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Holcim sets health controls ahead of operations

HOLCIM Philippines, Inc. has put in place health and safety controls, including social distancing in all its sites, as the listed cement maker prepares to resume operations with the government’s easing of enhanced community quarantine measures.

In a statement on Wednesday, Holcim Philippines President and Chief Executive Officer John Stull said he was confident that the company’s health and safety culture and well-thought-out plans would enable it to protect people from the coronavirus disease 2019 (COVID-19) when operations resume.

“In Lugait, Misamis Oriental our plant continues to run without any COVID-related incident further proving that our strength in Health and Safety enables us to properly manage these risks. Lugait also provides a model on how we can protect the well-being of people when we restart operations of our other sites,” he said.

The company’s Initiatives draw from best practices across the LafargeHolcim Group and focus on social distancing, personal hygiene and health checks.

The company closed sites and facilities in Luzon in compliance with the government directive of an enhanced community quarantine on March 16, 2020. It also shut down its plant in Davao City after a similar action by the local government on April 2 this year.

Holcim Philippines’ lean workforce in all its sites has installed markers to guide people in staying two meters apart and built hand washing stations. It continues to share information with employees and partners on COVID-19 for them to be mindful of protecting themselves.

Mr. Stull said the company would continue to strictly adhere to the guidance of health authorities and be ready to share best practices to partners, industry groups, and government agencies to help in the safe resumption of business activities.

Holcim Philippines said it had shifted its corporate citizenship budget to provide medical supplies to hospitals treating coronavirus patients and food and hygiene products to communities hosting its facilities in La Union, Bulacan, Manila, Batangas, Iloilo, Misamis Oriental and Davao City.

It said around 1,500 families and government frontline workers had benefited from the first batch of relief operations as of April 14.

Maynilad turns over 100 isolation tents

MAYNILAD Water Services, Inc. has handed over 100 isolation tents and hygiene kits to an alumni association of the University of the Philippines that is setting up a 100-bed quarantine facility for coronavirus disease 2019 (COVID-19) patients.

In a statement, west zone water concessionaire Maynilad said its P1.7-million worth of donations for the quarantine facility in the UP Diliman gymnasium is in support of the “Act as One Ph” initiative started by members of the UP Alpha Sigma Fraternity Alumni Association on March 26.

The initiative has so far provided assistance to almost 100 hospitals through donations of personal protective equipment, supplies, medical equipment, and food. The group has put up five frontliner shelters and quarantine facilities, including the new one in UP Diliman.

“As our country continues to battle this pandemic, we will continue to provide whatever assistance we can extend, to help reinforce the government’s COVID-19 relief efforts,” said Maynilad, a member of the group led by Manuel V. Pangilinan (MVP).

PLDT Inc. and Smart Communications, Inc. of the MVP group also contributed to the donation drive by providing new cell phones for use in the operations of the new quarantine facility in the UP gymnasium.

Among the donated items are shower and toilet facilities, beddings, mattresses, and water dispensers.

PHL banks to see credit losses due to coronavirus pandemic

PEOPLE transact at a bank in Makati, Philippines. — BW FILE PHOTO

PHILIPPINE BANKS may see loan losses of up to P100 billion in 2020 due to the financial impact of the coronavirus disease 2019 (COVID-19), according to S&P Global Ratings.

“For full year 2020, we estimate credit losses to rise threefold, by P100 billion, equal to 1.3% of banking sector loans,” it said in a report on Wednesday.

This year, banks will witness low single-digit growth, rising bad loans and credit costs and lower profitability as the country could go into recession due to the pandemic, S&P said.

“The effect on individual banks in the coming quarters will be uneven, largely hinging on whether lenders adopt relaxed accounting and provisioning standards,” S&P Global Ratings credit analyst Nikita Anand said.

The report said loan demand may be buoyed by the corporate sector which needs a liquidity boost during this period.

Amid the current situation, the asset quality of banks will be dependent on the performance of the corporate sector as it accounts for 82% of their total loan portfolio.

“Large conglomerates with their strong business profiles, diversified revenue streams and solid liquidity buffers will likely come through the challenging operating conditions intact,” S&P said.

“Micro, small, and midsize enterprises (7% of the banking sector’s books) and leveraged corporates may face challenges,” it added.

S&P also flagged that lenders’ exposure to sectors like hotels and catering (2% of bank lending), wholesale and retail trade (12%), transportation (3%) and manufacturing (10%) will be particularly high risk. Credit cards and unsecured personal loans from the retail segment are also likely to see higher default rates, it added.

“Secured retail loans such as mortgages and auto loans will not likely be in the first wave of nonperforming assets, but will see some stress as unemployment rises,” S&P said.

The firm noted that the country’s local banks are equipped with “good financial buffers and are entering the crisis “from a position of strength,” thanks to a 14% Tier 1 industry ratio and higher loan loss provisioning, which is seen to help mitigate rising risks in their operating environment.

The Bangko Sentral ng Pilipinas has already implemented an array of regulatory relief measures for the banking industry amid this crisis, including the staggered booking of allowance for credit losses, ditching penalties on legal reserve deficiencies and expanding the single borrower’s limit, among others.

Earlier this week, the central bank has also allowed banks to tap the excess capital from their Basel-III mandated buffers to mitigate the impact of the situation on their operations. — L.W.T. Noble

Apple to hold annual developers event online from June 22

APPLE Inc. said on Tuesday its annual developers conference will start on June 22 and attendees would be able to stream the event for free on its developer app or website.

