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When did humans start experimenting with alcohol and drugs?

JAKUB DZIUBAK/UNSPLASH

HUMANS constantly alter the world. We fire fields, turn forests into farms, and breed plants and animals. But humans don’t just reshape our external world — we engineer our internal worlds, and reshape our minds.

One way we do this is by upgrading our mental “software,” so to speak, with myths, religion, philosophy and psychology. The other is to change our mental hardware — our brains. And we do that with chemistry.

Today, humans use thousands of psychoactive compounds to alter our experience of the world. Many derive from plants and fungi, others we manufacture. Some, like coffee and tea, increase alertness; others, like alcohol and opiates, decrease it. Psychiatric drugs affect mood, while psychedelics alter reality.

We alter brain chemistry for all kinds of reasons, using substances recreationally, socially, medicinally, and ritually. Wild animals sometimes eat fermented fruit, but there’s little evidence that they eat psychoactive plants. We’re unusual animals in our enthusiasm for getting drunk and high. But when, where and why did it all start?

Given humanity’s love of drugs and alcohol, you might assume getting high is an ancient, even prehistoric tradition. Some researchers have suggested prehistoric cave paintings were made by humans experiencing altered states of consciousness. Others, perhaps inspired more by hallucinogens than hard evidence, suggest that drugs triggered the evolution of human consciousness. Yet there’s surprisingly little archaeological evidence for prehistoric drug use.

African hunter-gathers — Bushmen, Pygmies, and the Hadzabe people — likely live their lives in ways similar to ancestral human cultures. The most compelling evidence for the use of drugs by such early humans is a potentially hallucinogenic plant !kaishe, used by Bushmen healers, which supposedly makes people “go mad for a while.” Yet how much Bushmen historically used drugs is debated, and otherwise, there’s little evidence for drug use in hunter-gatherers.

The implication is that, despite Africa’s diverse plants and fungi, early humans used drugs rarely, maybe to induce trances during rituals, if at all. Perhaps their lifestyle meant they rarely felt the need for escape. Exercise, sunlight, nature, time with friends and family — they’re powerful antidepressants. Drugs are also dangerous; just as you shouldn’t drive drunk, it’s risky to get high when lions lurk in the bush, or a hostile tribe waits one valley over.

Migrating out of Africa 100,000 years ago, humans explored new lands and encountered new substances. People discovered opium poppies in the Mediterranean, and cannabis and tea in Asia.

Archaeologists have found evidence of opium use in Europe by 5,700 BC. Cannabis seeds appear in archaeological digs at 8,100 BC in Asia, and the ancient Greek historian Herodotus reported Scythians getting high on weed in 450 BC. Tea was brewed in China by 100 BC.

It’s possible our ancestors experimented with substances before the archaeological evidence suggests. Stones and pottery preserve well, but plants and chemicals decay quickly. For all we know, Neanderthals could have been the first to smoke pot. But archaeology suggests the discovery and intensive use of psychoactive substances mostly happened late, after the Neolithic Revolution in 10,000 BC, when we invented farming and civilization.

When hunters trekked across the Bering Land Bridge 30,000 years ago into Alaska and headed south, they found a chemical cornucopia. Here, the hunters discovered tobacco, coca, and maté. But for some reason, indigenous Americans were especially fascinated with psychedelics.

American psychedelics included peyote cactus, San Pedro cactus, morning-glory, Datura, Salvia, Anadenanthera, Ayahuasca, and over 20 species of psychoactive mushrooms. It was a pre-Columbian Burning Man. Indigenous Americans also invented the nasal administration of tobacco and hallucinogens. They were the first to snort drugs — a practice Europeans later borrowed.

This American psychedelic culture is ancient. Peyote buttons have been carbon-dated to 4,000 BC, while Mexican mushroom statues hint at Psilocybe use in 500 BC. A 1,000 year-old stash found in Bolivia contained cocaine, Anadenanthera, and ayahuasca — and must’ve been one hell of a trip.

A huge step in the evolution of debauchery was the invention of agriculture, because farming made booze possible. It created a surplus of sugars and starches which, mashed and left to ferment, magically transformed into potent brews.

Humans invented alcohol many times independently. The oldest booze dates to 7,000 BC, in China. Wine was fermented in the Caucasus in 6,000 BC; Sumerians brewed beer in 3,000 BC. In the Americas, Aztecs made pulque from the same agaves used today for tequila; Incas brewed chicha, a corn beer.

While in America psychedelics appear to have been particularly important, Eurasian and African civilizations seem to have preferred alcohol. Wine was central to ancient Greek and Roman cultures, was served at Plato’s Symposium and at the Last Supper, and remains incorporated in the Jewish Seder and Christian communion rituals.

