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ICTSI says more upgrades at MICT next year

LISTED International Container Terminal Services, Inc. (ICTSI) on Wednesday said it will carry out more upgrades at its flagship Manila International Container Terminal (MICT) next year.

MICT’s yard utilization is at 63.02% as of September, ICTSI said, noting that this remains “manageable” in light of the pandemic crisis.

“A substantial part of the ICTSI Group’s 2022 budget has been earmarked for [the] MICT upgrades that will further strengthen MICT’s capacity to effectively serve the world’s larger box ships and the increasing volume that comes with a recovering economy,” the company said in an e-mailed statement.

The second phase development of MICT’s Berths 7 and 8 is being fast-tracked, it noted.

“ICTSI is likewise refurbishing Berths 1 to 5 and their backup areas, including the installation of an additional 450 reefer plugs for 40 footers, and upgrading the yards of Berths 1 to 5.”

There is a planned acquisition of eight new hybrid rubber-tired gantries (RTGs) as part of the company’s goal to have an “eco-friendlier” port operation.

“Expected to further improve service levels at the terminal, the new RTGs will further reduce emissions by 50% compared to previous RTGs,” it said.

It also plans to decommission MICT’s first quay crane this year, “which will be replaced over the next three years by three new quay cranes — all capable of servicing larger vessels of over 12,500-TEU (twenty-foot equivalent unit) capacity.”

Moreover, ICTSI reported that its social responsibility arm, the ICTSI Foundation, is leading two environmental initiatives.

“Cameras have already been installed at the mouth of the Pasig River…, as part of preliminary work for the foundation’s partnership agreement with Finnish NGO RiverRecycle to pioneer a sustainable river waste collection system for MICT’s immediate communities,” it said.

“To address the potential issue of ballast water contamination from foreign ships, the foundation and the Diliman Science Research Institute continue to test prototypes for the foundation’s Water Ballast Treatment System Project, which, upon completion, can easily be carried on and off large cargo vessels visiting MICT to decontaminate ballast water prior to release into the sea,” the company added. — Arjay L. Balinbin

Amazon cloud outage hits major websites, streaming platforms

GLENN CARSTENS PETERS-UNSPLASH

A MAJOR OUTAGE disrupted Amazon’s cloud services on Tuesday, temporarily knocking out streaming platforms Netflix and Disney+, Robinhood, a wide range of apps and Amazon.com, Inc.’s e-commerce website as consumers shopped ahead of Christmas.

“Many services have already recovered; however, we are working towards full recovery across services,” Amazon said on its status dashboard (https://status.aws.amazon.com).

Amazon’s Ring security cameras, mobile banking app Chime and robot vacuum cleaner maker iRobot, that use Amazon Web Services (AWS), reported issues according to their social media pages.

Trading app Robinhood and Walt Disney’s streaming service Disney+ and Netflix were also down, according to Downdetector.com.

“Netflix, which runs nearly all of its infrastructure on AWS, appears to have lost 26% of its traffic,” Doug Madory, head of internet analysis at analytics firm Kentik, said.

Amazon said the outage was related to network devices and linked to application programming interface, or API, which is a set of protocols for building and integrating application software.

Downdetector.com showed more than 24,000 incidents of people reporting issues with Amazon, including Prime Video and other services. The outage tracking website collates status reports from a number of sources, including user-submitted errors on its platform.

Users began reporting issues around 10:40 a.m. ET on Tuesday and the outage might have affected a larger number of users.

Amazon has experienced 27 outages over the past 12 months related to its services, according to web tool reviewing website ToolTester.

In June, websites including Reddit, Amazon, CNN, PayPal, Spotify, Al Jazeera Media Network and the New York Times were hit by a widespread hour-long outage linked to US-based content delivery network provider Fastly, Inc., a smaller rival of AWS. — Reuters

Hotel/Travel News (12/09/21)

