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Man using electric wire to catch fish electrocuted
Man using electric wire to catch fish electrocuted.....»»
Chip maker Intel beats earnings expectations as it pursues rivals
US chip giant Intel on Thursday said it made more money than expected in the recently ended quarter as it continued to invest in a "geographically balanced" supply chain. Intel shares jumped more than 7 percent to $34.88 in after-market trades. "We delivered a standout third quarter, underscored by across-the-board progress on our process and product roadmaps; agreements with new foundry customers, and momentum as we bring AI everywhere," said Intel chief executive Pat Gelsinger. Intel reported revenue of $14.2 billion, which was 8 percent less than the amount seen in the same quarter a year earlier but ahead of forecasts. Net income tallied $300 million, compared with $1 billion profit in the same period in 2022, earnings figures showed. "Our results exceeded expectations," said Intel chief financial officer David Zinsner, who said earnings benefited from "expense discipline." Intel has been working to catch up with rivals, especially Nvidia, when it comes to powerful chips needed to handle the computing demands of artificial intelligence. Intel touted investments being made in chip production facilities with an aim of creating a "geographically balanced, secure, resilient supply chain." California-based Intel is seen as a key tool for the United States to reduce its dependence on major global producers, such as Taiwan's TSMC. Earlier this year, Intel announced it would spend $25 billion on a new plant in Israel, with Prime Minister Benjamin Netanyahu calling it the country's single largest foreign investment. The "agreement in principle" would see the semiconductor firm build the facility in the southern city of Kiryat Gat that would open by 2027 and operate at least until 2035, Israel's finance ministry said. Intel has been operating in Israel since the 1970s with development centers and a production site that employs some 12,000 people, the finance ministry said. In 2017, Intel acquired Israel-based Mobileye, which makes technology for automated driving systems in vehicles, for just over $15 billion. Gelsinger said Intel teams have kept operations going despite the war between Israel and Hamas. "Our utmost priority is the safety and welfare of our people in Israel and their families," Gelsinger said. "Despite all of these challenges, they're performing extremely well. I am praying for a swift return to peace." China Gelsinger said Intel was carefully studying updated rules in the United States that tighten curbs on exports of state-of-the-art AI chips to China. "We do believe that we'll have plenty of opportunity in China," Gelsinger said. "We are continuing to deploy our products there broadly, even as we comply and work with (the United States) around the regulations that they're putting in place." The new rules tighten measures from a year ago that banned the sale to China of microchips crucial to manufacturing powerful AI systems. Calls to further close the supply chain grew after the popularity of generative AI platform ChatGPT. When announcing the beefed-up curbs, US Commerce Secretary Gina Raimondo insisted they were intended to close loopholes and prevent China's development of AI for military use. "It's true that AI has the potential for huge societal benefit. But it also can do tremendous and profound harm if it's in the wrong hands and in the wrong militaries," she told US media. The rules will not affect chips used in consumer goods such as laptops, smartphones, and gaming consoles, though some will be subject to export licensing requirements. China has said it is "strongly dissatisfied" and "firmly opposes" the curbs. "The US continues to generalize the concept of national security, abuse export control measures, and implement unilateral bullying," the commerce ministry said in a statement. The post Chip maker Intel beats earnings expectations as it pursues rivals appeared first on Daily Tribune......»»
