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RCBC sees rollout of digital currency ePiso by next year

RIZAL Commercial Banking Corp. sees full implementation of ePiso in 2019.

By Karl Angelo N. Vidal, Reporter
RIZAL COMMERCIAL Banking Corp. (RCBC) expects its digital currency to be fully rolled out next year, with the lender still testing the network across various communities.
In a recent interview, RCBC Group Head of Digital Banking Margarita B. Lopez said the Yuchengco-led bank is still pilot-testing its ePiso digital currency as it continues to study the value proposition of the network, on-boarding various partners such as merchants and suppliers.
“I expect the first six months [of the program] would be an intensive checking whether the business that we think is the path to building an ecosystem will actually work,” Ms. Lopez told BusinessWorld. “If it does, then that’s what we’ll replicate. That’s continuous learning for us.”
She added that the full deployment of ePiso should commence by next year.
“By next year, dapat full implementation na tayo (it should be in full implementation).”
Dubbed as the first of its kind in the Philippines, ePiso was first tested in May as a digital currency stored in a mobile wallet.
Currently, the ePiso is being tested in a community in Muntinlupa as well as in Bulacan and Bukidnon.
During the first few months of the pilot test, Ms. Lopez said the bank saw a 330% growth in terms of mobile application downloads and a 2000% increase in volume transactions.
“The [numbers are] very encouraging… There’s really a way for us to help them secure their hard-earned money,” she said.
Ms. Lopez added that RCBC is looking at partnering with more businesses, which include suppliers, buyers, and merchants to grow the ecosystem.
“Right now, we’ve on-boarded suppliers for farmers. We’ve also on-boarded a fast-moving goods company to [supply] the daily needs of ePiso users.”
Aside from the pilot areas, RCBC plans to test the digital currency ecosystem in certain areas in Mindanao, Visayas, and Palawan, depending on vicinities being serviced by its partners.
It is also looking at adding more use cases for the digital currency such as RCBC’s banking products and services, on top of fund transfers, merchants, as well as utility bills payments already being tested.
“Hopefully at some point, we’ll be working with different partners — either other banks or [financial technology] companies that will be able to offer investments, savings and so forth,” Ms. Lopez said. “Whatever that would benefit the consumers.”
For now, she noted that RCBC is closely working with the Bangko Sentral ng Pilipinas (BSP) through a sandbox model.
“Technically, the central bank should be the one to issue [digital currencies]. Right now, we’re doing the issuance and conversion for them, but at some point, they will issue that.”
The central bank launched the National Retail Payment System framework in 2015 with the objective of promoting a “cash-lite” economy wherein financial transactions will veer away from cash and check and toward electronic fund transfers and digital wallets.
The BSP targets to raise the share of digital payments to 20% of the total transactions by 2020 from a measly one percent in 2013.
RCBC posted a P2.2-billion net income in the first half of the year, 6.4% lower than the P2.35 billion tallied a year ago due to lower trading gains.
Shares in RCBC closed at P28.25 apiece on Wednesday, up 25 centavos or 0.89%.

Huawei introduces new flagship phones in bid to keep No. 2 spot

LONDON — Huawei unveiled new flagship smartphones with novel smart camera and video features on Tuesday, as it seeks to sustain momentum among price-conscious consumers.
The Chinese company, which overtook Apple this year to become the No. 2 smartphone maker by units — behind South Korea’s Samsung — introduced its Mate 20 phone series using Leica camera technology.
They include a new ultra-wide angle lens, as well as a telephoto lens and a macro that shoots objects as close as 2.5 centimeters (1 inch).
Mate P20 models take advantage of artificial intelligence features built into Huawei’s own Kirin chipsets.
Features available to Mate 20 users include being able to isolate human subjects and desaturate the colors around them in order to highlight people against their backgrounds.
Gartner analyst Roberta Cozza said that in a highly commoditized smartphone market of look-alike phones, Huawei is managing to differentiate itself with camera and personalisation features.
“With the Mate 20, Huawei is setting the bar for what users can expect from photography using a smartphone,” Cozza said.
At its global product launch event in London, Huawei is expected to undercut Samsung and Apple’s premium phone prices, which are well above the $1,000/1,000 pound mark.
“Huawei is clearly ticking all the key boxes needed to displace rivals — and not just Android-powered rivals,” said Ben Wood, research chief of mobile industry consulting firm CCS Insight.
Wood said Huawei’s move to match Apple iPhone’s characteristic swipe gestures and face unlock features on its Mate 20 Pro could, in theory, make it easier for committed Apple buyers to switch, although he said that was unlikely near term.
“But it’s clear that Huawei has an eye on the future and is ready to take share from Apple if the time comes that a loyal iPhone owner decides to try something else,” he said.
The new premium phone line-up from the world’s biggest telecom equipment maker includes four models, the Mate 20, Mate 20 Pro, Mate 20 X, with a 7.2-inch display screen, and a Porsche Design limited edition phone. — Reuters

