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Jollibee’s London West End branch to open on May 20

COMPANY HANDOUT

RESTAURANT operator Jollibee Foods Corp. (JFC) said on Thursday that its flagship European store at the London West End’s Leicester Square will open on May 20.

“Opening in central London in such an iconic location is a huge step forward for Jollibee. Behind the scenes, we have been perfecting our new menu items as well as planning our brand-new restaurant design,” said Dennis M. Flores, Jollibee group’s regional business head for Europe, Middle East, Asia, and Australia, in a statement.

Around 75% of its customers are British locals, the company said.

Ernesto Tanmantiong, the restaurant operator’s president and chief executive officer, said the branch is part of Jollibee’s “continued commitment to [expanding] in Europe.”

The Jollibee group is eyeing to open 50 stores across the continent by 2025.

Seven more branches are set to launch this year, including a store in Scotland in Edinburgh, in Cardiff, Wales, and a store in Spain’s Madrid.

“Globally, Jollibee Group plans to open 450 restaurants across its brands this year with the long-term goal of being one of the world’s top five restaurant operators,” Mr. Tanmantiong said.

JFC shares at the stock market declined by 0.85% or P1.50 to close at P176 on Thursday. — Keren Concepcion G. Valmonte

Iwi and Nicole Laurel release duet in time for Mother’s Day

As a special Mother’s Day treat, mother and daughter singers Iwi and Nicole Laurel will launch their duet, “Special Memory,” on May 9 on Spotify. The accompanying music video will be launched on May 14 via Facebook Live at https://www.facebook.com/nicoleasensiomusic.

It was 1983 when the 19-year-old-Iwi Laurel juggled her love for theater, multiple singing stints, a restaurant job, and a pre-law college course, not knowing that she would soon encounter a simple melody that would change her life.

“It was during a rehearsal for a play we were doing with Repertory Philippines when a friend of mine, Raymond Lauchengco, asked me if I could sing one of the songs on the soundtrack of a movie he was working on with Gary Valenciano called Hotshots,” Iwi Laurel recalled. “It was a song meant to appear in the dream sequence of the movie. I said yes, and immediately they gave me the study material on cassette tape.”

The song, with music and lyrics composed by Cecile Azarcon and arranged by Homer Flores, was “Special Memory.”

“This song really took me by surprise, because way back in 1983, I was singing, working and studying at the same time,  so when I was offered this song, I thought my mind was set on becoming a lawyer,  but then the film became a hit  and the song garnered awards,  and so I guess I became a singer,  not a lawyer,” said Iwi Laurel in a statement.

Three years after recording the song, Iwi gave birth to Nicole whom she raised as a single mother.

“Growing up I was familiar with ‘Special Memory’ because everyone knew my mom for it,” said Nicole Laurel in a statement. “I grew up around that beautiful melody, but it was only as I got older that I realized how much more ‘Special Memory’ meant to me than a song my mother once sang.

“It was the last song she recorded before changing her life entirely to raise me.  I saw how tough things were for mom when I was growing up around her,  how she worked tirelessly making ends meet, how she made countless sacrifices to ensure me a better life. I relished every home cooked meal and home baked cake. I saw the tears and I saw the happiness, I am forever grateful.”

As a way of thanking her mother, Nicole reached out to Cecile Azarcon’s publisher and asked permission to remake the song and rearrange it as a duet, to which Ms. Azarcon agreed. The duet was arranged by Nicole’s regular keyboardist and arranger Nikko Rivera and the song’s original arranger Homer Flores.

Flores, Rivera, and the rhythm section recorded in their homes. The horn section and vocals were then recorded at Wildgrass studios, and all the tracks were mixed by award-winning engineer Angee Rozul and mastered in Abbey Road UK.

“Everything my mother did through the years is God’s ultimate blessing

to me, and not a day goes by that I try to give thanks for it,” said Nicole Laurel. “I wish there was more I could do to thank her, but for now, I hope this simple celebration of love will do. I love you mom. Happy Mother’s Day.”

