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Google rolls out enhanced Play Protect service in PHL

YVES GONZALEZ, head of government affairs and public policy at Google Philippines, discussed the enhanced Google Play Protect service at the launch event on Feb. 11.

GOOGLE has launched in the Philippines its enhanced Play Protect feature, which blocks the download and installation attempts of suspicious apps or malware to help protect users from fraud.

“In the Philippines, we all know that financial frauds and scams are a serious and growing problem, and one of the key culprits is downloading sideloaded apps,” Yves Gonzalez, Google Philippines public policy and government relations head, said at a media briefing on Feb.  11 (Tuesday).

Feb. 11 marked the global celebration of Safer Internet Day this year.

Many sideloaded apps, which come from unofficial sources online, are often disguised as harmless quick loan apps or instant reward games, Mr. Gonzalez said.

“Based on what we are seeing especially in markets like the Philippines, bad actors use sideloading to try to get into the phones of the users,” he added.

The Enhanced Google Play Protect feature provides real-time scanning and blocks install attempts of sideloaded apps that could steal users’ money or personal information, Google Philippines said. It was earlier rolled out in India, Thailand, Singapore, Brazil, and Vietnam.

“This enhancement is designed to address malicious apps that leverage various methods such as AI to avoid detection,” it said.

By default, Enhanced Google Play Protect is already switched on in every Android device in the Philippines.

As of Feb. 10, Enhanced Google Play Protect has blocked over 3.2 million high-risk install attempts in the Philippine market, Google Philippines said.

“If each of these blocked installs resulted in just a single peso lost due to security breach, that’s already P3.2 million saved,” Mr. Gonzalez said.

The enhanced service is expected to protect the older age bracket as well as younger users who are seeking extra income that are likely to fall prey to phishing links, Mr. Gonzalez told BusinessWorld.

“Products play an essential role in protecting people from security threats and fraud. Launching these new protections will help us stay ahead of new attacks,” he said. — Beatriz Marie D. Cruz

5 lessons from Trump’s tariff misadventure

CLEAVON LITTLE in Mel Brooks Western farce Blazing Saddles

IN THE CLASSIC Mel Brooks Western farce Blazing Saddles, Cleavon Little’s character faces a mob of townspeople angry at his appointment as sheriff of Rock Ridge. Thinking fast with a hysterical display of split personality, Little’s character — Sheriff Bart — puts a gun to his head and holds himself “hostage” until the befuddled townsfolk disarm, allowing him to slip away.

For two weeks, President Donald Trump held the economic equivalent of holding himself “hostage” by threatening 25% tariffs on Canada and Mexico and 10% tariffs on China. And then suddenly, most were gone in a blaze. The White House paused the two larger proposals on Canada and Mexico. The tariffs on China went into effect, but talks are apparently just over the horizon.

What did we learn?

What has gone into effect is small yet regressive… 

The full three-country tariff package Trump initially proposed would have cost the average American household $1,250 a year and added almost a percentage point to prices, according to analysis from the nonpartisan Budget Lab at Yale. Presumably, if negotiations with Canada and Mexico fail in a month, the full slate would be back on the table. But for now what actually went into effect was more modest. The 10% China tariffs on their own will cost $223 per household annually and will add between 0.1 to 0.2% to prices

Not every household experiences the average hit the same. In the short-run, tariffs are regressive taxes, meaning they hurt working-class and middle-income families more than higher-income families, since in general the lower your income the greater the share of your income you consume and the larger portion of your budget you devote to imports. The consumer loss from the 10% China tariffs next year for households in the second decile by income are more than twice as much as for the top decile.

…but more tariffs are coming.

Markets should not take comfort from the swiftness of the pause in the Canada and Mexico tariffs. President Trump has set ambitious goals for tariff revenue: Both to help offset the cost of extending the Tax Cuts and Jobs Act of 2017 (TCJA) that expires later this year and as a replacement for some income tax revenue.

But the 10% China tariffs only raise $400 billion over 10 years conventionally scored, and even less when accounting for the dynamic effects of the economic damage they do. All told, that’s less than a tenth of the cost of extending the TCJA and could only replace 1% of expected income tax revenues over the next 10 years. To make serious headway on either goal, the Trump administration will need to come up with more tariff proposals. What’s uncertain is whether the additional revenue will come from tariffs on countries we’ve already dealt with (Canada, Mexico, China) or others (the European Union).

Other countries will retaliate, though not necessarily in kind. 

It was uncertain whether and to what extent other countries might retaliate against US tariffs. Every affected country, including the US, would be poorer because of President Trump’s tariffs. But Canada and Mexico fare substantially worse, with the damage exacerbated when they broadly retaliate tit-for-tat against the US. The Budget Lab’s modeling shows Canada’s long-run economy is 1.3% smaller without retaliation and 5% smaller with retaliation.

Retaliation is also an important consideration from the US perspective because it mitigates the dollar’s appreciation, which would otherwise help blunt the tariff cost for American consumers but hurt exporters.

As it turned out, all three countries had lists of retaliatory tariffs. So while the US tariffs were broad-based on all imports, the planned retaliatory tariffs from Mexico and Canada and the actual response from China were far more surgical and fell short of covering all US exports. This may be because Canada, Mexico, and China wanted to only gradually escalate tariffs and give trade talks a chance to work. The choices of products also suggest a strategy of inflicting maximum pain on the US while minimizing pain to consumers back home. The fact that the retaliation was not as broad as the US action suggests that we can expect some net dollar appreciation from future tariff tussles.

So far, there’s no broader strategy around containing dollar strength. 

Some had wondered whether the appointments of people knowledgeable of currency markets — people such as Scott Bessent as US Treasury Secretary and Stephen Miran at the White House’s Council of Economic Advisors — might have signaled the administration had a careful strategy to temper gains in the dollar that might come from implementing tariffs. After all, the stronger dollar resulting from a tariff hurts American manufacturers, which runs counter to President Trump’s agenda. No such coordinated strategy was on display last week.

The Trump administration is sensitive to markets. 

The White House backed down from its Canada and Mexico tariffs while accepting a few new concessions from the two countries. Mexico President Claudia Sheinbaum primarily announced border measures the country had already undertaken in prior administrations. Sheinbaum even got the US to help stem the flow of weapons into Mexico. Canada Prime Minister Justin Trudeau avoided President Trump’s tariffs almost entirely by reiterating border funding announcements his government had made in December.

