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Samsung launches Galaxy A16 series phones in PHL

SAMSUNG ELECTRONICS on Wednesday launched in the Philippines its latest entry-level Galaxy smartphones, the Galaxy A16 5G and LTE.

“These new, affordable smartphones bring stunning improvements to the A series lineup, combining immersive visuals, sleek designs, and secure, reliable experiences; elevating everyday experiences for its users,” Samsung said in a statement.

The Galaxy A16 5G is priced at P13,990 and is now available at selected retailers nationwide. Meanwhile, the LTE model costs P9,900 and will be on sale starting Dec. 4.

The 5G variant comes in Blue Black and Gold, while the LTE model is available in Black, Grey, and an online exclusive color, Light Green.

“Galaxy A16 5G and LTE adopt Samsung’s signature Galaxy design language, featuring refined, rounded corners and a linear camera lens layout,” the brand said.

The Galaxy A16 sports a 6.7-inch FHD+ Super AMOLED display, which Samsung said is an upgrade to the 6.5-inch screen on the A15 series.

“The Super AMOLED display provides scenes with true-to-life colors and sharp clarity, making the display ideal for watching videos, gaming, or browsing content,” it said.

“The Galaxy A16 series also introduces an improved, sleeker design, with a thinner body measuring just 7.9mm — down from 8.4mm in last year’s A15 series. The streamlined bezels further emphasize the 6.7-inch FHD+ Super AMOLED display, helping users better immerse in content and gameplay while enhancing the overall screen size and visual experience,” it added. “In addition, the key island design provides a sleek look and feel, which contributes to an easy and intuitive grip on the Galaxy A16, making the device more comfortable to hold for daily use.”

The phone has a triple lens rear camera setup with a 50-megapixel (MP) main sensor, a 5-MP ultra-wide lens, and a 2-MP macro lens. It also has a 13-MP front camera.

It has an octa-core processor and a 5000mAh battery that supports 25W fast charging.

Both 5G and LTE models of the device are IP54-rated for dust and water resistance.

The A16 series smartphones will receive six generations of One UI and Android OS updates and six years of Samsung Security Maintenance Releases.

“Samsung Knox Vault is also integrated into the Galaxy A16 series, providing high-level security to protect private, personal data such as user passwords and secrets from hardware-based attacks including voltage glitches, temperature tampering, and laser interference,” the brand said. — BVR

Filinvest Q3 net income jumps to P3.91 billion

ONE FILINVEST IN ORTIGAS AVENUE — FILINVEST.COM

GOTIANUN-LED conglomerate Filinvest Development Corp. (FDC) saw its attributable net income for the third quarter climb by 96.5% to P3.91 billion, led by growth across its business segments.

The conglomerate’s revenues increased by 35.7% to P27.04 billion from P19.93 billion a year ago, its financial statement showed.

Costs and expenses climbed by 38.4% to P25.08 billion from last year’s P18.12 billion.

From January to September, the company’s attributable net income jumped by 59% to P9.45 billion from P5.93 billion previously.

“The net income in the first nine months of 2024 was at a record high for comparative periods,” FDC President and Chief Executive Officer Rhoda A. Huang said.

“The strong performance was across the Group’s business segments and we look forward to sustaining this growth trajectory for the balance of the year,” she added.

Total revenues and other income during the period rose by 34.4% to P86.84 billion from the previous year’s P64.6 billion.

For the banking business, EastWest Bank reported a 29% increase to P38.2 billion, driven by the 17% increase in consumer loans leading to higher net interest income.

“Consumer lending remained the bank’s core product, accounting for 83% of the total loan book. This helped push net interest margin to 8.1% versus the 7.7% recorded in the same period in 2023. Meanwhile, noninterest income grew by 39%, in line with banking transaction growth,” the company said.

For the power business, FDC Utilities, Inc.’s revenues improved by 66% to P18.7 billion, buoyed by higher energy sales from its fully contracted 405-megawatt plant in Misamis Oriental.

“The significant rise in power generation and sales was made possible by the Mindanao-Visayas interconnection project that boosted demand,” FDC said.

For the real estate business, Filinvest Land, Inc. (FLI), Filinvest Alabang, Inc., and Filinvest REIT Corp. contributed P21.8 billion to total revenues, higher by 27% from last year.

Filinvest Hospitality Corp., the conglomerate’s hotel business, reported a 39% increase in revenues to P2.9 billion.

On Wednesday, FDC shares were unchanged at P5.40 apiece. FLI shares were unchanged at P0.80 per share. EastWest shares climbed by 0.81% to P9.80 each. — Sheldeen Joy Talavera

New Zealand whiskey is an adventurous new frontier in spirits

By Brad Japhe

NESTLED humbly among the sprawling serrated earth of New Zealand’s Crown Range, an hour’s drive north of Queenstown, a cozy stone-walled distillery quietly pumps columns of steam toward the sky. Speckled white dots of sheep grazing on hills along the horizon are the only other obvious signs of life. It would be easy to confuse the scene with something straight out of the Scottish Highlands — especially with the smell of freshly fermented cereal grain piercing the crisp mountain air.

