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Philippine Seven taps Lark for efficiency across 4,100 stores

PHILSTAR FILE PHOTO

LISTED Philippine Seven Corp. (PSC) is streamlining operations in support of its nationwide expansion efforts after partnering with enterprise collaboration platform Lark.

Under the partnership, PSC will adopt Lark’s tools — ranging from messaging and video calls to no-code workflow builders — the company said in an e-mail statement on Wednesday.

PSC is the exclusive licensee of the 7-Eleven convenience store brand in the Philippines.

“Partnering with Lark is helping us connect teams faster, cut down delays, and create conditions for better decisions every day. It’s a critical step toward building a more responsive, data-driven organization that delivers on what we promise — both to our people and to our customers,” PSC Operations Division Director Francis Medina said.

PSC said the adoption of Lark will support efficiency and improve coordination across its 4,100 stores nationwide. The company aims to open 500 additional 7-Eleven branches this year.

Founded in 2016, Lark offers a unified platform that combines features such as messaging, schedule management, and online collaborative documents.

PSC shares declined by 0.89% or 50 centavos to P55.60 apiece on Wednesday. — Revin Mikhael D. Ochave

Economic output gains from AI likely to outweigh emissions cost, says IMF

REUTERS

ECONOMIC GAINS from artificial intelligence (AI) will boost global output by around 0.5% a year between 2025 and 2030, outweighing the costs of rising carbon emissions by the data centers needed to run AI models, the International Monetary Fund (IMF) said on Tuesday.

An IMF report released at its annual spring meeting in Washington nonetheless noted that those output gains would not be shared equally across the world, and called on policymakers and businesses to minimize costs to broader society.

“Despite challenges related to higher electricity prices and greenhouse gas emissions, the gains to global GDP (gross domestic product) from AI are likely to outweigh the cost of the additional emissions,” it said.

“The social cost of these extra emissions is minor compared with the expected economic gains from AI, yet it still adds to the worrisome buildup of emissions,” it said in the report titled “Power Hungry: How AI Will Drive Energy Demand.”

Takeup of AI is seen driving a surge in demand for energy-intensive data processing power in coming years, even as the world struggles to keep promises on reducing carbon emissions.

The IMF report noted that the space dedicated to server-filled warehouses in northern Virginia, which has the world’s largest concentration of data centers, was already roughly equivalent to the floor space of eight Empire State Buildings.

It estimated that AI-driven global electricity needs could more than triple to around 1,500 terawatt-hours by 2030 — about the same as India’s current electricity consumption and 1.5 times higher than expected demand from electric vehicles over the same period.

The carbon footprint of that rise will in part depend on whether tech firms can keep promises to slash emissions from data centers by increased use of renewables and other means.

COULD AI LEAD TO ENERGY EFFICIENCY GAINS?

The IMF estimated that strong takeup of AI would, under current energy policies, mean a global cumulative increase of greenhouse gas emissions of 1.2%, between 2025 and 2030. Greener energy policies would limit that increase to 1.3 Gt, it estimated.

Using a figure of $39 per ton to quantify the social cost of those emissions, it put that extra cost at $50.7 billion to $66.3 billion — smaller than the income gains associated with the 0.5% point annual boost to global GDP it said AI could yield.

Independent analysts say the economic and environmental impact of AI will depend to a large extent on how it is put to use — and notably whether it can lead to efficiency gains in energy use or more sustainable overall consumption patterns.

The Grantham Research Institute on Climate Change and the Environment said it could even lead to an overall reduction in carbon emissions if it accelerated advances in low-carbon technologies in the power, food and transport sectors.

“But market forces alone are unlikely to successfully drive AI’s application toward climate action,” said Grantham policy fellow Roberta Pierfederici.

“Governments, tech companies and energy companies must play an active role in ensuring AI is used intentionally, equitably and sustainably,” she said, citing the need for R&D funding and policies to address inequalities exacerbated by AI advances. — Reuters

Fresh from the vineyard: More varieties of Aussie grapes now in the Philippines

AUSTRALIA’S largest fresh fruit exporter is their table grape industry. The Philippines, its 4th top destination, received over 8,500 tons of Australian grapes in 2024, media guests learned at an April 8 merienda at Quezon City’s Grapevine Restaurant.

The event also provided an up-close and personal look at the four varieties of Australian grapes available on the Philippine market.

