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Solar Philippines secures ERC go signal to raise rates by 2% annually

By Victor V. Saulon, Sub-Editor
SOLAR Philippines Tarlac Corp. has secured the regulator’s approval to raise by 2% annually the P2.999 per kilowatt-hour (kWh) electricity rate it signed with distribution utility Manila Electric Co. (Meralco).
In an order promulgated on March 4, 2019, the Energy Regulatory Commission (ERC) has reversed its initial ruling that disallowed the annual price escalation after Solar Philippines presented evidence proving that even on the 20th year of the power supply agreement (PSA), the rate at P4.4577/kWh will still be the lowest among the previously approved applications for solar power plants.
“The Commission likewise took note that under [Solar Philippines’] proposal, the rate of return over the project’s 20-year term is only 0.05% which is much lower than the rate of return allowed by [it] in other applications,” the ERC said.
The regulator also noted that the project is not foreseen to earn any profit until several years from the start of operation. Denying the 2% annual escalation, which is part of the rate agreed by the contracting parties will deny Solar Philippines the opportunity to recover its investments in the project, the ERC said.
The ERC said a denial is deemed inconsistent with Republic Act No. 9136 or the Electric Power Industry Reform Act of 2001 (EPIRA), which mandates the commission to “fix rates that will allow the recovery of just and reasonable costs and a reasonable return on rate base” for investors to operate viably.
The commission also said that its current policy in evaluating PSA applications is to arrive at the generation rate after employing the cost-based methodology. It said Solar Philippines’ proposed rate of P2.999/kWh “was found to be significantly lower” than the calculated generation rate computed by the ERC using the said methodology.
The ERC ruling comes after the regulator issued an order on Feb. 20, 2018 provisionally authorizing Meralco and Solar Philippines to implement their PSA at the agreed rate but without the annual adjustment or escalation.
Solar Philippines is the price challenger to an offer made by Citicore Power, Inc. to Meralco for solar power at a price of P3.7144/kWh and a 2% annual price escalation. Citicore did not match Solar Philippines’ offer of P2.999/kWh.
On June 29, 2018 Meralco filed a manifestation wherein it informed the ERC of Solar Philippines’ refusal to accept the February order because of the disallowed 2% annual escalation rate.
On July 3, 2018, Solar Philippines filed a motion for partial reconsideration wherein it said, among others, that even with the application of the annual escalation, the PSA rate is still significantly lower than the prevailing feed-in-tariff rate for solar energy at P8.69/kWh and the approved rates for other solar power plants.
Solar Philippines had said should the price escalation still be rejected, the company should instead be allowed to charge the levelized average rate of P3.7144/kWh, a price Meralco objected because it was not the one agreed during the price challenge process.
Solar Philippines also sought to move the timeline for the performance of its obligation under the PSA from December 2017 to February 2018. It also said that for the first 10 years of the PSA, and based on the ERC’s simulation, the rates range from P2.999/kWh to P3.6569/kWh — all of which are lower than the 20-year average of the PSA amounting to P3.7144/kWh.
The company said without the escalation, the agreement will be financially unviable to the prejudice of Solar Philippines and the consuming public.

Too many cooks make a good paella


ON March 17, 2018, the annual Festival de la Paella Gigante brought together chefs from many of the metro’sa hotels, restaurants, and culinary academies to pool their skills in creating, as the event’s title clearly stated, a giant paella. It was a night of smoke and music, dance and wine, and, of course, good paella.
On March 16 this year, the 7th Festival de la Paella Gigante will again be held at the Greenbelt 3 Park, on from 5 p.m. onwards.
The Festival is organized by Sociedad Española de Beneficencia in collaboration with the LTB Philippines Chefs Association, the Ayala Malls, and various other sponsors. That evening, the LTB chefs will be cooking a gigantic paella that is approximately 11-feet in diameter.
Aside from the paella, there will be food booths at the perimeter, and performances.
Sociedad Española de Beneficencia is an NGO founded in 1948 by Spanish nationals to principally address the needs of elderly Spanish residents in the Philippines. This annual gathering raises funds for the care of the elderly beneficiaries.
Given the Festival’s popularity, it is recommended to pre-purchase the P400 tickets by e-mailing the number of tickets one needs along with a copy of a deposit/payment slip made to the Sociedad’s account, and one’s mailing address. For more details, e-mail sociedadespanolabeneficencia@gmail.com.