But then a whirring hum enters the sharp valley, intensifying for several seconds as a helicopter reveals itself over the ridge line. This is a markedly South Island sort of noise pollution, which dissipates back to quietude as it delivers its cargo of four well-heeled whiskey seekers to the rose garden of Cardrona Distillery. They’ve come like I have on this Tuesday in February, to sample the barrel-aged bounty of a modern New Zealand whiskey renaissance that promises to reverberate across the globe into the new year.

The distillery’s founder, Desiree Reid, is playing an outsize role in the effort to establish New Zealand among the ranks of Japan, Taiwan, Australia, and India with top-shelf new-world whiskey exports. She began laying down liquid at Cardrona in November 2015 — then a fairly audacious act considering the failed attempts of those that set sail before. Hers would be the first whiskey to roll off a South Island still since the Willowbank Distillery in Dunedin unceremoniously shuttered in 1997 from lack of interest, a mere 28 years after initially roaring to life.

Today she is joined by about two dozen colleagues, most of them considered micro-distilleries by international standards. The output of Cardrona — one of the bigger whiskey makers in the South Island — totals about 250,000 liters per year, compared with 21 million for Glenlivet Scotch.

And though almost all these nascent producers are specializing in single malt, there’s not yet a singular stylistic thread connecting them. “We’re too young as an industry to do that to ourselves. I think that would be damaging,” says Sarah Elsom, head distiller at Cardrona. “It’s really important that we work together to build a reputation of quality, first and foremost, so that we’re taken seriously on a global level. There are nuances to every distillery that we should explore before we put ourselves in a position where we say, ‘New Zealand whiskey has to taste a certain way.’”

A country comprising such a broad range of terrain stuffed into a relatively small landmass indeed lends itself to a vast array of whiskey profiles. Couple this diversity with the adventurous nature of the common Kiwi, and you’ve got a category that’s ripe for experimentation.

“Over the past decade, whiskeys here have been shaped by the microclimates in which they are founded and the people who have founded those distilleries,” says Ms. Reid, who deliberately set her operation in a place with profound seasonal variation. “For us, our extreme landscape forces interplay between the spirit and the oak. Sitting at 2,000 feet above sea level, our maturing stock is exposed to nearly a 100° [Fahrenheit] swing in temperature from summer to winter.”

For instance, a dram of the five-year-old Growing Wings ($134), a sturdy 63.9% alcohol by volume (ABV) cask strength offering, coats the tongue with a candied pecan richness you wouldn’t typically expect from a similarly aged whiskey matured in ex-bourbon or ex-sherry casks. There’s also a dank, umami note setting apart its aromatics, perhaps owing to the malt, which Cardrona now sources entirely from a neighboring region of the South Island. The inspiration may be Scotch, but the provenance clearly shines through.

Up on the more populous North Island, where the lion’s share of the country’s 26 producers exist in more temperate, or even subtropical, weather, Thomson Whisky takes its sense of place a step further with a Manuka Smoke single malt (NZ$135, roughly $81). The 92-proof spirit is built with barley that’s been malted using the nation’s most famous flowering plant, which provides bees with the raw material to make the world’s most expensive honey. It results in an unctuous liquid, offering cigar and cedar in the nose, while maintaining a honey and clove lightness in color and tone. An Islay-inspired peat monster this is not.

An hour south, just on the other side of Auckland, the seven-year-old Pokeno distillery has been building a following with its own experimental approach to malt-making. Its Exploration Series No. 1 Totara cask ($150) is the first whiskey to be matured in the eponymous wood indigenous to New Zealand’s lowland forests. It exudes a tropical bouquet and deploys a slightly astringent stone fruit essence across the mid-palate. The brand was the only New Zealand distillery to take home coveted Double Gold prizes (for No. 2 Winter Malt and No. 3 Triple Distilled in the series) at this year’s San Francisco World Spirits Competition.

Taking a page from Australian producers, Kiwi whiskey startups are naturally also seeking synergy with the country’s already established wine market. Scapegrace, which recently opened a NZ$25-million distillery and visitors center with help from the government in a different mountain valley near Cardrona, has earned critical acclaim for its Ephemeral (NZ$199), a five-year-old expression finished in a former pinot noir barrel from the lauded local vintage.

“Based on the location of our distillery in Central Otago, there is an abundance of wineries recognized on the global stage,” says Mark Neal, director of marketing for Scapegrace. “We have really embraced this opportunity and have started to play around with ex-pinot noir casks, understanding the influence of our new make over time.”

The Ephemeral cask-strength release unfurls fresh clusters of berry fruit atop a waxy texture, balancing out the oaky tannins of its spicy nose. Only several hundred bottles’ worth of the limited release ever made it beyond New Zealand borders.

Cardrona, on the other hand, didn’t even have enough of its own Otago Pinot Cask to officially go international — a real loss for global connoisseurs considering that this sophisticated spirit, brimming with stewed plum and milled pepper, was the result of a collaboration with Felton Road, one of the country’s top-rated wineries. (Although you can find it for over $400 on the secondary market.)