Sun LTE capacity improves amid Cebu network upgrade

PLDT, INC. said it has expanded its Long Term Evolution (LTE) services for its wireless brand Sun in Cebu.
In a statement on Wednesday, the telecommunications giant said more than 80% of cell sites in Cebu now have LTE technology, covering Metro Cebu and tourist locations such as Oslob, Moalboal, Daanbantayan, Medellin, Toledo City, Bogo City and Carmen. Also covered were Badian, Balamban, Barili, Catmon, Madridejos, Sibonga and Tabuelan.
“Sun’s newly upgraded network all over Cebu allows its customers to instantly share their stories, as they go about their day,” Smart Communications Vice-President for Prepaid Marketing Carlo Endaya said in the statement.
The company said the network upgrades now allows Sun subscribers in Cebu to experience LTE speeds of up to 50 megabits per second (Mbps).
“LTE is the best technology to help bring fast, affordable and reliable mobile internet services to as many customers as possible. It is also quickly upgradable to LTE-A, which can provide even greater capacity and speeds to users with capable smartphones,” the company said.
LTE-A is an upgraded version of LTE that can bring bigger capacities and speeds to its users.
The company said internal tests showed speeds ranging from 10 Mbps to 50 Mbps were recorded using a Sun LTE SIM and an LTE smartphone in key spots in Cebu. Sun subscribers are encouraged to upgrade 3G SIM to an LTE SIM.
Smart has committed to the government to grow its nationwide third generation (3G) and LTE coverage to 90% by the end of the year. It said in August it has upgraded more than 92% of sites in Metro Manila with LTE.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Denise A. Valdez

A radical plan to slow climate change: Eat less meat

IF YOU want to save the planet, put down your burger. Or rather, finish it, savoring every single bite, and mentally prepare yourself not to have another until at least next week.
Raising animals for food is a major contributor to climate change, responsible for an estimated 14.5% of all global emissions. Following the recent UN report on the dire prospects for the future of the planet, the Climate, Land, Ambition & Rights Alliance has presented its own self-described “radical” plan to keep global temperatures from rising more than 1.5° Celsius (1.8° Fahrenheit). The report rejects many of the UN’s technologically driven mitigation solutions, such as carbon capture and geoengineering, in favor of a simple approach.
The bottom line: Eat less meat — a lot, lot less.
By limiting individual meat consumption to about two five-ounce servings per week, the group argues it can solve more than just climate change. CLARA envisions change on a “truly massive scale” that would fundamentally alter the way food is produced in the US and the rest of the world. The personal sacrifice would help tackle biodiversity loss, violations of indigenous rights, and food insecurity, the group contends.
The authors call for a move away from the monoculture of the modern food system, for reforestation and farming systems that require more labor and fewer inputs, shorter supply chains and less waste. Instead of growing feed for livestock, the report says, cattle should be grazed on a rotational system that has the potential to make pastures both more productive and able to sequester carbon. Livestock should be fed “ecological leftovers,” or the scraps humans leave behind — food waste and crop stubble — instead of what has been specifically grown for them.
Humans don’t just need to eat less meat and dairy. We need to eat less. “Unnecessarily high-calorie diets also contribute significantly to GHG [greenhouse-gas] emissions,” the report notes.
Mitigation plans that focus more on lifestyle change than bioenergy with carbon capture and storage “don’t violate the laws of physics,” says Zeke Hausfather, US analyst at Carbon Brief. “But convincing the vast majority of the world’s population to change their behavior without fairly heavy-handed government intervention sounds quite difficult.”
Natural solutions to climate change, like reforestation are “the most efficient, economical and effective way to remove carbon dioxide from the atmosphere,” said William H. Schlesinger, dean emeritus at Duke University’s Nicholas School of the Environment, even if they are not enough on their own. As for rejecting the technological solutions espoused by the UN, he said, they are “largely unproven.”
While the report envisions a totally transformed global food system, it does not lay out plans to enact one.
“It will take a lot of political will,” said author Doreen Stabinsky, a global environmental politics professor at College of the Atlantic. “But we’re being forced into making it politically possible.” — Bloomberg