The company in March decided to make the conference, which is usually held in San Jose, California and attracts more than 5,000 attendees, an online-only event due to the coronavirus outbreak.

Technology giants Facebook Inc., Microsoft Corp. and Alphabet Inc.’s Google have also canceled or moved their software developer conferences online due to the pandemic. — Reuters

Treats, sweets, and promos for Mother’s Day

MOTHER’S Day falls on Sunday, May 10 and just because most of the archipelago is under some form of quarantine, that does not mean skipping out on celebrating the day. Especially now with everyone stuck at home and getting a bird’s eye view of what she has to do every single day, ECQ (enhanced community quarantine) or no ECQ. We owe her and all other mothers a lot.

Aside from Zoom visits and handmade cards from the kids and grandkids, here are some treats to arrange as a way to say thank you.

SWEETS AND TREATS
How about ordering sweets from The Peninsula Manila for Mother’s Day? A six-piece chocolate heart box (P750) or a whole raspberry chocolate cake (P2,100) are a couple of special options. Other bakery items and pastries available include Pen Stones, macarons, and pralines, quiches, sourdough loaf, ham and cheese croissants, ensaimada (both ube and ham), and whole cakes (P2,100) including eight-inch cheesecakes, a Decadent moist chocolate cake, and a King Oscar cake, among others. They are now available for delivery and takeout from 9 a.m. to 5 p.m. daily. Cut-off time for delivery orders is at 4 p.m. (orders made after 4 p.m. will only be for pick-up).

If she is more the savory sort of gal, how about some beef short rib kare kare (P2,490), oven baked lasagna (P2,250), or some pancit canton (P1,990) or pancit luglug (P1,190)? Each order serves up to four people. Orders for these dishes must be made 24 hours before delivery or pickup between 9 a.m. and 5 p.m.

Frontliners with valid IDs get a 20% discount on their orders. For every P2,000 single-receipt purchase, a Peninsula Bread of the Month will be donated to a frontliner. Complimentary delivery applies to areas within Makati for a minimum order of P2,000, otherwise a delivery fee of P200 (within Makati) applies. Cash, credit card, and payments via payment links are accepted modes of payment. For takeout, the order pick-up point is The Pen’s employees entrance at the corner of Sto. Tomas St. and Makati Ave., Makati. Call 8887-7547 or e-mail penboutiquepmn@peninsula.com for orders and details.

Meanwhile, Red Ribbon suggests getting her a special cake for the occasion — Black Forest, its Chocolate Dedication Cake, or a Mango Roll. The bakeshop’s Advance Order service is available until May 8 at https://advanceorder.redribbonbakeshop.com.ph. The order can be delivered or picked up before Mother’s Day. For more information, follow Red Ribbon Bakeshop’s official Facebook page or visit its website at www.redribbonbakeshop.com.ph.

Healthy Options Online has come up with thoughtful sets of baking essentials, natural beauty products, and healthy snacks that can be ordered for one’s mother this weekend. Each Mother’s Day Gift Set comes with a freshly baked treat from Baking Therapy. Add a personalized message for your mom to make the gift more special.

Order by Thursday, May 7 and have them delivered by May 10. Deliveries are limited to Metro Manila, Cainta, and Antipolo only.

PROMOS
The Shangri-La Plaza mall is helping everyone celebrate Mother’s Day online with a special promo called “Slay at Home Mom.” From May 6 to 9, the Shang is inviting everyone to come up with appreciation posts about their mothers. The public can post two photos side-by-side, one showing their mother as her usual self at home and another with her all dressed and made up, both accompanied by a note on how much they love their mother and expressing their gratitude for everything she’s done. Tag @shangrilaplazaofficial, keep the post public, and add the hashtags #SlayAtHomeMom and #CelebrateMomAtShang. The three best posts are set to win prizes from Beauty Buffet. Winners will be announced on May 10, and prizes are to be claimed at the Beauty Buffet store once the Shang re-opens. For inquiries, visit www.facebook.com/shangrilaplazaofficial.

Araneta City hosts a series of online activities dedicated to all #HERoesInTheCity through a special Mother’s Day offering on its official Facebook page (https://www.facebook.com/AranetaCity/).

This includes a free, four-part #HERoesInTheCity workshop on Facebook. On Saturday, May 9, physicians will provide useful advice on nutrition and health (2 p.m.) and skin maintenance (5 p.m.). On Sunday, May 10, there will be an online cooking show in partnership with Clara Ole (3 p.m.), and practical insights from “mompreneur” celebrity LJ Moreno (5 p.m.).

Viewers will also get a chance to win free grocery packs via an online raffle. To join they should watch the Facebook video workshops, and tag three friends who are mothers in the comments section to be part of the raffle.

There will also be other promos and games lined up for Mother’s Day on Araneta City’s Facebook page.

Mobile services provider Smart Communications, Inc. is celebrating Mother’s Day through its Signature Sale on the Smart Online Store (www.store.smart.com.ph) from May 6 to 15. The sale (www.smrt.ph/moveoutsale) offers a wide range of gift options including exclusive freebies and discounts of up to 50% off on select Apple, Huawei, Samsung, and OPPO devices.

Smart subscribers can get discounts of up to 50% discount on the iPhone XS, iPhone 6s Plus, iPad 6, and, which they can use to enjoy the latest Apple TV+ shows or Apple Arcade games.