Why did the White House back down so easily? The likeliest explanation is the reaction in financial markets. The benchmark S&P 500 Index was down almost 2% intraday last Monday, with automaker stocks falling even more and expectations of even more losses. The decision to pause tariffs during the day did partially reverse the declines, keeping the day’s loss to a manageable 0.8%. The S&P 500 almost fully recovered on Tuesday.

In one sense, that the White House heeded the reaction in markets and sought a face-saving way out of a crisis of its own making is reassuring. But remember No. 2 above: The administration is likely to try again for higher tariffs despite the market warnings. That means, once again, perhaps soon, the country will have a loaded economic gun to its own head. As the citizens of Rock Ridge might say, “Won’t somebody help that poor man?”

BLOOMBERG OPINION

Atome Financial secures BlackRock, InnoVen in $80-million credit facility

SINGAPORE — Singapore-based financial technology firm Atome Financial said on Wednesday it had secured a private credit fund managed by asset manager BlackRock and venture debt provider InnoVen Capital in an $80-million private credit facility.

Atome Financial first announced the three-year senior term loan facility including from EvolutionX, a debt financier jointly set up by Singaporean bank DBS and the country’s state investor Temasek, in June last year.

The facility will help grow the company’s products, partnerships and regional portfolio in Southeast Asia markets including Singapore, Malaysia, the Philippines and Indonesia, Andy Tan, Atome Financial’s chief commercial officer, said in a statement.

Atome Financial added in the statement that it had achieved full-year profitability in 2024, including revenue growth of 45% year on year to $280 million, and expected the positive momentum to continue into 2025. — Reuters

Dining In/Out on Valentine’s

WE’VE GOT you covered this Valentine’s weekend, from nights at home, out, or even out of town.

City of Dreams

ROMANCE fills the air at City of Dreams Manila (COD). The Manila outpost of the globally renowned restaurant founded by celebrity chef Nobu Matsuhisa, located at Nobu Hotel Manila, presents a five-course Valentine’s Day dinner menu on Feb. 14 for P6,000 net person. The menu comes with a welcome drink starts with the chef’s choice of appetizer followed by a selection of Nobu Canapés. An assorted selection of Nobu sushi served along with a clear soup of ginger, oyster and negi (leeks) come after. The dinner goes a notch higher with the next course of Hokkaido Scallops with vanilla miso, foie gras and sesame seeds; and Seared Wagyu Beef with onsen tamago (Japanese-style soft boiled egg), dried miso garlic chips, and glazed sake-mirin reduction. A dessert of Delicate Chocolate Heart with strawberry and rum mousse, red velvet cake and mixed berry sorbet finishes the meal. In Nobu fashion, the occasion would cater to celebrations for two, a family affair, or single friends getting together. Nobu Manila is open from 5 to 11 p.m. on Valentine’s Day.

Meanwhile, Crystal Dragon impresses with a four-course set menu available from Feb. 13 to 14 for lunch and dinner. The menu, which comes with a glass of sparkling wine, has an appetizer of premium Ostra Regal Oyster served with foie gras toast, followed by an Alaskan King Crab Bisque, and continues with a Heritage Braised Pork Belly and Signature XO Lobster Thermidor. Providing conclusion to the meal is a dessert of Mango Pomelo Lava Chiffon. The set menu is priced at P5,500 net per person for a minimum order for two persons.

Haliya, COD’s modern Filipino restaurant, celebrates with an “Araw ng mga Puso” special menu available for dinner on Feb. 14. The offer, priced at P9,000 net for two persons, comes with a three-course menu, a variety of confections at the dessert station, and two rounds of cocktails of the guest’s choice.

Café Society spoils guests with its array of thoughtfully packaged sweet indulgences. Available from Feb. 11 to 14, the lineup of chocolates, cakes, pastries, and other confections that are perfect for gifting to loved ones. These include a Valentine Heart in a box, Valentine Flowers in bloom, and Heart of Roses in a pot. Pair the confections with an array of flower arrangements available at the café, with a choice of a long-stemmed rose, a bouquet of three, six, or 12 roses, if not a fuller spring bouquet.

Finally, acclaimed actor and singer Ian Veneracion performs in a one-night-only Valentine’s weekend concert on Feb. 15 at 8 p.m. at Wave, Nobu Hotel Manila’s poolside restaurant. Seat reservations are offered with consumables at P3,000 net per person. For inquiries and reservations, call 8800-8080 or e-mail guestservices@cod-manila.com, or visit www.cityofdreamsmanila.com.

Newport World Resorts

EMBARK on a Valentine’s escape designed for connection at The Whisky Library. From Feb. 10 to 16, experience Just the Two of Us, a sweet cocktail made with Flor de Cana 7 Years Rum, Flor de Cana Coco, passionfruit, mango, lime, pineapple, and mint; priced at P900++. For a tropical twist on a classic favorite, savor Salud, a Tequila-based drink featuring Jose Cuervo Silver Tequila, kiwi fruit, lime, agave, and green mango. The drink serves four guests for P1,700++.

Over at Gordon Ramsay Bar & Grill Philippines, mark the sweet occasion with a treat — the 64% Manjari Tart is making its Philippine debut this Valentine’s. For drinks, the La Vie En Rose is a delicate blend of Velvet Falernum, passion fruit, homemade cashew orgeat, and butterfly pea syrup. For something more daring, the Be Mine drink contains Four Pillars bloody shiraz gin, homemade strawberry and cacao wine, and Mancino Vermouth Sakura. For inquiries and table reservations, call 0917-147-6576, or e-mail info@gordonramsayrestaurants.com.ph.

At Marriott Manila, wine and dine with its All Ways Valentines at Marriott Café. Order ahead for a Short Bone-in Tomahawk MB2 steak set for Valentine’s. The special date menu includes seafood barilla tagliatelle pasta, homemade ratatouille, rich red wine jus, and more, for P8,000 net (advance orders required). For a lavish feast, enjoy a Valentine’s Dinner Buffet on Feb. 14 at P3,688 net. Buffet highlights include 43-hour sous vide/roast Wagyu steamed ship steak, grass-fed hi-grade striploin, roasted suckling pig (porchetta), USDA corn-fed tenderloin, and Spiced marinated roast beef rump. Complete the experience with a round of sparkling wine, unlimited sangria, and red iced tea. For inquiries and reservations, contact 0917-584-9650. Sweet lovers can also enjoy a selection of confections, including the Valentine Fondant Cake (P2,500 net), whole cakes (P1,500 net), and mini cakes (P350 net), also available until Feb. 16. For inquiries and advance orders, contact 0917-825-2896.