Peninsula Christmas

Celebrating the holidays at The Peninsula Manila

WITH The Peninsula Manila transformed into a festive destination, enjoy a Manila holiday getaway this season with the special Pen Days of Christmas room package. The magic of the holidays starts when checking into a luxurious guest room or suite where no expense has been spared to ensure the guest’s health and well-being. Junior guests will also be gifted with a story and activity book from Looking for Juan that is the result of years of collaborative efforts with Filipino creatives to promote children’s literacy. For every confirmed stay, The Pen together with Looking for Juan will donate an extra book to children from underprivileged communities. The Pen Days of Christmas room package includes complimentary daily breakfast for two adults and two children ages six to 12 at The Lobby. During the festive staycation, take time to indulge in other award-winning dining, take a dip at the breezy outdoor pool, schedule a work out at The Peninsula Fitness Center, or book a relaxing massage. The Pen Days of Christmas room package starts at P6,500 for a Deluxe Room (inclusive of taxes). For inquiries or further information on The Peninsula Manila’s Pen Days of Christmas room package, call 8887-2888 (trunk line), extension 6630 (Room Reservations), e-mail ReservationPMN@peninsula.com, visit Stories from The Tree | The Peninsula Manila, or talk via PenChat, The Peninsula Manila’s 24-hour e-concierge by using this link: https://bit.ly/PenChatFacebook.

Christmas at Edsa Shangri-La

EDSA Shangri-La, Manila ushers in the yuletide season with a special staycation in a Deluxe Room starting at P6,000++ per night. Enjoy breakfast for two persons, guaranteed early check-in at 8 a.m., in-room wired Internet and Wi-Fi access, complimentary use of the lagoon-shaped swimming pool, Aqua Play and kiddie pool with slide, and access to the world-class Health Club. This offer is available until Dec. 31. The property has also been awarded with the Safety Seal by the Department of Tourism, acknowledging the hotel’s effort to meet protocols and regulations set by the government. For reservations and inquiries, call 8633-8888 or e-mail manilaedsa@shangri-la.com.

Take a private flight to vacation island

TAKE off on a private jet, helicopter, or single-engine aircraft by Ascent Flights Global to the exclusive and all-villa Banwa Private Island. Ascent features more private air options for a luxurious and seamless experience, whether flying directly to the island or through any of Palawan domestic airports. Every charter flight is tailored to the guest’s needs, meticulously organized from inquiry until well after arrival. The most favored and convenient charter flight from Manila to Banwa Private Island is through an eight-seater Cessna Grand Caravan EX seaplane, landing directly on the doorstep of the exclusive resort. Complementing the seaplane and multiple helicopter options, newly available Ascent aircraft include the Cessna Turbo 206H suitable for small groups of up to five passengers and perfect for adventure travels with its versatility and cargo space. Meanwhile, the Cessna 172SP Skyhawk for three passengers is considered as the most successful aircraft for its reliability and comfort. For groups of up to eight passengers, the Swiss crafted Pilatus PC-12NG offers the ultra-modern cabin experience, equipped with what is needed to relax, work or share in-flight moments. For guests wishing to share a private island experience with larger parties of up to 14, the Gulfstream jet is the aircraft of choice. Roundtrip private flight rates start from $5,700 from Manila to San Vicente, the closest airport to the island, with onward journey in a premium sports utility vehicle followed by a short and scenic speedboat transfer to the island. For more information and reservations, contact the reservations team through mobile/WhatsApp: 0917-888-2864, send an e-mail to reservations@banwaprivateisland.com or visit www.banwaprivateisland.com. For air and land transfer inquiries or bookings, e-mail banwa@ascent.flights or visit www.ascent.flights.

Australia weighs central bank digital currency, crypto rules

AUSTRALIA is weighing plans for a central bank-issued digital currency alongside the regulation of the crypto market as it seeks to overhaul how the nation’s consumers and businesses pay for goods and services.

The government will consult on a digital version of cash that will be universally accessible, according to notes from a speech to be delivered by Treasurer Josh Frydenberg in Melbourne Wednesday. At the same time, it will consider a licensing framework that will allow crypto transactions within a regulated environment. It expects advice to be received on both by the end of 2022.

“If we do not reform the current framework, it will be Silicon Valley that determines the future of our payments system,” Frydenberg said in the speech. “These are significant shifts which we need to be in front of.”

The Reserve Bank of Australia and some of its biggest global peers are trying to come to terms with emerging payment technologies pioneered by tech giant including China’s Ant Group Co. Additionally, Meta Platforms, Inc.’s Diem project is building a global payments network that could service its own stablecoin — digital assets that attempt to peg their value to something like the US dollar — or central bank digital currencies.

The rapid growth of cryptocurrencies — which are distinct from digital ones issued by central banks — is posing a potential threat to monetary regimes and adding urgency to debates on handling cross-border money transfers. More than 800,000 Australians have made transactions with digital assets since 2018, according to the Australian Taxation Office. 

Australia needs to nurture the industry as a “hub of innovation,” according to Jonathon Miller, Australian managing director of crypto-exchange Kraken. He is hoping any new regulation won’t go overboard.

“What we’ve seen in other markets, where there’s too heavy a hand, is a rejection of the market,” he said in a Bloomberg Television interview on Wednesday.

The government’s proposed reforms are in response to three separate reviews of the nation’s payments system and similar developments in the UK, Singapore and Canada. Australia is already part of a Bank for International Settlements experiment on the use of central bank digital currencies aimed at creating a more efficient global payments platform.

The RBA said Wednesday it had concluded a project examining the potential use of a wholesale type of central bank digital currency using distributed ledger technology — as opposed to the retail version proposed by the government. The bank said it would continue its research, without saying whether it would launch a wholesale currency. — Bloomberg

Philippine junior chess champions crowned

FIDE Master Alekhine Nouri and Mhage Gerriahlou Sebastian went through contrasting routes to emerge the new champions in the Philippine National Juniors Chess Championships at the PACE in Quezon City late on Tuesday.

Mr. Nouri, 15, needed to just draw his last two games with Ronald Canino and Israelito Rilloraza to clinch the boy’s title while Ms. Sebastian, 15, had to go through the wringer to snatch the girls crown.

Mr. Nouri finished with seven points to fend off Adrian Othniel Yulo’s desperate attempt to catch up with the former.

The 13-year-old Mr. Yulo won his final round duel with Jeremiah Luis Cruz and wound up at second with 6.5 points.

Ms. Sebastian, for her part, smashed Rinoa Mariel Sadey and then saw erstwhile solo leader Ruelle Canino unravel against 2019 title-holder Vic Glysen Derotas to zoom to the top with 7.5 points.

It was a heartbreaking ending for the 13-year-old Ms. Canino, who needed just to draw to rule the tournament bankrolled by PSC chair William Ramirez, NCFP President Butch Pichay, POC President Abraham Tolentino and Chess Movement, Inc. chair Ariel Potot. — Joey Villar

Meralco deploys more electric vehicles

MERALCO.COM.PH

POWER distributor Manila Electric Co. (Meralco) has expanded its green mobility program (GMP) by deploying 69 electric vehicles (EVs) on Tuesday as part of its commitment to reduce greenhouse gas emissions.

The newly launched batch of EVs will cater to the transportation needs of Meralco’s business centers and sector offices.

The batch consisted of cars, vans, pickup trucks, and motorcycles. These will serve business centers in Metro Manila and some neighboring provinces.

All of the company’s service vehicles in the metro are now electric. Before the new batch, nearly 60 EVs are used by Meralco’s field personnel.

“Through the GMP, we express our full support to the Philippines’ transition to electric transportation,” Meralco President and CEO Ray C. Espinosa said in a speech during the launch.

He said as the company looks forward to the government’s enactment of a law governing electric vehicles, which will provide incentives to both EV suppliers and users, “we welcome a greener, cleaner, and safer environment in our streets and thoroughfares.”

In September, lawmakers approved House Bill 10213 or the Electric Vehicle Industry Development Act, which will require government offices and businesses that maintain and operate 20 or more motor vehicles to have 10% of their fleets consist of EVs.

Meralco is targeting to shift 100% of its vehicle fleet to electric.

eSakay, Inc., a Meralco subsidiary, offers end-to-end EV and charging infrastructure solutions to institutional customers and to the riding public to support the program.

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interest in BusinessWorld through the Philippine Star Group, which it controls. — M.C. Lucenio

Twitter to start testing overhauled process of flagging harmful tweets

TWITTER, Inc. will begin overhauling how users report harmful tweets in an effort to make it easier for people to describe what is wrong with the content they are seeing, the social networking site said on Tuesday.

The move, which will begin with a small test of Twitter Web users in the United States, comes amid widespread criticism that tech companies including Twitter, Meta Platforms, Inc. and Alphabet, Inc.’s YouTube are doing too little to shield users from harmful or abusive content online.

Instead of requiring users to report how a tweet violates Twitter’s rules, which presumes knowledge of the company’s policies, users will be asked whether they felt they have been attacked with hate, harassed or intimidated with violence or shown content related to self-harm, among other concerns.

Users will also be allowed to describe in their own words why they are flagging the content, Twitter said.

The process is akin to a doctor asking a patient about their symptoms and “where does it hurt?” rather than “is your leg broken?” the company said.

“In moments of urgency, people need to be heard and feel supported,” Brian Waismeyer, a data scientist on Twitter’s health user experience team, said in a statement.

Twitter added that the new process will allow it to gather more granular information on tweets that do not explicitly violate its rules, but that users might nonetheless find problematic or upsetting, which will help the company update its policies in the future.

It is the latest of recent changes that Twitter has made to improve user safety. Last month, the company said it would begin prohibiting the sharing of “personal media” such as photos and videos without the consent of the person. — Reuters

Cebu Pacific to operate more Manila-Bacolod flights starting Dec. 16

BUDGET carrier Cebu Pacific announced on Wednesday that it is increasing flights from Manila to Bacolod starting Dec. 16 to address the rising travel demand.

There will be a total of 16 Manila-Bacolod flights per week starting Dec. 16, the budget carrier said in an e-mailed statement, noting that there is a “need for additional frequencies in order to reduce fares.”

The airline said it is currently operating Manila-Bacolod flights “9x weekly (1x daily plus 2x weekly for fully-vaxxed [vaccinated] pax).”

Cebu Pacific currently operates above 60% of its pre-pandemic domestic network and capacity. The company expects to operate 84% of its pre-pandemic domestic capacity in 2022.

“To date, about 51.65% of Negros Occidental’s target population have received the first dose of COVID vaccine, based on the data of Department of Health Region 6 as of Dec. 6,” the airline noted.

“To support inoculation efforts, Cebu Pacific will continue to provide a waiver of fees for 5kg excess baggage until Jan. 15, 2022, exclusively for fully-vaccinated passengers flying to and from Bacolod with pre-purchased baggage,” it added. Every Tuesday, the airline also operates a once-weekly flight between Cebu and Bacolod.

“We remain committed to rebuilding the public’s trust and confidence in air travel, and we will continue to collaborate with the government to achieve this goal,” said Michael Ivan Shau, chief corporate affairs officer at Cebu Pacific.

The airline has added more flights to Boracay, Bohol, Cebu, Cagayan de Oro, Davao, and General Santos as a result of the relaxation of travel restrictions. — Arjay L. Balinbin

Visa launches global cryptocurrency advisory service for banks, merchants

VISA, INC., the world’s largest payment processor, on Wednesday launched a global crypto advisory service for clients such as banks and also merchants, as the adoption of digital currencies gains steam.

The move by Visa comes against the backdrop of unprecedented investor demand for crypto services and the company’s latest offering is geared towards financial institutions eager to attract or retain customers with a crypto offering, retailers looking to delve into non-fungible tokens (NFTs), or central banks exploring digital currencies.

Visa’s services include educating institutions about cryptocurrencies, allowing clients to use the payment processor’s network for digital offerings, and helping manage backend operations.

“We came to Visa to learn more about crypto and stablecoins and the use cases that are most relevant for our retail and commercial business lines,” said Uma Wilson, executive vice-president at UMB Bank, a regional US lender.

A new global study by Visa showed nearly 40% of crypto owners surveyed would be likely or very likely to switch their primary bank to one that offers crypto-related products in the next 12 months.

Visa currently uses its network to allow buying, selling, and custody of digital currency. It also offers a credit card that lets users earn bitcoin on purchases and also allows the use of USD Coin, a stablecoin cryptocurrency whose value is pegged directly to the US dollar, to settle transactions on its payment network.

However, for cryptocurrencies such as bitcoin to be used as a medium of exchange, price stability is needed, Visa’s Chief Financial Officer Vasant Prabhu told Reuters.

“If the price is going to fluctuate from $60,000 to $50,000 in a few hours, it’s a very difficult thing for a merchant to accept (bitcoin) as a currency,” Mr. Prabhu said.

“I don’t know if cryptocurrencies like bitcoin will ever be a medium of exchange. Stablecoins will,” he said, adding that Visa would facilitate such transactions when the time was right. — Reuters

Dining In/Out (12/09/21)

Christmas at Edsa Shangri-La

Dine under the stars at Century Park Hotel

AT CENTURY Park Hotel, a unique Unlimited Samgyeopsal experience awaits guests at Al Fresco by Palm Grove for P669 net.  Grill the meats, drink and dine under the stars and relish the relaxing poolside ambience. The package includes unlimited meats (US short beef plate, US Short Ribs, Pork Belly Strips and Marinated Pork Neck), one glass of beer or a cocktail/mocktail, side dishes and one Smore’s set. Seasonal items to watch out for are: Hungarian Sausages, Wienerli, Cheesy Franks, Assorted Taiwanese Balls and Mozzarella Cheese Dip. Guests can also choose from a selection of ala carte items:  Wings and Dips, Smoked Baby Back Ribs, Maldivian Grilled Blue Marlin, Mixed Seafood & Meat Grill Platter and a whole lot more. Al Fresco by Palm Grove is accessed by a Tunnel of Love and enter the giant Bird Cage for a selfie or groufie.  For more photo options there are art walls by the bar, a giant teepee, and the poolside. There is also a Love Locks corner (P150 per pair of padlocks). Al Fresco by Palm Grove is open Fridays and Saturdays from 5-11 p.m. Under the guidelines for staycation hotels, guests must be fully-vaccinated (at least two weeks after the second dose) or have taken a RT-PCR test 48 hours prior to the visit.  This applies to minors as well. Slots are limited so reservations are needed through 8528-8888 local 2500 or 0956-523-2880. For other terms and conditions, visit www.centurypark.com.  

Christmas at Edsa Shangri-La

EDSA Shangri-La, Manila has a selection of holiday indulgences at its restaurants including a three-course set menu at the Lobby Lounge (P2,850 net per person), a five-course set menu at Senju (P2,895 net per person) and a festive set menu by Summer Palace (rate starts at P12,320 net for four persons). If a choice beyond all else is wanted, HEAT’s festive buffet (rate starts at P2,850 net) ensures a wide selection. All offers are available on Dec. 24, 25, 31, and Jan. 1. There is also a Festive Afternoon Tea available daily for the whole month of December at P1,450 net good for two persons. If planning an intimate gathering at home, there are Gourmet on the Move themed set menus available starting at P4,800 net per set while the Roast Turkey set is at P5,800 net per set. All sets are good for five persons. Lastly, The Bakeshop has an assortment of holiday treats. There are specially crafted hampers filled with decadent classics, sweet treats, gourmet goods and more that make a perfect gift. Rate starts at P2,000 net. For reservations and inquiries, call 8633-8888 or e-mail manilaedsa@shangri-la.com.   

Tinapayan Festival offers holiday treats

CELEBRATE Christmas with Tinapayan Festival, a local bakeshop offering soft and sweet baked products. Lucito “Chito” Chavez dreamt to make bread a part of the daily lives of Filipinos through his own brand, Tinapayan Festival. “A lot of us, most especially the bakers in Cuenca, Batangas, produce really great quality baked goods that we should all be proud of. Through all the initiatives and projects led by Tinapayan Festival over the past years, I am hopeful that we are once again uplifting the status of the baking industry in the country,” said Mr. Chavez. For Christmas, Tinapayan Festival has come up with holiday products including Holiday bread (the bakeshop’s signature soft bread topped with glazed fruits), Cheesy Loaf, Queso de Bola Ensaymada, Fruitcake (made with candied fruits, nuts, and spices soaked in brandy for six to eight months, baked three months before Christmas, and sprayed with brandy and sugar syrup every month), Black Forest Loaf, Don Chito’s Triple Cheese Roll (topped with parmesan, Quezo de Bola, French butter, and sugar), Ensaymada Mallorca with Cabello de Angel filling (a softer and fluffier ensaymada bursting in a sweet jam composed of brown sugar, squash, and secret spices). Tinapayan Festival is at 1650 Dapitan St. corner Don Quijote, Sampaloc, Manila; call 8732-2188 or 0961-715-2714 or e-mail at sales@tinapayan@gmail.com to place advance orders. Tinapayan Festival is also available in GrabFood and FoodPanda.

TWG Tea for Christmas

WITH the cold air breezes, fairy lights twinkling across holly-decked halls to the sound of joyous music, it is the perfect time for a cup of tea like TWG Tea’s Red Christmas Tea. Encased in a limited-edition gift box in shades of ruby-red and gold, this theine-free red tea blend with citrus fruits and spices is the perfect tea to while away cozy holiday evenings. TWG Tea has also unveiled exclusive Christmas Gift Sets filled with TWG Tea favorites and tea table essentials. Each gift set features the best-selling teas from the signature Haute Couture Tea Collection, Cotton Teabags, and Loose-Leaf Tea Collections, along with a selection of tea accessories.  Other gift suggestions are its colorful Design Orchid Teapots and Secret Tea Tins, and its Tea Scented Candles for the complete olfactory experience. TWG Tea has also added a special tea cocktail recipe in every gift set. Red Christmas Teabags (P1,355) are available online on TWG Tea eBoutique at LazMall and Trunc.PH, and at TWG Tea Boutiques in Greenbelt 5, Central Square, and Alabang Town Center. Meanwhile, the Tea Christmas Set A (P18,500), TWG Tea Christmas Set B (P15,500) and TWG Tea Christmas Set C (P15,000) are exclusively available on Trunc.PH from Dec. 10-12, and at TWG Tea Boutiques in Greenbelt 5, Central Square, and Alabang Town Center from Dec. 13 to Jan. 31.

Exclusive offers, discounts with McDelivery

MCDONALD’S is leveling up their delivery service with the revamp of its McDelivery app and website, providing customers a swift and stress-free way to get their McDo meals delivered wherever, whenever. Customers can now geotag their location, choose their preferred nearest catering store, see the order status in real-time, and easily reach out to Customer Support through Live Chat. Order fulfillment options like Deliver Now, Deliver Later, Pick-up, and Send to Many are also available. There are now a variety of payment options via Cash-on-delivery, Debit/Credit Card, PayMaya, and GCash. Senior Citizens (SC) and Persons with Disability (PWD) cardholders may now register their respective card details to avail their privileges no matter the chosen payment method. McDonald’s gives its delivery customers McDelivery Exclusives such as access to their Secret Menu, Mega Meals, and various McShare bundles that are available only on the McDelivery App and mcdelivery.com.ph. Customers can also expect exclusive discounts like free delivery fee coupons for all weekends from Dec. 4 to Jan. 2.

Chowking now offering Taiwan’s ‘best milk tea’

CHOWKING is now offering Taiwan’s “best milk tea” brand, Milksha. Also known by the brand name Milkshop in Taiwan, Milksha was voted as the “No.1 Milk Tea Brand” by university students in Taiwan and recognized as “The Best Reviewed” milk tea brand by Daily View, an online media platform in Taiwan. Milksha offers “Fresh, Natural, and Handmade Beverages” by using natural and fresh ingredients, without any preservatives or chemical additives. It uses fresh, high-quality milk as a base for its beverages. Milksha now has over 250 outlets, in Taiwan, Hongkong, Melbourne, Vancouver, and Singapore. Now Milksha beverages are exclusively available over the counter and for delivery in select Chowking stores around Metro Manila. Chowking opened its first Milksha counter in Betterliving in Parañaque in early November, and it will soon be made available in Chowking stores in SM Megamall in Mandaluyong City, Unciano Center and Marcos Highway in Antipolo City, Fairview Regalado and Roces in Quezon City, Annapolis Albany in San Juan, Bonifacio Stop Over and Petron C5 Diego Silang in Taguig City, and Valenzuela City Hall in Valenzuela City. Chowking is offering five flavors of Milksha drinks: Honey Pearl Black Tea Latte, Black Tea Latte with Pudding, Valrhona Cocoa Milk, Signature Taro Milk, and Wintermelon Lemon. The honey pearls are Milksha’s signature toppers. On Nov. 4, Jollibee Group disclosed that it will purchase, through its wholly owned subsidiary, Jollibee Worldwide, Pte. Ltd. (JWPL), a majority stake in the firm that owns Milksha. Jollibee Group will purchase shares equivalent to 51% ownership in Milkshop International Co. Ltd. (Milkshop) for approximately $12.8 million. One of the co-founders of Milkshop will continue to retain the 49% ownership of Milkshop. Chowking is part of the Jollibee Group, one of the fastest-growing restaurant companies in the world.

Selecta launches gift bundles

SELECTA launches the 12 Ways of Christmas, special Gifting Bundles available through local retailers, convenience stores, and online delivery apps nationwide. On the brand’s Facebook page, Selecta shines a light on the different kinds of people — from family and friends, to neighbors, officemates, and delivery riders — to share moments of happiness with this Christmas, as well as the ideal Gifting Bundle to be shared with them. Then there is the Selecta Happinas Map — a nationwide tally created to showcase how simple acts of kindness can create a ripple effect of positivity among people. To join the movement and help spread happiness this holiday season, here’s how to take part in Selecta’s 12 Ways of Christmas: on an online post, tag the loved ones you wish to share ice cream with; use the #ShareHappinas and #GiftHappinas hashtag; purchase Selecta Gifting Bundles through any partner retailer and send them to loved ones through online delivery apps. Each use of the hashtag creates a pin that will appear on the Selecta Happinas Map. For more on Selecta’s 12 Ways of Christmas, visit SelectaPhilippines.com/Happinas to view happy moments across the country.

