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Power fluctuations hit NAIA
Passengers sweltered as power fluctuations hit the Ninoy Aquino International Airport Terminal 2 at around 10 a.m. yesterday......»»
MIAA sees over 1 million arrivals this Holy Week
The Manila International Airport Authority is expecting an influx of over one million passengers this coming Holy Week......»»
Half of finance work could be AI by 2030
Dear Editor, The G.M.A. Integrated News unveiling of A.I. sportscasters Maia and Marco last 24 September captivated many people during the start of the National Collegiate Athletic Association or NCAA Season 99. This groundbreaking introduction sparked intense discussions on social media about Artificial Intelligence’s potential implications on journalism’s future. People expressed a mix of excitement and apprehension, highlighting the need for further exploration and understanding of AI’s role in shaping the field of journalism. As Artificial Intelligence advances at an unprecedented rate, it is not only in journalism where AI can automate work. According to McKinsey, by 2030, approximately half of the finance work could be automated. This automation will bring opportunities and challenges, as AI can streamline processes and improve efficiency. The finance areas that have already started to be automated are the banking and financial institutions, risk assessments, credit scoring, customer service, and market sentiment analysis. In banking and financial institutions, an AI called KAI-GPT can auto-detect risks, generate insights, and make financially literate recommendations. Launched on 31 May 2023, KAI-GPT is the world’s first banking-specific large language model designed to address the industry’s unique accuracy, transparency, trustworthiness, and customization needs. The KAI-GPT provides a human-like, financially literate response. Westpac, Australia’s first bank and oldest company serving more than 12 million customers, is in the process of implementing KAI. Meanwhile, in risk assessment, the tool DataRobot AI can simulate potential fraud scenarios and detect credit risks, fraud risks, and market volatility. Using predictive and generative DataRobot AI improves the technical ecosystem in Financial Services. Sanlam, Africa’s largest non-banking financial institution, uses DataRobot AI, resulting in more streamlined and transparent solutions, driving critical business value levers such as sales and client retention. In the finance area of credit scoring, the Personetics and AIO Logic can detect risk, determine rates, and structure customer loans. Personetics serves over 140 banks and financial institutions across 30 global markets, reaching 135 million banking customers. United Overseas Bank, a Singapore-based Banking and Financial Services organization with 24346 employees and revenues of $9790000.00 billion, uses Personetics. AIO Logic is well known as an AI for Automated Payment Management, Automated Balance Management, Automated Accounting, Complex Structures, Automated Invoicing, Automated Reporting and Analytics. These two credit scoring AI can also assess customers’ creditworthiness and set credit limits. In customer service, robo-advisors, chatbots, and virtual assistants provide a conversational system fit for financial planning assistance. Robo-advisors offer financial advice and limited human interaction, which appeal to Generation Z, who have virtual interactions with advisors and are increasing interest in novel assets like cryptocurrency. The AI is now also in market sentiment analysis, and Bloomberg G.P.T. shows how to automatically analyze news, articles, social media and other classified textual data. Launched on 30 March 2023, Bloomberg GPT is a significant language model with 50 billion parameters trained explicitly on a wide range of financial data. It can perform market sentiment analysis and even help manage investment portfolios. These advancements in AI technology have the potential to significantly streamline and automate many tasks in the finance industry, reducing the need for human intervention. The applications of generative AI in Finance will be widely seen in regulatory compliance and reporting, financial forecasting, portfolio optimization, anti-money laundering and algorithmic trading. However, it is essential to note that while AI can enhance efficiency and accuracy, it is not a substitute for human expertise and judgment. Human oversight and decision-making will still be crucial in navigating complex financial landscapes and ensuring AI technologies’ ethical and responsible use. Still, job displacement in finance may occur, and the need to upskill the workforce is now paramount. Arnel Lopez Cadeliña arnelcadelina@gmail.com The post Half of finance work could be AI by 2030 appeared first on Daily Tribune......»»