“This season’s grapes are among the finest we’ve ever exported,” said Jeff Scott, Australian Table Grape Association (ATGA) chief executive officer. Spread out among cold cuts, cheese, and wine, guests were invited to pick from the many bunches to test this out.

While they couldn’t quantify the increase in volume from the previous harvest, the “warm sunny days, cool nights, and well-timed rainfall” were cited as the reason behind the better quality of grapes this season. “They’re crisp, sweet, and full of flavor — everything Filipino consumers expect from premium Australian fruit,” said Mr. Scott.

Filipinos can expect to find long-time favorites. There’s Autumn Crisp, a firm, giant green variety with crisp skin, bursting with mild flavor and a subtle hint of muscat. There’s the even-sweeter Candy Dreams, a small-to-medium-sized seedless black grape that is satisfyingly juicy.

New to the guests was the Ralli Seedless, redder in color and softer than the other two. But the scene-stealing variety was the Cotton Candy, characterized by its green color and the elongated shape of the berries. Most notable is how it tastes exactly like its namesake, a pleasant surprise for those with a sweet tooth.

The ATGA said that they are launching an in-store promotional campaign across major Philippine retailers: The Marketplace, Shopwise, Robinsons Supermarket, S&R, Landers, Metro Supermarket, and Joel’s Place.

The goal of these sampling activities is to relay “more information about the taste, origin, and quality of Australian grapes.”

“We are proud to continue strengthening Australia’s close ties with the Philippines. We hope these campaigns and investments in the market showcase how important the Philippines is as a trusted trade partner of Australia,” said Luisa Rust, senior trade and investment commissioner of the Australian Trade and Investment Commission (Austrade) in Manila.

She added that there is “a real curiosity in the Philippines for new taste experiences, especially in the fresh produce aisle.”

Both ATGA and Austrade expect continued growth in terms of exporting Australian table grapes to the Philippines. The four varieties presented will be available in leading supermarkets nationwide. — Brontë H. Lacsamana

With his boots on

Malacanang Photo Bureau

That is how the late Pope Francis ended his 12-year papacy. And what an end that was — making it the envy of any leader who hopes to leave a lasting mark.

No finish could have been more apt for this reformer, who had graced — with visibly great effort amid his clearly weakened state — the Easter public gathering of the faithful at St. Peter’s Square some hours before he died of a stroke and heart failure at 7:35 a.m. (Rome time) on Easter Monday.

I will leave it to historians, theologians, philosophers, and other experts to further parse his four encyclicals, seven exhortations, as well as several motu propio, letters, homilies, speeches and other writings for deeper insights into his messages.

But even an ordinary Christian with less doctrinal education like me can draw a lesson or two from Pope Francis’ example for anyone who seeks to be more effective as a head of an organization and/or a family.

LEADING BY EXAMPLE
So, here goes:

First: he walked the talk.

From the start of his papacy in March 2013, Pope Francis backed with concrete actions his focus on bringing the Church closer to marginalized sectors of society: from adopting a simpler taste in daily wear (e.g., preferring orthopedic shoes to the red Papal shoes), to riding a more modest car, to eschewing protocol and the trappings of office at times (to the chagrin of his aides and security personnel, I’m sure), to simplifying the ceremony for papal funerals, to inviting manual laborers and the homeless for meals with him, as well as to visiting prisons and washing the feet of inmates on Holy Thursdays.

His papacy reminded me of that timeless principle of leading, first and foremost, by example from the front. Personally, I have found precious few leaders who demonstrate: “This is how it is done.”

Second: he was single-minded in his mission to the end.

Judging from his public actions and personal accounts of those who dealt privately with him, Pope Francis was a man on a mission 24/7 and at every waking moment within that time frame.

He exhibited this constant bias and dogged commitment when — even as a wheelchair-bound 88-year-old — he undertook a grueling 12-day journey across Southeast Asia and Oceania in September last year (“Who does such a thing at that age?” I wondered to myself then). He went on 47 “apostolic journeys” covering 68 countries in his 12 years as Pope. He resumed work whenever he could during his last hospital confinement (giving the impression that, finally, he was out of the woods), and ignored his doctors’ order of taking two months of convalescence after recovering last month from double pneumonia, diving headlong back into pastoral work (which probably sped up the deterioration of his health).

