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Drinking the Pope’s wine


POPE FRANCIS is a popular Pope, and while he answers ostensibly to God, he is like a normal celebrity: he has pictures taken with other famous people, people pay attention to what he wears, and he has to deal with some of the intricacies that other celebrities face. When he visited the Philippines in January of 2015, crowds swelled to the thousands to greet him. Like most celebrities too, what wine he consumes is of some interest, and on June 12, guests at Chef Jessie’s in Rockwell were treated to glasses of the very same wine that Pope Francis drank during his visit.
Chef Jessie Sincioco, president and CEO of the Chef Jessie restaurants, recalls what she served Pope Francis. She presented the papal nuncio — who recommended her to the Pope — with a menu composed of Filipino dishes. The papal nuncio politely declined this menu, saying that they must not risk giving the Pope anything unfamiliar, lest they upset his stomach. Ms. Sincioco then composed another menu with Italian and Argentine favorites, which the papal nuncio approved.
According to Ms. Sincioco, the Pope’s favorite dish was a roast beef, and he wanted it “alive,” meaning very rare and bleeding. “Someone up there must really love me,” said Ms. Sincioco, reminiscing that she had slow-cooked a slab of beef for eight hours, and having a middle piece that was rare, as per the pope’s request, was a sheer stroke of luck.
This slice of roast beef, resurrected at the July 12 dinner as a Filet Mignon with a morel sauce, was paired with Menhir Salento’s Primitivo Quota 29, which had a scent of coffee and roses, and had a powerful flavor that was almost savory. Not quite the Pope’s wine — we’ll get to that.
The Pope favored a Negroamaro N.0 IGP from Menhir Salento, and this was paired with a fillet of sea bass in a tomato soup. The Pope likes his wine strong, this one has an opening note of wood and tobacco in the wine’s scent, and a strong tannic note in its taste. The pairing was risky, as it could have killed the delicate flavor of the sea bass, but instead, they temper each other in a teetering balancing act, for it cuts through the acidity of the tomato sauce, while the tomato sauce makes the wine more gentle. Brava.
Most of the dinner, prepared by chef Musaro Rocco Roberto (a chef brought in by the wine company from one of its restaurants) and Ms. Sincioco, was centered on this balancing act. A fragrant and light Fiano Pass-O Bio IGP Puglia from the brand was used, for example, to give liveliness and joy to a simple dish of tubettini, beans, and cheese, while a piquant Negroamaro Rosato Novementi (a bit like a rosé), was used to complement a squid.
Adriano Stefanutti, the wine’s importer and distributor for the Philippines through his company iPhor Trading Inc., said that the grapes are indigenous to the Puglia region, and even possess a quality where if they were attempted to be grown anywhere else, they would die — giving the wines an almost sentimental quality. In describing the people of Puglia, he says, “They have a temper, [but] they have an open character.”
“This is the character of the wine as well: very strong, but at the same time, there is a sweetness to it.” — Joseph L. Garcia

