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SBA out to change billiards landscape
Sharks Billiard Association (SBA), formerly known as Sharks, has announced the official launch of its inaugural season in 2024 to mark a historic moment in the world of billiards......»»
SRI Forum highlights ways for sustainable farming
A one-day forum on the System of Rice Intensification attended by several foreign SRI practitioners highlighted the importance of weaning farmers away from the destructive traditional planting, including the use of chemical fertilizers, pesticides, weedicides, and herbicides that harm not just the farmer but also the environment. Held at the Apacible Hall of the Department of Agriculture, the SRI Global Forum– the first one, held in the country– saw the participation of Nigeria, Iraq, India, Australia, and other ASEAN member countries with speakers explaining their difficult climb to scaling the SRI program in their respective countries. Agriculture Undersecretary Leocadio S. Sebastian for Rice Industry Development narrated that the SRI program in the Philippines often referred to as unidentified field observation several decades ago continues to be struggling because farmers stuck to conventional ways of planting with the use of chemical fertilizers. He said Congress has just granted the SRI program a budget of P250 million for 2024. The keynote was delivered by Prof. Norman Uphoff of Cornell University and lead convenor of SRI International. Dr. Khidir Hameed of Iraq, a country with a severe lack of water for farming explained how SRI worked in their fields despite less water. He said, that with El Nino, SRI becomes more urgent to ensure the country’s rice production even at a much-reduced water level would not suffer so it won’t import all of its rice requirements. SRI is now being scaled in most of the 50 countries that adopted it as a way of addressing rising production inputs costs, and water insufficiency (because of past and coming El Nino) and to help stop soil degradation from years of chemical fertilizer application. Since agriculture contributes to climate change, it is also the sector most vulnerable to climate change impacts. Part of the critical adaptation to climate change is the capacitation of farmers on resiliency strategies. Through the Climate-resiliency Field School, farmers’ education and technology sharing and experiential practice of technologies are propagated, particularly in water-deficient and rainfed areas. CrFS is flexible and experimental and promotes learning across sustainability principles, economically rewarding, low-carbon agriculture, and climate-informed farming practices. The learning farm included a study on adapting local varieties through participatory varietal selection, a comparison of organic farming and farmers’ practices in the area, and the SRI farming methods. The SRI way calls for direct seeding and, depending on the farmers’ beliefs, organic farming or when feasible, a mix of application of organic and chemical fertilizers. However, the SRI practitioners present at the forum were staunch advocates of purely organic farming. Observations raised by the forum delegates were: The utilization of SRI is expanding in various Asian and other countries but it is still a work in progress. SRI provides an opportunity for farmers to learn continuously about a more efficient and effective system of rice production. Successful utilization of SRI for other crops has been documented in several countries as shared by several country representatives. There should be more promotion of SRI through the provision of government and institutional support as well as regional cooperation (for example sharing of best practices) to expand its application. The evaluation and updating of SRI principles is a continuous process. There are a variety of adaptations of SRI. It should be noted that what is important is the use of the SRI principle rather than the technology itself. The ultimate goal is the attainment of a productive, sustainable, and environment-friendly production practice that recognizes the importance of proper ecological management. The forum, according to Sebastian is in line with President Ferdinand Marcos Jr.'s marching order for the Department of Agriculture to enhance the production of rice for the country's food security and rice sufficiency. The post SRI Forum highlights ways for sustainable farming appeared first on Daily Tribune......»»
Aboitiz Group bags triple Golden Arrow Awards
With a distinguished legacy spanning five generations, the Aboitiz Group remains steadfast in its commitment to fostering positive change in shaping the future as it adheres to the standards and requirements outlined in the ASEAN Corporate Governance Scorecard. This year, following the 2022 compliance period of the ACGS, Aboitiz Equity Ventures Inc. received a 4-arrow recognition after scoring 111.68 points, AEV’s highest ACGS score since the Institute of Corporate Directors inaugurated the Golden Arrow Awards in 2018. Aboitiz Power Corporation and Union Bank of the Philippines both received a 3-arrow recognition for scoring between 100 and 109 points. Consistent top performers It’s also important to note that AEV and AboitizPower have consistently been recognized as top performers in corporate governance, both here in the country and in the ASEAN region since 2013-2017 at the PSE Bell Awards. “This distinction is the result of the Aboitiz Group’s work to transform a legacy business into a hyper-innovative, diversified conglomerate that puts corporate governance and citizenship at the core of its operations. We have always believed that transparency and accountability are essential in building trust amongst our stakeholders and forging strong partnerships in order to drive change,” said Ginggay Hontiveros-Malvar, Aboitiz Group’s chief reputation and sustainability officer. AEV, the portfolio management company of the Aboitiz Group, leads investments in diverse sectors including power, banking and financial services, food, infrastructure, land, and cutting-edge fields such as data science and artificial intelligence. The Group is presently undergoing a profound transformation to establish itself as the Philippines' first "techglomerate." This innovative growth strategy, fueled by technology and a renewed entrepreneurial mindset, empowers Aboitiz to drive transformative change, shaping the future of its businesses, host communities, and the nation. The Golden Arrow Recognition serves as a testament to Aboitiz Group's unwavering commitment to upholding the highest standards of corporate governance. Aboitiz has excelled in several key areas such as compliance, sustainability, and innovation — positioning it as a frontrunner in the realm of corporate governance. This honor reflects the Group's ongoing commitment to creating value for its shareholders, stakeholders, and the broader Filipino community. Robust policies Aboitiz Group’s robust policies and procedures across every level of the organization form the bedrock of its commitment to excellence in corporate governance. Furthermore, the company's board of directors is characterized by its independence and diversity, playing a pivotal role in providing oversight and making strategic decisions aligned with the best interests of shareholders and stakeholders. Aboitiz places great emphasis on transparency, providing clear and comprehensive information regarding its financial performance, operations, and decision-making processes to ensure that shareholders and the public remain well-informed. In terms of regulatory compliance, Aboitiz is dedicated to adhering to all relevant laws, regulations, and standards related to corporate governance. The company continuously updates its policies to ensure alignment with evolving requirements. When it comes to ethical business practices, the Group's commitment to ethical conduct and integrity remains unwavering. “This award reaffirms the team’s adherence to the shared responsibility of sustainably managing the organization. This further motivates us to champion the highest corporate governance and ethical standards as we continue to grow the business,” said AboitizPower president and chief executive officer Emmanuel Rubio. “Likewise, we also exert as much effort and diligence in upholding environmental preservation and the societal good within the areas we have the privilege to serve,” he said. Corporate governance For his part, UnionBank lead independent director Roberto Manabat said, “We humbly accept this recognition as a reinforcement of the principles that guide the Bank. Our corporate governance practices reinforce the requirements of a constantly evolving business landscape. We ensure that they comply with new regulations and are ready to adopt best practices.” Aboitiz is deeply committed to sustainability and corporate social responsibility initiatives. The post Aboitiz Group bags triple Golden Arrow Awards appeared first on Daily Tribune......»»
