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Aviation decarbonization needs gov’t backing
The aviation sector, poised to become a major economic growth driver, is one of the main contributors to global carbon emissions. Industry players are, thus, rushing to decarbonize their operations by using sustainable aviation fuel or SAF. However, Cebu Pacific Chief Strategy Officer Alex Reyes argued that the initiative needs government support before it can fully take off. For instance, he said government partners could "put in the proper incentives so that more capital flows into this vital industry." “There needs to be a coordinated effort throughout the complicated supply chain of aviation to achieve these investments, to get all these massive amounts of SAF refineries,” Reyes said at a recent aviation forum. "If everyone can put SAF on top of their agenda, it all brings us to a much better place for the entire aviation sector," he added. Cebu Pacific was the first low-cost carrier in Southeast Asia to incorporate SAF into its operations when it took delivery of its third A330NEO in May last year. CEB is scheduled to receive 21 aircraft deliveries this year, 17 of which are new engine options or NEOs, while four are current engine options or CEOs on short-term leases. The airline aims to shift to a more fuel-efficient, all-NEO fleet by 2028. It also aims to utilize SAF by launching green routes by 2025 and using SAF for its entire network by 2030. SAF is an environmentally sustainable and chemically identical alternative to fossil fuel-based aviation fuel. It can be processed from plant and used oil feedstock such as forestry and agricultural waste and used vegetable oils. It does not require any adaptations to the aircraft or engines and does not have any negative impact on performance. Using SAF results in up to 80 percent reduction in carbon emissions across the fuel’s lifecycle. Locally, one potential feedstock for SAF is coconut oil or CNO, which is also used for biodiesel production. Last February, the DOE reportedly met with the Civil Aviation Authority of the Philippines, the Philippine National Oil Company, and the European Aviation Safety Agency or EASA to discuss the potential advantage of exploring SAF in the country in compliance with the Carbon Offsetting and Reduction Scheme for International Aviation or CORSIA by 2027. Cebu Pacific Chief Executive Officer Michael Szucs also recently conveyed the Philippines' strategic position to serve more domestic and international passengers. “The Philippines has a moment here with this young middle class, increasing the wealth of the nation but also wanting to travel. We are strategically placed within the ASEAN region to be a hub, allowing more connectivity between all the people in this region,” Szucs said. “The growth story is impressive and consistent, and the tourism potential here is massive. This is the moment; this is the opportunity to get back. Now is our time to get back to that pedestal, to that very top,” he added. Cebu Pacific currently flies to 35 domestic and 24 international destinations spread across Asia, Australia, and the Middle East. The post Aviation decarbonization needs gov’t backing appeared first on Daily Tribune......»»
DOJ to help 400 Filipino job-seekers duped in Italy
Justice Secretary Jesus Crispin Remulla yesterday assured the 400 Filipinos allegedly victimized by an Italy-based immigration consultancy firm that the Department of Justice will take the necessary steps to help them. “Affidavits will be taken so they can properly complain and put together a case. Whatever it is, we will help them draw out the truth,” said Remulla, adding that he has assigned Chief State Counsel Dennis Chan "to come up with a few draft affidavits so we can assist these people para di na sila maghahanap ng abogado.” Earlier, some 400 Filipinos who said they were duped into shelling out large sums of money in exchange for employment opportunities in Italy found an ally in Senator Risa Hontiveros who filed a resolution Wednesday calling for an investigation into the alleged recruitment scam. The Daily Tribune has run a series on the alleged scam by Alpha Assistenza SRL, an Italy-based immigration consultancy firm. In Senate Resolution 814, Hontiveros detailed the alleged fraudulent scheme of the immigration consultancy firm that preyed on Filipinos dreaming of working in the European country. “It is alleged that Alpha Assistenza SRL provided over 400 Filipino 'victims' with falsified Nulla Osta, a document issued by Italian immigration authorities authorizing a non-European Union national to apply for a work visa at an Italian embassy or consulate,” the resolution read. “The falsified Nulla Osta resulted in the rejection of the victims’ applications when the said documents were presented to the Italy Visa Application Center (VIA PIASI Center),” it added. The senator said the Filipino applicants were met at the VIA PIASI Center located in Makati City by a Philippine agent designated in electronic messages by Krizelle Respicio, Alpha Assistenza SRL’s chief executive officer and immigration consultant. She said the State is mandated by the Constitution to afford full protection to laborers, both local and overseas, organized and unorganized, and to promote full employment and equality of employment opportunities for all. Hontiveros added: “Because of the principle of territoriality, our statutes are generally only effective within Philippine territory; and there is thus an urgent need to protect Filipinos from possible recruitment perpetuated by companies based overseas.” In an interview on Daily Tribune's digital show "Usapang OFW" last week, several complainants, namely Vanessa Antonio, Enrique Catilo and Apple Cabasis, said Alpha Assistenza SRL headed by Filipino co-CEOs Krizelle Respicio and Frederick Dutaro may have duped more than 400 Filipinos. They also accused Consul General Elmer Cato of ignoring their grievances against Alpha Assistenza SRL. The post DOJ to help 400 Filipino job-seekers duped in Italy appeared first on Daily Tribune......»»
Alleged recruitment scam in Italy reaches Senate
The alleged recruitment scam, facilitated by the Italy-based immigration consultancy firm, Alpha Assistenza SRL, has already reached the Senate. In filing proposed Senate Resolution No. 814, Senator Risa Hontiveros called for an investigation, in aid of legislation, into the alleged recruitment activities conducted by the Alpha Assistenza SRL. In her resolution, Hontiveros detailed the alleged fraudulent scheme of the immigration consultancy firm which has preyed on Filipinos who are dreaming of working in Italy, which was first exposed by the Daily Tribune. “It is alleged that Alpha Assistenza SRL provided over 400 Filipino “victims” with falsified Nulla Osta, a document issued by Italian immigration authorities authorizing a non-European Union national to apply for a work visa at an Italian embassy or consulate,” the resolution read. “The falsified Nulla Osta resulted in the rejection of the victims’ applications when the said documents were presented to the Italy Visa Application Center (VIA PIASI Center),” it added. She continued: “The Filipino applicants were met at the VIA PIASI Center located in Makati City by a Philippine agent designated in electronic messages by Krizelle Respicio, Alpha Assistenza SRL’s Chief Executive Officer and Immigration Consultant.” Hontiveros also said that the “complainants alleged that they had paid the company ‘large sums of money’ to facilitate their relatives’ travel to Italy for work.” “The State is mandated by the Constitution to afford full protection to laborers, both local and overseas, organized and unorganized, and to promote full employment and equality of employment opportunities for all,” she said. “Because of the principle of territoriality, our statutes are generally only effective within Philippine territory; and there is thus an urgent need to protect Filipinos from possible recruitment perpetuated by companies based overseas,” she added. ‘Aware’ Meanwhile, the Department of Foreign Affairs said it is aware of the alleged recruitment scam that victimized at least 400 Filipinos both from the Philippines and Italy. In an interview with Daily Tribune, DFA spokesperson Teresita Daza denied the alleged non-action of the Philippine Consulate General in Milan in the victim’s complaints against the supposed scam. “The DFA is aware of the reports,” Daza said. “The Philippine Consulate General in Milan is acting on the complaints.” Victims, who reached out to the Daily Tribune’s digital program, “Usapang OFW,” accused Consul General Elmer Cato of sitting on their complaints against Alpha Assistenza SRL. Daza said the number of victims of the alleged recruitment scam may be higher or lower than the previously reported 400 Filipinos. “The numbers are still being verified,” she said. In a recent interview over the Usapang OFW, the complainants, namely, Vanessa Antonio, Enrique Catilo, and Apple Cabasis, said that the Alpha Assistenza, headed by its Filipino co-CEOs Krizelle Respicio and Frederick Dutaro, may have duped more than 400 Filipinos. DFA Undersecretary for Migrant Workers’ Affairs Eduardo de Vega also denied allegations that Cato had sat on the Filipino communities’ complaints. De Vega said the Philippine Consulate General in Milan received a report on 31 August, and an investigation into the matter is ongoing. “They were interviewing victims and working on cases,” he said in a separate interview. Asked if the DFA is considering making Cato inhibited due to the accusations of the victims, De Vega said: “We are meeting him personally.” The DFA official also noted that they are coordinating with the Department of Migrant Workers and the Migrant Workers Office in Milan on how to proceed with the case. “The complaint is really to be filed with Italian authorities but our Consulate in Milan should assist them,” he said. The Daily Tribune has sought comments from the Italian Embassy in Manila but they had yet to respond as of press time. The post Alleged recruitment scam in Italy reaches Senate appeared first on Daily Tribune......»»
