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UP group developing bike-share phone app

UP BIKE SHARE, an advocacy group from the University of the Philippines (UP)-Diliman, is developing a smartphone application for its fourth-generation, bike-sharing system.

“As we shift from a third-generation, bike-sharing system to a fourth-generation one, we have been developing a smartphone app to replace the current SMS-based system,” UP Bike Share President Kimberly Ileanne A. dela Paz said in a phone message.

“This app will have users log in if they want to borrow a bike, track their activity, and also track the location of the bikes,” she added.

UP Bike Share has been lending bikes to hospitals since mid-March when the government imposed a strict lockdown to contain a coronavirus pandemic. The hospitals include St. Luke’s Medical Center-Bonifacio Global City, Philippine Heart Center, and Philippine Children’s Medical Center.

“Most of our bikes are still being used by the hospitals’ workers, so they have requested an extension of the lending period. Due to this, we’re putting off our plans of offering rentals to the UP community since we only have a limited number of bikes,” Ms. Dela Paz said.

She said the organization is looking to help other UP campuses implement their own bike-sharing system.

Ms. Dela Paz also welcomed the government’s initiative to build protected bike lanes along EDSA, and eventually, all over the capital.

“We want this to be seen as a testament to how bike lanes are necessary, useful, and can benefit our transportation system. We will continue to push other government units to follow suit and install their own bike lanes in their respective communities,” she said.

The Department of Transportation said it has partnered with Metropolitan Manila Development Authority, Department of Health, and Department of Public Works and Highways to construct protected bike lanes “to connect major roads, residential areas, and high-volume commuter areas to major medical facilities.”

“In Manila City and Quezon City, a network has been instituted to make hospitals more accessible, especially for frontliners,” the department said in a recent statement.

The department also plans to develop pedestrian facilities around major rail stations.

“Through the EDSA Greenways Project, covered and elevated walkways leading to/from the rail stations and nearby land uses will be built. Phase 1 includes the stations in Balintawak, Cubao, Guadalupe, and Taft,” it added. — Arjay L. Balinbin

Would you stay in a Louis Vuitton Hotel right now?

By Andrea Felsted, Bloomberg Opinion

BEFORE the novel coronavirus hit, the world’s bling behemoths were pulling out the stops to sell “experiences” where their jet-setting customers could indulge in opulent lodging and dining, all while posting photos of themselves on Instagram. Between 2010 and 2019 demand for experience-based luxury, including fine wines and gourmet food, outstripped that for personal goods, such as watches and handbags.

Then COVID-19 upended the trend. Few are crossing oceans to stay at a Bulgari hotel or dine at a Gucci restaurant right now.

But companies from Giorgio Armani SpA to Capri Holdings, Ltd.’s Versace and LVMH Moet Hennessey Louis Vuitton SE could still turn the strategy of tapping into luxury as a broader lifestyle to their benefit. They could offer extravagant getaways to high spenders happy to pay extra to dine, shop and relax in a safe and secluded environment. Or coax more potential local customers out for exclusive home-town retreats given people aren’t splurging on long-haul airfare. And they could expand their offering with a broader push into health and wellness, where spending was already booming before the pandemic.

LVMH, the world’s biggest luxury group, is probably the most advanced on this frontier. It acquired Belmond, owner of Venice’s Hotel Cipriani, to complement its exclusive Cheval Blanc hotel chain. Prada SpA owns the historic Milanese pastry shop Marchesi, Ralph Lauren Corp. has chichi bars and Kering SA’s Gucci has opened Osteria restaurants in Florence and Los Angeles with three-Michelin-starred chef Massimo Bottura.

The investments were meant to cater to rich globetrotters, particularly from China. But while consumers around the world are prepared to travel domestically, or  to nearby countries, demand for luxury lodging catering to international clients and long-haul flights remains severely depressed. It’s not clear when the number of big-spending tourists snapping up Hermes scarves and Chanel handbags will bounce back.

When it does, LVMH will be able to offer its affluent customers everything from breakfast in bed to the dress they wear to dinner. It could throw in a visit to one of its vineyards in France or a distillery in Scotland for a truly personalized experience.

In the meantime, with sales of top-end goods set to fall by as much as 35% this year, luxury adviser Mario Ortelli says stronger brands may get opportunities to acquire assets that wouldn’t otherwise come onto the market. When it comes to hospitality, that could include trophy hotels.

