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Over a cup of hope

PEOPLE say that coffee makes the world move, waking people up when they need to get out of bed. But sometimes one needs more than a shot of caffeine, one needs a bit of hope. And the opening of the new Nespresso boutique at the Podium may provide just that in a world that has effectively frozen.

Nespresso is the single-serve coffee subsidiary of Nestle. While the machines have been around since 1986, and have been found in hotels and restaurants since the early 2000s, they hit Filipino homes only in 2017, through Novateur Coffee Concepts Inc. It has since opened a boutique in Rockwell (operational again after the lockdown loosened), and opened a second one in the Ortigas Center’s Podium just last week.

The new boutique, at 58 sqm., features the work of Universal Design Studio, an award-winning architecture and interior design firm founded by Edward Barber and Jay Osgerby. The store highlights tabletops made from used coffee grounds and 100% sourced wood from reforestation programs. In partnership with Negrense Volunteers for Change (NVC), the store also showcases some wall tiles that demonstrate how Nespresso pods can be upcycled and transformed into high-value art pieces.

Patrick Pesengco, Managing Director of Novateur Coffee Concepts, pointed out how the  aluminum pods of Nespresso prove to be a symbol of the brand’s commitment to sustainability — even before it became an urgent trend. Single-serve coffee capsules, especially those made of plastic, are blamed for increasing plastic pollution. “From day one, [Nespresso’s pods were] made of aluminum, which costs much more,” Mr. Pesengco said during a webinar on Sept. 22, which showed the shop’s interiors. Aluminum can be melted and smelted again and again. As part of its program, Nespresso collects the used pods (either through in-store containers or through home or office pickups), and they have found a smelting partner who transforms the pods into ingots. According to Mr. Pesengco, the old pods have been transformed into automotive parts, among other things. Meanwhile, the coffee grounds can be, and some of them have been, distributed as fertilizer to local organic farms.

Despite the pandemic and doubts for the survival of many retailers, Mr. Pesengco sailed on to open a second coffee shop. “We were really having second thoughts during COVID [whether or not to open]. But we realized that we want to be hopeful. We Filipinos, we’re very hopeful and optimistic. We believe that the future would be better.  We opened this boutique because we believe that at the very least, it’s a small role that we want to play. Aside from hiring our coffee specialists, we do have a lot of allied partners. The logistics, the delivery. It’s just a symbol of hope within our company.”

Speaking about the space at The Podium, he noted that a lot of their neighboring stores have not opened yet. “Hopefully, other tenants, other retailers, would see that [with] Nespresso’s opening. ‘Maybe we have a chance to open as well’,” said Mr. Pesengco. He added, “Of course, we computed our finances, we’re not martyrs. We might not be able to get the returns that we wanted, but [it’s] enough to justify opening.”

In these times, a mundane cup of coffee (even if it’s an espresso that has somehow come to you in a pod) has become more special, a point Mr. Pesengco acknowledges. “For us, at Nespresso, it’s more than just coffee. It’s the start to your day, to make them realize that this day will come, and do well, whatever they face within the day.”

The Nespresso Boutique at The Podium is located at Level 2. For opening hours, visit www.nespresso.ph . — Joseph L. Garcia

DoubleDragon eyes 150% equity growth by 2030

By Denise A. Valdez, Senior Reporter

PROPERTY developer DoubleDragon Properties Corp. is targeting to expand its total equity by over 150% to P120 billion in the next decade through income growth and real estate investment trust (REIT) offerings.

In a virtual meeting with stockholders on Wednesday, DoubleDragon Chairman and CEO Edgar J. Sia II said the company is putting prime importance on total equity value as its focus is leasing and generating recurring income.

“[T]he overall strategic goal of DoubleDragon is to be able to grow its total equity from P47.86 billion today to increase to P120 billion by 2030,” Mr. Sia said.

“This P120 billion total equity goal will be enabled mainly by accumulation of net income, and from the multiple tranches of REIT listings of its leasable portfolio,” he added.

It is common for a listed real estate company to have a market capitalization valued higher than its total equity if its focus is recurring revenues from leasing, Mr. Sia said.

DoubleDragon’s market capitalization at present is P33.19 billion, against its total equity of P47.86 billion.

“Since DoubleDragon is focused on leasing and generating recurring income, it primarily holds perpetual ownership of prime land and buildings across the country… The total equity value of the company is very important, as the net value of DoubleDragon will be generally based on its total equity value,” Mr. Sia said.

To support this goal, the company has planned to do a series of REIT listings starting this year until 2025, covering about 200,000 square meters (sq. m.) of leasing assets every year at an estimated cap rate of 6%.

The first tranche involves 248,349 sq. m. of leasable space with an estimated consolidated value of P50.89 billion. It is expected to generate P16.97 billion, which DoubleDragon will use to build 450,000 sq. m. of new leasing space.

