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Globe closed on an additional P1.16-B in tower sales
Globe Telecom, the Zobel Family’s telecommunications company, disclosed that it closed on the sale of another 91 cell towers to Frontier Towers to raise approximately P1.16 billion in cash......»»
Reflecting on Your Business Wins
We’ve taken a look at moments of setbacks before, now let’s have a look at moments of triumph that have served as beacons of further hope that your business will be successful and personal validation, reminding us that our efforts and sacrifices are not in vain. These hard-earned victories, whether they manifest as surpassed sales […].....»»
Decline in exploitation cases; advocacy efforts strengthened
AN OFFICIAL from the Police Regional Office-Davao Region (PRO-Davao) reported two cases of online exploitation of women and children in the region in 2022......»»
Philippine food firms’ sales hit $133 million in Dubai fair
Philippine food companies generated $133 million worth of export sales from a food trade show held in Dubai last month, according to the Center for International Trade Expositions and Missions......»»
GTA 6 Delay Possible as Rockstar Pushes Staff Back to Office
One of the most highly anticipated games in history, Grand Theft Auto VI, may face delays in its release, potentially pushing its launch from 2025.....»»
Xinhua world economic news summary at 0900 GMT, March 18
BEIJING -- Global new energy passenger car sales are predicted to exceed 39 million units by 2030, said a report obtained during the China EV100 Forum 2024 concluded Sunday in Beijing. That will mark a penetration rate of almost 50 percent, rising from the nearly 20 percent in 2023 with the sales of over 13 million units, according to the report issued by China EV100, a new energy vehicle (NEV) industry think ta.....»»
Korean firm agrees to terms of Comelec auto polls contract
South Korean firm Miru Systems and its partners have agreed with the Commission on Elections on the terms in the service contract for the 2025 automated election system.....»»
Auto, EV players welcome possible tariff relief for hybrid, e-motorcycles
Automotive firms and electric vehicle players welcomed yesterday the potential expansion of the list of vehicles that can enjoy lower tariffs to include hybrid vehicles and e-motorcycles currently being studied by the government, saying that their inclusion may promote the shift to more environment-friendly transport options......»»
PNP allows civilians to own semi-auto rifles
Civilian gun owners can now own and register 7.62mm semi-automatic rifles, according to the Philippine National Police.....»»
Prime Infra unit starts first auto MRF plant
Prime Integrated Waste Solutions Inc., a subsidiary of Enrique Razon’s Prime Infra, has inaugurated the country’s first automated materials recovery facility (MRF) that will help address solid waste management problems......»»
RCBC auto, housing loans hit P121 billion
Yuchengco-led Rizal Commercial Banking Corp. (RCBC) sustained its auto and housing loan portfolio last year, rising by 24 percent to P121 billion amid high demand......»»
Comelec mipadayon dayon sa bidding sa auto machine
Comelec mipadayon dayon sa bidding sa auto machine.....»»
Kris Aquino, Boy Abunda meet up in heartwarming reunion
Kris Aquino and Boy Abunda finally saw each other since the former went to the United States to seek treatment for her auto-immune diseases. .....»»
GM and Stellantis Engage in Intensive Union Talks for New Contract
Title: Talks Continue as Stellantis Negotiates Labor Contract with United Auto Workers Date: [Insert Date] Source: The Daily Guardian Stellantis, the parent company of Chrysler,.....»»
Sept. auto sales surge 27% — CAMPI
Reflecting the robust economic rebound, the automotive industry reported sales in the year to September posted a strong double-digit growth from 2022. In a joint report on Sunday, the Chamber of Automotive Manufacturers Philippines Inc. and the Truck Manufacturers Association said industry sales in the first nine months were 314,843, which was 26. 9 percent higher than the 248,154 units sold last year. For this year, CAMPI said it is targeting to sell 423,000 units, including imported vehicles. “We recorded the highest monthly sales in September, and we hope that positive consumer outlook will be sustained in the fourth quarter,” according to CAMPI president Rommel Gutierrez. On the other hand, sales of locally assembled vehicles in September 2023 posted an uptick of 9.5 percent or 38,628 units compared to 35,282 units sold in 2022. Cars selling hot anew The sales of passenger cars also surged to 9,558 units in September 2023, improving 19.8 percent from 7,976 units a year ago. The industry group also stated that commercial vehicle sales went up by 6.5 percent year-on-year to 29,070 units from 27,306 units. Moreover, sales of passenger cars managed a 33.2 percent increase to 80,009 units from 60,058 units in September 2022. Commercial vehicle sales jumped by 24.8 percent to 234,834 units from 188,096 units last year. “The auto market has remained resilient since 2021 and the current trend indicated that we will breach the highest pre-pandemic sales performance and achieve full industry recovery in 2023,” Gutierrez said. The brand with the greatest number of units sold in September 2023 was Japanese brand Toyota with a 45.81 percent market share, trailed by Mitsubishi with an 18.44 percent market share, followed by American brand Ford with 7.33 percent; Japan’s Nissan, with 6.36 percent; and Suzuki, with 4.28 percent market share. The post Sept. auto sales surge 27% — CAMPI appeared first on Daily Tribune......»»
Chery Auto rolls out 3 new energy vehicles
Automotive firm Chery Auto Philippines is looking to complement its product line up in the country as it plans to introduce three new energy vehicles......»»
LTO-7 to LGUs: Register unregistered vehicles
MANDAUE CITY, Philippines – The Land Transportation Office in Central Visayas (LTO-7) is encouraging local government units to register their unregistered vehicles. LTO-7 Director Glen Galario on Friday, Oct. 20, said this to ensure that all vehicles owned by the LGUs are registered and that they are road-worthy. Moreover, Galario said that this can also help LTO-7 generate more income for the region, as was discussed during the strategic meeting of LTO in Tagaytay City a month ago. All vehicles are mandated by the law to be registered under any of the following classifications that include private passenger automobiles, public utility automobiles, taxis and auto calesas, tourist motor vehicles, and government automobiles among others. Section 7 of Republic Act 4163 states that motor vehicles owned by the Government of the Philippines or any of its political subdivisions shall be registered under these classifications ((m)Government automobiles; government trucks; and (o) government motorcycles. Motor vehicles owned by government corporations, by government employees, or by foreign governments shall not be registered under this classification. According to the LTO website, Motor Vehicle (MV) Registration refers to the procedures of getting the first and most important process for every car and car owner done. The procedure creates a unique identifier – the registered plate numbers, which helps the government create a link between vehicles and their owners and users, making the vehicle easy to trace and monitor. READ: New LTO-7 director to prioritize road safety Moreover, MV registration ensures that the car is always in tip-top condition and able to keep its driver and passengers safe and out of harm’s way every time. “We can proudly say that if not all, most of the vehicles owned by all the LGUs are registered, to that extent, it can guarantee us that all plying in within the region is road worthy especially if it is owned by the government,” said Galario. Mandaue City District Office Grand Opening Meanwhile, LTO-7 also conducted the blessing and grand opening of its Mandaue City District Office and Licensing Center on Friday, Oct. 20. The LTO District Office is located on the 3rd Floor of City Time Square 2, in Barangay Tipolo. All motor vehicle registration and license transactions can be done at the office. The new office which has an area of 650 square meters is one of the biggest LTO-7 offices in the region. Galario said that it can accommodate.....»»
Driverless taxis to serve Tokyo commuters
Japan’s Honda and American auto titan General Motors announced on Thursday that they plan to launch a driverless taxi service in Tokyo in 2026, helping tackle labor shortages in an ageing society. Co-developed by San Francisco-based self-driving car operator Cruise, the project also will offer “an entirely new kind of mobility experience” in Japan, Honda said in a statement. “This will be a major step toward the realization of an advanced mobility society,” its chief executive Toshihiro Mibe said. The project is also aimed at “helping address societal issues facing Japan, such as the taxi and bus driver shortage,” Honda added. Autonomous vehicles are being pushed by Japan’s government as the country battles a rapidly ageing population and persistent labor shortages. In 2020, Japan became the first country in the world to allow a vehicle capable of taking full control in certain situations to operate on public roads. The post Driverless taxis to serve Tokyo commuters appeared first on Daily Tribune......»»
NEDA thumbs down further interest rate hikes
National Economic and Development Authority Secretary Arsenio Balisacan on Friday rejected future increases in interest rates, saying that they could harm consumers already facing high inflation. While the economy might be able to survive additional monetary tightening from Bangko Sentral ng Pilipinas, Balisacan said in a press briefing that raising interest rates further is "not necessary." Higher interest rates require businesses and consumers to spend more money to pay off credit cards, mortgages, and auto loans. As a result, there would be less demand, driving down the cost of products and services. "If I were in the Monetary Board, I would say no," Balisacan said when asked if resuming the tightening cycle could stop the nagging inflation. Balisacan said that the Bangko Sentral ng Pilipinas has been "the most aggressive" in the area, even reaching a 16-year high of 6.25 percent, which he said is "something we should be proud of." He cautioned that doing so may harm manufacturers and consumers by raising production costs, "depressing" demand, and negatively impacting the economy. According to Balisacan, higher interest rates might strengthen the peso and increase the cost of the nation's exports. He expressed concern about this effect. "We know that raising the interest rates will hurt the economy, will hurt consumers, will hurt producers, and that also has long-term effects in succeeding 12 months," Balisacan said. Even though the 2 to 4 percent inflation target appears to be "quite a challenge," NEDA assured that the government is working on interventions to manage inflation. According to Balisacan, the economic team is still trying to meet the goal before the year ends. Balisacan is sure that holiday spending will increase the nation's gross domestic product despite the high rate of inflation. "Inflation has a negative effect on growth. On the other hand, there are positive developments. Government agencies with relatively high underspending in the first half of the year are addressing that issue. Christmas season is also around the corner. That also generates a lot of extra push. Remittances also remain stable," Balisacan said. The post NEDA thumbs down further interest rate hikes appeared first on Daily Tribune......»»
Half of finance work could be AI by 2030
Dear Editor, The G.M.A. Integrated News unveiling of A.I. sportscasters Maia and Marco last 24 September captivated many people during the start of the National Collegiate Athletic Association or NCAA Season 99. This groundbreaking introduction sparked intense discussions on social media about Artificial Intelligence’s potential implications on journalism’s future. People expressed a mix of excitement and apprehension, highlighting the need for further exploration and understanding of AI’s role in shaping the field of journalism. As Artificial Intelligence advances at an unprecedented rate, it is not only in journalism where AI can automate work. According to McKinsey, by 2030, approximately half of the finance work could be automated. This automation will bring opportunities and challenges, as AI can streamline processes and improve efficiency. The finance areas that have already started to be automated are the banking and financial institutions, risk assessments, credit scoring, customer service, and market sentiment analysis. In banking and financial institutions, an AI called KAI-GPT can auto-detect risks, generate insights, and make financially literate recommendations. Launched on 31 May 2023, KAI-GPT is the world’s first banking-specific large language model designed to address the industry’s unique accuracy, transparency, trustworthiness, and customization needs. The KAI-GPT provides a human-like, financially literate response. Westpac, Australia’s first bank and oldest company serving more than 12 million customers, is in the process of implementing KAI. Meanwhile, in risk assessment, the tool DataRobot AI can simulate potential fraud scenarios and detect credit risks, fraud risks, and market volatility. Using predictive and generative DataRobot AI improves the technical ecosystem in Financial Services. Sanlam, Africa’s largest non-banking financial institution, uses DataRobot AI, resulting in more streamlined and transparent solutions, driving critical business value levers such as sales and client retention. In the finance area of credit scoring, the Personetics and AIO Logic can detect risk, determine rates, and structure customer loans. Personetics serves over 140 banks and financial institutions across 30 global markets, reaching 135 million banking customers. United Overseas Bank, a Singapore-based Banking and Financial Services organization with 24346 employees and revenues of $9790000.00 billion, uses Personetics. AIO Logic is well known as an AI for Automated Payment Management, Automated Balance Management, Automated Accounting, Complex Structures, Automated Invoicing, Automated Reporting and Analytics. These two credit scoring AI can also assess customers’ creditworthiness and set credit limits. In customer service, robo-advisors, chatbots, and virtual assistants provide a conversational system fit for financial planning assistance. Robo-advisors offer financial advice and limited human interaction, which appeal to Generation Z, who have virtual interactions with advisors and are increasing interest in novel assets like cryptocurrency. The AI is now also in market sentiment analysis, and Bloomberg G.P.T. shows how to automatically analyze news, articles, social media and other classified textual data. Launched on 30 March 2023, Bloomberg GPT is a significant language model with 50 billion parameters trained explicitly on a wide range of financial data. It can perform market sentiment analysis and even help manage investment portfolios. These advancements in AI technology have the potential to significantly streamline and automate many tasks in the finance industry, reducing the need for human intervention. The applications of generative AI in Finance will be widely seen in regulatory compliance and reporting, financial forecasting, portfolio optimization, anti-money laundering and algorithmic trading. However, it is essential to note that while AI can enhance efficiency and accuracy, it is not a substitute for human expertise and judgment. Human oversight and decision-making will still be crucial in navigating complex financial landscapes and ensuring AI technologies’ ethical and responsible use. Still, job displacement in finance may occur, and the need to upskill the workforce is now paramount. Arnel Lopez Cadeliña arnelcadelina@gmail.com The post Half of finance work could be AI by 2030 appeared first on Daily Tribune......»»