Aboitiz Group bags triple Golden Arrow Awards
With a distinguished legacy spanning five generations, the Aboitiz Group remains steadfast in its commitment to fostering positive change in shaping the future as it adheres to the standards and requirements outlined in the ASEAN Corporate Governance Scorecard. This year, following the 2022 compliance period of the ACGS, Aboitiz Equity Ventures, Inc. received a 4-arrow recognition after scoring 111.68 points, AEV’s highest ACGS score since the Institute of Corporate Directors inaugurated the Golden Arrow Awards in 2018. Aboitiz Power Corporation and Union Bank of the Philippines both received a 3-arrow recognition for scoring between 100 and 109 points. AEV and AboitizPower have consistently been recognized as top performers in corporate governance, both here in the country and in the ASEAN region since 2013-2017 at the PSE Bell Awards. “This distinction is the result of the Aboitiz Group’s work to transform a legacy business into a hyper-innovative, diversified conglomerate that puts corporate governance and citizenship at the core of its operations. We have always believed that transparency and accountability are essential in building trust amongst our stakeholders and forging strong partnerships in order to drive change,” said Ginggay Hontiveros-Malvar, Aboitiz Group’s chief reputation and sustainability officer. AEV, the portfolio management company of the Aboitiz Group, leads investments in diverse sectors including power, banking and financial services, food, infrastructure, land and cutting-edge fields such as data science and artificial intelligence. The Group is presently undergoing a profound transformation to establish itself as the Philippines' first "techglomerate." This innovative growth strategy, fueled by technology and a renewed entrepreneurial mindset, empowers Aboitiz to drive transformative change, shaping the future of its businesses, host communities and the nation. The Golden Arrow Recognition serves as a testament to Aboitiz Group's unwavering commitment to upholding the highest standards of corporate governance. Aboitiz has excelled in several key areas such as compliance, sustainability, and innovation – positioning it as a frontrunner in the realm of corporate governance. This honor reflects the Group's ongoing commitment to creating value for its shareholders, stakeholders, and the broader Filipino community. Aboitiz Group’s robust policies and procedures across every level of the organization form the bedrock of its commitment to excellence in corporate governance. Furthermore, the company's board of directors is characterized by its independence and diversity, playing a pivotal role in providing oversight and making strategic decisions aligned with the best interests of shareholders and stakeholders. Aboitiz places great emphasis on transparency, providing clear and comprehensive information regarding its financial performance, operations, and decision-making processes to ensure that shareholders and the public remain well-informed. In terms of regulatory compliance, Aboitiz is dedicated to adhering to all relevant laws, regulations, and standards related to corporate governance. The company continuously updates its policies to ensure alignment with evolving requirements. When it comes to ethical business practices, the Group's commitment to ethical conduct and integrity remains unwavering. The company adheres to a stringent code of conduct that guides the behavior of its employees, fostering an environment of trust and integrity. “This award reaffirms the team’s adherence to the shared responsibility of sustainably managing the organization. This further motivates us to champion the highest corporate governance and ethical standards as we continue to grow the business,” said AboitizPower president and chief executive officer Emmanuel Rubio. “Likewise, we also exert as much effort and diligence in upholding environmental preservation and the societal good within the areas we have the privilege to serve.” “We humbly accept this recognition as a reinforcement of the principles that guide the Bank. Our corporate governance practices reinforce the requirements of a constantly evolving business landscape. We ensure that they comply with new regulations and are ready to adopt best practices,” said UnionBank lead independent director Roberto Manabat. Aboitiz is deeply committed to sustainability and corporate social responsibility initiatives. The company actively pursues environmental and social responsibility, demonstrating its dedication to creating a positive impact on society and the environment. The post Aboitiz Group bags triple Golden Arrow Awards appeared first on Daily Tribune......»»
Climate change, deforestation imperil medicinal trees, plants
The Department of Environment and Natural Resources - Ecosystems Research and Development Bureau (DENR-ERDB), the principal research arm and thinktank of the DENR, led the conduct of the ASEAN Conference on Medicinal Forest Trees in Pampanga, citing the huge potential of medicinal trees for the health and wellness of Filipinos. Some 117 participants from the Philippines, Indonesia, India, Bangladesh, Nepal, and Pakistan took part in the three-day conference last week where experts underscored the need to implement active conservation efforts to protect and propagate medicinal plants amidst climate change and other threats, noting that the country has yet to maximize the economic value of medicinal plants. Maria Lourdes G. Ferrer, ERDB director, said forest species studies reveal interconnected relationships between nature and human health used by indigenous people worldwide for disease treatment. Ferrer said there is a need to gather and preserve indigenous knowledge on medicinal plants and medicinal forest trees given their benefits and potential for economic activity. "As we embark on this intellectual journey, let us remember that our discoveries have the potential to touch lives, alleviate suffering, and shape the course of healthcare and medicinal forest tree species conservation," Ferrer said. For his part, ERDB Assistant Director Conrado B. Marquez said habitat protection through active management of forests, and governance with the appropriate funding allocation are vital for medicinal forest trees to adapt and become resilient to climate change. Marquez said the ERDB is mandated to develop protocols on propagation and plantation development and management. "We are working now on a technology called tree fortification. We are trying to fortify trees in a manner that will make them more resilient to pests and to add to the viability and manageability of particular tree species," Marquez said. The objective of tree fortification is to protect threatened tree species and increase their population. The ERDB is also doing other vegetative propagation measures such as cloning to address the scarcity of species. Dr. Pastor Malabrigo Jr., professor at the University of the Philippines Los Baños, said that based on the database of medicinal species in the country 456 tree species have known medicinal value. "We have 3,500 tree species. It's safe to assume that we are underutilizing our plant resources. There are rare, threatened species, the public is not familiar with, which are not being used. We have to give attention to these," Malabrigo said. He encouraged the event poster presenters to publish their research on medicinal plants for people to recognize these and increase public awareness. The post Climate change, deforestation imperil medicinal trees, plants appeared first on Daily Tribune......»»
