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Sony Philippines to launch latest wireless earphones

SONY Philippines is set to release this week its latest noise-cancelling wireless earbuds, the WF-C700N.

The WF-C700N, priced at P6,999, will be available at Sony Authorized Dealers nationwide starting April 21 in three colors: black, white, lavender and sage green.

“The WF-C700N are small and lightweight for all-day comfort, perfect for those looking for their first pair of truly wireless noise-cancelling earbuds,” Sony Philippines said in a statement on Friday.

The company said the earbuds are designed to ensure comfort and stability for varied ear shapes.

“Sony has designed the WF-C700N by utilizing extensive ear shape data collated since it introduced the world’s first in-ear headphones in 1982, as well as evaluation of the sensitivity of various types of ears. The WF-C700N earbuds combine a shape to perfectly match the human ear with an ergonomic surface design for a more stable fit, so you can listen for longer without needing a break,” it said.

The hybrid silicone rubber earphones come in a cylindrical charging case.

The WF-C700N features noise cancelling to turn off your surroundings using its Noise Sensor Technology. It also has an Ambient Sound mode to let you stay connected to the world outside.

“In Ambient Sound Mode, the feedforward mics capture more of the ambient sound around you, so you can enjoy a natural listening experience while staying connected to your environment. You can personalize the settings within the Sony | Headphones Connect app or use the Focus on Voice setting to chat without removing your earbuds,” Sony Philippines said.

The earbuds also have an Adaptive Sound Control feature that adjusts ambient sound settings depending on where you are.

“It recognizes locations that you frequently visit, such as your workplace, the gym or a favorite cafe, and switches the sound modes that suit the situation. With this, you can seamlessly move through your surroundings all while letting your favorite artists and entertainment play on,” the company said.

“The WF-C700N delivers high-quality sound with its Digital Sound Enhancement Engine. Plus, with the help of Sony’s original 5-mm driver unit, the WF-C700N packs a punch, producing powerful bass and stunningly clear vocals despite their small size, bringing out the best in whatever genre or entertainment you choose. You can also change your music to fit your taste with the EQ settings on the Sony | Headphones Connect app,” it added.

The WF-C700N has a Multipoint connection feature that allows the earphones to be paired with two Bluetooth devices at the same time.

“So, when a call comes in, your earbuds know which device is ringing and connects to the right one automatically. The WF-C700N also provides reliable call quality thanks to the Wind Noise Reduction Structure which delivers your voice clearly, even on a windy day,” Sony Philippines said.

The earbuds have a battery life of up to 15 hours, the company said. They also have an IPX4 water resistance rating.

WH-1000XM5 IN MIDNIGHT BLUE
Meanwhile, Sony Philippines will launch on May 12 the Midnight Blue version of its WH-1000XM5 noise-cancelling headphones, which is priced at P20,999.

“Since the launch of the WH-1000XM5 in 2022, the wireless headphones have received numerous awards and critical acclaim for their industry-leading noise cancellation and superior sound quality,” it said.

Both the WF-C700N and the WH-1000XM5 Midnight Blue were designed with sustainability in mind, the company said, as zero plastic is included in their packaging material, “reflecting Sony’s commitment to reducing the environmental impacts of their products and practices.” — Bettina V. Roc

JG Summit Holdings, Inc. to hold annual stockholders’ meeting on May 15

 


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EEI income declines 58% to P209M

YUCHENGCO-led EEI Corp. posted a 58% decline in its attributable net income to P209.21 million in 2022 from P489.7 million in 2021 as revenues decreased.

Last year, the company recorded P14.65 billion in revenues from contracts with customers, 9.3% lower than its top line in 2021 of P16.15 billion.

Around P12.53 billion of the revenues came from construction contracts, which declined by 16.1% in 2022 from P14.94 billion in 2021.

Power sales jumped by more than nine times to P882.81 million in 2022 from P97.05 million in 2021, while revenues from manpower services climbed by 10% to P624.79 million from P568.01 million.

