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Salesforce to buy Informatica for $8 billion to bolster AI data tools

SALESFORCE said on Tuesday it would buy Informatica for about $8 billion, betting on the data management platform to sharpen its competitive edge in the booming artificial intelligence (AI) market.

The cloud-software giant is returning to big-ticket M&A after years on the sidelines, driven by scrutiny from activist investors pressing for better profitability.

Last year it shelved deal talks with Informatica after the companies failed to agree on deal terms.

The negotiations picked up steam again in early April, when a handful of potential buyers, including private equity firms and other companies, approached Informatica around the same time, according to a person familiar with the sale process.

Thoma Bravo and Cloud Software Group were part of the five interested buyers of the asset, that person and another person familiar with the process said. Thoma Bravo declined to comment, while Cloud Software Group was not immediately available to comment.

Buying Informatica, in its biggest deal since its nearly $28-billion acquisition of Slack Technologies in 2021, would help Salesforce expand its data management tools as it doubles down on AI-powered products. The deal would also allow Salesforce to tighten control over how business data is managed and used, an essential step as it races to embed generative AI deeper into its products.

“Salesforce and Informatica will create the most complete, agent-ready data platform in the industry,” said Salesforce Chief Executive Officer Marc Benioff, adding the deal will strengthen its position in the $150 billion-plus data enterprise market.

The company has been offering AI agents — programs that can handle routine work without human supervision — to businesses for recruiting and customer service. It has closed more than 1,000 paid deals for “Agentforce,” its platform for creating AI-powered virtual representatives.

Salesforce is paying $25 for each share of Informatica, a premium of about 30% to Informatica’s closing price on May 22, the day before news of renewed talks emerged.

Informatica shares were up 5.8% in afternoon trading at $23.86, while Salesforce was up 1.78%.

Salesforce expects to close the deal early next fiscal year starting February through a mix of cash and new debt. The deal is expected to boost its operating margin from the second year after closing.

Scotiabank analysts said the move could help Salesforce catch-up with software rivals as “data management software is now most often sold as part of mega-vendor tool kits.”

The business software company has been a prolific dealmaker, buying data analytics firm Tableau Software in 2019 for $15.7 billion in stock, and Slack in 2021 in its biggest deal.

Those deals drew scrutiny in 2023 when activist investors, including ValueAct Capital and Elliott Management, pressed for changes to improve profitability. Reuters

Philippine insurance premiums to grow to €21.4 billion by 2035

MACROVECTOR/FREEPIK

THE PHILIPPINE insurance market is expected to grow to €21.4 billion by over the next decade amid growing demand for protection, Allianz Research said in a report.

Insurance premiums in the country are expected to post a compounded annual growth rate (CAGR) of 9.2% until 2035, according to the Allianz Global Insurance Report 2025 released on Tuesday.

This is from the €8.1 billion in premium income posted in 2024, which went up by 12.4% year on year, driven by the recovery of the life insurance sector.

The expected CAGR for Philippine insurance premiums until 2035 is higher than the 5.3% growth seen for the global insurance market (to €12.33 trillion from €7.008 trillion in 2024).

“Insurance remains a growth industry,” said Ludovic Subran, chief economist at Allianz SE. “However, this growth is largely fueled by policy inaction: underinvestment in adaptation is leading to increasing climate damage, while delayed pension reforms are requiring higher savings efforts from individuals. In the long term, however, the private insurance industry cannot shoulder the burden of acting as society’s ‘repair shop.’ Only by working together will we be able to meet the major challenges of the ‘twin transformation.’”

Broken down, Allianz Research said the property and casualty (P&C) segment is expected to post annual growth of 8.3% until 2035 to €5.2 billion from €2.2 billion in 2024, faster than the 4.5% global forecast.

“The segment will show solid growth rates in almost all markets, as the increasing need for protection is a global phenomenon,” it said.

It added that the Philippine life insurance premiums are expected to expand by 9.5% annually over the next 10 years to €15.1 billion from €5.6 billion in 2024, also outpacing its 5% projection for the global market.

“Allianz Research also remains confident about life insurance, which can expect annual growth of 5% thanks to higher interest rates,” it said.

“Asia and China will remain the growth engines for the global life business, as pension systems continue to be developed against the backdrop of accelerating demographic change.”

It also expects the health insurance segment to be the “most dynamic” amid pent-up demand, with premiums in the Philippines seen to expand by 9.7% annually until 2035 versus the 6.7% growth seen for the global market.

“Asia in particular still has a lot of catching up to do,” Allianz Research said.

