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Treasury to borrow P140 billion from T-bills, bonds in February

THE BUREAU of the Treasury (BTr) plans to raise P140 billion from the local debt market next month, offering longer bond tenors to cater to investors in search of higher yields.

The BTr said in an advisory posted on its website that it will borrow P80 billion via Treasury bills (T-bills) to be offered every week and P60 billion through fortnightly Treasury bond (T-bond) auctions, steady from the January program.

“Given very low rates, (investors) may have interest on long end for yield pickup and demand from lifers and pension funds,” National Treasurer Rosalia V. de Leon said in a Viber message on Wednesday.

The Treasury will offer P20 billion in T-bills every Monday next month starting Feb. 1, broken down into P5 billion each in 91-day and 182-day debt and P10 billion in 364-day securities.

Meanwhile, the T-bonds will be offered every other Tuesday: P30 billion in 10-year notes on Feb. 2 and P30 billion in three-year bonds on Feb. 16.

The government only offered five-year and seven-year T-bonds this month.

The Treasury this month raised P211.575 billion through its auctions of government securities, exceeding the P140-billion program after upsizing its awards of T-bills and opening its tap facility after all its offerings.

Broken down, the government this month raised P121.575 billion from its T-bill auctions and P90 billion via T-bond offerings, exceeding the programmed P80 billion and P60 billion, respectively.

A trader said with the market still awash with cash, government securities will continue to attract strong interest.

“It is a good decision on BTr’s part given the robust liquidity. There is demand for the three-year paper given the search for yield. It is also ripe for the BTr to issue 10-year bonds to take advantage,” a bond trader said in a Viber message on Wednesday.

“However, GDP (gross domestic product) data will give us a clearer picture as to where we are in terms of recovery. A worse than expected figure will boost demand for next month’s issuance barring any announcement of huge supply ahead of March maturities,” the trader added.

The Philippine Statistics Authority (PSA) is set to release preliminary GDP data for the fourth quarter and full-year 2020 today.

A BusinessWorld poll of 18 economists and an institution last week yielded a median estimate of a 8.5% GDP contraction for the fourth quarter and a 9.5% slump for the full year. Economic managers said last year’s GDP may have dropped by 8.5-9.5%

The PSA on Wednesday revised its data on the third quarter GDP to a contraction of 11.4% from the previous estimate of an 11.5% slump.

The economy shrank by 10% in the first nine months of 2020 after the record 16.9% decline in the second quarter and the 0.7% contraction in the first three months.

The government plans to raise around P3 trillion this year from local and foreign lenders to help fund its budget deficit, which is expected to hit 8.9% of the country’s economic output. — Beatrice M. Laforga

AI, innovation pushing the ‘renaissance’ of the PC

IS THIS THE RENAISSANCE OF THE PC?
Around the year 2000, the term “tablet PC” was coined. Ten years later, in 2010, we saw the first headline — “The PC Officially Died Today” — and a near decade-long debate began, with most tech pundits convinced that the personal computer (PC) would be extinct by 2020.

Fast forward to today and the narrative has changed. Worldwide PC shipments increased 17.1% Y/Y in 3Q20 while smartphone shipments are projected to decline -1.3% Y/Y in the same quarter.* While the PC has always helped us connect, collaborate and communicate, 2020 has proven the value it brings to our lives more than any other time I can remember. This is a popular opinion — nearly everyone will agree — but I’d take it a step further. I believe we’re witnessing the renaissance of the PC. Not a resurgence, as that would imply a period of little activity, but a renaissance. An entirely new way to think about something.

We’ve been designing innovative PCs that can help you “work from anywhere” for years, but we’ve been given a rare opportunity to step back, rethink and use this time as a catalyst for positive, innovative change.

IT DOESN’T TOUCH THE PC
It’s mind-boggling what IT teams have accomplished this year. Digital transformation initiatives went from multi-year projects to turning on like a light switch in a matter of days.

We have always put the needs of people at our core, with support available at every stage of a company’s journey to provide a productive and connected digital workforce. With solutions like Unified Workspace, we provide ready-to-work PC experiences for employees, regardless of location. Our approach protects from security vulnerabilities, lightens and automates workloads, provides management options from DIY to managed-for-you, and provides support for the unexpected.

But how does this evolve in our renaissance phase? Think of PCs that self-heal to keep you working instead of looking for help. Think how the combination of AI, analytics, the cloud and improved connectivity will make remote management of PCs a breeze. And how the promise of predictive maintenance means problems fix themselves before they manifest.

A future where IT never physically touches a PC again? That’s a revival that could benefit us all.