Merchandise sales were lower by 29.6% to P271.52 million last year from P385.87 million in the previous year, while real estate sales declined by 71.6% to P3.98 million from P14.03 million.

The company’s revenues from other sources grew by more than two times to P340.33 million from P142.18 million.

The company also booked an equity loss from investments in associates and joint ventures amounting to P105.85 million in 2022, a reversal of an equity earnings of P925.17 million in 2021.

EEI’s associates are Saudi Arabia-based Al-Rushaid Construction Co. Ltd., PetroSolar Corp., Rice Integrated Commercial Enterprises, Inc. Its joint ventures are PetroWind Energy, Inc., Shinbayanihan Heavy Equipment Corp., and BEO Distribution and Marketing Corp. It also has Shimizu-Fujita-Takenaka-EEI and Acciona-EEI joint ventures.

EEI is a subsidiary of House of Investments, Inc., which is part of the Yuchengco Group of Companies.

On Wednesday, shares in EEI went up by a centavo or 0.33% to P3 each. — Justine Irish D. Tabile

Universal Robina Corp. to hold annual meeting of stockholders on May 15

 


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US FTC leaders will target AI that violates civil rights or is deceptive

TRUSTPAIR.COM

WASHINGTON — Leaders of the US Federal Trade Commission (FTC) said on Tuesday the agency would pursue companies who misuse artificial intelligence to violate laws against discrimination or be deceptive.

The sudden popularity of Microsoft-backed OpenAI’s ChatGPT this year has prompted calls for regulation amid concerns around the world about the possible use of the innovation for wrongdoing even as companies are seeking ways to use it to enhance efficiency.

In a congressional hearing, FTC Chair Lina Khan and Commissioners Rebecca Slaughter and Alvaro Bedoya were asked about concerns that recent innovation in artificial intelligence, which can be used to produce high-quality deep fakes, could be used to make more effective scams or otherwise violate laws.

Mr. Bedoya said companies using algorithms or artificial intelligence were not allowed to violate civil rights laws or break rules against unfair and deceptive acts.

“It’s not okay to say that your algorithm is a black box” and you can’t explain it, he said.

Ms. Khan agreed the newest versions of artificial intelligence (AI) could be used to turbocharge fraud and scams and any wrongdoing would “should put them on the hook for FTC action.”

Slaughter noted that the agency had throughout its 100-year history had to adapt to changing technologies and indicated that adapting to ChatGPT and other artificial intelligence tools were no different.

The commission is organized to have five members but currently has three, all of whom are Democrats. — Reuters

Term deposit yields decline on expectations of rate hike pause

BW FILE PHOTO

YIELDS on the Bangko Sentral ng Pilipinas’ (BSP) term deposits dropped on Wednesday following signals that the central bank could pause its tightening cycle next month if inflation eases further in April.

Demand for the BSP’s term deposit facility (TDF) amounted to P329.972 billion on Wednesday, higher than the P300-billion offer but below the P409.621 billion in tenders seen a week earlier for the same amount on the auction block.

“The BSP retained the volume offering for the TDF auction at P300 billion, with the allocation between the 7-day and 14-day tenors still at P170 billion and P130 billion, respectively,” BSP Deputy Governor Francisco G. Dakila, Jr. said in a statement.

Broken down, the seven-day term deposits fetched bids amounting to P184.251 billion, surpassing the P170 billion auctioned off by the BSP but lower than the P251.915 billion in tenders logged the previous week for the same offer.

Accepted rates for the tenor ranged from 6.3% to 6.6288%, wider than the 6.375% to 6.64% band logged a week ago. This caused the average rate of the one-week deposits to slip by 0.3695 basis point (bp) to 6.5902% from 6.5939% previously.

Meanwhile, demand for the two-week deposits amounted to P145.721 billion, higher than the P130-billion offer but below the P157.706 billion seen in the previous auction.

Banks asked for yields from 6.5% to 6.64%, a tad lower than the 6.5995% to 6.6566% range seen last week. This caused the average rate of the paper to dip by 2.0994 bps to 6.6153% from the 6.6362% quoted on April 12.