HORNETS’ NEST
Third: any organization — including the Church — can be improved, but reform always entails disruption and discomfort.

Each Pope is called to face the specific challenges of a time in history. In my view, St. Pope John Paul II addressed certain political, economic, and social questions (and was instrumental in ending communism in much of the world), Pope Benedict XVI — who is considered as one of the Church’s greatest theologians — elaborated on more points of doctrine in relation to pressing socioeconomic issues in order to strengthen the foundation of faith, while Pope Francis showed that doctrinal soundness necessarily goes hand-in-hand with compassion.

That’s right: it turns out that — contrary to some expectations and perceptions — this Pope did not change an iota of doctrine. So, where some observers pit one papacy against another, I see continuity amid differences.

But Francis did press on an equally important point which, sadly, has been sorely lacking even in some folks who have devoted their lives to God. Simply put: he put heart back into the Church, showing that doctrinal soundness is incom-patible with coldness (meaning, if one were superficially concerned with the less fortunate, the ostracized or the oppressed, then something is just so very fundamentally wrong with his/her faith).

The basis is simple: Jesus himself said that the greatest of all virtues is charity (love of God and neighbor), and the apostle James wrote: “If a brother or sister has nothing to wear and has no food for the day, and one of you says to them, ‘Go in peace, keep warm, and eat well,’ but you do not give them the necessities of the body, what good is it? So also faith of itself, if it does not have works, is dead,” while the “apostle to the gentiles,” Paul, wrote to the Corin-thians, saying: “Though I speak with the tongues of men and of angels, and have not charity, I am become as sounding brass, or a tinkling cymbal” (okay, I had to look those up).

Thus, Pope Francis described the Church as “a field hospital” where all those wounded in the battles of life could heal, rather than as a fortress under siege.

At the same time, this Pope (and his predecessors as well) reminded us that Christianity does not lend itself well to convenience (have you heard of a hospital that was comfortable for health workers on duty?) This is noth-ing new; as the author C.S. Lewis, wrote: “If you want a religion to make you feel really comfortable, I certainly don’t recommend Christianity.”

But in pressing on this aspect of the Church to the point of treading a fine line with doctrine, this Pope also ruffled the feathers of some otherwise well-intentioned folks within, leading to observations of a Church divided between “conservatives” and “liberals.”

All Pope Francis had done was to go back to the basics: How can the Church address disaffection within its ranks as well as reach out to the peripheries? And as many an expert would prescribe: the first thing that any com-pany/organization in crisis (e.g., as the pandemic struck) should do is to remember why it was formed in the first place.

He sought to make a 2,000-year-old institution that is the Church, which has ossified in some parts, agile in the face of emerging (and some nagging) challenges.

Thus, besides testing new procedures like the much-maligned “synodality” (basically, consulting the laity on issues facing the Church which, some fear, could dilute authority of the hierarchy and lead to unwarranted changes in doctrine), this Pope had also asked many of the Church’s orders and other organizations to return to each one’s original charism in order to be more effective in their missions amid changing realities.

He had other struggles elsewhere, dealing with high-profile sexual abuse cases, signs of financial mismanagement in some corners of the Vatican, and calling for an end to conflict in places like Palestine, Ukraine, and Sudan.

If anything, I would credit Francis with an uncanny knack of deftly treading the fine line between pushing the boundaries of reform (so that the Church can carry out its mission better) and actually altering doctrine.

One clear lesson from his pontificate: doing what is right does not involve a popularity contest, and is likely to stir a hornets’ nest among those who need to adjust.

‘THROUGH FIRE’
Finally: a country with one of the worst income gaps in Asia and a persistently high poverty rate can hardly afford to leave this issue to government alone (although appropriate policies and a more energetic campaign against graft and corruption are, hands down, indispensable key ingredients in this fight).

A number of Pinoys (many unknown) realized as the pandemic struck that it was all-hands-on-deck in the race to provide for those who did not have the means to survive those conditions. Thus, “community pantries” pro-liferated nationwide. To be sure, it was not a duty of Christians alone, as I recall a social media post of one Muslim saying that it was his “jihad” to do so for those worst affected in his community.