After hike, Fed minutes may hint on path ahead

MARKET PARTICIPANTS have a burning question for the Federal Reserve: How high will policy makers hike interest rates before pausing for a breather?
Meeting minutes set for release at 2 p.m. Wednesday in Washington are unlikely to offer answers, but they may drop a few hints about how officials are thinking.
At its Sept. 25-26 gathering, the policy-setting Federal Open Market Committee raised interest rates and scrapped its description of the monetary stance as “accommodative.” Since then, Chairman Jerome Powell and New York Fed President John Williams have each delivered public remarks multiple times, and their colleagues have popped up to speak from Michigan to Massachusetts.
The flurry of Fed-speak has made it clear that officials still think policy is easy and are comfortable with continued gradual increases, but have yet to decide how high rates will ultimately climb. Now the minutes could flesh out what factors are informing their debate on the location of the neutral rate — a highly-uncertain dividing line between easy and tight money — and whether they should go above it.
“Do they give you any insight yet on what they think is neutral?” said Stan Shipley, an economist with broker and researcher Evercore ISI. “That’s still going to be a debate, do they think that they should move away from tightening to neutral rates, and what is neutral.”
NEUTRAL OR NOT?
It’s been an eventful couple of weeks since the Fed last met: rates on longer-dated Treasury securities have risen, stock prices have taken a hit, a deal to update the North American Free Trade Agreement has been announced, and President Donald Trump unleashed a rash of comments criticizing the central bank’s rate increases. All of that activity, paired with the bevy of recent Fed speeches, could leave these minutes slightly out of date.
Still, the notes could help to cut through some of the noise surrounding neutral rates. Powell and Williams, one of his key lieutenants, have been de-emphasizing the equilibrium rate, commonly called r-star. That’s because it’s difficult to estimate with precision.
But abandoning some sort of long-run equilibrium estimate altogether is akin to hiking without a destination: officials regularly invoke r-star to give guidance on how high rates might rise and whether they’ll cool off the economy. Chicago Fed President Charles Evans said last week that policy may exceed his estimate of neutral — currently three rate hikes away — by 50 basis points, for example.
“What we’re looking for some clarity on is even how much the whole concept of r-star is guiding them here,” said Priya Misra, head of global rates strategy at TD Securities in New York. “If you really don’t believe in neutral because it’s such a wide uncertainty band, then how can you say you’ll go above that level?”
OVERSHOOT PLANS
Evans isn’t alone. The central bank’s September economic projections suggest the median Fed official expects to exceed the long-run equilibrium rate by one quarter-point hike next year and another in 2020.
That didn’t mark much of a change from the prior dot-plot released in June, but minutes could shed light on officials’ reasons for favoring a slightly-restrictive stance.
On a related note, Fed Governor Lael Brainard suggested in mid-September that fiscal stimulus could boost the near-term neutral rate, requiring higher rates to keep the economy on an even keel. Her logic might get some air time in the minutes.
TRADE TROUBLES
Fed officials have sounded pleased in recent speeches about getting close to their twin goals of maximum unemployment and low and stable inflation.
They are more worried about America’s ongoing trade spats.
It’s important to watch “how much they talk about trade as a potential dark side, potential sign of impending weakness,” said Alan Detmeister, an economist at UBS Group AG who formerly headed the Fed’s research and analysis of prices and wages.
Trump said Sept. 17 that the US would impose tariffs on $200 billion of Chinese goods, escalating America’s trade spat just ahead of the Fed meeting. While the ongoing tiff isn’t yet showing up in economic data — a fact Powell and his colleagues have pointed out — it could feed through to inflation later in the year, Detmeister said.
That could matter for markets. Equity prices fell after a bump-up in wages at the start of this year. If inflation moves higher and stocks swoon, the Fed could face tough choices.
Already, the central bank may grapple with a miniature version of that problem as analysts blame impending interest-rate hikes for the recent stock dip. Minutes will offer little insight into how the Fed will react — the selloff came post-meeting — but regional Fed speakers have taken it in stride.
“Tighter policy should mean tighter financial conditions, and we should see some of those tighter financial conditions in lower equity valuations, higher yields,” said Laura Rosner, senior economist and partner at MacroPolicy Perspectives LLC in New York, who formerly worked at the New York Fed. “I think it’s a healthy thing, from the Fed’s view.” — Bloomberg

