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Maharlika gets P75-B seed fund
Two state financial institutions have plunked down their contributions to get the ball rolling for the Maharlika Investment Fund, or MIF, the country’s first sovereign wealth fund. The Development Bank of the Philippines turned over its P25-billion contribution on 15 September, the day after the Land Bank of the Philippines pumped in its P50 billion to the Maharlika Investment Corp., the corporate vehicle for the MIF, for a total of P75 billion in seed fund for the MIC. The Bureau of the Treasury, or BTr, on 28 August issued the implementing rules and regulations of the MIF Act of 2023, which took effect on 12 September. President Ferdinand “Bongbong” Marcos Jr., in a forum last Wednesday in Singapore organized by the US think tank Milken Institute, said the government will be tapping mainly its unutilized reserves to find investment opportunities. He assured that professionals will run the fund without intervention from politicians. Marcos said the MIF will allow the government to tap the country’s reserves for investment without borrowing. The government seeks to utilize the MIF to bankroll infrastructure, energy development, and agriculture projects. DBP president and chief executive officer Michael de Jesus said DBP deposited its share of the seed fund to the BTr’s account on 15 September, ahead of the 17 September deadline. Under the law, the national government, DBP and LandBank are mandated to put up the initial capital of the MIC, contributing P50 billion, P25 billion, and P50 billion, respectively. Finance Secretary Benjamin Diokno said the remittances from the two largest state institutions will pave the way for the full operation of the MIC. Hunt for execs starts Foreign and domestic investors are eagerly awaiting the full establishment of the MIC, as the national government is expected to complete the appointment of highly qualified and capable individuals who will comprise the MIC governing board. “We are witnessing a growing interest in investments in the MIF from multilateral financial institutions and foreign investors. With the regulatory requirements in place, and after securing the seed capital from the state-run institutions, we are confident the fund will be operational by yearend,” Diokno said. De Jesus said the MIC should optimize the use of the government’s financial assets to generate substantial returns and support infrastructure to promote the efficient management of wealth and assets. He added that “gains from both the financial and developmental fronts as a result of the trailblazing activities of the MIC” will be realized in the next four to five years. The post Maharlika gets P75-B seed fund appeared first on Daily Tribune......»»
Bong Go shares Gibo’s stance against proposed MUP reform
Senator Christopher "Bong" Go expressed his alignment with Defense Secretary Gilberto "Gibo" Teodoro Jr.‘s stance against the proposed military pension reform particularly on the issue of imposing mandatory contributions and removing the automatic indexation for military pensioners. "It was also reported that Secretary Teodoro does not agree with the proposed mandatory contributions and the removal of the automatic indexation of our military personnel," Go stated during the Commission on Appointments committee hearing on Wednesday, 13 September. "Hindi rin po ako sang-ayon dito sa mandatory contributions at pagbago sa automatic indexation," he stressed. Go then elaborated on his stance, emphasizing that there are alternative ways to address financial needs without affecting the pensions of current retirees and those still in active service. “Bagama’t naintindihan po natin ang sitwasyon ng ating mga finance managers at tumataas na budgetary needs ng gobyerno at sa posibleng paglobo ng kakailanganin na pondo po para sa pension, naniniwala ako na may ibang paraan upang matugunan ito nang hindi maapektuhan ang pension ng ating kasalukuyang mga retirees at mga nasa active service," he added. He further suggested some of these alternative methods, "Katulad ng pag-improve sa pagkolekta ng buwis o pag-eliminate po ng corruption sa gobyerno.” Go also took the opportunity to remind his colleagues of the efforts made during the term of former president Rodrigo Duterte to increase the salaries of military and uniformed personnel. "Huwag nating kalimutan na noong panahon ni dating pangulong Rodrigo Duterte, nagsikap tayo na mapataas ang sweldo ng ating uniformed personnel," Go began. He then elaborated on the collective efforts made to achieve this salary increase. "Nagpursige din tayo upang maisakatuparan ito noong hindi pa po ako senador at naniniwala po ako na marami pong sumuporta dito sa last Congress," he continued. Go also expressed his concerns about the potential impact of mandatory contributions on the increased salaries. "Naniniwala rin po ako na hindi natin dapat bawiin sa pamamagitan ng contributions ang matagal na nilang inasam na pagtaas ng sahod,” he said. The senator further emphasized the need to consider the long-term impact of the proposed pension reform on the lives of current military personnel. “Huwag naman po sanang bigay-bawi. Tandaan natin na marami sa ating kasundaluhan ay mayroon ng plano sa kanilang mga matatanggap kapag magreretire. Nakaplano na yan, naka-loan, may babayaran na yan at pamilya...nakalaan na yan para sa kanilang mga anak,” he said. “Kung iisipin natin, yung ikakaltas po sa kanila ay halos katumbas ng isang sakong bigas at napakahalaga po nito, lalung-lalo na po sa mga ordinaryong sundalo. Maliit na bagay lamang ito na para sa ating mga sundalo dahil sa sakripisyo po na inalay nila para mapanatili ang ating seguridad,” he added. Go has consistently emphasized the need for fiscal stability while ensuring the welfare of military and uniformed personnel. He has previously suggested that any pension reform should not adversely affect pensioners and those still in active service. “Buhay ang isinasakripisyo nila para mapanatili ang seguridad ng bansa. Iba po ang sakripisyo nila dahil buhay po ang nakataya dito. Kahit isang boto lang ako dito, palagi kong ipaglalaban kung ano pong makakabuti sa mga nagseserbisyo sa bayan,” assured the senator before. On the same day, Go expressed his full support for Teodoro's ad interim appointment as Secretary of the Department of National Defense (DND). "As we discuss the welfare of our uniformed personnel, it's crucial that we have a competent and reliable individual leading the DND. I fully support the ad interim appointment of Secretary Gibo Teodoro for this role," Go declared. He praised Teodoro's previous performance as DND secretary under the administration of former president Gloria Macapagal-Arroyo, stating, “Sec. Gibo Teodoro Jr. is a man of competence and integrity. Ito po ay napatunayan na nung una siyang manungkulan bilang Kalihim po ng Department of National Defense noong panahon ni pangulong Arroyo." He also mentioned that Teodoro's primary objectives during his previous term were focused on modernizing the Armed Forces of the Philippines (AFP) and DND personnel, upholding human rights, and taking a proactive approach to disaster risk management. The senator also took the opportunity to discuss his own advocacy for disaster preparedness. "Like Secretary Gibo, I share the same advocacy in strengthening our country’s disaster preparedness and response, which is why I filed for the creation of the Department of Disaster Resilience (DND).” Earlier, Go filed Senate Bill No. 188, which aims to establish the DDR to centralize efforts, streamline coordination, and ensure a more swift and effective response to emergencies. “This proposed department will be headed by a cabinet secretary. Napapanahon na po. Sana magkaroon tayo ng isang timon na nakatutok po,” he added. The creation of the said department, if enacted into law, shall concentrate on three key result areas, namely: disaster risk reduction, disaster preparedness and response, and recovery and building forward better. Towards the end of his speech, Go extended his trust and confidence in Teodoro. "Mr. Secretary, you have my full trust and confidence. Ako po ay naniniwala that under your watch, mas lalo pa ninyong mapapalakas ang ating defense department at mga programang nakapaloob dito," he concluded. The post Bong Go shares Gibo’s stance against proposed MUP reform appeared first on Daily Tribune......»»
