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Yields on BSP’s term deposits inch down on inflation outlook

YIELDS ON term deposits offered by the Bangko Sentral ng Pilipinas (BSP) on Wednesday slipped on expectations of faster inflation in November.

Total bids for the central bank’s term deposit facility (TDF) amounted to P608.416 billion on Wednesday, surpassing the P480 billion up for grabs but lower than the P602.03 billion in demand seen in the previous week.

Broken down, tenders for the seven-day deposits reached P208.985 billion, above P180 billion up for grabs as well as the P193.53 billion in bids logged in last week’s auction.

Accepted rates fell within 1.615% to 1.78%, a lower range compared with the 1.62% to 1.8% band seen on Nov. 25. This caused the average rate of the one-week papers to settle at 1.7292%, inching down by 1.87 basis points (bps) from the 1.7479% recorded a week ago.

For the 14-day term deposits, demand totaled P399.431 billion, higher than the P300 billion auctioned off yesterday but failing to beat the P408.5 billion in bids seen in the previous auction, which was for a P290-billion offering.

Banks asked for yields ranging from 1.625% to 1.7625%, declining from the 1.64% to 1.7925% margin seen a week ago. With this, the two-week paper’s average rate stood at 1.7261%, slipping by 0.65 bp from the 1.7326% seen in the previous week’s auction.

The central bank did not offer the 28-day term deposits for the eighth straight week. This follows the start of the central bank’s weekly auctions of its own bills with the same tenor.

Both the TDF and the BSP’s securities are part of tools used by the central bank to mop up excess liquidity in the financial system and to better guide market interest rates.

“The TDF auction results indicate increased preference among market participants for the shorter tenor, possible in view of the holiday season,” BSP Deputy Governor Francisco G. Dakila, Jr. said in a statement.

The slightly lower TDF yields came ahead of the November inflation data which is expected to be quicker than the preceding month’s print, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

The headline inflation rate in November likely quickened as a recent spate of typhoons pushed the prices of food and agricultural products higher, economists said.

A BusinessWorld poll of 13 analysts conducted last week yielded a median estimate of 2.7%, near the low end of the 2.4-3.2% forecast range of the BSP and well within the 2-4% target for the year.

If realized, the median estimate will be faster than the 2.5% logged in October and the 1.3% seen in November 2019.

The central bank expects inflation to average 2.4% this year. The consumer price index rose 2.5% as of October year to date.

The Philippine Statistics Authority will report November inflation data on Friday, Dec. 4. — L.W.T. Noble

NOW Corp., Nokia ink deal on 5G collaboration

NOW CORP. on Wednesday said it signed a memorandum of understanding with Nokia Solutions and Networks Philippines, Inc. and NOW Telecom Company, Inc. for its network expansion plan.

In a statement, the listed firm said the collaboration among the three companies would focus on the expansion of its “current broadband telecom network by rolling out a 5G standalone network in the Philippine market.”

“Joint development projects may also be undertaken under the scope of the memorandum of understanding, which also provides a strategic direction for all parties leading to a commercial framework agreement,” it added.

Mel V. Velarde, founder and chairman of the NOW Group of Companies, said: “This NOW-Nokia agreement on 5G collaboration shall bring about the multi-gigabit broadband Internet era in the Philippine Telecom, Media and Technology markets”

“NOW’s strategy is clear: to expand its current guaranteed service to high-end markets via 5G Fixed Wireless Access and extend this compelling customer experience to consumers via 5G mobile cellular broadband service. Having no legacy networks, NOW’s standalone 5G network shall rise above competition. With Nokia as our technology partner, we are confident NOW and its customers would succeed,” he added.

In an earlier disclosure, Now Corp. said it had partnered with Vietnam’s Viettel Business Solutions Corp. to offer information and communications technology (ICT) products and services in the country.

NOW Corp. affiliate Now Telecom Co., Inc. announced in September that the National Telecommunications Commission had “extended” its provisional authority to install, operate, and maintain a nationwide mobile telecommunications system. — Arjay L. Balinbin

Qualcomm taps Samsung to make new flagship 5G smartphone chips

QUALCOMM, INC. on Tuesday announced a new flagship smartphone chip that will feature enhanced gaming and photo abilities and will be manufactured by Samsung Electronics Co. Ltd.’s chipmaking division.

Called the Snapdragon 888, the 5G chip represents the top of Qualcomm’s lineup for mobile phone processors. Smartphones containing the chip are due to be launched in the first quarter of next year.