At Yamazato, in Hotel Okura Manila, immerse in the art of Omotenashi — Japanese hospitality at its finest — with the exclusive Koibumi 2025: Sushi Omakase, offering a thoughtfully curated menu. Get a complimentary Tamnavulin Wine Series flight and name-engraved whiskey glasses for advanced reservations. This is available from Feb. 10 to 15, during lunch (11:30 a.m to 2:30 p.m) and dinner (5:30 to 9:30 p.m.) for P15,000++ per person.

For P25,000 net per couple at the Hilton Manila’s Valentine Poolside Soiree, the Premium Cabana includes a five-course meal, one bottle of Champagne, a bouquet of roses, a box of pralines, 10 Polaroid shots, butler service, and pet food. Alternatively, the Deluxe package is available for a starting price P10,000 net. For more information, call 0917-853-6112. Guests can also avail via Eat Drink Hilton Website: https://eatdrinkhilton.com/shop/hilton-manila/product/a-valentines-poolside-soiree-deluxe-package/. For more information on Newport World Resorts’ Valentine’s offers, visit www.newportworldresorts.com.

The Peninsula Manila

LAUNCH your love for each other high above the Manila skyline at The Peninsula Manila with the Old Manila x Air Taxi Fly & Dine Epic Date Helicopter Tour. This VIP-style private tour (a minimum of two guests, and a maximum of six) will take you on a romantic 15-minute helicopter journey of the iconic sites of Metro Manila where, as you fly high above the exciting landscape, you and your partner will enjoy quality time together making unforgettable memories. Upon your return, an indulgent six-course set dinner paired with a bottle of Peninsula Deutz Champagne awaits at Old Manila. To make the experience even sweeter, there will be a tin of Old Manila chocolate caviar pearls to take home. The chopper journey starts with a pre-departure at 4 p.m., departs at 4:45 p.m., then lands back for dinner at 6:30 p.m. It costs P19,880 per guest, inclusive of helicopter journey, dinner, Champagne, and taxes. A lower-priced option is at P8,200 per guest, inclusive only of dinner, a complimentary flute of Moscato d’Asti, and taxes.

On Feb. 14, from 7 to 10 p.m., The Lobby will transform into a romantic musical haven where lovers can enjoy a  four-course menu of Mosaic of Salmon and Tuna, Seafood Bisque, Grilled Angus Tenderloin or Maine Lobster, and a dessert of Rouge Craquelin. Guests booking a dinner table on Valentine’s Day will be serenaded by the acclaimed Battig Chamber Singers and Peninsula Strings. Music and Romance at The Lobby is P5,990 per guest, inclusive of taxes.

At Escolta from 6:30 to 10:30 p.m., a dinner buffet unfolds like a love letter written with Valentine-themed seasonal treasures. It’s at P4,490 per adult guest, inclusive of taxes, with an additional P1,500 when enjoying Escolta’s extensive selection of free-flowing wines (and at P2,290 per guest under 12).

Meanwhile, The Peninsula Boutique’s popping up at The Lobby with a display of chocolate hearts, love-inspired cakes, and armfuls of flowers, from 10 a.m. to 6 p.m. For inquiries or more information on dining at The Peninsula Manila on Valentine’s Day, call 8887-2888 ext. 6694, or e-mail diningPMN@peninsula.com.

New World Makati Hotel

THE New World Makati Hotel offers an intimate evening under the stars as the Rescue Bar presents “Love Under The Moonlight,” a special Valentine’s dinner on Feb. 14 and 15, with availability on Feb. 15 subject to demand. Guests can indulge in a curated menu featuring a seafood assiette with smoked prawn ceviche and sea urchin crème brûlée, a grill platter with lamb rack, Kurobuta pork loin, and US Angus beef ribeye, and a decadent dessert to share, paired with a glass of sparkling wine. Priced at P5,500 net per couple, this dining experience runs from 6 to 9 p.m.

Meanwhile Jasmine offers a romantic Chinese feast with two set menus at P2,388 net and P3,088 net per person, as well as an All You Can Eat Dimsum special menu for P2,288 net for dinner, which includes a glass of red or white wine. A special All You Can Eat Dimsum lunch will also be available for P1,988 net. Guests can enhance their dining experience with free-flowing non-alcoholic beverages for an additional P488 net or an alcoholic beverage package for an additional P788 net, which includes local beer, red, white, and sparkling wine.

At the newly reopened Café 1228, guests can enjoy an indulgent Valentine’s dinner on Feb. 14 or 15 at P3,500 net per person. The first two couples to book dinner will receive complimentary full-body massage treatments at Paradasia Spa, while the next three will enjoy foot massages.

Couples dining at any of the three outlets will receive an assortment of bonbons that they can enjoy right away, or savor at a later time. The Shop offers Valentine’s confections including the Strawberry Kiss Shortcake (for P1,500 for a whole cake and P300 for a petite version). The Cupid’s Love Box (P3,800 net) includes a whole Strawberry Kiss Shortcake, a choice of red or white wine, and 10 assorted Valentine truffles.

Lastly, The Lounge presents the Heart’s Delight Box, an Afternoon Tea offering available until Feb. 28, from 2 to 5:30 p.m. This selection includes three different petite cakes alongside 10 assorted Valentine truffles. Savory selections feature Mini Chicken Wellington and Pulled Beef Burgers with Caramelized Jalapeño Onion, complemented by a choice of infused homemade tea. Guests may also enjoy add-ons such as coffee or tea for P150 net or opt for sparkling and Champagne selections with prices ranging from P450 to P1,600 per glass. For bookings and inquiries, call 8811-6888.

Richmonde Hotel Ortigas

PAINT the town red at Richmonde Hotel Ortigas’ Richmonde Café on Valentine’s Day. On the menu are appetizers, salads, and desserts at the buffet spread, a choice of filet mignon or sea bass for the main course, and caramel-cured egg yolk sorbet as palate cleanser. Served with a glass of white or red wine or mocktail, this Valentine’s Dinner is priced at P2,598 net per person and is served from 7 to 10 p.m. Over at The Exchange Bar, love isn’t just for pairs but for parties of three for the special Trio Treats available for groups of three on Feb. 14. Priced at P1,650 net, get a drink-and-bar-chow set for three persons inclusive of three drinks each (local beer, featured cocktail, or non-alcoholic drink) and a bar chow platter good for sharing. For more information call 8638-7777, 0917-534-4352 (Richmonde Café) or e-mail stay@richmondeortigas.com.