Given there’s no singular style of production or maturation or associated ingredients that can claim authority over the rest, what exactly is New Zealand whiskey?

Distilled Spirits Aotearoa, the trade association representing New Zealand’s whiskey producers, put forth a set of self-imposed labeling guidelines in early 2021 that largely mimic those in Scotland and Ireland, with one key difference: that spirit may age for a minimum of only two years as opposed to three for its old-world counterparts. Beyond that, New Zealand whiskey makers are quick to maintain their freedom to experiment. Or, perhaps more accurately, they’re reluctant to pigeonhole themselves to any singular approach.

“Native manuka wood smoke maltings and pinot noir cask maturations are obvious examples” of an attempt at crafting a local identity, says Siona Collier, managing director of Whisky Galore in Christchurch, one of the country’s largest whiskey shops. “But the New Zealand whiskey industry is very much in the embryonic stages, and with this in mind, you will understand that the parameters of style are very wide.”

New Zealand whiskeys can instead be loosely defined in a manner similar to those who craft them — and those who fly by helicopter through mountain ranges to sip them — namely, adventurous spirits.

“Innovation and creativity are at the forefront of what most of the distilleries are doing down here,” Ms. Collier says, “in true New Zealand pioneering fashion.” — Bloomberg

PBCom net income surges in Q3

BW FILE PHOTO

PHILIPPINE BANK of Communications (PBCom) saw its net income jump by 128.96% year on year in the third quarter on the back of higher revenues.

The bank’s net income stood at P821.2 million in the three months ended September, rising from P358.66 million in the same period last year, its financial statement disclosed to the stock exchange on Wednesday showed.

This brought its nine-month net profit to P1.85 billion, up by 36.02% from P1.36 billion a year ago.

The lender’s end-September performance translated to a return on average equity of 13.27% and a return on average asset of 1.61%, up from last year’s 11.22% and 1.36%, respectively.

PBCom’s net interest income rose by 14.53% to P1.34 billion in the third quarter from P1.17 billion in the same period last year as the bank continued to benefit from the high interest rate environment.

Interest income went up by 17.22% to P2.45 billion from P2.09 billion, driven mainly by higher interest earnings from loans and receivables, while interest expenses were at P1.11 billion in the third quarter, rising from P922.66 million a year prior.

Net interest margin stood at 3.92% at end-September, lower than 3.98% at end-2023.

The bank’s total operating income surged by 50.71% to P2.11 billion in the third quarter from P1.4 billion a year ago as it booked higher trading gains and income from service charges, fees and commissions, among others.

Meanwhile, PBCom’s operating expenses increased by 24.25% to P1.11 billion from P893.39 million amid higher volume-driven costs.

The bank’s total loans stood at P92.33 billion in the first nine months, up by 0.61% from P91.77 billion at end-2023.

“The bank’s gross NPL (nonperforming loan) ratio was at 3.38%, 61 basis points higher than the 2.77% ratio at the end of 2023,” PBCom said.

On the funding side, total deposits went up by 3.31% to P120.56 billion as of September from P116.7 billion at end-2023.

“This resulted mostly from P5-billion increase in bills payable and P3.9-billion increase in deposit liabilities, mainly from higher time deposits, partially offset by maturity of the bank’s LTNCD (long-term negotiable certificates of deposit) in the second quarter and lower savings and demand deposits,” PBCom said.

The bank’s assets grew to P158.39 billion as of September from P147.48 billion at end-2023.

Total equity likewise increased to P19.53 billion from P17.66 billion.

PBCom’s capital adequacy ratio was at 17.07% at end-September, inching down from 17.17% in the same period last year.

Its liquidity ratio was at 26.77% in the first nine months, up from 19.69% at end-2023.

PBCom shares closed unchanged at P16.30 apiece on Wednesday. — A.M.C. Sy

Filipinos among top downloaders of Chinese apps globally, study shows

PHILIPPINE STAR/MIGUEL DE GUZMAN

PHILIPPINE USERS had the second highest share of downloads of Chinese mobile applications globally this year, according to a joint study by measurement and analytics company Adjust and Sensor Tower.

The Philippines’ install share of Chinese-developed apps stood at 21%, the report titled “Chinese Export Apps” showed. The study covered app downloads from January to September 2024.

“According to the study, Southeast Asia (SEA) countries lead globally in the install share of Chinese apps, with Indonesia (22%), the Philippines (21%), Malaysia, Thailand (both 19%), Vietnam, and Singapore (both 18%) ranking among the top markets for Chinese app installs,” Adjust said in a statement.

“The rapid rise of Chinese apps worldwide underscores their influence in reshaping digital user experiences through gamification, artificial intelligence (AI), and personalization,” April Tayson, regional vice-president for INSEAU at Adjust, said. “Looking at how these apps have deeply integrated into our daily lives, Chinese apps’ momentum shows no signs of slowing down.”