Lenovo opens first Legion concept store in PHL

Lenovo Legion Y740
Lenovo Legion Y740 (15-inch)

By Zsarlene B. Chua
Reporter
HONG KONG-BASED technology company Lenovo has opened its first Legion concept store in the country in an attempt to strengthen the company’s local gaming segment.
Located at the fourth floor of the Annex building of SM City North EDSA in Quezon City, the less than 40-square-meter space features Lenovo’s Legion-branded gaming computers and functions as an “experience zone” so gaming enthusiasts can try the products for themselves.
The brand also plans to host “mini gaming tournaments to further engage the local gaming community,” according to a press release.
The space will also introduce other Legion-branded gaming peripherals in the near future.
“[We want to open] as many as we can [but] it relies on available spaces… I want the store to open, the third store to open and even the fourth [this year] but it depends,” Michael Ngan, Lenovo Philippine general manager told BusinessWorld during the launch on Feb. 28.
Since the launch of Legion in 2017, Mr. Ngan said the company is bullish on trying to gain market supremacy in the gaming segment as the Lenovo sees the Philippines as a growth space for the company’s gaming sub-brand.
In fact, Mr. Ngan said they are lobbying to have Lenovo host its annual Legion of Champions in the Philippines. Legion of Champions is one of the biggest Asian e-sports tournaments and is currently on its third year. It was held in Thailand in January.
“We’ve had a lot of customers asking why don’t we host [the tournament] in the Philippines…so I’m lobbying that we can have the opportunity to host the fourth edition here in Manila,” he said.
Aside from the opening of the concept store, the company also launched the new Legion Y740 gaming laptop, the company’s first device to have NVIDIA GeForce RTX graphics card. The graphics card combined with its Intel Core i7-8750H processor, the Y740 claims to be able to easily handle graphics-intensive games such as Shadow of the Tomb Raider, Battlefield V and Anthem at either 1080p or 1440p resolution.
It is also said to be the thinnest and lightest among similarly specked devices with it being 19.95 mm thin and 2.2 kg light. It also has an RGB keyboard powered by Corsair iCue and USB-C Thunderbolt 3 support.
The P119,995 device also comes with 16GB RAM, 1TB+256 GB SSD memory and a 15.6-inches FHD IPS 144Hz panel size.

Cebu Pacific to mount flights from Manila to Marinduque in April

CEBU PACIFIC announced on Wednesday it will start flights between Manila and Marinduque next month through its subsidiary Cebgo.
In a statement, the budget carrier said the Manila-Marinduque route will commence on Apr. 1. Cebgo will use its brand-new ATR aircraft for the three flights weekly, every Monday, Wednesday and Saturday.
“It takes only about an hour to fly between Manila and Marinduque — in contrast to the eight-hour trip by ferry and land today. Regular flights will allow business to prosper and the island’s tourism sector to boom,” Cebgo President Alexander G. Lao said in the statement.
Once Marinduque operations begin, it would be the 37th domestic destination in the portfolio of Cebu Pacific.
Marinduque Rep. Lord Allan Jay Velasco said in the statement the new route is expected to spur tourism growth in the area.
“We are optimistic that with larger aircraft and regular flights, tourists will have greater access to Marinduque and harness its potential as a world-class eco-tourism destination,” he was quoted as saying. — Denise A. Valdez