Hontiveros comes to aid of Alpha 400
The more or less 400 Filipinos duped into shelling out large sums of money in exchange for employment opportunities in Italy, found an ally in Senator Risa Hontiveros who filed a resolution Wednesday calling for an investigation into the alleged recruitment scam. Less than a week into a series ran by the DAILY TRIBUNE on the reported scam of Alpha Assistenza SRL, an Italy-based immigration consultancy firm, Hontiveros filed Senate Resolution 814 detailing the alleged fraudulent scheme of the immigration consultancy firm that preyed on Filipinos who dream of working in the European country. “It is alleged that Alpha Assistenza SRL provided over 400 Filipino “victims” with falsified Nulla Osta, a document issued by Italian immigration authorities authorizing a non-European Union national to apply for a work visa at an Italian embassy or consulate,” the resolution read. “The falsified Nulla Osta resulted in the rejection of the victims’ applications when the said documents were presented to the Italy Visa Application Center (VIA PIASI Center),” it added. According to Hontiveros, the Filipino applicants were met at the VIA PIASI Center located in Makati City by a Philippine agent designated in electronic messages by Krizelle Respicio, Alpha Assistenza SRL’s Chief Executive Officer and Immigration Consultant. “The State is mandated by the Constitution to afford full protection to laborers, both local and overseas, organized and unorganized, and to promote full employment and equality of employment opportunities for all,” she said. She added: “Because of the principle of territoriality, our statutes are generally only effective within Philippine territory; and there is thus an urgent need to protect Filipinos from possible recruitment perpetuated by companies based overseas.” ‘Aware’ Meanwhile, the Department of Foreign Affairs on Wednesday said it is aware of the alleged recruitment scam that victimized at least 400 Filipinos from the Philippines and Italy. In an interview, DFA spokesperson Teresita Daza said the number of victims of the alleged recruitment scam may be higher or lower than the previously reported 400 Filipinos. “The numbers are still being verified,” she said, denying alleged non-action against the supposed scam. For the hundreds of victims it does not help to hear the same tune and prompt action is the only way to address their hopelessness. It was the snail-paced efforts of the Philippine Consulate in Milan, Italy, that they sought Italian police assistance after the Consulate’s inaction to their complaints submitted in May 2023. Several victims, who reached out to the Daily Tribune’s digital program, “Usapang OFW,” accused Consul General Elmer Cato of sitting on their complaints against Alpha Assistenza SRL, an Italy-based immigration consultancy firm that allegedly preyed on Filipinos who are dreaming of working in Italy. In an interview over the Usapang OFW last week, several complainants, namely, Vanessa Antonio, Enrique Catilo, and Apple Cabasis, said the Alpha Assistenza SRL, headed by Filipino co-CEOs Krizelle Respicio and Frederick Dutaro, may have duped more than 400 Filipinos. They accused Consul General Elmer Cato of neglecting their grievances against Alpha Assistenza SRL. And Allan Hernandez The post Hontiveros comes to aid of Alpha 400 appeared first on Daily Tribune......»»