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

The term deposits and the 28-day bills are used by the central bank to mop up excess liquidity in the financial system and to better guide market rates.

“The results of the auction reflected market participants’ sustained demand for the TDF. Moving forward, the BSP’s monetary operations will remain guided by its assessment of the latest liquidity conditions and market developments,” Mr. Dakila said.

TDF yields went down following signals of a possible pause in BSP rate hikes, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

BSP Governor Felipe M. Medalla said in an economic briefing last week that the Monetary Board may consider pausing its tightening cycle at its meeting next month.

“We’re probably near the end [of our tightening cycle]. We’re probably [considering] pausing at the next meeting because the [month-on-month] inflation prints are very good. If April turns out to be another very low inflation month, so that’s three good points in a row, then we are in a position to pause,” Mr. Medalla said.

The Philippine Statistics Authority will release April inflation data on May 5.

The Monetary Board will next meet to discuss policy on May 18.

Headline inflation slowed to 7.6% in March from 8.6% in February, bringing the first-quarter average to 8.3%, still well above the central bank’s full-year forecast of 6% and the 2-4% target.

The Monetary Board has raised borrowing costs by 425 bps since May last year — including the 25-bp hike last month — bringing the benchmark rate to 6.25%, the highest since 2007.

The central bank chief also signaled that they may cut policy rates this year if inflation eases further for the next six months.

However, Mr. Ricafort said the BSP could still match the US Federal Reserve next month, with the market expecting another 25-bp rate hike at their meeting on May 2-3.

The Fed has hiked borrowing costs by a total of 475 bps since March 2022, with the fed funds rate now at a range between 4.75% and 5%. — Keisha B. Ta-asan

French sommelier for hire

DOUGLAS LOPEZ-UNSPLASH

A SOMMELIER by definition is a trained and knowledgeable wine professional, normally working in fine-dining restaurants, who specializes in all aspects of wine service as well as food and wine pairing. Sadly, sommelier is also one of the most abused titles in the hospitality business, and for many third-world countries, this title is given rather handily even with the titleholder not having the wealth of experience, the education, and the specialization one must obtained for such a position.

For a country that does not have a wine culture like the Philippines, a wine steward, in my humble opinion, is a more appropriate and less snooty title for a member of the waitstaff who is tasked to sell and serve the wines in an on-premises establishment. I don’t expect my wine steward, for example, to know and memorize the seven Grand Cru vineyards in Chablis Burgundy like I probably would if I were facing a real sommelier. To me this is similar to calling someone a cook rather than a chef relative to a person’s experience managing a kitchen.

A sommelier’s main job description is to let customers discover wines and their amazing sensory pleasure, especially when taken with food. But this role starts at the beginning. With literally thousands and thousands of wine choices available from various wine suppliers, an in-house sommelier chooses which wines are befitting of getting listed in the establishment’s wine list, and which ones, based on a budget, can be a house-pour or by-the-glass wine. The overall restaurant theme should also be a key consideration and the allotted investment for wines of the restaurateur-owner.

So, familiarity with wine regions, wine varietals, and the various wine styles are inherently important.

Wine samples are quite expensive and not a lot of wine suppliers will provide free wines for preview tasting especially if wine volume, outside of house-pour, is quite negligible. Therefore, to be a sommelier, rather than just someone with certificates of wine seminars attended, most relevant would be the wealth of experience acquired from drinking lots of wines from every conceivable wine region in the planet, and, yes, whether good, commercial, expensive, bad, obscure, or cheap ones — all count, so as a wine taster, one can form an opinion. There is really no substitute for this. Our taste buds need to be trained.

Once the wine list is done, the role of sommelier becomes vital to the bottom-line of the establishment. A sommelier should spare a customer from browsing through the wine list and should narrow wine choices to two or three options. Then, the sommelier can describe the characteristics of each wine option from memory, while adding wine tidbits like region, winemaker, and other facts that can only enhance the customer’s anticipation of the wine.

In more sophisticated wine drinking countries in Europe, North America, and Oceania, a sommelier is actually a “must have” in fine-dining restaurants, as the income generated from wine sales is quite substantial. An establishment is willing to invest in such a position, which in these countries can be paid as high as a maître d’ or a sous-chef. Imagine up-selling from a by-the-glass wine to an expensive Bordeaux grand cru bottle?

MEET DAMIEN PLANCHENAULT OF PERFECT CELLARSOne true sommelier I met in the country — and he just so happened to be French too — is Damien Planchenault. From Paris, Lyon, Dubai, to St. Andrews, Scotland, and since 2014, Manila, Damien has been engaged in wine hospitality since finishing his education at a catering school in Dinard (a town in Brittany, France) in the early 2000s. It also helped that Damien was born and raised in the wine region of Loire — home of the best Sauvignon Blancs in the world.

I met Damien for the first time in early 2015 when he was the restaurant manager-cum-sommelier of the Tasting Room at the City of Dreams. A typical Frenchman with high confidence, he is very opinionated and unapologetic on his takes on wines — I liked Damien immediately from the moment I met him. I would collaborate with him soon after when I organized a wine dinner at the Tasting Room for one of my Golden Wines French principals. Damien was extremely professional and super-efficient to work with.

Later, Damien would move to the nearby Okada Casino Hotel and assumed the higher position of Senior Beverage Manager. Again, I sought his assistance when I did a wine dinner at the La Piazza for my Italian principal Pio Cesare. I can truly say he is a sommelier through and through, and his knowledge of wines is as good as it gets.

While his allegiance to French wines is obvious, Damien is at least very appreciative of the other amazing wines from other regions in the world, with Barolo, Brunello di Montepulciano, Ribera del Duero and Priorato being some of his favorite wines outside of French wines.

THE PANDEMIC CHALLENGEIn 2020, at the start of the COVID-19 menace, like several expatriates in the hotel industry, Damien found himself in a bind when his contract was not renewed by Okada. Instead of packing his bags to leave, Damien decided to stay in the country, and, as he confessed to me, it was also because of love.

Damien had found his perfect Filipina partner in May and they decided to create Perfect Cellars, a company born out of Damien’s experience with his other love, wines.

Damien wanted to be an advocate of food and wine pairing and a perfect curator of wines for people who are just learning about wines. Damien is therefore a Sommelier-for-Hire. Since he has already dealt with the biggest wine suppliers in the country, Damien knows where to get his wines, and at budgets his customers are willing to pay for them.

Aside from selling wines from existing wine suppliers that Damien himself drinks and believes in, Perfect Cellars also does wine events, primarily his wine dinner series. In March of 2021, when people were still scared of going out to dine, he made his first wine dinner in collaboration with chef Patrice Freuslon at the Society Lounge in Makati. Back then, Damien had to limit the dinner capacity to 30 pax because of the social distancing restrictions. The first Perfect Cellars event was a resounding success that inspired Damien to continue.

Now, two years later, Damien and Perfect Cellars still do their wine dinners, but he now ties up with several restaurants, each time creating a food and wine pairing that showcases the best the restaurant can offer, with the wines he himself curated to pair with them. The frequency has also increased from once a month to twice a month. Perfect Cellars wine dinners also appear in Facebook ads, which helps to get the word out.

I recently attended one at the Somm’s Table, Makati and got to experience firsthand how Damien did his food and wine pairing magic. At this wine dinner, I got to discover five different wines I had not encountered in the past. Again, because Damien has no loyalty to any wine supplier, he has the free hand in selecting which wines go with which food, and in this wine dinner, the five wines came from multiple suppliers.

The following were my tasting notes on the wines I had at Somm’s Table:

1. Champagne Louis de Sacy, Verzy Grand Cru, France — “relentless effervescence, nose of red roses, juicy, and nice bread dough finish”’; paired with Hokkaido oyster.

2. Wildeberg “Coterie” Sauvignon Blanc-Semillon 2020, South Africa — “minerally, slate, citrusy, white petals, dry with herbal finish”; paired with seared scallops.

