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Web security is an investment small business owners cannot afford to overlook

By Patricia Mirasol

With digital tools at their fingertips, one in three employed Filipinos have started side hustles due to the pandemic, as per data from GoDaddy, a global domain registrar and web hosting company. It offered cyber hygiene tips for the three-fourths of small and medium businesses that its data also confirmed do not know how to protect themselves against cyberthreats. 

“The moment [your business] goes online is the moment you need to invest in security,” said Norman L. Barrientos, GoDaddy’s director of marketing for Southeast Asia. Bad actors, he told the audience of a Dec. 9 event on the topic, do not discriminate in terms of what type of business you have. 

“Invest in your business the same way you invest in yourself. Security is one way to do so,” Mr. Barrientos said. 

In May 2020, 9,692 new business names were registered under internet retail –– nearly 450% higher than the January to mid-March registrations. COVID-19 triggered the acceleration of e-commerce, and also of a rising cybercrime economy. 

Business owners are cognizant of that fact, with GoDaddy’s 2021 website security survey finding that a majority of its customers believe phishing (90%) and malware (91%) pose the biggest threats to small businesses. The former is a social engineering scam that tricks individuals into sharing sensitive data. The latter is a malicious type of software designed to harm a device or network. 

Among the results of an online business falling prey to hackers is loss of revenue and damage to reputation, said Jade Christian S. Tamboon, a guide at GoDaddy. 

“The holiday season is not the time to have a security breach,” Mr. Tamboon said at the Dec. 9 event. “Let’s prepare ourselves.” 

For the 78% of business owners the aforementioned survey found to have also researched website protection solutions, Mr. Tamboon offered the following recommendations: 

  •  Password security – the longer the password, the better. Non-English words also work, since malware will always use words from major languages first when cracking codes. To protect the rest of an individual’s accounts in case one gets compromised, different passwords should be used for different accounts.  
  • Two-factor authentication – an extra layer of protection, beyond a password, that ensures that only one individual can successfully log in a specific account. This additional verification step could be done through a fingerprint scan, or a one-time code sent to a registered mobile number.
  • SSL and encryption – a SSL (or secure socket layer) certification that authenticates a website’s identity, enables an encrypted connection, and establishes trust among customers because of visual cues, like a green padlock, that connote website security. 
  • Firewall and backup services – a firewall helps block malware by filtering incoming and outgoing network traffic, whereas backup services get a site up and running again because all the important data has been saved. 
  • Social media accounts – be circumspect about logging in on websites through social media accounts. Websites that have access to one’s social media accounts have access to one’s personal data and, by extension, one’s customers’ data. 

“Update your passwords and software periodically,” Mr. Tamboon added. “It’s harder to open the door if the lock keeps on changing.”

Head of U.S. Senate panel asks regulator to probe Facebook’s ad practices

REUTERS

WASHINGTON – The chair of the U.S. Senate Commerce Committee on Wednesday asked a regulator to investigate whether Meta Platforms’ Facebook misled its advertising customers and the public about the reach of its advertisements.

In a letter to Federal Trade Commission (FTC) Chair Lina Khan seen by Reuters, Senator Maria Cantwell said “evidence suggests that Facebook may have deceived its advertising customers about its brand safety and advertising metrics” and “may have engaged in deceptive practices.”

Meta and the FTC did not immediately comment.

Cantwell added that “public information suggests that Facebook’s potential misrepresentations about brand safety and advertising metrics may be unfair, as well as deceptive.”

She said “a thorough investigation by the Commission and other enforcement agencies is paramount, not only because Facebook and its executives may have violated federal law, but because members of the public and businesses are entitled to know the facts regarding Facebook’s conduct.”

Cantwell cited a 2020 Senate report that Facebook reportedly controlled approximately 74% of the social media market.

In October, Senator Richard Blumenthal said both the Securities and Exchange Commission and the FTC should investigate claims made by a Facebook whistleblower that the company knew its apps were harming the mental health of some young users.

