Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 5975

Amazon launches ‘screen on wheels’ robot called Astro

AMAZON.COM, Inc. on Tuesday unveiled a home robot called Astro, a screen on wheels that works with the company’s Alexa voice software.

The bot, which Bloomberg first reported was in development in 2018, was shown at an Amazon product event on Tuesday checking on pets while a user was away and following a child through the home during a video call. It can autonomously patrol the home and respond to voice commands, and will cost $1,000 for invited shoppers later this year.

The device’s screen, which by default displays a pair of circles to imitate eyes, is capable of traveling about a meter per second. Embedded cameras help the robot map its environment and navigate, and Astro also includes a periscope to expand its field of view.

“Customers don’t just want Alexa on wheels,” said Dave Limp, Amazon’s devices and services chief. “We’ve embodied it with a unique persona that’s all its own.”

Mr. Limp said the robot is part of an Amazon program that makes devices still under development available. Astro will be sold on an invitation-only basis at an introductory price of $1,000. After that, it will cost $1,500, the company said. Shares of iRobot Corp., maker of Roomba vacuum cleaners, fell slightly.

The Seattle-based company has come a long way as a hardware player since a failed foray into smartphones a few years ago. Amazon has built a massive electronics business around its voice-controlled Echo smart speakers and accompanying Alexa software. Amazon has held new product unveilings in each of the last several years, an effort to position itself at the center of the burgeoning market for smart-home gadgets.

The company doesn’t release financial or operational results from its devices and services group, but Euromonitor International estimates Amazon’s gadget line is the third best-selling brand in the US by unit sales, trailing only Apple, Inc. and Samsung Electronics Co.

The vast majority of the products, however, are relatively inexpensive gizmos such as Fire TV streaming sticks or miniature Echo speakers. In Astro, Amazon, a company with a reputation for scrappy and utilitarian hardware, has set up its biggest test to date: selling a premium product with an eye-watering price tag.

Several of Amazon’s other updates announced on Tuesday, from professional monitoring of Ring video cameras to an elder care application and new voices for Alexa, were geared toward adding paid or subscription services to Amazon’s popular products.

The latest products and services include:

• A smart thermostat in partnership with Honeywell International, Inc. The $60 device, which will sell for as little as $10 with rebates, is a potential competitor to Alphabet, Inc.’s Google Nest.

• An Echo device with a wall-mounted 15-inch screen that can stream Prime Video and Netflix, display calendars and comes with a custom-built chip to help process voice commands.

• A tie-up with the Walt Disney Co. to put Echo devices in the company’s theme parks and hotels. Expected next year, they’ll be equipped with new software, called Hey, Disney!, built on the technology behind Amazon’s Alexa. That will enable visitors to interact with Disney characters and summon Alexa for other tasks. People with Echo devices at home will also be able to buy the functionality for their own devices.

• A new version of its fitness tracker, called Halo View, that incorporates a small screen for the first time. It will cost $80, Amazon says. A new service, called Halo Fitness, targets major users of wrist-worn devices. Peloton shares fell on the news.

• Glow, a device that combines an 8-inch screen for video chatting with a projector that displays images on an adjacent 19-inch “touch-sensitive” projection area. The pitch is for kids to connect with loved ones by doing puzzles or drawing together. Available to begin with an invite-only basis, the device costs $250.

• Ring is moving beyond its roots in do-it-yourself home security, releasing a set of products targeting the market for professional security services.

Amazon’s devices unit has been a frequent target of criticism, from privacy advocates who question the wisdom of always-on microphones in the home, and civil liberties groups alarmed by Ring’s partnerships with police departments and security practices. Those doubts haven’t derailed Amazon’s sales.

Meanwhile, the company has worked to burnish its privacy credentials, offering Alexa users more granular options to delete voice recordings captured by Amazon devices, encrypting videos picked up by Ring, and asking police departments to publicly request footage they want for investigations. An update announced on Tuesday and coming to some Echo devices will enable processing of user commands on the device itself, removing the need to transmit that data to Amazon’s servers.

Amazon earlier this month announced its first line of televisions, as well as an update to its Kindle e-reader line. Bloomberg News reported last week that Amazon was working on a larger Echo with a wall-mountable screen, a TV sound bar, and more advanced smart-speaker technology for use in cars. The company has also considered developing an Alexa-powered wearable device for children.

In a video accompanying Amazon’s presentation, devices executive Charlie Tritschler described the impetus to start developing the Astro robot. “In one of the senior management meetings, we talked about, ‘Does anybody in the room think that in five, 10 years, you’re not going to have robots in your home?’” Mr. Tritschler said. “And everybody’s like ‘Yeah, we are.’ So we said, ‘Well, let’s get started.’”

Added Gregg Zehr, president of Lab126, Amazon’s skunkworks hardware unit: “This is our first robot, not our last robot.” — Bloomberg

Hong Kong’s Michelin starred restaurants await international diners

WHILE the ongoing COVID-19 (coronavirus disease 2019) pandemic keeps travel off of most people’s plates, Hong Kong is reminding potential visitors why it should be on their menu once travel restrictions ease up and tourism starts.

