Balanoy and solasi are shared common names, of two varieties of basil: ocimum basilicum (sweet basil) and ocimum sanctum (holy basil), the latter not used in cooking.
Family Lamiaceae
Balanoy
Solasi
Ocimum basilicum
SWEET BASIL

Other scientific names Common names   
Ocimum americanum   Albahaka (C. Bis., Ibn., Tag.)  Kameingi (P. Bis.)  
Ocimum citriodorum    Albanaka (Tag., Ibn.)  Ruku (Sul.) 
Ocimum sanctum   Basilico (Ital.)  Ruku-ruku (Sul.)  
  Bauing (Sul.)  Samilig (Bik.) 
  Bawing (Sul.)   Samirig (Bik.)  
  Biday (Ilk.)  Solasi (Tag., Pamp.) 
  Bouak (Bis.) Sweet basil (Engl.)
  Kalu-ui (C. Bis.) Grand basilic (Engl.) 
  Kaluwi (C. Bis.)  Valanoy (Iv.)
  Kamangi (P. Bis.)   

Gen info
The genus Ocimum ranks high in herbs with medicinal use. There are anywhere from 60-150 species in the genus.

Botany
A very fragrant herb, growing up to 70 cm high. An erect, branched undershrub, glabrous or somewhat branched; very aromatic when crushed. The stem is squarish. Leaves: simple, opposite, ovate to oblong-ovate, entire or slightly toothed, with acute tips and glandular spots on the lower surface. Flowers: the inflorescences are racemes, usually purplish with short pedicles. Calyx of the individual flower or floret is strongly reflexed, the upper lobe round, the lower two narrowly lanceolate and acuminate, and the lateral ones ovate. Corolla bilabiate, exerted, and upper lip broader, subequally 4-fid, the lower lip entire. Petals pink or purplish, stamens exserted.
Fruits: nutlets, smooth or somewhat rugose.

There are two common species in the Philippines: O. basilicum and O. sanctum. Both can be used medicinally.

Chemical constituents and properties
• The dried leaves contain 0.21–1% essential oil, the major compounds of which are linalool and methyclaviol.
• Some of the other compounds are: caffeic acid, p-coumaric acid, p-cymene, limonene, 1,8-cineole, methyl cinnamate, myrcene, quercetin, rutin, tryptophan, safrole.  
• Study yielded 14 different anthocyanins: 11 cyanidin-based pigments and 3 peonidin-based pigments. 
Carminative, stimulant, diaphoretic, expectorant, febrifuge, diuretic, demulcent, mucilaginous, cooling.

Distribution and Cultivation
Grows well in open areas with moist, well-drained and friable soil. Occasionally cultivated throughout the Philippines. Common garden plant. It flowers all year round. The plant is deeply rooted.  Prefers warm and moist habitat, sensitive to dryness. Soil should be well-drained, and rich in humus to produce higher yields. Use seeds for propagation.

Parts utilized
Leaves, seeds.

Mature fresh leaves are harvested 2 to 3 months after planting. Leaves are picked leaving the branches on the plant to allow it to flower and produce seeds for the next season.

The leaves are air-dried until they crumble when crushed with the fingers. Store in amber colored bottles in a cool, dry place.

Uses
Culinary
The leafy and flowering tops are used as condiment; eaten sparingly in salads.
Folkloric
Cough: Expectorant properties - Take infusion or decoction of herb (9-15 gm of dried herb) or tops as tea.
Leaf juice helpful for expectoration of mucus.
Decoction of leaves also used for hiccups, vomiting and nausea.
Gas pains: Decoction of herb as tea helps to expel wind from bowels.
Snake bites: Crush fresh plant and poultice the bitten wound.
Gonorrhea, using a decoction of the roots and leaves of plants.
Decoction of leaves used as a wash for ulcers.
External contusions.
Used in baths for rheumatic pains.
Ringworm and insect bites: Apply juice of crushed leaves.
Skin ulcers: Decoction of herb as wash.
For delayed menstruation: take the juice of the leaves with water.
Seeds are used in treatment of several eye diseases.
Toothache: Wet small piece of cotton with juice of crushed leaves and insert into tooth cavity.
Postpartum: Decoction of seeds used to decrease postpartum pains; the seeds are mucilaginous.
Poultice of seeds used for buccal sores.
Decoction of seeds also used for constipation.
Acne: Infusion of 3 tsp of dried leaves in 1 cup of boiling water for 20-30 minutes. Apply externally or drink decoction of tea or infusion 3 times daily.
Others
• Oils repel insects (limonene, myrcene, camphor, thymol) and have larvicidal (eugenol and methylclaviol) activity against houseflies and mosquitoes.
Recent uses
Dizziness: crush enough fresh leaves with your fingers and sniff them.
Cough: As decoction boil eight tablespoons of fresh leaves in two glasses of water for 15 minutes or until the liquid is reduced to half. Divide the decoction into eight parts and take one part, three times a day.

Studies
Aqueous extracts of Ocimum basilicum L. (sweet basil) decrease platelet aggregation induced by ADP and thrombin in vitro and rats arterio–venous shunt thrombosis in vivo: Results showed Ocimum basilicum to possess an inhibitory effect on platelet aggregation induced by ADP and thrombin resulting in an anti-thrombotic effect in vivo.
Cardiac stimulant activity of Ocimum basilicum Linn. extracts: The study evaluated the cardiac effects of extracts derived from the aerial parts of Ocimum basilicum. Results showed the alcoholic extracts exhibited a cardiotonic effect and the aqueous extract produced a B-adrenergic effect.
Antimicrobial Effects of Ocimum basilicum (Labiatae) Extract: Results suggest that O. basilicum extracts possess compounds with antimicrobial properties against C. albicans and some bacterial pathogens.
Anti-dyspepsia:
A Double-Blind Placebo-Controlled study showed Ocimum basilicum seems to relieve functional dyspepsia in female and young patients with dysmotility.
Anthocyanins in Basil : Purple basils are an abundant source of acylated and glycosylated anthocyanins, a potential source of stable red pigments to the food industry.
Antioxidant: In a study of plants in the Lamiaceae family, the leaves and stems of Ocimum basilicum displayed the highest antioxidant activity.
Antiulcer: Study showed the seed extracts of OB to possess significant anti-ulcer activity against ethanol-induced ulceration in animal models.
Wound-Healing Activity: Wounds treated with honey in combination with OB alcoholic leaf extract and solcoseryl-jelly showed accelerated wound healing compared to honey alone.
• Antiproliferative / Anticancer: A study on the antiproliferative activity of essential oil from 17 thai medicinal plants on human mouth epidermal carcioma (KB) and murine leukemia (P388) cell lines. In the KB cell line, Sweet Basil (Ocimum basilicum) oil showed the highest anti-proliferative activity in the P388 cell line. The results suggested the potential of Thai medicinal plants for cancer treatment.

Toxicity
Although known for its medicinal benefits, it contains some potentially dangerous compounds: safrole, rutin, caffeic acid, tryptophan and quercetin.(See: Medicinal Plants for Livestock / Cornell University)

Availability
Wild-crafted.
Cultivated for condiment and culinary use. 


Additional Sources and Suggested Readings
(1)
Comparative study of volatile compounds from genus Ocimum / American Journal of Applied Sciences , March, 2009 by S. Raseetha Vani, S.F. Cheng, C.H. Chuah
(2)
Ocimum basilicum, O. americanum, and O. micranthum
http://www.ansci.cornell.edu/plants/medicinal/basil.html
(3)
Aqueous extracts of Ocimum basilicum L. (sweet basil) decrease platelet aggregation induced by ADP and thrombin in vitro and rats arterio–venous shunt thrombosis in vivo / Ibadet Tohti, Maynur Tursuna, Anwar Umar, Subat Turdi, Horyat Imin and Nicholas Moore/ doi:10.1016/j.thromres.2005.12.011
(4)
Cardiac stimulant activity of Ocimum basilicum Linn. extracts
A Muralidharan, R Dhananjayan
http://www.ijp-online.com/article.asp?issn=0253-7613;year=2004;volume=36;issue=3;spage=163;epage=166;aulast=Muralidharan
(5)
Antimicrobial Effects of Ocimum basilicum (Labiatae) Extract
Ahmet ADIGUZEL, et al
http://journals.tubitak.gov.tr/biology/issues/biy-05-29-3/biy-29-3-4-0503-3.pdf
(6)
Recent uses / Philippine Inquirer. Monica Feria. Oct 6, 2007
(7)
Effects of Ocimum Basilicum on Functional Dyspepsia: a Double-Blind Placebo-Controlled Study: / M. Rafieian-kopaei, K. Hosseini-asl / IJMS Vol 30, No 3, September 2005
(8)
Anthocyanins in Basil (Ocimum basilicum L.) / J. Agric. Food Chem., 1998, 46 (5), pp 1734–1738 DOI: 10.1021/jf970887r
(9)
Medicinal Plants for Livestock - Ocimum basilicum / Cornell University / Dept of Animal Science
(10)
Antioxidant Activity of Coleus Blumei, Orthosiphon Stamineus, Ocimum basilicum and Mentha arvensis from Lamiaceae Family
/ International Journal of Natural and Engineering Sciences 2 (1): 93-95, 2008
ISSN: 1307-1149, www.nobelonline.net
(11)
Prevention of Ethanol-induced Gastric Mucosal Injury by Ocimum basilicum Seed Extract in Rats / Mahmood A.A., and Sidik K. , and Fouad H.M., (2007)
/ ASM Science Journal, 1 (1). pp. 1-6. ISSN 1823-6782
(12)
Synergistic Effects of Alcholic Extract of Sweet Basil (Ocimum basilicum L) Leaves and Honey on Cutaneous Wound Healing in Rats / Intl Journ of Molec Med and Adv Sciences 1(3):220-224,2005

(11)
Anti-proliferative activity of essential oil extracted from Thai medicinal plants on KB and P388 cell lines / Cancer Letters, Vol 235, Issue 1, Pages 114-120 / J. Manosroi, P. Dhumtanom, A. Manosroi