It noted that demand for health insurance remained strong in Asia last year as the segment grew by 12.6% in the region.

“This reflects the still low insurance penetration (premiums in percent of economic output) in the region, which is below 1% in all markets except Taiwan. Even more than in life insurance, demand is driven by the state of the social security system, i.e. the level and quality of public healthcare,” it added.

Allianz Research said the global insurance industry’s premium growth will be driven by the life insurance sector, with more than half of the additional premiums coming from Asia excluding Japan.

Meanwhile, 40% of the expected additional premiums over the next 10 years for the global P&C insurance market will come from North America, it said. Health insurance growth will also be driven by the US market.

“Geopolitical uncertainties and trade tensions may weigh on insurance volumes through weaker economic growth, trade slowing down and higher credit and market risks. On the other hand, a protection effect could also be visible as companies demand more risk management solutions in this uncertain and crisis-ridden environment,” Allianz Research said.

“In the longer term, financial fragmentation and weakening international cooperation including on climate, cyber or pandemic preparedness could increase the cost of insuring these risks.”

Allianz Research expects the global economy to grow by just 2.3% this year as the US’ changing trade policies continue to drive uncertainty.

“At the heart of the fragmenting world is a global leadership deficit as the US seeks to free itself from international rules — and is thus no longer willing to act as a disciplining force. The consequences are new and growing power vacuums, emboldened rogue actors and an increased likelihood of accidents, miscalculations and conflict,” it said.

“At the same time, the global economy is undergoing significant changes that are challenging old economic models and exposing their unsustainability, while viable alternatives are still emerging, leading to growing divergence and fundamental uncertainty. This is fueling increased political polarization and democratic erosion… The risks to the 2025 outlook are clearly on the downside.”

It said that while ongoing trade shifts have no direct impact on the insurance industry, its effect on financial markets and asset prices could pressure firms’ balance sheets and affect the performance of related products like unit-linked insurance. The high level of uncertainty could also affect companies’ investment decisions.

“On the liability side, the impact of trade wars is not as direct and immediate, but second-round effects pose challenges. Weaker economic growth, less trade and higher credit risks all weigh on the insurance business,” Allianz Research said.

Insurers should be ready to respond to changing customer needs and manage potential risks, it added. — AMCS

Rockwell Land sees 70% rise in Q1 reservation sales to P8.2B

ROCKWELL LAND CORP.

LOPEZ FAMILY-LED real estate developer Rockwell Land Corp. said it saw a 70% year-on-year increase in first-quarter (Q1) reservation sales to P8.2 billion.

Of this amount, P3.5 billion came from new horizontal projects, Rockwell Land President and Chief Operating Officer Valerie Jane L. Soliven said during the company’s virtual annual stockholders’ meeting on Wednesday.

The company reported strong take-up of The Samanean at Paradise Farms in Bulacan and Molinillo at Rockwell Center Lipa following their launch in December 2024.

The first phase of Lauan Ridges by Rockwell in Mataasnakahoy and Lipa, Batangas, is currently more than 50% sold after its February launch, the company said.

The Edades West high-end condominium development in Rockwell Center Makati contributed 20% to total Q1 reservation sales, it noted.

Regarding project launches, Ms. Soliven said Rockwell Land will open a full-service hotel at its Aruga Resort and Residences – Mactan in Cebu by the third quarter.

The developer is also acquiring a 7,500-square-meter property adjacent to its IPI Center Done Rockwell mixed-use development in Cebu City as part of its expansion efforts.

“Raising the bar and setting standards have always been our guiding principles. These values have kept us on course, even in uncertain market conditions,” Rockwell Land Chairman and Chief Executive Officer Nestor J. Padilla said.

“This is how we will approach our next 30 years — relentlessly striving for excellence and innovating beyond the ordinary — alongside those who shape our brand’s success: our people and loyal customers,” he added.

Meanwhile, Rockwell Land Executive Vice-President Davy T. Tan said during the meeting that the company has over 500 hectares of landbank to support the expansion of its residential, retail, and office portfolio.

On the residential condominium oversupply in Metro Manila, Ms. Soliven said Rockwell Land is not affected, as the company’s portfolio focuses on the high-end segment.

“The reported oversupply is primarily concentrated in the mid-market. Our portfolio has always been driven by high-end projects,” she said.

For Q1, Rockwell Land recorded a 5% increase in attributable net income to P773 million from P734 million last year.

January-to-March total revenue climbed 15% to P4.45 billion from P3.88 billion last year.

