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Empire East to develop condo complex in Pasig-Cainta area

EMPIRE EAST Land Holdings, Inc. (ELI) will unveil over 3,000 residential condominium units this year within a recently launched township in the Pasig-Cainta area.

In a statement issued Tuesday, the listed property developer said it will build a 38-tower, high-rise residential complex in Empire East Highland City. This is the company’s 24-hectare township being jointly developed with parent Megaworld Corp.

Located along Felix Avenue at the boundary of Pasig City and Cainta, Rizal, Empire East Highland City will feature an elevated city concept in order to adjust to its uphill location.

The development will have an elevated green park that will lead residents to the Highland Mall and to ELI’s residential complex project.

“Our property offerings have made the residents’ comfort and convenience a true priority, upgrading their experiences in a way that contributes directly to their happiness and well-being,” ELI President and Chief Executive Officer Anthony Charlemagne C. Yu said in a statement.

Megaworld earlier said it will spend P20 billion over the next 10 years to develop Empire East Highland City with ELI. The first phase of the township will involve the Highland Mall, which will have a gross floor area of 58,000 square meters (sq.m.) and is scheduled to open by the end of 2020.

The township will also include mixed-use towers, retail areas, an 8,000-sq.m. green and open park, and a 500-seating capacity church.

Megaworld earlier said that it is banking on the large population in Cainta to boost the demand for the residential units to be launched in the township.

In 2018, ELI said it sold projects covering almost 184,000 sq.m. of floor area. At the same time, the company completed the construction of about 95,000 sq.m. of living space and turned over more than 2,700 condominium units across nine residential towers.

Since its establishment in 1994, the company said it has completed 110 towers with about 17,000 condominium units. This is in addition to 7,700 residential lots at its horizontal developments.

The listed firm’s net income attributable to the parent grew eight percent to P215.76 million in the first quarter of 2019, on the back of a five percent increase in gross revenues to P1.23 billion.

ELI is part of the property business of tycoon Andrew L. Tan. His holding firm Alliance Global Group, Inc. also has core investments in liquor through Emperador, Inc., gaming through Travellers International Hotels Group, Inc., quick-service restaurant through Golden Arches Development Corp., and infrastructure through Infracorp Development, Inc.

Shares in ELI stood at 47 centavos each on Tuesday, 1.05% lower compared to the previous session. — Arra B. Francia

Facebook’s Stories feature seen to boost growth of businesses

SOCIAL MEDIA giant Facebook urged businesses to use its Stories feature to boost their growth.

“There’s this new format which everyone is using…and they’re using it a lot. And the younger you are, the more you actually use it. And that if they’re (businesses) not getting on that bandwagon, they’re going to be missing out,” Facebook Philippines Country Head John Rubio told reporters on Friday in a briefing.

“This is where people are now and this is where people are sharing stories,” Mr. Rubio said.

Stories, which are photos and videos viewable within 24 hours, are used daily by 500 million accounts on Instagram and 300 million more on Facebook and Messenger.

According to a Facebook-commissioned Ipsos survey conducted in 12 countries, 62% of the people who use Stories became more interested in a product after viewing it via the feature, while 31% said they are more likely to use the Stories platform in the future to connect with brands.

In the Philippines, 76% of users surveyed found the use of Stories in advertising as great, with 61% saying that they were purchasing more online due to the feature. On the other hand, 58% said they are more interested in seeing Stories from brands that “feel real.”

“People love it because it’s full screen, very immersive. It’s ephemeral, so I’m not afraid to post something… It’s very playful, interactive,” Mr. Rubio said.

As of the first quarter, around three million advertisers were using Stories to advertise in Facebook’s family of applications (Facebook, Instagram and Whatsapp).

Mr. Rubio said both small and large businesses can benefit from the use of platforms like Stories.

“Stories give people the power to make the most out of mobile to drive business result,” he said.

The official also urged businesses to be more playful and “try to fit in with how people are using” Stories when creating ads.

“The more creative it is, the more people will want to interact and move forward,” Mr. Rubio added.

Facebook, Instagram and Whatsapp have already placed Stories at the forefront of their apps due to the growing number of content people put up and the increase in people using the feature.

“The Stories format may be fleeting, but its impact is not… There’s opportunity for brands to spark interest and prompt more consumers to take immediate action on their online finds,” Mr. Rubio said. — Katrina T. Mina

Price of hotdogs may jump in July — Frabelle

By Janina C. Lim, Reporter

HTTP://FRABELLE.COM/

THE Frabelle Group of Companies said the price of hotdogs may jump by 20% next month if the government fails to retain the 5% import tariff for mechanically deboned meat (MDM) for chicken which meat processors have enjoyed for nearly a decade.

The government recently ordered the reversal of the low tariff to the 40% tariff, the original rate in 2012 before the country offered MDM, among other agriculture products, as a concession to allow the Philippines to continue placing a quantitative restriction on rice imports.

Under the concession, the MDM import duty will revert back to the higher rate after a law lifting import limits on rice is implemented.

The rice tariffication law took effect on March 5, so the 40% tariff on MDM is currently being implemented at the borders.

“We are going to feel the effects maybe starting next month on our production because we still have stocks of the old tariffs,” Frabelle Group President Francisco Tiu Laurel, Jr. told reporters on Monday in Makati City.

Mr. Tiu Laurel said the company has not felt the impact of the new regulation since it still has stocks of MDM imported at the low tariff level.

