Facebook Instagram Linkedin X Youtube
Home Blog Page 7436

Keira Knightley braves a doomsday Christmas in Silent Night

KEIRA Knightley stars in not-so-feelgood Christmas movie Silent Night, about a group of friends getting together for the holiday and blissfully ignoring a looming doomsday.

Set in the English countryside, the friends eat, drink, sing and dance to enjoy their last Christmas, knowing everyone is going to die the next day.

The movie, which premiered at the Toronto International Film Festival on Thursday night, was written and shot before the coronavirus disease 2019 (COVID-19) pandemic with the idea of promoting it as a Christmas movie with a twist, Ms. Knightley said.   

But events soon changed that.

“It was very, very strange because when we first started talking about this, this was utter fiction and it was very funny because it was utter fiction,” Ms. Knightley told Reuters in an interview.

“And then all of a sudden the last two years have been the last two years and I do think it should come with a warning because I think we’re all seeing it in a completely different way.”

In the film, which is writer-director Camille Griffin’s feature debut, a poisonous cloud is approaching Britain, with online horror stories of it slowly killing people.

“When we finished the film, we showed the studios last year and they were crazy about the film, but they were terrified by the film and they didn’t want to show anyone the film,” Ms. Griffin said.

“I think they wanted to wait until… people had recovered because they understood that we didn’t know the pandemic was going to happen when I wrote (it) and everyone was cast and we went into production, so I think we wanted society to have some sense of hope and recovery.”

The movie also stars Downton Abbey actor Matthew Goode, Peaky Blinders actress Annabelle Wallis, Jojo Rabbit star Roman Griffin Davis and Lily-Rose Depp, known for The King and Voyagers.

Ms. Depp’s character is the outsider of the group, and often at odds with them.

“I think that’s representative of a larger sense of seeing things unfold around you and a group mentality that they’re trying to say (this) is the right thing and everything and you’re like, well, I don’t feel this way,” Ms. Depp said. — Reuters

PayMaya gets country’s sixth digital banking license

VOYAGER INNOVATIONS, Inc., through its fintech arm PayMaya Philippines, has secured central bank approval to operate a digital bank, which it said will focus on the unbanked and underserved, as well as small businesses.

The Bangko Sentral ng Pilipinas (BSP) granted the country’s sixth digital bank license to PayMaya, Voyager and PayMaya said in a statement on Monday. The new lender will be called Maya Bank.

“With the digital banking license, Maya Bank’s primary focus will be the largely unbanked and underserved population of consumers and micro-, small-, and medium-sized enterprises (MSMEs). It also intends to promote digital financial services among the youth, women, senior citizens, and other underbanked segments,” the firms said.

“It also intends to promote digital financial services among the youth, women, senior citizens, and other underbanked segments,” they added.

Voyager in June raised $167 million from a funding round, which it said will be used for the expansion of PayMaya and the establishment of a digital bank.

“Maya Bank will provide mobile-first digital banking services on the back of PayMaya’s widely trusted e-wallet and proven technology platforms. It will maximize PayMaya’s extensive Smart Padala agent network and leading merchant payments processing business to serve more customers and grow the digital financial ecosystem,” the companies said.

“Our digital bank license underpins the unique value of our end-to-end financial services ecosystem as it unlocks opportunities beyond payments. We are truly honored by the trust placed on us by the BSP for our digital banking endeavor,” Voyager and PayMaya Chief Executive Officer and Founder Orlando B. Vea was quoted as saying.

Maya Bank’s key advantage lies in the already established payment ecosystem of its parent company PLDT, Inc., as well as having large private equity firms such as Tencent Holdings and KKR & Co. as its funding backers, said Tamma Febrian, Associate Director, Banks – APAC, Fitch Ratings.

“We expect Maya Bank to be able to grow its deposit base and/or lending businesses probably quicker than the few other smaller digital upstarts over the next few years,” Mr. Febrian said in an e-mail.

He said Maya Bank’s addition to the country’s digital banking space will improve competition and spur lenders to innovate and digitize.

