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S. Korean migrant’s tale to open Asia’s biggest film festival
The world premiere of Jang Kun-jae's "Because I Hate Korea" will open Asia's largest film festival Wednesday night as it looks to rally from a year marked by scandal and budget cutbacks. The South Korean director's tale of a disillusioned young woman who relocates to New Zealand is among 209 official entries from 69 countries set to unspool at the Busan International Film Festival, which runs until 13 October. Eighty will be making their world premieres in the southern port city. This year's edition comes as organizers grapple with the fallout from former festival director Huh Moon-yung's resignation in May amid accusations of sexual misconduct. The scandal saw BIFF's 2023 budget reduced by about 10 percent as sponsors withdrew in the wake of the allegations, according to organizers. Kang Seung-ah, now serving as acting deputy director, acknowledged they had endured a "difficult phase" before assembling a lineup she said was "more substantial than ever before". Opening night director Jang, who noted he'd attended BIFF far more as an audience member than a filmmaker, told a late afternoon news conference he had sought to address serious questions with his film. "I believe it's necessary to pay attention to the fact that many young people are finding it difficult to navigate through Korean society. I started questioning whether our society is providing a fair and equitable foundation for young people to pursue their dreams," he told reporters after a preview screening. Based on the best-selling Chang Kang-myoung novel, "Because I Hate Korea" received support from BIFF's Asia Project Market back in 2016. South Korea has transformed itself into a cultural powerhouse since then thanks to the explosive success of the Oscar-winning "Parasite" and the Netflix series "Squid Game". "Many people are now showing great interest in Korean content such as K-pop, K-movies, and K-dramas. Living in such an era, they might develop a certain fantasy about South Korea, I think," Nam Dong-chul, the festival's acting interim director, told reporters. But "I thought it might be good to consider these views from the perspective of people living in Korea and especially the youth in South Korea", he said of the opening night choice. "They might have different thoughts and experiences." Frequent Bong Joon-ho collaborator Go Ah-sung, who delivered a memorable performance as the protagonist of "Because I Hate Korea", was unable to attend the festival due to a back injury. 'Dear Jinri' Despite Go's absence, the festival will still feature serious star power, with acclaimed Hong Kong actor Chow Yun Fat scheduled to receive the Asian Filmmaker of the Year award. Three of Chow's films -- "A Better Tomorrow" (1986), "Crouching Tiger, Hidden Dragon" (2000) and 2023's "One More Chance" -- will be screened in his honour. Other highly anticipated screenings include "Dear Jinri", a documentary that features late K-pop star Sulli's last and incomplete project. Sulli, born Choi Jin-ri, took her own life in 2019 after a long struggle with online bullying. The film includes her final media interview, which has not been disclosed previously. Korea's filmmaking diaspora will also be showcased with a special series of screenings that includes "Searching" (2018), starring John Cho, and director Celine Song's Sundance favorite "Past Lives". Netflix's highly anticipated "Yellow Door: 90s Lo-fi Film Club" will also have its world premiere at BIFF. The documentary spotlights South Korea's renowned cinephile generation of the 1990s, acclaimed "Parasite" director Bong among them. "The Movie Emperor", director Ning Hao's satirical take on the Chinese film industry starring Hong Kong actor Andy Lau, is set to close the festival. Ning's comedy "deftly captures the fine line between the film industries in Hong Kong and mainland China", as well as the "delicate relationship between Western film festivals and Asian filmmakers", according to the program notes. The post S. Korean migrant’s tale to open Asia’s biggest film festival appeared first on Daily Tribune......»»
Biggest franchise expo rides on growth
Franchising is expected to earn an unprecedented P30 billion by the end of the year, based on industry projections. During the Franchise Asia Philippines 2023 International Expo briefing on Monday, Philippine Franchise Association chairperson Sherill Quintana said that franchising revenues has reached P27 billion in the year to date, already surpassing the pre-pandemic 2019 revenues of P25 billion. With the growing local market, Quintana said global franchise brands should consider the Philippines as their “launching pad” in Asia. “The future is Asia, and the Philippines will be the launch pad for what the Asian economy will be able to seize for the global market,” Quintana said in a press conference in Quezon City. In the next five years, she said her group is expecting to reap 10 to 13 percent revenues for the industry over the next five years. PFA president Chris Lim said the exposition will be the biggest franchise show that the country hosted in the past 10 years. Franchise Asia Philippines 2023 International Franchise Expo will run from 27 to 29 October and the meetings of the World Franchise Council and the Asia Pacific Franchise Confederation from 24 to 30 October 2023. “More than a decade ago was the last time that a similar event was held in the Philippines, so it is really a very momentous occasion. And what a great way to really celebrate and to really show that we’re back in business, that the franchise industry in the Philippines is as vibrant as ever,” Lim added. SMX Convention Center taken up Franchise Asia Philippines 2023 overall co-chair Richard Sanz said this will be the first time for a franchise event to occupy the entire SMX Convention Center in Pasay City to showcase 1,000 local and global franchise brands from 26 countries. Further, he said 39 percent of the expo participants are new exhibitors with new concepts such as breastfeeding center, agriculture supplies, automated retail and convenience store, vape store and kickboxing gym. “This speaks of the vibrancy of the franchise sector with new players joining the market,” he said. Sanz mentioned that also 20 percent of the participants are international brands from Australia, China, Japan, Korea, Malaysia, Sinapore, Taiwan, Thailand and the United States. More than 50,000 exhibitors are expected to attend the expo. “This highlights the continued interest among Filipinos in franchising as an investment option,” Sanz said. The post Biggest franchise expo rides on growth appeared first on Daily Tribune......»»