Archaeology suggests alcohol and drugs date back millennia, to early agricultural societies. But there’s little evidence early hunter-gatherers used them. That implies something about agricultural societies and the civilizations they gave rise to promoted substance use. But why?

It’s possible large civilizations simply drive innovation of all kinds: in ceramics, textiles, metals — and psychoactive substances. Perhaps alcohol and drugs also promoted civilization — drinking can help people socialize, altered perspectives encourage creativity, and caffeine makes us productive. And it may just be safer to get drunk or high in a city than the savannah.

A darker possibility is that psychoactive substance use developed in response to civilization’s ills. Large societies create large problems — wars, plagues, inequalities in wealth and power — against which individuals are relatively powerless. Perhaps when people couldn’t change their circumstances, they decided to change their minds.

It’s a complex problem. Just thinking about it makes me want to grab a beer.

 

Nicholas R. Longrich is a Senior Lecturer in Evolutionary Biology and Paleontology, University of Bath.

Hong Kong begins talks on controversial ‘anti-doxxing’ privacy bill

HONG KONG — Hong Kong’s legislature, which has no opposition party, begins discussions on Wednesday on privacy laws tackling “doxxing behavior” that some technology giants fear are so broad and vague that they could hamper operations in the city.

Critics of the legislation, including human rights and tech industry groups, say the measures could be used to protect those in power and target civil society. Supporters say the legislation was long overdue to counter a problem festering since the city’s 2019 mass pro-democracy protests.

Doxxing — publicly releasing private or identifying information about an individual or organization — came under scrutiny after details about police and judges were released online following the protests.

Some officers’ home addresses and children’s schools were exposed by anti-government protesters, leading to threats.

The government, which has pushed Hong Kong onto an increasingly authoritarian path since Beijing imposed a sweeping national security law in 2020, faces no official opposition after democratic lawmakers resigned en masse last year in protest at the disqualification of colleagues.

That means the law could be passed quickly, empowering the Office of the Privacy Commissioner for Personal Data to investigate and prosecute doxxing.

Violators include anyone who discloses an individual’s personal data without consent “with an intent to cause specified harm or being reckless” about the harm caused.

“Specified harm” includes harassment, threat, intimidation, bodily harm, psychological harm, causing the victim to be concerned about safety, and others. Violators could face fines of up to HK$1 million ($128,736) and five years in prison.

The commissioner can apply for a warrant to enter and search premises and seize materials for investigation, and can access electronic devices without a warrant. It can also issue notices to remove content or block access to that content, anywhere in the world.

Asia Internet Coalition, an advocacy group that includes Google, Facebook and Twitter, warned in a June 25 letter to the commissioner that tech companies could stop offering their services in Hong Kong if authorities went ahead with the changes.

The coalition said the measures were “not aligned with global norms and trends,” and that any legislation that could curb freedom of speech “must be built upon principles of necessity and proportionality.”

“The government’s interpretation of doxxing is not necessarily the same as that of technology companies,” an executive at one of the tech companies told Reuters on condition of anonymity because of the sensitivity of the matter.

Privacy Commissioner Ada Chung has said she had met representatives of the coalition this month. They had “clarified” that they remained committed to Hong Kong and doxxing was a matter of serious concern, she said.

Representatives from Facebook and Twitter referred Reuters to the Asia Internet Coalition letter, and said their companies had nothing to add for now. Google did not immediately respond to requests for comment.

The government has said that doxxing acts “weaponize personal data, and have caused great harm in the society in recent years.”

City leader Carrie Lam has said she was confident officials would be able to “allay concerns” raised by online platforms.

Between June 2019 and April 2021, the commissioner received more than 5,700 doxxing-related complaints, the government said. Police arrested 17 people on suspicion of doxxing during the period, two of whom have been convicted, it said. — Reuters

Cirtek still keen on market listing in the US

CIRTEK Holdings Philippines Corp. continues to consider an initial public offering (IPO) for its unit Quintel USA, Inc. in US-based stock exchange Nasdaq, it said in a regulatory filing on Wednesday.

The listed holdings firm issued the market update in relation to its clarification to the local stock exchange in 2017 that Cirtek was preparing its wholly owned subsidiary for a US listing.

“The company would like to clarify that the management continues to contemplate the possibility of pursuing an IPO of Quintel in the US. However, this is still under consideration as the company is on the constant lookout to further grow Quintel’s business,” the listed holding firm told the local bourse in a disclosure on Wednesday.