Real estate sales rose 26% to P3.1 billion, driven by higher bookings and revenue recognition from various projects. Lease income improved by 9% to P642 million on higher average retail and office rental rates.

Rockwell Land shares rose 2.13%, or four centavos, to close at P1.92 per share on Wednesday. — Revin Mikhael D. Ochave

OPM folk legend Freddie Aguilar, 72

FREDDIE AGUILAR — BW FILE PHOTO

INTERNATIONALLY renowned Filipino folk singer-songwriter Ferdinand “Freddie” Aguilar passed away on May 27, at the age of 72.

His death was confirmed by George Briones, the general counsel of Partido Federal ng Pilipinas, where Mr. Aguilar had previously served as national executive vice-president.

Quoting his former partner and mother of his children Josephine Quiepo, TV host Boy Abunda, speaking in his show Fast Talk with Boy Abunda announced that the cause of death was multiple organ failure at the Philippine Heart Center.

Ayon kay Josie, binawian ng buhay kagabi si Ka Freddie sa Philippine Heart Center dahil sa multiple organ failure (according to Josie, Ka Freddie died last night at the Philippine Heart Center due to multiple organ failure),” said Mr. Abunda on the May 27 episode.

His wife, Josie Gatdula Albao, posted on Facebook: “This is not goodbye, just farewell for now… It was a good fight, because we are fighting together.”

Born on Feb. 5, 1953, the Pinoy folk music icon started writing songs as a teenager, eventually finding fame in the 1970s. The song “Anak,” released in 1978, was his breakout hit not just in the Philippines but internationally. It sold over 33 million copies globally and was translated into 51 languages.

His rendition of the patriotic anthem “Bayan Ko” was used as a song of resistance in the period leading up to the 1986 People Power Revolution. His other hits include “Ipaglalaban Ko,” “Magdalena,” and “Bulag, Pipi, at Bingi.”

Mr. Aguilar was a supporter of Rodrigo Duterte during the 2016 national elections and was subsequently appointed by him as a presidential adviser on culture and the arts. In 2019, the former president endorsed him as a senatorial candidate, though he was ultimately unsuccessful.

Mr. Aguilar had four children with Josephine Quiepo: Maegan, Jonan, Isabella, and Jeriko. After converting to Islam in 2013, during which time he took on the Muslim name Abdul Farid, he married his current wife, Jovi Albao, who was 16 at the time.

Mr. Aguilar was buried at the Manila Islamic South Cemetery on the day he died, in keeping with Islamic tradition. — Brontë H. Lacsamana

Nuclear energy and new DoE leadership

Among the important achievements of outgoing Department of Energy (DoE) Secretary Raphael PM Lotilla is building a strong legal and regulatory framework for nuclear energy, including pushing for the creation of the Philippine Atomic Energy Regulatory Authority (PhilATOM), plus submitting the necessary requirements for the ratification of existing nuclear energy-related agreements. Good job, Sir, although the Senate is slow to act on the PhilATOM bill.

The DoE also recently launched a series of Nuclear Energy Awareness Training (NEAT) seminars. The last one was held last week, May 20-22, at the Park Inn by Radisson in Quezon City, organized by the Nuclear Energy Program Inter-Agency Committee (NEP-IAC). The next NEAT is “Philippine Nuclear Energy 101: Powering the Future” on June 9-11 in Makati City.

Nuclear energy remains popular among many countries in the world. The state of nuclear reactor builds are defined as follows: “Operable” are those connected to the grid already, “Under Construction” have first concrete already poured and keel layed for floating plants, “Planned” have approvals and funding or commitment in place and are mostly expected to be in operation within the next 15 years, and “Proposed” are specific programs or site proposals but timing is uncertain.

Since this column came out with a list of nuclear reactors worldwide1, several changes that have happened in just two months, like some “Proposed” reactors that became “Planned” and some “Planned” that became “Under Construction.” So I am updating the table, but for the purpose of brevity I will not include countries with a smaller number of reactors.

The US and France remain the nuclear powerhouses, but China will soon catch up then overtake them since it has a huge number of reactors under construction and planned. Russia and Ukraine are also ramping up (see the table).

Five other Asian countries are going nuclear. They are Bangladesh, which has two reactors which can generate 2,400 megawatts (MW) under construction with plus two proposed reactors that can generate 2,400 MW; Saudi Arabia, which has two proposed 2,800-MW reactors; Vietnam, which has four 1,000-MW reactors; Indonesia, which has two 500-MW reactors; and the Philippines, which plans to have 1,200 MW generated by nuclear power by 2032.