The vital role of ASEAN
The ASEAN-UN Comprehensive Partnership is more important than ever. We face tests as far as the eye can see — from the climate emergency to a global cost-of-living crisis, raging conflicts and growing poverty, hunger, and inequalities. All these challenges are aggravated by rising geopolitical tensions. There is a real risk of fragmentation — of a Great Fracture in world economic and financial systems, with diverging strategies on technology and artificial intelligence and conflicting security frameworks. I commend ASEAN for your vital role in building bridges of understanding all over the world. ASEAN has played an extremely important role as a center that convenes all those that, unfortunately, represent the most dramatic divisions in today’s world and these series of summits is a demonstration of that fundamental convening role of ASEAN. And we need it in a world that is increasingly multipolar and that requires strong multilateral institutions to go with it — based on equity, solidarity and universality. I am grateful for your steadfast support for multilateral solutions and your contribution of over 5,000 peacekeepers from ASEAN countries. ASEAN’s convening power, commitment to dialogue and experience in conflict prevention are crucial pillars of stability. Today, tensions remain high from the Korean Peninsula to the South China Sea. I am grateful to ASEAN member states for your pursuit of dialogue and peaceful dispute resolution, rooted in the respect for international law, including the UN Convention on the Law of the Sea. Since we gathered last year, the situation in Myanmar has further deteriorated. Brutal violence, worsening poverty and systematic repression are crushing hopes for a return to democracy. The conflict is exacerbating existing inequalities and vulnerabilities faced by women and girls, including sexual violence, forced marriage and human trafficking. More and more people are crossing borders in a desperate search for safety and protection and the situation is untenable. Over one million Rohingya remain in Bangladesh, in the world’s largest refugee camp. And, regrettably, the conditions for their safe, voluntary and dignified return are not yet in sight. Much more is needed. My call to the military authorities of Myanmar is clear: Free all detained leaders and political prisoners; open the door toward the full restoration of democratic rule. We must also end our assault against the planet. ASEAN ranks amongst the most biodiversity-rich regions — and is highly vulnerable to natural disasters. We can still limit the worst impacts and meet the goals of the Paris Agreement. ASEAN is uniquely positioned to be a leader of an energy transition that is global, sustainable, just, inclusive and equitable. I commend ASEAN member states that are pioneering Just Energy Transition Partnerships like Indonesia and Viet Nam. And I commend all who are accelerating the phaseout of coal and jumpstarting a fair and inclusive renewables revolution. But greater ambition is needed still — along with much greater support. Developed countries must finally deliver on their commitments to developing countries. Resources are also central to rescuing the Sustainable Development Goals. I have called for deep and structural changes to make global frameworks — including the Bretton Woods system — more representative of today’s economic and political realities and also more responsive. Such change will not happen overnight — and I have proposed concrete steps we can take now, including an SDG Stimulus of US$500 billion a year to the benefit of developing countries for them to be able to reach the Sustainable Goals. This and other action would catalyze SDG progress and help developing economies invest in key transitions across energy, food systems, digital, education, health, decent jobs and social protection. I count on ASEAN member states to help raise global ambition in the vital months ahead. And you can always count on my wholehearted support to shape a future of peace and prosperity for the people of Southeast Asia and the world. *** Excerpts from the UN Secretary-General’s remarks at the ASEAN-UN Summit, 7 September 2023. The post The vital role of ASEAN appeared first on Daily Tribune......»»
DENR spotlights medicinal forest tree research at ASEAN conference
The Department of Environment and Natural Resources - Ecosystems Research and Development Bureau on Sunday emphasized the importance of advancing research on medicinal plants and forest trees, underlining their crucial role in increasing awareness of their potential benefits and optimizing their use. This message was conveyed at the conclusion of the ASEAN Conference on Medicinal Forest Trees on 7 September in Pampanga, gathering 117 participants from across Southeast Asia. ERDB Director Maria Lourdes G. Ferrer urged all participants to continue championing research, innovation, and responsible management of the country’s natural resources, emphasizing the importance of collaboration and information sharing to bring about transformative change. “Through your rigorous research, innovative thinking, and unwavering commitment to responsible stewardship of our natural resources, we have unearthed possibilities that will undoubtedly expand beyond the limits of current knowledge,” Ferrer said. Ferrer noted that the conference discussions not only deepened understanding but also promoted collaboration for the advancement of medicinal non-timber forest species. Besides the inadequate research support, the conference acknowledged the shortage of published literature on medicinal forest trees. It also emphasized the substantial threats posed by forest degradation and habitat loss to vital medicinal forest tree species. Furthermore, there is a pressing need for more "ethnobotanical" and pharmacological research on medicinal plants and forest trees. The ERDB recommended integrating these issues into the DENR's Research, Development, and Extension (RDE) Agenda, while also continuing efforts to collect data on medicinal forest trees and conducting ongoing ethnobotanical and pharmacological research. To enhance science communication, there will be an improved information and education campaign on the medicinal value of forest trees, along with increased promotion of RDE on medicinal forest trees. The publication of research results will continue to raise awareness and encourage the use of these valuable resources. “Together, we can fully realize the medicinal potential of our forest trees, creating a brighter and healthier future,” Ferrer concluded. The post DENR spotlights medicinal forest tree research at ASEAN conference appeared first on Daily Tribune......»»