Metrobank gets global recognitions for exceptional performance
Built on trust, Metropolitan Bank & Trust Co. has been recognized as the Strongest Bank in the Philippines by The Asian Banker for the third straight year and the Best Domestic Bank in the country by Asiamoney. This attests to the Bank’s strength and reliability in putting its clients in good hands. The Bank gained these prestigious international recognitions from The Asian Banker and Asiamoney for its consistent strong financial performance across the board. In the first half of 2023, Metrobank maintained a strong 34 percent growth in net income of P20.9 billion, fueled by the Bank’s expanding assets, enhanced margins, and robust fee income growth while sustaining a stable asset quality. One of the World’s Best Companies On top of these awards, the Bank was also listed by TIME Magazine and Statista as one of the World’s Best Companies. The “World’s Best Companies” is a comprehensive list that ranks top performing companies across the globe based on employee satisfaction, revenue growth, and sustainability. “We’re honored to receive these back-to-back recognitions, especially as we celebrate the Bank’s 61st anniversary. At Metrobank, we always strive for excellence — whether it be in addressing our clients’ needs, achieving exceptional financial performance across our business, or contributing to nation-building. These awards are testaments to the steadfast commitment and relentless drive of each Metrobanker to keep Filipinos in good hands,” said Metrobank president Fabian Dee. Reliable partner through Filipinos’ financial journey For decades, Metrobank served as a reliable partner for Filipinos throughout their life journey — providing them financial services and guidance that are tailor-fit to their needs, even as they now navigate a modern and digital world. But before offering them a product or a service, every Metrobanker ensures that their clients fully and clearly understand the financial products and services they will avail of. The Bank’s mission to enable Filipinos throughout their financial journey goes beyond simply offering relevant solutions. Despite its financial success, the Bank’s priority and advocacy is to educate Filipinos first as they step into their financial journey. This is to make sure that every client makes a fully-informed financial decision and know how to protect themselves against fraud. This is made evident through Metrobank’s sustained financial education efforts — designed to equip Filipinos with reliable financial advice, fit for every life stage. In 2022, Metrobank introduced a comprehensive personal finance e-book developed to help Filipinos to become financially resilient. Meanwhile, the Bank’s Earnest app aims to simplify investing, through bite-sized lesson cards and easy-to-understand articles that cover basic investing concepts. For more advanced investors, there is Wealth Insights, an online portal that contains publicly accessible market-moving news and insights, as well as exclusive premium content that includes bespoke articles which dive deep into timely and actionable investment ideas. Meanwhile, Metrobank provides its clients with regular reminders and guidance to protect themselves against fraudulent transactions via SMS, emails, and social media posts. Today, Filipinos can easily start their financial journey by going to Metrobank’s hundreds of branches nationwide or digitally via the Earnest app. Those aiming to further grow their funds through investments can do so with Metrobank’s Online Time Deposit, which offers an interest rate of up to 4.5 percent, or through Metrobank’s wide-range of unit investment trust funds (UITF). With its commitment to give customers a safe, simple and secure experience on the NEW Metrobank app, the Bank recently introduced its interoperable QR feature, which allows on-the- go clients to enjoy more convenient fund transfers to and from other banks and e-wallets. Meanwhile, clients who are ready for a life upgrade - be it a new car or their dream home, can avail of Metrobank’s home and car loan offers with affordable rates and flexible payment terms. Growth partner for businesses Metrobank’s services transcends from customers to enterprises. When Metrobank was founded in 1962, it was primarily built to be a bank for businesses. Over six decades later, the Bank continues to stay true to its roots by offering a full suite of best-in-class financial solutions designed to serve enterprises of all sizes — from SMEs to large corporations based here and abroad. The post Metrobank gets global recognitions for exceptional performance appeared first on Daily Tribune......»»
Pinoy’s got talent
“That’s cool, Attorney,” said Mr. Arico “Acoy” Matibay, a fictional client of mine from the Philippines. He was sitting in my office along with his long-time sweetheart, Ms. Dinah Sia Maasim, seeking legal advice about their chances of getting a green card in the US. “So, if we have special talents or skills that are way above what ordinary people have, we can apply for a green card?” interjected Ms. Maasim, who could not mask the excitement on her face. “Yes,” I replied. “But there are a number of requirements that need to be met in order to qualify for this type of visa. Number one is that exceptional talent or ability should pertain to the arts, sciences, or business. Number two is there should be an employer willing to sponsor the person.” I explained further that this type of sponsorship was relatively faster because it belonged to the EB-2 immigrant visa category with only a one-to-two-year waiting period for a green card. Also, the application could bypass the labor certification process and be filed directly with the US Citizenship and Immigration Services if accompanied with proof that the person had international acclaim or recognition in his/her field of specialty, that he/she performed or possessed the special skills within the past year, and that the exceptional ability would be put to use in the US immediately. “To prove these things,” I continued, “you can submit evidence of awards or prizes, certificates of membership in international associations, published materials about the work or talent, authorship of scientific or scholarly articles, proof of participation as a judge or panel member, etc.” “In addition,” I went on, “at least three of the following types of documentary evidence must be submitted: an academic record of diploma, award, or certificate, letters showing at least 10 years’ full-time experience in the specialty field, license or certification to practice the profession or occupation, proof of high salary commensurate with the exceptional skill, proof of membership in professional associations, or evidence of special recognition from industry peers or governmental organizations.” After I finished talking, the couple exchanged excited glances and smiled at each other, their faces beaming with satisfaction. Mr. Matibay spoke first: “Thank you for the explanation, Attorney. I think we can meet most of the requirements.” “Our special talents have made us somewhat popular in Asia,” added Ms. Maasim, smiling. “We’ve also received awards from the industry, plus we’ve been very active in performing our special skills this past year. We also intend to use our exceptional talent here in the US. In fact, there’s an employer/producer who’s very much willing to put us to work as soon as possible.” “Not only that,” continued Mr. Matibay, “we’re also members of a professional film group that sometimes act as panel judges for amateur movie contests. We’ve been doing this gig for 15 years now and we’re among the top five percent of high-earners.” “That’s quite impressive,” I said. “May I ask what is it that you guys both do?” “We’re acrobatic porn artists, Attorney,” replied Mr. Matibay proudly. “We do triple-X movies and live shows. Our most popular segments are the Torture Chamber and Banana Split. We also do Jose and the Pussycats. Last year, we did a Covid special called Strep Throat. We actually have a demo tape with us, Attorney. It’s called The Magic of Johnson and Larry’s Bird.” My head started spinning and it took me a while to find the courage to tell them that the US did not consider porn acrobatic talent as a skill of exceptional caliber for EB-2 sponsorship purposes. Sexceptional ability maybe, but exceptional ability certainly wasn’t. I advised them to try their luck in Russia instead. The post Pinoy’s got talent appeared first on Daily Tribune......»»