Cirtek said the planned stock market debut “remains to be an aspiration and part of its overall plan,” but clarified that there are no definite plans or a timetable for Quintel’s IPO.

It said the pandemic affected the global business community, where growth momentum in the sector as well as every industry has slowed down.

Quintel, which primarily serves the North American market, is a technology firm that develops and delivers antenna solutions for mobile operators.

In its disclosure, Cirtek also said it is “riding on the wave of recovery” as the world’s Top 1 and 2 ranking carriers have extended the supply contracts of the company’s 5G products.

“The company aims to establish consecutive growth and to enter the US capital markets at a time that will be most favorable to a listing,” it said.

Cirtek separately said on Wednesday that it would extend the duration of its stock rights offering for one day until July 23, following the observance of Eid’l Adha on July 20, which was declared a regular holiday.

It said the joint issue managers and lead underwriters had agreed to the extended offer period, which was originally from July 12 to 22.

Previously, the board directors of The Philippine Stock Exchange, Inc. cleared the company’s application to list up to 250 million common shares with a par value of P1 apiece to cover the offering, as well as its application to list up to 250 million bonus detachable warrants for free.

The firm added that the corporate regulator had no objections to the extension.

Cirtek is the holdings company of Cirtek Electronics Corp. and Cirtek Electronics International Corp. Through these units, Cirtek is primarily engaged in the manufacture and sale of semiconductor packages, the manufacture of highly integrated technology products and the delivery of antenna solutions.

Cirtek’s first-quarter attributable net income rose by more than 50% to $1.91 million, as the economy slowly picked up.

On Wednesday, Cirtek shares shed 2.08% or 11 centavos to finish at P5.19 apiece. — Angelica Y. Yang

Term deposit yields inch lower on strong demand

BW FILE PHOTO

YIELDS ON THE central bank’s term deposits slipped on Wednesday as oil prices inched down and amid demand for safe-haven assets due to concerns over the highly infectious Delta variant of the coronavirus disease 2019 (COVID-19).

Tenders for the term deposit facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) amounted to P741.811 billion on Wednesday, higher than the P560-billion offer and also surpassing the P741.224 billion in bids last week.

Broken down, demand for the seven-day papers hit P230.57 billion, beyond the P160 billion auctioned off by the BSP as well as the P215.972 billion in tenders seen in the previous offering.

Accepted rates for the tenor ranged from 1.65% to 1.7075%, lower than the 1.7% to 1.7175% margin seen a week ago. This caused the average rate of the one-week term deposits to slip by 1.05 basis points (bps) to 1.6992% from 1.7097% in the previous week’s auction.

Meanwhile, the two-week deposits fetched bids amounting to P511.241 billion, higher than the P400-billion offer but failing to beat the P525.252 billion in tenders recorded a week ago.

Banks asked for yields ranging from 1.7295% to 1.779%, dropping from the 1.75% to 1.7975% band logged last week. With this, the average rate for the 14-day tenor decreased by 1.63 bps to 1.7654% from 1.7817% quoted previously.

The central bank did not offer 28-day term deposits for the 39th straight week to give way to its weekly offerings of bills with the same tenor.

The BSP uses the TDF and its short-term bills to mop up excess liquidity in the financial system and to better guide market rates.

“The results of the TDF auction continue to reflect normal market conditions amid sustained ample liquidity in the financial system,” BSP Deputy Governor Francisco G. Dakila, Jr. said in a statement.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort, meanwhile, attributed the lower term deposit yields to improved sentiment on the back of a decline in global oil prices.

Reuters reported that oil prices went down on Wednesday following data which showed an unexpected buildup in US oil inventories the previous week.

Brent crude futures on Wednesday was down by 0.5% or 36 cents to $68.98 a barrel as of 0627 GMT following a 1.1% increase on Monday. Meanwhile, US West Texas Intermediate crude futures declined by 0.5% or 36 cents to $66.84 per barrel after a $1 increase on Tuesday.

Meanwhile, UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion attributed the lower TDF yields to higher demand as investors are looking to park their funds in safe assets due to concerns over the highly infectious Delta variant of COVID-19.

“It’s a rush to safer opportunities that eventually caused lower yields as demand increased,” Mr. Asuncion said in a Viber message.

