Stuff to Do (05/14/21)

May 14, 2021 | 12:02 am

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CCP Arthouse Cinema pays tribute to Filipino workers

THE CCP Arthouse Cinema salutes Filipino workers in this month’s film offerings on the Cultural Center of the Philippines’ (CCP) Vimeo Channel from May 14 to 21. To be shown are select films and documentaries from Gawad Alternatibo which mirror the daily plight of Filipino workers. Take a peek into the lives of factory workers in Jon Red’s 10-minute film Ang Pabrika. Directed by Cha Escala and Emerald Hidalgo, Pasko ni Intoy (Intoy’s Christmas) is a 30-minute documentary that portrays the bitter-sweet Christmas of a child-laborer in a remote community in Leyte. To watch the films for free, go to vimeo.com/ondemand/ccparthousecinema and use the promo code LABOR.

The EU’s children’s cultural festival

THE EUROPEAN Union (EU) Delegation to the Philippines mounts the virtual edition of the annual cultural festival Lakbayin Natin ang EU on May 16, 10 a.m., via the EU in the Philippines Facebook Page. This is a part of the ongoing Viva Europa celebrations and focuses on the theme “Children for Friendship,” featuring arts, crafts, songs, poetry, and storytelling from the Embassies of the Czech Republic, Germany, France, Austria, Poland, and the Philippine-Italian Association. The activities include a reading of Adolf Heydukh’s poem Štěstí or (Fortune) in both Czech and in English by the daughters of the Czech Ambassador and the Czech Deputy Ambassador; and Country Comparisons in which German grade schoolers will appear in a video highlighting comparisons between Germany and Philippines in terms of weather, clothing, animals, and landmarks. France will present 14-year-old soprano Yumi — the World for Opera, Junior Division champion of the 2019 World Championship of Performing Arts and the host of Musikwela Kids TV — performing “L’amour” and “Ode to Joy,” while Italy will mark the 140^th anniversary of the first appearance of Pinocchio through storytelling of Ang Pangako ni Pinocchio narrated by the storytellers of the National Library of the Philippines, and a nursery rhyme on friendship by Italian writer Gianni Rodari, interpreted by three Italian students. There will also be a “Country Tour” where kids will be taken around Austria to learn more about its rich culture; Rhyme by Poland where representatives from the Polish Embassy will recite the Lokomotywa or (Locomotive) by Polish poet Julian Tuwim. Samantha Belwa of Teens for Unity PH will teach how to make friendship bracelets. There will also be a display of the winning works in the EU Delegation’s Art Contest.

Photo portraits at the Art Fair

ART/n23, a multi-city agency for Philippine contemporary artists, will be presenting the work of Paris-based Filipino photographer Ding Gerrous during Art Fair Philippines 2021. Ding Gerrous (born Panganiban) specialized in an artisanal photographic process called wet plate collodion. In a sense, it is the ancestor of film as we know it. Interestingly, Mr. Gerrous uses recuperated window glass panes from old buildings in Paris. All of his works are unique pieces, working on both portrait and conceptual photography. To adapt during the lockdown, art/n23 has partnered with Mr. Gerrous to produce virtual Zoom portrait sittings. Sitters will need a decent Internet connection, natural or spot light, and a phone or computer camera. Portraits may be done with props, favorite art works, or friends and family members. The sittings take 20 to 30 minutes after which sitters will receive digital proofs and be shipped their glass portraits of 5×7 inches. Book a sitting through www.artn23.com, or e-mail contact@artn23.com. Art Fair Philippines is ongoing online until May 16, at www.artfairphilippines.com. Metro Mom convention on SaturdayMetro magazine is set to inform, involve, and recharge moms with a Mother’s Day event dubbed “Metro MomCon,” a one-day gathering on May 15. The free event will take place on Zoom, and will include panel discussions and workshops on parenting, food, home and living, relationships, and beauty. Here will be a panel discussion on “How to Keep Your Sanity While Raising Your Kids” with Metro editor-in-chief Geolette Esguerra, Dr. Lia Bernardo, and celebrity moms Andi Manzano, Bianca Gonzalez-Intal, Jodi Sta. Maria, Mikaela Lagdameo-Martinez, and Sofia Andres. There will be a “Shibuya Hotpot Cooking Workshop,” an interactive online cooking workshop with chef Him Uy de Baron of Himpossible Recipes who will show how to prepare Japanese dishes for four to five people. Happy Ongpauco will show new ways to make celebrations at home even more special in one workshop. Beauty experts will demonstrate how to glam up for Zoom meetings, virtual gatherings, and home celebrations. Everything is covered from makeup with Albert Kurniawan, hairstyling with Lourd Ramos, to haircare with Dr. Risa Caldoza-de Leon and Dr. Cecilia Catapang. Janeena Chan leads this workshop as its host. A juicy and relevant session will cover everything about getting intimate during these times — over cocktails. Join the discussion with host Delamar Arias and sex and relationships therapist Rica Cruz and create your own cocktails with free kits from Served Manila. The kids can also take part in various workshops, including PETA’s Children’s Theater Sneak Peek (for kids ages seven to 12; free for the first 30 registrants), OneTwoStep HipHop Dance Workshop for Kids (ages four to seven and eight to 11; free for the first 30 registrants for each age group), and WIKA’Y GALING! Filipino Workshop for the Family (for kids ages six to 10). For more details, visit Metro.Style and @metrodotstyle on IG and Twitter, and metrodotstyle on Facebook.

