Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 5626

Dining In/Out (08/18/22)

MOONCAKES

New World’s Jasmine has handcrafted mooncakes

AS part of the Mid-Autumn Festival, Jasmine at New World Makati Hotel celebrates the occasion with an assortment of mooncakes to give to loved ones and friends. These mooncakes come in four flavors — Red bean with double yolk, Red lotus with double yolk, White lotus with double yolk, and Five kernel (watermelon seeds, sesame seeds, pumpkin seeds, walnuts, and peanuts) — encased in gold, yellow, and brown packaging with an embossed gold stamping. These come in a box of two for P1,488 and a box of four for P2,488 net. Jasmine is offering a discount of 10% for Club Epicure members and for bulk orders of 50 boxes or more. Pick-up of orders is until Sept. 30. For more information or to place an order, go to the online order form link: https://bit.ly/NWMJasmineMooncakes, call 811-6888 ext. 3679 or message on the Viber app at 0917-888-4194.

Experience Singapore at Sofitel

DISCOVER and explore Singapore’s diversity of food and culture at Sofitel Manila this month of August. Sofitel Manila brings authentic and widely flexible flavors of the Singaporean cuisine at Spiral and its cloud kitchen’s Spiral at Home and EasyPeasy. The month-long Singaporean fest at Spiral also highlights fusion dishes from China, Malaysia, and India with an elevated menu  Sambal Prawn, Singaporean Chili Crab, Hokkien Mee, and many more. Experience Singapore at Spiral for the whole month of August starting at P3,100 net for lunch, and P3,900 net for dinner. Enjoy a 20% pre-festive treat across Spiral’s 21 dining ateliers every lunch and dinner from Mondays to Wednesdays. Take the authentic flavors from the Singaporean coast and regions to the comfort of your home this month with Spiral at Home’s Singaporean DIY Laksa Kit, available for P750 net, with 50% off when you buy a second kit. Pre-order of at least three days prior to pick-up schedule is required. Try out Singapore’s famous Hawker dishes from Easy Peasy available for the whole month of August. Enjoy the Hawker Bundle set plate featuring Hainanese Chicken Rice and CharKuay Teow. Available for P1,000 net per bundle. For inquiries and reservations at Spiral, Spiral at Home, and Easy Peasy, call 8832-6988 or e-mail H6308-FB12@sofitel.com. You may also order via www.spiralathome.com. You may also order via easypeasymanila.com or via Grab, FoodPanda or Pickaroo.

Grand Hyatt Manila offers mooncake collection

THE GRAND Hyatt Manila welcomes the Mid-Autumn Festival with a luxury mooncake collection in five flavors, handcrafted by the hotel’s Chinese chefs from its premier Chinese restaurant, No. 8 China House. This year’s flavors include the traditional white lotus and red bean, along with contemporary confections such as black sesame, ube (purple yam), and white lotus with salted egg yolk. These sweet and savory creations are presented in an elegantly designed gift box, making it a perfect gift for family, friends, and business partners. The single mooncake is priced at P388 and the box of four is P2,388 net. Grand Hyatt Manila’s Mooncake Collection is available until Sept. 10 at Florentine, located in the hotel lobby. Guests may also order online through Dine at Home at bit.ly/DineAtHomeGHM. For bulk orders with a minimum of 20 boxes, 48-hours notice is required. Receive a complimentary delivery to one location within Metro Manila for 50 boxes and above. For inquiries and orders, call 8838-1234 or e-mail manila.grand@hyatt.com.

Poetry and craft beers at Sheraton Manila Bay

THE PHILIPPINES is a country rich in culture, arts, and cuisine. Sheraton Manila Bay showcases all these and will put the spotlight on all things Filipino with a one night-only event entitled “ALAB: Poetry, Craft Beers, & More,” happening at the hotel’s newest food and beverage hub, &More by Sheraton, on Aug. 25, from 7 p.m. onwards. The event highlights the beauty Filipino language through oral poetry performances by poets of Spoken Word Manila and the beats of the kulintang as performed by Filipina percussionist Tusa Montes. For P790++ per person, foodies and art enthusiasts can enjoy two craft beers from Crazy Carabao and a Filipino-fusion bar chow platter. Diners will also have access to the LikhAngono Painting Exhibition featuring select artworks from youth artists of Angono, Rizal, in cooperation with JAV Talent Unlimited Foundation. &More by Sheraton is located in the Main Lobby of Sheraton Manila Bay, M. Adriatico cor. Gen Malvar Sts. Malate. For reservations, call 5318-0788 or e-mail reservations.manilabay@sheraton.com.