BSP hikes rates6.5%, off-cycle
The Bangko Sentral ng Pilipinas on Thursday raised its policy rate on an off-cycle period to 6.5 percent from 6.25 percent to manage a likely inflation uptrend this year until July next year. The BSP has, thus far, raised its policy rate by 450 basis points after inflation peaked at 8.7 percent in January and re-accelerated again to 6.1 percent last month from 5.3 percent in August. The BSP move will increase borrowing costs, with new interest rates on the overnight deposit at 6 percent and lending facilities at 7 percent. BSP Governor Eli Remolona Jr. said the country’s inflation rate might settle at 4.7 percent next year, higher than the central bank’s previous target range of 2 percent to 4 percent for this year and 4.3 percent in the next. He added inflation might quicken further above 4.7 percent from July to March next year. “The balance of risks to the inflation outlook still leans significantly toward the upside, due mainly to the potential impact of higher transport charges, electricity rates, international oil prices, and minimum wage adjustments in areas outside the National Capital Region,” he explained. Limit spending With the higher interest rates, Remolona said consumers will likely limit their spending which will discourage businesses from raising prices. “The BSP’s Monetary Board recognized the need for this urgent monetary action to prevent supply-side price pressures from inducing additional second-round effects and further dislodging inflation expectations,” the BSP chief said. Remolona added the slow global economic recovery and effects of the weather disturbances from El Niño on food supply might also restrain consumption toward a moderated inflation. “Meanwhile, the effect of a weaker-than-expected global recovery as well as government measures to mitigate the effects of El Niño weather conditions could temper inflationary impulses,” he said. The BSP Monetary Board will again announce to the public on 16 November whether to change its policy rate in compliance with its normal cycle period happening every six weeks. However, Remolona already cautioned the public of likely controlled consumer spending in the medium term as the BSP expects to maintain high interest rates in the near future. Tighter settings “Looking ahead, the Monetary Board deems it necessary to keep monetary policy settings tighter for longer until inflationary expectations are better anchored and a sustained downward trend in inflation becomes evident,” he said. “We will consider another rate hike if things are worse than we thought,” Remolona continued. The BSP has raised its policy rate by 425 basis points after inflation peaked at 8.7 percent in January and re-accelerated again to 6.1 percent last month from 5.3 percent in August. The Philippine Statistics Authority attributed this to persisting higher food and fuel prices partly driven by global food trade restrictions and oil trade disruptions from the Russia-Ukraine war. Falls a little behind “In my view, I think we fell a little behind that’s the reason for this effort to catch up. We didn’t look closely enough at expectations,” Remolona said as he reflected on the BSP’s unchanged rate at its September 21 meeting. “One of them that was very striking was our consumer expectations survey which said about 92 percent think that in the next 12 months inflation will be above 4 percent, similar to expectations by firms,” the BSP chief continued. The post BSP hikes rates6.5%, off-cycle appeared first on Daily Tribune......»»
Lester Pimentel Ong: The ‘Iron Heart’ director is also a restaurateur
When action films came to a screeching halt around year 2000 because of piracy, then stuntman Lester Pimentel Ong bravely ventured into the food business. For him, it was like wading into untested waters. “Nagsimula ako sa (I started in) Rice-In-A box 23 years ago. I started in the film industry as a stuntman. Nakatrabaho ko si Victor Neri, sa mga films ni direk Toto Natividad. Nawala ‘yung raket namin sa stunts kasi nauso ‘yung piracy sa film. Humina ‘yung action film so wala kaming raket. (I worked with Victor Neri, in the films of director Toto Natividad. We lost our stunt jobs because film piracy became prevalent. Action films slowed down, so we didn’t have a job). With his P80,000 savings, he started his rice-in-a-box business at Masagana City Mall, in Pasay, recalled Ong during the opening of the ninth branch of Wangfu, his Chinese-Singaporean restaurant that’s been up for 11 years now. That small rice-in-a-box business now has more than 100 stores consisting of food carts and food stalls. “That business financed all of our other businesses, all our other restaurants,” said Ong proudly. A foodie, Ong was exposed to street food when he was a wushu athlete who represented the country in many competitions abroad. He reveled in the street foods of China, Hong Kong, Taiwan, Singapore and Thailand. “I would go around to different places and tuwing may break kami, we would explore the street food market ng different countries. I fell in love with different kind of food, Asian food,” he said. Wangfu came about because, after shoots, “kapag late night, wala kaming makakainan. Nasa food business naman ako, so nagtayo kami ng restaurant sa Tomas Morato. Iyon ang first branch (of Wangfu),” he said. He was joined in the venture by business partner Ace Wang. Wangfu serves Singaporean cuisine like laksa, Hainanese chicken and salted egg fried chicken. From Sir Chief to Sir Chef Actor Richard Yap is also one of Ong’s partners in Wangfu. Yap disclosed that when he was young, he “used to cook at home because my mom cooks very well.” It was his love for food that drove him to study culinary arts. But he discovered along the way that cooking was not for him. “When I took up a culinary course, I found out na hindi pala para sa akin ang pagluluto (that cooking is not for me). Ang hirap ng preparations. It takes a long time. Kung ako ang magluluto (If I will do the cooking), it will take three to four hours if you do it by yourself,” he said. In college, Yap took up a pre-Med course, Medical Technology, for two years, and then stopped because his father asked him to take up Business Management instead. When he applied for Med studies at UST, he was told that he had to go back to first year again. “I said never mind. I’ll just finish my Business Management course at La Salle,” he recalled. Getting into showbiz 12 years ago was something that Yap didn’t see coming. “When I started out with “My Binondo Girl”, after that nagdadalawang isip ako (I had second thoughts). So, I had to ask around. One of my directors, direk Jeffrey Jeturian, said, ‘You know, you have to make a choice kasi it’s either you go full-time sa showbiz or not.’” Yap’s apprehensions were not without basis, since not a lot of people would make it at his age then, around 40. “Ako, sabi ko, late na ako (I’m late), wala pa akong experience. It would take me a lot of time to catch up with veteran actors and actresses,” he said. Fortunately, those around him told him he had a future in showbiz for as long as he persevered. And that he did — and now he’s Richard Yap, a popular actor and household name, forever remembered by many as Sir Chief of the blockbuster TV series Be Careful With My Heart. The post Lester Pimentel Ong: The ‘Iron Heart’ director is also a restaurateur appeared first on Daily Tribune......»»
