Facebook Instagram Linkedin X Youtube
Home Blog Page 12705

IT-BPM companies fuel Q1 office space demand

THE information technology-business process management (IT-BPM) sector continued to fuel demand for office spaces in the first quarter, amid the retention of tax perks for outsourcing companies.
A first-quarter office market report by real estate consultancy firm Pronove Tai International showed that IT-BPM accounted for more than half of the actual take-up for office spaces in the January to March period. This is equivalent to around 135,000 square meters (sq.m.) of office spaces.
“They came in with a strong start despite the tax issues that brought about uncertainties in 2017. With the TRAIN (Tax Reform for Acceleration and Inclusion) implemented in January and the tax incentives retained, we have seen that uncertainty addressed for the IT-BPM sector,” Pronove Tai Chief Executive Officer Monique Cornelio-Pronove said in a media briefing in Makati City on Wednesday.
Majority of the transactions from IT-BPM firms were located in Taguig City, Muntinlupa City, and the Bay Area.
Also driving the demand during the first quarter were traditional offices, accounting for 30% or 79,000 sq.m. of the actual take-up for the period.
Philippine offshore gaming operators (POGOs), meanwhile, occupied an additional 48,000 sq.m. in the first quarter, or 19% of the actual take-up, locating primarily in the Bay Area, Pasig City, and Makati City.
Around 250,000 sq.m. of office spaces were added to the Metro Manila office supply in the first quarter of 2018, coming mostly from Taguig City, Quezon City, and the Bay Area.
“This is driven by the letters of no objection presented by LGUs (local government units),” Ms. Cornelio-Pronove said.
Letters of no objection are documents presented by LGUs to gaming firms in order to allow them to operate in a specific area. Pronove Tai noted earlier this year that demand from POGOs may slow down given tighter government restrictions against online gaming.
Meanwhile, the real estate services firm reported that around 250,000 sq.m. of supply was added to the Metro Manila office stock in the January to March period, bringing the total office stock in the metro to 10 million. This marks a 3% increase quarter on quarter.
Majority of the new office supply are located in Taguig City, followed by Quezon City and Mandaluyong City.
The company noted that the Bay Area — touted as the second-fastest growing district for last two years — recorded zero growth for the quarter. Replacing its growth momentum was Quezon City, which logged an additional 84,000-sq.m. supply for the period.
Vacancy rates were steady at 5%, with Quezon City posting the highest vacancy at 13%, followed by Mandaluyong City and Ortigas Center with 12% and 6%, respectively. — Arra B. Francia