Aboitiz Group furthers ‘Great Transformation’ into 2023
The Aboitiz Group has seen exceptional performance in the first half of 2023, showcasing its "Great Transformation" into the Philippines’ first techglomerate. Leveraging innovation as well as synergies across its diverse business portfolio, the group has solidified its position as a trailblazer of industry. With a strong foundation in place, the Aboitiz Group eagerly sets its sights on forthcoming projects that promise further success and innovation. AboitizPower. The Aboitiz Group’s holdings in power generation and distribution, AboitizPower, continues to support the country’s energy transition and socioeconomic development with its diverse portfolio of thermal and renewable energy power plants, as well as internationally certified asset management capabilities from its distribution utilities. With close to 1,000 megawatts (MW) of ongoing and disclosed energy projects, it is en route to accomplishing its 10-year growth strategy of having at least 9,200 MW in its generation portfolio equally split between RE and thermal sources of energy by the next decade. This journey includes the development of the 17 MW Tiwi Binary Geothermal Power Plant, the 94 MW Cayanga-Bugallon solar facility, and the 167 MW Laoag solar facility. AboitizPower is also looking to begin the construction of its Calatrava Solar project and Olongapo Solar project within the year. These RE investments are complemented by other developments in Battery Energy Storage Systems, like the SN Aboitiz Power 24 MW Magat Battery in Isabela, which — much like the commercially operational 49 MW Maco Battery in Davao de Oro — will help provide regulating and contingency reserve power to the country’s grids. Subsidiaries. Meanwhile, subsidiaries Davao Light and Power Company, Visayan Electric Company, Cotabato Light and Power Company and Subic EnerZone Corporation were the first power DUs in the Philippines to be certified with an ISO 55001:2014 certification for Asset Management, an international standard that attests to the efficiency of how they manage the lifecycle of their assets, i.e., power lines, transformers and substations. This validates the reliability of their services and strengthens the uninterrupted provision of electricity in their respective service areas. Efficient asset management is essential for DUs to successfully manage their infrastructure and optimize maintenance and costs, thereby ensuring regulatory compliance and a reliable bridge between transmission lines and businesses, communities and homes. UnionBank. Union Bank of the Philippines continues on its trajectory of becoming a Great Retail Bank as it has consistently been recognized as one of Asia’s leading companies. Among the many recognitions for the 1st half of 2023 that UnionBank has reaped are: Best Retail Bank in Southeast Asia (Cfi.co), 4-time Best Retail Bank in the PH (The Asian Banker) and 6-time Digital Bank of the Year PH (The Asset). In line with its nation-building “Tech-UP Pilipinas” advocacy, UnionBank’s strategic partnerships have been focused on digitization as an essential element for client success. UnionBank’s determination to be an enabler of the Philippines’ bid to be a G20 country by 2050 is apparent as it continues to nurture and grow its diverse client portfolio that includes corporate, MSME, high net worth as well as local and national government entities. As a recognized trailblazer that embraces technological innovations that empower its customers, UnionBank together with its digital banking arm UnionDigital Bank (UnionDigital), fintech arm UBX and thrift arm City Savings Bank (CitySavings) showcased its expertise in artificial intelligence at the first AI Summit PH 2023 last May. The first half of the year also saw UnionBank’s commitment to offering clients amazing and exclusive experiences through partnerships with Live Nation (for world-tour concerts) and GMG productions (for the Hamilton musical). “The investments we made last year have exceeded our expectations. UnionDigital is already profitable after less than a year in operation. There is strong momentum in the acquired credit cards business from Citi. New-to-bank card customers are at a record level. We are geared up to grow our retail banking business. Our infrastructure is ready for scale. We have sufficient capital coming from the recent stock rights offering to further grow our earning asset capital base,” said UnionBank president and CEO Edwin R. Bautista. Aboitiz InfraCapital. Aboitiz InfraCapital remains on track with its purpose of enabling businesses and uplifting communities. AIC Economic Estates maintains its position as the leader in industrial-anchored mixed-use development nationwide, with the largest footprint of developed industrial estates as well as the single largest privately owned industrial estate in Lipa-Malvar, Batangas– LIMA Estate. 