Mexico scraps tainted GM union vote; US lawmakers warn of labor abuses

May 14, 2021 | 12:02 am

MEXICAN AUTHORITIES on Tuesday ordered the General Motors Co. (GM) union in the city of Silao to repeat a worker vote following pressure from US lawmakers for the automaker to address alleged abuses that could potentially violate a new trade deal.

Mexico’s labor ministry said it found “serious irregularities” in last month’s vote, which is required under a Mexican labor reform to ensure workers are not bound to contracts that are signed behind their backs and keep wages low.

Such votes are part of Mexico’s broader effort to uphold worker rights as part of a new free trade pact that replaces NAFTA.

The concerns over GM come amid various complaints in recent days regarding Mexican workplace abuses, just as US activists and politicians begin to flex new powers to enforce labor standards south of the border enshrined in the United States-Mexico-Canada Agreement (USMCA).

The largest US labor federation, the AFL-CIO, on Monday urged the US government to file a complaint under USMCA against Tridonex, an auto-parts plant in the Mexican border city of Matamoros where it said workers have been blocked from electing an independent union.

In the GM case, some ballots were destroyed during the union-led vote, Mexico’s labor ministry found. It also said the union, which is part of the powerful Confederation of Mexican Workers (CTM), refused to give labor inspectors documentation of the vote tally.

US Representatives Dan Kildee, Bill Pascrell and Earl Blumenauer, all Democrats, called on GM to answer questions about potential abuses.

The largest US automaker “has a responsibility to speak out against violations of labor and human rights abuses at the Silao GM plant,” they said in a letter to GM Chief Executive Mary Barra.

The lawmakers also cited news reports indicating that GM officials had removed independent inspectors, among other intimidation tactics targeting workers.

GM (GM.N) has denied wrongdoing, and said government-approved inspectors were not prevented from entering the voting site. It also said it condemned labor rights violations and had hired a third-party firm to review the matter.

GM’s union must hold a new vote within 30 days, the ministry said, after the initial vote “violated principles of safety and certainty.”

Hugo Varela, head of the CTM in Guanajuato state, where the Silao plant is located, did not respond to a request for comment on the labor ministry’s order.

He previously said that CTM was committed to complying with the law and keeping jobs in Mexico.

A spokesman for the US Trade Representative’s office declined to comment on GM.

The disputed vote at Silao, which employs some 6,000 people, came several days before GM said it would invest $1 billion in an electric vehicle manufacturing complex in Mexico, triggering criticism from the United Auto Workers.

UAW spokesman Brian Rothenberg told Reuters separately this week that it was “concerned and is having appropriate discussions” about the Mexico vote.

In addition, Geneva-based IndustriALL Global Unions and Toronto-based Unifor said in letters to GM President Mark Reuss last week that the incident appeared to violate the USMCA and urged GM to protect workers.

Unifor’s president, Jerry Dias, expressed his “outrage” at the situation and said he would explore “all available avenues” to uphold worker rights in Mexico, including dispute resolution tools under the USMCA. — Reuters

Entertainment News (05/14/21)

May 14, 2021 | 12:01 am

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Final two weeks of ABS-CBN’s Almost Paradise

ABS-CBN and Electric Entertainment’s crime drama series Almost Paradise is in its last two weeks on Kapamilya Channel and A2Z. The drama follows the story of former US secret agent Alex Walker (Christian Kane), who was drawn back to his old life after retiring in the island paradise of Cebu. Almost Paradise airs every Sunday, 8:45 p.m., on Kapamilya Channel, A2Z, iWantTFC, and Kapamilya Online Live (KOL) on Facebook and YouTube. Viewers in the Philippines can re-watch the latest episode for seven days after it is streamed on KOL. They can also watch all previous episodes, in English or Filipino, on iWantTFC.