Five groups target NAIA takeover
Five companies have signified their intention to take over the operations and management of the Ninoy Aquino International Airport or NAIA a few weeks after the Department of Transportation or DoTr opened the bidding for the P170.6-billion project. In a text message to the Daily Tribune on Wednesday, the DoTr confirmed that five potential bidders have bought bid documents for the project. As of 13 September, the interested companies include San Miguel Corp. or SMC, Spark 888 Management Inc., and Asian Airport Consortium. Two others who submitted bids — Manila International Airport Consortium or MIAC and GMR Group — have previously vied for the NAIA rehabilitation. MIAC is composed of Aboitiz InfraCapital, Inc., AC Infrastructure Holdings Corporation, Asia’s Emerging Dragon Corporation, Alliance Global — Infracorp Development Inc., Filinvest Development Corporation, and JG Summit Infrastructure Holdings Corporation along with Global Infrastructure Partners. Super consortium in running In 2018, the government awarded the Original Proponent Status for the NAIA rehabilitation to a “super-consortium” formed by seven of the country’s biggest conglomerates: Aboitiz InfraCapital Inc.; AC Infrastructure Holdings Corporation; Alliance Global Group Inc.; Asia’s Emerging Dragon Corporation; Filinvest Development Corporation; and JG Summit Holdings Inc. and Metro Pacific Investments Corp. It was, however, terminated. Thus, Megawide Construction Corp. and partner GMR Infrastructure Ltd. also submitted an unsolicited proposal to upgrade and rehabilitate the highly congested NAIA. Despite the substantial progress, the much-needed NAIA rehabilitation was back to square one after the previous administration also rejected the proposal. According to the MIAA, the Megawide consortium failed to convince the government of its financial ability to support the project. Meanwhile, the SMC., an Asian conglomerate led by businessman Ramon S. Ang, is currently taking on the P740-billion New Manila International Airport in Bulacan. Award out by December Previously, the DoTr conveyed that the contract may be awarded to the winning bidder as early as December if the government stays on schedule. The National Economic and Development Authority or NEDA, chaired by President Ferdinand R. Marcos Jr., approved the solicited bid to privatize the operations of NAIA. NEDA Secretary Arsenio Balisacan said the project will help address the long-standing issues at the country’s main air hub such as congestion and limited aircraft movements that usually cause inconvenience to passengers. The DoTr and the Manila International Airport Authority submitted a joint proposal to the NEDA Board to privatize the operations and management of NAIA within 15 years. The project is expected to improve the overall passenger experience and increase the current annual passenger capacity of NAIA to at least 62 million from the current 32 million. Previously, Transportation Secretary Jaime J. Bautista floated the possibility of closing down the airport — only if nearby airports become operational. Bautista explained that the government can have the option to close NAIA if airports in adjacent provinces like Cavite and Bulacan are ready to accommodate the travel-hungry tourists in the country — both local and international. “If there will be new airports, then the government can decide to close the Manila International Airport or MIA because it can be a valuable government asset. On the other hand, it is possible to continue its operations because of its prime location in the Metro,” Bautista told reporters. “So yes, it is possible to close, it is also possible not to close MIA,” he added. Bautista also assured that in case the airport continues its operations, SMC’s Bulacan Airport can still drive up profits despite the competition. The post Five groups target NAIA takeover appeared first on Daily Tribune......»»
PEZA secures P10.8B investments from Japan, signs MOU for automation of ICT systems
In conjunction with the visit of the members of the President’s Cabinet to improve economic ties with Japan, PEZA pursued a five-day outbound mission to Tokyo resulting in P10.8 billion in solid investment expansion commitments from PEZA-registered Japanese enterprises. Held from 28 August to 2 September 2023, PEZA participated in an investment forum organized by junca Global Holdings and a series of business-to-business meetings that capitalized on investment leads sought by PEZA, and those from Sumitomo Corporation and the First Philippines Industrial Park, Inc., one of PEZA’s leading developer-operators. PEZA also explored new strategic areas of collaboration with Kiraboshi Bank, one of the leading regional banks in Tokyo, and with the Organization for Small & Medium Enterprises and Regional Innovation JAPAN, a government agency under the Ministry of Economy, Trade and Industry in charge of supporting the needs of Japanese SMEs. Further, PEZA entered into a Memorandum of Understanding with NEOJAPAN that will allow PEZA to use NEOJAPAN’s desknet’s NEO and Appsuite, free of charge to PEZA until the end of 2023. In an investment promotion forum organized by junca Global Holdings on 29 August, Director General Tereso O. Panga highlighted Japan’s contribution to the Philippine economy, stating “Our top country investor, Japan, has a total of P766.550 billion investments from 1995 to June 2023 making up for the 27.37 percent of PEZA’s overall investments by country. This investment comes from 877 Japanese locators with 339,751 direct employments as of May 2023 and exports of $ 6.370 billion from January to May this year.” The said forum was attended by representatives from various industries, specifically from renewable energy/alternative fuel to water recycling, real estate, financial services, food processing, cosmetics manufacturing and distribution including research and development on sprayed stem cell therapy, and human resource training and management. Panga also reported that “2023 is proving to mark the significant rise of the semiconductor industry with several industry leaders proceeding with their expansion plans to address the projected demand in their products due to the rise of the electronic vehicle industry and steady technological advancements in the downsizing of gadgets and their parts.” “PEZA will make sure that the country will be poised to receive these investments as we have a small window to get the manufacturing of new high-tech products into the Philippines given the competitiveness of the industry,” he added. The mission allowed PEZA to secure P10.8 billion in investment commitments from Japanese companies, namely the Terumo Corporation (P1 billion), Taiyo Yuden (P1.6 billion), TDK Corporation (P7.2 billion) and Almex Technologies (P1 billion). Panga’s statement is further solidified by the P111.207 billion in investments already approved by the PEZA Board for the first nine months of 2023, and expansion announcements by some of PEZA’s biggest locators such as Knowles (Philippines) Electronics Corporation, Terumo, Wipro Philippines, Inc., and Isla Import Terminals, Inc. According to Panga, “Taiyo Yuden CO., LTD. has an investment plan to operate their business in Taiyo Yuden (Philippines), Inc. We are proud to have locators such as Taiyo Yuden grow inside PEZA’s ecosystem since 1989. The ongoing investment plan covers the calendar year 2023-2024, with the total investment amounting to P1.6 billion. This signifies a continued era of trust and confidence in the country’s investment facilitation climate.” The Metal Power Inductor is Taiyo Yuden’s newly patented product with cutting-edge technology. The Philippine facility is the first manufacturing site aside from the facilities in Japan. The new product is the world’s first multilayer-type metal power inductor with the latest multilayer technology and its unique metal material characteristics. On the other hand, the TDK Corporation, an electronics manufacturing company that uses leading magnetic technology will have its first expansion from 2023 to 2026 while its second expansion will begin in 2024. TDK’s new product is a bio-magnetic sensor for monitoring heartbeats. Promising investment leads are also in the pipeline such as the partnership with Kiraboshi Bank, LTD., As one of the largest regional banks in Tokyo, Japan, Kiraboshi Bank caters to a large network of enterprise clients including PEZA registration-eligible business enterprises. Meanwhile, talks with the SME Support JAPAN led to the possible inclusion of the Philippines in the conduct of CEO Business Meetings that will allow direct linkage between Japanese SMEs and PEZA RBEs. PEZA also considers the partnership as a promising prospect since the Philippines is in a position to address the human resource needs of Japanese SMEs that are looking to expand operations. According to SME Support Senior Director General Soma Hirohisa they are “looking forward to the possible partnership with PEZA to produce more success stories for Japanese SMEs, similar to those who setup manufacturing facility in the ecozones to export these products to Japan and other global markets.” On the other hand, Kaneko Cord Co., LTD. is a company engaged in various industries such as the production of electrical wires, cables, and the manufacture of medical tubes and caviar productions is interested in transferring its Japan-based operations to the Philippines. Kaneko representatives later lauded the productive meeting with PEZA, stating that the meeting “surely expedited the beginning of [their] business in the Philippines.” Meltec Corporation also have plans to expand their operations in the Philippines due to the country’s strategic location to its clients and the presence Filipinos workers with high-quality skills and positive attitude. On 1 September 2023, PEZA entered into an MOU with NEOJAPAN that will allow PEZA to use NEOJAPAN’s desknet’s NEO and Appsuite, free of charge to PEZA for a limited period. The use of these groupware solutions will allow PEZA to digitize, automate, and centralize most of its internal documents and processes under a secure IT environment. With this partnership, PEZA will be taking the lead in government administration, being one of the first Philippine government agencies to use the product as a standard operating office system. In Japan, desknet’s NEO is used by 40 percent of all Japanese LGUs, ministries such as the Ministry of Internal Affairs and Communication, universities such as The University of Tokyo, and large enterprises such as Toyota, Mitsubishi Motors, Mizuho, Pilot and Fujifilm. Represented by Panga and Corporate Center Senior Director Tsuneko Aoki, PEZA and NEOJAPAN inked the engagement geared toward exploring areas of collaboration and cooperation in developing, improving and automating the administrative processes of PEZA through the adoption of appropriate ICT systems. In Japan, desknet’s NEO is used by 40 percent of all Japanese LGUs, ministries such as the Ministry of Internal Affairs and Communication, universities such as The University of Tokyo, and large enterprises such as Toyota, Mitsubishi Motors, Mizuho, Pilot and Fujifilm. The MOU is also in compliance with Republic Act No. 10173 or the Data Privacy Act of 2012 and Confidentiality of Information. This is part of PEZA’s initiatives towards contributing to the goal of the Department of Trade and Industry of promoting digital transformation in the Philippines that is science, technology, and innovation-driven. The post PEZA secures P10.8B investments from Japan, signs MOU for automation of ICT systems appeared first on Daily Tribune......»»
