SMPC fills Panian open-pit mine

May 5, 2022 | 12:01 am

SEMIRARA Mining and Power Corp. (SMPC) said it had completed its backfilling operations in Panian, which it described as once the largest open-pit mine in the Philippines.

In a statement on Wednesday, the integrated energy company said it had spent 11.5 million man-hours to fill the pit with over 452 million bank cubic meters of earth material or “enough to fill 217,000 Olympic-size swimming pools.”

Maria Cristina C. Gotianun, SMPC president and chief operating officer, said: “We are mindful of our twin role as stewards and government contractor. What we accomplished in Panian is proof of that.”

Panian mine in Semirara Island covers 400 hectares. During its mine life, it had topographic elevations that ranged from 300 meters below sea level to 30 meters above sea level.

SMPC said 300 meters “is roughly the height of a 90-story building.”

The listed firm said it had fully covered the pit in six years, or ahead of the 10-year mine rehabilitation plan. The rehabilitation calls for the repair of land that was disturbed by mining activities.

“The company is now developing a science-based plan to reforest and restore the biodiversity in the area,” the company said. “Panian had a mine life of 16 years and generated P12.7 billion in royalties for the government and SMPC host communities.”

It said of the amount, P7.6 billion went to the national government while P2.3 billion and P1.8 billion were received by Caluya town and Brgy. Semirara, respectively. Up to P1 billion went to Antique province.

SMPC also said that it had won in September last year the ASEAN Energy Awards’ special submission category for its accelerated rehabilitation of South Panian pit.

It said it had completely filled North Panian with earth material last January, or four months ahead of its committed date to the Department of Energy.

On Thursday, shares in SMPC slipped by 25 centavos or 0.91% to end at P27.25 each at the stock exchange.

PSE moves to lure more investors to listed firms

May 5, 2022 | 12:01 am

THE Philippine Stock Exchange, Inc. (PSE) is hosting an “investor day” about two weeks after the national elections in an attempt to attract more institutional and retail investors to put their funds in listed firms.

“This initiative forms part of PSE’s broader program to continuously provide value for companies even after their listing,” PSE President and Chief Executive Ramon S. Monzon said in a statement on Wednesday.

The event called PSE STAR (Strengthening Access and Reach) aims to provide participating publicly listed companies (PLCs) a venue to share their first-quarter financial showing, upcoming projects and business plans “in the new normal.”

Mr. Monzon said the investor day, which is set on May 24 to 26, is intended to support publicly listed firms, including non-PSE members and newly listed firms, with activities that can help boost their growth post-initial public offering.

“As a pilot event, we opted for an investor relations project geared towards increasing analysts’ coverage and potentially attracting more institutional and retail investors among the participating companies,” he added.

The virtual event will be hosted by Bloomberg LP, Fund Managers Association of the Philippines (FMAP) and Trust Officers Association of the Philippines (TOAP).

“With Bloomberg’s reach and FMAP and TOAP’s network, this event will give market participants locally and across the globe easy access to some of our PLCs,” Mr. Monzon said.

On May 24, the featured companies will be Monde Nissin Corp., Max’s Group, Inc., Century Pacific Food, Inc., The Keeper’s Holdings, Inc. and Axelum Resources Corp.

Filinvest Land, Inc., RL Commercial REIT, Inc., Megawide Construction Corp., Cemex Holdings Philippines, Inc. and AllDay Marts, Inc. will be featured on May 25.

Meanwhile, the May 26 program will be headlined by China Banking Corp., Security Bank Corp., Pilipinas Shell Petroleum Corp., Nickel Asia Corp., and Converge Information and Communications Technology Solutions, Inc.

Speakers will include Bloomberg Equity Research Analyst Ken Foong, Max’s Group Chief Financial Officer Maria Rochelle S. Diaz, Century Pacific Food Executive Chairman Christopher T. Po, The Keeper’s Holdings President Jose L. Santamarina, and Axelum Resources Vice-President Marie Z. Paguirigan.

The PSE said the event is open to the companies’ shareholders, buy and sell side analysts, and the investing public. — Luisa Maria Jacinta C. Jocson

PLDT deploys more Luzon-Visayas submarine fiber links

May 5, 2022 | 12:01 am

PLDT, Inc. said on Wednesday that it is deploying additional submarine fiber links to improve connectivity in southern Luzon and some parts of Visayas.

The new fiber links will cover the provinces of Sorsogon, Quezon, Albay, and Occidental Mindoro, as well as Samar and Aklan in Visayas, the company said in an e-mailed statement.

