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Chinese banks boost short-term debt in sign of improved lending

CHINESE BANKS are rushing to raise short-term debt through negotiable certificates of deposit (NCD) traded in the interbank market, foreshadowing a boost in lending as the economy slows.

Commercial lenders have issued a net total of almost 831 billion yuan ($130 billion) of NCDs in November, the highest since February 2017, data compiled by Bloomberg shows. This could indicate banks are preparing to accelerate loans to customers after the People’s Bank of China encouraged lenders to step up credit support to the economy and relaxed some restrictions on property financing.

“Banks’ liabilities have been tight throughout this year, so they must increase liabilities first when they plan to grant more loans,” said Tan Songheng, a fixed-income manager at the Bank of Sanxiang Co. Ltd.

NCDs have become a major way for banks to replenish liquidity since they were first launched in 2013. It’s gained popularity this year because the coupon on one-year NCDs has generally remained below the interest rate on the one-year medium-term lending facility offered by the PBoC. 

Credit growth showed signs of stabilization in October after months of slowing. In its latest monetary policy report, the PBoC signaled stronger lending support in coming months by dropping the phrase that it would seek to “control the valve on money supply.” It also guided banks to keep mortgage lending and loans to developers steady to prevent the property downturn from worsening.

The PBoC has chosen to either fully or partially roll over maturing medium-term policy loans this year, while keeping interbank liquidity ample through flexible injections of short-term funding during its open-market operations. Despite the economic slowdown, many economists expect the PBoC to refrain from broad-based monetary easing and instead use structural tools to increase lending to sectors including green projects.

Banks are likely to continue issuing more NCDs as there’s a greater demand for liquidity to increase lending, according to Li Yong, an analyst at Soochow Securities Co. Ltd. Tan of Bank of Sanxiang expects new loans to pick up significantly in November and December from the same period last year. — Bloomberg

Ex-pro Roi Sumang joins Pingris, Simon in Nueva Ecija

THE Nueva Ecija Rice Vanguards have tapped former pro Roi Sumang to join an already stacked roster headed by former Philippine Basketball Association (PBA) stars Marc Pingris and PJ Simon in the Chooks-to-Go Maharlika Pilipinas Basketball League (MPBL) set Dec. 11-23 at the MOA Arena in Pasay City.

The 30-year-old Mr. Sumang last played for Blackwater in the Clark and Angeles bubble last year but was left without a squad since then that paved the way for the Mr. Giancarlo-tan coached Nueva Ecija to acquire him.

Messrs. Pingris and Simon have both come out of retirement to suit up for the Rice Vanguards.

Mr. Sumang will join a squad that also features former collegiate standouts Diego Dario, Will Gozum, Justin Gutang, Kendrix Belgica and Michael Mabulac among others.

Thanks to its recruiting coup, Nueva Ecija emerged as one of the early favorites to win the 13-day event that drew participation from 22 teams. — Joey Villar

Karl Lagerfeld’s fingerless gloves to go under hammer

MONACO —  Personal belongings of the late designer Karl Lagerfeld, including his trademark fingerless leather gloves and the cushions his cat Choupette sat on, are to go on sale in a series of auctions that begin in Monaco this week.

Mr. Lagerfeld, who died in 2019, was an icon of the fashion industry, celebrated as much for his distinctive personal style of gloves, sunglasses and ponytail as he was for the fashion he designed for Chanel and other houses.

The collection of belongings, being auctioned by Sotheby’s, has items from his personal wardrobe and the furniture, accessories and art which decorated his many homes.

Bids are also invited for a model of Choupette with an estimated price of 5,000 euros ($5,690) to 7,000 euros, and a figurine of Lagerfeld made out of PVC, metal and rhinestones, with a price estimate of 200-300 euros.

Elaborate trunks and suitcases that Mr. Lagerfeld took with him when he traveled, three Rolls-Royce cars and a pair of chrome-plated dumbbells owned by the famously body-conscious designer, are also included in the sale.

After Monaco on Dec. 3-5, the sale moves to Paris later in December, then on to Cologne early next year. —  Reuters

UK watchdog orders Facebook owner Meta to sell Giphy

LONDON — Facebook owner Meta has been told by the UK competition watchdog to sell popular animated images platform Giphy in Britain’s first such move against so-called Big Tech in its efforts to bolster regulation of the sector.

The Competition and Markets Authority (CMA) said it had found that last year’s acquisition of Giphy would reduce competition between social media platforms and in display advertising.