Ombudsman vindicates (2)
The Ombudsman was correct in his unsolicited recommendation that Audit Observation Memorandum or AOMs should not be published to prevent prejudging those involved. But AOMs with biased, political undertones and color, if released within a conspired time frame and raising issues as critical as huge Department of Health or DoH money intended to combat Covid-19 being stolen, can cause a rebellion. More than ever, these justify graft buster Martires’ anger over the publication of AOMs. Amazingly, this scenario reappeared with an almost repeat performance by the same personalities like the lady who poured out her tears over the plea bargaining agreement, Heidi Mendoza, who suddenly appeared from nowhere crying again and asking everyone to pray for the soul of her colleague, UN Auditor, Atty. Jake Cimafranca, who worked hard on the DoH report, died of a heart attack. She posted about it in time for Cimafranca’s burial. Also suddenly appearing was Grace Pulido Tan of the “kahindik-hindik (hideous)” PDAF audit report, echoing the same statement of her tandem Heidi that the release of the DoH audit report was regular and not premature. Astonishing everyone, including CoA state auditors, was the rebuff by no less than CoA Chair Michael Aguinaldo of the directive of President Duterte telling him to audit the Philippine National Red Cross. He said the CoA needed more authority to audit the PNRC. State auditors were shocked by the answer of their chief to a presidential order. Something must be cooking. And there emerged the resounding call for an immediate investigation by the senators of the Republic on the DoH’s P67.32- billion fund intended to fight Covid-19. Soon, the call for an inquiry sounded worldwide. The internet showed news flashes in the world’s capital cities of allegedly massive Department of Health funds of the Philippines intended to protect the people of the archipelago from the onslaught of Covid-19 being stolen. But former fiscal and President Rodrigo Duterte could not be intimidated. “Pure bullshit”: Duterte says CoA-flagged DoH funds not stolen. Duterte tells Cabinet secretaries to ignore CoA reports: “Nothing will happen there.” All probes against DoH “can continue,” Palace says after Duterte scores CoA. In effect, Fiscal Digong was saying, you can go on with your investigation. Catch the crooks, but do not hinder government efforts to provide our people with the supplies they need to protect them from Covid-19. Here is how it all started. The annual audit report on the accounts and financial operations of the Department of Health for the calendar year ending 31 December 2020 disclosed, among other things, the following most significant observations contained in one of the collections of AOM released as an annual audit report on 11 August 2021: “1. Various deficiencies involving some P67,323,186,570.57 worth of public funds and intended for national efforts of combatting the unprecedented scale of the Covid-19 crisis were noted. These deficiencies contributed to the challenges encountered and mixed opportunities by the DoH during the state of calamity and national emergency and cast doubts on the regularity of related transactions. “We requested that the SoH (Secretary of Health) implement the recommendations contained in the Consolidated Management Letter on the audit of Covid-19 funds for the year ending 31 December 2020 and submit a status report on the actions taken on the audit recommendations stated therein.” On 11 August 2021, the preceding observation was reported by a local stream media as a blazing headline: “CoA finds DoH lacking in managing P67.32-B Covid funds.” “The Commission on Audit found deficiencies in how the Department of Health managed the P67.32 billion fund to fight the Covid-19 pandemic, adding that it contributed to challenges that the country faced during the crisis. “CoA’s annual audit report for DoH in 2020 revealed that the deficiencies are caused by non-compliance with pertinent laws and regulations, which led to missed opportunities for the department primarily tasked with managing the pandemic.” (To be continued) The post Ombudsman vindicates (2) appeared first on Daily Tribune......»»