9 Ways You’re Ruining Your Pasta Dinner

IN 2017, Italy landed the No. 1 spot on the Bloomberg Global Health Index. Eating all that pasta pays off. If there’s a chef in the US who can offer advice on the subject, it’s Missy Robbins of Lilia in Brooklyn’s Williamsburg neighborhood. Bloomberg pronounced the restaurant a “pasta destination” in a 2016 review after it opened. Lilia has earned praise from David Solomon, Goldman Sachs’s next chief executive officer, and has lured Jared Kushner and Ivanka Trump. In her 2017 cookbook, Breakfast, Lunch, Dinner… Life: Recipes and Adventures From My Home Kitchen (Rizzoli), Robbins divulges some of her favorite recipes, from 30 (garlic) clove sauce to fettuccine with butter and truffles.
As Robbins has mastered the art of pasta cooking, she’s become militant about the steps that go into creating a perfect bowl (and occasional plate) of the stuff. Here’s her advice on where you may be going wrong when you do it.
1. You use a small pot. “Even if it looks way too big, grab a large pot,” Robbins says. “And add more water than you think you need. There should be enough space for the pasta to move around so that it cooks evenly in water that’s at a rolling boil. If it looks like your pasta is crammed in a hot bathtub of simmering water, you were too skimpy with your pot and your water. And remember that heavily salted water is essential.”
2. You add oil to your cooking water. “Here’s the short reason why: It prevents sauce from sticking to the pasta. It’s basically like adding a raincoat to whatever shape you’re using, which is not what you want in a finished dish.”
3. You grab a colander. “If you’re draining your pasta in a colander in the sink, you’re losing all the cooking water — and that water is an important ingredient for a great dish. Some pots have a basket insert, which is a larger version of the pasta baskets we use in restaurants. You can also buy one separately. Alternately, you can remove pasta from the pot with tongs for long shapes or a spider or large slotted spoon for small ones. Just remember to work fast as you extract the pasta from the water.”
4. You discriminate against the classics. “Buying expensive artisanal pasta in eye-catching shapes isn’t essential to making a delicious dish. I happen to love the De Cecco brand — it cooks evenly, has good flavor and consistent quality. Whatever brand works for you, use it.”
5. You pour sauce on top. “You’ve seen those images on jars of someone pouring sauce onto a mountain of pasta: They are completely wrong. If you’re serving a sauced pasta, you should always add the pasta to a pan of sauce and finish cooking it there. These last few minutes are crucial: They ensure that the pasta absorbs more flavor. Allow for that additional time by undercooking your pasta a little bit in the boiling water. And add spoonfuls of the pasta cooking water you reserved to the sauce as you stir the pasta; it will be a little bit thick from the starch of the pasta and help thicken and flavor the sauce.”
6. And you use too much sauce. “You don’t want your pasta that you’ve cooked so carefully to be swimming in a pool of sauce, no matter how tasty that sauce is. Allow for 1-½ to 2 cups of sauce per pound of pasta. There should be next to nothing in your bowl or on the plate when you serve it.”
7. You believe pasta belongs on a plate. “I use bowls to serve almost all pastas, from long strands of spaghetti, fettuccine, and mafaldini to short shapes like rigatoni and gnocchi. Pasta is more comfortable in a bowl, it’s more fun to eat, and there’s less chance of cooling down quickly. The exceptions to my rule are flat-bottomed pasta, namely ravioli but also varieties like the coin-shaped crozetti, which can get broken up if they’re jumbled in a bowl.”
8. You think pasta is just for cold weather. “Not all pasta sauces need to simmer. Case in point: One of my favorite recipes in the book is a no-cook cherry tomato sauce, which works any time you’ve got decent little tomatoes. If you like garlic (I’m raising my hand), spring is the best time to make a sauce with it. Use spring garlic, scapes [the flowering green stalks], along with regular garlic — a celebration of garlic, if you will. It adds so much more depth than just regular garlic.”
9. You throw out the leftovers. “Almost any leftover pasta, with the exception of stuffed ones, can have a second life as a very delicious frittata or baked dish. Add a few beaten eggs, a lot of grated cheese, and any other ingredients that sound tasty such as cooked sausage and bake in a 350°F oven in a baking dish or heatproof skillet.” — Bloomberg

Are VR gaming centers the new arcade?

SINGAPORE — Gamers wearing headsets and wielding rifles adorned with flashing lights battle a horde of zombies, letting out the occasional terrified shriek.
The virtual reality arcade in Singapore is part of a wave of such venues being opened as backers of the technology seek to shake off teething problems and break into the mainstream.
The buzz around virtual reality (VR) gaming has seen Taiwan-based HTC, Sony and Facebook-owned Oculus VR battling to woo consumers with a range of headgear.
But it has been slow to really take off, partly due to the hefty price of top-end headsets, beginning at around $350, and the challenges in setting up complex VR systems at home.
But VR arcades, which have been springing up around the world, particularly in Asia, are now giving people the chance to try it out more easily and for a fraction of the price.
“Given the complications of at-home, PC-based VR systems, pay-per-use, location-based entertainment venues can fill the gap,” said Bryan Ma, from International Data Corp. (IDC), a consumer technology market research firm, in a recent note on the industry.
Several VR gaming companies have made forays into Singapore, seeing the ultra-modern, affluent city-state that is home to hordes of expatriates as a good fit.
The zombie fight-out was taking place at a center where participants stalked a room with a black floor and walls.
“I did paintball before, it’s quite fun… but I think the whole scene is much more interesting here,” said Jack Backx, a 55-year-old from the Netherlands, who was playing with colleagues from the oil and gas industry on a work day out.
The location is run by VR gaming group Zero Latency, which started in Australia and has expanded to nine countries. It uses “free-roam” virtual reality — where gamers move around in large spaces and are not tethered to computers with cables.
It’s not all intense, shoot-’em-ups — VR group Virtual Room has an outlet in Singapore that transports gamers to scenarios in the prehistoric period, a medieval castle, ancient Egypt and even a lunar landing.
ASIA LEADS THE WAY
VR arcades have been springing up in other places. China was an early hotbed for virtual reality gaming although the industry has struggled in recent times, while they can also be found in countries across the region including Japan, Taiwan and Australia.
Many key industry milestones over the past two years have been in Asia but arcades have appeared elsewhere — London’s first one opened last year while there are also some in the United States.
Consumer spending on virtual reality hardware, software and services is expected to more than double from $2.2 billion in 2017, to $4.5 billion this year, according to gaming intelligence provider SuperData Research.
For the best-quality experience, it can be relatively expensive — a session in Singapore costs SG$59 ($45).
“The equipment here is not cheap,” said Simon Ogilvie, executive director of Tomorrow Entertainment, which runs the Zero Latency franchise in Singapore.
The industry faces huge challenges.
China offers a cautionary tale — according to IDC, VR arcades have struggled there after expanding too quickly.
There have also been warnings that improvements in home-based technology may eventually lead to VR gaming centers suffering the same fate as traditional arcades that were once filled with Pac-Man and Street Fighter machines.
“The rise and fall of coin-operated videogame arcades in the 1980s suggests that such VR arcades may eventually fade in relevance as home-based computing power and prices fall within mass consumer reach,” said the note from IDC’s Ma.
Rebecca Assice, who runs Virtual Room in Singapore, said one challenge was getting people interested in the first place as many still did not know about the arcades.
“VR is still a really new industry,” she said. “A lot of people just don’t know this sort of activity exists.” — AFP