The sale also offers the Huawei Mate20 Pro with a free Huawei Watch GT (worth P12,990) and Huawei AM61 BT Sport Headset (worth P1,540). Smart subscribers can also get the Huawei P20 Pro which comes with free Huawei Freebuds Lite (worth P4,990) and a Huawei M2 Speaker (worth P2,990); while the Huawei P20 comes with free Huawei Freebuds Lite.

The sale also offers the Samsung Galaxy S10+ with a free Samsung Galaxy Tab A 8.0 (worth P7,990). During this period, the Samsung Galaxy S10 comes with free Galaxy Buds (P6,990) and the Samsung Galaxy S10e comes with a free Samsung AKG Speaker (worth P4,000).

The OPPO Reno2 Series also comes with a special discount.

Smart subscribers can also get up to 50% off on the iPhone 6s Plus, Samsung Galaxy A10, and Huawei P20 Lite up, which all come with a Smart Prepaid SIM with free 1GB data.

The Smart Signature Sale gives subscribers the chance to help COVID-19 frontliners as a portion of their purchases will go to the PLDT-Smart Foundation, which has been mobilizing efforts to support health workers, emergency response teams, and communities affected by the pandemic. All Smart, TNT, and Sun customers can also donate to the PLDT-Smart Foundation using their prepaid load, or charged to their postpaid account by texting DONATE to 3456. This Text-to-Donate platform accepts donations until July 16.

THE Ortigas Malls finds a way to celebrate Mother’s Day through a series of free online workshops meant for moms — from making DIY beauty essentials to preparing sweet treats and learning the basics of urban gardening — on May 10 from 2 to 5 p.m. at Greenhills’, Tiendesitas’ and Estancia’s Facebook pages.

Nature, Mother Nurture: an online learning session in urban gardening with Jennie Agcaoili of Plant Project PH will be held at 4 p.m., on the Greenhills official Facebook page and #OMSayItAtHome. Meanwhile, learn to make health and beauty essentials at home including a DIY lip scrub and a simple hand sanitizer at 2 p.m. on the official Tiendesitas Facebook. Finally, learn how to make no-bake peanut butter rolls at 4 p.m. on Estancia’s official Facebook page.

Aside from the workshops, Ortigas Malls is also giving away a bouquet of flowers on Mother’s Day to three lucky moms through an online contest. Winners will be announced on May 8. To join, change your profile photo with Ortigas Malls’ Say it at Home Frame, then “like” Greenhills Mall, Estancia at Capitol Commons, and Tiendesitas on Facebook. Comment #OMSayItAtHome down below. Share this post (https://web.facebook.com/EstanciaPH/posts/1569728716529295?_rdc=1&_rdr) on your timeline in “public” status, and write a message to your mom with hashtag #StaySafe #OMSayItAtHome.

To complete the celebration, Ortigas Malls makes it easier to order from your favorite restaurants through their Click & Collect program, available in Estancia, Tiendesitas, and Greenhills from 9 a.m. to 8 p.m. daily. First, check the Ortigas Malls Viber Group (http://tiny.cc/OrtigasMallsViber) to see which merchants offer pick-up services. Contact the merchants, place your orders, pay, and agree on a pickup schedule. Drive to the designated pick-up area to collect your order. For more information, visit the official Facebook pages of Estancia, Tiendesitas, and Greenhills Mall.

As a special gift for moms, Tim Hortons offers its “Sweet Treats for Moms” promo from May 10 to 1. Customers can buy four of the following items and get two of the same kind for free: Chocolate Chunk or Oatmeal Raisin Cookies; and Fruit Explosion or Chocolate Chip Muffins.

Tim Hortons has also launched its Cheesecake Factory 4+2 promo where customers get two slices of Dulce de leche Cheesecake for free if they buy four assorted cake slices of any flavor. Priced at P300 per slice and P4,200 for a whole cake, it comes in different flavors.

To order and know more about their takeout & delivery options, follow Tim Hortons on Facebook at www.facebook.com/TimhortonsPhilippines or visit www.timhortons.ph.

The Mother’s Day promo is available for take out on May 9-11 and delivery via GrabFood and Foodpanda from May 10-11.

Stuff to do at home (05/07/20)

Bayanihan Musikahan

Catch the rerun of #TaumbayanToTheRescue! A Bayanihan Musikahan Special on May 9, 9 p.m., with Filipino musical artists. Bayanihan Musikahan is a fundraising campaign aimed at addressing the needs of communities affected by the COVID-19 crisis. Watch the concert at https://www.facebook.com/bayanihanmusikahan/ To donate, visit https://www.bayanihanmusikahan.org/.

PETA Let’s Get Creative


Catch the PETA’s Let’s Get Creative series with Isprikitik’s Musical Improv class on May 8, 3 p.m., at https://www.facebook.com/PETATHEATER/. Meanwhile, the children’s play Ang Mga Kwento ni Lola Basyang is currently streaming at PETA Theater’s YouTube channel: www.youtube.com/results?search_query=peta+theater+online.

CCP Online

The following shows are premiering online this week: the play Kung Paano Ako Naging Leading Lady, written by Carlo Vergara and directed by Chris Martinez for Virgin Labfest 9, on May 7, 3 p.m., and the concert of actress-singer Bituin Escalante who belts out well-loved Filipino songs in Triple Threats: Everything in Bituin on May 9, 3 p.m. Access the shows through bit.ly/CCPOnlineYT.