“The consumers have not felt it. If the government will not put it back to the 5%, we will expect that the consumers all over the country will expect a price hike of at least 20% on the midpriced to the economically priced hotdogs,” Mr. Tiu Laurel said.

The company may see a 35% hike in its production cost once its starts importing MDM at the 40% duty.

“But I believe the government is looking into our association’s request to maintain the 5% chicken MDM only. We hope the government will soon sign the retroactive incentive to lower it back to 5% to benefit the Filipino consumer,” Mr. Tiu Laurel added.

The interagency Committee on Tariff and Related Matters has decided to retain the 5% tariff on MDM chicken despite appeals from the poultry sector which argued that such low tariff opens an avenue for importers to misdeclare goods so as to escape higher tariff rates imposed on premium meat products, the entry of which can pose an unfair competition on the local poultry sector.

SAUSAGES
Meanwhile, Wisconsin-based Johnsonville LLC which the Frabelle Group recently tied up with through its subsidiary, Frabelle Fishing Corp., said the low tariff on MDM does not present incentives for them to manufacture here as they do not utilize MDM so much, but the 40% tariff on importing sausages from the US is a factor to consider.

“It is a 40% tariff coming in today for US sausages. If we can produce here, we can offer much more economical solution to the sausage category on the high end,” Michael Stayer-Suprick, president of the company’s international division, said during the media briefing.

Johnsonville CEO Nick Meriggioli said the firm is looking at locally manufacturing Johnsonville’s premium sausages here “as one of the options” for the firm to gain a wider reach and be more affordable in the local setting.

The joint venture between the two firms will be called Frabelle Corp., which will house the Bossing Pinoy, Yummy, Cheezydog, and Premium meat brands of Frabelle Fishing and manage Johnsonville’s business in the Philippines.

The joint venture will focus on the production, distribution and sales of chilled and frozen meats, primarily: sausages, tocinos, burgers, tapas, longganisa and hotdogs in the Philippines.

Frabelle’s current brands will continue to be made in Manila and sold through its current sales network, while Johnsonville-brand sausages will now be sold exclusively through Frabelle’s sales and marketing network.

The Frabelle Corp. manufacturing operations will be fully integrated into the Johnsonville supply chain network.

The Frabelle Group is engaged in diverse business lines, primarily in fishing, seafood processing, meat products, shipbuilding, energy and real estate.

Alibaba’s smart speaker to feature in Audi, Renault, Honda cars

SHANGHAI — China’s Alibaba Group Holding Ltd/ on Tuesday said its voice-controlled assistant will feature in local vehicles from Audi AG, Renault SA and Honda Motor Co. Ltd., as the tech giant expands in artificial intelligence (AI).

The Tmall Genie Auto smart speaker will allow drivers to use voice commands to, for instance, place orders on Alibaba’s online retail platform and buy movie tickets, Alibaba said at the CES Asia 2019 technology trade show in Shanghai.

In the near future, the speaker will also allow drivers to monitor and control smart devices at houses equipped with a Tmall Genie-compatible device, Alibaba said in a joint statement with the three automakers, without specifying vehicle models.

“We are thrilled to partner with global, distinguished auto brands such as Audi, Renault and Honda,” said Miffy Chen, general manager at Alibaba AI Labs. “Together, we can greatly enhance our in-car services and make driving experiences more intelligent and interconnected.”

The Tmall Genie is akin to Amazon.com Inc’s Echo. Alibaba launched the device in 2017 and released an auto version in April last year. Other automakers that have said they will install the device in their vehicles include BMW and Volvo Cars.

Amazon also has a vehicle version of its Echo, dubbed the Echo Auto, which it announced in September. — Reuters

Grab eyes Singapore banking license

HONG KONG/SINGAPORE — Grab, Southeast Asia’s most valuable start-up, is exploring a move into Singapore banking as regulators in the Southeast Asian city-state consider allowing online-only banks, four people with knowledge of the process said.

Grab is close to hiring a consultancy to advise it on its banking potential and is gearing up to apply for a digital-only bank license in Singapore if the banking regulator decides to open up the sector, said the people, who declined to be identified as they were not authorized to speak to the media.

Singapore-headquartered Grab’s interest in what would be its first foray into banking has not been reported before.

Grab declined comment.

When asked for a response, the Monetary Authority of Singapore (MAS) referred Reuters to its comments issued last month when it said it was studying the potential for allowing “digital-only banks with non-bank parentage” into its market.

Hong Kong, Singapore’s fierce financial center rival, began issuing licenses earlier this year.

A potential entry by Grab — backed by Japan’s SoftBank Group Corp. — and others would mark the biggest shake-up in years for a market dominated by DBS Group Holdings Ltd., Oversea-Chinese Banking Corp. and United Overseas Bank Ltd.

The MAS could make a decision in the next couple of months on whether to admit digital-only banks with nonbank parentage, as well as the eligibility applicants, the people said.

The city-state’s banking regulator is likely to issue only two to three licenses in the first phase, two of the people said.

SNAZZIER SERVICES
The interest from Grab underscores how Asia’s nonbanking firms are keen to challenge traditional banks by leveraging their technology and their user databases to offer banking services to retail customers and small businesses.

Securing a digital banking license in Singapore could help seven-year-old Grab to benefit from its existing data on transport movements, payment transactions and consumer behavior, the people said.

Last year, Grab teamed up with Japan’s Credit Saison Co Ltd. to provide loans in Southeast Asia.