Diamond Hotel

FEEL the love at Diamond Hotel Philippines with these Valentine’s dining specials. There will be a Valentine’s Day lunch buffet at Corniche on Feb. 14 for P3,880 net per person which comes with one round of red or white wine. A Valentine’s Day dinner buffet is available with two seatings: first seating (5-7 p.m.) is P3,880 net per person for a buffet with one round of red or white wine; and the second seating (8-10 p.m.) at P4,280 net per person for a buffet with one round of sparkling wine. Beyond Valentine’s Day itself, Corniche keeps the love flowing on Feb. 13, 15, and 16 with a special lunch and dinner buffet priced at P3,880 net per person with one standard drink.

Take your date to Yurakuen for a five-course Valentine’s dinner at P7,500 net for two persons on Feb. 14.

Meanwhile, The Lobby Lounge and Bar27 offer a four-course Valentine’s dinner inclusive of one round of red or white wine at P5,800 net for two persons and live musical entertainment.

To purchase vouchers for Valentine’s Day dining offers, visit onlineshopping.diamondhotel.com. For restaurant reservations, call 8528-3000 or e-mail restaurant_rsvn@diamondhotel.com.

Conrad Manila

ON THIS season of love, the Love by the Bay offer at Brasserie on 3 on Feb. 14 is priced at P2,900 net per person for lunch, and P3,988 net per person for dinner, inclusive of one round of sparkling wine, coffee or tea. Highlights include the cochinillo, premium carvings, oysters, charcuterie, and a live band performance.

This Valentine’s weekend, couples can indulge in an exceptional dining experience, as it coincides with the opening of the 12th Philippine International Pyromusical Competition at the Mall of Asia Complex. The fireworks light up the sky, as guests dine at Brasserie on 3’s buffet. Guests can step outside to the restaurant’s veranda and enjoy the dazzling fireworks with a standing view. The Bursts of Flavors and Fireworks buffet will be held every Saturday from Feb. 15 to March 15, with a dinner rate at P3,600 net per person. There is a special rate at P2,880 net per person for bookings fully paid 72 hours before dining reservations.

At China Blue by Jereme Leung, the Dine with Love menu, available from Feb 14 to 15, is priced at P4,998++ per person (minimum of two persons). This features Crispy honey barbecue pork belly, Wagyu beef with sweet Chinese black vinegar sauce and pistachio, Braised fish-shape seafood dumpling with sour salted vegetable broth, and Steamed snow fish and mushroom egg white with black olive garlic sauce. To learn more call 8833-9999 or e-mail conradmanila@conradhotels.com.

Richmonde Hotel Iloilo

AT RICHMONDE’S Iloilo branch, let The Granary’s Wine and Dine Valentine’s Dinner Buffet is highlighted by the cochinillo, turkey, and braised short plate at the carving table, assorted grilled skewers, tapas bar, and fry bar at the action stations, and lamb paella at the hot section, plus many more. Priced at P1,850 net per person and P2,150 net if inclusive of a bottle of wine, this feast for friends, families, and lovers is served from 6  to 10 p.m on Feb. 14. Children six to 12 years old get 50% off while it’s free dining for children five years old and below. For inquiries and reservations, call (6333)328-7888 / 0917-563-3558 (The Granary), or e-mail stay@richmondeiloilo.com, or log on to www.richmondehoteliloilo.com.ph.

Discovery Resorts

COUPLES looking for a dreamy island escape can look forward to their own slice of paradise at Discovery Boracay. Book All About Love, a three-night stay offer and enjoy luxurious perks designed for romance, including a spa experience, a romantic dinner, and special touches. On Feb. 14, celebrate love with a five-course dinner for two at Indigo Restaurant. End the night with a box of chocolate pralines and a toast, available for P4,900+ for two persons. All February long, Forno Osteria will serve Unlisteak: unlimited USDA Top Blade steak, grilled in a Josper oven and served with sides and sauces, available for P2,990+ per person. The Sands’ Weekend Buffet is available for P1,499+ per person.

At Discovery Coron, a five-course dinner will be served at the Firefish Restaurant for P2,025 net per person. Add P1,500 to dine under the stars with a Moonlit Dinner setup by the beach. Discovery Coron’s newest dining destination, Sinag, offers a special three-course dinner for two, at P2,025 net per person.

For reservations, e-mail reservations@db.discovery.com.ph or call 7720-8888/+6336-288-9689 for Discovery Boracay and e-mail reservations@dc.discovery.com.ph or call 0917-815-8678 or 7719-6971 to 73 for Discovery Coron.

Tatatito

TATATITO Home Kitchen is celebrating Valentine’s Day with the Burnt Basque Queso de Bola Cheesecake, the latest addition to their menu. Tatatito Home Kitchen is located at the OPL Building on Dela Rosa Street corner Carlos Palanca in Makati. The restaurant operates from 7 a.m. to 10 p.m. on Mondays through Thursdays, Saturdays, and Sundays, and until 11 p.m. on Fridays. Reservations can be made online at https://book.bistrochat.com/tatatito or by calling 0917-862-4000 or 8809-8055.

Dylan Patisserie

JUST as love takes many forms, so do the flavors in this year’s exclusive Dylan’s Valentine collection. These include the Strawberry Le Baiser Cake (vanilla sponge, white chocolate mousse, and strawberry chunk compote), Valentine Macarons (strawberry ganache, white chocolate couverture, and crushed strawberries), the Valentine Cherish Muffin (with cream cheese filling and pink garnish). Other offerings include the Red Velvet Croissant and the Valentine Amore Sandwich. For more information, call 8777-2999 or 0917-8772999, or visit www.dylanpatisserie.com. Their branches are in Jupiter St., Makati, Parqal Mall Macapagal Ave., and SM North EDSA.

Cravings

AVAILABLE from Feb. 13 to 16 at Cravings Maginhawa and on Feb. 13 and 14 at Cravings Alabang, a special Valentine’s menu begins with unlimited soup and salad, and three choices for the main course. There are Steak and Frites (P1,350), Surf and Turf (P1,500), and Louisiana Shrimp Skewers (P850). To end the meal on a sweet note, there is the signature Tiramisu, perfect for sharing. Cravings also introduces two matcha-inspired cakes, new additions to its lineup of desserts: Matcha Tiramisu (P1,800) and Strawberry Matcha Cake (P1,500). For gifting there is the S’mores Trio (P750/P850 with a special bag). For inquiries and orders, contact 0906-511-4772 and 0920-413-7864. Cravings is located at 28 Maginhawa St., QC and at the Insular Life Corporate Center, Filinvest City, Alabang.

