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Maynilad pouring in P2.7 billion for water loss reduction plan
Maynilad Water Services Inc. will spend P2.7 billion until 2027 to reduce water losses by replacing its aging pipe network and stifling the rampant illegal connecti.....»»
Uncertainty looms over Davao-Samal Bridge project amid RoW hurdles
The construction of the Samal Island-Davao City Connector (SIDC), also known as the Davao-Samal Bridge project, has faced numerous setbacks due to right-of-way (ROW) acquisition challenges. The project was halted on January 3, 2024, due to issues with landowners near a pier in Lanang at Davao City, leading to delays in the project's implementation. While there have been conflicting statements regarding the project's status, the National Economic and Development Authority-Davao Region (Neda-Davao) aims to complete the detailed engineering plans for the substructure of the west land via dock once the Deed of Transfer Possession in Davao City is released. However, ROW issues continue to persist. Despite these challenges, the project is still considered a priority and is included in the Davao Region Development Plan (DRDP) for 2023–2028. The project is funded through China’s Official Development Assistance with an estimated budget of P23.04 billion, and negotiations with the Philippine government are ongoing with a target completion date in 2027. The uncertainty surrounding the project's timeline remains as ROW hurdles persist, impacting the much-anticipated toll-free four-lane concrete exodus bridge spanning a 3.98-kilometer distance......»»
SPNEC to finish P200 billion solar project by 2027
SP New Energy Corp. is eyeing to fully complete the world’s largest solar project by 2027......»»
Chip maker Intel beats earnings expectations as it pursues rivals
US chip giant Intel on Thursday said it made more money than expected in the recently ended quarter as it continued to invest in a "geographically balanced" supply chain. Intel shares jumped more than 7 percent to $34.88 in after-market trades. "We delivered a standout third quarter, underscored by across-the-board progress on our process and product roadmaps; agreements with new foundry customers, and momentum as we bring AI everywhere," said Intel chief executive Pat Gelsinger. Intel reported revenue of $14.2 billion, which was 8 percent less than the amount seen in the same quarter a year earlier but ahead of forecasts. Net income tallied $300 million, compared with $1 billion profit in the same period in 2022, earnings figures showed. "Our results exceeded expectations," said Intel chief financial officer David Zinsner, who said earnings benefited from "expense discipline." Intel has been working to catch up with rivals, especially Nvidia, when it comes to powerful chips needed to handle the computing demands of artificial intelligence. Intel touted investments being made in chip production facilities with an aim of creating a "geographically balanced, secure, resilient supply chain." California-based Intel is seen as a key tool for the United States to reduce its dependence on major global producers, such as Taiwan's TSMC. Earlier this year, Intel announced it would spend $25 billion on a new plant in Israel, with Prime Minister Benjamin Netanyahu calling it the country's single largest foreign investment. The "agreement in principle" would see the semiconductor firm build the facility in the southern city of Kiryat Gat that would open by 2027 and operate at least until 2035, Israel's finance ministry said. Intel has been operating in Israel since the 1970s with development centers and a production site that employs some 12,000 people, the finance ministry said. In 2017, Intel acquired Israel-based Mobileye, which makes technology for automated driving systems in vehicles, for just over $15 billion. Gelsinger said Intel teams have kept operations going despite the war between Israel and Hamas. "Our utmost priority is the safety and welfare of our people in Israel and their families," Gelsinger said. "Despite all of these challenges, they're performing extremely well. I am praying for a swift return to peace." China Gelsinger said Intel was carefully studying updated rules in the United States that tighten curbs on exports of state-of-the-art AI chips to China. "We do believe that we'll have plenty of opportunity in China," Gelsinger said. "We are continuing to deploy our products there broadly, even as we comply and work with (the United States) around the regulations that they're putting in place." The new rules tighten measures from a year ago that banned the sale to China of microchips crucial to manufacturing powerful AI systems. Calls to further close the supply chain grew after the popularity of generative AI platform ChatGPT. When announcing the beefed-up curbs, US Commerce Secretary Gina Raimondo insisted they were intended to close loopholes and prevent China's development of AI for military use. "It's true that AI has the potential for huge societal benefit. But it also can do tremendous and profound harm if it's in the wrong hands and in the wrong militaries," she told US media. The rules will not affect chips used in consumer goods such as laptops, smartphones, and gaming consoles, though some will be subject to export licensing requirements. China has said it is "strongly dissatisfied" and "firmly opposes" the curbs. "The US continues to generalize the concept of national security, abuse export control measures, and implement unilateral bullying," the commerce ministry said in a statement. The post Chip maker Intel beats earnings expectations as it pursues rivals appeared first on Daily Tribune......»»