Offering unique culinary experiences could also be a way for groups to pull in a hip local crowd in the US or European markets. Some luxury brand restaurants are adapting to the new reality: Ralph Lauren’s Polo Bar in New York is offering home delivery.

While social-distancing measures may mean fewer diners, this is less of a worry for the big luxury groups. Hospitality is more about creating an aura around their collections than making money.

And if fewer Chinese are coming to Europe, there may be opportunities in exporting branded experiences to China. Luxury spending is recovering there as travelers stay home. While Burberry Group Plc hasn’t reopened its Thomas’s Café in London yet, there’s one in its new Shenzhen store opened in partnership with Tencent Holdings, Ltd. Gucci plans another restaurant in Tokyo, but there is no reason why its Osteria collaboration with Bottura couldn’t be expanded to other Asian cities.

At home or abroad, health and wellness offers another area for experimentation. This could include beauty spas, but also wellness services in flagship stores, such as the vitamin infusions offered by London’s Harrods. With many consumers still nervous about hitting the gym, helping wealthy customers get in shape is worth exploring, particularly given the increasing fusion between fitness and fashion.

There are still risks. Running restaurants, hotels, and health spas is very different to selling shoes and handbags. For hotels, it requires a distinctive aesthetic, not to mention pockets deep enough to ride out the current travel slump. Even before the pandemic, a bad stay, meal, or skin peel risked alienating those who would buy clothing and jewelry. Now any brand offering services faces the additional peril of its premises becoming a source of infection.

No wonder LVMH has appointed an experienced executive to lead its charge. Andrea Guerra, formerly of Eataly and Ray-Ban maker EssilorLuxottica SA, will soon take up the role of chief executive of  LVMH Hospitality Excellence. Partnerships with restaurants, hotel operators or high-end fitness chains are another option. For example, Marriott International, Inc. operates the Bulgari hotels.

Either way, expanding into new categories amid the worst luxury downturn in modern history is not for the fainthearted. But the biggest players take a long-term view. Offering extravagant experiences is one area where this approach could pay off.  — Bloomberg

PayMaya partners with Pera Hub

PAYMAYA Philippines, Inc. has partnered with a cash transaction company to offer its digital payment services nationwide.

In a statement, PayMaya said Pera Hub’s more than 3,000 branches nationwide would serve as touchpoints for more than 30,000 Smart Padala outlets where PayMaya services are also available.

“Our partnership with Pera Hub allows us to offer such critical lifeline to even more Filipinos nationwide, so they can continue to have broad access to financial services whether it’s sending remittances or adding money to their PayMaya accounts,” PayMaya President Shailesh Baidwan said in the e-mailed statement.

PayMaya, a unit of Voyager Innovations, Inc. which is a PLDT, Inc. subsidiary, also seeks to lead the country’s transport chain to full digitization through its end-to-end payment platforms.

The company has partnered with UBE Express. and several taxi and ride-hailing services for e-payment.

PayMaya has signed an e-payment deal with the Land Transportation Office and Treasury bureau for motor vehicle registrations and renewals.

In April, PLDT, Inc. said the stakeholders of Voyager had committed up to $120 million in fresh capital to fuel its expansion through its financial technology arm PayMaya. 

The fresh funding would let PayMaya fast-track digital and financial inclusion for many Filipinos, PLDT said.

PLDT, China’s Tencent Holdings Ltd., US-based Kohlberg Kravis Roberts & Co., International Finance Corp., and IFC Emerging Asia Fund had signed deals for the new funding.

Voyager’s portfolio, aside from PayMaya, includes PLDT’s mobile remittance brand Smart Padala and financial technology firm FINTQnologies Corp. whose products include digital banking, aid and finance, and lending platforms.

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

Samsung’s $1,999 Fold 2 rectifies major foldable phone foibles

SAMSUNG ELECTRONICS CO. will start taking pre-orders for its second tablet-style, foldable phone, the Galaxy Z Fold 2, on Wednesday ahead of wide availability on Sept. 18. Touting significant display and hinge upgrades, the company kept the price nearly unchanged at $1,999.

The most immediate improvement is the new foldable’s exterior screen, which now spans 6.2 inches and functions much more like a conventional smartphone. Internally, Samsung has slimmed the bezels around the 7.6-inch main display and covered it with ultra thin glass, the same material as used in its smaller Galaxy Z Flip handset, which has shown itself more resilient to scratches. The Android-powered Fold 2 also comes with fifth-generation, wireless networking and what Samsung claims are its best speakers in any Galaxy device to date.