Seattle’s Best collaborates with Beyond Meat

SEATTLE’S Best Coffee has unveiled its newest collaboration with plant-based meat purveyor Beyond Meat: the new SBC Beyond Big Plate, Beyond BBQ Chipotle Burger, and Beyond All-Day Breakfast Wrap. The Beyond Big Plate is a full meal that consists of a freshly cooked Beyond Meat patty served with egg, wheat bread, grilled tomato, and gravy sauce on the side. The Beyond BBQ Chipotle Burger is made with a Beyond Meat patty, chipotle seasoning, BBQ sauce, caramelized onions, and sliced cheddar cheese in a burger bun. The Beyond All-Day Breakfast Wrap is a tortilla wrap filled with sautéed Beyond Meat with cheesy scrambled egg and garlic aioli. Pair these with Seattle’s Best’s Cream Cheese Delight Collection: Hot Java Cream Cheese, Iced Java Cream Cheese, and Mango Cream Cheese Ice Blend. Available in select Seattle’s Best Coffee branches nationwide, these three new offerings can be ordered for dine-in, take-out, pick-up, and delivery through Facebook Messenger, Grabfood, foodpanda, and Pickaroo.

Coffee at the Shang

SHANGRI-LA Plaza mall in Mandaluyong has a plethora of coffee shops. Toby’s Estate (L2 Main Wing) is a favorite among many with its unique design. While there, savor some of their offerings from long black to flat white, or straight up get a single or double at their espresso bar. Then there is 26th Street Bistro by Coffee Bean & Tea Leaf (L5 East Wing) which is conducive to hanging out, and has drinks that visitors keep coming back for, including vanilla latte, caramel ice blended, and ultimate mocha. Darker tones and a sleek design make Bo’s Coffee Primo (L3 Main Wing) a great spot to chill. The brand supports local coffee farmers and social enterprises, so drinking their homegrown brews and signatures like the cold white brew and iced creamy latte allows everyone to help as well. For coffee after dining, Café Lyon (L1 Main Wing) has a pretty extensive beverage list. Savor a macchiato or get something dessert-like such as an affogato once done enjoying their hot dishes or French-inspired menu items. Duck & Buvette (L2 Main Wing) has brought Intelligentsia coffee to Manila. This coffee from Chicago, Illinois, is hailed as one of the big three leaders of the third wave coffee movement. Everyone loves the homey atmosphere and comfort food of Mary Grace Café (L4 Main Wing), and what better way to relax a bit longer than getting a cup of their muscovado cappuccino. Lemongrass (L1 Main Wing) offers rich and flavorful Vietnamese coffee, a satisfying way to end lunch or dinner. In a hurry? Auntie Anne’s (L5 Main Wing) is famous for its pretzels but offers hot brewed coffee roasted by Figaro as well. For the classic pairing of doughnuts and coffee, Cello’s Doughnuts (L5 Main Wing) has every brew from Gibraltar to a dirty latte, while Dunkin’ Donuts (LG Main Wing) is as well known for their doughnuts as their coffee. Krispy Kreme (L1 Main Wing) has quite a line-up of coffee offerings to match their doughnut creations. Of course, there is Starbucks (L6 Main Wing) and Figaro Coffee (L5 Main Wing).

L’OR Coffee now in PHL

L’OR Coffee has officially landed in the Philippines, offering a wide range of products. These come in two formats: L’OR Essenso Instant Mix and L’OR Espresso Capsules. The L’OR Essenso Instant Mix Blends are made from 100% Arabica coffee beans, crafted with microground coffee. Meanwhile, the L’OR Espresso Capsules are especially developed for an intensely aromatic cup, made using airtight aluminum capsules. They are compatible with Nespresso coffee machines. Learn more about L’OR Espresso Philippines on Facebook: https://www.facebook.com/LOREspressoPH.