Connections through culture
The British Council announces the launch of the Connections Through Culture Grants for artists and cultural institutions, opening new opportunities for research, development and partnerships between the UK and the international community. Accepting applications until 23 October, the grant is open for cultural organizations in the Philippines and across the Asean. Up to £10,000 (P700,000) will be awarded for projects highlighting collaboration between the UK and the Philippines, designed to encourage new connections and partnerships across a broad spectrum of art forms. Aligned with British Council’s commitment in responding to global challenges through arts, CTC particularly prioritizes collaborative projects that tackle climate change as well as diversity and inclusion. CTC is accepting applications for collaborations between the UK and the Philippines, as well as the following East Asian countries: Australia, Japan, Indonesia, mainland China, Thailand, Myanmar, Malaysia and New Zealand. Organizations with projects at any stage of development are welcome to apply. Each application must comprise at least one UK applicant and one applicant from the Philippines with their project proposal timeline ending no later than 31 October 2024. Lotus Postrado, country director at the British Council in the Philippines: “The Connections Through Culture Grant program supports exciting new arts and culture projects that continue to build international links with the UK.” “These grants will support artists and organizations in sharing ideas, exploring new ways of working and reaching new audiences. In our 45 years in the Philippines, we have seen the exceptional talents of Filipinos and we look forward to supporting them through this grant. We are excited to watch their journey and we hope that their collaborations will inspire and engage our communities.” The grants are an extension of the British Council’s ongoing efforts to build connections, understanding, and trust between people in the UK and overseas through the arts and creative industries. The post Connections through culture appeared first on Daily Tribune......»»
Upskill Filipino workers
For the past years, labor has been the country’s biggest and most reliable export that brings in billions of dollars to the Philippine economy every year, according to the Bureau of Investment. As the world becomes more interconnected and interdependent, the Government Academe Industry Network pointed out the need to elevate Filipino talent and ensure that they maintain their competitive advantage on the global stage. Monette Iturralde-Hamlin, president of GAIN, led the call for a meaningful collaboration among the key players and stakeholders to empower the mobilization of Filipino talent during the recent 6th GAIN National Convention at the AIM Conference Center — which focused on the theme “Internalization of Workforce: Global Talent Mobility through International Standards.” “Things are changing so fast. We are making space for a more interconnected and interdependent world, and we need to make sure that Filipinos are prepared to get those jobs that they need to take care of their families and thrive,” she said in her opening remarks. Dr. Jose Cueto Jr., commissioner of the Professional Regulation Commission, explained how the Philippine Qualifications Framework is used to measure skills of Filipino professionals to determine their level of knowledge, skills, and their ability to apply them in the real world. The PQF, according to Cueto, is designed to support academic and worker mobility and to address mismatches on job skills. He also described how the Asean Qualifications Reference Framework can be used in comparison to the country’s own framework to determine how the skills of a Filipino professional measures up to professionals of other countries. However, Cueto admitted that, “Not many organizations in the government, academe, and industry have the mastery of the PQF/AQRF qualifications.” Meanwhile, a highly skilled workforce is one that adheres to international standards, said BOI governor Atty. Marjorie Ramos-Samaniego. “Trends are changing, and new industries developed will change the way we look at the workforce. Our goals and targets might change, but our objective will remain the same: to uplift the ideal that the Filipino workforce is the best in the world,” she added. Compliance with international standards is non-negotiable in industries such as banking and healthcare, said Roderick Danao, chairman of PwC Philippines. He highlighted that with the banking and financial industry hinging on consumer trust, standards ensure that financial transactions are conducted fairly and efficiently. The healthcare sector, meanwhile, is a “complex, dynamic sector driven by demographic changes, technological disruptions, and evolving healthcare needs,” according to Nora Terrado, CEO of Carelon Global Solutions. She noted that Filipinos have already set the standard for healthcare professionals abroad, citing the top performance of Filipino nurses in the US National Council Licensure Examination from 2022 to 2023. The post Upskill Filipino workers appeared first on Daily Tribune......»»