Cast of Doctor Foster Filipino adaptation announced

ACTRESS Jodi Sta. Maria is the lead star in the Filipino remake of the BBC’s global hit Doctor Foster which will be known locally as The Broken Marriage Vow. Ms. Sta. Maria will play Dra. Jill Ilustre, the Filipina counterpart of BBC’s Gemma Foster. A loving wife and mother with an accomplished medical career, Jill begins to see cracks in her picture-perfect life when she discovers that her husband is having an affair with a younger woman. Zanjoe Marudo plays David Ilustre, the Pinoy version of Simon Foster. The mistress Lexy Lucero (the Pinay Kate Parks) will be played by Sue Ramirez. Completing the main cast is Zaijian Jaranilla, who will be playing Gio Ilustre, the Filipino Tom Foster. Directed by Concepcion “Connie” Macatuno, The Broken Marriage Vow is the sixth local adaptation of Doctor Foster following its adaptations in France, Russia, Turkey, India, and South Korea. The Broken Marriage Vow will be produced by Dreamscape Entertainment.

Two dog’s fall in love in Sponge Cola’s ‘Labis-labis’ music video

TWO puppies fall in love in Sponge Cola’s “Labis-labis” music video. Showcasing romance from the perspective of pets, the video steps into the world of meet-cute and courtship of two-year-old poodle, Alex and six-year-old aspin, Jamie. The music video of “Labis-labis” is directed by Robin Estargo. Having experienced shooting several video projects involving dogs, Mr. Estargo and his production team knew how challenging it is to pull off a compelling narrative that features pets as main cast. The music video of “Labis-labis” is out now on YouTube via Sony Music Philippines.

Reality shows on hayu in May

HAYU offers reality shows on housewives, dating, and surgical transformations this May. Take a peek into the drama-filled but luxurious lives of The Real Housewives of Beverly Hills Season 11 and get more of the glamorous lifestyles in The Real Housewives of New York Season 13. For some medical action, Botched offers a glimpse into the lives of Drs. Paul Nassif and Terry Dubrow in another season of patient transformations. Wondering where the rich are snapping up properties with the coronavirus disease 2019 (COVID-19) crisis changing the New York real estate scene? Catch Million Dollar Listing and follow a group of real estate brokers as they work with high-end clientele. Learn what modern dating is all about with Dating New Filter UK Season 1. Access unlimited shows with a subscription plan or prepaid pass. Sign-up via hayu.com to a weekly plan for P49 or a monthly plan of P149 with a free trial of seven days; or get a hayu prepaid pass.

Julie Anne San Jose drops new music video

FIVE days after Julie Anne San Jose dropped “Free,” her first single for this year, she released a fierce music video which showcases her singing prowess and her flair for dancing. “Free” was featured in Spotify’s New Music Friday and OPM Rising playlists and YouTube Music’s New Releases section. It also landed the No. 2 spot on iTunes Philippines Chart just a few hours after its official release last week. The song is produced by Herdy Casseus, Andrew Gonzales, Carlisle Tabanera, and Ito Rapadas. Ms. San Jose also co-wrote the song with Eduardo Gonzalez and Denise Pimping. Stream “Free” on Spotify, Apple Music, YouTube Music, Amazon Music, Deezer, and all digital stores worldwide under Universal Records. Directed by Miggy Tanchanco, the official “Free” music video is now available on YouTube.

Pinoy Big Brother alumni join The Squad Plus

PINOY Big Brother Connect alumni Andi Abaya, Kobie Brown, Haira Palaguitto, and Kyron Aguilera join The Squad Plus, Dreamscape Entertainment’s teen show, to further develop their talents as they wait for their next big projects in showbiz. Get to know the four better by liking the videos and subscribing to The Squad Plus’ YouTube channel (YouTube.com/TheSquadPlus), which regularly uploads vlogs and games featuring all the squadmates. With three million subscribers and 274 million views, The Squad Plus is one of ABS-CBN’s most subscribed and most followed channels on the video-streaming platform. For updates, follow @thesquadplus_ on Tiktok and Instagram.

iQiyi International’s first original K-drama series

THE LEGENDARY Korean creature Gumiho (Nine-tailed fox) falls in love with a girl 977 years younger than him in iQiyi’s first K-drama series My Roommate Is a Gumiho. Adapted from a popular Korean webtoon, the upcoming series features Jang Ki-yong as Gumiho. The series tells the story of a Gumiho, Shin Woo-yeo, that has lived in the human world for hundreds of years. Right before he can permanently turn into a human, his fox beads are swallowed by Lee Dam in an accident. Forced to live together for a solution, they set many rules for cohabitation to live their lives. It becomes a new romance between human and non-human. My Roommate Is a Gumiho premieres on May 26, 9:30 p.m. SGT, with new episodes dropping on Wednesdays and Thursdays simulcast with Korea.

HBO Max releases original film Let Them All Talk on HBO GO, HBO

DIRECTED by Academy Award winner Steven Soderbergh, the HBO Max Original feature film Let Them All Talk features an all-star cast including Meryl Streep, Candice Bergen, Gemma Chan, Lucas Hedges, and Dianne Wiest. Let Them All Talk, which premieres on May 22, 9 p.m., exclusively on HBO GO and HBO, follows a celebrated author (Streep) who boards an ocean liner with old friends (Bergen and Wiest) to have some fun and heal old wounds. Her nephew (Hedges) comes along to wrangle the ladies as well as her new literary agent (Chan).