NLEX Drive & Dine updated

MPT Mobility, the innovations arm of Metro Pacific Tollways Corp., has transformed the NLEX Drive&Dine into a relaxing and must-visit Toll Service Facility (TSF) along North Luzon Expressway (NLEX). There drivers will find a wide selection of premium retail stores, restaurants, a convenience store, and a fuel station. Those who seek a unique retail therapy session will find the Philippines’ biggest Nike Factory Store, Levi’s, Giordano, Casio, A+ Premium Tech Depot, and more. The restaurants include Banapple, Hap Chan, Café France, Brother’s Burger, JT’s Manukan, Yellow Cab, Tokyo Tokyo, Kenny Rogers, and Chowking, and snack purveyors Dunkin Donut, Cinnabon, Macao Imperial Tea, ChaChaGo, Turks, Empanada Nation, and Famous Belgian Waffle. Motorists in a hurry can opt for drive-through fare from fast-food chains like McDonald’s, KFC, and Starbucks. Set to open this year are Subway, Tealive, Fiorgelato, Chimney Cake (the Philippines first branch), and Bloom & Baker. NLEX Drive&Dine also caters to travelers’ comfort with well-maintained and air-conditioned restrooms. It is also is the first TSF to be fully powered by Maya, allowing motorists and visitors to go cashless. The NLEX Drive&Dine is located in between the Valenzuela and Meycauayan exits along Southbound NLEX. Most establishments are open from 8 a.m. to 8 p.m. daily with select stores open 24 hours.

Millennium Cooking adds a twist to cooking shows

KC Global Media Asia announced that the cooking reality show Millennium Cooking Philippines will premiere on Sept. 9, 8:20 p.m. on AXN as well as, AXN Asia’s YouTube channel. Millennium Cooking Philippines is the latest in AXN Asia’s local Original Productions in the Philippines, following My Hometown Is G.O.A.T. (2021) and Project GO (2020). Hosted by actor and celebrity restaurateur Matteo Guidicelli, the show will pit four inexperienced millennials against one another in a series of cook-offs. They will be challenged to recreate dishes demonstrated by three professional chefs. To complete the recipe for disaster and add more mayhem in the kitchen, the chefs will explain the whole process in their native foreign language. Presented by IKEA, Millennium Cooking Philippines was filmed at a kitchen showroom at IKEA Pasay City, the biggest IKEA store in the world. The competition’s winner will win P75,000 worth of IKEA home furnishings in addition to P25,000 in cash and a trophy. Competing are actor Raphael Robes, advertising and creative freelancer Michelle Yu, entrepreneur and vlogger Katrice Kierulf, and corporate executive Sonnie Guerrero. The chefs are Austrian Norbert Gandler of the International School for Culinary Arts and Hotel Management; Korean Lily MIn, author of K-Drama Cookbook (2020) and the entrepreneur behind Lily Lab Authentic K Food; and Swedish chef Andy Andersson, the Food Manager at IKEA Pasay City. Millennium Cooking Philippines will run for  six episodes. Each episode will be uploaded on AXN Asia’s YouTube channel an hour after its television premiere.

Prime Infra appoints former SPEx official to head exploration unit

PRIME Infrastructure Capital, Inc. has appointed Sebastian C. Quiniones, Jr., former general manager and managing director of Shell Philippines Exploration B. V. (SPEx), as general manager of Prime Exploration Pte. Ltd.

“We are pleased to welcome Mr. Quiniones to the Prime Infra team,” said Prime Infra President and Chief Executive Guillaume Lucci in a press release on Wednesday.

He described the appointment as “a reflection of our commitment to ensure that, upon receiving the necessary regulatory approvals and taking over [SPEx], we will deliver outstanding operational performance and further the potential” of the service contract.

According to Prime Infra, the appointment is effective on Aug. 17. Mr. Quiniones also served as SPEx asset manager for which he was tasked to oversee the upgrade of the Malampaya deep-water asset.

It said Mr. Quiniones’ appointment “bolsters the commitment of Prime Infra to strengthening its talent capabilities in the upstream industry as it awaits regulatory consent to acquire the shares of the Malampaya operator.”

On July 29, Prime Exploration signed an agreement to acquire MEXP Holding Pte. Ltd. from a subsidiary of Udenna Corp. MEXP previously inked an agreement with Shell Petroleum N. V. for the 45% stake of SPEx in the Malampaya project.

The acquisition is subject to the approval of state-led PNOC Exploration Corp., which holds 10% of the Malampaya project, and the Department of Energy.

In June, Prime Infra said that it had bought the 45% stake held by a unit of Dennis A. Uy’s Udenna Corp. in the gas-to-power project. The stake was previously held by Chevron Malampaya LLC.

Prime Infra, which is led by businessman Enrique K. Razon, Jr., said at that time that it was “poised to acquire a controlling stake” in the project. — Ashley Erika O. Jose

Tokyo diners nosh on Demogorgon pasta, Eleven’s waffles at Stranger Things café

PHOTO FROM PRONTO-KISSAKABA.COM

TOKYO —  Japanese fans of the sci-fi hit Stranger Things can chow down on demonic pasta and rock out to retro 1980s tunes at a pop-up cafe inspired by the Netflix horror drama.