Facebook, which was recently rebranded as Meta Platforms, said it could appeal against the CMA’s decision. It has four weeks to appeal.

“The tie-up between Facebook and Giphy has already removed a potential challenger in the display advertising market,” said Stuart McIntosh, chair of the independent investigation on Facebook-Giphy for the CMA.

“By requiring Facebook to sell Giphy, we are protecting millions of social media users and promoting competition and innovation in digital advertising.”

Facebook said it disagreed with the decision.

“We are reviewing the decision and considering all options, including appeal,” a Meta spokesperson said in a statement.

The CMA in October fined the company a record $70 million for breaching an order imposed during its investigation into the acquisition, having said in August that it may need Facebook to sell Giphy.

COMPETITOR ACCESS
Facebook bought Giphy, a website for making and sharing animated images, or GIFs, for a reported $400 million in May 2020 to integrate the operation with its Instagram photo-sharing app. It has defended the deal to the CMA.

Another major provider of GIFs is Google’s Tenor.

The regulator, however, was concerned that Meta could deny competitors access to Giphy GIFs, or force the likes of TikTok, Twitter and Snapchat to provide more user data to use them.

It also said that innovative advertising services launched by Giphy in the United States before the deal could have been expanded to other markets such as Britain, where Meta controls nearly half of the 7 billion pound ($9.3 billion) display advertising market.

The CMA has been stepping up regulation of the Big Tech sector.

Last week, Alphabet, Inc.’s Google pledged more restrictions on its use of data from its Chrome browser to address CMA concerns about plans to ban third-party cookies that advertisers use to track consumers. — Reuters

Red Bull R1v1r Runes champion Nardosson to face Team OG’s N0tail in showmatch on Dec. 4

BERNARD “Nardoson” Ciocon (center) holds up his Red Bull R1v1r Runes trophy.

RED BULL R1v1r Runes has found its rightful ruler of the river, as the third season of the esports tournament has come to a thrilling conclusion. The best Dota 2 players in the country battled it out at the National Finals on Nov. 27.

Out of the top eight players competing, Bernard “Nardosson” Ciocon overcame all odds by advancing from the losers bracket of the qualifying rounds to the finals, conquering tournament favorite, Ihcoroy, in an intense final battle with a final score of 2-0.

With his victory, Nardosson will have the opportunity to face off against the team captain of one of the most dominant esports teams in Dota history, Johan “N0tail” Sundstein of Team OG.

N0tail is one of the most decorated players in the Dota world. Since becoming captain of Team OG, Mr. Sundstein has led his team to four Major Championships and made history as the only team to be crowned champion of The International in two consecutive years.

See, Nardosson represents the Filipino Dota community when he takes on Team OG captain, N0tail on Dec. 4 along with undercard matches featuring Lupon WXC and previous Red Bull R1v1r Runes winners, Charles Artacho and Zedrik Dizon, at 5:45 p.m. The match will be streamed live on the official Facebook page of Red Bull Gaming with viewers having a chance to win exclusive prizes from AOC and SteelSeries.

Stay tuned and follow Red Bull on Facebook and Instagram for more announcements regarding the upcoming exciting matchup between Nardosson and N0tail of Team OG.

Dining In/Out (12/02/21)