One of the most uncomfortable messages which Pope Francis left us when he visited the Philippines in January 2015 went something like: “There is a worldly compassion that is useless… It’s a compassion that makes us put our hands in our pockets and give something to the poor. But if Christ had had that kind of compassion, he would have just greeted a couple of people, given them something, and then walked on…”

And since there is strength in numbers, I would argue that this prescription is even better accomplished by a group, i.e., by a business or organization. While several mid-sized and big enterprises carry out some form of corporate social responsibility (CSR) activity — with the more innovative among them graduating to creating shared value (CSV) by aligning business goals with the needs of surrounding communities — small counterparts may consider doing the same as well even if on a more limited scale.

Those who go the extra mile in “giving back” this way do reap benefits, including building support within the community for one’s business as well as attracting and keeping young talent, who are known to be on the lookout for jobs that make a difference.

All these quick takeaways from this great man barely contribute to the tons of lessons that will be unearthed from his life.

Francis was not the first Pope to easily draw thousands and, in the Philippines, even millions, who flocked to listen to him, nor will he be the last. It is a feat that politicians undoubtedly envy, especially in the lead up to any election. Unfortunately for them, what makes leaders like this Pope “tick” with the multitudes is something that may well be beyond their grasp.

Those looking for the “Francis recipe” may want to check out the growing number of tributes to this man, the best of which, ironically, come from unexpected quarters. One of my favorites was that of Vinod Sekhar, chairman and chief execu-tive at the Petra Group, who wrote: “I am a Hindu. My God is known by different names. My prayers come in different rhythms. But I would have followed this man through fire.” (https://www.facebook.com/share/p/15BQnprTN4/)

 

Wilfredo G. Reyes was editor-in-chief of BusinessWorld from 2020 through 2023.

Term deposit yields decline as market expects more BSP cuts

BW FILE PHOTO

TERM DEPOSIT YIELDS went down on Wednesday on expectations of further rate cuts from the Bangko Sentral ng Pilipinas (BSP) after it resumed its easing cycle this month.

The BSP’s term deposit facility (TDF) attracted bids amounting to P162.305 billion on Wednesday, above the P140 billion on the auction block but lower than the P198.961 billion in tenders seen a week ago for a P160-billion of-fer. The central bank awarded P14 billion in deposits as planned.

Broken down, tenders for the seven-day papers reached P78.059 billion, higher than the P70 billion auctioned off by the central bank but below the P123.033 billion in bids for the P80 billion offered the previous week. The BSP made a full P70-billion award of the tenor.

Accepted rates ranged from 5.45% to 5.585%, wider and lower than the 5.5% to 5.6% band seen a week ago. This caused the average rate of the one-week deposits to decline by 2.37 basis points (bps) to 5.5522% from 5.5759% previously.

Meanwhile, bids for the 14-day term deposits amounted to P84.246 billion, above the P70-billion offering and the P75.928 billion in tenders for the P80 billion auctioned off a week ago. The central bank awarded P70 billion in two-week papers as planned.

Banks asked for yields ranging from 5.52% to 5.7%, narrowing from the 5.5% to 5.76% margin recorded a week ago. With this, the average rate for the two-week deposits fell by 1.57 bps to 5.6338% from the 5.6495% logged in the prior auction.

The central bank has not auctioned off 28-day term deposits for more than four years to give way to its weekly offerings of securities with the same tenor.

The term deposits and the BSP bills are used by the central bank to mop up excess liquidity in the financial system and to better guide market rates.

“The BSP TDF average auction yields were again slightly lower for the third straight week after the widely expected local policy rate cut on April 10 and the recent dovish signals from local monetary authorities on possible future rate cuts,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

The Monetary Board on April 10 resumed its rate-cutting cycle, reducing benchmark borrowing costs by 25 bps to bring the policy rate to 5.5%.

BSP Governor Eli M. Remolona, Jr. said they will likely continue cutting rates further this year in “baby steps” or increments of 25 bps.

There are four more Monetary Board policy meetings this year, with the next slated for June 19.

Mr. Ricafort added that TDF yields dropped amid lower global crude oil prices and a stronger peso recently, which could help ease inflationary pressures and justify further monetary easing moving forward.

Brent crude futures climbed 55 cents or 0.8% to $67.99 a barrel at 0400 GMT, while US West Texas Intermediate crude was up 54 cents or 0.9% at $64.21 a barrel, Reuters reported.

US crude oil inventories fell by around 4.6 million barrels last week, market sources said on Tuesday citing American Petroleum Institute data.