Samsung launches Galaxy A7, A9

SAMSUNG Electronics Ltd. last week launched two new smartphones in its mid-range line, with one featuring what it said is the world’s first quad read camera.
The mobile phone giant announced the new Galaxy A7 and Galaxy A9 last week, which be available in the Philippines this month and in December, respectively.
The updated Galaxy A7, which will be available locally starting Oct. 27, will retail for P17,990. The phone features a triple rear camera, which includes an 8MP 120° ultra wide lens said to be at the same viewing angle as the human eye, a 5MP (f2.2) lens which, with the phone’s Live Focus feature, allows users to control a photo’s depth of field, and a 24MP (f1.7) lens. The A7 also has a 24MP front camera and adjustable LED flash.
The smartphone has a 2.2 GHz octa-core chip, with 4GB RAM and 64GB in internal storage, expandable via a MicroSD card. It features a 6-inch, 1080 x 2220 Super AMOLED screen, with a battery capacity of 3,300 mAh equivalent to about 23 hours of talk time. The Galaxy A7 also has a facial recognition feature and a side fingerprint sensor.
The Galaxy A7 will be available in three colors: blue, black, and gold. The phone is available for pre-order from Oct. 19-26 with freebies worth up to P6,000.
Meanwhile, the new Galaxy A9 will be available in the Philippines starting Dec. 1 for P32,990. The phone’s “pioneering” quad rear camera features a 10MP (f2.4) telephoto lens with 2x optical zoom, a 24MP (f1.7) main camera, an 8MP (f.2.4) 120° ultra wide lens, and a 5MP (f2.2) depth lens. It also features a 24MP (f2.0) front camera.
The Galaxy A9 likewise has an octa-core processor and will come with 6GB RAM and 128GB in internal storage, still expandable via a MicroSD card. The phone carries a 6.3-inch, 1080 x 2220 Full HD+ Super AMOLED screen and has a battery capacity of 3,800 mAh. It is also equipped with facial recognition and a fingerprint sensor.
The smartphone will be available in to colors — Caviar Black and Lemonade Blue — and will have a 3D Glass curved back.

Sales of ABS-CBN TVplus boxes exceed 6M

ABS-CBN CORP. said on Wednesday it has sold a cumulative total of 6.1 million units of its TVplus boxes as of October, over three years since the media giant launched its digital terrestrial television (DTT) service in 2015.
In a statement, ABS-CBN cited a Kantar Media survey conducted in August that found an increasing number of Filipinos were watching television using DTT.
The survey showed that in Metro Manila, 71.6% of non-cabled households own a ABS-CBN TVplus box, from 55% in the same month in 2017. In Mega Manila, DTT penetration stood at 64.7% of non-cabled homes in August, from 44% the previous year.
ABS-CBN also noted that DTT penetration is growing significantly in the suburbs, with 57% of non-cabled households now watching television with TVplus boxes from only 33% in the same month last year.
“The continuous migration of viewers from analog to digital shows their eagerness to enjoy the life-changing benefits of ABS-CBN TVplus that include clear TV viewing, crisp sound, more exclusive channels, and an affordable pay-per-view service with no monthly fees,” the company said.
ABS-CBN was the first local broadcast company to switch from analog to DTT, amid the government’s plan to phase out analog television in five years.
“ABS-CBN, which is rapidly transitioning into an agile digital company, is also leading the country’s departure from analog following the government’s mandate for all broadcasting companies to migrate to digital TV before 2023,” it said.
In March, ABS-CBN Chief Financial Officer Aldrin M. Cerrado told reporters the company’s goal was to hit at least six million units sold by the end of the year.
Rival network GMA Network, Inc. said in May it is also working on a digital television device with an investment of P700 million. The first phase of its shift to digital television started last year when it launched signals in select locations including Metro Manila, Cavite, Rizal, Laguna, Bulacan and Pampanga. — Denise A. Valdez

NYC sale of 172-year-old wine has surprise: It’s still drinkable

By Elin McCoy, Bloomberg
IN A chilly wine warehouse in the Bronx two weeks ago, a famous Portuguese wine maker pried ancient corks from five-gallon glass demijohns of 19th century Madeira. Was the wine inside still drinkable? Madeira ages longer than other wines, but 150-plus years?
I won’t keep you in suspense. Amazingly, the answer was yes.
One demijohn held a dry sercial Madeira from 1846. Dry, spicy, tangy, and rich, it had piercing acidity and fresh, spicy aromas that lingered even in an empty glass. Another from the same era, a medium-dry apricot-colored verdelho, smelled like apricot, tobacco, and rose petals, and still had an opulent, multi-layered fruitiness that made you want to take another sip. And both are more than 170 years old.
The wines are from a collection of 18th and 19th century Madeiras discovered last year during a renovation of the Liberty Hall Museum in New Jersey. And on Dec. 7, Christie’s will offer them along with some regular-sized bottles of Madeira dating from 1796, at a sale in New York.
Francisco Albuquerque, wine maker for the Madeira Wine Company, along with cork experts from Apcor, the Portuguese Cork Association, and wine specialists from Christie’s were gathered at the warehouse to oversee the opening and recorking of the demijohns, and check to see that the wine was still alive and kicking.
But surprise! The liquid in four of the demijohns turned out to be old bourbon, not Madeira. Edwin Vos, Christie’s head of wine for Europe and a Madeira expert, first thought it might be rum. The bourbon will go under the hammer, too. Smooth and round, the one I tasted was excellent, but not nearly as complex and delicious as the Madeiras.
So how did these bottles get saved from oblivion? Thank Google.
Liberty Hall, originally constructed in 1772, was expanded to a 50-room family residence by the prominent, politically active Kean family, which owned it from 1811. When John Kean, Sr. inherited it 12 years ago, he began turning the building into a museum, which he now heads.
Last year, during a renovation, they discovered one of the largest collections of 18th and 19th century Madeira in the United States in the attic and behind a wall in a dirty, cobwebbed cellar. It included about 42 demijohns and a couple of dozen bottles of Lenox Madeira, imported by the late Robert Lenox in 1796, and probably hidden during Prohibition. Some were empty, some were not.
“I knew wine deteriorated in hot conditions, so I thought the wine in the demijohns would all be spoiled by spending so many years in the attic,” admits Kean. “I was prepared to give them to staff members to use for making lamps.”
Luckily, a young museum docent Googled up information about old Madeiras and some of the names on the bottles, and convinced Kean they could be worth something.
Enter Christie’s. When the auction house heard about the discovery, an excited Vos, Christie’s Madeira expert, visited and put in an auction proposal. “There’s not a lot of old Madeira available,” he says. “And you could say it’s the most underrated fine wine in the world.” Some was on offer in Christie’s very first auction in 1766.
Besides some bottles of 1796, Vos selected eight demijohns that seemed in the best shape and had some indication of age, as he explained while showing me a photo of the attic on his iPad. One demijohn was dated by the original paper tag tied around the neck on which “1846, recorked in 1871” was written in faded copperplate hand.
Madeira comes from steep vineyards on the mountainous, volcanic island of the same name about 400 miles west of Morocco in the Atlantic Ocean. Like Port, it’s a fortified wine, which means it’s dosed with a dollop of brandy during fermentation. Long, long ago, producers discovered that unlike ordinary vino, it’s improved by heat and in fact, seems nearly indestructible.
Which is why the liquid inside at least some of these demijohns survived in the attic of Liberty Hall for decades.
To preserve the longevity of aromas and flavors, Vos says Madeira bottles should be recorked every 20 to 30 years.
It’s a delicate operation.
At a table covered with white cloth, Albuquerque carefully cut the wax seal, wiped the top of the cork and removed it carefully with a two pronged corkscrew known as an Ah-so, then examined it for tiny insects. (Yes, really.) Microscopic analysis can prove the actual age of the cork, which would have been harvested about 18 months before its use.
Apcor was tasked with providing the right corks, requiring precise measurement of the bottleneck. “A single cork usually contains 800 million cells, the almost perfect corks we’re using today contain many, many more,” explained Carlos de Jesus, operating director of Apcor. There was no worry about cork taint — a new recently invented software technology is able to guarantee corks free of taint. But the corks will have to be redesigned; temporary ones were inserted instead.
Back in the day, Madeira was the prestige drink for wealthy Americans, reportedly used to toast the signing of the Declaration of Independence and popular in Washington long before bourbon became a Congressional drink.
American financier John Pierpont Morgan liked to sip old vintages while cruising on his yacht Corsair. The oldest I’ve ever sampled was a Borges Bual Madeira from 1780, a vintage which could have been drunk by Thomas Jefferson. It was still delicious, with flavors of caramel and bright candied fruit, its lively acidity intact after more than two centuries.
Sadly, though, Madeira went through a century-long slump, only emerging again in the past few years. The chance to taste history has been inspiring new group of collectors to seek out old Madeiras. In 2017, a Dutch collector paid the record sum of $39,000 for one bottle from 1715. Christie’s has made rare Madeira a regular fixture in its final round of wine auctions before Christmas.
It’s easy to see the appeal of a single bottle of Madeira. But who wants to buy a heavy demijohn that would be a struggle to pour from? Vos admitted that his original preference was to rebottle the wine from each demijohn into individual bottles. That’s what 19th century importers did, but today regulations don’t permit it without a bottling license.
Still, I get the appeal: As I sipped the 1846 I was thinking that was the year the US government annexed Texas and Sonoma started a rebellion against Mexico and proclaimed the Bear Flag Republic of California.