“We believe that the primary customers of many of the new digital banks will be those that are currently underserved by the banks, suggesting that direct competition will likely be more moderate — at least in the initial few years,” he said.

Maya Bank will join five others that earlier secured digital banking licenses from the BSP, namely the state-owned Overseas Filipino Bank, Tonik Digital Bank, Inc. (Philippines), UNObank, Aboitiz-led Union Digital Bank, and GOtyme, which is owned by the Gokongwei Group and Singapore fintech firm Tyme.

The central bank in August decided to raise its cap on digital bank licenses to seven from five previously. The window for applications closed on Aug. 31, with BSP Governor Benjamin E. Diokno saying they are unlikely to issue licenses in the next three years to monitor current players and ensure healthy competition.

Digital banks are not required to have physical branches and their services are offered via online platforms. These lenders are expected to help the BSP reach its goal to bring 70% of Filipinos into the formal banking system and have 50% of transactions done online by 2023.

Voyager is the digital arm of PLDT. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Luz Wendy T. Noble

Robinsons Starmills hosts Giant Lantern Festival

ROBINSONS STARMILLS will host the Giant Lantern Festival in San Fernando, Pampanga this December.

Ahead of the festival, the mall’s lobby has already been decorated with a giant Christmas Tree and lantern display.

The Giant Lantern Festival will have a nightly display at 6 p.m. on Dec. 16-23, Dec. 25-30, and Jan. 1-2, 2022, at the mall’s rear parking area.

The following barangays are participating in this year’s festival: Sto. Niño, San Juan, San Nicolas, Sta. Lucia, Bulaon, Telabastagan, and Calulut.

“On-site registration starts Dec. 16 to Jan. 2. QR codes will be assigned to each vehicle for contactless drive-in and parking slots so everyone could enjoy the moment without a single pinch of worry,” Robinsons Malls said in a statement.

PAL increasing flights to keep ‘market leadership’ amid restructuring

REUTERS

EMBATTLED flag carrier Philippine Airlines, Inc. (PAL) announced on Monday that it is planning to start increasing its international flights “by late October.”

The airline, which has filed for Chapter 11 creditor protection in the United States, anticipates an increase in leisure and business travel as vaccine coverage improves.

“By late October 2021, PAL plans to increase flights to San Francisco, Hong Kong, Los Angeles, Guam, Singapore, Dubai, Doha, Nagoya and Fukuoka while continuing special flights to Auckland, Vietnam and points in Australia,” PAL said in an e-mailed statement.

It plans to add more flights to Honolulu and Taipei by the end of November.

“On domestic routes, the flag carrier is set to add flight frequencies to Iloilo, Legazpi, Butuan, Puerto Princesa, Bacolod, Dumaguete and Roxas City,” it said.

PAL is looking to add more flights between Cebu and Zamboanga, as well as Cagayan de Oro, Bacolod, Butuan and Davao.

“For the domestic sector, the additional frequencies are being planned for Q4 (fourth quarter) of 2021 in anticipation of gradual market recovery even as we remain cautiously optimistic,” PAL said in a statement sent to BusinessWorld in response to a request for further details.

The airline is gradually increasing flights on high-density routes and operating special commercial and repatriation flights to build passenger traffic.

“While demand may not come back to pre-pandemic levels until 2024, we will implement a fleet and network plan that will maintain Philippine Airlines as a market leader in the international and domestic sectors,” PAL Senior Vice-President Chief Strategy and Planning Officer Dexter C. Lee said.

Around 27% of PAL’s pre-pandemic flights currently cover 70% of its route network.

“PAL received US court approval last Sept. 9 for the first phase of its ongoing Chapter 11 restructuring plan, which will allow fresh capital to flow in even as the airline sustains its full range of flights and services,” the airline noted, referring to the first $20 million of its debtor-in-possession financing totaling $505 million.

PAL’s new business plan calls for exiting unprofitable markets and selectively increasing regional capacity in targeted growth markets.

The airline intends to consolidate domestic capacity from Clark International Airport to Manila International Airport “due to market demands.”