PAGCOR remits P1.6-B income as dividends to government

May 14, 2021 | 12:01 am

STATE-RUN gaming regulator Philippine Amusement and Gaming Corp. (PAGCOR) remitted all of its P1.57-billion net earnings as cash dividends to the Bureau of the Treasury on Wednesday to aid the government with its pandemic response.

PAGCOR said in a statement that the amount made up its entire net income last year. Its earnings plunged 83.7% in 2020 from P9.66 billion in 2019.

The funds will be used to boost government war chest against the coronavirus pandemic, it said.

“The current global health crisis is taking its toll on our income generation due to the suspension of gaming operations. But through our prudent use of funds, we are able to support the government’s significant endeavors, especially our battle against COVID-19,” PAGCOR Chairman and Chief Executive Officer Andrea D. Domingo said in the statement.

Republic Act No. 7656 requires government-owned and -controlled corporations (GOCCs) to declare 50% of their net income as dividends to the government.

“This latest dividend remittance from PAGCOR will help fuel further the national government’s economic stimulus program in light of the pandemic. We are thankful that PAGCOR has been a very responsive partner of the government in coping with the global health crisis,” Deputy Treasurer-Officer-in-Charge Eduardo Anthony G. Mariño III said.

In 2019, PAGCOR remitted P18 billion in cash dividends to the government, making it the third-highest contributor behind the Bangko Sentral ng Pilipinas and the Philippine Deposit Insurance Corp.

Last year, overall dividend remittances hit an all-time high of P157 billion after the government asked GOCCs to remit their dividends ahead of time at the height of the pandemic, when the state needed more revenues to fund its ballooning deficit.

The Department of Finance earlier proposed to hike GOCCs’ dividend contribution rate to 75% from 50% currently. — Beatrice M. Laforga

Things to consider when thinking about a job change

May 14, 2021 | 12:01 am

I’m planning to leave my current job for greener pastures. I’ve been in this company for 10 years without any significant adjustment in my pay package. More than the material reward, I’d like to “breathe fresh air” and change my work environment for the better. Should I join the job market now? — Stumbling Block.

Two men were sailing on a small boat in the open sea when suddenly big waves began to rock their fragile boat. One of them began to pray:

“O dear Lord, I’ve broken many of your commandments. I drink a lot, I curse, I steal, and I’ve coveted my neighbor’s wife.

“If my life is spared now, I promise that I’ll change all of that for the better. I’ll never drink again. I’ll never curse again, I…” Suddenly his friend cried out: “Wait. Don’t go too far with your prayer. There’s a nearby ship coming to get us.”

This story tells us of the need for change with the help of the Almighty when something bad is happening to us. Why not? Prayer can guide us. In your case, it appears you’ve already established your priorities, which if I understand correctly means that changing the work environment is more important than the expected material reward. If that’s the case, then you need to think twice before moving on to other employers.

The reason is easy to understand. You don’t know what is in store for you with a new employer, even if it promises you an ideal work situation and material reward. Promises can be broken.

FIVE UNKNOWNS
More than the promises of a new employer, it will depend on your age. If you’re more than 50 years old, generally speaking, I would advise you to stay put with your current employer until retirement. Improve your work performance. Make yourself busy, no matter how difficult it may be.

Even if you’re under 50, it’s a good idea to anticipate all possible problems if you move to another organization. Now, explore the following unknowns to avoid jumping from the frying pan and directly into the fire:

One, you don’t know the management style of your potential boss. Sure, you can ask around. But how many would be willing to spill the beans, unless you’re talking to close friends who are already working for that company? What if you don’t know anyone in that organization? If you’re happy with your current boss and you need only to “breathe fresh air,” then go for a vacation.

Even a short break can be used to plan and rethink your future in and out of that organization.

Two, you don’t know whether the resident Mafia might act towards you. In many organizations, people have already built their respective empires, which are difficult to dismantle. Usually, they hold rank and are in a position to undermine your efforts towards meaningful change. Any of the people you meet in the elevator, hallway, cafeteria, or even next to you could be a person who was bypassed for the job you are occupying.

Generally, many of them for some reason hate outsiders acting against them. Do you have sufficient nerve to go up against these people, who can sabotage all your efforts?

Three, you don’t know if you’ll be relocated to an area you don’t like. Remember, transfer is a management prerogative you can’t oppose unless you claim harassment or constructive dismissal, among other things. If this happens, your only recourse is to file a labor case. Would you like to go to those lengths? This could just as easily happen to you with your current employer.