Salmon en Croute

Richmonde Hotel Ortigas has holiday take-home

FOR the holidays, Richmonde Hotel Ortigas is offering an assortment of creations by the hotel’s kitchen team headed by Executive Chef Tristan Galang. These Yuletide sweets, treats, and savory meals are good for gifting and indulging in at home during holiday lunches and dinners. Among the offerings are a platter of Salmon en Croute good for three to four persons (P2,680) which comes with potatoes au gratin and warm broccoli salad and is packed in a self-heating Hotbox; Canadian Bacon with sidings of oatmeal loaf and herbed butter, vacuum packed (P1,830) good for five persons; Bento Hotbox specials for individual meals with a choice between the Low and Slow Brisket (P1,150) and Pistachio-crusted Salmon and “Buro” Risotto (P1,250). For desserts there are baked goodies like Red Velvet Brownies (P180), Rum Cake made with Zabana Rum (P190), Sans Rival Cake (P180), Cruffin (P120), Cream Cheese & Chives Bun (P360 for four pieces), and Floss Roll (P280 for three pieces). Also available are Richmonde’s signature year-round hits: the Richmonde Ensaymada which comes in four variants (plain, ube, and the limited-edition holiday flavors of salted egg, and quezo de bola) and two sizes (the oversized regular and minis which come in boxes of four and nine pieces); the Richmonde Chocolate Cake; the Pistachio Cream Cheese Bread; Banana Walnut Bread; Cranberry Babka; and Salted Swirl. The hotel also has Christmas Crates of Happiness that contain an assortment of Richmonde’s freshly baked breads and homemade spreads packed in a wooden crate. There are two sizes to choose from: Santa’s Box of Cheer (P1,980) is big and brimming with six types of breads (Richmonde ensaymada, pretzel loaf, cranberry babka, salted swirl bread, pistachio cream cheese bread, and cruffin) plus 30 gm jars of mango & orange jam, bacon jam, and herbed butter; and The Holly Jolly Bundle (P1,380) contains pretzel bread, a baguette, and two mini ensaymadas, with the same three jars of jam and butter. All holiday goodies are available for pickup and delivery until Jan. 9, with advance orders and prepayment. Lead times vary per item and bulk orders may be arranged. For inquiries and orders, call 8638-7777 or 0917-534-4352 or e-mail sales@richmondeortigas.com.

Discovery Primea celebrates Christmas

DISCOVERY Primea welcomes the Yuletide season with a selection of gift recommendations, festive delicacies, and at-home celebrations. The hotel has come up with 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 Discovery Primea’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 an extensive collection of gourmet finds including assorted cold cuts and a bottle of premium red wine for P5,000 net. Order Primea’s signature cookies in cookie jars (P750 net), with more flavors to choose from this year: Chocolate Chip, World Peace, Oatmeal Raisin, Choco Peanut Butter, Classic Chocolate Crinkles, Salted Caramel and Milk Chocolate, and Chocolate Espresso. There is also a menu of Holiday Platters good for eight to 10 persons. The choices include traditional fare such as Cochinillo Asado, Lengua Sevillana, and Callos a la Madrileña. For families staying in on Christmas Eve and New Year’s Eve, the Primea At Home kits offer spreads good for four to five persons priced at P5,000 net. For Christmas Eve dinner, the Feliz Navidad kit showcases authentic Spanish fare such as Croquetas de Jamón y Pollo, Cochinillo Asado, and Paella de Marisco. On New Year’s Eve, there is a Media Noche feast of Italian dishes including Arancini di Mozzarella, Mini Rotola Pizzas, Riso al Forno, Grilled Black Bass, and more. The Christmas Hampers, Holiday Platters, and Primea At Home Kits are available this December.  Browse the hotel’s offers at bit.ly/TisTheSeasonAtPrimea. For orders and inquiries, call 7955-8888 or e-mail dp-sales@discovery.com.ph for bulk orders. For more information on the hotel’s offers and updates, visit discoveryprimea.com or follow Discovery Primea on Facebook and Instagram.

City of Dreams relaunches the Nobu Sunday Brunch

JUST in time for the holiday festivities, Nobu Manila at City of Dreams has relaunched its Sunday Brunch, each Sunday of the month with varying menu highlights from Dec. 5 to Jan. 2. Besides indoor dining, the restaurant has a tropical-themed patio and floating cabanas which make Nobu Manila the perfect al fresco venue for a leisurely Sunday brunch for families with children and seniors, regardless of vaccination status, in accordance with prevailing Alert 2 dining guidelines. Available for P2,950 net per person, the brunch’s action stations offer the day’s specialty menu with an extensive selection of appetizers, varied fare of kushiyaki or grilled skewered seafood, red meat, poultry and vegetables; a carving item which varies each week, from dry aged ribeye, kurobuta porchetta, salmon fillet new style, whole wagyu leg, to shichimi crusted ribeye. For variety, different rice and specialty dishes are offered weekly to complement the salads and soups. Diners choose their preferred dishes from the display counter, which chefs prepare fresh from the kitchen, and these are individually served on mini plates and lacquer cups or in a family style plating should guests prefer sharing. From an a la carte menu, diners can add to their meal. Their choice mocktail, chilled juice, soda, tea or coffee are included in the brunch price. Nobu Sunday Brunch is served from 11 a.m. to 3 p.m. For the rest of the week, Nobu Manila offers an a la carte, and eight-course signature Omakase menus for dinner from 5 to 10 p.m. from Sundays to Thursdays, and until 11 p.m. on Fridays and Saturdays. With the Safety Seal certification issued to City of Dreams Manila, the restaurant can seat maximum 60% capacity for indoor dining, and 80% for dining alfresco. Reservations are encouraged, through calling 8800-8080 or e-mailing guestservices@cod-manila.com. For more information, visit www.cityofdreamsmanila.com.