S&R is now available on GrabMart

STARTING this month, online grocery shopping is made more convenient as membership grocery shopping retailer S&R joins GrabMart. Open to customers within Metro Manila, this partnership allows both S&R members and GrabMart consumers to have easier access to S&R’s wide range of global, local, and S&R Member’s Value products. Consumers can also get their orders delivered to their homes in just 60 minutes. Exclusive discounts and promos are also available for S&R members, granting them the same experience they’d have when visiting an S&R branch. By enrolling their S&R membership cards on the Grab app, members will be able to enjoy bigger savings and access to their favorite global brands. As an added treat, all GrabMart users can enjoy P100 off for a minimum purchase of P1,200 just by using SNR100OFF the next time they check out from S&R on GrabMart. For more details on GrabMart’s partnership with S&R, visit https://www.grab.com/ph/mart/ or visit the Grab app today.

Shares seen to rise as COVID-19 cases stay low

STOCKS may continue to improve in the coming days as coronavirus disease 2019 (COVID-19) cases in the Philippines remain low.

The bellwether Philippine Stock Exchange index (PSEi) advanced by 16.56 points or 0.23% to close at 7,147.30 on Tuesday, while the broader all share index fell by 6.58 points or 0.17% to 3,805.51.

Philippine financial markets were closed on Wednesday in commemoration of the Feast of the Immaculate Conception of Mary.

In the coming days, investors will look at the country’s COVID-19 situation for leads, with window dressing ahead of the year’s close also expected to affect trading.

“Should there be no cases or surge, and if there are no local companies with a big exposure to Evergrande, the market may continue to recover as investors want to start positioning ahead of 2022,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

“Potential window dressing activities as the accounting yearend draws closer, the consistently low COVID-19 cases, and the [bicameral] approval of the national budget would also be another positive lead for the local stock markets,” Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said in a Viber message.

The Department of Health reported on Monday that the country is now under minimal risk as COVID-19 cases continue to drop.

The Philippines logged 356 new infections on Tuesday, bringing the total to 2.84 million. Active cases stood at 13,026.

Meanwhile, China Evergrande did not make payments on some US dollar bonds at the end of a month-long grace period, sources familiar with the situation told Reuters on Tuesday, setting the stage for a massive default by the world’s most indebted property developer.

Failure by Evergrande to make $82.5 million in interest payments due last month would trigger cross-default on its roughly $19 billion of international bonds and put the developer at risk of becoming China’s biggest defaulter — a possibility looming over the world’s second-largest economy for months.

Evergrande was once China’s top property developer, with more than 1,300 real estate projects. With $300 billion of liabilities, it is now at the heart of a property crisis in China this year that has crushed almost a dozen smaller firms.

On the other hand, Philippine lawmakers are expected to ratify the proposed P5.024-trillion 2022 national budget on Dec. 13 before they go on a holiday break, Senator Juan Edgardo M. Angara earlier said.

“PSEi will stay above 7,000 as Omicron-related selling looks overdone,” First Metro Investment Corp. Head of Research Cristina S. Ulang said in Viber message.

Meanwhile, RCBC’s Mr. Ricafort put the PSEi’s next resistance at the 7,200-7,270 levels. — M.C. Lucenio with Reuters

Canada to bar entry for unvaccinated NBA players

THE National Basketball Association (NBA) is gearing up to comply with a Canadian regulation that will bar unvaccinated players from entering Canada as of next month.

The rule takes effect on Jan. 15 as part of the Canadian government’s COVID-related border-crossing policies announced on Nov. 19. The NBA informed teams of the change on Tuesday.

Certain groups that currently are exempt, including professional and amateur athletes, will be required to show proof that they are fully vaccinated.

In the NBA, that applies to teams visiting the Toronto Raptors. An unvaccinated player who is forced to miss a game in Toronto would be subject to a reduction of compensation and a possible fine, suspension or other action, The Athletic reported. The Raptors’ first home game after Jan. 15 is on Jan. 23 against the Portland Trail Blazers. — Field Level Media

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