Mexico, Pampanga honors BCDA chief Joshua Bingcang
Bases Conversion and Development Authority President and Chief Executive Officer Engr. Joshua M. Bingcang was recently commended by his hometown Mexico, Pampanga for his dedication to public service and exemplary leadership, enabling him to rise from the ranks. The Sangguniang Bayan of Mexico on 11 September 2023 presented Bingcang a copy of Municipal Resolution No. 138-2023, which expresses the municipality’s “pride and honor” on the recent appointment of Bingcang to the top management position of BCDA. This comes on the heels of the Angeles City Council’s resolution last month commending Bingcang for bringing pride to the province of Pampanga. “Engr. Bingcang has performed vital tasks that prove his commitment and love for Pampanga and the Metro Clark areas through his roles in the planning and implementation of key projects,” a resolution issued by the Sangguniang Bayan of Mexico read. Bingcang led the completion of some of BCDA’s biggest projects, which serve as major social and economic growth drivers in Northern and Central Luzon. These are the completion of the Philippines’ longest toll road, the Subic-Clark-Tarlac Expressway; the development of Clark Freeport Zone and the first phase of the National Government Administrative Center in New Clark City; as well as the expansion and modernization of Clark International Airport. “We at BCDA will not be able to achieve all these accomplishments without the help of our public and private sector partners, like the Municipality Government of Mexico. A lot still needs to be done. We would like to get your continued support as we move forward with our One Clark vision, which will further put Pampanga and the rest of Northern and Central Luzon into the center of investment and development,” Bingcang said. Climbing the career ladder, Bingcang started working at BCDA as Project Development Officer III in 1996. He then held various positions on development and project management through the years until his promotion as Senior Vice President for Conversion and Development Group in 2019. In March 2023, he was appointed as President and CEO of the Clark International Airport Corporation, a subsidiary of the BCDA. President Ferdinand R. Marcos, Jr. then appointed Bingcang as BCDA President and CEO, taking his oath of office before Executive Secretary Lucas P. Bersamin on 6 June in Malacañang Palace. Born and raised in Mexico, Pampanga, Bingcang is a licensed electrical engineer and holds a Master’s degree in Business Administration from the University of the Philippines. He also attended an Urban Policy and Governance program at the Nanyang Technological University, and trained at the Harvard Kennedy School in Public-Private Partnerships in Infrastructure. -end- The post Mexico, Pampanga honors BCDA chief Joshua Bingcang appeared first on Daily Tribune......»»
Tulfo wants confidential funds for DMW to combat illegal recruitment
Senator Raffy Tulfo on Monday proposed the allocation of confidential and intelligence funds for the Department of Migrant Workers to help the agency combat illegal recruitment and scammers that victimize overseas Filipino workers. During the Senate Committee on Finance’s budget deliberation for the DMW’s proposed P15.542 billion budget for next year, Tulfo said that he has no problem with several agencies having billions worth of CIFs. However, he pointed out that the DMW should also be equipped with secret funds. “I am not complaining when various agencies are receiving confidential funds. If you have noticed, I am silent about it. However, for me, perhaps it’s about time to also allocate confidential funds to DMW,” he said. He explained that the DMW, an agency mandated to facilitate the overseas employment and reintegration of Filipino workers, may use the secret funds to halt illegal operations of syndicates that victimize OFWs. “There are so many illegal recruiters here. There are so many illegal recruitment agencies that should be dismantled. There are so many scammers that are preying on our OFWs,” he said. “So, we need intel information. [The] DMW needs intel information to combat these illegal recruiters, illegal recruitment agencies and scammers. That’s why I believe it should have confidential funds,” he added. The lawmaker proposed P25 million to P50 million for the CIFs of the DMW. For his part, Senate Deputy Majority Leader Joseph Victor “JV” Ejercito, who presided over the budget deliberation, said the DMW should be strengthened instead of being given confidential funds. “We can strengthen the bureau instead under Usec. Bernard Olalia since you are effective. So, we don't have to use confidential and intelligence funds. Let us be an example that civilian departments do not need this,” Ejercito said. He noted that it might be more fitting to leave the request for CIFs to departments or agencies concerned with national security. Olalia, who heads the licensing and adjudication services at the DMW, said the agency was able to padlock at least four recruitment agencies in the past year. Hans Cacdac, who is now temporarily taking the helm at the DMW, said that the agency requested P10 million worth of CIFS in their proposed budget. However, the Department of Budget and Management did not include it in the National Expenditures Program. Prior to this, Ejercito expressed support for the DMW’s crackdown on illegal recruitment agencies. “I believe that addressing this issue will be a significant challenge for the DMW. I completely agree that many people are taking advantage of our OFWs, and it's truly unfortunate. Even before they leave the country, many of them are already victimized,” Ejercito said. The DMW originally requested P29.488 billion budget for the upcoming fiscal year, but the DMW only recommended P15.542 billion in total appropriations, which is 4 percent lower than the agency's 2023 budget amounting to P16.1 billion. Under the proposed P.768-trillion NEP for next year, a total of P9.2 billion was allocated for confidential and intelligence funds of various government agencies and offices. The Office of the President is asking for P4.56 billion worth of secret funds, while the proposed confidential funds allocated to the Office of the Vice President is P500 million. The post Tulfo wants confidential funds for DMW to combat illegal recruitment appeared first on Daily Tribune......»»
Pause or hike? ECB rate decision on a knife edge
The European Central Bank is walking a tightrope between still-high inflation and a darkening eurozone outlook as it decides whether to lift interest rates again or finally pause its historic hiking cycle. Whether to raise borrowing costs for a 10th straight time when they meet Thursday is shaping up to be rate-setters trickiest decision since the tightening campaign began. The central bank for the 20 countries that use the euro has already lifted rates by 4.25 percentage points since July last year to combat runaway consumer prices. But the Frankfurt institution now finds itself in a "difficult spot," HSBC said in a note, as officials struggle to digest competing data. On one hand prospects for the single currency area are looking bleaker, particularly due to a poor performance in its biggest economy, Germany, which sank into a recession over the winter and is struggling to climb out of it. Latest data showed eurozone second-quarter growth reached just 0.1 percent, lower than previously estimated, while a recent survey pointed to the economy contracting at its fastest rate in three years as a manufacturing slowdown spread to services. The weak data has fuelled calls for the ECB to pause the aggressive hiking cycle for fear it could deepen a downturn, and President Christine Lagarde finally opened the door to doing so at the bank's last meeting in July. Eye-watering inflation But consumer prices, which began surging after Russia's invasion of Ukraine due to galloping energy costs, continue to rise strongly. This would support arguments for another hike to borrowing costs, with the aim of further depressing demand and slowing inflation. Consumer price rises came in unchanged at 5.3 percent in August, way above the ECB's two percent target, although closely-watched core inflation -- excluding volatile energy and food prices -- eased a little. While inflation has slowed since last year as energy costs fall, officials are now worried that other factors, particularly wage increases in a tight labor market, are keeping it elevated. The data makes for a "very complicated mixed bag," said ING economist Carsten Brzeski. "We expect a very heated debate with a close outcome." Brzeski said he expected the 26-member governing council to opt for one final increase, which would take the closely-watched deposit rate to a record high. Other analysts, however, are betting on a pause on Thursday, although they also think the ECB might then impose one final hike at a later meeting. This would be similar to what the US Federal Reserve has done -- taking a break in June before resuming lifting rates again in July. The Fed and the Bank of England are due to hold their next meetings the week after the ECB. Hawks versus doves ECB officials have insisted their decision will depend on incoming data, which has put the focus on updated forecasts the central bank is also due to release on Thursday. In the run-up to the meeting, they have mostly been cagey about what will happen, a contrast to other recent meetings where the decision was usually well-telegraphed in advance. And mixed signals have emerged in recent days. Governing council member Peter Kazimir called for another 25-basis-point hike, with the Slovak central bank chief writing in an op-ed it is "better to be safe than sorry". But another member, Italian central bank boss Ignazio Visco, disagreed with those who think it is better to overdo it, rather than undershoot, while ECB chief economist Philip Lane welcomed signs inflation was easing in some areas. Analysts stressed it was far from clear whether the "hawks", backers of further tightening, or "doves" -- proponents of a pause -- would prevail on Thursday. But if they do choose to lift rates, it will likely be "the final hike in this cycle, with the ECB on hold until at least mid-2024," said Frederik Ducrozet, chief economist at Pictet Wealth Management. The post Pause or hike? ECB rate decision on a knife edge appeared first on Daily Tribune......»»
ERRAMON Aboitiz: Renaissance man
The Aboitiz family is a big player in Philippine business for over a century. With businesses covering a wide range of industries, including power, banking, food, and infrastructure, the clan’s Aboitiz Group has been creating jobs and opportunities for Filipinos. Founded by Paulino Aboitiz, son of a Spanish farmer who migrated to the Philippines in the late 1800s, Aboitiz Equity Ventures Inc., or AEV, has grown from being an abaca-trading and general-merchandise business to a conglomerate with interests in power, banking, food, property, biofuel and construction. The group is undergoing its Great Transformation to establish itself as the Philippines’ pioneering techglomerate. This innovative growth strategy, powered by technology and a renewed entrepreneurial mindset, empowers the entire group to advance businesses and uplift communities. Among the driving forces propelling the Group’s business revolution is Erramon “Montxu” Aboitiz. Montxu previously served as the president and chief executive at Aboitiz Equity Ventures for 10 years from 2009 to 2019. He also briefly held the role of CEO at Aboitiz Power Corp. in 2018. Presently, he serves as a director at AEV and Endeavor Philippines and as chairman of the Board of Directors at Union Bank of the Philippines. Likewise, he serves as a board observer of the Aboitiz & Company. The Asian Institute of Management named Montxu as the new chairman of its Board of Trustees, effective from 1 September 2023. Montxu joined a respected group of successful business leaders who are dedicated to advancing the progress and welfare of Asia and its inhabitants. He was the 7th chairman of AIM, taking over from Peter Garrucho who held the position since 2017. Montxu graduated from Gonzaga University in Spokane, Washington, USA with a Bachelor of Science degree in Business Administration, majoring in Accounting and Finance. In 2011, he was awarded the Management Man of the Year by the Management Association of the Philippines and recognized as the Entrepreneur of the Year by Ernst & Young. Seven years after that, AIM awarded Montxu with an honorary doctorate in management. Social responsibility runs in Aboitiz blood The Aboitiz Foundation, the social responsibility arm of the Aboitiz Group, donated $10 million to AIM in 2019 — known as the Aboitiz 100th Anniversary Commitment Fund. The fund aims to bridge the local and regional gap in data science and innovation. As a result of this generous donation, AIM’s Aboitiz School of Innovation, Technology, and Entrepreneurship is now able to provide top-notch education and research opportunities in data science, with a focus on practical applications. This is made possible by collaborating with data science professionals and leaders from around the world. Recently, Montxu was elected chairperson of the AIM board of trustees. He is widely recognized for his strong commitment to social responsibility and philanthropy. Regarding the endowment to AIM, Montxu said it targeted assisting AIM in its efforts “to expand its curriculum and facilities towards the direction of a bold future, and the skills and education it will require.” Through his leadership in the Aboitiz Group and the Aboitiz Foundation, he has spearheaded numerous projects that have made a positive impact on local communities. As chairman of the Aboitiz Foundation, Montxu has played a key role in shaping its initiatives. The foundation focuses on three key areas which are education, enterprise development, and environmental conservation. “As businessmen, there is no doubt we seek profits and a return on our capital. But as Filipinos, we are equally guided by a sense of purpose to find meaningful ways of contributing to our communities across the country. This symbiotic relationship of profit and contributing to society is our secret sauce to true sustainability, allowing the Aboitiz Group to drive change for a better world by advancing business and communities,” Montxu added. The foundation implemented various programs and scholarships to improve access to quality education, foster entrepreneurship and livelihood opportunities, and promote sustainability. Aboitiz Foundation has been heavily involved in rehabilitating and improving schools in underprivileged areas. They have renovated classrooms, libraries and other facilities, providing students with better learning environments. The foundation has also donated learning materials and equipment to enhance the educational experience of students. Aboitiz Foundation supports community-based programs that aim to uplift marginalized communities. These programs focus on various aspects such as health, nutrition, livelihood, and disaster resilience. The foundation works closely with local organizations and stakeholders to implement sustainable solutions and empower communities to become self-sufficient. Aboitiz Foundation places significant emphasis on environmental conservation and sustainability. They have initiated projects to protect and restore ecosystems, promote renewable energy, and reduce carbon footprint. The foundation actively supports reforestation efforts, marine conservation, and waste management initiatives. The foundation also has a strong focus on disaster response and preparedness. They have been at the forefront of providing immediate relief and support during natural disasters, such as typhoons, earthquakes and floods. The foundation also works towards building resilient communities by conducting disaster risk reduction and management training programs. Montxu Aboitiz encourages and supports employee volunteerism within the Aboitiz Group. The company promotes a culture of giving back by providing employees with opportunities to engage in community service and volunteer activities. This not only benefits the communities they serve but also fosters a sense of social responsibility among the employees. It also collaborates with various non-governmental organizations, government agencies, and other stakeholders to maximize the impact of their social responsibility initiatives. They work together to address complex social issues and implement sustainable solutions that create lasting change. Aligned with the United Nations Global Compact, AEV drives policies, advocacies, and initiatives to make a lasting impact. The post ERRAMON Aboitiz: Renaissance man appeared first on Daily Tribune......»»
Korea through films
The 2023 Korean Film Festival is taking you on an unforgettable cinematic journey. From 22 to 26 September, Korea is bringing in various destination across the country a stunning lineup of award-winning films that have captured the hearts of audiences worldwide: Life is Beautiful, The Book of Fish, Bori, Director’s Intention, Everglow, Gyeongju and Jukdo Surfing Diary. Each of these cinematic gems was meticulously shot in breathtaking locations across Korea, such as Gangneung, Busan, Jeju, Gyeongju, Yangyang, Paju, and Sinan. It’ll be a complete top-to-bottom tour of the country after witnessing the films. For the complete list of participating cinemas, screening schedules and ticketing guidelines, please stay tuned for the announcement on KCC’s social media channels. Remember, admission to KFF is free-of-charge, giving you the chance to enjoy the movie of your choice on a first-come, first-served basis. The films will show at Cinematheque Centre Davao and various SM Malls nationwide. The post Korea through films appeared first on Daily Tribune......»»
DSWD comes to flooding, fire victims’ aid
The Department of Social Welfare and Development greenlighted the request of local government units in the National Capital Region for augmentation support due to floodings in Metro Manila brought about by continuous monsoon rains enhanced by typhoons “Goring” and “Hanna.” DSWD Assistant Secretary for Strategic Communications Romel Lopez said some 390 family food packs were instantly dispatched to the 5th District of Manila on 31 August while 1,685 FFPs are scheduled to be sent to the flood-affected individuals and families residing in the 1st and 4th districts of Quezon City. “The DSWD is in coordination with other LGUs for their needed assistance. We are also currently arranging the FFPs and other relief items to be delivered to the 3rd District of Manila and Caloocan City,” Lopez, who is also the agency’s spokesperson, said. Manila’s 5th District includes the areas of Ermita, Intramuros, Malate, Port Area, San Andres and South Paco while the 3rd District is composed of Binondo, Quiapo, San Nicolas and Santa Cruz. Quezon City’s 1st District includes La Loma, San Francisco del Monte and Santa Mesa Heights while the 4th District is composed of the Diliman and New Manila areas as well as parts of Quezon Avenue. As of press time, a total of 1,278 families or 5,015 individuals in NCR have been affected by the enhanced southwest monsoon and typhoons “Goring” and “Hanna.” For the fire incident in Las Piñas, the DSWD, through its Field Office-NCR, has already coordinated with the LGU and is set to distribute FFPs, hygiene kits, sleeping kits, and kitchen kits to the affected residents. Another fire occurred in Barangay Culiat, Quezon City on Sunday 27 August. Based on the Rapid Damage Assessment and Needs Analysis conducted by FO NCR-Disaster Response Management Division (DRMD), an estimated 210 families were recorded to have been affected by the fire incident. The affected families are currently taking temporary shelter at the Metro Heights Evacuation Center, Metro Heights Gazebo, and the Vargas Covered Court. Some 194 boxes of food packs and 194 sleeping kits are set to be delivered on Saturday (2 September) to the affected individuals. The DSWD will also provide an additional 385 FFPs and sleeping kits to the families affected by the fire that occurred in Barangay 650, Manila City on 5 August. The Department, through its FO-NCR, continuously coordinates with the different LGUs in NCR for significant updates and any requests for relief augmentation. The post DSWD comes to flooding, fire victims’ aid appeared first on Daily Tribune......»»
Ninja Van expands ops
Tech-enabled logistics company Ninja Van Philippines continues to enhance its operational capabilities to address the needs of businesses of all sizes. Most recently, the company opened its newest Fulfillment hub in Cabuyao, Laguna, to support SMEs that may be challenged by manpower, warehousing, and inventory management limitations. The 3,700-square-meter warehouse, which can be expanded through a racking system, boasts of a 2,400 pallet storage capacity and is able to process around 15,000 orders a day. In the hub, client’s products will be received in bulk, inventoried, and stored securely until orders are made and delivered to customers. Fulfillment services covered by the new facility include the standard inbound, storage, outbound, and return processes, as well as customized warehouse management solutions. Ninja Fulfillment is also fully integrated into Ninja Van’s last-mile services, which results in faster parcel handling and delivery. “We serve businesses of various sizes and recognize that their needs greatly differ from one another. For many businesses, fulfillment and warehousing may still be costly or too time-consuming. With our new fulfillment facility, we are better equipped to provide an all-in-one storage, order and inventory management solution that our clients can also customize to fit their unique needs,” said Vin Perez, country head, Ninja Van Philippines. Items received from fulfillment clients are barcoded for accurate tracking of inventory movement. All items received in the fulfillment facility are barcoded and follow a “first in, first out” system. A dedicated team also handles quality assurance which includes expiry date management and quarterly mandatory stock taking. Understanding the shippers’ need for flexibility, Ninja fulfillment services are able to seamlessly integrate with clients’ preferred last-mile delivery partners — not just Ninja Van. Ninja Fulfillment already supports fast-growing lifestyle brands, such as Dermtropics, KJM Cosmetics, and Orijin Global Brands, as well as aggregators from other Southeast Asian countries like Vietnam. Going beyond last-mile delivery, Ninja Van Philippines looks to become a total supply chain solutions provider to help shippers grow and thrive in the fast-evolving e-commerce landscape. The post Ninja Van expands ops appeared first on Daily Tribune......»»
Filipino homegrown hotel expands in Japan
Homegrown DoubleDragon Corporation’s Hotel 101 is setting the bar high with its expansion in Niseko Hokkaido, Japan, the first Filipino hotel chain to scale up its operations outside the country. Mang Inasal founder and DoubleDragon Corp. chairman Edgar Injap Sia II and co-chairman Tony Tan Caktiong led the groundbreaking of the 1.17-hectare Hotel101-Niseko with Niseko Mayor Kenya Katayama and Kutchan Hokkaido Mayor Kazushi Monji on 26 August. The ceremony also signaled the start of the construction of the 482-room property. Hotel 101–Niseko will be one of the most significant value hotels in Niseko, encompassing 482 signature HappyRooms offering comfort, convenience and accessibility to all types of travelers. The upcoming development sits on a sprawling 1.17-hectare property in Hokkaido Prefecture, Japan, and is expected to be patronized by Japanese travelers and foreign tourists. The extension of the Shinkansen bullet train to Niseko and Sapporo will further improve access to the region which is also reportedly in the running to host the 2030 Winter Olympics. [caption id="attachment_178438" align="aligncenter" width="1202"] Perspective of Hotel 101-Niseko Hokkaido, Japan.[/caption] Iwata Chizaki, Inc., one of the largest contractors in Japan and the same contractor who built the Chitose International Airport in Sapporo, Hokkaido Japan, will helm Hotel101-Niseko. Hotel 101 projects in Madrid, Spain and California, USA, will follow suit. By 2026, Hotel 101 Global targets to expand in United Kingdom, UAE, India, Thailand, Malaysia, Vietnam, Indonesia, Saudi Arabia, Singapore, Cambodia, Bangladesh, Mexico, South Korea, Australia, Canada, Switzerland, Turkey, Italy, Germany, France, and China. [caption id="attachment_178436" align="aligncenter" width="1024"] DoubleDragon Corporation and Hotel 101 Global Pte Ltd team led by DoubleDragon chairman Edgar Injap Sia II, DoubleDragon co-chairman Tony Tan Caktiong, Hotel 101 global chief executive officer Hannah Yulo-Luccini with the team members of the project contractor Iwata Chizaki Inc., team members of the construction manager EGW Asset Management and team members of the project master sales group H2 Christies. | PHOTOGRAPHS COURTESY OF DoubleDragon[/caption] DoubleDragon Corporation has accumulated a completed recurring income portfolio of over 1.2 million square meters in diversified hard assets in office leasing with its Jollibee Tower, DD Meridian Park complex, its string of CityMall community centers, its series of CentralHub industrial warehouse complexes, its series of Hotel 101 projects in the Philippines and overseas. As of 30 June, DoubleDragon’s total equity stands at P81.64 billion and total cash position stands at P6.54 billion. The company has recently been upgraded to the highest PhilRatings PRS Triple A Credit Rating. DoubleDragon targets listing its subsidiary Hotel 101 Global at the NASDAQ (US Stock Exchange) given that Hotel 101 Global is expected to ultimately derive over 95 percent of its revenues outside of the Philippines. The post Filipino homegrown hotel expands in Japan appeared first on Daily Tribune......»»
Año: Marcos admin will see end of communist insurgency
The National Task Force to End Local Communist Armed Conflict said it has made significant progress in its campaign to end the more than five- decade-old local communist insurgency. In a news briefing on Thursday, National Security Adviser Eduardo Año said that the NTF-ELCAC has established Project Management Offices in various government agencies to ensure a systematic and unified approach to ending the armed conflict. Año also cited the success of programs such as the Support to Barangay Development Program and Enhanced Comprehensive Local Integration Program, which he said have played a pivotal role in putting an end to armed conflict. "The SBDP and E-CLIP have helped to improve the lives of people in conflict-affected areas," Año said. "These programs have also helped to convince many members of the New People's Army to lay down their arms and return to the fold of the law." Año also highlighted the importance of the Amnesty Proclamation that President Ferdinand Marcos Jr. issued in July. The Amnesty Proclamation offers a chance for NPA members to surrender and avail of government assistance. "I urge the continued support from agencies and our esteemed Congress to ensure the sustained implementation of these programs, further contributing to the journey towards peace and prosperity," Año said. "In line with our pursuit of sustainable peace and development, the Amnesty Proclamation holds considerable significance," he added. When asked about what the government can achieve in terms of insurgency after the term of President Ferdinand Marcos Jr., Año said they are now taking a whole-of-nation approach to address the root causes of the rebellion in the country, such as poverty and lack of development in rural areas. "We came from the military service, we were lieutenants. We have been fighting against the insurgents, but it seems like it's just repetitive, you know, because there are missing components," Año said, adding that the government has been fighting the communist insurgency for already five decades. "These missing components, we finally found out, [are] the convergence of all government agencies, stakeholders, local government units, really to bring development and to solve the roots of insurgency in these far-flung areas," he added. Año said the government's support for the barangay development program and the enhanced comprehensive local integration program has led to an increase in the number of surrenders from armed groups. "So, during the term of President Ferdinand R. Marcos Jr., we can finally put an end to this local armed communist conflict," Año said. "And from that point, we will prioritize various developments and ensure the delivery of services. Not only that, we can now shift the focus of the Armed Forces towards external defense," he added. The post Año: Marcos admin will see end of communist insurgency appeared first on Daily Tribune......»»
DoTr lines up deals for Japan financing
Banking on decades of expertise in taking on big-ticket projects, the Department of Transportation or DoTr is enticing Japanese companies to bid for various public-private partnership contracts in the railways and aviation sectors. At the recent Philippine Investment Opportunities forum in Tokyo, Japan, Transportation Secretary Jaime Bautista cited the Metro Manila Subway Project and the North-South Commuter Railway as well as the privatization of the Ninoy Aquino International Airport or NAIA as priority projects that may need Japanese support. “Following through our President’s directive, the DoTr has cast the vision of transforming the Philippines’ transport industry and elevating it to global standards, characterized by comfortable, accessible, safe, and affordable transport services throughout the country,” Bautista said. Gap to be addressed “DoTr will bridge the gap towards our vision for the Philippines’ transportation sector by developing infrastructure and delivering transport services across our four operating sectors in airports and aviation, maritime, railways and roads,” he added. Worth P76.89 billion, the 36-kilometer Metro Manila Subway Project includes operations and maintenance for subway trains, stations, depot, and other systems infrastructure under a concession period of 15 years of full operations. Also included are maintenance of facilities and equipment under the Philippine Railway Institute, collection of passenger fares, and commercial development rights within prescribed station boundaries, among others. The project’s bidding will start within the last quarter of the year or until the first quarter of next year. Meanwhile, the 147-kilometer North-South Commuter Rail system worth P204.6 billion includes operations and maintenance of trains, stations, depot, and other systems and infrastructure, and a concession period of 15 years of full operations in addition to a partial operations period. The project also includes interoperation management within the rail system by trains from other lines such as the subway project, collection of passenger fares, and exercise of commercial development rights within prescribed station boundaries, among others. Along with the subway project, bidding for the operations and maintenance contract of the NSCR Project will commence within the fourth quarter of the year to the first quarter of 2024. As for the privatization of the NAIA, the DoTr already kicked off the bidding last week. The P170.6-billion project will help address the long-standing issues at the country’s main air hub such as congestion and limited aircraft movements that usually cause inconvenience to passengers under a 15-year concession period. The project is expected to improve the overall passenger experience and increase the current annual passenger capacity of NAIA to at least 62 million from the current 32 million. Last February, during President Ferdinand “Bongbong” Marcos Jr.’s state visit to Japan, the country secured over P156 billion in loan financing from the Japanese government to fund transportation projects. The government signed two projects worth ¥377 billion or around P156.22 billion with Japan. The Philippines is the biggest recipient of Japan International Cooperation Agency’s or JICA programs in Southeast Asia worth 418 billion yen in 2022. JICA is currently supporting 28 ongoing loans in the Philippines, the most recent of which was the 30-billion yen loan agreement signed this week to strengthen the country’s disaster resilience. The post DoTr lines up deals for Japan financing appeared first on Daily Tribune......»»