WITH AI, PC NOW STANDS FOR PERSONAL COMPANION
With ever-increasing demands, we need PCs that do more than just work. PCs that are more intelligent, self-aware and user aware. We recently introduced Dell Optimizer, our AI-based software that learns and adapts to how you work and provides faster app launches, extended battery life, and easier log-on and secure lock-outs.

Future AI capabilities will benefit us in ways we haven’t imagined yet. AI will make PC usage more seamless, customized and hassle-free. It will hurdle common tech challenges, like connecting to the local network or setting up a printer. Imagine ubiquitous connectivity and a continuous experience that translates across all your preferred devices, so you can always pick up where you left off. Think about having a personal AI assistant on your PC to help manage your work and home life. Setting calendars appointments or making recommendations based on contextual data will be simple tasks completed in the background for you. A PC that becomes a trusted and reliable assistant, or personal companion, while you manage work and play from anywhere.

BEYOND FORM FACTOR: COLLABORATION AND CONNECTIVITY TAKE THE SPOTLIGHT
The industry has long focused on offering the smallest and lightest devices possible. At Dell, we’ve balanced the demand for compact form factors against the convenience of a variety of ports, long battery life and the connectivity options remote workers need. The themes of “work from anywhere” won’t change (think collaboration and connectivity), but the way they manifest will.

As your PC gets more intelligent, it understands when you want to be seen and when you don’t. If you’re participating in a video conference but get distracted — it could be a phone call, or your officemate/partner/child/dog needs you — you can trust your PC to turn off the camera until you choose to re-engage.

The space that you occupy at any given moment shouldn’t limit your productivity. Mobile PCs may offer expansive, adaptive screens so you can be more productive wherever you are. Think of workplaces that are completely wireless and turn on by detecting your presence so you stay productive as you transition from on-the-go to at-the-desk.

Remote workers need baseline internet connectivity and 5G availability is expanding. The Latitude 9510 is the first PC available on T-Mobile’s fifth generation (5G) network. However, we still need more PCs that can leverage 5G for anywhere, secure connectivity or that can default to 5G when WiFi is slow. Collaboration and connectivity that make you feel like you’re with your colleagues when you aren’t — that’s the next frontier.

PC LUXURY WITHIN REACH FOR ALL
In the past, executives and salespeople would often get the top-of-the-line devices — the sleekest laptop with high-end components. I know we’ve all had a moment where we’ve gotten a little jealous of a colleague’s new device. When I think about a renaissance of the PC, I imagine us being able to bring these “premium” experiences to more employees. Our promise is that premium is more than the look and feel of a device — the evolving workforce is redefining it.

Premium is about offering the features you care about like low blue light technology and privacy shutters for when you log many hours a day on your device. The unboxing experience also becomes important since IT may never touch the device. And once the PC is out of the box, we should all be able to jump straight into work the moment we power on.

While Dell has focused on accelerating the circular economy for years and is vocal about our moonshot goals, there’s no slowing down when we look to the future. Better PC designs engineered for disassembly and material recovery will become more important. And look for more options like PCaaS that provide flexibility in IT spending, simpler ways to refresh to the latest PCs and peace of mind with secure data removal and recycling of the device at its end of life.

SECURITY CONQUERS ALL
This new way of working comes with more opportunities for security vulnerabilities, making it critical to secure workers’ PCs. According to a recent study, more than three-quarters of organizations prioritize supply chain security during vendor selection to address counterfeit components, malware and firmware tampering. Solutions like Dell Technologies SafeSupply Chain help protect against tampering, while the PC is in transport and prevent spyware or other malware from getting injected into the device’s hard drive.

Securing below the operating system (OS) is also vital to the overall security of the device, as well as your business. We continue to find ways to bolster PC security with solutions like Dell SafeBIOS — because a compromised BIOS can potentially provide an attacker with access to information on your device.

We also need to rethink security in a creative way. Not through patches and updates, but by offering PCs that use machine learning and AI to eradicate malware before it even settles. PCs should offer best-in-class security products and practices to lower the risk of having end-users accessing internal networks from home. For me, a renaissance in this area means I never question if my PC — or the information on it — is secure.

THE TIME FOR A RENAISSANCE IS NOW
We have learned the PC is far from dead. It’s the gateway for us all to work, play, and learn. Because of this intimacy, people expect more from their PC now than ever before — and we’re listening.

We’re working on augmenting PCs with technologies like cloud, 5G, and AI to offer smart, personalized and wonderful experiences. While we’ve long been on this journey, this “renaissance” moment gives us the opportunity to pause and rethink how we bring about this future.

*Source: IDC

 

Sam Burd is the Executive Vice President, Client Product Group of  Dell Technologies

Online central business portal set to launch

THE first phase of the government’s online one-stop shop for business registration will be launched on Thursday, the Anti-Red Tape Authority (ARTA) said.

