Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 5861

Discovery World unit plans P7-B project in Davao City

ONE Davao Townships Corp., a wholly owned subsidiary of Discovery World Corp., announced it is developing an 11-hectare modern community project in Davao City as part of its township expansion plans.

The development is expected to generate up to P7 billion in real estate sales in various phases.

“The planned township will be the first luxury real estate project of its kind as One Davao pushes the region’s potential by integrating residential lots and mixed-use spaces,” Discovery World said in a disclosure on Wednesday.

The project will feature two areas: the West Village and the East Village.

“The West Village boasts of generous land cuts in a spacious yet private area. About 42% of the village will be dedicated to open spaces and amenities for upscale living. Nature-friendly features with a lush, green environment will reward residents with the benefits of outdoor living,” the firm said.

Meanwhile, the East Village will have mixed-use and commercial spaces and will serve as a “leisure hub with all desirable necessities within arms’ reach.”

“Discovery World is coming in strong in Mindanao and will explore more townships and regional developments in the years ahead,” the firm added.

Discovery World is engaged in the hotel and resort business through brands Discovery Shores Boracay, Club Paradise Palawan, and the cruise business through Discovery Fleet. It is a subsidiary of JTKC Equities, Inc., a holding company investing in real estate companies, predominantly in the leisure and hospitality sector.

Apart from One Davao Townships, Discovery World’s subsidiaries include Euro-Pacific Resorts, Inc., Palawan Cove Corp., Discovery Fleet Corp., Cay Islands Corp., Sonoran Corp., Long Beach Property Holdings, Inc., Lucky Cloud 9 Resort, Inc., Balay Holdings, Inc., and Discovery Hospitality Corp.

Discovery World shares dropped by 4.22% or seven centavos to close at P1.59 on Wednesday. — Luisa Maria Jacinta C. Jocson

Celebrating the local

A PLATE of seafood kare-kare, piyanggang pork belly, and adlai on the side at “Flavors of the Philippines” at Brasserie on 3. — PHOTO BY JOSEPH L. GARCIA

Conrad’s Brasserie on 3 gives even international dishes a Filipino touch

ALLERGIES and other health issues aside, it’s hard to repel the spell of a paella-filled lechon and a seafood kare-kare. These and more are exactly what Conrad Manila is serving for the whole month of June at the “Flavors of the Philippines” food festival at its restaurant, Brasserie on 3.

Brasserie on 3 went all out during a launch last week, serving a Sinuglaw — grilled meats and kinilaw (raw fish in citrus and other acids) —  as an appetizer. This was a little bit different, made with crispy chicken skin, pork belly, a seafood ceviche, and tuna inasal (barbecue) skewers. Due to health protocols, guests at the launch were served their food plated, though under normal circumstances, one can get up and get food at the buffet.

Next came a nourishing Balbacua (a slow-cooked beef stew rich in collagen, from it being made with skin and other parts). Finally, the main course arrived: a luxurious spread of Pork Belly Lechon (this one stuffed with paella; the pig itself is double-fried, according to Executive Sous Chef Patricia Mesina), Piyanggang Manok (a chicken dish from Mindanao that uses blackened coconut), and Seafood Kare-Kare. This seafood kare-kare (a peanut-based stew) was very indulgent: no expense was spared, so this one had scallops, lobster, and crab.

“We focused on all the regions of the Philippines, so that’s Luzon, Visayas, and Mindanao,” said Ms. Mesina during a group interview. “Our thrust is local and sustainable. A majority of our ingredients are local.”

The thrust for the local goes beyond the food festival, designed to celebrate Independence Day on June 12. “It’s an international buffet, but we have sections for the Filipino (food),” said Ms. Mesina. She points out that some sushi selections, available year-round for example, have Filipino elements in them, such as in an adobo inari. “As much as possible, we try to infuse local flavors to even international dishes.”

Conrad Manila’s General Manager, Linda Pecoraro agrees, saying “Where possible, we go local.” This goes beyond the food itself, with Ms. Pecoraro citing the exhibits of local artists at the hotel’s galleries. “It’s about being inspiring… during these times, it’s about celebrating the culture, and celebrating the food, and the produce that the Philippines supplies.”

Ms. Pecoraro also talked about how the hotel is doing, after two years of the waning COVID-19 pandemic. “With the MICE (meetings, incentives, conferences and exhibitions) business slowly coming back, and our social business also coming back; [things are] very positive.” Last year, Conrad Manila bagged the award for Philippines’ Best MICE Hotel for 2021 at the World MICE Awards.

Ms. Pecoraro said, “We’re getting there, and business is coming back; I’m pleased to say.”

“Flavors of the Philippines” is available daily for buffet lunch and dinner until June 30, with prices starting at P2,450 net per person. For reservations, call 8833-9999. —  Joseph L. Garcia

PLDT tapped for rollout of 220 public WiFi sites

PHOTO FROM JGSUMMIT.COM.PH

THE PLDT group announced on Wednesday that it was tapped by the United Nations Development Programme (UNDP) and the Department of Information and Communications Technology (DICT) for the rollout of public WiFi in 220 state universities and colleges in the country.

The flagship project aims to “further boost the online and blended learning programs of the education sector,” PLDT said in an e-mailed statement.

The project was launched at the Bulacan Polytechnic College in San Jose del Monte, Bulacan with a simultaneous online screening at Nueva Vizcaya State University on June 7.

The free WiFi project is DICT’s digital empowerment initiative aimed at connecting Filipinos nationwide in accordance with Republic Act No. 10929 or the Free Internet Access in Public Places Act.

Under the law, the project should cover all government hospitals and health centers; national and local government offices; public libraries; public parks, plazas, and other open areas; public schools; state universities and colleges along with TESDA (Technical Education and Skills Development Authority) institutions; and transport terminals.

“Among the key objectives of the Free WiFi project is to contribute to the progress of several SDGs (sustainable development goals). It’s strategic that we partnered with UNDP because it’s clear to them, which of the goals we are targeting,” DICT Acting Secretary Emmanuel Rey R. Caintic said.

UNDP Resident Representative Selva Ramachandra said that part of the organization’s mission is to promote inclusive quality education and to bridge the digital divide, especially in the academic sector.

“This initiative strives to enable public higher education institutions and their students to access and participate in opportunities for economic development.”