Repertory Philippines’ REPisodes

The leading actresses of Repertory Philippines’ REP Theater for Young Audiences are holding a livestream performance in the first installment of “REpisodes” with A Tea Party with Quarantined Princesses on May 7, 4 p.m. Sing along with Shiela Valderrama-Martinez as Cinderella, Becca Coates as Snow White, Mikkie Bradshaw-Volante as Sleeping Beauty, Cara Barredo as Princess Jasmine, Jillian Ita-as as Beauty, and Justine Narciso as Rapunzel. The project is in support of the Open House fundraiser. To watch, visit https://www.facebook.com/repertoryphilippines/. Donate at http://bit.ly/DonateOpenHouse.

National Library of the Philippines

The National Library of the Philippines offers free access to eResources which includes research related to COVID-19. The resources come from the National Emergency Library, Cochrane Library (Medical & Health Science), De Gruyter — Journals (Multidisciplinary), and more. To view access links to eResources, visit https://www.facebook.com/NLP1901/photos/a.375779479606724/912930019224998/?type=3&theater.

Upstart 10 for 10

Upstart Productions presents Upstart 10 for 10, an online mini-concert fundraiser on May 9, 8 p.m., on its Facebook page (https://www.facebook.com/upstartproductionsinc). It will feature the following artists: Topper Fabregas, Rony Fortich, Jenny Jamora, Carla Guevara-Laforteza, Lorenz Martinez, Shiela Valderrama-Martinez, Jill Pena, Felix Rivera, Ice Seguerra, and Reuben Uy. The show is for the benefit of theater professionals affected by the COVID-19 crisis. To donate, visit bit.ly/Upstart10for10.

POC’s Crescendo

Philippine Opera Company presents Crescendo, an online fundraising concert featuring classical music on May 9, 8 p.m. This online concert features some of the country’s top and upcoming classical singers: Alexa Kaufman, Andrea Manuel, Renz Nathaniel Cruz, Lawrence Jatayna, Cloi Sugano, Jack Salud, Jennifer Uy, Miguel Lobato, Stefanie Quintin-Avila, Arthur Espiritu, Andion Fernandez-Ching, and Gerphil Flores. The concert is part of the Open House fundraising campaign for the benefit of displaced performing arts workers who were affected by the ECQ. To donate, visit http://bit.ly/DonateOpenHouse. Watch the concert at https://www.facebook.com/lovephilstage/.

Ang Huling El Bimbo: The Musical online

Full House Theater Company’s Ang Huling El Bimbo: The Musical will be streaming for free on May 8 and 9. The show will be on view for 48 hours. Watch the show at https://www.facebook.com/ABSCBNnetwork/ or at https://www.youtube.com/abs-cbnentertainment.

MegaMoveTunaMax

To keep its promise of encouraging a healthy lifestyle, Mega Tuna launches #MegaMoveTunaMax, a series of Facebook Live events featuring fitness classes. The fitness sessions will run for all Mondays of May via its official Facebook page (https://www.facebook.com/megapuretuna/). Week 1: HIIT; Week 2: Pop Dance (tentative); Week 3: Total Body Workout; and Week 4: Hip Hop Dance (tentative).

Guggenheim artbooks

The Solomon R. Guggenheim Museum offers downloadable items from its archives for free. Titles include modern and contemporary art books about Vincent Van Gogh, Pablo Picasso, Vassily Kandinsky, Gustav Klimt and more. The archive is searchable by artist, year, medium and artistic style or movement. Visit the archives, https://archive.org/details/guggenheimmuseum.

Silverlens Galleries’ At Home With series

To keep in touch with art lovers, Silverlens presents Art Boost, an online drive to maintain engagement with art through social media, exhibition catalogues, and videos. The current At Home With series features Bernardo Pacquing, Hanna Pettyjohn, and Chati Coronel. Revisit contemporary artist Gary-Ross Pastrana’s notes on collage making; and Mit Jai Inn’s use of light, color, and structure in his Actantis exhibit. Visit Silverlens’ official social media accounts and its website (https://www.silverlensgalleries.com/) to view the exhibitions.

BenCab Museum online

Azor Pazcoguin’s solo exhibition, TAYP. RAYT. ER, which features oil paintings of items such as typewriters, phones, cameras, is now online from the BenCab Museum’s Facebook page at www.facebook.com/pg/bencabmuseum/photos/?tab=album&album_id=3024306460961023&__tn__=-UC-R.

BioBalance Wellness consultation

The BioBalance Wellness Institute offers the following services and features: free online consultation with its clinical nutritionist and nurse practitioners, wellness expert psychologist; online health and immunity risk assessment; and more payment options for availed services and products. For more information, contact 0917-521-4860 or concierge@biobalanceinstitute.com.

IkotMNL tour from home

The Museo de Intramuros, Ayala Museum, and Presidential Museum and Library in Malacañang Palace have partnered with Google to put their works online. Learn new things at home and visit the museums through a virtual tour: https://artsandculture.google.com/partner/malacanang-presidential-museum-and-library; https://artsandculture.google.com/partner/ayala-museum; and https://artsandculture.google.com/partner/intramuros-administration.

CAST recordings on Spotify

CAST PH offers CAST Recording, a collection of one act plays, recorded online and released as radio/audio drama. The first recordings are A Matter of Husbands by Ferenc Molnár, featuring Pinky Amador and Giannina Ocampo-Van Hoven; and Enemies by Neith Boyce and Hutchins Hapgood, featuring David Bianco and Jennifer Blair-Bianco. Listen at https://open.spotify.com/show/5bLSOsJPkZnlaEFDfSSHbl?si=fDsW-kNpT6iP89En-dWbog.