“This project is part of the PLDT group’s sustained investments in its network. Network-related initiatives made up the bulk of the P89-billion spend for 2021. This brings total capital expenditure spent over the last 10 years to P518.5 billion,” it added.

Once completed, the project will fiber up Lubang island in Mindoro, Semirara island in Antique, and Burias in Masbate.

The project is also expected to enhance PLDT’s wireless arm Smart Communications, Inc.’s mobile services in those areas.

Moreover, it will “fortify existing aerial cables with underground inland cables, which is essential in ensuring network resiliency, particularly in typhoon-prone provinces.”

Mario G. Tamayo, head of technology at PLDT and Smart, said the group’s goal is to power hybrid workplaces, e-commerce, online banking, and distance learning even in remote areas.

“We continue to fortify our future with the upgrade and expansion of our fiber network to serve as many Filipinos as possible and enable their pivot to digital in the new normal,” he added.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin

Cebu Pacific raises passenger capacity to Legazpi

May 5, 2022 | 12:01 am

BUDGET carrier Cebu Pacific, operated by Cebu Air, Inc., said on Wednesday that it is increasing seat availability for travelers to Legazpi in anticipation of higher demand during the summer peak travel season.

Cebu Pacific “resumed its jet operations at the Bicol International Airport starting May 1, 2022,” the airline said in a statement.

“Since the new airport opened in October last year, we have been operating our 78-seater ATR or turbo propeller type aircraft. The addition of jet flights will enable CEB to serve more passengers with our Airbus fleet while continuously contributing to tourism and economic growth of the Bicol region,” it added.

The airline currently operates the Manila-Legazpi-Manila route up to five times daily. It operates four weekly flights between Cebu and Legazpi, on Mondays, Wednesdays, Fridays, and Sundays.

The airline recently resumed domestic flights to Clark International Airport. Cebu Pacific started operating the Clark-Cebu route in 2006.

Before the pandemic, the airline was also serving direct flights from Clark to six other domestic destinations, namely: Bacolod, Bohol, Boracay, Davao, Iloilo, and Puerto Princesa. It also flew to four international destinations then, namely: Hong Kong, Macau, Singapore, and Tokyo. — Arjay L. Balinbin

Data are key to help Filipino organizations meet their sustainability goals

May 5, 2022 | 12:01 am

IT IS ABUNDANTLY CLEAR that climate change is impacting not just the environment, but also society, organizations and businesses around the world.

In the recent World Economic Forum’s “Global Risks Report 2021,” the top three most likely risks to businesses in the next 10 years are extreme weather, climate action failure and human-led environmental damage.

A CLEAR CALL FOR SUSTAINABLE CHANGE
Awareness of global environmental issues is changing the habits of consumers wherever they live. In a recent IBV Earth Day consumer survey, 49% of consumers said that they were willing to pay a premium for brands that are sustainable and/or environmentally responsible. Interestingly, 35% of these respondents say they have either stopped using diesel/gas/petrol/hybrid personal cars or use them less frequently due to environmental sustainability concerns.

Another 35% of respondents who recently changed employers accepted a lower salary to work for an organization they consider to be environmentally sustainable or socially responsible.

Investors also increasingly put their money with publicly traded companies that are a force for good. According to the same study, 62% of all personal investors surveyed already take environmental sustainability into account in their investment portfolios, and more than half of all respondents agree that the financial returns of investment in environmentally sustainable companies will be higher over the next 5 years.

Business and nations will need to embed sustainable practices into every area of their operations, products, services and policies if they are to have long term economic sustainability.

In fact, the Asian Development Bank estimates that the Philippines stands to lose 6% of its GDP annually by 2100 if it disregards climate change risks.

Of course, challenges to natural resources may be extensive, but if there is one abundant resource at hand to help, it is data.

Data are at the heart of helping all organizations make progress on their net-zero goals. Available data around the use of carbon and the degree of carbon richness in our value chains are needed to see the progress of our planned carbon reduction, which is very hard to observe and act on without accurate data.

The power of data and leveraging on tools such as AI are a very fundamental part of the journey towards net zero.

EMBEDDING SUSTAINABLE PRACTICES WILL BE KEY
Today, we see countries and companies rising to the challenge. IBM’s work with clients has shown that, presented with the right insights at the right time, businesses and consumers WILL act.

IBM teamed up with a European city and an energy partner to improve access to renewable energy options through real-time adjustments of cooling, heating and ventilation equipment. This flexibility of energy has resulted in reduced carbon output, and is also helping to change consumer and business behaviors around how they consume energy.

