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FMIC expects PSEi to hit 7,800-8,100 at end-2021

THE PHILIPPINE Stock Exchange index (PSEi) is projected to reach the range of 7,800 to 8,100 at the end of the year on the back of the impending distribution of vaccines against the coronavirus disease 2019 (COVID-19), according to First Metro Investment Corp. (FMIC).

During a virtual media briefing on Thursday, FMIC Research Head and First Vice-President Cristina S. Ulang said the financial services firm expects the market’s price-to-earnings ratio to be around 18x to 19x for 2021.

She said some of the factors that could boost the market include the rollout of COVID-19 vaccines, monetary policy support, and low interest rate.

“Another thing that can affect the market is the proposed Senate Bill 1357 or the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), which will lower income taxes for the corporate sector and boost corporate earnings 24%, and can even go higher to 29% or 30%,” Ms. Ulang said.

However, she said a number of risks could affect the local market such as a delay in vaccine distribution, another wave of COVID-19 infections, and a return to stricter quarantine measures.

“We do not know what is going to happen with the virus mutation and how the vaccine is going to be deployed,” Ms. Ulang said.

She noted that the stock index had recovered 57% since the implementation of the lockdown in March 2020 and closed the trading year at 7,139.71.

“It is still low compared to the beginning of 2020, which was 7,815.26, but the one thing that is very remarkable about this market is that there has been very little foreign participation,” Ms. Ulang said.

“This gives us some thought on whether there has been a paradigm shift that the PSEi can move higher because of local participation. This is a new thing for us,” she added.

Further, Ms. Ulang said that $2.5 billion worth of outflows happened in 2020, which means that the market is “under-owned.”

“Foreign ownership is around 23.4% for 2020. It is possible that foreigners can come in due to the need to diversify and look at opportunities in Asia,” Ms. Ulang said.

In the debt capital market, 2021 will continue to be an opportunity for people who were hesitant last year to enter the market, said FMIC Investment Banking Head and Executive Vice-President Daniel D. Camacho.

Mr. Camacho added that the Bangko Sentral ng Pilipinas had been clear in using policy tools such as rate cuts when needed.

“Investors are looking for an outlet for their funds with a sweet spot on the shorter end of the curve of up to three years in tenor. However, we are starting to see modest appetite for the five-year bucket, as long as investors are aptly compensated,” he said.

On Thursday, the PSEi closed at 7,273.15, higher by 30.3 points or 0.41% from the previous trading session. — Revin Mikhael D. Ochave

Fruitas sets aside up to P270 million for 2021 capex

FRUITAS Holdings, Inc. has allotted P240 million to P270 million for its capital expenditure budget in 2021 to fund its expansion and future acquisition plans.

In a statement on Thursday, the listed food and beverage kiosk operator said that from the amount, some P150 million will be allocated for network expansion, while P70 million to P100 million will be for acquisitions and development of new concepts, and P20 million for commissary expansion.

Fruitas did not disclose how much it spent last year, but in early 2020, the company quoted around the same capital expenditure (capex) range as this year.

Fruitas said it plans to add at least 100 kiosks and 70 community stores to its network in 2021. If realized, it will bring the company’s total store count to 1,100 kiosks and 100 community stores by the end of the year.

The company added that it plans to launch two new concepts by the first quarter of 2021 and targets to expand community stores outside Metro Manila to include key cities across the Philippines.

“The increase in kiosks will come from both additional locations for its existing brands and new kiosks for its emerging concepts,” Fruitas said in the statement.

Further, the company said it was checking prospects to acquire potential targets and expand outside the country, initially within Asia.

“The company is also continuing to fine tune existing processes, from site selection to sales delivery, to improve margins,” Fruitas said.

Meanwhile, Fruitas said it was consulting with potential product partners to include additional items that will be sold in its network, and also with distribution partners to broaden the sales channels of the company’s products.

The company said that it has plans to expand current delivery channels beyond Metro Manila and Cebu in the near-term, adding that a number of community stores will be designated as delivery hubs to reduce turnaround time.

Fruitas Holdings President and CEO Lester C. Yu said the company is confident heading to 2021 due to its stronger footing amid the pandemic.

“We had a temporary setback in terms of operating results in 2020, but we were able to successfully execute numerous initiatives to broaden product breadth and client reach. There are still abundant opportunities to generate growth and improve margins,” Mr. Yu was quoted as saying.