The Health department last week reported that cases of the Delta variant of COVID-19 in the country stood at 35. Of these, 11 were locally acquired, while five were cases from returning overseas Filipinos. Eight of these cases are active while three have died. — L.W.T. Noble with Reuters

Dining In/Out (07/22/21)

Resorts World Manila rewards the vaccinated

INTEGRATED resort Resorts World Manila (RWM) joins the private sector-led campaign Ingat Angat in encouraging the public to get vaccinated and boost the country’s economy by going out, while still observing the minimum safety and health protocols. By getting protected from coronavirus disease 2019 (COVID-19), vaccinated individuals can now enjoy perks with RWM’s Good Jab Rewards, a property-wide campaign with offers from RWM signature restaurants, partner hotels, and dining outlets in Newport Mall. The campaign, which runs until Dec. 31, offers discounts of up to 50% to fully vaccinated guests who present their vaccination card. Among the participating restaurant are Casa Buenas, Silk Road, and The Grand Bar and Lounge at the Newport Grand Wing; and Garden Wing Cafe, Victoria Harbour Cafe, Bar 360, and Happy 9 at the Newport Garden Wing which offer 30% off with a minimum purchase of P1,000 until Sept. 30. (For reservations, call 7908-8888.) The Marriott Hotel Manila has several Good Jab offers running until Aug. 31: a minimum spend of P500 comes with a complimentary coffee at Marriott Cafe; a third shot of Dalmore 12 years is available for P500 at The Greatroom; and get a complimentary Custard Bun with a minimum spend of P2,000 from Man Ho. (For bookings and reservations at Marriott Cafe and The Greatroom, contact 8988-9990; and contact 8988-9999 for Man Ho.) Special deals are also up for grabs at Sheraton Manila Hotel. Enjoy 50% off on your lunch buffet at S Kitchen; while a complimentary bingsu with a minimum spend of P2,000 is available at Oori Korean Restaurant until Aug. 31. (For bookings, call 7902-1808.) Meanwhile, vaccinated guests can avail of a 50% discount on the dinner buffet at Hilton Manila’s The Marketplace Kusina Sea Kitchens from Mondays to Thursdays, until Aug. 31. (For bookings and reservations, call 7239-7788.) Grab the 30% discount offers of Okura Manila Hotel’s Yamazato Japanese Fine Dining for select food items including Chicken Teriyaki, Salmon Teriyaki, and Cold Green Tea Soba; and Okura at Home’s Nut-Crusted Salmon Fillet, Ebi Katsu Sando and Chasu Sando, available until Aug. 31. (For reservations, call 5318-2888, 5318-2815, or 0917-818-9868.) Vaccinated individuals can enjoy a slice of cake for every order worth P1,000 at Cafe Belmont, Ground Floor Belmont Hotel Manila until Dec. 31. (For reservations, contact 5318-8888.) The Savoy Hotel Manila offers a 15% discount on food and beverages with a minimum purchase of P2,000; while a free Blueberry Cheesecake in Can is available for a minimum purchase of P1,000 at Savoy Cafe and Grab and Go until Dec. 31. For a minimum package of P20,000, a 15% discount is available for function room booking (Meetings, Conventions, or Social Events) until Dec. 31. (For more information, contact 531-72869.) Newport Mall dining outlets also have deals for vaccinated guests. Parmigiano offers a free panna cotta with a minimum purchase of P500; Peri-peri Charcoal Chicken & Sauce Bar is serving up a free four-piece Cinnamon Sugar Peri Natas with a minimum purchase of P300; UCC Cafe Terrace gives out a free upsize on your Kori-Kohi; Crisostomo offers a free glass of ginumis or sago’t gulaman with a minimum purchase of P1,000; Crustasia Asian Seafood Market has a free Fresh Spring Roll with a minimum purchase of P1,500; McDonald’s offers 10% off for dine-in transactions; and Macao Imperial Tea is serving a Buy 1 Get 1 Black Pearl Milk Tea. Meanwhile, Wolfgang’s Steakhouse offers a complimentary drink (choice of classic cocktail, local beer, or iced tea) and Dessert of the Day with a minimum purchase of P1,000 for every vaccination card until Aug. 31. (For reservations, call 0999-842-7954. Terms and conditions apply.) For more information on RWM’s Good Jab offers for vaccinated individuals, visit www.rwmanila.com and follow @rwmanila and @newportmall on Facebook and Twitter, and @resortsworldmanila Instagram.