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

High-flying Blue Eagles out to sustain flight vs Lady Spikers

NO. 4 SEED Ateneo Blue Eagles celebrate their victory over the Golden Tigresses. — THE UAAP

By John Bryan Ulanday

AMIDST another anticipated turbulence, high-flying Ateneo is out to sustain its flight against no less than its fierce rival La Salle to keep its title retention bid alive in the second phase of the University Athletic Association of the Philippines (UAAP) women’s volleyball tournament stepladder playoffs at the Mall of Asia Arena.

Dragged into an unchartered territory as the lower-ranked squad, the reigning champion but fourth-seeded Blue Eagles defied odds in three straight elimination matches with hopes of extending it anew against the Lady Spikers.

La Salle, as the No. 2 seed, sports a twice-to-beat advantage in the 5 p.m. duel, making it a tougher adversity to overcome for Ateneo.

But the Blue Eagles are ready in a bid to stay afloat with unbeaten National University (NU) that is already in the finals as their ultimate target.

“We will live for another day. We will just do it one game at a time, one day at a time. Hopefully, we will win at the right time and we will win when it matters,” said coach Oliver Almadro after a stunning sweep of No. 3 Santo Tomas.

Buoyed by massive wins against University of the Philippines to gain a tie at fourth and against Adamson in a playoff match to qualify in the stepladder, the streaking Ateneo rolled past Santo Tomas with 25-23, 25-23, 25-20 victory the other night to climb the ladder.

Back in 2014, the Alyssa Valdez-led Blue Eagles also took on a similar path by scaling the stepladder semifinals — against Adamson, twice-to-beat NU and unbeaten La Salle in the finals — as the No. 3 seed for their first-ever UAAP volleyball championship.

It’s far from being replicated as of now, but Mr. Almadro is hoping for his wards to get motivation from that dream run.

“It’s an honor for our team kung maikukumpara sa kanila. What is important is if we can duplicate what they did, we will be thankful to the Lord, and of course, we will be thankful for them for being our inspiration. Sana ma-manifest,” he added.

Banking on a week-long break, La Salle for its part is keen on stopping its rival’s run for good in just one match to arrange a best-of-three titular showdown with NU.

Attaboy tops list of North America’s 50 best bars

PHOTO FROM INSTAGRAM.COM/ATTABOY134/
PHOTO FROM INSTAGRAM.COM/ATTABOY134/

NEW YORK’s Attaboy takes the top spot at the inaugural list of North America’s 50 Best Bars.

Attaboy has already earned its place among other lists by William Reed Business Media: last year, it was No. 34 on the World’s 50 Best Bars list. It has been around for about 10 years, a sort of a spinoff of Milk & Honey in New York. That bar, which opened in 1999, was credited with making speakeasies fashionable again. That bar has since closed; its founder, mixology pioneer Sasha Petraske passed away in 2015. Attaboy’s founders, Mr. Petraske, Sam Ross, and Michael McIlroy, themselves proteges of Mr. Petraske, opened Attaboy in 2012 at Milk & Honey’s former location at 143 Eldridge St., in the city’s Lower East Side.

The list’s notes about Attaboy describes its selection as “perfectly balanced variations of Prohibition-era cocktails.” While the list gives suggestions of various drinks on offer — there’s Ross’ Penicillin (scotch, lemon juice, ginger-honey syrup) and the Greenpoint (rye, green herbal liqueur, vermouth) —  its entry on North America’s 50 Best says, “Of course, none of these drinks can be found on the menu. In fact, there is no menu. Rather, each drink is custom tailored for the guest after a brief conversation.”

During a press conference streamed on the YouTube channel of 50 Best Bars last week, Attaboy General Manager Haley Traub said, “I still don’t believe it.”

“I think what’s most exciting about this is that we can show up and we can do the day-to-day and we can provide the best possible experiences to our guests, and then we can still clock out at the end of the night and you know, be silly bartenders, and have a wonderful time,” she said. “At the end of the day, we know that we’re providing the best possible experiences to our guests and to the people that come through our doors, is honestly all

 

North America’s 50 Best Bars

1. Attaboy, New York
2. Handshake Speakeasy, Mexico City
3. Licorería Limantour, Mexico City
4. Katana Kitten, New York
5. Kumiko, Chicago
6. Café La Trova, Miami
7. Baltra Bar, Mexico City
8. Dante, New York
9. Thunderbolt, Los Angeles
10. Civil Liberties, Toronto
11. Zapote Bar, Playa del Carmen
12. La Factoría, San Juan
13. Kaito del Valle, Mexico City
14. Sweet Liberty, Miami
15. Café de Nadie, Mexico City
16. Hanky Panky, Mexico City
17. Double Chicken Please, New York
18. Service Bar, Washington, DC
19. Raised by Wolves, San Diego
20. Sabina Sabe, Oaxaca
21. El Gallo Altanero, Guadalajara
22. Selva, Oaxaca
23. Amor y Amargo, New York
24. Jewel of the South, New Orleans
25. The Keefer Bar, Vancouver
26. Dear Irving, New York
27. Overstory, New York
28. Herbs & Rye, Las Vegas
29. El Pequeño Bar, Montreal
30. Employees Only, New York
31. The Dead Rabbit, New York
32. Broken Shaker, Miami
33. Friends and Family, Oakland
34. Death & Co (Los Angeles), Los Angeles
35. Mace, New York
36. Death & Co (Denver), Denver
37. Arca, Tulum
38. Mother, Toronto
39. ABV, San Francisco
40. El Floridita, Havana
41. Bar Raval, Toronto
42. Bar Leather Apron, Honolulu
43. Clover Club, New York
44. Bitter & Twisted, Phoenix
45. Cloakroom Bar, Montreal
46. Julep, Houston
47. Bar Mordecai, Toronto
48. Teardrop Lounge, Portland
49. Bar Kismet, Halifax
50. Genever, Los Angeles

Amber Kinetics to produce more energy storage systems

ENERGY storage firm Amber Kinetics, Inc. expects to more than double the production capacity of its manufacturing facility in Sto. Tomas, Batangas with the completion of its second plant by yearend.

“Our current capacity is something like 600-700 flywheels per year. By the time it (new plant) is fully operational, that should be something like 1,800 to about 2,000 flywheels per annum,” Roberto S. Kanapi, the company’s director of business development, said in a virtual media briefing on Wednesday.

Flywheels are the company’s modular kinetic energy storage system with a power capacity of 8 kilowatts and a discharge duration of four hours. They use recyclable steel materials.