The FTC has filed an antitrust lawsuit against Facebook that urged a court to demand that the company sell two big subsidiaries.

The FTC’s case against Facebook represents one of the biggest challenges the government has brought against a tech company in decades, and is being closely watched as Washington aims to tackle Big Tech’s extensive market power.

The FTC originally sued Facebook during the Trump administration, and its complaint was rejected by the court. It filed an amended complaint in August that Facebook has asked be tossed out. – Reuters

Crypto executives urge light touch as Congress mulls new regulation

REUTERS

Top executives from six major cryptocurrency companies including Coinbase and Circle on Wednesday urged Congress to provide clearer rules for the booming $3 trillion industry, but warned that overly tough restrictions would push it overseas.

The U.S. House of Representatives Financial Services Committee hearing marked the first time the industry’s senior leaders have explained their businesses to U.S. lawmakers amid growing concerns cryptocurrencies may pose systemic risks and hurt investors.

Crypto executives repeated calls for careful, bespoke rules rather than forcing the industry to comply with existing regulations.

“Without tailored legislative solutions that are openly debated with public participation, the United States risks unnecessarily onerous and chilling laws and regulations,” warned Alesia Haas, chief executive of Coinbase Inc.

Congress is unlikely to make new crypto rules anytime soon, according to analysts, and lawmakers treated the hearing primarily as a fact-finding exercise.

Democratic Representative Maxine Waters, who chairs the panel, said there are questions about proper oversight and singled out Facebook Inc’s stablecoin plans as a major concern given the company’s huge global reach.

Some lawmakers, in particular Republicans, praised the executives for leading the way on what could be a pivotal technology.

“I am tremendously impressed. I see a lot of ingenuity, a lot of entrepreneurial spirit,” said Representative Pete Sessions, a Texas Republican. “We need to be supportive of you.”

Circle CEO Jeremy Allaire, FTX Trading CEO Sam Bankman-Fried, Paxos CEO Chad Cascarilla, Stellar Development Foundation CEO Dennelle Dixon and BitFury head Brian Brooks also testified.

 

DIGITAL ASSETS

The rapid growth of cryptocurrencies and in particular stablecoins — digital assets pegged to traditional currencies — has caught the attention of regulators, who fear they could put the financial system at risk if not properly monitored.

Some policymakers, such as Senator Elizabeth Warren and Securities and Exchange Commission Chair Gary Gensler, are also concerned the products could be used for illicit purposes, or to take advantage of unsuspecting consumers.

In November, a U.S. Treasury-led working group recommended Congress pass a law specifying stablecoins should only be issued by companies that have insured deposits, like banks.

Executives said they would welcome regulatory clarity, which could help the industry expand, but that overly restrictive rules could prove counterproductive.

The rapid growth in the sector underscores there is strong investor appetite for digital assets and should be supported with clear rules rather than stifled, they said.

BitFury’s Brooks, who was formerly CEO of Binance’s U.S. business and before that a bank regulator, told lawmakers cryptocurrencies are similar to traditional assets.

“We are the last country standing that hasn’t figured that out,” he said.

But the complexity and volatility of cryptocurrencies, as well as wildly varying standards around disclosure, reserves, consumer protection and other policies left some lawmakers concerned.

“Most of the people that I know that have invested in cryptocurrencies (have done so)…because they think they can get rich quick,” said Representative Juan Vargas. “We’ve seen this before, unfortunately, and it led to the financial crisis.” – Reuters

Better.com CEO apologizes after laying off 900 employees via Zoom call

The chief executive of Better.com apologized for his manner of handling layoffs at the mortgage company after a video of him firing 900 people last week via a Zoom call went viral on social media.

Vishal Garg, who has come under intense criticism after the SoftBank-backed company laid off about 9% of its workforce through the video call, said he had “blundered the execution” of communicating the layoffs.

“I realize that the way I communicated this news made a difficult situation worse,” Garg said in a letter dated Tuesday.

The CEO had cited the market, performance and productivity as reasons behind the decision to lay off employees in the United States and India.

