We are sorry, the requested page does not exist
Final medal standings at 4th Asian Para Games
HANGZHOU, Oct. 28 (Xinhua) -- Following are the final medal standings at the 4th Asian Para Games on Saturday in Hangzhou, capital of east China's Zhejiang Province (tabulated under team, gold, silver, bronze and total): 1. China 214 167 140 521 2. Iran 44 46 41 131 3. Japan 42 49 59 150 4. South Korea 30 33 40 103 5. India 29 31 51 111 6. Indonesia 29 30 36 95 7. Thaila.....»»
Feature: Croatia sees surge in Asian migrant workers
ZAGREB, Oct. 23 (Xinhua) -- "I love (Croatian footballer) Luka Modric and when my cousin suggested that we come here, I thought it would be interesting and different," said Sivakumar Kaushan Ninthujan, a 22-year-old Sri Lankan national. Ninthujan has been a waiter in a restaurant in the Croatian capital since January. He said he is happy with the job and the salary as the restaurant provides him with food and ac.....»»
Session Road transforms to ‘Little Chinatown’
BAGUIO CITY — The Association of Baguio Chinese-Filipino Youth Inc. and the local government here is set to treat the residents and the visitors of the Summer Capital of the Philippines with a Chinese touch at the famous Session Road on 7 to 8 October 2023. This is part of the celebration of the Chinese 2023 Mid-Autumn Festival and the public will witness the “Little Chinatown Crawl” and mini Dice Game at Session Road. Baguio City Mayor Benjamin Magalong in his Executive Order 138, series of 2023 allowed the closure of Session Road for two days to vehicular traffic for the staging of the Little Chinatown. Also known as the Mooncake Festival or Lantern Festival, the Mid-Autumn Festival is a traditional East Asian festival held on the 15th day of the eighth lunar month, which usually falls in September or early October. “The Festival is a traditional and culturally significant celebration observed by Chinese communities around the world, including a sizable population of Filipino-Chinese in the City of Baguio,” said the mayor’s EO. The Baguio City Police Office is directed then to come up and implement a security and traffic management plan to reduce the road closure impact to the public as Session Road is a major route in the city. Meantime, the Baguio City Engineering Office is also asked to provide the manpower, equipment and devices for the closure of roads and rerouting of traffic. The post Session Road transforms to ‘Little Chinatown’ appeared first on Daily Tribune......»»
Indonesia launches Southeast Asia’s first high-speed rail
Indonesia launched Southeast Asia's first high-speed railway on Monday, a delayed, multibillion-dollar project backed by China that President Joko Widodo hailed as "a symbol of our modernization". With a top speed of 350 kilometers (220 miles) per hour, the bullet train "Whoosh" can get between the capital Jakarta and Bandung in 45 minutes. The 140 km journey would previously have taken about three hours by train. "The Jakarta-Bandung high-speed train marks our efficient, friendly, and integrated mass transportation system," Widodo said during a ceremony at the capital's central station. "It is a symbol of our modernization in the public transport, seamlessly connecting with other modes of transportation." Widodo said the 600-capacity train was the first high-speed rail transportation in Southeast Asia. It is part of Beijing's Belt and Road initiative -- a decade-old program of China-backed infrastructure projects. The president said the name was actually an acronym, standing for a tagline of "Waktu Hemat, Operasi Optimal, Sistem Handal" -- which in Bahasa Indonesia means "Saving time, optimal operation, reliable system". It was built by PT KCIC, which is made up of four Indonesian state companies and Beijing's China Railway International Co. The project was initially set to cost less than $5 billion and be completed by 2019. However, delays caused by construction challenges and the Covid-19 pandemic led to a surge in costs. In preparation for its opening, officials have conducted public trials for the new high-speed route. Last week, Transportation Minister Budi Karya Sumadi confirmed that the government would extend the high-speed train route from Bandung to the country's second-biggest city Surabaya. Last month, Chinese Premier Li Qiang joined Senior Minister Luhut Pandjaitan on a ride aboard the train during his Jakarta visit for summits with Southeast Asian leaders. Pandjaitan told reporters on Thursday that Widodo plans to welcome Chinese President Xi Jinping in the future to ride the train, but did not give more specifics. agn/ebe/sn/leg © Agence France-Presse The post Indonesia launches Southeast Asia’s first high-speed rail appeared first on Daily Tribune......»»
No torpedoing submarine plan
Mere days had passed after the Department of National Defense signaled a reboot of the Armed Forces of the Philippines’ Modernization Program when France and South Korea came knocking on the door to offer to develop our submarine force. For an archipelagic country like the Philippines, the versatility and stealthiness of submarines make them ideal for a variety of missions, including intelligence gathering, deterrence, and actual combat. They can, likewise, protect valuable maritime assets and patrol sea lanes without being seen. If the Philippines’ plan to acquire submarines comes to fruition, it will send a strong message to the international community that it is committed to defending its sovereignty and maritime rights, which are currently being violated with impunity by China in the West Philippine Sea. Last 14 September, French Ambassador-designate Marie Fontanel-Lassalle paid Defense Secretary Gilberto C. Teodoro Jr. an introductory call to reiterate her country’s support for a credible defensive posture by the Philippines in the Indo-Pacific region. According to reports on the meeting between the envoy and Teodoro, an offer by French defense manufacturer Naval Group to fill the Philippines’ shopping list for two to three submarines had been refreshed, including building a base for the modest fleet in Subic Bay. The Philippine Navy had previously announced that Subic Bay would be its preferred location for the submarines that the Philippines has been planning to acquire since the Ramos presidency, a push that was put on hold by the Asian financial crisis in 1997. As early as 2019, before the Covid-19 pandemic put everything on hold, Filipino naval and defense officials had reviewed and found worthy of consideration the Scorpene diesel-electric submarine manufactured by France’s Naval Group. France, however, would have to fight it out with other bidders like Spain and South Korea, with the latter stepping up its push to supply the vessels that operate primarily under water. Last week, executives from South Korean shipbuilder Hanwha Ocean were in Manila to make a formal pitch for their newest Jang Bogo-III submarine. The Korean offer, like France’s, was a mere update, at the center of which is a 77-meter, 2,800-ton diesel-electric submarine with a beam of 9.7 meters. It boasts the latest propulsion system and lithium-ion battery technology that would allow it to operate longer. Of course, acquiring submarines is not a cheap proposition. However, it is a necessary investment for the Philippines’ national security. Experts have maintained that, in the long run, it will be cheaper to build a submarine force than to maintain a large surface fleet. As Teodoro moves for the “re-horizoning” of the AFP Modernization Program, the Marcos administration may want to start from scratch any negotiations for military equipment that had been made during the two previous administrations. That is as it should be as the Philippines must choose the best updated and re-priced proposals from several countries. As the submarine acquisition will demand a huge capital outlay, it is a must that the country shops wisely, not necessarily for the cheapest, but for what would fill its strategic and defensive needs. The acquisition process should be fully transparent and fair as it would involve taxpayer money, if not more foreign loans. The acquisition of submarines — just like the purchase of planes, ships and tanks — by the Philippines would also necessitate investments in training and infrastructure to support the new force. With increasing challenges from China in the West Philippine Sea, the Philippines is being compelled by exigencies to put into motion Horizon 3 of the AFP Modernization Program to bolster its external defense capabilities. There would be those who would oppose more military expenditures, but the Philippines, located as it is in one of the most problematic areas of the world, must be wise to prepare for its security. With the jets and surface ships that the country had procured under Horizons 1 and 2, having a few submarines is the logical next stop for a country of over 7,000 islands surrounded by water. Any decision on which submarines to acquire should be based on a thorough assessment of each proposal’s technical capabilities, cost effectiveness, and the long-term benefits they offer to the Philippine Navy. Transparency in the acquisition process is paramount to ensure that the chosen submarines meet the country’s defense needs while adhering to its budgetary constraints. The post No torpedoing submarine plan appeared first on Daily Tribune......»»