IBM’s debating AI battles it out with human champion, wins

ARTIFICIAL intelligence (AI) has proven itself adept at some of humanity’s favorite games, from chess to the much more complex board game Go. Now, a machine developed by IBM is challenging humans to debates about the future of medicine and the value of physical education.
International Business Machines Corp.’s (IBM) Project Debater faced off in public for the first time Monday, taking on a crack two-person team of humans, which included the 2016 Israeli national debate champion. The robot held its own during two short debates, and at moments, showed more than a little flair. It even convinced people in the audience to change their minds.
“There is a lot at stake today,” the machine said as its opener in a debate where it took the position that society should increase use of telemedicine. “Especially for me.” Later, the robot lamented that it couldn’t say the situation made its blood boil because “I have no blood.”
Jokes aside, a machine that probes and questions human arguments has clear real-world applications. Lawyers could ask it to search thousands of court cases to pull out the most viable arguments, CEOs could put their theses to the test as a way to shore up a presentation to the board about company strategy, and teachers could employ it en masse to help their students develop critical thinking skills without having to have one-on-one sessions.
“It’s clear that something like that is relevant to anything that has to do with decision making,” said Ranit Aharonov, manager of the debating technologies team at IBM in Haifa, Israel.
IBM has a history of using publicity stunts to cast an aura around its technology. The bot debater demonstrated in San Francisco isn’t being deployed commercially yet, and IBM’s record on bringing artificial intelligence to the real world is mixed. In 2011, the company entered its Watson AI technology in the quiz show Jeopardy. The machine won, but IBM still doesn’t disclose exactly how much revenue Watson generates.
Project Debater works by cobbling together multiple algorithms and AI techniques, detailed in academic papers put out by IBM Research over the last several years. Once the computer is told the topic, it scans a database of millions of news and academic articles, using an algorithm to decide which snippets of text are relevant and “argumentative.” Another algorithm cuts repetitions. During the debate, a voice recognition system listens to the machine’s opponent, adding another layer where things could go wrong if the robot mishears. Project Debater can make an effort at any argumentative topic, whether it’s been trained on it or not, researchers said.
During the debate at IBM’s offices in San Francisco, the robot spoke clearly, used correct grammar, generated relevant points and responded to arguments its human opponent made. After laying out its position on telemedicine, the robot changed the minds of nine audience members who had previously not agreed with the notion that society should increase telemedicine’s use.
In that debate and an earlier one on whether the government should support space exploration, the audience of mostly journalists and analysts said the robot scored better than the human debaters on enriching their knowledge. But the human debaters scored better on delivery, perhaps because the robot sounded, well, robotic.
The silly self-referential comments such as “I have no blood,” were intentional and desirable, said Aharonov. “We thought about what kind of persona we should have,” she said. “We’re trying to show this is a computer.” Recently, Google drew criticism for letting a personal-assistant robot pass itself off as human during a phone call.
The IBM project started in 2012, when the robot lacked the urbanity it showed off Monday. In one early debate on physical education, it kept bringing up sex education, researchers said. Another time, it detoured into the topic of procreation and mentioned that as a robot, it couldn’t have its own children — during a debate about pornography.
“Sometimes, it is making a joke at not the right moment,” said Noam Slonim, a senior researcher on the project. — Bloomberg

TDF demand thins amid lingering uncertainties

By Melissa Luz T. Lopez, Senior Reporter
DEMAND for term deposits grew even weaker yesterday, with banks crowding the week-long tenor as they take a wait-and-see stance on developments in financial markets.
Bids for the term deposit facility (TDF) reached P100.634 billion on Wednesday, just matching the P100 billion offered by the Bangko Sentral ng Pilipinas (BSP) and slipping further from the P113.158-billion tenders a week ago.
Players rebalanced their positions to bet big on the week-long term deposits, leaving the two-week and one-month instruments undersubscribed for the second straight week.
The seven-day tenor attracted offers worth P64.409 billion, picking up from last week’s P58.282 billion to again surpass the P40 billion which the central bank wanted to sell.
As a result, the average yield sought by banks inched lower to 3.6927% from the 3.6979% fetched the previous week. This came as bidders asked for returns from a narrow 3.6-3.7% range.
Appetite for the 14-day deposits also thinned, as tenders amounted to just P28.016 billion against a P40-billion offering. This also slipped from the P39.095 billion bids received a week ago. The tepid demand pushed the average yield to 3.7342% from 3.7222% previously.
Demand for the 28-day term also remained slumped as the BSP only shored up P8.209 billion, barely half the P15.781 billion received a week ago and well below the P20-billion offering. In turn, yields sought by players rose to average 3.7326% from 3.7264% the prior week.
The TDF is the central bank’s main instrument in capturing excess cash in the financial system. The BSP actively adjusts auction amounts each week in order to bring market and interbank rates within its desired spread, which currently ranges from 2.75-3.75% since May 10.
BSP officials have said that banks are avoiding long lock-in periods at a time of uncertainties in the domestic and global financial markets. In particular, BSP Deputy Governor Diwa C. Guinigundo has said that they have seen stronger preference on overnight facilities rather than lock down their cash for several days or weeks under the central bank.
Yesterday’s auction comes ahead of the BSP’s rate-setting meeting, and follows a fresh rate hike from the United States Federal Reserve last week.
Next week, the central bank’s TDF offer will remain steady at P100 billion — P40 billion apiece in the seven-day and 14-day term and P20 billion worth of the 28-day deposits.