At the same time, PAL anticipates growing capacity in short haul regional routes, especially growth markets such as China, consolidating capacity in the West Coast gateways and canceling certain ultra-long-haul flights, while maintaining profitable opportunistic flying from Cebu. — Arjay L. Balinbin

Entertainment News (09/21/21)

Tingin film fest explores Southeast Asian ‘remedies’ vs pandemic

THE 2021 TINGIN ASEAN FILM FESTIVAL features Southeast Asian short films that explore solutions for rebuilding the world unsettled by the coronavirus disease 2019 (COVID-19) pandemic. A project of the National Commission for Culture and the Arts (NCCA), Tingin will have a limited online run from Sept. 24 to 26. The festival is free to the public and is hosted on the Vimeo channel of the NCCA National Committee on Cinema (www.bit.ly/Tingin). The festival uses “dis-ease” to conjure pathology as well as restlessness, or pagkabalisa in Tagalog, brought on by the pandemic. Tingin is the country’s longest-running and only film festival dedicated to Southeast Asian cinemas. Among the films are Carlo Francisco Manatad’s The Imminent Immanent, the prologue to Manatad’s first full-length feature, Kun Maupay man it Panahon (Whether the Weather is Fine), which draws a picture of a seaside town before it is eventually engulfed by a super typhoon; New Land, Broken Road by Kavich Neang (Cambodia) contemplates the experience and role of Khmer youth in Cambodia’s rapid development; Loeloe Hendra’s Lost Wonders, set against the 1997 Asian Financial Crisis, is about a young boy who leaves the house every night to look for his father who disappeared while performing pesugiha; Malaysia’s Peon, based on a true story, unfolds through a series of texts, voice messages, and video calls, giving the audience an immersive experience of the daily grind of frontline workers; Vietnam’s Binh has an alien arriving on Earth on a quest to find assistance to rebuild his home; Shoki Lin’s Adam follows an unmoored young boy forced to find an alternative living arrangement. Tingin will also host the international premiere of Nyi Zaw Htwe’s Passing Moments, a documentary about Myanmar amidst the pandemic; Thailand’s Ethereal Creature, about two friends getting lost in a forest, by Tinishine Mont; Brunei’s Hilang, which is about the fading performance art mukun; and Melody of Change from Lao PDR, about a mysterious woman caught up in tensions between two cultures. Aside from the screenings on Vimeo, a series of conversations with select filmmakers will be live-streamed at 6 p.m., every day, from Sept. 24 to 26 on the Facebook page of Tingin. For more information, including details on how to watch the films, write to tinginfilmfest@gmail.com or follow the festival on its Facebook and Instagram pages: Tingin ASEAN Film Fest.   

New set of Magic: The Gathering cards out

WIZARDS OF THE COAST will be releasing Innistrad: Midnight Hunt, the newest set for the world’s oldest trading card game, Magic: The Gathering (MTG). Reveling in Gothic horror and the introduction of powerful new werewolves, Midnight Hunt releases on tabletop on Sept. 24. The card theme returns to the world of Innistrad, MTG’s fan-favorite Gothic horror setting, which first made its debut in 2011. The immersive artwork on the cards illustrates the conflict between humans and supernatural threats, in a world where werewolves, vampires, ghosts, and zombies rule the night, while humans do their best to survive. Midnight Hunt introduces new card mechanics to combat the evil roaming beyond the village walls. The Midnight Hunt set will be available in Draft Boosters, Set Boosters and Collector Boosters, including the Midnight Hunt Bundle and two Commander decks. For more information on Innistrad: Midnight Hunt, visit https://magic.wizards.com/en/products/midnight-hunt or watch Wizards’ YouTube series.

Zack Tabudlo celebrates unconditional love in new song

FILIPINO singer-songwriter/producer Zack Tabudlo sings of the joy of long, lasting real love on his new single “Habang Buhay,” now out on all streaming platforms via Island Records Philippines and MCA Music, Inc. Written, produced, mixed, and mastered by Mr. Tabudlo himself, the shiny, retro-pop tune is inspired by old school OPM classics such as VST & Company, and other ’80s songbook stalwarts such as The Police and Fra Lippo Lippi. A music video will be released soon to complement the song. “Habang Buhay” is out now on all streaming platforms worldwide via Island Records Philippines and MCA Music, Inc.