Aboitiz chief tracks techglomerate journey
Aboitiz Group president and CEO Sabin Aboitiz brought a wealth of knowledge and transformative leadership insights to the esteemed 21st Forbes Global CEO Conference in Singapore on 11 September. The conference, themed “Sea Change,” provided a platform for Aboitiz to share his vision and expertise as he spearheads the Aboitiz Group’s journey toward becoming the maiden techglomerate in the country. The Forbes Global CEO Conference is an annual gathering of influential leaders and visionaries who engage in insightful discussions and brainstorming sessions about the global economic landscape. Approximately 500 distinguished CEOs, thought leaders, entrepreneurs and investors attended this year’s conference to navigate the ever-evolving waves of economic transformation. Aboitiz, standing alongside notable leaders in Asia, participated in a thought-provoking panel entitled “Captains Courageous,” which explored the themes of courage and leadership. Distinguished peers His fellow panelists included Binod K. Chaudhary, chairman of CG Corp Global; Mike Federle, CEO of Forbes Media; Nuno Matos, CEO of Wealth and Personal Banking at HSBC; and Arsjad Rasjid, president director of Indika Energy and chairman of the Indonesian Chamber of Commerce and Industry. The panel conversation delved into the intricacies of courage and leadership, offering profound insights into the mindset of successful CEOs and the principles that have shaped their illustrious careers. Forbes assistant managing editor Diane Brady posed thought-provoking questions encouraging panelists to share their most courageous decisions, reflect on moments when their courage faltered, and acknowledge the influential leaders who have guided their paths. Drawing upon his extensive and exemplary leadership experience across various roles and companies within the Aboitiz Group, Aboitiz imparted invaluable wisdom on the concept of courage. He emphasized that courage takes on different meanings depending on individual circumstances and available options. “Courage means different things to different people depending on who they are or what situation they’re in,” Aboitiz stated. “Just like being generous means different things to different people. Courage is what you’re willing to give up, depending on the situation you’re in. If you’ve got lots of options, then frankly, you’re not that courageous. If you have no options, the more you have to lose, the more courageous you are,” he added. Following his engaging participation in the high-profile conference, Aboitiz was interviewed by CNBC Asia where he provided insights on how the Aboitiz Group is embarking on its Great Transformation journey. There was also huge interest in the recent partnership of Aboitiz Equity Ventures Inc. with Coca-Cola Europacific Partners PLC to acquire Coca-Cola Beverages Philippines Inc. for $1.8 billion. It will be a joint venture where CCEP would be the majority owner at 60 percent while AEV will own 40 percent. This is in line with the direction to diversify a bit more into retail. “This goes back to our strategy to move a little out of one industry which is power and diversify a little bit into retail. Coca-Cola is the best brand in the world, so we thought that it would be the best way to move into the beverage and into more retail direction to be able to balance our portfolio,” Aboitiz explained. As the lead convenor of the Private Sector Advisory Council, Aboitiz also highlighted the importance of the private sector’s involvement especially in digitizing government services which President Ferdinand “Bongbong” Marcos Jr. had been advocating. The post Aboitiz chief tracks techglomerate journey appeared first on Daily Tribune......»»
83 percent of CEOs say firms have recovered from pandemic
A majority of chief executive officers expect their companies’ revenues to be higher than pre-pandemic levels, a survey of the Management Association of the Philippines and PwC Philippines showed......»»
Poll: ‘Room for improvement’
Despite economic headwinds battering the country, most executives in the Philippines said their firms had recovered from the heavy losses from the devastation of the Covid-19 pandemic. The Philippine CEO Survey 2023 undertaken from last July to August by the Management Association of the Philippines through consulting firm PwC Philippines, asked 157 CEOs on the situation of companies they head. Some 83 percent of the chief executive officers said their organizations had rebounded from the impact of the global plague. On the other hand, 79 percent of CEOs remained positive of revenue growth in the next 12 months, while 87 percent are certain of experiencing gain within the next three years. The survey also showed CEOs were confident about the industry’s prospects for the next 12 months, with 83 percent expressing optimism. Roadblocks ahead Despite this, CEOs still consider major roadblocks in attaining progress in the coming months, namely threats from inflation, macroeconomic instability, cyber risks, and supply chain constraints. In addressing those problems, the survey said CEOs are reducing operating costs, diversifying product/service offerings, investing in upskilling and deploying technology in their operations. “Despite numerous challenges, Philippine business leaders have achieved stability and growth. Philippine business leaders have faced serious threats, but they have risen to the occasion and found new opportunities for growth through creativity and innovation. The pandemic has forced them to adapt to the changing business landscape, and they have emerged stronger and more resilient than ever before,” Benedicta “Dick” Du-Baladad, MAP president, said. The survey indicated CEOs considered that the government had performed well in infrastructure development, forging stronger relationships with other nations, and promoting foreign investments but many cited a “room for improvement.” Priorities listed The CEOs suggest that the government should prioritize improving the ease of doing business and enhancing technology and infrastructure across the country to further boost collaborations with other countries. “The government’s support is crucial in ensuring that businesses continue to thrive amid the challenges. We need to work together towards a more favorable business environment that fosters innovation and growth,” Roderick Danao, chairperson, and senior partner of Isla Lipana & Co./PwC Philippines, said. With 70 percent of CEOs doing business with international organizations, it is essential for the government to work towards deepening relationships with other nations, according to the survey. To further boost collaborations with other countries, the CEOs suggested that the government improves the ease of doing business processes (89 percent) and improve technology and infrastructure across the country (75 percent). The post Poll: ‘Room for improvement’ appeared first on Daily Tribune......»»
TIME names 100 most influential people in AI
American news magazine TIME announced its 100 most influential people in artificial intelligence on Thursday, 7 September. “What is unique about AI is also what is most feared and celebrated—its ability to match some of our own skills, and then to go further, accomplishing what humans cannot,” TIME Editor in Chief Sam Jacobs said. The inaugural TIME100 AI list recognizes individuals leading the AI innovation. The list features 43 CEOs and founders, including Elon Musk of xAI and Sam Altman of OpenAI. It also includes 41 women and nonbinary individuals, including CEO & co-founder of Humane Intelligence Rumman Chowdhury, cognitive scientist Abeba Birhane, and COO of Google DeepMind Lila Ibrahim, among others. The youngest individual recognized on the TIME100 AI list is 18-year-old Sneha Revanur of Encode Justice, while the oldest is 76-year-old Geoffrey Hinton, a former Google employee considered by many as the "godfather of artificial intelligence". “Reporting on people and influence is what TIME does best. That led us to the TIME100 AI,” Jacobs added. The post TIME names 100 most influential people in AI appeared first on Daily Tribune......»»
Application for MIF directors now open
Applications for director positions at the Maharlika Investment Corp. (MIC) have started coming in, including applications from people living outside of the country, Finance Secretary Benjamin Diokno said on Tuesday. In a television interview, Diokno said that both Filipinos and people from other countries can apply for the three independent director jobs. He also said that being a Filipino citizen is optional for people who want to be chosen from the business sector as independent directors for MIC. While foreigners can be independent directors, Diokno said that the president and chief executive officer of the MIC, who is an essential part of running and using the Maharlika Investor Fund, must be Filipino citizen. “We’re collecting recommendations. They don’t have to be Filipino citizens, but they have to have the right potential,” Diokno responded when asked whether the Marcos administration has initiated the search for potential directors. “We have already talked with some people from abroad who are interested,” he added. Under the MIF Act, the MIC’s board of directors will be made up of nine individuals. The Secretary of the Department of Finance will be the chairman by default, and the president and CEO will be the vice-chairman. The presidents and CEOs of both the Land Bank of the Philippines and the Development Bank of the Philippines will also be on the board. At the same time, it will be up to an advisory group to suggest both regular and independent members for the MIC. The two regulatory directors must be Filipino citizens and at least 35 years old. They must also have a good image and moral character. These people should also have a lot of experience and knowledge in overseeing and operating businesses and dealing with investments in both the local and global markets. Lastly, the independent directors chosen from the private sector must have a good reputation and a lot of knowledge in areas like finance, economics, investments, business management, or law. The post Application for MIF directors now open appeared first on Daily Tribune......»»
Search on for Maharlika independent directors, expats welcome
Applications for director positions at the Maharlika Investment Corp. have started coming in, including applications from people living outside of the country, Finance Secretary Benjamin Diokno said on Tuesday. In a television interview, Diokno said that both Filipinos and people from other countries can apply for the three independent director jobs. He also said that being a Filipino citizen is optional for people who want to be chosen from the business sector as independent directors for MIC. While foreigners can be independent directors, Diokno said that the president and chief executive officer of the MIC, who is an essential part of running and using the Maharlika Investment Fund, must be a Filipino citizen. “We're collecting recommendations. They don't have to be Filipino citizens, but they have to have the right potential,” Diokno responded when asked whether the Marcos administration has initiated the search for potential directors. “We have already talked with some people from abroad who are interested,” he added. Under the MIF Act, the MIC's board of directors will be made up of nine individuals. The Secretary of the Department of Finance will be the chairman by default, and the president and CEO will be the vice chairman. The presidents and CEOs of both the Landbank of the Philippines and the Development Bank of the Philippines will also be on the board. At the same time, it will be up to an advisory group to suggest both regular and independent members for the MIC. The two regulatory directors must be Filipino citizens and at least 35 years old, with good moral character and significant experience and knowledge in overseeing and operating businesses and dealing with investments in both the local and global markets. Lastly, the independent directors chosen from the private sector must have a good reputation and significant knowledge in areas like finance, economics, investments, business management or law. The post Search on for Maharlika independent directors, expats welcome appeared first on Daily Tribune......»»
Airbus A321neo is CEB’s fleet newest addition
Cebu Pacific, the Gokongwei-led budget airline, said Friday it will be receiving more aircraft deliveries this year to ramp up its operations to cater to the growing travel demand. The company welcomed its ninth aircraft delivery, a brand-new Airbus A321neo (New Engine Option), at the Ninoy Aquino International Airport on Friday. The new aircraft operated using a blended sustainable aviation fuel or SAF on its flight. “This aircraft delivery allows us to increase our operational resilience while continuing to provide safe, reliable, and affordable air travel to our passengers,” said Alex Reyes, CEB chief strategy officer. New-generation fuel-efficient aircraft “Our ongoing re-fleeting with new-generation, fuel-efficient aircraft and our continued use of sustainable aviation fuel will also help our decarbonization efforts in making the aviation industry more sustainable,” Reyes added. CEB is scheduled to receive 21 aircraft deliveries this year — of these, 17 are New Engine Options or NEOs, while four are Current Engine Options or CEOs on short-term leases. The airline aims to shift to a more fuel-efficient, all-NEO fleet by 2028. It also aims to utilize SAF by launching green routes by 2025 and using SAF for its entire network by 2030. SAF cuts 80% carbon emission SAF is a drop-in fuel with similar characteristics as conventional jet fuels. It does not require any adaptations to the aircraft or engines and does not have any negative impact on performance. The use of SAF results in up to 80 percent reduction in carbon emissions across the fuel’s lifecycle. Last month, CEB also received a brand new A320neo aircraft from Airbus’ final assembly line in Tianjin, China, powered by SAF with a blend of 41 percent. CEB became the first low-cost carrier in Southeast Asia to incorporate SAF into its operations when it took delivery of its third A330NEO in May last year. The post Airbus A321neo is CEB’s fleet newest addition appeared first on Daily Tribune......»»
Malaysian firms eye $285-M investments in Phl
On Thursday, 27 July 2023, President Ferdinand R. Marcos, Jr. together with Department of Trade and Industry Secretary Fred Pascual, attended a series of meetings with Malaysian businesses, which forms part of the President's State Visit to Malaysia. The Philippines and Malaysia have a longstanding bilateral relationship and have been trade and business partners for years. In 2022, Malaysia was the Philippines' 10th major trading partner and 11th export market. FDI net inflows from Malaysia in 2022 showed a massive increase of 505 percent as compared to the total investment value in 2021. This reflected a 17.8 percent share of the total Foreign Direct Investment inflows from ASEAN and one of the Philippines' major source of approved foreign investments in the region. During the one-on-one business meetings, five Malaysian companies signed Letters of Intent, a testament to the increasing trust and confidence of foreign companies toward the Philippines' improved business environment, which was boosted by the recent economic policy reforms of the Marcos Jr. administration. One of the five companies is Malaysian dairy company Farm Fresh Berhad, which expressed its interest to expand in the Philippines through cattle breeding intended for milk production. This investment costs $20 million and is set to commence its operations by 2028 with an estimated employment of 200 local workers. Further, the company has an ongoing construction of a 6,000 sqm dairy processing facility in Pampanga and a lease of 200 to 400 hectares of contiguous farmland intended for raising 2,000 milking cows. "We are optimistic that these signed LOIs will materialize in the coming months. It is important to understand, however, that investments are typically long-term commitments rather than immediate action. These often require careful study, planning and legal processes before they can materialize. We at the DTI remain committed to assisting them in pursuing their investment plans," said Pascual. "These investments are related to food processing, multi-service digital platforms, aviation, aviation maintenance support service, logistics, manufacturing, infrastructure, and water and wastewater treatment. We expect that these will greatly contribute to our pursuit of economic recovery and expansion in the form of 8,365 estimated jobs to be created," he added. The trade and industry chief also joined the roundtable meeting with members of the Malaysian Chamber of Commerce and the CEOs of the companies who recently signed LOIs. During the RTM, he conveyed appreciation toward Malaysian businesses for its sustained interest and confidence in the Philippines and informed them of the investment opportunities available in the Philippines for them to take advantage of. "With strong partnerships, I see many opportunities for Malaysia and the Philippines to further strengthen our ties in trade and investment. This roundtable meeting is a significant platform to guide our partnership going forward," said Pascual. Overall, the President's three-day state visit to Malaysia was able to generate a total of $285 million investment pledges from Malaysian businesses. Also present during the RTM were Philippine Ambassador to Malaysia Charles C. Jose, Foreign Affairs Secretary Enrique Manalo, Finance Secretary Benjamin Diokno, Senator Mark Villar, DOE Undersecretary Felix Fuentebella, DTI Assistant Secretary Glenn Peñaranda and representatives from the Bangsamoro Autonomous Region in Muslim Mindanao. The post Malaysian firms eye $285-M investments in Phl appeared first on Daily Tribune......»»
DENR chief to MAP: Support climate actions, sustainable communities
Department of Environment and Natural Resources Secretary Antonia Loyzaga has urged the country’s top business leaders to work with government in addressing the climate crisis and creating sustainable communities. Speaking at the general membership meeting of the Management Association of the Philippines on 14 June in Taguig City, Loyzaga pointed out that “climate action for resilience is everyone’s business.” “Our government needs partners who go beyond ESG (environmental, social and governance) and the fence lines of their operations to ensure ecosystem integrity and the resilience of communities that surround their operations,” Loyzaga told an assembly of CEOs, COOs and other top managers from the largest companies in the Philippines. The environment chief also said that the government needs “partners who go beyond compliance to achieve strategic shared values, and who are committed within their core business value cycles to going beyond just their specific contributions to GDP (gross domestic product).” Loyzaga further called on MAP members to “come forward and do your share” in tackling plastic pollution by committing to the full implementation of Republic Act 11898 or the Extended Producers Responsibility Act of 2022. “Some of you have already stepped forward and committed to work with us,” she said. The EPR law serves as the environmental policy approach and practice that requires producers to be environmentally responsible throughout the life cycle of a product, especially its post-consumer or end-of-life stage. “Among the biggest threats to the environment is our unsustainable consumption and production practices that lead to production of polluting waste. This is where our partnerships would not only be strategic but critical to our survival,” Loyzaga said. “Confronting the complex roots of the pollution on land, seas and air requires a whole of society effort that will come at a cost but will have far reaching benefits,” she added. Loyzaga said the EPR law is an opportunity to curb the destruction of ecosystems by setting targets for large enterprises to cover and divert 20 percent of the plastic waste they produce in 2022 by the end of 2023, gradually increasing this by 40 percent by 2024 and setting 10 percent targets until 80 percent can be decreased and reached by 2028 onwards. The DENR secretary stressed that investments are needed not just in diversion and collection, but also in research for the substitution of single use plastic. The post DENR chief to MAP: Support climate actions, sustainable communities appeared first on Daily Tribune......»»
Biden cuts back Asia tour as hopes rise of debt deal
Joe Biden and opposition Republican leaders on Tuesday offered hope of a deal that could avoid a catastrophic US debt default, although the president was forced to shorten an upcoming Asia tour for further crisis talks. After the latest negotiations ended without a breakthrough, Republican House speaker Kevin McCarthy told reporters there was still "a lot of work to do" to break the high-stakes standoff with Democrat Biden over the borrowing limit. But while stark differences remained, the White House said Biden was "optimistic that there is a path to a responsible, bipartisan budget agreement if both sides negotiate in good faith." And McCarthy likewise indicated he ultimately expected a deal, even if so far "nothing has been resolved." "America is the number one economy in the world. And when we get done with these negotiations, America's economy is going to be stronger," he said. The US president -- who flies to Japan on Wednesday for a G7 summit -- scrapped subsequent stops in Papua New Guinea and Australia, instead returning to Washington on Sunday. The Treasury has warned of grim consequences if the country runs out of cash to pay its bills, which would leave it unable to pay federal workers and trigger a likely surge in interest rates with knock-on effects for businesses, mortgages -- and global markets. The United States could begin defaulting on its debts "potentially as early as June 1," Treasury Secretary Janet Yellen said Monday, while the nonpartisan Congressional Budget Office has forecast June 15. The White House said Biden had directed his staff "to continue to meet daily on outstanding issues," and that he would confer with Republican leaders on his return from the G7 meetings. Republicans have continued to insist Biden agree to significant spending cuts in exchange for their support to raise the debt ceiling, ignoring Democratic calls for a "clean" increase of the borrowing limit with no strings attached. Democrats have accused Republicans of using extreme tactics to push their agenda ahead of the so-called "X-date" at which the United States starts defaulting on its debts. In a sign of growing nervousness over what would be the first-ever US debt default, more than 140 top US chief executives sent a letter to Biden and congressional leaders stressing the need for an agreement. "We strongly urge that an accord be reached quickly so that the country can avert this potentially devastating scenario," the letter signed by the CEOs from Pfizer and Morgan Stanley, among others, said. Republicans, who regained control of the House in the 2022 midterm elections, are using their newfound clout to demand cuts of $130 billion from federal agencies and programs in exchange for support for lifting the debt ceiling. This would limit spending in the 2024 fiscal year to 2022 levels. They also want to expedite domestic energy production projects, simplify the process for obtaining permits for pipelines and refineries and claw back unspent Covid relief funding. There are now only three days remaining when the House and Senate are both in session before June 1 -- the day the Treasury predicts the United States could run out of money. Some senators have acknowledged that they may have to cancel the Memorial Day recess beginning Thursday to get a deal finalized. As the X-date draws closer, Democrats in Congress have begun considering a range of alternatives, including using an arcane congressional procedure to bypass McCarthy. They've also contemplated asking Biden to invoke the 14th Amendment to raise the debt ceiling unilaterally, which some legal scholars believe would allow the Treasury to simply ignore the debt limit. But Biden has cautioned that such a move could be challenged in court and has continued to call publicly for Republicans to support a clean increase to the debt ceiling. The post Biden cuts back Asia tour as hopes rise of debt deal appeared first on Daily Tribune......»»
How Innovation and Sustainability are Shaping Tomorrow’s PH Businesses
Nowadays, businesses in the Philippines are taking advantage of recalibrating their processes and including sustainability in their core business strategies. According to PwC Philippines, 84 percent of chief executive officers (CEOs) in the country aim to raise their organizations’ spending on technology. On the other hand, over two-thirds want their companies to bolster environmental, social, […].....»»
CEOs see recovery in 3 years, says survey
A majority of chief executive officers expect the Philippine economy to bounce back from the impact of the pandemic in three years, according to a survey of the Management Association of the Philippines and PwC Philippines......»»
Aboitiz, over 1,000 CEOs join UN call for ‘Renewed Global Cooperation’ in the face of Covid-19
THE Aboitiz Group is one with the global business community in committing to ethical leadership and good governance in upholding the United Nations Sustainable Development Goals (SDGs). It urges further collaboration with the public and private sectors in the face of the ongoing Coronavirus Disease (Covid-19) pandemic. Aboitiz Group President and Chief Executive Officer (CEO) […].....»»
2020 Revenue to be Cut in Half: PH CEOs
Due to the continuous threat that the coronavirus disease 2019 (COVID-19) pandemic is presenting, Chief Executive Officers (CEOs) in the Philippines admitted that their revenue may be cut in half during the remaining months of 2020. According to a survey conducted by The Management Association of the Philippines (MAP) and PwC Philippines, 78% of the […].....»»
CEOs divided on revenue growth prospects amid hard times
The country's chief executives are divided on whether their company will see revenue growth in the next three years as the economic fallout from the coronavirus pandemic darkens their outlook for recovery, a new survey released Monday showed......»»
Church visits are allowed only until 10 p.m. – Police chief
CEBU CITY, Philippines – Church visits on Maundy Thursday will only be allowed until 10 p.m. the chief of the Cebu City police announced on Thursday, March 28. Police Colonel Ireneo B. Dalogdog, City Director of the Cebu City Police Office (CCPO) said that the public is not allowed inside religious places past 10:00 p.m......»»