Through the platform, businesses will be able to register with the Securities and Exchange Commission (SEC) and the Bureau of Internal Revenue (BIR) online, ARTA said in a statement on Wednesday.

In the initial phase, online business registrations will be available for one person corporations, corporations with two to four incorporators, and regular corporations whose incorporators are juridical entities and/or the capital structure is not covered by the 25%-25% rule, or a pre-incorporation requirement on the percentage of subscription and paid-up capital.

Firms will also be able to pay for BIR fees and register employer numbers for SSS (Social Security System), Philhealth, and Pag-IBIG.

The portal can also process applications for secondary licenses under the Food and Drug Administration’s license to operate for pharmaceuticals.

The platform can link to the online business permits systems of several local governments, including Quezon City and Parañaque City.

“The online business permitting systems of other LGUs are also being targeted for integration in the portal in the future,” ARTA said.

The nationwide launch extends the system from its previous limited access for some law and accounting firms. — Jenina P. Ibañez

Twitter grants academics full and free access to public data, but not for suspended accounts

Twitter, Inc. on Tuesday opened free access to its new application programming interface (API) software for academic researchers, enabling them to study public conversations on its platform, but is not providing data from suspended accounts as part of the product.

Twitter said, with the new product, academic researchers will be able to tap into all the tools released to date on the new API platform, which will enable them to listen to and analyze public conversations.

The data will not, however, include tweets from accounts suspended for violations of Twitter rules, which means academics will be unable to use the API to study tweets by former US President Donald J. Trump, company executives told reporters on Monday.

Twitter this summer rolled out a rebuilt version of its API platform, which provides tiered access to public Twitter data that users have chosen to share.

The company is trying to create new sources of revenue from the API by offering a greater variety of access levels and easing the process for developers to switch between them.

Like rival Facebook, Inc., it is also responding to criticism that it has failed to tame the spread of misinformation and other abuses on its platform and has set up mechanisms for researchers to study those issues.

With the API tools, researchers will have free access to the full history of public conversation and higher levels of access to the Twitter developer platform, among others, the social media firm said in a blog post.

On Monday, Facebook said it would provide academic researchers information on how political advertisements were targeted in the lead-up to the US presidential election last year. — Reuters

Term deposit yields drop on stimulus hopes

YIELDS ON term deposits offered by the Bangko Sentral ng Pilipinas (BSP) on Wednesday tracked US bond rates as the market waits for clarity on a planned stimulus package in the world’s largest economy.

Tenders for the central bank’s term deposit facility (TDF) amounted to P704.768 billion yesterday, above the P610 billion auctioned off by the BSP but lower than the P756.711 billion in bids logged last week.

“The sustained strong demand for the TDF reflects ample liquidity in the financial system as cash holdings continue to normalize from the previous month’s holidays,” BSP Deputy Governor Francisco G. Dakila, Jr. said in a statement on Wednesday.

Broken down, bids for the seven-day papers reached P272.499 billion yesterday, surpassing the P230 billion on offer but failing to beat the P291.491 billion  in tenders seen on Jan. 20.

Lenders asked for yields from 1.5875% to 1.64%, a lower range compared with the 1.6% to 1.65% band seen a week ago. This brought the seven-day deposits’ average rate to 1.622%, lower by 1.05 basis points (bps) from the 1.6325% quoted last week.

Meanwhile, demand for the two-week term deposits amounted to P432.269 billion, higher than the P380-billion offering but below the P465.22 billion seen at last week’s auction.

Accepted rates for the tenor ranged from 1.6% to 1.6525%, a narrower band compared with the 1.6% to 1.6743% recorded last week. This caused the average rate of the 14-day deposits to drop by 1.34 bps to 1.64% from 1.6534% previously.

The central bank did not auction off 28-day deposits for the 15th straight week. This follows the start of BSP’s weekly offerings of short-term bills with the same tenor.

The TDF and BSP securities are among the tools used by the central bank to gather excess liquidity in the financial system and to better guide market interest rates.

The continued decline in the average rates of term deposits followed the movement of US Treasuries’ yields which slipped following uncertainty over the passage of a stimulus package there, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

US Treasury yields were mostly down in choppy trading on Tuesday, after earlier hitting three-week lows on the long end of the curve, as investors remained cautious about the size of a proposed US stimulus package, Reuters reported.

The US Federal Reserve also began its two-day policy gathering on Tuesday and will announce the results of its meeting on Wednesday. Analysts expect the Fed to stick to its dovish tone amid a persistent surge in virus cases.

