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StareX: Failure, beginning of success
StareX was the first-ever NASA-led space program with a private sector component, namely Elon Musk. And it started with three consecutive failures. The first three pilot launches, Falcon 1, 2, and 3 were total disasters. Elon was bleeding with a total of about half a billion dollars down the drain. Elon and NASA wanted a reusable rocket like the Space Shuttle which was shelved after many years of success due to old age. Without a reusable rocket, any space program relying on “throw-away” rockets, would not be economically feasible. But it seemed “archaic” to resort to cheap simple “splash down” of the command module plus a smooth horizontal runway touchdown. The new ambitious goal of the Elon-NASA tandem was to bring down the entire rocket vertically and slowly, which had never been done before, and which required a lot of trial-and-error and plenty of funds. But Elon kept on going. He just did not care. Fear of failure, which haunts all great men, was not in his dictionary. He looked at the target and forgot about the hole in his pocket. The NASA staff regarded him with both fear that he would give up and awe that he would not. It was a combination of money and perseverance that kept Elon Musk going. But destiny had a way of rewarding bull-headed men of history, like Churchill facing the German V2 rockets in London, Stalin facing the invincible Panzer at Stalingrad, and the Ottoman emperor laying siege to the Byzantine fortress that had never been breached. And so, Elon was ‘rewarded’. After Falcon 4, he won a $1.5 billion contract for Falcon 5 and 6. It was not until Falcon 9 that the impossible was finally achieved, the historic first-ever vertical landing of a spaceship. (Please watch NETFLIX ‘Return to Space’ for more highlights). Stalingrad They named it Stalingrad (renamed later as Volgograd) in honor of Stalin whose Red Army defeated the invincible German Panzer Division at the gates of this strategic passage to the east in World War II. If Stalingrad fell, the whole of Russia would soon follow. Stalin knew this do-or-die situation. He poured men and machinery at all costs because the survival of the entire nation was at stake. Millions died for the motherland, including tens of thousands of women soldiers. Stalin knew that the Russian winter stopped the invincible army of Napoleon Bonaparte a century or so ago at the very gates now held by the Germans. He wanted to do the same and succeeded. In preparation for the German invasion, Stalingrad was reduced to rubble with intense bombardment and artillery by the Germans that would rival the total bombs used in World War II so far. Ironically, the German tanks could not maneuver in the rubble and became an effective defense for the beleaguered Russians. Stalin held on, resorting to a sniper war, street by street, building by building. He became the master of urban guerrilla warfare that many revolutions would later adopt. Seeing the Germans dying from lack of food and ammunition, Stalin launched a vicious counter-offensive which would gather momentum towards the final German defeat in Berlin. He used a giant pincer to surround the Germans. Efforts for massive airlifting of food for 350,000 failed. Indeed, Stalingrad was a David and Goliath story. Success needs initial failure There is a theory which says success cannot be achieved without initial failure. If you look back through history, the failure of Copernicus in the theory of the Universe was followed by future successes. In other words, failure in the 17th century could lead to success in the 19th century. The endless evolution of Cosmic theory was slowly refined from the time we thought the sun revolved around the Earth to the thought that we are a mere speck in a Known Universe 93 billion light years in diameter. The entire evolution of technology through the centuries, with its failures and successes, prepared America for the first and second Industrial Revolutions that would propel it to a superpower. History tells us that without failures, there will be no successes. eastwindreplyctr@gmail.com The post StareX: Failure, beginning of success appeared first on Daily Tribune......»»
Agdao Public Market vendors want variety and vegetable sections merged
DAVAO CITY (MindaNews / 24 March) – Vendors of Agdao Public Market here are asking the city government to merge the Variety and Vegetable Sections into one section claiming they have difficulties in getting customers because of their location. In a letter addressed to Mayor Sebastian Duterte, the City Administrator’s Office, the City Economic Enterprise […].....»»
Second graft case filed vs Magalong
Baguio Mayor Benjamin Magalong is facing another graft case before the Office of the Ombudsman in connection with the allegedly anomalous improvement and rehabilitation of a P50-million multipurpose building in Barangay Irisan......»»
Government sets P585 billion borrowings in Q2
The government is set to borrow P585 billion from the domestic market in the second quarter amid hopes of more favorable interest rates here and abroad......»»
Over 40 defective weighing scales seized in Carbon Market
CEBU CITY, Philippines — The Office of the City Markets (OCM) of the Cebu City Government has confiscated over 40 defective weighing scales in Carbon Public Market as of March 21. Led by Market Administrator Robert Barquilla, the operation, dubbed “Operation Timbangan,” aims to ensure accurate measurements for customers. Barquilla, with assistance from Task Force.....»»
Asialink eyes P2.4 billion in truck loans as e-commerce grows
Asialink Finance Corp. is looking at lending as much as P2.4 billion this year to the fast growing market for brand new and used trucks that are essential to the growth of e-commerce and logistics......»»
Philippine bond market hits $217 billion in Q4
The Philippine bond market went up slightly in the fourth quarter of 2023 due to the increase in government bond issuances, according to a report from the Asian Development Bank......»»
Social Media Firms Shares Soar in Stock Market Debut
India’s GDP Growth Rate Drops to 4.7% in Latest Quarter According to provisional data released by the Central Statistical Office, India’s GDP growth rate has.....»»
Losses to Philippine agriculture due to El Nino reach 31 mln USD
MANILA, March 20 (Xinhua) -- The El Nino dry spell and ensuring drought have caused over 1.75 billion pesos (roughly 31 million U.S. dollars) in damage to Philippine agriculture, a senior government official said Wednesday. This year's losses due to El Nino are still low compared to 2009 when the damage to agriculture reached 17 billion pesos (302 million dollars), Presidential Communications Office Assistant Se.....»»
ADB, iSON ink deal to boost Philippines digital connectivity
MANILA, March 4 (Xinhua) -- The Asian Development Bank (ADB) said Monday that it has signed a 2.4 billion pesos (42.85 million U.S. dollars) loan with the telecom towers building and managing company iSON Tower Limited Inc. as part of a ADB-led co-financing package to enhance digital connectivity in the Philippines. The loan will support the construction, development, and operation of 800 shared telecommunicatio.....»»
ADB, iSON ink deal to boost Philippines digital connectivity
MANILA, March 4 (Xinhua) -- The Asian Development Bank (ADB) said Monday that it has signed a 2.4 billion pesos (42.85 million U.S. dollars) loan with the telecom towers building and managing company iSON Tower Limited Inc. as part of a ADB-led co-financing package to enhance digital connectivity in the Philippines. The loan will support the construction, development, and operation of 800 shared telecommunicatio.....»»
P146 billion airport contracts set for signing this year
The Department of Transportation will sign this year more than P146 billion worth of contracts for the privatization of four airports, freeing up fiscal space for the government and building up the public-private partnership landscape......»»
CPG raises P2 billion from share offer
Century Properties raised P2 billion from the listing of its Series B preferred shares on the Philippine Stock Exchange......»»
Century Properties eyes P4 billion from pref shares issue
Century Properties Group Inc. has set the preliminary terms for its planned preferred shares issuance, in which the company intends to raise as much as P4 billion......»»
Century Properties gets SEC OK for P5 billion share issuance
Century Properties Group Inc. has obtained the greenlight from the Securities and Exchange Commission to issue up to P5 billion worth of preferred shares......»»
Century Properties earns 13 percent more in nine months
Century Properties Group Inc. maintained a solid financial performance in the first nine months of 2023 as it recorded a net income of P1.3 billion, a 13 percent growth from P1.1 billion in the same period in 2022......»»
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......»»
DMW has spent P414M on distressed OFWs
The Department of Migrant Workers said on Thursday that they have spent about P414 million of its P1.2 billion action fund this year to assist distressed Overseas Filipino Workers. According to DMW Officer-in-Charge Hans Leo Cacdac, the agency still has a balance of P780 million. “We still have a balance of around P780 million. We have a catchup plan that we are doing for the last two months of the year, most of these funds will be rolled over to the year 2024 anyway,” Cacdac said in a hearing of the House Committee on Overseas Workers Affairs. Cacdac added that the action fund is for legal, medical, or humanitarian assistance. “That three-fold assistance model was assigned by no less than our dear secretary, Secretary Toots Ople because what is stated in the law is legal or other forms of assistance. But Secretary Toots pointed out the other forms of assistance are legal, medical, or humanitarian,” Cacdac added. Cacdac stated that the action fund has benefitted 5,325 Filipinos this year, including those affected by various challenges in Turkey and the Middle East. “This includes the earthquake in Turkey, those affected by the conflict in Sudan, the case of a large fire and building collapse in the UAE, Dubai, and Qatar, and recently, of course, what our OFWs are suffering from the conflict in Israel and Lebanon is also included here,” he added. The OIC added that Filipinos living in war-torn areas tend to get more out of the fund. He said that about 700 OFWs families in Israel have availed of helpline assistance. “At first, we provided P20,000 in financial assistance upon return, but Secretary Toots increased it to P30,000… There is a special case for those who were caught in a conflict or war situation like Sudan. But here in Israel, we handed P50,000,” he said. The post DMW has spent P414M on distressed OFWs appeared first on Daily Tribune......»»
Ginggay Hontiveros-Malvar: Scaling the realms of social responsibility
There is something quite riveting about Ana Margarita “Ginggay” Hontiveros-Malvar. Her gaze direct, her rhetoric fluid, she shares stories of immersing in conflict areas, of being in Leyte post-“Yolanda” and in Marawi post-violence, and within the same conversation, of her corporate hat within the “power, banking, food, land and infrastructure sectors.” Not so much as a vein mars her refined features. If not for those eyes, which reveal a depth of thought and feeling, hers would likely be a face some might take as just another classic beauty. Then again, her relationship with similarly strong-minded women cannot be discounted. She says, from the get-go, that she would rather not talk about herself or her sisters (Risa, the senator, and Pia, the broadcast news personality). Unlike them, she took the private route, but now unwittingly finds herself in the limelight. The Aboitiz Group, for which she handles a vital role, has many exciting things to share, Ginggay says. Smiling, she proceeds to rattle off some of these pillars — in education (“to create future leaders” who are solutions-oriented), in climate action and in enterprise and jobs. “For over 35 years, we’ve delivered probably over 5,000 CSR (corporate social responsibility) projects, spread over all the business units all over the Philippines. We’ve partnered with something like 600,000 individuals and organizations and we’ve invested the amount of P5.1 billion in all these different programs. We’re trying now to reevaluate what it is that’s next for Aboitiz Foundation, and then how we can serve our stakeholders better, and what are some of the things that we want to scale. Maybe to create a bigger impact in the country, help the country more, I think is what we want to do.” In the pipeline toward this goal of creating a bigger impact on development, Aboitiz Foundation is seeking more collaboration — “more conversations between organizations that are doing a lot of work already here in the country, and probably having a stronger voice and then putting that voice out there,” she enthuses. Clearly, Ginggay is in her element in the world she inhabits — at the heart of an “old legacy conglomerate,” her words, that now sees the need to transform along with the climactic times. “I lead a department called Reputation Management. We cover brands, media, corporate communications, sustainability — the ESG (environmental, social and governance) journey for the Aboitiz Group. We provide strategy, direction, governance and then very recently, just this year, we have our CSR arm which is called Aboitiz Foundation. It was recently also placed under us. Because at the end of the day, Aboitiz Foundation is like the big ‘S’ in our ESG — it’s really all about the social impact, the social good that we want to continue,” Ginggay tells the DAILY TRIBUNE in an interview on Pairfect. Ginggay is currently vice president for Reputation Management and Sustainability at Aboitiz Equity Ventures Inc., a holding company of the Aboitiz Group. For the Aboitiz Foundation, meanwhile, she works to help “scale its impactful programs for systemic change.” The mother of two is also communications lead for the Philippines’ Private Sector Advisory Council and team leader for APEC Business Advisory Council, which are areas where the visionary leader, Aboitiz Group chief executive officer Sabin Aboitiz, holds key roles. Grateful her children are adults now, Ginggay keeps her nurturing side on overdrive with her current responsibilities. “Aboitiz is a group,” she emphasizes. “And as a family of organizations, our priority has always been about people. That’s always been our passion, whether it’s the well-being of our own employees or the well-being of communities where we have our businesses. It’s really always been about people. “We don’t feel it’s right that a business does well and then the community that it’s in doesn’t. It cannot be like that — it has to go hand in hand. So, we’ve always been like that. Very people-centric. I think what we’re trying to change now in our transformation or evolution is to see how can we use more of technology and innovation and balance it with our people-centric approach. So maybe we can be a little bit faster, be better, be more data-driven in the kinds of things that we’re doing,” she says. And has her heart always been in this kind of work — one she freely admits is demanding and sometimes even emotion-driven? “My dad was pretty laidback. And he usually let us do what we want to do as long as you know, like, please do well in school, and things like that,” Ginggay recalls. “My mom was very attentive to us and she just wanted to make sure that aside from doing well in studies, you also had to do well in something else. And then, very ingrained, I think, in our DNA, I think as a family also, is that aspect of service, whether it’s public service, or you know, just service in general — whether it’s to your community or to your family, or your immediate set of, I suppose, stakeholders. So, it’s almost been like part of my DNA or something like that, or probably my character as well.” With so much on her plate, and a daily grind that consists of steering various teams to ensure the conglomerate is moving toward its goals smoothly, Ginggay makes sure she takes time — even just 30 minutes a day, she says — disconnecting from it all and connecting with herself. “Our days are very fast — they are jam-packed with schedules, meetings, a lot of stakeholder engagement activities,” she says. “There’s a lot of collaboration also that goes on between our team and the rest of the business units in the Aboitiz Group, and then a lot of meetings as well with the board just to check in on directions and things like that. It’s very fast-paced. It’s very demanding. It takes a lot of time and I think a lot of commitment… and this is what I see from all our team leaders and team members — people are really passionate about what they do. I think that’s important.” For Ginggay, certainly, such passion is necessary to lead the company toward its goals including “delivering on communications and brand that are integral to the transformation of the group into the Philippines’ first techglomerate.” Techglomerate, she explains, “is a dream in Aboitiz Group, something that we have really been working hard on for the past few years. We kind of coined the term from ‘technology’ and ‘conglomerate,’ putting it together — and it is really about trying to be more technologically advanced but we also want to incubate exciting businesses which are more in the techspace or, say, data science. To incubate all these new companies and hopefully lead in certain industries… and I think at the end of the day we realized we have a much greater responsibility to the country.” And what’s next? “We realized that to stay ahead, we also need to transform… and I suppose that transformation should happen first and foremost at the level of the person. We’re also really focused on building a new kind of culture for the Aboitiz Group, still very much rooted in our core values of responsibility, innovation, teamwork, integrity. But now, probably trying to imbibe more of the behaviors like being more entrepreneurial, trying to be more articulate, being better storytellers, being more open to new things, being more data-driven in our decisions, you know, and a lot of other things that we’re trying to do in terms of helping to develop this new culture.” In her capacity as first vice president at Aboitiz, as well as in her other roles — senior adviser for Agripreneurship at Go Negosyo, for example — Ginggay keeps her “eye on the prize” no matter what challenges come along. This “multi-disciplined, results-oriented and multi-awarded leader,” as she is described in the Women of the Future, may prefer to keep herself below the radar, but Ginggay Hontiveros-Malvar will certainly not stay unnoticed. The post Ginggay Hontiveros-Malvar: Scaling the realms of social responsibility appeared first on Daily Tribune......»»
Infrastructure crisis
Without infrastructure — including “info-structure” — there can be no development. And without development support, many developing countries will be starved of the infrastructure they desperately need. Infrastructure is the foundation of everyday life for people and economies. From drinking water and basic sanitation, to electricity, connectivity and Internet access. From public services like schools and hospitals, to modern roads, bridges, tunnels, harbors and railways that keep people and goods moving. And yet, billions in the developing world lack access to these basic systems. This infrastructure crisis comes as people are facing a cauldron of challenges across our efforts to advance peace, sustainable development and human rights. This includes soaring costs of living, rising inequalities and the existential threat of climate breakdown. Meanwhile, progress on the Sustainable Development Goals and the Paris Agreement is slipping into reverse. We must find and fund ways to generate economic growth, create decent jobs, transform energy systems and advance sustainable solutions for the 21st century. Infrastructure is a crucial pathway. We can and must turn the infrastructure emergency into the infrastructure opportunity. The Belt and Road demonstrates that we have a historic opportunity to build modern, green cities, communities and transportation and power systems that place resilience and sustainability at the heart. That deliver services and decent jobs for people in a sustainable manner. And I see the Belt and Road Initiative’s potential to make valuable contributions in two key areas of action. First — by advancing economic sustainability in developing countries. Many developing countries are confronting dramatic financial challenges, drowning in debt and without fiscal space to implement the sustainable development goals. It is time to make the global financial architecture truly global and fit for the 21st century. At last month’s SDG Summit, world leaders endorsed a commitment to reforming the global financial architecture to make it reflect the world economy of today, not the one of 1945. Leaders also agreed that we can take actions right now to promote effective debt relief mechanisms — including by ensuring that countries are not locked into unsustainable debt — and channeling emergency financial support toward those countries that need it most. And leaders also supported an SDG Stimulus of $500 billion per year. Now, in this context, a dramatic context for the developing countries, the relevance of the Belt and Road Initiative is undeniable. It has included nearly $1 trillion in cumulative investments across more than 3,000 projects around the world. The second key area for action is by advancing environmental sustainability. The Belt and Road Initiative recognizes that infrastructure for infrastructure’s sake is not enough. The Belt and Road is an important instrument to make key investments a reality, driven by clear domestic demand, and in line with international best practices. Investments that enable resilience and adaptation across national and local planning. Investments that can help keep our 1.5-degree global warming limit within reach. And investments that don’t leave countries with stranded assets and the polluted dead ends of the past. Many developing countries are confronting dramatic financial challenges, drowning in debt and without fiscal space to implement the sustainable development goals. It is time to make the global financial architecture truly global and fit for the 21st century. I recognize the efforts of the Green Silk Road initiative to anchor investments in sustainable solutions — an area in which the UN is poised to support. But developing countries will need massive support for a fair, equitable and just energy transition towards renewables while providing affordable electricity to all. We all agree that development cannot come at the expense of the air we breathe, the water we drink or the biodiversity that defines our planet’s health. *** Excerpts from the UN Secretary General’s remarks at the 3rd Belt and Road Forum for International Cooperation, 18 October 2023. The post Infrastructure crisis appeared first on Daily Tribune......»»