The Galaxy Z Fold 2 maintains the luxury positioning that the $1,980 original established. Samsung is counting on its foldable phone lineup to set its long-term design path, and eventually contribute to profitability at a time when its mass-market flagships, S and Note series, are experiencing plateauing demand. In the second quarter, Chinese rival Huawei Technologies Co. took over the title of the world’s biggest smartphone maker from Samsung for the first time.

After going through a rocky start with the original Galaxy Fold last year, which included a release delay due to a design flaw, Samsung’s successor device embodies several lessons learned along the way. The plastic inner display is no more and the hinge has been re-engineered with a particular focus on keeping dust and dirt out. The Fold 2 can be opened and closed 200,000 times — more than 100 times per day for five years — without a problem, according to the company.

The Galaxy Z Fold 2 goes on sale on Sept. 18 in a choice of either Mystic Bronze or Mystic Black. Consumers ordering online will also get a choice of hinge color, from metallic gold, silver, red or blue. The 5G device will come with 256GB of storage and 12GB of RAM. Samsung will also sell a limited Thom Browne edition of the Fold 2 on Sept. 25. — Bloomberg

Yields on term deposits inch up as budget deficit widens in July

BSP
THE central bank’s term deposits fetched slightly higher rates on Wednesday. — BW FILE PHOTO

YIELDS ON the term deposits auctioned off by the Bangko Sentral ng Pilipinas (BSP) rose on Wednesday following the wider budget deficit as of July amid expenses for the government’s pandemic response and declining tax revenues.

Total tenders for the BSP’s term deposit facility (TDF) reached P502.084 billion on Wednesday, going beyond the P310 billion on the auction block. This also beat the P391.67 billion in bids seen last week for the P270-billion offering.

Broken down, the seven-day papers saw bids totaling P171.969 billion, higher than the P130-billion offering as well as the P145.84 billion in tenders logged on Aug. 26.

Accepted yields for the one-week term deposits ranged from 1.75% to 1.9%, slightly wider than the 1.75% to 1.88% band recorded a week ago. This brought the average rate for the tenor to 1.8129%, inching up by 2.95 basis points (bps) from the 1.7834% seen in the previous auction.

For the 14-day term deposits, demand totaled P225.55 billion, surpassing the P130-billion offering and the P163.54 billion in tenders logged a week ago for the P110 billion on the auction block.

Rates for the two-week papers fell within 1.789% to 1.9%, a wider margin compared to the 1.76% to 1.95% recorded the previous week. This brought the average rate of the 14-day deposits to 1.8424%, increasing by 1.07 bps from the 1.8317% quoted last week.

On the other hand, tenders for the 28-day papers amounted to P104.565 billion, more than double the P50 billion up for grabs as well as the P82.29 billion in tenders seen last week for the P50 billion on offer.

Banks asked for yields ranging from 1.795% to 1.8998%, a narrower margin compared to the 1.7655% to 1.9518% seen a week ago. With this, the tenor’s average rate stood at 1.8613%, rising by 1.32 bps from the 1.8481% logged a week ago.

The TDF is the central bank’s main tool to gather excess liquidity in the financial system to better guide market interest rates.

“The auction results continue to show that financial system liquidity remains ample,” BSP Deputy Governor Francisco G. Dakila, Jr. said in a statement.

The slight uptick in TDF yields came on the back of data showing a wider budget deficit and higher government borrowings programmed for 2021, said Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort.

The government’s budget deficit widened to a record P700.6 billion in the first seven months of the year, nearly six times the P117.9 billion seen a year ago, data from the Bureau of the Treasury released last week showed. This came on the back of increased expenses due to the pandemic and lower revenues from tax collections due to a slowdown in economic activity.

Meanwhile, the government is targeting to borrow P3 trillion in 2021 to finance more than half of its spending plan and plug its widening deficit. — L.W.T. Noble

Aboitiz Power remits P508M to local governments

ABOITIZ Power Corp. has turned over half a billion pesos of its energization fund to local government units to help them battle the coronavirus disease (COVID-19) and fast-track electrification projects.

The company has remitted P508.2 million under a Department of Energy program since last year, the company said in a statement on Wednesday.

“We are glad that these funds are now with our communities as these will ensure they have the resources to fund crucial projects in their areas,” Aboitiz Power President and Chief Executive Officer Emmanuel V. Rubio said.

“Recent developments have also allowed them to use these remittances specifically to bolster their campaign against COVID-19,” he added.

This requires generation companies to allot a centavo per kilowatt-hour of their earnings as aid to host communities’ electrification projects.

It allowed them in April to use the funds for local governments’ anti-coronavirus efforts. — Adam J. Ang

The Virtual Life: HK wine festival, Rustan’s beauty fest go online

WHEN you can’t hold your events in the real world as the COVID-19 pandemic rages, the virtual world beckons. The popular Hong Kong Wine & Dine Festival and Rustan’s Beauty Addict party both have gone online, adapting to the needs of the times.

In view of the uncertainties concerning the COVID-19 pandemic, the Hong Kong Tourism Board (HKTB) announced that its annual signature event, the “Hong Kong Wine & Dine Festival” will, for the first time, take on a virtual format.

HKTB Chairman Dr. YK Pang said, “The virtual Hong Kong Wine & Dine Festival will strive to recreate the festive, joie de vivre atmosphere the event is famous for, by offering access to exclusive wine and gourmet experiences curated by experts on the subject. Taking advantage of the virtual format, the event will be extended from the usual four days to several weeks so that more people can take part regardless of time and geographical constraints.”

To preserve as much original flavor of the physical event as possible, the HKTB is building an online hub where most of the Festival programs will take place. A variety of wine merchants will be providing special discounts and products tailored for the Festival, which participants can browse and purchase in a virtual exhibition space.

Meanwhile, renowned wine and food critics, chefs, and wine experts will be invited to speak on wine-pairing and culinary topics in virtual workshops and classes.

ONLINE PARTY
Meanwhile, Rustan’s Beauty Addict celebrates its 8th anniversary with its first ever online live party on Sept. 3.

Rustan’s The Beauty Source will bridge brands and consumers through an online live party on the Beauty Addict Portal. The event will bring together beauty gurus, influencers, and makeup aficionados for an afternoon filled with all things beauty.

Hosted by Tim Yap, the virtual experience will start with a Facebook live discussion at 4 p.m. with some of the well-known personalities from different fields — fashion icon Tessa Prieto-Valdes, entrepreneur and Miss Universe Philippines 2017 Rachel Peters, broadcast journalist Marie Lozano, businesswoman and model Mikaela Lagdameo-Martinez, and host and social media lifestyle content creator Janeena Chan. Guests will get the chance to win in a raffle with a P30,000 eGCs shopping spree at Rustan’s The Beauty Source, P20,000 worth of beauty products, P10,000 worth of beauty products as prizes. From tackling topics about mindful beauty to all-clusivity, to giving out special giveaways, the virtual event will serve as a countdown to open the Beauty Addict Portal at the end of the live discussion at 5 p.m.

Beauty Addict 2020 has prepared various activities for everyone to enjoy online. Face Forward will not only be a portal for patrons to shop but also play interactive games, much like the previous annual celebrations. The first 1,000 people to finish five games will win a Beauty-in-a-Bag with a P500 Rustan’s voucher and gifts from La Prairie, Clarins, Neal’s Yard Remedies, Murad, Sisley, L’Occitane, Phyto, Jane Iredale, Stila, Deborah Lippmann, Acca Kappa, among others. The P500 voucher can be availed for a minimum purchase of P5,000 at Rustan’s The Beauty Source or via Personal Shopper On Call from Sept. 3 until Nov. 30.

Sites within the Beauty Addict Portal include a Trends Capsule featuring different makeup tutorials and a Photo Room where attendees can take photos and create interactive GIFs. Exclusive #RustansBeautyAddictFaceForward beauty filters highlighting the three looks of the future are also available on Instagram.

Rustan’s Makati in-store shoppers will also get the chance to experience the future of beauty safely at carefully set-up beauty areas for customers. Special gifts and treats await Beauty Addict members as they shop on Sept. 3 in any Rustan’s Department Store or through Rustan’s Personal Shopper On Call! The first 200 members to purchase P10,000 worth of beauty products will receive a P1,000 digital voucher. Reach P20,000 and get an additional SORA multipurpose towel on top of the voucher. Beauty Addict members can also get the chance to win a luxurious shopping spree! For every P2,500 purchase from Sept. 1 to Oct. 31, a member is entitled to one e-raffle entry.

ABS-CBN Corporation to hold its virtual stockholders’ meeting on September 24

NOTICE OF ANNUAL STOCKHOLDERS’ MEETING

To:   All Stockholders of
         ABS-CBN Corporation

Please take notice that the Annual Meeting of the Stockholders of ABS-CBN Corporation will be held virtually or conducted through remote communication via https://agm.conveneagm.com/abscbn_asm2020 on September 24, 2020 at 8:00 a.m., to discuss the following:

A G E N D A

  1. Call to Order
    2. Proof of Service of Notice
    3. Certification of Presence of Quorum
    4. Approval of the Minutes of the Annual Stockholders’ Meeting held on April 25, 2019
    5. Report of Management
    6. Ratification of the Audited Financial Statements and Approval of Report of Management
    7. Election of Directors for the Ensuing Year
    8. Ratification of all acts of the Board of Directors, Executive Committee and Management
    for the period covering January 1, 2019 through December 31, 2019 adopted in the
    ordinary course of business
    9. Appointment of External Auditors
    10. Amendment of the Executive Stock Purchase Plan
    11. Other Business
    12. Adjournment

For purposes of the meeting, only stockholders of record as of August 14, 2020 are entitled to attend and vote in the said meeting.

Given the current circumstances, stockholders may only attend the meeting by remote communication, by voting in absentia, or by appointing the Chairman of the meeting as proxy.

Online participation and voting by remote communication will be available for all stockholders. Stockholders who wish to participate and vote online by remote communication will be required to register starting September 3, 2020 and until September 14, 2020. Stockholders who are not able to register as of September 14, 2020 can no longer avail of online voting but may still participate by remote communication, provided such stockholders shall register not later than September 14, 2020. The Registration and Validation Procedures for the 2020 Annual Stockholders Meeting (Virtual) are set out as Annex “A” to this Notice and Agenda.

Stockholders intending to participate by remote communication should register at https://agm.conveneagm.com/abscbn_asm2020 .

All stockholders who will not, are unable, or do not expect to attend the virtual meeting in person may choose to execute and send a valid proxy in writing to the Office of the Corporate Secretary, at 11F Investor Relations Office, ELJ Bldg. Mother Ignacia St. Quezon City or by email at corporate secretary@abs-cbn.com or in digital/electronic form at https://agm.conveneagm.com/abscbn_asm2020 on or before September 14, 2020. Proxies shall be validated beginning on September 15, 2020.

Pursuant to SEC Notice dated April 20, 2020, copies of this Notice, Information Statement, and Other Documents related to the Annual Stockholders’ Meeting, shall be published through The Philippine Star and BusinessWorld.

Electronic copies of the Corporation’s Information Statement, Management Report, SEC 17-A and other pertinent documents are available at its website at  https://www.abs-cbn.com/investors/asm2020 and have likewise been uploaded at the PSE’s EDGE disclosure system.

September 2, 2020                                                                                                   By order of the Board of Directors:

 

 

 

 

 

Dining In/Out (09/03/20)

EDSA Shangri-La’s Summer Palace mooncakes

EDSA Shangri-La, Manila celebrates the mid-autumn season with its Summer Palace Mooncake 2020 Collection: Over the Moon. A variety of moon-shaped sweet cakes are available until Oct. 8, for pick-up and delivery. Choose from six flavors that will satisfy everyone from the traditionalist to the trendy tastemaker. Available are the white lotus mooncake, featuring the deluxe lotus paste filling with salted egg wrapped in a thin golden-brown crust, imprinted with Chinese characters for harmony and longevity; white lotus reduced sugar; red bean; mixed nuts; durian; chestnut; and black sesame. The Summer Palace mooncakes come with a specially designed premium gift box. Price starts at P2,888+ per box; also available per piece at P388+ for a small mooncake and P588+ for a large mooncake. Save up to 30% on bulk orders. For orders of 50 boxes and more, get complimentary delivery to one location within Ortigas, Mandaluyong, Greenhills, The Fort, and Makati area. For orders of 100 boxes or more, receive a complimentary company logo on parchment. For inquiries and advance orders, call (632) 8633-8888 or e-mail summerpalace.esl@shangri-la.com .

Hong Kong MX Mooncakes has new flavors, classic faves

HONG KONG MX Mooncakes returns to Manila for the Mid-Autumn Festival with its classic lineup and brand new additions and packaging. Favorites like White Lotus Seed Paste Mooncake with 2 Egg Yolks and the Lava Mooncake Series will return alongside new flavors such as the Lava Duet (combining custard and chocolate) and the Delightful Moon repack with premium variations and the new Lava Chocolate filling. The Lava Duet Mooncake set includes two flavors, namely the signature Lava Custard and Lava Chocolate, which comes in a box of eight. The Custard Twins Mooncake set is also back with both the classic and the lava variety. Inspired by the auspicious rabbit, the new packaging is sleek and modern while retaining the vibrant colors that signify the festive celebration. The classic flavors — White Lotus Seed Paste Mooncake with 2 Egg Yolks and Lotus Seed Paste Mooncake with 2 Egg Yolks -— now come in a new gift box packaging. Because the Mid-Autumn Mooncake Festival is a celebration for everyone, Hong Kong MX Mooncakes will also be offering the specially created Low Sugar Mooncake Series, which comes in boxes of six mooncakes. Customers can also opt for the Delightful Moon Assorted Mooncake box which includes three classic and lava mooncake variants. Meanwhile, the Mooncake Exclusive Selection box is filled with eight iconic flavors.  For the second year, Hong Kong MX Mooncakes will be brought to Manila by the official Philippine distributor Double Down Import and Export, Inc. The mooncakes will be exclusively available through official online channels — Lazada and Shopee as well as food delivery apps FoodPanda and GrabMart — and a pop-up store in SM Mall of Asia – Level 1 G/F Main Mall in front of Watsons from Aug. 30 to Oct. 4.

Healthy Options has gluten-free gummy bears

YUMEARTH candies are now back in stock at Healthy Options stores, and for delivery within Metro Manila. Made with organic ingredients and no artificial dyes, YumEarth’s gluten free gummy bears are hard to resist natural treats.

M&S, TWG suggest tea

WHILE coffee is the usual go-to drink to start the day and can give that extra push to get work done through the rest of the day, for other people who may want to avoid too much caffeine or they’re not into the bitter taste, tea is a good alternative. TWG Tea and Marks & Spencer (M&S) both offer tea variants to suit different needs. For breakfast, M&S recommends their organic Pure Green Tea (P135), which is just as effective as coffee in giving you that early boost but has a crisp, light and fragrant aroma. Meanwhile, TWG Tea’s classic English Breakfast Tea (P1,895) is also perfect for early mornings — very strong and full-bodied with light floral undertones. After meals, tea can help you with digestion. Elegant and highly refined, the Geisha Blossom Tea (P1,895) is a TWG Tea blend of green tea with refreshing, ripe southern fruits, while M&S’s Pure Peppermint Infusion (P135) gives a light, clean, and refreshing flavor. Taking breaks in the afternoon can help alleviate the stress from the day’s ongoing work: TWG Tea’s best-selling Silver Moon Tea (P1,895) is a blend of green teas accented with a grand berry and vanilla bouquet; M&S’ full-flavored Earl Grey Tea (P235) blends mellow Ceylon with bright, refreshing Kenyan teas and natural bergamot oil. Before bedtime, chamomile tea can help you slow down and relax. Chamomile Packaged Teabags (P1,355) features rare TWG Tea chamomile flowers that boast a rich honey aroma and yield a golden, theine-free cup to help unwind after a long day. M&S’ Pure Camomile Infusion (P135) contains Golden camomile flowers for a sweet and fragrant relaxing taste. For more information or to shop Marks & Spencer, visit www.marksandspencer.com.ph. TWG Tea’s collection of teas and accessories have been made available for advanced ordering. Visit http://tiny.cc/TWGTeaPH to view the catalogue, and call TWG Tea Boutiques directly to place your order: TWG Tea Boutique Greenbelt 5 (0917-804-6931, 7720-8667); TWG Tea Boutique Central Square (0917-803-7775)

Different ways to use Maya Hotcake Mix

A BOX of Maya Hotcake Mix can make so much more than just regular pancakes. Here are some of the variations. Hotcake cereal: cook the hotcake mix as directed but making many, many tiny hotcakes and serve them like cereal topped with maple syrup, nuts, and fruit slices (https://web.facebook.com/Mayahotcake/photos/a.10150704186450774/10158659270420774/?type=3&amp%3Btheater&_rdc=1&_rdr ). Or take the hotcake cereal up a notch by making this no-bake chocolate chip cookie cereal (https://themayakitchen.com/no-oven-chocolate-chip-hotcake-cereal/ ). Go haute cuisine with tiramisu soufflé hotcakes (https://themayakitchen.com/tiramisu-souffle-hotcakes/ ). Make mini donuts (https://web.facebook.com/Mayahotcake/posts/10158562821885774?__tn__=-R&_rdc=1&_rdr) dusted in cinnamon sugar. Or try making a puto flan, the ultimate coming together of two beloved Pinoy treats, puto and leche flan (https://themayakitchen.com/puto-flan/ ). Finally, for a pick-me-upper try coffee hotcakes (https://themayakitchen.com/coffee-hotcakes/ ).  For more information on this, visit www.themayakitchen.com or e-mail contactus@themayakitchen.com, call 892-1185 or 892-5011 local 108 or 0929-679-6102, or visit the Maya Hotcakes and More Facebook page.

Yellow Cab’s Hero promo

FROM Aug. 27 to Oct. 31, Yellow Cab is offering its Only The Finest For Our Heroes promo. Get a free regular Charlie Chan or four pieces of original Hot Chix for every order of 12-inch New York’s Finest pizza, starting at P735. This limited time offer is available in participating Yellow Cab stores nationwide for dine-in, Curbside pick-up, takeout, or delivery. Also available via GrabFood, FoodPanda, and LalaFood. All Yellow Cab stores comply with proper operating guidelines to ensure you get our signature products as safely as possible. For more information, visit https://www.facebook.com/YellowCabPizzaOfficial.

Max’s Payday Delivery Trio

FEAST on all-time Max’s favorites with two ongoing promos: the Payday Delivery Trio and Build-Your-Own Fried Chicken Sandwich. Available on the usual 15th and 30th payday weekends, Payday Delivery Trio is an exclusive delivery deal featuring Max’s bestselling Sarap-To-The-Bones Regular Whole Fried Chicken and signature Spicy Tofu for P1,099. The bundle also includes the customer’s choice of Spicy Gambas or Camaron Rebosado. Then there are Build-Your-Own Fried Chicken Sandwiches: all the fixings you need to make four sandwiches at P839 for takeout and P923 for delivery. It includes Max’s chicken thigh fillets, buttery sesame brioche buns, pickled cucumber slices, shredded cabbage, Max’s house sauce, and mayo-garlic sauce. Each “Sarap-In-A-Box” also comes with a side of sweet potato fries. Order at https://delivery.maxschicken.com/ or call 888-79000 (for Metro Manila only).

Nvidia unveils new graphics chips to fend off AMD, consoles

NVIDIA CORP. said its new graphics chips will double the performance of their predecessors, offering gamers more realistic images at the speed they demand.

The new Ampere range is the second by Nvidia that uses ray-tracing technology to simulate how light interacts with virtual objects in video games and other computer graphics.

The new top-of-the-line GeForce RTX 3090 will go on sale for $1,499 and head a list of graphics cards that start at $499, Chief Executive Officer Jensen Huang said in a video briefing from his kitchen at home in Silicon Valley. Wearing his signature leather jacket, the executive unveiled the product by taking it out of an oven.

Ray tracing has taken a while to catch on in the video game industry, but Nvidia said hundreds of games use the approach, or will take advantage of it soon. While the technology makes images more lifelike, it requires a lot more computing power, Huang said. That has slowed the frame rate, or how fast images are updated in video games. The new Ampere design will address this, the CEO added.

Nvidia is trying to stay ahead of renewed challenges from Advanced Micro Devices Inc. and Intel Corp., while keeping PC-gaming competitive with new consoles from Microsoft Corp. and Sony Corp. later this year.

In its most recent quarter, Nvidia had games-related sales of $1.65 billion, up 26% from a year earlier. It’s predicting a similar expansion this quarter. PC gaming has become a widespread pastime and billion-dollar sport, creating a market with millions of consumers who will pay more for one Nvidia component than most people will spend for a whole computer.

As the largest maker of graphics chips, Nvidia has ridden this wave of growth, while expanding into other markets, such as data center processors. That’s fueled a surge in its stock. Nvidia shares ended 2010 at just over $15 and closed at $534.98 in New York on Monday.

The top-end Ampere product will have 28 billion transistors and the chips will be manufactured by Samsung Electronics Co. using its 8-nanometer process. Nvidia remains a Taiwan Semiconductor Manufacturing Co. customer for its outsourced production as well, executives said. — Bloomberg

Branches to serve as alternative office spaces for bank employees amid pandemic

LONDON/FRANKFURT — The COVID-19 pandemic has accelerated the shift to online banking in Europe, but it has also given some suburban branches an unexpected new purpose — as alternative office spaces for staff reluctant to commute to big HQs in city centers.