On Thursday, Fruitas shares at the stock exchange rose 0.57% or one centavo to close at P1.75 per piece. — Revin Mikhael D. Ochave

Holcim Philippines allots P121.5M to improve alternative fuel processing facility

HOLCIM PHILIPPINES, Inc. has invested P121.5 million until 2022 to improve the alternative fuel processing facility at its cement plant in Norzagaray, Bulacan.

In a regulatory filing on Thursday, the company said the amount aims to improve the efficiency of its shredding operations that turn qualified waste materials to alternative fuels, establish new equipment, and upgrade storage and feeding facilities in its cement plant.

Holcim Philippines said the improvements will let its waste management unit support the company’s Bulacan plant in using more post-consumer and municipal solid wastes as alternative fuels, rather than coal.

According to the company, it has been using qualified wastes such as non-recyclable plastics and biomass as alternative fuels in cement manufacturing since 2003, which is converted via co-processing technology.

“In co-processing, qualified waste materials are pre-processed as alternative fuel and fed into the high-temperature kilns along with other traditional fuels to produce cement,” the company said.

“This process transforms wastes to alternative fuel and converts these into energy for cement production,” it added.

Holcim Philippines President and CEO John Stull said its waste management unit has helped communities and business partners in handling their wastes, while enabling the company to produce building materials with a more cost-efficient and environment-friendly method.

“This investment ensures we can continue being a reliable partner in the country’s sustainable development, while also meeting our objectives of making our operations more efficient and respectful of nature,” Mr. Stull was quoted as saying.

In 2020, Holcim said it had co-processed around 130,000 tons of qualified wastes from local governments, industry partners, and agricultural processors in its plants in Luzon and Mindanao.

On Thursday, shares in Holcim Philippines at the stock exchange dropped 0.84% or six centavos to end at P7.12 apiece. — Revin Mikhael D. Ochave

AirAsia launches e-shopping in PHL; food delivery, e-wallet to follow

AFTER launching its online shopping platform in the Philippines, AirAsia Group Berhad is also hoping to make its food delivery and digital wallet services available to Filipino consumers soon.

The airline group officially launched its AirAsia Shop in the Philippines on Thursday, as part of its strategy to expand its e-commerce presence in Southeast Asia.

AirAsia first launched its online shop in Malaysia in the second quarter of 2020, according to Rose Lam, AirAsia’s head of ancillary.

After its launch in the Philippines, the group will be working towards opening the platform for consumers in Thailand and Malaysia, she said at a virtual briefing.

AirAsia Group Chief Executive Officer Anthony Francis “Tony” Fernandes said: “I hope AirAsia Food will be launched in the Philippines in the not-too-distant future…”

“We are now actually working to launch BigPay, which is similar to GCash,” he added.

The group is currently focusing on restructuring its business to weather the pandemic crisis, as travel behavior is expected to return to normal by 2022.

The group has also launched a delivery service in the Philippines through its logistics tech venture, Teleport.

Its online shopping platform is an attempt to redefine Filipinos’ duty-free, travel retail, and at-home shopping experiences, according to Philippines AirAsia Chief Executive Officer Ricardo P. Isla.

“As industries shift and continue to be shaped by our current situation, AirAsia will continue to innovate amazing product offerings and experiences for our guests and customers, which is why AirAsia is the leading travel, lifestyle, and digital platform in the region,” he said at the briefing.

Among the product categories found on AirAsia’s online shopping platform are beauty, fashion, electronics and gadgets, and health and wellness. — Arjay L. Balinbin

M3 growth eases on slow lending

Money supply logged its sixth straight month of slower growth in November as lending continued to ease amid the coronavirus pandemic.

M3 — considered as the broadest measure of liquidity in an economy — increased 10.5% year on year to P13.7 trillion in November, preliminary data from the Bangko Sentral ng Pilipinas (BSP) released late Wednesday showed.

The month’s growth print was slower than the 11.6% seen in October. This also marked the sixth consecutive month of easing liquidity growth since June’s 14.9%.

Month-on-month, money supply rose by 0.5%.

“Slower M3 growth in recent months may have partly reflected some of the recent slowdown in loan demand,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a note.

Growth in domestic claims eased to 6.7% in November from 8.07% the previous month as bank lending remained weak, the central bank said in a statement.

Net borrowings by the central government also slowed to 40.7% from 46.6%, while claims on the private sector eased to 0.8% in November from 1.7% in October.