2023 marked LIMA Estate’s 25th anniversary, as well as the 30th year of West Cebu Estate in Cebu. These estates are undergoing industrial and commercial expansion to accommodate more locators and create approximately 90,000 employment opportunities. Water business. For AIC’s water business units, Apo Agua can now produce safe and reliable water for the Davao City Water District’s water reservoirs. Apo Agua’s laboratory has also obtained accreditation for drinking water analysis from the Department of Health. AIC's LIMA Water, on the other hand, continues to operationally benefit from its SMART Water Network, leading to reduced fuel consumption and high facility uptime. Digital infrastructure. In the digital infrastructure landscape, Unity Digital Infrastructure completed the first closing of a total of 250 sites from its acquisition of over 1,000 telecom towers from Smart-PLDT and Globe Telecom. Additionally, Unity marked a major milestone by successfully co-locating three Mobile Network Operator tenants (Globe, Smart and DITO) in one of its towers in Cebu. The three-tenant tower is the first in the Philippines and showcases the effectiveness of the shared tower model in support of the government's drive to improve digital connectivity through the common tower initiative. Mactan-Cebu International Airport. Mactan-Cebu International Airport surpassed expectations with significant growth in passenger traffic, peaking at around 5 million passengers in the first half of this year, more than double the previous year. The resumption of major international routes, such as Shanghai and Taipei, and improved aircraft availability are expected to further boost traffic in the second half of the year. MCIA's excellence in promoting the airport and in ensuring customer experience was also recognized, as it received the Routes Asia 2023 Marketing Award in the 5 million category and became the first airport in the Philippines to be accredited by the Airports Council International for its Airport Customer Experience. The post Aboitiz Group furthers ‘Great Transformation’ into 2023 appeared first on Daily Tribune......»»
Tingting Cojuangco — Christian Espiritu’s ultimate muse
Through the years of Philippine fashion history, Margarita “Tingting” de los Reyes Cojuangco has always been known as the muse of the iconic Filipino designer Christian Espiritu who recently passed away. Theirs is a friendship that had stood the test of time. Tingting was named one of the 100 beautiful women of the world by the international magazine, Harper’s Bazaar, on the occasion of its 100 founding anniversary. During the early years of the 1970s, she made it to the Hall of Fame of Manila’s Best Dressed List, an annual selection initiated by the old guard of Philippine fashion, among them Ramon Valera, Salavacion Lim Higgins of Slim’s, Pilar Romack of New Yorker Gown Salon, and Imelda Reyes of Milie’s Gowns. In the 1980s, Tingting, who graced the social pages as a teenager and a young matron, transformed into a new woman, this time as a street activist braving the firecanons and tear gas, a Yellow campaigner in the South, and finally a graduate student and scholar specializing in the ethnic muslim communities of Cotabago and Zamboanga. She would cap this with a National Defense College master’s thesis on the then rebel Moro Islamic Liberation Front. Through it all, she kept her friendship with the man who first showed the world her potential. Christian saw in Tingting, this gangly yet beautiful teenager, a lady worth grooming and turning into an icon of fashion. Tingting thus became Christian’s muse. Chosen by her mother and grandmother, Christian made her outfit for her high school prom at Maryknoll College. It was the beginning of a lifelong friendship and collaboration that would pass through social, political and economic upheavals in this country. No matter, they were constant in each other’s lives, not minding intrigues, the cycle of fortunes and The recent demise of her original mentor and designer, Christian, brought Tingting out of her reculsive and quiet life to share with the Daily Tribune her memories of the designer who streamline Filipiniana, incorporating his knowledge as a graduate of architecture. The interview with Tingting Cojuangco follows: “He launched my modeling career” Daily Tribune (DT): How did you meet Christian? Did you go to him for your teenage formal dresses, and not only during your wedding? Tingting delos Reyes Cojuangco (TRC): My mom and grandma Lucia “Dada” admired the simplicity of his designs on the Christian Espiritu shop on their way to fetch me from Maryknoll College. [caption id="attachment_148162" align="aligncenter" width="525"] CHRISTIAN and Tingting photographed by Jaime Zobel de Ayala.[/caption] The display changed constantly but the clothes were cut simply along the revered lines of Audrey Hepburn’s and Jackie Onassis. His below the knee dresses were sleeveless, with a boat collar, 2-pin tucks under the bust accentuated the waist and hips that ended in semi straight skirt. Mom brought me into his shop at age 15 it was called “Christian” for Christian Espiritu. He launched my modeling career at 16 years old with Gilbert Perez who taught me how to pose. Mother always reminded me, a pretty face looses attraction if the voice isn’t modulated or manners are impeccable and courteousness for elders. Christian reinforced Mom’s belief, simplicity are carried off with poise, beauty and elegance. Christian’s creativeness suggested taste with ease and wealth subdued characterizing by minimalism. DT: Tell me about that wedding gown. Why did you choose him and not Valera or one of the stalwarts of the era? What was his inspiration for the gown? What did you tell him about your preferences? TRC: He made my wedding gown and the whole entourage. My