Pizza Hut

PIZZA HUT is making Valentine’s cheesier with four new creations and three new combos. There’s the new Stuffed Crust Heart Pizza, a heart-shaped pizza with a cheese-stuffed crust, available in all flavors including those from the Lovers Line (e.g. Cheese Lovers, Pepperoni Lovers), Supremes Line (e.g. Hawaiian Supreme, Bacon Supreme); and Specialty Line (e.g. Meat Lovers, Seafood Supreme), starting at P499. Pizza Hut has also cooked up a new creation: the new Five Cheese Bliss Pizza, priced at P439. It is made with mozzarella, cheddar, and Parmesan on top along with dollops of cream cheese, white cheese chunks, and a creamy milk drizzle. As for drinks, there’s the new Frozen Hot Choco, priced at P189, and the new Hot Choco, priced at P149, made with Ghirardelli chocolate. The drinks are available for a limited time only in select stores nationwide. For the combos, there’s  Cupid’s Treat for two (P749) with one Regular Hawaiian Stuffed Crust Pizza, one Regular Spaghetti Bolognese, one Regular Spaghetti Carbonara, and two servings of Pepsi. One can upgrade to the new Frozen Hot Choco or Hot Choco for an additional P150. Then there’s Cupid’s Treat for 4, priced at P1,599. It comes with one Regular Hawaiian Stuffed Crust Pizza, one Regular Five Cheese Bliss Pizza, one Family Pasta, and one Pepsi Pitcher for dine-in or a 1.5L Pepsi bottle for takeout or delivery. Finally, there’s the Cupid’s Pizza Trio, priced at P1,199. It comes with one Regular Hawaiian Supreme Heart Stuffed Crust Pizza, one Regular Pepperoni Lovers Heart Stuffed Crust Pizza, and one Regular Five Cheese Bliss Pizza. Visit your nearest Pizza Hut branch, order for delivery via the (02) 8911-1111 hotline, www.pizzahut.com, the Pizza Hut mobile app, GrabFood and foodpanda.

Gringo

THIS Valentine’s Day, Gringo introduces two special treats. Buffalo Mozzarella Bites are paired with a sour cream truffle dip. Complementing this appetizer is the Tropical Sangria. These Valentine’s offerings pair perfectly with Gringo’s bestsellers which are ideal for groups of four. Guests can also bring Gringo’s signature flavors home with the BFF Sauces Set.  Gringo offers catering, bulk orders, and delivery through Gringo.ph, GrabFood, and Foodpanda.

SM Prime boosting RE use with 7.5-MWp solar deployment

SM City in Santa Rosa, Laguna — SMSUPERMALLS.COM

SM PRIME Holdings, Inc. will install solar panels with a total capacity of 7.5 megawatts peak (MWp) on the rooftops of four SM malls, supporting the property developer’s sustainability initiatives. 

The malls involved in the solar panel initiative are SM City Lucena, SM City Sta. Mesa, SM City Tarlac, and SM City East Ortigas, SM Prime said in a regulatory filing on Wednesday.

SM Prime signed an agreement with solar panel provider TeaM (Philippines) Energy Corp. (TPEC) to install over 33,000 square meters of solar panels on the rooftops of the four malls. TPEC is the retail subsidiary of TeaM Energy Corp. 

Construction will begin in March, while operations are set to start by year-end.

The solar panels will generate about 11,000 megawatt-hours (MWh) of clean energy annually, supplying approximately 16% of each mall’s electricity needs. These will also reduce carbon dioxide emissions by 4,400 metric tons per year. 

“Integrating renewable energy (RE) sources into our operations is part of our long-term strategy to achieve our net-zero goals, enhance operational efficiency, and contribute to a more sustainable business,” SM Prime President Jeffrey C. Lim said.

TPEC will use bifacial solar panels that capture sunlight from both sides and have an annual degradation rate of 0.4%.

“We are committed to delivering high-performance solar solutions that meet international engineering standards. Through regular monitoring and preventive maintenance, we will ensure these systems operate at peak efficiency for the entire 20-year contract period,” TPEC President Tristan Taghoy said.

TeaM Energy is a joint venture between Japan’s Marubeni Corp. and Tokyo Electric Power Co.

SM Prime said 44 of its 87 malls in the Philippines are already equipped with solar photovoltaic systems, with a total capacity exceeding 50 MWp.

Meanwhile, in a separate disclosure, SM Prime said it had received the permit to sell from the Securities and Exchange Commission for its P25-billion bond offer.

The offer period began on Wednesday and will run until Tuesday, Feb. 18.

The issuance has a principal amount of P20 billion, with an oversubscription option of up to P5 billion. It consists of Series Y bonds priced at 6.0282% due in 2028, Series Z bonds priced at 6.2113% due in 2031, and Series AA bonds priced at 6.4784% due in 2035.

This marks the second tranche of SM Prime’s P100-billion shelf-registered fixed-rate bond program.

SM Prime shares rose by 0.43% or ten centavos to P23.40 apiece on Wednesday. — Revin Mikhael D. Ochave

DeepSeek may face further regulatory actions, EU privacy watchdog says

THE DeepSeek logo is seen in this illustration taken on Jan. 29, 2025. — REUTERS

BRUSSELS — DeepSeek may face more actions from national regulators in the future, Europe’s privacy watchdog said on Tuesday, underscoring the bloc’s concerns about the rising popularity of the cheap Chinese artificial intelligence (AI) startup.

National privacy regulators discussed DeepSeek at a monthly meeting on Tuesday, after Italy blocked the chatbot over lack of information on its use of personal data and as enforcers in France, the Netherlands, Belgium, Luxembourg and other countries questioned DeepSeek on its data collection practices.

“Several DPAs (data protection authorities) have already started actions vis-a-vis DeepSeek and there may be further actions in the future,” a spokesperson for the European Data Protection Board (EDPB) said in an e-mail after the meeting.

The concerns prompted the EDPB to broaden the scope of a task force created in April 2023 to foster cooperation and exchange information on enforcement related to AI.

The task force had originally focused only on Microsoft-backed OpenAI’s ChatGPT.