Economy humming under PBBM — AMRO
Despite the challenges of spiraling prices resulting to a 5.3 percent inflation in August from the 4.7 percent recorded in the previous month, economic experts maintained that the economy is on strong footing under the charge of President Ferdinand “Bongbong” Marcos Jr. Growth was supported by resilient domestic demand with a strong recovery in the labor market despite weaker external demand, according to the ASEAN+3 Macroeconomic Research Office, or AMRO. AMRO held its Annual Consultation Visit to the Philippines from 29 August to 8 September. According to the report, the economy maintained its robust momentum in the first half following a multi-decade high growth rate of 7.6 percent in 2022. It added that notwithstanding a widening current account deficit, the external position remains sound with sufficient international reserve buffer and low external debt. Despite some moderation in 2023, inflation remained high, at a level above the 2 percent to 4 percent target, driven by buoyant demand, the report indicated. Favorable outlook “Economic growth is projected to moderate to 5.9 percent in 2023 due to high base effects and weaker external demand, before edging up to 6.5 percent in 2024 as external demand recovers,” AMRO group head and principal economist Runchana Pongsaparn said. “Meanwhile, domestic demand is expected to remain robust supported by continued improvement in labor market conditions, lower inflation, robust overseas remittances, and higher government infrastructure spending.” Headline inflation is projected to moderate to 5.5 percent in 2023 from 5.8 percent in 2022, and slow further to 3.8 percent in 2024. Despite some moderation, inflationary pressure will likely remain elevated as reflected in the high level of core inflation, due to a positive output gap and the second-round effects induced by increases in the minimum wages and expectations of persistently high inflation. Favorable indicators Other positive factors cited in the report include: On the external front, a widening current account deficit was partly offset by net capital inflows; External debt remained low and international reserve buffer was adequate; The banking sector has improved profitability, ample liquidity, and sufficient capital buffer; and Fiscal position continues to improve in 2023, attributed to robust revenue collection and moderate spending. Scar effects linger AMRO, however, warned that the outlook is clouded by risk factors and challenges. In the short term, the economy could be adversely affected by high inflation, especially due to local supply shocks in the food sector, the report added. An economic slowdown in major trading partners and volatility in the global financial market, along with tighter financial conditions, also pose risks. The long-term growth potential is largely affected by the scarring effects of the pandemic, the pace of infrastructure development, geopolitical risks, and the economic losses from natural disasters, which are being exacerbated by climate change. The Bangko Sentral ng Pilipinas, or BSP, tightened monetary policy aggressively to address rising inflation. Policy interest rate was raised by a cumulative 425 basis points, or bps, between May 2022 and March 2023. The 2024 budget aims to continue to reduce the budget shortfall, guided by the medium-term fiscal framework. Complementary tacks Tightened monetary policy and contractionary fiscal stance is an appropriate policy mix amid a positive output gap and persistent inflationary pressure. The “all-of-government approach” against inflation is welcomed as it addresses the supply side problems. Macroprudential tools can be used actively to address potential financial stability issues. The report added in the medium to long term, budget policy should balance between restoring fiscal buffer and supporting sustainable growth and development. Based on the report, fiscal consolidation is supported by strong commitment and well-defined targets and measures, anchored by fiscal rules and discipline. On the financial system side, close coordination between regulators is crucial in identifying, monitoring and mitigating financial stability risks. Meanwhile, the authorities should continue to improve the liquidity management framework, develop the bond and repo markets, and continue to expand financial inclusion, to enhance the system’s resilience to shocks and promote market activities. To do list The report said a comprehensive strategy is warranted to bolster the medium- to long-term economic growth potential. Overcoming the scarring effects of the pandemic mandates a sustained focus on upgrading and upskilling the workforce to embrace a more technology-driven economy, it added. Implementation of policies and measures to attract investments, particularly foreign investments, and promote exports of both goods and services are the underpinnings of long-term economic development, the report added. Furthermore, the government can enhance the country’s competitiveness through infrastructure investment, digitalization, and developing a green economy. The post Economy humming under PBBM — AMRO appeared first on Daily Tribune......»»
ASEAN leaders agree on 5PC to address Myanmar crisis
JAKARTA, Indonesia – President Ferdinand Marcos Jr. on Thursday called for the complete implementation of the Five-Point Consensus (5PC) in Myanmar, a set of principles agreed upon by the Association of the Southeast Asian Nation leaders in April 2021 to address the political crisis in the country. Speaking at the 18th East Asia Summit (EAS) here, Marcos said that the Philippines believes that the key to any solution in Myanmar is the inclusive participation of all parties. He also reiterated the Philippines' support for the Special Envoy of ASEAN in pushing the Five-Point Consensus forward. "We maintain that endeavors by other parties to address the crisis should support and complement ASEAN's efforts, and should be done in consultation with the ASEAN Chair," Marcos said. The Five-Point Consensus calls for an immediate cessation of violence, constructive dialogue among all parties, an inclusive political process, the appointment of a Special Envoy of ASEAN, and the provision of humanitarian assistance. Marcos also called for the urgent realization of the Loss and Damage Fund (LDF) to help countries address the impacts of climate change. He said that countries with the smallest carbon footprints disproportionately bear the heaviest burden of climate change. "Climate financing, complemented by viable and effective technology transfer and country-specific capacity-building, is needed to expedite a just transition to a climate-resilient economy," Marcos said. He also sought the support of other EAS leaders for the development of the Philippines' strategic minerals supply and value chains. He said that this would boost the Philippines' efforts to ensure a resilient and sustainable future for the region. Marcos concluded his intervention by reaffirming the Philippines' commitment to an open and inclusive regional order where the rule of law and ASEAN Centrality remain the bedrock of an evolving regional architecture. The East Asia Summit is a regional forum held annually by leaders of, initially, 16 countries in the East Asian, Southeast Asian, South Asian, and Oceanian regions, based on the ASEAN Plus Six mechanism. Membership expanded to 18 countries including Russia and the United States at the Sixth EAS in 2011. The post ASEAN leaders agree on 5PC to address Myanmar crisis appeared first on Daily Tribune......»»
Phl, US & Japan leaders had ‘informal meeting’ at ASEAN
JAKARTA, Indonesia – The Ministry of Foreign Affairs of Japan said that the leaders of the Philippines, Japan, and the United States have decided to work together to resolve and improve the status quo in the South China Sea. In a statement from Japan's foreign ministry released on Thursday, the three foreign leaders had an "informal meeting" at the Association of Southeast Asian Nations (ASEAN) 2023 gala dinner on Wednesday night. For context, Philippine Ambassador to the United States Jose Manuel "Babe" Romualdez said on Tuesday that the United States, Japan, and the Philippines were supposed to have a trilateral meeting to discuss several areas of concern. But the White House said on Wednesday evening that Marcos and Harris had a separate bilateral meeting on the sidelines of the 43rd ASEAN Summits. "Prime Minister Kishida exchanged views with President Marcos and Vice President Harris on the current situation surrounding the South China Sea, and concurred with them to jointly tackle unilateral attempts to change the status quo by force," the Ministry of Foreign Affairs of Japan said. "Prime Minister Kishida, President Marcos and Vice President Harris confirmed that the three countries would continue to promote the further strengthening of coordination among Japan, the U.S., and the Philippines in various ways," it added. *Australia on SCS issue* Meanwhile, Marcos Jr. thanked Australia for supporting the stance of the Philippines in the South China Sea. “I welcome Australia’s active engagement in maritime-related issues and concerns in the region,” Marcos said during his intervention at the 3rd ASEAN-Australia Summit here. “And we, the Philippines, thank Australia for expressing concern on the latest actions directed against the Philippines in the South China Sea. We join Australia on the call for peace, stability, and respect for the 1982 Law of the Sea Convention (UNCLOS),” Marcos added. He also thanked Australia for supporting the Philippines’ hosting of the 12th ASEAN Maritime Forum and the 10th Expanded Maritime Forum held in Manila last December. Marcos expressed confidence that the bloc’s relations with Australia will deepen and further diversify to provide lasting positive gains for the present generation and beyond. The post Phl, US & Japan leaders had ‘informal meeting’ at ASEAN appeared first on Daily Tribune......»»