in-laws wanted my wedding gown to be made by Valera a great designer of his time. But I insisted on Christian. For my wedding gown he sketched the simplest white gown, it turned out he had sequins sewed on the satin fabric one by one. He put a sheer fabric organza on top of the gown. It was very elegant for my morning wedding as the sequins shined different colors depending on the lights. That was his precision. For my wedding Christian was at home with his assistant Romulo Estrada. I recall Inno Sotto as his right hand, both dressed me up constantly. Did I have a preference in designs? He said “bahala na ako” and I agreed. That was trust and loyalty. He designed my dresses with simplicity, cut perfectly, shaping my thin body whether it was a day dress or gown. “His dresses were cut perfectly.” DT: When you were married already, did you still see him for your outfits? Which of the dresses and gowns he made for you do you remember? TRC: Yes, we had a friendship of two family’s compadres and ninangs. He did China’s wedding gown of gray and pink even if he claimed he was retired. I forced him. DT: What made him an outstanding designer? TRC: Simplicity. His dresses were cut perfectly and fabrics that didn’t crumple with pin tucks here and there. With the timelessness in the designs and his execution I could wear Christian’s couture clothes for many years. DT: You are in the Best Dressed Hall of Fame. Was he among the designers that you admired and commissioned to do your dresses? TRC: Yes and our friendship developed through the years and confidence. He never spoke bad of anybody. He would just put his hands together and smile. DT: Any unforgettable creation of his exclusively for you? Can you describe some of the gowns and dresses he made for you? TRC: I had a satin dress with a round Chinese emblem and tassel. His clothes for me were stand outs…my gowns for formal functions were of full skirts. “He said, ‘The language of fashion is refined, cultured and well-mannered.’” DT: When was the last time you saw him? Tell us about that last encounter with him. TRC: At an Elegant Women event in Diamond Hotel, Elegance…Merriam-Webster defines it as “refined grace or dignified propriety; tasteful richness of design or ornamentation; restrained beauty of style.” The Cambridge Dictionary writes “graceful and attractive in appearance or behavior.” When the project of elegant women first came up, it was for me to make a list of best dressed women. It had been done too many times now without a conclusion. I figure that there are many Filipinas who have the perfect body for dressing, who dress and accessorize well – but money and a stylist can do that. And, as the cliché goes, money cannot buy class. So, the concept evolved and we agreed on making a list of The Elegant Filipina. We also decided that, first, this project would be for a cause, and second, that I would be allowed to redefine the meaning of elegance to inspire others to contribute to one’s community, society and country by being an elegant example. While the list was handpicked by me, I sought advice to validate my choices. This panel was composed of designer Christian Espiritu, fashion entrepreneur Tina Ocampo, Monaco Consul Fortune Ledesma, Philippine Tatler’s Editor-In-Chief Anton San Diego, and Managing Editor Chit Lijauco and Pete Cura. We defined an Elegant Filipina as: He said “The woman at the center of attention knows that the language of fashion is refined, cultured and well-mannered; Commands respect in her chosen field; leaves a legacy of power and grace, beauty and sophistication, wisdom and compassion.” At the first Elegant Women event, he was elegant in his suit with a scarf wearing his trade mark of silver bracelets or varied silver rings. I called him three weeks ago and we promised to see each other. It didn’t happen. “He never mixed politics with art.” [caption id="attachment_148158" align="aligncenter" width="525"] A PORTRAIT of Christian Espiritu by Jaime Zobel de Ayala, 1987.[/caption] DT: He turned his back on his number one client, Imelda Marcos, after Ninoy died. Were you ever with Christian during the Anti-Marcos rallies? Do you recall if he was in EDSA? TRC: Christian was calm, well educated, schooled and respectful. He wouldn’t hurt anyone’s feelings. Never mixed politics and arts. I don’t know about that. I was not with Christian rallying. For rallies I only wore blue jeans or khaki pants and trubenized blouses made of cotton white t-shirt. DT: Who are his other clients from your social set? Who were his loyal customers. TRC: I don’t know. I didn’t care nor ask. That’s not my concern. DT: How did your relationship evolve in the latter years of his life? TRC: I love him. He was part of my growing up and getting old. DT: What do you think was his greatest contribution to Philippine fashion? How did he influence the Philippine fashion industry? TRC: He kept piña alive and the Paranaque bordaderas working day to midnight in their livelihood of Filipino tradition. He used muted colors of fabric. He made women look elegant and desired without showing of their bodies. I agreed that elegance can be expensive. But elegance can be inexpensive too, but confidence and amiability are the key factors. The post Tingting Cojuangco — Christian Espiritu’s ultimate muse 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......»»