Hong Kong is considered one of the culinary capitals of the world. From simple local delights at cha chaan teng (local cafes), to classic Cantonese dishes at dai pai dongs (street stalls), to sophisticated wine dinners at Michelin-starred restaurants, Hong Kong has it all. And this is an aspect that future travelers are being reminded about through Hong Kong Chefs’ Playbook, a new series featuring Michelin star chefs and their love affair with Hong Kong. The series is now available for streaming, with the first two episodes, Yau Ma Tei with Vicky Lau and Wong Tai Sin with Shane Osborn now available at Discover Hong Kong’s website, Hong Kong Chefs’ Playbook | Hong Kong Tourism Board (discoverhongkong.com)

The city’s reputation as a gastronomic destination was cemented in 2009, when the Michelin Guide debuted in the city, bestowing 31 stars on 22 top restaurants.

“The Michelin Guide championed Hong Kong’s culinary scene by highlighting the high standards of Cantonese cuisine. In 2009, the guide recognized Lung King Heen with three Michelin stars, it was the first and only Chinese restaurant in the world at the time to receive such recognition, which helped to put Cantonese cuisine on the map,” said Nicolas Achard, Managing Director of Michelin Food & Beverage Asia.

Today, Lung King Heen still holds three Michelin stars, making it the Chinese restaurant with the longest three-star winning streak in 12 consecutive years.

The Michelin Guide has not only shone a spotlight on Hong Kong’s culinary excellence and boosted the Hong Kong F&B (food and beverage) scene, but also inspired many aspiring young chefs to seize the opportunity to experiment with ingredients and innovate new cooking techniques in the kitchen.

One of these chefs is Vicky Cheng.

Hong Kong-born Mr. Cheng, who trained in the culinary management program at George Brown College in Toronto, returned to Hong Kong in 2011. He set up VEA in 2016 and won a Michelin star in its first year of operations. Barely 36 years old at the time, Mr. Cheng created waves with his fusion concept of “Frenchifying Chinese food.”

Young chefs are also encouraged to be more creative, as evidenced by Vicky Lau of Tate Dining Room who is the only female chef in Asia to be awarded two Michelin stars in the 2021 edition. Using Hong Kong as a source of inspiration, Ms. Lau has created “Ode to” menus, in which she focuses on ingredients essential to Chinese cuisine. These include explorations of tea, tofu, and soy sauce.

Hong Kong-born chefs like Ms. Lau and Mr. Cheng who are trained in French cooking techniques are keen to pay homage to their roots by experimenting with local ingredients and food products and creating an East meets West taste with their dishes. This can be as simple as the humble egg waffle with scoops of ice cream and chocolate sauce, to steamed buns filled with creamy salted egg custard filing, to Mr. Cheng’s roasted sea cucumber on a bed of tiger prawn sauce.

But there is more to Hong Kong than Cantonese cuisine.

As an example, look at 8 ½ Otto e Mezzo BOMBANA, which is the first and only Italian restaurant outside Italy to be awarded three Michelin stars. Head Chef Umberto Bombana, who has lived in Hong Kong for almost three decades, loves the energy, convenience and cosmopolitan feel of Hong Kong.

Another notable restaurant would be New Punjab Club, which has elevated Punjabi dishes to new heights. With menu items like tandoori venison washed down with mango lassi, it is also the world’s first Pakistani restaurant with a Michelin star.

Hong Kong’s vibrant dining scene has also attracted many international chefs to set up shop in the city. One of them is chef Shane Osborn who came to Hong Kong in 2012 and opened St. Betty before setting up his own place, Arcane, two years later. In 2018 it was recognized with its first star.

“Hong Kong is a truly international city with a dynamic food culture. People like to explore and try new things, and are very open-minded when it comes to restaurants. You can get every type of cuisine in Hong Kong and for a restaurant or chef, that’s a very exciting place to be,” said Mr. Osborn.

The chef recently formed The Arcane Collective, expanding his portfolio of restaurants from one-star Arcane to Cornerstone and now Moxie, featuring vegetarian and seafood dishes, at The Landmark.

Hong Kong also boasts of one of the most affordable Michelin-starred restaurants. Located in the working-class neighborhood of Sham Shui Po, Tim Ho Wan is affordable and has held on to its Michelin Star accolade for 10 consecutive years.

Hong Kong is one of a few cities where its street food is recognized by the Michelin Guide. The Jordan and Yau Ma Tei districts have several street shops that are included in the guide. For noodle lovers, Mak Man Kee Noodle Shop is over six decades old, still serving springy egg noodles with generously sized tiger prawn wantons. Meanwhile, Kai Kai Desserts is known for its traditional Cantonese desserts like freshly ground black sesame soup, almond soup, and glutinous rice dumplings filled with black sesame paste.

In the 2020 edition of the Michelin Guide, the Green Star was introduced to recognize restaurants that “embody and embrace sustainability in their day-to-day operations.” In Hong Kong, Roganic was bestowed with this honor. Led by top British chef Simon Rogan, whose team uses every part of an ingredient to minimize food waste, the restaurant grows its own herbs and microgreens, and uses dry aging and curing techniques to extend the shelf life of food products.

With the growing F&B scene, chefs are championing food sustainability methods, with many choosing to source for locally produced ingredients like yellow chicken, organic vegetables and herbs. The focus on sustainability has made local and overseas diners more aware of Hong Kong’s quietly flourishing agricultural sector.

In 2009 Hong Kong was awarded 31 stars for 22 restaurants. Today, it boasts 95 stars for 69 restaurants. Who knows which new restaurants are included in the 2022 edition of the Michelin Guide.

Congestion fees from subsea cable damage to be on hold – PEMC

PHILIPPINE Electricity Market Corp. (PEMC) has assured Visayas customers that it will suspend the collection of congestion fees arising from the outage at a high-voltage submarine cable linking Cebu and Negros which earlier took place in June.