National Bookstore delivery

National Book Store has reopened its branch in Cubao, Quezon City and now offers delivery services for its supplies to selected areas around Metro Manila. For orders from Marikina, San Juan, and Quezon City, contact 0917-631-1374; Mandaluyong, Pasig, Pateros, and Taguig contact 0917-834-3224; Caloocan, Manila, Navotas, and Valenzuela, contact 0917-302-7475; Makati, Muntinlupa, Parañaque, Pasay, and Las Piñas, contact 0917-791-0916. Orders are accepted on weekdays from 9 a.m. to 4 p.m.

Film masterclasses

Learn film concepts through interviews and film retrospectives from more than 60 directors, producers, writers, and actors including Bong Joon-Ho, Abbas Kiarostami, Agnès Varda, Spike Lee, Werner Herzog (with Roger Ebert), Jane Campion, Jodie Foster, Todd Haynes, Ang Lee, Jessica Lange, and Clint Eastwood. To watch, visit https://walkerart.org/magazine/series/dialogues-film-retrospectives.

Fully Booked delivery

FULLY BOOKED is back in business for book orders (https://www.fullybookedonline.com/). In a Facebook post, Fully Book stated: “[O]ur Lazada and Shopee stores will be back online, too. Please do expect some delays and changes in our processes.” For advisories, visit bit.ly/fb-ecq-advisory.

English National Ballet shows online

ENGLISH National Ballet launched ENB at Home, releasing one show weekly for its Wednesday Watch Parties. The first in the lineup is Broken Wings, a Frida Kahlo-inspired production starring lead principal and ENB artistic director Tamara Rojo as Frida. It is available to stream for free for 48 hours. Watch at https://www.youtube.com/user/enballet or https://www.facebook.com/EnglishNationalBallet/.

The Royal House shows online

THE Royal House in London launched its #OurHouseToYourHouse series where shows can be streamed through its official Facebook page https://www.facebook.com/royaloperahouse/. Watch Arthur Pita’s dance-theater adaptation of Franz Kafka’s Metamorphosis at https://www.facebook.com/royaloperahouse/videos/217068512883588.

Radiohead Concerts

BRITISH rock band Radiohead has been uploading some of its concerts via its official YouTube page (https://www.youtube.com/user/radiohead). Fans of the Rock and Roll Hall of Fame band, known for songs like “Creep” (1992) and “Fake Plastic Trees” (1995), can watch the concerts Live from a Tent in Dublin (2000) and Live in Berlin (2006).

David Guetta: United at Home

FRENCH DJ David Guetta, the man behind the song “Titanium” (2011) featuring singer SIA, held a live concert fundraiser inside his Miami home benefitting the World Health Organization and other charities. The two-hour concert is currently available on his YouTube page (https://www.youtube.com/user/davidguettavevo).

Josh Groban concerts

JOSH Groban brings his concerts to your home via online, streaming every Thursday on YouTube (https://www.youtube.com/user/joshgroban). The second concert in the series, Stages: Live (2016), premiered on April 30. The singer has also includes commentary throughout each film. For more information, visit https://www.facebook.com/JoshGroban/.

Worldwide Concert for Our Culture

JAZZ at Lincoln Center’s annual Spring Gala: Worldwide Concert for Our Culture is now available to stream online. The honorees of the event are Clarence Otis and Jacqueline L. Bradley (Ed Bradley Award for Leadership in Jazz) and Phil Schaap (Jazz at Lincoln Center Award for Artistic Excellence). Performers at the gala include: Wynton Marsalis, Cecile McLorin Salvant and Sullivan Fortner, Chucho Valdes, Nduduzo Makhathini, and Baqir Abbas. For more information, visit jazz.org/gala2020. Watch on YouTube: https://youtu.be/IjJbZetCvGw.

Dior’s Designer of Dreams exhibition

DIOR’S exhibition titled Christian Dior: Designer of Dreams is now available to view online. Originally held at Paris’ Musée des Arts Décoratifs from 2017 to 2018, the exhibition traces the evolution of the house of Dior from post-war Paris to the present through a behind-the-scenes in-the-making of the exhibition, plus a virtual tour of its rooms. Visit Dior’s YouTube channel to watch the documentary (https://www.youtube.com/watch?time_continue=1521&v=FLWDWzMrkBE&feature=emb_title).

Frank Lloyd Wright virtual tours

THE Frank Lloyd Wright Building Conservancy, in partnership with the Frank Lloyd Wright Foundation and Unity Temple Restoration Foundation is offering #WrightVirtualVisits every Thursdays (1 p.m. Eastern/10 a.m. Pacific time) in participating sites. Check the participating sites at https://savewright.org/news/public-wright-sites-swap-virtual-visits/.

Movie night with Jamie Lee Curtis

EVERY Saturday (in the Philippines) until May 8, Lionsgate and Fandango’s Movie Clips YouTube channels will be streaming films. On May 2, watch La La Land (2016) by Damien Chazelle, and John Wick (2014) by Chad Stahelski. Aside from the screening, Ms. Lee Curtis will also engage with the online audience via real-time chats and movie trivia.

Color Tolkien characters

THE official Facebook page of the late author J.R.R. Tolkien has uploaded an illustration of Smaug the Magnificent from The Hobbit Movie Trilogy Colouring Book. Download the coloring sheet at https://bit.ly/2wKY3lp.

MoMA free courses online

After offering virtual tours, the Museum of Modern Art (MoMA) is now offering free online courses. The courses include a series of five free classes for contemporary art, fashion, and photography. It includes readings and exercises which can be completed within 12 to 38 hours. For details, visit https://www.coursera.org/moma.