Each of Amber Kinetics’ flywheels does not contain nor emit hazardous materials over its design life of 30 years. The company described its flywheel to be a “promising energy solution that does not compromise environment and safety.”

Mr. Kanapi said that the capacity of the second plant is also a function of the number of operating shifts, currently at one to two shifts a day. The facility can accommodate a third shift if needed.

Based in Silicon Valley, Amber Kinetics was founded in 2009 with the aim of helping hasten a transition to a clean energy future through what it claims to be the world’s first and only long-duration kinetic energy storage system.

In 2018, it opened a manufacturing site in the Philippines and has so far invested about $150-$160 million in the country.

With the second plant, the company expects to export its flywheels to other countries that need energy storage systems. Up to 70-80% of the current plant’s output is for the local market, Mr. Kanapi said, adding that a flywheel weighs about 2.5 tons.

“The two countries that we are looking at now, aside from Japan, of course, are Australia and the Philippines,” he said. “Australia is a huge market for energy storage. We were also completely surprised by the potential.”

Locally, Amber Kinetics has established partnerships with the Development Bank of the Philippines and the Department of Science and Technology. Both institutions are exploring emerging energy innovations, providing support to the country’s energy interests, it said.

The company has also set up its Flywheel Innovation Hub, a demonstration facility for flywheel technology at the De La Salle University’s Laguna campus.

Amber Kinetics said its storage system had been installed and commissioned in Australia, China, Hawaii, the Philippines, and the United States. More recently, flywheel units have been deployed and installed in Japan.

“Amber Kinetics provides accessible technology to support the Philippines’ growing renewable energy demands,” the company’s media release said. — Victor V. Saulon

Obiena tests positive for Covid-19, sits out two events

EJ OBIENA — REUTERS FILE PHOTO

CONTRARY to what some would like to believe, the menace that is the coronavirus disease 2019 (COVID-19) pandemic hasn’t fully vanished just yet. In fact, it caught an unwilling victim in Asian pole-vault record-holder Ernest John “EJ” Obiena.

The 26-year-old Mr. Obiena recently tested positive for the global health malady that will cost him two events — the Oslo Bislett Games in Norway and the Meeting de Paris in France this weekend.

“I hate to say it, but I would unfortunately miss these events due to health reasons. To be specific, I contracted COVID-19 a few days ago and I’m quarantining at home right now here in Formia (Italy) at home,” said Mr. Obiena on his Facebook story post on Tuesday.

Mr. Obiena though vowed to come back stronger as he is scheduled to see action in the Taby Stavhoppgala on June 28 and the Bahaus Galan on June 30 in Stockholm also in Sweden.

“Looking forward to see you all in Stockholm,” he said.

Mr. Obiena was coming off a gold medal-winning, record-breaking performance in last month’s Hanoi Southeast Asian Games where he vaulted to 5.46 meters and a triumph at the L’Aquila leg of the European City of Sports meet in Italy where he recorded a 5.85m — his best in this year’s outdoor season.

The World No. 5 would have been on pace in eclipsing his personal best 5.93m had he not contracted the virus. — Joey Villar

Virtual wine tasting: does it work?

Virtual wine tasting — PHOTO BY SHERWIN LAO

I was out with my family one recent Saturday evening to watch the day’s last screening of Top Gun: Maverick, a rare occasion in the last few years that saw us out late at night. What we all observed were the sheer number of people outside, the high volume of cars, the heavy traffic, and the bustling commerce in bars and restaurants —  all indications showing that Metro Manila’s nightlife is back to a pre-pandemic level. Restaurants are busy again even if take-out and delivery are readily available because there are also premiums consumers put on ambiance, presentation, service, and, of course, food served hot and fresh. This could be said in fact more so with wines.

Winery.ph, Boozeshop.ph, Manila-wine.com, Flasked.ph are just some of the most popular online liquor websites that sell a lot of wine, especially during the quarantine and movement-restriction periods. Yet there is a sense that some things are really best experienced in situ. I just feel that wine consumers want to see, and even touch, their wines when they go to their favorite supermarkets or liquor shops.

THE BORDEAUX EN-PRIMEUR EXPERIMENT: POSSIBLY THE BIRTH OF VIRTUAL TASTING
The En-Primeur is the most important business event in the city of Bordeaux. It lasts between eight to 10 weeks. En-primeur, which literally means “in first,” is the practice of purchasing wines in advance of its commercial release. It is also known as “wine futures” and is the same in principle as investing in commodity futures and hedging on price movements of assets.

In this annual event, the Chateaux get advance payments for their wines (18 months minimum in advance), while the buyers, mostly traders, get their wines from this vintage at pre-release prices which are supposedly lower than when the same wines are commercially released.

Other than the wine industry, the whole city is also bustling and directly benefits from the thousands of wine professionals visiting from all over the world and spending euros on hospitality enterprises including hotels, restaurants, and transportation. So, when this COVID-19 curse came upon Bordeaux and France in general, the Bordelais had to do something to salvage this financially critical En-Primeur tradition. Virtual wine tasting, while totally unheard of before, was now a reality.

With a lockdown in place, the only way for the chateaux to get interested buyers to purchase en-primeur wines was to send samples and do what is now commonly known as virtual tastings. Even the Union des Grands Crus de Bordeaux, a powerful group composed of over 130 top-tiered member chateaux from Bordeaux’s top appellations, had members that sent barrel samples to wine traders and critics. Instead of face-to-face barrel tasting and talking with winemakers and chateaux owners, it was replaced by real-time virtual Zoom meetings and distant tastings of samples sent.

The experiment may have worked as the 2020 and 2021 En-Primeur did its job for both the 2019 vintage (primarily because of a price reprieve from growing prices in the past few years) and 2020, another well-priced vintage. But there were also gripes and concerns about the virtual tastings experiment. Aside from suspicions that barrel samples were not the same as the blend of the final wine, which means the tastings done remotely were actually different from the finished product, there were also issues on volatility and noticeable flaws from the samples.

As of this writing, the 2022 En-Primeur for the 2021 Bordeaux vintage had returned to its successful face-to-face pre-pandemic setting and is winding down — and, as I learned from my good friend and resource person Yann Schyler, there is no official start and end to En-Primeur.

I can already sense that the return to a real En-Primeur will be beneficial to the chateaux, with a rather underwhelming 2021 vintage expected to do much better than expected. The mere revival of real and live interactions and tastings between buyers, critics, and the chateaux owners, after two “virtual tasting years” may have a huge influence on the positive reception of the wine trade to this 2021 vintage.