EU, Phl eyes creating digital gateway pack
The European Union or EU and the Philippines are crafting a digital development program, set for launch next year to help the boost Internet speed and reach, strengthen cybersecurity, and integrate more women into the digital economy. On Thursday, the Department of Finance said the two partners, along with other countries, are creating the Digital Connectivity Global Gateway Package. “The package has key elements on capacity building, regulatory or policy support, cybersecurity, and enhanced cable connectivity,” a DoF statement said. “The package, which is being considered for launch next year, will also help address the digital gender gap in the country by empowering women in the digital economy,” the DoF added. Connectivity partnership This global partnership on digital connectivity was recently sealed during the first Global Gateway Forum hosted by European Commission President Ursula von der Leyen from 25 to 25 October in Brussels, Belgium. There were 40 government leaders who attended the forum, with Finance Secretary Benjamin Diokno representing the Philippines. Global Gateway is the EU’s largest global investment program, with funding of up to 300 billion euros to be used by partner countries from 2021 to 2027 to improve their digital, energy, and transportation infrastructure, along with health and education systems. During the forum, the EU and the Philippines signed a 60 million euros financing agreement to help the latter realize projects for climate change mitigation and digital transformation. Under its digital program, the European Commission already committed in 2021 to provide all highly populated areas of the EU’s 27 member-states with faster Internet through 5G by 2030. Less than one-third of these areas benefited from that Internet technology two years ago. Expanding use of AI The commission also aims to expand the population of the EU’s small businesses using artificial intelligence and cloud from less than half to 75 percent, and those with basic technology skills from 75 percent to 100 percent over a decade. The Department of Information and Communications Technology, or DICT, on the other hand, is developing 500 to 1,000 digitalization programs. Information and Communications Technology Secretary Mon Gutierrez said the government is doubling its efforts to realize over 10 percent of its total number of digitalization programs through public-private partnerships. Also conducted by the DICT are digital literacy campaigns for government agencies, private firms and the public to spur technological innovations and better digital policies. The post EU, Phl eyes creating digital gateway pack appeared first on Daily Tribune......»»
Food stamp program to be implemented nationwide July next year — DSWD
From the pilot implementation of the food stamp program, targeting an initial 3,000 families this year, it will be scaled up to 300,000 households by July 2024, just in time for President Ferdinand Marcos Jr.'s Executive Order No. 44 aiming for the “Walang Gutom 2027: Food Stamp Program” to be implemented in full swing. Department of Social Welfare and Development Undersecretary for Innovations Eduardo Punay disclosed this at yesterday:s Saturday News Forum in Quezon City. Punay said the Department is finishing the pilot implementation of the program in five pilot sites –Tondo, Manila; Dapa, Siargao; San Mariano in Isabela; Garchitorena in Camarines Sur; and Parang, Maguindano that will run until mid-next year. It includes 3,000 families identified by the pilot implementer, the World Food Program funded with a $3 million grant from the Asian Development Bank. "Now, come next year, we’ll have the full run, the full implementation of the program which targets one million households po talaga iyan nationwide – our food-poor families nationwide. And next year when we scale-up, there will be 300,000 beneficiaries (number), household. And parte po nitong declaration ni President, EO44, ng kaniyang order is iyong provision ng budget po. Kasama po iyan kaya na-institutionalize, may budget na po—magkakaroon po tayo ng budget sa GAA, sa national budget ng ating pamahalaan," Punay explained referring to the P6 billion budgetary requirement for the program which the Department of Budget and Management has already committed. Punay said they will prioritize 30 to 40 provinces identified by the National Nutrition Council with the highest incidence of malnutrition and hunger. Under the program, the DSWD will provide electronic benefit transfer (EBT) cards that will be loaded with food credits amounting to P3,000 per month to purchase a select list of food commodities from DSWD-registered or -accredited retailers. The food credits shall be allocated to carbohydrate-rich foods such as rice at P1,500, 30 percent for proteins like meat at P900, and 20 percent for fruits, vegetables, oil, salt, as well as condiments at P600. The food stamp Program will run until 2027 and will require a total estimated budget of P40 billion as it targets one million food-poor families or those earning less than P8,000 in a month. Punay said they will gradually increase the number of beneficiaries from 300,000 in the first year, to another 300,000 in the second year, and 400,000 in the third for a total of one million food-poor household beneficiaries. The post Food stamp program to be implemented nationwide July next year — DSWD appeared first on Daily Tribune......»»
Maynilad activates P1-B reservoir expansion
West Zone concessionaire Maynilad Water Services Inc. has mobilized P1.07 billion to augment the storage capacity of its main reservoir in Quezon City to address water supply constraints. Maynilad has 39 reservoirs across its franchise area, but the Bagbag Reservoir, which can store up to 200 million liters of treated water produced by its La Mesa Treatment Plants 1 and 2, serves as its primary reservoir. It serves around four million customers in Quezon City, Caloocan, Malabon, Navotas, Manila, Makati, Pasay, and parts of Parañaque and Cavite — representing approximately 58 percent of Maynilad’s total customer base. Maynilad said over the weekend that the expansion of Bagbag Reservoir involves the construction of a new chamber in this underground reservoir, which will add another 100 million liters to its storage capacity. Likewise, the water company said other enhancement works on the facility, including a 1,800mm-diameter inlet and outlet pipeline installation, new tank construction, and pump upgrade to improve its operating capacity. “Water demand has been increasing over the years due to population growth in urban areas. By increasing our water-storage capacity, we can address water availability issues, especially during hours of peak demand when consumption can sometimes exceed our water reserves,” said Maynilad President and CEO Ramoncito Fernandez. Based on the latest timeline provided by the company, the project is scheduled to be completed by 2027. Maynilad is the concessionaire of the Metropolitan Waterworks and Sewerage System for the West Zone of the Greater Manila Area composed of certain areas in the cities of Manila, Quezon City, Makati, Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon. It also operates in the cities of Cavite, Bacoor, and Imus, and the towns of Kawit, Noveleta, and Rosario. The post Maynilad activates P1-B reservoir expansion appeared first on Daily Tribune......»»