Two countries no longer have nuclear power. Taiwan used to have six reactors with a 5,058 MW capacity and those have all been shut down, with the last reactor closed just this month. Germany used to have 36 reactors with a capacity of 26,411 MW, and all have been shut down. The last three, with a combined capacity of 4,055 MW, were closed in April 2023.

In an “Inquirer Campus Talks” held at the UP Diliman College of Engineering on May 9, engineer Suiee Suarez, Vice-President for Corporate Affairs of Aboitiz Power, made some interesting points in his talk, “Engineering a Greener Grid: Integrating Innovation and Sustainability in Energy Infrastructure.”

Among the things he said were the need to “integrate nuclear power and more LNG (liquefied natural gas) to our supply… exercise pragmatism with ‘first-of-a-kind’ technologies like small modular nuclear reactors… A hybrid or diversified system will mitigate the disadvantages inherent in each source and technology, while still delivering the result we want: reliable electricity.”

It is a good thing that Mr. Suarez included nuclear power as part of a green and hybrid energy system. Many people dismiss even natural gas in grid expansion because it is also a fossil fuel. Nuclear power would be more acceptable to them.

Since President Ferdinand Marcos, Jr. has appointed Mr. Lotilla as the new Environment Secretary during the current cabinet reshuffle, I can think of two prominent individuals who could possibly succeed him in the DoE. They are DoE Undersecretary Sharon Garin, who is now the OIC Secretary, and Emmanuel Rubio, retired President of Aboitiz Power and now President of Meralco Power Gen (MGEN).

Ms. Garin was part of the Philippine Nuclear Trade Mission to Canada that I went on in March 2024, organized by the Canadian Embassy in Manila, along with Science Undersecretary Leah Buendia, Energy Regulatory Commission Chair Monalisa Dimalanta, among others. Ms. Garin has gained more exposure on the subject as she recently returned to Canada to study its nuclear industry with another set of Philippine participants.

Mr. Rubio is an experienced builder and/or manager of big power plants, from thermal (coal, oil, gas, geothermal) to renewables (hydro, solar), as well as having experience in their linkage to power distribution.

As I wrote last week2, the Philippines has among the lowest levels of power generation per capita in Asia. In 2023, ours was only 1,054 kilowatt-hour (kWh) per person while Indonesia’s was 1,264 kWh, Vietnam’s was 2,756 kWh, Malaysia’ was 5,674 kWh, China’s was 6,700 kWh, Japan’s was 8,132 kWh, South Korea’s was 11,975 kWh, and Taiwan’s was 12,109 kWh per person. Pitiful. We need to significantly improve on this.

In addition, Meralco has advanced and proactive preparations for the Philippines going nuclear and Mr. Rubio is part of it. Meralco has two big initiatives — the Nuclear Energy Strategic Transition (NEST) and the Filipino Scholars and Interns on Nuclear Engineering (FISSION) programs.

Mr. Rubio’s appointment would have one legal hurdle: the DoE law of 1992 (RA 7638), Section 8 prohibits any officer of any private energy company from being appointed as DoE Secretary within two years of separation or retirement. It is an old law, 33 years old or older than EPIRA of 2001 (RA 9136).

Nonetheless, we need a DoE Secretary with deep knowledge and wisdom in expanding power generation, transmission, and distribution, and a deep appreciation of the role of nuclear energy in our economy.

1“Philippine nuclear energy, soon please,” March 11

2“Raising generation kWh per capita, not renewables” (May 20)

 

Bienvenido S. Oplas, Jr. is the president of Bienvenido S. Oplas, Jr. Research Consultancy Services, and Minimal Government Thinkers. He is an international fellow of the Tholos Foundation.

minimalgovernment@gmail.com

GCash offers free health, accident insurance with load purchases

ELECTRONIC WALLET giant GCash is now offering free health insurance underwritten by nonlife company FPG Insurance Co., Inc. with every eligible purchase of prepaid load via its app.

“Beyond just financial assistance, this benefit ensures that users have funds to cover medical costs or compensate for lost income during recovery, helping prevent families from falling deeper into debt and alleviating financial struggles,” G-Xchange, Inc. President and Chief Executive Officer Oscar Enrico A. Reyes, Jr. said in a statement on Wednesday.

G-Xchange is the mobile wallet operator of GCash.

“This initiative, powered by GInsure in partnership with FPG Insurance, reflects the commitment of GCash to making financial protection accessible to every Filipino, ensuring that even the simplest transactions, like buying prepaid load, come with the added security of health coverage at no extra cost,” GCash Vice-President and New Business Group Head Winsley Bangit said.

Eligible users can avail of free health and accident coverage of up to P30,000 and additional benefits with every Buy Load transaction on the GCash app.

Users can automatically get P10,000 in accidental death coverage for every load purchase. This can be accumulated up to a maximum of P30,000 via three separate eligible load purchases.

They can also get income assistance of P500 daily for a maximum of five days if they are hospitalized due to illnesses and accidents, as well as a disablement benefit of up to P10,000.

“With millions of Buy Load users on the app primarily receiving mobile load, GCash sees an opportunity to protect more Filipinos, offering a valuable incentive beyond telecommunications,” GCash said.

“With millions of Filipinos still hesitant to fully embrace digital transactions, they still rely on traditional offline methods. Now, with free health insurance seamlessly integrated into prepaid load transactions, users can enjoy more benefits when they go digital, making each purchase not just more convenient but also rewarding.” — A.M.C. Sy

Globe eyes modest growth in subscribers, revenues

BW FILE PHOTO

GLOBE TELECOM, Inc. is aiming for single-digit growth in prepaid subscribers and revenues this year, citing increasing mobile data usage among Filipinos, a company official said.

“We have around 60 million prepaid customers,” Globe Head of Consumer Mobile Business Eric Leif Tanbauco said during the Globe of Good Media Launch on Wednesday.

“The goal is to continuously grow our customer base. This year, we’re aiming for single-digit growth in our customer base.”

To achieve this, the Ayala-led telco will focus on expanding network accessibility and enhancing the mobile experience.

“We will continuously expand our network to provide the best experience for our customers,” Mr. Tanbauco said.

“Secondly, we aim to make Globe affordable and accessible to all Filipinos while pushing for differentiating innovation.”

He highlighted the launch of GoGIVE, a GlobeOne app feature that converts users’ mobile data usage into donations to partner organizations and advocacies.

Globe is also targeting single-digit revenue growth this year, Mr. Tanbauco added.

In 2024, Globe reported combined revenues of P165.02 billion, up 2% from P162.33 billion in 2023. Mobile revenues increased 4% to P116.71 billion, with about 87% of total revenues generated from mobile data, Mr. Tanbauco said.

To support revenue growth, Globe plans to ensure customer access to new content and applications amid the rise of artificial intelligence (AI) and Web 3.0 technologies.

“Our customers are very habituated to Facebook, TikTok, Mobile Legends, so the rise of new content and apps will help drive and stimulate usage,” he said.

“We are looking at AI and Web 3.0 to sustain growth in customer usage.”

Globe also unveiled its Globe of Good brand, consolidating its sustainability and corporate social responsibility programs, including GoGIVE and the Gastronome Giving Series.

For the latter, Globe partners with Fine Dining Club Philippines to offer curated meals for select Globe Platinum clients while supporting the Hapag Movement against hunger.

On Wednesday, shares in Globe rose by 0.28% or P5 to close at P1,785 apiece. — Beatriz Marie D. Cruz

Alibaba Cloud, Mapúa University team up to offer AI training

ALIBABA Cloud, the digital technology and intelligence arm of the Alibaba Group, has partnered with Mapúa University to provide artificial intelligence (AI) training for its students amid the growing need to upskill in an AI-driven market.

“Through this collaboration, we aim to bridge the gap between academia and industry, equipping students with the skills and certifications needed to excel in the rapidly evolving digital landscape,” Allen Guo, general manager for the Philippines at Alibaba Cloud Intelligence, said in a statement.

Through the Alibaba Cloud Academic Empowerment Program (AAEP), Mapúa students and faculty will be given access to AI and cloud computing courses, resources, laboratory experiences, and pathways to Alibaba Cloud certifications.

The AAEP offers various learning resources such as public lectures, training programs, webinars, and hands-on sessions for varied skill levels. Students can learn about foundational and advanced topics on cloud computing and AI, as well as Alibaba Cloud’s AI infrastructure and solutions.

“As a university with a century-long legacy of excellence in engineering and technology — and the first in the Philippines to offer AI engineering at the undergraduate level — Mapúa is firmly committed to preparing our students to lead in the age of AI,” Mapúa University President and Chief Executive Officer Dodjie S. Maestrecampo said.

“Our partnership with Alibaba Cloud allows us to integrate world-class AI and cloud computing technologies into our learning ecosystem, ensuring that our graduates are not only ready for today’s industry needs but are also equipped to drive innovation in an AI-powered world.”