Katrina Ponce Enrile: A woman worthy of her name
Anyone who had come of age in the late 1970s and the 1980s would surely know about the most famous names and faces of the younger set of the era known for the coming of age of feminism and women’s lib. The 1960s may have ushered in a cultural revolution but it was in the succeeding decades that the cataclysmic events of the decade that was, in the Philippines, would manifest in the ways and attitudes of Filipino women. I mention this phase in our history because I am sharing my thoughts on one woman whom many consider as one of the country’s most powerful, influential and successful. She is Katrina Ponce Enrile. I may not privy to the growing-up years of Katrina Ponce Enrile, and I would not have the advantage of seeing her from the point of view of someone old enough to observe the growth of a child, but as a teenager, I would occasionally read about her and see her on photographs published in newspapers and magazines, although not too frequent. I just knew she was not only well-bred and beautiful in the mestiza sense being the daughter of a striking beauty of a mother (and the granddaughter of a handsome playboy of a paternal grandfather), but that, she too was brilliant. I would assume that she got her brains from her father, one of the wonder boys of the Marcos administration. Katrina would, in time, be mentioned in juicy gossip now and then, but it was her smarts in enterprise and management that she would eventually be recognized, this notwithstanding the controversial stories that one occasionally heard of her family members. [caption id="attachment_134172" align="aligncenter" width="525"] KATRINA Ponce Enrile has always lived up to her parents ‘ expectations.[/caption] ‘Treat everybody with respect’ But to imagine her childhood and teenage years, one would suppose that for all the comforts that she might have enjoyed while living first in Urdaneta and then Dasmarinas Village, she had had to assert herself, she had once been overheard to say: “At 10, I had to fight a little bit harder to be heard” -- which was expected if one were the only daughter of a famous lawyer of a father and a lovely talented mother, herself a respected stage actress. But no matter that she had to deal with being the daughter of awe-inspiring parents, what she had been showered with, aside from her parents’ affection, was well-meaning advice. For one, it was from her dad and mom that she first heard the word of wisdom. “Treat everybody with respect — everybody. Because you don’t know what fate will bring you or them. People that you meet when you are going up, you also meet when you are going down.” No wonder that years later, as a businesswoman, she was very thoughtful in making decisions whether she was dealing with other top businessmen, her executives or the employees who served the family company at her beck and call. “I always think of how my actions and decisions would affect others,” she said in an interview with the Daily Tribune Lifestyle. No, for all the feisty woman that we know her to be, Katrina, was not advised to be aggressively pro-active when facing a conflict. The legendary Juan Ponce Enrile, instead, cautioned his daughter: “Never throw the first punch. But if they throw the first punch, then…” This, she would take to heart whenever she had had to face corporate, social or emotional bullies, not that she is one to attract people prone to violating her rights. [caption id="attachment_134173" align="aligncenter" width="525"] As the only daughter of Juan Ponce Enrile, the most famous native son of Cagayan, Katrina brings to her new job an affection for the province and Cagayanos and the whole Cagayan Valley.[/caption] One imagines her father might have preferred her to be a boy, JPE being a man’s man, but to which she would have retorted: “Dad, I don’t have to be a boy to be what I am now… Girls can do it too.” Call it outright confidence, or chutzpah, or maybe it’s Pinay pride, but Katrina is not one to be cowed. And yes, she could lead and fight and attack, but as her father would most likely say: “Only if they attack first.” Self-assured executive What I have heard of Katrina, especially from my dear friend, Carol Mercado, who was her classmate at St. Paul College, is her signature confidence. “From our youth, when she could be stubborn, she has matured steadily into a self-assured executive no wonder that she has accomplish much as an entrepreneur. “It’s a paradox that while she may have been underestimated at times and even flat out rejected, she knows how to overcome these challenges because she is one creative person and she is not one to easily bow down or to say no. But then, she is not even outright assertive. She could be very charming and before any nemesis would know it, she has gotten what she wants without lifting a finger.” It would seem that the lady would have aimed for political eminence, being the daughter of the powerful JPE, but to everyone’s surprise, she had chosen to create a name outside of her inherited box (or confines), so to speak. While she takes pride in being an Enrile, she has not taken advantage of her family name as though an amulet that would do wonders for her. Instead, she has chosen to rely on the old-fashioned values of industry, respect for others, commitment and determination. She might as well be girl scout, except more courageous, daring and trailblazing. Flexing her risk-taking muscles In her 20s, when her friends were disco dancing, she was, to use another friend’s words, “flexing her risk-taking muscle and sharpening her foresight for the first time — pivotal experiences that would shape her business sense now admired by many.” She surprised everyone when, at 26, she bought properties in Palawan. “It was a big joke to many,” she recalled. “They could not see any reason I should take the risk and invest in a place where no one dared go. It was then no man’s country and perceived to be mosquito-infested.” Today, Palawan is a safe haven from the pandemic, and, of course, an investors’ paradise. On the other hand, her parents saw a promise in her, someone who would play a key role in the family enterprises. They appointed her as Group Treasurer even before her 30th birthday, and with it the added role of overseeing the many concerns of the JAKA Group of Companies. It is quite a daunting responsibility given its extensive industrial reach –- food manufacturing and product distribution to marketing and logistics; forest plantation management; safety match manufacturing, property management and development; as well as IT, security and financial services. It would seem that, for a “beginner” in the big league, it was beyond Katrina’s grasp, and yet she lived up to her parents’ expectations. [caption id="attachment_134175" align="aligncenter" width="525"] SOME of Delimondo’s best products.