By application type, the Philippines and Indonesia recorded the second highest install share of Chinese gaming apps at 19%, only behind South Korea’s 21%.

For Chinese social apps, Malaysia had the highest install share at 80%, followed by Indonesia (65%), Vietnam (64%), and the Philippines (53%).

On the other hand, the Philippines also recorded a 25% install share for Chinese utility apps, 15% for entertainment apps, and 11% for finance apps.

“Finance app installs surged in Indonesia by 125% year on year, followed by Vietnam (73%) and the Philippines (46%). Shopping apps in the Philippines saw a 198% rise, creating a key opportunity for Chinese e-commerce apps to localize and target this growing market,” the report said.

“Gaming apps also grew, most sharply in the Philippines (107%). Social apps saw steady growth in Vietnam (61%), while utility apps experienced strong growth across Vietnam (56%), the Philippines (43%), and Indonesia (30%),” it added.

Meanwhile, Chinese-developed entertainment apps in the Philippines had a 156% session growth — or how frequently users interact with an app — year on year.

“Finance sessions were up 110% in Indonesia, 87% in Vietnam, and 30% in the Philippines, mirroring their install growth. Shopping apps in the Philippines saw a 125% session increase, aligning with its 198% install rise, while Vietnam’s session decline matched its drop in installs,” it added.

Chinese apps specializing in AI and short dramas have led the Chinese tech export boom, the report said.

“By blending the viral appeal of short-form content with the serialized nature of traditional dramas, Chinese short drama apps have quickly become a global entertainment phenomenon. These apps, featuring high-drama narratives often centered on romance and fantasy, have captivated international audiences after initial success in China. Over 40 Chinese short drama apps have amassed more than 55 million global downloads and generated $170 million in in-app purchases,” it said.

“SEA markets including Indonesia, Vietnam, and the Philippines have shown strong user engagement, fueled by the region’s affinity for mobile-first entertainment platforms alongside rising smartphone penetration,” it added.

Chinese short drama apps are projected to have user bases of 200 million to 300 million globally, it said.

“To share in this growth, app developers must continue creating compelling content, leveraging viral marketing, and offering flexible, user-friendly revenue models. Investment in AI-driven personalization and forming strategic partnerships will also be key to enhancing user engagement and retention across regions,” it said.

The report attributed the global growth of the Chinese app market to developers’ focus on the international market, as seen in the success of TikTok, Shein, and Temu.

“Chinese apps topping the charts across regions reflect their adaptability and success in understanding local markets while scaling globally. By tailoring experiences to diverse audiences across Southeast Asia, North America, and EMEA, Chinese developers have turned challenges into opportunities. Their strategic expansion into innovative app verticals showcases their capacity to lead the next wave of digital transformation,” said Nan Lu, senior director of APAC marketing at Sensor Tower.

“Chinese apps are thriving in 2024, pushing boundaries and cementing their global presence, with remarkable growth in downloads, user engagement, and revenue across diverse markets… As Chinese developers expand globally, understanding regional preferences and nuances is critical. Going beyond simple localization to full culturalization — integrating local cultural elements, addressing regional needs, and resonating with local values — is essential for creating deeper connections and building stronger, more loyal user bases,” the report added. — B.M.D. Cruz

Philippine energy realism and Trump’s energy policies

I attended the afternoon session of Stratbase’s “Pilipinas Conference 2024” on Nov. 7. It was on “Energy transition and green industries.” The keynote speakers were Energy Secretary Raphael Lotilla and Environment Secretary Toni Yulo Loyzaga.

Mr. Lotilla highlighted huge targets for offshore wind, plus the slow introduction of nuclear power in our energy mix. Ms. Loyzaga started with the usual climate fears, talking about the high number of deaths and destruction of property because of too much water and flooding.

On the panel were Manny Rubio, president and CEO of Meralco Power Gen Corp. (MGen); Sandro Aboitiz, chief financial officer of Aboitiz Power Corp.; Paul Everingham, CEO of Asia Natural Gas and Energy Association; Michael Toledo, chairman of the Chamber Mines of the Philippines; and Martin Antonio “Dennis” Zamora, president and CEO of Nickel Asia Corp.

I liked the points made by these three gentlemen — Messrs. Rubio, Aboitiz, and Toledo.

Mr. Rubio emphasized the need for energy security and a balanced mix of reliable baseload with intermittent renewables. He noted that their 3,500-megawatt (MW) Terra Solar facility — the world’s largest contiguous solar plus battery storage facility — is equivalent to 850 MW of mid-merit reliable energy with battery.

I like the kind of energy realism shown by Mr. Rubio, not the usual energy alarmism or hyped-up optimism about renewables that we often hear or read. It is good that MGen has a portfolio of coal and gas plants that can deliver electricity 24/7 even if the sun is not shining at night or is behind heavy clouds, even if the wind is not blowing.

Mr. Aboitiz made similar realistic statements, saying that “the energy transition journey is not linear and is extremely complex, [it] needs alignment with the country’s needs and circumstances, [there is] no one-size-fits-all solution or silver bullet.” He is correct to remind us that we are still “a developing country that aspires for continued growth, to become an upper-middle-income economy and eradicate poverty. Striking a balance between energy security, affordability, and sustainability requires the adoption of a tailor-fit transition strategy.”

He calculates that the Luzon grid alone will need 600-700 MW of new baseload energy per year, and this does not yet consider new power intensive sectors like data centers or the electrification of transportation. Thus, the need for a balanced mix of traditional and renewable energy sources, supported by new technologies in energy storage and emissions reduction.

Meanwhile, Mr. Toledo passionately and articulately highlighted four policy challenges and measures in the mining sector. One, the need for long-term policy consistency from national to local governments. Two, the need to simplify and expedite the approval process for mineral agreements. Three, the need to minimize business continuity risks from local ordinances. And four, the need to have a stable, predictable mining fiscal regime, including a “financial stability clause.”

I agree with all of these four points. I will add that open-pit mining should be encouraged for two reasons: it makes the extraction of ores and metals easier, and the mined-out area can serve as a man-made lake and water catchment. This will help reduce flash flooding.

TRUMP’S ENERGY POLICIES
During his first term as US President in 2017-2020, Donald Trump had a “drill baby drill” policy and significantly expanded US oil-gas production and exports. Take liquefied natural gas (LNG) for instance. US exports were only 0.8 billion cubic meters (bcm) at the end of Obama’s first term in 2012, increasing slightly to 4 bcm at the end of Obama’s second term in 2016. In Trump’s first year, this quadrupled to 17 bcm, and further ballooned to 61 bcm in 2020.

Looking at crude oil, US exports were only 2.68 million barrels per day (mbpd) in 2012, rising to 5.1 mbpd in 2016, and further increasing to 5.9 mbpd in 2017 and 8.1 mbpd in 2020. The Biden administration took off from the high momentum of oil-gas exports under Trump (see the table).

In his second term, Mr. Trump will resume his “drill baby drill” policy and pursue US energy dominance — not just energy security — to be a powerhouse producer of oil, LNG, and coal, plus nuclear technology, and export more to its allies worldwide, helping strengthen their economies. Trump explicitly announced energy deregulation, not energy heavy regulation and rationing, and the streamlining of permitting processes for energy infrastructure. He also intends to repeal the Inflation Reduction Act (IRA), even partially. The IRA is expanding the mandates and favoritism for intermittent renewable power sources like wind-solar, among others.

We should have similar policies here in the Philippines, as should other developing countries. We should prioritize saving our jobs and businesses from high energy prices and big bureaucracies. Not saving the planet or saving climate bureaucracies.

 

Bienvenido S. Oplas, Jr. is the president of Bienvenido S. Oplas, Jr. Research Consultancy Services, and Minimal Government Thinkers. He is an international fellow of the Tholos Foundation.

minimalgovernment@gmail.com

Meralco’s Movem, Polish firm ChargeEuropa to deploy EV charging stations

MOVEM Electric, Inc., the sustainable mobility arm of Manila Electric Co. (Meralco), has partnered with Polish infrastructure provider ChargeEuropa to deploy electric vehicle (EV) charging stations.

Movem signed a memorandum of understanding with ChargeEuropa to install and operate ChargeEuropa’s EV charging stations throughout the Philippines, the company said in a statement on Wednesday.

The exclusive partnership allows ChargeEuropa to expand its presence in Asia, with the Philippines as its first point of entry in the region.

Founded in 2018, ChargeEuropa has deployed ad-display chargers —  combining EV charging and ad space through an integrated LED screen — in Poland, the Czech Republic, Romania, and other parts of Europe.

“We chose this market because we strongly believe in the potential of the Philippine EV industry and market. We see that EV charging is becoming a growing and very significant part of mobility in the country,” ChargeEuropa Chief Executive Officer (CEO) Matt Tymowski said.

Movem President and CEO Raymond B. Ravelo said that the company will be the prime mover in deploying ChargeEuropa charging stations across Metro Manila and the rest of the country.

“Our vision in Movem to drive a highly electrified, emissions-free Philippine transport sector is brought to life through partnerships with like-minded institutions such as ChargeEuropa,” Mr. Ravelo said.

“Ultimately, our thrust and goal is to bring world-class EV solutions not only to our clients but also to the wider public,” he added.

The partnership with ChargeEuropa forms part of Movem and Meralco’s support for the Electric Vehicle Industry Development Act “through the provision of end-to-end EV and charging infrastructure solutions for institutional customers and the riding public.”

EVIDA requires industrial and commercial companies to have at least a 5% share of their fleets comprise EVs.

“Meralco, through Movem, has long since looked into the EV industry and aided in the transition together with the regulators and advocates within the industry like the Electric Vehicle Association of the Philippines (EVAP),” Meralco Senior Vice-President and Chief Revenue Officer and Movem Chairman Ferdinand O. Geluz said.

Meralco established Movem last year as its new subsidiary that will focus on the development and deployment of various electric transportation solutions.

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera

Bo’s is going to Canada; releases holiday menu

Bo’s released its special holiday items at its flagship location in Makati’s Glorietta 5. Most of the items use Filipino ingredients, highlighting the idea of Philippine Christmas – which is just as well, because they’ll be in Canada by this time next year.

In a tasting on Nov. 6, Bo’s showed off its Puto Bumbong Cheesecake, Halo-Halo Cake, and returning holiday favorite Bibingka Cheesecake and Mini Bibingkas. As for drinks, there’s the Dark Mocha Macadamia Froccino. They’ve also entered a partnership with local candy bar brand Choc Nut, hence the new Choc Nut Series featuring the Choc Nut Mocha Froccino, Iced Choc Nut Latte, and Hot Choc Nut Latte.

“That’s really part of our mantra: putting the spotlight on Philippine coffee, and also that’s part of our social commitment as well, to partner with Filipino brands and bring them together with us as we grow as a company,” said Bo’s Chief Operating Officer and Senior Vice-President Rachel Fallarme. Bo’s is known for partnerships with local coffee growers, such as those in Sagada, Benguet, Bukidnon, and Davao.

O CANADA
The year is ending sweetly for Bo’s: according to Ms. Fallarme they currently have 150 stores worldwide and are targeting to open 10 stores in the next six weeks, with 35 more to open next year.

And they are spreading their wings even wider.

While they already have a presence in the Middle East in Qatar and the UAE, they are planning to open more, rounding out the number to 20.

“Next year, the good news is that we’re going to open in Canada,” she said in a speech.

In a group interview, Ms. Fallarme said that the franchise deal means opening 10 stores in the Greater Toronto Area in 10 years. “That’s the commitment, but we do have four already identified,” she said, and the first ones will be open in about a year or two. The master franchise for the Canadian venture will be operated by a Filipino-Canadian immigrant family who visited the Philippines after several years, and liked Bo’s in Pangasinan so much they decided to open their own in their new home, she said.

“Not many Filipino companies succeed on the global stage. We’d like to think of ourselves as the Jollibee of coffee,” she said, referring to the local fast food chain’s success in opening branches abroad.

GROWING AT HOME
“One of our strategies is really to saturate the Philippines,” said Ms. Fallarme. “What we have done is to promote Bo’s Coffee as a good franchise business. That’s how we are able to enter certain markets, especially those putting up stores in first-in-market locations.” This is why they are the only national brand in Marawi (Ms. Fallarme also counts this as their biggest branch).

Bo’s was founded in 1996 by Steve Benitez, with its first branch opening in Cebu.

It could be a steep hill for Bo’s to climb, when one realizes that their direct competitors in the Philippines are international brands. While she admits that the international brands have the advantage due to their sheer size, Bo’s still has one card up their sleeve.

“Other international brands would be No. 1 in terms of recall, primarily because of the number of stores they have,” she said of the results of a recently conducted market study, noting that one international chain has three times more stores than they do (Bo’s has 136 in the Philippines at present).

“In that study, which we are happy to say, we are No. 1 in terms of the taste.” — Joseph L. Garcia

CIMB, Lazada launch savings account

CIMB BANK Philippines, Inc. (CIMB Bank PH) has launched a savings account product embedded in Lazada Philippines’ mobile application, expanding its partnership with the e-commerce platform.

“True to our mission as we pioneered mobile digital banking in the Philippines, we are going beyond credit-related inclusions on the Lazada platform and expanding our efforts to also help Filipinos grow their savings as well, alongside earning rebates for their online purchases with Lazada, to help them achieve even more of their financial needs and life goals,” CIMB Bank Philippines Chief Executive Officer Vijay Manoharan said in a statement.

Customers can open a LazSave account via the Lazada app. Filipino citizens who are at least 18 years old at the time of application are required to have a valid government-issued ID and a Lazada app account profile to sign up for LazSave.

The LazSave savings account has no initial deposit or maintaining balance requirement. It offers a 1% rebate for all purchases on the Lazada app excluding digital goods with no spending cap during the launch period.

The new savings account offers an interest rate of 5% per annum, also available during LazSave’s introductory period.

“At Lazada we are committed to building a superior online platform that optimizes user experience while safeguarding our buyers and sellers. Launching LazSave with CIMB brings new value and rewards for Lazada app users, empowering Filipinos with more ways to take charge of their finances and participate in the digital economy,” Lazada Philippines Chief Executive Officer Carlos O. Barrera said.

Through LazSave, CIMB and Lazada hope to drive digital commerce and make financial services more accessible to Filipinos, they said. — A.M.C. Sy

Lack of work experience

FREEPIK

IT’S ABOUT the time of year again when job applicants line up for openings, for elective positions. Often, the very lack of qualification (I’ve never held any public office) is touted as an advantage in having an open mind and no history of wrongdoing — yet. Does this candidate even have an advocacy or program to promote? (I’ll have to win first and think about what to do afterwards.)

The lack of experience in a political job is not an obstacle, especially in ruling dynasties in the local setting. It is not clear whether those serving coffee and drinks or driving for their principals are also privy to the master’s and mistress’ discussions on dynastic governance. (Should we pressure the local business groups to support us?) So far, only relatives count in this situation.

Dynasties flourish because they have access to the levers of power and wealth. Qualification for the job is not a consideration. Only age and citizenship matter. (Sometimes, the latter isn’t even checked.) Dynastic candidates don’t apologize for belonging to a political family — we get elected by the people. Just because we have amassed resources to thwart any outsiders from contesting our seats doesn’t mean that we are not qualified to run. Anyway, dynasties can sometimes lose too.

How can a lack of experience for any job even be acceptable?

The newly elected (and raw) politician is afforded the benefit of a “honeymoon period,” a hiatus from harsh criticism allowing him to check the fire exits and discover which water closets in the building don’t flush properly. There is an “onboarding” workshop to brief the newbie on his job, the committees available to the members, and the need to recruit staff. The latter are expected to be more experienced than their boss in the ways of the new office. (Sir, don’t trim your moustache at the hearing.)

After raising hopes of change on the campaign trail, the rookie just wants to belong and get his share of the pork. (Who’s handing it out?)

Critics in social media may bash unqualified candidates whose only claim to fame is being a celebrity in another field. But that’s not the way it works. Even legal experience which seems to be an advantage for the job is seen as “not connecting to the people.” Can education even seem to be a disqualifier for a candidate? Spouting off one’s academic and work qualifications as advocates of public causes can put off the majority of voters.

The pining for an “intelligent vote” does not always translate into voting for an intelligent candidate. Should the only concern for electoral reform be limited to the honest counting of votes, rather than a general voters’ education program?

What is an intelligent vote after all if not the accumulated mutterings of people who put a premium on academic credentials, purity of heart (usually untested by temptation), and a point of view that coincides with one’s own? The flipside of this is that the “qualified candidates” keep getting rejected. Maybe they’re not cut out for public service?

Nostalgia for those days when the legislators were highly educated and principled members of the social elite does not seem to resonate with the voting public anymore.

If we believe in democracy as the rule of the people, shouldn’t we accept celebrities, entertainers, hard-nosed advocates of the complainers who need champions to do the cursing for them? They always top the polls.

A lack of experience for public office seems to have become an advantage. Popularity from sports, show business, and media have trumped any skills one may be able to bring to the public discourse.

It is certainly not in the elective offices that qualifications seem to matter. In the appointive positions even in the public sector, there is more scrutiny of work experience, academic credentials, and even public advocacy. Such criteria come closest to the private sector’s screening mechanism for employment.

Corporate recruitment views a lack of knowledge or work experience as an immediate disqualifier. Even in the succession planning of family corporations, some kind of apprenticeship is undergone by the eventual CEO. This token nod to “experience” is accepted as sufficient to assume corporate leadership at a young age.

Still, even the most experienced and knowledgeable corporate recruit can fail in his job when confronted by an entrenched corporate culture — which he may not be able to change in time.

 

Tony Samson is chairman and CEO of TOUCH xda

ar.samson@yahoo.com

Only 22% of organizations in PHL are fully ready to deploy AI-powered tech — Cisco

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ONLY 22% of organizations in the Philippines are fully ready to utilize artificial intelligence (AI), but many are eager to increase AI investments in the next five years, according to Cisco Philippines.

The Philippines saw a slight increase from 17% last year, highlighting the challenges Philippine organizations face in adopting and leveraging AI, according to Cisco Philippines, citing its 2024 AI Readiness Index.

According to the study, 98% of Filipino organizations reported increased urgency to deploy AI over the past year.

The AI readiness index is based on six pillars: strategy, infrastructure, data, governance, talent, and culture.

According to Cisco, 65% of them allocated 10-30% of their information technology (IT) budgets to AI deployment.

Filipino organization’s top AI investment goals are improving efficiency and profitability, fostering innovation and competitiveness, and growing revenue and market share.

Despite significant AI investments in cybersecurity, many organizations said their expectations were not met.

They must adopt a comprehensive approach to ensure AI readiness, said Cisco Philippines Managing Director Zaza Soriano-Nicart.

“This year’s AI Readiness Index reveals that to fully leverage the potential of AI, companies need a modern digital infrastructure capable of meeting evolving power needs and network latency requirements from growing AI workloads. This must be supported with the right visibility to achieve their business objectives.”

The study also revealed that only 22% of organizations have the necessary graphics processing units needed to meet current and future AI demands.

Further, only 45% have the capability to protect data in AI models with end-to-end encryption, security audits, continuous monitoring, and instant threat response.

As demand for AI increases, nearly half (48%) of organizations plan to earmark more than 40% of their IT budgets to AI investments in the next four to five years.

The Cisco AI Readiness Index was based on a double-blind survey of 3,600 senior business leaders with over 500 employees across 14 markets in the Asia-Pacific, Japan, and China. — B.M.D. Cruz

Apple’s next device is an AI wall tablet for home control, Siri, and video dalls

BW FILE PHOTO

APPLE, Inc., aiming to catch up with rivals in the smart home market, is nearing the launch of a new product category: a wall-mounted display that can control appliances, handle videoconferencing, and use artificial intelligence (AI) to navigate apps.