IS VIRTUAL WINE TASTINGS HERE TO STAY?
During the lockdown years of 2020 and 2021, virtual wine tastings were the buzzword among wine companies. In wine-producing countries, from Australia to the US, wine tastings in the cellar doors or winery stores were replaced with virtual wine tastings where customers were sent select bottles of wines in advance of the tasting schedule and were then guided through each bottle by a winery representative through Zoom or Google Meet as scheduled.

For us here in Metro Manila, in lieu of wine dinners, courageous wine companies have offered wine and food sets for scheduled virtual tastings. I believed there were not a lot of successful virtual wine dinners that happened in both 2020 and 2021. Virtual wine tastings are just temporary solutions, but their novelty may end sooner than we think. And let me explain why.

1. No Personal Touch — Virtual tastings are a bit impersonal. You are looking at a screen while you taste wine along with the person on the opposite side of the screen. Wine is and will always be a social drink. Wine needs company, and wine events need people rubbing elbows with each other to be successful. Laughter, smart comments, the sound of clinking glass, and even simple gestures can be missed on virtual platforms when these small things add to the magic of a wine event.

2. Pacing Issue — With scheduled virtual tastings, the pacing is important, and getting every participant in different households, or even from one household, on the same page or pace will always be a challenge. In real-live tastings, there are no distractions as everyone is properly seated and waiting for the host to guide them through each of the wines in the line-up. In a virtual set-up, people can be tinkering with their phones, watching TV, or doing other things since those activities are just second nature when you are in the comfort of your home.

3. Less Selection — With virtual tastings, only select wines are featured and delivered because you cannot overprice a virtual wine tasting event by sending more than three bottles. With more than three wines, the price for a wine package for virtual tasting events may become out-of-reach. Whereas in real live wine events, several wines can be featured, from cocktails prior to the formal dinner, to each wine served with the four or five courses in the meal. With a virtual tasting, it could be just one white, one red, and one sparkling or dessert-type wine.

4. Wastage or Forced Consumption — Since the majority of these virtual wine tastings will deliver full-size bottles, wastage or forced consumption (especially for households of three people or less) is the natural aftermath. In real live wine events, wines are portioned, and it is even hard to get seconds as no extra bottles are normally opened. Unlike spirits which, with their higher ABVs, can be left unconsumed for days, weeks, or months, sadly for opened wines, they need to be consumed in their entirety within the next few hours. Unless, of course, you have some wine preservation gadgets like the expensive Coravin or some inert gas canister to preserve the wine properly. Contrary to popular belief, a screwcap cannot preserve the wine once it has been opened as air would have gotten in already after the opening.

Virtual wine tastings for eager learners are indeed much better than drinking cluelessly. However, this phase should be over once the country opens up and normalcy returns. There is simply no substitute for real live wine events. I want to see up close the rosy cheeks of my fellow wine drinkers and hear the clinking sounds of wine glasses — that is how it should be.

The author is the only Filipino member of the UK-based Circle of Wine Writers (CWW). For comments, inquiries, wine event coverage, wine consultancy, and other wine-related concerns, e-mail the author at wineprotege@gmail.com, or check his wine training website https://thewinetrainingcamp.wordpress.com/services/.

Figaro on track to hit 150 store target by yearend

FIGARO COFFEE FACEBOOK PAGE

FIGARO Coffee Group, Inc. in a disclosure on Wednesday said that it will reach its target of having 150 branches open nationwide by the end of 2022.

“The gradual reopening of the economy gave us the confidence to aggressively expand our presence in more areas in the country. We at Figaro want to be able to cater to new markets that have high demand for quality food products at affordable prices,” Figaro Chairman Justin T. Liu said.

The firm said it is in the process of building 30 outlets in Bulacan, Cavite, Cebu and Laguna, and in more areas in the National Capital Region.

Figaro currently has 120 outlets across the country, which comprise of its brands Angel’s Pizza, Figaro Coffee and Tien Ma’s Taiwanese Cuisine, among others.

“There is a lot of demand in Metro Manila, but we also see a huge potential and a growing area outside the city center. The Philippines is a market that is primed up for growth and we are excited to bring value to a wider audience in our nation,” Figaro Chief Operations Officer Michael T. Barret said.

The company said it is also building more commissaries across the country to support its stores. Its Cebu commissary and main Metro Manila hub are set to be completed in the third quarter of this year.

“Aside from expanding its footprint in the country, Figaro is looking to further grow its suite of products, lining up partnerships with retail giants for 2022,” the firm said.

Figaro has an upcoming collaboration with Waltermart involving two of its brands, Figaro Coffee and Tien Ma’s Taiwanese Cuisine through a dual concept store.

Angel’s Pizza is also set to open more kiosks and branches across Metro Manila.

“People want something new, people want something fun, something affordable. Our main goal really is basically to delight our customers. We do that by ensuring that we deliver high-quality products with good customer service. We understand that by continuing this strategy we will maintain long-term viability,” Mr. Liu added.

At the stock exchange on Wednesday, Figaro shares rose by 1.92% or one centavo to close at P0.53. — Luisa Maria Jacinta C. Jocson

PHL Azkals miss cut in AFC Asian Cup qualifiers

THE Philippine Azkals kissed their Asian Football Confederation (AFC) Asian Cup aspirations goodbye after missing the cutline for the last five tickets at stake in the final round of the qualifiers in Mongolia.

Undone by their 4-0 setback to Palestine on Tuesday night, the Azkals finished with four points in Group B and hoped to still make it as one of the five best second-placers across the six groups.

However, the rest of the No. 2 teams tallied a superior six-point card apiece and nosed out the Azkals for the remaining seats to next year’s Continental showpiece.

Kyrgyz Republic (Group F), Indonesia (Group A), Malaysia (Group E), Thailand (Group C), and Hong Kong (Group D) progressed, leaving the six-ranked Philippines out of it all.

In the fringes with three points entering the last day of pool play, Indonesia and Malaysia came through with crucial victories on Tuesday night over Nepal (7-0) and Bangladesh (4-1) to zoom past the erstwhile fourth-running Azkals and ensure their respective march.

Jordan, Palestine, Uzbekistan, India, Bahrain and Tajikistan earlier clinched the six berths for the group topnotchers.

The 11 qualifiers joined 2015 champions Australia, China, three-time winner Iran, Iraq, two-time victor Japan, Korea, Lebanon, Oman, reigning holder Qatar, three-time ruler Saudi Arabia, Syria, the United Arab Emirates and Vietnam in the main competition.