Meanwhile, net foreign assets (NFA) in peso terms rose 22.9%, slower than its 23.3% growth in October.

“The expansion in the BSP’s NFA position reflected the increase in the country’s gross international reserves during the month,” the central bank said.

On the other hand, net foreign assets held by other depository corporations including banks grew by a quicker 75.8% in November from 74.8% the prior month.

“The overall stance of monetary policy remains accommodative. Going forward, the BSP will continue to be vigilant in monitoring domestic liquidity dynamics and stands ready to deploy further monetary measures as needed, in line with its commitment to support domestic economic activity amid the COVID-19 pandemic while maintaining price stability,” the BSP said.

BANK LENDING BARELY GROWS
Meanwhile, credit growth slowed to less than a percentage point in November, with banks remaining cautious about lending as the crisis stretched on.

Data released separately by the BSP on Wednesday showed outstanding loans disbursed by universal and commercial banks grew by 0.3% year on year to P8.978 billion in November from P8.950 billion.

This eased from the 1.8% growth in October and is the slowest pace since the 1.9% logged in September 2006.

Inclusive of reverse repurchase agreements, bank lending rose 0.4%, slower than the 2.1% the prior month.

“It’s (slower loan growth) due primarily to banks’ risk aversion. They’ve been very careful in order to preserve not only their liquidity, but also, [they are thinking] would they be able to face up any eventuality,” Victor A. Abola, an economist from the University of Asia and the Pacific, said in a virtual briefing on Thursday.

“It’s not a lack of demand [for loans]. Firms are willing to borrow. It’s just that they have to pass through more rigid screening by the banks,” he added.

Mr. Abola said bank lending could pick up once lenders see solid signs of recovery among businesses.

Borrowings for production activities, which made up 87.3% of total outstanding loans, inched up by 0.5% following a 2% growth in October. This was due to a decline in loans to key industries like  wholesale and retail trade and repair of motor vehicles and motorcycles (-6%) and manufacturing (-4.2%).

On the other hand, increases were seen in loans for real estate activities (5.2%); electricity, gas, steam, and air-conditioning supply (2.7%); human health and social work activities (45.3%); transportation and storage (8.1%); and information and communication (6.5%).

Consumer loans also grew at a slower rate of 7.1% in November from 7.9% the previous month. The central bank attributed this to a slowdown in credit card loans (17.9% from 18.7% in October) and the continued decline in motor vehicle loans (-3.3% from -1.3%).

“The BSP notes that its accommodative monetary policy stance, along with sustained fiscal initiatives to safeguard public welfare, should continue to support the economy’s gradual recovery in the coming months,” the central bank said in a statement.

Mr. Abola said with liquidity and lending growth continuing to ease, the central bank will likely “tend to be accommodative.”

“They had to stop because of the spike in inflation but as soon as the fourth-quarter [gross domestic product] figures come up, which will still be negative, there will be reason to ease up further,” he said, noting he expects another 25-basis-point (bp) cut in policy rates.

The BSP last year slashed benchmark interest rates by 200 bps to help support the economy. This brought the rates on its overnight reverse repurchase rate, lending, and deposit facilities to record lows of 2%, 2.5%, and 1.5%, respectively.

BSP Governor Benjamin E. Diokno has said they intend to keep rates low until the country resumes its annual growth trajectory of 6.5% to 7.5%. — L.W.T. Noble

Multisys’s StaySafe.ph removes GPS, Bluetooth for data privacy

MULTISYS TECHNOLOGIES Corp., the developer of StaySafe.ph, has removed the GPS and Bluetooth features of the contact-tracing app to ensure “zero surveillance.”

In an e-mailed statement, the software solutions company said the app’s “enhanced” QR code security prevents data exposure.

It noted that some people have been “reluctant” to use the contact-tracing app.

The government’s Inter-Agency Task Force for the management of emerging infectious diseases issued a resolution on Nov. 26 last year declaring StaySafe.ph as its digital contact-tracing app of choice.

The app is mandatory for adoption and use in all government agencies. It is also promoted for use in private establishments or offices.

“These efforts have been done to build public confidence and trust in our digital contact tracing efforts. We appeal for everyone’s participation and support as we continue and reinforce our pandemic mitigation efforts this 2021,” Contact Tracing Czar and Baguio City Mayor Benjamin B. Magalong said in the statement.

MultiSys said it is shouldering all the fees to maintain the cloud services needed by the app.