[/caption] In time she would qualify as the firm’s COO and eventually CEO. Not one used to trumpeting her achievements, Katrina candidly shared: “I was able to turn around the company, helping navigate it through the debilitating Asian Financial Crisis in the mid-1990s. And when the peso devalued in 2008 to 2009, when we had [a] one dollar denominated loan which I had to quickly deal with, I was able to restructure our company and keep it afloat.” Soon, she would be trusted to manage JAKA’s investments, which “allowed me to dream of bigger things, this in the midst of an economic crisis and the pressure to survive it.” Her baby Delimondo When shopping in a supermarket or a grocery, the Filipino consumers, especially those who take their corned beef seriously, would pick the Delimondo brand. They would also put the brand’s Bolognese Pasta, Luncheon Meat, Yellowfin Tuna spreads and aromatic oils in their cart or shopping bags. Katrina confides, “Delimondo was my baby and was purely our family’s venture.” Her was a one-woman team that managed the brand’s marketing, sales and R&D. To introduce it to the market, she gave away cans of their initial recipes for free. “I wanted to offer something deliciously different, one that I enjoyed from my travels abroad.” [caption id="attachment_134174" align="aligncenter" width="525"] SHE is most proud of her baby, Delimondo.[/caption] It wasn’t long before investors would come in too aware that Delimondo operates its own plants that produce and package its own products. The company would soon expand and offers its manufacturing services to other products all the way to exporting them. In time and with Katrina at the helm, JAKA shifted to investing in other companies. But if her JAKA performance is impressive, anyone should take a look at her other achievements. To cite one, as the Philippines Overseas Telecommunications Operations director and CEO/president. She led the efforts to renew the company’s franchise that would allow it to provide the Philippines satellite services. For another, as director and president, she has brought into the Montemar Resorts Development Corporation and Montemar Beach Club Inc. not only her management expertise, but her exposure to top international resorts as a frequent guest. No wonder that Manila’s well-heeled consider these resorts as standard-bearers of local luxury travel. [caption id="attachment_134171" align="aligncenter" width="525"] ‘Delimondo was my baby and was purely our family’s venture,’ said Katrina.[/caption] Transforming the upper east corner of Luzon Katrina also sits as the Cagayan Economic Zone Authority’s vice chairperson. In this role, she envisions making the province a model destination that easily rivals the country’s capital. “They’re considering appointing me as administrator. Once that post is confirmed, I will be fully committed to transforming the upper east corner of Luzon into another business area that the Philippines will be proud of.” As part of her vision, she plans to build a stronger point of economy with the available freeport and expand its potential by constructing an airport. To attract investors, she plans to boost incentives to encourage more players to relocate. “We plan to make smart cities there. I plan to make it very green. I plan to protect the lush forests. It’s really also known as the rice granary of the Philippines. I plan to push the transition from GMOs (genetically modified organism) to non-GMOs. I know that that will be a hard task but I plan to do it. I want to give the Filipinos healthy food for the next generations to come,” she states. Worthy and deserving As the only daughter of the most famous native son of Cagayan, Katrina brings to her new job an affection for the province and Cagayanos and the whole Cagayan Valley. She may have grown up in Manila, travelled the whole world, but her heart has always remained in the home of her father, Juan Ponce Enrile, and it is among his people, relatives and townsmen that she intends to pursue her next dream. There is no stopping this feisty Cagayanon. For her home province, she is out to conquer the world. But then, I must insist that this is not about being her father’s daughter, although there is no denying the great influence of JPE on Katrina becoming the woman that she has become -- strong-willed, passionate, forward-thinking. Still, Katrina could only thank herself most for being herself. That she accepted the challenges that came her way and faced them head on using her own gifts and advantages – which undoubtedly brought her to her destiny, one that she has arrived at and one that she has yet to fulfill. Indeed, if the women’s movement has reached this far, and women today now enjoy key positions in government, private sector and civil society, this may be attributed to the generations of women who have looked toward the future and embraced their destinies as key players in the affairs of humanity. Katrina is one of these women and we wish her all the best. No one could be more worthy of the challenge and deserving of the honor. The post Katrina Ponce Enrile: A woman worthy of her name appeared first on Daily Tribune......»»