In late afternoon trading, the benchmark 10-year yield slipped to 1.034%, from 1.04% late on Monday. It earlier slid to 1.026%, its lowest level since Jan. 6. — L.W.T. Noble with Reuters

Dining In/Out (01/28/21)

Thailand’s Royal Umbrella Rice now available in PHL

THE THAI staple Royal Umbrella rice, a favorite in supermarkets in over 100 countries around the world, is now available in the Philippines, in supermarkets nationwide (SM, Rustan’s, Robinsons, Puregold, and Shopwise) and online via LazMart. Prices start at P350. Royal Umbrella is a 40-year-old brand of premium Thai Jasmine Rice (Hom Mali). Grains are carefully selected from the best rice fields and processed under stringent procedures to ensure the highest international standards. Royal Umbrella offers three signature products: Thai Hom Mali Rice (Royal Umbrella Red) which is the best-quality Jasmine rice that is harvested only once a year;  Thai Jasmine Rice (Royal Umbrella Green), which has a light Jasmine fragrance, and a soft and sticky texture once cooked; and, Fragrant Rice (Royal Umbrella Orange), an affordable fragrant rice that is aromatic with a soft texture can be enjoyed longer when cooled down. Royal Umbrella is produced by C.P. Intertrade (CPI), a company that sustainably trades numerous products from food to raw industrial materials. CPI was established in 1979 as a subsidiary of the Charoen Pokphand Group of Companies and was promoted by the board of Investment of Thailand. CPI’s Sustainable Rice Program aims to reduce the carbon and water footprint of rice. This is done through research on greenhouse gas management in each step of the production process and streamlining supply chains to develop an eco-friendly planting system for Thai Hom Mali Rice that ensures high yields in each harvest.

Hendrick’s Gin for Valentine’s Day

Staying-in this Valentine’s Day? Hendrick’s has got you covered with a flirty pairing of candles and cocktails for an unusual candlelight dinner at home.  Simply purchase a 700ml bottle of Hendrick’s Gin from Feb. 8 onwards at participating outlets to receive a handcrafted cucumber and rose candle in an intricate Hendrick’s teacup. Then mix up some liquid love with two rose-themed Hendrick’s Gin libations — Kissed by a Rose and Rose Tinted Glasses, cook or order in some takeout and light the scented candle for a romantic night in. Those with a sense of humor can complete a poem on the Hendrick’s Gin Facebook page to win the one-of-a-kind bouquet crate complete with 50 of the finest cucumbers, blooming roses, and a bottle of gin made oddly delivered to your loved one on Feb. 14. Look out for the contest post that would be published from Feb. 6 to 10, and submit your poem via a comment on the post (contest closes on Feb. 10, 11:59 p.m.). For more information on the world’s most unusual gin and its iconic rose and cucumber pairing, visit www.hendricksgin.com.

Negrense cookbook launched

AN 82-page cookbook entitled Negrense Heritage Cooking was launched on Jan. 19 by the Department of Tourism (DoT) in partnership with the Slow Food Negros Community, the Negros Museum, and the Provincial Government of Negros Occidental. Local chefs Gabriel Francisco Melocoton, Joeri Arro, Mia Lizares Gonzaga, and Shuni Grace Palma Osano prepared and shared stories behind some of the delectable Negrense dishes featured in the cookbook, including Tangigue Kinilaw with Smoked Gata, Labuyo Oil, and Passionfruit; Linutik Nga Kalabasa with Balsamic Soy, Stir Fried Alugbati and Pechay and Kalkag; the cookbook’s recipe of Adobo Sang Tumandok; Lumpia with Ubod; Linagpang Soup; Tres Leches; and Saba na Saging. Those behind the cookbook are: editor Mia Lizares Gonzaga, recipe writers Jackie Gamboa and Charisse Lugay, Reena Gamboa who did the research, Julie May Calderon who did the cover design and book layout, Georgina Camus who did the illustrations.

Sheraton Manila Bay reopens Pacific Lounge

SHERATON Manila Bay welcomed back diners with the reopening of its top floor restaurant, the Pacific Lounge, on Jan. 22. Known for its panoramic 360-degree view of Manila Bay and city skyline, the Pacific Lounge serves a pre-dinner cocktail buffet featuring an array of select Asian staples, tapas, and local cuisine every Friday evening from 6 p.m. onwards. The pre-dinner cocktail buffet is priced at P988++ per person inclusive of house wine, local beer, chilled juices, fresh juices, iced tea, or soda. On Jan. 29, diners will be treated to Cocktail 360 creations such as Flautas con Carne y Queso, Mini Muffuletta Sandwich, Pesto Foccacia with Grilled Sausage, Grilled Aubergine Salad in Crispy Pita, Parmesan Chicken Tenders, Seafood Aglio Olio, and more. On Feb. 5, Pacific Lounge returns to its Tapas Classico roots with an assortment of delicatessen meat and cheese plus a line up of delicious bite-sized bits such Tortilla Classico, Croquetas de Jamon y Queso, Chicharrones de Cadiz, Tostas con Nueces, Queso Azul y Uvas, Pintxos Morunos, and Callos alla Madrileña among others. Members of the hotel’s Viber community will enjoy an additional 50% on mocktails and cocktails and 30% on local craft beer. To join the Sheraton Manila Bay Viber Community and get exclusive perks and promos, visit bit.ly/mnlsbviber. Reservations are required. Social distancing and health and safety precautions are implemented. The hotel strictly implements a No Face Mask and Face Shield, No Entry Policy. For table reservations, call 5318-0788, 0917-583-7294, 0917-583-7326 or e-mail sh.mnlsb.fnb@sheraton.com. Sheraton Manila Bay is located at M. Adriatico cor. Gen. Malvar Streets, Malate, Manila.

Dinagyang at Richmonde

RICHMONDE Hotel Iloilo joins the Dinagyang festivities this year with special room rates until Jan. 31, and with its Festive Buri Boxes that help support Iloilo-based businesses. Filled with an assortment of local treats like freshly baked Richmonde breads and signature ensaymadas, Superhouse drip coffee, Cabatuan tablea, Basilur tea, and Hummingbird jam, each set is perfect for snacking while watching the digital streaming of the Dinagyang performances. The buri box comes in plain or colorful versions, with the latter hand painted by local artists. The price of the Festive Buri Boxes start at P750 nett. Meanwhile, on Dinagyang weekend, The Granary prepares a special buffet spread. With fully manned buffet counters, limited seating capacity, and implementation of strict safety and sanitation protocols in accordance with the guidelines set by the IATF, Iloilo City Government, and the tourism department, the Richmonde ensures that the wellbeing of all diners is protected. The Weekend Dinner Buffet is priced at P950 nett per person with 50% discount for children six to 12 years old. Prior reservations are required. For inquiries, room and restaurant reservations, and orders for buri boxes, call Richmonde Hotel Iloilo at +63 33 328-7888 or 0917-580-9642, or send an e-mail to stay@richmondeiloilo.com. Bookings and orders may also be made online at Richmonde’s official website, www.richmondehoteliloilo.com.ph.

Firehouse Pizza goes vegan

WHAT started as a seasonal offer during World Vegan Month last November, Firehouse Pizza’s plant-based pizza and pasta selections are now available all-year-round. Now officially part of its regular menu, the vegan offerings include the Vegan Firehouse Pizza which is loaded with seitan, vegan parmesan, vegan brie, vegan mozzarella, jalapeno, and arugula; the Vegan Four-Cheese Pizza which has vegan old smokey, vegan herbed feta, vegan parmesan, and vegan mozzarella; and the Vegan Truffle Pizza which features portobello mushrooms, garlic, vegan brie, vegan parmesan, vegan mozzarella, finished off with a dash of truffle oil. In addition to vegan pizzas, Firehouse Pizza has also added a plant-based pasta menu with dishes such as Vegan Lasagna, Baked Fillet Caprese, and Meatless Albondigas. All these vegan dishes are available at Firehouse Pizza from 4 to 9 p.m. For takeaway via https://bit.ly/FirehouseOrderOnline or delivery via FoodPanda, Grab, and Pickaroo, the restaurant can accept orders from 11 a.m. to 9 p.m. daily. Firehouse Pizza is located at Entrata Urban Complex, Filinvest City, Muntinlupa. For more details, visit www.facebook.com/firehousepizzaph or call 0998-595-3832.

Max’s All-You-Can promo returns

MAX’S Restaurant brings back the Max’s All-You-Can promo, last held in 2019, which offers an assortment of the restaurant’s favorite dishes, all in one plate, for P499 per head. The orders include Sarap-To-The-Bones Fried Chicken, Max’s Spicy Tofu, Chicken Sisig, and Chicken Lumpiang Shanghai. Each plate also comes with all the steamed white rice a customer could want. The last of Max’s All-You-Can Weekends will be on Jan. 29-31 in all Max’s stores nationwide. Book ahead at bit.ly/ReserveMaxsAllYouCan. Full mechanics are available at bit.ly/MaxsAllYouCan.