‘Monkey’ ID photo exposes loophole in Phl SIM card law
Philippine lawmakers have been left red-faced after an ID card bearing a photo of a "monkey" was used to breach new SIM card registration rules aimed at combatting rampant text messaging scams. Under the law signed by President Ferdinand Marcos in October 2022, mobile phone users are required to provide a photo and other personal details when buying a new SIM card. The rules also applied to tens of millions of existing users, who risked being disconnected if they did not register by the July 25 deadline. But, rather than stop spam and scam text messages, the telecom regulator told a Senate hearing this week that there had been a "sharp increase". To demonstrate how easy it was to get past telecom providers' automated vetting systems, a video showing a police officer using an ID card with a picture of a grinning "monkey" to successfully activate various SIM cards was played to exasperated senators. "You have a terrible system if you can see a monkey and yet you approve" the application, Senator Joel Villanueva told the hearing on Tuesday. Senator Grace Poe, one of the SIM card law's principal authors, lamented how text scams continued to defraud unsuspecting mobile phone users by offering fake jobs, lottery winnings, loans, and "even fake love at times". National Telecommunications Commission chief Ella Lopez said there were more than 118 million registered post-paid and pre-paid SIM cards in the Philippines. After the July deadline there was a brief drop in complaints filed to the regulator by scammed mobile users, Lopez said. Since then, however, there had been a "sharp increase", with more than 45,000 reports lodged, she said. To buy a SIM card in the Philippines, people are allowed to use one of several government-issued ID cards that do not have their biometrics. Jeremy Lotoc, cybercrime division chief of the National Bureau of Investigation, told senators that fraudsters, including online gaming operators, were hoovering up cheap SIM cards bought from unofficial sellers at 40 pesos (71 cents) each. But he said it was difficult for law enforcement to catch them. "The issue is, once you use the SIM (for a crime) and get your objective, it is discarded. So it is very difficult to find it," Lotoc said. The post ‘Monkey’ ID photo exposes loophole in Phl SIM card law appeared first on Daily Tribune......»»
LTO to boost partnership with PNP to catch online scammers
Land Transportation Office chief, Assistant Secretary Atty. Vigor Mendoza II, on Sunday, said they would strengthen their partnership with the Philippine National Police in running after online scammers who are deceiving the public. Mendoza said the LTO would meet with the PNP, especially its Anti-Cybercrime Group (ACG) office, to further enhance the measures that will eradicate the illegal activities of these online scammers. “We will enhance our partnership with the PNP-ACG to catch these scammers who are proliferating online. Talamak online itong mga grupo na nag-aalok ng tulong para mapadali umano ang pakikipag-transaksyon sa LTO gaya ng pagkuha ng student permit, lisensya o pag-renew ng sasakyan. Sa huli, nangloloko lamang sila at pineperahan lamang ang publiko,” Mendoza said. Mendoza also warned online scammers that the LTO would not stop until they are put to justice. “Hindi titigil ang LTO at iba pang ahensya ng gobyerno hangga’t hindi nahuhuli ang mga gaya ninyo na nananamantala lamang ng kapwa. We are determined to put you behind bars,” Mendoza stressed. Mendoza’s warning came after the LTO-Bicol reminded the public to be vigilant against online scammers who are asking for huge amounts of money supposedly in exchange for services. In some cases, the victim will just find out that the licenses provided by these scammers were fake, the LTO Bicol said. It noted that most of these scammers on Facebook were offering their illicit service through buy-and-sell groups. LTO-Bicol further urged netizens to report these groups, such as the ASP Manila, so the public would no longer fall victim to these illegal transactions. Mendoza, meanwhile, also encouraged netizens to be part of this fight against online scammers. “More than anyone else, kailangan ng mga awtoridad ang tulong ng publiko upang masawata natin itong mga scammers na ito na ginagamit at sinasamantala ang teknolohiya upang makapang-loko ng tao,” Mendoza said. “Huwag kayong magdalawang-isip na ireport sa LTO o sa pulisya kung may impormasyon kayong alam tungkol sa mga grupong ito,” he added. The post LTO to boost partnership with PNP to catch online scammers appeared first on Daily Tribune......»»