It’s imperative to rise in the Life Sciences and Global Innovation Index
Increasing and improving the quality of life sciences innovation in the country is mission-critical if we want our people to thrive and achieve a successful way of life. However, the life sciences, which include pharmaceuticals and medical technologies, is a complex sector heavily dependent on large capital due to the intensity of the research needed and the cost of development. The entire process, from research to commercialization, could take more than a decade, if not decades. Moreover, manufacturers are exposed to high risks, such as if field trials do not yield favorable results or if a product fails to meet regulatory standards. How then can we boost innovation outputs in this high risk and capital intensive sector? This was the question hanging over everyone’s head at the Asian Regional Conference in Support of Accelerated Life Sciences Innovation which IPOPHL and the World Intellectual Property Organization held earlier this September. In the Philippines, what we want is to sustain the momentum as patenting in life sciences has been growing over the years. Our data show that patent filings in the pharmaceutical sector have been growing by over 4 percent annually since 2020. Success in boosting life sciences innovation, as shown by the experiences of various countries, depends on robust incentives for research and development, a strong and balanced patent system and an effective rule of law. Another important factor is the establishment of trust among crucial players in the life sciences value chain, allowing them to collaborate and co-create. In fact, it was collaboration that paved the way for the world’s new and brave story of survival and recovery from the Covid-19 pandemic. In his opening remarks, Alejandro Campaña, senior director at WIPO’s IP for Innovators Department, highlighted collaboration as making possible the development and launch of vaccines in one and a half years, a far cry from the average 10 to 15 years. This was supported by WIPO’s patent applications data in which almost a quarter named more than one inventor as the patent holder. Rising in the GII In the Philippines, collaboration takes center stage in our innovation efforts with the creation of the National Innovation Council, created by the Philippine Innovation Act of 2019. The 25-member NIC, which IPOPHL is a member of, aims to transform Philippine innovation with more and better quality outputs. It also aims to elevate the country’s ranking in the Global Innovation Index from 59th to the top third of economies. The 16th edition of WIPO’s GII will be released on Wednesday, 27 September, during a hybrid event from 13:30 to 15:30 p.m. CEST (Geneva time). Centered on a very timely theme, “Innovation in the face of uncertainty,” the report will be discussed in greater detail in a panel discussion which will also talk about the way forward for global innovation. Aside from driving innovation in an imperative sector like the life sciences, the Philippines has been relentless in making the country’s overall innovation ecosystem more vibrant and productive. Our efforts must be reflected and justified in this next GII report where we hope to see the Philippines rise up and soar. The post It’s imperative to rise in the Life Sciences and Global Innovation Index appeared first on Daily Tribune......»»
Tolentino: Our athletes are prepared
Team Philippines will be prepared and ready to win when it marches to the 19th Asian Games that will open on Saturday at the Hangzhou Olympic Sports Center Stadium in Hangzhou, China. No less than Philippine Olympic Committee president Abraham “Bambol” Tolentino declared their readiness, saying that they will deploy the best and most prepared athletes in the prestigious quadrennial meet that got delayed by a year due to Covid pandemic. Weightlifter Hidilyn Diaz, the first Filipino to win an Olympic gold medal, will be at the helm together with other standouts like pole vaulter EJ Obiena, swimmer Kayla Sanchez, and boxers Eumir Marcial, Nesthy Petecio and Carlo Paalam. Although expectations will be tempered on the chances of Diaz as she will compete in the heavier 59-kilogram category, she is still expected to make her presence felt as she had already warmed up in the World Weightlifting Championships in Riyadh, Saudi Arabia after finishing seventh. Even the boxers will be ready as they are coming off an intensive training in India and Australia in a bid to dominate the Asian Games that will also serve as a qualifying tourney for the Paris Olympics. Tolentino said he has high hopes for the 396-man national delegation. “We are very much prepared. Some of our athletes are coming off from their training abroad,” said Tolentino, who will join Philippine Sports Commission chairman Richard “Dickie” Bachmann in leading the send-off ceremony for Team Philippines on Monday at the Philippine International Convention Center. In the previous edition of the Asian Games in Jakarta in 2018, the Filipinos finished 19th after pocketing four gold, two silver and 15 bronze medals. It was the country’s best finish since grabbing five gold medals in 1951 in New Delhi, seven gold medals in 1962 in Jakarta, eight gold medals in 1958 in Tokyo and 14 gold medals in 1954 in Manila. The first batch of Filipino athletes had already left for Hangzhou. First to leave were Olympian Cris Nievarez and the national rowing team composed of Joanie Delgaco, Tammy Sha, Feiza Lenton, Edgar Ilas, and Zuriel Sumintac with coaches Shukhrat Ganiev, Ed Maerina, Nic Jasmin and Con Fornea. The rowers will kick off their campaign in the men’s single sculls, lightweight men’s double sculls, women’s single sculls, and lightweight women’s double sculls on Wednesday at the Olympic Sports Expo Center. Also first to arrive in the bustling city in Hangzhou, the capital and most populous city in Zhejiang Province, are the staff of the national women’s football team, windsurfers and indoor and beach volleyball players. The national booters, popularly known as the Filipinas, are expected to arrive in the coming days in batches as they kick off their campaign on Tuesday. Tolentino said exceeding their performance in the previous Asian Games will already be considered as a success. “This will be the best of the team. We hope to exceed our performance for the last four years,” said Tolentino, who is pinning his hopes on Diaz as well as Asia’s best vaulter Obiena, Olympic medalists Marcial, Petecio and Paalam, and two-time Olympic medalist Sanchez. “We have high hopes for medals in weightlifting, boxing, swimming, and e-sports, with potential surprises in martial arts as well.” The post Tolentino: Our athletes are prepared appeared first on Daily Tribune......»»