Another example is the IBM Food Trust. We developed an AI and blockchain-based food traceability solution on the cloud that can increase food safety and freshness, thereby unlocking supply chain efficiencies to help minimize waste, thereby enhancing a brand’s reputation with consumers and contribute directly to businesses’ bottom lines.

ENVIRONMENTAL GOALS AND PROFITABLE BUSINESSES TOGETHER
Weather, operational resilience and climate risk are also inextricably linked. In the Philippines, the Energy Development Corporation (EDC), the world’s largest vertically integrated geothermal energy producer, is leveraging on hourly forecast data provided by IBM’s The Weather Company to understand the risks and decide whether or not to keep operating their geothermal plants in areas prone to landslides and typhoons. These insights also help keep EDC’s work force safe from the extreme weather events.

Access to The Weather Company also allows farmers in Nueva Ecija and Quezon province to monitor their harvests, as these areas are prone to flooding and heavy rain. Through the sponsorship of the Jollibee Group Foundation, access to The Weather Company via multiple mobile and messaging platforms allows the farmers to monitor the weather, and helps them better understand how their crops are impacted. This precise forecast at 500m x 500m resolution ultimately helps farmers improve the yield of their crops, and ensures the smooth flow of fresh vegetable produce from farms to Jollibee’s restaurants around the country.

USING TODAY’S MOST PLENTIFUL RESOURCE TO SAVE THE MOST SCARCE — DATA
All these engagements share a common thread: Data at significant scale that are critical for delivering these solutions, and data not held by any one area or in any one format. To achieve meaningful change, organizational silos that control data must be broken down and instead ought to be built on open and secure platforms, to allow insights to be delivered at speed to consumers and business alike. New ways of thinking and operating must be also be uncovered in this journey.

Achieving net zero targets starts and ends with data, today’s most plentiful resource. That, coupled with new value chains, ecosystems, and technology will help to further accelerate progress toward a sustainable future for us all.

Natalie Pia Azarcon is a managing partner at IBM Consulting, IBM Philippines.

BSP grants EMI license to Peppermint Innovation

May 5, 2022 | 12:01 am

THE BANGKO SENTRAL ng Pilipinas (BSP) granted Australia-based Peppermint Innovation Ltd. the authority to operate as an electronic money issuer (EMI) in the country.

Peppermint will deliver e-wallet services through its bizmoto mobile app and target small businesses and underserved Filipinos, it said in a statement on Wednesday.

“Clearly, the digital revolution is with us and the bizmoto platform can now facilitate any e-money transaction and service open-loop e-wallet accounts, providing Filipinos with a convenient and secure way to receive digital money and services,” Peppermint Managing Director and Chief Executive Officer Chris Kain said.

Peppermint said it will soon start a pilot program to attract members of a local community to use bizmoto for their digital and mobile payments as an alternative to cash transactions.

The firm is hoping to respond to the needs of microentrepreneurs that use digital payments for their businesses. These users can apply for bizmoPay loans, micro-insurance policies and other services that will be included in the platform.

“Peppermint aims to connect marginalized Filipinos such as farmers, fishermen and micro, small, and medium entrepreneurs, as well as people living on day-to-day pay cheques so they can safely and more quickly receive their salaries, pension, social security benefits and other government financial assistance money,” it said.

There are 71 BSP-licensed EMIs as of April 22.

The BSP wants 50% of retail payments done online and 70% of Filipino adults to have transaction accounts with financial institutions by 2023.

Digital payments made up 20.1% of all transactions in terms of volume in 2020, up from the 10% seen in 2018, based on BSP data, while some 53% of adult Filipinos had deposit or an e-money accounts as of the first quarter of 2021. — Luz Wendy T. Noble

Dining In/Out (05/05/22)

May 5, 2022 | 12:01 am

MOTHERS’ Day Flower Jelly Mini Cakes from Bru Coffee Bar

1 of 15

Conrad Manila celebrates Mother’s Day

CONRAD Manila celebrates all hard-working Moms this Mother’s Day, May 8, with epicurean indulgences at its award-winning dining restaurants and wellness pampering at Conrad Spa. Mom dines free in every group of four at Brasserie on 3. As an added treat, she gets to bring home a special surprise from the restaurant and hotel partner Shiseido. “Just for Mom” at Brasserie on 3 buffet price starts at P3,500 net per person. Meanwhile, China Blue by Jereme Leung offers a culinary journey of authentic Chinese flavors on Mother’s Day. As an added indulgence, Mom brings home a Mother’s Day surprise. The Mother’s Day Set Menu is priced P48,880 net for a table of 10 diners. Bru Coffee Bar’s Mother’s Day Flower Jelly Mini Cakes (among other colorful creations and sweets by the pastry team) is the ideal Mother’s Day present. Then there are luxurious head-to-toe treatments at Conrad Spa. Each treatment is complemented by a Signature Afternoon High Tea selection featuring fresh brews and homemade sweets and pastries for the ultimate bayside R&R. Conrad Spa’s Mother’s Day “Tranquili-Tea” offer starts at P5,500 per person. For inquiries or reservations, call 8833-9999 or e-mail conradmanila@conradhotels.com.

The Pen’s moms-only lounges

SAY goodbye to the typical bouquet of flowers and celebrating at home and say hello to these offers from The Peninsula Manila that come with some extra nurturing in moms-only lounges, dining experiences, or overnights or longer stays this Mother’s Day Weekend. There is The Pen Ultimate Mother’s Day Dream Lounge at the Upper Lobby, a moms-only hideaway separated from the hustle and bustle of The Lobby. Amidst the eclectic blend of furnishings and experiences they can unwind and enjoy complimentary refreshments and bites, free-flowing inventive mocktails and tapas-style plates that will be served throughout the day. Impress her even further with the delicious (and complimentary) Peninsula Afternoon Tea that will be served at The Upper Lobby from 2:30 to 5:30 p.m. The Mother’s Day Dream Lounge will be open on May 8, 11 a.m. to 7 p.m., for P2,500 per person, inclusive of taxes. Then there is the To Mom With Love Room Package on May 7 and 8. Rates start at P8,500 for a Deluxe Room (exclusive of taxes). The package comes with breakfast buffet for two adults and two children five years old and below at Escolta, complimentary use of The Fitness Center and Spa, outdoor pool, WiFi, and parking. Shower her with additional gifts like a bouquet of Mother’s Day blooms, an exclusive pass to the Pen Ultimate Mother’s Day Dream Lounge at The Upper Lobby, an in-room massage, a blow dry at Le Maquillage salon, and a little extra time for relaxation with a complimentary Peninsula Time late checkout. The Escolta Mother’s Day brunch buffet will be available from noon to 3 p.m. for P3,500 (adults) and P1,750 (children under 12). All prices are inclusive of 10% service charge and prevailing government taxes. For inquiries or further information on The Peninsula Manila’s Mother’s Day Dream Lounge, room package, and Sunday Brunch Buffet, call 8887-2888 (trunk line), extension 6630 (Room Reservations) or 6694 (Restaurant Reservations), e-mail DiningPMN@peninsula.com (Food & Beverage) or ReservationPMN@peninsula.com (Rooms), or through PenChat, The Peninsula Manila’s 24-hour e-concierge by using this link: https://bit.ly/PenChatFacebook.

City of Dreams Manila celebrates moms

FROM dining specials at award-winning restaurants to family friendly activities and gift options, people spoilt for choice on how to mark Mother’s Day at City of Dreams Manila. Crystal Dragon, specializing in Cantonese and regional Chinese cuisine, presents a special Mother’s Day ala carte menu available for lunch and dinner from May 1 to 10, with Wok-fried Boston lobster with pineapple and lemon sauce and Honey-glazed silver pompano fillet with Zhenjiang black vinegar as highlights. Other options are the restaurant’s dim sum selection for lunch and its extensive regular lunch and dinner a la carte menu. On May 8, mothers dining at Crystal Dragon will get a sweet surprise at the end of the meal. From dainty handmade chocolates to stylish pastries and confections, Café Society has come up with special gift choices available from May 6 to 8. Chocolate rose bouquets, flower meringues, and hazelnut praline passion fruit cake are among other confections. Playdates at DreamPlay are made more special on May 8 as children get a chance to surprise their mothers with a note and a handmade heart-shaped cookie for Mother’s Day. Children with participating tickets can join the card-making activity at the play space’s Dream Tales library, and the baking session at Cooking with Gingy. For inquiries and reservations, call 8800-8080 or e-mail guestservices@cod-manila.com. For more information, visit www.cityofdreamsmanila.com.

Dampa-style feasts, signature cakes for Mother’s Day

HILTON Manila celebrates Mother’s Day with Dampa-style feasts featuring sustainably sourced ingredients, Bring Hilton Home set meals, and signature cakes, among other indulgences, on Sunday, May 8. At Kusina Sea Kitchens, indulge in sustainably sourced seafood and premium meats grilled and prepared a la minute, Dampa-style, at the Marketplace. Guests will be serenaded by a musical performance by guest artists, with the children invited to take part in an art activity. As an added treat, Mom gets to bring home a special gift from Kusina which the whole family can enjoy on their next visit to Hilton Manila. The buffet lunch/dinner price starts at P3,200 net per person. RWM Exclusives Members enjoy special savings on Mother’s Day buffet. At Madison, Bring Hilton Home set meals are a choice of signature cakes, Filipino or Western platters, or a wine and cheese charcuterie set available from May 7 to 8, with prices starting at P1,200. Hilton Manila offers a Mother’s Day weekend escape in the heart of Resorts World Manila, offering well-appointed guest rooms and suites, award-winning gourmet options, and the Vega pool and Vubble pods, among others. Bespoke room offers and special room rates such as the Foodie Staycation are also available for bookings made through www.hiltonmanila.com.

Pamper Mom at Sheraton Manila Bay

IT IS MOM’S turn to be pampered on Mother’s Day with a memorable dining experience and a relaxing staycation at Sheraton Manila Bay. On May 8, the Sunday Brunch Buffet at the Pacific Lounge will array of local and international cuisine for P1,300++ per adult and P650++ per child. Mothers enjoy a complimentary buffet when dining with three adults. The Pacific Lounge is at the 21^st floor. The hotel’s Mother’s Day Room Package starts at P8,250++ for Deluxe Room inclusive of accommodation for two adults and two children aged six years old and below, buffet breakfast for two at the Pacific Lounge, and Mother’s Day Brunch on May 8 for one adult. The room promo is valid from May 5 to 10. The Sheraton Manila Bay is at M. Adriatico cor. Gen Malvar Sts. Malate, Manila. For reservations call 5318-0788 or e-mail reservations.manilabay@sheraton.com.

Free Mimi & Bros Cheesecake on Mother’s Day

MIMI & BROS customers are in for a sweet treat when they take their moms out on a date on Mother’s Day. On May 7 and 8, Mimi & Bros is giving its patrons a free Basque Burnt Cheesecake with a minimum purchase of P1,200 (dine-in and delivery). Located at Crossroads, 32^nd St., Bonifacio Global City, Mimi & Bros is open for al fresco dining. To order, message Mimi & Bros on Messenger on m.me/mimiandbros, or through Viber at 0945-798-5176.

Nespresso promo for Mother’s Day

IN HONOR of moms everywhere, Nespresso is offering 10% off on any single machine purchased with a sleeve of the limited edition blends World Explorations Miami Espresso, Master Origins Papua New Guinea, or Master Origins Aged Sumatra, until May 15. Get a chance to receive a special token when purchasing any machine from May 6 to 8. Nespresso boutiques are located in Power Plant Mall, The Podium Mall, and Robinsons Magnolia, while there are pop-up stores in Greenbelt 5, One Bonifacio High Street Mall, Shangri-La Mall, TriNoma, Alabang Town Center, SM Mall of Asia, and SM Aura. One can also shop online at www.nespresso.ph. Nespresso Club members get first access to promos and what’s new at Nespresso.

New dishes at Tatatito

Starting May 1, diners can enjoy two new dishes showcasing Tatatito Filipino Home Kitchen’s unique perspective and interpretation of Filipino food. Inspired by the subtle flavors and bold look of adobong pusit, the culinary team and owners Reagan and Aileen Tan of the Mc Wilson Group came up with Squid Ink Bamboo Rice. Cooked the same way as Bamboo Rice, it infuses the rice with mild earthy flavors. The addition of roasted garlic and cherry tomatoes provides additional taste and texture without overpowering any dish paired with it. It comes with a wedge of lemon to brighten the dish and its flavors. It’s best enjoyed with Tatatito’s signature dishes, like Tatatito Fried Chicken, Tuna Belly Inasal, Classic Crispy Pata, and Crispy Binusog na Pusit. The second new dish is Ginataang Salmon — a large slab of salmon with crispy skin, and the rest of the fish is sitting on a bed of coconut sauce. To balance the creaminess of the sauce, it is served with mustasa (mustard greens), cherry tomatoes, string beans, okra, eggplant, and onions. Tatatito Filipino Home Kitchen is at the ground floor of the OPL Bldg., 100 Don Carlos Palanca St., Legaspi Village, Makati City. It is open daily (Monday to Thursday 8:30 a.m. to 10 p.m.; Friday 8:30 a.m. to 11 p.m.; Saturday and Sunday 8 a.m. to 9 p.m.). For online orders, call 0991-300-5000 or order through GrabFood and FoodPanda (available in select locations).

M Bakery launches new look

Following its flagship brand in New York City, M Bakery introduces its new brand look. The updated core brand color is inspired by the iconic green of the bakery’s walls, while other colors are inspired by some of its popular desserts. The new logo takes off from the bakery’s trademarked cupcake swirl and the live theater inside the bakery of cupcakes being iced and banana pudding being scooped. M Bakery will roll out its new design elements over the next few months, starting with its digital platforms, followed by its packaging and store refresh. It’s a new look but still the same desserts Filipinos have become familiar with. Aside from its two fan favorites — banana pudding and cupcakes with the trademark M Bakery buttercream swirl — the bakery has other bestsellers on its menu. These are available daily in the BGC and Rockwell locations. They are: Tres Leches Cake in classic, salted caramel, and coffee tres leches variants; Blueberry Jamboree; Caramel Pecan Cheesecake; Carrot Cake; Marble Cream Cheese Brownie; Chocolate-Dipped Macaroon; Chocolate Chunk Cookie; Chocolate Parfait; Calamansi Icebox; and Classic Icebox Cake. The main store is at the Lower Ground, Unit #23 5^th Ave. corner 28^th St., One Bonifacio High Street Mall, Bonifacio Global City, with a branch at Power Plant Mall in Rockwell, Makati City.

Herbie Hard Seltzer arrives in the PHL

Happy Living Philippines Corp. has launched Herbie Hard Seltzer, a sparkling alcoholic beverage designed for drinkers who seek a refreshing alcoholic beverage alternative to beer or wine without having to compromise their health goals. At just 95 calories and 1.7 grams of sugar per serving, Herbie Hard Seltzer is made of 100% natural fruit flavor. In addition to being vegan and gluten-free, each serving also contains 30 mg of Vitamin C. The 5% ABV Herbie Hard Seltzer is available in three flavors: Lychee, Pineapple, and Lime. It is available in 250 ml cans at all Robinsons Marketplaces.

Eden Melt Sarap recipes online

Cooks who are interested in trying out the now meltier Eden Melt Sarap can check out the recipes in www.cheeseanything.com. Updates and more recipes can be found at the Facebook page of Eden Cheese PH.

Sweet summer treats without added sugar

Glorious Blend iced tea mixes are naturally sweet and designed for people who want to reduce their intake of sugar-rich foods and beverages. These Stevia-sweetened thirst quenchers are perfect for beating the summer heat and come in lemon, red tea, and cucumber lemonade flavors. Stevia is a safe and healthy sugar substitute that can sweeten food. It can help decrease calorie intake, lower blood sugar levels, and lower the risk of developing cavities. It is a natural sweetener that can be helpful for people with diabetes as it won’t cause blood sugar levels to skyrocket like other sugars. At the same time, Stevia has been shown in animal studies and human clinical trials to reduce cholesterol buildup due to its ability to boost insulin production, which reduces weight gain associated with risks of heart disease or stroke. Glorious Blend’s sweetened iced tea mixes are available in major supermarkets at budget-friendly prices. For more information about Glorious Blend check out https://www.facebook.com/gloriousblend.

Conti’s Triple Berry Mousse Cake for Mothers Day

For this Mother’s Day, Conti’s Bakeshop and Restaurant is offering Triple Berry Mousse cake, a light cake made with layers of vanilla sponge cake, blueberry, raspberry, and strawberry mousse between crunchy granola bits and a crispy butter crust. The cake is topped with mixed berries coulis. The cake is available for dine-in, takeout, and pick-up in all Conti’s stores, and for delivery on the website and via GrabFood. Conti’s is sweetening the deal for Mother’s Day with a limited-edition Cradle of Love tote bag designed by Filipino artist June Digan. The bag features a colored illustration of a mother’s different stages of love. The bag comes as a complimentary gift with every purchase of Triple Berry Mousse cake from May 6 until May 9. The whole cake is P1,135 and it is also available per slice at P165. Customers may also avail themselves of the Cradle of Love tote bag for P170.

Mother’s Day at Crimson Hotel

Crimson Filinvest City has a lineup of staycation packages and dining options for Mother’s Day. There is a bountiful brunch buffet over at Cafe Eight with a selection of savories and mains followed by numerous sweets, including a special cake from Baker J. Mothers dining at Café Eight can have their portrait taken as a keepsake for the day. Throughout the month of May, mothers can be treated to afternoon tea at Baker J. Mothers dining there on May 8 get a free mimosa cocktail to celebrate. Crimson’s pastry chefs have come up with a confection called the Queen of Hearts, featuring a madeleine lime sponge paired with a strawberry smoothie, strawberry mousse, and a strawberry glaze. The Queen of Hearts is only available from May 6 to 8.Firehouse Pizza has the Love You to Pizzas Mom promo where two pizzas — a Signature and a Classic — are brought to the table, along with six Parmesan Fried Chicken Wings with Garlic Aioli, a Truffle Penne Platter, and a dessert to end the meal. Meanwhile, starting at P8,700 a night, the hotel’s Mother’s Day staycation promo includes breakfast for two adults and two kids under the age of 12 or a Mother’s Day Brunch for two, along with a complimentary parking pass and a cake from the pastry masters at Baker J. Booking period is until May 6, with stay periods running from May 6 to 8. To reserve or order the Mother’s Day treats, call Café Eight at 0998-591-5227; Baker J at 0998-595-3831; or Firehouse Pizza at 0998-595-3832. Book a staycation at alabang.reservations@crimsonhotel.com or log on tohttps://www.crimsonhotel.com/manila.