Tasteful Selections offers items for charcuterie boards

A MAIN point of pride for Tasteful Selections is putting a premium on quality products, which is why they only source from the food item’s country of origin. This meticulous sourcing process resulted in partnerships with award-winning brands. Charcuterie boards are essentially DIY and can include jamón serrano (Tasteful Selections’ supplier for the cold-cut variant is a Spanish company that pioneered the breeding of Duroc pork, from which jamón serrano is made); Goya manzanilla olives stuffed with smoked salmon; and Manchego cheese. Learn more about the products by following Tasteful Selections on Instagram (@Thetastefulselections) and by logging on to thetastefulselections.com.

Johnnie Walker celebrates 200th anniversary

LAST December, Johnnie Walker invited everyone 18 years old and above to 2XX & Beyond — a virtual festival to celebrate Johnnie Walker’s 200th anniversary. The festival was aired on Facebook.com/JohnnieWalkerPhilippines from 5 to 11 p.m. It included a screening of the film The Man Who Walked Around The World, an independent feature documentary that explores how Johnnie Walker, for over two centuries, has navigated adversity with optimism to cement its place in culture as a global icon.  Johnnie Walker also hosted a series of talks: starting with Creative Conversations over Scotch with artists Jappy Agoncillo and Bea Policarpio; Scotch 101 for the New Generation with Ervin Trykowski, Rian Asiddao, and Lester Ligon; and a “tell-all interview” with Johnnie Walker brand ambassador Nico Bolzico. Johnnie Walker also partnered with Karpos Multimedia to culminate the festivities with some of 2020’s freshest musical acts: Breakbot + Irfane, FERN., August Wahh, and Jason Dhakal. Consumers can still view The Man Who Walked Around The World at themanwho.film. Meanwhile the different creative talks as well as the concert are available at the Johnnie Walker Facebook Page.

Two Filipino firms join Bloomberg’s Gender Equality Index

FILIPINO firms DMCI Holdings, Inc and Semirara Mining and Power Corp. were recognized as two of seven companies in the region that promoted gender equality in their workplaces, according to Bloomberg’s latest Gender Equality Index (GEI).

Bloomberg’s annual GEI recognizes publicly listed firms that bring transparency to gender-related practices and policies, while increasing the scope of environmental, social, and governance (ESG) data available to investors.

In a press release on Wednesday, Bloomberg said that its latest GEI comprised 380 companies, up by around 17% from last year’s number. It said those on the 2021 index have a combined market capitalization of $14 trillion, up from $12 trillion last year.

The other ASEAN firms identified in this year’s GEI are: Genting Singapore Plc; Energy Absolute PCL; Home Product Center Public Co. Ltd.; DiGi.Com Bhd, and PT Keluarga Karyasehat Tbk.

Filipino firm SM Investments Corp., which joined the index in 2020, is part of the GEI companies this year.

“As we continue to grapple with the pandemic, we’ve seen companies put increased emphasis on the ‘S’ in ESG,” Peter T. Grauer, the chairman of Bloomberg, was quoted as saying.

He added: “The companies included in this year’s Gender Equality Index are committed to providing an inclusive work environment, supporting work-life balance and flexible work arrangements to retain a talented workforce and create a competitive advantage in this changing business environment.”

Despite the higher standards for inclusion in this year’s index, Bloomberg received a record number of disclosures from GEI companies as the average disclosure score hit 94%.

“The average disclosure score of the 15 companies in ASEAN is high, outperforming the average disclosure score of the index as a whole. Disclosure is an important component in the GEI as it is the first step towards accountability. The decisions companies make today can drive progress on equality for years to come,” said Patricia Torres, global head of Bloomberg Sustainable Finance Solutions.

Bloomberg, however noted that average data excellence score was 55%, which meant that more work still needed to be done.

Broken down, the data excellence score includes: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies, and pro-women brand.

Around 87% of the firms included in Bloomberg’s GEI offered flexible working hours, while 85% offered flexible working locations. On average, GEI member boards comprised 29% women.

GEI companies reported that they were hiring more women, with 69% having a strategy for recruiting women and 59% conducting a gender-based compensation review.

Meanwhile, more than half of the member companies or 60% sponsored financial education programs from women. Sixty percent of firms were said to have sponsored programs focused on educating women in Science, Technology, Engineering and Math.

At present, there are 16 GEI-listed companies in Indonesia, Philippines, Malaysia, Singapore, and Thailand. — Angelica Y. Yang

How PSEi member stocks performed — January 27, 2021

Here’s a quick glance at how PSEi stocks fared on Wednesday, January 27, 2021.

Peso rebounds on wider trade deficit in Dec.

THE PESO appreciated against the greenback on Wednesday on the back of data showing a wider December trade deficit.

The local unit finished trading at P48.075 per dollar yesterday, gaining 0.5 centavo from its P48.08 close on Tuesday, data from the Bankers Association of the Philippines showed.