“In addition, the EDPB members underlined the need to coordinate DPAs’ actions regarding urgent sensitive matters and for that purpose will set up a quick response team,” the spokesperson said.

Europe has been in the forefront of protecting its citizens’ privacy rights while its General Data Protection Regulation, which came into effect in 2018, is the toughest privacy law in the world. — Reuters

K+12 (-2) = ?

PHILIPPINE STAR/EDD GUMBAN

I went to a technical school and graduated high school in the 1980s with two diplomas: one academic and the other technical. The latter is the present-day equivalent of a TESDA* diploma for vocational education. My four years in high school were enough to qualify me for university or immediate employment as an electronics technician. In short, at 16, I was already employable.

I chose university, of course. Most high school graduates did, as long as their families could afford it. Fortunately, I was accepted into the State University. Back then, an 18-unit semester in Diliman cost just a little over P1,000. But while tuition was cheap, the education was not.

I can judge things only from experience, and in my case, education-wise, I would like to think things went well. I was never academically prolific, but I passed. I graduated, though not on time, and entered the workforce at 22. I did not need an extra two years in high school to “make it” successfully out of the school system.

My father finished high school in the 1950s, a proud graduate of the Victorino Mapa High School in Manila. His teachers were among the last of the so-called Thomasites. Practical arts were part of their regular high school curriculum. They were taught gardening, carpentry, electrical work, automotive mechanics, and retail merchandising, among other subjects.

In high school, he said, he and his classmates in electricity could build their own electrical transformers. After public high school, those who could not afford university were already employable as skilled workers — courtesy of their public high school education. Some opted to further hone their skills in trade schools or through apprenticeships.

For my peers and me, we were similarly employable as high school graduates, armed with technical diplomas. We could work as electronics or electrical technicians, automotive mechanics, machinists in machine shops, or draftsmen in architectural and engineering firms. We could all produce technical or mechanical drawings, thanks to two years of drafting studies. We had also undergone general shop work, including carpentry, metalwork, and basic electrical wiring.

Having grown up in such an environment, I was never supportive of several government initiatives in education in recent years: the transition to K-12 and the introduction of Senior High School (SHS), the removal of the General Education program in colleges, full free tuition in state universities, and the shift of the school opening to August from June, among others.

I never believed that adding two more years to high school, removing General Education subjects from colleges, or shifting the school calendar to August-May would improve basic education and help Filipinos perform better in school and life. Incidentally, school opening reverts to June this coming school year.

In this context, I support House Bill No. 7893, which proposes making SHS optional and allowing students to take a government-administered exam that could exempt them from SHS. The bill seeks to amend Republic Act No. 10533, or the Enhanced Basic Education Act of 2013, which legislated the K-to-12 program.

However, my support is partial since the proposed exemption would only allow students to skip SHS and move on to technical-vocational education. It does not exempt those intending to enter university. In other words, if one wishes to go to university, Grades 11 and 12 remain mandatory. This requirement stems from the removal of General Education subjects from higher education, which previously covered non-major subjects during the freshman and sophomore years.

SHS exemption cannot be absolute due to how the K-12 program has been designed and its impact on higher education. Without Grades 11 and 12, university entrants might struggle with major subjects. Thus, a full exemption from SHS would require an overhaul of both K-12 and higher education curricula.

Lawmakers have concluded that graduates of the current education system are not well-prepared for work or university. Consequently, adjustments like HB 7893 are being considered. However, I believe the bill is misplaced. Instead of offering SHS exemption only for those pursuing technical-vocational education, the government should instead focus on enhancing basic education to make high school graduates employable.

Should the government push high school students toward a technical-vocational track by incentivizing them with SHS exemption? Skills-based training should not just be an escape route for those who cannot afford SHS or university or need to earn a living early. Exceptional students who qualify to skip SHS should instead be given scholarships to pursue higher learning, not merely redirected to skills-based training.

The country certainly needs more skilled workers. To some extent, the curriculum should align with industry needs. However, filling quotas for skilled workers — whether for local or overseas employment — should not come at the expense of the best and brightest public high school students who cannot afford SHS or university. Instead of pushing them into skills training, they should be given opportunities to pursue higher education.

In my opinion, one approach is to integrate basic education with technical-vocational programs — essentially combining K-12 with TESDA. The government should aim to make every public high school graduate a “skilled” worker with a high degree of proficiency in a particular trade. The goal should be to ensure that every public high school graduate — whether in four or six years — is both academically and technically certified and employable.

To complement this, the government should expand on-the-job training and apprenticeship programs, enhance partnerships with industries and trade associations, and establish more cooperative education initiatives. There should be Continuing Education programs for skilled workers as well. And assessment and certification processes should be upgraded to create a reliable and credible grading and evaluation system for skilled workers.

Speaking from experience, this is not impossible. My peers and I, and many people before and after us, all underwent a combined education program, and many can attest that a “double curriculum” — academic and technical — can work. Post-war public-school programs were also designed this way, recognizing the growing economy’s need for skilled workers.

Artificial intelligence and automation can only replace skilled workers to a certain extent. The economy will always require people with technical skills, though the demand will depend on the type of skills available and their level of proficiency. Basic education and skills training remain the strongest foundation for sustaining and expanding these workforce needs.

* Technical Education and Skills Development Authority

 

Marvin Tort is a former managing editor of BusinessWorld, and a former chairman of the Philippine Press Council

matort@yahoo.com

Novelist Salman Rushdie faces his accused stabber in New York courtroom

SALMAN RUSHDIE — COMMONS.WIKIMEDIA.ORG

MAYVILLE, New York — Salman Rushdie spoke calmly and with occasional dry humor as he testified on Tuesday against the man accused of trying to murder him, the first time the two have been in the same place since the 2022 knife attack on the novelist onstage at a New York arts institute.

Hadi Matar, 26, has pleaded not guilty to charges of second-degree attempted murder and second-degree assault.

Mr. Rushdie, 77, walked into the courtroom dressed in a dark suit, white shirt, and gray tie. Two sheriff’s deputies stood at alert by Mr. Matar, seated at a table with his team of public defenders. The right lens of Mr. Rushdie’s spectacles was blacked out, masking the eye, which his attacker’s knife had pierced through to the optic nerve.

“I was aware of this person rushing at me from my right hand side,” Mr. Rushdie testified in a courtroom in Mayville, a few miles north of the Chautauqua Institution, the lakeside rural arts haven where he was attacked on Aug. 12, 2022.