The shop, a partnership with local restaurant chain Pronto Corp., recently extended its run in the fashionable Shibuya district of Tokyo several months amid overwhelming demand. Stranger Things has remained one of the streamer’s top 10 shows in Japan since the release of its fourth season in May.

The interior has replicas of shops and sets from the show, set in fictional US town of Hawkins, Indiana, along with its dark-mirror underworld that the pre-teen protagonists call the “Upside Down.”

Patrons can take pictures next to the drama’s signature Demogorgon monster while songs from the show, such as Kate Bush’s hit “Running Up That Hill,” play in the background.

Diners can nosh on food inspired by the show, such as squid-ink pasta arranged like the monster’s head or the waffles craved by the psychically powered star character, Eleven.

To reduce the risk spreading COVID-19, now battering Japan in record infections, the café requires visitors to make a reservation and only about 20 are allowed inside every hour.

“Every day at midnight, I have been trying to book a table on my phone,” said 29-year-old mother Kimiko Nakae. “Finally there’s an opening today because someone had cancelled the reservation.”

Tokyo has a long tradition of themed restaurants and cafés, featuring everything from ninja waiters and exotic animals to vampire-inspired cuisine.

But like many tourist-oriented businesses, the sector has been hard hit by the pandemic. The Lockup, a chain of haunted prison eateries, ended a 23-year run when its final location closed last month, joining the fate of the famous Robot Restaurant, a gaudy music and dance spectacle in the red-light district of Kabukicho that closed in March 2020. — Reuters

Cebu Pacific increases Cebu-South Korea flights

BW FILE PHOTO

BUDGET carrier Cebu Pacific (CEB) said on Wednesday that it is increasing the number of direct flights from Cebu to Seoul, South Korea, because demand has gone up.

“Starting Sept. 9, CEB intends to increase its flights from Cebu to Seoul (Incheon) to a daily operation from its current twice-a-week service,” the airline said in an e-mailed statement.

“This ramp-up… reflects the travel demand amongst Filipinos and foreigners,” said CEB Corporate Communications Director Carmina Reyes-Romero.

The budget carrier’s Flight 5J 128 is scheduled to depart Mactan Cebu International Airport at 12:25 p.m. and will arrive at 6:10 p.m. (Korea local time). Its return flight, 5J 129, is scheduled to depart Seoul at 6:55 p.m. and arrive in Cebu at 10:50 p.m. (Philippine local time).

The airline said it currently flies to Cebu from 22 domestic destinations, including Bacolod, Boracay, Butuan, Cagayan de Oro, Calbayog, Camiguin, Clark, Coron, Davao, Dipolog, and Dumaguete.

“With our extensive domestic network in and out of Cebu, we are happy to provide more flight connections to our passengers. We hope this encourages everyJuan to fly more and travel international for less via Cebu Pacific,” Ms. Romero added.

Fuel surcharge is expected to decline from Level 12 to Level 9 next month due to the lower average price of jet fuel.

Level 9 on the Civil Aeronautics Board’s matrix permits a fuel surcharge per passenger of between P287 and P839 for domestic flights and between P947.39 and P7,044.27 for international flights.

On Tuesday, Cebu Pacific Chief Commercial Officer Xander Lao said that the budget carrier “welcomes” the adjustment in the fuel surcharge policy.

“We look forward to the lower fuel surcharge, which should help make fares more affordable and stimulate air travel,” he said in a statement. — Arjay L. Balinbin

More Filipino consumers using business messaging platforms

By Patricia B. Mirasol, Reporter

MORE Filipino consumers are using online messaging platforms to reach businesses, with firms also recognizing the importance of engaging with customers, a study showed.

A 2022 study on business messaging by Meta and Boston Consulting Group (BCG) found that over 40% of Filipinos messaged businesses more frequently now versus before the coronavirus pandemic.

Three in five Filipino consumers also chat with businesses at least once every two to three weeks. This trend was similar across all age groups, particularly among millennials and Gen Zs who message businesses up to eight times a month.

Filipino consumers (71% of respondents) were likewise among the leading adopters of using messaging to chat with a business.