Ben&Ben, Mayonnaise, more in Band Battle   

CALL OF DUTY: MOBILE PHILIPPINES presents Band Battle where artists come together and go head to head in a fun shooting tournament. The Band Battle will be a multiplayer tourney and to spice things up, each band member or artist will be assigned to different teams. Participating in the tournament and have accepted this new challenge are Ben&Ben, Mayonnaise, Bawal Clan, Raisa Racelis of Sud, Icoy Rapadas of Lions & Acrobats, EJ Pichay of Gracenote, Chino David of Hale, Ace Del Mundo from Orange & Lemons and other fan favorites. Catch the #CoDMBandBattle to be livestreamed in the Garena Call of Duty Mobile Facebook page on Sept. 24, 7 p.m.

Catchiest guitar intros discussed in podcast

CHINO AND CARL’s Guitar Picks is a Spotify exclusive podcast where Chino Singson of The Itchyworms, and Carl Javier, his guitar student and PumaPodcast CEO, pick their favorite tracks to learn from, be inspired by, and rock out to. In the latest episode, they list the songs that they think have iconic intros. Among the songs discussed are The Itchyworms’ “Beer,” The Beatles’ “Day Tripper,” “Plug in Baby,” and Sandwich’s “Butterfly Carnival.” Chino and Carl’s Guitar Picks is produced by PumaPodcast.  

Live performances for free on Smart’s GigaPlay App

ENJOY ALL THINGS Korean culture and pop music at Kcon:tact Hi 5. Known by fans as KCon, and now on its fifth run, it returns with a mix of returning performers from past KCon events, debuts from K-pop acts, and special live meet and greet sessions with the artists. Joining Kcon:tact Hi 5’s roster are AB6IX, ATEEZ, BTOB, Ciipher, Dreamcatcher, GHOST9, HIGHLIGHT, ITZY, JO1, Kim Jae Hwan, MAMAMOO, ONF, Park Jihoon, Purple Kiss, RAIN, Stray Kids, T1419, THE BOYZ, TO1, Weeekly, WEi, and WOODZ. KCon is organized by South Korean entertainment and media company CJ ENM. The nine-day music event runs from Sept. 18 to 26 exclusively on the Smart GigaPlay App for free. Check out the Facebook event page: https://www.facebook.com/events/1708733479318638. 

BSP posts higher net income in Q2

BW FILE PHOTO

THE BANGKO SENTRAL ng Pilipinas (BSP) saw higher net earnings in the second quarter amid improving revenues and a lower base due to the strict lockdown in the country in the same period of 2020.

Data from the BSP’s Second Quarter 2021 Report on Economic and Financial Developments showed its net income stood at P20.038 billion in the April to June period, surging by 427% from the P3.8 billion logged a year earlier.

On the other hand, its profit dropped 21.11% from the P25.401 billion seen in the first quarter.

“The lower net income, as compared to the previous quarter, was attributed mainly to the significant increase in interest on national government deposits combined with large decline in miscellaneous income,” the BSP said in a statement.

The BSP’s net earnings in the first half of the year reached P45.439 billion, climbing 231% from the P13.709 billion seen in January to June 2020.

The central bank’s revenues more than doubled (130%) to P47.97 billion in the second quarter from P20.786 billion a year ago, but was nearly unchanged compared with the P47.96 billion in the first three months of the year.

“Total revenues were mostly comprised of interest income from international reserves and domestic securities, and miscellaneous income,” it said.

In the second quarter, the BSP’s net loss from foreign exchange rate fluctuations stood at P876 million, higher by 98% than the P441 million seen a year earlier. It, however, decreased by 5.5% from the net loss worth P927 million in the previous quarter.

Meanwhile, total expenditures increased 64.8% to P27.035 billion from P16.405 billion in the second quarter last year, and by 15% from the P23.486 billion in the January to March period.