Global fintech players are among other groups expected to seek licenses in Singapore, with some of them looking to form joint ventures, said two of the people.

Consultants said a digital banking license could also appeal to Singapore Telecommunications Ltd. (Singtel), which is expanding beyond its traditional carrier services into areas such as mobile payments and cybersecurity.

“It is too premature to comment but having ventured into mobile financial services, we are open to exploring the feasibility of such an opportunity should it arise,” a Singtel spokeswoman said in an e-mailed response.

In Hong Kong, affiliates of Alibaba Group Holding Ltd. and Xiaomi Corp, and consortia led by Standard Chartered PLC and BOC Hong Kong Holdings Ltd. were among those who won the digital-only banking licenses.

“In Hong Kong, the guidelines were quite precise in terms of what applicants had to prove in order to get a virtual banking licence, more so than in Europe,” said Dan Jones, APAC partner at consultancy Capco Digital.

“It will be interesting to see whether MAS goes down a similar route to Hong Kong … so that the only people who can apply are established companies, rather than literal start ups.”

As in Hong Kong, online-only banks in Singapore are also expected to launch by offering services such as savings accounts, personal loans and travel insurance, two of the people said. — Reuters

There’s nothing cheap about Ginebra San Miguel

EVERY TIME someone judges me for reaching for a bottle of Ginebra San Miguel (because I’m not handling a more expensive bottle), I point out the gold seal on the label (itself a work by National Artist Fernando Amorsolo). The gold seal is a Monde Selection medal awarded by Brussels-based institution International Institute for Quality Selections. Ronald Molina, Assistant Vice-President and Marketing Manager for Ginebra San Miguel summarizes the sensation: “The only thing cheap about Ginebra San Miguel is the price.”

The gin brand has been around since 1834, which Mr. Molina points out, makes it older than the Republic of the Philippines (founded 1898). For 185 years of the brand’s history, the recipe has not changed, he said, ensuring that what your ancestors were sipping — throughout the Revolution, the American Occupation, the Second World War (I can keep going) — will be the same as what you’d be sipping now, that is, if you were so inclined to reach for a bottle of gin that costs less than P100.

Easy to turn your nose up at that, but consider this: a report from the International Wine and Spirits Research group cites that the country is the world’s biggest gin market, and Ginebra San Miguel is in large part a contributor to that. Said Mr. Molina, “A lot of the world’s gin is consumed in the Philippines, and the leading brand of that is Ginebra San Miguel.”

“We’re part of the millionaire group — liquors that are bottling 1 million cases and beyond,” he added. “The process, the care we put into distilling the gin… is at par with world standards.”

Gin has been around since the time of the Romans, with gin taking its name from ginevra, another name for the juniper berries from which gin is distilled. Ginebra San Miguel itself was distilled in Manila, and was acquired by La Tondena in the 1920s, before shifting ownership several times, finally landing in the lap of San Miguel.

“It’s been a part of history, culture, life, and flavors of celebrations of a lot of people in the Philippines,” said Mr. Molina.

The gin was celebrated in an event in Quezon City, where they launched the gin’s new home online, https://oneginebranation.com/. The website contains recipes, history, and brand events that gin enthusiasts can attend. “The role of the brand is to build bonds,” said Mr. Molina.

Ginebra San Miguel has also seen the release of the Premium Variant (costing a little less than P200), and Mr. Molina says that they plan to explore the market further. He also says that while Ginebra already exports to other countries, especially in Asian countries with large Filipino populations, he says, “I believe that the Philippines has something to contribute to the history of gin.” — Joseph L. Garcia

Microsoft unveils next-gen ‘Project Scarlett’ Xbox console

MICROSOFT Corp. on Sunday unveiled its next-generation Xbox console, known as “Project Scarlett,” which is set to hit store shelves during the 2020 holiday season.

The device will be four times more powerful than the Xbox One X console and be powered by an Advanced Micro Devices chip, the company said during its Xbox E3 conference in Los Angeles.

The console will show up to 120 frames per second, or twice the average TV, and include a solid-state drive, Microsoft said, allowing games to load much faster than on its older mechanical hard drives.

The latest version of Microsoft’s popular Halo video game will be launched along with the new console.

Rival Sony Corp. has also revealed plans of its next-generation PlayStation 5 console, with similar specifications including an AMD chip, but no official release date has been announced. Analysts expect a late 2020 release.

Microsoft said its game-streaming service “Project xCloud” will go into preview in October. Rival Alphabet Inc.’s Google on Thursday last week started taking pre-orders for its Stadia game-streaming service which will launch in November.

A new feature will allow users to stream games directly from their own Xbox console, instead of Microsoft’s servers, the company said.

“Two months ago we connected all Xbox developers to Project xCloud,” Phil Spencer, Microsoft’s executive vice-president for gaming, said. “Now, the console streaming service will “turn your Xbox One into your own personal and free xCloud server.”

“Whether you’re using a console in our data center or your console at home, this October you’ll be able to use our hybrid gaming cloud to play your games wherever you go. Where you play is now entirely your choice,” Spencer said.

The company announced “Project xCloud” last October saying it was testing a new game streaming service designed to work across PCs, consoles and mobile devices.

Since then, Microsoft has revealed that the service uses hardware similar to that in its existing Xbox One gaming consoles.

“That means an existing library of more than 3,500 games will work on the service without any changes or modifications required by the developer,” Microsoft said in a blog post in May.

Analysts have said Microsoft is better positioned than most to capitalize on cloud gaming, citing its strength in infrastructure, content it owns, and experience in gaming.

Several technology companies are looking to boost services revenue through games streaming, including Nvidia Corp., Sony and Electronic Arts while Amazon.com Inc. is reportedly working on its own service as well. — Reuters

CIC targets to collect two million data subjects for credit registry

CIC PRESIDENT Jaime P. Garchitorena said the firm wants to end the year with nine million data subjects. — BW FILE PHOTO

STATE-RUN Credit Information Corp. (CIC) eyes to onboard two million data subjects in its credit information system within the year as it is set to collect from large government-owned and -controlled companies (GOCC).

CIC President and Chief Executive Officer Jaime Casto Jose P. Garchitorena said in an interview the country’s sole public credit registry wants to end the year with nine million data subjects, coming from the current seven million unique files.

“The onboarding of additional two million, we feel that’s a doable goal for this year,” The next goal in the next 12-18 months is to onboard some of the larger GOCCs such as SSS (Social Security System) and GSIS (Government Service Insurance System),” Mr. Garchitorena said.

He added that GSIS committed to submit the credit information of two million of its members, while SSS estimated to bring in the data of 15 million members who availed their loans.

“These are the big numbers we’re looking at over 18 months, but we’ll start increasing our database from the previous five million to existing seven million and bringing that to nine in the next few months. I think that’s very doable,” the CIC president added.

The credit registry had 5.867 million unique data as of October last year, which came from financial institutions such as banks, cooperatives, credit card firms, insurers and GOCCs, among others.

Mr. Garchitorena said CIC considers the 15 million estimate of SSS’ borrowers as a “super set” of data as having a social security number and a job are the usual first requirements for Filipinos looking to borrow money from formal institutions.

“Once you get a job and your social security number, you can borrow from SSS and avail of a credit card… Because the largest data set is from the SSS, there’s a good chance that all the other sets might be captured by this,” he said.

The credit registry added it is eyeing to include loan data from Microfinance Information Data Sharing, Inc., which will likely bring in about eight million data subjects.

“If that pushes through, that will not only be a significant jump in the (number of) data subjects, but it will also offer a view into a rare subset of lending which is the microfinance lending,” Mr. Garchitorena said.

To hit its nine-million goal for data subjects by yearend, CIC said it will also target the “low-hanging fruit” by enhancing the data quality standards of its current submitting entities.

“We’re undergoing some very aggressive data quality monitor coordination with central bank-covered institutions. From that alone, the additional two million data subjects will be uplifted,” Mr. Garchitorena said.

Some 1,600 financial institutions are currently registered with CIC, with 396 of them regularly submitting credit data.

Republic Act No. 9510 or the Credit Information System Act mandates the establishment of a comprehensive and centralized credit information system, with CIC tasked to consolidate the data.

The law also states that submitting entities, which are lenders, are required to submit and provide all the credit data of their borrowers to CIC. — Karl Angelo N. Vidal

Apex Legends Season 2 to debut on July 2

ELECTRONIC Arts Inc. said on Saturday it would launch the second season of its popular battle royale game Apex Legends on July 2.

Apex Legends tussles for dominance in the battle royale genre with global smash hits Fortnite and PUBG.

Apex Legends Season 2 – Battle Charge will be available on Sony Corp.’s PlayStation 4, Microsoft Corp.’s Xbox One and personal computers via Origin, EA said.

It comes with a new Battle Pass, which will have daily and weekly challenges, fresh rewards, new skins for characters and the ability to earn crafting metal.

EA forecast in May that net bookings, or the game publisher’s adjusted revenue, from Apex Legends will be in the range of $300 million to $400 million in fiscal year 2020, adding that the forecast did not assume any contribution this year from future mobile versions or games in the Chinese market.

Apex Legends signed up 10 million players within three days of its launch on Feb. 4, EA has said, a milestone that Fortnite took two weeks to reach.

Since the release of its battle royale mode in September 2017, Fortnite has gone on to amass nearly 250 million registered players across the globe, according to a report in Engadget, while Apex Legends had 50 million players as of March this year. — Reuters

Places to celebrate Father’s Day

QUEZON CITY/ORTIGAS
On Father’s Day, Eastwood Richmonde Hotel’s all-day dining restaurant, Eastwood Café+Bar, is serving up unlimited steaks and crabs for P995 nett. The lunch and dinner spread includes salads, soups, and desserts. Everyone also gets a free glass of lychee iced tea while dad gets an extra Heineken beer. And for every four guests paying the regular buffet rate, dad gets to eat for free. The Father’s Day Steaks and Crabs buffet offering is available for lunch and dinner, from 11:30 a.m. to 2 p.m., and from 6 to 9 p.m. Children six to 12 years old get 50% off and children five years old and below dine for free. For inquiries and reservations, call 570-7777.

This coming Father’s Day Weekend, Marco Polo Ortigas Manila celebrates Dads with special offers that the whole family can enjoy. A spectacular spread awaits at Cucina which features the exotic selections from Thailand this weekend. For every two full-paying adult diners, Dad dines in Cucina for free. Award-winning restaurant Lung Hin also features set menus showcasing authentic Cantonese flavors on the June 16. Enjoy cold Heineken beer and choice snack samplers at the Connect Lounge with dad that afternoon. Finally, pair Macallan Scotch whisky with Vu’s Sky Bar and Lounge’s dark chocolate truffles. Meanwhile, FLOW Spa has a special package, inclusive of a 30-minute barako scrub and a 60-minute combination massage for dad. This offer is available for P3,000. For details and reservations call 720-7777 or e-mail restaurant.mnl@marcopolohotels.com. Please log-on to www.marcopolohotels.com.

The Richemonde Hotel Ortigas celebrates Father’s Day with a barbecue party at the Richmonde Café on June 16. The Father’s Day lunch buffet for the “King of the Grill” is priced at P1,090 nett per person with a free round of beer for dad. And for every four guests paying the regular rate, dad gets to dine for free. Children six to 12 years old get a 50% discount, and children five years old and below get to eat for free. For inquiries and reservations, call 638-7777.

MAKATI/BGC
At Shangri-La at the Fort, Manila on June 16, get together for lunch or dinner fit for a king at High Street Café. For P3,200 nett per person, indulge in international cuisine with access to the new Seafood Bucket list experience coupled with free-flowing non-alcoholic beverages. Add P200 nett to indulge in select beers, wines and sangria. At the High Street Lounge, there will be a bespoke gentleman’s Afternoon High Tea experience available from 2 to 6 p.m. for P1,350 nett good for two persons. Specialty cakes from the cake counter will be offered for a mid-day sweet escape. Taste the flavours of Peru by the poolside at Samba where all fathers’ dining with a companion or two may enjoy a Falernum shot and a special gift. For inquiries and reservations e-mail slfm@shangri-la.com.

On June 16, the Grand Hyatt Manila is cooking up a feast for the man of the house. First there is the Sunday crossover brunch at The Grand Kitchen and The Cellar. For P2,600 net, dine on a selection including Wagyu steamship round, lechon, and poached salmon among others. Over at No. 8 China House, choose among set menus starting at P9,988+ for four persons. At The Peak Grill, enjoy the views of the Metro Skyline while dining on a carefully prepared set menu for P3,200 net for lunch or dinner. A la carte options are only available for dinner. All fathers dining at The Grand Kitchen, No. 8 China House, and The Peak Grill Dads can enjoy a complimentary House Lager and get to take home a special Grand Hyatt Manila beer mug. One can also surprise dad with a dinner at The Pool House cabanas. For P13,789+, dine on a three-course set menu four persons, inclusive of a choice of a bottle of red or white wine. It includes your own butler and a guitarist to make the celebration more special. Daily until June 16, one can buy dad a selection of sweets from Florentine picked out by you. For a minimum purchase of P2,000 net, you can create a hamper featuring a selection of Cartwright & Butler sweets, specialty coffee cans, and handcrafted pralines. Finally, give the gift of relaxation at Illume Spa this Father’s Day. For P4,000 net, treat Dad to the Health & Wellness package inclusive of a 90-minute Deep Muscle Massage and a day at the gym and the heated pool. For reservations and inquiries, call 838-1234 or e-mail manila.grand@hyatt.com.

MANILA
On Father’s Day, treat Dad and the entire family at Pan Pacific Manila’s Pacific Lounge which has a special Grill and Barbeque dinner buffet on June 15, 6 p.m., for P1,200 net per person. For reservations, call 318-0788 or e-mail dining.ppmnl@panpacific.com.

Diamond Hotel Philippines salutes all dads at Corniche with the Father’s Day buffet spread from June 14-16 for P2,990 nett per person for the lunch or dinner buffet. There will be musical entertainment by a trio during lunch on June 16. Dads also get a chance to spin the wheel and win a prize for every P5,000 spent on June 16. For a sumptuous Father’s Day get-together, the Japanese themed Chichi no Hi or Father’s Day menu from Yurakuen is bound to impress. With sets good for four persons at P9,600 nett and good for six persons at P13,600 nett, the lunch and dinner menus come with one standard beverage. The Father’s Day menus are available from June 14-16. An acoustic duo will provide entertainment on June 16 during dinner. For a more leisurely celebration, the Lobby Lounge offers a three-course lunch and dinner set menu for P1,580 nett per person from June 14-16. Dads dining in at any of the restaurants on June 16 will take home an exclusive giveaway. For inquiries, call 528-3000 or email guestservices@diamondhotel.com.

Century Park Hotel celebrates Father’s Day with #DadsMyMan. On June 16, fathers enjoy a Father’s Day Special, with one free buffet lunch or dinner for every three paying guests at Café in the Park. Buffet prices start at P795 net (kids six to 10 years old) and P1,495 net (adults). For a minimum spend of P1,200, dads can drink a free local beer or a glass of house wine at the Atrium Lounge. They can also enjoy a free sushi cake at Century Tsukiji also for a minimum spend of P1,200. For details e-mail information@centurypark.com.ph or call 528-8888.

PASAY/PARAÑAQUE
In celebration of Father’s Day, City of Dreams Manila melds luxury, service, dining treats and family entertainment to create an unforgettable experience. Crystal Dragon will give a complimentary dessert of Mango Pomelo with Vanilla Ice Cream for fathers who will dine there on Father’s Day. It offers a Father’s Day a la carte menu for lunch and dinner daily until June 17. Fathers who dine at Nobu Manila’s Sunday brunch buffet from 11:30 to 3:30 p.m. will receive a complimentary shot of sake. On the same day, one lucky father has a chance to win a bottle of premium sake in the lucky dip activity. The Father’s Day Nobu Sunday brunch highlights the restaurant’s famed Japanese-Peruvian flavors with Wagyu or Kobe beef sliders and fresh-off-the-grill assorted beef cuts and seafood rice at the Teppan table, among others. The Nobu Sunday brunch buffet with the regular beverage package of sodas, juices, mocktails and iced tea is offered at P2,950 net. A standard alcohol package for an additional PP1,096 net, and the premium drink package for an additional P2,204 net are also available. The Café at Hyatt is highlighting a sumptuous basketball-themed buffet on Father’s Day. For P2,999 net per person with an option for alcoholic beverages for additional P200 net, the offer comes with a souvenir photo and a special gift. Golfing dads can pass by K-Golf, City of Dreams Manila’s indoor golf simulator, on June 16, where they have a chance to win a Tommy Hilfiger watch and other prizes when they achieve the longest recorded swing distance. K-Golf’s Father’s Day Longest Drive promo runs from 2 to 10 p.m., and is open for fathers who book an hour of golfing. The one-hour rate is P1,500, and can be played by up to six persons. For inquiries, call 800-8080 or e-mail guestservices@cod-manila.com or visit www.cityofdreamsmanila.com.

This Father’s Day, New World Manila Bay Hotel is honoring dads with a hefty feast fit for a king. At Li Li, dad gets to choose from two special Father’s Day set menus filled with authentic Cantonese dishes starting at P2,288 per person, available for both lunch and dinner. For a more indulgent lunch celebration, spoil him with Yum Cha buffet priced at P2,288 per person. As an extra treat, dad dines for free when accompanied by three paying adults. At Market Café, surprise him with a specially curated lunch and dinner buffet spread at P2,800 per person. Or take him to The Fireplace where the special Father’s Day dinner set menu, priced at P3,000 per person, features whose highlight is Argentinean Angus tenderloin. This dinner set includes a complimentary glass of wine. All dads dining at hotel F&B outlets on June 16 will receive a special Father’s Day gift. For inquiries and reservations, call 252-6888 or visit manilabay.newworldhotels.com.

Conrad Manila salutes all Dads this Father’s Day Weekend, June 14 to 16, with curated dining and wellness highlights fit for a king. Treat the man of the house with an opulent lunch and dinner buffet spread at Brasserie on 3 called Dad’s Day Off, priced at P2,700 nett per person for lunch and P2,100 nett for dinner, on June 16. Dad also gets to bring home special gifts. At China Blue by Jereme Leung there is a festive set menu that includes highlights such as Golden roast US duck and Steamed sea garoupa, among others. The Feast for Fathers is priced at P33,888 nett for a table of 10 persons and available from June 14 to 16. The Engkanto Draft Beer flows free and there is a one-for-one promo on all imported brews this whole month of June at C Lounge. Guest artists perform from 8:30 p.m. onwards. A Round for Pops is priced at P945 nett per person. Finally, treat day to a 90-minute treatment at Conrad Spa Manila that begins with a 45-minute back massage followed by foot reflexology. The Father’s Day Escape is priced at P3,300 nett. For Father’s Day Weekend dining reservations and inquiries, call 683-3990 or e-mail conradmanila@conradhotels.com.

The Café Eight restaurant at Crimson Hotel Filinvest City, Manila offers families a chance to cherish Dad and bond over a lavish Sunday brunch on June 16, Father’s Day. The family can savor the flavors of the world in one buffet spread from churrasco or barbequed meats to international cuisines. Meat lovers can start with the churrasco station filled with grilled premium beef sirloin, lamb leg, pork loin, Brazilian pork sausage, pork liver, chicken thigh, and chicken breast wrapped in bacon. Barbequed vegetables and fruits which the guests can dip on chimichurri, cilantro lemon butter sauce or tomato salsa will surely fire up their appetite. The Sunday brunch also has an appetizer section, fresh seafood, a dessert corner, and a kiddie buffet. There will also be a beer drinking contest and Dad-karaoke. As an additional treat, Dads will get to bring home a free Crimson Panama hat. They will also eat for free if accompanied by at least four paying guests. Café Eight’s Father’s Day Special Sunday Brunch Buffet is P2,100 net per person inclusive of unlimited beer, sparkling wine, and juices. For details and reservations, call 863-2222, 998-595-3769 or e-mail dining@crimsonhotel.com.

RESTAURANTS/OUT OF TOWN
Take dad on road trip to Tagaytay and treat him to brunch with the family at Discovery Country Suites’ Restaurant Verbena on June 16. In partnership with Agathon Trading, the restaurant will be serving a one-day full brunch buffet featuring Salmon confit, Sous vide filet mignon, Crispy pork cracklings, and Fried chicken and biscuits as the mains. The buffet also includes a salad station with fresh Tagaytay greens, and an omelette station among others. Leave room for dessert: Chocolate bread and butter pudding and Queso de bola cheesecake. Restaurant Verbena’s Father’s Day Brunch Buffet is available on June 16 from 11 a.m. to 3 p.m. for P800 nett. For reservations, visit https://www.discoverycountrysuites.com/best-restaurant-tagaytay/ or call (02) 529-8172.