High-end Android phones from Xiaomi Corp. and LG Electronics, Inc. are expected to sport the chip.

It is the first time Samsung, which competes fiercely with Taiwan Semiconductor Manufacturing Co. (TSMC), has made Qualcomm’s flagship chip on its new 5-nanometer process for smartphones. The South Korean firm won a contract for 5G chips from Qualcomm earlier this year.

Apple, Inc’s iPhones also use a chip made with 5-nanometer technology, but analysts believe the iPhone chips are made by TSMC.

This year’s chip focused on improving common tasks, said Alex Katouzian, Qualcomm’s senior vice president of mobile, compute and infrastructure.

The new chip can process 120 high-resolution photos per second, while a new artificial intelligence processor on the chip will let software select the best five shots and combine them into one final image.

Katouzian said the Snapdragon 888 orders will not be split between Samsung and TSMC, adding that Samsung had been the best fit for this chip in terms of design needs and timelines.

“I think it would be very bad if you had to split your resources between two different foundries” for a given chip, he said. “We do so much work with the process technology vendor that we become very, very certain about what we want to use a couple of years before the chip comes out.” — Reuters

Easy to prepare Italian fare

WITH Christmas gatherings having to be reduced in size in compliance with social distancing and other health protocols, the usual Christmas fare may be too complicated to make. But since this year has been extraordinary in so many ways, why not try something different?

“Why not go Italian?” asks Chef Jade Christopher Lee of the De La Salle-College of Saint

Benilde. Lee suggests the hearty flavors of Chicken and Sausage Ragu and the decadence of Christmas Semifreddo this season of sharing.

“As one of the most recognized, popular and favorite cuisines in the world, it guarantees a smile for everyone. The ingredients can be easily acquired while supporting local farmers and small entrepreneurs,” he said.

CHICKEN AND SAUSAGE RAGU

(Serves four to six)

Ingredients:

Salt

200 gm fresh pork sausage, removed from casing

1 chopped red onion

2 chopped garlic cloves

1 tsp paprika

80 gm chopped sundried tomatoes

600 gm skinless and boneless chicken thighs

400 gm canned chopped tomatoes

100 ml stock

2 tbsp calamansi juice

500 gm dried pasta (penne, rigatoni, fusilli, etc.)

Procedure:

1. If using dried sundried tomatoes, soak them in warm water for a few minutes. If using sundried tomatoes in oil, drain the oil.

2. Fry the sausage over medium heat in a saucepan until the fat renders and the meat browns.

3. Add the onion and garlic and fry for three to five minutes.

4. Stir in the sundried tomatoes and paprika.

5. Add chicken to the pan and fry for two to three minutes on each side to brown.

6. Add chopped tomatoes and stock, lower the heat, cover, and cook for 20 to 30 minutes until the chicken starts to fall apart and the sauce becomes thick.

7. Add calamansi juice and adjust seasoning with salt.

8. Boil a pot of water, add salt, and cook the pasta until al dente or as prescribed by the packaging. Drain the pasta once cooked.

9. Add cooked pasta to the sauce, mix, and serve.

CHRISTMAS SEMIFREDDO

(Serves four to six)

Ingredients:

4 egg yolks

2 egg whites

75 gm sugar

250 gm cream cheese

100 gm assorted and chopped candied fruit

250 ml cream

15 ml cherry liqueur (optional)

6 to 8 slices fruit cake or panettone (Italian fruit cake)

Procedure:

1. Whisk yolks and sugar in a bowl over a pan of simmering water until the mixture becomes thick and creamy. Set aside and let it cool for about 10 minutes.

2. Beat cream cheese and cream together then stir into the yolk mixture.

3. Whisk egg whites until soft peaks and fold into the cream/yolk mixture and the candied fruit.

4. Line a loaf pan with cling film. Brush liqueur over the fruit cake slices.

5. Line the bottom of the loaf pan with fruitcake slices and pour half of the cream mixture, add another layer of fruitcake, the rest of the cream mixture, and finally the last layer of fruit cake.

6. Freeze for at least three to five hours. Remove from the freezer, unmold on a serving platter, and serve immediately.

Gov’t makes full award of three-year bond offer

BoT treasury
THE TREASURY made a full award of the reissued three-year bonds. — BW FILE PHOTO

THE GOVERNMENT made a full award of the reissued three-year Treasury bonds (T-bonds) it offered on Wednesday as its yield declined following the surprise rate cut of the central bank and amid continued uncertainty in the economic environment.