Hundreds join BFAR cleanup drive
The Bureau of Fisheries and Aquatic Resources reported over the weekend that around 500 individuals joined the cleanup drive in Barangay Tanza Uno, Navotas City to mark this year’s observance of International Coastal Cleanup. BFAR National Director Demosthenes Escoto said that this year’s theme: “Clean Seas for Healthy Fisheries,” reflects the agency’s appeal for the public to cooperate in maintaining waste-free bodies of water to ensure a thriving fisheries industry, “All bodies of water are connected, so I hope we can work together for a clean and abundant ocean. I am optimistic that by working together, we can ensure that our oceans and coastal regions continue to be a source of life, inspiration, and prosperity for all,” Escoto said. He led BFAR’s central and National Capital Region offices and stakeholders from New Era High School, Asian Social Institute and Lingkod Tao-Kalikasan in the activity, held at the Marine Tree Park in Navotas. The cleanup, held concurrently with other activities worldwide as part of the celebration, was supported by the local government of Navotas City, the Department of the Interior and Local Government - NCR, and the Metropolitan Manila Development Authority-Navotas. Escoto noted that the protection of natural resources is a “matter of utmost urgency and global significance,” underscoring the importance of oceans, seas, rivers, and coastal areas for the livelihoods of Filipino fisher folk. “The livelihood of millions of our countrymen depends on our ocean. So it’s fair to say that when the ocean is clean, fishing is plentiful, and livelihoods are stable,” he said. Escoto also highlighted their commitment to ocean conservation and protection, with partner institutions expressing their support for the agency’s programs, particularly those related to coastal resource management. These include the implementation of the “Malinis at Masaganang Karagatan: The National Search for Outstanding Coastal Communities,” which incentivizes local government units demonstrating exemplary sustainable fisheries development efforts. The BFAR has also launched the “Balik Sigla sa Ilog at Lawa” or BASIL program, wherein they rehabilitate minor lakes and reservoirs located in upland and landlocked areas to restore their ecological health and bolster the populations of native and endemic fish species. The post Hundreds join BFAR cleanup drive appeared first on Daily Tribune......»»
BFAR joins coastal cleanup in Navotas
The Bureau of Fisheries and Aquatic Resources reported that around 500 individuals joined the cleanup drive in Barangay Tanza Uno, Navotas City to mark this year's observance of International Coastal Cleanup. BFAR National Director Demosthenes Escoto said that this year’s theme: “Clean Seas for Healthy Fisheries,” reflects the agency’s appeal for the public to cooperate in maintaining waste-free bodies of water to ensure a thriving fisheries industry, "All bodies of water are connected, so I hope we can work together for a clean and abundant ocean. I am optimistic that by working together, we can ensure that our oceans and coastal regions continue to be a source of life, inspiration, and prosperity for all," Escoto said. He led BFAR’s central and National Capital Region offices and stakeholders from New Era High School, Asian Social Institute, and Lingkod Tao-Kalikasan in the activity, held at the Marine Tree Park in Navotas. The cleanup, held concurrently with other activities worldwide as part of the celebration, was supported by the local government of Navotas City, the Department of the Interior and Local Government - NCR, and the Metro Manila Development Authority - Navotas. Escoto noted that the protection of natural resources is a “matter of utmost urgency and global significance,” underscoring the importance of oceans, seas, rivers, and coastal areas for the livelihoods of Filipino fisher folk. “The livelihood of millions of our countrymen depends on our ocean. So it's fair to say that when the ocean is clean, fishing is plentiful, and livelihoods are stable," he said. Escoto also highlighted their commitment to ocean conservation and protection, with partner institutions expressing their support for the agency's programs, particularly those related to coastal resource management. These include the implementation of the “Malinis at Masaganang Karagatan: The National Search for Outstanding Coastal Communities,” which incentivizes local government units to demonstrate exemplary sustainable fisheries development efforts. The BFAR has also launched the “Balik Sigla sa Ilog at Lawa” or BASIL program, wherein they rehabilitate minor lakes and reservoirs located in upland and landlocked areas to restore their ecological health and bolster the populations of native and endemic fish species. The Department of Agriculture - Bureau of Plant Industry on the other hand, together with various public and private organizations, also participated in the International Coastal Cleanup Day 2023 at the SM by the Bay Mall of Asia in Pasay City. In a social media post on Saturday, the DA-BPI said that equipped with gloves, sacks, and tongs, their volunteers eagerly picked up debris littering the coastal area, such as pet bottles, discarded clothing, torn cardboard boxes, plastics, and other waste items washed ashore. The annual event focuses not only on collecting trash washed ashore but also on raising awareness of the negative impacts of water pollution on marine life. The ICC is a global initiative to maintain and safeguard coastal ecosystems. The yearly event unifies individuals, communities, and organizations from different countries to work together to clean up and restore the coastal environments. The post BFAR joins coastal cleanup in Navotas appeared first on Daily Tribune......»»
