated as of Tuesday since the program started last month.

Meanwhile, testing czar Vivencio V. Dizon said coronavirus tests conducted nationwide increased by more than 10,000 last week.

The country held more than 60,000 tests daily from April 6 to 10 from 50,000 tests a day a week earlier, he said at the same briefing.

Mr. Dizon said more than 50,000 antigen test kits would be deployed this month in communities with outbreaks.

Meanwhile, Public Works Secretary Mark A. Villar said the government would set up 720 health facilities with 26,259 beds this month.

The Philippines has more than 9,700 temporary treatment and monitoring facilities with 128,037 beds.

Mr. Villar said the highest occupancy rate had been seen in the National Capital Region, where a third of its 6,985 beds had been occupied as of April 11.

“We will continue to identify new areas and within the month and next month we will see a very significant increase in our hospital and intensive care unit  capacity,” he said. — Kyle Aristophere T. Atienza and Vann Marlo M. Villegas

Duterte, Putin  talk vaccine, security, trade in teleconference

@SAPBONGGO

PHILIPPINE President Rodrigo R. Duterte and Russian leader Vladimir Vladimirovich Putin held a teleconference on April 13, discussing coronavirus vaccines, security ties, and trade opportunities. 

The phone conversation, which lasted around 30 minutes, was held in time for the 45th anniversary of diplomatic relations between Manila and Moscow, according to the presidential palace.

Mr. Duterte was joined by Foreign Affairs Secretary Teodoro L. Locsin, Jr. and Senator Christopher Lawrence T. Go, a former aide of the President.  

The two leaders reaffirmed their shared commitment to fight the coronavirus pandemic, the Office of the President said in a statement.

The Palace said both Presidents “discussed the global and regional vaccine landscapes, noting that vaccines such as Russia’s Sputnik V must be mobilized to as many countries as possible.” 

The Philippines would take delivery of about 20 million doses of Sputnik V developed by Russia’s Gamaleya Institute in the coming months, on top of the 500,000 doses expected to arrive this April, vaccine czar Carlito G. Galvez, Jr. told a televised news briefing on Tuesday. 

Aside from pandemic-related measures, Mr. Duterte and Mr. Putin also discussed defense and security ties, it said. 

The two leaders vowed to sustain their gains over the past five years, which were “fostered by regular exchanges between defense, intelligence and military agencies.”

Mr. Putin also emphasized the many opportunities for Russia-Philippines relations in the fields of trade and investments, agriculture and energy development “even as both countries work on further enhancing political-security cooperation,” the Palace said. — Kyle Aristophere T. Atienza

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