The Bureau of the Treasury (BTr) borrowed P30 billion as planned via the reissued three-year bonds as the offer was more than twice oversubscribed, with tenders totaling P68.516 billion.

The three-year T-bonds, which have a remaining life of two years and nine months and carry a coupon rate of 3.625%, fetched an average rate of 2.169% on Wednesday, declining by 5.5 basis points (bps) from the 2.224% quoted in the Nov. 4 auction.

National Treasurer Rosalia V. de Leon told reporters in a Viber message after the auction that the yield on the three-year tenor declined as investors demand for the belly of the curve remains strong.

ING Bank N.V. Manila Senior Economist Nicholas Antonio T. Mapa, meanwhile, said that the recent reduction in benchmark rates by the Bangko Sentral ng Pilipinas (BSP) also affected yesterday’s auction result.

“The BTr was able to award at lower rates after BSP’s recent policy rate cut still fed into the market and with investors snatching up three-year paper given relatively attractive rates for the medium-dated bonds,” Mr. Mapa said in an e-mail.

The BSP unexpectedly cut benchmark rates to new record lows at its Nov. 19 meeting, the fifth reduction this year, citing the continued uncertainty caused by a fresh surge in coronavirus cases globally and the impact of recent typhoons on the struggling economy.

The Monetary Board trimmed the rates on the BSP’s overnight reverse repurchase, lending, and deposit facilities by 25 bps to 2%, 2.5%, and 1.5%, respectively.

The latest easing move followed a “prudent pause” by the central bank since its June meeting. The central bank has already cumulatively lowered interest rates by 200 bps this year.

At that meeting, the central bank also upgraded its inflation forecast this year to 2.4% from the 2.3% it gave in the October review.

On the other hand, the inflation outlook for 2021 and 2022 were lowered to 2.7% (from 2.8%) and 2.9% (from 3%), respectively, due to the slower-than-expected pickup in domestic activity, the decline in global crude oil prices, and the strengthening of the peso.

Meanwhile, a trader said the yield on the three-year bonds decreased yesterday as investors are still worried about the country’s prospects due to the ongoing coronavirus pandemic.

“With liquidity nowhere to go, market players continued to park their funds at bay amid the prevailing uncertainties surrounding the global pandemic. Clearly, investors’ preference is still at short-term placements and this is expected to persist until any positive developments come to light,” the trader said via Viber.

The Philippine economy remained in recession in the third quarter as gross domestic product (GDP) contracted by 11.5%, following the record 16.9% decline in the three months ended June.

This brought the GDP performance for the first nine months to a 10% contraction. The government expects the economy to shrink by 4.5-6.6% this year.

The Treasury plans to borrow P120 billion from domestic lenders in December: P60 billion in weekly Treasury bill auctions and P60 billion in fortnightly T-bond offerings.

The Treasury is also offering another tranche of Premyo bonds to raise at least P3 billion. The offer period is set to run from Nov. 11 to Dec. 18.

The government wants to raise around P3 trillion this year from local and foreign lenders to help fund its budget deficit, which is expected to hit 9.6% of the country’s GDP. — KKTJ

Lemi to include MSMEs in its digital platform

TECHNOLOGY company Lemi plans to expand its digital platform to include micro, small, and medium enterprises (MSMEs).

In a statement on Tuesday, Lemi Founder Cheryl Ng said fast-tracking digitalization is the first step in helping small businesses survive the financial challenges posed by the effects of the coronavirus disease 2019 (COVID-19) pandemic.

“We developed a suite of digital solutions specifically to help them generate more revenue and connect with their customers during this critical period,” Ms. Ng said.

Ms. Ng said the company targeted the Philippines due to the number of MSMEs that can benefit from their digital solutions.

“The high digital literacy and smartphone usage among Filipinos is also encouraging — this digital maturity means that MSMEs who make the shift will be able to reap the benefits of digitalization very quickly,” Ms. Ng said.

The company said its lineup of digital solutions is seen to support current government initiatives to increase digital adoption among MSMEs and assist them in finding new markets for their products.

Lemi added that its digital solutions will be offered in one package that will simplify the creation of new revenue streams for businesses.

One of the tech company’s digital solutions is a gamified loyalty program with automated rewards that aims to improve customer engagement and retention.