The Energy Regulatory Commission (ERC) previously ordered PEMC, which governs the wholesale electricity spot market (WESM), to halt the collection of congestion charges and other related fees to curb the “significant” increases in power rates beginning June.

The commission also required PEMC to refund congestion and other fees collected from June to August within “a period equivalent to the number of months covered by the subject collections.”

“We recognize the financial burden that the Visayas electric power consumers may bear attributable to the congestion caused by the damaged submarine cable,” PEMC President Leonido J. Pulido III said in an e-mailed statement on Wednesday.

The adjustments in the WESM billing and settlements will be reflected in the June 2021 billing.

“PEMC, in coordination with the IEMOP (Independent Electricity Market Operator of the Philippines), is currently fleshing out the details of the amounts and the manner of refund to the affected customers, as well as the recommendations to be submitted to the ERC on the pricing and settlement solution that may be applied during the repair period,” he added.

Once finalized, the proposed solution will be incorporated in the WESM rules.

Earlier this month, PEMC and the IEMOP submitted information to the ERC confirming the commission’s review of the “unusual results” of the July and August billing periods, which showed high line rental charges in the Negros and Panay regions, following the transmission line’s outage.

In the middle of June, dredging activities along the Bio-os River in Negros Oriental held by the Department of Public Works and Highways damaged the 138-kiloVolt Cebu Negros Line 1.

Repair activities on the transmission line are expected to last up to 26 months, according to PEMC. — Angelica Y. Yang

‘Heavy lifting’ from fiscal policy needed to ensure recovery — Diokno 

FISCAL POLICY should do the “heavy lifting” to ensure the economy’s recovery from the impact of the coronavirus pandemic, Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno said, even as he noted that the central bank is ready to act if needed. 

“Even as the BSP is ready to deploy additional policy measures to ensure sustainable recovery, the heavy lifting should come primarily from fiscal authorities,” Mr. Diokno said in his closing speech on Wednesday at a forum jointly organized by the BSP and the Reinventing Bretton Woods Committee. 

“While the nexus between monetary and fiscal policies has expanded during the pandemic, the BSP continually recognizes and preserves the natural boundaries to preserve central bank credibility,” he said. 

Mr. Diokno said the central bank will need to decide when is the appropriate time to dial back the stimulus measures they deployed during the crisis. 

“When a sustainable economic recovery becomes apparent, the BSP will aim to implement a gradual exit strategy for the withdrawal of policy stimulus, taking care not to disengage either too early or too late, while guarding against any emerging threats to the BSP’s price and financial stability mandate,” he said. 

Mr. Diokno earlier said the economy could return to its pre-pandemic level by the fourth quarter of 2022 or the first quarter of 2023. 

Since the pandemic started, the BSP has slashed benchmark interest rates by 200 basis points to bring them to record lows. It has also cut the reserve requirements for banks and rolled out regulatory relief measures. 

The BSP has also given liquidity support to the national government by buying securities in the secondary market and providing direct advances as bridge financing to support its pandemic response. 

Estimates cited in a report by the Asian Development Bank released in April showed fiscal and monetary measures in the country last year lagged compared to its regional neighbors.  

Combined fiscal and policy responses hit $22 billion or $200 per capita from March to December 2020, equivalent to 5.9% of gross domestic product. the report said. In comparison, Malaysia, Thailand, Singapore, and Indonesia spent $2,528, $1,208 and $15,629, and $426 per capita, respectively.  

Legislators have been pushing for a third stimulus package worth up to P400 billion through the Bayanihan III. It has been approved by the House of Representatives but is still pending at the Senate.  

However, the Department of Finance has said it can only support around P173 billion in new stimulus without breaching this year’s budget deficit ceiling of 9.3%. — LWTN 

Review: Samsung Galaxy Fold 3

THE Samsung Galaxy Z Fold 3 is the latest version of the company’s flagship foldable phone. The company said the Fold 3 was made while taking into account feedback from customers. And so, unlike its predecessors, the new phone-tablet hybrid is water resistant and supports the S Pen, among others. Samsung says this is also thinner, lighter and more durable than earlier versions.

Out of the box, the Fold 3 is about as heavy as a regular tablet of its size. Folded in half, though, this is a hefty phone and is reminiscent of those early smartphones with physical keyboards. It feels sturdy enough even while folding it, but only time will tell if the Fold’s durability issues have been sufficiently addressed in this version, as all hinges inevitably suffer from wear and tear.

The first order of business was charging the phone, and using a fast charger, the battery took a little over two hours to go from empty to full. I didn’t have to set up the phone anymore as this was a review unit from the company. Still, as with many devices, it takes a bit of time to get used to the Fold’s user interface.

THE PROS:
1. The displays are excellent. The Fold 3 comes with a 7.6-inch main screen and 6.2-inch cover display, and both have a 120Hz refresh rate. These screens are bright and the colors are crisp and vibrant. Graphics run smoothly, too. The cover screen’s aspect ratio is too awkward to watch videos on, but to be honest, the only things most people would probably do with the external display are respond to messages (despite the cramped keyboard), check notifications, and other quick tasks. Why would you restrict yourself to a narrow screen when you can just unfold your device for a bigger display, anyway? My only complaint about these screens is that they collect smudges and dust. The crease in the middle of the main screen could also put some users off, but at some point during the review duration, I just forgot it’s there.

