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Why airline food is bland and what it takes to counter this

PAN-FRIED Snapper

FOR decades airline food has been the easy butt of jokes for its blandness. Its status can be explained by science: in a 2011 article from the Fraunhofer Institute for Building Physics IBP in Holzkirchen, the research institute tested in-flight menus from Germany’s Lufthansa AG. Aroma chemist Dr. Andrea Burdack-Freitag explained that up in the air, “Food and drink tastes as it does when we have a cold.”

According to the study, “salt is perceived to be between 20% and 30% less intense and sugar 15% to 20% less intense.” The reasons given for this reduction in taste include reduced pressure in the aircraft affecting a person’s body: “oxygen saturation in the blood is reduced, thus also reducing the effectiveness of the olfactory and taste receptors,” it said. Psychological effects from being up in the air in an unfamiliar environment can also affect taste: “In the unfamiliar environment of the aircraft cabin, people are more exposed to basic stimuli and less likely to notice details. This pushes up stimulus thresholds, with the result that a stronger stimulus is required to trigger a response,” the study said.

Thankfully, media guests to a tasting by Philippine Airlines (PAL) had their feet on the ground during Nov. 16 in Parañaque’s Bamba Bistro, helmed by chef Tina Legarda. Ms. Legarda had been chosen by PAL to create the in-flight menu for its nonstop flights to the US and Canada.

The menu has been available to Business Class passengers since November, and will appear on Business Class tables until the end of the year.

BusinessWorld tucked in to the amuses bouches of The Filly and Maria’s Toast (slow-cooked duck adobo, scallion cream, and torched lychee flambéed in Tanduay Rhum; then homemade longanisa [sausage], guava jam, salted egg cream, arugula, and shallots — both on toasted baguettes). Most everybody loved the comforting Kalabasa Soup (pumpkin soup), made with lemon gremolata and candied pili nuts. There was a Luzviminda Salad with Romaine lettuce, red onions, ricotta, and lychee vinaigrette, while exotic tastes were sated with a Crab Mie Goreng on an egg roll with green onions. The Breakfast Burrito was chicken inasal (barbeque) served mile-high, with scrambled eggs, java rice, lettuce, salsa, and hash browns.

Our favorites included the pan-fried snapper with whipped potatoes, a roasted garlic butter sauce, lemon chimichurri, and steamed asparagus — this course made us truly feel like a jetsetter from the golden age of flying. There was a Nasi ng Bayan, again recalling the inasal with a coffee and annatto sauce, served with coconut rice, peanut paste, and a tangy pineapple salsa.

The savories ended with Boeuf Short Ribs, a creamy offering with Dijon demiglace cream, mushrooms, asparagus, and whipped potatoes.

One could round out the meal on a plane with a Banana Budino Trifle, with banana cake, natillas (custard), caramelized bananas, chocolate ganache, whipped cream, and walnuts.

Not included during our tasting, but still on the menu, were a Gyu-silog (beef in sesame butter and fried rice), and Bangus Inasal (milk fish with banana fried rice).

Ethel Francisco, PAL’s AVP for Products and Services Management, spoke about the reasons for choosing Ms. Legarda as a partner. “The balance is so good. Her flavor profile is vibrant.” Needed when one considers how flying affects the experience of taste.

“It’s very different serving food down here. Salt levels lessen when you’re up there,” Ms. Legarda said of some of the difficulties she encountered while making the menu.

Ms. Francisco talked about how food gets on the plane: “With PAL, and I guess, all full-service carriers, we do work with caterers, who do this for us. We’re talking about multiple stations: The Philippines, LA, etc.” Ms. Legarda doesn’t prepare the food herself, but instead teaches these caterers how to replicate the recipes for mass-production.

“Our kitchen would prepare hot food 48 hours before the flight. Cold food, 24 hours,” said Maria Criselda Rayos, PAL’s AVP for Catering Operations, as she took BusinessWorld on a step-by-step explanation on how food gets from the kitchen to a flight.  “After preparation, it has to go through a cold soaking, as we call it. It stays in a holding room, where the temperature is kept at 5°C. Two hours before the flight, all of this food is gathered, assembled, and brought to the aircraft.”