“Lemi’s offering has no upfront charge and features an intuitive user experience on any mobile device, it helps MSMEs enter the loyalty program space easily and makes them a more attractive option for consumers,” it said.

Other tools that businesses can obtain with Lemi’s digital platform include an advanced customer relationship management system that enables them to send re-engagement gifts to their customers; a custom microsite optimized for search engines (SEO) and cross-platform use; digitized coupon creation, selling and tracking system with customer success analytics; and integrated secure payment systems.

“Customers who wish to further enhance their services will be able to upgrade their plan to Silver or Gold status and unlock more advanced functions, in-depth analytics and exclusive invitations to industry events,” it said.

“To help reduce the burden of cost, Lemi does not charge for setup. It earns revenue on a commission model based on economies of scale — it only becomes profitable with mass adoption,” it added.

Moving forward, Lemi said it aims to onboard 1,000 partner MSMEs in the country and projects mid-double-digit month on month growth by mid-2021.

The company added that it plans to expand its network and bring its digital offerings to MSMEs across Southeast Asia in the future. — Revin Mikhael D. Ochave

China drafts rules on mobile apps’ collection of personal data

CHINA unveiled draft guidelines on Tuesday seeking to limit the scope of mobile apps’ collection of personal data in the latest attempt to curb the sprawling technology sector.

The set of draft rules published by the Cyberspace Administration of China covers 38 types of apps from online shopping and instant messaging to ride-hailing and bike sharing.

China has increased scrutiny of its technology sector in recent weeks, last month drafting anti-monopoly rules for tech firms.

It has also expressed concerns about data protection and consumer rights, while authorities have on a number of occasions ordered apps to be suspended for mishandling user information.

“In recent years, mobile internet applications have been widely used and have played an important role in promoting economic and social development and serving people’s livelihoods,” the cyber administration said in a statement.

“At the same time, it is common for apps to collect… personal information beyond their scope, and users cannot install and use them if they refuse to agree.”

For ride-hailing apps, the draft rules regard a user’s phone number, or other personal identity information, as well as their location and destination, as falling within the scope of required information.

Online payment apps, meanwhile, need the registered user’s phone number or other ID information, as well as the bank card numbers of both payer and payee, according to the draft rules, which are open to public feedback until Dec. 16. — Reuters

Okada Manila unveils 30-foot Christmas tree

OKADA MANILA unveiled its official Christmas tree on Nov. 22 at the property’s Pearl Lobby. The 30-foot Christmas tree is decorated with chiffon fabric, assorted gold and copper ornaments, a variety of mirror balls with crystal beads, and silver glitter palm leaves. It has over 22,500 LED baubles. The glittery tree is the centerpiece of “Sparkles of Hope,” the integrated resort’s property-wide Christmas celebration that aims to inspire hope, goodwill, and optimism in these challenging times. The tree lighting ceremony was led by Okada Manila Senior Vice-President for Hotel Operations Ivaylo Ivanov. It was followed by world-class performances by the Okada Manila Entertainment Group and Jona, who serenaded viewers at Cove Manila. The event was live streamed via Facebook.

Airbnb aims for $35-billion valuation in long-awaited IPO

WWW.AIRBNB.COM

AIRBNB, INC. said on Tuesday it is aiming for a valuation of up to $34.8 billion in its initial public offering (IPO), in what would cap a stunning recovery in its fortunes after the US home rental firm’s business was heavily damaged by the COVID-19 pandemic earlier this year.

In a regulatory filing, Airbnb set a target price range of between $44 and $50 apiece to sell 51.9 million shares, which would pull in $2.6 billion. Airbnb could end up selling $2.85 billion at the upper end of the range.

Of the shares being sold, Airbnb founders Brian Chesky, Joe Gebbia, and Nathan Blecharczyk will together sell nearly $100 million worth of shares in the IPO launch.

Airbnb struggled in the immediate aftermath of the pandemic as travel came to a grinding halt. It had to lay off a quarter of its workforce and seek $2 billion in emergency funding from investors, including private equity firms Silver Lake and Sixth Street Partners.

But as lockdowns eased, more travelers opted to book homes instead of hotels, helping Airbnb post a surprise profit for the third quarter. The San Francisco-based firm also gained from increased interest in renting homes away from major cities.