Bots emerge as key tool in customer service — poll

By Zsarlene B. Chua
Reporter
CALIFORNIA-BASED communications company, Avaya, revealed key Philippine trends in customer experience in 2018 which highlights the increasing importance of communication tools and technologies in digital transformation.
“Businesses in the Philippines understand the importance of good customer experience and the increasing role that communications solutions will play in delivering it,” said Ferdinand Macatangay, country manager of Avaya Philippines during a media briefing on April 17 at the Shangri-La at the Fort, Bonifacio Global City in Taguig.
The survey, done together with IDC Insights (a research and consulting firm), was conducted in March and polled 29 executives from several industries in Metro Manila including business process outsourcing (BPOs), financial and manufacturing.
A similar survey was done globally in the fourth quarter of 2017 which polled 356 executives from different industries.
The first trend observed during the survey is that globally, enterprises will have enhanced capabilities to understand customers in 2018 largely due to “all the new technologies that are emerging [including] the capability to integrate multiple identities into one platform or one database and that’s a worldwide trend,” said Michael Araneta, associate vice-president for financial insights, IDC Philippines, during the briefing.
A person, he said, typically has about 28 digital IDs and once all these digital identities become integrated in one platform it will “hasten the data collection process,” and enable companies to deploy customer insights to the frontlines, among others.
In the Philippines, survey results showed that it is exactly the lack of these databases are what companies consider as the greatest barrier when attempting to improve customer experiences (59%).
In comparison, global trends point to diverse customer base expectations as the greatest barrier.
But even if enterprises manage to offer an omnichannel service, Sami Ammous, managing director of Avaya ASEAN, pointed out in the same briefing that the “omnichannel journey, there is no destination, it’s always a journey.”
The second trend the company saw is that there will be “an upsurge in the frequency of communication and interactions” as the average rate per capita of data-driven interactions per day is expected to increase 20-fold from 2015-2020.
The perceived increase in interaction was spurred by the fact that according to the Philippine survey results, most of the respondents rate the enabling of customer-to-employee communication via different channels (e.g. inbound phone, websites, SMS/chat platforms) as the most important consideration during digital transformation.
To that end, Filipino enterprises place much importance in messaging (71%), chat applications (59%) and social media (42%) as the third trend pointed towards the emergence of new channel types to serve the “truly omnichannel customer.”
Filipino companies are also much more keen on investing in advanced automated technologies such as bots and scripts compared to global results which sees blockchains as having more importance.
“The Philippine will probably lead the world in terms of having best practices in how to blend bots and scripts and augmenting them with human capabilities,” said Mr. Araneta of the fourth trend.
Finally, Avaya sees the introduction of new key performance indicators (KPIs) which will support profitable customer relations, improve customer net promoter scores and increase customer interactions for non-profitable products.
In the Philippines, companies see customer satisfaction as the most important customer service KPI at 67% followed by issue resolution rates at 56%.

SEC flags 14 cryptocurrency investment companies

THE Securities and Exchange Commission (SEC) warned the investing public against 14 online investment scams, including entities riding on the growing popularity of Bitcoin and other cryptocurrencies to lure investors.
The country’s corporate regulator advised against investing in the following entities: NewG, Smart Capital, Gener8X, Paid2Prosper, CMT (Coins and Mining Trading), PSO (PSOPOWER Apps), TradeConnect, IronTrading (Team Bangon), ExpertTrading, OneCash, Lucky Coins, Miner’s Investment Group,
Digital Coin Trading, and All Pal for All Seasons.
The commission said the companies have been soliciting investments from the public through social networking site Facebook, promising returns of as high as 200% per month. The mentioned entities allegedly claim that funds from investors will be converted into cryptocurrency, thus justifying the investment’s earning capacity.
The SEC emphasized that none of the firms are registered with the commission, nor are they allowed to solicit investments from the public as they have no prior registration and/or license to engage in such activities.
As per the Securities Regulation Code, people who act as salesmen, brokers, dealers, or agents of the companies may be penalized with a maximum fine of P5 million or imprisonment of 21 years, or both.
Similarly, those found to be inviting the public to join such investment scams may also be held criminally liable or be sanctioned in accordance with the law.
Meanwhile, the SEC also cautioned against Internet-based Bitcoin and cryptocurrency Ponzi schemes, where entities usually offer investments in cryptocurrencies to yield high returns in a short period of time.
“This investment scheme ordinarily collapses as fast as they are created while leaving its investors behind and unable to recoup their investments,” the SEC said.
The commission said that such entities, as well as their investment offers, are not registered with the SEC.
“The public is hereby advised to exercise prudence before investing in these kinds of activities and to take the necessary precaution in dealing with these unregistered investment entities,” the SEC said. — Arra B. Francia

A taste of Philippine summer at China Blue


CELEBRITY CHEF Jereme Leung (by celebrity, we mean he was once recognized as one of the world’s best chefs by the American Academy of Hospitality Science) heads a lot of restaurants around the world, at select cities in China, aboard cruise ships, the tiny nation of the Maldives, and Manila. He visits each one of his locations twice a year, and this season, at the height of Manila’s summer, he presented to China Blue in Conrad Manila a menu called “Majestic Summer.”
The menu began with appetizers of braised beef and eggplant roll, barbecue chicken skewers in tamarind sauce, and wok-fried pork spare ribs in Batangas coffee sauce and pili nuts. China is in the restaurant’s name, and yet Mr. Leung, fascinated with the ingredients that the Philippines can offer, scouted out his favorites, and apparently, if they work, he plans to take a few things and serve these at his other locations.
The beef roll, meanwhile, was surprisingly light in flavor and texture, while the spare ribs jolted one awake from its crunch and the coffee sauce.
The soup was served next, poached scallops and dried fish lips in cherry tomato-kamias consomme. China Blue could possibly be a genius in soup. Despite the Filipino ingredients, it feels almost as if one has been transported to summer in old Shanghai while sipping the soup.
The main course were deep-fried fillets of lapu-lapu in sweet and sour mango and calamansi sauce, paired with poached moringa seafood wontons and crispy black rice-coated king prawns, all lying on a splash of pumpkin sauce. The sweet and sour fish tasted like a morning in summer: sweet and crisp, while the king prawns tasted indulgent.
Dessert meanwhile was a moringa and cucumber sorbet with chia seeds, and that was a great palate cleanser and a balm from the summer sun.
Said Mr. Leung on how the dishes still remain Chinese despite the not-so-light Filipino touch: “It’s important for every market — even China Blue now — part of the discipline to make it good is to understand what works for the customers.”
The set menu is available for P4,000 net per person. — J.L. Garcia

Market expects rate hike in May — DBS

By Melissa Luz T. Lopez, Senior Reporter
MARKET participants are pricing in a rate hike from the Bangko Sentral ng Pilipinas (BSP) next month, analysts at DBS Bank said, amid concerns that the uptick in inflation and a wider current account deficit have rendered tightening moves necessary.
“The Philippine markets are positioning for a rate hike at the next monetary policy meeting on May 10,” DBS Group Research said in a market commentary yesterday.
“The 10-year bond yield has also risen above 7% [on Tuesday]. More importantly, the 3-month Philippine interbank reference rate has been moving higher with CPI inflation since the start of the year.”
Yields on 10-year bonds stood at 7.2607% at the secondary market on early Wednesday, higher than the 7.1714% seen the previous day. However, the government was able to raise 10-year Treasury bonds at a lower average yield of 6.213% during Tuesday’s auction.
The BSP’s policy-setting Monetary Board will conduct its third rate-setting meeting on May 10. The board has kept its policy stance unchanged in nearly four years, with benchmark spreads ranging from 2.5-3.5% since procedural cuts were introduced in June 2016 for the interest rate corridor scheme.
The board kept rates steady during the March 22 meeting even as inflation maintained its ascent for a third straight month. Instead, policy makers cited robust domestic economic activity and limited concern over higher inflation as reasons for staying on hold.
Price increases of widely used goods accelerated to 4.3% in March under the 2012 base year, led by a surge in the prices of cigarettes and alcohol as well as rice, according to the Philippine Statistics Authority.
This is the fastest price pickup seen in at least five years which brought the three-month average to 3.8%, close to the high end of the BSP’s 2-4% target.
Market watchers are expecting policy tweaks from the BSP as they expect inflation to “top out around 5-6% in May-June from the tax reforms,” DBS strategists Philip Wee and Duncan Tan said.
The central bank expects monthly inflation to keep rising and peak between July and September.
The weakening trend of the peso is likewise aggravating the situation, the bank analysts added, pointing out the unit’s 4.3% depreciation so far this year. This follows two straight years of a weaker peso-dollar rate.
“With the country’s current account and fiscal balances both in deficits amidst mildly hawkish Fed hikes, the government may be looking to issue more bonds to retail investors ahead. As for the next central bank meeting on May 10, we see the overnight borrowing rate higher by 25bps to 3.25%,” DBS added.
The Federal Reserve hiked key rates by 25 basis points in March, with new chair Jerome H. Powell hinting at succeeding adjustments later this year.
BSP Deputy Governor Diwa C. Guinigundo said earlier this month that there remains no need to adjust interest rates: “While some market indications point to rising inflation expectations, nothing at this point suggests that the market expects persistent significant surge in consumer prices through 2019 that would warrant a change in the monetary policy stance.”
He added that the BSP does not have to match the Fed’s rate tweaks as they come, as current rates remain supportive of domestic liquidity and financial conditions.
BSP Governor Nestor A. Espenilla, Jr. said separately that the low interest rate environment is proving conducive to growth without triggering runaway inflation, thus leaving no need to adjust so far.
Mr. Espenilla, however, said the BSP stands ready to raise loan rates should price increases turn more broad-based. He added that the Philippine economy is robust enough “to absorb some policy tightening if warranted,” saying that the above-six percent growth remains sustainable.
As of its March 22 meeting, the Monetary Board expects inflation to average 3.9% this year, which would represent a sharp increase from the 2.9% rate tallied in 2017. Using the original 2006 base year, inflation will soar to 4.5% from 3.2% a year earlier.
BSP officials, however, find comfort in estimates showing that inflation will decelerate to a 3% average by 2019 — in line with expectations that the impact of tax reform on prices will be temporary.
Some analysts have called off their forecasts for rate hikes in 2018, citing the “reluctance” of key BSP officials to touch key rates anytime soon. Other observers, however, remain of the view that the central bank is already behind the curve at a time of steadily rising global yields.

Tech Round-up: New releases from Dell, Nokia , Oppo, Fitbit

DELL, Nokia, Oppo, and Fitbit introduced their latest offerings to the Philippine market this month. Here’s a round-up of their newest gadgets:
DELL PRODUCTIVITY LAPTOPS
Dell updated its Latitude series to feature the latest dual-core and quad-core 8th Gen Intel Core vPro 15W processors, which, based on Dell’s productivity benchmark tests, show dramatic performance uplift over products based on the previous generation processors.
One of the laptops launched was the Dell Latitude 7390 2-in-1 series, which now comes in thinner and lighter form. It features processor options of up to Intel 8th Gen processors and PCIe SSD for optimal performance.
NOKIA HANDSETS
HMD Global, maker of the latest generation of Nokia handsets, announced on April 13 its latest handsets, including the return of its iconic “banana phone,” the Nokia 8110.
The latest flagship smartphone under the Nokia brand is the Nokia 7 Plus (P21,990), which features 16 megapixel front-facing camera with ZEISS optics that can capture both front and back scenes in one frame or “bothie” shot as Nokia calls it.
The Nokia 7 Plus features a 5.5-inch HD display, Qualcomm Snapdragon 660 mobile processor, 3,800 mAh battery, among others.

Oppo F7
Oppo F7

NEW OPPO SELFIE PHONE
Chinese smartphone maker Oppo has been working hard to gain a foothold in the Philippine market as it introduced its latest smartphone.
The company, which brands itself these days as “selfie expert” will officially roll out today its latest device, the Oppo F7. At P17,990, the F7 features a 6.23-inch, full-HD display with a 19:9 aspect ratio.
The F7’s main feature is its 25-MP front camera, which Oppo claims to be powered by artificial intelligence (AI). What this means is that the camera, aside from built-in “Sensor HDR” technology, automatically applies facial image enhancers to make every selfie shot look flawless. The built-in AI is also programmed to remember one’s preferred selfie-editing preferences — bigger eyes and slimmer cheeks — over time.
Fitbit Versa
Fitbit Versa

FITBIT VERSA
Fitbit announced today the availability of its second smartwatch, the Fitbit Versa.
Powered by Fitbit OS 2.0, which will also be available to Fitbi Ionic, Versa is lighter and smaller than Ionic, and comes with a redesigned dashboard and improved health and fitness features. With the latest OS, Versa can also make quick replies for Android users. The watch also comes with female health tracking features for monitoring and even predict menstrual cycles and other health data.

DoE mulls Swiss challenge for Meralco supply deals with generation firms

ENERGY Secretary Alfonso G. Cusi has proposed subjecting the pending power supply agreements (PSA) between distribution utility Manila Electric Co. (Meralco) and power generation companies to a “Swiss challenge” to move the contracts forward ahead of the expected rise in electricity demand in the coming years.
“From my personal point of view, i-subject nalang ninyo sa (why don’t you just subject the contracts to a) Swiss challenge,” he told reporters in an informal gathering on Wednesday at the Philippine National Oil Co. compound in Bonifacio Global City.
Mr. Cusi said he wanted the PSAs to undergo a Swiss challenge considering that the contracting parties are confident the rates they forged for the supply of electricity are the lowest available to benefit consumers.
He said he talked to Meralco PowerGen Corp. (MGen) President and Chief Executive Officer Rogelio L. Singson about his proposal, who in turn pointed to how the Energy Regulatory Commission (ERC) will act on the PSA applications.
MGen, a subsidiary of Meralco, is among those that have committed to build power plants but could not proceed with signing an engineering, procurement and construction (EPC) contract ahead of the ERC’s approval of the PSAs. Lenders also require an ERC-approved PSA to ensure that the power plant developers will have a steady stream of revenues to repay their loans.
On these bilateral contracts, Mr. Cusi questioned why Meralco and the generation companies would ink a deal that does not involve consumers who will eventually end up paying for the electricity rates for 25 years.
“I’m not against Meralco… It’s just a good process,” he said, referring to Swiss challenge, a process that allows the original proponent to match the offer made by a challenger.
With his proposal, Mr. Cusi said he was looking at affordability and at the same time a tariff that is “fair to everybody.” However, he has not formally submitted his proposal to the DoE, since he is making sure it is legal.
In May 2016, Meralco announced that it had sought regulatory approval for seven PSAs, covering 3,551 megawatts (MW). The contracts were forged just before the April 30, 2016 deadline set by the ERC. After that date, companies are required to first undergo a competitive selection process (CSP) before forging a PSA.
The ERC promulgated CSP in November 2015 but had to restate its effective date until April 30, 2016 through a resolution in March 2016. It said the move was prompted by letter-inquiries from distribution utilities and generation companies assailing the legal implication of the CSP to existing power supply deals.
The ERC developed and promulgated the CSP as an additional safety net to promote consumer interest, even if this is not a mandatory requirement under Republic Act No. 9136 or the Electric Power Industry Reform Act (EPIRA) of 2001.
The Meralco PSAs were based on its long-term load projections as it expects a continuous increase in electricity demand and number of customers, coupled with the impending expiration of contracts from 2019 to 2020. — Victor V. Saulon

Iced tea for summer

TWG TEA has come out with an iced tea collection, plus accessories and sweets to match, just in time for the heat of summer. The TWG Tea Iced Teabag Collection (P1,500) comes in 15 varieties such as Eternal Summer Tea, Moroccan Mint Tea, Pink Flamingo Tea and Cocktail Hour Tea. The tea can be served in an Iced Tea Carafe (P6,000) made of a very light Plexiglas and available in eight colors. At the salon, cool off with a scoop of TWG Tea’s handmade Napoleon Tea-infused ice cream (P120), Singapore Breakfast Tea-infused ice cream (P120), or the Silver Moon Tea-infused sorbet (P130). Another summer treat is the Macaron Ice Cream Sandwich (P90 per piece), meringue shells infused with the taste of luxury tea blends and filled with Valrhona white or dark chocolate ice cream. Available for dine-in until May 31. The summer collection is available in all TWG Tea Salons & Boutiques.
ICED TEA À LA TWG
(Makes 1 liter of iced tea)
For a rich, intense and flavorful beverage:
• Place 1 teabag into a teapot.
• Add 1/2 liter of simmering water.
• Steep for about five minutes.
• Remove teabag and pour into glasses filled to the brim with large ice cubes.
For a more delicately infused beverage:
• Place 1 teabag into a glass pitcher.
• Add 1 liter of water at room temperature.
• Refrigerate for about 12 hours.
• Stir and remove the teabag before serving.
Enjoy both iced teas as it is or sweetened to taste with sugar syrup.

Asian currencies tread water; yuan down after RRR cut

MOST EMERGING Asian currencies were kept in check on Wednesday, as the dollar gained on firm US economic data and as US-China trade risks and tensions in the Middle East appeared to take a backseat for now.
The yuan pulled back after the People’s Bank of China (PBoC) surprised markets late on Tuesday by cutting reserve requirements, although the move fell short of a broad easing in monetary conditions.
The dollar index against a basket of six major currencies was a shade higher at 89.538 after gaining 0.1% overnight.
The index had stooped to 89.229, its lowest since March 27 before retreating on stronger-than-expected March US housing starts and steady industrial production figures.
The dollar took a small knock earlier in the week after US President Donald Trump criticized the currency policies of China and Russia, before finding relief after Treasury Secretary Steve Mnuchin clarified Mr. Trump’s comments on Tuesday.
“It’s very, very quiet today. Traders remain very cautious adding regional risk due to the overhang from the trade war,” said Stephen Innes, head of trading APAC at Oanda.
The rupee fell as much as 0.2% to its lowest level since September.
The Philippine peso also lost about 0.2% and was on track to mark its third consecutive session of declines.
The rupiah, ringgit, and yuan were all little changed.
The won tacked on 0.1% to a one-week high, while the Singapore dollar, the Taiwan dollar and the baht also crept up slightly.
“The won is up on the peace treaty and the high level political discussions this has triggered. This will ultimately be good for regional FX, but in the meantime traders remain extremely cautious adding regional rush dye to the overhang from trade wars,” said Mr. Innes.
South Korea said on Wednesday it is considering how to change a decades-old armistice with North Korea into a peace agreement, as US officials confirmed an unprecedented top-level meeting with the North Korean leader.
The yuan slipped against the dollar on Wednesday, after the central bank surprised markets by cutting the amount of reserves banks must keep on reserve, raising some concerns over the health of the economy.
The move late Tuesday by the People’s Bank of China came hours after data showed the world’s second-biggest economy grew at a slightly faster-than-expected pace of 6.8% in the first quarter, buoyed by strong consumer demand and robust property investment.
Traders said the sudden RRR cut weighed on the yuan in morning trade as the amount was larger than expected and had come earlier than most had predicted.
Oanda’s Mr. Innes also suspects the market is of the view that China’s GDP data “could be a high point of the year”, noting risks from the tariff row with the United States and Beijing’s extended deleveraging campaign.
“In other words Q2 GDP could be worse than expected.”
Indeed, analysts are still predicting China’s economic growth will slow to 6.5% this year, with the ongoing regulatory crackdown and US trade dispute seen as key risks, a Reuters poll showed. — Reuters

Google urges small businesses to invest in online presence to help boost profit

GOOGLE, is encouraging businesses of all sizes across all industries to shift towards digital and create mobile-optimized websites in order to leverage and “reach an audience of billions worldwide.”
“Every business should be an online business. Every business needs to be online and digital,” Kevin O’Kane, managing director for Google Marketing Solutions of Google Asia Pacific (APAC) said during a press event in Google’s Singapore headquarters on April 12.
With 98% of businesses in the region considered small and medium businesses (SMBs) according to a 2014 data from the Asian Development Bank, Mr. O’Kane said that “to keep growing, SMBs need to meet consumers where they spend an increasing amount of their time, online.”
“Online, on mobile, your ‘local’ market is as big as you want it to be. It’s as big as the number of people looking for you or the products and services you provide,” he added.
And mobile is driving this online trend with the Philippines having a projected 68% mobile phone penetration in 2018 according to statistics portal, statista.com while Indonesia saw a jump in percentage of people owning a smartphone from 14% in 2013 to 60% in 2017, according to Mr. O’Kane.
Conversely, he told the press during a discussion after the event that less than 5% of businesses in less developed countries are online.
The ubiquity of mobile phones then, he explained, makes it imperative for businesses to be online as the next generation will be “mobile-only internet users” which will make the Web “become more local.”
“People are turning to their mobiles to find nearby solutions, benefitting millions of local businesses,” he said.
While going digital is the way to go, Mr. O’Kane acknowledged that the move does intimidate many small businesses — many of whom may be multi-generational and has existed for many years–as they think it might expensive to do so.
But Google, he said, provides a free and easy way to create an online presence via Google My Business a tool which puts businesses on Google Search and on Maps which they can then customize with text, photos and design themes.
Google also offers other free services including Market Finder and Google Trends which help SMBs gauge interest for their products; Google Analytics which helps businesses to understand how their site or app is performing and which activities contribute to sales or visits; YouTube, which can be used to find and engage new customers; and Test My Site which tests mobile website speed and help them improve their website performance.
To give credence to his assertions, Mr. O’Kane mentioned several businesses like Hai Sia Seafood —a family-owned seafood distributor in Singapore that used YouTube ads to triple their sales and led them to introduce a new product: tours in their factory which now has to be booked six months in advance due to its popularity—and Ishikawa Brewery, a 150-year old sake and beer-making business in Japan which used Google My Business to reach new customers.
“[The aforementioned services] are free and is better for their customers and business…The internet erases problems of geography and reach. It lowers costs,” said Mr. O’Kane.
Ads help
The simple act of having presence in the digital world is something that will help businesses grow manifold, according to Google executives, as it opens opportunities to reach new customers and expand their businesses.
Google might offer free services to jumpstart the move but those who want to kick it up a notch, Google encourages businesses to place on one or several of the company’s products including Search, YouTube and on the Play Store.

Melanie Silva, director of sales and product operations & strategy for Google APAC

But it needn’t be expensive as Melanie Silva, told the press in a separate roundtable on April 12 that businesses can invest on ads for as low as $1 a day.
During a presentation, Ms. Silva used The Lorry, a moving company in Malaysia, as an example as the company invested $2-$4 a day on AdWords (Google’s advertising system) and saw that it generated more bookings and introduce their business to a new generation of clientele.
“[Advertising] doesn’t need to be expensive…it depends on what business results you want to achieve,” she explained before adding that in a sense, it’s all about trial and error as businesses need to find what works for them.
Google offers a range of advertising options from the most simple — Search ads which are shown only when consumers want them and advertisers are charged only when ads are clicked on — to targeted ads like AdSense where Google matches ads to the site’s content or page and to more comprehensive ones like AdMob which are used to promote mobile applications across Google Play, Search, YouTube and “on the more than three million sites and apps in the Google Display Network.”
“Before you spend any money to advertisers, fix your website first,” Mr. O’Kane advised as advertising without having a fully-equipped website, is akin to wasting advertising money. — Zsarlene B. Chua

1...12,70412,70512,706...14,215Page 12,705 of 14,215
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin X Youtube