Crowne Plaza reopens buffet restaurant

CROWNE Plaza has opened its Seven Corners Restaurant Buffet for lunch and dinner, Wednesday to Sunday. The Lunch Buffet is open from 11:30 a.m. to 2 p.m. (P2,300 net per person) while the Dinner Buffet is open from 6:30 to 10 p.m. (P2,500 net per person). Make reservations through telephone at 8790-3100, Viber at 0927-163-0128, or e-mail at mnlcp.7corners@ihg.com.

Resorts World Manila celebrates with lechon

RESORTS World Manila’s (RWM) signature restaurants, Casa Buenas, Silogue, and Garden Wing Wing Cafe, are serving up a special menu with Lechon Baka, Spicy Cebu Lechon Pork Belly and Lechon Manok as centerpieces. The feast is served with corn on the cob, suman, and leche flan cake for P4,000 net, available for dine-in, take-out, or Delishvery until Dec. 31. For reservations, contact Casa Buenas (7908-8988, 0917-8788312), Silogue (7908-8880), and Garden Wing Cafe (7908-8889) or Delishvery (7908-8885 or 0917-878-8856). For more information on RWM’s Grand Fiesta Manila, visit www.rwmanila.com and follow @rwmanila and @newportmall on Facebook and Twitter, and @resortsworldmanila Instagram.

Brighten up holidays with Cravings

CRAVINGS can make Christmas luncheons and dinners extra memorable this season with its classic menu and fresh creations from the kitchen. One can order Cravings’ potluck dishes good for six to eight persons with a lot of selections to choose, from seafood to meat, as well as a charcuterie board. To start there is the Cravings’ Classic Caesar Salad or a Macaroni Salad. For the main course, there is Craving’s Roast Beef (slow cooked with mushroom sauce and truffle mashed potato), Lengua Con Champignon, Callos a la Madrilena, American Baked Spareribs, and Chicken Galantine. Cravings also offer two kinds of Roast Stuffed Chicken, one stuffed with paella rice, while the other has a stuffing of raisins and chorizo. Lastly, there is the Roast Pork Belly which can serve 12 to 15 persons. Pasta lovers can choose from Pasta Amatriciana, Truffle Mac & Cheese, or the crowd favorite Lasagna that is good for 12 to 15 persons. For seafood there is a choice of Prawns Ala Thermidor, Almond-Crusted Fish Fillet, Three Cheese Salmon, or Salmon Wellington. For something fancy, advance order Cravings’ special Charcuterie Board that includes cured meats, cheeses, and accompaniments such as fruits, nuts, and chocolates. There’s also an assortment of spreads one can order: Chicken Liver Pate, Boursin, or Truffle Goat’s Cheese Dip. Cravings also prepared a special Christmas Hamper that includes a pasta sauce, pasta, mango tomato salsa, and organic root chips. To make it convenient for families who wish to have a menu with a specific meal set, Cravings has the Christmas Set Menu that can serve four to six persons. For larger festivities, Cravings also assembled a ready-to-eat Christmas Party Box. There are five set menus suited to various tastes. There is a minimum order of 10 boxes, while discounts are available for bulk orders of 50 and above. For orders and inquiries, visit cravingsbakeshop.com or follow @cravingsphils on IG and @cravings.philippines on FB for more info.

Raintree Hospitality Group’s new bistro, Jones All Day

RAINTREE Hospitality Group recently launched a new bistro, Jones All Day. It’s an all-day dining space serving breakfast, brunch, lunch, snacks, and dinner options. It even has a raw bar with fresh oysters and seafood, a bakery, and an artisan retail store. Its signature dishes, including starters like Jones Burrata (locally made burrata with roasted pumpkin yogurt hummus, kale basil pesto, cherry tomatoes, pickled pimentos, and rocket), Pacific Oysters (Aklan oysters served on ice, Rock-a-fella with spinach and hollandaise, or Katsu Dynamite-style, which means oysters topped with Sriracha mayo, unagi sauce, and ikura), and the Jones Seafood Tower (a seafood tower made of shrimp cocktail, pacific oysters, blue mussels, salmon and tuna sashimi, Coctel de Mariscos, spicy tuna dynamite, pickles, horseradish, aguacate, marinated seaweed, fresh lemon and lime, chips, wonton crackers, and nori sheets). Other dishes include Jones Vegan Bowl (a totally vegan dish made of plant-based kofta, broccoli, cauliflower, kale, basil, cilantro, cabbage, carrots, onions, crispy garbanzos, plant-based Caesar dressing, and passion fruit and herb vinaigrette), Smoked Pepper Turkey Reuben (with house-made purple kraut, remoulade, and pickles, topped with Emmental cheese, mozzarella all between sesame rye and served with whole-grain mustard on the side), Jones Beef Tapa (char-grilled US top blade beef with tapa sauce topped with crispy garlic chili, served with garlic rice, two eggs the way you want them, and cucumber atchara, grilled tomatoes, and vinegar dip on the side), House-Made Handkerchief Pasta (with guanciale, butter, organic egg yolks, and finished with Malagos pecorino), or Truffled Mushroom Roast Chicken (half-chicken stuffed with mushroom tapenade served with light chicken jus and creamy mashed potatoes, haricots verts, and shiitake on the side). The new all-day bistro and bakery will feature a retail space called the Jonesery to sell locally made and sourced artisanal goods from small and medium Filipino enterprises. Jones All Day Bistro & Bakery is located at the ground floor of Serendra Piazza, Bonifacio High Street, Bonifacio Global City, Taguig. It is open from 7 a.m. to 10 p.m. daily. For updates, like and follow @JonesAllDayPH on Facebook and Instagram.

Pinoy Christmas dishes transformed into macarons

CLASSIC Christmas Filipino dishes have been recreated into decadent macarons for the holiday collection of Jane Dough Desserts. Dubbed as “Home for Christmas,” the series features flavors such as Bibingka Special, Sans Rival, Ultimate Champorado, Ube Puto Bumbong, Spiced Chocolate, and Dessert Kare-kare. Pastry chef Allyza Cepeda, a Culinary Arts alumna from the De La Salle-College of Saint Benilde, is behind Jane Dough Dessert. The selection features a fusion of sweet, salty and savory. The Ultimate Champorado is a crispy pinipig (rice crispies), milk powder, and golden dilis (anchovies) sandwiches with cocoa and rice ganache filling. The Dessert Kare-Kare is clash of homemade peanut butter, toasted rice ganache, and bagoong alamang (shrimp paste). Her take on Bibingka Special and Ube Puto Bumbong are both covered with toasted coconut. Bibingka Special has salted egg and cheese amid the coconut-rice ganache spread while the Ube Puto Bumbong comes with ube (purple yam) and pirurutong rice ganache made from the traditional purple rice from Ifugao. The Sans Rival macaron is a serving of cashew-covered shells with rich French buttercream, while Spiced Chocolate comes with 64% Auro dark chocolate ganache infused with cinnamon and cayenne. Visit Jane Dough Desserts on Facebook (https://www.facebook.com/findjanedough) and Instagram (https://www.instagram.com/findjanedough/?hl=en).