Print & Play activities for kids

Keep kids entertained with new curated Print & Play activities from HP. The activities from craft making, mazes, dot-to-dot drawing and puzzles are suitable for ages 2 to 12. With HP Print & Play, parents can choose from a range of activities that are best suited to their children’s needs to achieve the best possible learning outcomes. To try the activities, visit https://www8.hp.com/ph/en/printers/printandplay/index.html?jumpid=va_u19mhncewr.

Harry Potter exhibit online

The British Library’s Harry Potter: A History of Magic exhibition is available online through Google Arts and Culture. Its features include video clips and sketches, a Q&A with exhibit curator Julian Harrison. To view, visit https://artsandculture.google.com/project/harry-potter-a-history-of-magic.

The Nanny’s Pandemic Table Read

The cast of the ‘90s comedy sitcom The Nanny reunites for The Pandemic Table Read of the show’s pilot episode. It stars Fran Drescher as Fran Fine who finds a job as a nanny to the three children of wealthy widower and theater producer Maxwell Sheffield (played by Charles Shaughnessy). To watch, visit Sony Pictures Entertainment’s YouTube channel at https://www.youtube.com/watch?v=C3a6KuP1X14&feature=youtu.be&fbclid=IwAR1eEwvK0A7lrLMnt2GTXBPoDR7y8_Q5TXMexTLIo9es9Gei4W1Yi-asITM.

Science experiments at home

Enjoy 44 science experiments with the kids at home with the James Dyson Foundation Challenge cards. To download the challenge cards, visit https://www.jamesdysonfoundation.co.uk/resources/challenge-cards.html.

Hogwarts online

Hogwarts Is Here, an online version of the Harry Potter series’ magical school by Harry Potter fans that allows visitors to take courses like the characters from J.K. Rowling’s book series. Various courses include Astronomy, Herbology, History of Magic, and Transfiguration. The website also includes a forum, groups, and library feature. Visit http://www.hogwartsishere.com/.

Color Manolo Blahnik designs

Manolo Blahnik shares a selection of his original sketches for coloring. The shoe designs are downloadable at https://www.manoloblahnik.com/gb/smile.html.

Podcasts on Philippine crime

Stories After Dark features podcasts on Philippine true crime and mystery stories. It currently has 14 episodes including The Maguindanao Massacre (2009), The Ozone Disco Fire (1996), and Pepsi Paloma: Rape or Publicity Stunt? Suicide or Murder? (1982/1985). To listen, visit https://www.facebook.com/storiesafterdarkph/.

Palacio de Memoria virtual tour

Art and history enthusiasts can now go on a virtual tour of Palacio de Memoria, the resplendent Colonial Revival mansion, and marvel at its luxurious facilities and hundreds of Euro-Filipino paintings, sculptures, art displays, and historical pieces online. It features the showroom of Palacio de Memoria’s auction house, Casa de Memoria or the Casa, which houses the Lhuilliers’ unrivalled collection of antiques, the Mosphil Lounge, and a passenger plane that that was refitted to be a lounge for special occasions. To view the complete Palacio de Memoria’s virtual tour, visit https://www.palaciodememoria.com/tours. For more updates, follow @thepalaciodememoria on Facebook and @palacio.de.memoria on Instagram.

E-coloring books

The Getty Museum and the Getty Research Institute of Los Angeles offers the Color Our Collections edition for 2020. To view, visit http://library.nyam.org/colorourcollections/page/11/.

Nestlé joins Red Cross in COVID-19 efforts

NESTLÉ Philippines, Inc. has turned over to the Philippine Red Cross (PRC) P10 million to help the institution in the government’s efforts to provide for people in need of health care.

“The Nestlé purpose is enhancing quality of life and contributing to a healthier future. Our first priority is the welfare of people, families, and communities. Therefore, it is only fitting for us to extend support to the Philippine Red Cross, as we have done time and again in the past,” said Kais Marzouki, the company’s chairman and chief executive officer.

The company said the donation is part of its program called Kasambuhay ng Pamilyang Pilipino to address COVID-19. It said the program includes assisting one million families and thousands of frontline workers, as well as its own employees and those of its business partners.

The company quoted Sen. Richard J. Gordon, PRC chairman and CEO, as saying: “The partnership with Nestle shows great corporate social responsibility at the height of our country’s fight against our invisible enemy, COVID-19.”

Citing Mr. Gordon, Nestlé Philippines said the PRC has two COVID-19 operating laboratories, located in its national headquarters and its multi-purpose center in Mandaluyong City, and expects to have three more laboratories up and running within two to three weeks.

It said the capabilities of the PRC will make it possible to test 2% of Metro Manila’s population of 12 million.

Yields on seven-day term deposits slip further

YIELDS ON the central bank’s term deposit facility (TDF) continued to slip amid higher bids and after slower inflation in April.

Total tenders for the seven-day term deposits of the Bangko Sentral ng Pilipinas (BSP) hit P181.221 billion on Wednesday, more than double the P70 billion auctioned off and also beating the P137.159 billion in bids logged last week for a P50-billion offer.

Yields sought by banks on the one-week papers came in at 2.25% to 2.29%, a slimmer band compared to the 2.25% to 2.375% range logged on April 29. This caused the average rate to settle at 2.2654%, down by 4.79 basis points (bps) from the 2.3133% fetched a week ago.