2. The speakers are good, too. Playing videos and music produce clear sound, thanks to the stereo speakers with Dolby Atmos.

3. It’s great for multitasking. When you have that much screen real estate, you’d want to be able to maximize it, and Samsung packed a number of useful multitasking features in the Fold 3. If you do buy this phone, explore the Labs feature to optimize your apps for multitasking.

4. It’s water resistant. I didn’t dare to submerge the review unit, but the IPX8 rating provides some reassurance for those who are looking to use this phone as their daily companion.

5. It now has S Pen support. While the review unit didn’t come with one, while using the Fold 3, I could imagine how the S Pen could make the experience more immersive. Unfortunately, it’s a separate purchase, and there seems to be no place in the phone to slot it in, making it easier to misplace.

THE CONS:
1. Let’s start with the biggest one: the price. At around $1,800 (in the Philippines, it’s priced at P87,990 for the 256GB model and at P95,990 for the 512GB model), the Fold 3 is $200 cheaper than its predecessor, but it’s still an expensive device, even if you’re technically getting two gadgets in one.

2. Its cameras pale in comparison to those on other similarly-priced flagship smartphones. However, those phones probably don’t have foldable screens, right? It seems like that’s a trade-off Samsung had to make so they could price the Fold 3 lower than its predecessor. Still, in ideal lighting conditions, the Fold 3 takes pretty decent photos.

3. The battery life could be better. 4,400mAh isn’t much, especially when it has to power a 7.6-inch main display. But again, this also seems like a compromise made to be able to sell this phone at its price range.

4. Long-term durability is still a question.

All said, the Fold 3 is an excellent, well-made smartphone-tablet hybrid. Could it replace a regular smartphone for me? Probably not, mainly because of its weight and size. Is it a good alternative for a regular tablet? Maybe, since you’re getting two devices in one, but at an arguably steep price. Because it’s foldable, you’re obviously paying for the technology and innovation that went into making it so — and most purchase decisions will probably come down to that.

Dining In/Out (09/30/21)

Discovery Primea unveils holiday hampers with early bird offers

In PREPARATION for the holiday season, Discovery Primea has unveiled its selection of festive offers with Early Bird discounts. The hotel has developed luxurious Christmas Hampers filled with gourmet items and trimmings. Offered at P1,500 net, the Festive Hamper features three 30 gm jars of jams, dips, and spreads, focaccia bread, soda crackers, and the hotel’s signature cookies and pastry bars. An upgraded Holiday Hamper contains additional assorted nuts, cheeses, and dried fruits for P3,000 net. For the ultimate selection, the Yuletide Hamper features the most extensive collection of gourmet finds including assorted cold cuts and a bottle of premium red wine for P5,000 net. There are also Holiday Platters good for eight to 10 persons. These include traditional fare such as Cochinillo Asado, Lengua Sevillana, Callos a la Madrileña, and more dishes for a holiday feast at home. The Christmas Hampers and Holiday Platters are available from Dec. 1 to 31, with a 20% Early Bird discount for orders placed on or before Nov. 30. Browse the hotel’s offers at bit.ly/PrimeaHolidays2021. For orders and inquiries, call 7955-8888 or e-mail dp-sales@discovery.com.ph for bulk orders.

Corner Pizza’s new Detroit Style Pizza

WHILE most people are familiar with New York-style or Chicago-style pizza, here is something else to try out — Detroit-style pizza. It is a distinctive rectangular, thick-crust, crispy, and chewy pizza baked with edge-to-edge cheese, tomato sauce on top, and other toppings. Corner Pizza is now offering its new Detroit Style Pizza — Pepperoni (P599), made extra thick with 50% more cheese. The pizza is topped with 50 pepperoni slices. In addition, Corner Pizza debuted Parmesan Crusted Garlic Bread — a serving includes four thick parmesan-crusted garlic bread slices paired with a special salsa sauce for P129. Corner Pizza is a new player in the Philippine The delivery-driven virtual brand started in Nov. 2020, when it introduced a square pizza that is bigger by a square inch than its ordinary 12” round counterpart. “Corner Pizza was born given the pandemic situation last year, by maximizing the delivery service and products of Kenny Rogers Roasters,” said Corner Pizza’s Marco Siy, in a statement. To order, call 8-555-9000 or go to www.cornerpizza.com.ph. Get an order of Parmesan Crusted Garlic Bread for free with every Detroit Pizza purchase until Oct. 17.

Johnnie Walker launches contest

SCOTCH whisky brand Johnnie Walker has launched the #JohnnieHighball Mix It Up Contest. A bar cart set, with P50,000 worth of Johnnie Walker bottles — including a bottle signed by global K-Pop star and Johnnie Walker’s newest global brand ambassador CL — is up for grabs at Johnnie Walker’s PH Instagram page @johnniewalkerph. The contest is open to participants who are at least 18 years old and based in Metro Manila. The contest requires that interested parties make their own #JohnnieHighball and post a photo on their Instagram feed, including a name for the #JohnnieHighball and the recipe in the photo’s caption. The photo should tag the official Johnnie Walker Philippines IG Page (@johnniewalkerph) and use the hashtags #MixItUp and #JohnnieHighball. Three winners will be selected: The Picture-Perfect Johnnie & Lime (best-looking shot of a tried and tested recipe), The Bar-Ready #JohnnieHighball (a new recipe), and, The People’s Choice (the most liked photo wins). Five winners will also be selected at random and will each get a Johnnie Highball kit and P10,000 worth of Johnnie Walker products. All winners will get a signed bottle from CL. The contest ends on Oct. 31. Winners will be announced on Nov. 8, 2021. For the complete terms and conditions and more details, check out @johnniewalkerph.