ASEAN summit ‘productive’, biz meetings net $22M investment pledges: Marcos
JAKARTA, Indonesia – President Ferdinand Marcos Jr. said that the 43rd Association of Southeast Asian Nations Summit demonstrated the commitment of countries in the region to regional cooperation and multilateralism. In his latest YouTube vlog on Thursday, Marcos said that the summit was a productive one, and that he was able to promote and highlight key interests of ASEAN. He said these interests include food and energy security, security, migrant workers protection, climate change, and digital transformation. "I was able to participate in 12-leaders level meetings, including with Australia, Canada, China, India, Japan, the Republic of Korea and the United States and the United Nations," Marcos said. "In these meetings, I promoted and highlighted key interests of ASEAN, such as food and energy, security, migrant workers protection, climate change and digital transformation --- issues that are of strategic importance to the Philippines," he added. Marcos also said that he had a productive meeting with the President of the World Bank Group, where they discussed ways to strengthen cooperation in areas such as climate change adaptation and mitigation, and sustainable development. On the sidelines of the summit, Marcos met with top executives of select Indonesian companies who are looking at the Philippines to expand their presence further. He said that these meetings resulted in $22 million in investment commitments in areas crucial for the Philippines' economic recovery efforts, such as agriculture and the digital economy. Marcos also witnessed the signing of the Philippine-Republic of Korea Free Trade Agreement (FTA), which he said would strengthen the Philippines' bilateral trade and investment relations with South Korea. "The FTA will generate jobs and contribute to the Philippine value proposition as an ideal regional hub for smart, sustainable investment," Marcos said. Marcos reiterated that the Philippines will chair the ASEAN in 2026 instead of 2027. He said that the Philippines stepped up to this role to ensure the continuity of its progress towards a people-oriented, people-centered, inclusive, and resilient ASEAN community. He also thanked and congratulated Indonesian President Joko Widodo for "his very able stewardship" as chair of ASEAN this year and for making ASEAN as important as it ever has been. "I also thank them for the very warm hospitality of the Philippine delegation, And I look forward to able leadership of Lao PDR when they host the ASEAN in 2025," he said. The post ASEAN summit ‘productive’, biz meetings net $22M investment pledges: Marcos appeared first on Daily Tribune......»»
Sun Life executives bag back-to-back wins
Two top executives of Sun Life Philippines, namely Sun Life Investment Management and Trust Corporation president Michael Gerard Enriquez and Sun Life general counsel Atty. Edgar Tordesillas, recently received acclaim for their work in their respective films. Enriquez was dubbed as among the Top 25 ASEAN Selectors, an honor given to the most influential product gatekeepers and investment professionals in the ASEAN region, by financial publishing and data group Citywire. The recognition program uses quantitative and qualitative criteria to recognize those who take the lead in investment and product conversations throughout the region and have made tangible improvements in their respective organizations' product selection, digital platform or personnel. “It is a great honor to be among the Top 25 ASEAN Selectors,” said Enriquez. “This award is a testament to our commitment to providing clients with the best investing experience possible. I am proud of the accomplishments we have achieved through steady and confident strides." [caption id="attachment_180613" align="aligncenter" width="511"] Sun Life general counsel Atty. Edgar Tordesillas[/caption] Meanwhile, Tordesillas joins the roster of the vaunted members of the Philippines’ first ever GC Powerlist, a recognition program for the country’s top in-house lawyers as evaluated by publisher The Legal 500. It recognizes in-house lawyers that have been instrumental in changing or forming opinions within their company or industry, developing brilliant technical solutions to complex issues, creating innovative structures to ensure that the in-house function is driving the business and providing a business working model worthy of emulation by other corporate counsel. “Integrity is non-negotiable for us at Sun Life. Along with my Legal Team, it is my privilege to help bring this to life as the company's General Counsel,” said Tordesillas. “This recognition will further inspire us to become instruments of change for our clients' brighter future." The post Sun Life executives bag back-to-back wins appeared first on Daily Tribune......»»
PBBM concerned over militarization of South China Sea, cites UNCLOS
JAKARTA, Indonesia - President Ferdinand Marcos Jr. called on the Association of Southeast Asian Nations (ASEAN) and its partners to harness their shared interests and rally them into taking joint action to address the complex challenges facing the world today. In his intervention at the 18th East Asia Summit (EAS) here on Thursday, Marcos said that the world is facing a number of serious challenges, including the intensification of geopolitical tensions, food and energy insecurity, and the acceleration of the climate crisis. "These challenges are interconnected and require a comprehensive and coordinated response," Marcos Jr. said. "We must not allow these challenges to divide us. Instead, we must come together and work together to find solutions," he added. Marcos Jr. stressed the importance of ASEAN Centrality and universal multilateralism in addressing these challenges. He said that ASEAN must continue to play a leading role in regional cooperation, and that all countries must work together to uphold the rules-based international order. On the issue of the South China Sea, Marcos Jr. reiterated the Philippines' commitment to the peaceful resolution of disputes. He called on all parties to exercise self-restraint and refrain from unilateral and assertive activities that would increase tensions in the region. Marcos Jr. also reiterated his concern over the militarization of the South China Sea and the illegal, unreported, and unregulated (IUU) fishing in the area. He also called anew for the early conclusion of an effective and substantive Code of Conduct in the South China Sea (COC) that is in accordance with international law. "The Philippines remains committed to defending our sovereignty, our sovereign rights, and the maritime jurisdiction in accordance with UNCLOS," Marcos Jr. said. In his intervention, Marcos Jr. also touched on other issues, such as the need to promote economic recovery, address climate change, and combat terrorism. He said that ASEAN and its partners must work together to build a more peaceful, prosperous, and sustainable future for the region and the world. The East Asia Summit is made up of 18 countries, including ten ASEAN Member States (Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Viet Nam) and Australia, China, India, Japan, New Zealand, the Republic of Korea, the Russian Federation, and the United States of America. The post PBBM concerned over militarization of South China Sea, cites UNCLOS appeared first on Daily Tribune......»»