The study titled “Business Messaging: The Quiet Channel Revolution across Tech” surveyed 6,500 respondents across Asia-Pacific (APAC), including Australia, Korea, Indonesia, Taiwan, Thailand, Vietnam, and the Philippines.

“The Philippines has leapfrogged many markets in terms of adoption and engagement online,” said Anthony Oundjian, managing director and senior partner at BCG, in an Aug. 16 media round table.

Mr. Oundjian said bulk of the growth of e-commerce in the country happened during the pandemic.

“I think that Filipinos remain among the most engaged and the faster to adopt new services, once the supply side is ready,” he added.

In the region, one in three consumers in APAC said they chat with businesses at least once a week. Nearly two-thirds (or 65%) prefer contacting businesses through chat rather than through e-mails or calls.

Meanwhile, almost all (or 97%) of businesses recognize that messaging apps are important for success. The study showed businesses have been finding more ways to use messaging to connect with customers, whether it be for inquiries, lead generation, consultative support, re-marketing, or after-sales.

There are differences in customer messages received across industries, Mr. Oundjian said.

“[For] food and beverage, messages are around basic inquiries, feedback, and recurring notifications,” he said. “For products [geared] for mothers and kids, there is more of an [exchange of advice] on the relevance of the products, and the fit to their specific needs, so there’s more personal engagement that can also translate to lead generation and sales.”

More than half of the firms interviewed said they used business messaging for after-sales service. An average of 69% also reported using messaging to process orders and transactions.

“It’s very important that each business thinks about what’s relevant for them, what works, and what can be scaled,” Mr. Oundjian said.

He added that many of the questions in the study (such as how many times respondents went online) were non-platform specific, except for those that asked particulars (such as the respondents’ preferred channels).

“Pretty much anyone who starts messaging sees a dramatic increase in their sales,” said John M. Rubio, country director at Facebook Philippines.

Almost every Filipino is on Facebook multiple hours a day, he said at the Meta-organized event. The Philippines is the leading country worldwide on Messenger, he added.

“More and more people are starting to share stories, do reels…” Mr. Rubio said. “We [have the] ability to stitch that audience and connect them with [business] customers.”

He noted how neighborhood shops can create a storefront on Facebook within a day.

“To get yourself discovered on Facebook, on Instagram, and then be able to immediately translate that discovery into a potential purchase — a direct connection with the customer — is unparalleled by any other platform,” he said.

What’s in a name? Illinois hopes to make invasive carp fish more palatable

Ina Mae’s Copi Po Boy from Chef Brian Jupiter — PHOTO FROM CHOOSECOPI.COM

ILLINOIS is rebranding an invasive carp in the hopes of encouraging people to eat it —  and solving a decades-old issue that has been threatening the ecosystem of the US state’s waterways.

“We’ve launched a new name, ‘copi,’ to help people consume this delicious fish and help us do our work in keeping them out of the waterways,” said Kevin Irons, assistant chief of fisheries for the Illinois Department of Natural Resources (DNR).

Mr. Irons and the DNR want everyone to start calling the abundant fish formerly known as Asian carp “copi.”

“Names mean something,” said Mr. Irons. “Back in the ’70s, there was a fish called ‘slimehead,’ under-utilized, but when you go to a restaurant and get orange ruffi, everybody’s like, ‘oh, this is awesome.’ So, a name means something and it’s the same fish,” said Irons.

The state of Illinois even launched a new website, choosecopi.com, where facts, nutritional information and recipes for the fish are provided.

“Anything you do with ground meat you can do with copi,” said Dirk Fucik, owner of Dirk’s Fish and Gourmet Shop in Chicago.

Mr. Fucik says he’s been selling the fish in his store since 2010. “So, burgers are most popular for us here, but… we’ve done sausage, tacos, all that kind of stuff. Everything we’ve made people like.”

Since 2004, over $600 million in state and federal funds have been fed into fixing the problem of the invasive carp.

Irons says Illinois also intends to ask the US Food and Drug Administration to formally change the name and is planning to register “copi” as a trademark. — Reuters

SPNEC to use raised funds to buy land for solar plant

SOLAR Philippines Nueva Ecija Corp. (SPNEC) is allotting proceeds from its various capital raises to secure 2,500 hectares for its 3.5 gigawatts (GW) of solar farm project in Nueva Ecija and Bulacan.

“By the end of this year, our planned share issuances should result in the consolidation of ingredients that would enable SPNEC to expand its flagship project,” said Leandro L. Leviste, president and chief executive officer of SPNEC, in a media release on Wednesday.