On June 16, Richmonde Hotel Iloilo’s all-day dining restaurant, The Granary, is throwing a Filipino food festival just for dad. The Father’s Day Fiesta Dinner Buffet goes well with the bottomless Heineken draft beer he can drink all throughout his meal. The Father’s Day Dinner Buffet is available on June 16 from 6 to 11 p.m. and is priced at P1,500 nett. Children six to 12 years old get a 50% discount and those five years old and below may eat for free. For inquiries and table reservations, call +6333 328-7888.

Cravings is treating all dads on June 16 with a gastronomic and curated retail experience at the Cravings Events Hall in Katipunan dubbed as “Meat My Dad.” Families get to dine at a lunch meat buffet for P850 per person. On June 15 and 16, special dad treats include a test-drive pass for a Mazda CX-5 FWD (for the first 25 dads). They will also have the chance to get a style upgrade for less with discounted items from footwear store The Playground Premium Outlet and Shirts Avenue (with styling tips open to all family members). On June 16, a free car wash or change oil are up for grabs at Pertua and free car wash at K’archer (open to first 30 dads). The first 20 dads who will dine in also have the chance to get a snazzy new haircut at the Ilustrado Barbershop booth for just P100 (instead of P450). Vintage Pens by G and LifeKit, a brand of safety and survival kits, will also be at the event. There will be free GI.Jo Fitness passes, free consultation at the SingerStudio booth from 11 a.m. to noon, and a 20% discount to Pawikan Pansol Private Pools (open to first 30 dads). A family member can also write a heartwarming note dedicated to their dad, which entitles them to a free token. For reservations, call 0977-064-5453 or e-mail salesexec@cravingsgroup.com.

TWG Tea has come up with a Father’s Day set menu which starts off with a soup of the day, main course options of Rib eye steak with walnut butter, roasted garlic and tomato, green beans and shimeji mushrooms served with a Magic Charm Tea-infused brown sauce, or Slow-roasted beef short ribs with Magic Charm Tea-infused guava barbecue sauce, served with warm potato salad. Accompany this hearty meal with a cup of Earl Grey Gentleman Tea or the Napoleon Tea. End the meal with a Brother’s Club Tea-infused hazelnut mousse layered with raspberry jelly covered with a raspberry and star anise chocolate ganache. TWG Tea’s Father’s Day Set Menu is priced at P2,100 for a soup, a choice of main course, tea and dessert. Available daily until June 30 at TWG Tea Salons in Greenbelt 5, Shangri-La Plaza, and Central Square.

GCash to help WWF Philippines on reforestation of Ipo watershed

By Vincent Mariel P. Galang, Reporter

MOBILE money platform GCash has committed to help reforest 300 hectares of the 7,236-hectare Ipo watershed in Norzagaray, Bulacan.

On June 10, GCash signed an agreement with World Wide Fund for Nature (WWF) Philippines for the reforestation, protection, and management of the adopted area.

GCash will be sponsoring the planting of trees in the area. For three years, WWF Philippines will monitor and report the status of these trees, which is the average period in order to see in an area being rehabilitated or reforested.

“As a company, we are constantly looking for ways to help build a better, stronger, more environmentally secure nation. Through this project, we hope to contribute to water security, as well as the creation of sustainable cities and communities in the Philippines,” Anthony Thomas, president and chief executive officer of Mynt or Globe Fintech Innovations, Inc., said in a statement.

Mynt is the operator of GCash.

The Ipo watershed was declared by the Department of Environment and Natural Resources (DENR) as a protected area, but its forest cover has drastically dropped to 40% from 85% for the past years due to illegal activities such as illegal logging, charcoal-making, and slash-and-burn farming.

If these activities continue, a water crisis may likely occur. Ipo is part of the Angat-Umiray-Ipo watershed system, which supplies 98% of Metro Manila’s water.

Watersheds need trees since they absorb rainwater which it channels into streams, rivers, and dams where people source their water.

The reforestation of the watershed will also involve the DENR and the Biodiversity Finance Initiative (BIOFIN) Philippines. More details about the partnership will be announced on June 25, which is noted to be the first in the Philippines.

“The most important aspect on the partnership with GCash is their platform. Millions of Filipinos use their platform, and since it’s a financial platform it can make it a lot easier for people to help us in our work for the environment,” Paolo B. Pagaduan, project manager of WWF Philippines, told BusinessWorld after a forum by GCash on Tuesday.

“Primarily, one is providing the funds, but the platform that will be launched in raising awareness and educating the people, and eventually, tracking the progress of what they are donating,” Mr. Pagaduan said.

Anabelle E. Plantilla, project manager of BIOFIN, told BusinessWorld that BIOFIN’s partnership with GCash raises awareness on biodiversity conservation.

“At the same time, (the partnership with GCash) mobilizes resources for priority actions indicated in our Philippine Biodiversity Strategy and Action Plan. The results of this partnership will contribute to the Philippine commitment to the United Nations Sustainable Development Goals 15 (Life on Land) and 17 (Partnerships for the Goals),” she said.

Therapy in the office: Big banks take mental health fight in-house

LONDON — In Billions, a US television show set in the world of hedge funds, traders at the fictional Axe Capital regularly attend sessions with an in-house psychiatrist.

In real life, finance professionals are rarely so open about seeking psychological help.

On Wall Street and in the City of London, hyperambition and an ‘always on’ attitude are richly rewarded and people are often wary of revealing something that could be perceived as a weakness.

Two out of three people working in financial services have experienced mental health issues as a result of work or where work was a related factor, according to a 2018 survey, broadly in line with the wider workforce. The Mental Health at Work poll questioned over 4,600 British employees from a range of industries.