“The quarter-on-quarter rise in expenditures was due to higher interest expense on NG (National Government) deposits and other expenses,” the central bank said.

The BSP’s assets hit P7.685 trillion as of end-June, rising by 22% from the P6.295 trillion a year earlier. It also inched up by 1.68% from the P7.558 trillion logged as of end-March.

This increase was backed by the country’s gross international reserves, particularly inflows of proceeds from the National Government’s global and Samurai bond issuances that were kept with the BSP, as well as central bank’s income from investments abroad.

Meanwhile, total liabilities grew 22.8% to P7.529 trillion as of June from P6.13 trillion in the previous year and by 1.3% from the P7.432 trillion as of March.

“The BSP’s liabilities during the review period were comprised mostly of deposits and currency issues,” the central bank said.

With this, the BSP’s net worth declined by 5% to P156.2 billion at end-June from P164.5 billion a year ago. However, it was higher by 23% compared with the P126.3 billion as of end-March. — L.W.T. Noble

Ortigas Land upgrades Kapitolyo intersection

ORTIGAS LAND worked with the Pasig City local government to introduce a pedestrian-friendly intersection located along Shaw Boulevard, between Capitol Commons and Barangay Kapitolyo.

“The new infrastructure introduces features that promote a safe environment for pedestrians and cyclists including improved walkways, a pedestrian safety island, and improved bike features,” it said in a statement.

The walkways that connect Unimart Capitol Commons, Gastro at Capitol Commons, and Brgy. Kapitolyo are spacious and PWD-friendly. Pedestrian signages, lights, and safety islands have also been installed.

The Pasig City local government unit (LGU) and Ortigas Land also introduced bike boxes, which are described as designated priority areas for cyclists at intersections.

“The completion of all upgrades will make this intersection the country’s first LGU-led protected bike lane,” it added.

AboitizPower approves P12-billion retail bonds

THE board of directors of Aboitiz Power Corp. has cleared the issuance of up to P12 billion worth of fixed-rate retail bonds, which the company plans to offer in the fourth quarter and listed on the bond exchange.

“Subject to market conditions, the second tranche bonds [are] expected to be offered to the general public in the fourth quarter of 2021,” the firm said in a regulatory filing on Monday, adding that these will be listed with the Philippine Dealing & Exchange Corp.

AboitizPower said that the securities form the second tranche of its P30-billion bond issuance under its shelf-registration program.

Earnings from the bonds will refinance activities, support general corporate purposes or fund future renewable energy projects.

AboitizPower said its board of directors assigned the management to finalize the issue amount, interest rate, offer price, tenors, parties involved, and other terms of the bonds.

Last week, the company announced that it had fully redeemed and paid P3.4 billion of its 12-year 2014 “Series B” Bonds earlier than their maturity, which is in 2026.

AboitizPower earlier said that it was investing P190 billion to develop 3,700 megawatts of new renewable projects by 2030 to scale up its “Cleanergy” brand, which it aims to have a bigger share or 50% of its power generation portfolio in a decade’s time.

Cleanergy is the firm’s clean and renewable energy portfolio.

AboitizPower’s second-quarter attributable net income to its parent grew by more than two-fold to P3.96 billion versus its year-on-year figure of P1.68 billion.

The company is the listed holding firm for the Aboitiz group’s investments in power generation, distribution, retail electricity and other related services. It also holds ownership interests in nine distribution utilities, which provide power to franchise areas covering 18 cities and municipalities and five economic zones across the country.

AboitizPower shares jumped 2.45% or 80 centavos to finish at P33.45 apiece on Monday. — Angelica Y. Yang

How PSEi member stocks performed — September 20, 2021

Here’s a quick glance at how PSEi stocks fared on Monday, September 20, 2021.

Minimum wages lower by at least 20% when accounting for inflation

Minimum wages lower by at least 20% when accounting for inflation

Peso sinks to P50:$1 level ahead of Fed meet 

THE PESO weakened on Monday due to safe-haven demand for the dollar ahead of the US Federal Reserve’s policy review this week. 