3. Frederic Brouca “Champs Pentus” Faugeres 2020, France — this region in southern France has not been high on my list, but this Faugeres from Frederic Brouca is a pleasant surprise; a blend of grenache, syrah, and carignan (Rhone varietals), the wine exudes “violets, figs, lighter bodied with earthy notes; extremely quaffable and easy to drink”; paired with Somm’s Table version of bacalao — to me, the best pair of the night.

4. Cruz de Alba “Fuentelun” Ribera del Duero Reserva 2019, Spain — from the Tempranillo varietal; “animal notes on the nose, fowl and farm elements, but opens up eventually with prunes and eucalyptus, medium-bodied with nice mocha-like finish”; paired with roasted lamb.

5. Disznoko Tokaji Late Harvest 2017, Hungary — from the Furmint varietal, “sweet and cloying, plastic resin nose, viscous, long length with honey and apricot marmalade finish”; paired with lemon tart.

It is hard not to like wine when you are having it with the right food, and Damien and his Perfect Cellars team know this all too well. He is the consummate sommelier, and he is in fact for hire.

You can contact Damien at planchesomme@gmail.com or at his mobile number 0917-631-1246.

 

The author is the first Filipino wine writer member of both Bordeaux based Federation Internationale des Journalists et Ecrivains du Vin et des Spiritueux (FIJEV) and the UK-based Circle of Wine Writers (CWW). For comments, inquiries, wine event coverage, wine consultancy and other wine related concerns, e-mail the author at wineprotege@gmail.com, or check his wine training website https://thewinetrainingcamp.wordpress.com/services

Attracting drinkers with music and low-alcohol brandy

Alfie Alley graffiti wall was unveiled during the program.

ALFONSO Brandy drinkers trooped to Katipunan’s Pop Up, one of the city’s hives for (very) young adults to watch bands like SSUT, Hulu, John Roa, I Belong To The Zoo, and Urbandub on Saturday in an event called “Alfie Alley”.

Last year, The Keepers Holdings, Inc. (TKHI) acquired 50% of Alfonso Brandy manufacturer Bodegas Williams & Humbert, SA. TKHI owns the subsidiaries Montosco, Inc., which had distributed the brandy in the Philippines for over 20 years, and products from spirits giant Diageo; as well as Premier Wine and Spirits, Inc., and Meritus Prime Distributions, Inc. All of these are under the umbrella of Lucio Co’s Cosco Capital, Inc., which owns the Puregold supermarkets.

Lauren Tanganco, Sales and Marketing Director at Montosco, Inc., told BusinessWorld at the sidelines of the concert, “It’s a strategic move for a long-term partnership between the two companies, and also cements our company’s position, and it secures the lifeline of their biggest flagship brand —  which is Alfonso Brandy. We move from [being] a distribution company, to now, a manufacturing company. Because of that move, we can further expand.”

In 2019, the IWSR Drinks Market Analysis listed Alfonso Brandy as number 32 on the list of the world’s fastest-growing spirits, with a 49.9% change from 2017 to 2018 in Absolute Volume Growth. (For another touch of #pinoypride, LT Group’s Tanduay Rum ranked No. 6). In 2021, IWSR also rated the Philippines as the world’s second-largest brandy market, behind India and ahead of Russia and the United States.

Alfonso Brandy is fast becoming a staple on some tables, displacing more established brands. “At the core is the product. The product is really what makes the difference. We use the finest grapes from La Mancha,” said Ms. Tanganco who added that their popularity started with the release of Alfonso Light, which has an alcohol content of 25% (the concentration of alcohol in a regular brandy ranges from 35% to 60%). “The big win was coming up with a low-alcohol brandy. That really spurred the growth of Alfonso in the market,” she said.

“If you have a lower alcohol content, they can enjoy it more. They can savor the experience,” she said. “If it has a higher alcohol content, they’d have to mix it… with a 25% alcohol content, they’re able to extend; they’re able to enjoy.”

The Alfie Alley party series will make stops in Tagaytay and La Union on May 20 and 27. —  Joseph L. Garcia

BayaniPay, two property developers team up to offer payment service

GLOBAL payment solution platform BayaniPay, powered by BDO Unibank, Inc., has partnered with SM Development Corp. (SMDC) and Ortigas Land Corp. in pioneering real estate payment service.