Wine Made Easy: It’s time to pay attention to the other Cabernet

By Elin McCoy, Bloomberg
QUICK: when you hear a wine is Cabernet, do you automatically think cabernet sauvignon? Of course you do. It’s the world’s most widely planted red grape, noted for big, rich, power-packed wines you can swoon over and even invest in.
But I’m here to convince you to remember cabernet franc, its lighter, fresher, juicier, and more versatile relative. (In fact, cabernet franc turns out to be one of the parents of cabernet sauvignon.) Once an underdog, cabernet franc become the new insider choice for wine geeks, somms, and those who like to be up on the fashionable grape of the moment.
That’s partly because of the current craze for all things Loire Valley, where cabernet franc is the grape of wines labeled Chinon, Bourgueuil, Saumur Champigny, Anjou Rouge.
In Bordeaux and California, cab franc was mostly relegated to a blending grape, adding acidity, spark, savory herbs, and lush floral aromas to fat-bottomed merlot and cabernet sauvignon blends.
But the all-cab franc style of France’s Loire Valley is inspiring more wine makers around the world, from Argentina to Italy, to create their own lively versions. Canada even uses it for ice wine.
In 2018 the volume of direct shipments of cabernet franc in the US jumped 19%, according to the recently released Direct to Consumer Wine Shipping Report. The growth trend, it says, started in 2014.
California, naturally, is behind a new wave of cabernet franc wines. Last weekend, at Napa’s annual barrel auction Premiere, where cabernet sauvignon is always the star, eight special lots of cabernet franc were auctioned, leading off with Lot #1, “Gravity’s Rainbow” made by wine whiz Aaron Pott, who has long championed the grape.
What’s cabernet franc’s appeal? Napa’s Rob Sinskey, owner of Robert Sinskey Vineyards, likes to say that if wine were cars, cabernet franc would be a Citroen DS from the early ’60s (still a collectible that placed third in the 1999 Car of the Century poll).
Cab franc, he says, is misunderstood and quirky, yet smooth and elegant. The medium-bodied wines are different from cabernet sauvignon: loaded with charm and finesse, soft bright raspberry-ish fruit, aromas of violets and mint, less tannin, and a silky texture that can remind you of pinot noir. While some top examples sell for three digits, the majority are modestly priced. Examples from outside the Loire are fruitier and sunnier, often with softer edges.
More cab franc is definitely in your future. Because the grape ripens a week or two earlier than cabernet sauvignon, it’s ideally suited to cool climates like New York’s Finger Lakes and other places in the US such as Virginia and Michigan. Acreage in Argentina is growing, and the grape is planted in Hungary and Kazakhstan. At the same time, global warming has helped cabernet francs in the very cool Loire Valley develop more fruit and sensuality.
So what are you waiting for?
Here are 12 top examples that cost under $50.
2016 Ravines Wine Cellars Finger Lakes Cabernet Franc ($21) The owners of this boutique winery on Seneca Lake are convinced cabernet franc will become the region’s flagship red. This vintage is light and supple, with flavors of tart cherries, perfect with grilled chicken.
2015 Olivier Cousin Anjou Pur Breton ($30) A legend in the natural wine world and the Loire Valley, biodynamic producer Olivier Cousin makes a couple of cab francs. This one is a wonderfully juicy combo of ripe fruit flavors and aromas, with plenty of zing, and from a superlative vintage.
2017 Philippe Alliet Chinon ($22) Chinon is the most famous region for Loire Valley reds, and a family noted for meticulous wine making is behind this juicy, tasty entry-level example from old vines. One of their four cab francs, it’s a combination of bright fruit and a mineral edge.
2015 Broc Cellars Cabernet Franc ($27) This easy-drinking natural wine from a trendy urban winery in Berkeley has pure, bright sour cherry flavors and light floral aromas. Its lighter-style reminds me of Beaujolais. The grapes are from Happy Valley, Santa Barbara.
2016 Bodega Catena Zapata Appellation San Carlos Cabernet Franc ($25) This pioneering winery in Argentina never stops experimenting. This purply, mouth-filling, spice-and-cassis-inflected example from their appellation lineup comes from one of the cooler spots in the Uco Valley and from a cool year.
2016 Calcu Reserva Especial Cabernet Franc ($13) Made from younger vines in Chile’s Colchagua Valley, this wine is all about bright, fresh raspberry and blueberry fruit with floral and herb aromas, and it’s a very good value.
2016 Duemani Cifra Cabernet Franc ($32) Superstar wine maker Luca d’Attoma planted his property on the Tuscan coast with the grape he loves. Certified organic and biodynamic, it’s a hearty, high-personality example, with aromas of dark berries, plummy flavors, and a rich, thick texture.
2015 Raats Family Cabernet Franc ($42) In South Africa, the grape was only introduced in the 1980s. Stellenbosch wine maker Bruwer Raats has been growing it since 2000, and makes several bottlings. This one is intense and complex with spicy fruit, hints of dark chocolate, and a velvety texture.
2015 Early Mountain Cabernet Franc Shenandoah Valley ($30) Jean and Steve Case (founder of AOL) increased the acreage of cabernet franc vines after purchasing this property in 2010. This silky-textured red is their less expensive bottling and shows what a great future the grape has in Virginia’s Shenandoah Valley.
2017 Lieu Dit Cabernet Franc ($30) Founded in 2011 by two Loire lovers, this Santa Barbara County winery specializes in grapes from that region. This wonderfully pure, bright, floral wine has intense cherry-savory notes.
2015 Garage Wine Cabernet Franc San Juan de Pirque Vineyard ($37) This exciting wine made by a native Canadian comes from a high-altitude vineyard in the Maipo region of Chile. It’s dark and concentrated with plush polished fruit.
2014 Lang & Reed Cabernet Franc North Coast ($27) The founders of this Napa winery aimed to make charming wines from this grape more than 20 years ago. They’ve succeeded big time. This vintage has violet and herb scents and stylish berry and lavender flavors, with a kick of acidity.