It’s back to the drawing boards for the Filipino booters, who missed the bus four years after making their historic debut in the Asian Cup.

INDONESIA BOOKS LAST SPOT
Indonesia humbled Nepal 7-0 and Jordan beat former champions Kuwait 3-0 to round out the field for next year’s expanded 24-team Asian Cup finals in the final night of qualifying action on Tuesday.

The final matches of the round in Kuwait City saw Jordan advance as Group A winners on the back of three second-half goals and Indonesia edges out the Philippines as the last of the five best second-placed teams.

Winger Witan Sulaeman scored twice as Indonesia clinched the final qualifying spot against Nepal, who was reduced to 10 men after little more than half an hour when Suman Aryal was sent off for a second yellow card.

Already 1-0 ahead, Indonesia doubled their lead before half time and poured on five more goals after the break to ensure their presence at the continental championships for the first time since they co-hosted in 2007.

Malaysia, who also co-hosted in 2007, had not progressed from qualifying since 1980 but a 4-1 thrashing of Bangladesh in Kuala Lumpur got them in behind Group E winner Bahrain, who sealed top spot with a 1-0 win over Turkmenistan.

The first 24-team Asian Cup will be played in a yet-to-be determined venue after China withdrew from hosting the event due to the coronavirus disease 2019 (COVID-19) pandemic.

Bahrain and Malaysia joined Group B winner Palestine as well as Uzbekistan, Thailand, India, Hong Kong, Tajikistan and Kyrgyzstan in advancing to the finals.

Reigning champion Qatar, Japan, Saudi Arabia, South Korea, Syria, Australia, Iran, Iraq, the United Arab Emirates, China, Oman, Vietnam and Lebanon had already booked their spots.

India took top spot in Group D with a 4-0 win over Hong Kong, who also advanced as second-place finishers.

Anwar Ali gave Igor Stimac’s India side the lead inside the first minute as he fired into the roof of the net before Sunil Chhetri scored his 84th international goal in first half added time.

Late goals from substitutes Manvir Singh and Ishan Pandita completed the rout.

Palestine secured first place in Group B earlier on Tuesday with a 4-0 thumping of the Philippines, while Uzbekistan ensured they would finish top of Group C with a 2-0 win over second-placed Thailand.

Tajikistan finished first in Group F and advanced alongside Kyrgyzstan after the pair shared a 0-0 draw in Bishkek. — Olmin Leyba with reports from Reuters

Dining In/Out (06/16/22)

Crimson Boracay celebrates Pride Month

CRIMSON Resort and Spa Boracay has a full roster of activities and promotions for Pride Month. From fruit-laced cocktails to brilliantly hued sweets and pastries, there’s bound to be a treat to tempt a guest’s palate. Azure Beach Club pours out the bubbly with its Mimosa Festival, where mixologists craft refreshing concoctions with colorful and flavorful juices and sparkling wine. Enjoy unique combos like Watermelon Orange, Mango Blue Pea Citrus, and Pineapple Orange Liqueur; guests may also enjoy these libations at 50% off during happy hour. For those with a sweet tooth, the signature rainbow dessert can be ordered a la carte from any of the resort’s on-site dining establishments, while an array of rainbow pastries add a fresh pop of color to one’s morning at the Saffron Cafe breakfast buffet. Meanwhile, Crimson is cranking up the foam machine for a splashing good time on June 25. Along with the chance to dive into the foam pool, guests can look forward to a fiercely fabulous surprise marked by color, verve, and oodles of style. An al fresco dinner buffet will be served afterwards at the resort’s beachfront to end the day. The day pass rate is P3,500 per head. The Happy to Be Free stay package features buffet breakfasts for two, complimentary transfers to and from the Caticlan airport, special Pride-themed welcome amenities, a Sip and Paint session with resident artist Eric Egualada, a 60-minute massage for two at the AUM Spa, 10% off on dining and spa services, and 50% off on selected cocktails and alcoholic beverages from 3-6 p.m. at the Azure Beach Club. The booking period is until June 30, while guests may stay between June 1 and July 15, 2022. For more information, send an e-mail to boracay.reservation@crimsonhotel.com or visit www.crimsonhotel.com/boracay.   

Father’s Day escape at The Peninsula Manila

FOR FATHER’S Day on Sunday, June 19, The Peninsula Manila thinks it’s fitting that one spoil one’s dad by splurging on an all-star weekend staycation, indulging in Escolta’s Sunday brunch buffet, and holding a one-afternoon-only, pop-up Pen Ultimate Father’s Day Dream Lounge in Salon de Ning. On Father’s Day weekend (June 17 to 19, Friday to Sunday), The Pen offers the “Dad’s the Man” Room Package. In addition to overnight accommodations, Dad can enjoy the many amenities offered, from lounging by the outdoor pool, working out in the fitness center, a buffet breakfast in Escolta, and complimentary entrance Pen Ultimate Father’s Day Dream Lounge in Salon de Ning where he can relax with complimentary cocktails and pica-pica and win prizes. Room rates start at P9,500 for a Deluxe Room (exclusive of taxes). Then there is the Escolta Father’s Day Brunch Buffet on June 19 (Sunday) from noon to 3 p.m. The Father’s Day Sunday brunch comes with a complimentary invitation to Salon de Ning’s Pen Ultimate Father’s Day Dream Lounge. The buffet costs P4,200 (adults) and P2,100 (children under 12) with all prices inclusive of a 10% service charge and prevailing government taxes. Celebrate, indulge, and spoil exceptional fathers with Salon de Ning’s Pen Ultimate Father’s Day Dream Lounge on June 19, 1-6 p.m. The pop-up event will offer complimentary male grooming services from Back Alley Barbershop; have a display of Triumph motorcycles; present For Him skincare from VMV Hypoallergenics whose expert technicians will also provide complimentary hand treatments; show the coolest designer toys from Art Toys PH, and bespoke shirts, suits, and footwear from The Signet Store; rare timepieces from Vintage Grail, collectible vinyls and DJ music; artisanal chocolates from Auro Chocolate; and beer, sparkling wines, and innovative cocktails from Philippine Wine Merchants. Guests availing of the “Dad’s the Man” room package from June 17 to 19 or dining in Escolta for Sunday brunch on Father’s Day, June 19 will enjoy complimentary entry to the Pen Ultimate Father’s Day Dream Lounge. For inquiries or reservations, call 887-2888, extensions 6630 (Room Reservations) or e-mail ReservationPMN@peninsula.com; 6691 or 6694 (Restaurant Reservations) or e-mail DiningPMN@peninsula.com.