Fitbit Flyer: Great sound, premium design

FITBIT FLYER is a pair of in-ear Bluetooth headphones launched early this year in the Philippines alongside Fitbit’s first true smartwatch, the Ionic. It sports a durable, ergonomic design with waterproof coating that repels rain, splash, and sweat. It also comes with interchangeable ear tips to ensure snug in-ear fit.
All these are pretty much expected from the leader of fitness wearables, but as Fitbit’s first wireless headphones, one would wonder if the Flyer can deliver quality audio, especially when it retails for P6,790, which is relatively above the average price of Bluetooth headphones on the market.
DESIGN AND FEATURES
The Flyer comes in two variants: a dark model, which Fitbit calls “Nightfall Blue” and a light one called “Lunar Grey.” The unit used for this review was Lunar Grey which, as the photos show, is basically white with metal accents. It looks more elegant than the darker model and is likely designed to capture female users.
The first thing you will notice about the Flyer is that it comes with two clunky ear pieces. Each ear piece is almost an inch thick and feels weighty when worn. The ear pieces, however, do a great job at sealing shut the ear canal, which helps muffle ambient noise even though the Flyer doesn’t have an active noise-cancelling mechanism. (It does have a passive noise-cancelling feature, which we’ll get to later).
Included in the package are three different sizes of ear tips, two pairs of “wings” and two pairs of “fins” — all designed to help keep the headphones in place during workout. Both the wings and fins are shaped to follow the fold of the ears to guarantee comfortable and secure fit. I found the fins the best ones to use during workout because they held the ear pieces in place much longer than the wings did and hurt less when worn on extended period.
The ear pieces are held by a flat, rubbery band long enough to wear around the neck. The band seems sturdy enough to withstand excessive wear and tear. There’s a three-button control box about two inches from the right ear piece, which lets you control the volume, pause and change tracks, as well as answer/end phone calls. Pressing the Up and Down buttons at the same time activates the Power Boost, which amplifies bass, equalization and stereo feel to the music you’re listening to.
The Flyer can connect to two Bluetooth devices at once, which means you can easily switch back and forth between listening to music from your Fitbit fitness tracker and taking a call on your mobile phone. With its built-in microphone, you can also answer calls or activate voice commands (Siri, Google Assistant, or Cortana) through the Flyer.
PERFORMANCE
Setting up the Flyer is fairly straightforward and it paired instantly with my Fitbit Ionic as well as my Android phone. It can store up to eight Bluetooth-enabled devices in its memory, but it can connect to only two devices at once. Take note that when more than two of the paired devices are within the Flyer’s range, connectivity may become a problem — at one point, the Flyer couldn’t be detected at all — so it’s best to deactivate Bluetooth in the other devices that won’t need connection.
There was also occasional connection loss during workout. There were times when music was cut off during my morning run and signal tends to break easily even when I walk just a few steps away from my phone. This issue is usually solved by restarting the Flyer’s connection to the device.
According to the Fitbit website, the Flyer has been engineered to offer “high quality, clear audio with dynamic range.” Fitbit boasts that the Flyer is the first to incorporate Waves MaxxAudio technology, which is used for audio production in hit records, major motion pictures and video games. Now I’m no audiophile but as far as sound quality goes, the Flyer does a great job packing a punch to workout tracks like “Boom boom pow” by the Black Eyed Peas and “Stronger” by Kanye West. Its passive noise isolation also blocks out ambient noise remarkably well. For instance, wearing the Flyer in the gym drowns out the sound of people pounding the treadmill. You can still hear people talking but it’s toned down.
The Flyer’s advertised battery life is up to six hours of playback on a single charge, but I got nowhere close to this whenever I took the Flyer out for a morning run. After 45-minutes to an hour of workout, the Flyer’s battery level, as indicated by a voice prompt, drops from “full” to “medium.” With the Flyer still on while I’m resting, then taking it off while I hit the shower and putting it back on when driving back home, I would say it lasts up to three hours of non-stop listening. On its website, Fitbit explains the battery life varies depending on one’s usage, which factors in the type of music played and the volume level. The good thing about the Flyer though is that is charges really fast. A 15-minute charge would give the Flyer an extra hour of playtime.
VERDICT
With a sweat-proof design and plenty of accessories to ensure comfortable fit, the Flyer is the perfect companion for your Fitbit fitness tracker. Despite its flaws, like short battery life and some connection hiccups — which are common among Bluetooth-enabled headphones, by the way — the Fitbit Flyer is still a good choice for those looking for an elegant pair of earbuds that can handle intense workouts and also deliver impressive audio performance. — Mira Catherine Gloria
 
Fitbit Flyer can be purchased online at Lazada for P6,790.