A lot of the work developing recipes for in-flight food is devoted to stress-testing. Will the food still taste good after being held in the cold? Will it still be palatable after reheating in the plane’s galley oven? “Did the sauce collapse, or harden?” said Ms. Rayos. After these tests, the recipe is tweaked again and again until it gets to a quality fit to serve up in the air.

As cited in the study above, psychology plays a role in how food tastes aboard a plane. They say that the journey matters more than the destination — when it comes to airline food, it might ring true. “In an aircraft, you’re left with nothing to do,” said Ms. Rayos. “Food is a diversion.”

“It separates you from that feeling of fear and nervousness,” she said. “Once a passenger is inside the aircraft, and you give him food — food is everything to him.” — Joseph L. Garcia

Clear rules and transparency seen to improve PPPs

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CLARITY of rules, transparency of the process, and clear role designations are seen to help in improving public-private partnerships (PPPs) and entice more private companies to collaborate in various infrastructure projects.

“We have already established the basic foundation of policies on having an effective PPP program and I think this administration can build on that and improve on it,” said Aboitiz InfraCapital, Inc. President and Chief Executive Officer Cosette V. Canilao said during the BusinessWorld Economic Forum on Tuesday.

When asked about what she wished would be improved in the program, she said: “clear rules, feasibility and transparency on the PPP process, and clarity on the institutional roles of government agencies that are involved in PPPs.”

Ms. Canilao led the country’s PPP program in a past administration.

According to Ms. Canilao, existing rules that cover contracts such as the Build-Operate-Transfer Law and the various PPP codes of the local government units are just tools to get the private sector’s involvement in various government-initiated projects.

Through PPP contracts, the private sector can provide capital, innovation, and talent that can help in addressing the infrastructure requirements of the country, she said.

Ms. Canilao said she wishes that the private sector and the government will hold the promise of following through on the commitment and obligations written under the contracts.

“PPPs are given a bad name when the private sector is not mindful of their commitment under the contract,” Ms. Canilao said.

“We need to be able to really assure that the services are met and that you’re able to address the issues of the communities during pre-construction, during construction, and during operations,” she added.

Ms. Canilao also said that there should be constant and frequent consultations between the government and the various private sector participants such as lenders, investors, insurance providers, and construction companies.

“The government acts as a regulator more than a facilitator in delivering the service. Challenges when they come, will not be solved if there is no open and frank discussions,” Ms. Canilao said.

“Infrastructure now has a broader meaning. It’s not only the traditional infrastructure like we know, like roads and bridges, but also social infrastructure such as health, education, even agriculture and the new emerging infrastructure such as IT, digital and even tech-based services,” she said.

According to Ms. Canilao, the enumerated types of infrastructure can be rolled out through PPPs wherein the private sector can be involved. — Justine Irish D. Tabile

Wine-loving France gets a taste for the alcohol-free

PHOTO FROM LE-PAON-QUI-BOIT.ODOO.COM

PARIS — When a pandemic lockdown kept the French indoors in 2020, Augustin Laborde decided to give up wine but struggled in Paris to find a non-alcoholic alternative.

Two years later, Mr. Laborde has opened what he says is the first alcohol-free wine store in a country renowned the world over for its Bordeaux red wines and white Burgundies.

“We’re responding to very strong demand,” he said. “We’re already receiving proposals to open similar shops elsewhere in France.”

France, where vineyards cover the landscape from the Jura mountains in the east to the foothills of the Pyrenees in the southwest, is the second largest consumer of wine, behind only the United States, 2021 figures from the International Organization of Vine and Wine show.

While non-alcoholic drinks have gained popularity elsewhere, they have lagged in France.

The country’s consumption of non-alcoholic wine grew by 4% in 2021, compared with growth of 24% worldwide, consultancy group IWSR Drinks Market Analysis found.

But even in France attitudes are changing as alcohol awareness campaigns highlight its health risks and well-being trends gain traction.

“We see a strong interest for low-alcohol and no-alcohol beverages” alcohol addiction researcher Mickael Naassila told Reuters. “People are more concerned about their health.”