SPNEC claimed that its expansion of operations in the area would be the world’s largest solar farm with a combined capacity of 4 GW and would also surpass the capacity of the total grid-connected operating solar plant in the Philippines at over 1.3 GW.

The company has secured an expansion of operations in the same area of land for its 500-MW solar project, for which the first 50 MW and the transmission for the full 500 MW are under construction.

According to SPNEC, the scale is made possible by Solar Philippines Power Project Holdings, Inc. (SPPHI), its parent firm, which secured land and permits for the said project in 2016, when (SPPHI) applied for its first Department of Energy solar energy service contract in the area.

In an earlier disclosure, SPNEC said that it targets to complete its asset-for-share swap deal with SPPHI by the end of this year, with its stock right offering to be completed in September.

SPPHI and SPNEC signed the share-swap agreement for the issuance of around 24.37 billion shares at P2.50 apiece. Once executed, SPNEC would acquire shares of SPPHI in a portfolio of projects. — Ashley Erika O. Jose

TDF yields climb on tepid demand, rate hike bets

BW FILE PHOTO

YIELDS on term deposit climbed on Wednesday as the longer tenor on offer was undersubscribed, with the market awaiting the Bangko Sentral ng Pilipinas’ (BSP) policy meeting, where it is expected to raise rates anew.

Total bids for the central bank’s term deposit facility (TDF) reached P290.814 billion, barely filling the P290-billion offer but below the P335.344 billion in tenders last week.

Broken down, the seven-day papers fetched bids amounting to P204.946 billion, higher than the P170-billion auctioned off by the central bank. This was also above the P196.194 billion in tenders logged in the previous auction.

Banks asked for yields ranging from 3.49% to 3.75%, a narrower and higher margin compared with the 3.38% to 3.6888% band seen a week ago. This caused the average rate of the one-week papers to rise by 12.9 basis points (bps) to 3.6913% from 3.5623%.

Meanwhile, demand for the 14-day term deposits amounted to just P85.868 billion, below the P120-billion offering as well as the P139.150 billion in tenders recorded on Aug. 10.

Accepted rates for the papers were from 3.5% to 3.75%, marginally slimmer than the 3.48-3.75% range seen last week. With this, the average rate of the two-week papers inched up by 2.57 bps to 3.7019% from 3.6762% in the previous week’s auction.    

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

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

“The results of the TDF auction reflect market participants’ continued preference for the shorter tenor given expectations of another rate hike by the BSP and the issuance of retail Treasury bonds,” BSP Deputy Governor Francisco G. Dakila, Jr. said in a statement on Wednesday.

“In addition, higher loan releases by banks point to lower excess liquidity for placement with the BSP’s deposit facilities. Going forward, the BSP’s monetary operations will continue to be guided by its assessment of the latest liquidity conditions and market developments,” Mr. Dakila added. 

Yields on the term deposits were higher a day before an expected rate hike from the BSP, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

“Investors are happy because yields are moving closer to the inflation rate. In relative value, yields are becoming more active for investors,” Bank of the Philippine Islands Lead Economist Emilio S. Neri, Jr. said in an interview on Wednesday, adding that there is excess liquidity in the market.

BSP Governor Felipe M. Medalla on Wednesday said the Monetary Board could hike benchmark rates by as much as 50 bps at their Aug. 18 meeting and that they are not ruling out further increases this year.

A BusinessWorld poll held last week showed 16 out of 18 analysts expect the BSP’s policy-setting Monetary Board to hike rates anew on Thursday, with most analysts forecasting a 50-bp increase as inflation remains elevated.

Headline inflation quickened to 6.4% in July, a near four-year high. This was also faster than the 6.1% in June and 3.7% a year ago.

For the first seven months, inflation averaged 4.7%, higher than the 4% seen in the same period in 2021 and the central bank’s 2-4% target for the year but lower than its 5% forecast.

The Monetary Board has raised rates by a total of 125 bps since May, including a 75-bp off-cycle hike last month. — Keisha B. Ta-asan

Globe Business seeks digital transformation partnerships with more MSMEs

By Arjay L. Balinbin, Senior Reporter

GLOBE GROUP’s Globe Business on Wednesday said it is currently reaching out to more micro, small and medium enterprises (MSMEs) in the country to accelerate their digital transformation.

“Globe Business seeks to go beyond the surface by helping MSMEs with innovations that accelerate business growth, expertise that guides businesses forward, and… care that supports their journeys, so they can achieve more business breakthroughs,” said KD D. Dizon, head of MSME Group at Globe Business, during a virtual media event.