Better.com said in May it would go public through a merger with blank-check firm Aurora Acquisition Corp, in a deal that valued it at $7.7 billion.

Earlier this month, the terms were amended to provide Better.com with half of the $1.5 billion committed by SoftBank immediately, instead of waiting till deal close.

Founded in 2016 and headquartered in New York, Better.com offers mortgage and insurance products to homeowners through its online platform. – Reuters

Apple wins last-minute reprieve from App Store changes while ‘Fortnite’ appeal plays out

Apple Inc on Wednesday won a reprieve from having to make major changes to its lucrative App Store while it appeals an antitrust lawsuit brought by “Fortnite” creator Epic Games.

In September, a U.S. judge ordered Apple to change its App Store rules, which ban developers from including links in buttons to outside payment systems rather than using Apple‘s own in-app payments that charge a commission on sales. The injunction was set to go into effect at 12:01 a.m. Pacific Time on Thursday.

But with just slightly more than 12 hours remaining before the deadline, the U.S. Ninth Circuit Court of Appeals granted Apple‘s request to pause the order.

The appeals court order means Apple will not have to make the changes while it pursues a potentially years-long appeal of the Epic Games decision, which was largely favorable to the iPhone maker aside from the order to allow buttons to outside payment methods. The lower court did not find that Apple violated any antitrust laws, but said the company broke California’s unfair competition law by not allowing developers to tell consumers about alternative ways to pay for software.

“Apple has demonstrated, at minimum, that its appeal raises serious questions on the merits of the district court’s determination,” the 9th Circuit Court wrote on Wednesday.

Apple said that “our concern is that these changes would have created new privacy and security risks, and disrupted the user experience customers love about the App Store.”

Epic declined to comment on Wednesday.

Joel Mitnick, a partner at Cadwalader, Wickersham & Taft and a former U.S. Federal Trade Commission trial lawyer, said the 9th Circuit’s ruling gave few “tea leaves to decipher” about how the appeal will ultimately play out, but said the court is “signaling a serious concern” that the lower court found Apple violated California unfair competition laws but not federal antitrust laws.

He said the 9th circuit cited a previous case that held that conduct that does not violate antitrust laws cannot be the basis for a finding of unfairness under competition laws.

Randal Picker, a professor at the University of Chicago Law School, said Wednesday’s decision was “clearly good news for Apple. Good news in the short run in that they don’t have to implement changes to the App Store right now, and a hint that Apple may win in the Ninth Circuit when the case is considered fully on the merits.” – Reuters

Philippines’ Supreme Court says parts of anti-terror law unconstitutional

PHILIPPINE STAR/ MICHAEL VARCAS

The Philippines’ Supreme Court said on Thursday parts of a anti-terrorism law passed last year were unconstitutional, in a decision hailed by one of its opponents as a “partial victory”.

The controversial law, signed by Philippines President Rodrigo Duterte in July, 2020, has alarmed some lawyers and human rights activists who fear it could be used to suppress free speech and harass government opponents.

The law grants police and military sweeping powers to tackle security threats, but legal experts had warned its overly broad articles could open the door to discriminatory enforcement, privacy infringements and suppression of peaceful dissent.

A detailed breakdown of the court’s ruling was not immediately available.

The government had no immediate response to the decision. Panfilo Lacson, a senator and principal author of the legislation, in a Tweet prior to the ruling said he would graciously respect the outcome.

The court struck down a part of the law “for being overbroad and violative of freedom of expression”, it said in a statement.

Renato Reyes, secretary-general of the leftist Bayan (Nation) movement said: “Our main win from the SC ruling on the terror law is that activism is not terrorism. That is a partial victory for petitioners as protests and advocacy are not acts of terror.”

But, he said, “the dangerous provisions of the terror law remain and can still be abused by the anti-terror council”. — Reuters

Gov’t seeks P300-B loan from BSP

THE PHILIPPINE government will be asking the central bank for P300 billion in liquidity support next year, less than the previous loan after the country’s economic outlook improved, the Finance chief said.

In a letter to the Bangko Sentral ng Pilipinas (BSP), Finance Secretary Carlos G. Dominguez III said the government would make the request as a provisional advance in the second week of January.

Compared with the previous P540-billion debt, he said the reduced amount signals “that we are on track with the unwinding of liquidity support on firmer evidence of a return to economic strength.”

The Department of Finance (DoF) in a press release on Wednesday said it plans to repay the outstanding P540 billion this week, ahead of the Jan. 12 maturity date.

“The extension of provisional advances is a temporary arrangement between the BSP and the National Government to provide the government access to ample cash resources while revenue generation is weakened,” the DoF said.

Provisional advances are also done while the borrowing program faces a larger need and unpredictable financial markets, it added.

Republic Act No. 7653 or The New Central Bank Act allows the BSP to make direct provisional advances with or without interest to the National Government. These must usually be repaid in three months, but can be extended for another three.

An initial advance in the form of a P300-billion zero-interest repurchase agreement was granted in March last year and repaid by September 2020.

“The provisional advances were then converted to a zero-interest three-month loan in the amount of P540 billion, granted in October 2020 and fully repaid in December 2020,” the DoF said. “These were again accessed in January 2021, extended in April 2021, and fully repaid in July 2021.”

The most recent provisional advance in July will be repaid this week.

The new advances to be requested in January will have zero interest, along with the three-month maturity with another three-month extension.

“We have seen economic recovery already begin to take root as more businesses embark on a safe reopening with the successful rollout of the government’s mass vaccination program,” Mr. Dominguez said in his letter.

“The extension of a new P300-billion provisional advance will ensure sufficient resources for the government to safeguard this promising but still fragile recovery.”

National Treasurer Rosalia V. de Leon said the P300 billion  should be fully repaid by the end of June to fully unwind liquidity support before the next administration takes office.

“Funds granted under this short-term lending arrangement are not used for direct financing of government operations but serve as a liquidity gap measure that ensures the government will be able to undertake large spending in advance of anticipated revenue collections or regular borrowing proceeds,” the DoF said. — Jenina P. Ibañez 

Duterte signs order regulating drug prices

REUTERS
Pharmaceutical tablets and capsules are arranged on a table in this picture illustration taken in Ljubljana, Sept. 18, 2013. — REUTERS/SRDJAN ZIVULOVIC

PRESIDENT Rodrigo R. Duterte on Tuesday signed an executive order that would regulate the prices of more drugs and medicines that are used for the treatment of serious illnesses.

Executive Order (EO) No. 155 seeks to improve Filipinos’ access to affordable and quality medicines by imposing the maximum retail price (MRP) and/or maximum wholesale price (MWP) on other drugs “commonly used for the leading causes of morbidity in the country.”

Acting Presidential Spokesperson Karlo Alexei B. Nograles in a separate statement said the EO will cover 34 drug molecules and 71 drug formulas. These include agents affecting bone metabolism, analgesics, anesthetics, anti-angina, antiarrhythmics, anti-asthma and chronic obstructive pulmonary disease medicines, antibiotics, anticoagulants, anticonvulsants, antidiabetic drugs, antidiuretics, and antiemetics.

“Also covered by the EO are drug molecules and formulas utilized in anti-glaucoma, anti-hypercholesterolemia medicines, antihypertensive medicines, anti-neoplastic/anti-cancer medicines, antiparkinsons drugs, drugs for overactive bladders, growth hormone inhibitors, immunosuppressant drugs, iron chelating agents, and psoriasis, seborrhea and ichthyosis medicines,” Mr. Nograles said.

For instance, a 10 milligram (mg) capsule of analgesic Oxycodone will have a proposed MWP of P75.68 and MRP of P117.

An 80 mg or 4 ml vial of Tocilizumab, an immunosuppressant drug, will have a proposed MWP of P6,440 and MRP of P9,032.81. This drug is also being used to treat patients with severe coronavirus disease 2019 (COVID-19).

A 30 mg vial of the growth hormone inhibitor, Octreotide, will have a proposed MWP of P63,362.50 and MRP of P88,729.48.

Under the EO, the list of covered medicines and the corresponding prices should be reviewed by the Department of Health and Department of Trade and Industry six months from the implementation of the order, and every six months thereafter.

The Health department, Trade department and the Philippine Competition Commission were also tasked to study and propose measures that will influence the supply, demand and expenditure on drugs and medicines.

The EO also requires all manufacturers, importers, distributors, wholesalers, traders, and retailers to “display the retail price which shall not exceed the maximum retail price.”

“The MRP, preceded by the words “RETAIL PRICE NOT TO EXCEED,” and “UNDER DRUG PRICE REGULATION,” on a red strip, shall be clearly printed on the label of the immediate container of the drug and medicine and the minimum pack thereof offered for retail,” the order read.

Violations of the order shall be dealt with in accordance with Republic Act No. 9502 or the Universally Accessible Cheaper and Quality Medicines Act of 2008 and other related laws.

The order will take effect upon its publication in the Official Gazette or in a newspaper of general circulation.

“Within a non-extendable period of ninety (90) days from the effectivity of this Order, existing inventory stock shall be disposed of at prevailing prices,” the order read. “Thereafter, regardless of the status of the existing stock, the MRP and/or MWP under this order shall be strictly implemented.”

Mr. Duterte last year signed a similar order, which imposed MRP and MWP on 87 drug molecules and 133 formulas of selected drugs and medicines. — K.A.T. Atienza

Coronavirus downturn pushed external borrowings to $23.4 billion — Dominguez

PHILIPPINE STAR/ MICHAEL VARCAS

THE GOVERNMENT has so far borrowed $23.4 billion from external sources to fund its coronavirus disease 2019 (COVID-19) response, the Finance chief said.

Finance Secretary Carlos G. Dominguez III said the borrowings were made between March 2020 and Dec. 7, 2021. Of the total, $21 billion covers the decline in government revenue collections, he said at the Kapihan sa Manila Bay event on Wednesday.

The rest was set for COVID-19 response and recovery projects, including vaccine procurement.

“Out of the $21-billion budget support financing contracted by the government, a total of $19.8 billion has been disbursed to the government since March of last year to help bridge the budget gap,” Mr. Dominguez said.

“Of the $2.4-billion grant and loan financing contracted in support of various COVID-19 related projects, about $1.2 billion has been disbursed to the government.”

These projects include buying laboratory equipment, medical supplies, and vaccines, as well as interventions addressing the impact of the pandemic on poor communities.

Mr. Dominguez said COVID-19 vaccines were financed through multilateral development banks.

“We chose to finance our vaccine procurement from the multilateral agencies — Asian Development Bank, World Bank, and Asian Infrastructure Investment Bank — because we wanted to assure the public that there is no overpricing,” he said.

“(These banks) will not finance anything that smells of overpricing, and believe me they see the prices around the world.”

The Finance department has said that the government is set to buy COVID-19 booster doses that will be distributed in 2022.

The Health department said it has administered 92.75 million doses of COVID-19 vaccines as of Dec. 6. Less than 36% of the Philippine population has been fully vaccinated, the Johns Hopkins University COVID-19 tracker showed.

Meanwhile, Mr. Dominguez at the same event suggested that a separate agency should manage the funds of the government-run pension funds and health insurance agency.

The Finance department is preparing a proposed bill to achieve this.

Mr. Dominguez had recently ordered the Social Security System (SSS), the Government Service Insurance System (GSIS), and Philippine Health Insurance Corp. (PhilHealth) to adopt updated financial reporting standards.

“Each of the agencies — SSS, GSIS — have their own investment management offices, which I think do pretty well. However, I believe that more coordination under a unified management of their funds would be more effective and more beneficial for the members of SSS and GSIS,” he said.

Mr. Dominguez also said that the Bureau of Internal Revenue should collect for the various agencies, instead of having separate collection departments for each.

“It is your duty to reduce your expenditure and to be able to increase the fund life and possible the benefits. You have to be more efficient,” he said. “Why do you need a collection department?” — Jenina P. Ibañez

The humble pares gets an upgrade, wins tilt

JOAQUIN CARSI CRUZ, Pares Sa Gubat

THE humble pares — a meal traditionally composed of braised beef stew served with garlic fried rice and a bowl of clear soup that is most often served in roadside eateries — got a makeover and won the grand prize at the East Meets West Culinary Competition.

While the five finalists for the competition had already been announced last month, the five finalists were pitted in a cook-off at the Grand Hyatt on Nov. 30 to determine the winner.

The East Meets West Culinary Competition was organized by Bord Bia, the Irish Food Board, to help promote Irish pork and beef products.

The winner of the cook-off, Joaquin Carsi Cruz, a student of Center for Culinary Arts-Manila, took home the grand prize with his winning dish Pares Sa Gubat (Short rib and mushroom pares with sweet garlic adlai risotto and mango chili fluid gel). Mr. Cruz won P88,000 in prize vouchers, a hotel staycation with an Irish breakfast, high-quality chef’s kit supplies, and a cooking class with the judges: chefs Philip John Golding (Founding Chairman and President of Disciples de Escoffier International Asia – Philippines) and Mark Hagan (Executive Chef of Grand Hyatt Manila, Bonifacio Global City). Rounding out the committee of judges was Donnie Bigcas, last year’s winner.

Mr. Cruz also won a trophy, which he unfortunately broke during the live event, streamed via Zoom. “Our champion broke his trophy. He was so excited,” said host Issa Litton.

In 2nd Place was culinary instructor Miguel Antonio Lorino with his Kabisera: Pahimis Coffee Braised European Beef Shank. Bianca Abola, a student of De La Salle, College of Saint Benilde, took 3rd Place with her interpretation of a regional dish, Bulcachong Smoked Pork Jowl Curry. Mae Romelin Almirante, a student from La Flamme Bleue Center for Culinary Arts, Iloilo City came in 4th with a classic Pork Belly Adobo with Tagine. Finally, Marc Rensus Espinosa, a culinary student from Tarlac City, Pampanga, took the final spot with his Binagoongang Pork Belly.

The entries were judged on the following criteria: Taste and Texture (50%), Correct professional cooking and preparation (25%), Mise en place (10%), Presentation (10%), Authenticity and originality of the recipe (5%).

Mr. Cruz spoke about the Irish short ribs he used for his recipe. “Compared to other short ribs, it really is beefier. It gave so much flavor to my actual sauce.”

“I’m not going to lie. It was inspired by all these drinking nights when I would have pares to cap the night,” he said about why he choose to focus on the meal. Of course, he came up with a twist, which came from his influences as a child. “Pares is my comfort food, and I come from a family of chefs, I was taught classic technique, and I applied it into Filipino cooking.”

Judge Mr. Hagan after all said, “We were really looking for a story.” —  JL Garcia

Celebrity diets and food fads have been around for centuries — and some of them even worked

MAX DELSID/UNSPLASH

THE word “diet” originates from the Greek dieta meaning to live normally. However, nowadays it mostly refers to restricting food to help weight loss rather than a way to enjoy food and health.

Throughout history diets have come and gone. Celebrity diets are popular and often bizarre, but are not a new thing. The Daniel Fast, which resembles a vegan diet, and which has its roots in the Book of Daniel, is perhaps one of the earliest examples of a diet. In around 450 BC Daniel apparently asked if his men were as strong as the Babylonians after a couple of weeks just eating vegetables. This highlights our deep cultural links to diet: for identity, spirituality and, of course, health.

Fasting diets appear throughout our cultural history, seen in Ramadan, Hinduism and Orthodox Christian practices. These vary from not eating during daylight through to just eating a simple vegetarian diet. In the Christian calendar, for instance, historically specific days used to be designated as meat-free. The data is mixed in relation to the health effects of religious fasting, as it depends on how people eat in between fasts.