US government data on oil stockpiles are due at 10:30 a.m. ET (1430 GMT) on Wednesday. Analysts on average estimated an 800,000-barrel decline in US crude oil stocks last week, a Reuters poll showed.

Trade tariffs have weighed on crude futures on investor concern about their potential to slow global economic growth.

Meanwhile, the peso has recently been trading at the P56 level as growing trade war concerns have pummelled the US dollar. — Luisa Maria Jacinta C. Jocson with Reuters

Higher cost of flight

Starting this week, civil aviation authorities began charging airline companies and passengers around 60% more for using the country’s airports. Under Memorandum Circular 019-2025, the Civil Aviation Authority of the Philippines (CAAP) raised the passenger service charge (PSC), or terminal fee, for international flights to P900 from P550.

For domestic flights, the terminal fee is now P350 for passengers departing from international airports; P300 for “principal class 1” airports; P200 for “principal class 2” airports; and P100 for “community airports.” Pre-viously, all domestic passengers paid a flat terminal fee of P200.

Aside from terminal fees, CAAP also increased landing and take-off fees for all international and domestic flights, as well as charges for the use of various airport facilities. These include runways, taxiways, apron areas, parking (based on aircraft weight and number of hours), lighting systems for landings and takeoffs from 6 p.m. to 6 a.m., and the use of boarding bridges or passenger tubes.

Offhand, the hike appears justified. CAAP noted that fees were last revised a decade ago and required adjustment to reflect inflation from 2015 to the present. The new rates apply only to CAAP-operated airports. According to CAAP, the fee hike “supports CAAP’s efforts to enhance passenger experience and improve airport facilities and operations.”

Privately operated airports — such as the Ninoy Aquino International Airport (NAIA), the Mactan-Cebu International Airport, Clark International Airport, and Caticlan Airport in Boracay — are not covered by the new CAAP terminal fee schedule. These operators set their own terminal fees independently.

At NAIA, terminal fees are expected to increase by September to P950 for international departures and P390 for domestic flights. However, CAAP’s revised airport charges — such as those for takeoff and landing — will still apply. In gen-eral, it appears that air travel is about to become more expensive for both airlines and passengers.

Admittedly, inflation has eroded the real value of CAAP’s fees over the past decade. Operating airports requires ongoing capital outlays for maintenance, equipment upgrades, and modernization. Still, I believe that instead of an outright fee hike, a calibrated, transparent, and consultative approach would have been more appropriate.

CAAP’s financial track record since 2018 — and comparisons with other ASEAN aviation authorities — suggest that the increase, both in magnitude and timing, may be premature and not entirely aligned with the goal of fostering long-term industry sustainability.

Consider CAAP’s audited financial records. As a government-owned and -controlled corporation (GOCC), CAAP remained profitable for most of the last decade, even without raising fees. In 2017 and 2018, its net in-come exceeded P2 billion annually. While operations were disrupted by the COVID-19 pandemic in 2020 and 2021, CAAP quickly recovered. It posted a P1.97 billion net income in 2022, followed by P2.18 billion in 2023. In short, CAAP is back to pre-pandemic profitability — without needing to increase fees.

To its credit, CAAP has managed to balance revenues and expenses while operating more than 80 airports across the country. Given this, I believe the 60% jump now in international terminal fees is disproportionate. CAAP’s own financial statements suggest it can continue operating profitably even under the current fee structure.

Moreover, any fee increase should not be based solely on inflation. Instead, fees should be tied directly to specific, measurable improvements in airport infrastructure, technology, safety systems, and passenger experience. In short: why should passengers and airline companies pay 60% more starting this month if services and facilities do not improve by at least that much?

At this point, I am uncertain which projects will be funded by the additional collections, how much they will cost, or where they will be implemented. CAAP should publish a list of priority projects, including timelines and projected budgets — for example, navigational aid modernization, terminal expansions, and airside safety improvements. It should inform the public what to expect in exchange for higher fees.

The worrying outcome would be if these additional collections simply go toward general operations, including salaries and administrative costs, without any visible or tangible improvements in airport services or operational efficiency. All this for the sake of improving profitability? But to whose benefit? Only CAAP’s? What will the flying public gain in return?