Econ team courts Qatar’s capital
The Department of Finance, or DoF, said the government has approved four public-private partnership or PPP projects amounting to P212.8 billion and is looking forward to securing investment from a Qatar-based cooling equipment manufacturer. DoF shared the data on the PPP projects with over 70 executives of Qatar-based firms and industry associations who attended the economic team’s investor briefing at the Four Seasons Hotel in Doha, Qatar last Friday. “We believe that the Philippines’ moment has arrived. We look forward to jumpstarting the conversation today and exploring exciting investment opportunities with the Middle East business community in the coming years,” DoF Secretary Benjamin Diokno said. In its statement on Monday, DoF said approvals for more PPPs with foreign firms have been faster through liberal policies established by the previous Duterte administration and being improved by the current Marcos administration, including the Build-Operate-Transfer Law, Investment Coordination Committee Guidelines, and Joint Venture Guidelines by the National Economic and Development Authority. PPP Act under review To streamline all policies related to PPPs, DoF said lawmakers at the Senate are now evaluating the proposed Public-Private Partnership Act. For other investment measures, Diokno also discussed with the Qatar business community the Corporate Recovery and Tax Incentives for Enterprises Act or CREATE. “CREATE provides a 40-year tax incentive package for highly desirable projects or activities with a capital investment of at least $900 million or those that can create at least 10,000 jobs,” he explained. Diokno stressed this law also makes the tax system “performance-based, timebound, targeted, and transparent.” DoF said the Philippine economic team is also discussing plans with a Qatar cooling equipment manufacturer for its plant construction in the Southeast Asian country. Aside from this, the Philippine economic team sat down with executives from Qatar Insurance Company, the largest insurance company in the Arab region, and the Qatar National Bank, the largest financial institution in the Middle East country. Qatar is the third largest destination for overseas Filipino workers, with over 200,000 members there and received Philippine exports worth $59.2 million last year. The post Econ team courts Qatar’s capital appeared first on Daily Tribune......»»
RSBS revisited
All it required, inherent vulnerabilities notwithstanding, to “screw up” the Armed Forces of the Philippines-Retirement and Separation Benefits System, was a meeting of minds between the Chief of Staff of the AFP and the Secretary of National Defense. In short, it was a classic case of “partners in crime” — what one administered, the other approved. Under Presidential Decree 361, the CSAFP administered the RSBS through a board organized by himself, subject to the SND’s approval. There was a nine-man Board of Trustees that the CSAFP appointed, from its president down. PD 361 stipulated that the retirement benefits of retiring AFP personnel would be paid out of annual congressional appropriations for the AFP. Per the proviso, when the payment of retirees’ pensions exceeded P100 million in any year, the excess would be paid out of the RSBS funds. After the initial seed capital of P200 million had been given to RSBS, no further sums were appropriated/paid into RSBS. No Congress — across the terms of Presidents Corazon Aquino, Fidel Ramos and Joseph Estrada — initiated appropriations for the RSBS pension system. Since then, the retirement benefits for retiring AFP personnel were included in the regular annual appropriation for the AFP in the General Appropriations Act. Under PD 1656 dated 21 December 1979, 5 percent of the monthly base pay of AFP personnel was to be deducted as their compulsory contribution to their retirement fund. RSBS thus became an investment company mandated to “provide perpetually the cash requirement for the retirement benefits of military personnel on a self-sustaining basis.” However, the yearly cash requirement for the retirement benefits shall come from the annual general appropriation for the AFP until “perpetual self-sufficiency of the funds is attained as determined by actuarial evaluation.” The truth, however, was that the national government continued to fund the annual pension requirement for retired and retiring military members to which the RSBS contributed nothing or ever took up the burden. Apparently, the only “statutory obligation of the RSBS was to return the compulsory contributions of members of the AFP upon retirement.” What was quite strange was that RSBS was allowed to use the contributions of AFP personnel to generate investment revenues that were tax-exempt, without paying compensation for its use. It was a good thing that on 25 February 1992, a standard operating procedure provided for a “grant” of 4 percent interest per annum on members’ contributions compounded yearly effective January 1992 and it was tax-exempt. Again, effective in January 1996, the tax-exemption granted to members’ contributions was increased to 6 percent per annum compounded annually. These compulsory contributions constituted a continuing significant source of investible funds. For example, the aggregate total of members’ contributions returnable upon members’ compulsory retirement at year-end 2002 stood at P3.5 billion. However, the yearly inflow of members’ contributions in the last five years (1998 to 2002 inclusive) was around P2.5 billion. Apparently, RSBS aggressively went into real estate investment and portfolio loans to new companies. It also plunged into heavy short-term borrowing to expand these two-fold pursuits. The 1997 Asian Financial Crisis that precipitated a drop in real estate values in the country affected RSBS, resulting in losses over the years 1998 to 2001, not to mention the interest expense over the same period due to short-term borrowings which may well have run to P1.8 billion (1997 to 1999). The Senate Committees on Accountability of Public Officers and Blue Ribbon did a joint inquiry on alleged anomalies at RSBS where it was found that “very extensive real estate acquisitions by RSBS were attended by massive overpricing.” The initial report came out on 21 December 1998 and the final one on 20 May 1999. Verily, the Senate committee reports, together with the principal findings and recommendations of the fact-finding commission on the RSBS problem, were well documented and instructive to policymakers. Ideally, an AFP Service and Insurance System must be insulated from the reach of both the CSAFP and the SND, lest the vicious cycle recur. (Note. The RSBS was dissolved by Executive Order 590 on 31 December 2006.) The post RSBS revisited appeared first on Daily Tribune......»»