El Real launches website of pasta recipes

FILIPINO pasta brand El Real has launched a website called Real Pastabilities by El Real (www.realpastabilities.com) featuring pasta recipes including unique creations from El Real. Through the website’s user-friendly interface, searching for recipes based on the pasta type, occasion, and even ingredients, is easy. The site also features a blog space with helpful cooking-related articles, as well as information on the kinds of El Real pasta.

Ajinomoto, top chefs develop easy-to-cook dishes

AJINOMOTO Philippines Corp. (APC) Group has collaborated with some of the country’s top chefs — Rob Pengson, Sau del Rosario, Noel Agra, Nathan Uy, and JM Sunglao — to show that practically anyone can prepare restaurant-style dishes at home with the right guidance. The initiative is part of APC’s “How to Cook by COOKMUNITY” campaign, featuring weekly recipe tutorial videos. The recipes use ingredients usually already found in a kitchen or that can easily be bought from the store. No unfamiliar spices or special equipment needed. The recipes are also simple, with just five steps or less. Lastly, the result is always restaurant-quality dishes. The 12 easy-to-follow video cooking tutorials can be found on the Cookmunity by Ajinomoto Philippines Facebook page. Already available are Rob Pengson’s tutorial for Eggplant Katsudon and Scallion & Shrimp Chow Mein; Sau del Rosario’s Asian-Style Chicken BBQ and Prawn Rebosado; Noel Agra’s Tofu Taco and Cheesy Veggie Omelette; and Nathan Uy’s Chicken Pandan and Chinese-Style Steamed Fish. Mr. Uy’s tutorial for Kimchi Fried Rice will be released in October along with JM Sunglao’s tutorial for Garlic Parmesan Spaghetti, Crispy Fried Fish Roulade, and Apan-apan. The tutorials can be found on the Cookmunity by Ajinomoto Philippines Facebook page, and at www.cookmunitybyajinomoto.com.

Shake Shack offers new Korean-inspired chicken sandwich

FIRST served in South Korea Shacks before becoming a hit in the US, Shake Shack’s Gochujang Chick’n Sandwich is now available in the Philippines. Inspired by Seoul’s vibrant fried chicken scene, the Gochujang Chick’n (P275) —  available for a limited time only —  features a gochujang-glazed crispy chicken breast topped with toasted sesame seeds that sits over white kimchi slaw. The sandwich is just one of a new Korean-inspired collection of menu items that is now available: Gochujang Chick’n Bites (available in six and 10 pieces for P215 and P265, respectively), Gochujang Fries (P205), and Black Sugar Shake (P210). From Sept 27 to Oct 1, order exclusive Gochujang sets from Grabfood and get a free Blueberry Lemonade for every purchase.

Limited-edition Jollibee Funko Soda out

SINCE the Jollibee Funko Pop debuted in 2018 as the first local brand with its own Funko vinyl figure, the partnership between the two global brands has been popular among toy collectors and Jollibee fans alike. This year, Jollibee and Funko offer the limited-edition Jollibee Funko Soda. It features a 4.25” Jollibee vinyl figure in a unique soda can packaging. It also comes with a collectible disc, and some customers will have the chance to get the Chase glow in the dark version. For more information on the Jollibee Funko Soda, visit Jollibee’s Official Facebook Page.

AirAsia hopes return to pre-pandemic levels for local flights by April

REUTERS

PHILIPPINES AirAsia, Inc. is hoping that its domestic operations would return to pre-pandemic levels by April or May next year, a company official said on Wednesday.

“For domestic frequency, aligned again to the path of herd immunity, we hope to at least achieve 100% by April or May, before the elections,” Philippines AirAsia Chief Financial Officer Ray C. Berja said at a virtual briefing.

“For the international, that would be, maybe, early 2023 or later part of 2022. But that one is very tough because it involves the restrictions of other country, which will be out of our control,” he added.

The domestic flight frequency of the low-cost airline is currently between 10% and 15% of pre-pandemic levels.

“We are enjoying 78% load factor on a per flight basis. Going to December, we are increasing our capacity for Cebu, Boracay, Tagbilaran, and other major domestic routes,” Mr. Berja said.

The airline is hoping to hit around 20% of its pre-pandemic capacity in the fourth quarter (Q4).

“Hopefully, as well, that the load factor will increase to around 80%. That’s the way we see our quarter four numbers. Also, the cargo will be in much better and encouraging number for us this Q4,” Mr. Berja noted.

International charter flights are helping the low-cost airline stay afloat, Philippines AirAsia Chief Executive Officer Ricardo P. Isla said.

Besides the countries in the ASEAN region, the airline now flies to China as well, he said. — Arjay L. Balinbin

Moody’s cuts PNB’s credit rating

BW FILE PHOTO

MOODY’S Investors Service on Tuesday downgraded its credit rating for Philippine National Bank (PNB) due to the lender’s deteriorating asset quality.

The bank’s deposit and senior unsecured ratings were cut to Baa3 — the lowest investment-grade rating — from Baa2, with the outlook kept at negative, which means an upgrade is unlikely to happen in the next 12 to 18 months. It also downgraded the bank’s Baseline Credit Assessment (BCA) to ba1 from baa3.