Wärtsilä eyes opportunities in Philippines

By Victor V. Saulon, Sub-editor
WÄRTSILÄ Philippines, Inc. is ready to take advantage of opportunities in the Philippines once the liquefied natural gas (LNG) industry takes off. This as the government moves closer to firming up plans on how it will choose the developer of an integrated import terminal for the fuel.
“LNG is really a challenging topic but we are active already, for example in Indonesia. We know that sooner or later LNG will come here and of course we try to position ourselves,” said Ville Rimali, Wärtsilä business development manager for Southeast Asia and Australia, in an interview.
Wärtsilä is an engineering, procurement and construction (EPC) provider for power plant developers. In the Philippines, the local unit of the Finnish company has more than 1,600 megawatts (MW) of installed power capacity. It employs more than a hundred people in its main office in Laguna and contract management sites in Masbate and in Mindanao.
Mr. Rimali said what differentiates Wärtsilä from other EPC contractors is that it builds LNG-run power plants that are flexible and could be switched on or off in minutes. He said these systems are what the Philippines needs.
“Our role is really in the flexibility portion and we basically can provide flexible gas- or LNG-based power plants and energy storage,” he said.
Mr. Rimali’s business optimism comes as the Department of Energy (DoE) once again decided to tweak its energy mix policy, which guides power developers on what plants to put up to respond to the requirements of the system.
Earlier this month, Mario C. Marasigan, director of the DoE’s electric power industry management bureau, said the agency was modifying its policy to reflect the result of its latest assessment, which shows baseload plants account for 55-56% and not 70% as earlier set.
At present, the DoE’s energy mix calls for 70% baseload or power plants that remain online for an extended period, 30% mid-merit or those that can easily be switched on and off, and 10% peaking, which are mostly diesel-fired power plants.
Mr. Rimali said in the Philippines’ existing system “flexibility is the missing portion.”
“So that’s why you should build only renewable and flexible generation [plants] because all the rest you have already,” he said.
Asked whether Wärtsilä is interested in participating in the DoE’s search for partners in the development of a floating integrated LNG facility, he said: “We provide in the smaller scale not on that scale that is discussed in the Batangas.”
Philippine National Oil Co. (PNOC), an agency attached to the DoE, previously said it was looking at a floating storage and regasification unit (FSRU) in Batangas province.
“That’s a little big, too large [a] project for us. There is a Japanese contractors who may be better to do that kind. Actually you can build also smaller scale and make it economic,” he said.
He said Wärtsilä’s small-scale floating facility “in the power plant scale” has a capacity of 50 MW to 300 MW.
PNOC is planning to partner with a developer that can serve the country’s entire LNG users plus future consumers such as those in the transportation sector. Initially, the LNG hub is planned to serve the five gas-fired power plants in Batangas with a combined capacity of 3,211 MW.

Yuan’s narrow range helps keep riskier marts buoyant

THE YUAN-DOLLAR rate has fluctuated by less than a percentage point. — REUTERS

CHINA’S YUAN has been stuck in a tight range since the nation’s financial markets reopened after a stretch of October holidays, quelling currency volatility globally and buoying risk sentiment.
The yuan-dollar rate has fluctuated by less than a percentage point as traders await the expected release this week of the US Treasury’s currency manipulation report, which may call out the Asian nation.
For Kit Juckes at Societe Generale SA, the dimmed swings in the exchange rate of the world’s two biggest economies has contributed to a calming backdrop that’s bolstering higher-risk currencies and share prices. The Swedish krona and New Zealand dollar were among the leading gainers in the Group of 10 Tuesday as a rebounding S&P 500 Index notched its biggest one-day advance since March, while havens such as the yen and dollar lagged.
“USD/CNY has traded in a 0.75% range, which is helping to keep a lid on global FX volatility and prevent idiosyncratic shocks from spilling over into broader-based moves,” Juckes, a global foreign-exchange strategist, wrote in a note to clients Tuesday. “This is good policy but doesn’t make for exciting markets!”
Chinese authorities “will eventually let the currency slip a bit further,” Juckes wrote. “But in the very short term, what a steady USD/CNY does, is apply downward pressure on volatility despite the geopolitical bumps markets are facing, and lure investors back to higher-yielding and beaten-up currencies.” — Bloomberg

Cava: More than just Spanish Champagne


THE SPANISH took a page from the French when it came to their sparkling wines. The invention of the bubbly drink known as champagne, the first recorded sparkling wine, was credited to an abbot priest from Hautvillers named Dom Perignon in the 17th century in the Champagne region, France.
This invention would later be known simply as Methode Champenoise, a method that requires two separate fermentations in the making of sparkling wines. The first fermentation takes place in stainless steel tanks, and the second fermentation takes place in the bottle — the same bottle that will reach us, the consumers, as the finished product.
The second fermentation is the one that creates the delicate bubbles or effervescence and its’ longevity. All sparkling wines under this method go through a minimum disciplined period of 15 months, and have to undergo the very tedious remuage process (also known as “riddling,” the slow racking and tilting of the bottle from level position to inverted position, without agitating the yeast), and “disgorging” (when the used yeast is removed). The resulting sparkling wine is one that has a much more complex nose and resulting bubbles that are not only finer, but also longer lasting. You can compare the effervescence when you try either an Asti Spumante or Prosecco — both huge Italian sparkling wines, side by side with a French Champagne. Both Italian bubblies use the simpler Charmat Method or Tank Method, where secondary fermentation takes place in larger pressurized tanks. Both sparkling wines will have courser bubbles and the effervescence will not survive long in the glass after pouring.
SURVIVAL INSTINCT
The champagne phenomenon was the inspiration behind Spanish cava. In 1872, Don Josep Raventos, a descendant of Don Jaume Codorniu, founder of Codorniu (one of the largest cava manufacturers in Spain), made the first recorded bottle of cava in the Penedes region, Northeastern Spain. This was a creation done for survival.
At that time, the dreaded phylloxera plague — louse-like insects that prey on the vineyards — was destroying the vineyards of the predominantly red varietals in Penedes, thus leaving the region with only the white varietals. Unfortunately during that period, the white varietals were not commercially viable when made into good still wines. After learning of the success of French champagne, Raventos cleverly studied the process and worked on its adaptability. With much study and resolute determination, Raventos pushed for the creation of the Spanish version of the champagne, using the same Methode Champenoise, and using abundantly available indigenous Spanish white varietals macabeo, xarello, and parellada. This was the birth of Spanish cava.
A decade later, Manuel Raventos, son of Don Josep, started the ambitious promotion of cava across Europe, and, by 1888, the Codorniu Cavas would win the first of many gold medals and awards, establishing the much needed foothold for Spanish cavas outside of Spain. The rest, as the saying goes, is history. The Raventos name is still very much revered, with its own eponymous cava label, the Codorniu Cuvee Raventos Cava, being the bestselling premium cava in the world.
Fast-forward to modern times — Spanish cavas are on a consistent rise, with production volumes now reaching over 18 million cases (of 9 liter cases), second only to the French champagne. Spanish cava export has more than doubled in the last 10 years, proving that the world is slowly embracing Spanish sparkling wine. And since the Spanish Cava Regulatory Council has less stricter geographic coverage on its D.O. (Denominacion de Origen), the potential of cava in terms of expansion is still far greater.
The registered vineyards for cava are also far bigger than those in Champagne. The wide area of cava defies the usual definition of D.O., which restricts production to a particular demarcated area. In the case of Cava D.O., the name Cava denotes more of a quality standard, specifically the use of Method Champenoise, rather than a regional coverage. The Cava Regulatory Council has, however, permitted a list of areas to be considered Cava D.O., largely in Catalonia, where close to 95% is in Penedes, but also included are those vineyards in La Rioja, Aragon, Castile y Leon, Extremadura, the Basque Country, Navarre, Extremadura, and Valencia.
The Methode Champenoise also became easier with the Spanish invention of the gyropalette, a mechanical device used to riddle (remuage) hundreds of bottles of cavas at any time. This is the method used by the big cava houses in mass-producing their sparkling wines, and with a shorter remuage period. Cava is also Spain’s largest wine export, exceeding that of Rioja, Spain’s most prominent wine region, for almost 10 years now. Cava is surely creating its own identity as cava, and not simply as Spanish Champagne.
BEST VALUE QUALITY BUBBLIES
One of the reasons for the rise of cava is the price advantage. The commercialized success of Champagnes has made the French bubblies’ prices very high. For Spanish cavas, they have to fight the perception of inferiority, especially having to work with relatively unknown Spanish grape varietals macabeo, xarello, and parellada. This augurs well for us consumers, as cavas still have friendly prices and are within our budget.
While admittedly, these three Spanish white varietals do not come close to their Champagne varietal counterparts — namely the most adored chardonnay and the royal pinot noir — these Spanish grapes still exude wonderful aromas, crisp acids, and nice complex flavors that include petals and citrus fruits. Macabeo, is a wonderful inexpensive basic dry white wine that makes decent solo La Mancha D.O. wines, and is also known as Viura, in your basic white Rioja D.O. wine. The xarello is used in a nice majority of solo wine in the Penedes region, and is one of those possible upcoming Spanish whites to look out for. Parellada, on the other hand, is more like a third wheel in this blend and contributes to the floral elements of the wine as well as extra acidity.
In the last decade, the Cava Regulatory Council has allowed both chardonnay and pinot noir (the two most important of the three mainstays of Champagne) to be part of the cava blend. While, I understand why major cava houses would do this, I just feel that cavas should still be more Spanish, in terms of adhering to its indigenous grapes. The use of chardonnay and pinot noir grapes is also bound to cause the prices of cave to skyrocket by creating more Cuvee Prestige styles to rival their French Champagne counterparts.
It would really be interesting to see how cava evolves over time. For now, I’ll take my regular cava and drink to my heart’s delight. After all, a Codorniu Classico Brut or a Freixenet Cordon Negro Brut is just one-fourth the cost of a Moet Chandon. And that is reason enough to celebrate!
The author has been a member of the Federation Internationale des Journalists et Ecrivains du Vin et des Spiritueux or FIJEV since 2010. For comments, inquiries, wine event coverage, and other wine-related concerns, e-mail the author at protegeinc@yahoo.com. He is also on Twitter at twitter.com/sherwinlao.