But, at least, your experience, friendship, reputation, and seniority within that organization might save you from being assigned to an undesirable location.

Four, you don’t know how the new employer could impact your family. You should consult your better half and your children, assuming they’re old enough to understand your career plan. It’s not easy to make a career move without involving your family, particularly if there are long-term issues you have not considered.

Whatever happens, make your family’s concerns a top priority.

Five, you don’t know the future of the other organization. You’re a newcomer. How deep is your understanding of the inside workings of the other company? If you’ll be working for a medium-sized or major organization, chances are, you could be a part of a restructuring or reorganization. If that happens, you can lose your job just like that if you don’t have the stellar work performance that would persuade the new owner to retain your services.

Therefore, it is imperative for you to do your homework and anticipate how the industry might shape up.

STRESS IS EVERYWHERE
Sometimes, the best solution lies in the place where the problem was created. You don’t have to go far and wide to look for a new job to “breathe fresh air.” Talk to your boss if you feel bored or if monotony is killing you. Explore the possibility of being assigned to another department, or work within the same department with a challenging new as signment.

The pandemic situation is not the right time to move to another organization. If your company does not intend to cut its payroll, you need to work hard. Your best approach is to ease whatever pressures are building up against your organization caused by the pandemic.

Job stress and burnout will always be there, with or without the pandemic. It’s everywhere, in and out of your current organization. Therefore, it pays to undertake an exhaustive evaluation of how you can make your life a little easier. Once again, use your vacation time to reflect on your plans.

Have a consulting chat with Rey Elbo on Facebook, Linked, or Twitter or you can send anonymous questions to elbonomics@gmail.com or via https://reyelbo.consulting

Stepping down, stepping up

May 14, 2021 | 12:01 am

STEPPING DOWN

PHILIPPINE National Bank is an excellent turnaround story. PNB, then a government bank, even acted as the “de facto central cank” before the establishment of the central bank in 1949. It was THE BANK and nothing came close. It had a colorful history of ups and downs.

After 20 years — starting out as a government nominee director in 2001 and PNB chairman for 15 years — I stepped down as chairman at the stockholders’ meeting on April 27, in compliance with the BSP rule on the independent director nine-year term limit. Vice Chair Rico Alfiler stepped down too.

I am so fortunate to have been blessed to be a part of PNB’s history. In 1999 with assets of P192 billion, capital of P20 billion, operating income of P7 billion, it incurred a P13-billion loss and was placed under rehabilitation. I recall about a dozen BSP examiners held office in PNB as BSP’s “watchdogs.” With the good bank-bad bank strategy and a competent management team, PNB prepaid its P10-billion government financing four years prior to due date. The BSP examiners eventually left and BSP adviser Florido Casuela became PNB director. PNB was fully privatized by 2007. In 2013, PNB and Allied Bank merged and in 2016, PNB celebrated its centennial year.

The PNB board (with icons like Kapitan Lucio Tan, Wash Sycip, Atty. Estelito Mendoza, banker Sonny Vistan, Cecilio Pedro, etc.) was always supportive of management. Management was professional and competent, led by PNB presidents such as former BSP Deputy Governor Feliciano Miranda, Lorenzo Tan, Omar Mier, Eugene Acevedo, Lito Pedrosa, Rey Maclang, and now Wick Veloso.

In 2019, PNB had total assets of P1.1 trillion and capital of P155 billion with operating income of P40 billion and net income of P9.8 billion. Despite the negative impact of the COVID-19 lockdown on the economy, PNB remained profitable in 2020. PNB is the fourth biggest domestic private domestic bank. PNB in 2020 was also distinguished for a three Golden Arrow recognition as one of the model enterprises for corporate governance in the Philippines from SEC and ICD. It received awards as the Best Bank for Corporate Social Responsibility from Asiamoney and Best Managed Bank and Best CEO from The Asian Banker. PNB was also the first universal bank in the Philippines to be certified as gender-equal after receiving its Economic Dividends for Gender Equality Certification. LinkedIn also cited PNB as the Philippines’ best company to work for in 2021 because of its excellent response to the pandemic and managing to remain profitable in 2020

With PNB’s strong management team led by President Wick, capable and diversified board led by Chairman Federico Pascual and Vice Chairman Leonilo Coronel, PNB is the bank you can lean on! For me, PNB Philippine National Bank is PiNakaBest Bank!

STEPPING UP

How fast time really flies! Joel (my sister Kay’s second son and GMA 7 director) and Gidget Jimenez (award-winning children’s author and my partner in the book The Secret is in the Soil) invited me to the virtual graduation (from a double major in Modern Culture & Media and Psychology) of their youngest Sofie at Brown University in Boston. It seems like it was just yesterday when she graduated from International School (IS) and left for college, and now she is graduating. I’m amazed at Joel and Gidget’s transformation as parent role models in bringing up their children (Jaime, Bianca and Sofie) to be so accomplished and achievers. Even more impressive is being down to earth and not feeling “entitled,” the usual downfall in spoiled kids today.