“The bank’s deterioration in asset quality has driven the downgrade. The gross nonperforming loan (NPL) ratio increased to 11.5% as of the end of June 2021 compared with 4.77% as of the end of June 2020, due to higher corporate NPLs in COVID-impacted sectors,” Moody’s said in a statement on Tuesday evening.

“The negative outlook reflects risks to asset quality, and in turn, to the bank’s capital.”

The lender’s asset quality continues to face risks as the operating environment remains weak, the debt watcher added.

“PNB’s weak risk management has resulted in higher NPLs and is a governance risk factor under Moody’s environmental, social and governance (ESG) framework. [The ratings] action reflects the impact on the bank from the governance weakness, and the deterioration in credit quality it has triggered,” Moody’s said.

Compared with its rated peers, PNB’s provision coverage ratio is lower at 67% as of end-June, it added.

Moody’s said PNB also faces marginal risks to its capital “as retained earnings will remain muted amid moderate asset growth.” The bank’s common equity Tier 1 (CET1) ratio fell to 13.2% at end-June from 15% a year prior.

PNB’s profitability, which is already lower than its peers, is expected to stay low in the next 12 to 18 months amid elevated credit costs, it said.

Still, funding and liquidity are expected to be stable, which will be “a credit strength.”

“PNB’s funding costs are comparable to those of the big three Philippine banks. The bank also has a high current and savings account deposit to total deposit ratio,” Moody’s said.

The debt watcher, however, said despite these risks, it expects the government to support the bank in case it faces problems due to its systemic importance, with its deposit market share at 5.4% as of June.

Moody’s said it could change PNB’s rating outlook if the bank’s asset quality does not materially deteriorate further.

Meanwhile, it could downgrade the bank’s BCA “if its asset quality worsens substantially such that its net NPL ratio increases by more than three percentage points or CET1 ratio declines to below 12%.”

“The bank’s deposit rating could be downgraded if the BCA is downgraded,” it added.

Sought for comment, PNB on Wednesday said the ratings downgrade reflects the impact of the prolonged pandemic on the bank as well as the overall economy.

“A Baa3 rating indicates that a company has adequate capacity to meet its obligations but could be affected by adverse economic conditions and changes in financial circumstances. PNB remains to be a profitable and stable financial institution,” the bank said in a statement sent via Viber.

PNB’s net income surged to P20.388 billion in the second quarter from P52.597 million a year earlier as it booked a one-time windfall from the transfer of three prime real estate properties to another unit of the LT Group.

The Tan-led lender has the biggest secured claims among local lenders on Philippine Airlines, Inc. (PAL), its sister company, which recently filed for bankruptcy protection in a United States court. Based on a document released by Kurtzman Carson Consultants LLC, the flag carrier’s claims agent, PNB has secured claims on PAL worth $156.51 million.

PNB’s shares closed at P20.25 apiece on Wednesday, down by 30 centavos or by 1.46%. — L.W.T. Noble

SEC clears Basic Energy capital hike to P5B

THE Securities and Exchange Commission (SEC) has approved the doubling of Basic Energy Corp.’s authorized capital stock to P5 billion from P2.5 billion previously.

The firm told the local bourse on Wednesday that the corporate regulator issued a certificate of approval on its capital increase, which will be divided into 20 billion shares with a par value of 25 centavos apiece.

Basic Energy sought for a higher capital stock to “raise funds for energy projects and to expand its existing business operations.”

The firm also said that the SEC issued a certificate allowing for the amendment of Basic Energy’s articles of incorporation to reflect the capital stock increase.

Last year, the firm’s stockholders gave the green light for the doubling of its authorized capital stock.

The de Venecia-led company earlier secured a service contract with the Energy department for a planned 50-megawatt wind project in Mabini, Batangas. The contract provides for a non-extendible, five-year pre-development stage, and a 25-year development stage, counted from the signing of the contract.

Basic Energy is a holding company that holds five service contracts for the exploration and development of geothermal energy in Batangas, Bataan, Benguet, Camarines Sur, and Sorsogon.

Its shares at the local bourse improved three centavos or 5.66% to finish at 56 centavos apiece on Wednesday. — Angelica Y. Yang

Four steps to creating and maintaining your business website

GoDaddy shares that having your own website can strengthen your digital presence and build credibility with customers

MANILA – In today’s challenging environment, having a strong online presence has become an important way for businesses to stay active and engaged with their customers. For businesses to get more visibility and noticed, they must be where the consumers are, and Filipinos are increasingly on their mobile phones on the internet.

According to the Digital 2021 Report by We Are Social and Hootsuite, Filipinos spend an average of 10 hours and 56 minutes online across different devices. The same report also found that Pinoys spend just over four hours daily on social media.

“Social media is a great channel to increase awareness about your business, but you are also competing for attention across a variety of content that people see in their feeds. Having your own website allows you to control the message, directing potential customers to a portal where their attention rests solely on your own venture and you can engage them through your content and products,” said Norman Barrientos, GoDaddy’s Director of Marketing for Southeast Asia.

GoDaddy, the company that empowers entrepreneurs worldwide, suggests that Filipino small business owners can make a different future for their ventures by deciding to create their own website. They can integrate this with social media channels and marketplaces to help extend their reach and further engage with current and potential customers.

GoDaddy shares four steps to create and maintain a website for your venture.

STEP 1: SECURE THE RIGHT DOMAIN NAME
The website domain name is your internet address. You can have a nicely designed, user-friendly website, but without a memorable domain name, it will be hard to find your business and create recall for your customers.