Customers in Augustin Laborde’s shop, Le Paon qui boit (The Drinking Peacock), echoed that view.

As she tasted a glass of alcohol-free red wine, Helene Bourgy said the drink was a compromise that allowed for an alcohol-free but still “festive atmosphere.”

Even if the French have been slow to take up non-alcoholic drinks, their wine consumption has fallen from 20th-century peaks.

It dropped from over 20 liters of alcoholic drinks sold per inhabitant in 1961, to 5.6 liters in 2020, according the French Observatory of drugs and addictive tendencies (OFDT).

While the French are drinking less in quantity, they are favoring quality, Mr. Naassila said, as the country’s love of wine is deeply rooted.

“(French people) realize that they have to decrease their level of consumption,” he says. “They still love gastronomy and I am sure they will continue to drink.” — Reuters

ICTSI plans to revive Iloilo port development proposal

LISTED port operator International Container Terminal Services, Inc. (ICTSI) said it plans to revive its proposal to develop and operate the Iloilo Commercial Port Complex as part of its goal to help the government in improving the country’s port network.

“We want to push that again, for sure,” ICTSI Executive Vice-President and Chief Risk Officer Christian Razon Gonzales told BusinessWorld in a recent interview.

“We’re waiting for guidance from the government whether it will be a public tender done by the Philippine Ports Authority or they will welcome an unsolicited proposal,” he added.

The company is also interested in developing ports in other regions, including in Mindanao.

“I think doing something in General Santos City would be interesting and, of course, all regions in the Philippines depending on what the government is going to push in terms of economic agenda for these regions,” Mr. Gonzales said.

“If we saw that as an opportunity to put a port there or to help develop a port there whether with national or local government, then why not” he added.

ICTSI, which is in the business of developing, operating and acquiring container terminals, was granted the unsolicited proposal for the development of the Iloilo commercial port complex in the previous administration.

The company had initially estimated an investment of over P5 billion to fully develop the Iloilo port complex. It had also proposed to develop the Port of Dumangas in the same province.

“Overall, the company hopes to be able to assist the port authority in its goals to upgrade the Philippine port network in the hope of facilitating inter-island and international cargo movement,” ICTSI said in a statement posted on its website.

“An integral part of this investment will include the dredging and deepening of the port itself and the channel to allow the direct entry of new generation, international vessels,” it added.

The United Nations Conference on Trade and Development said in its latest report that there is a need for increased investment in maritime supply chains, including ports, shipping fleets, and hinterland connections, to boost sustainability and prepare the country for future global crises.

The Philippines was one of many countries that experienced serious vessel delays and container shortages during the pandemic. — Arjay L. Balinbin

What makes American meat great

Whole Roast US Turkey

It’s all in the grain

IT’S NOT every day that the United States Ambassador to the Philippines opens up their house for a barbeque, so it was quite easy for us to say “yes” to their invitation for a Holiday Hoedown-themed Great American Barbeque trade reception on Nov. 17.

Ambassador MaryKay Carlson, a native of Arkansas, told media guests about her fond memories of her father barbequing brisket in the summer.

More than that though, she gave three reasons for the celebration in a speech. “The Philippines is the 7th-largest market in the world for US food and agricultural products,” she said. According to her, the US is also the number one supplier of agricultural products to the Philippines. Finally, “We are also your number one customer. Last year, we had record two-way trade in these goods, worth $4.6 billion.”

“When you see what these high-quality US products can become in the hands of skilled chefs — of which I am not one, but we’re glad that we have some tonight — you will recognize the power and the benefits of trade,” said Ms. Carlson.

The Great American Barbeque trade reception was sponsored by the US Department of Agriculture (USDA) Foreign Agricultural Service, in partnership with US trade associations and suppliers and Philippine companies.

One of the guest chefs that night was Jay McCarthy, a consultant chef for the Texas Beef Council, the Nebraska Beef Council, and the US Meat Export Federation. Included in the spread were turkey, pulled pork sliders, baby back ribs, slow-cooked US Beef Ribs (with Mr. McCarthy’s mushroom sauce and prime rib rub), and US Angus Hot Pastrami (from local caterers The Plaza). There was also a selection of American cheeses and wines.