Del Monte Philippines books P2.6-B profit

DEL MONTE Philippines, Inc. (DMPI)’s net income was flat for its fiscal year ending April 2018, due to higher interest expenses amid a single-digit growth in sales.
In a statement issued Wednesday, the local unit of listed canned fruit manufacturer Del Monte Pacific Ltd. said it booked a net income of P2.6 billion, lower by P0.1 billion from the year before.
This came amid a 3.4% increase in sales to P27.6 billion for the year, two-thirds of which came from the Philippine market.
The latest annual performance indicates a compounded annual growth rate (CAGR) for the company’s sales of 7.9% from 2015, where it delivered P22 billion. For net income, CAGR stood at 31% since 2015’s net income of P1.1 billion.
“The company achieved this through improvement in gross profit from higher sales volume, margin increase from the Philippine market, higher mix of fresh pineapple sales under S&W, aided by the weak peso versus the US dollar, revaluation of biological assets, improving operational efficiency and cost management,” DMPI said.
Sales from the Philippine market alone grew 6.7% to P16.9 billion. The company attributed the increase to strong demand for food services, the sales of which accelerated by 15% to P3 billion.
“(The increase rode on) the rapid expansion of quick service restaurants and convenience stores as well as the company’s growth of its juice dispensers, meal partnerships, and customized products,” DMPI said.
Within the year, the company launched the Del Monte 100% Pineapple Juice in Tetra Pak, which is now its fastest growing segment. It also introduced the Del Monte Juice & Chews in bottles, and Del Monte Fit ‘n Right Active.
The growth from Philippine sales outpaced the 1.9% drop in export sales to P10.6 billion, due to an excess in supply in Thailand and Indonesia. Its exports included the S&W brand and private label. The company has been changing its sales mix, shifting to the growing branded business.
“The Company expanded its sales under S&W fresh and processed pineapple at a compounded annual growth rate of 28% to P3.7 billion in Asia and Middle East markets, while it reduced its private label and commodity business during this period,” DMPI said.
DMPI expects to see higher earnings for the fiscal year ending April 2019, banking on the growth of the local market. For the export market, the company aims to improve its performance with higher fresh pineapple sales under S&W, alongside increased export margins from pricing and more efficient operations.
The company earlier this month postponed its planned initial public offering of up to P17.55 billion, citing volatility in the market which may affect investor sentiment for the stock. The proposed issuance has already been approved by the Securities and Exchange Commission and the Philippine Stock Exchange. — Arra B. Francia