More consumers integrate solar energy into homes
More consumers are incorporating solar energy into their homes as the shift towards renewable energy accelerates, according to global trend forecasting firm WGSN. In a webinar, Angela Ringo, senior strategist at WGSN Interiors, said an analysis demonstrates solar’s growing popularity, whether in TikTok hashtags or in online searches. She said the interest in “solarpunk” — a genre of speculative sci-fi that focuses on renewable energy and living harmoniously with nature — is booming. Solar panels to overtake other energy sources Ringo cited data showing the photovoltaic solar panels are projected to overtake other energy sources by 2027, reaching a value of $251.4 billion by 2030. She said solar energy adoption changes homes, such as solar powered kitchens offering outdoor cooking and dining opportunities. “They will usher in an era of cleaner (solar-powered cooking) those in remote or rural areas in places impacted by war. The demand for solar cooking is likely to rise in a polycrisis era due to geopolitical conflicts,” she added. Solar cooking system Ringo said energy company IndianOil has developed a solar cooking system that it plans to scale for home and industrial use, while bakers in Lebanon are using solar powered ovens to reduce the cost of bread in response to the country’s ongoing economic crisis. She said solar powered lighting can reduce grid reliance for consumers, while also supporting those living outdoor, rural or nomadic lifestyles. Solar lamps protect homes from power cuts and load shedding which is common in South Africa, she added. The post More consumers integrate solar energy into homes appeared first on Daily Tribune......»»
High BoI figures show capital swing
As a testament to the strides taken to raise the country’s laggard investments, the country’s main investment promotion agency, the Board of Investments reported registering P720 billion worth of investments for the year until August. In a forum on Thursday, BoI Governor Marjorie Ramos-Samaniego said they now see positive investment growth for the rest of the year. “As of August of 2023, the BoI approvals amounted to 72 percent of the P1-trillion investment target for the year,” she added. Last Tuesday, BoI chairperson and Trade Secretary Alfredo Pascual said he is confident of hitting and even surpassing the 2023 investment approvals target of P1.5 trillion. He said the investment promotion agency has projects in the pipeline, some of which came from past foreign trips of President Ferdinand “Bongbong” Marcos Jr. and the investment missions of the Department of Trade and Industry. Last year, the BoI approved an estimated P729 billion worth of new projects, which is 11 percent higher than the P655.4 billion approved in 2021. On Thursday, the BoI announced that it granted green lane endorsement to five floating solar power projects in Laguna Lake under Executive Order 18 or “Constituting Green Lanes for Strategic Investments,” meant to expedite, streamline and automate government approval and registration process of priority and strategic investments. “In keeping with the government’s goal of accelerating the realization of green investments in the Philippines, the BOI has given the go-ahead to ACEN Corporation’s requests for Green Lane processing of several renewable energy ventures located in Laguna Lake,” Pascual explained. The approved projects include SolarAce4, AC Laguna, AC Subic, GigaWind1 and Ingrid Floating Solar Power Plants, which are consistent with the government’s mission to accelerate the growth of eco-friendly investments. In accordance with EO 18, the five renewable energy. or RE, projects are now identified and designated as strategic investments, which are expected to be completed between 2026 and 2027. Obtaining green lane status expedites permit and license issuance, including resolving strategic investment issues. Trade Undersecretary and BoI managing head Ceferino Rodolfo awarded the Green Lane Certificates of Endorsement to ACEN president and CEO Eric Francia in an awarding ceremony at the BoI Main Office in Makati City last 6 September 2023. BoI Governor Ramos-Samaniego and Executive Director Bobby Fondevilla of the Investment Assistance Center are present in the ceremony, and ACEN representatives namely Anabelle Natividad, authorized representative; Atty. Lucky Aranas, project lawyer; and Miguel Ignacio, project manager. SolarAce4 covers 100 hectares of the lake surface area in Santa Cruz, Laguna, and will produce a 140-megawatt peak of clean energy. AC Laguna Floating Solar Power Plant — AC Laguna is located on 200 hectares of lake surface area in Victoria and Pila, Laguna, and will generate 280MWp of clean energy. The AC SUBIC Floating Solar Power Plant, occupying 200 hectares of lake surface area in Victoria and Santa Cruz, Laguna, is expected to produce 280MWp of clean energy. GigaWind1 Floating Solar Power Plant covers 200 hectares of lake surface area in Kalayaan and Paete, Laguna and will generate 280MWp of sustainable energy. Finally, Ingrid Floating Solar Power Plant is located on 100 hectares of lake surface area in Lumban, Laguna and will produce 140MWp of clean energy. At the forefront of Asia Pacific’s renewables revolution, ACEN is the first energy company in Southeast Asia to announce a Net Zero roadmap. ACEN, established in 2011, is the renewable energy platform of the Ayala Group. Its portfolio continues to grow with new solar and wind farms under construction in the Philippines, Australia, Vietnam, Lao PDR and India. ACEN aims to be the largest listed renewables platform in Southeast Asia and is targeting to reach 20 GW of renewable capacity by 2030. Its key markets are the Philippines, Australia, Vietnam, Indonesia and India. The post High BoI figures show capital swing appeared first on Daily Tribune......»»