Mr. McCarthy, speaking with BusinessWorld in the ambassador’s living room, discussed how US meat becomes that way: tender and flavorful (based on our experience, at least). “We have an abundance of corn and grain, which isn’t available around the rest of the world. That’s what really influences raising all the pigs and the cows. Ultimately, it’s the fat, where the flavor is. All that energy, those high-energy diets go into finishing the product so that it has that richness.”

Other countries might boast that their livestock is fed on grass, but Mr. McCarthy makes a case for seasonal changes that might affect how the meat will taste like. Cattle may be fed first on fresh spring grass, for example, but, “As the seasons change, and that grass dries out towards the end of the season, there’s less energy, less protein available for the animal to eat. That’s going to change the flavor of the fat. That creates an inconsistency.”

For his part, Mr. McCarthy likes using tougher cuts like briskets and flank steaks and sees them as a challenge. “Anyone can cook a steak on a grill. But if you want to cook a brisket, or something else, you have got to pay a little attention.”

Mr. McCarthy’s work that night wouldn’t have been complete without the various hands that made the meat itself: the animal, of course, but also the various farmers and other players in the US meat industry. Asked what meat says about the American people, Mr. McCarthy said, “I think US agriculture, US meat… or whatever (product) it is, speaks a lot to what America can do to feed the world.” — JL Garcia

AboitizPower turns on battery energy storage system in Davao de Oro

ABOITIZ Power Corp. (AboitizPower) announced on Wednesday that its unit’s 49-megawatts (MW) battery energy storage system (BESS) in Maco, Davao de Oro is now operational.

“AboitizPower sees battery technology as a great opportunity to address concerns about the reliability, affordability, and sustainability of energy supply,” Emmanuel V. Rubio, president and chief executive officer of AboitizPower, said in a media release.

AboitizPower, through its subsidiary Therma Marine, Inc., said that its BESS will support the Mindanao grid as it will “complement Therma’s existing diesel engine.”

It is intended for ancillary services or power reserves. Power grids tap reserve power, engaged via ancillary services contracts, when baseload power declines.

“We respond to the needs of our customers and communities while supporting economic growth by ensuring the stability of the grid,” Mr. Rubio said.

James A. Villaroman, chief renewable energy officer of AboitizPower, said during the BusinessWorld Economic Forum on Tuesday that energy storage systems will play a part in the country’s energy security.

“We’re looking at a couple of innovations to prioritize. It’s not yet really part of our goal but this storage will be critical to the energy transition. With a lot of variable renewable energy coming in, we need to address intermittency, storage needs to be part of that,” Mr. Villaroman said.

Meanwhile, renewable energy firm SN Aboitiz Power (SNAP), a joint venture between AboitizPower and SN Power of Norway, said that its 24-MW Magat BESS project at the hydroelectric power plant in Ramon, Isabela is seen operational by the first quarter of 2024, after it began construction in August.

AboitizPower is targeting to develop a total capacity of 248 MW for regulating and contingency reserves.

The power company also noted that while it has started to enter the battery market, its portfolio will be driven by renewable energy in the 10 years with an additional 3,700 MW of renewable energy.

AboitizPower is targeting to expand its Cleanergy, the company’s renewable brand in the Philippines and abroad to “help build the country’s renewable energy market and contribute to the global renewable energy goals.” — Ashley Erika O. Jose

Dining In/Out (12/01/22)


Mama Sita’s offers Christmas hampers

THIS year, Mama Sita’s has six Christmas hampers to choose from. The Budget Pack Bundle contains classic picks that offer great value (P300); the Everyday Cooking Basket is meant to help inspire home cooks with every day culinary items (P400); the Fiesta Collection is a gift of celebration dishes to make parties and gatherings merry and memorable (P500); the All-time Paborito Box puts together all-time favorite dishes (P500); the Lutong Bahay Package offers everyday cooking flavors (P650); and the Homestyle Bundle has a selection of favorite seasonings and spices (P1,000). The Christmas hampers are packaged in baskets styled to suit the season. The All-time Paborito Box comes in a specially printed Mama Sita’s Christmas box. There is a five-day lead time for orders to be prepared. The Christmas hampers shall be available up to Dec. 20. Orders made beyond this date will be delivered in January 2023. Special discounts include 7.5% off for orders of five hampers or more, and 10% off for orders at 10 or more sets. Each gift pack also comes with special cook booklets from Mama Sita’s — Homestyle Recipes, Everyday Recipes, and Easy Vegetarian Recipes. Interested gifters may contact R-J Quito at 0956-759-1507 or Joanna Tacdol at 0917-815-4565 or e-mail info@msita.com.


KFC’s Secret Menu is real and available

AFTER posts about the existence of a KFC Secret Menu made the rounds on social media groups, KFC has announced that the Secret Menu is real. The KFC Secret Menu is exclusively available when a customer orders via the KFC website or app and GLife, or calls their hotline at 887-8888. There are currently four main offerings in the Secret Menu: KFC Double Zinger, KFC Sloppy Shots, KFC Naked Twister, and KFC Colonel’s Belgian Bites. The Double Zinger features two Zinger patties in one spicy sandwich. The KFC Sloppy Shots features KFC’s signature fries drenched in Original Recipe gravy, and topped with corn and cheese. The Naked Twister is a deconstructed version that dispenses with the classic tortilla wrap to become a bowl of shots with veggies and special dressing. KFC’s Colonel’s Belgian Bites is a bucket of 12 bite-sized donuts filled with Belgian chocolate filling, and coated with chocolate.


Muji launches holiday drinks

JAPANESE lifestyle brand Muji has launched its first holiday drinks in the country. The new drinks are Ginger Cinnamon Latte, Peppermint Cafe Latte, Peppermint Mocha Latte, and Ichigo Lychee Earl Grey Iced Tea. All coffee-based drinks can be enjoyed as hot and cold drinks. Ginger Cinnamon Latte is an espresso-based drink with flavor hints of ginger and cinnamon, finished off with a dash of cinnamon powder on top. The Peppermint Cafe Latte is an espresso-based drink with milk and Muji’s signature mint flavored syrup. It also comes in another variant — Peppermint Mocha Latte, a refreshing blend of espresso, mint, and chocolate syrup. The last on the holiday line-up is the Ichigo Lychee Earl Grey Iced Tea, an Earl Grey tea based iced tea infused with strawberry and lychee sauces. These holiday drinks are available only until Jan. 15, 2023. To try these new drinks, customers may visit Muji’s Coffee Counter located inside Muji Central Square, BGC, Taguig.


Baked treats at Richmonde Hotel Ortigas

RICHMONDE Hotel Ortigas. Executive Chef Tristan Galang and his kitchen team have prepared baked treats and savory pies for holiday celebrations and gift-giving this season. There are Special Hotbox Platters packed in self-heating containers that are meant for sharing at home celebrations and potluck parties: Salmon en Croute (P2,800), Cottage Pie (P2,400), Shepherd’s Pie (P2,555), Chicken Pot Pie (P1,650), and Potatoes au Gratin (P1,620). For sweeter options, there are Richmonde’s Signature Moist Chocolate Cake (from P250), Flourless Chocolate Cake (from P515), and Red Velvet Cheesecake (from P395), all decked out with Christmas designs. Also available are fresh-from-the-oven breads — Banana Walnut Bread (P335), Creamy Spinach Baguette (P360), Cranberry Babka (P320), and Coffee Bun (P364/box of four). Or elevate toast with Richmonde’s Herbed Butter (P200) and Bacon Jam (P265) spreads. Richmonde’s signature year-round hits are still available for gifting: the Plain Ensaymada (P195) and Ube Ensaymada (P225). Two new variants, the Pork Floss Ensaymada (P250) and Alcapone Ensaymada (P275) are making their debut this season. There are also Mini-Ensaymadas in boxes of four pieces (Plain, P275; Ube, P315) and nine pieces (Plain, P600; Ube, P685). Christmas Hampers — filled with an assortment of Richmonde’s breads and homemade spreads and packed in an elegant see-through box — come in two sizes. The Box of Freshly Baked Bliss (P1,750) is good for three to five persons and contains one creamy spinach baguette, one braided rosemary loaf, two coffee buns, one mini pork floss ensaymada, one mini alcapone ensaymada, one jar of herbed butter, and one jar of bacon jam. The Hamper of Holiday Happiness (P2,250), on the other hand, is good for six to eight persons with bigger versions of the breads in the Box of Freshly Baked Bliss, plus a loaf of cranberry babka. The holiday goodies are on display at Richmonde Ortigas’ Lobby Café and the hotel’s official Facebook page which has the complete catalogue. Items are available for pickup and delivery until Jan. 8, 2023, with advance orders and prepayment. Lead time of at least 48 hours is required and bulk orders may be arranged. For inquiries and orders, call (632) 8638-7777, SMS or Viber 0917-534-4352, e-mail fbsup@richmondeortigas.com, or message @Richmonde Hotel Ortigas on Facebook and Instagram.