“The results in the TDF auction continue to indicate strong market interest for the BSP’s deposit facilities, supported by ample liquidity in the financial system,” BSP Deputy Governor Francisco G. Dakila, Jr. said in a statement.

The TDF is the central bank’s primary tool to shore up excess liquidity in the financial system and to better guide market interest rates.

Auctions for term deposits with longer tenors of 14 and 28 days have been suspended for nearly two months already since the BSP suspended TDF offerings at the onset of the enhanced community quarantine (ECQ) in Luzon in March to support the banking system.

The EQQ was extended until end-April, with some parts of Luzon, including Metro Manila, still under ECQ until May 15, while some have since transitioned to general community quarantine (GCQ).

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said investors have been more prudent in spending and are parking their money in safer havens, which have led to higher bids and lower yields for the central bank’s TDF.

“The continued decline in the auction yield came as more businesses have been more conservative with more cash holdings amid the lockdowns, thereby making the TDF a source of relatively higher interest rate returns for excess cash holdings,” Mr. Ricafort said in a text message.

He added that yields went down due to slower inflation in April.

“The TDF yield continued to decline amid the latest easing of the inflation rate to a 5-month low of 2.2% in April 2020,” he said.

Headline inflation in April slowed from the 2.5% print in March as well as the three percent seen in the same month of 2019.

The April print was within the 1.9%-2.7% forecast range given by the BSP Department of Economic Research for the month. A BusinessWorld poll of 13 economists yielded a 2.1% median estimate for last month’s inflation.

Year to date, inflation averaged at 2.6%, still within the BSP’s 2%-4% target band and above the revised two-percent forecast for the entire 2020.

Data from the Philippine Statistics Authority showed that the decline in transport prices caused by the drop in oil prices as well as the deceleration of nonfood commodities offset faster price uptick in food and non-alcoholic beverages.

BSP Governor Benjamin E. Diokno on Tuesday said the central bank “stands ready to deploy any available measures in its toolkit as we continue to assess the impact of coronavirus pandemic on the domestic economy.” — L.W.T. Noble

Microsoft to pitch new Xbox game console, services with monthly showcases

MICROSOFT CORP., gearing up for its biggest-ever year of launches for Xbox products and services in the middle of a global pandemic and economic recession, will replace its plan for a splashy public game-conference event with a monthly series of online showcases.

The virtual events start on May 7, with a look at third-party games planned for its new console, called Xbox Series X. In June, the company will highlight the Xbox platform and services, and July’s session is intended to cover games produced by Microsoft’s own 15 game studios, including the next iteration of its biggest franchise, Halo. The Redmond, Washington-based company had originally planned to unveil many of the details about the new products next month at the E3 conference, which has been canceled.

Gaming audiences “love the authenticity of us showing up in our sweatpants here in our home office and talking about what we are doing,” Xbox chief Phil Spencer said in an interview. This also seemed like a good time to eschew the typically flashy, celebrity-studded events the video-game industry is known for, he said. “We can all look at the unemployment numbers right now. We can also understand we’re in video games, while we have front-line medical workers out there that are keeping people alive.”

Microsoft is set to release the new console for the holiday season, and is planning its first game-streaming service, called xCloud, for later this year. Shifting events online and toning them down aren’t the only changes possible because of the COVID-19 virus that has disrupted workplaces and production schedules, as well as the global economy. While Chief Financial Officer Amy Hood said last week the console launch is “on track” and device manufacturing in China is returning to normal, there may be delays in some outside developers’ games for the new device, Mr. Spencer said.

Microsoft has taken steps to make it easier for third-party game developers to work from home. For example, Microsoft gives these teams specialized development kits that let them simulate the environment of the unreleased next-generation console so they can build games for it. Normally those kits are closely guarded and have to stay in the office, but now the company is letting them be used from developers’ homes.

A lot depends on how far along in development games were when their studios were forced to move to remote work. Programming and some other tasks can be done from home offices, while complicated motion-capture of animation used for games is harder to do on the computing rigs most people keep at home. “That’s just not happening right now,” Mr. Spencer said.

“In terms of timelines, we’re finding now that game production is in some ways more challenging than hardware production,” he said. “You have one hardware timeline and then you’ve got all these games.”

Already some developers have announced delays for games intended to arrive this spring. Microsoft shifted Minecraft Dungeons to May from last month, and CD Projekt Red moved a game to September from April. Some games for Sony Corp.’s PlayStation, including The Last of Us and Ghost of Tsushima, have also been pushed back.

Because Microsoft now sells a video-game subscription called Game Pass, which gives customers access to more than 100 titles, Mr. Spencer said there’s less concern about what will be ready when the new console goes on sale. He is confident that there will be enough exciting new games ready when the Xbox Series X hits the market.

So far, the coronavirus disease 2019 pandemic has mostly been positive for Microsoft’s video-game sales, as stuck-at-home gamers of all ages turn to their consoles for entertainment and social engagement. Last week, Microsoft said Game Pass topped 10 million customers. But the longer-term economic impact and rising unemployment will probably affect how many people can afford to pony up several hundred dollars for a new machine later this year.

Still, Mr. Spencer — who joined Microsoft in 1988 as an intern and has been in consumer software for so long that he worked on things like the CD-ROM version of Encarta — said a lot remains unknown as Microsoft navigates its new-product push amid unprecedented global market forces. — Bloomberg

How PSEi member stocks performed — May 6, 2020

Here’s a quick glance at how PSEi stocks fared on Wednesday, May 6, 2020.