Pork’s different strokes
Efforts have begun in the House of Representatives to raise the Motor Vehicle Road Users Charge or the Road Users Tax after President Ferdinand “Bongbong” Marcos Jr. identified the levy as a main source of precious funds. The eagerness of the members of the House to comply with the proposal to hike the tax makes people wary. Proceeds from the tax are the favorite source of legislative pork. Albay Rep. Joey Salceda’s bill indicates the MVUC which ranges from P120 to P4,000 will be raised to between P2,080 and P10,400 for cars, depending on their gross weight. Under the proposal, the MVUC will be increased by a fixed rate yearly until 2025, and by 5 percent from 2026 onwards. Salceda is looking at collecting P151 billion more in revenue from 2024 to 2027 through the higher MVUC. The higher collections should be earmarked for road improvements which is under the Department of Public Works and Highways after President Rodrigo Duterte signed a law abolishing the graft-tainted Road Board. The disposition of the MVUC sparked the feud between House members and the Department of Budget and Management during the initial years of the Duterte term after then Budget Secretary Ben Diokno refused to release the MUVC proceeds until the Road Board was dissolved. Moreover, the late former President Benigno “Noynoy” Aquino III exploited the RUT funds using them as leverage to get House members to impeach former Ombudsman Merceditas Gutierrez and to obtain the legislators’ approval for his political agenda, such as a measure seeking to postpone the Autonomous Region of Muslim Mindanao election to allow Noynoy to place his appointees in the Muslim region. The Road Board had an unusual collection setup that practically freed its state audit, making it a perfect “cash cow” as termed by some senators. Gutierrez was impeached overwhelmingly in the House after Noynoy first dangled the pork barrel, saying through his House allies that those who would vote against the impeachment would not receive their pork barrel while those who signed the measure would get a P20-million bonus taken from the Road Board.Later, Gutierrez, knowing that she was in a losing situation, resigned from her post despite her having a guaranteed term. She was replaced by Noynoy’s favorite associate justice, Conchita Carpio-Morales, who carried out the yellow brand of selective justice. Gutierrez had displeased Noynoy when she dismissed the case against former President Gloria Macapagal-Arroyo in connection with the P729-million fertilizer fund scam. Former Chief Justice Renato Corona Jr. was also ousted through impeachment and the leverage used, in turn, were the DAP funds. It was ironic that Noynoy’s allies vowed to abolish the Road Board, which under the law that created it, had full discretion on its use. Its disposition was beyond the scope of the Commission on Audit since the RUT was not part of the budget. Former Sen. Franklin Drilon, for instance, said the body would be abolished by the Senate despite the House allies of former President Arroyo’s withdrawal and eventual rescinding of the bill that sought to terminate the anomalous 2001 creation. Congressmen turned the RUT proceeds into a source of fast money through collusion with Road Board officials. Since the DPWH is now the custodian of the funds, attention must also be directed at the agency in the proper disposition of the MUVC proceeds. Increasing the audit-free funds plus the recently discovered P215 billion in insertions in the budget through the generic flood mitigation projects exposed maneuvers to pilfer public funds. The post Pork’s different strokes appeared first on Daily Tribune......»»
Inventions, fresh techs for unveiling
The Department of Science and Technology, or DoST, will be introducing a range of new inventions, including clothing, sea transport and construction materials, in its National Science and Technology Week in November in Iloilo City. DoST Undersecretary Sancho Mabborang on Monday said the Philippine Textile Research Institute will present locally-made yarns and other fibers as part of the two major exhibits during the event which will run from 24 to 26 November. The textile institute told the Daily Tribune it aims to revive the textile industry to satisfy demand for clothes while protecting the environment. “Although garments are up, it is hugely dependent on imported yarns or fabrics,” Julius L. Leaño Jr., the institute’s director, said in June. 3.5% growth for clothing sector The clothing sales in the country can grow by 3.5 percent each year until 2027, while global sales of luxury clothes can reach $278 billion by 2031, more than double the $103 billion this year, according to global market researcher Statista. Mabborang added the other major exhibit will feature maritime vessels. “There will be a lot of inventions and activities,” he teased. Among them, he said, are engineered bamboos aimed at reducing the use of imported construction materials. “Stakeholders have said 80 percent of their wooden construction materials are imported,” Mabborang elaborated. He said another invention is a non-addictive adhesive developed by Mindanao’s Marawi State University in Iligan City. “It is an alternative to rugby which some poor Filipinos sniff like a drug,” Mabborang said. He added the science and technology week will be an opportunity for scientists and entrepreneurs to pitch their innovative solutions to government officials so they can obtain aid for product commercialization under DoST’s Smart and Sustainable Communities program. “This enables local government units to set up community laboratories where the products will be introduced and tested so we can determine their benefits to certain social problems,” Mabborang said. To spur innovations, he said the DoST plans to build planetariums and interactive science museums across the country to encourage the youth to build careers related to science, technology, engineering and math or STEM. The post Inventions, fresh techs for unveiling appeared first on Daily Tribune......»»
Biden widens web of US alliances faced with China, Russia, Trump
With a historic three-way summit with Japan and South Korea, President Joe Biden has further deepened the web of US partnerships in a determined signal to adversaries despite question marks on the political climate at home. Since Biden took office in 2021, NATO has expanded and mostly closed ranks over Russia's invasion of Ukraine -- and, in clear if unstated responses to an assertive China, the United States forged a new three-way defense pact with Australia and Britain and ramped up work through the four-way Quad involving Australia, India and Japan. The United States already has security alliances with Japan and South Korea, together the bases for some 84,500 troops, but will now also plan three-way, multi-year military exercises across all domains along with real-time information-sharing and a crisis hotline. Jon Alterman, a senior vice president at the Center for Strategic and International Studies, said that alliances were "baked" into the mindset of Biden, who was a senator at the end of the Cold War. Partnerships can increase other countries' faith in the direction of the United States, Alterman added. "This