Yields on term deposits decline as demand rebounds after RTBs

By Melissa Luz T. Lopez, Senior Reporter
YIELDS ON term deposits fell across the board this week, supported by stronger demand as banks appear to remain awash with cash.
Bids for the term deposit facility (TDF) soared to P95.029 billion yesterday, soaring from the P69.995 billion in offers received a week ago and nearly double the P50 billion which the Bangko Sentral ng Pilipinas (BSP) looked to sell.
The recovery in demand came the week after the Bureau of the Treasury rolled out its public offering of five-year retail bonds, which shored up P173 billion as of March 1.
Liquidity returned to the TDF on Wednesday, which in turn had banks asking for lower returns amid abundant supply.
The seven-day tenor saw tenders rise to P42.285 billion, improving from the P36.759 billion received last week and logging more than double the P20 billion which the central bank wanted to offer.
To compete with the overwhelming demand, banks pared down the returns they wanted to average 5.0342%, coming from a range of 4.88-5.1% from 5.1027% last week.
The same trend was observed for the 14-day papers, with demand soaring to P33.516 billion from P21.874 billion to also beat the P20-billion auction volume. As a result, yields also dipped to a 5.1452% average from 5.1661% a week ago.
The 28-day instruments also received stronger appetite, with the P10-billion offering met by bids worth P19.228 billion. This rose from the P11.362 billion tenders during the Feb. 27 exercise. Yields also slipped to 5.1758% from 5.2017% previously.
The TDF has been the central bank’s primary tool to shore up excess cash in the financial system.
Through the weekly auctions, the BSP wants to bring market and interbank rates closer to their desired range through the yields which they accept.
Banks had been betting more placements under the TDF since the Monetary Board voted to keep interest rates at the 4.25-5.25% range during the Feb. 7 meeting, which in turn sets the benchmark for term deposit rates.
BSP Deputy Governor Diwa C. Guinigundo has said that recent auction results show the market is not tight, as the TDF continues to receive ample bids even with an ongoing retail Treasury bond offering.
“This situation continues to suggest that the system remains liquid, that banks have increasing surplus funds they can place with the BSP’s facilities, including the TDF,” Mr. Guinigundo said via text message.
Some market players have been calling for fresh cuts in the 18% bank reserve requirement, but the central bank official said they need to see real tightness in liquidity before they do so.