Online trading as side hustle for moms
As a mother, finding ways to support one’s family financially can be quite challenging. While some choose to work full-time or part-time, others decide to work from home to be more present in their children’s lives. Fortunately, with the advent of the internet, there are now many opportunities for mothers to generate income as a sideline or while being a stay-at-home mom. One way is by venturing into online trading. Online trading has made it easier for anyone with an internet access to grow their money by trading foreign currencies and other financial products literally anytime and anywhere. Considering the risks involved, it is however a must for anyone, including moms looking to start their trading journey, to be properly educated before dipping their toes in online trading. SmarTrade, a pioneer in providing quality financial education in the Philippines, has been helping Filipinos build another source of income through online trading by offering free face-to-face and online learning sessions and one-on-one coaching. “We envision a nation where everyone is empowered to build a better financial future. And one of the ways we see this turn into reality is through reaching out to moms and teaching them about online trading as another source of income for their family,” said Joyce Mayo, president and CEO of SmarTrade. “We believe they are one of the catalysts in creating better lives for themselves and most especially, their children. After all, everything, including sound financial management, starts at home,” she added. One SmarTrade client who has found success in online trading is Lala Adriano, a mother of two. “Through the guidance and support of SmarTrade experts and coaches, online trading has become a viable addition to our income sources. With the right tools, strategies, and mindset I acquired through SmarTrade’s learning and coaching sessions, I gained the knowledge and confidence I needed to thrive in this side hustle,” said Adriano. For mothers who would like to try online trading, here are some tips before getting started. Learn the basics. Understand the different trading platforms and how they work, identify different investment options and the associated risks, and keep up with the latest news and trends in the market. SmarTrade’s online learning sessions make it easier for mothers to learn the ropes of online trading from trusted industry experts while in the comfort of their homes. The best part is that these sessions are 100 percent free. Start small. Do not invest more than you’re willing to lose. Start with a small amount of money and gradually increase your investment as you gain more experience and confidence in the market. Stay organized. Moms are experts in organizing, and this can come in handy when trading online. Online trading can be overwhelming, especially if you handle multiple investments simultaneously. Devise a system to keep track of your investments, including buying and selling information, earnings, and losses. This will help you make informed decisions and keep your financial records in order. Be patient. Online trading is not a get-rich-quick scheme. It is a long-term game, so you need to be patient and stay focused on your goals. Develop short-, mid and long-term plans and strategies and stick to them. Avoid making decisions based on emotions. Seek advice. If you’re unsure about online trading, seek assistance from experienced and trustworthy financial consultants. SmarTrade’s pool of experts can help you personalize your trading strategies based on your goals and lifestyle through their free one-on-one coaching sessions. They can provide valuable insights, identify the risks, and suggest investment opportunities that align with your goals. Online trading can be a potentially lucrative side hustle for mothers looking to support their families financially. However, it’s essential to approach online trading with caution, patience, and a willingness to learn. This way, you can maximize your investment returns while minimizing risks. For more information on how to avail of SmarTrade’s free services to get started on your online trading journey, visit www.smartradeph.com. The post Online trading as side hustle for moms appeared first on Daily Tribune......»»
7 lumang simbahan sa Metro Manila na swak pang-‘Visita Iglesia’
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Philippines logs 40 pertussis deaths this year
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DMK criticises Election Commission for being biassed in allocating symbols to political parties
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Unlock business success at Franchise Asia Philippines Expo
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Dela Rosa considers war with China but admits: ‘Hindi naman natin kaya’
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Pertussis or whooping cough: 40 child deaths so far this year – DOH
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Capitol mulls putting ‘integrated south bus’ terminal in Talisay instead of at SRP
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The future of food
I met Ella, Singapore's first robotic barista, at Changi International Airport. Ella serves various drinks non-stop, from a classic latte to a Pandan Tea latte......»»
Xdinary Heroes make ‘extraordinary’ concert in Manila
Members of the South Korean rock band Xdinary Heroes showed that they were no ordinary musicians during their first world tour, “Break The Brake” last March 23 at the New Frontier Theater......»»
EAM Jaishankar visits Indian Coast Guard Ship Samudra Paheredar in Manila
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