Max’s Group launches Bento Bilao

MAX’S Group is introducing an all-in-one Bento Bilao combining Filipino favorites from homegrown brands Max’s Restaurant and Dencio’s with signature dishes from the group’s Japanese concept Teriyaki Boy. The Bento Bilao is a one-of-a-kind “JaPinoy” featuring Max’s iconic lumpiang Shanghai and Dencio’s  pinaputok na pancit in the bilao side, while the bento side has 10 pieces of Teriyaki Boy’s gyoza and eight pieces of its maki rolls. The spread can satisfy four to five diners. It is available until July 23, Philippine-Japanese Friendship Day, and starts at P1,099 for take-out. Orders are exclusively available for take-out and delivery from the following Max’s Group stores: EDSA Eats – Cubao, Max’s Taytay, Max’s Jupiter, Max’s SM Bicutan, Max’s Pasig Kapitolyo, Max’s Antipolo, Max’s Commonwealth Fairview, Max’s Tagaytay, Max’s SM Fairview, Max’s Sumulong, Max’s Sucat, Max’s Kawit, Cavite, Max’s Las Pinas, Max’s Malate, and Max’s EDSA Caloocan. Delivery orders can be placed through 888-79000 for Metro Manila customers, or online at delivery.maxschicken.com. For more information, visit the official Facebook page at @MaxsRestaurant.

DoT launches Halal Food Tourism

COINCIDING with the celebration of the Muslim festival Eid’l Adha (Festival of the Sacrifice) on July 20 the Department of Tourism (DoT) launched the Halal Culinary Tourism series that introduces the initiative and showcases unique culinary finds in Mindanao. The video series can be viewed by the public on the DoT’s social media platforms including Facebook, YouTube and Instagram. Halal Culinary Tourism promotes the culinary heritage of Mindanao and the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) and consequently its destinations. The Mindanao Halal Culinary Tourism is a project of the DoT with the Brunei Darussalam–Indonesia–Malaysia–Philippines East ASEAN Growth Area (BIMP-EAGA). Featured in the launching video of the campaign are Halal-certified and Muslim-friendly establishments across Mindanao Regions. These include: Black Seed Burger in Davao City, which features “black seed” on burger, a traditional herb among western Asian culture that is believed to have medicinal values; SpiChef in Davao City, which offers a mango pineapple hot sauce, an innovation of fresh and natural herbs and spices; Bay Tal Mal in Zamboanga City, which offers traditional Moro dishes like tiyulah itum that is usually served during special occasions; and Hashy’s Cuisine in Cotabato City in BARMM, one of the pioneering Halal-certified sites in the region. Its culinary highlight is sinina kambing, a traditional Maguindanaon dish. Also featured are: Babu Kwan and Torogan Kape in Cagayan de Oro City, Pater al-Kuwait House of Palapa in Iligan City, Dennis Coffee Garden in Zamboanga City, Mama Ping in Cotabato City, Tambilawan Kamayan Restaurant in General Santos City, and Radin’s Guinamos in Agusan del Sur.

Jollibee offers J-ollympics Kiddie Meal toys

THIS JULY, Jollibee brings the joy of sports to kids with its newest Jolly Kiddie Meal set of collectible toys, the J-ollympics. The J-ollympics consists of seven sports-themed toys starring Jollibee and Champ engaged in various athletic activities: rowing a boat, playing basketball, badminton, golf, soccer, riding a bike, and boxing. The Jolly Kiddie Meal J-ollympics collection is available until Oct. 31. Each toy comes with its own Jolly Joy Box with every purchase of a Yumburger (P82), Yumburger Meal with Drink (P102), Jolly Spaghetti (P97), Jolly Spaghetti Meal with drink (P107), one-piece Burger Steak (P97), one-piece Burger Steak Meal with Drink (P114), one-piece Chickenjoy with Rice (P129), or one-piece Chickenjoy with Drink (P144). Kids can also complete the entire set of J-ollympics toys by ordering a six-piece Chickenjoy Bucket (P714). The toys can be collected by dining at a Jollibee branch, or one can have them delivered through the new Jollibee App, JollibeeDelivery.com, #87000 hotline, GrabFood, or foodpanda.

DoT backs Iloilo bid for UNESCO recognition

THE DEPARTMENT of Tourism (DOT) is supporting the bid of the Iloilo City government to be designated as a Creative City of Gastronomy by the United Nations Educational, Scientific, and Cultural Organization (UNESCO) Creative Cities Network 2021. The City of Gastronomy project is part of UNESCO’s Creative Cities Network, the umbrella project launched in 2004 covering seven creative fields — Crafts and Folk Art, Design, Film, Literature, Media Arts, Music, and Gastronomy. Currently, the UNESCO project has listed a total of 36 Cities of Gastronomy all over the world. If selected, Iloilo will be the first Philippine city to make it to the list. The DoT Western Visayas, the Megaworld Museums, and the National Commission for Culture and the Arts (NCCA) have a three-pronged program focusing on Ilonggo heirloom dishes called “Timplada: The Art of Ilonggo Cuisine.” This will include a series of virtual educational programs titled “Merienda Talks” from August to December to provide a more profound knowledge of Ilonggo ingredients and cooking. The opening of the Timplada exhibition is scheduled on Aug. 21, followed by the Ark of Taste Talk by Reena Gamboa highlighting food and tourism for rural development in Western Visayas on Aug. 28; and Pangyam-is Talk by Gilbert Marin as a component of the Western Visayas Sugar Trail on Oct. 9. An art exhibit  will tell Ilonggo food stories through the eyes of 10 Iloilo-based artists and in collaboration with 10 local food establishments, at the Iloilo Museum of Contemporary Art starting Aug. 21. An Ilonggo food map will also be drawn and printed for both local and international audiences to highlight the food trail.