Regional economies slowing down — WB
The World Bank expects East Asia and Pacific economies, excluding China, to grow by 4.6 percent this year as the Philippines catches up with digitalization. The WB prediction is slower than the previous 4.9 percent estimate announced by the multinational financial institution in April. If China is included, economic growth in the region is projected to settle at five percent, the World Bank’s report from Washington said last Sunday. “This is higher than average growth projected for all other emerging market and developing economies but lower than previously projected,” the World Bank said. “The East Asia and Pacific region remains one of the fastest growing and most dynamic regions in the world, even if growth is moderating,” World Bank East Asia and Pacific vice president Manuela Ferro said. The multinational financial institution said the region might continue to face challenges in supplies of goods as more typhoons hit the region in the fourth quarter this year and climate change persists. Geopolitical tensions The World Bank added geopolitical tensions aside from the Russia-Ukraine war threatens to further hamper trade. China, the world’s second largest economy, and the US have been exchanging export bans, especially on electronic and technology products. Meanwhile, the Philippines and other Southeast Asian states are protesting against China’s aggression in the West Philippine Sea. For these reasons, the World Bank said prices of goods and services might rise, forcing central banks in the region’s developing countries to raise interest rates to prevent inflation from accelerating further. However, this means consumers might cut back spending on certain goods and services, while businesses slow operations. Borrowing costs to remain high “Therefore, borrowing costs will likely remain high, constraining room for spending and raising the risk of debt distress in some countries. Furthermore, high indebtedness, combined with rising costs of servicing debt, will weigh on private investments,” the World Bank said. For its 2024 forecast, the bank is more optimistic that the region’s economy excluding China’s will expand from 4.6 percent to 4.7 percent. “Growth in the rest of the region is expected to edge up, as recovery in global growth and easing of financial conditions offsets the impact of slowing growth in China and trade policy measures in other countries,” the World Bank said. Philippine economic growth is seen to improve to 5.9 percent next year from a 5.6 percent forecast for this year. Meanwhile, China’s economy could shrink by 4.4 percent next year from a 4.8 percent estimate for 2023 due to persisting elevated debt, tamer demand for real estate, and aging population. Sustaining high growth to require reforms “Over the medium term, sustaining high growth will require reforms to maintain industrial competitiveness, diversify trading partners, and unleash the productivity-enhancing and job-creating potential of the services sector,” Ferro said. The World Bank reported digitalization and other reforms in government services in the Philippines increased productivity of firms by 1.5 percent from 2010 to 2019. Digital technologies, for example, can spread education and health services in the provinces to ensure a bigger pool of high-skilled and energetic workers. The post Regional economies slowing down — WB appeared first on Daily Tribune......»»
Indonesia launches Southeast Asia’s first high-speed rail
Indonesia launched Southeast Asia's first high-speed railway on Monday, a delayed, multibillion-dollar project backed by China that President Joko Widodo hailed as "a symbol of our modernization". With a top speed of 350 kilometers (220 miles) per hour, the bullet train "Whoosh" can get between the capital Jakarta and Bandung in 45 minutes. The 140 km journey would previously have taken about three hours by train. "The Jakarta-Bandung high-speed train marks our efficient, friendly, and integrated mass transportation system," Widodo said during a ceremony at the capital's central station. "It is a symbol of our modernization in the public transport, seamlessly connecting with other modes of transportation." Widodo said the 600-capacity train was the first high-speed rail transportation in Southeast Asia. It is part of Beijing's Belt and Road initiative -- a decade-old program of China-backed infrastructure projects. The president said the name was actually an acronym, standing for a tagline of "Waktu Hemat, Operasi Optimal, Sistem Handal" -- which in Bahasa Indonesia means "Saving time, optimal operation, reliable system". It was built by PT KCIC, which is made up of four Indonesian state companies and Beijing's China Railway International Co. The project was initially set to cost less than $5 billion and be completed by 2019. However, delays caused by construction challenges and the Covid-19 pandemic led to a surge in costs. In preparation for its opening, officials have conducted public trials for the new high-speed route. Last week, Transportation Minister Budi Karya Sumadi confirmed that the government would extend the high-speed train route from Bandung to the country's second-biggest city Surabaya. Last month, Chinese Premier Li Qiang joined Senior Minister Luhut Pandjaitan on a ride aboard the train during his Jakarta visit for summits with Southeast Asian leaders. Pandjaitan told reporters on Thursday that Widodo plans to welcome Chinese President Xi Jinping in the future to ride the train, but did not give more specifics. agn/ebe/sn/leg © Agence France-Presse The post Indonesia launches Southeast Asia’s first high-speed rail appeared first on Daily Tribune......»»
Scientists uncover a scaly surprise with new pangolin species
The small, scaly, and highly endangered pangolin has been keeping a secret: it comprises not eight species but nine, with a new one discovered through analysis of confiscated scales. Scientists previously believed there were four Asian and four African varieties of the shy, nocturnal creature, which is often described as the world's most trafficked mammal. However, even as the species was discovered, there are signs it may be disappearing, according to research published Tuesday in the journal Proceedings of the National Academy of Sciences. Pangolin scales are coveted for use in traditional medicine, despite being made of keratin, just like fingernails, and the diminutive creature is also hunted for its meat. More than a million are believed to have been poached from the wild in the decade to 2014, according to conservationists, and all international trade has been banned since 2016. Despite its elusive nature, there have been suggestions before that the pangolin family might be bigger than believed. Analysis of 27 scales confiscated in Hong Kong in 2012 and 2013 suggested a lineage unrelated to the eight known species. But only limited gene fragments were available, and no definitive conclusion could be reached. Picking up that trail, researchers analyzed scales from two confiscations in China's Yunnan province in 2015 and 2019 and compared them against whole genome data from all previously known species. They found a lineage "distinct from all eight currently known pangolin species", with signs it belonged to the Asian or "Manis" branch of the pangolin family. They assigned the new species the tentative name "Manis mysteria" in a nod to its enigmatic nature and found it likely diverged from the Philippine and Malayan pangolin species about five million years ago. The newly described animal's existence only came to light through samples seized from traffickers, and the research suggests the new species is already under pressure. Analysis "showed genomic signatures of a declining population, including the relatively low genetic diversity when compared to other pangolins... (and) high levels of inbreeding and genetic load". Just where Manis mysteria roams remains... something of a mystery. Asian pangolins arriving in Hong Kong and Yunnan are believed to mostly originate in Southeast Asia. But because the new species does not look very different from its Asian cousins, it may well have been overlooked in the wild. It could also have escaped notice because it lives in an understudied region, or simply because pangolins tend to be hard to find. Regardless, the findings suggest the "urgent need" for more research, as well as "effective strategies for this mysterious species", the study said. The post Scientists uncover a scaly surprise with new pangolin species appeared first on Daily Tribune......»»
NAIA rises in rankings of world’s most internationally connected airports
The Ninoy Aquino International Airport (NAIA) has established itself as one of the most internationally connected airports in the world. Known by its International Air Transport Association (IATA) code, MNL, it ranked 15th in the top 50 global airport mega hubs and secured the third spot in the top 25 low-cost carrier airport mega hubs. According to the 2023 Megahubs Index by OAG, a leading provider of digital flight information, intelligence, and analytics for airports, MNL has climbed from 29th place in 2019 to 15th place this year in terms of international connectivity. The flag carrier, Philippine Airlines, emerged as the dominant air carrier with a 32% share of flights. In this list, led by the United Kingdom's London Heathrow Airport, MNL also ranks 6th among the top international mega hubs in the Asia Pacific region, following KUL (Malaysia), HND (Japan), ICN (Republic of Korea), BKK (Thailand), and SIN (Singapore). OAG noted, “The presence of seven Asian airport hubs in the Global Top 20 is significant considering the region is still on the path towards a full recovery.” Currently, MNL hosts 40 international carriers serving 58 international destinations. The latest addition to NAIA’s roster in 2023 is ZIPAIR, which launched its first flight between Manila and Narita last July. Additionally, Philippine Airlines has introduced nonstop flights to Perth, and Air China now directly connects Tianfu Chengdu to NAIA. Among the top 25 mega hubs for low-cost international connections this year, MNL stands out in third place, trailing only KUL (Malaysia) and ICN (Republic of Korea). MNL is the home of Cebu Pacific Air, the Philippines’ leading low-cost carrier (LCC), which will be launching flights to Da Nang, a new destination from Manila, beginning December 7th. Thirteen Asia Pacific airports, including MNL, dominate the rankings, reflecting the high level of LCC penetration in South Asia and Southeast Asia. “We are pleased that MNL is able to ride the momentum brought about by the strong and consistent travel rebound from the COVID-19 pandemic, as well as the LCC penetration in our region. We are likewise grateful for the confidence the international carriers have extended to us. Testament to this is the growing number of applications from various international carriers who wish to operate flights in NAIA,” Manila International Airport Authority (MIAA) Officer-in-Charge Bryan Co said. “NAIA being the country’s main gateway makes it incumbent upon us, as the airport authority, to expand the destinations Filipinos, as well as our guests, can fly to and from MNL,” added Co. HK Express is set to launch its inaugural flight between Manila and Hong Kong on 13 October, while United Airlines is scheduled to launch nonstop flights connecting Manila with San Francisco starting 30 October. The post NAIA rises in rankings of world’s most internationally connected airports appeared first on Daily Tribune......»»