administration believes deeply in the centrality -- not the importance, the centrality -- of partnerships," he said. "The challenge is, all of our partners remember the previous administration, they look at the polling numbers, and they have absolutely no confidence in where the US is going to be in two years' time, five years' time or 10 years' time," he said. Previous president Donald Trump loudly questioned the value of alliances, insisting that countries such as Germany and South Korea were not paying enough for the US troop presence and scoffing at NATO's commitments of mutual defense to all allies. Trump is again seeking the White House and recent opinion polls have also shown softening support for US military assistance to Ukraine, which has totaled $43 billion since Russia's attack. Asked about Trump at a news conference with South Korean President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida at the Camp David presidential retreat, Biden said that his predecessor's "America First policy, walking away from the rest of the world, has made us weaker, not stronger." "America is strong with our allies and our alliances, and that's why we will endure," Biden said. Tougher task in Asia Whereas in Europe the United States has led a common defense for decades under NATO, in Asia -- seen by Biden as the critical region -- Washington has navigated individual alliances with Japan, South Korea, the Philippines, Australia and Thailand. One reason for the hodgepodge has been historical animosity between Japan and South Korea, with the Camp David summit until recently unthinkable. Yoon has turned the page by resolving a dispute over Japan's wartime forced labor of Koreans. Yoon, Kishida and Biden said they shared the same vision of a "rules-based international order" -- a nod to China's muscle-flexing in Asia but also to Ukraine, of which Japan and South Korea have been prominent non-Western supporters. China denounced the Camp David initiative, with state media saying the United States was raising tensions by creating a "mini-NATO," although there was no three-way mutual defense promise. Shihoko Goto, acting director of the Asia program at the Wilson Center, doubted that the three countries were even aspiring to collective self-defense but said their new cooperation was part of an "interweaving" with existing alliance arrangements. "As a single thread it may be weak, but because it is going to be part of that fabric and making it into a multi-layered approach, it would actually be really strong," she said. Risks await Biden has also moved bilaterally with countries concerned about Russia and China. He has said he plans to travel shortly to boost ties with Vietnam, whose tensions with Beijing run deep. But one of his big bets, India, has stood firm on its historic refusal to join alliances and is also taking part this week in a summit with Russia and China of the BRICS bloc of emerging economies. Trump is not the only wild card for the future. In South Korea, Yoon is only allowed a single term, which ends in 2027. "If an ultra-leftist South Korean president and an ultra-right wing Japanese leader are elected in their next cycles, or even if Trump or someone like him wins in the US, then any one of them could derail all the meaningful, hard work the three countries are putting in right now," said Duyeon Kim, an adjunct senior fellow at the Center for a New American Security. The post Biden widens web of US alliances faced with China, Russia, Trump appeared first on Daily Tribune......»»
Phl’s EV manufacturing, digital push seen to create 2M jobs
In response to the nation's expanding electric vehicle market, President Ferdinand Marcos Jr. has requested the Private Sector Advisory Council to provide a list of recommendations to address the need for green energy. During the fourth meeting of the PSAC Job Sector Groups in Malacañang earlier this week, Marcos stated that the nation is joining the global EV chain because of its potential for the local industry. However, the President pointed out that the nation's efforts to develop an EV industry may run into difficulties due to consumers' desire for power to come from renewable sources. In reply, the PSAC-JSG promised to look into the concept more thoroughly and to keep collaborating with their consultants in order to present the President with an improved strategy. Additionally, the PSAC-JSG has endorsed the administration's goal for the manufacture of vehicles, which includes EVs and internal combustion engines, and has suggested that data-driven case studies be conducted to identify the best prospects in the EV value chain. Supporting the government's push for EV manufacturing, the council's latest proposals include looking into 17 downstream and upstream industrial growth prospects, including mining within the EV value chain. By 2026, it is anticipated that EV sales will surpass non-EV sales globally, drastically altering a century-old sector. Many car parts will last as EV adoption increases, but some of the most expensive ones will need to be replaced. One of every four locally built components specifically for internal combustion engines is among 17 common automotive components now being produced in the Philippines. The Philippines has the fourth-highest copper reserves in the world, and by 2027, three factories will have 10 times more copper produced. The country enjoys a regional edge in the production of batteries, parts and raw materials due to its convenient access to natural resources like copper and nickel, as well as its capacity for in-house processing and production. Job creation During the same meeting, Marcos and the PSAC-Job Sector Group discussed several projects that will create over two million direct employment by 2028. PSAC-JSG made recommendations and activities that they believed would help in increase the number of job possibilities available to Filipinos. The group also informed Marcos about the IT and Business Process Association Philippines and PSAC's suggested roadmap to make the Philippines "a global leader in the digital domain." According to a news release from the PSAC, the focused strategy outlined in the proposed roadmap is expected to create one million new IT-BPM jobs by 2028, for a total of 2.5 million employment opportunities. “These positions will, in turn, stimulate the generation of at least 550,000 new IT-BPM jobs in the countryside and 6.3 million indirect job opportunities across various industries, such as food, logistics, real estate, retail, and transportation. The ripple effect of this initiative is expected to contribute to the nation's economic development significantly,” PSAC said. Sabin Aboitiz, president and chief executive officer of Aboitiz Group and principal convenor of the PSAC, stated that the proposed roadmap is expected to provide P169 billion in annual personal income tax and inject 8.9 percent growth into the Philippines' gross domestic product, citing data from the IBPAP. "This transformative undertaking exemplifies a commitment to harnessing the potential of the Filipino workforce and leveraging technology for the nation's progress,” Aboitiz said. The post Phl’s EV manufacturing, digital push seen to create 2M jobs appeared first on Daily Tribune......»»