World’s Best Restaurant? It’s Italy’s Osteria Francescana, again

OSTERIA FRANCESCANA is the best restaurant in the world, on a night that had a sense of déjà vu, especially for the Top 10.
Chef Massimo Bottura’s modern Italian restaurant in the back streets of Modena was the World’s No. 1 Restaurant in 2016; last year it was No. 2. The biggest movement in the Top 10 was a drop by last year’s No. 1 winner, Eleven Madison Park. They fell to No. 4, after a year that saw a major renovation and a much-buzzed-about pop-up in East Hampton.
The flamboyant Bottura is known for his playful approach to classic dishes. His creations include a lasagna with only the crispy bits and a deconstructed dessert called “Oops I Dropped the Lemon Tart.” Bottura is an art lover and his food is visually exciting as well as delicious. More recently, he has become known for Feed the Soul, an international non-profit organization to feed the homeless and hungry that grew out of a community kitchen in Milan.
Bottura accepted the award on stage with his American-born wife Lara Gilmore. He said that chefs and everyone in the restaurant business must realize that they have the power to change the world.
“I am going to use this spotlight to make even stronger the changes there are going to be,” said Bottura at a press conference following his win. “Feed the planet. Fight waste. Last week Henry Kissinger asked me for a selfie. It is unbelievable. We have to involve all the community of chefs… pushing the spotlight you have to make the invisible visible is extremely important.”
The results of the annual World’s 50 Best Restaurants awards were announced before an invited audience in Bilbao, Spain. Although much was made about diversity in advance of the ceremony, there was little change in the Top 10 beyond a minor reshuffling of places. Apart from Eleven Madison Park’s drop, it was a good year for North America. The United States had four more restaurants in the Top 100, up from nine last year. Mexico had two restaurants in the top 15; in 2017 the country’s highest entry was 20.
The World’s 50 Best Restaurants list is organized and compiled by William Reed Business Media. It is created from the votes of more than 1,000 restaurateurs, chefs, food writers, and gastronomes. The voters are split into 26 separate regions around the world. Each region has its own panel of 40 members. (This article’s co-author, Richard Vines, formerly chaired the UK and Ireland panel but is no longer involved.)
Winning the 50 Best is great for business. The day after El Celler de Can Roca first topped the list, in 2013, its website got 12 million visitors and the restaurant hired three extra staff just to turn down requests for tables. Noma’s Rene Redzepi said he could have filled his restaurant for almost 15 years with the booking requests the day after he first won, in 2010
The awards started in 2002 as a feature in Restaurant, a UK publication founded the previous year. It grew out of a brainstorming session in a pub to promote the magazine. The editors sent e-mails to journalists and chefs to pick their favorite places, like a music magazine compiling a best-albums list. The response was overwhelming and the annual awards were born.
Ahead of Tuesday evening’s ceremony, three awards were announced: Clare Smyth, of Core by Clare Smyth in London, won Elit Vodka Best Female Chef; Gaston Acurio of Astrid & Gaston in Lima won Diners Club Lifetime Achievement; and SingleThread, a farm restaurant in Northern California won the Miele One to Watch. The second part of the list, 51-100, was also previously announced.
WORLD’S 50 BEST RESTAURANTS
Here are the results (last year’s place in parentheses):
1. Osteria Francescana, Modena, Italy (2)
2. El Celler de Can Roca, Girona, Spain (3)
3. Mirazur, Menton, France (4)
4. Eleven Madison Park, New York (1)
5. Gaggan, Bangkok (7)
6. Central, Lima (5)
7. Maido, Lima (8)
8. Arpège, Paris (12)
9. Mugaritz, San Sebastian, Spain (9)
10. Asador Etxebarri, Axpe, Spain (6)
11. Quintonil, Mexico City (22)
12. Blue Hill at Stone Barns, Pocantico Hills, US (11)
13. Pujol, Mexico City (20)
14. Steirereck, Vienna (10)
15. White Rabbit, Moscow (23)
16. Piazza Duomo, Alba, Italy (15)
17. Den, Tokyo (45)
18. Disfrutar, Barcelona, Spain (55)
19. Geranium, Copenhagen (19)
20. Attica, Melbourne (32)
21. Alain Ducasse au Plaza Athénée, Paris (13)
22. Narisawa, Tokyo (18)
23. Le Calandre, Rubano, Italy (29)
24. Ultraviolet by Paul Pairet, Shanghai (41)
25. Cosme, New York (40)
26. Le Bernardin, New York (17)
27. Boragó, Santiago (42)
28. Odette, Singapore (86)
29. Pavillon Ledoyen, Paris (31)
30. D.O.M., São Paulo (16)
31. Arzak, San Sebastian, Spain (30)
32. Tickets, Barcelona (25)
33. The Clove Club, London (26)
34. Alinea, Chicago (21)
35. Maaemo, Oslo (79)
36. Reale, Castel di Sangro, Italy (43)
37. Restaurant Tim Raue, Berlin (48)
38. Lyle’s, London (54)
39. Astrid y Gastón, Lima (33)
40. Septime, Paris (35)
41. Nihonryori RyuGin, Tokyo (52)
42. The Ledbury, London (27)
43. Azurmendi, Larrabetzu, Spain (38)
44. Mikla, Istanbul (51)
45. Dinner by Heston Blumenthal, London (36)
46. Saison, San Francisco (37)
47. Schloss Schauenstein, Fürstenau, Switzerland (72)
48. Hiša Franko, Kobarid, Slovenia (69)
49. Nahm, Bangkok (28)
50. The Test Kitchen, Cape Town (63)
And here are the previously announced winners of places 51 to 100.
“NEW ENTRY” indicates the first time the restaurant has appeared on the list. “RE-ENTRY” indicates its reappearance in list after a year of absence (i.e. due to a closing/renovation).
51. De Librije, Zwolle, Netherlands (34)
52. L’Astrance, Paris (46)
53. Benu, San Francisco (67)
54. Sühring, Bangkok **NEW ENTRY
55. Don Julio, Buenos Aires **NEW ENTRY
56. Amber, Hong Kong (24)
57. Nerua, Bilbao, Spain (56)
58. Brae, Birregurra, Australia (44)
59. Florilège, Tokyo (99)
60. Tegui, Buenos Aires (49)
61. Burnt Ends, Singapore (53)
62. Momofuku Ko, New York (58)
63. Hof Van Cleve, Kruishoutem, Belgium (50)
64. Sud 777, Mexico City (75)
65. Frantzén, Stockholm **RE-ENTRY
66. Vendôme, Bergisch Gladbach, Germany (47)
67. Fäviken, Järpen, Sweden (57)
68. Quique Dacosta, Denia, Spain (62)
69. Chef’s Table at Brooklyn Fare, New York (82)
70. Selfie, Moscow (88)
71. Relae, Copenhagen (39)
72. Twins Garden, Moscow (92)
73. Aqua, Wolfsburg, Germany (70)
74. The Fat Duck, Bray, U.K. **RE-ENTRY
75. Belcanto, Lisbon (85)
76. Martin Berasategui, Lasarte-Oria, Spain (77)
77. Elkano, Getaria, Spain **NEW ENTRY
78. Mingles, Seoul (89)
79. A Casa do Porco, São Paulo **NEW ENTRY
80. Lung King Heen, Hong Kong (71)
81. Per Se, New York (87)
82. Hedone, London (98)
83. Estela, New York (67)
84. St. John, London (91)
85. Le Coucou, New York **NEW ENTRY
86. The French Laundry, Yountville, U.S. (68)
87. Maní, São Paulo (81)
88. Nobelhart & Schmutzig, Berlin **NEW ENTRY
89. The Jane, Antwerp, Belgium (74)
90. Indian Accent, New Delhi (78)
91. SingleThread, Healdsburg, U.S. **NEW ENTRY
92. L’Effervescence, Tokyo **NEW ENTRY
93. 8 1/2 Otto e Mezzo Bombana, Hong Kong (60)
94. Alo, Toronto **NEW ENTRY
95. Enigma, Barcelona, Spain **NEW ENTRY
96. DiverXo, Madrid **RE-ENTRY
97. Atelier, Munich **NEW ENTRY
98. 108, Copenhagen **NEW ENTRY
99. Leo, Bogotá, Colombia **NEW ENTRY
100. Lasai, Rio de Janeiro (76)
— Richard Vines and Kate Krader, Bloomberg