IPOPHL launches site-blocking mechanism vs piracy
The Intellectual Property of the Philippines has announced the release of rules on site blocking, the measure that disrupts access to pirated sites, seen to delist the Philippines from being third in East and Southeast Asia in having the highest piracy rate. The release of Memorandum Circular 23-025 or the Rules on Voluntary Administrative Site Blocking, signed by IPOPHL director general Atty. Rommel Barba, signals the celebration of the Philippine Creative Industries Month this September. Barba said Memorandum Circular 23-025 was signed last 20 September 2023, effective two months from publication Result of years-long work “The rules are a result of years-long work with the National Telecommunications Commission and several internet service providers who refuse to sit down and watch while our creative industry suffers. With the site blocking mechanism soon up and running, IPOPHL, as an ex-officio member of the Philippine Creative Industries Development Council, is ecstatic to say the Philippines now has an essential tool to protect the creativity that drives our economy and defines our cultural landscape,” Barba said. With site blocking to be soon in place, Barba hopes to replicate the success of Indonesia where more than 50 percent of consumers have stopped or now rarely access pirate services because of its government’s blocking measures which started in 2019. “We encourage rights holders to optimize this tool and protect the value of your creative assets,” Barba said. Under the rules, the process is initiated once a rights holder or a duly authorized representative files a written request with the IP Rights Enforcement Office or IEO followed by the payment of filing fees. The application will immediately be evaluated by an officer from the IEO who is given ten working days to submit an Evaluation Report. The report carries a recommendation on the issuance or non-issuance of a site-blocking order and is elevated to the Supervising Director or Deputy Director General for approval within five working days. Collaboration vs piracy To effectively implement the rules, IPOPHL signed on Wednesday partnership agreements with the NTC and ISPs, namely Globe Telecom Inc., Smart Communications Inc., PLDT Inc., Sky Cable Corp. and DITO Telecommunity Corp. Under the Memorandum of Understanding, ISPs commit to willingly block sites directly upon IPOPHL’s request issued after a determination of violation, thereby streamlining the current process which requires the involvement of the NTC, the agency being the primary regulator of ISPs. Meanwhile, the memorandum of agreement with the NTC widens IPOPHL’s oversight to over 300 ISPs who are not part of IPOPHL’s site blocking MOU with ISPs, obligating them to disable access to piracy sites. Also at the event were the Motion Picture Association, Asia Video Industry Association and the GMA Network Inc. as observers and partners. IPOPHL launched the new rules at a time when site blocking is gaining traction around the world as an effective anti-piracy tool. That same year, AVIA’s Coalition Against Piracy released a YouGov survey showing that 49 percent of Filipinos admit to using streaming piracy websites or torrent sites, placing the Philippines third among East and Southeast Asian countries in terms of visiting piracy streaming sites. The post IPOPHL launches site-blocking mechanism vs piracy appeared first on Daily Tribune......»»
AboitizPower utilities score tech win for use of A.I.
An artificial intelligence-enabled software developed by Aboitiz Power Corporation (AboitizPower) distribution utilities Davao Light and Power Co., Inc. and Visayan Electric Company, Inc. (Visayan Electric) with Aboitiz Data Innovation Pte. Ltd. gained recognition for helping advance technology and digital transformation in the utility industry. ADI was awarded the Philippines Technology Excellence Award for A.I. - Utilities in the Asian Technology Excellence Awards 2023 in Bangkok, Thailand for Project A.I. CU (“I see you”), a homegrown idea that began in Davao Light. The project utilizes A.I. to optically scan images of electrical installation components — like those mounted on electrical poles — and check if these align with the records of a distribution utility. After a series of pilot tests in Davao Light, the software was able to identify and tag the asset by its individual and unique compatible unit (CU) number which was manually assigned to it beforehand. Each CU represents a grouping of electrical items that a certain electrical asset is composed of. Grouping materials and categorizing assets makes it easier for distribution utilities to identify their infrastructure. Overall, verifying the accuracy of records ensures regulatory compliance, better asset management, operational efficiency, and the continued trust that a distribution utility can deliver justified and cost-effective electricity prices in its franchise area. The use of A.I. to recognize CUs can also significantly reduce the need for manpower and rendered work hours, allowing team members to dedicate time and effort to other activities. Typically, trained engineers are sent to each electrical installation and visually identify each item installed. “The inspiration for Project A.I. CU goes beyond streamlining asset verification. This initiative serves as a window into how we are leveraging artificial intelligence to transform our operations, making them more efficient and smarter,” said Davao Light Meter Shop Supervisor Mark Anthony Catalan, adding that the idea for Project A.I. CU began in 2019 and was proposed to Davao Light in 2020. Catalan was joined by fellow Davao Light innovators Eric Camerino, Jeffrey Lingatong, Raquel Caro, Russel Bolivar, and Prince Yamyamin in developing Project A.I. CU in its early stages and rejuvenating the search for other possible A.I. applications in the operations of Davao Light, particularly in the aspects of safety, audit, and maintenance. The group was able to complete an A.I. model for Project A.I. CU as a proof of concept before turning it over to ADI, the data science and A.I. arm of the Aboitiz Group. In the near future, ADI aspires to refine and scale the project for its full implementation in Visayan Electric and Davao Light. These AboitizPower subsidiaries are the second and third-largest distribution utilities in the Philippines, respectively. Once fully implemented, Project A.I. CU is estimated to save both companies millions of pesos in annual operating costs. As such, ADI will also assess its potential use in other AboitizPower distribution utilities. “This award demonstrates the data-driven innovations being applied in AboitizPower and highlights the growing synergies within the Aboitiz techglomerate, which in this case is between our distribution utilities and ADI,” said AboitizPower President and CEO Emmanuel Rubio. “It also reaffirms AboitizPower’s mission of ‘Transforming Energy for a Better World’ as it continues its digitalization and innovation initiative to ensure quality service.” In line with the Aboitiz Group’s Great Transformation, and as a partner in Philippine development via its power generation and distribution assets, AboitizPower is focusing its transformation in the realms of decarbonization, digitalization, and growing beyond its core business. The Company had already indicated its goal of growing its renewable energy portfolio to at least 4,600 megawatts or 50% of its generation mix by the next decade to aid the country’s energy transition to a cleaner power mix. The Asian Technology Excellence Awards was presented by Asian Business Review, a regional magazine serving Asia's dynamic business community. The post AboitizPower utilities score tech win for use of A.I. 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......»»