Many don’t tell their bosses for fear of damaging their careers.

“Stigma definitely still exists,” said Beth Robotham, an executive director at Goldman Sachs in London.

“Legislation is supposed to protect people from that kind of discrimination and employers are trying much, much harder but it would be naïve of me to say that that wasn’t an issue any more.”

Robotham experienced anxiety attacks when she was in charge of recruiting bankers focused on the healthcare sector for Goldman in Europe, the Middle East and Africa (EMEA) in 2010. It took her months to tell her managers and seek help.

“I just assumed that people like me must just fall out of ‘the system’, and therefore I should just keep quiet or else I will be pushed out,” she said.

Robotham, deputy chair of the City Mental Health Alliance, which promotes good mental health among London’s financial workforce, is one of a growing group of executives choosing to speak publicly about their problems to reassure others they are not alone.

SUFFER IN SILENCE
People can experience anxiety, depression and other mental health issues regardless of their job.

But punishing schedules can pile on extra pressure. All-nighters and 100-hour work weeks are not unusual in investment banking, particularly when working on deals or public offerings of debt or equity.

Some 44% of banking employees said they felt under excessive pressure to perform in their work, according to a survey of over 70,000 people carried out by Britain’s Banking Standards Board last year. A quarter said that working at their firm was bad for their health.

In recent years, banks have tried to lighten workloads, relax dress codes and give staff more time to focus on life outside the office to retain talent and avoid costly burnout.

But bankers with mental health problems, especially those still early in their careers, are often reluctant to flag them in case their bosses think they can’t hack the pace.

Matt Evans, global head of investment bank recruiting and head of firmwide recruiting for EMEA at JPMorgan, said he spent nearly 20 years concealing his struggle with depression until the bank’s ‘This Is Me’ campaign in 2017 prompted him to share his experiences.

“There’s been no downside for me in telling my story. The support I’ve had has been significant,” he said. “I got promoted to MD after disclosing my condition.”

Evans was recently diagnosed with bipolar disorder and took three months off last year. He was phased back into work in December and says he is “100% convinced” the break will have no impact on his professional prospects.

But not everyone shares his confidence around attitudes to mental health.

While it is illegal for employers to discriminate against people for having mental health problems, more than half of 2,000 UK workers surveyed by health-tech firm Mynurva feared telling their manager would hinder their chances of promotion, while 57% believed disclosure would harm relationships with colleagues.

Mynurva, which provides online counseling, also reported a surge in demand from financial executives who are bypassing their employers’ services because they fear the consequences.

“The findings show the fear and embarrassment employees have when disclosing their condition to their employer. And it explains why professionals would rather suffer in silence than seek the necessary help,” said Dr Zain Sikafi, CEO of Mynurva.

MENTAL HEALTH FIRST AIDERS
One in four people will be affected by mental or neurological disorders at some point in their lives and the annual cost to the global economy is estimated at $1 trillion in lost productivity, according to the World Health Organization.

Brian Heyworth, global head of client strategy at HSBC and chairman of the City Mental Health Alliance, wants his bank and others to help employees before they become seriously ill.

“In an organization of 235,000 people, some will be having suicidal thoughts but many more will be sliding along the spectrum towards that point. We want to anticipate and prevent that,” he said.

HSBC is considering hiring on-site counselors as part of its ‘Healthiest Human System’ initiative, the brainchild of CEO John Flint.

JPMorgan’s first UK-based on-site counselor is due to start work at the bank’s offices in London’s Canary Wharf this summer.

The bank already has full-time counselors in nine US locations, including New York, Delaware, Chicago and Texas and also offers a Resilience App providing stress management tips.

Goldman Sachs is planning to train dozens of UK staff as mental health first aiders so that they can spot signs that colleagues may be starting to spiral due to stress or anxiety — including changes in appearance, working habits or social patterns, Robotham said.

Goldman has also launched a paid internship program in the United States for people who identify as ‘neurodiverse’. Neurodiversity covers a wide range of neurological differences including autism, dyslexia, developmental disorders and mental health conditions.

As the public profile of mental health grows, employers in Britain who fail to show adequate mental wellbeing provision for staff could be sued under the Management of Health and Safety at Work Regulations Act 1999, which compels employers to assess the nature and scale of health risks at work, including stress.

“The harm and detriment to an employer stemming from these kinds of issues are not solely financial, they can inflict greater damage to reputation, public image, productivity and retention,” said Matthew Cole, partner at law firm Prettys.

Cole said he had not seen any significant rise in the number of staff seeking damages from employers due to stress-related conditions but said companies were very sensitive to the risk.

“If an employee ends up with a psychiatric condition which prevents them from working in an environment where they might have otherwise earned six figures, that can amount to some significant liabilities.”

Prevention is much cheaper. Britain’s Mental Health Foundation estimates that mental health support in the workplace could save UK businesses up to 8 billion pounds a year.

The charity puts the cost of providing information and advice on mental health online and via workshops at around 80 pounds per employee per year.

Heyworth has grappled with anxiety and depression since childhood and was hired by HSBC after a period of leave from Bank of America. He knows that he is one of the lucky ones, both banks knew of his mental health problems and were supportive.

“Make no mistake, we are still in the foothills on this journey,” he said. “The positive thing is that more people are now asking for help, but we also need to accept that there are probably more people who need help too. The next phase of the challenge is creating the conditions where we can reverse that trend.” — Reuters

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