M Bakery offers limited-edition holiday treats

It’s beginning to look a lot like Christmas at M Bakery. Inspired by the Christmas spirit, M Bakery now offers Christmas products and gift packages at both its BGC and Rockwell locations starting Dec. 1. M Bakery favorites get holiday treatments this month, including the Banana Pudding whose flavor of the month is Red Velvet. There is also a special Holiday Cupcake, the Chocolate Peppermint Cupcake, made of moist chocolate cupcake iced with red and white peppermint meringue buttercream and topped with crushed peppermint candies. There are boxes of six or a dozen of M Bakery’s Christmas Cupcakes, each box filled with vanilla and chocolate cupcakes with vanilla and chocolate buttercream and topped with festive Christmas decorations. M Bakery also has a Christmas party spread: the World-Famous Banana Pudding Party Bowl, which is made with layers of vanilla wafers, fresh bananas, and creamy pudding. It is available in Classic, Chocolate, Chocolate Hazelnut, Red Velvet, and other flavors. Party bowls come in two sizes: Small (for eight people) for P2,200 and Large (serves 20) for P3,250. There is also a set of Christmas cakes offered in either classic vanilla or chocolate cake as the base: the Bottle Brush Tree Cake, Christmas Cake (Lights & Gifts), Snowman Cake, and Winter Cake. There is also the Holiday Red Velvet Cake, and the Yule Log Cake. M Bakery’s other specialty cakes are also available for advance orders. Some of its best-selling cakes include the Manila-exclusive ube cake, carrot cake, hummingbird cake, lemon raspberry, strawberry, banana chocolate hazelnut and chocolate ganache. M Bakery also has a set of holiday gift boxes: the Chocolate Chunk Cookie Favor Box with six classic chocolate chunk cookies; the Cutout Sugar Cookie Favor Box, which includes six classic sugar cookies in a variety of seasonal shapes; the Holiday Cookie Sampler, an assortment of M Bakery’s bestselling cookies; the Baker’s Choice Cookie Assortment, an assortment of M Bakery’s classic cookies that includes 12 pieces each of its chocolate chunk cookies and oatmeal raisin cookies; ‘Tis the Season, a tray that includes 12 pieces each of jammy thumbprints, snickerdoodles, cutout sugar cookies, gingersnaps, and holiday confetti cookies; a Brownie and Blondie Flavor Box with two pieces each of brownies and blondies; Baker’s Choice Bar Assortment, an assortment of four pieces each of double fudge brownies, chocolate chunk brownies, and magic cookie bars; Home for the Holidays with six jammy thumbprints, six snowballs, and six chocolate crinkles; and, Care Package which includes six pieces each of chocolate chunk blondies, double fudge brownies, and chocolate chunk cookies. There are also M Bakery Gift certificates available in P500 and P1,000 denominations. To learn more about M Bakery’s Christmas products and treats, follow M Bakery on Facebook or Instagram.

Cheesecake for a white Christmas

A 16-YEAR-OLD baker has come up with a special holiday treat: the limited edition Snowy Yule Cheesecake from Regi’s Cheesecake. A smooth and velvety confection that has the classic cheesecake sandwiched between a graham crust and a covering of white chocolate, the Snowy Yule Cheesecake is topped with vanilla and white chocolate flavored frosting. It features a smiling snowman design. The Snowy Yule Cheesecake is the latest flavor to be introduced by Regi’s Cheesecake, a home-based baking business that grew from Regi Depante’s adventures in the kitchen. Among the many cheesecake variants are Heavenly Blueberry Cheesecake, Cheesecake Potpourri, and Sugar-Free Delicioso Burnt Cheesecake. To order a Snowy Yule Cheesecake and to see the rest of the Regi’s Cheesecake menu, visit their Instagram and Facebook page @regischeesecake.

Shake Shack’s holiday favorite makes a comeback

SHAKE Shack has brought back its holiday favorites, the Truffle Trio, headlined by the Black Truffle Burger (P325), made of 100% all-natural beef with Swiss cheese, crispy ale-marinated shallots, black truffle mayo and arugula. The other two are the Black Truffle Chick’n (P300) which is a crispy chicken breast with black truffle mayo, pickled shallots and arugula, and the Black Truffle Fries (P205), crinkle-cut fries topped with black truffle mayo, crispy-ale marinated shallots and scallions. Available for a limited time only.

Dairy Queen launches Christmas-inspired Blizzard of the Month

THIS holiday season, Dairy Queen is offering three premium Blizzard creations inspired by some of the most popular sweets in the world. First is the Royal New York Cheesecake Blizzard Treat, made with chunky pieces of cheesecake blended with creamy soft serve and then filled with strawberry topping in the center. Then there is the Royal Ultimate Choco Brownie Blizzard Treat, made with bite-sized chewy brownie pieces, chocolate chunks, and cocoa fudge blended with creamy soft serve, and then filled in the center with fudge topping. The third is the Royal Oreo Blizzard Treat, made with Oreo cookie pieces blended with creamy soft serve and then filled with a fudge topping center. These Christmas-inspired Blizzard Treats are priced at P109 for Regular, P129 for Medium, and P159 for large, and are available until Jan. 10. Visiting a nearby branch or order through the 8911-1111 hotline, www.dairyqueen.com.ph, or official delivery partners GrabFood, foodpanda, and Pickaroo.

McDonald’s Christmas offers

MCDONALD’S Philippines celebrates the holidays with a light show, traveling Santas, and meals to share. McDonald’s is holding the Ride-Thru Christmas Light Show until Jan. 2 at three of McDonald’s Drive-Thru stores: the Icy Wonderland Ride-Thru at McDonald’s McKinley West in Taguig, the Happyland Ride-Thru in McDonald’s Alabang West in Las Piñas; and the Parol Holiday Ride-Thru at McDonald’s Savano Park in Bulacan. Customers will be able to grab a bite of their McDonald’s favorites while enjoying this unique light spectacle from the safety and convenience of their own rides. For customers who prefer to celebrate the holiday festivities from home, McDonald’s brings the light to them with the help of McDelivery Santa Riders. Christmas isn’t complete if happiness is not shared with those who need it most. Through the McDonald’s Kindness Kitchen, McDonald’s commits to sharing a festive meal with nearly 7,000 chosen beneficiaries, while all its stores combined will donate 1 million Happy Meal books and toys to school beneficiaries. In addition, 12 days before Christmas, McDonald’s will also launch its Share-A-Meal program, giving customers a chance to give back by sending McDonald’s meals to their charity of choice with no purchase requirement. All a customer needs to do is visit a McDonald’s store and fill out a Share-A-Meal card as McDonald’s will grant over 1,000 wishes and share over 18,000 meals come Dec. 25.   

Jollibee’s Spicy Champ now in more stores

JOLLIBEE’S new Spicy Champ, which was initially only offered in stores in Metro Manila and Luzon, is now available in more stores nationwide. Jollibee Spicy Champ is the classic big burger with a 1/3-pound patty that’s made with 100% pure beef, with a new kick of sriracha mayo dressing and jalapeno slices. It is also available in a Spicy Champ Jr. Variant. The Spicy Champ costs P175 solo and the Spicy Champ Jr. is P79 solo. The list of participating stores offering Spicy Champ can be found here: https://www.jollibee.com.ph/spicy-champ/.

Nutella offers new snack

BEST known for its hazelnut spread, Nutella has come out with a new snack, the Nutella B-ready. Shaped like a mini baguette, Nutella B-ready is filled with Nutella spread and a sprinkling of puffed wheat crispies. Nutella B-ready is now widely available in supermarkets and grocery stores in the Philippines.

Sekaya gift packs for the holidays out

SHARE the gift of health this season, and contribute to the ongoing reforestation efforts in the Cordillera. The new Prescribing Nature Gift Packs from Filipino plant-based brand Sekaya are carefully put together to help with different health and wellness goals. Every purchase also contributes to ongoing reforestation efforts in the Cordillera region — Sekaya’s advocacy in partnership with the Cordillera Conservation Trust (CCT). With the help of everyone who bought the Prescribing Nature Gift Packs during the last quarter of 2020, Sekaya was able to provide 5,190 endemic tree seedlings, which are already adapted to the region and will support local ecosystems better than non-native species. Sekaya is once again committing to match the sales of its gift packs and donate to the same cause this year. Interested parties can choose from Prescribing Nature Gift Packs’ six gift boxes. For orders, check out @sekayaph on Facebook and Instagram or the official Synnovate Pharma Corp. stores in Lazada and Shopee, or send an SMS or Viber to 0917-5SEKAYA (735292).

Nespresso’s newest special reserve coffee from Jamaica

NESPRESSO’S newest coffee is Special Reserve Jamaica Blue Mountain. Named after the steep slopes and volcanic soils of the Jamaican summit wherein beans are stored in handmade wood barrels, Nespresso’s newest coffee highlights exotic woody notes and a pleasant spicy aftertaste with hints of pepper, cinnamon, and nutmeg — a profile found only in the area’s crop. The Special Reserve Jamaica Blue Mountain is made from pure Arabica beans. With an intensity level of seven, the coffee is best served as an espresso. For a creamier option, just add milk. The Jamaica Blue Mountain is among the many Special Reserve coffee flavors that the brand has launched. It is available for a limited time in local Nespresso boutiques, pop-up stores, and online at www.nespresso.ph.

Google to ban political ads for 2022 PHL elections

GOOGLE LLC said on Wednesday that it will not accept election advertisements in the Philippines during the campaign and silence periods.

The company intends to focus on initiatives aimed at helping citizens access “useful and accurate information,” Google said.

The company also aims to “help protect the integrity of the elections,” it said in an e-mailed statement to reporters.

According to the Commission on Elections (Comelec), the official campaign period for national positions runs from Feb. 8, 2022 to May 7, 2022. Election day is May 9, 2022.

Google’s policy will cover election advertisements purchased through Google Ads, Display and Video 360, and Shopping platforms for placement on Google, YouTube, and partner properties.

“This includes advertisements that promote or oppose any political party or the candidacy of any person or party for public office.”

Google said it has product features and literacy programs that can help voters gain access to useful information.

The company began supporting Philippine elections earlier this year through voter registration campaigns.

It launched the English-Cebuano #YOUTHink magazine last year to help combat misinformation. — Arjay L. Balinbin

Berong mine to undergo six-year rehabilitation

BERONG Nickel Corp. (BNC) has allocated P110 million for the six-year rehabilitation of a nickel mine in Quezon, Palawan that is expected to be fully depleted by end-2021.

“Most of the budget will be used to stabilize the mined out area through benching, drainage construction and planting of endemic and indigenous trees,” said DMCI Holdings, Inc., the parent firm of DMCI Mining Corp., in a disclosure to the stock exchange on Wednesday.

DMCI Mining has majority interest in the company behind the Berong mine, which will be decommissioned.

“Our end goal is to restore and enhance the mined land so its economic and ecological value is similar to, if not better than, when we started operations in the area,” DMCI Mining President Tulsi Das C. Reyes said in the disclosure.

BNC’s rehabilitation will cover 109 hectares of surface mine, 209 hectares of silt control structures, and 25 hectares of stockpile area. 

DMCI Holdings said the rehabilitated areas can soon after be used by the Department of Environment and Natural Resources, local government units, and host communities for eco-tourism, agro-forestry, and inland fish farming activities.

It added that about 14 hectares of mine access road will also be rehabilitated and will afterwards be turned over to the community in Quezon town for its use.

The rehabilitation process, the company said, is expected to generate about 135 jobs.

The Berong mine started operations in October 2006 and has yielded P10.3-million wet metric tons of nickel ore and has generated mining duties, royalties and taxes amounting to P2.6 billion.

The mine also generated 1,634 direct and indirect jobs.

Shares in DMCI Holdings at the stock exchange declined by 1.84% or 15 centavos to close at P7.99 apiece on Wednesday. — Bianca Angelica D. Añago

PDIC to dispose of lenders’ properties

THE PHILIPPINE Deposit Insurance Corp. (PDIC) plans to dispose of 807 real properties and resolve 17,826 loan accounts of closed banks.

PDIC President and Chief Executive Officer Roberto B. Tan said the state deposit insurer plans to reduce its non-cash portfolio this year by using its electronic bidding process for properties.

“The proceeds from the disposal of the PDIC’s non-cash assets are added to the funds held in trust for closed banks to help increase the chances of closed-bank creditors and uninsured depositors to recover their funds,” the Department of Finance (DoF) said in a statement on Wednesday.

“Creditors’ claims are settled by PDIC as liquidator, in accordance with the rules on concurrence and preference of credits.”

PDIC has disposed of 2,917 real properties since 2019, 507 of which were sold by June this year.

Mr. Tan said that the deposit insurance fund, the capital and funding source for deposit insurance payments, stood at P234.84 billion as of July, increasing by 15% year on year.

The agency’s total assets went up by 3.6% to P302.84 billion in July, which was driven by assessment collections and income on investments.

Meanwhile, liabilities dropped by 22.8% to P68 billion.

“PDIC paid P470 million in insured deposits from four banks ordered closed by the Monetary Board (MB) from January to July 2021,” the statement said.

“The MB shut down Occidental Mindoro Rural Bank, Palm Tree Bank in Cagayan de Oro City, Rural Bank of Alimodian in Iloilo, and the Rural Bank of Caloocan.”

PDIC plans to settle claims on two more closed banks, the Rural Bank of Datu Paglas in Maguindanao and the Grand Agri Rural Bank in Lucena City, Quezon.

PDIC is an attached agency of the DoF. — Jenina P. Ibañez

How PSEi member stocks performed — December 1, 2021

Here’s a quick glance at how PSEi stocks fared on Wednesday, December 1, 2021.


National government outstanding debt

THE NATIONAL Government’s outstanding debt swelled to P11.97 trillion as of the end of October as it offered more domestic securities, preliminary data from the Bureau of the Treasury (BTr) showed. Read the full story.

National government outstanding debt

Manufacturing Purchasing Managers’ Index of select ASEAN economies, Nov. 2021

PHILIPPINE MANUFACTURING activity rose to an eight-month high in November, as new orders increased for the first time since March, IHS Markit said on Wednesday. Read the full story.

Manufacturing Purchasing Managers’ Index of Select ASEAN Economies, Nov. 2021

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