Hilton Manila celebrates Father’s Day

HILTON Manila welcomes all Dads with hearty, gastronomic offerings in its award-winning restaurants and bar on Father’s Day on Sunday, June 19. At Kusina Sea Kitchens, an indulgent Father’s Day buffet includes highlights such as Surf and Turf, Dampa-style Paluto, Filipino and Korean BBQ, and a Premium Ceviche Bar, among others. As an added treat, Dad is treated to live musical entertainment. Available for lunch and dinner, for P3,500 per person. Fathers will also enjoy a complimentary bottle of beer on Father’s Day at the Port Bar with any order from the Aussie pub-inspired menu offerings: pizza, pasta, burgers, or other Aussie favorites. Patrons who wish to celebrate in the comfort of their homes may simply leave the cooking to Hilton Manila’s culinary team and “Bring Hilton Home.” This June, the hotel is showcasing a Signature Steak Platter highlighted by a Dry-aged ribeye steak paired with sautéed vegetables and mashed potatoes and complemented by a Father’s Day themed cake, at P5,000. Themed signature cakes are also on sale at Madison with prices starting at P1,500. For inquiries and reservations, call 0917-826-6442, send an e-mail to MNLPH_F&Binquiries@hilton.com or visit www.hiltonmanila.com.

Grand Hyatt Manila presents Merienda Cena

GRAND Hyatt Manila is launching its take on the afternoon with Merienda Cena at The Lounge on June 17. To give the English tradition a twist, pair premium types of tea, coffee, and rosé with an extensive menu showcasing a modern spin on native delicacies made in locally sourced ingredients. These include open-faced sandwiches of lechon sisig with confit egg and liver pâté, fresh prawn with calamansi mayonnaise, beef salpicao with garlic purée and potato strings, and pickled milk fish with beetroot, sour cream horseradish and atchara. There are also traditional homemade scones served with fruit preserves and clotted cream. The spread highlights its baked brie pithivier and seafood cocktails including tuna ceviche and shrimp cocktail. The collection of desserts includes the hotel’s signature cakes — mixed berry shortcake roulade, strawberry cheesecake, mocha hazelnut, almond Florentine cake, mango tart, and lime cream. Diners can also enjoy the live station which serves banana foster, a flambé with Don Papa rum and French toast homemade crème Chantilly, as well as mango sans rival espuma. Entertainment is provided by a piano and guitar duo. Merienda Cena is available every Friday to Sunday, from 2:30 to 6 p.m., for P1,500 net per person and P1,950 net for guests who opt to add free-flowing rosé. Explore the menu at https://qrco.de/bcyDOn. For inquiries and reservations, call 8838-1234 or e-mail manila.grand@hyatt.com.

Crimson Filinvest City celebrates Pride 2022

JUNE is Pride Month, and in honor of friends in the LGBTQIA+ community, Crimson Hotel Filinvest City brings the party to Manila’s southern suburbs with indulgences that bring more than a pop of welcome color to the urban dining and hospitality scene. Alibi Bar and Lounge pumps up the volume and keeps the drinks fresh and flowing throughout the month of June. As the libations keep coming, put on your dancing shoes and get ready to dance up a storm as DJ Mike Lavet pumps the beats that will make guests shanté and stay to sashay the night away on June 9, 17, and 25. Crimson also has three special cocktails for Pride: the coffee-infused Love is Love; Baker J’s La Vie en Rose which is a mix of blueberries, strawberries, and rose syrup; and Purple Paradise at Firehouse Pizza which is a refreshing blend of gin and calamansi liqueur. The hotel lobby has been transformed into a gallery featuring the work of artists Mick Barreto, Drake Pagulayan, Rebie Ramoso, and Nathaniel San Pedro. Titled Color Parade, this exhibition celebrates diversity in all its forms and hues. Get a mouthful of colorful goodness as the team at Baker J offers their latest limited-time offering: the visually stunning and tastebud-tempting Rainbow Croissant. Crimson offers its Stay With Pride staycation package. From P5,500 net a night, guests can enjoy a stay that starts off with a complimentary drink at Alibi Bar and Lounge and a meaningful welcome amenity set up in the room. Along with complimentary items from the minibar, the package also includes a buffet breakfast for two at Café Eight as well as the privilege of checking out as late as 2 p.m. Booking period is up to June 30 only, while the stay dates range from June 1 to July 15, 2022. To reserve or order the Pride Month offerings, call Baker J at 0998-595-3831 or Alibi at 0998-595-3770. Book a staycation at alabang.reservations@crimsonhotel.com or log on to https://www.crimsonhotel.com/manila.

COD’s restaurants mark Father’s Day

THE DINING and entertainment options at City of Dreams (COD) Manila fit the bill for an outstanding Father’s Day celebration. Choices for celebrating abound at the integrated resort. Surprise fathers with a banquet of premium Cantonese and regional Chinese specialties from Crystal Dragon. Located at the upper ground floor of Nüwa Manila, Crystal Dragon curated ala carte specialty dishes for Father’s Day celebrations, which are available from June 13 to 19 only. On their special day on June 19, dads get a sweet surprise at the end of the meal. Spoil him with the all-you-can-eat-and-drink brunch at Nobu which melds Japanese and Peruvian flavors. The brunch buffet price starts at P2,950 net per person for the standard package, inclusive of non-alcoholic beverages and mocktails. For a dinner date option, have dad enjoy a signature Nobu Omakase for June and enjoy a sophisticated eight-course menu. Meanwhile, Haliya highlights an innovative reinterpretation of the Filipino favorite lechon (roast pig) for the whole month of June. Lechon Kawali comes with bagoong pickled cabbage, green mango curd, chili flakes, kinchay (cilantro) and garlic oil, crispy fried kangkong (water spinach), and soy and vinegar dipping; Lechon Paksiw with grilled king mushroom, green chili, garlic confit, garlic chips and microgreens; and Lechon Nilaga with asparagus, cabbage, baby bokchoy, corn, marbled potatoes, onion leeks, pork pata consommé, and micro cress. Finally, the world’s first DreamWorks-inspired family entertainment center invites fathers to have a family day at DreamPlay on June 19. Dads with participating tickets can test their strength at Po’s Five Finger Blast Punch Machine and have a chance to win DreamPlay merchandise. The activity will be held at 3 p.m. Afterwards, make the most out of the occasion and enjoy the interactive play space’s 11 attractions spread across DreamPlay’s 5,000 square-meter space. For inquiries and reservations, call 8800-8080 or e-mail guestservices@cod-manila.com.