‘Merika

‘Lingua Franca’ (ARRAY) — MEAWW.COM

Movie Review
Lingua Franca
Directed By Isabel Sandoval

Available On Netflix

Isabel Sandoval’s achievement in Lingua Franca, I submit, isn’t so much the breaking of boundaries or the allusion to current events (transgendered-directed film on transgendered relationships, and the perils of undocumented immigrants) but her plainspoken way of creating a mood, a feeling, the ambiance of an eerily depopulated, subtly menacing New York just this much more hostile to the marginalized.

Olivia (Sandoval) works as caregiver to the increasingly forgetful Olga (the late lovely Lynn Cohen) in the Brighton Beach neighborhood of New York (Olga sits with an orange in a kitchen, calls Olivia by phone, demands to know when she can go home; Olivia patiently reminds her that she is in fact at home, sitting in her own kitchen, surrounded by wallpaper she herself picked out). Olivia has two strikes against her: she’s undocumented, and she’s transgendered; she not only has to deal with ICE agents but when presenting herself to immigration officials (in the hope of getting that precious green card) has to deal with the fact that her passport shows the picture of a man, with a man’s name. Olivia has a plan (an arranged, paid-for marriage to an American citizen) and the means, however slow, to achieve that plan (she not only makes enough to eventually pay her “husband” the remaining $5,000, she has enough left over to send to her family back in Cebu, in the Philippines). Enter Olga’s distractingly attractive grandson Alex (Eamon Farren); he’s coming out of rehab (presumably for alcohol, implicitly for drugs), is working a job (arranged for him by his mother) at a slaughterhouse with an uncle, and is staying with his baba, partly to have a place to stay, partly to help Olivia care for her.

Will Olivia get her green card? Will she and Alex fall in love? Ms. Sandoval doesn’t seem to focus on plot mechanics so much as on the relationships between different characters: Alex with his baba (low-key playful, affectionate), Alex with his intimidating uncle (sullen-submissive vs. loudly demanding), Alex with Olivia (gently flirtatious), Olivia on long-distance calls with her unseen anxious mother (reassuring if resigned), Olivia with her best friend Trixie (Ivory Aquino, another transgendered actress —  they confide with each other as if lifelong friends, which they are [as kids they considered becoming altar boys together]).

Surrounding these forlorn melancholy figures is a faintly unfamiliar if recognizably gritty New York. If better-known Manhattan is constantly teeming with unruly life, its outer boroughs move with a more measured step, with room enough for the occasional empty street or deserted boardwalk. Sandoval captures streets with crumbling ‘70s storefronts and memorably archaic elevated rails; with cinematographer Isaac Banks (his first fiction feature) she employs a muted color palette to depict a more muted New York, seen mostly at night or late dusk; one of the few moments of genuine color to be found in the film would be the blue flash of police car lights startling Olivia as she rounds a street corner — the stuff of nightmares for a cardless alien.

When it counts, Ms. Sandoval raises the thermostat a notch: a scene between Olivia and Alex involves Alex reading aloud to his baba: “I will cover you with love when next I see you, with caresses, with ecstasy” —  an excerpt from a love letter written to Olga by her husband, surreptitiously copied off of Flaubert. It’s an unfussy but complex moment: Alex’s grandfather pulls off a deception Olga later uncovers, doesn’t stop Olga from treasuring the silly missive; Olivia is informed outright of the plagiarism, but the words as read in Alex’s voice doesn’t stop Olivia from drifting off into a fantasy involving the two, with more words, this time in her voice, spoken in her childhood language of Cebuano (“emissaries of carnage… scorching the earth, engulfing me in flames”). From English to Cebuano, from exotic excerpts from a French romantic to the exotic cadences and flavors of a Filipino dialect —  Ms. Sandoval provocatively dubs herself “Queen of Sensual Cinema” and the tagline may be premature, may perhaps be unwarranted, but in those fleeting fragile moments at least you find yourself sold.

Mention must be made of Gil Portes’ Merika, again about a Filipina health care worker struggling to survive the United States: Nora Aunor’s Mila has legal status and is fairly well off, but Portes just as eloquently captures her sense of isolation from her home. Not sure if Ms. Sandoval has seen the film, but her’s feels like a spiritual descendant, with a similarly spare severe tone — Olivia as Mila in Bidenland, forced to confront shifting questions about human connection and sexual identity. Not going to go into a discussion of who gives the better performance —  I’d rather think of them as sisters in exile, and if they could meet they would have much to say to each other. 

Many critics take exception to the films’ ending (skip the rest of this paragraph if you haven’t seen the film!): why fly in the face of common sense and reject Alex’s offer? I submit that Olivia’s decision is what makes her film uncommon. Olivia is a cautious creature, as compact and self-contained as a clam; she has to be —  she’s doubly vulnerable, to both ICE agents and homophobes. Relinquishing control to Alex is a huge step, and she probably mistrusts the feelings of affection and sexual attraction that accompany the decision. Not as if Alex is all that reliable — he still drinks, lost his job at one point because of his drinking, and did steal her passport. He later gets his job back and gives her back her passport, but that’s the beauty of Ms. Sandoval’s approach: she’s not looking to build easy heroes or villains (even Alex’s hardass uncle betrays a more trusting side) but complex people with sometimes mysterious reasons for doing what they do. The film ends in a rhymed scene, of Olga back at her kitchen table with yet another orange, looking around dumbfounded, then dialing the wall-mounted telephone — is she calling Olivia again? Is Olivia still the caregiver and does she still maintain contact with Alex —  are they still perhaps lovers? It may have been romantic folly for Olivia to accept Alex’s offer but it may also be equally romantic folly for Olivia to insist on completely cutting off all ties with the family; she may or may not feel she can afford the uncertainty, along with all the other ambiguities in her life — it’s really her choice.

PH Resorts inks letter of intent with Japanese junket operator

PH RESORTS Group Holdings, Inc. has signed a letter of intent (LOI) with potential junket operator ASKI Japan Ltd. for the company’s integrated resort Emerald Bay, which is located in Mactan, Cebu.

“We are very excited to get ASKI as a potential partner in the junket and VIP segment of Emerald Bay,” said PH Resorts Chief Operating Officer Jose Angel Sueiro in a statement on Thursday.

ASKI Japan, an affiliate of Global Mix Corp., is a junket and VIP gaming services provider for Japanese players in Asia, with Korea’s Paradise Casino Busan and two Friday Club resorts in Entertainment City in the Philippines included in its clientele.

ASKI Japan’s Chief Executive Officer Nobuhiro Imigi signed the document on behalf of the firm and said he looks forward to the post-pandemic recovery of the tourism and gaming industry.

“Our players are always looking for new and fun gaming destinations and Emerald Bay fits the bill with its convenient location just a few minutes from the airport and with a long and beautiful beachfront feature,” Mr. Imigi added.

The company’s Emerald Bay project in Mactan is still under construction.

It will feature 122 gaming tables for mass, premium mass, and junkets, 600 electronic gaming machines, and 270 hotel room bays.

Shares on PH Resorts Group at the stock exchange closed unchanged on Thursday at P1.93 each. — Keren Concepcion G. Valmonte

Thai superstars are the faces of TNT’s latest campaign

PREPAID brand TNT has signed three of Thailand’s most popular actors — Nonkul Chanon (Bad Genius), Gulf Kanawut (TharnType: The Series), and Thai superstar Mario Maurer (Love of Siam, Crazy Little Thing Called Love, Pee Mak) — as its new ambassadors of the “Kilig Saya” campaign, along with Filipino stars Sue Ramirez and Sarah Geronimo.

TNT’s move comes as more Thai series and films are becoming more popular in the Philippines — the so-called “Thai Invasion,” a term used to describe the phenomenon of Thailand’s growing prominence in the international pop culture scene.

“Filipinos and Thais have always had mutual appreciation for each other’s wealth of entertainment content, but we’ve seen this grow even bigger recently as more Filipinos enjoy easy access to streaming platforms and social media through TNT’s value-packed promos,” Jane J. Basas, SVP and Head of Consumer Wireless Business at Smart, said in a statement.

“As TNT enables Filipinos to follow their favorite Thai superstars Mario Maurer, Gulf Kanawut, and Nonkul Chanon on their smartphone, we’re now bringing these Thai actors even closer to them as the newest TNT KaTropas in our latest campaign,” she added.

Nonkul Chanon is best known for the film Bad Genius, which became the highest-grossing Thai film of 2017. Gulf Kanawut is best known for TharnType The Series, an adaptation of a popular Thai web novel. Mario Maurer is best known for his lead roles in the 2007 film Love of Siam and the romantic comedy Crazy Little Thing Called Love from 2010.

For more information, visit https://tntph.com/ and www.facebook.com/TNTph/.

Metrobank eyes P10B from 5.25-year bonds

BW FILE PHOTO
METROPOLITAN Bank & Trust Co. is looking to raise at least P10 billion from its offer of 5.25-year bonds which started on Thursday. — BW FILE PHOTO

METROPOLITAN BANK & Trust. Co. (Metrobank) wants to raise P10 billion via a bond offering to boost its capital and funding sources.

The peso-denominated papers will have a tenor of 5.25 years, the Ty-led lender said in a disclosure on Thursday. These bonds will have a fixed rate of 3.6% per annum that will be payable quarterly.

“Proceeds will be used for general working capital needs and diversification of the bank’s funding sources,” Metrobank said.

The lender began the offering yesterday, with the period set to run until May 24. The minimum investment for the bonds is at P500,000 and in additional increments of P100,000 thereafter.

Metrobank said they have the option to upsize the offer beyond the P10-billion plan.

First Metro Investment Corp. (FMIC) and The Hongkong and Shanghai Banking Corp. (HSBC) are the joint lead managers and joint bookrunners for the transaction, while FMIC, HSBC, and Metrobank will be selling agents for the bonds.

The bank targets to issue and list the bonds on the Philippine Dealing Exchange on June 4.

The bank said it has raised P81 billion from peso bonds since November 2018.

Meanwhile, in July 2020, Metrobank sold $500 million in 5.5-year dollar denominated notes to finance its short-term borrowings.

Metrobank’s net income increased by 27.1% to P7.83 billion in the first quarter, backed by strong non-interest earnings and stable asset quality.

Its shares ended trading at P44.50 apiece on Thursday, down by 25 centavos or by 0.56%. — L.W.T. Noble

ICTSI profit up 51% as volume, revenue rise

LISTED International Container Terminal Services, Inc. (ICTSI) announced on Thursday a 51% increase in its attributable net income for the first three months of the year, owing to the improvements in its terminals and “significant” contributions from new shipping lines and services.

ICTSI’s net income attributable to equity holders for the first quarter reached $90.1 million, up from $59.6 million in the same period in 2020, the listed company said in an e-mailed statement.

The company saw its gross revenues increase 16% to $435 million in the first quarter from $375.8 million in the same period a year ago.

“ICTSI has delivered strong operating performance in the first quarter of 2021, with volume, revenue and earnings rising across our three regions: Asia, the Americas, and Europe, Middle East, and Africa,” ICTSI Chairman and President Enrique K. Razon, Jr. said.

The company’s EBITDA (earnings before interest, taxes, depreciation, and amortization) went up 25% to $264.8 million

It registered an equity in net gain of joint ventures of $42,000 in the first quarter in contrast to the $5.5-million equity in net loss for the same period in 2020.

The improvement was due to the company’s higher share in net earnings with respect to Manila North Harbour Port, Inc. (MNHPI) as a result mainly of the impact of Corporate Recovery and Tax Incentives for Enterprises (CREATE) on the deferred tax liabilities associated to the acquisition of MNHPI.

The company also pointed to its lower share in net loss at Sociedad Puerto Industrial Aguadulce S.A., its joint venture container terminal project with PSA International Pte Ltd. in Buenaventura, Colombia.

ICTSI handled 2.71 million twenty-foot equivalent units (TEUs) in the first quarter, 8% higher than the 2.51 million TEUs handled in the same period a year earlier.

The increase was “primarily due to improvement in trade activities as economies recover from the impact of the pandemic and new shipping lines and services at the company’s operations overseas,” it noted.

ICTSI shares closed flat at P128.50 apiece on Thursday. — Arjay L. Balinbin

LeBron James ‘Chosen One’ jersey, Maradona boots head to auction 

LOS ANGELES — A high-school basketball jersey worn by LeBron James on a famous Sports Illustrated cover will go up for auction in July among 500 other pieces of sports memorabilia, Julien’s Auctions said on Wednesday. Mr. James was 17 when he wore the St. Vincent-St. Mary High School jersey on a 2002 cover of Sports Illustrated magazine under the title “The Chosen One.” He soon went straight from the school to become the first overall pick in the National Basketball Association (NBA) draft and has won four NBA championships. The green-and-white jersey is expected to sell for between $400,000 and $600,000, according to estimates from the auction house. The auction will take place live in Beverly Hills on July 17 and 18. Bidders can also participate online. Other items that will be offered include boots signed and worn by late Argentine soccer superstar Diego Maradona during his 1983-84 season with Barcelona, and a jersey he wore during a 1990 World Cup match against Brazil. The items are expected to fetch between $40,000 and $60,000 each. Maradona died in November at age 60. The auction also includes a Michael Jordan NBA rookie trading card, jerseys worn by the late NBA player Kobe Bryant and a golf glove signed and worn by Tiger Woods. The items will go on display at a public exhibition in Beverly Hills from July 12 to July 16. — Reuters

Asian Development Bank’s net allocable income hits $1.13 billion

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THE ASIAN Development Bank’s (ADB) board of governors agreed on Wednesday to allocate a record high of $1.13 billion in the net allocable income booked in 2020 to support the bank’s operations.

The 2020 net allocable income increased by $62.5 million from the 2019 level on the back of higher profit from equity investments and sovereign lending operations, the ADB said in a statement on Wednesday.

Of the total, 65% or $734.3 million was set aside for the ordinary reserve that will support the bank’s capital adequacy and provide an earnings base to generate net income.

Meanwhile, around 26% or $292.4 million will go to the Asian Development Fund, a facility that provides grants to ADB’s low-income developing member countries, while 8% or $90 million will be for the Technical Assistance Special Fund. This provides a steady stream of funds for ADB’s technical assistance to countries.

The remaining $15 million will be for the Asia Pacific Disaster Response Fund, a source of urgent funding for its member countries that have been severely hit by natural disasters.

During the last day of the multilateral bank’s 54th annual meeting, ADB President Masatsugu Asakawa laid out a five-point agenda for the Asia and the Pacific region to achieve a “lasting and equitable recovery.”

This involves measures focused on climate change, inequality, green infrastructure, regional cooperation and improved resource mobilization.

“Even as the COVID-19 (coronavirus disease 2019) pandemic took hold across the region, ADB did not lose sight of key long-term development agenda,” Mr. Asakawa said.

He said countries should include climate change, especially adaptation and resilience, in their development plans, while keeping their commitments to the Paris Agreement.

The region should also continue to address inequality through bigger investments in health, education and social protection after the coronavirus pandemic disproportionately affected the poor, he said.

At the same time, building green and digital infrastructure should be prioritized to create smart communities, attract more investments, and close the digital divide.

Deeper regional cooperation and integration in Asia and the Pacific is also crucial for developing countries so they can tap emerging opportunities amid renewed globalization.

Lastly, Mr. Asakawa said countries should continue to work on building their capacity to raise revenues to ensure they have enough resources to support sustainable growth and to respond more effectively in times of crises.

ADB’s lending hit an all-time high of $31.6 billion last year, half of which went to finance the pandemic response of countries.

“We will continue to deliver ADB’s unique synergy of finance, knowledge, and partnerships. And we will prioritize the quality of our assistance over quantity, meeting near-term needs with a clear vision for the future. If we stay on this course, I am confident the region will emerge from the current crisis even stronger than before,” Mr. Asakawa said. — B.M. Laforga

Globe to launch 5G roaming in Italy, more locations in North America

GLOBE Telecom, Inc. announced on Thursday that it would roll out fifth-generation (5G) roaming services in Italy and more locations in North America in the second quarter.

“As of April 30, Globe has already rolled out 5G roaming in the following European locations in partnership with Telia Company: Denmark, Estonia, Finland, Norway, and Sweden,” the Ayala-led telco said in an e-mailed statement.

“Globe roamers in Italy will also experience 5G technology by June 3 via Telecom Italia,” it added.