Senate sees stimulus boosting 2021 budget to P5-T

THE Senate Committee on Finance said the 2021 spending plan will likely be a “stimulus budget” of about P5 trillion to revive the economy after the coronavirus disease 2019 (COVID-19) emergency.

“Palagay ko (I think) it will be a stimulus budget, so you’re talking of maybe close to P5 trillion,” Senator Juan Edgardo M. Angara, who chairs the committee, said in a virtual briefing Wednesday.

The Department of Budget and Management (DBM) in December said it was looking at a P4.64-trillion national budget for 2021, more than 13% higher than the 2020 edition.

“One-third niyan for loan servicing (A third of the budget is for debt service),” he said.

“‘Yung non personnel items, palagay ko karamihan diyan even the infrastructure will be tied towards providing stimulus (Parts of the personnel and infrastructure budgets could be tied in some way towards providing stimulus),” he said.

Mr. Angara also said the 2021 General Appropriations Act will likely also prioritize government spending on the health sector, particularly on the Philippine Health Insurance Corp., as well as the improvement of health facilities nationwide.

“Nakita natin medyo na-expose tayo sa capacity to test, to ramp up testing. Naging mabagal tayo kung ikumpara sa ibang bansa (Our inability to ramp up testing was exposed by the crisis. We were slow compared to other countries),” he said, adding that such capacity should not only be performed by the Research Institute for Tropical Medicine.

“I think we need that capacity in Luzon, Visayas and Mindanao.”

Mr. Angara backs a stimulus package for the next six months to one year, which will support hard-hit industries such as the tourism sector.

The Bayanihan to Heal as One Act, which granted a P5,000-8,000 monthly subsidy to low-income households for two months, expires after three months.

Senate President Vicente C. Sotto III said in a separate briefing that the chamber will convene the Committee of the Whole on Monday to be briefed by economic managers and members of the Inter-Agency Task Force on Emerging Infectious Disease.

He also plans to meet separately with the Departments of Health, Agriculture and Transportation on Tuesday. — Charmaine A. Tadalan

DoF sees P1-trillion budget deficit, 5.3% of GDP

THE Department of Finance (DoF) is projecting a P1-trillion budget deficit this year, equivalent to about 5.3% of gross domestic product (GDP), as the spending requirements for the pandemic bring deficit norms into uncharted territory.

“What is going to be our deficit for the year? Our estimate is around a trillion pesos (P1 trillion),” Finance Secretary Carlos G. Dominguez III said in a news conference Wednesday.

Finance Undersecretary Gil S. Beltran told BusinessWorld in a mobile message that a P1-trillion deficit is equivalent to 5.3% of GDP.

Mr. Beltran also confirmed that the Development Budget Coordination Committee (DBCC) adopted the 5.3% upper limit for the deficit this year, against the 3.2% cap set before the coronavirus 2019 (COVID-19) outbreak.

In 2019, the budget deficit was P660.2 billion or 3.55% of GDP.

Mr. Beltran added that macroeconomic assumptions for the medium term are “still being formulated.”

Mr. Dominguez said the government is capable of financing such a deficit because of the Philippines’ strong fiscal position.

He also said there are no plans to ask Congress for a supplemental budget this year despite rising expenditures.

“We will strive to live with the P4.1-trillion budget this year and so far we’ve been okay with that. It has been difficult because we have to reallocate from past priorities to new priorities but that’s the reality of the situation,” Mr. Dominguez said, adding that the economic team is reviewing the budget plan for 2021.

The government plans to borrow around $5.7 billion from multilateral agencies including the World Bank, the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB).

Mr. Dominguez said the Department of Finance (DoF) will continue negotiating for project-based bilateral financing agreements committed by Japan, South Korea and China.

“In fact, there is also bilateral financing available from France, of I think $200-300 million,” he said.

Finance Undersecretary Mark Dennis Y.C. Joven, who also heads the DoF’s International Finance Group (IFG), said the group cannot disclose specific details of the agreements while negotiations are pending, saying only that the target is to obtain both project finance and budget-support facilities.

Mr. Joven noted that many countries expressed willingness to help the Philippines, “realizing that the coronavirus pandemic is a global problem and not limited by borders.”

“We are exploring, but we’re hoping that some of these (agreements) will mature this year,” Mr. Joven said in a phone interview Wednesday.

So far, multilateral lenders have approved a total of $2.1 billion worth of loans for use in the COVID-19 containment effort — $1.5 from the ADB and $600 million from the World Bank.

The government is seeking another $750 million from the AIIB to confinance programs with the ADB.

STIMULUS PACKAGE
Mr. Dominguez said the DBCC has also approved the outline for a stimulus package that will be discussed with Congress this week.

“We have prepared the outline of the economic stimulus package which has been approved by the DBCC. We will discuss this at length with the legislature, tomorrow or Friday, so that we can come up with a really responsive and responsible stimulus package,” he said.

Mr. Dominguez said the package will consist of three parts: direct support for the vulnerable population; the recovery plan for the economy; and measures that will “sustain and keep (the country) healthy” after the pandemic ends.

He said the recovery component will include “assistance to banks who support their clients and job creation,” which will involve measures to be implemented by the central bank.

Several stimulus package bills are being drafted by members of the House of Representatives including the proposed P1.3-trillion Philippine Economic Stimulus Act (PESA) bill.

NEDA Acting Director-General Karl Kendrick T. Chua said in a text message that the size of the stimulus package will be determined after the economic managers’ meeting with the legislators. — Beatrice M. Laforga

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