Richmonde Hotels mark Father’s Day

THE VARIOUS Richmonde Hotels mark Father’s Day with staycations, gourmet selections, and freebies. At Eastwood Richmonde Hotel, the Eastwood Café+Bar offers Sutukil selections, ribs, roast beef, whole tuna, sushi and maki, a grazing table, and kid-friendly choices at Father’s Day Lunch and Dinner Buffets. Fathers will be served two complimentary rounds of his choice of draft beer, single malt whisky, brandy, or wine, plus he will get a token. And if he’s accompanied by at least four diners on June 19, paying the full rate, his meal is free. The lunch and dinner buffets are priced at P1,500 net per person, inclusive of bottomless iced tea. Children six to 12 years old get a 50% discount while toddlers five years old and below dine for free. For the whole month of June, the hotel is offering a 40% discount on Best Available Rates. At Richmonde Hotel Ortigas, dine with dad at the Richmonde Café where he can indulge in an eat-all-you-can menu of Australian prime rib, homemade bacon, assorted sausages, seafood kebab, Cajun-spiced chicken, pork belly barbecue, and herb-coated fish fillets, at the Meats and More Father’s Day Lunch Buffet. A glass of wine or brandy will also be served just for dad. The buffet is served on June 19, 11:30 a.m. to 2:30 p.m., and is priced at P1,280 nett per person, with a 4+1 deal where for every four paying adults, the fifth diner eats for free. Children six to 12 get half off while kids five and below dine for free. Dads can enjoy a city getaway with the whole family for the weekend of June 17 to 19 for as low as P2,800 net (room only) and P3,400 net (room with breakfast buffet for two). He can work out at the gym, sweat it out in the sauna room, swim laps in the heated indoor pool, and have drinks and gourmet eats at the café. Over at Richmonde Hotel Iloilo, The Granary will serve a Father’s Day Dinner Buffet on June 19, from 6 to 10 p.m. There will be roast rump and lechon slab at the carving table, ox tongue in red wine and pasta Negra at the hot section, assorted dumplings at the dim sum section, fine quality meats at the grilling station, and a whole lot more. There are even unlimited brewskies to go with the meal at the beer station. The buffet is priced at P1,350 net per person. Kids six to 12 years old get 50% off while children five and below are free. For inquiries and reservations, contact Eastwood Richmonde Hotel at 8570-7777 or 0917-821-0333 (Eastwood Café+Bar) and 0917-531-6867/ stay@eastwoodrichmonde.com (Room Reservations). For inquiries and reservations, contact Richmonde Hotel Ortigas at 8638-7777 or 0917-534-4352, 0917-805-3540,  fbsup@richmondeortigas.com (Richmonde Café) and 0917-859-7914 or stay@richmondeortigas.com (Room Reservations). For inquiries and reservations, contact Richmonde Hotel Iloilo at (6333) 328-7888 or 0917-563-3558 (The Granary) and 0917-580-9058 / stay@richmondeiloilo.com (Room Reservations).

New World offers getaways and feasts for Dad

NEW World Makati Hotel highlights a set of rewarding experiences in honor of all dads this Father’s Day, from a relaxing staycation package to an all-you-can-eat lunch or dinner, as well as freshly baked sweets and decadent treats. The hotel is offering an overnight stay in a Deluxe or Residence Club Deluxe room that comes with breakfast for two adults and two kids ages 11 or below, plus a serving of chicken wings and two cans of beer. Dad can also hit the gym for a complimentary workout session to burn off the calories after. Kids can treat dad to a buffet feast at Cafe 1228 on June 19 which features prime rib steak, lechon, ham, fresh grilled seafood, and much more, as well as a selection of beer, wine, and non-alcoholic beverages at P2,250 for lunch and P1,750 for dinner which comes with a special gift. Or, they can have an early celebration on June 18 at P1,488 for lunch and P1,750 for dinner. Prices are net. For Father’s Day, the hotel has come up with the Beer Mug Cake — a brownie base filled with pistachio and chocolate hazelnut spread and Bailey’s cream mousse, topped with light foamy cream. It is available in regular and petite sizes at P1,300 and P300 net, respectively. This can also be packaged in a celebrations box that includes the cake, red or white wine, as well as cigar-shaped dark chocolates with hazelnut cream dipped in milk chocolate for P3,500 net. For inquiries and reservations, guests can call 8811-6888, e-mail reservations.manila@newworldhotels.com, or book a room package directly via the website https://manila.newworldhotels.com/en/.

Dads get free beer and more at Belmont Hotel Manila

BELMONT Hotel Manila dedicates the entire June month to Fathers, with room and dining offers. The “Dad’s Day Out” room package starts at P6,000 and is inclusive of an overnight stay with breakfast at Café Belmont, Margherita Pizza and local craft beer at Rooftop 11, a Father’s Day token from the hotel, and a 15% discount at Café Belmont. This offer is valid for stays for the whole month of June. There are innovative Filipino dishes and more at the Cheers to Dad Sunday Brunch Buffet on June 19 at Café Belmont. Moreover, Dads will get a free glass of beer to go with their meal. The Sunday Brunch Buffet will be available at Café Belmont from 11:30 a.m. to 3 p.m. Prior reservation is highly recommended. Guests can also enjoy visiting Belmont Hotel Manila’s Rooftop 11 which features a swimming pool and bar that overlooks the city. Belmont Hotel Manila is located in Newport City and right across NAIA Terminal 3. To know more about Belmont Hotel Manila, visit www.belmonthotelmanila.com. For reservations, e-mail stay@belmontmanila.com for rooms and dine@belmontmanila.com or call 5318-8888

Tea and pastries for Dad

For the dad who seemingly has it all, express gratitude and admiration by bonding over a cup of TWG Tea and pastries this Father’s Day. Start the day with a bold cup of New York Breakfast Tea. Add a dash of style and novelty to his tea table with tea accessories such as Design Gold Teapot in Black and Vogue Teacup and Saucer. Available in a myriad of bold and vibrant colors, these modern yet functional tea accessories are ideal add-ons to his fine collection of tea accessories. Accompany his morning tea time with pastries from TWG Tea: scones, chocolate muffins, croissants, canelés, financiers, and madeleines. This exclusive Pastry Kit is available for online pre-ordering from June 10 to 13 via bit.ly/TWGTea-FathersDay, and can be claimed at TWG Tea Boutiques in Greenbelt 5, Central Square, and Alabang Town Center on June 17. Limited quantities will also be available for walk-ins.