Grab raises $1.5B from SoftBank fund

LEADING Southeast Asian ride-hailing provider Grab raised about $1.5 billion from SoftBank Group Corp.’s Vision Fund, bankrolling its effort to expand into new services across the region.
The funding brings to about $4.5 billion the amount of money the company has collected from investors in the past year, it said. SoftBank is already a major backer of the Singapore-based start-up, and the latest investment will boost its stake.
Grab founder Anthony Tan is battling Go-Jek for leadership in the Southeast Asian market after vanquishing Uber Technologies, Inc. in the region last year. Mr. Tan is holding a press conference today in Indonesia, its rival’s home turf, and plans to spend a significant portion of the latest proceeds in the country.
Go-Jek has presented the thorniest challenge, with the Jakarta-based startup marching into Grab’s home market of Singapore as well as Vietnam and Thailand. Go-Jek, led by Mr. Tan’s Harvard Business School classmate Nadiem Makarim, is also raising additional capital to compete for customers and drivers.
Southeast Asia’s two most valuable start-ups are aiming to expand swiftly in everything from mobile payments to food delivery. Go-Jek raised over $1 billion in its ongoing funding round from a clutch of internet giants including Google, JD.com Inc. and Tencent Holdings Ltd., Bloomberg reported last month. Both companies are using the proceeds to shore up their positions in Indonesia and expand around the region, while merging payments with ride-sharing and food delivery to create so-called super apps.
“It is an incredibly dynamic market where the consumer class is rapidly digitizing. And within this digitization, we see tremendous opportunities to continue growing our super-app platform,” President Ming Maa told Bloomberg Television. “We are already profitable in some of our most mature business segments and in our more mature markets.”
Southeast Asia’s best-funded technology start-ups are raking in billions of dollars of investments. The region’s internet firms raised $9.1 billion from venture capitalists, private equity firms and corporate investors in the first half of last year, headed for an all-time record, a report from Google and Temasek Holdings Pte. shows. The industry raised $9.4 billion in all of 2017, according to the November research.
The region’s ride-hailing market is expected to reach $28 billion by 2025 from an estimated $7.7 billion last year, the report shows, underscoring the ambition of Go-Jek and Grab to become Southeast Asia’s super apps. On Wednesday, Maa said his start-up had no plans for an IPO at this point but was monitoring the impending debuts of Uber and Lyft, Inc. — Bloomberg

Michelin to debut restaurant guide for California in June

RESTAURANT rating guide Michelin said on Tuesday that it will launch a publication for California in early June, expanding its current coverage for eateries in San Francisco and the surrounding wine-producing regions of Napa and Sonoma.
The new Michelin guide will incorporate its anonymous raters’ grading for restaurants in Los Angeles, Monterey, Orange County, Sacramento, San Diego, and Santa Barbara, it said.
“With access to many of the world’s best farms, food producers and vineyards, California cuisine is respected worldwide not only for the quality of its ingredients but also due to the creativity displayed by its chefs,” said Gwendal Poullennec, international director for the Michelin Guides, in a statement.
In the 2019 edition of its San Francisco area guide, Michelin awarded eight restaurants with three stars, its highest ranking. They included Atelier Crenn, owned by Dominique Crenn who became the first US-based female chef to receive the distinction.
Michelin’s three-star rating, coveted by chefs and restaurateurs, is rare. Just over 100 establishments around the world have that status. — Reuters

Dooc resigns as amended SSS charter takes effect

SOCIAL SECURITY System (SSS) President and Chief Executive Officer Emmanuel F. Dooc tendered his resignation on Tuesday following the effectivity of the pension fund’s amended charter.
In a statement yesterday, the SSS said Mr. Dooc submitted his resignation letter to President Rodrigo R. Duterte, stepping down “voluntarily and irrevocably.”
“The new SSS Charter took effect, and I was appointed under the old law. Meaning, my term of office expired yesterday,” Mr. Dooc said in a phone interview.
“I voluntarily and irrevocably stepped down from my position, and I informed the President of that effective immediately, so that he would have a free hand to appoint my successor who is deserving and worthy of his trust.”
Under the helm of Mr. Dooc, the 17th chief of the pension fund, he pushed for the passage of Republic Act No. 11199 or the Social Security Act of 2018 in a bid to ensure the long-term viability of the fund’s life.
RA 11199 signed by President Rodrigo R. Duterte last Feb. 7 allows the Social Security Commission or the policy-making body of the pension fund to adjust contribution rates and monthly salary credits of its members.
It also introduced new benefits such as the involuntary separation benefit, as well as compulsory coverage of overseas Filipino workers with social security protection.
The management of Mr. Dooc also saw the highest contribution collections from its members, which jumped to a record P181 billion in 2018 from P132 billion in 2015, SSS said.
Apart from these, the SSS under the leadership of Mr. Dooc also launched “member-friendly” programs and innovations such as the Loan Restructuring Program, Calamity Loan Assistance and real-time processing of contributions, the pension fund said.
“I’m happy and I like to think that I’m leaving SSS in a better shape than when I found it. We have a new law, which empowers the SSS to introduce reforms. Our records would show that we have better collection efficiency,” Mr. Dooc added.
Pressed further, the outgoing SSS chief said his resignation is a “matter of delicadeza.”
“Hindi naman ito (This is not) strictly resignation. Nag-expire na ‘yung term ko kasi (My term expired because) I was appointed under the old law.”
He added that he will not recommend people who will next take the position as it is the prerogative of the President.
“I will leave that to the President,” Mr. Dooc said.
Mr. Dooc joined the pension fund in November 2016 after serving as Insurance Commissioner starting 2011. Under his watch as the chief of the Insurance Commission, he led the enactment of the Revised Insurance Code of 2012. — K.A.N. Vidal