“We recognize the pain points of these MSMEs. To help them prevail, we provide innovative solutions that accelerate business growth,” she added.

MSMEs, which make up 99% of the country’s businesses, help reduce unemployment by creating jobs. They employ 63% of the country’s total work force.

“We believe that if we help them succeed, we also help our nation succeed,” Globe Telecom, Inc. President and Chief Executive Officer Ernest L. Cu said.

Among Globe’s digital offerings are business-grade connectivity plans from GPlan Biz and GFiber Biz.

GPlan Biz is one of Globe’s connectivity plans intended for MSMEs.

“Aside from its basic mobile connectivity features, [GPlan Biz] allows users to use GCash for business to purchase digital solutions or pay suppliers conveniently, among others,” Globe Business said.

“Subscribers can enjoy unlimited 5G network for six months as well as unlimited text and call to all mobile networks and landlines nationwide,” it added.

Meanwhile, GFiber Biz Plus is a business-grade broadband plan that promises seamless online activity for MSMEs.

“It also comes with two pieces of Wi-Fi mesh that help strengthen internet coverage in different parts of an establishment, and unlimited calls to all mobile networks and landlines nationwide, allowing entrepreneurs to be worry-free of top-up call charges,” Globe Business said.

Vehicle Tracker is another digital solution that allows MSMEs to manage their fleet and ensure safe delivery with real-time monitoring feature.

Globe Business also introduced its Cloud Payroll, which automates employee records and fast-tracks payroll processing, as well as ChatGenie, which lets MSMEs manage their transactions across different channels on one platform.

Filipino recipe book distributed to indigent families

PAGHILOM sa Pagkain, a printed recipe book focusing on daily nutritional needs, was distributed to indigent Filipino families residing in Barangays 42 and 45 of Pasay City and Barangay 745 of Manila to help them receive proper nourishment amid the trying times. In celebration of the recent National Nutrition Month, the 28-page book provides alternative ingredients and cooking methods to traditional Filipino dishes. It features easy-to-follow cooking instructions for wholesome meals such as Tortang TOkra, KaMalunggay Tuyo sa Gata, Gulay Tempura, Pechay Baguio Guisado, Pakbet Kubo, and Meaty Potato Green Beans. It likewise includes procedures in preparing healthy merienda options such as Pancit Bihon, KamoBasa Chips, Turones de Kamote-Malungay, Munggo Croquette, and Beefy Omelette. Produced by the Center for Social Action of the De La Salle-College of Saint Benilde, the recipes, which utilize basic ingredients that are available and affordable in the local markets, were created by registered nutritionist-dietitian and Benilde School of Hotel, Restaurant, and Institution Management educator Dr. Teddy Manansala. Paghilom sa Pagkain also includes Pinggang Pinoy, a visual tool that uses a familiar food plate model to picture the right food group proportions on a per-meal basis to meet the energy and nutrient needs of adults. Pinggang Pinoy was developed by the Food and Nutrition Research Institute of the Department of Science and Technology in collaboration with the World Health Organization, Department of Health, and National Nutrition Council to aid Filipino adults to adopt healthy eating habits through dietary lifestyle messages.

CTA declines to review marketing firm’s refund claim

CTA.JUDICIARY.GOV.PH

THE Court of Tax Appeals (CTA) has denied TKH Marketing’s appeal to refund an item shipment due to an excess value-added tax (VAT) payment worth P1.5 million.

In a 15-page decision on Aug. 8 and made public on Aug. 15, the CTA Special Third Division said it did not have jurisdiction to decide on the refund claim.

“Clearly, petitioner (TKH Marketing) failed to fulfill the requirements of the law in claiming a VAT refund, thereby resulting in the lack of jurisdiction of this court,” CTA Associate Justice Maria Belen M. Ringpis-Liban said in the ruling.

“In other words, the burden of collecting the subject VAT remains with the CIR (commissioner of internal revenue). As such, it is the CIR who has the authority to decide on the refund claim of petitioner pursuant to Section 4 of the NIRC of 1997.”

A district collector granted a refund of the excess VAT payment in the amount of P958,725 and required the firm to properly liquidate and apply for a tax credit certificate pending the approval of the commissioner of customs (CoC).

The CoC affirmed the district collector’s decision and forwarded the appeal to the CIR.

The refund claim was then reviewed by the CIR, which the official denied since the appeal was filed beyond the two-year prescriptive period under the country’s revenue code.