Around 70% of Philippine executives said they prefer to recruit individuals with AI expertise, according to a 2024 study by Microsoft and LinkedIn.

The Alibaba Cloud Academy, which serves as the company’s training and certification division, offers some 250 online and offline certification courses and over 270 online hands-on labs in 19 languages.

To date, it has trained over 500,000 individuals globally, with strategic partnerships across 110 universities and educational organizations in over 23 countries and regions. — Beatriz Marie D. Cruz

Dining In/Out (05/29/25)


DTI holds food festival at Megamall

THE Department of Trade and Industry (DTI) presents Food Festival 2025 — a three-day showcase celebrating the richness of Filipino gastronomy and the innovative spirit of local food micro, small, and medium enterprises (MSMEs). It will be held be held from May 30 to June 1 at Megatrade Halls 1–3, SM Megamall. There will be over 250 exhibitors from across the country, blending culinary tradition with technology and innovation. The food fest will showcase heritage-inspired food products from Luzon, Visayas, and Mindanao through curated exhibits, live cooking demonstrations, and the featured Kayumanggi Philippine heritage recipe book. It also celebrates Iloilo City’s designation as a UNESCO Creative City for Gastronomy. The DTI food fest also marks the launch of the DTI Malikhaing Pinoy Website, a technological space for the DTI B2B Marketplace online platform designed to connect Filipino MSMEs with a wider market.


Hotel Okura holds Thai food fest

HOTEL OKURA MANILA at Newport World Resorts will hold its first Thai Food Festival at Yawaragi. The event features a Thai buffet by guest chef Phuvadol Chanasenee, the executive sous chef of The Okura Prestige Bangkok. Explore a selection of Thai dishes prepared using traditional techniques and seasonal ingredients sourced from Thailand: think scallop and herbal salad (Pla Hoi Shell), aromatic chicken coconut soup (Tom Kha Gai), and deep-fried seabass in three flavored sauces (Pla Sam Rod), and more. Yawaragi’s signature Japanese offerings will also be available. The Thai Food Festival will be held from May 30 to June 1, with lunch service from noon to 3 p.m. and dinner from 6 to 10 p.m. at Yawaragi Restaurant, 5th floor, Hotel Okura Manila. Rates are P3,850++ for adults and P1,925++ for children aged six to 12. Children five and below dine for free. For reservations or inquiries, contact 0917-842-9067 or e-mail yawaragi.service@hotelokuramanila.com.


The Whisky Library holds masterclass

IT WILL BE an evening of fine whisky, notable cigars, and elevated gastronomy with The Dalmore masterclass at The Whisky Library at Newport World Resorts. The focus will be on Highland single malt Scotch whisky through The Dalmore Collection: Sherry Cask Select 12 Years, Cigar Malt Reserve, and Port Wood Reserve. Resident Whisky Expert for Asia Dean Rosen and WSET Level 3 Certified Sommelier Damien Planchenault complement these whiskies with exceptional cigars and curated dishes. The evening’s dining selection includes Beef carpaccio, Jamon queso de bola, Sous vide US Sirloin Finisher, and chocolate pralines infused with the Dalmore Portwood. It will be held on May 30 from 7 to 9 p.m. The experience is priced at P5,000 net. For reservations, visit https://tickets.newportworldresorts.com/products/whisky-and-cigar-pairing-masterclass.


Café Summit reimagines Filipino cuisine

CAFÉ SUMMIT, the all-day dining brand of Robinsons Hotels and Resorts, presents a flavorful journey of heritage, innovation, and stories through Reimagined Filipino Cuisine, a two-month showcase of creative dishes from six of its chefs. From Monday to Saturday, a featured chef’s signature dish will be served at all six Café Summit branches nationwide. Guests can taste the Crispy Lechon Kinunot of Maurito “Mau” Dominguez, head chef of Café Summit Galleria Cebu, on Mondays; Café Summit Naga head chef Francis “Kiko” Joseph Tugnao’s Maya-maya, Kahel, at Lukban on Tuesdays; Café Summit Tacloban sous chef Ricky Norcio’s Chicken Hinatukan on Wednesdays; Café Summit Greenhills executive chef Arvin Ace Barsaga’s Braised Shortribs Kinamatisan Ravioli on Thursdays; Café Summit General Santos head chef Remie Malicy’s Beef Bulalo Riyandang on Fridays; Café Summit Tagaytay head chef Ernie Baculio Ernie’s Crispy Handrolled Palabok on Saturdays; and all the specialty dishes on Sundays. Reimagined Philippine Cuisine at Café Summit will be served starting June 9 until Aug. 10. For more information about Café Summit and its upcoming promos, visit https://summithotels.ph/.


Shakey’s brings back creamy spinach pizza

SHAKEY’S has relaunched its Creammmy Spinach Pizza, with a heartier layer of real spinach and a blend of ultra-creamy, melty cheeses, spread across a hand-tossed or thin crust. Shakey’s also has new variants: Spinach & Glazed Bacon, Spinach & Shrimp, and Spinach & Mushroom. Shakey’s new and improved Creammmy Spinach pizza is available in all Shakey’s stores nationwide via dine-in, take-out, and delivery. Guests can also opt to order via the Shakey’s Super App for deals and promos.


Nissin Cup Noodles releases new flavors

FOR an authentic Asian noodle soup experience, Nissin’s Spicy Korean Style Stew has spicy Korean flavors. For a cheesy choice, the Nissin Pasta Express Cheesy Ham & Bacon is made with Nissin’s Straight Noodle Technology. This gives an authentic pasta experience in just four minutes. The cheesy sauce combined with the meaty ham and bacon bits gives a filling bite. The new variants are available at supermarkets and via leading online shops.

Tyranny of choice

FREEPIK

BEHAVIORAL economists define the concept of “tyranny of choice.” Offering too many options to the consumer causes a mental block. Is there a way to unclog the mind and simplify the decision-making process?

In the latest model of a mobile phone, the capabilities of the gadget are given free rein. Add to this the app store offering even more choices. The user can be overwhelmed by the decisions he must make. Why not offer him a default option? This route requires no selection process and allows the user to simply go for the default setting — just one decision. This is expected to cover most of his requirements.

Rather than expecting the consumer to wade through multiple decisions and options, a small set of features are bundled together as a default option that gives convenience to the consumer.

The default approach has given rise to the “combo meals” offered by fast-food restaurants. The few combinations are numbered, laid out, and accompanied with pictures. This moves the line of customers faster, having only to choose among a few default packages rather than meditating on the infinite combinations of chicken thighs, drinks, noodles, soups, sauces, snacks, desserts, and sandwiches. The Japanese bento boxes serve the same default options, with a little of everything.

Another default approach involves offering only the features that 75% of users rely on and bringing down the price of the gadget — not an acceptable strategy for the profit-maximizing producer. (What are your bestsellers?)

Even online cash transfers and digital banking procedures periodically offer new and enhanced versions, of course with more choices. This often requires the user to migrate his banking app and learn a whole new process again with even more features. (Please change your password.) This move is accompanied by a warning that the present app will cease to function in one week. FOMO sets in and causes a quiet panic.

Offering default options indicate that not all the bells and whistles in an upgraded new model are necessary for the regular customer. Still, the price of the upgraded model is sure to be higher.

Choices are also encountered in corporate management. When the company is in the red, the choices for remedies and next steps are many. Usually, the default option is cost-cutting. This requires less imagination than redefining the mission statement or shifting the revenue stream to other businesses.

The first step always involves the expense side. When downsizing, companies identify the core skills needed to run the business and anything outside that definition is deemed dispensable. Thus, early retirement descends like a plague on people with unused or unusable skills. After all, if there are no fires, are fire extinguishers still needed?

Job descriptions are the default options. One can ignore the last item in this list — “And any other jobs that may be assigned from time to time.” The skills needed to cover routine tasks like taking charge of a unit, meeting budget targets, and showing up at the office, instead of always working from home.

Not factored into this default job description are such attributes as a sense of perspective, loyalty to the company, strategic thinking, the ability to build consensus, or the willingness to go the extra mile in crunch time.

Another version of the default option is the establishment of a routine. Why keep thinking of where to have lunch each time? Why not pick a place to go to every time and order the same thing without looking at the menu. (Sir, onion soup for you again today?)

Default options free us from having to confront the tyranny of choice. This simplified approach can also apply to personal relationships. The approach to handling disagreements and fault-finding are established. Why be stressed? Just listen to the music in your head — Tom Jones belting out “Delilah.”

A default mode of changing the topic when painful subjects like financial support of relatives or unexplained text messages should kick in. The conversation can switch to the default subjects of traffic, the constitutional amendment on political dynasties, and the state of the marital relationships of friends and distant relatives. Oops, that last one can open a can of worms… with the choices they offer.

 

Tony Samson is chairman and CEO of TOUCH xda

ar.samson@yahoo.com

Fed’s Williams calls for strong policy response if inflation deviates from target

REUTERS

TOKYO — New York Federal Reserve President John Williams said on Wednesday central banks must “respond relatively strongly” when inflation begins to deviate from their target.

Given high uncertainty around the economic impact of US tariffs and trade policy, central banks should focus on avoiding taking steps where the “cost of getting it wrong far outweighs the benefits,” rather than aiming for the perfect solution to the problem, he said.

Among the costly risks central banks must avoid are to allow inflation expectations to deviate from their targets, Mr. Williams said in a fireside chat with Bank of Japan Deputy Governor Ryozo Himino at the central bank’s conference held in Tokyo.

“You want to avoid inflation becoming highly persistent because that could become permanent,” Mr. Williams said. “And the way to do that is to respond relatively strongly” when inflation begins to deviate from the central bank’s target, he added.

Williams said shocks typically do not have long-lasting effects on inflation as long as inflation expectations are well anchored. But he warned there was always uncertainty on how supply-side shocks, such as those caused by the COVID-19 pandemic, could affect public perceptions on future price moves.

“Uncertainty has risen pretty significantly,” he said “We have to be very aware that inflation expectations could shift in any way that could be detrimental.”

Given such uncertainties, central banks must strive to not just anchor long-term inflation expectations, but ensure shorter-term expectations are “well behaved” so that public perceptions of future price moves emerge back towards central bank targets “within several years,” Williams said.

US President Donald J. Trump’s sweeping tariffs and erratic trade policies have complicated central bankers’ task of keeping inflationary pressure in check, without cooling too much economies already facing the damage from higher levies.

The Fed has kept its policy rate unchanged at 4.25%-4.5% since December, as officials pause for more clarity on the economic and price impact of Trump’s tariffs.

Policymakers are also having to grapple with volatile market moves caused by Mr. Trump’s on-and-off comments on US trade negotiations with other countries.

While global financial markets experienced “huge shocks” and volatility in April after Mr. Trump’s announcement of sweeping reciprocal tariffs, they did not see a “dissolution,” Mr. Williams said.

“One of the things you definitely saw in April was a lot of flow between buyers and sellers,” which was a sign markets were functioning, he added.

The level of reserves in the US is “clearly abundant” judging by many metrics the New York Fed monitors, and serves as a buffer against unforeseen shocks, Mr. Williams said.

“When you get big shocks and you’re seeing unanticipated shocks, it’s really nice that there’s a buffer” that absorb the market ramifications, he added. — Reuters

Lenovo launches cybersecurity tools for small organizations

LENOVO PHILIPPINES

TECHNOLOGY COMPANY Lenovo recently launched cybersecurity offerings that aim to protect small and medium businesses (SMBs) and other organizations with limited resources.

The company said its ThinkShield Solutions suite of security tools can help safeguard assets so that SMBs and other organizations can “prevent costly breaches, reputational damage from ransomware and malware threats, as well as minimize downtime.”

The tools provide a multi-layered security approach that reduces a target’s attack surface. They also use artificial intelligence (AI)-powered solutions for automated protection.

The product is designed for small organizations that have weaker cybersecurity infrastructure compared to large corporations and other institutions, leading cybercriminals to target their vulnerabilities, Lenovo said.

“Even though SMBs and schools are frequently attacked, many suffer under the misperception they are either too small to be a target or their resources are too limited for right-purpose security solutions to be within their budgets,” said Nima Baiati, executive director and general manager, Commercial Cybersecurity Solutions at Lenovo.

The Philippines reported over 17.7 million cyberthreat incidents last year, according to Kaspersky Security Network.

ThinkShield Solutions include the ThinkShield Extended Detection & Response (XDR) powered by SentinelOne, an AI-enabled security integrated across attack surfaces.

“XDR also automates threat management and response, reducing response times and proactively lowering the risk of breaches,” Lenovo said.

Meanwhile, ThinkShield Data Defense Select, powered by Cigent, helps protect data with prevention-based defenses embedded into secured storage devices in Lenovo PCs and within the files.

Lastly, the ThinkShield Hardware Defense, powered by Sepio, allows organizations to manage their hardware assets via a network inventory, also providing updated information on known asset vulnerabilities.

“With ThinkShield Solutions, businesses and organizations of all sizes are able to more easily deploy a series of smart, layered security solutions that scale across the business through a single trusted vendor with global reach,” Lenovo said. — BMDC