Vicky Herrera, the IS guidance counselor and daughter of icon Wash Sycip (who I miss in PNB Board for his counsel and wisdom), was present and I can sense the guidance, the time, and effort and monitoring she gave to the Jimenez kids. At the wake of Wash Sycip, I was surprised to see the Jimenez kids all lining up. They were there to pay their respects because he, Wash Sycip, was Vicky Herrera’s dad. Salute to you Vicky with the legacy you have given these children.

Congratulations on your graduation, Sofie! We are so proud of you. “As you step out to the world, the world can’t contain you, so don’t hold back” was the message of Brown U to the graduates.

Stepping down and stepping up are different seasons. Miguel Jimenez’ prayer for his cousin Sofie is universal in any season of our life.

“For I know the plans I have for you, declares the Lord, plans for welfare and not for evil, to give you a future and a hope. Then, you will call upon me and come and pray to me, and I will hear you.” — Jeremiah 29:11-12

Flor G. Tarriela is the first female chairman of the Philippine National Bank. She is a former Undersecretary of Finance and the first Filipina vice-president of Citibank N.A. She is a trustee of FINEX and an Institute of Corporate Directors fellow. A gardener and an environmentalist, she established Flor’s Garden in Antipolo, an ATI Accredited Extension Service Provider and a DoT Accredited Agri Tourism Site.

Spending on nonessential items still sluggish in Q1 2021

May 14, 2021 | 12:00 am

Market to take its cue from BSP, economic data

May 13, 2021 | 9:00 pm

PSE-stocks — COURTESY OF PHILIPPINE STOCK EXCHANGE, INC.

INVESTORS are expected to take their cue from the Bangko Sentral ng Pilipinas’ (BSP) recent policy decision and local economic data as the market reopens today after a one-day break.

The benchmark Philippine Stock Exchange index fell by 90.43 points or 1.42% to close at 6,236.40 on Wednesday. The broader all shares index also declined by 49.96 points or 1.27% to 3,858.

Financial markets were closed on Thursday in observance of the Feast of Ramadan or Eid al-Fitr.

“We may have to see how the market reacts to the BSP’s revision of its inflation forecasts for 2021,” Darren Blaine T. Pangan, trader at Timson Securities, Inc., said in a Viber message on Wednesday.

“The market ended on green territory during the first two days of the week, following reports of [improved] trade activity for the first quarter of the year 2021. However, the index slid on Wednesday as investors may have assessed the MSCI rebalancing activities as well as the GDP (gross domestic product) report for the [first] quarter of the year,” Mr. Pangan said.

AAA Southeast Equities, Inc. Research Head Christopher John J. Mangun said the index showed more weakness after the release of “disappointing key economic data.”

“This has generated more fear among investors that the economic situation might be a lot worse than what was perceived,” Mr. Mangun said via e-mail on Wednesday.

“Bank lending for the month of March also contracted by 4.5% mainly due to the decline in loans for production activities. This tells us that companies are currently not doing enough business to justify the need for more liquidity despite lower rates,” Mr. Mangun added.

The BSP held its key interest rate at a record low for a fourth straight meeting on Wednesday, as it continues to support the economy’s recovery from the pandemic.

The Monetary Board maintained the overnight reverse repurchase rate at a historic low of 2%. Both the lending and deposit rates were also kept at 2.5% and 1.5%, respectively.

Meanwhile, the central bank lowered its inflation outlook this year to 3.9%, from a previous estimate of 4.2%. On the other hand, the forecast for 2022 was raised to 3%, from 2.8% previously. This will put inflation back within the BSP’s 2-4% annual target range.

The BSP’s decision to keep rates steady came a day after release of disappointing first-quarter GDP data. For the first three months of 2021, GDP shrank by an annual 4.2%, keeping the economy in a recession for a fifth consecutive quarter.

Mr. Mangun however noted that the market is “forward-looking” and is expected to improve.

“Most are expecting GDP growth in Q2 despite the tighter restrictions. We may see the market lose another 5-7% in the short term although, we still believe that current levels provide a good opportunity for investors in anticipation of higher valuations in the medium to long term,” he said.

Meanwhile, Timson Securities’ Mr. Pangan expects the index to move between 6,010 and 6,500. — Keren Concepcion G. Valmonte

Philippines to again protest Chinese ships at sea

May 13, 2021 | 8:08 pm

By Kyle Aristophere T. Atienza and Vann Marlo M. Villegas, Reporters

THE PHILIPPINES’ top envoy on Thursday ordered his agency to file another diplomatic protest against China for the continued presence of almost 300 ships in the Spratly Islands in the South China Sea.