QC police chief urges road rage suspect to surrender
Quezon City Police District Director P/Brig. Gen. Nicolas Torre III on Sunday urged the road rage suspect, who went viral on social media for hitting a cyclist and brandishing a gun during their heated altercation at an intersection near the Welcome Rotunda area on 8 August 2023, to surrender. A concerned citizen recorded the incident on video and uploaded it on social media, earning hundreds of views and comments, including from Torre. In his comment, Torre urged the still unidentified suspect to surrender to the nearest QCPD Station and not wait for them to catch on him. "Pakidala at surrender na rin ng baril mo para di na kami mag-search warrant sa bahay mo. Baka kabahan ang SWAT ko, at makalabitan ka pa ng M16," Torre warned. The suspect appeared to be a government employee as he was wearing a blue polo shirt with a lapel pin. His red Kia car has a ULQ-802 license plate which the Land Transportation Office is now tracking to determine its owner. The cycling community condemned the suspect's arrogance for taking the bicycle lanes prompting the cyclist to avoid him, whom he sideswiped and almost lost his balance. The suspect got out of his vehicle, berated the unarmed cyclist, and drew his gun. The post QC police chief urges road rage suspect to surrender appeared first on Daily Tribune......»»
‘GDP growth is lower than expected’ — Diokno
Finance Secretary Benjamin Diokno said revising the country's gross domestic product growth target range would be probable amid the slower-than-anticipated growth observed in the second quarter. Diokno said this during his weekly press briefing as the country experienced a GDP growth of 4.3 percent in the second quarter, which was lower than the market initially expected. This resulted in a year-to-date expansion of 5.3 percent. This performance represents a decline from the previous year's 7.5 percent growth and the 6.4 percent growth recorded in the first quarter of the current year. Diokno said that reassessing the GDP target range would be considered in one of the quarterly meetings of the economic managers if achieving the current range becomes unlikely. He also mentioned that the Development Budget Coordination Committee meets at least quarterly to assess if their target range is still feasible or not. "We actively keep an eye on prices and employment. We make the necessary revisions if adjustments are required," the Finance Secretary said. Diokno underscored the need for the economy to grow by at least 6.6 percent in the latter part of the year to meet the objective, affirming that the target is still feasible. "The economic team is now focused on addressing the risks to growth, namely inflation and government underspending," Diokno stressed. The Finance Chief further explained that government underspending affected the country's economic growth and that 20 percent of the country's GDP is attributed to government expenditure. Diokno said that the country's growth rate would be higher by another 1 percent if the government agencies would increase their spending, citing a study from the Department of Budget and Management. Hence, he urged the government entities to speed up their expenditure and expedite the implementation of projects and endeavors, especially in the realm of infrastructure, in the latter part of 2023. For context, DBM issued Circular Letter 023-10 requiring several government agencies to submit their "catch-up" plans by 15 September. Circular Letter 2023-10 mandates the government entities to carry out the projects approved in the annual budget and swiftly produce outcomes to support strengthening resilient economic growth. The post ‘GDP growth is lower than expected’ — Diokno appeared first on Daily Tribune......»»