“These partnerships allow us to plug the gap in cross-border payments for the real estate investment market worth P1 trillion,” BayaniPay Chief Executive Officer Winston L. Damarillo said during a press conference on Wednesday.

“Right now, we have SMDC and Ortigas Land. We are starting with the top five [developers], we have already signed with them,” Mr. Damarillo said.

The payment platform unveiled its bills payment services, which will allow overseas Filipinos to manage and make direct payments of bills, services, and investments in the Philippines while enjoying zero fees and “market-leading” rates.

At its launch, the BayaniPay service is available to overseas Filipino workers in the US, which is the first market of the payment platform. According to Mr. Damarillo, BayaniPay’s next markets would be Canada and Japan.

Mr. Damarillo said property developers will benefit from the new payment service as it will dramatically lower costs for buyers and ease transactions with the help of the financial technology’s automated services.

He added that BayaniPay’s services will allow property developers to connect with their customers overseas, which will make transactions easier.

Under the real estate category of BayaniPay’s “bills pay,” developers will be able to collect, automate, and reconcile payments with ease through a custom dashboard.

“Our partnership with BayaniPay bolsters our continuing effort to provide value to Filipinos in the US and help them experience living the good life,” SMDC President Jose Mari H. Banzon said in a statement.

Ortigas Land International Marketing Director Arles Montefalcon II said that the partnership will “leverage new technologies to provide customers in the US greater value for their investments.”

BayaniPay together with BDO’s global remittance service brand, BDO Remit, is targeting to expand the platform’s services to cater to other segments.

“We started with homes and then next will be education and then healthcare, before the end of the year [all of these will be available],” Mr. Damarillo said.

“True to our mission of finding ways to help our overseas Filipinos achieve their dreams of a better life for their families, BDO Remit is proud to be part of BayaniPay’s efforts to make digital financial services truly inclusive for our kababayans,” said Geneva T. Gloria, senior vice president and head of BDO Remit.

In the next two years, BayaniPay is targeting to have 100,000 users. At present the company has around 10,000 users, making it the biggest agent of BDO in less than a year.

BayaniPay, Inc. is a fintech company based in Los Angeles, California. It is a collaboration among Talino Venture Labs, The Asian Journal, US-based East West Bank, and Wavemaker Partners. It is an authorized agent of BDO. — Justine Irish D. Tabile

Filipino fintech app users say security is as important as user experience, features

TRUSTPAIR.COM

A RESILIENT economy bolstered by robust fundamentals and a potential rebound make 2023 a good year for Filipinos to build and diversify their investment portfolios, according to local market analysts.

This bullish outlook, coupled with financial technology (fintech) and trading and investment apps that make buying and selling stocks and trading currencies easier than ever, are reasons to be optimistic.

The Filipino digital wave is surging on the back of 168.3-million cellular mobile connections (144.5% of the population). Research also revealed that 76.7% of local consumers increased their mobile app use over the past 12 months, with e-wallet adoption and usage on the rise.

Filipinos have also embraced crypto. The Philippines is the second-ranked country in the 2022 Global Crypto Adoption Index released by blockchain analysis firm, Chainalysis, which tracks the most active cryptocurrency nations. Many Filipinos are also drawn towards digital tokens through blockchain games like Axie Infinity, with up to 40% of players coming from the Philippines at one stage.

Most Filipinos likewise have high expectations when it comes to mobile app security, according to Appdome’s recent survey. Many rank security as important as a great user experience. They have good reason to demand the best because studies show that 77% of financial apps have at least one vulnerability. By exploiting weaknesses, hackers can break through encrypted apps to access payment data. So, whether you are a digital investor or an investment app developer, here are some of the common security threats to be aware of today:

1. FAKE APPS

Fake financial services apps are a big threat. One app masquerading as an Asian trading company targeted social media and dating site users, and when they opened the app and inputted financial data, this triggered a fund transfer to cybercriminals. As most fake apps are published through a “Super Signature process‚” — bypassing security protections — anti-tampering solutions are recommended to deter hackers. Mobile Piracy Prevention, meanwhile, ensures that Android and iOS apps will not be copied or become Trojan apps when they are published in an app store.

2. OVERLAY ATTACKS

Malware such as Xenomorph and Sharkbot use overlay attacks. This is when a fake screen or a window controlled by an attacker is placed on top of a legitimate application to trick users into revealing data. In a nutshell, malicious overlays are designed to mimic the original user interface of the app being targeted and can appear in the form of a button or a data entry field. It’s worth noting that blocking overlay attacks is required by law and regulators in many countries.

3. JAILBREAK AND ROOTING THREATS 

Private keys are the security essentials in crypto and decentralized finance. Stolen private keys allow hackers to steal from investors. While custodial wallets were provided to help investors manage their private keys, other offerings enabling users to self-manage their private keys have been introduced. These have risks as many crypto novices lack the expertise to manage a key.

Securing devices is also vital. Hackers can steal private keys and confidential information, and the risk is raised on a jailbroken or rooted device, when the original security protocols of a device are compromised, allowing attackers to control operating systems and payment and investment apps. Tools to block Magisk and detect jailbreak bypass tools such as Liberty Lite are highly recommended.

4. WEAK ENCRYPTION

Looking at the top five attacks on investment apps, several were found to use an unencrypted SQL lite database in their Android app, which makes them vulnerable. Unencrypted data in the application sandbox or SD card in areas like NSUserDefaults or the clipboard are common channels targeted. Given this, data at rest encryption is recommended to protect data inside these areas. Hackers also target transactions, passwords, and passphrases, and enforcing SSL/TLS for communications, including minimum TLS version, and cipher suites are good protective measures.

5. DYNAMIC RUNTIME ATTACKS

Modified investment apps equipped with emulators, simulators, or on-device malware can be used to create fake accounts, perform malicious trades, and transfer cryptocurrency from one app to another. Implementing runtime application self-protection (RASP) methods, particularly anti-tampering, anti-debugging, and preventing emulators, is a way to guard against this.

Hackers constantly look for “easy marks‚” and if your app is missing one or two security features, scammers will exploit the defensive weakness. Investment app developers, therefore, must keep providing great services, as well as security to address new threats. It is a tough balancing act, but one that is nonnegotiable.

 

Jan Sysmans is the Mobile App Security Evangelist at Appdome.

Quiche la reine? King Charles picks ‘Coronation Quiche’ to crown celebrations

YOUTUBE/@THEROYALFAMILYCHANNEL

LONDON — Britain’s King Charles and his wife Camilla have picked a recipe for “Coronation Quiche” for celebrations to be held next month when they are crowned, Buckingham Palace said on Monday.

The dish, featuring spinach, broad beans, and tarragon, is a nod to Coronation Chicken, a curry and mayonnaise-based dish which was invented for the 1953 coronation of Charles’ mother Queen Elizabeth II that is still enjoyed today.

The palace said on its website that the dish had been chosen personally by Charles and Camilla, the queen consort, and was “easily adapted to different tastes and preferences,” presenting it as a recipe for hundreds of community lunches planned across Britain to mark the May 6 event. (The recipe is available here: The Coronation Quiche | The Royal Family.)

Charles will be crowned at London’s Westminster Abbey in a ceremony resplendent with pomp and pageantry, with traditions dating back 1,000 years, in an event attended by foreign heads of state and dignitaries.

“A deep quiche with a crisp, light pastry case and delicate flavors of spinach, broad beans and fresh tarragon. Eat hot or cold with a green salad and boiled new potatoes,” said the recipe on the royal family’s website, which accompanied a video clip featuring a royal chef preparing the dish.

The palace has been slowly releasing details of the coronation, which is set to be smaller in its scale than that of Elizabeth, partly reflecting the modern age and the cost-of-living crisis. — Reuters

DMCI Holdings, Inc. to hold annual stockholders’ meeting virtually on May 17

 


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