“Looking at Airbnb, there’s a lot to like. The company’s third quarter has shown they’ve bounced back better than a lot of their travel rivals,” said Matthew Kennedy, senior strategist at IPO research firm Renaissance Capital.

At the top of Airbnb’s target range, the IPO will give Airbnb a fully diluted valuation, which includes securities such as options and restricted stock units, of $34.8 billion. This is nearly double the $18 billion Airbnb was worth in an April private fundraising round and above the $31 billion in its last pre-COVID-19 private fundraising in 2017.

Airbnb’s market capitalization at $50 per share would total $29.8 billion. Chesky’s stake would be valued at about $3.8 billion, while those of Gebbia and Blecharczyk would be worth about $3.5 billion each. Sequoia Capital, which first invested in Airbnb in 2009, would have a stake worth more than $4 billion.

Airbnb made its IPO registration public earlier this month. Reuters was the first to report in October that the startup was aiming to raise around $3 billion in its IPO that could value it at more than $30 billion.

Airbnb plans to list on Dec. 10 under the symbol “ABNB” on Nasdaq.

LONG-AWAITED IPO
Airbnb’s stock market debut will be one of the largest and most anticipated US IPOs of 2020, which has already been a bumper year for flotations. Record label Warner Music Group , data analytics firm Palantir Technologies and data warehouse company Snowflake, Inc. have all gone public in the past few months.

Airbnb was launched by Chesky and Gebbia in 2008 as a website to take bookings for rooms during conferences, including the Democratic National Convention that year in Denver.

It has since expanded listings to include apartments, houses and vacation rentals, allowing millions of ordinary homeowners to make money by renting their flats and houses while on their own holidays.

Airbnb achieved “unicorn” status in 2011, with listed properties in 13,000 cities across more than 180 countries at the time, after being valued at more than $1 billion in a funding round led by Andreessen Horowitz.

Some of Airbnb’s other investors include Hollywood actor Ashton Kutcher, buyout firms General Atlantic, TPG, Hillhouse Capital and investment management firms Vanguard Group and Fidelity Investments.

Morgan Stanley and Goldman Sachs are the lead underwriters for the IPO. — Reuters

Facebook-backed digital coin Libra renamed Diem to signify independence in quest for regulatory OK

LONDON — Facebook-backed cryptocurrency Libra has been rebranded “Diem” in a renewed effort to gain regulatory approval by stressing the project’s independence.

Plans for Libra, first floated by Facebook last year, were slimmed-down in April after regulators and central banks raised concerns it could upend financial stability, erode control over monetary policy and threaten privacy.

Tuesday’s name switch is part of a move to emphasize a simpler, revamped structure, Stuart Levey, chief executive officer of the Geneva-based Diem Association behind the planned digital coin, said.

“The original name was tied to an early iteration of the project that received a difficult reception from regulators. We have dramatically changed that proposition,” Mr. Levey told Reuters.

Diem, which means “day” in Latin, now aims to initially launch a single dollar-backed digital coin, he added.

He declined to comment on timing for the launch, which the Financial Times reported last week could be as early as January, saying only that it would only go ahead after approval by the Swiss markets watchdog.

Facebook, which changed the name of its payments unit Calibra to Novi Financial in May, remains one of 27 members of the Diem Association, formerly the Libra Association. Novi’s head, David Marcus, is one of Diem’s five board members.

“They are a critically important member of the association,” said Mr. Levey of Facebook’s continuing involvement.

“We are not trying to cut all ties, by any stretch. It (the name change) is to signify that the association is operating autonomously and independently,” he added.

Diem aims to set itself apart from others by its focus on aspects of concern to regulators and western governments, including sanction controls and financial crime, Mr. Levey said.

The project has said it would develop policies on anti-money laundering, terrorist financing and sanctions compliance and has ditched earlier plans to allow anyone to join its network. — Reuters

PAREB pushes for active participation of brokers in flagging suspicious transactions

THE real estate industry is pushing for a more active participation in detecting suspicious transactions as the government moves to strengthen the Anti-Money Laundering Act (AMLA).

The Philippine Association of Real Estate Boards (PAREB), Inc. proposed that all contract documents on the sale of real estate, exchange, mortgage, lease or joint ventures should be sealed and signed by a registered broker.

“As real estate professionals, we are trained in real estate documentation and processes, brokers can easily detect any suspicious transactions,” PAREB President Samuel O. Lao said in a statement on Wednesday.

He noted that real estate brokers should also include their professional identification card and its date of expiration.

Senate Bills No. 1412 and 1545, which will amend Republic Act No. 9160 or the AMLA, proposed to include real estate developers and brokers among the covered persons and single cash transactions amounting to more than P1 million among the covered transactions that must be reported to the Anti-Money Laundering Council (AMLC).

Mr. Lao had proposed to increase the cap on single cash transactions to P3 million or higher, saying the current proposal will affect the promotion of real estate investments.

“PAREB supports any amendments that will help in raising the reputational risk of our country,” Mr. Lao said. “However, said measure should also promote the growth of real estate market and enhance professionalization of real estate practitioners.”

The Organization of Socialized and Economic Housing Developers of the Philippines, Inc. (OSHDP) said in a Senate hearing in October that this provision will likely “over-regulate” the industry which has more than 11,000 real estate salespersons and 31,000 brokers at present.

In that hearing, Senators Grace S. Poe-Llamanzares, who chairs the Banks and Financial Intermediaries committee, and Senate Minority Leader Franklin M. Drilon both agreed to raise the threshold to P3 million.

The panel has yet to bring the measure for plenary deliberation, while its counterpart, House Bill No. 7904, secured approval on final reading on Tuesday with 231 affirmative votes, seven negatives and three abstentions.

The government has until February to enact and implement changes in the AMLA in line with the Financial Action Task Force’s (FATF) recommendation.

Failure to amend the law will put the Philippines on the FATF’s grey list and will be identified as a high-risk jurisdiction for money laundering and terrorist financing. — Charmaine A. Tadalan

Dining In/Out (12/03/20)

Sekaya gifts go back to nature

LIMITED edition Sekaya gift packs help reforestation efforts. The Prescribing Nature Gift Packs contain high-quality plant-based products that are backed by science and tested by tradition and at the same time, help the Cordillera Conservation Trust, an organization committed to providing sustainable solutions to environmental problems. For every purchase of any of the Sekaya Prescribing Nature Gift Packs, one Philippine endemic tree seedling (either a Benguet pine, dipterocarp, or mangrove) will be planted to contribute to the organization’s reforestation campaign. The trees are also reflected in the packaging, illustrated by Cynthia Bauzon-Arre, a botanical artist and conservation advocate. The Raw Actives Starter Pack (P900) features nutrient-dense superfoods served in ready-to-mix powder format so they’re easy to incorporate in drinks and meals. The gift pack includes two single-serve sachets each of Sekaya Raw Actives Vegan Protein, Maca Factor, and Barley Green and one single-serve sachet each of Daily Greens and Powerbeet. It also has a 500 ml stainless steel shaker bottle with a metal ball. The Cleanse & Detox Pack (P1,750) contains medicinal botanic infusions meant to clear the skin of impurities and aid in strengthening the body’s daily detoxification action. The gift pack contains both Sekaya Botanic Infusions Skin Cleanse blend and Gentle Detox blend, and a three-piece 600 ml teapot with infuser and wooden cover and four teacups. The Immune Travel Pack (P1,000) contains the Sekaya Botanic Infusion Immune Brew in convenient and compostable tea bags stored in a can, and a four-piece borosilicate glass travel tea infuser for two with a case. These gift packs are available at @sekayaph on Facebook and Instagram, via SMS or Viber at 0917-5SEKAYA (735292), or at the S Sentials store on Lazada for Christmas. A brand under Synnovate Pharma Corp., the natural products company of Unilab, Sekaya offers functional plant-based solutions that are scientifically studied and processed within pharma-grade facilities to ensure safety and purity. To know more about Sekaya, visit https://www.sekaya.com.ph/.

Fairmont Hotels & Resorts’ sustainable Christmas recipes

THIS year Fairmont Hotels & Resorts has expanded its sustainability practices beyond the walls of its hotels to inspire a greener festive season in homes around the world. Chefs from St. Andrews to Singapore, Hawaii to the Maldives, have shared their passion for produce and conscious cooking with 18 special recipes for the festive season and beyond. From leftover turkey noodle soup to goose and red cabbage Strudel; gingerbread cookies to fruit pulp crackers, these recipes will delight both the taste buds and the conscience. For the full recipes visit: http://www.fairmontmoments.com/sustainable-christmas-recipes. For three decades, Fairmont Hotels & Resorts has been committed to proactively protecting local environments through its award-winning Fairmont Sustainability Partnership. Fairmont’s approach combines leading operational efforts aimed at reducing overall impact on the planet with forward-thinking and innovative programs promoting responsible tourism.  Fairmont’s culinary teams are highly committed to creating sustainable dishes that minimize food waste and use local produce and ingredients to their fullest to enhance the flavors.

Beefeater’s strawberry-flavored gin

BEEFEATER Gin has released the new Beefeater Pink, a delicate and refreshing strawberry-flavored gin. Beefeater Pink brings a delicate and fruity kick to an award-winning gin by fusing a natural strawberry flavor to the traditional hand-picked citrus and juniper botanicals. Have Beefeater Pink on its own or as a strawberry-flavored twist on a favorite gin-based cocktail, such as a strawberry B&T (Beefeater and tonic). The transparent bottle design features a graffiti-style logo inspired by stencil art and shows off the gin’s vibrant pink hue. A limited-edition Beefeater Pink VAP that comes with a free gin goblet is available exclusively at all S&R outlets for P699. Beefeater Pink is also available in leading supermarkets.

Okada’s holiday buffet, Christmas goodies

CELEBRATE Christmas with Okada’s Medley Buffet. On Dec. 24, Christmas Eve dinner is P3,588 for adults and P1,588 for children. Families and friends can also enjoy Christmas lunch on Dec. 25 for P2,700 for adults and P1,350 for kids. Guests can have a special New Year’s lunch at the Medley Buffet on Jan. 1, noon to 3 p.m., for P2,700 (adults) and P1,350 (children). All prices are net. Meanwhile, those looking for a sweet Christmas treat can drop by Okada Manila’s Lobby Lounge for gingerbread cookies, chocolate rusks, and festive madeleines. Filipino Christmas staples puto bumbong and bibingka are also now available until Jan. 1. For inquiries, call Okada Manila at 8888-0777, or visit www.okadamanila.com.

Century Park reopens Japanese restaurant

THE CENTURY Park Hotel reopened Century Tsukiji, the hotel’s Japanese food outlet, on Dec. 1, and is offering a number of treats and specials for the holidays. There is an Eat-All-You-Can Special featuring classic Japanese delicacies. Customize a meal by choosing from the following categories: appetizer (potato salad, kani mango salad, kani krunch maki, yasai itame, vegetable tempura and yasai salad), main course (ebi tempura, chicken teriyaki, tenderloin teppan, salmon belly teppan, pork tonkatsu, buta kakuni, chicken karaage and yakiniku), rice (steamed rice, mixed fried rice, vegetable fried rice and beef fried rice), soup (miso and corn miso), and dessert (tiramisu, matcha cake, Hokkaido cheese cake, vanilla ice cream and strawberry ice cream). At P999 net per head, the Eat-All-You-Can Special is available daily from 11 a.m. to 2:30 p.m. The holiday deal expands with additional dishes like salmon and tuna sashimi and ramen on Dec. 24, 25, 30, and 31 and Jan. 1 for P1,450 net. For ramen lovers, there is the Unlimited Ramen offering. Choose from among five versions: tonkotsu ramen, chashu negi miso ramen, niku shoyu ramen, tori age yasai ramen and niku to uminosachi yaki ramen. These  are best paired with sushi such as shake chizu, kani kyarameru, california maki, kappa maki and kampyo maki. The Unlimited Ramen offer is available for as low as P699 net. Protocols such as temperature check, disinfection, filling out of health declaration form upon entrance, social distancing, one-way policy and wearing of masks will be enforced. For more information, call 8528-5855 or 0917-633-2497, via SMS or Viber.

All-you-can-eat dimsum at New World’s Jasmine

NEW World Makati Hotel’s Chinese dining destination, Jasmine, offers a signature array of all-you-can-eat dim sum dishes for lunch and dinner on Saturdays as well as lunch on Sundays for P1,088 nett per person. Guests can enjoy favorites such as barbecued Honey roasted pork, steamed Har gao shrimp dumplings, Xiao long bao  Shanghainese pork dumplings, Shao mai pork and crab meat dumplings, and Barbecued pork buns, as well as Fried wonton dumplings, Seafood taro puffs, Barbecued pork puffs, and much more. Some of the restaurant’s best-selling main courses are also included in the offer, such as the Deep-fried sole fillet with salted egg, Wok-fried Kong Pao chicken and cashew nuts, sweet and sour pork, and Braised bean curd with black mushrooms. A selection of rice, noodle, and congee dishes are likewise available such as Fried rice Yeung chow-style, Pork and century egg congee, and Braised e-fu noodles with vegetables. Guests can opt to add more of Jasmine’s signature dishes to complete the bountiful meal. Dishes such as Crispy pork belly (P240), Soy chicken (P240), Pan-fried beef tenderloin (P280), and Sliced beef with vegetables in oyster sauce (P280) are offered at an add-on price.