Firefox maker fears DarkMatter ‘misuse’ of browser for hacking

WASHINGTON — Firefox browser-maker Mozilla is considering whether to block cybersecurity company DarkMatter from serving as one of its internet security gatekeepers after a Reuters report linked the United Arab Emirates-based firm to a cyber espionage program.
Reuters reported in January that DarkMatter provided staff for a secret hacking operation, codenamed Project Raven, on behalf of an Emirati intelligence agency. The unit was largely comprised of former US intelligence officials who conducted offensive cyber operations for the UAE government.
Former Raven operatives told Reuters that many DarkMatter executives were unaware of the secretive program, which operated from a converted Abu Dhabi mansion away from DarkMatter’s headquarters.
Those operations included hacking into the internet accounts of human rights activists, journalists and officials from rival governments, Reuters found. DarkMatter has denied conducting the operations and says it focuses on protecting computer networks.
While Mozilla had been considering whether to grant DarkMatter the authority to certify websites as safe, two Mozilla executives said in an interview last week that Reuters’ report raised concerns about whether DarkMatter would abuse that authority.
Mozilla said the company has not yet come to a decision on whether to deny the authority to DarkMatter, but expects to decide within weeks.
“We don’t currently have technical evidence of misuse [by DarkMatter] but the reporting is strong evidence that misuse is likely to occur in the future if it hasn’t already,” said Selena Deckelmann, a senior director of engineering for Mozilla.
She said Mozilla was also considering stripping some or all of the more than 400 certifications that DarkMatter has granted to websites under a limited authority since 2017.
Marshall Erwin, director of trust and security for Mozilla, said the Reuters Jan. 30 report had raised concerns inside the company that DarkMatter might use Mozilla’s certification authority for “offensive cybersecurity purposes rather than the intended purpose of creating a more secure, trusted web.”
DarkMatter did not respond to a Reuters request for comment. The UAE embassy in Washington also did not respond to a request for comment.
In a February 25 letter to Mozilla, posted online by the cybersecurity company, DarkMatter CEO Karim Sabbagh denied the Reuters report linking his company to Project Raven. “We have never, nor will we ever, operate or manage non-defensive cyber activities against any nationality,” Sabbagh wrote.
Websites that want to be designated as secure have to be certified by an outside organization, which will confirm their identity and vouch for their security. The certifying organization also helps secure the connection between an approved website and its users, promising the traffic will not be intercepted.
Organizations that want to become certifiers must apply to individual browser makers like Mozilla and Apple. Mozilla is seen by security experts as a respected leader in the field and particularly transparent because it conducts much of the process in public, posting the documentation it receives and soliciting comments from internet users before making a final decision.
DarkMatter has been pushing Mozilla for full authority to grant certifications since 2017, the browser maker told Reuters. That would take it to a new level, making it one of fewer than 60 core gatekeepers for the hundreds of millions of Firefox users around the world.
Deckelmann said Mozilla is worried that DarkMatter could use the authority to issue certificates to hackers impersonating real websites, like banks.
As a certification authority, DarkMatter would be partially responsible for encryption between websites they approve and their users.
In the wrong hands, the certification role could allow the interception of encrypted web traffic, security experts say.
In the past Mozilla has relied exclusively on technical issues when deciding whether to trust a company with certification authority.
The Reuters investigation has led it to reconsider its policy for approving applicants. “You look at the facts of the matter, the sources that came out, it’s a compelling case,” said Deckelmann. — Reuters

