PNT Foreign Exchange $ 1.00 Cdn = P 40.63 Php
12 BUSINESS NEWS
PHILIPPINE ASIAN NEWS TODAY March 16 - 31 , 2018
Canada ’ s new $ 10 note : reflecting on rights and social justice
“ I ’ ll never forget this day — I can ’ t , it ’ s written in history !”
Wanda Robson — the sister of social justice defender Viola Desmond , who appears on Canada ’ s new $ 10 bank note — was visibly emotional as the note ’ s design was revealed on March 8 , 2018 — International Women ’ s Day .
Finance Minister Bill Morneau , Bank of Canada Governor Stephen S . Poloz , Ms . Robson and Dr . John Young , President and CEO of the Canadian Museum for Human Rights , took part in the unveiling of the note in a ceremony at the Halifax Public Library .
Once the note enters circulation in late 2018 , it will mark the first time that an iconic Canadian woman is portrayed on a regularly circulating Bank of Canada note .
Ms . Desmond was selected by Minister Morneau after an open call to Canadians to nominate iconic Canadian women who could appear on the redesigned $ 10 bank note .
A successful Black Nova Scotian businesswoman , Ms . Desmond defiantly refused to leave a whites-only area of a movie theatre in 1946 and was subsequently jailed , convicted and fined . Her court case is one of the first known legal challenges against racial segregation brought forth by a Black woman in Canada .
“ Viola ’ s is just one of millions of stories from women who have helped shape , build and influence our country ,” said Minister Morneau . “ But it ’ s an important story , because it shows that standing up for what we believe , whether it ’ s on the step of Parliament Hill or in a movie theatre in New Glasgow , Nova Scotia , can make our country and the world a better place for future generations .”
The new $ 10 note is also the first vertically oriented note issued by the Bank , which allows for a more prominent image of Viola Desmond and differentiates it from the current polymer notes .
The back of the note features images and symbols that depict Canada ’ s ongoing pursuit of rights and freedoms , including the Canadian Museum for Human Rights — the first museum in the world dedicated solely to human rights ; an eagle feather — representing the ongoing journey toward recognizing rights and freedoms for Indigenous peoples in Canada ; and an excerpt from the Canadian Charter of Rights and Freedoms .
“ Respect , reflection , dialogue — these are the values that Canadians aspire to , and this new note will help teach Canadians , indeed anyone who sees one of these bank notes , about the ongoing story of human rights in Canada ,” said Dr . Young .
This new note includes some enhanced security features to help keep it safe from counterfeiting yet easy to use , ensuring that Canadians maintain trust and confidence in their money .
“ It is the Bank of Canada ’ s job to design , produce and distribute bank notes that Canadians can use with confidence and pride ,” said Governor Poloz . “ Bank notes are designed to be not only secure and durable , but also works of art that tell the stories of Canada . I am confident that you will agree that this new $ 10 note fits the bill .”
Watch for the $ 10 note featuring Viola Desmond when it begins to circulate at the end of the year , and stay tuned for the launch of the next Bank NOTE-able campaign , in which the Bank will reach out to Canadians to seek input on the portrait subject and design of the next $ 5 note .
Visit bankofcanada . ca to learn more about the design and security features of Canada ’ s currency and follow the Bank on Twitter (@ bankofcanada ) for the latest news about Canadian bank notes .
The Bank of Canada Museum is on Facebook ! Follow , like and share the latest information about Canada ’ s new $ 10 bank note and much more : @ BoCMuseum
ABS-CBN set to operate P600-million modern studios in Bulacan
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ABS-CBN Corp . said two Hollywoodstyle studios in Bulacan province are expected to be operational in May this year .
“ The two sound stages will be operational by May . If you go to Bulacan , you will see the big structures already and it will be operational by May ,” ABS-CBN chief financial officer Aldrin Cerrado said .
ABS-CBN earlier said it invested at least P600 million for the construction of two sound stages in a 15-hectare lot in San Jose del Monte City .
The company plans to build 10 sound stages in the site .
The network aims to save about 65 percent to 75 percent in shooting location costs with the construction of the new sound stages .
ABS-CBN Corp . reported a net income of P3.16 billion in 2017 , down 10.3 percent from P3.53 billion in 2016 in the absence of election-related advertisements .
“ Overall , we are pleased with our performance for 2017 and we are particularly happy to have exceeded our guidance for net income ,” Cerrado said .
“ Top-line revenue growth , boosted
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by a healthy increase in consumer sales , was about 9 percent ,” he said .
The company generated consolidated revenues of P40.7 billion from advertising and consumer sales last year , representing a 2.3 percent year-onyear decline from 2016 .
Advertising revenues decreased 10.8 percent year-on-year because of high election-related advertising placements in the first half of 2016 .
Excluding election related placements , advertising revenues in 2017 went down by only 0.3 percent year-onyear , it said . Consumer sales increased P1.62 billion mainly resulting from the sale of ABS-CBN TVPlus and higher revenues from Sky Cable ’ s broadband and direct-to-home business .
ABS-CBN TVPlus contributed a significant increase in revenues for the entire year with a total of 2 million boxes sold , up 53.5 percent or 702,000 additional boxes sold from 2016 .
Sky Cable ’ s revenues rose P4.1 percent year-on-year on higher broadband and direct-to-home subscriber count by 15,000 and 399,000 , respectively .
Total subscriber count of Sky
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increased 458,000 or 45.3 percent to 1.5 million subscribers as of end-2017 .
Kidzania generated P528 million in revenues with a total of 338,000 visitors in 2017 .
O-shopping continuously offered new products and promos to assure quality home TV shopping and online
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experience . It generated P840 million in revenues , or 2.1 percent higher than in 2016 .
Direct costs and expenses reached P36.49 billion in 2017 . Cash capital expenditures and program rights acquisitions amounted to P7.9 billion . ( D . G . Amojelar , TMS )
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