Sheraton Manila offers Festive Spreads To-Go

ENJOY a wide-range of sumptuous spreads made for home celebrations and intimate parties through Sheraton Manila’s Festive Spreads To-Go. Choose from roast turkey, smoked leg of ham, baked salmon, roast rib-eye, or Spanish pork belly, and have a bounty of sides good to be shared by eight to 15 persons. For reservations or orders, call 7902-1808 or 0917-822-3213. Meanwhile, indulge in a new buffet experience at the hotel’s S Kitchen featuring a surf and turf spread. As bountiful as before, the buffet is made more personalized with plated service. And diners can even get to catch a lobster on weekends. S Kitchen is open daily for lunch and dinner (Monday to Thursday, P2,100; Friday to Sunday, P2,350). For reservations, call 7902-1800. The hotel also has offsite party packages so one can celebrate in one’s office or at the comfort of one’s home. Choose from the hotel’s festive selection of intimate party packages inclusive of delivery and live online entertainment. For details call 7902-1800.

Jollibee launches Virtual Parties

WITH the current health situation, most parties have been limited to one’s household with the usual online gathering of family and friends. So now Jollibee enables everyone to get the party experience with the launch of the Jollibee Virtual Party, a fully online celebration package. The Jollibee Virtual party includes Jollibee meals that are delivered straight to guests. For party decor, customers can choose from available party themes like the Jollitown Theme Park or Fairytale Land. The easy to set up party decors will be delivered to their homes. Games are covered too, with a one-hour program complete with interactive games, sing and dance-along activities and surprises facilitated by a professional party host. Of course, there’s also a special gift for the celebrant — a  Jollibee doll. To avail of the Jollibee Virtual Party experience, customers can first choose their party size. A celebration for five homes, which is good for 15 persons, is priced at P11,500. A party for 10 homes with a total of 30 guests is offered at P16,500, while a celebration for 20 homes with 60 invitees combined is packaged at P26,500. Customers can then choose the Jollibee meals to share with their guests. Customers can also customize their party bundle to their needs once they have chosen the initial package. Fun giveaways can also be sent to guests. They can choose to give out a Jolly Kiddie Meal toy, a Jollibee Doll, a Jollibee Funko POP! In Philippine Barong, a Jollibee Funko POP! on a Delivery Bike, or a Jollibee Hetty Funko POP! two-pack. For more info, visit Jollibee’s official Facebook page.

Foodpanda’s Merriest Deals promo

GET 20% off and more through foodpanda’s Merry Deals of the kumukutikuti-TAP Christmas weekly surprises. As an additional gift this Christmas, foodpanda will offer free delivery from select restaurants when the client uses the code PANDAMORNING from 7 a.m.-10 a.m. Customers can also get P77 off when they use the code PANDA77 for a minimum order of P299 from 7 p.m. to 7 a.m. For more information and updates about foodpanda’s Merry Deals and the kumukutikuti-TAP Christmas campaign, visit foodpanda’s Facebook, Twitter, and Instagram (@foodpanda_ph) account or look out for the pink tags on the foodpanda app.

Diageo launches positive drinking campaign

DIAGEO, a global leader in beverage alcohol, highlights its commitment to drinking in moderation with the release of “The Balance Challenge,” an augmented reality (AR) Instagram filter designed to encourage people to swap an alcoholic drink with water and raise money for WaterAid in the process. The challenge demonstrates the importance of balance, allowing users to balance virtual water vessels on some unusual parts of their bodies by matching a series of on-screen poses. To date, the challenge has seen bartenders and celebrities around the globe take part in the fun campaign, helping remind people over the festive period about the importance of drinking in moderation as part of a balanced lifestyle. All participants are encouraged to donate the cost of an alcoholic drink to international charity, WaterAid. To participate in #TheBalanceChallenge, click on the effects icon in the Instagram app and search for “TheBalanceChallenge.” People can donate the cost of an alcoholic drink (or more) to WaterAid through Instagram’s “donate” sticker.

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