“Fire a diplomatic protest,” Foreign Affairs Secretary Teodoro  Locsin, Jr. tweeted.

He also criticized a Philippine Task for failing to alert the Department of Foreign Affairs (DFA) before issuing a statement on the Chinese ships.

Hundreds of Chinese militia vessels were still scattered around the Spratlys, both within and outside Manila’s exclusive economic zone, the task force said on Tuesday night.

In a statement, it said 287 Chinese ships were still in Philippine waters, many of them spotted near artificial islands built by China, while some were near islands occupied by Manila, based on patrols made on May 9.

Two Houbei class missile warships were also near Mischief Reef, while two Vietnamese logistics ships and a VN Coast Guard vessel were at Grierson Reef, it said.

Thirty-four Chinese ships also remained at Whitsun Reef, which the Philippines also claims.

The government would continue to defend its sovereign rights and jurisdiction over the “West Philippine Sea,” the task force said, referring to areas of the waterway within the country’s exclusive economic zone.

It said Whitsun Reef, which the Philippines calls Julian Felipe, is within the country’s 200-nautical mile exclusive economic zone and is part of Philippine territory, counting presidential spokesman Herminio L. Roque, Jr.’s earlier claim that the reef was outside the country’s ecozone.

Mr. Locsin on Tuesday said he alone should speak for President Rodrigo R. Duterte on foreign policy matters including the sea dispute with China.

Meanwhile, Mr. Roque said he was still allowed to talk about the South China Sea dispute after talking to the top Philippine envoy.

“We are fine,” he told a televised news briefing. “We agreed that I would continue to talk about international law as a field,” he said in Filipino.

Mr. Roque clarified that Whitsun Reef is part of the territorial sea generated by two high tide elevations occupied by China and Vietnam.

He said the reef, which is within the 200-nautical mile exclusive economic zone of the Philippines, is being claimed by the country based on a presidential decree issued by the late dictator Ferdinand E. Marcos.

‘POLITICIZING’
Mr. Roque insists that government critics have been politicizing the presence of Chinese vessels near the reef

This was not the first time that Mr. Roque and Mr. Locsin clashed over the China issue.

In February, the envoy told Mr. Roque to “lay off” after he suggested that the Philippines should sue China at an international court for passing a law allowing its coast guard to fire at foreign vessels in the waterway.

The Philippines has filed several protests against China over the vessels’ lingering presence in the disputed sea.

This month, Mr. Locsin minced no words in telling the Chinese to get out of Philippine waters in the South China Sea, cussing at its neighbor for failing to reciprocate its goodwill.

The presidential palace later distanced itself from Mr. Locsin, with Mr. Roque saying Mr. Duterte does not approve the use of profanities in the field of diplomacy.

Mr. Locsin later apologized to his Chinese counterpart, Foreign Minister Wang Yi, after his expletive-laden tweet.

A United Nations arbitration court in 2016 rejected China’s claim to more than 80% of the South China Sea. The Philippines under President Benigno S.C. Aquino III filed the lawsuit that critics said Mr. Duterte had failed to pursue.

Aside from the Philippines and China, Brunei, Malaysia, Vietnam and Taiwan also claim parts of the waterway.

Mr. Duterte had said the Philippines and China could settle the dispute peacefully. He also said China was a benefactor, citing vaccine donations and investments from its neighbor.

The tough-talking leader also said he never promised during his presidential campaign to retake the country’s territories in the South China Sea.

He rebuked retired Supreme Court Justice Antonio T. Carpio and former Foreign Affairs Secretary Albert del Rosario, who have spoken against his foreign policy on China, for forcing him to quarrel with his neighbor.

But Mr. Carpio belied the President’s claim, noting that during the campaign, he had promised to fight for Philippine sovereignty over the South China Sea.

He said Mr. Duterte had promised to ride a jet ski to Scarborough Shoal and plant the Philippine flag there.

Mr. Duterte this week said he was just joking.

Palace says ICU bed use rate in metro below critical levels

May 13, 2021 | 8:07 pm

ONLY two-thirds of the capital region’s intensive care unit (ICU) beds for coronavirus patients have been used, suggesting the continued decrease in infections, according to the presidential palace.

The use rate of the beds in Metro Manila and nearby provinces are now below critical levels, presidential spokesperson Herminio “Harry” L. Roque, Jr. told a televised news briefing on Thursday.

Only 46% of isolation beds in the regions were occupied, while 50% of ward beds for coronavirus patients had been used, he added. About 48% of ventilators had been used.

The national use rate for ICU beds was 61%, 44% for isolation beds and 50% for ward beds, Mr. Roque said. He added that 42% of ventilators had been used.

Mr. Roque earlier said the lockdown in Metro Manila would probably be eased this month as coronavirus infections get under control.