Fasting may have little to no additional benefits beyond simply inducing a calorie deficit, which itself can have metabolic benefits (lower blood fats and sugars) and weight loss.

Another theme from fasting is the abstinence from meat and animal products. This was seen in the rise of the vegetarian movement in northern England during the 19th century. This movement inspired food entrepreneurs, including William Kellogg (famous for cereals) and Sylvester Graham (crackers), to develop alternative products. The principle behind these being to follow a simple and pious diet to improve the body, mind, and spirit. The followers of this movement linked eating animal products to sin and poor health. The merits of this argument are more philosophical than physiological. But in the age of climate change awareness, the argument to reduce animal produce in our diets has perhaps reemerged as one of the tools we have to save the planet.

The 18th-century doctor George Cheyne was mocked in the press due to his weight (at one point estimated at 220 kg). Many of the wealthier Georgian households would have at the time consumed a high-calorie diet, with large meals of many meats including beef sirloin and pigeon. Mr. Cheyne developed the “vegetable and milk” diet with fewer calories. His own diet included milk, tea, coffee, bread, butter, mild cheese, fruits, nuts, and tender roots including turnips and carrots. He drank no alcohol, barring an occasional small glass of cider.

In the 19th century, undertaker William Banting — trying to manage his own weight — wrote Letters on Corpulence. This is seen as the forerunner of many of the popular low-carbohydrate diets, including keto — we see today. Mr. Banting’s version did include a few ounces of rusk (a light, dry biscuit or piece of twice-baked bread) a day, but it also included more sherry or other alcoholic drinks in a day than is recommended.

Throughout history some incredibly strange and dangerous diets have been championed. During the 1920s, the slim androgynous popular look for women may have led to a drive for weight loss. This led to a range of unhealthy practices of varying effect on weight — from ingesting tapeworms, which could have led to malnutrition as vital minerals would not have been absorbed, through to instead of snacking having a cigarette, when tobacco companies added appetite suppressants to cigarettes. This was before the causal link between smoking and cancer was known, so although it may have reduced food intake, it is possibly one of the least healthy diets to follow.

The cotton ball diet is said to have been developed by models as a method of reducing food intake by swallowing cotton balls to fill the stomach and soak up stomach juices. Most cotton balls today are bleached polyester fibers and therefore this nonsensical approach to calorie restriction is neither effective or safe.

The Mediterranean diet’s history goes back to at least ancient Roman times. However, it is subtly different across the Mediterranean region. The best-known healthy version is recorded in rural Greece, a simple diet of foods including fish, vegetables, fruit, grains, nuts, and some olive oil and wine — as well as a little dairy and meat — as part of a food-orientated lifestyle. This is very different to the foods seen in the Mediterranean today. Global food culture changed with more highly processed foods containing fat, sugar and salt becoming available.

If we learn one thing from diets across history it is that enjoying simple food with others, and not too much, is the best way to both be, and stay, healthy.

 

James Brown is an Associate Professor in Biology and Biomedical Science, Aston University. He previously received funding from the EU Horizon 2020 scheme to study personalized approaches to food choices. Duane Mellor is the Lead for Evidence-Based Medicine and Nutrition, Aston Medical School, Aston University. He is a member of the British Dietetic Association and has supported the production of material for Vegan Society (unpaid). They have previously been employed using funding from Horizon 2020 scheme to study personalized approaches to food choices.

‘Greener’ second homes capture buyer interest

By Keren Concepcion G. Valmonte, Reporter

FILIPINOS looking for second homes are also interested in “greener” or energy-efficient features, a global real estate service provider said in a study that also forecast local demand for these residences to continue beyond the pandemic.

In this year’s local edition of Santos Knight Frank’s Global Buyer Survey, it found that 41% of local respondents are keen on properties that would be their “accessible place of rest.”

The figure is higher than the 27% average in Asia and the 33% globally.

“Better lifestyle will continue to be a priority, and second homes will help elevate that so the demand will always be there even after the COVID-19 (coronavirus disease 2019) pandemic,” Residential Services Associate Director Marievie D. Gimena-Villanueva said in an e-mailed response to questions on Dec. 7.

Individuals and families, especially executives and retirees here and abroad, are looking for their own “safe haven.” Homebuyers now want to be prepared “in case another pandemic happens.”

“[Or they simply want to have] a place where they can experience a more relaxed atmosphere, enjoy the beauty of nature, and rejuvenate oneself privately and within the desired pace that they want to live,” Ms. Gimena-Villanueva said.

Second homes located outside cities may also be used by owners to host short-term rentals once travel restrictions ease.

“From an investment perspective, you can never go wrong with acquiring another property for rental purposes as long as you are purchasing in a strategic location that’s accessible [and] offers opportunities for capital appreciation,” Ms. Gimena-Villanueva said.

Majority or 81% of the property consultant’s survey respondents earn over $50,000 annually, “a cohort that has shown resilience in their demand for property during the pandemic and who has the ability to move between locations with much greater ease.”

Nearly half of the local respondents said they did not change their budgets since the pandemic.

“Upgrading the family’s primary residence is the main motivation [to] buy a next house, according to 35% of local respondents,” Santos Knight Frank said. The next reason was for downsizing or retirement as 50% of the respondents are aged 40 to 60 years old.

Meanwhile, one in every four interviewees said their homebuying decisions were delayed due to travel restrictions, but one out of every three respondents said the lockdowns did not impact their plans. 

The pandemic restrictions did, however, lead 27% of the respondents to change location preferences.

Santos Knight Frank’s survey also showed that 85% of Filipino respondents moved houses since the pandemic struck. Those who moved wanted more outdoor spaces, planned to downsize, and wanted to have access to better amenities.

Meanwhile, 63% of those who have not yet moved houses said they are “more inclined to do so” within the next 12 months. Most are considering to move to suburbs (40%), followed by cities (33%), in rural villages (20%), and some wanted to relocate abroad (7%).

Infrastructure projects that improve connecting within and beyond Metro Manila are one of the key catalysts for the market.

“While there is the shifting preference to the outskirts and provinces, the city remains ideal for some buyers who prefer to be at the center of everything. We anticipate a gradual rebound for condominium sales in the next year,” Ms. Gimena-Villanueva said.

However, 24% of the respondents no longer put a premium on properties that are of walking distance from work as well as those near transportation hubs and big commercial establishments.

Santos Knight Frank noted an increase of inquiries for areas outside Metro Manila, such as Cavite, Laguna, Batangas, Bulacan, and Pampanga. Elevated cities such as Antipolo, Tagaytay in Cavite, and properties in the Batangas coast also captured market interest.

Further to the increased interest in moving to the suburbs, the survey showed that one in every three local respondents are likely to move to a detached home or villa and 23% are considering waterfront residences.

Homebuyers prefer properties with access to high-speed broadband and houses with their own home office or study. 

Health and wellness-related features and amenities are now also on a buyer’s wish list. This includes having “green space,” good air quality, access to healthcare, and houses with good views.

“Interestingly, majority of local respondents have also expressed interest on greener homes although a significantly low number are willing to pay more,” Santos Knight Frank said.

The survey showed that four in 10 respondents wanted a greener home and are willing to pay more for it. Meanwhile, 26% said they would invest in an energy-efficient home “if future environmental regulations impact the value of their property.”

Santos Knight Frank Head of Project Management Andrew T. Frondozo said greener homes aim to reduce carbon footprint. This may be done through using clean energy or solar power, using appliances with inverters to also reduce utility costs, using LED lights as well as having a well-designed house layout.

“Smart homes, for one, are already an emerging market in residential real estate. One of the biggest telco companies are set to allocate 10,000 Mbps (megabits per second) to enable more smart homes in the country,” Mr. Frondozo said.

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