Moms rule at Mang Inasal

Mang Inasal is gifting all mothers with back-to-back treats in-store and digital this Mother’ Day. Among the special treats that Mang Inasal has li has lined up is a week-long in-store promo where mothers who will dine in and celebrate Mother’s Day from May 1 to 8 will enjoy a free extra scoop ofube ice cream when they order a regular size Extra Creamy Halo-Halo.Online, the first-ever Mang Inasal Mothers’ Day Momfluencers Conference (MOMCON) will be aired on the Mang Inasal Facebook Page on May 6 at 11 a.m., topbilled by Mang Inasal celebrity endorser Dimples Romana. Joining her in the virtual event is Ciara Magallanes of Mommy Diaries PH and other “momfluencers.” Live viewers will be given the chance to win MangInasal gift certificates during the program. Customers can also join the #MomsRuleAtMangInasal Photo Challenge. Promo joiners on Facebook will be asked to photo comment their recent Mang Inasal moment with their mothers. The promo will also run from May 1 to 8.

Philippines drops anew in World Press Freedom Index

May 5, 2022 | 12:00 am

THE PHILIPPINES’ press freedom ranking further declined in 2022, amid continued cyberattacks on news websites and judicial harassment of journalists. Read the full story.

Source: Reporters Without Borders’ World Press Freedom Index 2022

How PSEi member stocks performed — May 4, 2022

May 5, 2022 | 12:00 am

Here’s a quick glance at how PSEi stocks fared on Wednesday, May 4, 2022.

Stocks rebound on bargain hunting after break

May 4, 2022 | 9:00 pm

STOCKS rebounded on Wednesday on bargain hunting after the one-day trading break and ahead of the expected rate hike from the US Federal Reserve.

The benchmark Philippine Stock Exchange index (PSEi) improved by 81.65 points or 1.21% to close at 6,802.73 on Wednesday, while the broader all shares index rose by 18.16 points or 0.50% to 3,614.99.

“Investors reverted to bargain hunting after the holiday… The streets are largely expecting the [US] central bank to raise rates by 50 basis points (bps) this week,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

The stock market was closed for trading on Tuesday in commemoration of Eid’l Fitr.

“Meanwhile, oil prices [jumped] as demand worries stemming from China’s prolonged COVID-19 (coronavirus disease 2019) lockdowns outweighed the prospect of a European embargo on Russian crude,” he added.

First Metro Investment Corp. Head of Research Cristina S. Ulang said in a Viber message that the market was on bargain hunting mode due to cheap valuation.

The Fed is widely expected to fire off another rate hike at its May 3-4 review following the 25-bp increase it made in March.

Fed Chairman Jerome Powell has said they are will consider increasing borrowing costs by a bigger 50 bps to help tame inflation that has reached multi-decade highs.

Fed policy makers are looking set to deliver a series of aggressive interest rate hikes at least until the summer, Reuters reported.

There won’t be economic or dot plot projections at this meeting, but the market will pay close attention to Mr. Powell’s press conference for clues on interest rates and balance sheet reduction.

Meanwhile, oil prices bounced on Wednesday ahead of the Fed’s decision and further sanctions on Russia by the European Union.

Brent crude futures had risen $1.46 or 1.4% to $106.43 a barrel and West Texas Intermediate crude futures rose $1.59 or 1.6% to $104.00 a barrel.

The majority of the sectoral indices ended in the green on Wednesday, except for mining and oil, which fell by 215.13 points or 1.87% to 11,260.58, and holding firms, which dropped by 2.45 points or 0.03% to 6,335.55.

Meanwhile, property gained 73.85 points or 2.42% to 3,125.01; financials went up by 28.09 points or 1.76% to 1,616.91; industrials climbed by 124.74 points or 1.34% to 9,403.45; and services added by 6.66 points or 0.35% to 1,876.19.

The MidCap index dropped by 14.12 points or 1.27% to 1,100.67 while the Dividend Yield index advanced by 8.46 points or 0.53% to close at 1,595.18.