Treat Dad to Tatatito’s newest steak

TATATITO has added its newest Angus Steak to its menu just in time for Father’s Day. Their newest 480 gm USDA Prime Black Angus Steak comes with a side of vegetables and altogether is priced at P3,750. Tatatito also has an exhaustive wine list menu for guests to choose the perfect glass or bottle of wine for the occasion. Tatatito is on the ground floor of OPL Building on Dela Rosa St. corner C. Palanca in Legazpi Village, Makati. It is open every day from 9 a.m. to 11 p.m. To discover more about the restaurant and its offers, follow Tatatito on Instagram @tatatito.ph and on Facebook as Tatatito. The menu offering is also available online at http://menu.tatatito.ph/.

foodpanda has Father’s Day deals

CELEBRATE fathers in a hassle-free way with foodpanda’s special deals for June. Ordering food? Get 15% off (maximum discount of ₱888) for a minimum purchase of ₱399 valid from June 13 to 19 in select restaurants with varying minimum order values. Opt for pickup and save ₱50 by using the code: PU4DAD with a minimum spend of ₱499 from June 15 to 19. Only valid in select restaurants. Short on ingredients? Order groceries from pandamart and get ₱150 off for every purchase of ₱599 worth of items using the code: FORDAD from June 18 to 19. To save more, buy 2 and get an additional 5% off. Only valid with GCash.Look for gifts at Marks & Spencer, Blade, Miniso, and many other foodpanda shops and get 15% off and save up to ₱120 when using the code: LOVEUDAD, with a minimum spend of ₱599 from June 18 to 19.

Minion mischief is back in McDonald’s

THE MINIONS return with the new film Minions: The Rise of Gru, coming to Philippine cinemas on June 29. The Minions are also returning to McDonald’s stores this month with the launch of the new Minions 2 Happy Meal collection. There are 12 new Minion toys to collect in fresh new Minions-themed Happy Meal boxes. Meanwhile, McDonald’s has also come up with the new Chicken McNuggets 3-Cheese Dip, available for all four-, six- and 10-piece Chicken McNuggets orders. The Minions 2 Happy Meal is now available via dine-in, take-out, drive-through, and delivery.

Honeybon makes special Macchiato Cake for Dad

HONEYBON presents a perfect solution for those searching for the ideal cake for fathers — its Macchiato special. At a budget-friendly price of P780, Honeybon’s Macchiato cake is rich but not overpowering, with a balance of coffee-flavored chiffon and coffee-flavored buttercream icing. On June 18 and 19, Honeybon is also giving free “Happy Fathers Day” cake toppers while supplies last. To order, visit their website at honeybon.ph, call 0991-300-8000, or visit their stores at SM Megamall, Festival Mall, and select Tokyo Bubble Tea stores.

Mister Donut marks Dad’s Day with Mochalicious Donut Cake

MISTER Donut celebrates Father’s Day with the new Mochalicious Donut Cake — a premium choco donut cake with a blend of hazelnut and coffee flavors. The Mochalicious Donut Cake is prepacked with a clear clamshell container and cake liner and can be personalized as it comes with a nice sleeve with space for a dedication or a short message, plus a unique cake topper. The Mochalicious Donut Cake will be available for P85 in all Mister Donut shops from June 13 to 22.

Yields on term deposits climb as market awaits Fed decision

BW FILE PHOTO

YIELDS on the central bank’s term deposits climbed on Wednesday, with market players positioning ahead of an expected aggressive hike by the US Federal Reserve and amid growing inflation pressures at home.

Demand for the term deposit facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) reached P364.664 billion, surpassing the P300-billion offer and the P355.58 billion in bids a week earlier.

Broken down, tenders for the seven-day term deposits amounted to P188.484 billion, higher than the P140-billion auctioned off by the BSP and the P144.719 billion in bids logged last week.

Banks asked for rates ranging from 2.1% to 2.5%, narrower than the 2% to 2.5125% band seen in the previous auction. This caused the average rate of the papers to rise by 9.14 basis points (bps) to 2.4163% from 2.3249% last week.

Meanwhile, the 14-day papers fetched bids worth P176.18 billion, higher than the P160-billion offering but lower than the P210.861 billion in tenders logged a week ago.

Accepted rates for the tenor were from 2.25% to 2.7205%, wider than the 2.245% to 2.55% margin seen last week. With this, the average rate of the two-week term deposits increased by 11.87 bps to 2.5178% from 2.3991%.

“The results of the auction continued to reflect market participants’ anticipated increase in policy rates. Nevertheless, market conditions remain normal, supported by sustained ample liquidity in the financial system,” BSP Deputy Governor Francisco G. Dakila, Jr. said in a statement.

The BSP has not offered 28-day term deposits for more than a year to give way to its weekly auctions of short-term bills with the same tenor.

The term deposit facility and the one-month securities are used by the BSP to gather excess liquidity in the financial system and to better guide market rates.

TDF yields rose ahead of an expected rate hike by the Fed, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

The Federal Open Market Committee is widely expected to fire off at least a 50-bp hike at its June 14-15 review to temper rising prices.

The US consumer price index (CPI) for the 12 months through May rose by 8.6% as gasoline prices and the cost of food soared, leading to the largest annual inflation print since 1981.

Fed policy makers had signaled half-point interest rate hikes at their meeting next week and again in July ahead of the release of the May CPI report.

TDF yields also climbed on inflation concerns following implementation of a wage hike in all regions and a P1 increase in the minimum jeepney fare, Mr. Ricafort said.

Higher wages and transport costs add to a growing list of inflation risks faced by the country.

Headline inflation jumped to 5.4% in May, faster than 4.9% in April and 4.1% a year ago, as food and fuel prices continued to climb amid the prolonged Russia-Ukraine war.

This was the first time the headline print was at the 5% level since 2018.

The National Economic and Development Authority in March said a P1.25 increase in jeepney fares would increase inflation by 0.4 percentage point. A P39 increase in the daily wage in Metro Manila would lead to a one percentage point increase in inflation, it added. — K.B. Ta-asan

1...5,8605,8615,862...13,818Page 5,861 of 13,818
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube