We are sorry, the requested page does not exist
Globe reports steep 73.7% decline in blocked bank-related spam, scam SMS in 2023
The telecommunications company Globe has reported a significant 73.7% decrease in the number of blocked spam and scam SMS related to banks in 2023. This reduction is a result of the interception of 21.9 million bank-related fraudulent messages, a sharp decline from the 83.39 million messages blocked the previous year. Globe attributes this achievement to its proactive strategies and strong partnerships with major banks and financial institutions in the Philippines. The company has established anti-fraud alliances with the Bankers Association of the Philippines and individual players in the finance sector, enabling the sharing of data and intelligence to prevent and investigate fraud effectively. Anton Bonifacio, Chief Information Security Officer at Globe, emphasized the company's commitment to combating financial fraud and enhancing security measures for customer protection. Globe has invested approximately US$20 million to improve its spam and scam SMS detection and blocking system and operates a 24/7 Security Operations Center to filter out unwanted messages from both international and domestic sources. Despite certain limitations, Globe remains dedicated to customer protection and emphasizes the need for a unified approach in the fight against fraud. The company is focused on leveraging technology and strengthening alliances with key stakeholders to combat fraudulent activities. As Globe continues to advance its technologies and collaborations, it aims to provide a safer and more secure digital environment for its customers. For more information about Globe and its initiatives, visit www.globe.com.ph. (SPONSORED CONTENT).....»»
Dabawenyos urged: 8 resolutions for safer roads, communities in 2024
In 2024, Dabawenyos are urged to adopt eight resolutions for safer roads and communities. These resolutions include observing discipline on roads, proper waste disposal, and respecting neighbors' resting hours. The resolutions are as follows: 1. Use pedestrian lanes for safe crossing of streets, under Anti-Jaywalking Ordinance 778. 2. Use overpasses to ensure safe crossing of roads. 3. Properly park vehicles in designated areas to avoid inconvenience to other drivers and ensure safe sidewalks. 4. Refrain from drinking and driving under the Anti-Drunk and Drugged Driving law. 5. Observe the speed limit to avoid road crashes and accidents. 6. Practice proper waste disposal and avoid littering. 7. Follow the 5S (Search and Destroy, Seek Early Consultation, Secure Self-Protection, Sustain vector Control measures, and Sustain Hydration) to prevent Dengue. 8. Adhere to the Anti-Nuisance Ordinance, which limits loud noise until 10 pm. Dabawenyos are encouraged to report concerns to Davao City Reports at 0919 072 2222, the official Facebook Page @davaocityreports, or email davaocityreports@davaocity.gov.ph......»»
Banks urged to adopt sustainability in energy practices
The Bankers Association of the Philippines is encouraging member banks to introduce sustainability in their energy practices, particularly in their day-to-day operations......»»
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......»»
Fortifying digital finance (3)
Banking Bangko Sentral ng Pilipinas, or BSP, also issued regulations to safeguard consumers in the financial marketplace. On 28 November 2022, BSP issued Circular No. 1160, series of 2022, to implement Republic Act 11765 or the Financial Products and Services Consumer Act. BSP required Bangko Sentral-Supervised Institutions or BSIs like banks, trust companies, and e-money issuers to establish a single Financial Consumer Protection Assistance Mechanism. The FCPAM shall provide free assistance to financial consumers on their concerns with the financial products, services, and/or transactions with the BSI. This is a first-level recourse mechanism to handle consumer complaints, inquiries, and requests. Accordingly, BSP required BSIs to adopt simplified requirements and procedures for the availment of the FCPAM by financial consumers. Financial consumers unsatisfied with the BSI’s handling of their complaints, inquiries, or requests at the FCPAM level may escalate their concerns with the BSP Consumer Assistance Mechanism or CAM. BSP laid down the rules of procedure for CAM and the Mediation and Adjudication of Cases in Circular No. 1169, series of 2023, on 24 March 2023. Complaints may be filed with the Consumer Protection and Market Conduct Office either personally or through the BSP Online Buddy Chatbot, postal mail, courier, electronic mail, or other electronic means. Consumers may also request assistance in filing their complaints from the BSP regional offices or branches. Complainants have the option to proceed with either mediation or adjudication after resorting to the CAM. Aside from the establishment of CAM, BSIs are mandated to integrate the Consumer Protection Risk Management System into their enterprise-wide risk management processes and risk governance framework. The CPRMS shall be the foundation for ensuring BSI’s adherence to Consumer Protection Standards of Conduct, particularly (a) disclosure and transparency; (b) protection of client information; (c) fair treatment; (d) effective recourse; and (e) protection of consumer assets against fraud and misuse. In line with these standards, BSIs are prohibited from employing abusive collection or debt recovery practices against financial consumers. BSIs are likewise made solidarily liable with their accredited or authorized agents, representatives, or third-party service providers for their acts or omissions in marketing and transactions — which may include debt collection — with financial consumers for its financial products or services. The protection afforded to financial consumers by the regulations implemented and enforced by the financial regulations aims to fortify the growth of the financial services industry as it navigates the digital platform. For more of Dean Nilo Divina’s legal tidbits, please visit www.divinalaw.com. For comments and questions, please send an email to cabdo@divinalaw.com. The post Fortifying digital finance (3) appeared first on Daily Tribune......»»
LGUs urged to adopt eBOSS
The Anti-Red Tape Authority on Wednesday encouraged the local government units to comply with the Electronic Business One-Stop Shop or eBOSS to boost the ease of doing business in the Philippines. ARTA Director General Ernesto Perez said that the eBOSS is a program developed by ARTA in partnership with the Department of Information and Communications Technology to provide LGUs with a digitalized and streamlined business processing and licensing system. "The eBOSS makes it easier and faster for businesses to register and obtain permits, which can help to attract more investors and create more jobs," Perez said in a public briefing. Perez added that ARTA is working with the Department of the Interior and Local Government (DILG) to ensure that all LGUs comply with the eBOSS requirement. "We are providing LGUs with the necessary support and guidance to help them implement the eBOSS. We are also working with the DILG to monitor the compliance of LGUs," Perez said. As of September 2023, only eight out of 17 LGUs in Metro Manila have been verified by ARTA as compliant with eBOSS. Among them are Quezon City, Valenzuela, Marikina, Parañaque, Muntinlupa, and Quezon City, all of which have seen an increase in revenue collection and business registration. Outside Metro Manila, Lapu-Lapu, Cagayan de Oro, and Batangas City have also complied. "We urge all LGUs to comply with the eBOSS requirement. This is not only a legal requirement, but it is also in the best interest of our businesses and our economy," Perez said. ARTA's Partnership with the Civil Service Commission ARTA has also partnered with the Civil Service Commission (CSC) to improve the efficiency and effectiveness of government services. Under the partnership, ARTA and CSC will work together to develop and implement training programs for government employees on anti-red tape and ease of doing business. The partnership is also expected to promote the use of technology to improve government service delivery, Perez said. In addition, he said both ARTA and CSC will monitor and evaluate the performance of government agencies in terms of anti-red tape and ease of doing business. "We believe that this partnership with CSC will be instrumental in our efforts to improve the efficiency and effectiveness of government services," Perez said. "A more efficient and effective government will benefit both businesses and citizens. It will make it easier for businesses to operate and create jobs, and it will make it easier for citizens to access government services," Perez added. The post LGUs urged to adopt eBOSS appeared first on Daily Tribune......»»
Phl phishing attacks highest in SE Asia, linked to 2% loss in GDP
At least two percent of the global Gross Domestic Product was lost due to increasing cases of online fraud, phishing, and scams, Senator Mark Villar said Monday. Villar, presiding over the hearing by the Senate Committee on Banks, Financial and Institutions and Currencies, lamented that the proliferation of online scams threatened not only the potential of online banking but also the stability of the banking system and the hard-earned money of the Filipino people. “While digitalization and the widespread use of digital finance opened opportunities for the banking sector, it is also apparent that opportunists also devise new methods to take advantage of this emerging financial market,” Villar said. While there’s an increasing number of Filipinos using online payment platforms, Villar noted that crimes related to digital financial transactions are also growing. “A significant number of Filipinos have been targeted by digital fraud attempts and a portion of them eventually fall victim to it,” he said. The Bangko Sentral ng Pilipinas said it has received more complaints regarding online banking transactions compared to those related to using Automated Teller Machines and credit cards, among others. In fact, the Anti-Money Laundering Council reported a rise in suspicious transactions in 2020 comprising acts of phishing, skimming, and transactions related to money mules. The Security Exchange Commission likewise noted a significant rise in complaints related to online fraud committed by online lending platforms. Villar said as these scammers take advantage of their victims, they also rattle their victims' trust in the country’s banking and financial institutions. “Trust, being the currency of the banking system, must be well-earned. Given the proliferation of online fraudsters, it is imperative that we strengthen our efforts to keep scammers at bay,” he added. Among the existing laws aimed at fighting online bank fraud include Republic Act 11765 or Financial Products and Services Consumer Protection Act; the RA 11934 or Subscriber Identity Module (SIM) Registration Act; and RA 10175 or Cybercrime Prevention Act of 2012. Villa said as criminal elements adapt to legislation to perpetuate fraud, hence, “there is a need to legislate new laws to keep them off track” such as the proposed Anti-Financial Account Scamming Act. “This measure will reinforce and earn back the public’s trust in our financial institutions,” he said. The number of phishing attacks in the Philippines during the first half of 2022 already surpassed the number of attacks at over 1.8 million detected compared to 1.34 million attacks during the entire year of 2021. Villar described the spiking cases of online scams as “extremely concerning.” This, as data from Kaspersky Security Network revealed that cases of financial phishing attempts in the Philippines from February to April 2022 were highest in Southeast Asia. Villar emphasized that the Anti-Financial Account Scamming Act or AFASA will evidently deal with cases of online fraud and will provide a regulatory framework that penalizes scammers as well as entails safeguard measures to protect Filipinos and their financial accounts. “Because of the lack of a regulatory framework that penalizes these scammers, there are and there will be more victims in the foreseeable future,” he added. AMLC executive director, Matthew David, said they required banks and payment operators to maintain the 'Know Your Customer document' for their system and store a system that could verify the identity of the clients, including the bank account owners. “They are required to do some verification in order to make sure the true identity of the customers,” David added. The public committee hearing was followed by an Executive Session due to the confidentiality and sensitivity of the issues and information that will be discussed. Villar said the executive session was conducted to ensure that law enforcement measures being undertaken to apprehend and prosecute scammers will not be disrupted. The post Phl phishing attacks highest in SE Asia, linked to 2% loss in GDP appeared first on Daily Tribune......»»
The Advantage of Adopting the Right Digital Tools for your Business
Amid the uncertainty in customer behaviors and trends from the crisis, this much is clear: updating the business for a digital-first world, led by purpose, is now a must for almost every company. To do so, they must determine where new business value exists in the new normal, what digital business models will capture it, and which tools and behaviors will support the adaptability and resilience that these models require. On this section, we talked to the creators behind the award-winning platform made for businesses like yours. The Digital Advantage Companies need an understanding of 3rd Platform technologies to capitalize on improved decision-making and to deliver enhanced, customized experiences to stakeholders. The rapid acceleration of 3rd Platform technology adoption means that corporates need to actively be looking for ways to improve their operational efficiency and customer service, otherwise, they will be in danger of falling too far behind digitally-native competitors to ever catch up. Efficiency Past recessions show that controlling costs by improving operational efficiency—a task for which digital solutions are perfectly suited for—is more effective in sustaining businesses through financial turbulence than traditional cost-cutting measures alone. The biggest efficiency play is automation. Streamlining operations and automating manual processes result in greater speed, less waste and more focus on revenue-generating activities. The economics of automation is simple: the same work is performed faster and with fewer mistakes, while human capital resources can be redeployed to higher-value tasks or to fill critical gaps. Convenience Company bank accounts are available in any device, the only things you need are internet connection and a few taps on the screen. This brings about an increase in customer satisfaction as they are able to constantly keep track of their account balances and manage the information on their personal profile (i.e. add new mailing address, e-mails, telephone numbers, etc.). In addition to this, there is no need to go to the bank to get checks as they can be instantly sent via email. 24/7 Reliability Online banking services are available 24/7 all year round, even on weekends. There is no need to line up and wait for the bank to open in order to conduct certain operations. This is a huge advantage that comes with digital solutions Security With all the recent news about data breaches, you might be wondering about the security of mobile and online banking. Security is top priority for banks when choosing whether or not to offer online banking. All banks use “Pentagon-grade” encryption technology and sophisticated firewalls. Mandatory security upgrades are required by bank regulators, so you can be confident that keeping your information secure is one of your bank’s utmost priorities. As digital transactions increase and productivity grow, companies must take proactive steps to protect their data privacy and security and adopt models that give them governance over their data. Today’s Platform Driven Solutions Self-service account management, bills payment and electronic fund transfers are considered the basic banking functions that each business should have. Account management allows viewing of account balances and transaction history without going to the bank. All these were made easy and accessible, by just logging into UnionBank’s The Portal app. Bills Payment, on the other hand, gives businesses access to a large list of billers. They can pay their water, electricity, telco, and other utilities online. BIR ePayment is also available, allowing users to pay taxes online. If the company is an accounting firm, they can also pay for their client’s taxes on The Portal app. Electronic fund transfers save companies time and reduce their risk exposure. Just upload the batch crediting file on the platform and it automatically disburses it to their recipients. Clients can also set up their recipients in UnionBank Business Banking so they receive email and SMS notifications every time they are credited. All these are made possible without stepping inside a branch. Batch Electronic Funds Transfer is also now made available for UnionBank Transfers and PESONet. This enables the streamlining of bulk account to account transfers to another UnionBank account or to other bank accounts. This has highlighted the ease and convenience of going digital to corporate clients versus processing transactions through the traditional way of banking over-the-counter or paying via cheques. Going beyond the basic functions of a normal digital banking tool, The Portal’s self-enrollment feature allows businesses to conveniently self-enroll their nominated accounts and users through the simple enrollment steps. Once completed, access to The Portal is granted and clients may enjoy the convenience of processing their funds transfer instructions online. In addition, there is an option to initiate the enrollment of the beneficiary accounts individually or in bulk. This can be essential for clients that need a payee maintenance feature to ensure that the initiated transactions are only credited to enrolled account. With the convenient, hassle-free and straight-through processing in The Portal, businesses can easily push fund transfers in the comfort of their own homes or offices. This pandemic serves as a widespread test case for the effectiveness of these digital solutions, many of which will be permanent fixtures and lead to long-term changes for many businesses. Organizations that embrace digital solutions have greater resiliency in the face of adversity and are way ahead of the competition, which will enable them to recover faster and pivot from playing defense to chasing growth. While many believe it is too idealistic to have a good workplace culture and excellent compensation, many jobseekers significantly consider these two factors when applying for a job, according to two studies. The 2021 Employee Experience Survey by Willis Towers Watson reported that 89 percent of respondents believe a positive employee experience is a crucial driver of engagement, while a 2023 survey from the online recruitment platform JobStreet found that 53 percent of Filipino job seekers would like to know the salary range offered while still in the recruitment process. Aside from great benefits and compensation, employees in the IT industry pointed out that a good work culture and environment, as well as training programs, are the top priorities of job seekers. Vanessa Liwanag, business development director at Yondu, acknowledged the company’s role in her growth, “Yondu has helped me develop my leadership, decision-making, and communication skills through its effective leadership training programs. The company also helped me grow personally because of its hybrid setup. This allows me to have a work-life balance. I can still care for my family and health while contributing to the organization.” Leather, who specializes in securing networks from vulnerabilities, noted that training programs are essential as trends continuously evolve. IT professionals need to keep up in order to be efficient. Steph, a software solutions engineer, echoed this, adding that since the industry is highly competitive and fast-paced, getting equipped with the right skills and knowledge is essential. Grace, a malware researcher, said that one advantage in the IT field is that since it’s a broad industry, there is always much to learn and room for improvement. Yondu, an IT solutions company wholly owned by Globe, offers all these benefits and compensation, a good working environment, and training programs to Yondudes, a nickname for its employees. Competitive pay and benefits are OK for Yondu as the company ensures this through regularly benchmarking market data and best practices. There are also tailor-fitted rewards programs according to talent segments. Yondu also ensures its employees remain competitive and well-equipped by industry standards through various training, reskilling, and upskilling programs to hone their skills in the constantly changing tech industry. Despite the fast-paced sector continuously evolving, Yondu still values work-life balance and provides programs to support Yondudes’ well-being further. “What sets Yondu apart from other organizations is its genuine focus on understanding and supporting its employees,” said Javen Babac, lead application support specialist at Yondu. “The company recognizes that employees perform their best when they feel valued and supported, and this philosophy sets Yondu apart by fostering a positive and inclusive work environment. The organization’s commitment to understanding its employees and providing the necessary resources demonstrates its dedication to employee well-being and sets a strong foundation for professional growth and job satisfaction.” The post The Advantage of Adopting the Right Digital Tools for your Business appeared first on Daily Tribune......»»
Argentina monthly inflation highest in three decades
Argentina recorded an inflation rate of 12.4 percent in August, the highest monthly change in over three decades in a country dogged by chronic economic instability, its statistics agency said Wednesday. Prices also rose 124 percent over the past 12 months, according to a report by the Indec agency published a little over a month before general elections. "There is nothing, no money to save. We live day to day," said teacher Karina Sablich, while doing her grocery shopping. Economy Minister Sergio Massa, who is running for president, said Wednesday that "August has been one of the worst months... of the past 30 years" for Argentina's economy, blaming an "imposition by the International Monetary Fund." The increase in inflation had been expected after the peso was devalued by 21 percent in August, which had been agreed with the IMF in order to unblock part of a $44 billion loan package. The last time monthly inflation hit double digits was in April 2002, when it stood at 10.4 percent. Prior to that, the highest monthly rate was recorded at 27 percent in February 1991. The prices of food and non-alcoholic beverages saw the highest jump in August, at 15.6 percent. "An anti-inflationary plan is needed, but obviously that won't happen until" a new government takes over in December, said economist Victor Beker, from the University of Belgrano. 'The saddest thing' Argentines are no stranger to inflation woes, with several periods of hyperinflation in the late eighties and early nineties, which reached up to 3,000 percent. To exit that crisis, the government pegged the currency to the US dollar, but a worsening economic situation made that untenable by 2001. When the peso was uncoupled from the greenback, its value plummeted, causing a run on banks as people's savings were wiped out, and deadly social unrest. A few days after that devaluation, Argentina defaulted on its foreign debt, further deepening its economic and social crisis. Since then, Argentina has battled with boom and bust cycles, inflation, currency devaluations, and debt restructuring. "We continue despite everything, knowing that for now, things are not going to change," said the teacher Sablich. "That's the saddest thing about being in this country right now, the uncertainty, that we don't know how we're going to get out, who's going to get us out, how we're going to do it." 'A disgrace' Many weary Argentines are backing a radical political outsider in October's presidential race. Buenos Aires lawmaker Javier Milei, who has vowed to dynamite the central bank and dollarize the economy, in August scored the most votes in a joint primary election between all parties, seen as a litmus test for the main vote. His main rivals will be former security minister Patricia Bullrich on the right, and economy minister Massa from the ruling center-left coalition. Bullrich slammed the inflation figures on social media as "a disgrace," saying they "summed up the tragedy" left by Massa and the rest of the government. Massa, scrambling to ease the pressure on citizens' pockets, on Monday announced an increase in the minimum taxable monthly income to 1.7 million pesos ($4,850 official rate, $2300 on the parallel market). This is double the previous amount, and would leave fewer than 800,000 people in the country of 45 million paying income tax, Massa said. The post Argentina monthly inflation highest in three decades appeared first on Daily Tribune......»»
Paleng-QR now available in Mandaue
The city government of Mandaue in Cebu has launched the digital payment Paleng-QR as it helps the Bangko Sentral ng Pilipinas expands the population of Filipino adults with bank accounts. “Paleng-QR aims to strengthen the financial resilience of Filipinos and help them maximize economic opportunities through inclusion in the formal financial system,” BSP Governor Eli Remolona Jr. said in a statement released Friday. Payments facilitated Paleng-QR facilitates payments for various purchases of businesses and customers at public markets by scanning QR codes using their e-wallets and banking mobile apps which offer other financial services. “This then leads to access to other welfare-enhancing financial services, such as formal credit in a digital way, and then access to savings, insurance, and of course, investing,” Atty. Charina B. De Vera-Yap, BSP’s financial inclusion and consumer empowerment officer, said. BSP targets to increase bank account holders from 51 percent of Filipino adults to 70 percent and cashless payments up to 50 percent of all retail transactions this year. Enabling Filipinos to thrive in digital era “We aim to enable more Filipinos to thrive in this digital era. The Department of the Interior and Local Government or DILG fully supports the Paleng-QR because we believe in this policy research-backed project, which emphasizes that in order for Filipinos to really adopt cashless transactions, the palengke is the right place to start,” DILG regional director Leocadio Trovela said. According to Fintech Alliance Philippines, the majority or 37 percent of the 285 digital financial firms in the country focused on e-payments last year, while 20 percent offered loans. Filipinos who are capable of owning bank accounts could increase from 65 million to 85 million, or 30 percent higher, by 2030 as digital wallet providers and banks become more popular, data from global market analyst McKinsey & Company revealed. The post Paleng-QR now available in Mandaue appeared first on Daily Tribune......»»
DoF: Rural banks should adopt tech
Rural banks must speed up the integration of digital services in their systems to allow more Filipinos to obtain various financial services, Finance Secretary Benjamin Diokno said. “The digital divide has continued to widen, leaving vulnerable sectors of the society on the margins of economic progress,” Diokno said in a statement shared Monday by the Rural Bankers Association of the Philippines. RBAP has at least 400 members and is celebrating their rural banking consciousness week until Saturday with the theme “Rural Banks: Ensuring that No Juan is Left Behind in the Age of Digitalization.” He stressed the digital gap in banking among Filipinos is evident despite the rise of digital technologies in banking, including mobile apps and the cloud system which is an online data-sharing tool and computer programs manager. A 2022 survey by the Bangko Sentral ng Pilipinas showed 55 banks could adopt digital technologies efficiently. “With accelerated adoption of digital technologies in recent years, access to financial services and critical information has never been more readily available to the general public. DoF supports RBAP’s initiative to integrate financial technologies in their services to expand access to formal credit,” the finance chief said. Opportunity to expand services Citing the performance of ASA Philippines, a microfinance lender to rural entrepreneurs, the Asian Development Bank said rural banks could expand their loan portfolios by over 50 percent using cloud technology. To help modernize the systems of rural banks, global market analyst McKinsey & Company said foreign expertise and resources can be tapped to reach over 71 million Internet users in the Philippines and the projected growth in Filipinos with bank accounts from 50.3 million to 85 million by 2030. “The underserved rural sector is well suited to digital-first or hybrid offerings, and recent changes to onboarding requirements and agent-banking rules are designed to enable digital service providers to maximize the impact of the country’s limited rural banking infrastructure,” McKinsey analysts said. The post DoF: Rural banks should adopt tech appeared first on Daily Tribune......»»
China: Combat Anti-Black Racism on Social Media
(New York) - The Chinese government should acknowledge and condemn anti-Black racism prevalent on the Chinese internet and adopt measures to promote tolerance and fight prejudice, Human Rights Watch said today. Chinese social media platforms, which are quick to delete content critical of the Chinese government, should remove racist content that violates their commu.....»»
An inane idea
The conflict in the disputed waters in the West Philippine Sea has birthed unnecessary and unpalatable narratives plus inane proposals to dramatize the country’s condemnation of the provocative and aggressive navigational acts coming from some government functionaries, apart from escalating the tension between claimants China and the Philippines. The repeated infuriating bullying by the Chinese Coast Guard on our own Philippine Coast Guard and Philippine vessels has been relentless. China has been oblivious to our countless diplomatic protests and calls for it to stop its incursions on our territorial waters, respect our sovereign rights and accept the arbitrary ruling handed by the Permanent Arbitration Court. It has turned deaf ears to our protestations. It has been unmoved by the collective expression of condemnation of its acts of aggression against the Philippines from countries consisting of the European Union, Japan, Australia Canada, and the United States. Not even the threat by the latter to use counter-offensive and defensive measures by way of enforcing the Mutual Defense Treaty between it and our country could soften China’s provocative and aggressive stance. It stubbornly refuses to recognize the arbitral ruling of the Permanent Arbitration Court that has rejected its nine-dash expansionist claim over a large part of the South China Sea while validating the Philippines’ claim over Ayungin Shoal as within its exclusive economic zone. China’s emergence from an underdeveloped and weak country to a superpower like the United States and Russia made it easy for it to adopt the maxim that might is right. Truly, from a sleeping giant, it has become a mighty dragon spewing fire. China’s unacceptable and outrageous assaults on our territorial waters, which must be stopped, is, however, not an excuse to call for a boycott of its products. It’s a stupid idea. The proponents have not considered the repercussions if we enforce such an inane thought. We cannot be hostage to that vexing conflict with China and throw to the winds the benefits derived from our trade relations with it. China, being the largest supplier of manufactured goods, is known as the “ world’s factory.“ Every imaginable household use, clothes, shoes, textiles, construction materials, kitchen and toilet fixtures, beauty equipment, electronic gadgets, toys, outdoor and interior decors, tiles, air conditioning units, electric fans, engineered floors, kitchen utensils, heavy machinery and equipment, engineered wood floors, and a thousand other items. Compared to US and European-made, Chinese-manufactured goods are much cheaper. No wonder, they are much preferred now by the average Filipino because of the affordable prices of these products. Quality-wise, they can give Western merchandise a run for their money. A government policy of boycotting goods coming from China will deprive millions of ordinary Filipinos to have them. This is an anti-poor program. The propagates of this boycott idea seem to be either ignorant or oblivious to the fact that China is the biggest trade partner of the Philippines. Philippines exports to China have reached a whopping $10.97 billion in 2022 while imports from China rose to $28.2 billion per the latest data. If we enforce a boycott policy of Chinese products, those figures will be jeopardized. Do those propagators of such foolish advocacy realize the monstrosity of that monumentally folly? (To be continued) The post An inane idea appeared first on Daily Tribune......»»
Ejercito’s son fell victim to SMS scammers
The son of Senator Joseph Victor “JV” Ejercito became one of the latest victims of scammers who prey on their innocent victims through mobile text messaging or SMS. In a virtual interview, Ejercito narrated how his son, Emilio, was scammed by an unidentified phone caller despite the imposition of the mandatory SIM card registration law last month. “It happened, I think, around last month only. We already reported it to the NBI (National Bureau of Investigation) Cybercrime Division,” he told reporters on Friday. “What is worrisome here is it looks like an inside job,” he added. He noted that his son received several calls asking for his information after he received a credit card from his bank. “What puzzles us is that they knew his information; hence, I said it is an inside job. They know his background and everything about him,” he said. “So maybe, the kid, being naïve, thought it was legitimate because they knew his information his address, birthday, parents, and school. He gave the OTP,” he added. The OTP or one-time password is one of the most common authentication methods utilized by banks which they send to their clients through text messages. “To cut a long story short, the savings which I’ve been giving him for several years were cleaned up,” Ejercito said. “This kid is very frugal, he doesn’t spend a lot. Every time I gave him money during Christmas or birthdays, he really saved it up,” he added. The lawmaker said that the amount scammers took from his son ranged from P100,000 to P120,000. “That is why I am really saddened by this because he really saved it through the years,” he said. Due to the incident, Ejercito said he would support the inclusion of P300 million worth of confidential and intelligence funds in the 2024 proposed budget for the Department of Information and Communications Technology. “That is why if the DICT would really use it for anti-fraud or cyber [security] then I would support it,” he said. In a statement, Budget Assistant Secretary Mary Anne de la Vega said the additional P300 million in DICT’s CIF will cover the agency’s cyber security programs. The post Ejercito’s son fell victim to SMS scammers appeared first on Daily Tribune......»»
Bautista’s CLA mandate ‘ultra vires’, says source
The order of Transportation Secretary Jaime Bautista for shipping lines to avoid charging container deposits from brokers and importers, and subscribe instead to the Container Ledger Account, or CLA, is “ultra vires” or imposing powers beyond his capacity to do so, a source in the logistics industry said. “The SoTr (secretary of transportation) cannot validly issue an order adopting the CLA “ultra vires.” The Office of the Secretary has only direct line supervision and control over the department’s regional offices. The DoTr proper shall be responsible for developing and implementing the department’s policies, plans, programs, and projects,” a source who sought anonymity told Daily Tribune. The source said Anti-Red Tape Authority chief, Atty. Ernesto V. Perez admitted the CLA did not undergo a Regulatory Impact Assessment by ARTA. “The CLA is not being imposed by way of regulation by a government agency. But if a stakeholder can show that (the regulation) is being imposed by a government agency-DoTr, then we can ask that it be subjected to an RIA. Otherwise, if it is only an option and the shipping lines are not required to use the CLA, then there is no regulation by DoTr to be subjected to RIA,” the source said. “The closest agency with authority over shipping lines (other than PPA) is Marina, and it does not have any regulatory power over shipping lines,” the source added. Moreover, the source revealed, quoting a report from PortCalls, 20 shipping lines are now subscribers of CLA, including COSCO Shipping Lines (Phils.) Inc., Sinotrans (Uni-ship), Hyundai Merchant Marine (Philippines) Co. Inc., and Kyowa Shipping Lines (Skybest Logistics). He said other shipping lines that are currently subscribed to the CLA include BLPL Singapore, CK Line, Concorde Container, Eagle Express Lines Inc. (RCL South Phils.), Federated Cargo Line, Lancer Container, Macro Ocean Philippines Inc., MBF Carpenters, New Zealand Line, Oceanus Container, OOCL Philippines Inc., Samudera Shipping, Sarjak Container Lines, Southern Star Agencia Maritima Inc. (Namsung Shipping), KMTC (Phils.) Corp., and RCL Feeders Phils. Inc. CLA subscribers AISL allies? Meanwhile, the source said most of the CLA subscribers have a close alliance with the Association of International Shipping Lines. “You can check all those shipping lines that signed up with CLA. If not most, all have only one ship agent, AISL President Patrick Ronas. Not all shipping lines are AISL members. With this DoTr directive, they require all shipping lines to adopt the AISL system,” the source added. CLA is an online system that aims to simplify and speed up container deposit refunds. “Only 19.86 percent of shipping lines are subscribed to CLA. They want the remaining 80 percent also to subscribe. That’s a regulatory capture,” the source said. AISL, the source said, had been pushing for the implementation of the CLA since 2021 to contradict the performance of the PPA Administrative Order No. 04-2021 or the Trusted Operator Program- Container Registry and Monitoring System. The TOP-CRMS, currently deferred for implementation by Philippine Ports Authority Board chaired by Transportation Secretary Bautista, is said to be the answer to the overcharging of container deposits by international shipping lines, which cost the logistics industry roughly P23 billion in 2022 alone. In his 12 July 2023 letter to Joseph Collantes, operations manager of RCL Feeder Pte. Ltd., and Jesus Sedano, owner’s representative of RCL Feeder Pte. Ltd., Bautista directed shipping line operators to discontinue the container deposit practice, as the issue of delays in refunds of container deposits and unreturned deposits in the millions of pesos continued to burden and create financial difficulties for many importers that have now become an industry problem. “Discontinue container deposit practice or continue to collect container deposits contingent upon the ability to refund within 14 days and subscribe to container deposit from CLA subscribers or other providers that offer equivalent services. The cooperation and commitment of all parties will address these perennial industry concerns and significantly reduce logistics costs in the Philippines,” Bautista’s letter read. The post Bautista’s CLA mandate ‘ultra vires’, says source appeared first on Daily Tribune......»»
Teves eyes remedies for terror designation
Available remedies are being eyed by the camp of suspended Negros Oriental Representative Arnolfo “Arnie” Teves Jr. after the Anti-Terrorism Council or ATC designated the lawmaker as a terrorist. Atty. Ferdinand Topacio, counsel of Teves, said they had expected the designation as it was mentioned earlier by Justice Secretary Jesus Crispin Remulla. “On our part, we were just waiting for a formal declaration by the ATC so we can file the appropriate remedies, either administrative or court,” Topacio said. On 26 July, ATC Resolution Number 43 was approved and was signed by Executive Secretary Lucas Bersamin designating Teves, his brother former governor Pryde Henry Teves, and 11 others as terrorists over several alleged killings and harassment in Negros Oriental. The ATC said their violations included committing terrorism; planning, training, preparing, and facilitating the commission of terrorism; recruitment to and membership in a terrorist organization; and providing material support to terrorists. With the designation, the Anti-Money Laundering Council froze Representative Teves’ assets. “The Anti-Money Laundering Council’s issuance of a freeze order was based on the Anti-Terrorism Act’s Section 25 in relation to Section 36,” AMLC legal officer Luis Anthony Warren said at a Palace press briefing. He added: “Upon the designation of an individual or organization, it is ministerial upon the part of the Anti-Money Laundering Council to issue an ex parte order to freeze without delay the assets of the subjects in this case. So, that’s all.” Topacio said their camp had no knowledge yet of the matter but that they would have remedies for it under the law. The solon was tagged as the mastermind of the assassination of the late Negros Oriental Governor Roel Degamo on 4 March which also left nine others dead and several wounded. Degamo’s widow, Pamplona town Mayor Janice Degamo, said the designation of Teves as a terrorist gave hope and a sense of security to the people of Negros Oriental and it vindicated the victims who had given their testimonies. Light at the end of tunnel She said they are seeing the light at the end of a dark tunnel, and this will have a ripple effect. Meanwhile, DoJ Assistant Secretary and spokesperson, Atty. Mico Clavano, yesterday said all the assets, including bank deposits, of Rep. Teves, his brother Henry, and the 11 other persons designated as terrorists are expected to be frozen within the week. Clavano said this type of process is meant to be quick “precisely because we want to prevent the dissipation of assets.” Also designated terrorists, aside from the Teves brothers, were Marvin H. Miranda, Rogelio C. Antipolo, Rommel Pattaguan, Winrich B. Isturis, John Louie Gonyon, Dahniel Lora, Eulogio Gonyon Jr., Tomasino Aledro, Nigel Electona, Jomarie Catubay and Hannah Mae Sumero Oray. Clavano, who is also the ATC deputy spokesperson, said the council will issue a Sanction Freeze Order or SFO to banks relative to all assets of the designees. The post Teves eyes remedies for terror designation appeared first on Daily Tribune......»»
Quick AI response as small biz magnet
Digital banking powered by artificial intelligence or AI is increasingly becoming the norm. How fast and flexible industry players can maximize benefits from this technology to provide credit to most small businesses is the edge, Edwin Bautista, president and CEO of Union Bank of the Philippines, told the Daily Tribune. [caption id="attachment_164549" align="aligncenter" width="585"] Edwin R. Bautista, president and CEO, UnionBank of the Philippines[/caption] “All we know is AI will disrupt industries, so the earlier you try to figure out how to adopt it, the better. Now, the question is, how many financial institutions are prepared to make that bet of lending using alternative data sources using AI?” Bautista said. UBP’s digital banking arm UnionDigital Bank is shifting gears to provide small businesses with accessible loans using AI. It collects data from the Internet and humans and organizes them into qualitative and quantitative categories to generate text, images, audio and videos. Many small business owners usually need financial statements on paper, as they sell products and services primarily online through social media, such as Facebook, Instagram and TikTok. However, Bautista said their financial capabilities could be traced and analyzed even without the formal documents required by traditional banks, such as income tax returns, financial statements, and trading partners profiles. He stressed AI does not discriminate. “When you look at the smaller businesses, they appear as an underground economy, so they cannot produce those kinds of documents. AI will help us because what it does is it puts together different information about that particular business or person and flow of sales so it can give a prediction on whether the small business owner will pay you back or not.” This technology is critical to lenders, including informal lenders, as micro, small and medium enterprises comprise 99 percent of all businesses in the country and drive most of its economic activities. Global market researcher McKinsey & Company said Philippine-based lenders can boost their growth by tapping the country’s bankable population, which is expected to expand by 30 percent to 85 million by 2030, along with owners of small and medium enterprises. “The Philippines has an estimated 15 million informal entrepreneurs and self-employed workers. Meanwhile, retail lending is heavily concentrated in a narrow band of wealthy households,” the researcher said. McKinsey reported a few domestic digital banks had gained traction, with three digital banks, including UnionDigital, growing a total market value by $3 billion. In contrast, traditional banks only saw a $2.2 billion growth between January 2021 and January 2023. However, McKinsey stressed digital banks in the Philippines have been limiting their services to mobile payments. “While competition in digital financial services intensifies, dominant players have yet to emerge outside the mobile-payments subsector. Six digital banks have recently launched operations in the Philippines, but none lend at scale.” Unlike informal lenders, Bautista said digital banks can reach more borrowers as AI learns about all people with access to the Internet and produces sound data correlations. “The theory is that if you have many friends and are grounded in a particular community, chances are you will not just run away from your debt. The minute borrowers go outside their community. It’s challenging for informal lenders because they already do not know the people they are lending to.” With the developments in AI, Bautista said UBP is redesigning its brick-and-mortar banks by tapping digital technologies and its UnionDigital to exchange market insights, systems, and people skills to boost mutual growth. “We think we can be the number one Consumer Bank in the Philippines in the next three years. Why? Because Our growth path is based on broadening the base on which we can learn to adapt. You can only do that if you’ve transformed your front, middle, and back office accordingly.” Bautista said this means the ever-changing skills development of people of both banks. While AI has been demonized by some of the labor force and business owners worldwide, saying it will replace traditional jobs and employees, Bautista said the future remains uncertain. Still, it can also highlight innately human jobs. “AI may rather have pluses and minuses. You will be affected negatively, but you will also have a positive impact if new jobs are generated.” Bautista said proof of this is the human eye, intuition, and brain need to verify whether AI-generated data matches customers’ changing preferences and needs. “So today, I can know instantly what my customer sentiments are. If my back-end operations take me six months, what good is knowing today if I can act on it? And the only way I can act is I have people with the ability to modify their things and a back end that allows me to change my products and features near real-time.” The post Quick AI response as small biz magnet appeared first on Daily Tribune......»»
ARTA’s backtrack not in rules — PPA
Anti-Red Tape Authority Secretary Ernesto Perez’s re-evaluation of the Philippine Port Authority’s container monitoring and tracking system is not provided for under ARTA rules and is thus not valid. The ARTA retreat has no bearing as its Good Practice RIS (regulatory impact statements) rating of 36 on a scale of 40 in the program last February stays, according to PPA General Manager Jay Santiago. “ARTA has not retracted its positive rating of the Trusted Operator Program-Container Registry and Monitoring System or TOP-CRMS recalled its regulatory impact statement rating,” Santiago stressed. “I don’t know what the purpose of that ARTA memo or its value or its effect on the previously issued Good Practice RIS rating was,” Santiago said in a text message. According to the PPA chief, his office submitted all the required documents to ARTA, “sometimes twice,” and even consulted all the stakeholders in the shipping and logistics sectors, including those opposed to the scheme, before ARTA granted the Good Practice RIS. “The situation has not changed, so we do not understand what happened,” Santiago said. In a statement, ARTA defended its re-evaluation of the TOP-CRMS “upon the request of various stakeholders to be affected by the proposed regulation.” Perez said, “Our re-evaluation was diligent, and it stands as our final recommendation unless either party provides relevant additional documents,” adding that the re-evaluation was impartial and not influenced by external factors. While ARTA’s memorandum did not approve the TOP-CRMS program, it conceded the implementation remains within the mandate of the PPA. DoTr wants shift to CLA Transportation Secretary Jaime Bautista has directed shipping lines to stop collecting container deposits from brokers or reimburse the amount within two weeks. Bautista also ordered them to subscribe to a foreign firm’s Container Ledger Account or CLA. In a letter to Joseph Collantes, operations manager of RCL Feeder Pte. Ltd., and Jesus Sedano, owner’s representative of the firm, obtained by Daily Tribune, Bautista ordered the company to avail of other ways instead to collect container deposits. The alternatives include “discontinuing the container deposit practice or continuing to collect container deposits contingent upon the ability to refund it within 14 days and subscribe to container deposit from Container Ledger Account subscribers or other providers that offer equivalent services.” “The delays in refunding container deposits and unreturned deposits in the millions of pesos continue to burden and create financial difficulties for many importers that have become an industry problem. This matter has been raised by various stakeholders in the transport and logistics services sector for government intervention,” Bautista’s letter read. Earlier in July, Danny Sta. Maria, an independent broker for various imports, such as yarn and other raw materials for the clothing industry, said international shipping lines make it hard for them to collect their container deposits. “In my case, my deposits have been stagnant in their hands for four months. Each deposit for a 40-foot container is P15,000. I rented 50 containers, so the total cost is P750,000. Imagine the money sleeping with them? I could have used the money for my business,” Sta. Maria told reporters. He said that on following up on reimbursements, the shipping lines kept telling him his requests were still pending, unsigned by signatories, or the refund requests were too voluminous to transact. He said the money collected by the shipping lines lay dormant in banks while earning interest. “I pity those small importers and brokers that have been victimized by these shipping lines,” Sta. Maria said. Sta. Maria lambasted the shipping lines for holding onto their money which, he said, was illogical and unacceptable @tribunephl_raf. The post ARTA’s backtrack not in rules — PPA appeared first on Daily Tribune......»»
2nd State of the Nation Address
Anti-inflation measures Crafting of Medium-Term Fiscal Framework supported by Congress Implementation of strategies to capacitate economic sectors Results (1) 7.6 percent growth in 2022 — highest rate in 46 years. (2) January to March 2023 — 6.4 growth percent (within 6 to 7 percent target) (3) Philippines considered to be among fastest-growing economies in the Asian region and in the world (4) Strong and stable financial system (5) Banks have strong capital and liquidity positions. (6) Digital economy contributed P2 trillion in 2022, the equivalent of 9.4 percent of our GDP. (7) World Bank projects a 6 percent overall growth rate due to strong local demand, consumer spending, strength from the BPO industry, steady flow of remittances, and continuing jobs recovery (8) Inflation rate eased up from 8.7 percent in January to 5.4 percent in June. (9) Bureau of Internal Revenue posted P1.05 trillion collections — an increase of almost 10 percent over the last year (10) Bureau of Customs increased collection by 7.4 percent for the first seven months of 2023, amounting to P476 billion. (11) PAGCOR increased collection by 47.9 percent (12) PCSO increased collection by 20 percent Reduction of prices of commodities like rice, meat, fish, vegetables and sugar Roll out of more than 7,000 KADIWA stores nationwide that link farmers with consumers, benefited 1.8 million families Agriculture Science-based methods toward food security Revision of Fisheries Code Unify 300 farm and fisheries clusters composed of 900 cooperatives Extensive technology training like the use of local bio-fertilizers Distribution of farm machinery, tools and inclement Distribution of more than 5 million rice seedlings and other crops Fuel at fertilizer discount vouchers Geo-Agri map of farm-to-market roads Irrigated 49,000 hectares of farmlands across the country. Constructed 4,000 additional fabrication labs, production at cold storage facilities Built 24 multi-species hatcheries to increase fisheries production Anti-animal pest monitoring, medicines, and vaccines Cloud seeding and buffer stocks in preparation for El Niño 70,000 agrarian land titles distributed Signing of EO No. 4. Or New Agrarian Emancipation Act the condoned P57-billion farmers’ loans Smuggling and hoarding Days of smugglers and hoarders are numbered Water Supply Creation of Water Resources Management Office Working for legislation of Department of Water Resource Management Allocated P14.6 billion for water supply projects Completion of Wawa Bulk Water Supply Project Phase 1 Installed 6,0000 rainwater collection systems across the country Infrastructure 8.3-trillion peso “Build, Better, More” Program in progress 194 flagship projects Continuation of “Build, Build, Build” projects Infrastructure spending stays at 5 to 6 percent of GDP 1,200-kilometer Luzon Spine Expressway Network Program will effectively connect Ilocos to Bicol from 20 hours to just 9 hours of travel Under Mega-Bridge Program, 12 bridges totaling 90 kilometers will be constructed including Bataan-Cavite Interlink Bridge and the Panay-Guimaras-Negros Island Bridges, and Samal Island-Davao City Connector Bridge As of June 2023, 4,000 kilometers of roads and 500 bridges have been constructed, maintained and upgraded Completed Cebu’s Pier 88 smart port, new passenger terminal buildings of Clark Airport and Port of Calapan. North-South Commuter Railway System now in full swing Strategic financing Enactment into law of Maharlika Investment Fund Social security Funds for the social security and public health insurance intact and separate Energy and Power Generation Price of crude oil stabilized Since last year, gasoline and diesel prices have gone down by 18 to 29 percent, respectively. Built 8 new additional power plants, bringing to 17 the total number of power generation facilities Energy production increased by 1,174 megawatts. Almost half a million homes given access to electricity; 100 percent household electrification by June 2028 Renewable energy is the way forward Promotion of renewables targets 35 percent share in the power mix by 2030, and 50 percent by 2040 Opened renewable energy projects to foreign investments Since last year, an additional 126 renewable energy contracts with potential capacity of 31,000 megawatts awarded. To date, more than 1,000 active projects all over the country — 299 are solar, 187 are wind, 436 are hydroelectric, 58 are biomass, 36 are geothermal, and 9 are ocean-powered. Malampaya project is boon, energizing 20 percent of Luzon; renewal of the contract guarantees continued revenues and energy production for another 15 years Push for more gas exploration in other parts of the country Partnered with the BARMM in regard to energy exploration and development The Philippines now has a Unified National Grid with the interconnection of the Luzon, Visayas and Mindanao grids “One Grid, One Market” will enable more efficient transfers and more competitive pricing of electricity Performance review of National Grid Corporation of the Philippines to complete all of its deliverables, starting with the vital Mindanao-Visayas and Cebu-Negros-Panay interconnections. Social welfare Enough funds for underprivileged DSWD, DoLE, DepEd, TESDA and CHEd involved in providing assistance Programs like AICS, TUPAD, TVET for Social Equity, Social Pension for Indigent Senior Citizens, Cash-for-Work for PWDs, and Integrated Livelihood Program-Kabuhayan available for indigents Social protection Pension of the military and the uniformed personnel is as important, urgent, and humanitarian as that of all other civilian Filipino employees Working closely with Congress to ease the transition from the old system to the new one, to guarantee that no effects are felt by those in the uniformed services. The post 2nd State of the Nation Address appeared first on Daily Tribune......»»
Marcos’ anti-drug focus must improve
Senator Ronald “Bato” dela Rosa hopes President Ferdinand “Bongbong” Marcos Jr. will put more focus on the drug problem during the remainder of his term. “Just a little attention. I hope the drug situation will be taken care of,” Dela Rosa said shortly before Marcos delivered his second State of the Nation Address. “It is different if the Chief Executive himself will pay attention to the drug problem,” he stressed. In his SoNA, Marcos said the battle against illegal drugs will continue after the government launched the “Buhay Ingatan, Droga’y Ayawan” or BIDA program and will put up 102 Balay Silangan Reformation Centers nationwide. “The campaign against illegal drugs continues — but it has taken on a new face. It is now geared towards community-based treatment, rehabilitation, education, and reintegration, to curb drug dependence among our affected citizenry,” the President said. Marcos said the government will be relentless in the fight against drug syndicates by “shutting down their illegal activities and dismantling their network of operations.” “Unscrupulous law enforcers and others involved in the highly nefarious drug trade have been exposed. I will be accepting their resignations,” he said. The President vowed to install individuals of unquestionable integrity who will be effective and trustworthy in the task of eliminating the drug problem, which he described as a “dreaded and corrosive social curse.” “We cannot tolerate corruption or incompetence in government,” he added. Meanwhile, Dela Rosa believes Marcos will continue to support the push to revive the Reserve Officers Training Corps. “He already mentioned the ROTC [program] during his first SoNA. The ROTC bill is still pending, but I will continue pushing for it,” Dela Rosa said. Wowing ‘em all Vice President and Education Secretary Sara Duterte wore a traditional Maguindanaon dress for the annual event. Her SoNA outfit was a Bangala paired with trousers and a flowing inaul or malong. It featured gold accessories that symbolize the wealth and abundance of Mindanao’s natural resources. The inaul is a Maguindanao fabric intricately handwoven using cotton and silk. It is a treasured cultural gem that profoundly reflects the pride, bravery, heritage, and history of the people of Maguindanao. During the first SoNA, Duterte wore a traditional Bagobo Tagabawa dress. She thanked Gov. Bai Mariam Mangudadatu of Maguindanao del Sur and Jearson Demavivas for their creative input that inspired her to wear a Maguindanaon traditional dress. Cotabato City-based designer Israel Ellah Ungkakay designed the dress. Ungkakay has been promoting the culture and tradition of the Moro people of Mindanao through his designs for 16 years after finishing college at the University of Southern Mindanao. He was recently recognized for his contributions to the promotion of Mindanao by the local government of Cotabato City. Travel sector highlighted Tourism Secretary Christina Garcia Frasco rated exceptional the President’s address as he highlighted the crucial role that tourism plays as a reliable pillar of economic growth, providing livelihood to more than 5 million Filipinos. “The President’s ‘whole-of-nation’ approach to development we take as an affirmation of his administration’s thrust towards strengthened tourism governance between and among all stakeholders of the tourism industry,” she said. “As an industry that banks and thrives on the scale of infrastructure development, we are elated to know the President’s continuing commitment to connect all prospective sites of economic development,” she added. Marcos said the stress on tourism will spur the sector’s development countrywide, and consequently, create more livelihood opportunities for Filipinos. The post Marcos’ anti-drug focus must improve appeared first on Daily Tribune......»»