Know your pork and how to cook it

WHEN preparing a pork dish, it’s important to choose the right cut of meat to go with it, but with so many different cuts available, it’s easy to get overwhelmed. Robina Farms Premium Fresh Meat has come up with a guide on which cut is best for what kind of dish, plus a few suggestions on how to get creative.
KASIM
One of the most common and versatile cuts of pork, kasim (pork shoulder) has layers of fat and litid (sinew), making it ideal for slow cooking and suited for most pork dishes like adobo, menudo, and sinigang (meat/chicken cooked in vinegar; a stew of pork and sliced liver in tomato sauce, carrots, potatoes; sour soup).
Recipe Recommendation: Get creative with pork shoulder by roasting it whole on low heat for an extended period of time. With layers of fat keeping it moist, cooking it low and slow allows the flavors to seep in, resulting in the perfect roast for pulled pork.
TENDERLOIN
From the same area as the pork loin, the tenderloin is, as its name suggests, the most tender of all cuts of pork. It also has the mildest flavor because of how lean it is, and benefits from lots of seasoning. It’s best cooked and treated like steak — grilled or pan-fried.
Recipe Recommendation: Make an alternative to chicken fingers by breading and frying tenderloin strips and pairing it with a honey mustard dip, or use it as a substitute for beef in a garlicy salpicao (a quick beef stir-fry dish).
RIBS
The row of bones surrounding the loin, the ribs are located closer to the belly while those closer to the backbone are the more tender baby back ribs. Ribs are very flavorful on their own, and are best enhanced by charred flavors when they are barbecued.
Recipe Recommendation: Put a unique spin on barbecued ribs by adding coffee grounds to the dry rub.
LIEMPO
A definite crowd-pleaser, the liempo or pork belly is the fattiest and most flavorful cut with alternating layers of meat and fat. It can be used interchangeably with kasim for a more flavorful and fatty pork dish.
Recipe Recommendation: Level up the classic liempo by rolling a whole pork belly into a log and filling with aromatics to make the Italian roast pork dish porchetta. This distributes the flavors more evenly throughout the meat, and creates a juicy roast with uniform layers of fat and a crispy skin.
PIGUE
The pigue (ham) is the second most versatile pork cut. It can be used in any of the same dishes as its leaner brother, kasim, and is also best for slow cooking. The pigue is where we get the ham.
Recipe Recommendation: Put a spin on basic adobo by adding coconut milk and allowing it to cook down to a thick sauce.
PATA
The underrated pata (hock) can be used for a wide variety of dishes that otherwise require general-purpose cuts. While it is not fatty, it gets tons of flavor from the layers of skin and litid surrounding it. It is commonly used for crispy pata, and the braised pata tim.
Recipe Recommendation: Pata slices can easily substitute for cubed meat in pork nilaga (boiled pork soup) or sinigang. When it is deboned and chopped, it can also replace the hard-to-find maskara (face) for sisig (sizzling chopped pig’s face).

Land Bank of Taiwan to set up PHL representative office

THE BANGKO SENTRAL ng Pilipinas (BSP) has approved the entry of another Taiwanese bank into the Philippines, marking broader presence of these foreign lenders here.
BSP Deputy Governor Chuchi G. Fonacier said the Monetary Board approved last month the opening of a representative office of the Land Bank of Taiwan.
Ms. Fonacier said the state-owned lender secured the BSP’s approval during the Monetary Board’s Feb. 14 meeting.
Land Bank of Taiwan was put up in 1946 originally to facilitate land policies post-World War II. Its operations later on focused on real estate and agricultural credit.
The Taipei-based lender also runs seven branches in Singapore, China, Hong Kong, and the United States.
The bank joins 13 other offshore banks running representative offices in the Philippines. This means their operations are limited to marketing the products and services of their home unit, as they cannot offer actual banking services or process transactions for clients based here.
The Bank of Taiwan, another Taipei-based government bank, opened its representative office in Manila last Jan. 31.
Apart from this, five other Taiwanese banks also opened full branches in the country over the last four years: Cathay United Bank, Yuanta Commercial Bank Co. Ltd., First Commercial Bank, Hua Nan Commercial Bank Ltd., and the Chang Hwa Commercial Bank, Ltd.
They form part of 12 offshore lenders who have forayed into the Philippine market following the signing of Republic Act 10641 in 2014. The law lifted the old limit that allowed only 10 foreign-owned banks to operate in the country at any given time.
The BSP has noted strong interest in the local market among foreign banks. Ms. Fonacier previously said some banks are also following big corporate clients abroad who are now doing business here. — Melissa Luz T. Lopez

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