Joining innovation frontiers
The innovative energy throughout the Philippine startup ecosystem is pulsating strongly more than ever. Even startup scenes across the world are beginning to feel it. This month, I met with the Philippine Consulate General in San Francisco and the Philippine Trade & Investment Center in Silicon Valley as IPOPHL aims to explore collaboration opportunities in the Bay Area. Intellectual property or IP protection and registration in the Philippines were topics of particular interest. The presence of IPOPHL was an excellent opportunity to organize a forum to discuss the advantages of the Philippine IP regime for companies and startups. At the forum, I shed light on the thrilling progress of the Philippine startup ecosystem, driven by a vibrant, tech-savvy and educated young population, combined with strong government and private sector support. In 2022, the Philippines proudly ranked fifth among ASEAN member states in the Global Innovation Index and remained to be an innovation achiever, a testament to the innovative energy that courses through our veins despite limited resources. The country’s startups also accounted for nearly 4 percent of the total $15.8 billion in startup equity funding raised in Southeast Asia, highlighting our increasing significance on the regional stage. Remarkably, despite a worldwide investment downturn, our investment landscape expanded to a substantial 9 percent, proving our resilience and commitment to fostering entrepreneurship and innovation. According to the 2023 Global Startup Ecosystem Report, Manila alone has grown its startup ecosystem to $3.5 billion, rising 85 percent from the $2.1 billion reported in the 2022 GSER. But it’s not just Manila that is showing promise. Highly urbanized cities such as Naga, Iloilo, Cebu and Davao are also emerging as exciting startup destinations. However, we need to reach more innovation companies to help them protect their IP assets. Recently, the Philippine Institute for Development Studies assessed innovation activities of 11,500 firms based on their engagement and types of innovation pursued (product or process innovation). The study showed that, as of 2021, a third (33.6 percent) of firms were innovation active, with innovation practiced more among medium and large establishments than micro and small ones. Of the innovation-active firms, only a quarter filed for IP rights. But we hoped things to be different starting 2022. Last year, applications for patents — which indicates the appetite to bring possibly commercially viable inventions to market — booked the fastest growth among all types of IP as volumes expanded 9.3 percent to 4,403. In the first half of this year, IPOPHL saw registrations for innovation-focused types of IP expand as public and private support dedicated to foster innovation are in full swing. Preliminary data from IPOPHL show that patent and industrial design filings grew year-on-year almost every month during the January to June period while utility models have seen consistent growth every month, positioning 2023 as a year for innovation. The expanded appetite for innovation may be attributed to the host of policies to streamline government processes, harmonize resources and support strategic innovation investments, such as through the passage of the Innovative Startup Act, Philippine Innovation Act, Ease of Doing Business Act, Foreign Investments Act, and CREATE Law. For its part, IPOPHL’s initiatives for startups such as IPOPHL’s Juan and Juana projects, Innovation and Technology Support Office, IPOPHL-Asian Institute of Management-Dado Banatao Incubator, free capacity building activities, were presented at the meeting with PCG-SF and the PTIC-SV. Trade Commissioner at the Philippine Consulate General May Nina Celynne Layug expressed interest in further discussing IPOPHL’s initiatives in the future and how PTIC-SV and IPOPHL can work together, especially in marketing the country to potential startup locators. These further collaborations could in the future make the Philippines among the innovation frontiers as ranked by the Global Innovation Index. In the next GII, to be released this September, we’re optimistic the country will be taking a few giant steps towards that goal. The post Joining innovation frontiers appeared first on Daily Tribune......»»
Making Filipinos proud through our folk dances
The summer that Marielle Benitez-Javellana participated in the performances of the Bayanihan Philippine Dance Company in various barangays of Manila, she was balancing her time between football and folk dance. [caption id="attachment_175404" align="aligncenter" width="841"] Marielle Benitez-Javallana with son Lucho.[/caption] She had just graduated from De La Salle University where she played for the University Athletic Association of the Philippines. She was also a member of the national women’s football team. Between her graduation and return to the football field, she attended the Philippine Women’s University’s Bayanihan folk dance workshop. This culminated in a class recital at the Folk Arts Theater where she danced “Aray.” As she recalled in her interview with the DAILY TRIBUNE, it was quite a challenge for her to give her equal attention to football and dance. She recounted laughingly, “I would run from one rehearsal to one training. Or from a game to a performance. In the car, I would fix my make-up or change into my costume or my sportswear. “I stayed in dance because I enjoyed the company. We goofed around a lot, and we didn’t care if we fell from a bench, tripped or looked awkward because of our mistakes. We kept trying and we learned how to do the steps correctly.” It was a rite of passage for Marielle and the new Bayanihan applicants because they had to follow the rules, “such as attending rehearsals with our makeup on and our hair pulled up in a bun. They were inculcating in us the standards for which Bayanihan was known and admired.” Grace and precision While folk dancing may be different from playing football, she somehow found similarities in both. “At first, I felt a little bit awkward because I was a football player and at the same time dancing Itik-Itik, Binasuan and Tinikling. In both, precision and grace are important. Both require commitment and hard work. And in dance, as in football, you perform as a team. You can’t do things by yourself. You have to be in sync with the other team members and be connected with them.” She would have her first international engagement in August that year and, to her delight, it was in Athens where the Olympics were being held. “Just like most athletes, my dream was to be part of the Philippine team in the Olympics. And there I was exactly at the Olympics, but I was not in my athlete’s uniform. Instead, I was in my Filipiniana costume, with my hair teased up. We were the Philippine representatives at the Cultural Olympiad, which took place alongside the Olympic Games. “We had shows at night over the week. One headline said, ‘Philippines bags the gold in the Cultural Olympiad because of Bayanihan.’ I was there mesmerized by all those athletes gathered and there I was, all made up, dancing to Philippine folk music. Still, being there for my country and eliciting thunderous applause made me proud of my country and the Bayanihan.” The rest is, of course, history. She went on to dance in various international performances, festivals and competitions and had been part of many award-winning showcases. A challenge every day Fast forward to 2023, Marielle is the executive director of the Bayanihan. One would think she has adapted to the rigors of managing a world-class performing arts group and can now take it easy, having become accustomed to running the organization. On the contrary, Marielle clarified, “I think it’s a challenge every day because, number one, I obviously would continue all my mom’s programs but, at the same time, I would also need to move forward. “At the time that she was on top of the administration of the Bayanihan, she had different challenges naman. And I think, what she was able to set and implement will now create more challenges and opportunities for me. What we share is our passion for work and for a cause. Like her, I work passionately and enthusiastically. “If you ask the younger generation now who the Bayanihan is, they wouldn’t know it the same way the older generation knew the prestige of Bayanihan. That is a challenge for me. Without having to put the Bayanihan on TikTok, it is my responsibility to make ourselves visible and relevant without breaking the Bayanihan traditions.” But if it was a top dream for the young women then to join the Bayanihan so they could see the world, today is quite different “since everyone could travel now. What has remained is that certain character that qualifies one to be a member. There is no money in Bayanihan, so one has to have that desire for advocacy to share with the world the best of our country. A Bayanihan member should be capable of taking to heart our mission to promote Philippine culture. It’s a cause. A thing of the heart. That’s why we’re also known as cultural ambassadors.” Hall of Fame Bayanihan has survived, Marielle explained, “because we always have new trainees. We constantly recruit and we receive applications often. But of course, we also see through the applications. Not just anyone would really be able to last long rehearsals. One has to have that specific attitude and frame of mind that they need to be able to balance school or work and rehearsals. There has to be a certain kind of maturity, which comes from exposure and work ethic that one learns in a working environment. The thing is if you’re working, you cannot just leave for tours and performances so all these factors come into play.” “Right now, we have 30 members — 15 men and 15 women,” Marielle said. “We also brought in new trainees in our annual production Continuum — A Dance Spectrum Through the Years. In the short time that Marielle has assumed the post of executive director, Bayanihan has added to its long list of awards at the same time that it scored new milestones. “Last year, we won our 14th grand prize in Korea so we have been installed into the Hall of Fame. This year we are participating as a guest organization.” “Last year, we were the first Philippine dance group to perform in Riyadh, Saudi Arabia. Early this year, we were the first Philippine group to perform at the Royal Opera House in Oman, Muscat.” First face-to-face festival Looking forward, Marielle enumerated future plans including a tour in September that will bring them to Cyprus and Greece, and in October, to Korea. Marielle will also be active as an officer of the Federation of International Dance Festivals, of which her mom was the local chair for Asia. “When I came in as Bayanihan executive director, it was crucial for me to continue what my mom had begun. Fortunately, during the election last October, I was elected as vice chair for Asia.” In December, Bayanihan will finally host its first face-to-face international dance festival. So far, countries that have confirmed their attendance are Austria, Spain, Poland, Korea and Indonesia. They will all perform in week-long productions. Marielle acknowledged the support of her brother Philippine Women’s University president Marco Benitez and the Bayanihan Board of Trustees composed of its chair, Congressman Kiko Benitez; the president, Ambassador Rosario Manalo; and the members, namely, Rosky Balahadia-Hilado, Judith Pantangco, Imelda Trillo, Leni Cabili, Neny Apostol Regino, Chingay Lagdameo, Marilou Mirasol, Rachy Cuna, Marilou Mirasol and Boy Abunda. Of course, behind them too is the PWU chair Vicky Nazareno. Finally, Marielle shared, “We will continue with our mission to research our dances all over the Philippine archipelago and create our distinct Bayanihan adaptations. And, of course, we will strive to continue inculcating in our members the Bayanihan values that I believe make our performing artists stand out — commitment, discipline, perseverance, leadership, teamwork, time management and the ability to balance late-night hours of rehearsals with your work and home responsibilities when you wake up the next day. These practices make us excel as dancers and because we do our best to excel, we proudly represent our country and hopefully make our countrymen proud.” The post Making Filipinos proud through our folk dances appeared first on Daily Tribune......»»
Grumbling mounts
There continues to be discontent among certain sectors regarding the proposed policy on military pensions, and now there is another idea floated to scrap the free college education. Just like a low rumbling sound of thunder, affected sectors are grumbling over Finance Secretary Benjamin E. Diokno’s statement that the free access to state university education is “unsustainable” — which is indicative of a potential effort to repeal a landmark legislation enacted during the administration of President Rodrigo R. Duterte, who appointed Diokno as Budget and Management secretary and then Bangko Sentral ng Pilipinas governor. For six years as a member of Duterte’s economic team, we were oblivious to Secretary Diokno’s opposition to Republic Act 10931, or the Universal Access to Quality Tertiary Education Act of 2017. Straight from the horse’s mouth during a forum organized by the University of the Philippines School of Economics on 19 August, he said the law is anti-poor since “there are more poor people who do not attend college.” To say that subsidizing college education really “consumes a lot of funds” is irresponsible, anti-Filipino and anti-development. RA 10931 was embraced by Filipinos during a period when the financial situation of the government appeared stable. The blame for becoming indebted to finance the efforts to control the pandemic falls neither on the people nor on the national government. Fast forward to post-pandemic, there is no convenient excuse for sacrificing human investment through debt for education to support lavish government expenditures in the wake of the national government pronouncements that the gross national product increased to P5.643 billion in the second quarter of 2023 from P5.592 billion in the first quarter of 2023. Truth be told, 2.46 million students were beneficiaries of a free college education during the academic year 2021-2022. It is not only they who are reaping the rewards of one of the “most long-lasting” legacies of former president Duterte’s administration, but their families, communities, and the country. Jade Baguna, a Tertiary Education Subsidy or TES program graduate in Social Work, cannot help but share the positive impact of the policy on his life and his family. Despite facing challenges like long walks to and from school and a meager weekly allowance during high school, the program enabled him to complete his degree, achieve the eighth position in the board examination, and become a Social Work instructor. The Finance Secretary may have lost his train of thought that investing in free college education has long-term economic benefits. A well-educated workforce is crucial to driving innovation, technological advancements, and economic growth. By providing access to higher education, the country can nurture a pool of skilled professionals who will contribute to various industries, drive entrepreneurship and attract investments. At a time when the need to rejuvenate an economy is paramount, scrapping free college education may limit the availability of qualified workers, hinder economic development and reduce global competitiveness. One of the most compelling arguments for a free college education is that it promotes equal opportunity and social mobility. By removing financial barriers, individuals from all socioeconomic backgrounds can pursue higher education based on merit and potential rather than financial means. This ensures that talented and motivated students, regardless of their background, have a fair chance to improve their lives and contribute to society. Sec. Diokno’s sustainability concerns sparked a debate. Commission on Higher Education Chairperson Prospero de Vera said there is nothing better than for a country to invest in its young people and produce highly skilled manpower. “It’s the best anti-poverty strategy. You educate an individual, you make him employable, and you make sure the poverty stops with him or with her,” he said. For Cagayan de Oro 2nd District Representative Rufus Rodriguez, taking out the scholarship program is synonymous with seeing a decay of education in our country. “Education is the great emancipator of people from the bondage of poverty. With education you are able to move forward with your family,” he said. Senator Francis Tolentino has this to say: “Perhaps the lack of money of the national government should not be the reason why they cannot be given the opportunity to study. Education is a basic human right. We need to provide our youth with the necessary basic tertiary education.” Higher education provides a holistic learning experience and fosters personal growth and critical thinking. It promotes civic engagement, social responsibility, and the development of well-rounded citizens. By scrapping free college education, we risk limiting these benefits and creating a society that is less educated, less informed, and less equipped to tackle complex societal challenges. Time and again, it pays to revisit Article 26 of the Universal Declaration of Human Rights. Access to education should not be seen as a privilege but as a fundamental right. In other words, recognizing education as a human right implies that every individual is entitled to receive an education, without any form of discrimination, as it is legally protected. The post Grumbling mounts appeared first on Daily Tribune......»»
Makati City scores anew
Six days after taking over the management and supervision of the 14 schools affected by the dragging boundary dispute between Makati and Taguig City, the Department of Education gave Makati City the go-signal to distribute school supplies to the affected students in 10 EMBO barangays the Supreme Court had ordered transferred to Taguig City. In a letter to Makati City Mayor Abby Binay dated 22 August, DepEd Undersecretary and Chief of Staff Michael Wesley Poa said Vice President and DepEd Secretary Sara Duterte had approved the former’s request to distribute the school supplies, including the use of the school facilities. Binay earlier wrote to Vice President Duterte seeking permission to distribute school supplies in the 14 public schools to alleviate the financial burden on parents who would otherwise have to purchase new school supplies. “On behalf of the city government and all the intended beneficiaries in the 14 public schools, I would like to express our heartfelt gratitude to Vice President and DepEd Secretary Sara Duterte. We are thankful that she has the best interest of the students at heart in making a prudent and just decision,” Binay said, adding that the distribution would go on until 29 August when classes start. The 14 public schools are Fort Bonifacio Elementary School, Cembo Elementary School, South Cembo Elementary School, Pitogo Elementary School, East Rembo Elementary School, Rizal Elementary School, Comembo Elementary School, West Rembo Elementary School, Pembo Elementary School, Makati Science High School, Benigno “Ninoy” S. Aquino High School, Tibagan High School, Fort Bonifacio High School and Pitogo High School. Parents, school kids cheer Mayor Binay, accompanied by her husband, Makati 2nd District Rep. Luis Campos, distributed school supplies at Pembo Elementary School and Pitogo High School yesterday. School supplies will be given to all 45,000 students in the 14 public schools in 10 former barangays within Fort Bonifacio — Pembo, Comembo, Cembo, South Cembo, West Rembo, East Rembo, Pitogo, Rizal, Northside and Southside. Upon arriving at the Pembo Elementary School, Binay and her entourage were cheered by the parents and students who had been waiting for her since 10 a.m. Her arrival at 2 p.m. elicited applause and shouts of “Abby, Abby” from the crowd, many of whom were crying, including the children who rushed to hug the mayor. The parents were particularly ecstatic because they said the school supplies they received from Taguig were not comparable to what they received from Makati. Package contents Under the expanded Project FREE (Free Relevant and Excellent Education) of Makati, public school students from kindergarten to senior high school, including Special Education students in elementary and high school, receive school uniforms and supplies. Students in all levels each receive school uniforms, PE T-shirts and jogging pants. School bags, caps and anti-dengue kits are also given to kindergarten pupils. Elementary students each receive a pair of black leather shoes, three pairs of white socks, Randoseru bags (Grades 1 and 4), dengue kits, and school supplies consisting of 10 notebooks, five intermediate pads, and five ballpoint pens and pencils. Junior and senior high school students receive black shoes and socks, and the same school supplies package given to elementary students, with a Math graphing notebook added. Grades 11 and 12 students also get a jacket with hoodie. For SPED students in elementary and high school, the city provides a school supplies package, uniforms, leather shoes and three pairs of socks, and anti-dengue kits for elementary SPED. Schools to be rented out Asked what would happen to the 14 schools formerly under Makati City, Binay said they would be rented out to Taguig as the former held the titles to them. In a Facebook post, Binay said there was a “last-minute attempt” by the Taguig City government to halt the distribution even if Makati had written authorization to carry it out. Taguig City has also started distributing school packages to the students of the city, including those at the EMBO schools. Duterte issued DepEd Order No. 023 last week, titled “Assumption of authority of the Department of Education over the 14 public schools affected by the Supreme Court decision in G.R. No. 235316.” According to the order, DepEd is mandated to promote every Filipino’s right to accessible, equitable, and quality education which is consistent with its mandate to provide a safe and enabling environment for learners, teachers, and personnel. Duterte, in her order, said that relative to the SC’s final and executory decision in the case titled Municipality of Makati vs Municipality of Taguig (G.R. No. 235316), the Department of is cognizant of the increasing tension present in the 14 schools affected by the ruling, that caused uncertainty as to the peaceful and orderly reopening of schools on 29 August 2023. It further stated that in the pursuit of protecting the best interest and welfare of the learners, teachers, and non-teaching personnel, “the Office of the Secretary shall directly supervise the management and administration of all 14 schools, pending a transition plan, effective immediately.” Duterte created a transition committee composed of the regional director (assigned outside of the National Capital Region); DepEd Schools Division Superintendent of Taguig-Pateros; the DepEd Schools Superintendent of Makati City; City Legal Officer of Makati and City Legal Officer of Taguig. Binay has since stood her ground that all 14 public schools are titled to Makati City and therefore Taguig City has no jurisdiction over it, though Mayor Lani Cayetano refuted the claim saying it was included in the SC order that is final and executory. The post Makati City scores anew appeared first on Daily Tribune......»»
MR. FREEZE PARTNERS WITH HEALTH-BOOSTING COMPANY MYATOMS
Gerry Santos, aka Mr. Freeze, the celebrity businessman behind the Mr. Freeze purified tube ice business, has now partnered with MyATOMS, a supply chain management and marketing company focused on concocting and selling herbal health supplements for cleansing and detoxification. With more than 50 tube ice-making plants across the Philippines under his ownership, Mr. Freeze is also the face of ALLTV’s Negosyo Goals. He also publicly hangs out with showbiz celebrities like Derek Ramsay, Albert Martinez and Aga Muhlach. Now, the business guru is thrilled to be the poster boy of MyATOMS. At a recent press conference and contract signing between MyATOMS and Mr. Freeze, Santos professed his trust on MyAtoms, which also happens to provide a business program called MyAtoms Business Academy (M.B.A) to help educate micro-entrepreneurs or corporate entrepreneurs. “Siguro nakikita ko ‘yung vision ng MyAtoms, which coincides with my vision and mission also of helping a lot of people. As a successful entrepreneur, syempre ang role ko is mentorship, so to inspire a lot of people like I did before doon sa nag-host ako ng show. Itong group, nakita ko ang potential. Nakita ko pa dito, it coincides with my lifestyle in sports — playing golf and tennis, tapos, syempre ‘yung product nila, kailangan healthy ka eh. Kung hindi ka healthy, hindi mo magagawang mag-tennis, magagawang mag-negosyo. Mawawala ang focus mo. Syempre, always, health is wealth. Kaya, sabi ko, I’d like to join this company, MyATOMS, and help this company to grow,” Santos said. Jonathan Petalver, MyATOMS’ MBA executive director, explained that they decided to pick Mr. Freeze to promote the company’s products as he is a symbol of health, athleticism, and business savviness. “In this new economy, called the digital economy, when you promote the product, hindi na siya about definition, benefits and all. That’s why we asked — actually, we begged Mr. Freeze — to join us, kasi the product is very, very beneficial, especially if you’re into sports, conditioning, mental health, and anti-depression and all. We believe Mr. Freeze is the perfect example for that. So, him, taking the product, and doing this with us in this journey — that alone speaks of the product. Hindi na siya questionable,” Petalver said. Meanwhile, MyATOMS chief executive officer Marcam Marasigan believes that the public needs to be educated on the benefits of probiotics through Mr. Freeze. Marasigan also believes that their health products could contribute to the solution for the growing and alarming problem of mental health issues. “Most of the time, ang tinatarget pagdating sa health products ay mga nasa late 30s pataas. And then, the tendency na the younger generations na hindi nata-target,” Marasican said. “Probiotics is a very, very powerful supplement — if we are educated. So, we want to educate people on probiotics. And the second reason for the product — ang pinaka-mataas na reason for death now for millennials, and late Gen Xers like us, are stress, anxiety and depression, which leads to suicide, diba? And most of them are triggered by stress. Mataas ang cortisol nila sa katawan. That’s what our products do — to give them a healthier mental health, brain health and, overall, ‘yung body din,” he emphasized. It was revealed in the press conference that MyATOMS, in partnership with Gerry Santos, will launch a series of programs and activities to promote not just their health products but to help entrepreneurs become business masters — like the man himself, Mr. Freeze. The post MR. FREEZE PARTNERS WITH HEALTH-BOOSTING COMPANY MYATOMS appeared first on Daily Tribune......»»
Western Canada wildfires force tens of thousands to flee
Officials in western Canada's British Columbia implored tens of thousands of residents to heed warnings and evacuate Saturday as "severe and fast-changing" wildfires threatened large parts of the scenic Okanagan Valley, including the city of Kelowna. The situation in the popular boating and hiking destination was "highly dynamic," said Bowinn Ma, the province's minister of emergency management. Around 30,000 people were under evacuation orders while another 36,000 were under alert to be ready to flee, she said. "We cannot stress strongly enough how critical it is to follow evacuation orders when they are issued," Ma said at an afternoon news conference. "They are a matter of life and death not only for the people in those properties but also for the first responders who will often go back to try to implore people to leave." Kelowna, a city of 150,000, was choked with thick smoke as it became the latest population center hit in a summer of dramatic wildfires across Canada that has left millions of acres scorched. Prime Minister Justin Trudeau said he had spoken with British Columbia Premier David Eby about the "rapidly evolving and incredibly devastating wildfire situation" and pledged federal resources in responding to the disaster. Blazes far away in the neighboring Northwest Territories have meanwhile prompted the evacuation of regional capital Yellowknife, leaving the remote city of some 20,000 largely a ghost town. Winds have been fanning the wildfires toward Yellowknife, but Saturday saw some relief after overnight rain brought a sharp dip in temperatures. Since the evacuation was ordered Wednesday, most people have fled by road with several thousand taking emergency flights, Northwest Territories environment minister Shane Thompson said Saturday on X, the platform formerly known as Twitter. "Approximately 1,000 essential staff remaining in the city and surrounding area," he added. Those crews were remaining to erect defenses from the flames, while water bombers have been seen flying low over the city, with the Canadian military also helping out. - 'Incredible' exodus - Tony Whitford, a former commissioner for the Northwest Territories and a longtime resident of Yellowknife, arrived in the city of Calgary on one of the first flights out and gave the evacuation high marks. "My compliments to them all," Whitford, who is 82 and wheelchair-bound, said of the organizers. "It's so complex -- 20,000 people -- it's incredible. It went smoothly." Several towns and Indigenous communities were evacuated earlier. The exodus from Yellowknife means half the population of the near-Arctic territory has been displaced. The ongoing fires have caused "terrible loss," Trudeau told reporters after meeting Yellowknife evacuees Friday as they arrived in Edmonton, Alberta, with no idea when they may return home. Martha Kanatsiak, who has lived in Yellowknife for 28 years, arrived late Friday in Calgary. "I'm okay, but I feel sad and depressed and worried. I never saw something like this," the 59-year-old Inuit retiree told AFP. Some 40 flights carrying around 3,500 passengers from Yellowknife have arrived in Calgary, said officials in the city, which has made nearly 500 hotel rooms available. - Northwest US threat - In British Columbia, blazes have already destroyed several properties in West Kelowna, separated by Okanagan Lake from its larger, eponymous neighbor. Among them is the Lake Okanagan Resort, according to local media, which is known for having hosted high-profile politicians such as British prime minister Margaret Thatcher. Eby on Saturday announced an emergency order halting non-essential visits to the area. The order, which bans visitors from checking in at hotels and other temporary accommodations, covers Kelowna and the nearby towns of Kamloops, Oliver, Penticton and Vernon as well as Osoyoos near the US border. "If you are currently in accommodations in these areas, we are asking you to voluntarily check out early and free up those spaces for evacuees and responders," Ma added. Meanwhile across the border in the United States, several thousand people were forced to flee wildfires in Washington state, with at least one death reported, local media said. An evacuation was ordered for Medical Lake, a town outside Spokane and next to a US Air Force base, while a section of the vital I-90 highway was closed, authorities said. Canada is experiencing a record-setting wildfire season, with official estimates of over 14 million hectares (34.6 million acres) already burned -- roughly the size of Greece and almost twice the area of the last record of 7.3 million hectares. Four people have died so far. Scientists say human-caused global warming is exacerbating natural hazards, making them both more frequent and more deadly. bfm/bbk/des/acb The post Western Canada wildfires force tens of thousands to flee appeared first on Daily Tribune......»»