Phl to rely on rice imports from Vietnam, Cambodia
JAKARTA, Indonesia – The Philippines and Vietnam are working on a 5-year agreement to improve rice output and food security in the two Southeast Asian nations, Vietnamese Prime Minister Pham Minh Chinh said on Thursday. During their meeting on the sidelines of the ASEAN Summit, the Vietnamese leader told Philippine President Ferdinand Marcos Jr. that his country is ready to help the Philippines obtain food security and boost rice production. "Our two countries will conclude an inter-government agreement on rice trade so that our rice export to the Philippines will ensure food security in the Philippines," he told Marcos Jr. "We look forward to having a stable framework of cooperation on rice trade for a long period of at least (five) years," the Vietnamese official added. Prime Minister Pham Minh Chinh then said that Vietnam "will ensure" its rice production and told Marcos that the Philippines can also ensure imports from its neighboring country. Marcos Jr. then noted that his Vietnamese counterpart was ready to let the Philippines import rice as the Philippine leader acknowledged that food supply is a "main issue" in the Philippines. "In Asia, food supply is very much determined by rice and the prices," Marcos said. The Philippine president then expressed his optimism that both his country and Vietnam would have "very fruitful" arrangements. Rice imports from Cambodia In a separate bilateral meeting with Prime Minister Hun Manet here in Jakarta, Marcos opened up the possibility of sourcing rice from Cambodia to the Philippines. Marcos then asked for Cambodia's support in making things easier for rice importers so that there would be a steady rice supply after typhoons hurt rice production in the Philippines. Initially, business-to-business sales deals between Cambodian-based firm Khmer Foods company and rice importers in the Philippines resulted in the export to the Philippines of about 2,500 tons of rice in May this year. This was the first time the Philippines is importing a significant tonnage of rice from Cambodia after the passage of the Rice Tariffication Law in 2019, which liberalized rice trade in the Philippines and allowed private entities, instead of the government, to import rice from any country, subject to compliance with sanitary and phytosanitary requirements and import duties. Cambodian officials say that by 2024, they want to have a 1 percent share of the imported rice market in the Philippines. They have urged stakeholders to keep exporting rice to the Philippines and even increase the amount Cambodians export. *Aviation* With regard to civil aviation cooperation, both countries agreed to expand the direct flights between the Philippines and Cambodia given the improvements in the COVID-19 situation and easing of restrictions. “…I shall, as my homework when I get back, look into the possibility of our airline increasing the number of flights to other destinations in Cambodia that we would like to go to. This is something that goes both ways,” the President also said. The President also mentioned the cultural, educational, and people-to-people exchanges between the Philippines and Cambodia that could be enhanced further. “I’m very proud of our overseas Filipino workers and the teachers who have gone abroad and places. Many who’ve come from my part of the country and we have been able to assist our allies and our partners in terms of exchange of culture and the like,” Marcos said. The post Phl to rely on rice imports from Vietnam, Cambodia appeared first on Daily Tribune......»»
Asian Institute of Management appoints Erramon Aboitiz as new chairman
UnionBank of the Philippines chairman of the Board of Directors Erramon "Montxu" I. Aboitiz has taken on a pivotal role as the new chairman of the Board of Trustees at the Asian Institute of Management beginning 1 September 2023. Aboitiz joins an esteemed group of accomplished business leaders who share the commitment to advance the growth and well-being of Asia and its people. Montxu is the seventh chairman of AIM, succeeding Peter Garrucho who assumed the role in 2017. Montxu served as the president and CEO of Aboitiz Equity Ventures for a decade from 2009 to 2019, and briefly as the CEO of Aboitiz Power Corporation in 2018. Additionally, Montxu is a former trustee of the Philippine Disaster Resilience Foundation before Aboitiz Group president and CEO Sabin Aboitiz assumed the same role. Montxu earned a Bachelor of Science degree in Business Administration with a major in Accounting and Finance from Gonzaga University in Spokane, Washington, USA. In 2011, he received the Management Man of the Year award from the Management Association of the Philippines and was recognized as Entrepreneur of the Year by Ernst & Young. Seven years later, AIM conferred an honorary doctorate degree in management on Montxu. In 2019, the Aboitiz Group, through its social responsibility arm the Aboitiz Foundation, made a $10 million donation to AIM, marked as the Aboitiz 100th Anniversary Commitment Fund. The said fund is being used to address the local and regional gap in data science and innovation. With this donation, AIM’s Aboitiz School of Innovation, Technology and Entrepreneurship conducts world-class teaching and research with real-world applications with data science professionals and leaders. The post Asian Institute of Management appoints Erramon Aboitiz as new chairman appeared first on Daily Tribune......»»
Lone Phl, SE Asian entry vies for Venice short film honors
Sam Manacsa’s sophomore film Cross My Heart and Hope to Die, the only entry from the Philippines and Southeast Asia, vies to win the Orizzonti Short Film Competition at this year’s Venice Film Festival. Produced by Chad Angelic Cabigon and Carlo Francisco Manatad, Cross My Heart and Hope to Die tells the story of a girl named Mila who remains unpaid at work. She finds comfort in her love interest’s constant phone calls. But that promise of hope may lead to tragedy and sad love songs. [caption id="attachment_179113" align="aligncenter" width="1391"] BEHIND the scenes of ‘Cross My Heart and Hope to Die.’[/caption] “There are dire consequences in a culture devoid of empathy and morality. But who will be there to witness it and suffer? This chronicles a woman in her struggles, of oppression that stems from a semblance of entitlement and the depths of desperation where it leads to, grasping onto anything that may provide solace,” Manacsa said in a statement. On 30 August, the Consulate General of the Philippines in Milan and some members of the Filipino community attended the film’s world premiere at the prestigious film festival held at Lido de Venezia. Cross My Heart and Hope to Die will go against Marina Alberti’s Aitana, Leila Basma’s Sea Salt, Erenik Beqiri’s A Short Trip, Wissam Charaf’s Et Si Soleil Plongeait Dans L’Ocean De Nues, Nina Gantz’s Wander to Wonder, Margherita Giusti’s The Meatseller, Aldo Luliano’s Dive, Iggy London’s Area Boy, Hossein Molayemi and Shirin Sohani’s Dar Saaye Sarv (In The Shadow of the Cypress), Esteban Pedraza’s Bogota Story, Xandra Popsecu’s Sentimental Stories and Wu Lang’s Duan Pian Gushi (Short Story). [caption id="attachment_179114" align="aligncenter" width="1572"] Jorrybell Agoto as Mila. | PHOTOGRAPHS COURTESY OF ‘CROSS MY HEART HOPE TO DIE’[/caption] Manacsa helmed Kung Wala Nang Tulad Natin in 2016. She also served as art director for Whether the Weather is Fine (2021), Sila-Sila (2019) and Never Tear Us Apart (2018). Winners of different categories in the film festival will be announced on 9 September. The post Lone Phl, SE Asian entry vies for Venice short film honors appeared first on Daily Tribune......»»