Solane Kitchen Moments focuses on chef Boy Logro

CHEF Boy Logro started as a restaurant staff and went on to become the personal chef of a king. Somewhere in between that journey, however, the Pinoy chef created a dish that changed his life, and in cooking show Solane Kitchen Moments, Mr. Logro reveals the recipe to his breakthrough dish: Avocats aux Crevettes. It is a cold French hors d’oeuvre mainly made of avocados and shrimp. With some adjustments, he made the recipe his own and served it to the Sultan of Oman, who shortly after called for the sous chef who was working in the palace kitchen. The Sultan ordered Mr. Logro to prepare the dish every day for as long as he was working in the palace.  Mr. Logro then served as the personal chef of the Sultan — accompanying the latter in his travels and serving world-renowned guests including Queen Elizabeth, Princess Diana of Wales, George Bush, Sr. and former Philippine President Fidel V. Ramos. In Solane Kitchen Moments, Mr. Logro shows a couple of tricks on how to serve food fit for royalty, and according to host Suzi Entrata-Abrera.

YouTube adds money-making feature to attract creators

YOUTUBE on Tuesday launched a new way for video creators to earn money from fans through a feature called Super Thanks, as the Alphabet, Inc. streaming service looks to attract more content makers.

The feature, a fourth way for YouTubers to earn money from their viewers, comes as competing platforms like short-form video app TikTok and Facebook, Inc.’s Instagram are investing heavily to court creators filming viral videos.

Fans can purchase Super Thanks at four price points, from $2 to $50, as a way to express gratitude and support their favorite YouTube channels, the company said in a statement.

After a purchase on a video page, a highlighted comment will appear in the comment section, allowing the creator to respond to the fan’s gift with a comment.

The feature is available to thousands of creators in 68 countries, and will expand to all eligible creators in YouTube’s partner program.

Fans have been able to pay for exclusive content through channel memberships. Viewers on a livestreamed YouTube video can also pay for Super Chats to pin their comments to the top of the comment section. — Reuters

San Miguel to open second community market

SAN Miguel Corp. (SMC) said on Wednesday that its second community market is set to open late this month in South Luzon to help farmers and small business owners who were hit by the pandemic.

“The disruption to market and supply chains have left a lot of our farmers and SMEs unable to sell their produce and even provide for their basic needs. Through this we hope to be able to help them keep their businesses going while they provide essential services to the surrounding communities,” SMC President Ramon S. Ang said in a statement.

The weekend community market called Circolo, which aims to provide a safe and ready marketplace for pandemic-hit locals, is located at the company’s idle 4,000-square-meter property in Cabuyao, Laguna.

SMC described the location as “right in the middle of a high-traffic and bustling residential and industrial area.”

The community market is the second to be put up by the company this year. It comes after the soon-to-be-launched San Miguel Market at the company’s housing community in Sariaya town in Quezon Province.

SMC said that beyond the market’s economic benefits, it is also expected to help “grow the local economy and foster camaraderie safely among community members.”

“Since the start of the pandemic, SMC has been actively pursuing job and livelihood initiatives to help affected farmers and small businesses hit by lockdown measures sell their produce, adapt to the new normal and prepare for the future,” it said.

Mr. Ang also said that the Circolo community market will also showcase SMC brands Chick ‘n Juicy, TJ Hotdogs, Spam, San Mig Coffee, Purefoods, Veega, Magnolia Gold Label, Kambal Pandesal, and San Miguel Ethyl Alcohol.

“By offering these spaces rent-free, we can help the farmers and local businesses recover, reduce their expenses, devote more resources to capital, and earn more income. We are confident that the Circolo market will be a big help to them since the area is frequented by bikers, riders, travelers, and also residents in nearby housing communities,” he added.

BSP grants digital banking license to UnionBank

UNIONBANK of the Philippines, Inc. has secured the approval of the Bangko Sentral ng Pilipinas (BSP) to operate a digital bank.

The new lender which will be called Union Digital Bank (UnionDigital) will be a wholly owned subsidiary of UnionBank, the listed Aboitiz-led bank said in a filing on Wednesday.

The BSP approved UnionBank’s digital bank license application on July 15, it said, citing a letter from the regulator dated Monday. UnionBank filed its application in April.

“UnionDigital will support the unbanked and underbanked segments. We will set ourselves apart by leveraging on years of industry leadership in banking innovation, collaboration, and digital transformation,” UnionBank said in an e-mail.

BSP Circular 1105 released in December last year defined digital banks as lenders that provide financial services such as loans and deposits through an online platform and set it apart from universal, commercial, thrift, rural, cooperative, and Islamic lenders that have a brick-and-mortar model.

Digital banks are expected to help the central bank reach its goal to bring 70% of Filipino adults into the banked population and have 50% of payments done online by 2023.

UnionDigital is the fourth entity to get an online banking license from the BSP following Overseas Filipino Bank, a subsidiary of government-owned Land Bank of the Philippines; UNOBANK, a local unit of Singapore-headquartered DigibankASIA Pte. Ltd.; and Tonik Digital Bank, Inc., whose rural bank license was converted into a digital bank license.

Other local lenders such as Rizal Commercial Banking Corp. and Philippine National Bank have also expressed their interest in getting digital banking licenses from the BSP.

The central bank earlier capped licenses to be issued under the digital banking framework at five but officials said they could allow more players to operate if there is strong demand.

UnionBank’s net income in the first quarter jumped by 78% to P4.7 billion, supported by the improvement in its risk profile and its strong capital buffers.

Its shares lost 90 centavos or 1.17% to close at P75.95 apiece on Wednesday. — Luz Wendy T. Noble

Hotel News (07/22/21)

Vaccination deals at RWM hotels 

RESORTS World Manila (RWM) joins the private sector-led campaign Ingat Angat in encouraging the public to get vaccinated and boost the country’s economy by going out, while still observing the minimum safety and health protocols. By getting protected from coronavirus disease 2019 (COVID-19), vaccinated individuals can also now enjoy perks with RWM’s Good Jab Rewards, a property-wide campaign with offers from RWM signature restaurants, partner hotels, and dining outlets in Newport Mall. At the Sheraton Manila Hotel, vaccinated individuals can book an overnight stay for four in Club Deluxe with P2,000 dining credits is available for bookings until July 31, with a stay period until Sept. 31, for P 8,888++. To make one’s stay more relaxing, avail of a 25% off discount on all massage treatments at the Shine Spa, 3F Sheraton Manila until Aug. 31. (For reservations, call 7902-1808. 0 Meanwhile, the Hilton Manila offers a 25% discount on its dinner, bed and breakfast staycation (excluding Saturday nights) until Aug. 31, for those who have been vaccinated for COVID-19. (For bookings and reservations, call 7239-7788.) 

E-vouchers available for Seda hotels 

SAVE up to 50% on Best Available Rates at Seda Hotels new Online Store and prepare for your next stay for business or leisure. The promotion runs from July 15 to 30, for stays up to Dec. 30, 2022. The rates include breakfast, complimentary WiFi, use of guest facilities, and a parking slot (one car per room). The special rates are only offered at www.shop.sedahotels.com. Cancellation and rebooking are allowed at least 48 hours prior to date of check-in. E-voucher bookings may not be used in conjunction with prevailing discounts, privileges and promotions. Operations follow community quarantine and LGU safety guidelines. It must be noted that leisure stays may not yet be allowed in some hotels depending on pandemic protocols in their respective areas. 

Crimson, Quest hotels beckon vaccinated travelers 

FULLY vaccinated persons can look forward to exciting leisure stays at Chroma Hospitality’s managed hotel brands with the easing of the travel protocols. Guests can enjoy worry-free staycations at Crimson Hotels and Resorts in Mactan, Boracay or Manila, Quest Hotels in Tagaytay, Clark or Cebu, and Timberland Highlands Resort in Rizal. Leisure visitors can have peace of mind with the hotel group’s Culture of Clean, a program on enhanced safety standards as a response to the coronavirus disease 2019 (COVID-19) pandemic. The star-rated properties were also granted the Safety Seal Certificate by the Department of Tourism, and the Safe Travels Stamp by The World Travel and Tourism Council. And like before, guests can expect a seamless journey from their points of origin up to the duration of their actual stay. Crimson Resort & Spa Boracay offers an exclusive beachfront where guests can enjoy a luxurious stay as soon as they arrive onboard a private speed boat, and stay in elegantly designed rooms and villa. For an escape in Cebu, Crimson Resort and Spa Mactan boasts of sea views, island excursions, and watersports. For a refuge at a Zen sanctuary, the award-winning Aum Spa offers holistic treatments and massages to calm the mind and bodyIn Cebu’s commercial district the three-star, 427-room Quest Hotel and Conference Center is tops for business and leisure. Rooms for persons with disabilities are available on request. In the upland resort city of Tagaytay, Quest Hotel beckons urban weekend vacationers to enjoy cool air, the picturesque Taal Lake and Volcano, and its signature dishes in the ridge. Quest Plus Conference Center, Clark is known as business and pleasure hotel, with its leisure facilities and the two world-class Mimosa Plus Golf Courses. Sports lovers will enjoy Timberland Highlands Resort, the newest property managed by Chroma Hospitality, perched in the mountains of San Mateo town. The sprawling resort is poised to be the newest haven for cycling enthusiasts with its challenging bike trails and a farm- and nature-themed family hideaway .In Metro Manila, Crimson Filinvest City is a southern urban escape where leisure travelers can enjoy a staycation with views of the metropolitan skyline,  Laguna Lake, and the Sierra Madre, and Mt. Makiling. The luxe hotel boasts of a swimming pool and lounge, a 24-hour fitness center, and an array of dining options in Café Eight, Firehouse Pizza, Baker J, and Lobby Lounge. For more information, visit www.crimsonhotels.comwww.questhotelsandresorts.com and timberlandresort.com, or follow Chroma Hospitality’s social media accounts on Facebook and Instagram.  

Manila jumps four spots in financial and lifestyle attractiveness ranking (but still lags in the region)

Manila jumps four spots in financial and lifestyle attractiveness ranking (but still lags in the region)

How PSEi member stocks performed — July 21, 2021

Here’s a quick glance at how PSEi stocks fared on Wednesday, July 21, 2021.


PSEi ends lower on lockdown fears, Fitch move

BW FILE PHOTO

STOCKS declined on Wednesday as investors remained worried about the Delta variant of the coronavirus disease 2019 (COVID-19) and after Fitch Ratings revised its outlook on six Philippine banks to “negative.”

The Philippine Stock Exchange index (PSEi) declined by 110.99 points or 1.68% to close at 6,476.21 on Wednesday, while the broader all shares index lost 53.55 points or 1.31% to end at 4,031.

“The PSEi fell…, failing to rebound despite a rally shown from the US,” COL Financial Group, Inc. Chief Technical Analyst Juanis G. Barredo said in a separate Viber message.

“Weakness prevailed likely because of a banking outlook downgrade by Fitch and worries investors have over the possible spread of the Delta variant of COVID that may lead to more lockdowns,” Mr. Barredo added.

“Philippine shares continued to be sold down with many issues already hitting or approaching oversold levels triggered by the spread of the Delta variant,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

President Rodrigo R. Duterte said in his public address on Monday night that the government may reconsider enforcing stricter mobility restrictions after the country logged new Delta variant cases.

The Health department last week reported that cases of the Delta variant of COVID-19 in the country stood at 35. Of these, 11 were locally acquired, while five were cases from returning overseas Filipinos. Eight of these cases are active.

Meanwhile, Fitch on Monday revised its rating outlook on six Philippine banks to “negative” from “stable.” These banks are Land Bank of the Philippines, Development Bank of the Philippines, Bank of the Philippine Islands, Philippine National Bank, BDO Unibank, Inc., and Metropolitan Bank & Trust Co.

The outlook cut means these banks’ ratings could be downgraded in the next 12-18 months.

All sectoral indices went down on Wednesday. Financials dropped by 43.82 points or 3.05% to 1,392.99; industrials shaved off 194.81 points or 2.08% to 9,145.80; holding firms lost 112.56 points or 1.71% to finish at 6,459.69; mining and oil declined by 160.53 points or 1.67% to 9,452.77; services shed 14.06 points or 0.9% to 1,543.67; and property went down by 18.63 points or 0.6% to close at 3,085.73.

Value turnover decreased to P5.9 billion with 1.60 billion shares switching hands on Wednesday, from the P6.54 billion with 2.11 billion issues logged on Monday.

Decliners beat advancers, 167 versus 45, while 41 names remained unchanged.

Net foreign selling increased to P572.26 million on Wednesday from the P362.2 million seen the previous trading day.

“The index sank below a critical 6,500 support zone and has 6,350 to 6,150 as its next levels to look [out] for,” COL Financial’s Mr. Barredo said, but noted the PSEi could rally soon. — Keren Concepcion G. Valmonte