The controversial writer, for decades the target of death threats, had been seated onstage at the institution’s outdoor amphitheater that morning, about to give a talk on keeping writers safe from harm.

“He hit me very hard,” Mr. Rushdie said. “Initially, I thought he had punched me. I thought he was hitting me with his fist. But very soon afterwards I saw really quite a very large quantity of blood pouring out onto my clothes, and by that time he was hitting me repeatedly. Stabbing, slashing.”

Mr. Rushdie’s wife, the poet Rachel Eliza Griffiths, sat in the public gallery, becoming tearful as Mr. Rushdie described falling bloodied to the floor. She was next to the writer Bill Buford, a friend of Mr. Rushdie’s, who took Ms. Griffiths’ hand to comfort her.

Mr. Matar, dressed in a baggy blue shirt, sometimes looked at Mr. Rushdie, and filled the page of a yellow legal pad with dark ink. In his memoir about the attack, Mr. Rushdie wrote that he was looking forward to facing him in a courtroom.

Soon after the attack, Mr. Matar, a US-Lebanese dual citizen from New Jersey, told the New York Post in a jailhouse interview that he disliked Mr. Rushdie because he believed the writer had insulted Islam, and said he was surprised that Mr. Rushdie survived.

His defense lawyers have not disputed that Matar was in the amphitheater that day but have told the jury that the prosecutor’s evidence will not prove beyond a reasonable doubt that Matar had the necessary criminal intent to be convicted of attempted murder.

Born in India into a Muslim Kashmiri family, Mr. Rushdie spent most of the 1990s in hiding in the UK after receiving death threats over his 1988 novel The Satanic Verses.

The novel prompted Ayatollah Ruhollah Khomeini, then Iran’s supreme leader, to issue a fatwa calling on Muslims to kill Mr. Rushdie for what he said was blasphemy against Islam.

The jury has not heard about the fatwa or the threats against Mr. Rushdie’s life, with the Chautauqua prosecutor’s office saying they are not relevant to proving the charges against Mr. Matar.

Mr. Rushdie abandoned his reclusive existence more than two decades ago, moving to New York City.

Onstage at the Institution, Mr. Rushdie was stabbed about 15 times: in the head, neck, torso and left hand, blinding his right eye and damaging his liver and intestines, nearly killing him, according to his surgeons.

Mr. Rushdie said the stabbing in his right eye, which almost penetrated his brain, was the most dangerous.

“You can see that’s what’s left of it,” Mr. Rushdie said, removing his spectacles and turning to the jury. “There’s no vision in the eye at all.” He also pointed out scars on his neck and left hand.

The assault charge is for the wounding of Henry Reese, the co-founder of Pittsburgh’s City of Asylum, a non-profit group that helps exiled writers, who was conducting the talk with Mr. Rushdie that morning.

Mr. Rushdie described his attacker as dressed in dark clothes with a dark face mask.

“I was very struck by his eyes which were dark and seemed very ferocious to me,” Mr. Rushdie testified.

A defense lawyer for Mr. Matar objected to the characterization, and Judge David Foley struck the answer from the record.

“Okay, not ferocious,” Mr. Rushdie said.

Chautauqua District Attorney Jason Schmidt rephrased his question, asking the writer how he came to make conclusions about his attacker’s ferocity.

“He struck me a number of times, another half a dozen times,” Mr. Rushdie replied. “At some point I thought I was dying. That was my immediate thought.”

If convicted of attempted murder, Mr. Matar faces a maximum sentence of 25 years in prison. He also faces separate federal terrorism charges at a trial in Buffalo.

Lynn Schaffer, one of Mr. Matar’s defense lawyers, asked Mr. Rushdie in her cross examination about how he was able to testify that he was stabbed 15 times.

“I wasn’t counting at the time,” Mr. Rushdie said. “As I said, I was otherwise occupied. But afterwards I could see them on my body. I didn’t need to be told by anybody.”

Ms. Schaffer asked him about his work as a writer and his occasional cameos in movies, noting that Bridget Jones’ Diary was one of her favorites.

“My most important work,” Mr.  Rushdie replied, a few minutes before he stepped down from the stand and walked near Mr. Matar’s table to leave the courtroom. — Reuters

Almost a third of central banks delaying digital currency plans, report shows

Representations of virtual currency Bitcoin are placed on US dollar banknotes in this illustration taken on May 26, 2020. — REUTERS/DADO RUVIC/ILLUSTRATION

LONDON — Nearly a third of central banks have pushed back launching digital versions of their currencies, a new survey shows, although a desire to protect their money-minting powers mean most still intend to go ahead.

Central Bank Digital Currencies (CBDCs) are back in the spotlight after US President Donald J. Trump banned work on a digital dollar in one of his first moves after regaining power last month.

The survey rounds published on Tuesday were completed before that announcement, but the central banks that took part had been asked whether they were now cooling on CBDCs, given the issues around such assets.

It found 67% had not changed their stance over the past year, with three-quarters planning to issue one and a steady 19% saying they did not intend to do so.

Other findings were more mixed, however. The share of central banks inclined to issue one dropped slightly, while the proportion now less inclined to issue one is 15%, compared to zero in 2022.

“There is a clear hesitancy around the subject,” the survey by the Official Monetary and Financial Institutions Forum (OMFIF) think tank and German-based banknote firm Giesecke+Devrient said.

“Very few (central banks) have so far taken the decision to issue, despite a great deal of exploratory work.”

The firm said 31% had delayed their CBDC timelines, including nearly half of those that hope to have one ready within three to five years.

Supporters of digital currencies say they could make 24/7, real-time, cross-currency payments a reality and are a natural alternative to physical cash, which seems in terminal decline.

Opponents, though, argue that advances can be achieved with existing systems. Public protests have focused on one of Mr. Trump’s main criticisms — denied by central bankers — that governments could use them for snooping.

The survey showed that “preserving central bank monetary sovereignty” remained a top motivation for introducing a CBDC, especially in major economies like the euro zone.

Giesecke+Devrient Currency Technology CEO Wolfram Seidemann noted that one of the European Central Bank’s (ECB) top policy makers recently said a digital euro would counterbalance Mr. Trump’s US drive for “stablecoins” — a type of cryptocurrency typically pegged to the dollar.

Stablecoins are run for profit by privately owned groups. If they become too dominant the worry is that they would take away the money, or “seigniorage,” countries earn from printing their own currencies and the power they wield through them.

“I’m sure others will have a similar view,” Mr. Seidemann said referring to the ECB’s stance.