ERRAMON Aboitiz: Renaissance man
The Aboitiz family is a big player in Philippine business for over a century. With businesses covering a wide range of industries, including power, banking, food, and infrastructure, the clan’s Aboitiz Group has been creating jobs and opportunities for Filipinos. Founded by Paulino Aboitiz, son of a Spanish farmer who migrated to the Philippines in the late 1800s, Aboitiz Equity Ventures Inc., or AEV, has grown from being an abaca-trading and general-merchandise business to a conglomerate with interests in power, banking, food, property, biofuel and construction. The group is undergoing its Great Transformation to establish itself as the Philippines’ pioneering techglomerate. This innovative growth strategy, powered by technology and a renewed entrepreneurial mindset, empowers the entire group to advance businesses and uplift communities. Among the driving forces propelling the Group’s business revolution is Erramon “Montxu” Aboitiz. Montxu previously served as the president and chief executive at Aboitiz Equity Ventures for 10 years from 2009 to 2019. He also briefly held the role of CEO at Aboitiz Power Corp. in 2018. Presently, he serves as a director at AEV and Endeavor Philippines and as chairman of the Board of Directors at Union Bank of the Philippines. Likewise, he serves as a board observer of the Aboitiz & Company. The Asian Institute of Management named Montxu as the new chairman of its Board of Trustees, effective from 1 September 2023. Montxu joined a respected group of successful business leaders who are dedicated to advancing the progress and welfare of Asia and its inhabitants. He was the 7th chairman of AIM, taking over from Peter Garrucho who held the position since 2017. Montxu graduated from Gonzaga University in Spokane, Washington, USA with a Bachelor of Science degree in Business Administration, majoring in Accounting and Finance. In 2011, he was awarded the Management Man of the Year by the Management Association of the Philippines and recognized as the Entrepreneur of the Year by Ernst & Young. Seven years after that, AIM awarded Montxu with an honorary doctorate in management. Social responsibility runs in Aboitiz blood The Aboitiz Foundation, the social responsibility arm of the Aboitiz Group, donated $10 million to AIM in 2019 — known as the Aboitiz 100th Anniversary Commitment Fund. The fund aims to bridge the local and regional gap in data science and innovation. As a result of this generous donation, AIM’s Aboitiz School of Innovation, Technology, and Entrepreneurship is now able to provide top-notch education and research opportunities in data science, with a focus on practical applications. This is made possible by collaborating with data science professionals and leaders from around the world. Recently, Montxu was elected chairperson of the AIM board of trustees. He is widely recognized for his strong commitment to social responsibility and philanthropy. Regarding the endowment to AIM, Montxu said it targeted assisting AIM in its efforts “to expand its curriculum and facilities towards the direction of a bold future, and the skills and education it will require.” Through his leadership in the Aboitiz Group and the Aboitiz Foundation, he has spearheaded numerous projects that have made a positive impact on local communities. As chairman of the Aboitiz Foundation, Montxu has played a key role in shaping its initiatives. The foundation focuses on three key areas which are education, enterprise development, and environmental conservation. “As businessmen, there is no doubt we seek profits and a return on our capital. But as Filipinos, we are equally guided by a sense of purpose to find meaningful ways of contributing to our communities across the country. This symbiotic relationship of profit and contributing to society is our secret sauce to true sustainability, allowing the Aboitiz Group to drive change for a better world by advancing business and communities,” Montxu added. The foundation implemented various programs and scholarships to improve access to quality education, foster entrepreneurship and livelihood opportunities, and promote sustainability. Aboitiz Foundation has been heavily involved in rehabilitating and improving schools in underprivileged areas. They have renovated classrooms, libraries and other facilities, providing students with better learning environments. The foundation has also donated learning materials and equipment to enhance the educational experience of students. Aboitiz Foundation supports community-based programs that aim to uplift marginalized communities. These programs focus on various aspects such as health, nutrition, livelihood, and disaster resilience. The foundation works closely with local organizations and stakeholders to implement sustainable solutions and empower communities to become self-sufficient. Aboitiz Foundation places significant emphasis on environmental conservation and sustainability. They have initiated projects to protect and restore ecosystems, promote renewable energy, and reduce carbon footprint. The foundation actively supports reforestation efforts, marine conservation, and waste management initiatives. The foundation also has a strong focus on disaster response and preparedness. They have been at the forefront of providing immediate relief and support during natural disasters, such as typhoons, earthquakes and floods. The foundation also works towards building resilient communities by conducting disaster risk reduction and management training programs. Montxu Aboitiz encourages and supports employee volunteerism within the Aboitiz Group. The company promotes a culture of giving back by providing employees with opportunities to engage in community service and volunteer activities. This not only benefits the communities they serve but also fosters a sense of social responsibility among the employees. It also collaborates with various non-governmental organizations, government agencies, and other stakeholders to maximize the impact of their social responsibility initiatives. They work together to address complex social issues and implement sustainable solutions that create lasting change. Aligned with the United Nations Global Compact, AEV drives policies, advocacies, and initiatives to make a lasting impact. The post ERRAMON Aboitiz: Renaissance man appeared first on Daily Tribune......»»
US, Chinese and Russian officials gather at Southeast Asia summit
US Vice President Kamala Harris, Chinese Premier Li Qiang, and Russian Foreign Minister Sergei Lavrov will attend an East Asia summit in Indonesia on Thursday, offering an opportunity for direct, high-level diplomacy between the rivals. The 18-nation meeting will bring Washington and Beijing into contact a day after Premier Li Qiang warned major powers must manage their differences to avoid a "new Cold War", ahead of the G20 summit in New Delhi this week where Chinese President Xi Jinping will be absent. Interactions between the officials from the world's top two economies will be closely watched as they seek to control tensions that risk flaring anew over issues ranging from Taiwan to ties with Moscow and the competition for influence in the Pacific. "To keep differences under control, what is essential now is to oppose picking sides, to oppose bloc confrontation, and to oppose a new Cold War," Li told regional leaders on Tuesday. Harris held her own talks with Southeast Asian leaders on "the importance of upholding international law in the South China Sea", according to a statement from her office, the disputed waterway where Chinese claims have angered several Southeast Asian nations. Thursday's summit will be the first time top US and Russian officials have sat around the same table in almost two months after US and European officials condemned Lavrov at a July ministerial meeting over Russia's invasion of Ukraine. It comes as US Secretary of State Antony Blinken announced $1 billion in new assistance to Ukraine in a surprise visit to Kyiv on Wednesday. Indian Prime Minister Narendra Modi, Japanese PM Fumio Kishida, South Korean President Yoon Suk Yeol, Canada's Justin Trudeau, and Australian PM Anthony Albanese will attend the summit, as well as leaders from the Association of Southeast Asian Nations. G20 host Modi addressed ASEAN leaders on Thursday morning, telling them it is essential to "build a post-Covid rules-based world order" and make collective efforts to ensure a "free and open Indo-Pacific", using another term for the Asia-Pacific region. Thursday's talks come several months after Blinken traveled to Beijing, the first visit by the top US diplomat in nearly five years, where he met Xi as well as former foreign minister Qin Gang. - 'Broken' - The meeting was not expected to be a fiery affair despite the differences between the major powers, according to a Southeast Asian diplomat who will attend. "They will state their positions, these meetings are not tense. Especially at the leaders' level where some degree of decorum will be observed." The group will issue a negotiated joint statement after the summit. While the gathering can bring major players together, its ability to help resolve a range of regional and global disputes is limited, experts say. "It's a sign of the ASEAN convening power but lately we can say that the East Asia summit is broken. It has been turned into a forum for talking points," said Aaron Connelly, senior fellow at Singapore-based think tank IISS. While Thursday's meeting will be more geopolitical in scope, big powers used earlier talks in Jakarta to shore up alliances and lobby the Southeast Asian bloc. Li traveled on a Chinese-funded high-speed train project between the capital Jakarta and the Javan city of Bandung with a senior Indonesian minister on Wednesday. Harris held separate meetings with Indonesian President Joko Widodo and Philippine President Ferdinand Marcos Jr. -- both ASEAN members -- on the sidelines of the summit. "The Vice President reaffirmed the United States' ironclad alliance commitment to the Philippines, and highlighted the role the US-Philippines alliance plays in ensuring a free, open, and prosperous Indo-Pacific," her office said in a statement. South Korea's Yoon reportedly pushed for the bloc to counter North Korea's nuclear threats, calling for any military cooperation with the country to stop. United Nations Secretary-General Antonio Guterres will also give an address on the sidelines of the summit later on Thursday. ASEAN members are holding bilateral meetings with India, Australia, and the UN on Thursday. The post US, Chinese and Russian officials gather at Southeast Asia summit appeared first on Daily Tribune......»»
ADB, Deutsche Bank offering SME loans
The Asian Development Bank has partnered with Deutsche Bank to fund operations of small and medium enterprises or SMEs, especially those in the pharmaceutical and agriculture industries. The two banks signed an agreement to utilize ADB’s Trade and Supply Chain Finance Program and Deutsche Bank’s funds from revenues of its global network of large corporate clients to boost working capital for SMEs. “Partnering with Deutsche Bank will allow companies, particularly SMEs, to access the global supply chain which can spur economic growth and contribute to job creation,” ADB’s Director General for Private Sector Operations Suzanne Gaboury said in a statement last Tuesday. “Together, we will help smaller companies achieve growth through better access to supply chain financing. We believe this is important, as we are seeing increasing demand for this in the trade sector,” Deutsche Bank Head of Trade Finance and Lending for Asia Pacific Matthew Moodey said. The ADB said businesses demand around $2.5 trillion to sustain operations, but SMEs remain the least supported. With its partnership with Deutsche Bank, ADB said SMEs can boost trade in Asia and the Pacific, generating additional revenues amounting to over $200 million. The bank added pharmaceutical and agriculture products and services will be high in demand as the world population expands and countries prevent another pandemic and fight climate change. The post ADB, Deutsche Bank offering SME loans appeared first on Daily Tribune......»»
Handwritten letters a lifeline in war-devastated Darfur
With no cell service or phone calls, people in Sudan's war-ravaged western region of Darfur are resorting to a bygone means of communication: handwritten letters, carried by taxi drivers. Ahmed Issa, 25, sits on a plastic chair in a roadside cafe, penning a message to relatives he left behind in Nyala, the capital of South Darfur state. In the safety of El Daein, 150 kilometers (93 miles) southeast, he told AFP the letters are often the only way to get news in and out of his hometown, the second-biggest city in Sudan and the site of brutal battles between the regular army and the paramilitary Rapid Support Forces. "Even at the start of the fighting, it was hard to get in touch with people in other neighborhoods inside Nyala," he said, nearly five months after the war began. The situation has only grown worse since, with horrific violence reported across Darfur, a region the size of France that is home to around a quarter of Sudan's 48 million people. They remember all too painfully the years-long war and atrocities that began in 2003. Hundreds of thousands were killed and more than two million displaced after the government of Omar al-Bashir unleashed the Janjaweed militia in response to a rebel uprising. Hunched forward in a black patterned shirt and a neat crew cut, Issa carefully folds his letter over and over. "You wait a week for the letter to arrive, and you don't know for sure if they'll get it," he told AFP. "And if they do, there's no guarantee they can send one back" through the treacherous roads in and out of Nyala. Three months ago, the West Darfur state capital of El Geneina seemed to be the nucleus of the fighting, becoming a symbol of the return of ethnic violence in Darfur. Western countries and the UN linked the violence to the RSF and its allies. It triggered the International Criminal Court to open a new investigation into alleged war crimes. Now Nyala is the centre of clashes between the army and the RSF. On one day last week 39 civilians, most of them women and children, were killed when shelling hit their homes in Nyala, medics and witnesses said. Over 10 days in August, more than 50,000 people fled Nyala's violence, according to the United Nations. Water and electricity networks quickly failed, compounding threats in a city where one in four people already needed humanitarian aid before the war, the UN said. The messenger Residents on Sunday looked up to see a new escalation of the violence: Air Force fighter jets -- whose strikes have been largely limited to the capital Khartoum -- were flying overhead. Their bombs struck both RSF bases and the residential neighborhoods they inhabit, witnesses told AFP. People will do anything to make sure their loved ones are alright, according to human rights defender Ahmed Gouja, who left Nyala but is trying to inform the world of the gruesome violence unfolding. Last week, he reported on Twitter, which is being rebranded as X, that five entire families were "killed in one day". He himself spent 16 days "with no info" about his family in Nyala, before finally reaching "one of my brothers who arrived at El Daein, searching for an internet signal". "We die every moment that passes while we are deprived" of news of loved ones, he wrote. For weeks, Suleiman Mofaddal has seen families like Gouja's walk through his El Daein office, a small room with yellow walls, anxious for news of those who cannot or refuse to leave their homes in Nyala. On his desk sits a pile of small, neatly folded paper rectangles, each with a name scrawled in blue ink. Some have a phone number, just in case the recipient gets cell service for even a moment. All wait to be handed to drivers on Mofaddal's team, who will carry the letters on their way to Nyala. "Most often, the recipient immediately writes a response and hands it back to the driver before he leaves," Mofaddal told AFP. Then the driver heads back out, hoping the road ahead won't be closed -- by either the bombs, militia checkpoints, or the downpours of Sudan's rainy season. The post Handwritten letters a lifeline in war-devastated Darfur appeared first on Daily Tribune......»»
Philippines says ready to chair ASEAN in 2026 instead of Myanmar
The Philippines is ready to chair ASEAN in 2026 instead of Myanmar, President Ferdinand Marcos Jr said Tuesday, as the bloc wrestles with how to engage with the country's junta rulers. Myanmar has been ravaged by deadly violence since a 2021 military coup deposed Aung San Suu Kyi's government and unleashed a bloody crackdown on dissent. "It is my pleasure to announce that the Philippines is ready to take the helm and chair ASEAN in 2026," Marcos told Association of Southeast Asian Nations leaders in the Indonesian capital Jakarta. "We will fortify the foundations of our community-building and navigate ASEAN as it embarks on a new chapter," he said, according to a statement from the presidential palace. Junta spokesman Zaw Min Tun confirmed it would be replaced as chair. "Myanmar will skip ASEAN chairmanship in 2026," he told AFP, without giving further details. Marcos did not say why Manila was taking over the chair from Myanmar. However, two Southeast Asian diplomats attending the summit said the move was agreed by leaders so the crisis would not hijack the bloc's agenda and prevent "external partners" coming to Myanmar for their gatherings. "It's been decided. It was announced at the leaders' meeting and there was no objection," said one diplomat on the condition of anonymity. ASEAN wrote to the Philippines to ask if it was willing to accept the chair for that year and Manila accepted, the diplomat said. A second diplomat, who also declined to be identified, said the switch had been agreed after "leaders' assessment on the progress" of a five-point plan agreed two years ago that the junta in Myanmar has largely ignored. Laos will host next year's summit and Malaysia will chair the event in 2025. The post Philippines says ready to chair ASEAN in 2026 instead of Myanmar appeared first on Daily Tribune......»»
ASEAN+3 film festival opens in Czech Republic
PRAGUE, Sept. 1 (Xinhua) -- A film festival of ASEAN (the Association of Southeast Asian Nations) countries plus China, Japan and South Korea (ASEAN+3) opened here in the Czech capital on Friday. Eight short films from five ASEAN countries -- Indonesia, Malaysia, Myanmar, the Philippines and Vietnam -- as well as China, Japan and South Korea, were screened at the Municipal Library of Prague during the opening ce.....»»
PBBM names Rosalia de Leon as Monetary Board member
Malacañang on Saturday announced that President Ferdinand Marcos Jr. has appointed National Treasurer Rosalia de Leon as a member of the Monetary Board of the Bangko Sentral ng Pilipinas. Marcos cited de Leon’s expertise and dedication to serving the finance sector in the country. De Leon, who has served three presidents as national treasurer, played a “critical role” in developing effective borrowing strategies and implementing credit enhancements to ensure access to the most cost-effective financing options. Marcos believes de Leon’s expertise in shaping monetary policies and managing foreign reserves can contribute to the stability of the country’s banking system. "I am profoundly honored to be entrusted with this prestigious role as a Monetary Board member of the Bangko Sentral ng Pilipinas,” De Leon said. "I recognize the significant impact my decisions in this role can have on the lives of our fellow Filipinos. I am committed to working towards financial stability, fostering growth, and contributing to the overall well-being of our nation,” she added. De Leon, meanwhile, has expressed unwavering commitment to helping the country’s growth and diversification of the domestic capital market. The Palace cited de Leon’s distinguished career at the Department of Finance where she has served in various roles including director and undersecretary for the International Finance Group, as well as chief-of-staff. “As the Undersecretary for the IFG, she successfully oversaw various significant transactions, including the issuance of Global Peso Notes and several Liability Management Exercises,” the Palace said in its statement. “These exercises effectively reduced the Philippine government’s funding costs, extended maturity profiles, and converted foreign exchange liabilities into local currency,” it added. De Leon also held the role of alternate executive director at the World Bank Group in Washington DC, representing Brazil, Colombia, the Dominican Republic, Ecuador, Haiti, Panama, the Philippines, Suriname, and Trinidad and Tobago. She was also a former advisor to the executive director of the Asian Development Bank. De Leon obtained her Master of Arts in Development Economics from Williams College in Massachusetts, United States of America. The post PBBM names Rosalia de Leon as Monetary Board member appeared first on Daily Tribune......»»
Pope arrives in Mongolia to back tiny Catholic presence on China’s doorstep
Pope Francis arrived in Mongolia on Friday, beginning the first papal visit to the vast Asian nation landlocked between China and Russia. The 86-year-old pontiff's trip through Monday to the Buddhist-majority nation is a gesture of support for the tiny community of Catholics numbering about 1,400. The Argentine pontiff left Rome at 1640 GMT Thursday bound for the Mongolian capital Ulaanbaatar, arriving Friday morning local time following a nine-hour journey. He was greeted by a line of Mongolian honor guards in traditional blue, red, and yellow attire and foreign minister Batmunkh Battsetseg. Aboard the papal plane soon after take-off, Francis described the vast, sparsely populated country of Mongolia as one that "can be understood with the senses." Asked by a journalist whether he found diplomacy difficult, the pope answered: "Yes, you don't know how difficult it is. "Sometimes you need a sense of humor." The nine-hour flight passed over Chinese airspace and the pontiff, following custom, sent a telegram to President Xi Jinping, bearing "greetings of good wishes" to him and the Chinese people. "Assuring you of my prayers for the well-being of the nation, I invoke upon all of you the divine blessings of unity and peace," he wrote. The voyage -- Francis' second to the region in a year after a September trip to Kazakhstan -- is geopolitically strategic. It is seen as encouraging Mongolia's fragile democracy and potentially helping the Church make inroads with the country's more powerful neighbors. "This is a clear effort of the Holy See to take care of Central Asia and not abandon it to Russia or China," Michel Chambon, a scholar of Catholicism in Asia, told AFP. The visit -- Francis' 43rd voyage in his decade as head of the Catholic Church -- is also crucial in keeping the door open for improved Vatican ties with Beijing and Moscow, which have yet to offer the Pope an invitation. "It's a way to not give up, to remind them 'I'm here!'" Chambon said. "It's a way not to just stay in Rome and wait for things to happen but to jump in." Stamina test The trip will be a stamina test for the pope, who continues to travel widely despite undergoing a hernia operation in June and pain in his knee that has forced him to use a wheelchair. After a day of rest, the pontiff's itinerary on Saturday includes a welcome ceremony, meetings with President Ukhnaa Khurelsukh and Prime Minister Luvsannamsrai Oyun-Erdene, and a first address to authorities, diplomats, and members of civil society. He will meet the Catholic community -- which includes just 25 priests and 33 nuns, only two of them Mongolian -- later Saturday in Saints Peter and Paul Cathedral. Its circular nave resembles a "ger", the Mongolian nomads' traditional tent dwelling. The Jesuit pope addresses an interreligious meeting Sunday, where the rector of Ulaanbaatar's Russian Orthodox Church is expected to be present with a delegation, and later presides over a mass inside a newly built ice hockey arena. Pilgrims from nearby countries are expected at the mass, the Vatican said, including from Russia, China, South Korea, Thailand, Vietnam, Kazakhstan, Kyrgyzstan, and Azerbaijan. Not taking sides Once part of the empire of Genghis Khan, Mongolia is dependent on Russia for energy imports and on China for the export of its raw materials, primarily coal. But while toeing a neutral line with its powerful neighbors, it has engaged in a "third neighbor" policy, strengthening relations with other nations, including the United States, Japan, and South Korea, for balance. That makes Mongolia potentially helpful for Vatican relations with both Beijing and Moscow. The Holy See last year renewed a deal on the thorny issue of bishop appointments with China, and Francis has sought to broker an end to the war in Ukraine with Russia. Francis may use his trip to the former Soviet satellite state, a democracy since just 1992, to hammer home democratic principles. A major coal industry corruption scandal provoked street protests in December, eroding public trust amid a weak economy, high inflation, and major gaps between rich and poor. Chambon, a fellow at Singapore's Asia Research Institute, said Francis may take a page from last year's Kazakhstan visit, during which he warned authorities they have a responsibility to govern well. "The pope is not taking sides but is really putting politicians in front of their responsibilities," Chambon said. "'Who are we serving, are we honest, are we caring for the poor and marginalized, are we taking care of the entire nation in its religious and ethnic diversity?' "He plays the games but he asks the hard questions." Francis, who plans in October to publish an update to his seminal 2015 "Laudato Si'" a global call to action for the environment, will also likely bring attention to the impact of climate change on Mongolia's ecosystems. Together with mining and overgrazing, rising temperatures and their effects are fuelling desertification across swathes of the country. Severe cold, flooding and drought have killed off herds on the vast grasslands, forcing nomads who make up one-third of the population to migrate to Ulaanbaatar, now surrounded by shantytowns inhabited by displaced herders. The post Pope arrives in Mongolia to back tiny Catholic presence on China’s doorstep appeared first on Daily Tribune......»»
Even Indian lenders drawn to SBCorp’s P3
A high-ranking official of a Department of Trade and Industry-attached agency has revealed that even traditional Indian lenders based in the Philippines want to avail of the Pondo sa Pagbabago at Pag-Asenso, or P3, Program of the government. Small Business Corporation or SBCorp president and CEO Robert Bastillo made the revelation when he guested on the second Daily Tribune’s Asian Innovation Forum on Tuesday. He said half of the funds allocated to P3 are meant for cooperatives, micro-finance institutions, and private financing companies that have members that can easily access micro-entrepreneurs, particularly those who own sari-sari or small stores. “P3 was conceptualized to combat loan sharks or informal money lenders. When we visited a cooperative in a municipality in Bicol recently, we discovered that Indian lenders were now lowering their interest rate to 5 percent per month,” Bastillo said. “Surprisingly, some Indian lenders even wanted to avail themselves of our P3 program. If that is the case, it means the program has an impact,” he added. He explained that SBCorp is ready to provide funding to micro and small entrepreneurs to eventually expand operations in the long run or when banking institutions are not yet ready to provide MSE loans to them due to a lack of a banking track record. “That is why we are asking Congress to add more funds to SBCorp. The current fund is not enough to help MSMEs in their entrepreneurial journey,” he said. SBCorp estimated that there is a P300 to P400 billion financing gap in the country, which means that banking institutions, even cooperatives, and microfinancing institutions are not able to respond to the needs of MSE lenders. “We are asking for P50 billion for our total capital, including our current fund. While for the P3, we are aiming to make it a full-fledged law for it to have automatic appropriations. We aim that 10 to 15 percent of the current financing gap will be given to us, enough to serve MSEs and cooperatives, among others,” he said. In March 2023, the House of Representatives approved on third and final reading of House Bill 7363, or the proposed P3 Act, with an overwhelming 278 votes. The “P3 Act aims to provide an affordable, accessible, and simple financing program for MSEs, especially those in the poorest populations and underserved areas. HB 7363 mandates the creation of the P3 Fund, which shall be lent out to qualified MSEs under such terms and conditions that will meet the purposes of the Act. The P3 Fund shall be accessible through the SBCorp. and accredited partner financial institutions such as rural banks, thrift banks, development banks, cooperative banks, cooperatives, non-stock savings and loan associations, microfinance non-government organizations and lending companies. Currently, the P3 Program, with an annual allocation of P1.5 billion from the national government, is intended to provide micro-entrepreneurs with an alternative source of financing that is easy to access at a reasonable interest rate, that is in a safe environment away from dubious practices of informal lenders, and that is sustainable as delinquent borrowers are effectively barred from borrowing in the next loan cycle. Under the P3 Program, a microenterprise can borrow between P5,000 and P200,000, depending on its business status and repayment capacity, with no collateral requirement. Interest rates and service fees, all in, do not exceed 2.5 percent monthly. The post Even Indian lenders drawn to SBCorp’s P3 appeared first on Daily Tribune......»»