“As stipulated therein, recovery of tax erroneously or illegally collected may, within 2 [sic] years after the payment of the tax or penalty was made, be claimed as tax credit or refund,” the CIR said in a letter to the CoC.

Under the country’s revenue code, refund of taxes or penalties are allowed unless the taxpayer files the administrative claim in writing with the CIR within two years after the payment.

The marketing firm argued the tax court and the Bureau of Customs had jurisdiction over the issue.

The court noted that the protest filed with the district collector cannot be treated as a claim for a refund since only the CIR has jurisdiction over these claims.

In a separate letter, the Bureau of Internal Revenue said the CTA did not have jurisdiction over the petition, reiterating the late filing of the claim.

“If the court has no jurisdiction over the nature of an action, its only jurisdiction is to dismiss the case. The court could not decide the case on the merits,” said the tribunal. — John Victor D. Ordoñez

Cebuana Lhuillier aims to expand network, services

BW FILE PHOTO

CEBUANA LHUILLIER plans to strengthen and expand its business in the country by offering products and increasing its branches in provinces to bring financial services to the underbanked and unbanked.

“We already have more than 3,000 branches across the archipelago, with 500 branches due to open before the year ends. On top of these branches, we have a network of 25,000 domestic partners nationwide and 1.7 million international partner doors for our money transfers business,” Cebuana Lhuillier Integrated Marketing and Communications Group Head Emirosco “Michael” R. Sena said in an interview with BusinessWorld last week.

“This expansion to more than 3,000 branches is based on market need, targeting areas where immediate cash solutions are needed,” he added.

Mr. Sena said the limited availability of locations, especially in rural areas, remains a challenge in the pawnshop chain’s current network expansion.

He said even as a lot of transactions have shifted online, their clients still want to go to physical branches.

“Our experience in the last three years proved that the ‘next normal’ is not purely online, because the reality is, here in the Philippines, many rural communities are still dependent on the physical branches in doing their transactions,” Mr. Sena said.   

“What we’re doing in ensuring that our products and services are easily available through online platforms while also making sure that we have a strong network of physical branches that will complement and complete the online-offline journey in transactions,” he said.

This strategy of using both online and offline platforms or technology and brick-and-mortar stores to deliver its services is called “TechBrick” by Cebuana Lhuillier President and CEO Jean Henri Lhuillier, the company said in a statement on Wednesday.

“Cebuana Lhuillier’s core mission is to break the barriers in finance through effective financial solution offerings. Our TechBrick strategy allows us to make our products and services available on demand, while optimizing our robust network reach in over 3,000 branches in the country,” Mr. Lhuillier said.

The company developed the Cebuana Xpress app for pawning transactions, the Quikz mobile remittance app, and the eCebuana app, which gives customers access to banking services within the Cebuana Lhuillier ecosystem.

It has also made its microinsurance products available online via ProtectNow, a web-based e-commerce platform.

Mr. Sena noted in the interview that the market has become homogenous since the coronavirus pandemic as there is no single brand that captures the market.

“Rather, transactions now flow from one channel to another, from one provider to another,” Mr. Sena said.

EXPANDED PRODUCTS
The official said Cebuana Lhuillier also plans to expand its microinsurance business to add more lifestyle products, including life, health insurance, and pet insurance, among others.

The company is also working on expanded access to purchasing jewelry, pushing for jewelry as a form of micro-investment, Mr. Sena said.

“In essence, what we’re trying to do is open a complete portfolio of products and services that will complement every Filipino’s financial inclusion journey, from loans to microinsurance, from money transfers to saving and even microinvestments (jewelry selling), eventually encouraging each and every one of our kababayans to save and invest for their future,” he added. 

He noted that the pawnbroking industry has evolved through the years. Pawnshops such as Cebuana Lhuillier now offer micro financial services such as remittances and bills payment and also serve as cash agents.

“Pawnshops also became financial touch points for the Filipino masses, for small businesses, and even an access point for government amelioration programs. This became more evident during the pandemic where Filipinos flocked to pawnshops for quick access to cash,” Mr. Sena said.

“As the business evolved through the years, what remained consistent was our mission of financial inclusion for every Filipino. It is this mission that serves at the core of the many innovations introduced by Cebuana Lhuillier through the years, as we strive to provide access to essential financial services to the Filipino masses anytime, anywhere,” he added. — Keisha B. Ta-asan

1...5,6255,6265,627...13,859Page 5,626 of 13,859
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube