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Care for Davao chocolate or tea from Iloilo?

Order some from the National Food Fair online

IN the past, The National Food Fair opened the doors for regional sellers to show off their wares, introducing delicacies from every corner of the Philippines to curious buyers in malls and convention centers. But because of the ongoing coronavirus disease 2019 (COVID-19) pandemic, things have had to change and this year the fair has gone virtual with the Department of Trade and Industry (DTI) launching the 2021 Hybrid National Food Fair as a digital mall where one can order foodstuff as diverse as chocolate from Davao to tea from Iloilo.

The mall was launched via Facebook Live on Sept. 17. This is the third such initiative of the DTI, which had to adapt to problems posed by the pandemic. The first two digital malls and hybrid fairs were for the National Trade Fair in December last year, and the National Arts and Crafts Fair in March of this year.

“Our food entrepreneurs will now have their own permanent e-commerce platform with today’s official launch of the National Food Fair Digital Mall,” said Marievic Bonoan, Director of the Bureau of Domestic Trade Promotion (BDTP). The online mall, accessible through nff.linker.store, is hosted on UnionBank GlobalLinker (the financial institutions’s digital SME online platform).

At the time of the launch, there were 836 food products and 108 merchants from 16 regions on the website, said Ms. Bonoan. “You can satisfy your cravings for the regional delicacies,” she said.

Undersecretary Abdulgani Macatoman of the Trade Promotions Group remembers that in 2019 (when the last physical iterations of the three aforementioned fairs were held) the fairs combined attracted 115,000 visitors and earned P193 million in revenue for over 782 exhibitors, composed mostly of micro, small, and medium enterprises (MSMEs).“You can just imagine the severe impact on our MSMEs nationwide,” he said. “Fortunately, my colleagues in the department were able to quickly adapt by introducing creative solutions to help alleviate the situation for our beloved MSMEs.”

Aside from the creation of the online mall, the DTI has also partnered with e-commerce platforms Lazada and Shopee for online food fairs, with the added advantage that since the food fairs were held, the participating entrepreneurs have been onboarded onto the platforms. To prepare them for digitization, the DTI held workshops and webinars on forming their own online businesses. The department has also partnered with a farm-to-table e-commerce platform, mayani.ph. Mr. Macatoman added that the MSMEs participating in the Hybrid National Food Fair mall “will have access to functionalities and networks to help grow and manage their business.”

“We hope that this will broaden the exposure of our food entrepreneurs and introduce their products beyond our borders, to reach customers abroad,” he said.

The mall will stay open beyond the National Food Fair schedule, which runs until Sept. 26. Activities and webinars about topics such as sustainable packaging and TikTok marketing are still slated for the last days of the food fair, with a schedule and signup sheet posted on the BDTP Facebook page (facebook.com/DTI.BDTP/). — Joseph L. Garcia

NLEX Corp. aims to finish España connector section in Q1

NLEX Corp. announced on Wednesday that it targets to complete the first five kilometers of its P23-billion connector road project in the first quarter next year.

The company said in an e-mailed statement that the first section of the eight-kilometer NLEX Connector project is now 45% finished.

Caloocan Interchange to España Boulevard is the first section of the project.

The eight-kilometer toll road project aims to link the tail of NLEX Harbor Link Segment 10 at Circumferential Road 3 (C3), Caloocan City to Polytechnic University of the Philippines in Sta. Mesa, Manila.

“Once completed, the NLEX Connector will have four toll plazas and interchanges in C3 and España,” the company said.

“It is expected to serve 35,000 motorists daily and provide better access to Manila Ports and airports such as NAIA (Ninoy Aquino International Airport) and Clark,” it added.

The project is seen to enable faster transport of goods and services between Metro Manila and Luzon provinces.

NLEX Corp. is under Metro Pacific Tollways Corp., the tollways unit of Metro Pacific Investments Corp., one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT, Inc.

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

Cryptocurrency channels targeted in Biden’s fight against ransomware

THE Biden administration plans a fresh campaign against ransomware attacks through sanctions to cut off criminals’ cryptocurrency pipelines, and it urged companies to report extortion attempts and better protect themselves from them.

Deputy Treasury Secretary Wally Adeyemo told reporters that the sanctions would be imposed on Suex, a cryptocurrency transferring service that’s registered in the Czech Republic. He said Suex had “facilitated transactions involving illicit proceeds for at least eight ransomware variants.”

He said “exchanges like Suex are critical to attackers’ ability to extract profits,” pointing out that this was the first such action by the Office of Foreign Assets Control against a virtual currency exchange.

Both Mr. Adeyemo and Deputy National Security Adviser Anne Neuberger, who also briefed reporters in a conference call on Monday evening, underscored the importance of ransomware victims coming forward and vulnerable businesses and organizations taking steps to bolster their security.

Mr. Adeyemo announced new Treasury Department guidance that makes “an express statement that the US government strongly discourages the payment of cyber ransoms or extortion demands.”

Ms. Neuberger likened companies armoring themselves against cybercrime to motorists and home owners buying insurance.

“It incentivizes us to drive more safely,” she said. “You get a number of moving violations, your insurance goes up. Get into accidents, it goes up. Similarly, when you look at our home insurance, in order to get home insurance, you have to have a smoke detector or have an alarm system.”

“When we look at cybersecurity, what we’re grappling with is what seems to be the lack of incentives for companies to make the investment to modernize their defenses to meet this threat,” Ms. Neuberger said.

The actions amount to another foray by the administration after ransomware attacks earlier this year disabled the meat giant JBS SA, which eventually paid an $11-million ransom, paralyzed Colonial Pipeline Co.’s flow of gasoline on the US East Coast and imperiled healthcare providers in the midst of the coronavirus pandemic.

Since its inception in 2018 as a venue for transferring digital currency and turning it into cash, Suex has moved hundreds of millions of dollars in illicit digital coins, including more than $160 million in Bitcoin alone, according to the cryptocurrency research firm, Chainalysis.

Suex’s addition to the Treasury Specially Designated Nationals and Blocked Persons List prohibits Americans from doing business with it.

Ransomware is a type of malware that encrypts a victim’s data. Cybercriminals often steal the data, too. The hackers then ask for a payment to unlock the files and promise not to leak the stolen data. In recent years, hackers have been targeting victims with cyber insurance policies and huge volumes of sensitive consumer data that make them more likely to pay a ransom, according to cybersecurity experts.

A task force established by the Institute for Security and Technology said cyberattacks became a $350-million criminal industry in 2020 — a 311% increase over 2019. The task force recommended 48 actions that the Biden administration and private sector could take to mitigate such attacks, including better regulation of the digital currency market used to make ransom payments.

The Biden administration has determined that ransomware is no longer limited to independent cartels seeking to simply make a profit from extortion. Instead, nation-states may be using the attacks as a tool to disrupt government or private operations.

For instance, in April the Treasury Department sanctioned Russian entities for helping to facilitate cyberattacks and tied a Russian intelligence agency to a ransomware group known as Evil Corp. Then in July, western intelligence accused the Chinese Ministry of State Security of conspiring with hackers to execute a series of malicious ransomware, data theft and cyberespionage attacks against public and private entities, including the sprawling Microsoft Exchange hack earlier this year. — Bloomberg

PHL markets see ‘little impact’ from China’s Evergrande crisis

REUTERS

LOCAL FINANCIAL markets have seen “little impact” from the debt crisis involving China’s Evergrande Group, according to officials of Citi Philippines.

“All I can say is that ever since Evergrande blew up, there has been very little impact if you take a look at how the currency is or even in the volatility is experienced in the equity markets locally,” Paul A. Favila, head of Markets & Securities Services and country treasurer at Citi Philippines, said at an online briefing on Wednesday.

“There seems to be very little impact, which is an indication as to the correlation of the Chinese economy…to what’s happening in the Philippines as we have always been an internally driven, very much consumption-driven economy,” he added.

Finance Secretary Carlos G. Dominguez III on Tuesday said they are looking into whether any Chinese contractors participating in the country’s infrastructure program that will be negatively affected by Evergrande’s situation.

Evergrande’s main unit, Hengda Real Estate Group, on Wednesday said it would make a coupon payment on its domestic bonds on Sept. 23, providing some relief to markets that were concerned over a possible default, Reuters reported.

The People’s Bank of China last month summoned officials of Evergrande about the need to reduce its debt risks and prioritize stability. Evergrande is facing liabilities worth more than $300 billion, equivalent to 2% of China’s gross domestic product.

Stuart Staley, Citi’s head of Markets & Securities Services in Asia Pacific, said they do not see contagion risks, at least in the short term, for economies in the region, but noted the Evergrande crisis’ impact on China could have some “second-order effects.”

“I think in the short run, we’re not expecting a contagion. But it does have the high potential to affect the economic growth rate within China, and that will have a second-order effect on not just the Philippines, but all the economies that are heavily linked through trading interactions in Asia,” he said.

Mr. Staley believes China’s “government-driven economy” will be one of its strong points in tacking the Evergrande situation.

Amid these emerging risks and as the country continues to struggle with the pandemic, Mr. Favila said the Bangko Sentral ng Pilipinas will likely continue supporting the economy by keeping rates low.

“I think the Philippines will be one of those economies that will have to keep loose monetary policy,” he said.

“In our case, we are right smack in the middle of another resurgence and our population is much larger than a lot of our peers, which makes it a bit more challenging in terms of delivering vaccination,” Mr. Favila added.

The Monetary Board will meet to review its policy settings on Thursday. A BusinessWorld poll held last week showed 17 out of 18 analysts believe the central bank will keep the rates unchanged despite rising inflation. — L.W.T. Noble with Reuters

What is the Moon Festival? A scholar of Chinese religions explains

A LIMITED supply of handcrafted mooncakes from The Peninsula Boutique Hong Kong is available at The Pen Manila. Choose from a selection of mini egg custard mooncakes in a box of eight for P4,888, or a box of four mini egg custard mooncakes for P3,388.

WITH the arrival of September and hints of cooler temperatures also comes one of most important traditional festivals in the Chinese calendar, the Mid-Autumn Festival, or Zhongqiu jie, also known as the Moon Festival.

At this time of the year, the Chinese store down the road from our home in Gainesville, Florida, is stocked with mooncakes, known in Chinese as yuebing. The same is true of Chinese stores around the world. There is even the option these days of buying these desserts from online retailers such as Amazon.

These traditional delicacies are readied in anticipation of the festival, observed on the 15th day of the eighth lunar month. This is a time for family and friends to gather, watch the full moon and eat mooncakes and other delicacies. Other festivity highlights include public lantern displays, dance parties, traditional performances and worship of the moon goddess and other deities.

Because of the central theme of family reunion, sometimes the festival evokes comparison to Thanksgiving in the US.

The gifting and eating of mooncakes is arguably the most emblematic feature of the festival. The round shape of the mooncake is meant to evoke an image of the full moon. The roundness of the full moon, in turn, symbolizes wholeness; by extension, it conveys a sense of spiritual contentment, coming together and reunion.

Usually, mooncakes come with traditional fillings, such as red bean or white lotus seed paste. There are many regional variations, some of which contain a preserved egg yolk in the middle. The yellow egg yolk adds another layer of symbolism, as it resembles the round moon in the sky.

Additionally, there are contemporary flavors such as chocolate, coffee or green tea. It is even possible to find ice cream mooncakes. These are created by commercial ice cream companies in order to tap into the lucrative mooncake market and cater to contemporary tastes.

As a scholar of Chinese religions, I am especially fascinated by the legends associated with the origins of the festival. These are notable elements of popular lore, rooted in China’s long history and rich cultural traditions.

Customarily, the Mid-Autumn Festival is associated with the popular legend about Chang’e, the goddess of the moon. The earliest versions of the story can be traced back to the Warring States, a significant historical period between 475-221 B.C., marked by recurrent warfare, bureaucratic reforms and political consolidation.

Chang’e is said to have stolen the elixir of immortality from her husband, Yi, the great archer and hero of Chinese mythology. She then escaped to the moon, where she was condemned to a lonely existence.

Later versions of the story, still told today, present a more flattering image of the goddess. She is described as a model of feminine beauty and elegance. She digests the elixir only in order to prevent it from falling in the hands of an evil person. She then chooses the moon as her immortal abode, to be close to her beloved husband.

On his part, Yi makes sacrifices to his departed wife that feature cakes and fruits. The local people sympathize with him and also start making the same offerings.

To this day, Chinese people continue this tradition, making offerings of mooncakes in commemoration of the goddess as they make wishes or pray for familial unity and harmony.

In the agricultural society of premodern China, the Mid-Autumn Festival was linked with harvesting season celebrations.

The term “mid-autumn,” which became the name of the festival, appears in Zhou li, or the Rites of Zhou. This is one of the early Confucian classics, the core texts that constitute the main canon of classical Confucianism. The earliest history of the festival is uncertain, but scholars have shown that its celebration already took place during the Tang era that lasted from 618-907 A.D., and increased in popularity during the later imperial period.

The Mid-Autumn Festival is also celebrated in Asian countries beyond China, as well as among the Chinese diaspora in other parts of the world. This is especially the case with Southeast Asian countries with large ethnically Chinese populations, such as Singapore, Malaysia, and Thailand.

It is also an important festival in Vietnam. Called Tét Trung Thu, it is primarily celebrated as the children’s festival and is associated with unique Vietnamese legends.

Besides moon watching and the ubiquitous mooncakes, among its unique features are the performances of traditional dances and the lanterns carried by children, as they walk under the glow of the full moon with their light illuminating the path.

 

Mario Poceski is a Professor of Buddhist Studies and Chinese Religions at the University of Florida.

NEA loans to power providers hit P455M as of Aug.

PHILSTAR FILE PHOTO

THE National Electrification Administration (NEA) as of end-August has lent P455.29 million to 19 electric cooperatives (ECs) for their capital expenditure (capex) projects and facility restoration works.

“Data from the NEA Accounts Management and Guarantee Department as of Aug. 31, 2021 showed that the bulk or P380.293 million of these loans went to 16 ECs to help finance their various capex projects and working capital requirements,” it said in an e-mailed statement on Wednesday.

The loans extended to the power distribution utilities are under the agency’s “enhanced lending program.”

Of the 16, three cooperatives — Camarines Sur III Electric Cooperative, Inc., Camarines Sur IV Electric Cooperative, Inc., and Quezon I Electric Cooperative, Inc. — borrowed money from the NEA to fund restoration works on facilities hit by recent typhoons, the agency separately told BusinessWorld through its Twitter account.

The power providers join three other ECs which were able to collectively secure at least P75 million in calamity loans for the repair and restoration of power facilities affected by typhoons Quinta, Rolly and Ulysses in the eight months ending August.

The agency’s enhanced lending program covers regular, calamity, concessional, and renewable energy loans, among others.

Its calamity loan has an interest rate of 3.25% per annum, and a maximum repayment term of 10 years, with a grace period of one year.

NEA, which is working towards achieving total electrification in the country, previously said it had brought power to a total of 590 rural villages or more than half of its 2021 target in the first six months of the year. In July, the agency said that majority or 326 of the newly “energized” sitios are in Mindanao.

This year, NEA has a budget of P1.63 billion under the General Appropriations Act. It has been asking for additional funds of up to P16.76 billion to be allotted over the course of five more years so it can bring power to more than 11,000 rural villages under the sitio electrification program. — Angelica Y. Yang

Facebook looks to carve out market for mobile video-chat device

FACEBOOK, Inc. introduced a portable version of its Portal video-chat device, looking to provide a more mobile alternative to Amazon.com, Inc.’s Alexa hardware and other so-called smart speakers.

The product, called the Portal Go, has a 10-inch screen, 12-megapixel front camera and speakers. It also has a rechargeable battery so it doesn’t need to stay plugged into a wall, a first for the nearly three-year-old Portal lineup.

That suggests the Portal is tiptoeing into the market for Apple, Inc.’s iPad and other tablets, but Facebook maintains that the device’s main use is still videoconferencing. And — at a hefty three pounds (1.4 kilograms) — it will be harder to lug around than an iPad.

Facebook will have to convince shoppers why they need such a product. Many tablets have the same capabilities as a Portal, and they’re already entrenched in consumers’ homes. A mobile smart speaker may be a harder sell.

The company is marketing the technology as a way to easily move video-chat conversations from room to room, and listen to music throughout the house. The price, at $199, is also cheaper than an iPad. The basic iPad costs $329, though refurbished models and Android tablets can be found for much less. Apple is currently selling a 2017 iPad for $199, and Amazon and other Android device makers are offering tablets for under $200.

Facebook also launched a new $349 Portal+ on Tuesday with a 14-inch screen and better speakers. That device still requires a constant wall connection and weighs four pounds. In a demonstration, Facebook said some consumers like to use the device as a dedicated video-chat machine alongside their main desktop computer.

In part, Facebook is going after the business videoconference market. In addition to supporting Facebook’s video-chat system and Amazon’s Alexa voice control, the new models will work with Microsoft Teams, BlueJeans, GoToMeeting, Zoom and WebEx. The smart screens also have a digital-photo frame feature and some third-party apps like Spotify.

Both new products begin shipping to consumers on Oct. 19, Facebook said. It’s contending with a crowded season for new devices. Apple unveiled its latest technology last week, and Amazon is holding a launch event on Sept. 28. — Bloomberg

BoJ flags pressure on economy

WIKIPEDIA.ORG

THE BANK of Japan (BoJ) held its key stimulus tools in place while flagging COVID-linked pressures on the economy ahead of a key ruling party election that is almost certain to determine the country’s next prime minister.

The BoJ kept its negative interest rate and asset-buying targets unchanged Wednesday, as widely expected by economists. The bank trimmed its view of exports and production to reflect the hit to supply chains from the latest virus wave while keeping its overall view of the economy unchanged.

The central bank also unveiled more details of its green lending program. The BoJ said it would immediately start accepting applications and would begin making the loans in December.

The stand-pat decision comes a week before a ruling party election to pick Prime Minister Yoshihide Suga’s successor. The new leader of the Liberal Democratic Party is expected to put together a stimulus package to help the economy, still in a state of emergency, get back on a firmer recovery track.

“I don’t think the BoJ is trying to nudge a new LDP leader into compiling a massive economic package, but whoever wins the election, the size of fiscal spending will be at least 30 trillion yen ($274 billion). They have a national election to fight,” said Yuichi Kodama, chief economist at Meiji Yasuda Research Institute.

The power of production and exports to drive the recovery is weakening so consumer spending will be key in driving the economy going ahead, Mr. Kodama said. “With vaccination progress, consumer spending could start picking up later this year, but that also depends on the COVID situation,” he added.

A weak inflation pulse is also trapping the BoJ in a holding-pattern on stimulus while the Federal Reserve and other central banks start to or consider reining in their pandemic measures.

In a busy week for central banks, the Fed concludes its own meeting just hours after the BoJ gathering and is likely to offer clues about its tapering plans that could keep downward pressure on the yen or lead to a short-term lift depending on how sanguine Jerome Powell is on the economy.

The LDP prepares next week to pick a new leader who, due to the party’s dominance in parliament, will almost certainly become the next prime minister.

Economists don’t see a new administration putting any immediate pressure on the BoJ to shift policy, especially while the pandemic rages on, but that could change later. Front runner Taro Kono, Japan’s vaccine czar, sees the BoJ’s 2% target as very hard to hit.

At the end of the month, Haruhiko Kuroda will become the BoJ’s longest-running governor, an outcome that reflects his ability to keep political and market pressure at bay more than his success in generating inflation.

Since the BoJ last met in July, Japan suffered its worst wave of the pandemic yet. Another state of emergency was extended through September and the spread of the Delta variant has scared consumers, even though case numbers have dropped in recent weeks and more than half the population is now vaccinated.

Conditions have also deteriorated for the manufacturers that have powered the recovery. Toyota Motor Corp. and other Japanese automakers have announced factory stoppages due to shortages of semiconductors and other parts as the impact of COVID crimps Asia’s supply networks.

Some BoJ board members have hinted that the bank may need to cut its growth forecast in an outlook report due next month.

Mr. Kuroda was set to hold a press conference at 3:30 p.m. — Bloomberg

Dining In/Out (09/23/21)

Fores to talk on The Zero Waste Kitchen

HANDS on Manila will celebrate its 20th anniversary and Servathon 2021 with a virtual talk on The Zero Waste Kitchen by chef Margarita Fores via Zoom on Oct. 9 at 10:40 a.m. To attend the talk only is P300, while the talk plus a lunch kit with free delivery (Cibo’s Penne al Telefono, spinach dip with crostini, and mango juice) is P1,000. Register is ongoing until Oct. 6 via https://forms.gle/Q9xvZaCsNe7vN3Lo8.

McDonald’s warns of fake McDelivery site

MCDONALD’S Philippines has released an advisory in its Facebook page advising customers that there are now phishing and fraudulent websites that identify themselves as the official McDonald’s Philippine delivery website, offering special discounts and promos. This is not McDonald’s official delivery website, nor is it recognized or related to McDonald’s. The public is encouraged to be extra careful and to conduct transactions only on official and verified sites. To confirm official McDonald’s Philippines sites, or to report fraudulent websites, one can e-mail writeus@ph.mcd.com, and to the proper authorities at operations@ipophil.gov.ph. The company reminded the public that McDonald’s products are only offered and sold in the official platforms and partners as follows: the official McDelivery website (mcdelivery.com.ph), the official McDonald’s PH App, the official McDonald’s Facebook (facebook.com/McDo.ph) page, Grab, foodpanda, Lazada, pickaroo and GLife.

RWM reopens al fresco dining

NOW that dining out is an option once again, Resorts World Manila (RWM) has reopened its dining options for everyone who missed going out. RWM’s al-fresco dining spots return for a laid-back dining atmosphere. Newport Parklet fires up its grill with classic Pinoy street food BBQ, while Holiday Inn Express Manila Newport City’s Jardin offers classic pizza flavors at the open garden. Both outdoor dining outlets are open daily from 4-10 p.m. At the Grand Wing, guests can dine under the stars at Hilton Manila’s Vubble pods. Three-course dinner packages (ala minute menu with wine pairings) for two start at P12,500 nett. RWM’s Casa Buenas, Silk Road, and Newport Mall dining outlets are also open at limited capacity dine-in. To ensure public safety, patrons are requested to follow the standard health and safety protocols within the property. For more information on RWM’s dining offers, visit www.rwmanila.com and follow @rwmanila on Facebook and Twitter, and @resortsworldmanila Instagram.

Nespresso launches Reviving Origins program

NESPRESSO launches the Reviving Origins program, a long-term approach to revitalizing coffee agriculture and coffee economies through supporting sustainable production in regions impacted by conflict, economic hardship, and environmental disasters. Since its launch in 2019, the Reviving Origins program has made some of the world’s finest and most exclusive coffees from areas of Zimbabwe, Uganda, Colombia, the Democratic Republic of Congo, available as seasonal blends to Nespresso coffee drinkers. From one of the world’s most fragile farming regions, the Kahawa ya Congo (Hope of Congo) coffee is a smooth and fruity seasonal blend, grown on the rain-rich volcanic soils of Lake Kivu in the Democratic Republic of the Congo where the once-thriving coffee farming community has been devastated by decades of political and economic instability. The Kahawa ya Congo coffee is split roast, meaning that a small portion of the beans gets a darker roast to bring out the full intensity and body of the coffee. In cup, the smooth and balanced Arabica reveals alluring sweet cereal and nutty aromas, reflecting its ideal terroir origin. With milk, meanwhile, these aromas are transformed into a light, sweet and creamy cup full of biscuity notes, a hint of walnut, and a silky texture. Nespresso is also introducing three other seasonal Reviving Origins coffees for 2021: Amaha awe Uganda, a single origin coffee with medium acidity and body, grown in the Rwenzori Mountains of Uganda; Tamuka mu Zimbabwe, a flowery espresso from the famous Honde Valley in the Zimbabwean Eastern highlands; and Esperanza de Colombia, a rich and balanced Arabica espresso, with fruity notes and fine acidity, from the Colombian regions of El Rosario and Caquetá. Arriving in local stores towards the end of September is Cafecito de Cuba, the first Cuban blend under the Reviving Origins program. Produced from 100% pure Cuban Arabica, it is an intense roasted coffee that boasts powerful smoky notes of wood and tobacco leaves. The Reviving Origins coffee range will be available for a limited time only in Nespresso’s boutiques, pop-up stores, and online at www.nespresso.ph.

Jollibee’s new Honey Beef Rice now available nationwide

AFTER launching in select Metro Manila stores, Jollibee has made its new Honey Beef Rice available across the nation this week. Honey Beef Rice features tender beef slices glazed with sweet soy sauce, on top of a hot bed of soft rice. It is available for P149 solo and as a value meal for P169. It’s also available as a Family Pan for sharing in two sizes: one good for six and the other good for eight. It is available via the Jollibee Delivery App, JollibeeDelivery.com, #87000, GrabFood, and foodpanda, Drive-Thru and Take Out.

Racks celebrates burgers with Friday deals

RACKS, the homegrown American comfort food and ribs restaurant chain, offers its signature freshly grilled flavor in its new burgers in time for World Cheeseburger Day. The “Real Deal Burgers of Racks” include BBQ Pulled Pork Sandwich. This Southern USA inspired pork barbecue creation is cooked slow and low. The meat is shredded and soaked in classic barbecue sauce and topped with homemade coleslaw. The Great Cheeseburger is made with imported ground pork belly and US Angus rib eye seasoned with a pinch of salt and pepper, topped with layers of fresh lettuce, sliced tomato, American cheese, caramelized onions and special barbecue and homemade burger sauce, and as with the other signature sandwiches. The Racks Signature Burger is a combination of the barbecued pulled pork and cheeseburger, topped with layers of fresh lettuce, sliced tomato, American cheese, caramelized onions and special barbecue and homemade burger sauce. All three burgers are served with its signature onion block or Belgian fries. To celebrate the newest additions to the menu, Racks is also offering a free BBQ Pulled Pork Sandwich when the customer buys two Great Cheeseburger or Signature Burger every Friday starting Sept. 24, a promo which it calls Burger Friday. To learn more about the Real Deal Burgers of Racks, visit the official Facebook page at www.facebook.com/racksphl or the Instagram page @racks.ph.

Cake and gelato treats with Cara Mia

CAKE and gelato brand Cara Mia is now at Shangri-La Plaza and is now open for takeout and delivery. Cara Mia is known for its Classic Ube Cake, with other bestselling flavors being Pistaccio Cioccolato (a chocolate chiffon cake layered with pistachio filling and topped with deep dark chocolate) and the Mango Magnifico (mangoes in whipped cream with cashew brittles in light chiffon). It is also home to Italian gelato in decadent flavors like Pistachio, Coffee Mudslide, and Chocolate Therapy as well as in fruity flavors like Strawberry Supreme, Mango Cream Pie, and Blueberry Cheesecake, all of which are available in pints and tubs. The Cara Mia kiosk is located right in front of Shangri-La Mall’s The Marketplace at the Lower Ground Level, Main Wing for takeout and delivery. The kiosk is open daily from 10 a.m. to 6 p.m. To order, contact the Cara Mia hotline at 8-822-1111 or visit www.caramia.ph.

Pastry chef whips up Double Delight desserts

PASTRY chef Julianne Bernardo of Jcuppacakes elevates her classic muffins into Double Delight treats. A two-in-one dessert, the Double Delight features an array of premium gourmet cupcakes topped with sweets, candies, pastries and frostings. This comes in six flavors: Classic Snicker Chocolate, Mocha Cream Puff Caramel, Red Velvet ‘n’ Macaron, Vanilla Birthday ‘n’ Macaron, Oreo Cheesecake with White Chocolate Cereal Creampuff, and Ube Lecheese. It comes in boxes of six or 12. Double Delight is the newest addition to Jcuppacakes’ growing line-up of desserts headlined by the best-selling cheesecake series in Blueberry, Ube Pastillas, Oreo Madness, and Brazo de Mercedes. The bread and pastries menu ranges from cinnamon rolls and towers, “cupsaymadas” and moist chocolate crinkles to cheese rolls, stuffed breads, and empanaditas. She also offers premium buttercream cakes and specialized bespoke creations. Ms. Bernardo, a graduate of De La Salle-College of St. Benilde (DLS-CSB) School of Hotel, Restaurant, and Institution Management (SHRIM), launched the brand’s first online bakeshop in 2011. For more selections, visit www.jcuppacakes.com or their official pages on Facebook (https://www.facebook.com/J.Cuppacakes/) and Instagram (https://www.instagram.com/jcuppacakes/).

Grab PHL, MOVE IT partner for motorcycle taxi hailing services

GRAB Philippines announced on Wednesday that it has partnered with MOVE IT for the latter’s motorcycle taxi hailing services.

In an e-mailed statement, Grab Philippines said the partnership aims to help enhance mobility conditions in Metro Manila by providing MOVE IT motorcycle taxi services on the Grab app.

Another goal is to widen the market access and availability of MOVE IT motorcycle taxi services.

“Grab Philippines will work with MOVE IT to enable the booking of MOVE IT riders through the MOVE IT tile which will be available on the Grab app beginning Thursday, 23 Sept. 2021,” the company said.

The move should “provide more Filipinos greater access to the motorcycle taxi services of MOVE IT, in addition to the passengers that MOVE IT riders can serve through the MOVE IT app,” Grab Philippines noted.

The partnership is also seen to enable both companies to provide the government’s technical working group overseeing the motorcycle taxi pilot with more safety statistics and insights on motorcycle taxi safety. — Arjay L. Balinbin

PNB launches two new global feeder funds

BW FILE PHOTO
PHILIPPINE National Bank launched two offshore feeder funds. — BW FILE PHOTO

PHILIPPINE NATIONAL Bank (PNB) has launched two new global feeder funds to help clients diversify their portfolios and generate higher income by investing in global assets.

The bank’s trust banking group is offering the new funds to local investors aiming for long-term capital growth, with 90% of assets to be allotted in a certain target fund, PNB President and CEO Jose Arnulfo A. Veloso said in a press release on Wednesday.

“The PNB Global Feeder Funds give our investors the ability to venture globally and diversify into global stocks,” PNB Chief Trust Officer Jiah R. Santos said.

One of the new funds is the PNB World Perspectives Equity Feeder Fund, which will have the Franklin Global Growth Fund as its target fund. Investors will be able to tap international companies known for their sustainable growth.

The local bank said it teamed up with global asset management firm Franklin Templeton, which has more than $1.5 trillion in assets under management.

Meanwhile, the second product is the PNB US Equity Sustainability Leaders Feeder Fund, which allows clients to invest in US companies that have environmental, social and corporate governance (ESG) characteristics through its target fund, the Legg Mason ClearBridge US Equity Sustainability Leaders Fund.

“We understand the needs of some of our clients who have aggressive risk appetites or those who want to invest in global equities,” Mr. Veloso said.

He said investing in these global feeder funds will help individuals manage their money and expand their portfolios to include international assets.

The two new funds are available for a $1,000 minimum investment and can be tapped through the bank’s unit investment trust fund online platform, as well as in all PNB physical branches.

On June 15, the bank obtained approval from the Bangko Sentral ng Pilipinas (BSP) to launch the offshore funds.

Regulators have also allowed the Tan-led lender to offer a Personal Equity and Retirement Account product, an investment scheme authorized by Republic Act 9505 that encourages Filipinos to save up for their retirement.

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

Shares in PNB ended at P20.60 apiece on Wednesday, up by 60 centavos or by 3% from the previous day. — B.M. Laforga

A taste of buko pie may trigger a remembrance of road trips past

FOR many Filipinos, buko (young coconut) pie is the foundation of many road trip memories. Seeing that road trips have been suspended indefinitely due to the pandemic, perhaps a slice of pie will bring back memories of those trips?

While buying a pie from a roadside stand is not really possible these days, there is the option of getting one online. This is where  Platefuly comes in.

The brother and sister team of Luisito and Liliane Barcelon  dared to go into the pie business during the pandemic. Their brand, Platefuly, started in September last year by offering exactly six pie samples to friends and relatives. Since then, the Tagaytay-based pie operation has gone on to sell 30,000 pies.

“[Ever] since I can remember, our mom loved to experiment with recipes. When we all moved to South Korea, we would have many guests in our house and our mom would cook and bake new recipes all the time, whether Filipino or international cuisine,” said Mr. Barcelon in an e-mail to BusinessWorld. “Each year, our mom would bake pies for special occasions, but she was never really satisfied with the pie crust. Year after year, she would experiment more to improve her pie crust recipe. It was not until my parents was about to move to the Philippines to retire that she finally perfected her light, buttery, and flakey pie crust recipe.”

The pie crust recipe was developed initially for a Chicken Hand Pie (which this writer has tried: the crust itself had a great buttery taste and a nice crumble to it). The other pies came first, but the buko pie proved to be a bestseller.

Mr. Barcelon is going against many buko pies set in their ways, and settled into the minds of Southern Luzon tourists. He and his sister laid down their propositions for a superior pie: baked fresh daily, a creamy coconut filling, and a consistent taste whether served at room temperature or refrigerated.

They have since taken onboard a few workers who have had no prior experience in baking, most displaced by the pandemic. “Platefuly welcomes everyone in their team as long as they have the passion to create something new, have the willingness to learn, and love to be part of a positive team environment,” said Mr. Barcelon.

Mr. Barcelon discussed the challenges of opening a business during the pandemic —  which frankly, from his point of view, sounded a bit fun.

“Despite the pandemic, we thought there wouldn’t be a better chance for us to start Platefuly. Since everyone was working from home and we had the support of our parents, we planned to see how things would start before committing to the business full time,” he said. “We were careful though, only expanding depending on the demand for our product. But our focus was not so much in sales in the beginning, but making our mom happy when we hear that people are enjoying her recipe and that they would like to order again.”

He gave tips to other small businesses who plan to kick off during this challenging time. “What worked with Platefuly and what we can tell other people who are thinking of starting a business during the pandemic is to focus on what you are passionate about and transform that as your business.

“My mom is passionate about cooking and baking. My sister and I are passionate on spreading our mom’s recipe to as many people as we can. We want the recipe that our mom created to reach as far as possible and bring joy to as many people as possible. This has been the center of Platefuly, to bring joy to our customers through our mom’s recipe,” he said.

Buko pies (including variations like the Premium Ube Buko Pie and Premium Buko Pandan Pie) can be ordered through Facebook and Instagram (@Platefuly), or e-mail (platefuly@gmail.com). Their other products are Classic Chicken Hand Pies, Savory Chicken Hand Pies, and El Paso Hand Pies (available by the piece and box) and cheesecakes (blueberry, strawberry and mango) in both tins and jars

While, yes, they are based in Tagaytay, pickup points for the pies (priced starting P285) can be arranged at Festival Mall or South Super Market in Alabang, Robinsons Forum in Mandaluyong, or Robinsons Galleria. — J.L. Garcia

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