Decliners beat advancers, 124 versus 64, while 54 names ended unchanged.

Value turnover increased to P6.92 billion with 631.99 million shares changing hands from P3.61 billion with 795.48 million issues seen on the previous day.

Net foreign selling grew to P2.43 billion from the P491.11 million seen on Monday. — Luisa Maria Jacinta C. Jocson with Reuters

Peso down ahead of Fed decision, rising oil prices

May 4, 2022 | 9:00 pm

THE PESO weakened versus the greenback on Wednesday as the market was cautious ahead of the policy decision of the US Federal Reserve and with global oil prices increasing amid the European Union’s plan to phase out fuel imports from Russia.

The local unit closed at P52.50 per dollar on Wednesday, losing 13.5 centavos from its P52.365 finish on Monday, Bankers Association of the Philippines data showed.

The market was closed on Tuesday in view of Eid’l Fitr.

The peso opened Wednesday’s session at P52.43 versus the dollar. Its weakest showing was at P52.505, while its intraday best was at P52.39 against the greenback.

Dollars exchanged increased to $1.339 billion on Wednesday from $840.7 million on Monday.

The peso weakened due to cautiousness ahead of the Fed’s policy decision, a trader said in an email.

The Federal Open Market Committee is widely expected to fire off a bigger 50-basis-point (bp) rate hike at its May 3-4 review following the 25-bp increase it made in March.

Meanwhile, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort in a Viber message said the peso weakened as global oil prices continued to rise.

Reuters reported that global fuel prices rebounded after the European Union said it plans to phase out imports of oil from Russia. This offset the decline caused by demand worries amid the lockdown in China.

Brent crude futures inched up $2.94 or 2.8% to $107.91 per barrel by 0746 GMT. Meanwhile, the West Texas Intermediate crude futures increased $3.02 or 3% to $105.43 a barrel.

European Commission President Ursual von der Leyen outlined the bloc’s plan for a phased oil embargo on Russia as Moscow continued to invade Ukraine. Ms. von der Leyen said they are looking at phasing out supplies of Russian crude within six months and refined products by the end of the year.

For Thursday, Mr. Ricafort gave a forecast range of P52.35 to P52.55 per dollar, while the trader expects the local unit to move within P52.40 to P52.60. — L.W.T. Noble with Reuters

SB Corp. to offer P6-7B in loans targeting tourism, retail MSMEs

May 4, 2022 | 7:58 pm

01-realtor-agent-freepick — TIRACHARDZ -FREEPIK

THE Small Business Corp. (SB Corp.) said it will launch a new loan program with funding of P6-7 billion designed to help sustain the recovery of micro, small, and medium enterprises (MSMEs).

The program has a target of aiding 42,000 MSMEs, SB Corp. Spokesman Robert C. Bastillo said at a Laging Handa briefing on Wednesday.

The program, known as the Resilient, Innovative and Sustainable Enterprises, Unleash your Powers (RISE UP), launches on Friday, May 6.

SB Corp. is an arm of the Department of Trade and Industry.

According to Mr. Bastillo, RISE UP will offer a multi-purpose loan for multi-sectoral MSMEs, a loan product for small retailers known as Rise Up Tindahan, and a loan product for tourism businesses known as Rise Up Turismo.

Mr. Bastillo said the loan amounts are between P10,000 and P5 million. Eligible applicants must have been in operation for at least a year.

He added that current MSME loan clients in good standing or those that have paid off their loans can borrow up to P10 million from RISE UP.

“Pero ’yung additional P5 million ay meron ng security or collateral kasi lahat ng aming loans hanggang P5 million ay walang collateral (Amounts exceeding P5 million have to be backed by collateral. All loans up to P5 million are unsecured),” Mr. Bastillo said.

Mr. Bastillo said RISE UP follows up on the Bayanihan CARES financing program, launched to aid small businesses affected by the pandemic.

According to the SB Corp. website, Turismo loans are capped at P3 million unless backed by financial statements filed with the Bureau of Internal Revenue, in which case the maximum loan is up to 15% of the prior year’s sales. Loans taken on to purchase assets are capped at 50% of the value of existing assets and up to 80% of the new asset’s purchase price.

Turismo loans charged a 4-8% service fee depending on repayment terms, in lieu of interest. The loan is payable monthly up to four years.

Multi-purpose loans are capped at P300,000, subject to a 20% ceiling set by the value of existing business assets. They are payable in monthly instalments up to three years at an interest rate of 12%.

The website contained no information on Tindahan loans. — Revin Mikhael D. Ochave