Microinsurers collect more premiums in Q1

Insurance
THE MICROINSURANCE industry posed higher premiums in the first quarter.

THE MICROINSURANCE industry saw increases in its total premium production and number of people covered in the first quarter, the Insurance Commission (IC) said.
Data based on reports submitted by microinsurance providers to the IC showed the industry’s total premiums collected in the January to March period rose 23.39% to P1.78 billion, up by P337 million from the P1.44 billion logged in the same period last year.
Broken down, mutual benefit associations (MBA) posted the highest premium contribution amounting to P1.05 billion last quarter, 58.76% or more than half of the entire market share.
The life sector collected P547.94 million in premiums, 30.77% of the total, while non-life insurers were able to produce P186.49 million or 10.47% of the total.
“We are pleased that the microinsurance industry continues to make its mark in the insurance industry,” Insurance Commissioner Dennis B. Funa was quoted as saying in the statement sent to reporters on Wednesday.
“The continuous rise in premium contribution and persons availing of microinsurance shows that more and more Filipinos are beginning to understand the value of insurance and becoming financially responsible.”
Meanwhile, the total number of insured lives covered by the microinsurance products also increased 28.09% year-on-year to 3.41 million from 26.6 million.
Overall, the MBA sector remains to rank first in terms of the number of persons covered by microinsurance products with 20.19 million individuals, followed by life insurers (11.12 million) and non-life insurers (2.79 million).
“We are motivated now more than ever to continue to spread awareness of microinsurance, not only within [Metro Manila] but all over the country,” Mr. Funa said.
The IC said it has ramped up awareness campaigns highlighting the importance and features of microinsurance last quarter. It conducted awareness drives in cities in Metro Manila, Rizal, and Batangas.
“[It is] in line with our mission to provide every Filipino the opportunity to avail of affordable insurance products that are suitable for their needs,” the Insurance Commissioner added. — Karl Angelo N. Vidal

MRC Allied’s share issuance secures SEC exemption

MRC Allied, Inc. has been exempted from the registration requirements for the more than a billion common shares it plans to issue at P0.70 apiece, the company said on Wednesday.
The company told the stock exchange it received yesterday a copy of the letter dated June 13, 2018 from the Markets and Securities Regulation Department of the Securities and Exchange Commission (SEC)
“In view of the representation of the said company that the subject securities were offered for sale to new subscribers and considering that the total number of new subscribers is not more than nineteen (19), said proposed issuance is an exempt transaction under Section 10.1 (k) of the [Securities Regulation] Code,” the SEC said.
“It is understood that any future offer or sale of these shares shall be subject to the registration requirements of the Code unless such offer or sale shall qualify as an exempt transaction,” the regulator added.
MRC Allied plans to issue 1,428,571,428 common shares, which it disclosed on May 24, 2018. The shares at P0.70 would amount to nearly P1 billion.
As of Dec. 31, 2017, the total number of MRC Allied shares owned by the public amounted to 4,094,003,250, representing 48.09% of its total issued shares and outstanding.
The company is 51.54% owned by investment house Menlo Capital Corp. It has a diverse business lines, which include energy development, real estate and mining.
SOLAR PROJECT
The company, through affiliate SunRay Power, Inc., entered into a solar energy service contract with the Department of Energy (DoE) in October 2017 to develop a 100-megawatt (MW) solar project within the New Clark City, a planned community under-development in Tarlac. SunRay previously estimated the solar project to cost P8.5 billion.
“We are waiting for endorsements that they will be sending,” Gladys N. Nalda, MRC Allied president and chief executive officer, said told reporters on Monday. “We cannot start doing anything there until we get permits.”
“We have a board-approved PSA (power supply agreement) with BCDA (Bases Conversion and Development Authority),” she added.
SunRay has a 25-year lease for 260 square meters (sq.m.) in the area, of which about 110-sq.m. is devoted for the solar project.
Ms. Nalda said the company is studying the use of the rest of the leased area.

Here are the 8 Rules for making perfect salads

HISTORICALLY, salads have been the most disrespected of dishes. They’re an afterthought on the table, overshadowed by a grilled steak, a golden roast chicken, a big bowl of pasta. Even a platter of roasted vegetables outshines “rabbit food.”
Yet, salads have been marching up the culinary hierarchy ladder. They have provoked a war in the world of fast-casual food as such chains as Sweetgreen, Tender Greens, and Chopt expand around the United States of America. A change in the salad emoji can provoke internet hysteria. Even at McDonalds, salads now rank among the all-time top 10 sellers, ahead of the Double Cheeseburger, according to howstuffworks.com.
As people pay more attention to produce, and as high-priced oils and vinegars become the norm, showing respect to salad has become increasingly important.
Enter Gayle Pirie and John Clark, chefs and owners of San Francisco’s cult favorite restaurant, Foreign Cinema. Pirie and Clark are veterans of the kitchens at Chez Panisse and Zuni Café and are skilled at crafting extraordinary salads. In fact, their new cookbook The Foreign Cinema Cookbook: Recipes and Stories Under the Stars dedicates serious space to the subject. Here are Pirie’s tips for making a salad the best part of your meal this summer.
1. Forget Vinaigrettes
“No disrespect, but they can be too heavy, especially with small, delicate summer greens. All you really need is a favorite extra-virgin olive oil, your choice of fruity vinegar — such as red wine, aged sherry, or Champagne — kosher salt, and cracked black pepper. I like a 3:1 ratio of oil to salt. Of course, there are extras that come in handy. The trick is how you toss it all together: Always lightly drizzle greens with the olive oil first; this protects them from getting overly wilted when they’re hit with the vinegar.”
2. Or, If You Must, Then Make Extra
“If you insist of having a dressing or vinaigrette, it certainly speeds up the salad-making process if you have a stash in the fridge. In fact, at parties, it’s nice to offer a couple different options. Be sure to taste a premade vinaigrette before serving — the best way is to dunk in a lettuce leaf — since vinegars and citrus juice have a tendency to dull over a couple of days. Always store your extra vinaigrette in a jar so you can shake to re-emulsify everything. (A drop of Dijon mustard also helps emulsification.)
3: Chill Your Bowl Ahead of Time…
“Make sure to chill your bowl before tossing greens and salad components in it. This ensures that the greens stay fresh and crisp. Also, make sure you use a big bowl, that the salad comes two-thirds up the sides. If the bowl is too small, you can’t toss evenly, and bits and pieces go overboard.”
4. …Or Better Yet, Don’t Use a Bowl At All
“Don’t automatically serve a salad in a deep bowl, where it’s hidden from sight. You can set lightly dressed greens — from mesclun or small head lettuces to spears of Belgian endive or little gems — on a long, wooden board, so it becomes a communal, picnic-styled dish. Add some quartered hard-boiled eggs, cheese, charcuterie, warm bread, and a chilled bottle of rosé. But leave a little space around the side, both for visual appeal and tidiness. And keep cocktail napkins handy.”
5. Double Up on Oil
“Yes, a simple vinaigrette of oil and vinegar is all you need. But you can enrich salad by adding another flavored oil — like garlic, chili, or lemon — to deliver additional flavor and a silky mouth-feel. For summer, I like to drizzle basil oil over tomato salad for an unexpected herbaceous kick.”
6. EVOO Is VIP
“If you have a high-quality, pricey bottle of oil in your pantry, this is the place to use it. A salad showcases the opulence of an extra-virgin oil better than almost anything. Of course, keep those bottles stored in dark, cool places to protect the fragile oil from light and heat — or they will turn rancid, and you’ll have to toss them.”
7. Make Sure Your Salt Is Kosher
“Sea salt and iodized salt are too strong; they literally make lettuces wilt. Kosher salt comes from the earth, so it has a milder flavor and delicate texture. If the grains are big, crush them between your fingers to ensure even distribution.”
8. Use Your Hands
“Don’t be afraid to eat lettuce salads with your hands. There are, of course, basic rules of etiquette to observe: It’s best to use sturdier greens, like little gems, hearts of romaine, or baby romaine leaves, since it’s easier to pick up and since they can cradle add-ins (like cheese and nuts). It’s also an opportunity to serve an un-dressed salad, with various shaped leaves and small ramekins of dressing, so it’s as much a dip as a salad.” — Kate Krader, Bloomberg