“GoDaddy Guides remind customers to choose a catchy, easy-to-recall domain name that captures the essence of your business. It’s also easy for people to refer your business if they remember your URL,” said Mr. Barrientos.

While .com is usually the go-to domain name for many businesses, there are plenty of other domain extensions available such as .ph, .shop, and several others that can help increase recall and easily identify the nature of your business.

STEP 2: CHOOSE AN EASY-TO-USE WEBSITE CREATOR TOOL
The user experience on your website is crucial in engaging and retaining customers as they browse through and use your business website. According to the Digital 2021 report by We Are Social and Hootsuite, 96.5% of Filipino Internet users get access through a mobile device — making a mobile-friendly website a must from the start.

For this, you’ll want to consider a website creator tool that doesn’t require coding experience. GoDaddy Website Builder, for example, has over 1,500 templates that suit most types of businesses. It’s functionality also makes it easier to design and update your website, and it’s already mobile-friendly as soon as you publish it. If you’re ready to include an online store to your site, GoDaddy E-Store is also a good option. Aside from offering readily available templates, it has easy to use drag and drop functionality that helps you create your own website and online store in less time. It also supports various modes of payments and shipping methods, and seamlessly integrates with chat, social media, and marketplace platforms.

STEP 3: EMBRACE DIGITAL MARKETING
Once your website is live, it needs to be seen in different online channels to help increase awareness about your business and direct more traffic to your site. This is where digital marketing comes into play.

“Digital marketing, when done right, can deliver strong results at a fraction of the price of traditional marketing. It also allows you to target customers where they spend more of their time,” said Mr. Barrientos.

Products like GoDaddy Websites + Marketing and E-store combine a website creator with a digital marketing suite, and an online store. It allows you to do search engine optimization (SEO) which helps get your website get noticed when people are searching for things related to your business as well as E-mail, and Social Media Marketing all in one place.

STEP 4: ENSURE ACCESS TO CUSTOMER SUPPORT
At some point, you will be looking for help with your website and what is next to grow your digital presence. This is where having reliable and easily available customer support comes in. Consider a provider where you can get 24/7 support to help ensure that any hitches are resolved and will not affect business continuity, as well as get recommendations to help your business grow online.

“At GoDaddy, our customer support includes GoDaddy Guides who are ready to take inquiries — from technical issues to product walkthroughs, to help ensure entrepreneurs and small business owners get support when they need it along the way,” said Mr. Barrientos.

In addition, customers can also access GoDaddy guides via Facebook Messenger and through its Facebook Page.

From domain names to creating a website for your business, GoDaddy is the one-stop shop for everything you need to create and grow a strong online presence. Find out more about GoDaddy’s product lines by logging on to ph.GoDaddy.com.

Travel/Hotels (09/30/21)

3000 sqm beachfront Boracay Resort

Boracay deals at HSMA’s SOS sale

THE SEPTEMBER Online Sale (SOS) of the Hotel Sales & Management Association (HSMA) back — and Crimson Resort and Spa, Boracay is all set to deliver. Under Crimson’s Boracay Better Than Ever promo, guests can choose from among four accommodation types and also have a chance to win two round-trip tickets for Airasia’s Manila-Caticlan route.

Packages are available as follows: Deluxe Premier at P25,200 net; Suite at P28,800 net; Villa Suite with its own plunge pool at P39,600 net; and stand-alone Villa with its own plunge pool at P47,700 net. Round-trip transfers via land or sea to and from the Caticlan jetty are included. All packages include accommodation for four days and three nights with complimentary breakfast for two adults and two children under the age of 12. Guests can also enjoy P2,000 in dining credits consumable throughout their stay, as well as 50% off on selected drinks at J’s Pool Bar and 15% off at restaurants within the property. There is also a 50% discount on regular services at the AUM Spa. More active types can enjoy 15% off on various sport and leisure activities, and those who want to explore Boracay can hop aboard the daily shuttle to and from D’Mall in Station Two. Those booking villa stays will also enjoy special amenities on arrival, along with complimentary evening cocktails and one-time mini-bar privileges. The packages include special rates on home service RT-PCR testing care of Detoxicare.

Crimson Boracay also offers its romantic Escape and Elope in Style celebration package. This unique wedding package enables couples to share their big day even virtually with friends and family. The intimate ceremony can take place at the Events Pavilion or down by the beach at sunset with a venue decked out in white and fine flowers. A virtual reception can follow as Crimson can provide curated grazing or food boxes which can be delivered to the homes of at least 10 guests to help celebrate the occasion. The newlyweds can enjoy a two-night stay in one of Crimson’s Seaview Suites, with a romantic champagne breakfast in bed, as well as round-trip transfers for two.

Booking period for all packages is until Oct. 15 only; stays may be availed of from Oct. 1, 2021 to Dec. 25, 2022. These offers are exclusively available at https://bit.ly/crsbsos. Call 0998-596-4658 or e-mail boracay.sm3@crimsonhotel.com for inquiries.

Cebu Pacific launches special 25th anniversary credit card

TO MARK its 25th anniversary, Cebu Pacific has launched new Cebu Pacific Gold and Platinum Credit Cards, in partnership with Go Rewards, UnionBank of the Philippines, and Visa. Using this card will earn Go Rewards points to fly faster as cardholders will get one point for every P100 spent with Cebu Pacific. If used anywhere else, one point will be earned for every P200 spent.