The other “elephant in the room,” he said, was the ongoing concern around privacy and the intertwined risk that barely anyone ends up using a launched CBDC, given they also do not yet offer a significant advance in terms of what people can do with them.

Jamaica, the Bahamas, Nigeria and China have all had this issue and it was the biggest worry for around 55% of the emerging market central banks the survey asked. — Reuters

FMETF board OKs name change to ATR FAMI Philippine Equity ETF

THE FIRST Metro Philippine Equity Exchange-Traded Fund, Inc. (FMETF) will change its corporate name to ATR FAMI Philippine Equity Exchange-Traded Fund, Inc., reflecting its new ownership.

The board approved the name change on Feb. 11, FMETF said in a regulatory filing on Wednesday. The change remains subject to stockholders’ approval at the annual stockholders’ meeting. 

In December, First Metro Investment Corp. (FMIC) sold its controlling stake in First Metro Asset Management, Inc. (FAMI) to the ATR Asset Management Group (ATRAM Group) as part of its strategy to “focus on the investment banking business.” 

The transaction involved the sale of FMIC’s 1,050,000 common shares — representing 70% of FAMI’s issued and outstanding capital stock — to a consortium led by ATRAM Investment Management Partners Corp., ATRAM Group’s parent firm, and MET Holdings. 

FMIC is the investment banking arm of listed Metropolitan Bank & Trust Co.

Meanwhile, FMETF announced leadership changes following the ownership transition.

The company appointed Manuel N. Tordesillas as chairman, replacing Eduardo R. Carreon. Mr. Carreon was subsequently elected president and director, replacing Michael G. Say.

FMETF also said Karen Liza M. Roa and Winston Andrew L. Peckson stepped down as directors, while Jose C. Nograles, Rafael K. Eloriaga, and Rhodora Angela F. Ferrer resigned as independent directors.

The company named Regina Paz Goco-Morales and Manuel Herbosa as new directors, while Bernardo M. Villegas and Victor A. Abola were elected independent directors.

Aside from FMETF, FAMI serves as the principal distributor, administrator, and fund manager of FMIC’s mutual funds.

The ATRAM Group operates through ATRAM Trust and ATR Asset Management, Inc., managing portfolios consisting of mutual funds, trust assets, insurance portfolios, and real estate. 

On Wednesday, FMETF shares rose by 0.21% or 20 centavos to P97.20 apiece. — Revin Mikhael D. Ochave

RCBC Pay Portal expands supported payment options

PHILSTAR FILE PHOTO

RIZAL COMMERCIAL Banking Corp. (RCBC) has added new payment options to its business payment gateway platform RCBC Pay Portal to serve the needs of its corporate, micro, small and medium enterprise (MSME) and SME clients.

RCBC Pay Portal now supports more payment methods like credit cards, debit cards, online banking, e-wallets, as well as over-the-counter payment partners like 7-Eleven, Cebuana Lhuillier, MLhuillier and Palawan Pawnshop, the bank said in a statement on Wednesday.

“The RCBC Pay Portal is specifically designed to address the challenges merchants face when managing multiple payment methods. With Pay Portal, they no longer need to juggle different payment providers or handle separate legal documentation. Instead, all transactions are seamlessly managed under one gateway, making the entire process more efficient and straightforward,” RCBC Head of Transaction Banking Group Martin Roberto G. Tirol said.

“As we continue to enhance our digital solutions, RCBC remains committed to evolving the Pay Portal and developing more innovative features to meet the ever-changing needs of businesses. Our goal is to empower merchants with the most efficient and comprehensive payment tools available in the market,” Mr. Tirol added.

The service lets businesses accept online store payments via an application programming interface, software development kit for mobile apps, and plug-ins for e-commerce sites.

Merchants with no online stores can also use RCBC Pay Portal to transact through payment links.

RCBC Pay Portal allows businesses to track customer payments in real time and generate reports via a centralized dashboard.

The bank said merchants from various sectors such as schools, hospitals, clinics, hotels, and restaurants are enrolled in the RCBC Pay Portal.

RCBC’s net income decreased by 37.01% to P1.77 billion in the third quarter of 2024. This brought its net profit for the first nine months of 2024 to P6.22 billion, 31.12% lower year on year.

Its shares climbed by 10 centavos or 0.41% to close at P24.75 each on Wednesday. — A.M.C. Sy

Trump’s crypto company launches strategic ‘token reserve’

FREEPIK

NEW YORK — World Liberty Financial (WLF), the new crypto platform in which President Donald J. Trump holds a financial stake, announced that it was unveiling a strategic token reserve designed to bolster Bitcoin, Ethereum and other cryptocurrencies “that are at the forefront of reshaping global finance.”

WLF said in a statement posted on X on Tuesday that its new token reserve would enable it to mitigate market volatility, empower the company to invest in innovative projects in decentralized finance, and develop a well-capitalized reserve. It also said it would seek strategic partnerships with financial institutions to contribute tokenized assets to the WLF reserve.

WLF did not respond to a request for comment. The White House and the Trump Organization also did not respond to requests for comment.

The announcement comes at a time when Mr. Trump and his family businesses are increasingly turning to making money from the world of crypto.

In addition to WLF, the Mr. Trump family’s holdings include a majority stake in Trump Media & Technology Group, a social-media-and-streaming company that on Jan. 29 announced it was pivoting into financial services tied to crypto.

Three days before his inauguration, the president also launched his $Trump meme coin.

Millions of dollars, including $100 million in fees alone off of the meme coin, have poured into entities connected to the president’s new suite of crypto companies. WLF has already seen token sales of $500 million, by Reuters calculations.

In January, Mr. Trump said his assets, which are in a revokable trust, would be managed by his children while he is in office.

World Liberty Financial launched two months ahead of the US presidential election. Mr. Trump and his affiliates own a 60% stake in its holding company and are entitled to 75% of revenues and 22.5 billion tokens, according to the company’s website.

The news comes just three days after Donald Trump, Jr., the President’s eldest son, made a surprise appearance at the Ondo Summit in New York City, billed as Wall Street 2.0.

There, Mr. Trump and company founders told attendees, most of whom were from traditional finance, that WLF’s aim was to bridge the gap between the world of crypto and mainstream retail investors such as teachers, firemen and dentists.

Donald Trump,  Jr. emphasized the need for a regulatory framework that would allow “crypto to flourish.” Crypto, he said, is the “future of finance” and the “future of American hegemony.” — Reuters

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