China-based hackers breached satellite, defense firms — Symantec

SAN FRANCISCO — A sophisticated hacking campaign launched from computers in China burrowed deeply into satellite operators, defense contractors and telecommunications companies in the United States and Southeast Asia, security researchers at Symantec Corp. said on Tuesday.
Symantec said the effort appeared to be driven by national espionage goals, such as the interception of military and civilian communications.
Such interception capabilities are rare but not unheard of, and the researchers could not say what communications, if any, were taken. More disturbingly in this case, the hackers infected computers that controlled the satellites, so that they could have changed the positions of the orbiting devices and disrupted data traffic, Symantec said.
“Disruption to satellites could leave civilian as well as military installations subject to huge (real world) disruptions,” said Vikram Thakur, technical director at Symantec. “We are extremely dependent on their functionality.”
Satellites are critical to phone and some Internet links as well as mapping and positioning data.
Symantec, based in Mountain View, California, described its findings to Reuters exclusively ahead of a planned public release. It said the hackers had been removed from infected systems.
Symantec said it has already shared technical information about the hack with the US Federal Bureau of Investigation and Department of Homeland Security, along with public defense agencies in Asia and other security companies. The FBI did not respond to a request for comment.
Thakur said Symantec detected the misuse of common software tools at client sites in January, leading to the campaign’s discovery at unnamed targets. He attributed the effort to a group that Symantec calls Thrip, which may be called different names by other companies.
Thrip was active from 2013 on and then vanished from the radar for about a year until the last campaign started a year ago. In that period, it developed new tools and began using more widely available administrative and criminal programs, Thakur said.
Other security analysts have also recently tied sophisticated attacks to Chinese groups that had been out of sight for awhile, and there could be overlap. FireEye, Inc. in March said that a group it called Temp. Periscope reappeared last summer and went after defense companies and shippers. FireEye had no immediate comment on the new episode.
It was unclear how Thrip gained entry to the latest systems. In the past, it depended on trick e-mails that had infected attachments or led recipients to malicious links. This time, it did not infect most user computers, instead moving among servers, making detection harder.
Following its customary stance, Symantec did not directly blame the Chinese government for the hack. It said the hackers launched their campaign from three computers on the mainland. In theory, those machines could have been compromised by someone elsewhere.
Symantec provides the most widely used paid security software for consumers and an array of higher-end software and services for companies and public agencies. — Reuters

Moody’s assigns CRRs to PHL banks

MOODY’S INVESTORS Service has assigned counterparty risk ratings (CRR) to 10 Philippine banks, assessing the lenders’ capability to carry out their contractual obligations.
The global debt watcher said in a report late Tuesday that it has assigned CRRs to 10 local banks, namely Bank of the Philippine Islands (BPI), BDO Unibank, Inc. (BDO), China Banking Corp. (China Bank), Land Bank of the Philippines (LANDBANK), Metropolitan Bank & Trust Co. (Metrobank), Philippine National Bank (PNB), Rizal Commercial Banking Corp. (RCBC), Security Bank Corp., UnionBank of the Philippines and United Coconut Planters Bank (UCPB).
In the statement, Moody’s said CRRs assess the capability of the banks to honor their non-debt counterpart financial liabilities or CRR liabilities.
The ratings also reflect the “expected financial losses in the even such liabilities are not honored.”
“Examples of CRR liabilities include the uncollateralized portion of payables arising from derivatives transactions and the uncollateralized portion of liabilities under sale and repurchase agreements,” Moody’s said.
The credit rater added that CRRs are “not applicable to funding commitments or other obligations associated with covered bonds, letters of credit, guarantees, servicer and trustee obligations, and other similar obligations that arise from a bank performing its essential operating functions.”
Broken down, BPI, BDO and Metrobank, the country’s biggest banks, received local and foreign currency long-term CRRs of Baa1, two notches above the Baa3 minimum investment grade.
China Bank, LANDBANK, PNB, RCBC, Security Bank and UnionBank obtained a Baa2 local and foreign currency long-term CRRs, a notch above the minimum investment grade.
Meanwhile, all the above-mentioned banks except UnionBank got a local and foreign currency short-term CRRs of P-2.
UCPB, on the other hand, received long- and short-term CRRs of B1 and NP, respectively. Both ratings are below investment grade.
“The CRRs assigned to the 10 banks are in line with the Counterparty Risk Assessments (CRA) already assigned to the same banks,” Moody’s added.
Moody’s has assigned CRAs to the local lenders since 2015 and it remain unchanged since then.
The credit rater added that it could upgrade the ratings of the local banks if Moody’s bumped up the sovereign rating of the Philippines as well as the banks’ baseline credit assessments (BCA).
Factors that could lead to the lenders’ BCA upgrade include the consistent reduction in the non-performing loans, steady increase in profitability and diversification of funding sources to reduce high-cost corporate deposits among others.
Currently, the country’s sovereign rating is at Baa2 with a stable outlook.
Last month, debt watcher S&P Global Ratings upgraded its Banking Industry Country Risk Assessment score on the local banking industry to 6 from the previous 7 buoyed by the sector’s improved credit fundamentals. — Karl Angelo N. Vidal