Mang Inasal has Christmas dine-in deals, party specials

FOR this month, grill restaurant Mang Inasal offers Ihaw-Sarap ChristmaSAYA Dine-In Deals plus more ChristmaSARAP meals that work for at-home, in-office, or outdoor parties. Dine at Mang Inasal stores nationwide from Dec. 1 to 31 and save P20 by ordering the Ihaw-Sarap ChristmaSAYA Dine-in Deals. Choose from either a Chicken Inasal Paa or Pecho combo, with both options served with unlimited rice, extra creamy halo-halo or crema de leche halo-halo, and a medium-sized drink. Meanwhile, the ChristmaSARAP meals are takeout and delivery options for group dining. There is the Mang Inasal Family Fiesta, a special bundled group meal composed of char-grilled favorites Chicken Inasal, Pork BBQ, or Grilled Liempo. Starting at P709 for takeout, you can choose from four different combos. Each bundle comes with a platter of Java rice, toyomansi, chili, chicken oil, plus peanut sauce for the Pork BBQ. Perfect for big group parties are Mang Inasal’s Siksik sa Sahog, Siksik sa Sarap Palabok, extra creamy halo-halo, and crema de leche halo-halo that is made special with leche flan, macapuno, and caramelized banana. Delivery orders can be made via the Mang Inasal Delivery App, http://manginasaldelivery.com.ph/, GrabFood, or foodpanda.

AUB, Alipay+ plan e-wallet for cross-border payments

FREEPIK

ASIA United Bank Corp. (AUB) has partnered with Alipay+ to enable the bank’s e-wallet, HelloMoney, for cross-border transactions and to provide an efficient payment experience for users whenever they go out of the country.

In a statement on Wednesday, AUB said the move makes it the first Philippine lender with an e-wallet that can be used overseas. HelloMoney will be made acceptable first in South Korea and Japan through the partnership. It will allow users to pay merchants that accept Alipay+.

AUB Executive Vice-President and IT & Operations Group Head Wilfredo Rodriguez, Jr. said that through the years, the bank has been building a “digital arsenal” of “pioneering initiatives and innovations.”

He said the bank’s end-to-end digital account opening enables clients to make banking easy through their mobile phones while allowing merchants to sustain their businesses as seen during the pandemic’s restricted mobility.

“With Alipay+’s global presence through its integration with local merchants worldwide, our HelloMoney users will have a wider reach in payment acceptance while ensuring a safe and secure digital transaction,” Mr. Rodriguez said.

About a million HelloMoney users would also be able to take advantage of more competitive exchange rates compared with prevailing market rates, the lender said.

As of October 2022, HelloMoney booked double-digit growth in transactions, rising by 45% to 19 million from last year. The value of transactions reached P63 billion or 49% higher than in 2021.

“AUB has been a long-term partner to Ant Group, and we are excited to extend the partnership further to enable its e-wallet’s cross-border operations through Alipay+,” Alipay+ Global Partnerships, Ant Group General Manager Jia Hang said.

Introduced by Ant Group, Alipay+ was designed to enable businesses to process a wide range of payment transactions and better serve regional and global clients.

“Despite it being a relatively young e-wallet, HelloMoney has garnered strong growth and adoption momentum among users. Through this partnership, users of HelloMoney can rely on the e-wallet when they travel overseas, too, without the hassle of carrying cash or change currencies,” Mr. Hang said.

AUB launched HelloMoney to let users digitally perform bank-to-bank fund transfers, buy prepaid load, remit money through PeraPadala, and transact using HelloMoney’s own virtual Mastercard.

The launch was followed by the release of Hello Pag-IBIG, the companion mobile app to the Pag-IBIG Loyalty Card Plus. In 2021, AUB introduced the HelloMoney Mastercard for online shopping.

AUB and its subsidiaries booked a net income of P1.7 billion in the third quarter, 70% higher than the P998.3 million booked in the same period in 2021, amid higher earnings from its core businesses.

This brought the group’s nine-month net profit to P4.6 billion, up 57% from the P2.9 billion a year prior, which it noted already surpassed its pre-pandemic performance.

The bank’s shares declined by 1.23% or 55 centavos to close at P40 apiece on Tuesday. — Keisha B. Ta-asan

Globe’s 917Ventures, Ayala Corp. to bring Taiwanese electric vehicles to PHL

BW FILE PHOTO

GLOBE TELECOM, Inc. announced on Wednesday that its corporate venture builder, 917Ventures, and Ayala Corp. will soon bring Taiwan-based electric scooter and battery swapping system provider Gogoro to the Philippines.

The goal is to “reduce the use of fossil fuel by the country’s logistics industry,” Globe said in an e-mailed statement.

Globe said Ayala, 917Ventures, and Gogoro plan to pilot the program in the first quarter of 2023.

“Gogoro’s Smartscooters will serve as an eco-friendly alternative to fossil fuel-powered vehicles currently used by the logistics and last-mile delivery industry,” Globe said.

There will be battery swapping stations for Gogoro’s two-wheel electric vehicles (EV).

“Users can quickly swap depleted batteries for fully-charged ones in seconds,” Globe noted.

The logistics industry is known to release significantly more emissions per vehicle per day than consumer riding, according to 917Ventures.

“We are committed to help address the climate crisis by introducing Gogoro to logistics businesses, helping them in their sustainability efforts,” 917Ventures Managing Director Vince T. Yamat said.

“In addition, because of the Swap & Go technology that enables riders to be fully charged in just seconds, we hope Gogoro will also help address hesitations surrounding charging electric vehicles and even finding parking slots. Hopefully, this technology will encourage more Filipinos to switch to EV,” he added.

For his part, Jaime Alfonso Zobel de Ayala, Ayala Corp.’s head of business development and innovation, said: “Ayala supports the Department of Energy’s thrust to transition towards cleaner technologies. We are excited to contribute to a high-quality consortium focused on enhancing mobility through sustainable solutions, which aligns with our broader decarbonization and digital transformation ambitions.”

Gogoro has more than 11,000 battery swapping stations at more than 2,260 locations in Taiwan. Its network has more than 520,000 riders who perform more than 370,000 battery swaps per day, according to Globe.

“With over one million batteries in circulation, the number of GoStations has already surpassed the number of gas stations in Taiwan’s major cities, making Gogoro battery swapping the de facto standard for electric two-wheel refueling in Taiwan,” Globe noted. — Arjay L. Balinbin

Thais fill steel vats and huge boxes in bottomless popcorn challenge

A WOMAN carries a bucket containing popcorn during a campaign ‘all you can eat popcorn for 199 baht ($5.60)’ in front of a cinema inside a department store in Bangkok, Thailand, Nov. 28. — REUTERS/ATHIT PERAWONGMETHA

BANGKOK — Dozens of Thais showed up with steel vats, cardboard boxes, and all sizes of plastic containers to a mall in central Bangkok on Monday, after a cinema offered “all you can eat” popcorn for 199 baht ($5.60).

Pipat Lorsubkong, 39, said he was taking home about 57 liters worth of the salty snack in a huge buffet-style dish as he took part in the stunt to challenge customers to come up with quirky container ideas.

“I’m planning to share it with my family and friends,” the investment expert said, as cinema workers shoveled the popcorn into buckets and boxes.

For what would have been the price of a ticket to the movies, customers also got bottomless soda refills to help slake what many expected would be a vengeful thirst from eating all that popcorn. — Reuters

PHL banks must modernize operations amid digital shift

STOCK PHOTO | Image by Katemangostar from Freepik

TRADITIONAL Philippine banks must modernize their operations to keep up with the increasing digitalization of the sector, an official of a financial technology (fintech) company said on Tuesday.

“They (banks) need to do it yesterday. But it is a journey. If they do not start now … other fintechs will be able to provide services that they are not able to provide,” Finastra Technology, Inc. Managing Director for Asia-Pacific Payments Tal Weiser said in a briefing.

Headquartered in London, Finastra provides financial software solutions and systems for retail and wholesale banking, treasury and capital markets, and risk management. It has been operating in the Philippines for 30 years.

Mr. Weiser said fintech companies are more customer-centric, accessible, and offer specialized services than traditional banks. They do not use the legacy systems traditional banks use, which he said which are decades old, mainframe-based platforms.

To modernize their operations and increase efficiency, banks should consider collaborating with fintech companies, especially those offering cashless payments like e-wallet apps GCash or Maya, Mr. Weiser said.

“If banks want to protect their revenues, they will need to invest in payment modernization instead of competing with fintechs. They need to collaborate,” he said.

“I think every bank, which is in a different stage of their modernization program, has to carefully re-evaluate their payments modernization strategy. What kind of service are they serving? What customers are they serving? What do they want to achieve from their payments business? Most banks are using the legacy system for payments, so they have to look at how to modernize their program,” Dheeraj Joshi, Finastra Asia-Pacific regional head for payments solutions consulting, said in the same briefing.

Mr. Weiser said the industry is making progress, with some banks already shifting to cloud systems.

“The industry now is investing a lot in order to be more efficient. All the banks need to invest now … due to the competition. There is a transition in the way we do business,” he added.

The Finastra officials also noted how the country’s banking regulator, the Bangko Sentral ng Pilipinas (BSP), is working towards improving the payment system infrastructure in the country amid increasing digitalization.

The BSP wants to digitize at least 50% of the volume and value of total retail payments by 2023 as part of its financial inclusion efforts.

Online payments made up 30.3% of the total volume of retail transactions in 2021, and the value of payments done online represented 44.1% of total transactions last year. — A.M.C. Sy

BSP to release banknotes with signatures of Marcos, Medalla

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THE BANGKO SENTRAL ng Pilipinas (BSP) is looking to release banknotes bearing the signatures of President Ferdinand R. Marcos, Jr. and central bank chief Felipe M. Medalla.

The new banknotes will be presented by the central bank to Malacañang in the first or second week of December, Mr. Medalla said on the sidelines of the BSP’s Stakeholders Appreciation ceremony on Tuesday evening.

These will be under the New Generation Currency (NGC) series of the central bank. The series has been the designated money for general circulation in denominations of P20, P50, P100, P200, P500, and P1,000.

In 2020, the BSP launched the enhanced NGC banknotes featuring the latest anti-counterfeiting technology. It also aimed to help the elderly and the visually impaired.

Mr. Marcos won the presidency in the May elections and assumed office on June 30. Mr. Medalla became the central bank governor as appointed by Mr. Marcos, replacing former BSP chief Benjamin E. Diokno, who now heads the Department of Finance.

The local currency has been bearing the signatures of the Philippine president and the central bank governor since 1949.

Meanwhile, the BSP is also circulating 500 million pieces of P1,000 polymer banknotes in phases until June 2023.

The limited circulation test is meant to assess if the benefits reaped by other countries from using polymer bills will also be seen in the local setting.

According to the central bank, the new banknote is cleaner, and stronger than the current paper banknotes and can boost efforts against counterfeiting. — Keisha B. Ta-asan