During Wednesday’s meeting, DoubleDragon Chief Investment Officer Marriana H. Yulo said the company is “in advanced preparations” for the filing of its first REIT listing.

DoubleDragon booked an attributable net income of P3.3 billion in the first half of 2020, growing more than double from last year’s P1.52 billion. Its revenues rose 45% to P8.11 billion, where recurring revenues account for 23%.

The company’s assets are composed of provincial retail leasing, office leasing, industrial leasing and hotels. Its target is to complete a leasable portfolio of 1.2 million sq. m. by 2022.

Shares in DoubleDragon at the stock exchange shed two centavos or 0.14% to close at P14 each on Wednesday.

Philippine Central Bank Disqualifies Bankers Linked to Wirecard

The Philippine central bank said it will ban from the industry former bank employees who allegedly falsified documents for German payments company Wirecard AG.

Bangko Sentral ng Pilipinas is adding the former bankers to a list of persons disqualified from becoming directors or officers at any supervised financial institution, it said in an email to Bloomberg on Wednesday.

Wirecard filed for bankruptcy in June after acknowledging that 1.9 billion euros ($2.2 billion) it had listed as assets didn’t exist, triggering an investigation that spans from Europe to Asia. BDO Unibank Inc. and Bank of the Philippine Islands have said rogue employees falsified documents purporting to show Wirecard had deposit accounts at two of the country’s largest lenders.

Meanwhile, the Philippines’ dirty money watchdog on Wednesday said it’s been coordinating with German and Singaporean authorities in investigating Wirecard and persons of interest. It reminded banks to strengthen their know-your-customer protocols.

The Anti-Money Laundering Council on Sept. 11 said it has identified 57 “persons of interest,” including foreigners and local bank officers and government officials, whose links to Wirecard are being scrutinized.

Give burgers a perfect sear with Ina Garten’s unconventional method

By Kate Krader

WHO would argue against Ina Garten as the most trusted name in the food world these days? She’s the oracle of East Hampton, NY — the culinary world’s Warren Buffett.

When she highlights a recipe, it becomes a sensation: A video of her making a supersized cosmo during lockdown went viral and brought the maligned cocktail attention it hasn’t enjoyed since Sex & the City.

The cosmo recipe is not featured in Ms. Garten’s 12th cookbook, the forthcoming Modern Comfort Food: A Barefoot Contessa Cookbook (Penguin Random House; $35). But Ms. Garten, who has an estimated net worth of $50 million, thanks to her popular TV show Barefoot Contessa and the 12 million-plus books she has in print, does offer a selection of alcoholic beverages. It’s as if she anticipated how much people would need a drink in these increasingly anxious times.

“Comfort is so key right now,” says Ms. Garten in a phone interview about the timeliness of her book’s title. She started planning it in 2018, well before events such as the pandemic were on the horizon. “I knew it was going to be a stressful election, no matter which side of the aisle you’re on.” She adds: “I knew I wanted to provide foods that make people feel better — but modern, with fresher ingredients. Not a plain old Mac and cheese.”

Ms. Garten’s culinary superpower is to take a familiar recipe and tweak it so that it seems refreshed but is still delicious. Among the 85 dishes featured in her book are Brussels sprouts pizza carbonara, beef stew made with short ribs, and chicken pot pie soup. Her Mac and cheese is enhanced with truffle butter and cream sherry.

In Modern Comfort Food, she also turns her attention to hamburgers. “Could there possibly be a new way to make hamburgers that I didn’t know about?” asks Ms. Garten in the headnote. “As it turns out, there is!”

The secret to her smashed burgers, which are topped with a mountain of caramelized onions and Gruyère cheese, is simple: She freezes the meat for exactly 15 minutes before putting the burgers in a searing-hot skillet. Ms. Garten’s recipes are so impeccable that when she says 15 minutes, set your timer.

The result is an interior that stays juicy because of the temporary chill, while the crust on the burger becomes further caramelized. Ms. Garten also adds a pinch of dry mustard powder to the ground beef along with salt and pepper seasoning, which adds an underlying sharpness; it’s excellent with the melted Gruyère.

“When I’m stressed, cooking for people I love makes me feel better. It helps me to make my friends feel taken care of — and certainly, my husband Jeffrey,” says Ms. Garten. “And it helps to make something familiar, like smash burgers that taste better than you expect.”

In the summer, Ms. Garten says, you can pair the burger with her cosmo. “The key to the cosmo is fresh lime juice. It wakes up all the other flavors,” she notes.

In cooler, fall weather, Ms. Garten recommends a whiskey sour. (Her recipe for that is in a previous cookbook, Barefoot Contessa at Home.) Her newest book does have one for hot, spiced apple cider enhanced with a shot or two of bourbon. She recommends it as a drink to serve before sitting down to the burger, though for people who need a double dose of comfort right now, it’s a fine pairing.

The following recipe is from Modern Comfort Food: A Barefoot Contessa Cookbook, by Ina Garten.

SMASHED HAMBURGERS WITH CARAMELIZED ONIONS

Makes 4 hamburgers

Canola or grapeseed oil

2 medium red onions, sliced ¼ inch thick (4 cups)

1 tsp. sugar

1 tbsp. good red wine vinegar

1½ tsp. dry mustard powder, such as Colman’s

Kosher salt and freshly ground black pepper

1¼ pounds ground beef with 20% fat

1¼ cups grated Gruyère cheese (4 oz.)

4 sandwich potato rolls, such as Martin’s

Ketchup, for serving

Heat two tablespoons oil in a large sauté pan over medium heat. Add the onions, and cook for eight to 10 minutes, stirring occasionally, until the onions are tender and starting to brown. Add the sugar, reduce the heat to low, and cook for 10 to 15 minutes, stirring occasionally, until browned and caramelized. Add the vinegar and cook for 30 seconds to deglaze the pan.

Meanwhile, combine the dry mustard, 1½ teaspoons salt, and ½ teaspoon pepper. Place the ground beef in a medium bowl and sprinkle on the mustard mixture. With your fingers, lightly work the mustard into the beef and shape into four one-inch-thick patties. Place them on a plate and freeze for exactly 15 minutes.

Heat a large cast-iron skillet over medium-high heat and add 1½ tablespoons oil. From the freezer, place the burgers directly in the hot skillet. With a large, metal spatula, firmly press each burger into the pan. Cook the burgers for 2½ to 3 minutes without moving them, so the bottoms get browned and crusty.

Flip the burgers, then spoon on the onions and sprinkle the Gruyère on top. Place a lid on the skillet and cook the burgers for 1½ to 2 minutes, until the cheese is melted and the burgers are medium-rare inside. Place one burger on each roll and serve hot, with ketchup on the side. — Bloomberg

Southeast Asia to reap dividends from expansion of digital space: ADB

SOUTHEAST ASIA is among the regions seen to gain the most in the expected surge in the digital space, the Asian Development Bank (ADB) said, but this would require huge investments and good management of risks.

James P. Villafuerte, a senior economist at the ADB Economic Research and Regional Cooperation Department, said in a webinar on Tuesday that their estimates showed a 20% growth in the digital sector from the 2020 baseline, which could boost Southeast Asia’s gross domestic product (GDP) by $378.2 billion in 2025 and by $853.2 billion in 2030. These are equivalent to 11.1% and 25.1% of the current regional output, respectively.

“The Pacific Central Asia and Southeast Asia are actually the sub-regions experiencing a large impact on GDP. Mainly, this reflects the fact that digital connectivity is actually a very effective means of managing some of these geographical challenges. They also reflect the increasing role of digital productivity in pushing services exports, as well as the large impact of the introduction of a greater digital sector on productivity for economies with very low income,” Mr. Villafuerte said.

His presentation showed tech’s GDP impact for Central Asia is at $133.7 billion in 2025 to $241.3 billion in 2030, or 9.4% and 19.5% of its GDP, respectively.

Mr. Villafuerte said the study measures the economic impact of the expected surge in the digital space if the sector will grow faster after the pandemic as demand grows to minimize physical contact.

The estimates were based on two scenarios: in the medium-term, if digital platforms will grow 20% higher than expected between 2020 and 2025; and over the long term, if the sector will post a growth of 25% higher than expected starting 2025 to 2030.

In Asia and the Pacific, he said the output will increase by $2.7 trillion in 2025 and by $5.6 trillion in 2030 (9.4% and 19.5% of GDP, respectively).

“However, there’s a huge investment requirement to realize this digital transformation dividend,” Mr. Villafuerte said.

“It will not come automatically. Many countries in the region probably (need to) increase that not necessarily double but increase their investment in telecommunications and ICT sector quite significantly,” he added.

Southeast Asian countries will have to invest a combined $89.2 billion until 2025 or $169.8 billion by 2030 to realize the projected gains. Meanwhile, the broader Asia and the Pacific region might need to invest $472 billion in the next five years and $856.5 billion in a decade.

The study also looked at the sector’s role in boosting employment, with jobs in Southeast Asia seen to increase by 13.6 million in 2025 and 26.3 million in 2030.

The digital expansion could also push global trade, with that of the region seen rising by $263.4 billion in trade value in the next five years and by $581 billion by 2030.

“In Southeast Asian economies, I can see the opportunities because the market is there, the population is there so automatically to invest in some of the Southeast Asian economies but somehow we need basic infrastructure and here where the role of the government [comes in],” said Muhamad Chatib Basri, chairman of PT Bank Mandiri Tbk and PT XL-Axiata Tbk, who was one of the panelists in the webinar.

Mr. Villafuerte said the projected expansion of the digital sector also entails risks and challenges that will have to be mitigated, such as the high concentration in digital industries that may result in a single big winner, as well as concerns on data security.

He added online jobs are only temporary and are barely covered by social security protection measures, cybercrime and identity theft instances could surge while inequality can widen because of the widespread digital divide. Countries will also have to be prepared for digital penetration.

“Another concern, especially for the government, is that despite the huge profit generated by these technological companies, there is a practice of base erosion and profit shifting, which is affecting the fiscal sustainability of many governments, considering that they are actually spending a lot of money in terms of macroeconomic fiscal stimulus,” he added.

“While we presented a huge economic dividend from digital transformation, these are actually not automatic, there’s so many institutional policies and infrastructure improvements that need to happen so that these aggregated levels of impact can be realized. What we wanted to show in this analysis is that if we are able to make this improve governance and infrastructure and invest in our skills, there’s a huge dividend that can be realized and shared in the members of society,” Mr. Villafuerte said.

The study is part of ADB’s upcoming report “Making Digital Platforms Work for Asia and the Pacific” that will be published in February 2021. — B.M. Laforga

Avon buyers now prefer personal care products over make-up 

By Jenina P. Ibañez, Reporter

AVON PHILIPPINES has seen a shift in the demand for its offerings to personal care products from make-up and fragrances, officials of the direct-selling company said, pointing to the pandemic lockdown as the reason for the switch.

Avon Director for Channel Management Christine Eugenio said antibacterial products, rubbing alcohol, and body wash as well as intimate apparel and kitchen goods continued to see demand during the lockdown.

“Hopefully, people still pick up eye make-up,” she said in a press roundtable on Wednesday, noting that lipstick has been “taking a backseat” as more people wear face masks.

The company has continued selling during the pandemic by offering online product ordering options to its sales representatives while stores are shut.

Avon General Manager Razvan Diratian said the company is adjusting to a decrease in make-up demand but noted that the brand remained the direct-selling market leader in the country.

“We are keeping our market share, so I think we are following the trends in the market. In some of the categories we are actually driving better performance than expected,” he said, referring to home essentials demand.

Avon Head of E-commerce and Digital Kevin Dayleg added that vitamin products have been bestsellers.

“Actually, the direct selling business model is unaffected by lower foot traffic in the malls. It allows us to minimize lockdown impact,” he said.

According to Ms. Eugenio, the company has been training its sales representatives or “Avon ladies” for digital sales. Avon also added rubbing alcohol and hand gel products to its portfolio.

Mr. Diratian said that there is no plan to increase local manufacturing capacity “because it is not needed.”

“Expansion at this moment? Not really, because we didn’t reach the full capacity,” he said, adding that manufacturing is not working at full capacity at this time.

Google Maps now shows info on COVID cases

GOOGLE MAPS now has a feature that shows information about coronavirus cases in an area.

Tech giant Google LLC said in an emailed statement on Monday that the new tool is aimed at helping users ”make more informed decisions about where to go and what to do” amid the coronavirus pandemic crisis.

Google said the new feature shows a seven-day average of new coronavirus cases per 100,000 people for the area of the map.

“It includes a label that indicates whether the cases are trending up or down. Color coding also helps easily distinguish the density of new cases in an area. Trending case data is visible at the country level for all 220 countries and territories that Google Maps supports including the Philippines, along with province and city-level data where available,” the tech company said.

The Google Maps features data from “multiple authoritative sources, including Johns Hopkins and the New York Times,” Google said.

“These sources get data from public health organizations like the World Health Organization, government health departments, along with local health agencies and hospitals,” it added.

The coronavirus has sickened 33.3 million and killed more than a million people worldwide, according to the Worldometers website, citing various sources including data from the World Health Organization. — A.L. Balinbin

FCDU loans decline on reduced need for capital

FOREIGN CURRENCY loans disbursed by local banks fell in the second quarter as capital needs dropped due to slower economic activity due to the coronavirus pandemic.

Outstanding loans disbursed by foreign currency deposit units (FCDU) of banks stood at $17.968 billion as of June, down 1.7% from the $18.271-billion level seen at end-March, the Bangko Sentral ng Pilipinas (BSP) said in a statement on Wednesday.

“The slowdown in FCDU lending may be due to lower customer inventory financing needs and working capital requirements as the ongoing health crisis continued to constrain domestic economic activity,” the BSP said.

On the other hand, loans granted by these banking units rose 2.8% year on year from the $17.482 billion seen as of June 2019.

FCDUs are central bank-approved bank units which perform transactions involving foreign currencies, mainly by accepting deposits and handing out loans.

BSP data showed 64.3% or $11.55 billion of FCDU loans went to Philippine residents, with 61.3% or $11.023 billion going to private entities.

Power generation firms (18.4%) cornered the largest chunk of the borrowings, followed by merchandise and service exporters (15.1%); public utility (7.3%); management/holding and stock brokerage (5.8%); and towing, tanker, trucking, forwarding, personal and other industries (5.6%).

On the other hand, more than a third (35.7%) or $6.418 billion were disbursed to non-residents.

By source, local banks disbursed 87.4% or $15.719 billion of the credit line. The remaining 12.5 or $2.249 billion were sourced from foreign lenders.

For the April to June period, gross credit disbursed by FCDUs declined 21.3% to $11.2 billion on the back of lower funding requirements for units of foreign lenders.

Meanwhile, deposit liabilities of FCDUs inched up 1% to $43.6 billion as of end-June from the $43.1 billion seen as of end-March. It also rose 5.3% from the $41.3 billion seen a year ago.

“The bulk of these deposits (98.2%) continue to be owned by residents, essentially constituting an additional buffer to the country’s gross international reserves,” the BSP said.

The overall loans-to-deposits ratio stood at 41.3% in the second quarter, down from the 42.4% seen as of the first quarter and the 42.3% seen at end-June 2019. — L.W.T. Noble

COVID-19 forces Periwinkle to close its boutiques

CHILDREN’S clothing brand Periwinkle is the latest casualty of the pandemic with the 14-year-old company closing its boutiques permanently although it will continue to sell in select department stores and its online store for now.

“The COVID-19 pandemic has affected every person beyond what anyone could have ever imagined…[while] we are a hundred percent in support of the [health and safety] precautions as safety and security of our customers’ families should always come first… the same measures have also led to circumstances that no longer allow our boutique operations to be sustainable in the foreseeable future, and is something that we, unfortunately, have to face and accept,” the company said in a statement posted on its website and Facebook page on Sept. 28.

Known for hand-smocked dresses and special occasion attire, the upscale children’s clothing brand announced that all its standalone boutiques will be closed although it will still continue to offer its clothes in select Rustans and SM Department stores “until further notice,” as it moves more of its operations online via the website www.myperiwinkle.com.

Periwinkle has boutiques in Shangri-La Plaza Mall, TriNoma, Marquee Mall, Alabang Town Center, Eastwood Mall, SM Mall of Asia, SM Megamall, SM North (The Block), SM City Clark, SM City Pampanga, SM City Lipa, Robinsons Manila (Midtown), Robinsons Galleria (East Wing), Harbor Point, Robinsons Magnolia, SM Aura, and Ayala Fairview Terraces.

“Our heartfelt thanks to all of you for your unending encouragement and support throughout the years. It breaks our hearts to close our stores, but the memories shall live on and keep us inspired as we move on towards whatever the future brings,” the company said.

“Let us pray for better days to come. For now, we hope to see you, online!” it added. — ZBC

Going hand in hand on the journey towards a brighter future for China and the Philippines

This year marks the 71st anniversary of the founding of the People’s Republic of China. For the past 71 years, China has grown into the world’s second-largest economy — a manufacturing giant equipped with a complete range of industries and a major country with a permanent seat at the UN Security Council. In the face of the COVID-19, China has fought a fierce war against the pandemic and effectively curbed the spread of the virus, creating a remarkable feat in humankind’s struggle against diseases. China is slated to complete the building of a moderately prosperous society in all respects this year and will eliminate absolute poverty for the first time in its history.

China owes its development achievements, first and foremost, to the strong leadership of the Communist Party of China (CPC), and to Chinese people’s hard work and wisdom. It has also benefited from mutual respect and win-win cooperation with the rest of the world. Therefore, China will always be a builder of world peace, contributor to global development, and defender of the international order while focusing on its own development.

China has stayed committed to peaceful development, contributing positive energy towards world peace. Peace, harmony and wishing your neighbors and loved ones well have long been deeply rooted in the mindset of Chinese. China’s commitment to peaceful development has been ingrained into China’s and CPC’s Constitution. China has respected the right of other people to choose their own development path and upheld the Five Principles of Peaceful Coexistence. Over the past seven decades, China has neither provoked a war or conflict nor occupied an inch of others’ land. China has made significant contributions to the settlement of major international and regional hot spot issues, and world security and stability. Today, China is the second-largest contributor to the UN regular budget and the peacekeeping budget and has sent nearly 40,000 peacekeepers to UN missions, over 10 of whom lost their lives when serving their duty to safeguard world peace.

China has stayed committed to win-win cooperation, bringing driving force to world development. In the past four decades, since reform and opening up, more than 800 million Chinese people were lifted out of poverty, contributing over 70% to global poverty reduction. China has provided approximately RMB400 billion in aid to other countries and international organizations, and dispatched over 600,000 people to support other developing countries to implement the Millennium Development Goals and the 2030 Agenda for Sustainable Development. China has always been sharing development opportunities with all other countries and fostering a better balance between the North and the South. Contributing over 30% to global growth for the past 10-plus years, China has been the top trading partner for more than 130 countries and regions. Under the framework of the Belt and Road Initiative, China has signed cooperation documents with 138 countries. The trade-in goods with partner countries have exceeded $7.8 trillion and direct investment surpassed $110 billion.

China has stayed committed to fairness and justice, providing stability for an international order. As a Chinese saying goes, “The noblest ideal is to create a world truly shared by all.” China has resolutely upheld the international system centered around the UN and the international order based on international law. China has joined almost all the universal inter-governmental organizations and acceded to more than 500 international conventions. Facing the undertows of unilateralism and protectionism, China has firmly pursued the multilateral trading regime with concrete actions to make economic globalization more inclusive and beneficial for all. China has also been actively sharing its vision and approaches with the world by putting forward the vision of creating a new type of international relations and community of shared future for mankind and advocating to build an open, inclusive, clean and beautiful world that enjoys lasting peace, universal security, and common prosperity.

In a world of increasing interconnection and interdependence, China has always been welcoming the Philippines and other countries to get on board the express train of its development to realize common development and prosperity. China is now the Philippines’ top trading partner, the largest source of imports, and the third-largest export market. In 2019, our bilateral trade volume reached $60.95 billion, with a 9.5% year-on-year increase. More and more Philippine tropical fruits have been on the dining tables of Chinese people. In 2019, China imported $600 million worth of bananas from the Philippines, bringing tangible benefits for the Filipinos.

China and the Philippines are not only natural partners benefiting each other in economic development, but also close friends helping each other through difficulties. In the face of the common challenge of the COVID-19, our two governments and two peoples have stood together and helped each other overcome trying times. The Philippines provided valuable support and assistance to China at the height of its battle with the virus, which we will always be grateful for and hold dear to our hearts. In light of the pandemic situation in the Philippines, we feel keenly for the Philippine people amid the trying times. China has extended every help and support to the Philippines to the best of its ability, promptly providing well-needed medical supplies, dispatching an anti-pandemic medical expert team, sharing anti-pandemic experience and technologies without any reservation. The Goodwill Flight transporting medical supplies urgently needed by the Philippines secured the life channel by air between our two countries. The Friendship Bags containing food and daily necessities to Filipino families in need across the country conveyed the profound friendship that we shared. All these efforts have written splendid chapters in the history of China-Philippines relations and demonstrated a closer partnership in the new era.

The profound China-Philippines relations could not be achieved and maintained without President Xi Jinping and President Rodrigo R. Duterte’s strategic guidance and their commitment and hard work. These hard-won achievements deserve to be cherished. In the context of our thousand-year friendly interactions, our differences on the South China Sea issue are just brief interludes and a small part of our relationship, while our cooperation is the only main theme. Allowing such disagreements to hijack the overall relations between our countries is nothing but inadvisable. Given the shifting geopolitical landscape and the escalating pandemic, our two countries should focus on combating the pandemic, promoting economic recovery, and safeguarding the peace and stability in the region to meet both of our fundamental interests.

Our two countries should firmly deepen our partnership for the fight against the pandemic. The key to COVID-19 response at the current stage is the development, production and distribution of vaccines. China will consider giving priority to the needs of the Philippines once China successfully develops the vaccine. China is also discussing with the Philippines to establish a “fast lane” for the movement of people and a “green corridor” for the flow of goods between our two countries to contribute to the resumption of work and production as well as the stable functioning of industrial and supply chains.

Our two countries should firmly deepen our partnership for development. China will work with the Philippines to enhance the synergy of the Belt and Road Initiative and the Build, Build, Build Program, and strengthen practical cooperation across the board to benefit our peoples. China would also like to further tap into its mega-sized domestic market and demand and share more of its development dividends with the Philippines to accelerate the Philippines’ economic recovery in the post-COVID-19 era.

Our two countries should firmly deepen our partnership for peace. As the old saying goes, “A neighbor near is better than a relative far away.” China and the Philippines are close neighbors that could not move away from each other. As countries in the region, we benefit the most from regional peace and stability. The troubled South China Sea only serves the geo-political interests of non-regional country while countries in the region have to bear the costs. We should learn the lessons from the unrest in West Asia and North Africa caused by external interference and prevent our region from being trapped in the same situation. China is ready to work with the Philippines to safeguard regional peace and stability to secure a sound external environment conducive to our two countries’ development.

At a time of major changes rarely seen in a century, we are at a crossroads and our choices define our future. We should make concerted efforts to stand on the right side of history. China is committed to the path of peaceful development and will make every effort to meet its people’s aspiration for a better life through safeguarding their right to development. China will also contribute to world peace and development through its own development, and work with the Philippines and other countries to jointly address common challenges and build a community of shared future for mankind.

Phoenix partners with gov’t on retail stores for farm produce

PHOENIX Petroleum Philippines, Inc. has partnered with the the Agriculture and Energy departments in initiatives that aim to mitigate the effects of the coronavirus disease 2019 (COVID-19) pandemic to the farm sector.

In a disclosure to the stock exchange on Wednesday, the Dennis A. Uy-led oil company said it would provide spaces in its retail stations in South and Central Luzon that farmers and fisherfolk can use to sell their produce.

Participating Phoenix retail branches will allow the selling of agricultural products from 6:00 a.m. to 2:00 p.m. daily until Dec. 31 as long as health protocols are observed, such as social distancing and the wearing of face masks and face shields.

“With this initiative, we will be able to help farmers and fisherfolk by giving them a new channel to offer their products, and additional support that will alleviate their fuel expenses, and ultimately help soften the blow of the pandemic to their livelihood,” Phoenix Senior Vice President Alan Raymond T. Zorrilla said.

Phoenix will also offer fuel discounts of up to P4 until the end of the year to registered beneficiaries that may be availed in selected retail stations in Luzon.

It will also establish a dedicated fleet program for participating farmers and fisherfolk with fuel needs of at least 2,000 liters per month.

Qualified applicants under the program will enjoy features such as cashless transactions, additional payment terms, and comprehensive reports.

In addition, Phoenix will also donate P50,000 worth of fuel, which will be given through the Department of Agriculture.

“Due to the COVID-19 pandemic and the subsequent quarantine measures imposed in different cities nationwide, the distribution of agricultural goods have been affected, leaving farmers and fishermen with limited livelihood opportunities. We recognize these challenges that have been brought upon Filipinos, including those in the agriculture sector,” said Ericson S. Inocencio, Phoenix general manager for retail sales. — Revin Mikhael D. Ochave

Dining In/Out (10/01/20)

Tefal comes out with new cookware set

FOR OVER 60 years, Tefal has been making homelife easy with innovative products that started with the world’s first non-stick cookware. The iconic brand recently launched the Tefal Ingenio line, which makes cooking and storage easier for smaller spaces such as today’s condominium units. Busy foodies can cook from the hob, move to the oven, serve a dish directly from the pot or pan, and store leftovers in the fridge with the ultra-practical Tefal Ingenio cookware set. It features a 100% safe removable handle that can be switched from one pan to another in a single click and a space-saving, stackable design that ensures easy storage in limited cupboard spaces, for added convenience. Ingenio is crafted with the patented Tefal Titanium Excellence, which is a thick and sturdy titanium base with long lasting non-stick coating that has been tested to withstand 48,00 abrasion cycles. The handle features a smart ergonomic design for comfort, while it securely fastens to the pan with a three-point fixation system. This ingenious handle can carry up to 10kgs and it comes with a Tefal 10-year guarantee. What’s more, the Thermo-Spot thermal indicator on the Tefal pans tells you when to start cooking to guarantee perfect texture, color and taste. The Tefal Ingenio is currently available in Ingenio 3pc Set Blue Salt, Ingenio 4pc Surprise Red and Ingenio 5pc Set Velvet Purple. Tefal Ingenio, Tefal Natura, Day By Day, So Chef and other cookware collections are now available in Birch Registry. Tefal Cookware is exclusively distributed by Rustan Marketing Corp. and available in leading department stores nationwide and at Birch Registry.

M&S launches 2 new lines of wines

MARKS & SPENCER (M&S) is helping customers take a trip around some of the world’s most famous  wine regions with the launch of its new wine range, Classics. This specially curated collection has been created in partnership with expert winemakers across the globe and features some of the best examples of the most popular wine styles and regions. The new Classics range includes Claret from Bordeaux, France; Pinot Grigio from northern Italy, and Riesling from Germany. The initial collection boasts nine wines to choose from, predominantly from Old World regions. They are priced between P595 and P895. To create the range, M&S’s award-winning in-house winemakers Belinda Kleinig and Sue Daniels worked closely with expert regional winemakers and wineries around the world. The Classics wine range includes No.10 Classics Barossa Chardonnay, 2019, P795; No.11 Classics Corbières, 2019, P750; No.15 Classics Picpoul de Pinet, 2019, P750. These are available at BGC Central Square, Glorietta 4, Greenbelt 5, Rockwell Powerplant, Mall of Asia, SM Megamall, Robinson’s Place, Shangri-la Plaza Mall, Ayala Cebu, Trinoma, Alabang Town Center and SM Aura. M&S is also unveiling 15 new wines this month with the launch of its This Is range. From spicy reds, to blushing rosés, tropical whites and more, these top-value wines are available in store with prices ranging from P450-P495 per bottle. Created by M&S winemakers, the new wines showcase popular styles and grape varieties, with bright, helpful labels showing customers exactly what kind of wine is on the inside. Ideal for new wine-lovers who might otherwise find the wine aisle intimidating, the range is designed to offer guidance on taste, styles and grape varieties to help customers begin their wine journey.  The full This Is wine range includes: This Is French White, 2019, P450; This Is Pinot Grigio, 2019, P475; This Is Italian Red, 2019, P450; This Is Fruity White, 2019,, P450; This Is Spanish Red, 2019, P450; This Is Cabernet Sauvignon, 2019, P475; This Is Merlot, 2019, P475; This Is Shiraz, 2019, P475; and This Is Italian Sparkling Rosé, NV, P495. The new This Is range of wines is available in all Marks & Spencer stores nationwide except Limketkai Center, CDO. Both the Classics and This Is ranges can also be purchased online at marksandspencer.com.ph or via our Viber Community at tinyurl.com/MNSPH-VC.

Chooks-to-Go goes digital

BOUNTY Agro Ventures, Inc. (BAVI), home of Chooks-to-Go, tapped Globe Business to provide customers with contactless access to food products. The leading chicken rotisserie company and one of the largest poultry integrators in the Philippines teamed up with Globe and its digital marketing subsidiary, AdSpark, to build a chatbot ordering platform hosted on Facebook Messenger. The new chatbot-enabled platform, which was built from the ground up, makes it possible for fans of Chooks-to-Go to view the list of products available in their locations, input their order quantity, and submit orders for processing and delivery. Once products are delivered, customers can make payments  via cash or the GCash QR codes provided by delivery riders. There are more than 1,200 Chooks-to-Go outlets.

Get a free dish with new Kuya J Salo-Salo bundle

KUYA J’s new Salo-Salo offering comes with a free dish. The Salo-Salo options include the Crispy Pata Salo, Pochero Bulalo Salo, or the Kare-Kare Salo. Each Salo-Salo bundle comes with a main dish, sides, and rice. Now every order of any Salo-Salo bundle entitles the customer to one extra free dish: Sizzling Tofu with the Crispy Pata Salo,  Grilled Scallops with the Pochero Bulalo Salo, and Lumpia Prito with the Kare-Kare Salo. This special offer is available until Oct. 31 for dine in and takeout at all operating Kuya J stores nationwide. Salo-Salo bundles are also available for delivery and pick up via www.centraldelivery.ph. Customers can also get the latest updates and exclusive deals by downloadng the Central Delivery app on the Google Play Store or the Apple App Store. 

The Empress Dining Palace offers traditional mooncakes

THE EMPRESS Dining Palace unveils two classic mooncakes — White Lotus with Double Egg Yolk and Plain White Lotus — for this year’s Mid-Autumn Festival which falls on Oct. 1.  The Empress Dining Palace, now celebrating its first anniversary, chooses to stick to the Cantonese rendition of this Mid-Autumn pastry, elegant in appearance and generously filled with the iconic White Lotus paste made from fresh lotus seeds. Encased in a box are four  mooncakes, with two of each flavor, retailing at P2,088. As this time-honored pastry is meant to be gifted to family, friends and colleagues, bulk orders in six and above are priced at P1,888 per box. Orders may be placed in advance by calling 8292-0807 or 0915-543-1862 and are available for pickup and delivery. Delivery may be arranged via The Empress Express, The Empress Dining Palace’s official delivery brand and service, or through the guest’s chosen courier. Safely feast at The Empress Dining Palace located at 7th Avenue, Bonifacio High Street, BGC, Taguig City. It is open daily from 11 a.m. to 8:30 p.m. Orders for pick-up and delivery may also be done via Foodpanda and GrabFood. For reservations and inquiries about The Empress Dining Palace’s latest promos, visit its official Facebook page https://www.facebook.com/empressdiningpalace/ or Instagram https://www.instagram.com/empressdiningpalace/.

UFC launches ready-to-eat Gravy Sa Sarap

NUTRIASIA has just come out with UFC Gravy Sa Sarap, a ready-to-eat gravy product that tastes like people’s favorite restaurant gravy. UFC Gravy Sa Sarap is handy and convenient as there is no need to prepare or cook before enjoying it. Not just for fried chicken, it can be paired with different viands.

New show busts cooking myths

BELIEFS are passed down through generations, and some of them pertain to preparing and cooking meals. One popular example is that cutting onions will make you cry — but what if someone showed you a way to prepare a meal with onions without risking getting your tears in the mix? Join Sarah Huang Benjamin on Asian Myths, AFN’s latest webseries that debunks some of the most popular cooking myths across Asia every Wednesday until Oct. 28. Every week, benjamin will be showing viewers how to prepare familiar dishes without falling for false beliefs or compromising the most important aspect — taste. Some recipes will also take audiences through traditional steps like leaving larger chunks in a banana cake to add texture to have that nostalgic quality akin to having your grandma prepare it. Among the dishes she will be preparing are banana cake, beef brisket stew, and tendon (tempura don). New episodes will be uploaded every Wednesday on the AFN Facebook Page and on AFN’s official website.

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