The peso opened the session at P48.06 versus the dollar. Its weakest level was at P48.095 while its intraday best was at P48.055 against the greenback.

Dollars traded increased to $1.123 billion on Wednesday from the $1.014 billion seen on Tuesday.

The peso was supported by the wider trade deficit in December, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

The country’s trade deficit stood at $2.18 billion in December, wider than the $1.73 billion logged in November but narrower than the $2.96-billion gap a year ago.

Meanwhile, a trader said hopes of continued dovish guidance from the US Federal Reserve also provided support to the peso.

Investors are waiting for comments from Fed Chairman Jerome J. Powell as they conclude a two-day policy meeting on Wednesday, with expectations leaning towards continued accommodative monetary policy.

“The local currency might weaken from the release of likely weaker fourth-quarter GDP (gross domestic product) reports,” the trader said.

For Thursday, Mr. Ricafort gave a forecast range of P48.05 to P48.10 per dollar while the trader expects the peso to move within the P48 to P48.10 level. — LWTN

Stocks drop further ahead of GDP data release

By Revin Mikhael D. Ochave, Reporter

SHARES closed lower on Wednesday as investors await the release of the country’s gross domestic product (GDP) data and on rising coronavirus disease 2019 (COVID-19) cases nationwide.

The 30-member Philippine Stock Exchange index (PSEi) declined further, dropping 113.55 points or 1.62% to close at 6,863.61 yesterday, while the broader all shares index fell 37.64 points or 0.9% to end at 4,131.32.

Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a mobile phone message that the market ended lower as investors remained on the sidelines ahead of the release of data on the country’s economic performance last year.

“We expect slower decline in the fourth quarter on the back of improving manufacturing purchasing managers’ index, unemployment rate, and an uptick in vehicle sales,” Mr. Limlingan said.

“On the external front, goods exported recovered in November, while imports fell relatively to the third quarter likely leading to a higher net export contribution than the previous quarter,” he added.

The Philippine Statistics Authority (PSA) is set to release preliminary GDP data for the fourth quarter and full-year 2020 today.

A BusinessWorld poll of 18 economists and an institution last week yielded a median estimate of a 8.5% GDP contraction for the fourth quarter and a 9.5% slump for the full year.

AAA Southeast Equities, Inc. Research Head Christopher John Mangun said the market ended lower as market sentiment continued to deteriorate amid rising COVID-19 cases in the country.

“The daily case rate has begun picking up since last week, and is approaching 2,000 new cases per day, last seen back in October. Although the rate of new serious cases continues to decline, more and more investors are unloading positions, in preparation of the worst case scenario,” Mr. Mangun said in an e-mail.

The Department of Health on Wednesday reported 2,245 new COVID-19 cases, which brought the tally to 518,407.

Most sectoral indices declined on Wednesday, with mining and oil being the only gainer, rising 49.46 points or 0.56% to finish at 8,767.83.

Property declined 87.28 points or 2.45% to 3,475.1; financials retreated 28.15 points or 1.94% to 1,416.36; industrials shrank 160.24 points or 1.76% to 8,919.3; holding firms went down 67.66 points or 0.95% to 7,017.97; and services lost 5.76 points or 0.38% to 1,510.54.

Value turnover on Wednesday reached P10.68 billion with 98.96 billion issues switching hands, lower than the P11.56 billion with 74.53 billion issues recorded during the previous trading day.

Advancers bested decliners, 112 against 101, while 50 names ended unchanged.

Net foreign selling climbed to P1.37 billion on Wednesday from the P504.07 million seen on Tuesday.

“We may see the PSEi continue lower towards its next major support level at 6,740,” AAA Southeast Equities’ Mr. Mangun said.

Manila fires diplomatic protest after China law on firing at sea

THE PHILIPPINES has filed a diplomatic protest against China after it passed a law allowing its coast guard to fire at foreign vessels in the South China Sea.

“After reflection, I fired a diplomatic protest,” Foreign Affairs Secretary Teodoro L. Locsin, Jr. tweeted on Wednesday.

“While enacting law is a sovereign prerogative, this one — given the area involved or for that matter the open South China Sea — is a verbal threat of war to any country that defies the law which, if unchallenged, is a submission to it,” he added.

The presidential palace on Monday said the use of force is prohibited under international law. States may use force in self-defense or when authorized by the United Nations (UN) Security Council, presidential spokesman Harry L. Roque told an online news briefing.

Any laws passed by nations must be according to the UN Convention on the Law of the Sea, which China had agreed to, he added.

Mr. Roque said President Rodrigo R. Duterte wants claimants to disputed areas in the South China Sea to finish a proposed code of conduct and adhere to it to ease tensions.

Mr. Locsin on Monday urged “self-restraint” after opposition Senator Risa N. Hontiveros-Baraquel said the Chinese law was a negative development.

“It’s none of our business,” he tweeted then. “It is China’s business what laws it passes, so please, a little self-restraint.”

“I devised a visa rubber stamp that stamps most of the South China Sea and parts of North Borneo as our national territory and no one has complained,” Mr. Locsin had said.

Ms. Baraquel noted that while China peddles coronavirus vaccines as a global public good, it trashes the remaining peace in the disputed waterway.

The National People’s Congress standing committee of China passed the Coast Guard Law that will allow its coast guard to use “all necessary means” against foreign vessels that threaten them, according to the South China Morning Post.

Ms. Baraquel said the measure would escalate tensions at sea. She urged the Philippine military to plan a strategy should there be threats to the Philippines.

The Permanent Court of Arbitration in 2016 favored the Philippines in a lawsuit that rejected China’s claim to more than 80% of the South China Sea based on its nine-dash line drawn on a 1940s map.

China has rejected the ruling but continues to negotiate with the Philippines and other Southeast Asian nations to come up with a code of conduct.

China has been building artificial islands in the disputed Spratly Islands and setting up installations including several runways.

The Philippine Foreign Affairs department last year filed several diplomatic protests against China over a naval weapon-pointing incident and an attempt to set up two new districts within Philippine territory in the South China Sea.

Ms. Baraquel last week said China’s vaccine diplomacy might be in exchange for the Philippines’ interest in the South China Sea.

The Foreign Affairs department and vaccine Czar Carlito G. Galvez, Jr. have both assured the senator that the vaccine donations were not tied to territorial considerations.

‘AGGRESSION’
The United States in November reaffirmed its stance to maintain order in the Indo-Pacific region.

Former White House National Security Adviser Robert C. O’Brien said there was a consensus among US republicans and democrats on the US stand against China’s aggression in the region.

Mr. O’Brien said there was a bipartisan consensus on China’s unfair trade practices and its attempt to coerce its neighbors and other areas including Taiwan.

The US had donated precision-guided missiles and munitions, including 100 TOW-2A missiles, 12 ITAS, and 24 MK-82s worth $18 million to the Philippine military.

Mr. O’Brien reaffirmed the US commitment to activate the Mutual Defense Treaty in case the Philippines is attacked by an enemy.

He said the US in July aligned its official position on the 2016 United Nations (UN) arbitral ruling on the South China Sea.

The resources in the disputed waters “belong to the Philippine people,” Mr. O’Brien said.

Former US Secretary of State Mike Pompeo in February 2019 said any attacks on Philippine aircraft or ships in the South China Sea would trigger a response from the US under the Mutual Defense Treaty.

His comments sought to reassure the Philippines amid China’s island-building activities in the South China Sea.

Three American aircraft carriers patroled the Indo-Pacific waters for the first time in nearly three years in June, a massive show of naval force in a region roiled by spiking tensions between the US and China.

The patrol of the three warships, accompanied by Navy cruisers, destroyers, fighter jets and other aircraft came as the US escalated criticism of China’s response to the coronavirus pandemic, its moves to impose greater control over Hong Kong and its island-building activities in the waterway. — Charmaine A. Tadalan

Duterte names Army head as new Armed Forces chief of staff

PRESIDENT Rodrigo R. Duterte has appointed Lt. Gen. Cirilito E. Sobejana, the commanding general of the Philippine Army, as the new chief of staff of the Armed Forces, the presidential palace said on Wednesday.

“We are confident that General Sobejana will continue to modernize our military and undertake reform initiatives to make the Armed Forces truly professional in its mandate as the protector of the people and the state,” presidential spokesman Harry L. Roque Jr. told reporters in a Viber message.

Mr. Sobejena will succeed outgoing Chief of Staff Gen. Gilbert I. Gapay, who will retire on Feb. 4.

He is the eighth military chief under the Duterte administration and will reach the mandatory retirement age of 56 on July 31.

Mr. Sobejana is among those who got the country’s highest military award for  courage, the Medal of Valor, an award equivalent to the congressional Medal of Honor of the US, according to the Philippine Army website.

This was after he led a 16-man team of Scout Rangers in a close-quarter encounter with more than 100 Abu Sayyaf fighters in Basilan province in the country’s south in 1995.

The President in 2019 gave him the Philippine Legion of Honor for serving the country for more than 30 years.

He will take over the helm of one of the weakest military forces in Asia, which is being criticized for its supposed inaction on the aggression of Chinese troops in the West Philippine Sea. — Kyle Aristophere T. Atienza

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