Meanwhile, Cabinet Secretary Karlo Alexei B. Nograles said a deal between the government and the proponent of a mega-vaccination site inside an 8.5-hectare urban forest managed by the Nayong Pilipino Foundation (NPF) was being finalized.

“It’s already been vetted by the Department of Tourism, it’s been vetted by the Department of Health (DoH), it’s now going through our government corporate counsel,” he said in a statement.

“Just a few minor edits and it will be signed very, very soon.”

DoH reported 6,385 coronavirus infections on Thursday, bringing the total to 1.12 million.

The death toll rose by 107 to 18,821, while recoveries increased by 4,289 to 1.05 million, it said in a bulletin.

There were 55,260 active cases, 1.4% of which were critical, 93.3% were mild, 2.2% did not show symptoms, 1.9% were severe and 1.18% were moderate.

It said 20 duplicates had been removed from the tally, 18 of which were tagged as recoveries and one as death. Fifty-nine recoveries were reclassified as deaths.

About 11.7 million Filipinos have been tested for the coronavirus as of May 11, according to DoH’s tracker website.

The coronavirus has sickened about 161.1 million and killed 3.3 million people worldwide, according to the Worldometers website, citing various sources including data from the World Health Organization.

About 138.9 million people have recovered, it said. — Kyle Aristophere T. Atienza and Vann Marlo M. Villegas

Gov’t tags 29 people terrorists; council accused of abuse

May 13, 2021 | 8:05 pm

Sison-Philstar — Communist Party of the Philippines founder Jose Maria Sison — PHILSTAR FILE PHOTO

THE GOVERNMENT has labeled 19 members of the Communist Party of the Philippines and its armed wing terrorists, according to an order published in newspapers on Thursday.

The Anti-Terrorism Council also issued a separate order labeling 10 members of Mindanao-based militant groups terrorists.

The Anti-Terrorism Council (ATC) has released on Thursday two separate resolutions wherein a total of 29 central committee members of the Communist Party of the Philippines and the New People’s Army (CPP/NPA) and of local terrorist groups were listed as terrorists.

The council said it had found probable cause based on “verified and validated information” that the 19 Maoist rebels were involved in “planning, preparing, facilitating, conspiring and inciting the commission of terrorism.”

They were also said to have recruited people to their group, which the country’s Anti-Terrorism law prohibits.

These people face criminal charges, apart from existing ones that have been filed in court against many of the suspects, Justice Undersecretary Adrian Ferdinand S. Sugay told reporters on Thursday.

The state may also seize their assets, he added.

Jose Maria “Joma” C. Sison, chief political consultant of the National Democratic Front of the Philippines (NDFP) and one of those tagged, said he and his wife were not bothered by the label.

“The list of names in the designation appears to be arbitrary, dubious and even contradictory or inconsistent” with statements made by “evil minions” the council’s task force.

Both resolutions were signed by council Chairman Salvador C. Medialdea and National Security Adviser and council Vice Chairman Hermogenes C. Esperon, Jr.

Some congressmen slammed the terror lists, which they said was “arbitrary and devoid of due process.”

In a statement, Bayan Muna Rep. Ferdinand Gaite said the list showed how the council could “easily abuse its power.”

Gabriela Rep. Arlene D. Brosas compared the label to a “naughty or nice list.” “While extremely ridiculous, it is deadly and dangerous not just to individuals and well meaning critics but also to whatever democratic space we have left.” — Bianca Angelica D. Anago and Gillian M. Cortez

Duterte calls for peace, healing as the country observes Eid’l Ftr

May 13, 2021 | 8:04 pm

PRESIDENT Rodrigo R. Duterte called for peace and healing on Thursday as the country observed Eid’l Ftr, the end of the Islamic holy month of Ramadan.

“Let us welcome a new hope that this Eid brings — for peace, prosperity, healing and strength as we build a progressive and brighter future for our people,” Mr. Duterte said in his message for the Feast of Breaking the Fast, a national holiday in the largely Catholic Philippines.

The President said he hoped that the end of Muslims’ holy month of fasting would inspire Filipinos to “continue promoting peace, unity and goodwill among our fellow Filipinos.”

Vice President Maria Leonor G. Robredo, in her message, said the celebration “is a continued reminder that we are a single community.”

Meanwhile, One Bangsamoro Movement (1Bangsa) asked the President to certify as urgent the proposed measures seeking to extend the term of the Bangsamoro Transition Authority (BTA) by another three years from 2022.

“Various sectors have spoken loud and clear in endorsing the BTA extension,” 1Bangsa President Alan Balangi-Amer said in a press release.

Mr. Balangi-Amer said a large number of Filipino Muslims favor the extension of the transition period “to sustain the gains of the Comprehensive Agreement on the Bangsamoro.”

He said Congress should “act with dispatch” with only nine remaining session days before it adjourns sine die on June 4. — Kyle Aristophere T. Atienza