CoC reveries
An aversion to table the West Philippine Sea conflict and speeding up the progress of the Code of Conduct, or CoC, between the Association of Southeast Asian Nations, or ASEAN, and China is very evident in the ongoing Summit in Indonesia. The maritime conflict is not even on the official agenda and will be tackled only through optional bilateral meetings on the sidelines of the yearly assembly, which is all under the wishes of China. ASEAN, thus, is pushing itself into irrelevance by acceding to the wishes of China and its cohorts in the regional bloc like Cambodia. Despite its existence as an Economic Community since its inception, with full integration envisioned in 2025, much of its aspirations, including being a cohesive body to advance the interests of its members, remain a pipe dream. The CoC would have been a stellar achievement, but it was described as a moving goal post for more than two decades. In the ongoing ASEAN meeting, all that host Indonesia was able to commit to was a three-year deadline to finalize a CoC. Another set of guidelines is, thus, expected after the Jakarta assembly instead of a pact that will bind all the claimants in the maritime conflict. The guidelines, moreover, will have to be endorsed by regional leaders during the ASEAN-China Summit that is scheduled later. The Philippines is not confident about a substantial progress in the CoC despite its being the most urgent matter to maintain stability in the region. An official of the Department of Foreign Affairs said the outcome of talks on the long-delayed CoC will be limited “to mere reporting of past discussions.” “At most, there will be a report on what happened during the last meeting in the Philippines of the joint working group on the CoC,” which hardly equates to progress. During the third round of CoC talks in Manila from 22 to 24 August, discussions were stuck on the contentious issues of whether or not the CoC would be “legally binding.” China has historically resisted a legally binding CoC, the reason for the existence of the non-binding 2002 Declaration on the Conduct of Parties in the South China Sea, or DoC. In 2019, Foreign Minister Wang Yi indicated his optimism that a CoC would be completed within three years, or by 2022. It is now 2023. He also announced that China supported a CoC that had “binding force” and was “an upgraded and strengthened version” of the DoC. The discussions then came to a head due to the different perspectives among those at the negotiating table, which are the same obstacles blocking the resolution of the maritime rift. China has refused to recognize the Permanent Court of Arbitration award that the Philippines and other claimant countries use as a basis for their position in the DoC negotiations. In not recognizing the arbitral ruling and insisting on its historical basis for the territorial claims, China and ASEAN are not on the same page in the negotiations, meaning that hopes for an agreement are futile. Like what happened in the local context when the Communist Party of the Philippines sued for negotiations with the government and used it to consolidate its forces, China uses the CoC discussions as a delaying tactic to fortify its position. Its recent release of the 10-dash line, which was a rewriting of its territorial boundaries again based on historical data, proves China is not about to change its position. According to reports on the Summit, China will only support a legally binding code when its historical version prevails. Another term that China wants included in the negotiations is barring countries outside the region from interfering. It also wants economic activities at sea, including oil and gas development, “to be conducted in cooperation with companies from countries outside the region.” China also wants the CoC signatories not to “hold joint military exercises with countries from outside the region, unless the parties concerned are notified beforehand and express no objection.” The untenable conditions appear designed to prevent the CoC from ever coming into being. The post CoC reveries appeared first on Daily Tribune......»»
ASEAN common rice stock urged
The Philippine Chamber of Commerce and Industry, or PCCI, proposed that members of the Association of Southeast Asian Nations or ASEAN should establish rules for a regional rice buffer to prevent food insecurity amid the effects of climate change. “This will help the ASEAN members strengthen relationships as we face climate change which is reducing rice production of its most vulnerable members. This amplifies the spirit of unity and cooperation in the ASEAN,” PCCI President George Barcelon told the Daily Tribune in a phone interview on Wednesday. His statements came after the opening of the 43rd ASEAN Summit in Jakarta, Indonesia on Tuesday. The United Nations’ Food and Agriculture Organization said the rice yield per hectare for the past 30 years was decreasing in six out of 10 ASEAN states: Philippines, Cambodia, Myanmar, Indonesia and the region’s top rice exporters Thailand and Vietnam. Declining yield Thailand saw a lower rice yield from 12 metric tons per hectare to 10 metric tons, while Vietnam posted a rice yield from nearly 8 metric tons per hectare to 7 metric tons. The Philippines and Cambodia recorded less than 4 metric tons per hectare each year. “While we have regional trade agreements, these cannot fully prepare the ASEAN against the food impact of heavy rains and extreme drought caused by climate change. We’ve seen this happening already,” Barcelon said. The United Nations forecasted rice consumption in Southeast Asia can expand by 30 percent over the next two decades. Without effective climate change mitigation measures, the World Bank said the Philippines can see 35 percent more agricultural and infrastructure damage from stronger typhoons, while 20 percent more from drought. The post ASEAN common rice stock urged appeared first on Daily Tribune......»»