The company also targets to “announce more locations” in North America, in partnership with AT&T, within the second quarter.

The expansion of 5G roaming services into more countries is being done in preparation for the return of global travel.

“Despite the setback in both business and leisure travels caused by the global pandemic, we are firm in our vision for our customers to readily experience the power of 5G technology once the world is open and safe for traveling,” said Coco Domingo, Globe vice president for Postpaid and International.

Globe said its 5G network is currently available in 16 countries: Kuwait and Qatar through Ooredoo; Saudi Arabia through STC; Taiwan through Taiwan Mobile; Thailand through AIS Thailand; United Arab Emirates through Du and Etisalat; Hong Kong through CSL; South Korea through SK Telecom; Singapore through Singtel; Turkey through Turkcell; Oman through Omantel; and Finland, Denmark, Sweden, Norway and Estonia via the Telia Company. — Arjay L. Balinbin

Last Debenhams to close on May 15

LONDON —  British department store retailer Debenhams will permanently close its remaining stores on May 15, bringing the curtain down on 242 years of trading. Debenhams, founded in London in 1778, started a liquidation process in December, dealing a hammer blow to Britain’s retail sector.  While it has struggled for years, the impact of COVID-19 lockdowns pushed it over the edge. Having already announced 52 store closures up to May 8, Debenhams said on Wednesday its remaining 49 stores would close on either May 12 or May 15.  Debenhams has been holding closing down sales, offering up to 80% off fashion and homewares. “Over the next 10 days, Debenhams will close its doors on the high street for the final time in its 242 year history,” Debenhams said. “We hope to see you all one last time in stores before we say a final goodbye to the UK high street.” While Debenhams physical presence in the UK will die, the brand will live on. In January, online fashion retailer Boohoo purchased the Debenhams brand out of administration for 55 million pounds. — Reuters

Credit Suisse Group boosts hiring across Asia-Pacific to tap fast-growing markets

CREDIT SUISSE Group AG has boosted its headcount by more than 100 across Asia-Pacific this year as the Swiss lender seeks to increase the share of revenue it draws from the region’s fast-growing markets.

Almost half of the net hires were done since mid-March, according to people familiar the matter, a period during which the bank has grappled with the fallout from its ties to collapsed family office Archegos Capital Management and supply chain financier Greensill Capital. The number excludes its India operations and information-technology center, the people said, asking not to be named discussing hiring.

Chief Executive Thomas Gottstein has said growth in Asia-Pacific was strong during a quarter when the lender was pushed into the red by a $4.7 billion hit from the Archegos debacle, which also prompted the ouster of a string of senior executives. Pretax income from the region more than doubled to $577 million.

Recent additions at its investment bank include Dragi Ristevski, who joined from Citigroup, Inc. as Asia-Pacific head of financial sponsors; and Rachel Li, a managing director from Haitong Securities Co. Li will focus on new economy and telecommunication, media and technology coverage in China, the people said.

Credit Suisse has also lost some staff in an increasingly heated search for talent. LGT Private Banking recently poached a senior private banker in Tokyo to spearhead a new operation in Japan. He’s among several former Credit Suisse staff who have joined or are in the process of joining LGT, the people familiar said last month.

Those departures came after Russ McFarland, a desk head for Credit Suisse in Tokyo, left to join Bank of America Corp.

A Hong Kong-based spokeswoman at declined to comment.

Credit Suisse has previously outlined plans to triple its headcount in mainland China, joining other banks in a push as the nation opens its $53 trillion financial market.

It targets raising the Asian share of its total revenue to 25% from about 20%, people familiar said last year. Much of the expansion will be focused on advisory and investment banking services for the ballooning ranks of China’s rich.

In its wealth business, recent additions include Ray Chun from Citigroup, Inc. in Hong Kong, the people said. Also hired were Klara Chan, formerly at JPMorgan Chase & Co., and Arleen Sy from HSBC Holdings Plc in Hong Kong, according to an internal memo obtained by Bloomberg News and confirmed by a spokeswoman.

The bank recently promoted Dominique Boer to market group head Singapore in private banking, according to the memo.

The bank has reported a net hiring of 30 relationship managers in the first quarter for Asia. — Bloomberg