‘Intimate Audrey:’ An up-close and personal look at a Hollywood and fashion icon
First Lady Liza Araneta-Marcos led the ribbon cutting ceremony on 31 July to formally open the first Asian stop of Intimate Audrey, the bespoke exhibition on the life of the late Hollywood and fashion icon Audrey Hepburn that was created by her son Sean Hepburn Ferrer. Ferrer himself attended the ceremony, with his daughter Emma in tow, held at The Museum at S Maison, located at the Mall of Asia complex in Pasay City, where the exhibition will run until 29 October 2023. The exhibition was brought to the Philippines through the partnership of FashX, a fashion trade and licensing company, and SM Supermalls, as represented at the opening by Hans Sy and Teresita Sy-Coson. [caption id="attachment_169574" align="aligncenter" width="2560"] Hans Sy, chairman of the executive committee of SM Prime.[/caption] [caption id="attachment_169575" align="aligncenter" width="2560"] First Lady Liza Araneta-Marcos with SM Investments Corporation vice chairperson Teresita Sy-Coson.[/caption] [caption id="attachment_169573" align="aligncenter" width="730"] Irene Marcos-Araneta, Joanne De Asis-Benitez and Anna Sobrepeña. | Photographs Courtesy of Sm Supermalls[/caption] Intimate Audrey is the third exhibition Ferrer has created for his mother in the last 30 years. It first opened on 4 May 2019 in time for Hepburn’s 90th birth anniversary and held in her birthplace in Brussels, the capital city of Belgium. It then made a stop in what she considered her home country, Netherlands, specifically in its capital, Amsterdam, where she spent much of her youth during the war years. The exhibition features over 800 photographs, memorabilia, fashion items, drawings, writings, movie posters and trophies that were thoughtfully curated and laid out around the 730-square meter space at The Museum at S Maison. There are also videos playing in strategic spots to highlight specific chapters in her life and at the screening room to show clips from her timeless movies Roman Holiday, Sabrina, Breakfast at Tiffany’s, to name a few. At the end of the exhibition — which covers Hepburn’s life from childhood to ballet training to conquering Hollywood, getting married, becoming a mother and finally doing humanitarian work as UNICEF ambassador — there’s a fashion tribute put up especially for the Manila stop. Titled Audrey: An Homage from Filipino Fashion, this section highlights the works of celebrated Filipino designers who got inspiration from Hepburn’s films and documentaries on her life. The participating designers include Pepito Albert, Ivar Aseron, Vic Barba, Mike Dela Rosa, JC Buendia, Len Cabili, Auggie Cordero, Rhett Eala, Jun Escario, Ben Farrales, Cesar Gaupo, Rajo Laurel, Jojie Lloren, Dennis Lustico, Randy Ortiz, Frederick Peralta, Puey Quiñones, Patrice Ramos-Diaz, Philip Rodriguez, Cary Santiago and National Artists Salvacion Lim-Higgins and Ramon Valera. Tickets to Intimate Audrey are available online via SM Tickets and at all SM Tickets offline locations, such as SM Department Stores and SM Cinemas. Regular price is P850. There’s a special rate of P450 for students, senior citizens, PWDs, national athletes and medal of valor awardees. The post ‘Intimate Audrey:’ An up-close and personal look at a Hollywood and fashion icon appeared first on Daily Tribune......»»
Singapore races to save ‘Garbage of Eden’
Visitors to the island hosting Singapore's only landfill might expect foul odors and swarms of flies, but instead, they are greeted with stunning views of blue waters, lush greenery, and wildlife. Welcome to Pulau Semakau, the land-scarce city's eco-friendly trash island, where ash from the incinerated garbage of its nearly six million people is dumped. With just over a decade to go until the site is projected to be filled, the government is in a race against time to extend the lifespan of the island landfill, so serene it has earned the moniker "Garbage of Eden". "This is the only landfill in Singapore, and due to the small area and the competing land needs, it is difficult to find another location," Desmond Lee, the landfill manager at the National Environment Agency (NEA), which oversees the island, tells AFP. "It is imperative that we continue to use the Semakau landfill for as long as possible, and if possible extend its life beyond 2035," he says. 'Massive waste' Singapore generated 7.4 million tonnes of waste last year, of which about 4.2 million tonnes, or 57 percent, were recycled. Plastics remain a sticking point for the island’s waste drive, with just 6 percent recycled last year. Food waste, of which 18 percent was recycled, also poses a problem. Environmental group Greenpeace criticized the city-state for producing a "massive" amount of waste for its size. In 2019, the government launched a "zero-waste" campaign seeking to boost the amount of recycled waste to 70 percent and slash the amount of trash dumped at Semakau by 30 percent before the end of the decade. Roughly the size of New York City, Singapore has carefully managed its rapid growth in recent decades to avoid the problems faced by other fast-developing Asian metropolises, such as overcrowding and undisposed garbage. The government built the offshore landfill after an inland waste depot began running out of space in the early 1990s. Engineers merged Semakau -- whose residents had earlier been resettled to the mainland -- with the nearby island of Pulau Sakeng. A seven-kilometer (four-mile) perimeter bund was constructed to enclose part of the open sea between the two islands and create space for the landfill, which began operating in 1999. Pollution risks With Singapore’s population growing steadily, authorities were forced to roll out bold, space-saving solutions. Incinerators were deployed to burn non-recyclable waste, before authorities shipped the ash to Semakau on a covered barge. But the practice of burning the rubbish has been criticized by environmental groups for its pollution. "The process results in pollution in each of its phases -- from waste hauling to managing air emissions and residues," Abigail Aguilar, Greenpeace's anti-plastics campaigner for Southeast Asia, told AFP. "While aesthetically it might be appealing, the landfill still contains waste that could potentially leak," said Aguilar. The NEA has said its incineration plants are fitted with treatment systems that clean the gas before they are released into the atmosphere. It added that the landfill had been lined with an impermeable membrane and marine clay to contain any potential pollution within the site, and the water is tested regularly for leakage. Eco island There could still be more use for Singapore's garbage island, with plans to build solar farms and also to turn ash from the landfill into road construction materials. After the barge docks on Semakau, earthmovers scoop the ash and load them onto giant yellow tipper trucks for the trip to the landfill, which has been subdivided into sections. As each pit is progressively filled up over the years, the area is covered with soil, allowing for the growth of natural vegetation. Mangrove forests have also been planted, making the island verdant and attracting wildlife. During a recent visit by an AFP team, a couple of brahminy kites were seen swooping down on the water to catch fish, while a white-bellied sea eagle circled above. Red-wattled lapwings made bird calls on the edge of a mangrove patch and little terns maneuvered above a filled-up pit. A family of grebes swam on a pond, its dike lined with coconut trees. The post Singapore races to save ‘Garbage of Eden’ appeared first on Daily Tribune......»»
Fortman Cline declared Best M& A Advisory Team in SE Asia
Fortman Cline Capital Markets was recently named the Best Mergers and Acquisitions Advisory Team in Southeast Asia for 2023 by Capital Finance International, a premier London-based print journal and online resource for business, economics and finance. In recognition of FCCM’s work as a corporate finance advisory and consulting firm, CFI wrote that the firm has “demonstrated a track record on assisting entrepreneurs and family businesses achieve transformational growth via joint ventures, external fund-raising placements, and inorganic acquisitions.” “In addition, it has assisted a number of entrepreneurs monetize their businesses via strategic transactions with responsible partners that could transform businesses towards a larger scale. The team has also developed specialized practices in healthcare, consumer businesses, infrastructure, and logistics. It has complemented its workforce with industry professionals,” CFI further said. The CFI award program aims to demonstrate “the many ways in which the economies of the world are converging” and the awards are given to individuals and organizations “that truly add value.” This is the second time that CFI has bestowed the recognition to FCCM. The first time was in 2019. That same year, FCCM was also given the Most Innovative Solutions Provider Award from International Finance, Inc. FCCM has been ranked as one of the top M&A firms in the Philippines by Bloomberg and in Southeast Asia by Thomson Reuters. “Having meaningful dialogues with our clients over a company’s lifecycle is very important. This develops customer loyalty, and annuity like revenue streams vis-à-vis a transaction-oriented approach to business,” said FCCM president and co-founder Daniel D. Ibasco. FCCM acted as one of the two financial advisers of Professional Services Inc., the company that owns The Medical City, as it recently sealed the deal with Luxembourg-based CVC Capital Partners. The deal will involve a control entry by CVC over the hospital’s Philippine assets and operations through a combination of convertible notes and secondary share purchases via an ongoing tender offer. FCCM has also assisted PSI in refinancing $146 million worth of guaranteed obligations of its subsidiary in Guam with non-recourse long-term debt from a syndicate of South Korean lenders. FCCM has assisted TMC grow into one of the largest healthcare networks in the Philippines through a series of multiple transactions performed for TMC over the last 10 years. In November 2022, FCCM advised TMC on the issuance of up to P12.7 billion of convertible notes to Universal Healthcare Services, Pte., Ltd., which is managed by CVC. The move is part of the hospital’s recapitalization program. “The current industry environment is ripe with opportunity driven by a demand for quality healthcare services, an increase in healthcare spending, and a growing middle class population,” Ibasco said. Prior to the CVC-TMC deal, FCCM advised Mang Inasal Philippines Inc. on its sale of a 70-percent stake to Jollibee Foods Corporation, and All First Equity Holdings on its acquisition of a 60-percent equity stake in Philippine Geothermal Production Company, Inc. from Chevron Geothermal Philippines Holdings, LLC (USA). The firm was also the financial advisor of San Miguel Corporation’s acquisition of Citra Tollways’ interest in the Southern Luzon Expressway, the sale of Air 21 Group to AC Logistics Holdings Corporation, the sale of 51% of The Generics Pharmacy to Robinson Retail Holdings, Inc., Bounty Fresh Food Inc.’s $300 million acquisition of Tegel Foods Ltd. in New Zealand, Fernwood Holdings, Inc.’s acquisition of a 100-percent stake in Liquigaz Philippine Corporation, and more. Before founding FCCM along with Gary P. Cheng in 2007, Ibasco headed Asian Capital Markets and Southeast Asian Investment Banking for Bear Stearns and Co. in Singapore and Hong Kong. He has over 30 years of experience in investment banking, debt and equity capital markets, private and venture equity and special situations, specializing in emerging markets and Southeast Asia. Cheng, on the other hand, is currently the Managing Director of FCCM. He was the president and CEO of Amalgamated Investment Bancorporation and has worked with J.P. Morgan in New York, Hong Kong, and London. Ibasco and Cheng are joined in the top executive positions by Clarisse T. Tan and Michael C. Tiutan, Executive Directors for the Investment Banking Group. Earlier in the year, FCCM established a management consulting arm under the leadership of Francis S. Del Val, who has more than three decades of global executive experience. The post Fortman Cline declared Best M&A Advisory Team in SE Asia appeared first on Daily Tribune......»»
Malnutrition, hunger shade Phl growth
The Asian Development Bank’s outlook for the Philippines remains unchanged since April, maintaining that the country’s economy would expand by 6.0 percent for the remainder of the year and grow by 6.2 percent in 2024. In April, Kelly Bird, ADB country director for the Philippines, noted that the economy was in expansion mode after the gross domestic product grew 7.6 percent throughout 2022. “It (Philippine economic growth) is expected to moderate this year (2023) from the previous year’s forecast-beating outturn, but will remain on a healthy expansion mode underpinned by rising domestic demand and a recovery in services, particularly tourism,” he said. In the latest update of its quarterly Asian Development Outlook 2023 report, the ADB said domestic demand and services continue to drive growth in Southeast Asia, with many economies in the region, including the Philippines’, benefiting from strong tourism recovery. It said robust investment and private consumption, along with rising employment, growth in production and retail sales, and upbeat activity in private and public construction, is propelling the Philippine economy forward, making the country a strong candidate for the fastest-growing economy in the region in 2023, even surpassing Singapore’s and Vietnam’s. Filipinos look forward to ADB’s forecast that growth will remain strong, albeit slowed by global headwinds, high inflation, and tighter monetary policy. GDP growth should pick up even more as the external environment improves. Hopes are pinned on private consumption and investment to continue to expand, though easing from 2022’s brisk pace while household spending will be buoyed by rising employment and steady remittances from Philippine workers overseas. The bank’s outlook on the Philippine economy should get President Marcos into a pumped-up mood as he gets ready to address the country in his 2nd State of the Nation address on Monday. But ADB’s sobering notes on hunger and malnutrition threaten to dim whatever bright disposition he may have at the moment. In its report, the ADB notes that despite rapid economic growth in recent years, these “impressive gains” along with whatever efforts to reduce poverty have not lowered hunger, particularly among people in lower income levels. The ADB cites data from the UN Food and Agriculture Organization indicating the prevalence of food insecurity in the Philippines, averaging 43.8 percent of the total population from 2019 to 2021 with 5.2 percent of the people undernourished. An Expanded National Nutrition Survey in 2021 revealed that under-nutrition rates were “very high,” with 26.7 percent of children under five years old stunted. Among school-age children (5-10 years old), the stunting rate was 19.7 percent and much higher among the poorest quintile at 32.7 percent. Alarming figures indicate that chronic malnutrition and stunting are strongly linked to disease and premature death; they adversely affect crucial stages of development (of children), causing cognitive and behavioral deficits, learning disabilities and ultimately a sub-optimal and uncompetitive labor force. The government’s response, the ADB observed, was short-term measures providing social support to vulnerable groups and temporarily easing import restrictions on some agricultural products. And this note should be of particular concern to the President, who remains unmoved by calls to designate a full-time, hands-on expert thoroughly steeped in agriculture at the agency. These data are also alarming: Agriculture growth in the Philippines has underperformed for the past two decades; it grew 3.5 percent on average annually from 2000 to 2010, then by 1.5 percent from 2011 to 2022; Agriculture’s share of GDP has declined from over 15 percent in early 2000 to an average of 9 percent in the past five years, with one-fifth of employment remaining in agriculture; and today’s Philippine agriculture labor productivity continues to lag behind its peers in the Southeast region. The ADB recommended that government strengthens food security and nutrition through social protection responses. Data on poverty incidence showed it declined from 23.5 percent of the population in 2015 to 16.7 percent in 2018 but rose again to 18.1 percent in 2021 because of the pandemic. As the President prepares to take on another year in office, we hope that the President is aware of the urgencies that need to be effectively tackled in the sector he insists on overseeing and of the sociopolitical costs and the not-so-flattering image the country — and the world — would have of his leadership if he leaves these issues substantially unresolved. The post Malnutrition, hunger shade Phl growth appeared first on Daily Tribune......»»
Martial arts superstar Bruce Lee’s legacy endures 50 years on
Hong Kong businessman W. Wong still remembers the day in 1972 when he first heard neighborhood kids rave about a figure who seemed larger than life: Bruce Lee. Lee, a consummate martial artist whose films spawned a kung fu craze around the world, was one of the first Asian men to achieve Hollywood superstardom before his death at 32. His influence can still be felt in Hong Kong, where he spent his childhood and final years, as fans this week hold exhibitions and martial arts workshops to mark the 50th anniversary of Lee's death. "Every child needs some kind of role model, and I chose Bruce Lee," said Wong, 54, who has led the city's largest fan club devoted to the star for nearly three decades. "I had hoped my life would resemble the Bruce Lee I saw: handsome, strong, with great martial arts skills and a heroic image." At a studio for Wing Chun -- a style of martial arts Lee practiced before inventing his own Jeet Kune Do method -- the martial arts master is revered as something akin to a patron saint. Studio owner Cheng Chi-ping, 69, told AFP his cohort began their training under the shadow of Lee's cultural influence but "we could never match his speed, strength or physique". Lee's appeal had not diminished for the next generation, said Mic Leung, 45, who trained at the same studio and, as a teenager, sought out Lee's movies on old videotapes. "When we talk about the 'god of martial arts', we could only be talking about Bruce Lee. There is no one else," he said. Smashing barriers Born in San Francisco in 1940, Lee was raised in Hong Kong and had an early brush with fame as a child actor, supported by his father, who was a famous Cantonese opera singer. At 18, he continued his studies in the United States and over the next decade taught martial arts and scored minor parts in Hollywood, before landing the role of Kato in the television series "The Green Hornet". But it was not until Lee returned to Hong Kong that he landed his first lead role in the martial arts film "The Big Boss", which made him a household name in Asia after its 1971 release. The next year saw two more box office hits -- "Fist of Fury" and "The Way of the Dragon" -- cementing Lee's persona as a relentless, lightning-fast fighter. Lee had completed filming his fourth star vehicle, "Enter the Dragon", and was halfway through his fifth when he died on July 20, 1973 from swelling of the brain, attributed to an adverse reaction to painkillers. Film scholar Aaron Han Joon Magnan-Park, who taught Lee's movies at the University of Hong Kong, said Lee expressed a kind of Chinese identity that transcended national borders. "I would call Bruce Lee a paragon of Sinophone soft power success with Hong Kong characteristics," he told AFP. In Hollywood, Lee represented a rebuke to racist stereotypes, showing that Asian men were more than just servants and villains. The scenes where he bares his torso and flexes his muscles -- what Magnan-Park called the "kung fu striptease" -- were essential because they show how ripped bodies can belong to Asian heroes as well. "He made Asian men sexy, and that is something I don't think we talk about enough," he said. Preserving legacy Despite Lee's enduring fame, preserving his legacy in Hong Kong was no easy task, fan club chairman Wong told AFP. Government support was intermittent at best, he said. Fans in 2004 successfully petitioned to set up a bronze statue of Lee on Hong Kong's famed waterfront, but a campaign to revitalise his former mansion could not save it from demolition in 2019. At a government-run museum exhibit commemorating Lee's life, a woman surnamed Yip told AFP she wanted to share "a symbol of the old Hong Kong" with her two children. Wong, who had organised a smaller exhibit in Sham Shui Po district, acknowledged a decline of interest among young people but said Lee's philosophy always has the potential to become relevant again. He pointed to how protesters in Hong Kong's 2019 democracy movement cited the martial artist's mantra -- "Be water, my friend" -- as a reminder to adopt flexible tactics of resistance. That discussion has largely tapered off after authorities cracked down on dissent, but Wong remembers the public at the time wondering why young protesters were so taken by Lee. "As long as everyone still remembers (Lee), once your interest is piqued, you will have a chance to rediscover him," he said. The post Martial arts superstar Bruce Lee’s legacy endures 50 years on appeared first on Daily Tribune......»»
Remolona new BSP head
President Ferdinand Marcos Jr. has appointed Eli Remolona as the new Governor of the Bangko Sentral ng Pilipinas, Malacañang announced on Friday. The Palace made the announcement through the Presidential Communications Office as the six-year term of a BSP Governor, currently held by Governor Felipe Medalla, will end in July. Marcos made has made the decision to appoint a new Governor to succeed Governor Medalla after extensive consultations with the Department of Finance, various government offices, private banks, and financial institutions, PCO added. "As the newly appointed governor, Mr. Remolona is expected to leverage his extensive knowledge and experience to guide the BSP in promoting financial stability, implementing effective monetary policies, and fostering a robust banking sector," PCO said. "His appointment ushers in a new era for the central bank, with great anticipation and confidence in his ability to steer the Philippine economy toward sustained growth and stability," PCO added. Mr. Remolona's impressive career includes a notable tenure of 14 years at the Federal Reserve Bank of New York, followed by 19 years at the Bank for International Settlements. During his time at the BIS, he served as the regional head for Asia and the Pacific, where he closely collaborated with the governors of 12 leading central banks in the region. His work focused on crucial issues such as financial stability, capital market development, and asset management for Asia-Pacific central banks. A distinguished academic, Remolona also served as a Professor of Finance and Director of Central Banking at the Asia School of Business in Kuala Lumpur, in collaboration with the MIT Sloan School of Management from 2019 to 2022. He taught courses on monetary policy, money, and capital markets, and digital transformation, contributing to the education and development of future finance professionals. Remolona's expertise extends beyond academia, as he held various positions of high importance in the financial industry. Notably, he served as the Chief Representative for Asia and the Pacific at the BIS, where he led a team of 35 professionals, managed a significant budget, and oversaw policy-oriented research and financial services provided to central banks and governments in the region. Remolona has published over 5,500 citations in leading journals in economics and finance. His contributions to the field of finance are further highlighted by his role as an Associate Editor for Finance of the International Journal of Central Banking from 2005 to 2022. His journey in economics began in 1972 when he served as an economist at the Presidential Economic Staff and Development Management Staff, under Alejandro Melchor, then Executive Secretary of President Ferdinand E. Marcos. He also joined a high-level economic mission to the Philippines, advising President Ferdinand E. Marcos on structural reforms. Throughout his career, he has also worked as a consultant for esteemed institutions such as the Asian Development Bank, the International Monetary Fund, and the World Bank. Before his appointment as Governor of the BSP, Remolona served as a Member of the Monetary Board of the BSP since August 2022. The post Remolona new BSP head appeared first on Daily Tribune......»»
Japan’s emperor arrives in Indonesia for first state visit
Japan's Emperor Naruhito and Empress Masako arrived in the Indonesian capital Jakarta on Saturday for their first state visit since ascending the Chrysanthemum Throne in 2019. The 17-23 June trip to Southeast Asia's biggest economy includes a meeting with Indonesian President Joko Widodo at a palace south of Jakarta and a visit to a military cemetery honoring Indonesian and Japanese soldiers. Japan ruled Indonesia for more than three years during and after World War II, capturing it from the Dutch East Indies without a fight and breaking the image of Dutch superiority. The Japanese surrender at the end of the war paved the way for Indonesian independence in 1945 despite Dutch attempts to wrest back its former colony. "Since the war, Japan has worked hard to contribute to international peace and prosperity with Asian countries including Indonesia," Naruhito told reporters Thursday before the trip. "Based on the countries' history of diplomacy, I hope this visit will help deepen the friendly relationship between our nations." The royal couple will visit a military cemetery in south Jakarta where 28 former Japanese soldiers who stayed and fought for Jakarta in the Indonesian War of Independence between 1945 and 1949 are buried. They will also pay a visit to a new mass rapid transit train depot constructed in the capital with Japan's help and a Tokyo-funded pump station that prevents flooding. As well as traveling to the central Javan city of Yogyakarta to meet the provincial monarch, the emperor is scheduled to visit Borobudur, the world's largest Buddhist temple. The couple has gradually resumed public duties after limiting them during the Covid-19 pandemic. Last year, they made their first trip abroad since the enthronement to attend Queen Elizabeth II's funeral in London. Previous Japanese monarchs visited Indonesia in 1962 and 1991. The post Japan’s emperor arrives in Indonesia for first state visit appeared first on Daily Tribune......»»
2023 FIBA World Cup full support urged
In three months, the Philippines will be hosting the 2023 FIBA World Cup, the biggest and most prestigious basketball tournament in the world. The joint bid of the Philippines, Indonesia and Japan bested other European countries and won hosting rights, with a promise to deliver a “world-class” tournament. This marks the second time for the country to host the World Cup — the first was in 1978. According to FIBA Archive, the PH line-up included Ramon Cruz, Bernardo Carpio, Alexander Clarino, Steve Watson, Edward Merced, Federico Israel, Federico Lauchengco, Nathaniel Castillo, Gregorio Gozum, Leopoldo Herrera, Cesar Yabut and Cesar Teodoro. The team was coached by Nicanor Jorge. During the assembly meeting, FIBA Secretary General Andreas Zagklis highlighted the crucial role that the Philippines will play in hosting the World Cup. “We play this year our biggest event, the FIBA Basketball World Cup in 3 Asian countries — and this will be the first time in three countries combining together almost 500 million people. It will be an unprecedented event in terms of quality for the players and the fans,” he said. For this year, our very own Gilas Pilipinas is set to compete with 31 other teams. As the lead host, the Philippines will organize all the quarter-finals, semi-finals, and final games featuring the top 8 teams, while Japan and Indonesia will co-host the competition of eight teams each. Preparations are in full swing, according to Samahang Basketbol ng Pilipinas president Alfredo Panlilio, who also was recently elected as the Second Vice President in the FIBA Asia board for 2023-2027. Commenting on his election, Panlilio was quoted as saying: “It is an honor to be elected in the board of members of FIBA Asia to help the federation continue promoting the game of basketball and camaraderie in the region and the world,” acknowledging the huge responsibility to push for the development of new projects in Asia that would elevate the level of basketball competitions in the region. In recent years, FIBA has embraced a comprehensive approach to basketball development, encompassing various formats such as 5x5, 3x3, women’s tournaments, and youth competitions. This progressive strategy aims to nurture talent at all levels, providing opportunities for players of diverse backgrounds and promoting inclusivity within the sport. By embracing these multifaceted endeavors, FIBA is actively shaping the future of basketball, ensuring its continuous growth and global appeal. As a passionate basketball enthusiast, I am filled with immense excitement for this opportunity to host the prestigious FIBA World Cup. This historic event not only signifies our nation’s love for the sport but also holds the promise of remarkable growth and advancement in basketball programs under the visionary leadership of Panlilio and other esteemed members of the FIBA board. The future of basketball in our country looks brighter than ever before. Moreover, the Philippines stands poised not just to relish the rewards of the World Cup in the realm of sports, but to make an indelible mark on the country’s revenue generation through travel and tourism. The tournament’s influx of visitors from around the globe will serve as a significant catalyst, bolstering the local economy and showcasing the Philippines as a premier destination for international travelers. Case in point – a FIBA study showed that when the World Cup was hosted by Spain in 2019 before the emergence of Covid-19, it raked in $396 million or P22.6 billion in revenues while only setting an operational budget of $38.6 million or P2.2 billion. The upcoming international sports competition holds tremendous promise for uplifting the Philippines on multiple fronts – as a host, in the realm of basketball, and within the tourism industry, which has been significantly impacted by the pandemic. Regardless of our personal fanhood, I urge everyone to stand united in wholeheartedly supporting our team – Gilas Pilipinas. Our unwavering backing will serve as a powerful catalyst in boosting their confidence, enabling them to represent our country with pride and strive for victory. Together, we can make a resounding impact and proudly wave our flag on the global stage while bringing forward the kind of relationship we Filipinos have with the sport, profoundly anchored on one word – PUSO. The post 2023 FIBA World Cup full support urged appeared first on Daily Tribune......»»