PBBM’s foreign trips major employment generator — ECOP
President Ferdinand Marcos Jr.'s foreign trips and the opening up of the economy following the coronavirus pandemic are the main drivers of the increasing employment rate in the country, Employers Confederation of the Philippines (ECOP) President Sergio Ortiz-Luis Jr. said on Friday. The ECOP chief said this in an interview during the Laging Handa Public Briefing on PTV4 as the country's employment rate in June this year reached 95.5 percent, higher than 94 percent recorded in June 2022. The industries that generated more jobs are construction, agriculture, administrative and food services, and public administration and defense on the government side, the ECOP head said. "On the other hand, the government continues to encourage investments, and the President has been on numerous trips. It wasn't expected that a significant number of investors would be brought home, but that is indeed happening," Ortiz-Luis Jr. said. "At the Philippine Chamber of Commerce and Industry, we almost have delegations that we entertain every week, inquiring, looking for partners, and exploring business opportunities due to the President's trips," he added. To help the government in increasing further the country's labor force, Ortiz-Luis said ECOP has been carrying out an advocacy campaign and forged an agreement with the Department of Labor and Employment (DOLE), the Department of Trade and Industry (DTI), manufacturers, business process outsourcing (BPO), and tourism industry to create one million jobs. "These are additional jobs, and the training and job matching that we continuously do to provide assistance. We're also addressing issues like transportation, and we're collaborating with the Department of Labor and Employment (DOLE) on how to resolve job mismatches," Ortiz-Luis said. And with the gross domestic product (GDP) growing by 5.3 percent in the first half of 2023, Ortiz-Luis attributed it to the continued opening up of the economy, suggesting, however, that the government has to boost its spending to meet its GDP growth target this year. "Our target is a high of 7 percent, 6 percent, somewhere between that range for this period. We didn't meet that. Our progress was only a slight increase, so we need to catch up," Ortiz-Luis pointed out. "One of the biggest shortcomings I see is the government's spending. The budgets of various departments remain unspent, which is understandable because of the new administration, new personnel—still learning, not yet familiar with how to utilize the funds. But perhaps they need to expedite the utilization of the budgets," he added. The Marcos government said it would accelerate spending in the coming quarters to recover the momentum following the 4.3 percent economic expansion of the country's economy in the second quarter of this year. "While government expenditure contracted by 7.1 percent in the absence of election-related spending in the first half of the year, government spending will accelerate in the coming quarters to allow us to recover our growth momentum," the administration's economic managers said in a joint statement on Thursday. The Economic Team is composed of officials from the Department of Budget and Management (DBM), Department of Finance (DOF), and the National Economic and Development Authority (NEDA), all designated as Marcos Jr.'s economic managers. The post PBBM’s foreign trips major employment generator — ECOP appeared first on Daily Tribune......»»
LTO warns public vs. individuals who pose as gov’t liaison officers
Land Transportation Office (LTO) chief Assistant Secretary Atty. Vigor Mendoza II on Sunday warned the public against individuals who are posing as liaison officers claiming they can make transcations in behalf of the government. Mendoza issued the warning after a man was nabbed in Muntinlupa City over large-scale cybercrime estafa after he allegedly posed as a government liaison coordinator for DOTr. The suspect supposedly asked for a P450,000 processing fee after claiming that he could process the LTO licensing and registration of motor vehicles needed for a franchising business. “I am reminding everyone to remain vigilant against these individuals who are pretending to be liaison officers and tricking the public for money. Maging mapanuri kayo at mag-doble ingat sa pakikipagtransaksyon upang hindi mabiktima ng ganitong mga klase ng scam,” Mendoza said. “We will not tolerate this kind of illegal activities. Alam naman ng publiko na sa mga opisina lamang ng LTO sila dapat nakikipag-transact at hindi sa kung sino-sino lamang. Marami sa ating mga kababayan ang hindi na nagdadalawang-isip sa panloloko dahil lamang sa salapi kaya dapat mag-ingat tayo,” he added. Mendoza said the LTO would work closely with security personnel to go after these individuals who are engaging in this kind of scam. In line with the directive of Transportation Secretary Jaime Bautista, Mendoza said the LTO exhaust all measures to curb this illegal act. Mendoza further called on the public to immediately report to authorities if they receive any information about this kind of activity. “Huwag kayong magdalawang-isip na lumapit sa mga awtoridad kung matanggap kayo ng impormasyon tungkol sa mga ganitong ilegal na gawain. We will do everything to catch these criminals,” Mendoza said. The post LTO warns public vs. individuals who pose as gov’t liaison officers appeared first on Daily Tribune......»»
PBBM hosts ‘casual dinner’ with senators in Malacañang
President Ferdinand Marcos Jr. hosted a “casual get-together” with senators on Wednesday night, following the upper chamber’s adoption of a resolution condemning China’s incursion in the West Philippine Sea. According to Senate President Juan Miguel “Migz” Zubiri, all members of the Senate attended the dinner at Bahay Pangulo inside of the Malacanang Compound except for Senate Minority Leader Aquilino “Koko” Pimentel; Senators Risa Hontiveros; and Francis “Chiz” Escudero. “We had a very casual and cordial dinner meeting with the President mostly just to catch up and bond with the members of the Senate,” Zubiri told reporters in a Viber message. He said that during their meal, they talked about a variety of subjects, including agriculture, the West Philippine Sea, and the recent floods in numerous areas in the country caused by Typhoon Egay. “But overall, it was a very relaxed mood and the Senators just wanted to catch up with the President,” he pointed out. In a separate interview, the Senate chief said that the president has been requesting to have dinner with senators. “The President’s been wanting to have this dinner for quite a while. It’s been a year since we started office and we’ve always said if we could host a dinner with all the senators to get together with all of them,” he said in a television interview. The post PBBM hosts ‘casual dinner’ with senators in Malacañang appeared first on Daily Tribune......»»
