Running a business in Asia, says Sunil Puri, Senior Director of Center for Creative Leadership, is like driving a car at top speed on a poorly lit street at night, with a visibility of just 200 meters. The driver is the CEO and the board directors are the navigators of the trip.
Boards can be creators or destroyers of shareholder value. The board knows the destination and lets the CEO decide the best route. As passengers, the board should know when to lead or speak out and when to sit back or stay out of the way to help management succeed.
At the Institute of Corporate Directors (ICD) webinar on “Future Ready Boards: A Deep Dive” with Sunil as guest speaker, I was a panelist with Val Bagatsing, CEO of ICCP and Jig Juliano Chairman of Alpha Acanthus. Sunil said board leadership is like building a house which needs a strong foundation. The four pillars are:
• Individual motivation — Treat being a director as a profession with strong sense of responsibility. Ask questions. Speak your mind. Demonstrate mature judgment. Develop relationships with other board members, with management, with shareholders and with regulators.
• Board capability — The skills and technical expertise of the directors but also the need to build on strategic leadership and foresight
• Board mandate — Know the role of each key director and what the board should spend time on.
• Board composition — Nurture diversity in skills, experience, age, nationality and gender.
On gender equality, PNB has four women directors and was the first universal bank to be a member of the Philippine Business Coalition for Women Empowerment and the first certified Economic Dividends for Gender Equality (EDGE).
Board culture, Sunil says, is “the secret sauce.” Board culture is the board dynamics and how things are done at the board level. It’s quite complex — it’s a combination of factors such as personalities of the directors, their drive and motivation, board diversity, the mix of independent directors and family directors, the relation between the CEO and the board, etc.
Board culture is the key differentiator between average and great boards. To have all board members as “rock stars” is a recipe for disaster. A board should act and function as a group to be effective. How can boards foster the right culture in times of crises? More than ever, there should be strong collaboration between the board and the CEO and the CEO should be transparent on issues and challenges faced. The board should demonstrate its support to the CEO and the management and work together to achieve their objectives. Open discussion is encouraged — even diverse views — so they can then agree on the best course of action and move forward.
To create the right board culture, Sunil says four Cs are needed: collaboration, candor, challenge and commitment. I’d like to add another C: communication. All of these are deep-rooted in trust, the new board currency. Trust comes with credibility and no personal hidden agenda except what is the best for the company.
With current disruptions, boards should be future fluent and able to deal with new trends in technology, people and sustainability, among others. Is your board future fluent? Here are some questions to answer if your board is getting ready for the future:
• Are there tangible efforts in place to create a learning environment on the board?
• Do you have a technology committee in place?
• Does sustainability (both human and environment) often come up in board dialogues?
• Are there proactive steps to tweak board composition to include future relevant skills?
At the recent Bankers Association of the Philippines (BAP) board meeting, BAP President Bong Consing commended the decisive monetary policy by the Bangko Sentral ng Pilipinas (BSP) in this time of the COVID-19 crisis. He reported that the bank lending and credit spreads have declined to January 2018 levels given the BSP’s proactive actions such as the monetary easing by 125 basis points, the 200-basis-point reserve requirement cut to 12%, the inclusion of MSME loans guaranteed after March 15 as part of the reserve requirement compliance and the staggered booking of allowance for credit loss for a period of five years, among others.
We are fortunate that the Philippines is in strong financial position at this time of crisis with the tax reforms recently implemented by our capable economic management team led by Finance Secretary Carlos Dominguez. Japan Credit Rating Agency just upgraded Philippines to “A-” with stable outlook.
The world is changing fast. We need to be skilled in technology, innovation, understand global business dynamics, appreciate sustainability and be forward looking. Let’s ensure our boards are future ready.
Flor Gozon Tarriela is chairman of the Philippine National Bank and PNB Capital. She is a former Undersecretary of Finance and the first Filipina vice-president of Citibank N.A. She is a trustee of FINEX Foundation and FINEX Academy and an Institute of Corporate Directors fellow.
Father’s Day during this pandemic takes on new, more urgent meaning as we all struggle together: finding ways to live as normally as we can as businesses and places of work resume operations. At the forefront of this challenge are thousands, even millions of fathers who will brave the landscape of our anxieties amid the pandemic, so they can go to work and provide for their families.
With this huge challenge on their shoulders, it’s really a big deal for them to feel our gratitude, appreciation, and love.
Delivery dad
Grab delivery driver Andrew Cucal (far right) was one of the recipients of an act of kindness from Cha Calubaquib, who placed an order for four lechon manok: one for herself, two for the frontliners who live in her building, and one for the Grab delivery man (Cucal).
One dad recently became a social media celebrity after his story became viral: Andrew Cucal, a GrabFood delivery driver, drew admiration and sympathy for how he continues to work hard to support his two kids, taking on two shifts a day delivering food to customers.
31-year-old Andrew is a single parent who supports not only his children but also his elderly mother inside their small home. In one TV interview, Andrew admits he is also feeling anxious about possibly catching the illness brought by the new coronavirus. He said he takes precautions including wearing a mask and sanitizing constantly with alcohol.
Cucal calls on everyone to continue helping one another especially during this time of pandemic.
Andrew’s social media celebrity status was sparked by one of his customers, Cha Calubaquib, who placed a food delivery order on Easter Monday. According to Cha’s Facebook post, it wasn’t really a regular thing for her to order food deliveries especially during the lockdown period.
“Hindi ko kasi kaya yung hiya ko na magpapadelive rako when all these frontliners are also risking their lives just to deliver food. So, naisip ko, kung magpapa deliver ako, gusto ko mapapakain ko din yung magdedeliver the same ng oorder ko,” she posted.
(I could not help but think that all these frontliners are also risking their lives just to deliver food. So I thought, if I had food delivered, I would want to provide food for the person doing the delivery for my order.)
Cha tried several times to book a delivery of four lechon manok (roast chicken) orders, but was unsuccessful. Cha wanted to order one roast chicken for herself, two roast chickens for frontliners who lived in her building, and one for the food delivery man.
She thought of quitting but then, something prompted her to try one more time. It was Andrew who got the booking. He later revealed that Cha’s order came just in time, as he hadn’t been thinking as yet about what to bring his kids for dinner.
For many people who order food via delivery, it’s a routine thing that is very affordable. However, for riders like Cucal, who earn a little more than PhP1,000 (US$20) a day, a lechon manok dinner is already something special. So he was very grateful and delighted when Cha told him that he could take home one of the orders.
It was only later in the day that Cha found out how special her act of kindness was. Andrew messaged Cha and sent her a photo of him and his kids enjoying their lechon manok. The message made Cha cry, realizing that she just helped feed a family during a time of crisis.
After Cha posted her exchange of messages with Andrew online, a lot of people were touched and also sent gifts and support to Andrew. Some, like Cha, gave him food while others sent cash, and still others gave him both cash and groceries.
In his TV interview, Andrew thanked all those who helped him and called on everyone to continue helping one another and to be kind to each other. He encouraged members of the audience to continue fighting and facing challenges every day, and to never lose hope.
Andrew also called on his fellow food delivery guys to keep giving the best service to customers, while he also appealed to customers to help put a stop to prank deliveries that cause much hardship to those like him.
Papa and the monster movies
Of all the things that can happen during this pandemic, perhaps the most painful is losing a loved one to COVID-19. In the case of Anna Bernaldo, she will be celebrating Father’s Day with her mom and siblings and recalling happy days with their Papa Cesar.
She remembers her papa as a quiet but strong and very dependable person. “Whenever I need him, he’s always there. Right from when I was a little girl and until college, he would always pick me up from school and take me home,” she said.
“This Father’s Day, I will thank him. For everything,” says Anna Bernaldo of his daddy, Cesar, who she misses very much.
Even when she was already working for a big TV network, Anna could still count on her dad to take her home whenever she felt she needed his company. She remembers how, during one of the lowest points in her life, her papa was the one who helped pull her through.
“I don’t have any kids, so I’m very close to my pet dogs. Dog owners would know how close we can get to our pets emotionally. They’re like our children. So when Jacko, one of my dogs–who I named after Michael Jackson–died, I fell into a deep depression while grieving.”
“When I couldn’t take the pain anymore, I called him up and told him about what happened. He came over to my place and picked me up. He brought me to the family house with him and mama. I stayed there for a week, grieving my loss.
“Papa is not the sort of person who offers words of comfort. He’s not a talker. But you know he’s there for you. Just by his presence, you feel assured. So while I was grieving for Jacko, Papa was just there.”
Anna remembers her Papa as someone who always found ways to treat her to the things they both enjoyed. For example, they both loved eating at Chinese restaurants in Binondo, something that her mom can never abide. They also shared a love for creature features or monster movies.
“He would take me to watch ‘Gremlins’ or ‘Alien’ in the 1980s, even when I was probably too young to watch them,” Anna recalled, laughing. “It was really him finding a way for both of us to bond. He found a way to keep our movie trips secret. Otherwise, my mom would object to him taking me to watch all these monster movies.”
Cesar Bernaldo, right, during his younger days. Papa Cesar always found ways to treat her daughter Anna to things they both like, like eating at Chinese restaurants in Binondo, and watching monster movies.
Both of Anna’s parents were pastors in their church. After they retired from corporate life, they set up a catering business and became active in the church, leading Bible study sessions on weekends.
On March 27th, Anna’s Papa developed respiratory symptoms. He was catching his breath but otherwise, he seemed in good physical condition.
“We were concerned, of course, even though my dad seemed fine. He had already survived a stroke two years ago and recovered. Finally, we decided to get him to a hospital.”
“We waited a long while before we found a hospital willing to accept him, and for an ambulance to be arranged to pick him up. My mom went with him to the ER.”
“My Papa was fine the whole time. I talked to him to reassure him that everything would be all right and then the ambulance left. It was the last time I would ever see him alive,” said Anna.
According to Anna’s mom, her papa showed no signs of great distress apart from the difficulty breathing. He was isolated in the ER, but Anna’s mom could still peer through the cloth barriers to check on how he was. Every time he saw his wife, he would give a thumbs-up sign to tell her he was okay.
After two days in the ER, Anna’s Papa passed away. It was quick and he didn’t seem to be in pain. Still, Anna’s biggest regret is that her father died alone, with not a single family member at his side.
“It’s so unfair, right? This disease is so terrible because it separates families even at their last moments,” she said.
Anna, her mom, and the rest of her siblings also had to isolate themselves from each other, in compliance with quarantine regulations. It was emotionally excruciating for Anna to isolate herself while at the same time grieving for the father that she loved so much.
“Every day, I would pray to God and then I would also talk to my dad. I would tell him that it felt so bad that I could not hug him one last time,” she said.
Then, a few weeks after her papa died, Anna had a dream. In her dream, she was in a jazz bar and was about to go home.
Then she heard a familiar car horn, beeping outside. She knew it was her Papa. She rushed out of the bar and saw her Papa on the other side of the street. He was standing, beaming and her, and had his arms wide open.
In the dream, there were cars on the street so she couldn’t cross right away. Anna had to wait for 2-3 cars to pass before she could run towards her dad. Then she ran, reached him, and hugged her Papa.
She woke up, in tears, but she was feeling happy as well.
“This Father’s Day, I will thank him. For everything. I’m the bunso in the family. So, as my mom tells me, I’m his favorite. I will also come clean to my mom and tell her that Papa and I watched the entire ‘Alien’ franchise when I was a young girl.”
“I am so thankful to my dad. Even when my last request was to hug him after he died, he found a way to grant my request. He found a way,” said Anna.
Keeping connected
Many of us are separated from loved ones because of lockdowns, or because parents and relatives are working overseas. What’s important is that we don’t lose heart and realize that even as social distancing is the norm for some time to come, we can find ways to connect with our loved ones and express our love and support.
Technology has been an enabler, allowing us to bridge even great distances and connect with loved ones. Let’s all maximize the tools we have to reconnect with them as much as we can. Whether it’s through video chat, or sending food via delivery, we can maintain social bonds that are crucial to survival and mental health.
Since the start of the ECQ and through the other quarantine phases, BDO has been an advocate of staying at home whenever possible to help flatten the curve, while also keeping crucial branches open (under strict safety protocols) to serve its customers. Knowing first hand—from the experience of its frontliners—the challenges, pressures, and separations brought on by this pandemic, the BDO family realizes how even more special occasions like Father’s Day have become.
Let’s all celebrate with more feeling and fervor with the hope that one day, sooner than later, we can gather together as Filipinos are used to. Happy Father’s Day!
Union Bank of the Philippines (UnionBank) has been ranked as the second most helpful bank in Asia-Pacific during the coronavirus crisis – the only Philippine bank in the top 20 list.
UnionBank was next only to Kakao Bank, South Korea’s largest digital-only bank, according to the Bank Quality Consumer Survey on Retail Banks – an online survey conducted last April 1-30, 2020 and covering total 11,000 respondents, with 1,000 each comingfrom China, Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.
The respondents, aged between 18 to 65 and who have at least one bank account each, chose the banks most beneficial to them amid the ongoing pandemic because of their contactless nature and digital services.
UnionBank was ranked higher than international banks such as HSBC, Citibank, DBS, CIMB, United Overseas Bank and OCBC, among others.
UnionBank president and CEO Edwin Bautista expressed gratitude for the public’s recognition of the bank’s quick, sincere and relentless efforts to help alleviate their plight in this difficult time.
“It warms our hearts to know that our customers recognize and value our heroic efforts during this crisis. The coronavirus pandemic has brought the world an unprecedented disruption, but with each of us doing our share, we will weather this challenge – no matter how massive it can be,” Bautista said.
Since the start of the quarantine period, UnionBank boosted its mobile and web banking platforms for retail and corporate customers namely UnionBank Online and The Portal, respectively, to enable clients to safely do their banking transactions from home.
UnionBank was also among the first banks to waive its online fund transfer fees, and deployed its Bank On Wheels to bring its bank branches at the doorstep of its customers.
“I would like to also thank our very hardworking and selfless UnionBankers – frontlinersall – who have been doing their utmost during this pandemic to deliver safe, consistent and full service digital banking to our customers, for this accolade,” Bautista added.
The bank’s fintech arm UBX, has facilitated the release of cash subsidies through the deployment of mobile automated teller machines (ATMs) to its rural bank partners and financial cooperatives where beneficiaries of the government’s Social Amelioration Program can withdraw their money quickly.
UBX has also begun linking its rural bank members to its new network that includes Cebuana Lhuillier, LBC, Palawan Express and PeraHub. This enables customers of these rural banks to send funds and payments to over 11,000 branches of the four remittance centers nationwide.
PRIVATELY owned National Grid Corporation of the Philippines (NGCP) turned over 50 units of testing boosts and 10,000 rapid test kits to the Quezon City local government, led by Mayor Joy Belmonte, on Thursday.
The testing booths and rapid test kits, including test administration and results interpretation, are part of the company’s continuing initiatives to support the national and local government’s response efforts to the coronavirus disease 2019 (COVID-19).
“NGCP understands that this will be a long and hard-fought battle. We want to make sure that our donations will help ease the burden on LGUs and that our support will translate to direct results such as identification of COVID-19 cases. In this way, the process from identification to response and treatment will be expedited,” the grid operator said.
As of June 16, 2020, the Department of Health has recorded the most number of COVID-19 cases in Quezon City with 2,689 confirmed cases, 953 of which are considered active or recovering.
NGCP said barring unforeseen circumstances, testing will begin on Monday, June 22.
It said its COVID-19 response included a P1-billion donation of grocery items to more than 1,000 LGUs and medical equipment to at least 300 hospitals and city, municipal and rural health units.
The medical equipment donation includes ambulances turned over to UP-Philippine General Hospital, Philippine Orthopedic Center, Quirino Memorial Center, Philippine Heart Center, and Biñan Doctors Hospital. PCR machines, SteraMist disinfection and decontamination units, and closed suction systems were also turned over to various hospitals.
NGCP said it would also be constructing donning and doffing chambers, which are sterile holding areas used by medical frontliners to equip themselves with personal protective equipment (PPE) before entering isolation wards, within the hospital facilities of Dr. Jose N. Rodriguez Memorial Hospital, National Kidney and Transplant Institute, Rizal Medical Center, and East Avenue Medical Center.
Isolation rooms with negative pressure will also be constructed for Jose R. Reyes Memorial Medical Center. Three Class N isolation rooms and two Class Q isolation rooms with negative pressure will be used for mild and severe COVID-19 cases, respectively.
NGCP said its other earlier donations are the Meals on Wheels feeding program for indigent communities; a P5 million donation to Project Ugnayan, which distributes supermarket vouchers to economically displaced families in Metro Manila; and earlier distribution of face masks and other PPEs to LGUs and medical frontliners.
Iam a 55-year-old department manager at a medium-size corporation who was laid off after 23 years with the company, which resorted to retrenchment. The company paid my separation benefits which are not enough for my family in these uncertain times. Could you help me assess my options? — Emotional Nucleus.
The Economic Times had a recent article, “Laughter at the Time of Novel Coronavirus: People are coping with Humour in Times of Crisis.” I find it applicable to your case and to every individual who is a “victim” of unemployment, which many organizations are resorting to during the crisis: “Even as scientists across the world race against time and each other to find a remedy for the novel coronavirus pandemic, those who endorse the bromide that laughter is the best medicine are pulling no punch lines to provide diversions from the seriousness of the situation, even if it’s only jest for a moment.
“Doing the rounds on social media is a pastiche of the Beatles’ ‘I wanna hold your hand’ with the repurposed refrain, ‘I gotta wash my hands,’ which seems to bring a spot of therapeutic cheer to all those having a hard day’s night of lockdown.
“And in a risible riff on the lonely hearts club band, a spoof on an agony column ad purports to be from a “Single man with toilet rolls (who) would like to meet a single woman with hand sanitizer for good clean fun.”
This is not to make light of your personal circumstances, but to emphasize that there’s always a rainbow after the rain or there’s always the sun after the rain. Indeed, there’s hope for us and it’s only a matter of time before we finally see the light. In the meantime, let’s find solace to the following questions that could help you assess your options in the future.
TEN QUESTIONS FOR REFLECTION
It’s one of the fundamental rules of life. When something isn’t going right, you only have to ask some basic questions before making a decision. Assess the situation if your plan is not turning the way you plan it. If COVID-19 has ruined your plans and that of your organization, change the way you do things.
The key point here is to try one way, then another, then still another until you find what works. Don’t give up. There are many paths to success.
Sometimes, it turns out that a failure can even present greater opportunities. Therefore, if a door closes, try another door. Even better, try a window of opportunity. Here are some questions that you can ask yourself in assessing your chances for success:
One, at your age, can you get another job elsewhere? As you can imagine, there’s not much hope unless you’re willing to accept much lower pay somewhere outside of the industry. That’s assuming you’ve not signed a non-compete agreement with your past employer.
Two, would you be willing to consider entrepreneurship? It’s one of the most likely solutions to your current issue. Study it carefully. However, don’t spend much of your precious capital. Continue to be frugal. Instead, use all the available resources at hand.
Three, how big is your network of friends and colleagues? Whichever option you take — employment or entrepreneurship, start with your own circle, either as a potential employer or customer. If not, seek the help of your classmates in high school or college.
Four, Are you confident you can serve as a management consultant? Do you have what it takes? How credible are you to your potential clients? Would you be willing to supply your services for free, at least in the meantime?
Five, could you work as a volunteer for non-profit organizations? It could help open doors and windows for you. Whatever happens, you can even widen your circle of friends while at the same time keep busy as you share your management expertise.
Six, would you be willing to sell insurance or pre-need medical plans? This could be your last resort if you’re the type of person too shy to take up selling. But somehow, you should be inspired to know that some of my friends are earning well from this.
Seven, how about seeking office starting at the barangay level? Don’t laugh. At least not yet. When you don’t have many options and you have exhausted many opportunities, consider an elective or appointive office at a local government unit.
Eight, what hobby can you turn into an income? What talent can you monetize? How about painting? Photography? Or how about writing?
Start from where you are. And improve on your craft by learning from others.
Nine, is your word sincere and golden? To put it in another way, can you go the extra mile in helping others or demonstrating your commitment to deliver as promised? If not, better enjoy your retirement with your grandchildren.
Ten, do you really like working and value relationships with people? Humans are flesh and blood. Your friendship with them is your greatest asset. But only if they’re honest.
Remember, you cannot get honesty with a lot of people, but at least you can choose who to retain.
BUILD RELATIONSHIPS
We Filipinos are good in turning crisis into an occasion for jokes, many of them unwarranted, if only to alleviate the situation. Let’s be clear about it though. Jokes are Band-Aid solutions. They’re not intended to solve our problems, nor will they help discover an effective vaccine against COVID-19.
To be successful as a manager, during employment and after retirement, you must be able to build lasting relationships with people — first with your workers and bosses and then your customers. The payoff to creating true relationships is obvious. Give trust and you’ll earn trust.
It’s better than watching your back all the time. That’s an intelligent risk for us to take.
It seems simple, right? But why do managers do this? That’s because building relationships takes a lot of time. If you’ve not been successful with it during your active corporate years, then forget it. But all is not lost. You can build relationships with new people somewhere.
It’s not necessary to build personal friendship, but only to develop a good working relationship. That’s the best thing you can do.
FOR Father’s Day, PETA’s Storytelling Sundays features Russell Molina’s “Tuwing Sabado” and “Ano’ng Gupit Natin Ngayon?” on June 20, 7 p.m. The two stories are about fatherhood and how, in so many ways, our fathers and father-figures influence who we are, how we think, and what kind of persons we could be. Storytelling Sundays is available for free streaming on PETA’s Facebook page and YouTube channel every Sunday at 7 p.m.
I SHOP Lokal
I SHOP Lokal, the virtual fair focusing on the conscious and conscientious Filipino consumer, will hold “Ipagdiwang” in time for Father’s Day. The sale will run from June 18 to 20 at its Instagram page (@ishoplokal). It will feature 25 brands, plus speakers and performers. I SHOP Lokal carefully screens its partner brands to ensure that their sellers possess at least one of its seven Badges of Sustainability.
Zsazsa Zaturnnah ze Muzikal on CCP Online
CARLO Vergara’s superhero comedy-musical Zsazsa Zaturnnah ze Muzikal will stream at CCP’s YouTube channel (bit.ly/CCPOnlineYT) on June 20, 3 p.m. An online reunion with the cast will follow at 6 p.m. after the show’s premiere. The musical stars Eula Valdez in the title role. It will be online for one week.
Fête de la Musique PH 2020
THE first digital version of Fête de la Musique PH will be held on June 21, 6:15 to 10 p.m., on Facebook Live, /FetePH/alliancefrancaisedemanille/BSIDEProdInc. For the first time since its inception in the Philippines, Fête de la Musique brings its festivities exclusively online. Alliance Française de Manille together with B-Side Productions, and in partnership with the Embassies of France and Qatar and the National Commission for Culture and the Arts, present this virtual event in light of the COVID-19 pandemic. The free livestream concert will feature performances from three Filipino acts and two French acts and will be hosted by Manila’s Nurse Rapper Fatima Palma Loo. From France, inventive jazz duo NoSax NoClar and avant-garde French-pop singer and DJ Charles-Baptiste will perform, while from the Philippines, iconic rock band The Itchyworms, folk/world music singer Cynthia Alexander, and the big band Brass Pas Pas Pas Pas will take the digital Fête stage. The show will serve as a platform to drive donations towards Roadie Superstars and Roadies Club PH to help these most essential yet largely unrecognized figures of the entertainment ecosystem. Moreover, Sunday night’s concert will also be in support of LEAP — a non-stock, non-profit organization composed of event producers, event and activation agencies which will officially launch via Facebook on June 25.
Stage Sessions
STAGE Sessions presents an online performance with theater actress Gab Pangilinan on June 20, 10 p. m., at its YouTube channel (https://www.youtube.com/channel/UCyfTfsC_iaH81o2pDbk_KBA).
Freelipiniana online
THE Likhaan: UP Institute of Creative Writing offers the Freelipiniana Online Library at bit.ly/Freelipiniana. It contains published literary works — novels, poetry, and anthologies — by Filipino writers and publishers. Read the introduction and how-to at bit.ly/FOLlaunch prior to your visit.
Lisa Macuja Elizalde in Don Quixote
BALLET Manila presents Lisa Macuja-Elizalde’s favorite roles from her Swan Song Series for streaming on its official social media pages, www.facebook.com/balletmanilaofficial and www.youtube.com/c/balletmanilaofficial. This week, Don Quixote premieres on June 20, 6 p.m. It will be available until June 26, 10 p.m.
Walang Rape sa Bontok
THE LOCKDOWN Cinema Club initiative, the Habi Collective, and the Concerned Artists of the Philippines present free online streaming of documentaries, with Lester Valle’s Walang Rape sa Bontok on Vimeo at https://vimeo.com/400805507. Password: EndRapeCulturePH.
French films online
THE French embassy presents IFCinema a la carte, a festival of films from France and Africa, this month. While in normal years the films are shown in theaters across the country, this year the films will be shown online. Ten full features and 11 short films will be screened online at https://ifcinema.institutfrancaise.com/en/alacarte. All 21 films are subtitled in English and are available online until July 13.
Royal Opera House
AS part of its #OurHouseToYourHouse series, the Royal Opera House showcases Wolgang Amadeus Mozart’s Die Zauberflöte (The Magic Flute) on its official Facebook page (https://www.facebook.com/royaloperahouse/) on June 19 (7 p.m. BST). It features Mauro Peter as Tamino, Siobhan Stagg as Pamina, Roderick Williams as Papageno, Mika Kares as Sarastro, and Sabine Devieilhe as Queen of the Night.
BBC Shakespeare
BBC Shakespeare presents the Royal Shakespeare Company staging of Macbeth featuring Christopher Eccleston in the title role. To watch, visit https://bbc.in/2YonTp.
National Theatre at Home
THE UK National Theatre at Home initiatives presents its 2019 production of Small Island. Based on Andrea Levy’s Orange Prize-winning novel, the show is directed by the National Theatre’s artistic director Rufus Norris. It stars Leah Harvey as Hortense, Aisling Loftus as Queenie, and Gershwyn Eustache Jr as Gilbert. To watch, visit https://www.youtube.com/channel/UCUDq1XzCY0NIOYVJvEMQjqw. The show is available until June 25.
Virtual Museum town hall
THE Alliance of Greater Manila Area Museums (AGMAM), in cooperation with the Visual Arts and Museum Division of the Cultural Center of the Philippines, will hold an online Museum Talk Series on June 18 and June 19 at 10 a.m. to noon. The series will be moderated by Yael Buencamino. Billed as “How are we doing?,” the event is a virtual town hall that aims to encourage sustainable professional practice and welfare of museum-workers from Metro Manila, to unify and grow solidarity among AGMAM members, and to get a better idea of the present and possible future for museums. On June 18, the discussions will be: “How could museums help create a better normal?” by Maria Isabel Garcia of the Bonifacio Art Foundation, Inc.; and “Making history museums relevant amid COVID-19 by Bryan Anthony Paraiso, National Historical Commission of the Philippines-Historic Sites and Education Division. The live feed will be via CCP Online https://www.facebook.com/culturalcenterofthephilippines/. The June 19 session will be by invitation only for AGMAM members. For inquiries, e-mail ccp.vamd.cao3@gmail.com, or contact www.facebook.com/ccpvamd, www.twitter.com/ccpvamd, www.instagram.com/ccpvamd .
Dairy Queen Father’s Day promo
Exclusive until June 22, Dairy Queen is offering a limited edition, basketball-designed ice cream cake made especially for dads. Starting at P799, one can pick-up the cake from any Dairy Queen store or have it delivered through GrabFood, FoodPanda, LalaFood, or Dairy Queen’s new delivery hotline 8911-11-11.
Shangri-La Plaza’s Father’s Day promo
SHANGRI-LA Plaza mall celebrates Father’s Day, which falls on June 21, with a special online game. The mall’s Facebook followers can participate in Game on Dad starting June 16. Shang’s Facebook followers can take a screenshot of the online slot machine GIF showing the item their father wants the most, and post it on their social media account. Everyone who posts is automatically entered into the Shang’s Father’s Day raffle, where a gift awaits the winner. The mall’s food outlets are also offering special Father’s Day promos. Cibo has ready-to-heat take-out specials like Rigatoni Alla Bolognese Al Forno and Coda Alla Vaccinara. Wobbly Pan is opening early reservations for wine gift boxes. Cyma has a cook-it-yourself Prime Steak Kit with instructions and complete ingredients, and a Roast Lamb set that’s ready to serve. Pancake House, Sweet Inspiration, and Shi Lin have exclusive bundles available for advance orders, and Planet Grapes is offering delivery and pick-up options for food and wine. Gyukaku, House of Wagyu, and Pizza Hut also have promos. For inquiries, call 8-370-2597 to 98 or visit www.facebook.com/shangrilaplazaofficial.
Rustan’s Father’s Day online promos
RUSTAN’S marks Father’s Day with special offers available online at rustans.com: 15% off on selected items from Pedro del Hierro; 15% off on selected items from C-Secure; 15% off on selected items from Dorfman Pacific; 20% off on selected items from Bread & Boxers; 10% off on selected items from New Balance; 10% off on selected items from Under Armour; 15% off on selected items from Lexon; and up to 35% off on selected items from Cross. To shop online, discover more brand promos, and to get more information about Rustan’s stores safety measures, visit www.rustans.com.
THE peso weakened on Thursday as the market reacted to rising geopolitical tensions in major economies, such as the border clash between China and India.
The local currency depreciated by 14 centavos to close at P50.17 against the greenback yesterday from P50.03 on Wednesday.
The peso started the session at P50.06 versus the dollar, depreciating to as low as P50.18. Meanwhile, its strongest showing was at P49.96 against the greenback.
Dollars traded jumped to $1.166 billion on Thursday from the $768.5 million seen on Wednesday.
A trader said the local unit depreciated amid investors’ flight to safety due to escalating tensions in major economies.
“The local currency weakened from safe-haven demand amid the growing geopolitical tensions in Korea and between China and India,” the trader said in an email.
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said via Viber that the peso ended weaker on profit-taking in global stock markets following earlier gains, resulting in an upward correction in the US dollar against other global currencies.
“Upward correction in the US dollar vs. major global currencies came after renewed tensions between China and India, also in the Korean Peninsula,” Mr. Ricafort added.
At least 20 Indian soldiers were reportedly dead after Indian and Chinese troops clashed Monday at a disputed Himalayan border, according to reports by Reuters.
Investors also reacted to the rising tensions between South Korea and North Korea after the latter demolished the joint Korean liaison office established in the border town and rejected South Korea’s offer to send special envoys and redeploy troops at the border, according to Reuters.
UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion, said the local unit declined after optimism sparked by the fiscal stimulus of the US government faded over concerns on economic recovery, with the number of coronavirus cases continuing to rise in the economic giant.
Back home, Mr. Asuncion said “dovish sentiments by the BSP (Bangko Sentral ng Pilipinas) governor may have also dampened the peso.”
Meanwhile, the trader expects peso to strengthen “on expectations of further moderation in the US initial jobs claims report overnight.”
For today, the trader expects the peso to settle between P50.05 and P50.25 per dollar, while Mr. Ricafort and Mr. Asuncion gave the same forecast range of P50.00-P50.30. — B.M. Laforga
THE MAIN INDEX ended Thursday’s session with gains as dampened investor sentiment was offset by last-minute bargain hunting.
The bellwether Philippine Stock Exchange index (PSEi) rose 66.44 points or 1.05% to 6,348.45. The broader all shares index picked up 15.89 points or 0.43% to 3,714.29.
The index was down in the earlier parts of the session, sinking as deep as 6,205.25 intraday, until it climbed to reach and close at its high of 6,348.45.
“Local shares were bought up towards closing as investors monitored signs of a revival of the coronavirus pandemic in some US states and China, while still hoping for a quick economic recovery as business activity resumes,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a mobile message.
After reopening its economy weeks ago despite the ongoing coronavirus disease 2019 (COVID-19) pandemic, six US states reported their highest new COVID-19 cases, The Guardian reported Wednesday.
Beijing has also raised emergency in the city again after recording a surge in new cases since it relaxed lockdown measures in the past weeks.
The global COVID-19 tally has reached 8.35 million as of Thursday, where 449,027 has so far been killed based on data by Johns Hopkins University’s Coronavirus Resource Center.
Worries over the “second wave” dampened investor sentiment, but prospects of an economic rebound due to the easing quarantine measures triggered some optimism.
US markets ended mixed on Wednesday: the Dow Jones Industrial Average and S&P 500 indices slipped 0.65% and 0.36%, respectively, while the Nasdaq Composite index improved 0.15%.
Asian markets were also mixed on Thursday. Japan’s Nikkei 225 and Topix indices fell 0.45% and 0.25%, respectively, while China’s Shanghai SE Composite and Shenzhen CSI 300 indices rose 0.12% and 0.67%, respectively.
At the PSE, four of six sectoral indices ended the session in green territory. Property gained 57.34 points or 1.84% to 3,168.13; holding firms added 76.53 points or 1.17% to 6,591.04; industrials increased 14.57 points or 0.18% to 7,775.19; and financials climbed 1.85 point or 0.14% to 1,258.67.
Closing in red territory were mining and oil, which shed 36.05 points or 0.71% to 5,042.91; and services, which slid 0.07 point to 1,417.52.
Value turnover stood at P10.44 billion on Thursday with 2.77 billion issues switching hands, higher than the previous day’s P8.09 billion with 1.26 billion issues.
Decliners outpaced advancers, 124 against 69, while 46 names ended unchanged.
Offshore investors ended Thursday’s session as net buyers. Net foreign buying stood at P544.06 million from the previous day’s net foreign selling of P1.17 billion. — Denise A. Valdez
EIGHT of 10 Filipinos said they became worse off in the past 12 months, a record number, as the country battles a coronavirus pandemic, according to a Social Weather Stations poll (SWS).
In a statement on Thursday, SWS said 83% of Filipinos said their quality of life worsened, 6% said it improved, while 10% said it was unchanged.
This resulted in an “extremely low” net score of -78 from a “very high” +18 in December, the pollster said. It was the worst figure since the “low” -50 in June 2008, it added.
“The 83% proportion of losers in May 2020 is a new peak in the 37-year series of 135 SWS surveys, breaking the previous record 62% losers in June 2008,” it said. “The 6% proportion of gainers is a new all-time low, breaking the previous record 9% gainers in July 1985,” it added.
The number of Filipinos who said they were worse off was the highest in the Visayas, which had a net score of -82, followed by Mindanao at -80, Metro Manila at -77 and the rest of Luzon at -75.
The net gainer score was equally bad in areas under strict lockdown or enhanced community quarantine and general quarantine at -77 and –78, SWS said.
SWS interviewed 4,010 working-age Filipinos on May 4 to 10 for the poll, which had an error margin of ±2 points, it said.
President Rodrigo R. Duterte locked down the entire island of Luzon in mid-March, suspending work, classes and public transportation to contain the pandemic. People should stay home except to buy food and other basic goods, he said.
At the time, areas under strict lockdown were Metro Manila, Central Luzon (except Aurora), Calabarzon region, Benguet, Pangasinan, Iloilo, Cebu and the cities of Bacolod and Davao. All other areas were under a more relaxed general quarantine.
The negative May score was a break from the positive trend in the past five years, SWS said. Of the 20 observations between March 2015 and December 2019, 19 were positive. “Notably, this already accounts for 90% of all positive scores recorded by SWS,” it said.
The poll found that less educated people, those who lost their jobs or experienced a pay cut, and families who got hungry were more likely to feel they were worse off, SWS said.
By educational attainment, the net gainer score was lowest among people who reached elementary school at –89, followed by elementary graduates at –82, junior high school graduates at –78 and college graduates at –65, according to the poll.
An SWS poll last month also found that 4.2 million Filipino families got hungry during the lockdown, nearly double the 2.1 million families in December. — Vann Marlo M. Villegas
THE presidential palace on Thursday denied there was a government attempt to lie about the extent of coronavirus infections in the country, as cases neared 28,000.
“There is a need to improve reporting of the data to make it accurate but no one is lying,” presidential spokesman Harry L. Roque said at a news briefing.
This comes after the government fired a prominent doctor as a COVID-19 adviser after reporting contrary reports to media. President Rodrigo R. Duterte back his removal, Mr. Roque said.
Meanwhile, the Department of Health reported 562 new coronavirus infections yesterday, bringing the total to 27,799.
The death toll rose to 1,116 after nine more patients died, while 270 more patients have gotten well, bringing the total recoveries to 7,090, it said in a bulletin.
Of the new cases, 481 results were released in the past three days, while 81 were reported late, DoH said.
The country had 19,310 active cases as of June 17, 97% of whom showed mild symptoms, according to the Health department. There were 60 laboratories licensed to test COVID-19 samples.
Health Undersecretary Maria Rosario S. Vergeire urged the public to wear masks, observe social distancing and wash their hands frequently to prevent the virus from spreading.
“We all have a very important role to play,” she said at an online news briefing. “The disease won’t spread if we follow personal preventive measures.”
The Office of the Ombudsman on Wednesday said it had formed two teams to investigate alleged anomalies at the Health department in connection with the country’s battle against the coronavirus.
Health officials have been criticized for the delays in reporting, buying personal protective equipment and the processing of benefits for health workers who died and got ill.
DoH has said it would cooperate with the Ombudsman probe. It added that it had been transparent in reporting cases, and cash benefits had been released to health workers. — Vann Marlo M. VillegasandGillian M. Cortez
MORE than 300 inmates and staff of the Bureau of Corrections (BuCor) have been infected with the coronavirus, the Justice department said on Thursday.
Of the total, 141 inmates and 38 prison staff were from the national penitentiary in Muntinlupa City, while 82 inmates and seven staff members were from the Correctional Institute for Women in Mandaluyong City, Justice Undersecretary Markk L. Perete told reporters in a Viber message.
Meanwhile, 33 prison workers from its national headquarters were also infected with the virus, he said, adding that 145 people have recovered and 16 inmates died.
The rest of the penal farms and colonies managed by BuCor reported no cases of COVID-19,” Mr. Perete said. “The BuCor continues its testing and contact-tracing efforts to prevent further infections.”
Mr. Perete said they were awaiting delivery of 5,000 COVID-19 test kits under a justice reform program.
Efforts were made to decongest jails and prisons because of the risk of a virus outbreak after calls and a petition from various groups to release prisoners at risk of dying if they get infected, the Justice official said.
Last month, DoJ said 117 inmates had been granted parole, while 424 more inmates became eligible for parole but were still awaiting clearance from the National Bureau of Investigation.
The Office of the Court Administrator has also ordered trial judges to enforce a six-year-old rule allowing the release of prisoners who have served the minimum penalty for their sentences and those who lack witnesses for their case.
The Supreme Court has issued guidelines as well for the release of indigent inmates through reduced bail. — Vann Marlo M. Villegas