LBC, PDIC seek amicable settlement of case

THE Makati Regional Trial Court (RTC) has granted the joint motion filed by the Philippine Deposit Insurance Corp. (PDIC), LBC Express, Inc. and LBC Development Corp. to postpone the pre-trial to give time for the parties to discuss an amicable settlement.
In a disclosure to the stock exchange, LBC Express Holdings, Inc. said the Makati RTC Branc 143 moved the pre-trial to Sept. 6, 2018.
“With the granting of the joint motion to suspend proceedings, the parties would have the opportunity to amicably settle and resolve the case,” the company said.
In 2015, LBC Development Bank, which is represented by the PDIC, filed a case against LBC Development Corp. and LBC Express to collect around P1.8 billion in unpaid service fees.
Also tagged in the case is LBC Properties, Inc., and individuals Juan Carlos Araneta, Santiago G. Araneta, Fernando G. Araneta, Monica G. Araneta, Carlos Araneta, Ma. Eliza G. Berenguer, Ofelia F. Cuevas, Apolonia L. Ilio, Joseph Jeffrey Rodriguez, and Arlan T. Jurado.
On Wednesday, shares in LBC Express Holdings, Inc. closed at P14.98, up 2.60% or 0.38 points. — D.A. Valdez

New dining options at Sta. Lucia East Mall

THERE is a new array of dining destinations on the eastern side of the metro. As it is, the City of Marikina and neighboring areas in Rizal are already on many foodies’ must-visit lists. From the larger food hubs and parks, to hole-in-the-wall restos, the east of the metropolis has managed to carve a name for itself as a foodie haven.
At the Sta. Lucia East Mall alone, one can find many unique, homegrown food concepts.
“As the pioneer in the mall industry in this side of town, Sta. Lucia East Mall houses a growing number of traditional and new concept restaurants. Our market is used to having quite a number of food options here and that’s why we have to regularly give them something new to try and enjoy,” explained Sta. Lucia East Mall vice-president for operations Zaldy Santos in a release.
“The goal really is to ensure that mallgoers will have enough choices given the highly dynamic environment that we are now seeing in the retail industry. At Sta. Lucia Mall, we make sure that whatever budget you have, there’s always something for you to enjoy,” she said.
The shopping center located at the intersection of the Marikina-Infanta Highway and Felix Ave. in Cainta, Rizal, opened in 1991 and has since become a landmark.
As the mall marked its 27th year, new restaurants have opened to provide fresh options to customers.
Among these are Estela and Kalye Unligrill.
Estela Restaurant Bar & Lounge is owned by celebrity couple Gladys Reyes and Christopher Roxas. Located along Brickroad, Estela serves a variety of cuisines, from Filipino and Italian, to Spanish and French. The casual dining restaurant’s interiors have an industrial vibe.
At Kalye Unligrill, customers grill their own food Pinoy-style. It takes familiar street food such as isaw, to the next level, while offering this wide food assortment at affordable prices.
Then there is Maria’s, a cozy nook that offers comfort food any time of the day. Located at Il Centro, Maria’s serves breakfast, lunch, and dinner.
Other food choices at the mall include The Dimsum Place, Kuya J’s, and Pedro and Coi.
For details visit Sta. Lucia Mall’s Facebook page.

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