The peso closed at P50.24 per dollar on Monday, shedding 29 centavos from its P49.95 finish on Friday, based on data from the Bankers Association of the Philippines. 

This was the peso’s weakest close in nearly a month or since Aug. 23, when it ended trading at P50.27 per dollar. 

The peso opened Monday’s session at P50.08 per dollar. Its weakest showing was at P50.24, while its intraday best was at P50.05 versus the greenback. 

Dollars exchanged rose to $1.117 billion on Monday from $871.75 million on Friday. 

A trader said the peso weakened ahead of the Federal Open Market Committee’s policy meeting on Sept. 21-22. Markets expect Fed officials to give a clearer guidance on its plan to reduce its bond purchases. 

However, a Reuters poll found that 36 out of 49 economists expect the Fed’s taper announcement will be done in November and not this month. 

Meanwhile, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said external debt data released last week also caused the peso to drop. 

External debt hit $101.2 billion as of end-June, rising by 15.7% from the $101.2 billion a year earlier, based on data released by the Bangko Sentral ng Pilipinas (BSP) on Friday evening. This was the highest since at least the end of 2011, based on available BSP data. 

For today, the trader gave a forecast range of P50 to P50.25, while Mr. Ricafort expects the local unit to move within P50.10 to P50.30 per dollar. — LWTN with Reuters 

Shares drop ahead of Fed, BSP policy meetings

PHILIPPINE STAR/KRIZ JOHN ROSALES

PHILIPPINE shares opened the week in the red on cautious trading due to the lack of positive catalysts and ahead of central bank meetings here and abroad. 

The Philippine Stock Exchange index (PSEi) lost 54.95 points or 0.79% to close at 6,857.90 on Monday, while the all shares index shed 29.51 points or 0.68% to 4,266.33.

“The lack of a positive catalyst allowed selling pressures to dominate the market,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message. 

“Investors have also taken a cautious stance while waiting for a clear direction on the trend of our COVID-19 (coronavirus disease 2019) cases. Trading was tepid,” he added.

Value turnover dropped to P7.23 billion with 2.29 billion shares switching hands on Monday, nearly half of the P15.22 billion with 1.81 billion issues traded on Friday.

“Philippine shares were off to a slow start this Monday as no economic data releases are on the schedule here and in the US,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

“The Federal Reserve will meet… to discuss its policies,” Mr. Limlingan said. “The investors have been anticipating this meeting as the market expects it would give more color on the timing of the Fed’s planned scaling back of its asset purchases.”

“Back home, investors are also waiting for the Monetary Board’s meeting on Sept. 23. Moreover, the August BoP (balance of payments) will be out [this week],” he added.

A BusinessWorld poll last week showed 17 of 18 analysts expect the central bank to keep its policy rate at its record low of two percent as it continues to support the economy despite rising inflation.

Meanwhile, Asian shares eased and the dollar held firm on Monday as the Fed is likely to take another step toward tapering, Reuters reported.

Early Monday, MSCI’s broadest index of Asia-Pacific shares outside Japan dipped another 0.2%, after shedding 2.5% last week.

The Fed is still expected to lay the groundwork for a tapering at its policy meeting on Tuesday and Wednesday, though the consensus is for an actual announcement to be delayed until the November or December meetings.

Majority of sectoral indices closed in the red on Monday except for services, which went up by 9.31 points or 0.50% to finish at 1,839.81.

Meanwhile, mining and oil dropped 249.34 points or 2.63% to 9,197.54; property declined by 42.97 points or 1.41% to 2,996.94; financials shaved off 20.25 points or 1.40% to 1,422.21; industrials dropped 101.40 points or 0.99% to finish at 10,070.56; and holding firms lost 57.30 points or 0.82% to end at 6,929.76.

Decliners beat advancers, 165 against 42, as 36 names closed unchanged.

Net foreign selling decreased to P30.27 million on Monday from the P812.96 million logged on Friday. — K.C.G. Valmonte with Reuters

1...7,4357,4367,437...14,194Page 7,436 of 14,194
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin X Youtube