PBBM urges ASEAN to call on developed nations towards climate change action
JAKARTA, Indonesia – President Ferdinand Marcos Jr. has called on developed countries to heighten the implementation of their commitments to climate change at the upcoming 2023 United Nations Climate Change Conference (COP28) in the United Arab Emirates. During the intervention at the 43rd ASEAN Summit Plenary on Tuesday, Marcos said that climate change is the most urgent threat to the region's progress as the Philippines is one of the most disaster-prone countries in the world. He added the impacts of climate change are already being felt in the form of more frequent and intense storms, floods, and droughts. "At COP28, ASEAN must call on developed countries to heighten the implementation of their commitments," Marcos said. "These commitments include climate finance, technology development and transfer, and capacity building. We need these resources to prevent, mitigate, manage, and adapt to the impacts of climate change," he added. Marcos also said that the Philippines will continue to prioritize international cooperation that will make ASEAN climate-smart and disaster-ready. He said that the country will work with its neighbors to harness the transformative potential of the agricultural sector to ensure food security for future generations. "The continued effectiveness of our Community-building efforts rests on a clear assessment of our strengths," Marcos said. "The Philippines will continue to champion for change that will strengthen our institutions, improve our decision-making, and uphold ASEAN Centrality." COP28 is scheduled to take place in Dubai, United Arab Emirates, from 30 November to 12 December 2023. In light of the Philippines' vulnerability to disasters, Marcos emphasized the country's commitment to fostering global collaboration. He stressed the importance of initiatives that enhance ASEAN's resilience to climate change and disasters, with a particular focus on the ASEAN Centre for Biodiversity. The post PBBM urges ASEAN to call on developed nations towards climate change action appeared first on Daily Tribune......»»
PBBM reiterates commitment to ASEAN integrated economy
JAKARTA, Indonesia – President Ferdinand Marcos Jr. on Tuesday underscored the strength of the Association of Southeast Asian Nations (ASEAN) as a regional organization and its commitment to regional integration. In his intervention at the 43rd ASEAN Summit and related summits here, Marcos Jr. said that ASEAN is poised to improve its macroeconomic fundamentals in the face of a prolonged geopolitical and socio-economic challenge. "With a projected growth rate of 4.9 percent next year and a steady rise in intra-ASEAN trade and foreign direct investment inflows, ASEAN is well-positioned to weather the storm," he said. Marcos Jr. also reiterated the Philippines' commitment to maintaining ASEAN as a competitive and integrated regional economy. He told the leaders that his administration's integration efforts include facilitating a rules-based multilateral trading system that is "open, free, and fair." Marcos Jr. also called for more concerted efforts to address the impact of climate change, which he said is the most urgent threat to ASEAN's progress. "At the upcoming UN Framework Convention on Climate Change (COP28), ASEAN must call on developed countries to heighten the implementation of their commitments," he said. "Their commitments that include climate finance, technology development and transfer, and capacity building, in order to drive ASEAN's capabilities to prevent, mitigate, manage, and adapt to the impacts of climate change," he added. The 2023 United Nations Climate Change Conference or Conference of the Parties of the UNFCCC, more commonly referred to as COP28, will be the 28th United Nations Climate Change conference from November 30 until December 12, 2023, at the Expo City, Dubai. Marcos Jr. also announced that the Philippines is ready to take the helm and chair ASEAN in 2026. "We will fortify the foundations of our Community-building and navigate ASEAN as it embarks on a new chapter," he said. "We will count on the support of fellow Member States and continue to work with our partners to strengthen ASEAN Centrality, and to promote peace, security, stability, and prosperity in the region," he added. During the 43rd ASEAN Summit opening remarks earlier, Indonesian President Joko Widodo said that the regional bloc must work harder, become more solid, bolder, and more agile in order to achieve its goal of becoming an "epicentrum of growth." He also called for the development of a long-term technical plan that is relevant and in line with the hopes of the people, not only for the next five years but for the next 20 years until 2045. Widodo also stressed the importance of ASEAN centrality, saying that the bloc must be the "primary driving force" in shaping the region's external relations. He said that ASEAN must work with other partners in the Indo-Pacific region to promote peace, stability, and prosperity. "ASEAN is a large ship, and we have a major responsibility towards the hundreds of millions of people who are sailing together on it," Widodo said. "Despite having to sail through a storm, we as ASEAN leaders must ensure that this ship can continue to sail." In addition to the ASEAN leaders, the summit will also be attended by representatives from dialogue partners, including the United States, China, Japan, India, and Australia. The post PBBM reiterates commitment to ASEAN integrated economy appeared first on Daily Tribune......»»
Gov’t seeks Indon capital
Finance Secretary Benjamin Diokno presented to Indonesia’s business community the Philippine economic plans for securing investments in infrastructure, energy and technology. In a statement by the Department of Finance on Thursday, it said Diokno conducted the talk in Jakarta City on Wednesday ahead of the 10th ASEAN Finance Ministers and Central Bank Governors’ Meeting from 24 to 25 August. The listeners included members of the Indonesian Chamber of Commerce and Industry and the Philippine Business Club Indonesia, and officials of foreign embassies in Jakarta. Diokno said the Philippine lawmakers are now studying all measures for faster public-private partnerships or PPPs as the Marcos administration aims to build 197 infrastructure flagship projects, including railways, airports and water management, among others. PPP crucial “The PPP Act, which is currently pending in the Senate, consolidates all legal frameworks on PPP and creates a unified system for investors to refer to when engaging in PPP projects,” DoF said. To build more capital for Philippine infrastructure development and diversify investment channels, Diokno said government agencies are now crafting the rules and regulations of the Maharlika Investment Fund. “This is the Philippines’ first sovereign investment fund that will serve as a platform for investors to engage in direct equity investments in Philippine ventures,” he said. Diokno said both the legislative proposal and newly approved sovereign fund will support economic expansion from liberalized investment laws passed by the previous Duterte administration. Diokno shared amendments to the Public Service Act which now allows full foreign ownership from 40 percent previously of various businesses, such as airlines and telecommunications. Amid growing concerns with climate change, the finance chief said this applies also to renewable energy facilities, such as solar plants. Indonesia, along with China and India, is among the world’s largest exporter of coal, according to the International Energy Agency. However, Indonesia vowed to achieve net-zero carbon emissions by 2060, while it is 2050 for the Philippines. To ensure efficient management and profitability of infrastructure, Diokno said the government also eased processes for foreign investors under the Build-Operate-Transfer Law. “To help foster the development of high quality, modern, and sustainable infrastructure in the country, we wasted no time in building a fertile business and investment ecosystem for private players,” Diokno said. The post Gov’t seeks Indon capital appeared first on Daily Tribune......»»