There’s also the matter of regional comparisons. At P900, the new international passenger terminal fee at CAAP airports is going to be slightly higher than those of several neighboring ASEAN countries. Malaysia charges about P740, Thailand around P800, with Vietnam and Indonesia reportedly maintaining comparable or lower rates. But are Philippine airports better than their counterparts in these countries? Will they become better in two to three years? Any increase in fees must be matched by actual improvements in service quality.

Granted, the new fee structure is already in place. But perhaps CAAP can still recalibrate. I believe a staggered implementation would have been better. Instead of a one-time 60% hike, CAAP could have pursued a three-year phased approach: a 15%-20% increase annually from 2025 to 2027. This would allow both airlines and passengers more time to adjust.

Gradual fee adjustments are easier to justify — and accept — when they are accompanied by incremental, visible improvements. This approach would also give CAAP more flexibility to roll out and fund its projects, while managing stakeholder expectations.

Transparency and accountability are paramount. As a government corporation generating revenue in exchange for public services, CAAP should reinvest every extra peso it collects toward improving those services. CAAP is not a revenue collection agency; its authority to impose fees is grounded in its public service mandate.

Over the last 10 years, CAAP has demonstrated that it can manage its resources well. Its personnel have shown they can run the agency profitably even under the current fee regime, despite inflation. The next challenge is for CAAP to demonstrate that it can also fulfill its mandate effectively by using its P2 billion-plus annual profits to enhance airport services.

A sudden, across-the-board fee hike of up to 60% should be reconsidered. A phased, transparent, and performance-based approach makes more sense — for passengers, airlines, and for CAAP itself. CAAP should have tangi-ble, measurable projects that actually “enhance passenger experience and improve airport facilities and operations.”

 

Marvin Tort is a former managing editor of BusinessWorld, and a former chairman of the Philippine Press Council

matort@yahoo.com

The Wholesome Table: even more so with plant-based dishes

WHILE The Wholesome Table is known for its organic food, it had not done a full plant-based menu until now.

This summer, in addition to its conscious dining options, they have released a full plant-based menu covering everything from appetizers to dessert. It’s not entirely vegan, but taking away an ingredient or two would make it so. Available since February, the limited season will stay throughout the summer — except for the bestsellers, which would then remain on the menu.

“We have a lot of customers who have been requesting vegetarian or more plant-based dishes,” Wholesome Table founder and former model Bianca Araneta-Elizalde said in a speech during the April 3 launch at their Shangri-La Plaza branch. “Here in Wholesome Table, I’ve always said (that) I never wanted to discriminate against a food group — if you’re carnivore, vegetarian, flexitarian — there’s always something here for you.”

The menu starts with Farmer’s Salad, made from Wholesome Farms’ harvest, a mix of mesclun greens topped with shredded carrots, red cabbage, edamame, cucumber, and cherry tomatoes, tossed in homemade roasted ses-ame dressing. The vegetables will differ according to the availability on their farm. For example, during our tasting, they included peppery sorrel. “Hopefully, by the end of this year, we’ll provide 100% of the produce (for their branches). That way, I can really control quality and really know how our vegetables and produce are grown,” Ms. Araneta Elizalde said about their new farm in Lipa. The salad, by the way, was one of the heftiest we’ve had: no lightness here; this will really fill you up.

Next came a Green Hummus with Roasted Eggplant (edamame hummus, chimichurri, and pickled onions with crisp, sour bread toast): the eggplant was cooked in a way that it resembled fish in look and taste, giving muscle to the curious mush. We could say the same about the Thai Crispy Rice: fried crispy arborio rice, cilantro, grilled shiitake, cucumber, and pickled onion.

Given options, we at the table decided to order different things and just switch and share. Both of us liked the Buddha Bowl: a savory dish with bagoong (fermented fish paste) rice, stir-fried vegetables, roasted sweet potatoes, chickpeas, sweet potato puree, curry sauce, and tamarind glaze. It was filling and complete and had a feeling of being nutritious without being too preachy. As for the Vegetarian Laksa, I liked it; my companion didn’t. It had coconut milk broth with pandan tofu, cilantro, basil, bell peppers, zucchini, and mushrooms, topped with bean sprouts with lime wedge. The broth tasted both nutty and creamy, with just enough kick to clear the nostrils: our seatmate disliked it for those same reasons.

We both had to skip dessert, unfortunately: a Panna Cotta with organic cream, vanilla, raspberry sauce, and blackberry jam, topped with chunks of golden mangoes.

THE WHOLESOME FARM; LIFESTYLE BRAND?

Ms. Araneta Elizalde discussed why they built a farm to supplement The Wholesome Table. “Honestly, it’s to bring down the cost of these goods [for the restaurants]. Buying organic is definitely much more expensive than conven-tional,” she said in an interview.

It’s the same reason why the restaurant is hard to replicate and multiply as a full-fledged chain. (It now has three branches: Shangri-La Plaza, Salcedo, and BGC; it previously had branches in Rockwell and Greenbelt). “It’s going to be a logistical nightmare… this menu in other places where we can’t access organic ingredients,” she said, while recalling that someone once urged them to open in Boracay. “I really see Wholesome Table just in the metro. Maybe Cebu — because there I’m sure you’ll be able to get organic ingredients.

“It’s not a concept that can be like a chain that opens everywhere,” she said.

However, there might be another way for wholesome dining to enter more homes: with the farm and the name, why not go the brand route? Think jars of peanut butter, and other healthy snacks (which they already have); but why not throw in a yoga mat or two? “I mean, that was always the goal, right? It’s a lifestyle. It’s more than just eating,” she said.

“We’ll see.” — Joseph L. Garcia

InLife looks to launch more products to expand digital, health offerings

INSULAR LIFE Assurance Co., Ltd. (InLife) will launch two or three more products this year to expand its digital and health offerings.

“Being present in digital experiences that people are already exposed to and normal for them would be the best way forward. So, those are definitely in mind as we think things through. We are looking at supplementing what we already have. So, it should be new,” InLife Chief Product and Innovation Officer Jose Eduardo O. Ang told reporters at an event on Wednesday.

“If you can do it on your phone, you can figure things out yourself, why not? So we’re still looking at opportunities down that line… We are quite excited because we are trying to approach these things in novel ways that haven’t been tried before here in the Philippines,” Mr. Ang said.

These new offerings aim to make insurance protection more accessible and easier to understand, he added.

InLife will also launch more health-focused products this year to build on the strong growth they saw in the segment last year.

“Last year, we saw huge traction in our health products. Resilience hit about 10% share sales-wise on a given month,” Mr. Ang said, referring to their limited pay whole life and health insurance product for those critical illnesses that comes with cash payouts and additional health benefits.

“We’re looking at other propositions that will also supplement that front so that there’s a more cohesive and larger ecosystem on the health side.”

InLife plans to launch three to four new products annually, Mr. Ang added. “It will depend also on some of the partnerships we are trying to form how quickly we can get them out. We are hoping, at least, that there might be two or three more down the pipeline. I guess three to four every year would be a healthy pace. And then, maybe that’s supplemented with a few refinements here and there.” —

They are also looking to launch more investment funds with income payouts, Mr. Ang said.

“Most of the inflows right now are to funds that provide income payouts. That is something that is always rooted to the wider global financial system,” he said.

InLife on Tuesday launched Retire Assure, its retirement insurance product with guaranteed monthly cash payouts, to corporate clients.

“We’ve always envisioned Retire Assure to be a product that fits to as many people as possible, regardless if they’re a corporate client or not. We just feel that if we already have a corporate client that we’re partners with, it should be easier at least because there’s an established relationship and we can partner with them closer. While we were able to form partnerships with so many corporations, right now we’re really targeting what we can with those relationships we already have,” Mr. Ang said.

He said InLife now has more than 1,400 Retire Assure clients from companies, adding that the product has already made up about 5% to 10% of its monthly sales.

“It’s nice because it didn’t really cannibalize what we’re offering with our other products. It’s becoming a nice supplement,” he said.

InLife’s premium income stood at P18.46 billion last year, data from the Insurance Commission showed. It booked a net income of P2.66 billion. — Aaron Michael C. Sy

Philippines ranks 122nd in economic crime list

The Philippines ranked 122nd out of 177 countries in the inaugural Secretariat Economic Crime Index (SECI) by the advisory firm Secretariat.  On a scale of 0 (minimal risk) to 4 (maximum risk), the country scored 2.51 and classified as “reactive reformer.”  The SECI is a composite index that integrates three crucial dimension of economic crime: organized crime, corruption, and money laundering.

Sustainable providers seen to support companies’ push for use of greener technologies

FREEPIK

TAPPING eco-friendly providers can help companies push their digitalization and artificial intelligence (AI) initiatives while staying on track towards achieving their sustainability goals, the Alibaba Cloud Intelligence Group said.

“Forging partnerships with technology providers that prioritize sustainability would be a good first step toward the adoption of greener technologies,” Allen Guo, general manager for the Philippines at Alibaba Cloud Intelligence, said in an e-mail.

“Companies can also leverage open-source AI initiatives to reduce energy consumption associated with AI training and deployment making these technologies more accessible and sustainable.”

A survey titled Tech-Driven Sustainability Trends and Index 2024 conducted by Yonder Consulting and commissioned by Alibaba Cloud showed that the Philippines showed the greatest interest in adopting AI, cloud computing and other advanced digital technologies to support sustainable development at 91%.

This was higher than emerging Asia’s average of 83%, as well as Singapore’s 84%, Indonesia’s 81%, and Thailand’s 81%.

When selecting a cloud provider, Philippine businesses prioritize those that use renewable energy (57%), maintain energy-efficient data centers (50%), and maintain commitments on innovation or sustainable products and services (41%), according to the survey.

However, the survey also noted that 77% executives in the Philippines said their organizations lag in adopting cloud computing and AI to accelerate progress toward sustainability goals.

Some 77% of Philippine respondents also said that they fear that high energy consumption associated with digital technologies may hinder widespread AI adoption.

“This highlights a gap between awareness and implementation, suggesting that while interest is high, adoption needs to catch up to fully leverage technology for sustainability goals,” Mr. Guo said.

He said there is a need for increased education about practical and energy-efficient technology applications to encourage sustainable AI adoption.

Philippine businesses are expected to further adopt sustainable technologies amid the new sustainability reporting regulations of the Securities and Exchange Commission and the Philippine Stock Exchange, Mr. Guo said.

“These evolving requirements, aligned with international best practices, are driving businesses to invest in technologies that support sustainable development and ESG (environmental, social, and governance) reporting.”

Alibaba Cloud is looking to help Philippine businesses achieve their sustainability goals offering open-source AI models and improving the energy efficiency of its data centers, it said.

It recently released open-source models like Qwen series and Wan series, while its AI-driven sustainability solution Energy Expert helps enterprises measure and analyze carbon emission and energy consumptions.

The company has pledged to use 100% clean energy by 2030. — Beatriz Marie D. Cruz

ETON allots P900M for township, property upgrades

Eton City Square in Sta. Rosa, Laguna

ETON Properties Philippines, Inc. (EPPI), the real estate arm of the Lucio Tan Group, has earmarked P900 million in capital expenditures (capex) for 2025 to support its property enhancement programs and township redevelopment.

“We’re staying focused on what matters: building better spaces, improving the way people live and work, and responding to what our markets need,” EPPI President and Chief Executive Officer Kyle C. Tan said in a statement on Wednesday.

EPPI also reported a 71.45% decline in its net income to P213 million for 2024, down from P746 million a year ago, mainly due to a one-time P503-million inventory valuation gain recognized in 2023.

The decline was also attributed to increased costs, particularly in vertical and horizontal development activities, maintenance and repair work, taxes, and personnel, it said.

“2024 showed our ability to stay steady in a shifting market. We stayed focused on delivering long-term value, adapting where needed, and investing where it mattered most,” Mr. Tan said. — B.M.D. Cruz

Kuya J Group sets P100M for expansion, renovation

KUYA J Food Group, Inc. has allocated around P100 million for capital expenditure (capex) this year to support its planned store openings and renovations of up to 15 stores.

Kuya J Group President Winglip K. Chang said during a briefing on Wednesday that 10 to 15 stores are currently in the pipeline for renovation this year out of the company’s 81 stores nationwide.

The company also plans to add up to four new stores this year, with its Laoag branch set to open by June, according to Kuya J Group Chief Operating Officer Don Edrian Tirol.

“That’s just the number of branches we want to open because we believe renovation is better than expansion for now,” he said, noting that the goal is to provide customers with a better experience.

He said that the plan is to open the new stores through franchising, which costs around P12-14 million, depending on the size of the store.

“We are focusing on franchising because, right now, we have already perfected how we serve the food, how it is prepared, and how it is made in the kitchen,” he added.

The company began offering franchising for Kuya J Restaurant in 2020. — Justine Irish D. Tabile