The company is gearing up to announce the device as early as March and will position it as a command center for the home, according to people with knowledge of the effort. The product, code-named J490, also will spotlight the new Apple Intelligence AI platform, said the people, who asked not to be identified because the work is confidential.

Chief Executive Officer Tim Cook is betting that the product can make Apple a force in the smart home segment, where the company has trailed behind Alphabet, Inc. and Amazon.com, Inc. in recent years. He has made the device a priority for the company’s engineering and design departments, and is pushing to get it to market after more than three years of development.

A representative for Cupertino, California-based Apple declined to comment.

The device has a roughly six-inch screen and looks like a square iPad. It’s about the size of two iPhones side by side, with a thick edge around the display. There’s also a camera at the top front, a rechargeable built-in battery and internal speakers. Apple plans to offer it in silver and black options.

The product has a touch interface that looks like a blend of the Apple Watch operating system and the iPhone’s recently launched StandBy mode. But the company expects most people to use their voice to interact with the device, relying on the Siri digital assistant and Apple Intelligence. The hardware was designed around App Intents, a system that lets AI precisely control applications and tasks, which is set to debut in the coming months.

The product will be marketed as a way to control home appliances, chat with Siri, and hold intercom sessions via Apple’s FaceTime software. It will also be loaded with Apple apps, including ones for web browsing, listening to news updates and playing music. Users will be able to access their notes and calendar information, and the device can turn into a slideshow display for their photos.

A first for Apple, the device will compete with Amazon’s Echo Show and Echo Hub smart displays, as well as Google’s Nest Hub. It’s also reminiscent of Meta Platforms, Inc.’s Portal, a failed videoconferencing device from the social media giant. Apple is already planning a more expensive follow-up version with a robotic limb that can move the screen around. Apple plans to market that technology as a home companion with an AI personality.

The higher-end product could be priced at as much as $1,000 depending on the components it uses, the people said. The display-only device will be far less than that, approaching the cost of competitors’ products. The Echo Show 8 is priced at $150, while the Echo Hub is $180. The Nest Hub Max costs $230.

Apple has designed different attachments for the device, including ones that affix the screens onto walls like a classic home-security panel. There will be bases with additional speakers that can be placed in the kitchen, on a nightstand or on a desk. Apple imagines the FaceTime feature being used while cooking or for videoconferencing during work meetings.

A person familiar with its development said the product is designed to bring Siri and Apple Intelligence to life in a way that hasn’t happened before. Last month, the company rolled out a limited set of Apple Intelligence features for iPhones, iPads, and Macs. More advanced capabilities — like generative AI for images and an integration with OpenAI’s ChatGPT — are coming in December.

The screen device, which runs a new operating system code-named Pebble, will include sensors to determine how close a person is. It will then automatically adjust its features depending on the distance. For example, if users are several feet away, it might show the temperature. As they approach, the interface can switch to a panel for adjusting the home thermostat.

The newly designed operating system will also include a customizable home screen where users can run widgets for checking stock tickers, the weather, and appointments. Or they can configure the screen to highlight key home controls. There will also be a dock for quickly launching favorite apps and an iPhone-like home screen grid of software icons.

During development, Apple discussed launching an app store as part of the device, but it recently decided to exclude this feature — at least in the initial version.

The product will tap into Apple’s long-standing smart home framework, HomeKit, which can control third-party thermostats, lights, locks, security cameras, sensors, sprinklers, fans, and other equipment. Apple supports hundreds of accessories with HomeKit and offers iCloud online storage plans for home security footage.

Security will be a particular focus for the new device. It will deliver security alerts and display camera footage, including video from smart doorbells. It also will serve as an intercom system between rooms in homes with multiple Apple displays.

Apple has explored building its own line of smart home accessories, including an indoor security camera that could double as a baby monitor. The idea would be to emphasize privacy controls, one of Apple’s hallmarks. If the smart home display is successful, the company could prioritize plans to bring such accessories to market.

Apple also is working on a system that will let the home device sense how many people are nearby. That approach relies in part on external sensors that could be placed in wall outlets in the vicinity of the device, but those accessories may come later or get canceled altogether.

The product will be a standalone device, meaning it can operate almost entirely on its own. But it will require an iPhone for some tasks, including parts of the initial setup. It will also work with Apple’s Handoff feature, which lets users trigger a function on one device and then continue on their iPhone after walking away.

The project is a collaboration between several Apple teams, including the home hardware engineering group led by executive Matt Costello and the software engineering ecosystems group run by Arun Mathias. Mr. Costello and Mr. Mathias are known as the “executive sponsors” responsible for development of the product. Apple’s industrial and human interface design teams also are heavily involved.

Ultimately, Apple hopes it can sell multiple units of the device to consumers, who will place them around the house and use them several times a day. Bloomberg