Lenders have been slowly cutting the number of often unprofitable branches for years, but opposition from unions and politicians over leaving people without access to a physical outlet meant many were unable to cut on the scale they wanted.

Some are now looking to speed up closures to cut costs and better weather the crisis, including Credit Suisse and Commerzbank.

But others are changing tack. They are looking to take advantage of part of their networks of physical outposts to help adapt their businesses to the new reality.

“Banks will try to change them rather than just closing a huge number of unprofitable branches,” said Daniel Dawson, an associate at banking research firm RBR.

In Britain, Virgin Money said it was identifying branches where office staff who live locally could work rather than travelling into city centre offices, while Santander’s UK unit said it was exploring a similar approach.

Lloyds, the UK’s biggest domestic bank, said it would launch “experiments” to test “how, where and when” its more than 60,000 employees could work from October.

“There’s a lot of conversations (within banks) about wellbeing, particularly in the winter months. The branch network can play a really vital role if it’s a safer environment to commute to,” said Sarah-Jane Osborne, a partner at property consultancy Arcadis, who has been advising banks.

“I think COVID-19 presents a new lease of life for branches specifically,” said John Cronin, banking analyst at Goodbody, who said he knew of several British banks considering allowing office staff to work from branches.

In Britain, banks have disclosed plans to close around 265 branches so far this year, according to data from consumer group, which, well short of the peak of 868 in 2017.

The COVID-19 crisis is also accelerating some banks’ plans to remodel their branches.

RBR’s Mr. Dawson predicts, for example, that other lenders could follow the example of TSB, part of Spanish bank Sabadell, in phasing out lower-grade frontline positions, and look instead to bring in more advisory services.

“Doing less basic transactions allows branch staff to concentrate on other things like advice and sales which are more profitable for the banks,” said Mr. Dawson, adding banks could roll out more automated or video services that allow customers to withdraw large amounts of cash or get a replacement debit card.

In Germany, regional lender Volksbank Stuttgart is now planning to repurpose eight — about a tenth — of its branches, with half offering only advisory services, and the others becoming self-service centres without any staff.

Oldenburgische Landesbank in northern German has accelerated plans to bundle customer support services into larger locations, while transforming smaller branches into self-service facilities or closing them.

“The coronavirus pandemic has affected the timing of the conversion for a few branches,” said Svenja-Marie Gnida, who sits on the bank’s supervisory board.

In September, the bank is opening a new adviser center in Oldenburg that will house several hundred staff for video, telephone, app and online services.

André Hasken of ZEB Consulting said the pandemic had focused lenders’ minds on how to squeeze the most business out of branches.

“Banks are basically asking themselves how they want to design the branch of the future,” he added. — Reuters

San Miguel to hire OFWs for Bulacan airport

San Miguel Corp. seeks to hire displaced locals and returning overseas Filipino workers (OFWs) for the construction of its P734-billion airport project in Bulacan.

Sixty former residents of Taliptip village in Bulacan who were removed from their homes to accommodate the airport will be prioritized, the company said in an e-mailed statement on Wednesday.

San Miguel is coordinating with the government to design courses that would suit the airport’s construction needs.

The airport is expected to generate “hundreds of thousands” of jobs in the next two years when construction work begins, San Miguel President and Chief Operating Officer Ramon S. Ang said in the statement.

Aside from hiring displaced residents, the company would also tap returning migrant Filipinos who lost their jobs amid a global coronavirus pandemic.

“With this world-class airport project, those who will opt to stay home will no longer be separated from families and will have a viable option,” Mr. Ang said.

San Miguel is looking to build an “aerotropolis” on a 2,400-hectare land in Bulacan that will have four parallel runways, eight taxiways and three passenger terminal buildings.

It will be an alternative to the main Manila gateway in Pasay City, the Ninoy Aquino International Airport, which has been running at overcapacity for years.

San Miguel posted a P7.59 billion net loss in the first half after earning P13.23 billion a year earlier, as its fuel unit became unprofitable amid volatile crude prices during the pandemic.

San Miguel shares gained 1.3% or P1.30 to P101.60 each at the close of trading Wednesday. — Denise A. Valdez

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