Plus-size movement reshapes fashion in Brazil
Defying the fashion world's narrow stereotype of beauty, Brazilian plus-size designer Amanda Momente poses confidently for the camera, wearing the clothing label she founded after failing to find other options that fit. More than half of all adults in Brazil are overweight, but Momente is part of a growing movement of entrepreneurs, activists and models who are fed up with a fashion industry they say fails to fit their needs and shames them for their bodies. "Society judged me based on one thing, so I took that thing and used it... to launch my business," says Momente, 34, dressed in a sheer black bodysuit created by Wondersize, the company she founded in 2017. The former real-estate agent, who sports a pink mohawk and multiple tattoos, got the idea after feeling uncomfortable at the gym in clothes she says were too tight, turned transparent when stretched or bunched up around her thighs. She decided to find a seamstress to help her make her own workout outfit. It turned out so well she quit her day job and plunged headfirst into the fashion world, she says. The rise of colorful, stylish clothes for Brazilians with large bodies is part of a broader international trend rejecting unrealistic standards of beauty, especially for women. "The fashion industry needs to fit our bodies, not the other way around," says Momente. - 'Identity and dignity' - Major brands tend to dedicate at most a small portion of their lines to clothing in larger sizes, leaving "repressed" demand, says Marcela Liz, head of the Brazil Plus Size Association. The plus-size sector grew in Brazil more than 75 percent in the decade through 2021, reaching sales of 9.6 billion reais (about $1.9 billion) that year, according to the association. It projects sales will hit 15 billion reais by 2027 in Latin America's biggest economy. "Supply has improved, but we're still not meeting demand," says Liz. The nascent industry sashayed through Sao Paulo this month at the Pop Plus fair, where indie designers showed off sparkling skirts, racy tops, T-shirts stamped with bold statements and other clothes in sizes ranging up to 70. "The market saw fat people as people who didn't like fashion, who just wanted to hide their bodies," says Flavia Durante, the activist who founded the fair in 2012. "We had clothes, not fashion," she told AFP. "Fashion isn't just about consumption. It's about identity and dignity." - More work to do - TV presenter and plus-size model Letticia Munniz has strutted the runway at glitzy Sao Paulo fashion week, made the cover of glossy magazines and been the face of numerous ad campaigns. But she says real inclusion remains a long way off for the overweight and obese in Brazil -- 57 percent and 23 percent of the adult population, respectively, in the country of 203 million people. "Things have improved, but our work is still seen as just checking a quota box. We're not seen as real equals," she says. The activist and influencer, who usually wears custom-made clothes, says she is glad to see more plus sizes on runways -- but adds that doesn't necessarily mean they are actually available in stores. She encourages her more than one million followers on social media to love themselves as they are. "When you find something made to exalt your body instead of hide it, it changes everything," she says in one post. mls/jhb/md/dw © Agence France-Presse The post Plus-size movement reshapes fashion in Brazil appeared first on Daily Tribune......»»
MPTC, SMC forges historic P72-B toll road deal
Two industry powerhouses—Metro Pacific Tollways Corp. or MPTC and San Miguel Corp. or SMC—are set to jointly develop two toll road projects with a combined cost of P72 billion that would further ease mobility in Southern Luzon. The companies signed a Memorandum of Agreement last Monday, 14 August, where they formalized their bid to design, build and operate the 87.96-kilometer Cavite-Batangas Expressway or CBEX and Nasugbu-Bauan Expressway or NBEX. According to SMC President and CEO Ramon S. Ang, the partnership is a “historic collaboration” that will deliver world-class road networks for Filipinos. “This collaboration stands as a testament to what we can achieve when we are united in purpose,” Ang said. Meanwhile, MPTC Chairman Manuel V. Pangilinan said: “Together with SMC, we envisage a future where our CBEX and NBEX can help pave the way for connectivity and economic growth in the CALABARZON region.” The CBEX is a 27.06-kilometer road that will establish a crucial link connecting CALAX’s Silang (Aguinaldo) Interchange to Batangas, Meanwhile, the 60.90-kilometer NBEX will provide seamless connectivity from Nasugbu to Bauan, Batangas. The route will traverse the townships of Silang, Amadeo, Tagaytay, Indang, Mendez, and Alfonso in Cavite before crossing into Nasugbu and finally reaching Bauan, Batangas. The groundbreaking of CBEX is scheduled for 2024, while NBEX is likely to be complete and open to the motoring public by 2027. In 2018, MPTC presented a proposal for the 50.4-kilometer Cavite-Tagaytay-Batangas Expressway project to the Department of Public Works and Highways and was granted the original proponent status. Similarly, SMC's unsolicited proposal for the CBEX and NBEX was approved by the Cavite and Batangas government. Both projects share the common goal of connecting the provinces of Cavite and Batangas through Tagaytay City and MPTC and SMC have come together as partners in this significant venture. The post MPTC, SMC forges historic P72-B toll road deal appeared first on Daily Tribune......»»
Aboitiz group takes bold nuke steps
Aboitiz Power Corp., the holding company for energy-related investments of the Aboitiz Group, is holding an exploratory discussion with Ultra Safe Nuclear Corp., an American firm that can potentially help the company’s local development of nuclear energy. In an interview with reporters on Thursday, AboitizPower president and CEO Emmanuel Rubio conveyed that nuclear power, despite being a highly politicized issue, will ramp up affordable electricity supply in the country, especially during summer months when demand is historically higher. “We are in early discussions. Nuclear power should always be an option for the country. When it becomes available, it’s going to be an economically feasible solution that’s not emitting carbon dioxide but there has to be several items that need to be in place,” Rubio told reporters. 2030 target launch Among others, he said there should be a government-to-government agreement in terms of nuclear development to ensure that its implementation will strictly follow the International Atomic Energy Agency. “But this technology, I think the licensing will be around 2027 to 2028 so it’s going to be beyond that. Maybe around 2030, we can seriously consider that option,” he added. Rubio also pointed out that since nuclear is the only carbon-free alternative to coal or other fossil fuels for its baseload capacity, any developer should only tap the most effective technology for its development. Due to the alarming climate change effects, both the government and the private sector are rushing toward slashing their respective carbon emissions, on top of deploying sustainable programs and projects. Rubio, who was also a keynote speaker during the Asian Conference on Climate Resilience and Disaster, reiterated the importance of seeking innovative solutions that will ensure a robust and sustainable energy future. “While we champion renewable energy, we must not only advocate for its adoption but also uncover its inherent limitations. Once we do, we should develop strategies to bolster its potential,” Rubio said. “Acknowledging that solely relying on renewable energy or specific types of technology, may not be enough to meet our ever-growing energy needs,” he added. The government, through the National Renewable Energy Program, seeks to raise renewables’ share in the power mix to 35 percent by 2030 and 50 percent by 2040. To complement this, AboitizPower also aims to expand its portfolio to support this goal by investing P190 billion until 2030 to have a portfolio of 9,200 MW evenly split between renewable energy and thermal sources. The post Aboitiz group takes bold nuke steps appeared first on Daily Tribune......»»
Angat Dam reserve level short of 12 meters — MWSS
The Metropolitan Waterworks and Sewerage System or MWSS is hoping for a further increase in the reserve level at Angat Dam as it nears the target of 210 to 212 meters, which officials said Wednesday will ensure enough supply for Metro Manila in the first six months of El Niño next year. MWSS division manager Patrick Dizon said the dam’s reserve has risen to 199.9 meters due to the heavy rains brought by typhoons “Egay” and “Falcon.” “The weather bureau predicts El Niño to start by the fourth quarter this year and last until the second quarter of 2024. With an elevation of 210 to 212 meters by the end of this year, we are more assured of a water supply during the drought period,” Dizon said. He said this ensures enough water supply from Angat Dam in Bulacan to households and commercial establishments in Metro Manila for this month and strengthens chances of a manageable supply in the fourth quarter of this year up to the second quarter of next year. Angat Dam in Bulacan supplies 90 percent of the water requirements of Metro Manila, and Dizon said the recent rains also augmented reserves in watersheds near the dam, which means the water allocation of 48 cubic meters per second to this area is still reasonable for this month. “We’re still experiencing rain this month. We’re coordinating with and can request for a higher allocation from the National Water Resources Board, but currently, we can still manage with the existing supply from our watersheds,” Dizon said. However, he stressed the public must still conserve water and find ways to collect and store more water as the reserve level at Angat Dam has yet to reach its desirable mark while the government is promoting a “whole-of-the-nation” approach to water security. Dizon said part of this is the continued construction of water augmentation projects. “We’re coordinating with the Water Resources Management Office to speed up approval of construction permits, he said. Jose Dorado Jr., deputy administrator for the Engineering and Technological Operations Group of MWSS, said a facility in Cavite will be used by water distributor Maynilad, while Manila Water will tap Laguna Lake and East Bay in Calawis, Antipolo. Another is a facility in Poblacion, Muntinlupa. For the long term, Dorado said the 60-meter Kaliwa Dam is expected to be completed by 2026 and will be operated in the first quarter of 2027. The Kaliwa Dam is near communities in General Nakar, Quezon and Tanay, Rizal. Dizon said households in Las Piñas City serviced by Maynilad will continue to experience water interruptions this month until November due to the replacement of filtration membranes of water plants that draw their supply from Laguna Lake. “These maintenance activities are required by law to be conducted every five years as rains in November and December will make the water in Laguna Lake cloudy. They ensure that the quality of the water from the lake passes the Philippines National Standards,” he said. The post Angat Dam reserve level short of 12 meters — MWSS appeared first on Daily Tribune......»»
Pope winds up Portugal visit with big outdoor Mass
Pope Francis celebrated an open-air Mass before a huge crowd on Sunday at a waterside park near Lisbon to wrap up an international jamboree of Catholic youth. Around 1.5 million people attended the service at the Parque Tejo on the eastern outskirts of the Portuguese capital, the Vatican said. The crowd waved national flags and cheered as the 86-year-old pope arrived at the park, which was built for the occasion on a former landfill site. Many had camped out overnight in sleeping bags or floor mats after attending a vigil there held by the pope. "You are the hope of a different world," Francis said in his homily as many national flags fluttered in the sea of pilgrims. The leader of the world's 1.3 billion Roman Catholics also urged the pilgrims to pray for those who could not come "because of armed conflicts and wars". "There are many of them in our world. In thinking of this continent, I feel great sorrow for beloved Ukraine, which continues to suffer greatly," he added to applause. With little shade in the park, pilgrims protected themselves from the blazing sun with umbrellas or makeshift tents made from sheets. "It's extraordinary to be able to be here to see our Pope Francis who has managed to gather people from the whole world," Pimentel Gomes, a 52-year-old priest from Brazil, told AFP as he sat for breakfast before the Mass. Unforgettable days The pope, who now uses a wheelchair or walking stick to get around, addressed some 24,000 event volunteers on Sunday afternoon to thank them before flying back to Rome. "You have made these unforgettable days possible," he said. Francis is expected to give a press conference onboard the papal plane, which is set to land in Rome at around 10:15 p.m. (2015 GMT) This was his first foreign trip since he spent nine nights in hospital after undergoing hernia surgery in June. Charlotte Bordas, a 26-year-old who came from Mont-de-Marsan in southwestern France, said she was moved to see the pope had made the trip despite his health problems. "We see he's really tired, weakened, but he still took the time to come to see us, talk to us, and it is particularly touching for me to see him," she told AFP. Francis arrived in Portugal on Wednesday for World Youth Day, a six-day international Catholic jamboree featuring festive, cultural, and religious events. It comes as Francis attempts to galvanize young Catholics at a time when secularism and priest pedophilia scandals cause some to abandon pews in Europe. Room for everybody The pope met 13 victims of clerical abuse at the Holy See's diplomatic mission in Lisbon during his first day in Portugal. He also met 15 youths from war-torn Ukraine, visited a community center in Lisbon's impoverished Serafina neighborhood, and prayed at the shrine of Fatima north of the Portuguese capital. During his visit Francis stressed his call for inclusivity, telling the World Youth Day opening ceremony on Thursday that "in the Church, there is room for everyone". He then led the crowd of half a million people in a chant of "todos, todos, todos" or "everyone, everyone, everyone" to press his point. "It has been an extraordinary moment of joy, of energy, with remarkable speeches by the Holy Father," Portugal's Socialist Prime Minister Antonio Costa told public television RTP. Francis received an enthusiastic welcome throughout his visit to the Catholic-majority country, with well-wishers lining the streets to see him go by. World Youth Day, created in 1986 by John Paul II, is the largest Catholic gathering in the world and features a wide range of events, including concerts and prayer sessions. This edition, initially scheduled for August 2022 but postponed because of the pandemic, is the fourth for Francis after Rio de Janeiro in 2013, Krakow in 2016 and Panama in 2019. At the end of Sunday's Mass, the pope announced that Seoul in South Korea would host the next edition in 2027. The post Pope winds up Portugal visit with big outdoor Mass appeared first on Daily Tribune......»»
DBM: P2T in loans to prop up ‘24 budget
The Department of Budget and Management yesterday confirmed the government will borrow over P2 trillion to fund part of the proposed P5.768-trillion national budget for 2024. The fresh borrowing would increase the national debt to above P16 trillion, which equates to P145,339 in debt for each of the 110 million Filipinos, up from P129,798 at the current level of the nation’s overall debt of P14.1 trillion. According to DBM, the borrowing program for 2024 is valued at P2.46 trillion, or 11.46 percent more than the borrowing program for 2023, which stood at P2.207 trillion. The borrowing plan for next year is made up of gross domestic borrowing of P1.853 trillion and gross foreign borrowing of P606.85 billion. In a Palace press briefing, DBM Undersecretary Joselito Basilio said the planned borrowing is “consistent with the medium-term fiscal framework.” The Marcos government has borrowed P1.327 trillion as of the end of June this year. This brought the country’s total sovereign debt to a new record high of P14.15 trillion as of the end of June 2023, up 0.4 percent from the end of May, when it was P14.10 trillion. The Duterte administration also embarked on an aggressive borrowing spree to fund its response and recovery efforts as the pandemic-induced lockdown triggered economic contractions in 2020 throughout the middle of 2021. Debt-GDP ratio Basilio said the government’s borrowing program will gradually decline as the country recovers from the Covid-19 pandemic. “From now until 2025 and 2026, (the government’s borrowing) will peak… by 2027 and 2028, it will go down,” he said. He said the government also aims to reduce the debt-to-gross domestic product or GDP ratio to less than 60 percent by 2025, then further down to 51.1 percent in 2028, and reduce the budget deficit to 3.0 percent of GDP by 2028. The debt-to-GDP ratio represents the amount of the government’s debt stock relative to the size of the economy. As of the first quarter of 2023, the country’s debt-to-GDP ratio stood at 61 percent, down from 63.5 percent in the first quarter of 2022. The Philippines ended 2022 with a debt-to-GDP ratio of 60.9 percent, down from 63.7 percent as of the third quarter of last year — a 17-year high or the highest since 2005. This is the highest debt-to-GDP ratio since 2005 when it hit 65.7 percent, well over the internationally recommended threshold of 60 percent. The post DBM: P2T in loans to prop up ‘24 budget appeared first on Daily Tribune......»»
Phl to borrow more than P2 trillion to fund 2024 national budget
The Department of Budget and Management (DBM) said on Thursday that the Philippine government plans to borrow more than P2 trillion in 2024 to fund parts of the planned P5.768 trillion national budget for next year. Data from DBM's Budget of Expenditures and Sources of Financing for Fiscal Year 2024 showed that next year's borrowing program is worth P2.46 trillion, which is 11.46 percent more than the borrowing program for 2023 worth P2.207 trillion. The borrowing plan for next year is made up of gross domestic borrowing of P1.853 trillion and gross foreign borrowing of P606.85 billion. During the Malacañang Press Briefing, DBM Undersecretary Joselito Basilio said that borrowing is "consistent with the medium-term fiscal framework." The Marcos government has borrowed P1.327 trillion as of the end of June this year. This made the country's total sovereign debt hit a new record high of P14.15 trillion as of the end of June 2023, up 0.4 percent from the end of May, when it was P14.10 trillion. The Duterte administration also embarked on an aggressive borrowing spree to fund its response and recovery efforts as the pandemic-induced lockdown triggered economic contractions in 2020 throughout the middle of 2021. In a separate interview, Basilio said that the government's borrowing program will gradually decline as the country recovers from the Covid-19 pandemic. "From now until 2025 and 2026, (the government's borrowing) will peak… by 2027 and 2028, it will go down," Basilio said. The government aims to reduce the debt-to-gross domestic product (GDP) ratio to less than 60 percent by 2025, then further down to 51.1 percent in 2028, and reduce the budget deficit to 3.0 percent of GDP by 2028. The debt-to-GDP ratio represents the amount of the government's debt stock relative to the size of the economy. As of the first quarter of 2023, the country's debt-to-GDP ratio stood at 61 percent, down from 63.5 percent in the first quarter of 2022. The Philippines ended 2022 with a debt-to-GDP ratio of 60.9 percent down from the 63.7 percent level as of the third quarter of last year —a 17-year high or the highest since 2005. This is the highest debt-to-GDP ratio since 2005, when it hit 65.7 percent, well over the internationally recommended threshold of 60 percent. The post Phl to borrow more than P2 trillion to fund 2024 national budget appeared first on Daily Tribune......»»