To catch a thief
Artificial Intelligence is now being tapped for crime prevention. Inspired by the 2002 Tom Cruise movie, “Minority Report,” about a futuristic police crime-busting technology, Japan is pilot testing a network of AI-enhanced security cameras that can detect suspicious behavior to preempt criminal activities like shoplifting and trespassing. The National Police Agency’s predictive policing cameras can also detect weapons and alert law enforcers to observe the behavior patterns of suspicious individuals in a crowd, such as fidgeting, restlessness and rapid eye movement, Daily Mail reported. The observations are inputted by the cameras’ software for better crime detection and deterrence. The result of the pilot test will be the basis for the adoption of the technology by the Japanese police. Meanwhile, business establishments can still rely on good old alarm systems for protection against crime. That’s how the VacationLand Federal Credit Union bank in Huron, Ohio, USA alerted police to a break-in on 29 July. Utility equipment — a recycling bin — also came in handy to literally catch the suspected burglar. Footage from police body cams showed Tristan J. Heidl, 27, of Huron, falling into the waiting arms of two responding officers when he exited the bank empty-handed. According to Huron Police Chief Terry Graham, the officers watched as a bag of tools was dropped through a trap door above the credit union’s drive-thru lane followed by the dangling legs of the suspect who fell into a recycling bin below the hatch, NBC News reported. Cops were waiting for the burglar, who failed to crack the bank’s safes, beside the bin. The suspect had no choice but to surrender. Heidl was charged with breaking and entering, possession of criminal tools, and safecracking, Graham said, according to NBC News. WJG @tribunephl_wjg The post To catch a thief appeared first on Daily Tribune......»»
Indian national arrested for estafa
It used to be that Indian nationals are the usual victims of estafa by their Filipino customers. Now the roles are reversed as police on Tuesday arrested a 24-year-old Indian national for estafa amounting to P200,000 in Pasay City. Southern Police District Director Brig. Gen. Roderick Mariano identified the suspect as Varun Gupta, who was collared at around 6 p.m. in a restaurant along SM by the Bay in Mall of Asia, Pasay City. However, the companion of the suspect, alias John Doe, was able to elude arrest, and is being hunted by police. In a report to Col. Froilan Uy, Pasay police chief, Gupta allegedly contacted the 48-year-old victim through the Telegram application, offering to sell his online Indian corporate bank account amounting to P200,000. Upon agreeing to buy the bank account, the victim met with the suspect at a restaurant in the mall to pay the P200,000. After the victim handed the payment to Gupta and his cohort, the suspects excused themselves to get water, but the victim followed. The suspects tried to escape while the victim chased them but was able to catch Gupta, though the other suspect escaped with the P200,000. The post Indian national arrested for estafa appeared first on Daily Tribune......»»