StaySafe.ph now has more than eight million users, according to its developer.

“More than 700 local government units and over 100,000 companies and establishments have adopted its built-in digital logbook and QR code scanning features to protect their employees, visitors, and customers. This provides an efficient way to replace the manual logging of visitors’ health check, which requires the use of pen and paper that can potentially transmit the virus,” it added.

The government said that all data collected through contact-tracing applications should be submitted to a centralized contact-tracing data repository for integration and linkage with appropriate laboratory results. — Arjay L. Balinbin

BSP advances to gov’t to cease when economy recovers

THE CENTRAL BANK’S direct advances to the National Government are not considered as debt monetization and are temporary in nature due to the coronavirus crisis, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said.

“No it’s not [debt monetization]. We’re not monetizing. This will not be a permanent feature of the fiscal and monetary relationship,” Mr. Diokno said in a briefing on Thursday.

He said the BSP’s direct advances to the National Government are considered as bridge financing to support state spending for its coronavirus pandemic response at a time where tax collections have seen a decline.

“We expect that the economy will fully recover in the middle of 2022. We expect that this accommodation will cease at that time,” he added.

Under Republic Act (RA) No. 7653 or the New Central Bank Act, the BSP is allowed to provide up to 20% of its average annual revenue — equivalent to P540 billion — to the National Government as direct advances.

This ceiling was increased to 30% or about P820 billion through the provisions of RA 11494 or the Bayanihan to Recover as One Act to help boost government liquidity for its pandemic response.

The BSP Monetary Board in December approved another P540 billion zero-interest direct advance to the National Government. This was after the central bank bought P300 billion in government securities in March and also granted a P540-billion advance in October.

“They have not accessed that [fresh P540-billion advance] yet. I think they will access that anytime soon,” Mr. Diokno said.

The central bank chief said these direct advances from the BSP will help the government save on interest payments.

“That would be less expenditures… That’s why the central bank provided advances to the National Government,” he said.

Mr. Diokno, a former Budget secretary, stressed the need for fiscal measures for economic recovery.

“The good thing about fiscal policies is that they can really target who can benefit from fiscal spending or tax cuts, etc. So there’s still room for more targeted and more intensive fiscal policy,” he said.

Fitch Ratings earlier this week warned that an extension of the BSP’s financing to the National Government “beyond immediate needs of the health crisis could undermine investor confidence and financial stability by raising questions about the independence of monetary policy making.”

The country’s pandemic response reached $21.645 billion or about 5.9% of gross domestic product (GDP) in 2020, based on the policy database of the Asian Development Bank.

While this was the sixth largest in the region in terms of value, this is small relative to the size of the economy as pandemic packages in Singapore, Malaysia, and Thailand accounted for about 25%, 23% and 16% of their respective GDPs. — L.W.T. Noble

With move to Viva, singer Mark Carpio to provide movie theme songs

“HILING” hitmaker Mark Carpio is the most recent addition to Viva Records’ growing slate of singers and songwriters, coming shortly after announcements that KPop star Minzy and R&B singer Daryl Ong also joined the recording company.

His transfer from Warner Music Philippines to Viva Records had been a year in the making, according to Mr. Carpio, and the reason for the switch is because “he wanted to go mainstream,” he told reporters during a digital conference on Jan. 13 via Zoom.

This means that Mr. Carpio’s songs will be used by Viva Films as theme songs for its movies. To date, he has two songs ready although the production of the movies the songs will be used for were affected by the pandemic. A third song is in the works.

Mr. Carpio gained popularity on the local music scene in 2016 for the ballad “Hiling,” which earned him two nominations — Best Ballad Recording and Best Performance from a New Male Recording Artist — at the 2017 Awit Awards.

To date, Mr. Carpio has released a handful of songs including what he called his “best song,” “Kay Tagal,” a rock ballad released in the same year as “Hiling.”

Beyond being a singer and songwriter, Mr. Carpio also works as executive vice-president at Grand Monaco Estate Developers, Inc., a business his father Reynaldo Carpio put up.

The younger Mr. Carpio said that his involvement in the family business makes him approach his music career “with business sense,” and that since he is not “here for the money” he is also not here for the short term.

He explained that while he does write songs in other genres, the moment “Hiling” became a hit, he “became a balladeer” and started writing ballads.

“[I focused on] what people like instead of only what I liked… the reason why my songs sound like that is that I want it to be timeless,” he said. — Zsarlene B. Chua

DPWH, China firm sign P19.32-billion bridge contract for Davao City

THE Department of Public Works and Highways (DPWH) said on Thursday it signed a P19.32-billion contract with a Chinese firm for the design and construction of the 3.98-kilometer Samal Island-Davao City Connector Project.

China Road and Bridge Corp. bagged the design-and-build contract for the project after the procurement activities in November and December last year, the DPWH said in a statement.

DPWH Secretary Mark A. Villar said, “With the signed contract, we can now apply for the loan agreement with the People’s Republic of China through China International Development Cooperation Agency to proceed with the detailed engineering design of the Samal Island to Davao City Connector Project.”

He added that the toll-free four-lane bridge is expected to reduce the travel time of approximately 25,000 daily motorists to “only two to five minutes” between Davao City in Davao del Sur and Island Garden City of Samal in Davao del Norte from around 30 minutes via RoRo ferry.

“Its main span measures 250 meters and has a vertical navigation clearance of up to 47 meters crossing over Pakiputan strait. The bridge will also be supported by two pylons with a height of 73 meters,” the DPWH noted.

China Road and Bridge Corp. is a subsidiary of China Communications Construction Co., which was “debarred” by the World Bank for eight years beginning Jan. 12, 2009 “for fraud in Philippine roads project,” according to the international financial institution’s website.

Once the detailed engineering design is completed, the construction firm will start the 54-month civil works stage of the China-funded project, the department said. — Arjay L. Balinbin

BIMI launches feeder and income-paying mutual fund

BPI Investment Management, Inc. (BIMI) has teamed up with global asset manager BlackRock to form the country’s first feeder and income-paying mutual fund.

BIMI said ALFM Global Multi-Asset Income Fund (ALFM GMIF) is a global multi-asset fund seeking to deliver “consistent and competitive income for its investors while maintaining a risk-first approach management strategy.”

It invests at least 90% of its assets in the BlackRock Global Fund Multi-Asset Income Fund as the target fund, allowing local investors to tap global securities and other investments for at least $100, and $20 in incremental investments thereafter. 

“Unit holders can expect regular and consistent dividend income paid on a monthly basis, based on the target fund’s historical performance of 3-5% net dividend yield per annum,” it said in a press release late Wednesday.

ALFM GMIF is BIMI’s first new fund in more than 10 years.

“This is a product with many firsts for BIMI and should broaden our product offerings to suit the changing needs of investors,” BIMI President Martin Enrile was quoted as saying.

BlackRock has $7.8 trillion in assets under management to date, according to the statement, making it one of the biggest asset managers in the world.

Meanwhile, BIMI is a wholly owned subsidiary of the Ayala-led Bank of the Philippine Islands (BPI).

Shares in BPI went up by 55 centavos or 0.64% to close at P86.20 apiece on Thursday. — BML

PHL joining forum on migrant workers sponsored by UAE

PHOTO COURTESY OF DEPARTMENT OF FOREIGN AFFAIRS FACEBOOK PAGE

THE Philippines will be joining the 13th Global Forum on Migration and Development, which will tackle new technologies and upskilling of migrant workers, the Department of Foreign Affairs (DFA) said.

Foreign Affairs Undersecretary Sarah Lou Y. Arriola and Chief of Presidential Protocol and Presidential Assistant on Foreign Affairs Robert E.A. Borje will each chair roundtable discussions — on leveraging new technology to empower migrants and upskilling migrants to make them more competitive, respectively.

The virtual summit, hosted by the United Arab Emirates (UAE), will be held between Jan. 18 and 26 and will center on topics related to the future of human mobility.

“Team Philippines’ participation in the summit seeks to sustain the country’s major contributions in the international debate on migration and development,” the department said in a statement late Wednesday.

The summit will center on six roundtable themes, including labor migration governance, gaps in migrant protection, approaches to irregular migration and the potential for partnerships in realizing migration-related goals.

The Philippine government’s participation in the summit will help bring forward the Philippine agenda for the adoption of the Global Compact for Safe, Orderly and Regular Migration.

“The Philippine delegation will also highlight the entire Philippine government’s mission to provide a safe and comfortable life for all Filipinos anywhere in the world, by ensuring the welfare and protecting the rights of all overseas Filipinos wherever they may be,” the DFA added.

The Philippine Statistics Authority estimates that there were 2.2 million overseas Filipinos in 2019.

Philippine delegates include representatives from the Department of Labor and Employment, Department of Health, National Economic and Development Authority, and Bangko Sentral ng Pilipinas.

Also among the attendees are participants from the Philippine Overseas Employment Administration, Overseas Workers Welfare Administration, Commission on Filipinos Overseas, and the Philippine Permanent Mission to the United Nations in Geneva. — Charmaine A. Tadalan

Bridgerton offers clever relationship advice — why friendship is the foundation of happy romantic partnerships

(This story contains spoilers for Bridgerton.)

THE first season of Bridgerton, Netflix’s new hit show based on Julia Quinn’s novels, premiered on Dec. 25 last year.

The show is set in London, during the debutante season of 1813. It starts with Miss Daphne, the eldest daughter of the Bridgerton family, being presented to the court in preparation for the social season of marriage arrangements.

As the story develops, filled with secrets and scandals, the young lady seeks to understand what marriage and love is all about. Her mother, Lady Violet, offers this advice:

“My dear, why ever do you complicate matters so? You must simply marry the man who feels like your dearest friend.”

As a psychology researcher who studies romantic relationships, I think this touches on an idea well supported by research evidence: friendship is the foundation of happy romantic partnerships.

American psychologist Robert Sternberg originally theorized love is composed of three elements: passion, intimacy, and commitment.

But these elements do not comprehensively describe the complexity of romantic relationships. Researchers have long sought to include other elements such as partner compatibility, emotional connection, accessibility, responsiveness, engagement, acceptance, the ability to communicate and reveal thoughts and feelings (called “self-disclosure”), independence, and conflict resolution.

What’s more, although it’s well established physical attraction and earning potential will influence how people select partners, similarity and familiarity are more important for relationships long-term.

Over time, similarities such as values, political attitudes, and religiosity become more relevant and are likely to lead to greater happiness and relationship satisfaction.

All of these are qualities you’d also find in a good friend.

Indeed marriage researcher and psychologist John Gottman argues friendship is the foundation of happy romantic partnerships and the most important predictor of maintaining good relationships long-term.

In his book, The Seven Principles For Making Marriage Work, Mr. Gottman explains couples have a better chance of success if they “know each other intimately — they are well versed in each other’s likes, dislikes, personality quirks, hopes, and dreams.”

The relationship advice and support provided by Lady Violet was a significant contributor to Daphne’s decision to marry Simon, the Duke of Hastings.

The Duke explains that at first, love was out of the question, but in removing it, they found friendship, which is a far greater feat. He put it simply:

“To meet a beautiful woman is one thing, but to meet your best friend in the most beautiful of women is something entirely apart.”

On the other hand, the show demonstrates how people’s beliefs, attitudes, and behaviors can potentially sabotage their chances in love. One reason why so many couples struggle to navigate conflict in their relationships is because people are often intrinsically motivated to protect themselves rather than be vulnerable.

The Duke of Hastings is a good example. In an attempt to protect himself from the hurtful memories of his childhood and relationship with his father, the Duke closed himself off to relationships and love.

Unfortunately, this is all too common. In my recent study, published in July 2020, I surveyed 696 people and uncovered countless examples of people who describe being afraid and believing they’re not worthy of love.

Here are some of them:

“I am always afraid it is not going to work out or I am going to get hurt, but I know that me trying to maintain a distance like that is one of the reasons my relationships always fail.”

“I fear not being accepted for who I am.”

“My own beliefs that I am maybe not good enough, or worthy of such affection, make it difficult to maintain relationships.”

“I am not good enough for my partner and one day they will realize that and leave.”

These beliefs influence how people perceive quality and stress in relationships, and can mean people prevent themselves from forming and maintaining successful relationships.

Unlike “happily ever after” tales, Bridgerton follows the couple into a story of conflict when navigating the expectations of marriage.

The trust between the couple seemed to have been broken beyond repair after Daphne discovered Simon had been lying to her about his inability to have children. But a foundation of friendship remained. And it was this foundation that helped them overcome their issues.

In my research, I found participants were able to overcome issues in their relationships by focusing on trust, communication, commitment, safety, and acceptance. They noted these as important elements when managing conflict and relationship expectations.

Maintaining a healthy relationship long-term requires partners to know, trust, and be vulnerable with one another, while also engaging in open communication and collaboration towards the common goal of working on their relationship. Altogether, these elements also describe meaningful friendships. — Reuters

Raquel Peel is a Lecturer at the University of Southern Queensland.

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