A cardholder is eligible to be a Black Card member of Go Rewards. When flying as a Black card member, they get the preferential earn rate of 1 Go Rewards point for every P20 spent (for the base fare and some ancillaries) when flying with Cebu Pacific. Cardholders will also get early alerts for CEB promo fares, and other Go Rewards, UnionBank and Visa exclusive offers.

Platinum cardholders will also gain exclusive access to Pacific Club Lounge at NAIA Terminal 3 on top of travel insurance of up to P10 million. Those who sign up for a card now until Dec. 31 will receive Go Rewards bonus points which can be used to book a CEB flight online conveniently.

A Gold cardholder will receive 5,000 points, while a Platinum cardholder will get 10,000 points. All these points can be redeemed not just for a flight, but even to purchase other essentials.

These credit cards are also accepted worldwide through the accredited merchants of Visa. CEB currently operates regular flights to 32 domestic destinations which include Boracay, Bohol, Cagayan de Oro, Cebu, Davao, Iloilo, and Siargao.

Trip.com introduces new ‘Vaccinated Discount Campaign’

FROM now until Dec. 31, fully vaccinated Trip.com users can enjoy up to 30% off bookings for selected hotel bookings across the Philippines. The “Vaccinated Discount Campaign” is part of Trip.com’s efforts towards supporting the local government’s vaccination campaign. Deals from the “Vaccinated Discount Campaign” will feature hotel booking deals from more than 100 accommodation partners. The Aloha Boracay Hotel, Boracay Beach Club, and Bluewater Maribago Beach Resort are among the list of partners who have joined the initiative to offer exclusive perks in a collective effort to promote safe travel within the country.

Eligibility for the discounts will only apply to fully vaccinated individuals who will be required to provide a proof of vaccination before or upon arrival at the accommodation of choice.

Participating merchants will also be able to garner greater visibility through dedicated marketing efforts by Trip.com. For example, the exclusive discounts will be featured on a dedicated landing page that is easily accessed by site visitors, thereby gaining more traffic for the promotions offered by respective merchants.

For more information on the deals and list of participating hotels for the “Vaccinated Discount Campaign,” visit www.trip.com/sale/w/2749/yourshotatdiscounts.html?curr=PHP. The promotions can also be accessed on the Trip.com mobile app on App Store and Google Play.

Thailand’s Phuket Sandbox extends reach, Chaing Mai next

THE TOURISM Authority of Thailand and the Phuket Tourism Association launched the Phuket Sandbox 7+7 Extension program in August which enables fully vaccinated international travelers to travel to Phuket and chosen extension areas within the program. Previously, tourists were mandated to stay in Phuket for a minimum of 14 days, but with the upgraded program, fully vaccinated travelers can reduce their mandatory stay in Phuket from 14 to seven days, after which another seven nights can be spent in any of the extension areas in Krabi, Phang-Nga, or Surat Thani.

In the Phuket Sandbox, tourists can enjoy sea excursions such as yachting and cruising, enjoy traditional dance performances around the island, and enjoy dining, shopping, lifestyle and lodging establishments in the island as long as they are accredited by the Amazing Thailand Safety and Health Administration Plus (SHA Plus).

As the country safely reopens for tourism, Chiang Mai is next on the list of areas with reopening plans. Slated to re-open in October, Chiang Mai’s reopening effort is dubbed “Charming Chiang Mai,” which aims to highlight the beauty and appeal of the Northern Thailand city. Additionally, more destinations in Thailand — including Bangkok, Hua Hin, and Pattaya — are planned to reopen from Oct. 1.

For more information on Phuket Sandbox, visit www.tatnews.org and follow TAT Philippines on Facebook (TAT Philippines), Instagram (@tatphilippines) and their website www.tourismthailand.sg.

Pru Life UK partners with Robinsons Bank to offer credit cards

PRU LIFE UK will be entering the credit card business through a partnership with Robinsons Bank Corp.

“Very soon we will be rolling it (credit cards) out. Right now, we expect it maybe next month. We have been rolling out the applications to our customers now,” Allan M. Tumbaga, senior vice-president and chief marketing officer at Pru Life, said at an online briefing on Wednesday.

Mr. Tumbaga said they will release more details on the cards soon, noting the product will be exclusive to their clients.

The credit cards will be issued by Robinsons Bank. The insurer and the lender have been in a bancassurance partnership since 2018.

Meanwhile, Mr. Tumbaga said they are still studying if they will offer more products especially meant to protect clients from the impact of the coronavirus disease 2019 (COVID-19).

He said with vaccination rates rising, the virus might evolve and become just like the common flu. In this case, Mr. Tumbaga said COVID-19 could be a part of regular insurance products, like those covering critical illnesses.

“Specific packages [for COVID-19], that’s always a consideration now… We do expect to expand our roster of services,” he said.

Moving forward, Mr. Tumbaga expects insurance take-up to continue growing, although not as fast as expansion seen before the pandemic, as people have realized the need for protection.

“The younger people are even much more interested now than ever considering the pandemic showed that anything can happen to you. So it’s best to be prepared always,” he said.

In 2020, Pru Life UK recorded the second- highest net premiums in the life insurance sector worth P30.98 billion, based on data from the Insurance Commission.

Its net income of P3.27 billion was the fourth biggest in the industry last year, while it ranked fifth in terms of its assets with P117 billion. — L.W.T. Noble

1...5,9745,9755,976...12,780Page 5,975 of 12,780
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube