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Kilalang female star magulo ang lovelife, nabuking na may kinakalantaring ibang babae ang dyowang aktor
NAGUGULUHAN daw ngayon ang kilalang aktres sa lovelife niya dahil nakialam na ang kanyang magulang na dati’y botong-boto sa boyfriend niyang aktor. Sitsit ng aming source, may pinagdaraanan ngayon ang kilalang aktres sa buhay pag-ibig niya dahil naninimbang siya sa dyowa at sa magulang niya. Mabuti na lang daw at marami siyang ginagawa ngayon na.....»»
Sandiganbayan junks ex-BoC exec’s plea
The Sandiganbayan has junked the appeal of an ex-official of the Bureau of Correction and a private defendant convicted of graft over an anomalous sugar deal worth over P10 million in 2000. In a seven-page resolution, the Sandiganbayan Fifth Division turned down the appeal filed by ex-BoC official Benjamin Bongon and Roger Ang, who were found guilty of violation of the Anti-Graft and Corrupt Practices Act (RA 3019) and were sentenced to up to seven years behind bars by the Cebu Regional Trial Court Branch 23 in December 2017. The lower court, likewise, ordered the accused to pay a P10,859,063 fine. The graft case involved the 28,000 bags of unmanifested imported sugar carried by M/V Affy that the BoC seized in 1999 and was later auctioned in 2000. Ang, the proprietor of Consumer Enterprises, won the bidding and deposited P21 million, equivalent to the price of 28,000 bags. However, a composite team reported to Bongon, the erstwhile chief of the Auction and Cargo Disposal Division of the BoC-Port of Cebu, that only 13,753 bags of sugar were offloaded from the vessel and subsequently acquired by Ang. This prompted Ang to refund P10,859,063, corresponding to the surplus of his initial payment of P21,341,600. The post Sandiganbayan junks ex-BoC exec’s plea appeared first on Daily Tribune......»»
Colombian politicians, family, bid farewell to Botero before public homage
Colombia's lawmakers bade a final farewell Friday to renowned artist Fernando Botero who died aged 91 last week, and whose body was flown from Europe to Bogota for a week-long homage. Botero's coffin, the yellow, blue, and red Colombian flag draped over it, lay in state in the wreath-filled legislative chamber as a choir and orchestra performed and the presidential guard stood on attention. Known for his voluptuous depictions of people and animals using different media, Colombia's most famous artist died in Monaco, where he lived, on September 15 after developing pneumonia. "We are overwhelmed, moved, and deeply grateful for the expressions of affection, recognition, and gratitude shown to my father," said Lina Botero, the artist's daughter who attended the solemn ceremony along with other family members. "Bringing my father back to his homeland one last time, so that Colombians can say goodbye to him, was one of our greatest wishes,” she added. Ivan Name, president of the Congress, praised Botero as a "universal Colombian." The artist "stopped the world for an instant... he did it with a brush and with his hands when he managed to paint a different world, a world that reflected the reality of his country but also contained the secret keys to the human spirit," said Name. Members of the public came to pay their respects, with retired scientist Mercedes Rojas saying she would remember Botero's "representation of daily life in Colombia," and 56-year-old artist and painter Santiago Soto telling AFP that Botero's work is "immortal." The artist's body will rest until Sunday in a congressional chamber accessible to the public, in the heart of the historic center of Bogota. On Monday, the remains will be transferred to his hometown of Medellin in the northwest, where several events have been planned to honor him. Botero will then be cremated and his ashes taken to the small Italian village of Pietrasanta, to be interred next to his wife, the Greek artist Sophia Vari, who died in May. Botero -- dubbed the "Picasso of Latin America" -- was a passionate and tireless artist, with an oeuvre of more than 3,000 paintings and 300 sculptures. His creations of oversized and slightly surreal forms have been auctioned for up to $4.3 million at prestigious galleries in cities such as New York or London. Medellin declared a week of mourning for Botero. His daughter had told reporters her father had continued painting until the end despite a battle with Parkinson's disease which made it hard for him to walk or communicate. The post Colombian politicians, family, bid farewell to Botero before public homage appeared first on Daily Tribune......»»
US authorities return seven works of art stolen by Nazis
New York authorities announced on Wednesday the return of $9 million in art stolen by the Nazi regime to the family of Fritz Grunbaum, an Austrian Jewish cabaret performer killed in the Holocaust. The seven drawings, all from Austrian artist Egon Schiele, were "voluntarily surrendered by the holding institutions and estates," including New York's famous Museum of Modern Art, "after they were presented with evidence that they were stolen by the Nazis," the Manhattan District Attorney's office said in a statement. The move comes as a victory for Grunbaum's heirs, who have been fighting for the art's return for years. Grunbaum died at the Dachau concentration camp in 1941. "I hope this moment can serve as a reminder that despite the horrific death and destruction caused by the Nazis, it is never too late to recover some of what we lost (and) honor the victims," District Attorney Alvin Bragg said in a statement. Timothy Reif, a judge and one of Grunbaum's relatives, thanked authorities for having "succeeded in solving crimes perpetrated over 80 years ago." "Their righteous and courageous collaboration in the pursuit of justice -- unique among prosecutors and law enforcement in this entire nation, if not the world -- shine a bright light for all to follow." As of June, Bragg's office had returned more than 950 looted or improperly acquired pieces of art worth $165 million, to countries including Cambodia, Pakistan, Egypt, Turkey and Italy. 'Degenerate' The seven Schiele drawings were seized by the office's Antiquities Tracking Unit earlier this year, from the Museum of Modern Art, The Ronald Lauder Collection, The Morgan Library, The Santa Barbara Museum of Art and the Vally Sabarsky Trust in Manhattan. The works by Schiele, an Austrian expressionist artist, are valued between $780,000 and $2.75 million each, with the district attorney's office estimating their total value at more than $9 million. Grunbaum, who was also an art collector and critic of the Nazi regime, possessed hundreds of works of art, including more than 80 by Schiele. Schiele's works, considered "degenerate" by the Nazis, were largely auctioned or sold abroad to finance the Nazi Party, according to the district attorney's office. Arrested by the Nazis in 1938, Grunbaum was forced while at Dachau to sign over his power of attorney to his spouse, who was then made to hand over the family's entire collection before herself being deported to a different concentration camp, in current-day Belarus. The seven works whose restitution was announced Wednesday had reappeared on the art market after World War II in the 1950s, first in Switzerland and then making their way to New York. A judge in 2018 had ruled in favor of the Grunbaum heirs concerning two different Schiele pieces, after a London art dealer argued that a sale of 54 Schiele drawings by Grunbaum's sister-in-law after his death was a valid transfer of the work. But the judge rejected the idea that Grunbaum would have ever given her possession of the works voluntarily, writing that "a signature at gunpoint cannot lead to a valid conveyance." That ruling was one of the first to come after Congress passed the Holocaust Expropriated Recovery Act in 2016, designed to relax the s The post US authorities return seven works of art stolen by Nazis appeared first on Daily Tribune......»»
Basic Energy auctioned off 450-M of delinquent shares to its owner at a premium
Basic Energy disclosed that it sold 450 million delinquent common shares to a company called Ecology Energy Corp. at a public auction yesterday......»»
Menchu Katigbak: The splendid life of a society swan
Hers is a story anyone would love to tell and retell, or hear and hear again. Chances are, as in the book of Menchu, so many things are left unsaid because if these were all said, a single book would not be enough. Carmencita “Menchu” Katigbak’s story is one of love, passion, hurts and disappointments, social triumphs and power in its subtle workings, but mostly the good life and the people who live it and make it happen. She is a woman of the world in the sense of one who has lived in, explored and enjoyed New York, Bangkok, Lausanne, Paris and, her current love, Singapore. Of course, her turf is in Manila with a Capital S and Capital P (as in Power), and Lipa the hometown of her roots. [caption id="attachment_180060" align="aligncenter" width="958"] MENCHU with best friend Susie and her daughter Marivic.[/caption] At a time when the term “socialite” can come cheap, trite or even undeserved, Menchu gives the appellation dignity, respect and the awe it once inspired. Her social credentials are, of course, impeccable. For starters, she attended the Chateau Mont-Choisi, a Swiss finishing school for debutantes and pre-debs belonging to royalty and the world’s upper crust. A socialite today, in loose modern parlance, is perceived as being frivolous, one who attends parties because these men and women are party animals, or party people, as one columnist has named her weekly jottings about the social events of the day. The enjoyment of life is what defines this breed and set, and yet, while Menchu, too, knows how to enjoy, and enjoy life with gusto, there is more to her and that differentiates her from the herd. No, she does not top her charmed life with an icing of well-publicized good deeds and philanthropic beneficence, even if she actually shares her bounty with those in need. Menchu is of a different mold. She is a society swan in the manner of Truman Capote’s chums — Babe Paley, Gloria Guinness, Lee Radziwill. In our part of the world, think Chona, think Minnie, think Chito. She may well be cast in the same crème de la creme mold, glamorous denizens of the inner circles of society, at the same time, ladies who have transcended the vagaries of time. Just recently, Menchu was referred to by a diplomat friend as a global influencer, a 21st-century appellation that only a few are accorded. This one is applied to one who was once a señorita, colegiala and, yes, society girl, again in the tradition of Chona, Baby, Nelly, Chito and Ising. ‘The Katigbaks talk only to the Kalaws’ They don’t need family names, each as important as the other and of the same significance in society. Still, it’s one thing to say that she is Baby Fores, and another if she is Baby Arenas. There were two Vickys, one of national import and memory being the lovely teenager who stood as her father’s First Lady in the early 1950s, and there was the Madrigal matron, Vicky nee Abad Santos, who was low-key and the daughter of the World War II patriot, Jose Abad Santos, who refused to pledge allegiance to the flag of the enemies. Menchu shares first name distinction with Menchu delas Alas Concepcion, also of Batangueña parentage, being the daughter of banker and finance guy and public servant Don Antonio de las Alas. Both aristocrats from Batangas, the two Menchus share many distinctions beauty for one, pedigree, for the other—but that’s as far as I would say, the aforementioned traits being obvious. But to drive his point, Joe Guevarra, the humorous and well-placed columnist known for his tongue-in-cheek pronouncements, once said of the olden times, when the genealogical boundaries were well-defined, “In Lipa, the Katigbaks talk only to the Kalaws, and the Kalaws talk only to the Katigbaks.” [caption id="attachment_180057" align="aligncenter" width="998"] DINNER in Pili with Fernando and Zobel, Tessie Sy-Coson, Guilly Luchangco, Federico ‘Piki’ Lopez | photograph courtesy of MENCHU KATIGBAK[/caption] This self-confessed social climber, as his 8-to-5-and-beyond job would require him to be, admits to not having met (okay, having been introduced to…) the ebullient society hostess, traveler, culinary maven and friend-to-the-powerful Menchu Katigbak. Everything that I am writing here, I learned from the lady’s biography, Menchu, authored by lifestyle journalism icon Thelma Sioson San Juan, the two being decades-old friends. Menchu, one finds out toward the end of the book, is the inspiration for her granddaughter Isabelle’s first tome, Abu, the Sad Princess. I look back on the pages I have read, the memories of Menchu’s lifetime so far, in all its seven glorious and electrifying decades, and I dare say, the description is most apt and is true as well in real life as Menchu today is “living happily ever after” having come to terms with the many issues that confronted her at various times, but more importantly, she is today a fulfilled mother and grandmother and a believer in Jesus Christ. But that is getting ahead of the story. ‘White Matter’ by Lao Lianben Jaime Ponce de Leon, dear Jaime, the man of the hour of Philippine arts for as long as Juan Luna’s missing masterpiece, remains ensconced at the Ayala Museum – gaining for the discoverer more than a foothold in our cultural history – asked me if I was interested in writing about the socially formidable Menchu Katigbak, and I readily said yes, having seen her photographs in the select and more discriminating society pages and columns. I thought to myself it would be an opportunity to meet the lady face to face and add her to my glossary of so-called newfound friends, but that was not meant to be. I was, oh, I was treated to the next best thing – a copy of Menchu which, to someone who aspires to be a bibliophile, is all that matters in the world, except that I am first a social climber. And since I have not been allowed an audience, I take solace in the book and, as my honeyed revenge, will tell you what I feel about the lady who, I understand, could be frank and outspoken. Abrasive is too strong a word, and unfair for I am not sure if I will ever meet her in my lifetime, but I am told the lady will never mince words, that’s probably why she has legions of true friends who probably can give as much as take, or so I am imagining. [caption id="attachment_180055" align="aligncenter" width="1475"] Lunch in the kitchen in Pili with Patty Araneta (left) and Monet Recio-Schem.[/caption] A painting that Menchu has kept all these years, “White Matter” by Lao Lianben, signed and dated 1997, has been featured as one of the rare pieces to be auctioned in Leon Gallery’s forthcoming magnificent September auction, with the starting bid of P2,600,000. So, there, if you’re wondering what Jaime, who moves around the best circles, has got to do with this enigmatic swan. ‘We are not rich’ But let’s stick to what the book says. While she intersperses in her narrative personal encounters with her subject, TSJ, for the most part, devotes the pages of this book to Menchu alone, and with our cosmopolitan lady, the many friends in the upper echelons whose lives she has touched and who have touched hers in turn. Menchu, once she was ready to be told, heard it straight from her mother, “Tandaan mo, baka akala mo mayaman tayo. Hindi tayo mayaman. Kung napadala ka namin sa Switzerland at si Tita at si Tony napadala naming sa America, kasi nagpawis ako ng dugo (Remember, you may think we are rich, we are not rich. If we sent you to Switzerland and Tita and Tony to America, it was because I sweated blood). If you think you’re going to inherit something from us, banish the thought. So if you don’t study well, bahala ka sa sarili mo (you’re on your own).” The perfect words for the Asuncionista (Assumptionista) who much preferred to bake food for the gods, brownies and upside-down cakes and do naughty things like hiding the bell used to signal the start and end of class periods. Her mother, the former Charing Roxas Dimayuga, who attended Assumption Convent, dealt in buying, developing and selling homes in the gated Makati villages. She also developed horizontal and vertical commercial spaces as well as imported retazos from abroad. [caption id="attachment_180056" align="aligncenter" width="696"] Wearing the Van Cleef earrings purchased before their public launch.[/caption] Her father, Enrique Luz Katigbak, on the other hand, was a top certified public accountant, an alumnus of the Northwestern University and a director on the boards of Monte de Piedad and Philtrust banks. Of his connections, none is more eminent than his friendship with His Eminence, Rufino Cardinal Santos, archbishop of Manila and the first Filipino Cardinal of the Catholic Church. It was not a happenstance that Menchu received the sacrament of confirmation from the Cardinal himself right in the Katigbak home, the first ever that was held in a private home if any other followed at all. Like most children, Menchu recalls in the book how she detested being “slapped” by the pious prelate. If she was any pleased about her family’s closeness to the holy man, it was that the Assumption sisters did not expel her for her not-too-infrequent infractions because they went to her father if they needed something from the Cardinal. Dona Aurora Recto for a ‘guardian’ Hers was a lonely childhood since her older siblings were away. They were the triple seven, which alluded to their being born seven years apart, with Menchu as the youngest. On certain days, her parents, both busy, would deposit her in the home of the statesman Claro M. Recto where she would play with his favorite granddaughter, Techie, who had all these toys, Menchu could not help realizing her parents did not buy her a toy. She played with her jackstones while Techie had a closetful of toys, including a toy “cash register.” Techie was so generous she was giving this fancy plaything to her, but Menchu refused knowing her mother would not approve. What she remembers best of that time was the sight of Dona Aurora, the first beautiful woman she beheld in her young mind and eyes, and from her, she learned her first lessons in etiquette, because the family ate with a full complement of silverware and flatware. (To be continued) The post Menchu Katigbak: The splendid life of a society swan appeared first on Daily Tribune......»»
South African rhino farm, world’s largest, bought by NGO
The largest rhino farm in the world, which is home to 2,000 animals and located in South Africa, has been bought by the NGO African Parks, the organization said Monday. Home to nearly 80 percent of the world's rhinoceroses, South Africa is a poaching hotspot, driven by demand from Asia, where horns are used in traditional medicine for their supposed therapeutic effect. The government said 448 of the rare animals were killed across the country last year, only three fewer than in 2021 despite increased protection at national parks such as the renowned Kruger. "African Parks has stepped in as the new owner of the world's largest private captive rhino breeding operation," the conservation NGO said in the statement. The NGO will take over the 7,800 hectare "Platinum Rhino" site in the North West province, which it says currently is home to 15 percent of the world's remaining wild population of southern white rhino. The rhino farm was previously owned by 81-year-old South African conservationist John Hume, who auctioned the property earlier this year. Although he said he was looking for a "billionaire" to take it over, African Parks said that no offers were received, leaving the rhinos at "great risk of poaching". The NGO said it received from the South Africa government. Hume told AFP in an interview before the sale that through the years he had lavished around $150 million on his massive philanthropic project to save the world's second largest land mammal. Security and surveillance was the farm's biggest cost, he said. African Parks, which manages 22 protected areas across the continent, says it plans to return 2,000 southern white rhino to the wild over the next 10 years. The species was hunted to near extinction in the late 19th century but gradually recovered thanks to decades of protection and breeding efforts. The post South African rhino farm, world’s largest, bought by NGO appeared first on Daily Tribune......»»
Juanito Torres presents National Heroes’ Day masterpiece
As a tribute to the heroes of the country, Juanito Torres completed a 67-by-91-inch work of art as the nation celebrated the annual National Heroes’ Day last 28 August. The artwork, titled “La Solidaridad,” depicts a gathering of prominent historical figures in one frame — Dr. Jose Rizal, Marcelo H. del Pilar, Mariano Ponce, Jose Maria Panganiban, Graciano Lopez Jaena, Felix Resurreccion Hidalgo, Juan Luna and Antonio Luna. This is among the pieces in The Magnificent September Auction 2023 of Leon Gallery this 9 September. [caption id="attachment_179655" align="aligncenter" width="2560"] ‘Generals of the Philippine Revolution’ (59” x 91.5,” oil on canvas).[/caption] Paying tribute to noble soldiers in Philippine history is Torres’ “Generals of the Philippine Revolution.” In this piece, he painted key figures, such as Andres Bonifacio, Antonio Luna, Emilio Jacinto, Emilio Aguinaldo, Macario Sakay, Miguel Malvar and Gregorio del Pilar, among others. Torres attended the Philippine High School for the Arts in Makiling in Los Baños, Laguna, where he was awarded for Outstanding Visual Arts in 1994. He took further studies at the University of the Philippines’ College of Fine Arts in Diliman, Quezon City. The late art critic Alice Guillermo described him as one of the leading contemporary artists of his time, joining the ranks of Elmer Borlongan, Mark Justiniani and Neil Doloricon, among others. Torres was a finalist at the Metrobank Foundation National Painting Competition in 2005 and was a fellow and designated artist for CANVAS Romeo Forbes Children’s Literature Initiative from 2009 to 2010. His works are part of the permanent collections of major museums in the country, such as the Museum of the Katipunan in San Juan City, Miguel Malvar Museum in Batangas, Pinto Museum in Antipolo City and Luna Museum in Ilocos Sur, and the National Historical Commission, among others. His portfolio made the seminal artwork exhibit “Icons and Superheroes.” Among his other works is the recently sold monumental work The Grand Ball and the auctioned piece, “Parade of Heroes.” He is represented by Galerie Joaquin. For more information, email info@galeriejoaquin.com. The post Juanito Torres presents National Heroes’ Day masterpiece appeared first on Daily Tribune......»»
‘Bohemian Rhapsody’ piano, other Freddie Mercury belongings to be auctioned
LONDON—Fans of Freddie Mercury might wonder if this is the real life, or just fantasy, when they walk into a near-replica of his London home, where thousands of items belonging to the late Queen frontman will be on exhibition starting Friday Aug. 4. Rare items including handwritten lyrics, art and collectibles from Mercury’s London home, […] The post ‘Bohemian Rhapsody’ piano, other Freddie Mercury belongings to be auctioned appeared first on Cebu Daily News......»»
First German offshore wind farm auction raises billions
Germany on Wednesday auctioned off rights to build offshore wind power plants for the first time, raising billions of euros earmarked to help slash consumer electricity bills. Three sites on the North Sea and one on the Baltic brought in proceeds of 12.6 billion euros ($14.0 billion), the Federal Network Agency, a government regulatory body, said. The winning offers came from energy giants BP and TotalEnergies among eight bidders for each of the sites. "The outcome confirms the attractiveness of investments in offshore wind energy in Germany," said Federal Network Agency president Klaus Mueller in a statement. "Competition for offshore wind energy has never been higher." Ninety percent of the windfall is to be used to offset a spike in household electricity costs largely with grid expansion, the agency said, with the remaining funds going toward marine conservation and sustainable fishing measures. It was the first time the agency used an auction to determine which companies could build wind farms, which are set to open by 2030. The North Sea sites are due to have a capacity of 2,000 megawatts each while the Baltic facility will produce up to 1,000 megawatts. Chancellor Olaf Scholz's center-left-led coalition government has pledged to produce 80 percent of electricity from renewable sources by 2030, with an ambitious timetable for boosting offshore wind capacity. The post First German offshore wind farm auction raises billions appeared first on Daily Tribune......»»
One Cainta Arena ready for cage wars
The One Cainta Arena is now ready to host basketball games such as Maharlika Pilipinas Basketball League, municipal administrator Keith Nieto said in a social media post. Nieto said the local government has built a dugout inside the sports facility. “I just dropped by at the One Cainta Arena today to inspect the dugout under construction. This is now the status. I still have finishing touches before opening the facility to the public,” Nieto said. “MPBL pips, we’re now ready to host,” the municipal administrator added. Meanwhile, the former mayor has resumed raffling off sneakers for his constituents. He has also auctioned off some of his personal sneaker collection during the pandemic to help raise funds for his constituents not covered by the government’s special amelioration program. The post One Cainta Arena ready for cage wars appeared first on Daily Tribune......»»
Jaime Ponce de Leon — Art world’s man of the hour
To say that Jaime de Leon gave us his most prized treasure by sharing his “Hymen, Oh Hymenee” by Juan Luna would be an understatement. Jaime has not only made legions of art lovers happy and ecstatic; what he has achieved, by allowing the exhibition of this missing masterpiece, the holy grail of Philippine art, is an earthshaking development — one that, as it were, had ignited an intense movement of the “tectonic plate” of Philippine cultural heritage. [caption id="attachment_145553" align="aligncenter" width="525"] Photographs courtesy of leon gallery | ‘Hymen, oh Hyménée,’ in its finest details, manifests Juan Lu-na’s genius as an artist.[/caption] What had been missing for more than a century finally found its way home, right at the renowned Ayala Museum, thanks to Jaime, the trailblazing founder of the game-changing Leon Gallery, which has been responsible for the change of hands of the most valuable masterpieces of our renowned artists from the Spanish times, through antebellum Philippines and the postwar years, all the way to the new millennium. [caption id="attachment_145552" align="aligncenter" width="525"] JAIME de Leon, NCCA chairman Ino Manalo and Ayala Museum’s senior director Mariles Gustilo.[/caption] His discovery of Luna’s most sought-after painting in a royal house in Europe is a story that will be told through the coming generations of art lovers, enthusiasts, collectors and scholars. Just a few days ago, I visited Jaime in Leon Gallery, and art gallery and auction house that he founded in 2013. He shared with me his life story and how he had stumbled upon a new epicenter around which would revolve the life that he had wanted for himself. Jaime was still pursuing his business management degree in Silliman University when he was elected as the chairman of the barangay located right along the main boulevard of Dumaguete City. Realizing that politics was “not cut for me, I thought that I had bigger dreams. It’s like a fish that you put on a pond. It would only grow up to that size. I wanted to go to the big city. I wanted to live in the ocean and allow myself to be bigger. So, I moved to Manila.” In the big city, he started out as a real estate salesman, one of those guys who gave away brochures at the mall. But he would not last long, as he explored other possibilities. He next spent a year in Malaysia where he worked at the office of a construction firm. “It was a time for discovering myself,” he says. “I also learned how to be truly independent, away from the support of one’s family and home. It was an eye opener for me. After a year, when I got back to the Philippines, I thought, ‘Oh my God. What would I make of my life? I didn’t know which direction to take.” He then decided on taking up interior design at the Philippine School of Interior Design. While he admitted to not being good at drawing, he grew up appreciating “the nice things and antiques in my grandmother’ home.” In time, he was designing for clients. “Of course, when you decorate houses, you put paintings on the walls and you advise your clients and tell them this doesn’t go here. And the client would tell you that since they did not need them anymore, could I find a buyer for them? I ended up selling for clients. From those initial transactions, I started my business. In 2010, I opened a small gallery in Corinthian Plaza. So, I put everything there that I was selling from the houses of people who didn’t want them anymore because they were transferring to smaller houses or they were leaving the country. And she asked me if I was interested to help them liquidate the collection of an insurance company. “So, I said, why don’t I just broker them if all they wanted was to liquidate the art works? That would be easier. I told myself I could probably just borrow money to buy everything and I could just sell them. “But she pointed out that the mandate of their corporation required an auction. And I had zero knowledge about auctions. So, I said, ‘What can I do? I cannot lose this.’ I mean, I had nothing to lose, so should just do it. I told them, ‘I’ll do it.’” Jaime next called Cid Reyes, the art expert and critic. “And he agreed. I had to call all my friends to help. I didn’t have the resources to hire, so it was all request. And so we did our first auction in January 2013. We auctioned everything, all 54 lots.” “The rest,” Jaime said, “is history. I started to acquire my knowledge by going to Christie’s in New York to study the courses they offered. I went to London and studied Art Law. I went to the University of Arts London (UAL). Just to get the feel and just to be able to learn as much as I can. At least I would have more knowledge because I didn’t have any background in art in school. It was his knowledge, along with his network of friends, that would lead him to more breaks. One friend who would make a big difference in his life was Dr. Teyet Pascual, in his time one of the foremost collectors of the country’s masters. It was also with this friendship that his quest for the holy grail of Philippine art would be inspired until it became a lifelong longing to find it. The following is a continuation of my interview with Jaime. Daily Tribune: What is the most important for someone to succeed in the auction business? Jaime Ponce de Leon (JPDL): You know, reputation is the most important in this business. When we were starting, it was difficult to get the trust of these old families. And you know how guarded these old families are. And here comes a new kid on the block, how can he be trusted with our most prized possessions. So, I had to build trust slowly and slowly, brick by brick. DT: Have there been issues and challenges? JPDL: Definitely. When you’re in this business, sometimes you also make mistakes. These happen when things are deemed to be not it was meant to be what it is. Any dealer who says he has not gotten through that is a liar. These things happen. But for as long as you don’t do things knowingly, you know what I mean? I mean, if you don’t do such things knowingly, the world excuses people who are honest. And I think that is essential. DT: How do you go about finding all these treasures? JPDL: You know what? It’s probably through my gut and my grit. And I tend to have the personality of someone with a thick face. Not that I would just knock at anybody’s house, but I am not shy to speak to people, to introduce myself to people. Biggest finds DT: What has been your biggest find? JPDL: Well, in terms of find, of course this Luna. DT: Well, aside from this, can you mention some names? JPDL: Well, of course, in 2015, I was able to find this cachet of Zobels that people never thought existed. I found it in Boston, somewhere in New England. I remember very well there was a party at one of the galleries and I saw Paulino Que and I saw Ken Esguerra and told them, ‘Guys, I have discovered 83 pieces of Fernando Zobel.’ Sabi nila, ‘No, impossible. How come we don’t know anything about it?’ DT: Where exactly did you find it? JPDL: In an attic. The Pfeufer collection. The collector was the guardian of Fernando Zobel in Harvard and in Rhode Island. And when I found this in the attic, I couldn’t believe what I saw. I was already two years in the business. So, I auctioned them one by one. So, it was another white glove sale. Because at that time we made the world record for the most expensive Zobel. At that time, it was just P30 to 35 million in 2015. [caption id="attachment_145551" align="aligncenter" width="525"] at Harvard Business School where Jaime is pursuing his graduate studies.[/caption] So, we were selling fantastic pieces that no one could believe it was found. I mean, how can you find in one attic 80-plus pieces of Fernando Zobel, right? So, we did that. And over the years, of course, this and that. That I would find. DT: Tell me about the Magsaysay-Hos and the others. JPDL: Almost the same. The best ones are also found abroad. The last one was a world record. We sold it for P84 to P85 million. The Jim and Reed Pfeufer collection. So, this is the one I found in New England. The Joya that we sold here, P112 million. The Joya of Josie Baldovino. I’ll tell you a story. Mrs. Baldovino, the sister of Jose Joya, and I were always close. In this business, it’s all about trust. Once you establish the trust with your client, I think you’re already one step ahead. So, Mrs. Baldovino comes to me and tells me that she was already old. She felt she was nearing her run. So, she said, “Jaime, I trust you.” So, she sent me her piece. Her beautiful piece. I went to India, I had a trip and I got a call from her, “Jaime, you know, this collector came to me and offered me P50 million for my Joya.” Of course, that amount was life-changing, It was P50 million. I told Mrs. Baldovino, “Ma’am you know, I truly respect your decision on this. It’s really up to you.” She said, “Jaime, what should I do? This is already P50 million right in front of me.” We already had it with us, so I said, “Ma’am, we will do all our best to make it sell well. But please, I will not hold you to it. I will not get in the way of your decision to sell it for P50 million. But we will do everything we can to make this sell well. Just trust us.” So, finally, she called me back, “Okay, I’ll leave my trust to you. I will leave the piece.” So, three weeks after, the auction happened. And it became the highest painting ever sold in the Philippines. It was P112 million. DT: She must have been very happy. JPDL She was able to build a building in Fairview. A beautiful building, and she was so thankful. Of course, the stars aligned, the blessings were there. DT: What is your advice to anyone who wants to invest in the arts? Which artists should they buy? JPDL: You know what, a lot of them. But, you know, my advice? First, it’s never a good thing when you buy something immediately for investment purposes. When you buy something, buy first something you like. (Enjoy it). If the price goes up, (that’s a) bonus. If it doesn’t, then you enjoy the piece. ‘Taste changes’ DT: Why are some artists expensive, and why do art works of the same artist vary in peso value? JPDL: You know, art has so many factors involved. So much variables involved. There is a conglomeration of things on why an artist becomes successful. They’re all good. But it’s dependent on certain factors. Like, mister something bought the work. People see it. People feel that he’s a good artist because mister something bought the work. He’s exhibited by the right gallery. He’s exhibited in a museum, in a fair. You know, all these, once all these variables conglomerate together, and then, viola. DT: Why do some collections sell fast and some stay with you up to the next auction? JPDL: Well, sometimes there are things that really don’t sell. I mean, probably because of the prices that we put are high. Taste changes. I’ll give you an example. Manansala was very popular in the 1980s. And everybody, all these women, they all wanted to undress themselves in front of Manansala and get themselves painted. But now, it’s no longer the taste of today. People don’t buy nudes. People don’t have themselves painted in the nude. Many people are born again. They’re not allowed to put nudes on their walls. All these reasons. So, taste changes. And it’s a cycle. Editor’s note: The Leon Gallery Spectacular Mid-Year Auction 2023 takes place today June 17, 2023 starting at 2:00 PM, featuring art works from the collections of Manila’s society doyens, Zita Fernandez Feliciano and Delly Tambunting Ongsiakio The post Jaime Ponce de Leon — Art world’s man of the hour appeared first on Daily Tribune......»»
MIF now or never
The chief obstructionist in the Senate, who was not even present when the voting took place after a marathon session that resulted in the approval of the Maharlika Investment Fund bill, is hysterically suggesting that President Ferdinand “Bongbong” Marcos Jr. veto the measure. Senate Minority Leader Aquilino “Koko” Pimentel III claimed the bill, after going through deliberations in the chamber, was full of contradicting provisions. The position he has taken exposes his dense nature as a nitpicker who should not be in the Senate. He had the chance to work for the improvement of the bill but his priority as a member of the legislature, instead, was to block its passage. Now, Pimentel is throwing dirt on the bill which his colleagues had to stay up late for, until dawn, before the congressional break, to approve. The bill was sent to Malacañang for Marcos’s signature — which will be soon considering that the President has been adamantly pushing the creation of the fund — after both chambers of Congress approved the proposal Wednesday. The Chief Executive knows that the creation of the MIF is overdue as the economy’s toughest challenge is to generate investments. Yearly, the Philippines lags behind its neighbors in Asia in terms of enticing foreign capital. The MIF will be a magnet for serious investors who look at the long-term prospects of the economy. An economist said that for serious investors, the time to invest is now when most of the global market is bad. When activity picks up, the returns will be higher, the economist explained, to debunk the warning of its detractors that the MIF will be prone to bankruptcy. The wealth fund will primarily tap government income from resources such as the Malampaya royalties that were earlier reported as having been misused. Finance Secretary Benjamin Diokno said that income from resources can also be generated from the radio frequency bandwidth that should be auctioned off instead of being awarded by the government. “Why does the government just give it away to the telcos?” Diokno asked. Another possible resource is the reclamation projects which should also be auctioned off to generate income for the government, he said. The President’s economic managers dismissed contentions that the high debt level which became bloated during the pandemic would deter interest in the MIF. “The way to look at public debt is about the economy’s size. Like a household’s income, if a family earns P20,000 and you borrow P3,000, it is manageable, but if you’re not earning anything and you have a lot of debts then you’re in trouble,” Diokno said. The debt to GDP ratio is about 60 percent, which is fairly manageable based on the current standards compared to other countries which have a 200 percent to 300 percent ratio mainly as a result of spending for programs to address the effects of the pandemic. Many of the debts are long-term, some of which stretch to a maximum term of 40 years,” Diokno said. Now the International Monetary Fund accepts as reasonable a 70-percent debt level in comparison to the economic output. In the Association of Southeast Asian Nations or ASEAN region, Singapore, Malaysia, Indonesia, Vietnam and East Timor have their equivalent of a sovereign wealth fund and these are heavily contributing to their efforts to pull in the capital. Pimentel had blown up opportunities in the past to effectively lead the chamber due to his lack of political will in spearheading changes, which had led to his colleagues withdrawing their confidence in him. Now he is trying to project that lack of inner courage onto the President who has made the MIF his crusade, by calling on him to veto the bill and return it to the House of Representatives. Politics has been blamed for the nation’s failure to realize its full potential, which is best mirrored in Pimentel’s obstructionism. The Senate has put up enough safeguards for the MIF to be shielded from the threats of corruption. Moreover, the overwhelming support of the legislature for the sovereign wealth fund indicated the acknowledgment of elected officials of the need for the fund. Several foreign financing groups have indicated their interest in the MIF, which in themselves are opportunities that will be lost, perhaps with rival economies grabbing them, the longer that the approval of the MIF is delayed. The post MIF now or never appeared first on Daily Tribune......»»
AI, blockchain players enter Phl cyberspace
Asian players in the blockchain and artificial intelligence industry are sharing their expertise from their particular fields in transforming the Philippines into a digital technology-integrated nation. Companies such as Xtreme Business Enterprise and Marvion & Coinllectibles have joined forces with Philippine-based Smart Citi Teknologi in launching three integrated projects dubbed the “Philippine Stable Coin Project”, the “Blockchain-enabled Membership Program for Sustainable Tourism”, and “Investing in a Promising Future: Philippines Art and Heritage” — all set to roll out this July 2023. During a media launch at the Manila Hotel last Tuesday, Julian So, the chief executive officer of XBE Group, said the “Philippine Stable Coin Project” is considered to be a game-changing initiative aimed at revolutionizing the financial sector in the Philippines. Measure to alleviate poverty “It was initiated as a measure to alleviate poverty and improve financial inclusion in the country. The project aims to provide a stable and reliable medium of exchange to the unbanked and the underbanked population, who often have limited access to financial services,” So said. According to So, the key feature and benefit of the Philippine Stable Coin is that it is decentralized, which means that transactions can be carried out directly without intermediaries, increasing transparency and ensuring security. “Also, the Philippine Stable Coin is fast and efficient, as the use of blockchain technology ensures fast and efficient transaction processing, facilitating instant settlement and enabling low-cost remittances. It is also stable and reliable as the coin is pegged 1:1 to the Philippine peso, making it stable and minimizing the risks of volatility that are commonly associated with traditional cryptocurrencies, and borderless, as the Philippine Stable Coin can be used across the world, eliminating the need for currency conversions, and enabling seamless cross-border transactions,” So explained. Smart Island Meanwhile, the “Blockchain-enabled Membership Program for Sustainable Tourism” project aims to develop a Smart Island in Roxas, Palawan which is envisioned to be a world-class, high-tech and business and leisure destination. “Through the use of blockchain, we aim to create a sustainable and forward-thinking development that will bring economic and social benefits to the region,” said Joshua Chu, chief regulations officer of Marvion & Coinllectibles. He said the membership program focuses on promoting eco-friendly practices, including using biodegradable products and reducing energy consumption, as the island’s natural beauty and sustainability practices make it the perfect location for a luxury membership program. Auction House For his part, Mario Marcos, the founder and chief executive officer of Smart City Teknologi, said the third project — ”Investing in a Promising Future: Philippines Art and Heritage” — seeks investment and interest in a prestigious European Auction House, a gateway in promoting and exporting the beauty of the Philippines arts, heritage and culture to the world. “The auction house will set out to create the world’s first blockchain, AI and Environmental, Social and Governance-powered auction house that meets the needs of modern buyers and sellers. In addition, the adoption of ESG principles in the auction process will promote environmentally friendly and sustainable transactions that positively contribute to preserving the future of the assets being auctioned,” Marcos said. The post AI, blockchain players enter Phl cyberspace appeared first on Daily Tribune......»»
New York’s landmark ‘Flatiron’ sold — hopefully for real this time
New York's iconic Flatiron Building was auctioned off Tuesday for $161 million to a group of investors led by real estate developer Jeffrey Gural, after the previous bidding's winner failed to complete the transaction, organizers said. The sale of the world-famous skyscraper took place outdoors in lower Manhattan with seven bidders registered and about a hundred people present, Mannion Auctions told AFP. The property -- on a wedge-shaped lot at the intersections of Fifth Avenue, Broadway and 22nd Street -- went to Gural, 80, one of its five current owners, who was the second highest bidder during the highly contested previous auction. On 22 March, little-known bidder Jacob Garlick, founder of the Abraham Trust equity venture fund, obtained rights to the Flatiron with a pricey offer of $190 million but missed a deadline to pony up 10 percent of the money to lock in the purchase. The 121-year-old property -- one of the first skyscrapers in Manhattan, designed by renowned Chicago architect Daniel Burnham -- has been empty since its last tenant left in 2019. Its five owners could not agree on what to do with the building, and a judge ordered its auction. After Garlick pulled out of the deal, the building could have automatically gone to Gural, who had offered $189.5 million in March, but he opted for a new auction to be held. The 22-story triangular edifice completed in 1902 was revolutionary for its time, built on a steel skeleton and clad in limestone and terra cotta with touches of both beaux arts and Renaissance revival architecture. The post New York’s landmark ‘Flatiron’ sold — hopefully for real this time appeared first on Daily Tribune......»»
New Ayala wind project opens in Ilocos Norte
President Ferdinand R. Marcos, Jr. on Friday led the inauguration of the Ayala-owned P11.8-billion Pagudpud Wind, a project that is shaping up to be the country’s largest wind farm. “Buenas tayo (We're lucky) that we have the potential for the wind farm. When I became governor, there were so many groups that came before and presented the wind map showing the potential in Ilocos Norte. Now, we have this expansion, which is the biggest single wind farm project in the whole of the Philippines,” Marcos said during his speech at the inaugural ceremony. Citing the urgent need for clean energy in the market, Marcos also encouraged more investors and developers to expand their renewable energy portfolio “We need new technologies, we need to continue to work on all sources of renewable energy…. We have to adjust to climate change and adapt to the effects of climate change,” he said. “The time will come, hopefully soon, that we adjust our power mix in favor of renewable energy,” he added. ACEN Corp., the publicly listed energy arm of the Ayala Group, completed Phase 1 of the wind project, which has 80-MW capacity, in the first quarter of the year. The company expects to commercially operate the entire 160-MW Pagudpud Wind before the end of December 2025. Once the project is fully complete, it will be the country’s largest wind farm, which can help power 123,875 homes and cut approximately 344,600 metric tons of carbon dioxide emissions annually. Pagudpud Wind is ACEN’s third wind development in Ilocos Norte, along with NorthWind in Bangui and North Luzon Renewables in Pagudpud. ACEN already secured a long-term market for the project through the Green Energy Auction Program of the Department of Energy auctioned in June 2022. “We're proud that ACEN remains at the forefront of renewable energy in the Philippines. We see this as a meaningful contribution to our national target of achieving a 35 percent share of renewables to our total power output by 2030, from the current level of around 22 percent,” Ayala Corporation chairman Jaime Augusto Zobel de Ayala said during his speech. “We thank the province of Ilocos Norte for the continued trust and support for pioneering and critical infrastructure projects,” he added. According to ACEN, its Pagudpud Wind project is different from other wind developments in the country because it uses the latest wind technology, Siemens Gamesa 132 and 145. It also comprises 32 wind turbine generators, each capable of producing 5 MW of power. The project also includes a 115kV centrally located substation and a transmission line connecting to NLR's existing transmission line in Bangui. Since it kicked off the construction of the project in 2019, ACEN has generated 1,200 jobs for Filipinos. Including the NorthWind and NLR, the ACEN corporation has created 4,030 actual jobs, both in operations and in construction, in Ilocos Norte since 2014. To date, ACEN has the largest wind portfolio in the country at 416MW — 266MW in operation and 150MW under construction. Of these, almost 90 percent are in Ilocos Norte. The post New Ayala wind project opens in Ilocos Norte appeared first on Daily Tribune......»»
Mga taong malapit kay Cristine botong-boto kay Marco: ‘Deserve niya ang lalaking paninindigan siya’
MAY mga nakatsikahan kaming naging parte ng buhay ni Cristine Reyes at masaya sila para sa aktres sa relasyon nito kay Marco Gumabao. Masaya dahil pagkalipas ng ilang taong pagiging single simula nang mahiwalay sa asawang si Ali Khatibi ay nakatagpo na siya ng lalaking magmamahal sa kanya at sana for good na. “Deserve naman […] The post Mga taong malapit kay Cristine botong-boto kay Marco: ‘Deserve niya ang lalaking paninindigan siya’ appeared first on Bandera......»»
Risky exposure (1)
In a review of banks’ exposure in energy projects, undertaken by the environmental think-tank Center for Energy, Ecology and Development, conglomerate San Miguel Corporation’s energy arm SMC Global Power Corp., which maintains a host of power plants, including those using coal as fuel, received prominent space. In the discussion, the dilemma that banks face was brought to light amid their financial exposure to SMCGP that may be affected by the maneuvers of SMC and its subsidiaries to, ironically, turn around the unfavorable state of the group. It said that apart from issues of supply, local fossil fuel companies are also feeling the impact of volatile fuel prices. SMCGP, the report said, suffered P15 billion in losses in 2022 due to the rising prices of fossil fuel. In May 2022, two of SMCGP’s subsidiaries filed motions for price adjustment before the Energy Regulatory Commission due to the rising fuel costs that they claimed they could no longer bear and wanted to pass on to consumers. The motions, according to the report, have since been denied, and SMC has brought the matter up to the Court of Appeals. Following the ERC denial of the price adjustment petitions, a Bloomberg intelligence report was released finding that SMCGP risks a funding shortfall as high as $1 billion by next June. The same intelligence report also projected that SMCGP’s current coal exposure might make refinancing more difficult and more costly, as investors increasingly shun coal-fired power plants as a result of the international effort to remove polluting fossil fuel as an energy source. Last year also saw SMC withdrawing the ECC applications for the three proposed fossil gas projects in the Visayas, including a liquefied natural gas project in Negros Occidental that had originally targeted a 2022 commissioning date. Despite its already large fossil fuel portfolio, the report said SMCGP issued Series K Bonds due in 2025, Series L. Bonds due in 2028, and Series M. Bonds due in 2032 with a principal amount of P30 billion and an oversubscription option of up to P10 billion in July 2022. Part of the proceeds of these bonds are allocated for SMCGP subsidiary-owned fossil fuel projects, including the Mariveles Power Generation Corporation’s four 150 megawatt or MW circulating fluidized bed coal-fired power plant in Mariveles, Bataan and Excellent Energy Resources Inc.’s 1.3 gigawatt or GW combined-cycle LNG power plant in Barangays Ilijan and Dela Paz Proper, Batangas. Recently, however, Manila Electric Co. or Meralco announced the termination of its power supply agreements with two subsidiaries of SMCGP, Excellent Energy Resources Inc. and Masinloc Power Partners Co. Ltd. The same power supply agreements would have secured revenue for the two SMCGP power plants to be financed by these bonds. Since the contracts were terminated, these subsidiaries would have to go through the competitive selection process again, where it will be up against fossil fuel and renewable energy or RE generation projects. According to the CEED report, the banks that purchased bonds had essentially exposed themselves and their shareholders, to whom they have a fiduciary responsibility, to fossil fuel projects “at risk of stranding.” “Changing policy, economic, geopolitical, and energy landscapes in the country and around the world demand that banks and financial institutions pay closer attention to and take the necessary action to mitigate these risks and protect their shareholders.” The report indicated that important developments show the tide turning in renewable energy’s or RE’s favor locally. According to the DoE, the Green Energy auction program will hold its second round of bids in June this year. The country will auction off rights to build 3,600 megawatts or MW of new capacity to be installed in 2024, 3,600 MW in 2025, and 4,400 MW in 2026. In all, this will result in an additional 11,600 megawatts of RE on top of the 2,000 MW auctioned off last year, an unprecedented scale of development for renewables in the country. (To be continued) The post Risky exposure (1) appeared first on Daily Tribune......»»
Lolit Solis botong-boto kina Kris Aquino at Mark Leviste: Sana ito na ang matagal niyang hinihintay
UMAASA ang talent manager at kolumnistang si Lolit Solis na makakatuluyan ni Queen of All Media Kris Aquino si Batangas Vice Governor Mark Leviste. Sa latest Instagram post, mababasa na tila botong-boto si Manay Solis sa dalawa. Sey pa nga niya, “Matutuwa ako Salve kung totoo na may special something sila Kris Aquino at Mark […] The post Lolit Solis botong-boto kina Kris Aquino at Mark Leviste: Sana ito na ang matagal niyang hinihintay appeared first on Bandera......»»
CT-TODA to owners: Redeem impounded motorcycles or these will be auctioned
MANDAUE CITY, Cebu — A total of 100 motorcycles that are now stored at the Talisay City impounding area will already be auctioned soon. Jonathan Tumulak, head of the City of Talisay Traffic Operations and Development Authority (CT-TODA), is asking the owners of these motorcycles to visit their office before the auction date would be […] The post CT-TODA to owners: Redeem impounded motorcycles or these will be auctioned appeared first on Cebu Daily News......»»