Microsoft, Google beat earnings expectations amid AI frenzy
Tech titans Google and Microsoft announced better-than-expected earnings on Tuesday as the frenzy over artificial intelligence stokes investor excitement and breathes new life into the sector. The release of ChatGPT last year landed as technology giants were embarking on major layoffs and cost-cutting plans, with share prices hammered after flying high during the coronavirus pandemic. For the second consecutive quarter, Microsoft has more than reversed the trend, seeing profits and sales soaring to the highest levels ever for the 48-year-old company co-founded by Bill Gates. An earnings statement reported that net profit for Microsoft was $20.1 billion in the April to June period, up 20 percent year-on-year and above expectations. The company posted $56.2 billion in sales, which also beat expectations, though the growth slowed from the previous quarter. And even though its share price slipped in after-hours trading, the Windows-maker remains the world's second most valuable company after Apple, with a market capitalization of $2.6 trillion. Once again, business in the latest quarter was driven by the cloud, which relies heavily on artificial intelligence and accounts for more than half of the company's sales. Cloud sales grew by 21 percent year-on-year. Microsoft shares lifted off last week when the company said it would charge $30 extra per user to turbocharge its Microsoft 365 product -- which includes Word, Excel and Teams -- with AI powers. "Every customer I speak with is asking not only how, but how fast they can apply next generation AI to address the biggest opportunities and challenges they face and to do so safely and responsibly," said Microsoft CEO Satya Nadella. Google parent Alphabet on Tuesday also reported profits that beat market forecasts as digital advertising revenue revived and its cloud business grew. The search engine giant reported net income of $18.7 billion on revenue of $74.6 billion in the recently ended quarter. "There's exciting momentum across our products and the company, which drove strong results this quarter," Alphabet chief executive Sundar Pichai said in an earnings release. Alphabet shares jumped more than six percent to $129.57 in after-market trades following the results. Microsoft saw its share price slip more than three percent to $337.99 as earnings showed it will take a bit of time and investment to fulfill its AI visions. "I think people got overly excited by AI, but now the reality is that it is not going to be instant," said independent analyst Rob Enderle of Enderle Group. "We are talking a few years before the full benefit starts to materialize." Brin is back While the latest talk has surrounded AI, what matters most for Google earnings currently is digital advertising -- where it gets the bulk of its revenue. The company said that advertising revenue hit $58.1 billion, which outshined analysts' expectations of $57.45 billion. Google is also a player in the cloud computing industry, where revenue came in at $8 billion, compared with $6.3 billion the unit took in during the same period a year earlier. "Our continued leadership in AI and our excellence in engineering and innovation are driving the next evolution of Search, and improving all our services," Pichai said. Google has played a close second to the partnership between Microsoft and OpenAI in rolling out its AI products following the release of ChatGPT. The company has largely been seen as playing catch up with Microsoft, with questions over whether the mighty Google search engine will withstand developments in AI. Microsoft was quick to beef up its Bing search engine with AI powers, but Google's search has yet to see a real threat to its dominance -- which remains about 90 percent of the market worldwide. Google, though not as dramatically as Microsoft, has seen its share price rise steeply in 2023 as investors expect AI to generate new revenue and open new markets. According to The Wall Street Journal, Google co-founder Sergey Brin is back at the company headquarters in California helping teams develop even more AI products. He and co-founder Larry Page stepped down from active roles at Google in 2019 when Pichai was chosen to replace them as chief executive. The post Microsoft, Google beat earnings expectations amid AI frenzy appeared first on Daily Tribune......»»
IMF raises 2023 economic outlook but warns of slowing global growth
The International Monetary Fund has slightly upgraded its outlook for world growth this year on the back of resilient service sector activity in the first quarter and a strong labor market, the lender said Tuesday. But despite the mildly better economic forecast, growth is expected to slow to three percent in 2023 and then stay there, held down by weak growth among the world's advanced economies, the IMF announced in a new report. "The global economy continues to gradually recover from the pandemic and Russia's invasion of Ukraine. But it is not yet out of the woods," IMF Chief Economist Pierre-Olivier Gourinchas said during a press conference. The growth forecast for this year was raised by 0.2 percentage points from the IMF's last estimate in April, putting the world economy on track for three percent growth in both 2023 and 2024. This is down from growth of 6.3 percent in 2021, and 3.5 percent last year, the IMF announced in its update to the World Economic Outlook (WEO). Earlier this year, the IMF published its lowest medium-term forecast since the 1990s, citing slowing population growth and the end of the era of economic catch-up by countries including China and South Korea. On Tuesday, the IMF said the global inflation picture has improved somewhat, with consumer prices now expected to increase by 6.8 percent this year, down 0.2 percentage points from April's forecast. This is largely on account of subdued inflation in China, Daniel Leigh, the head of the IMF's World Economic Studies division, told reporters on Tuesday. "This is one of the only countries in the world right now where inflation is below the target rate," he said, adding that the IMF has revised China's inflation forecast for the year down sharply to 1.1 percent. 'Resilient' US consumption The IMF has lifted its outlook for US growth this year to 1.8 percent, up 0.2 percentage points from April, citing "resilient consumption growth in the first quarter." The still-tight labor market in the world's largest economy "has supported gains in real income and a rebound in vehicle purchases," the IMF added in its report. The fund sees US growth slipping to 1.0 percent next year, as savings accumulated during the pandemic dry up and the economy loses momentum. As with the April forecast, much of global growth this year is expected to come from emerging markets and developing economies (EMDEs) like India and China, with activity in advanced economies, predicted to slow substantially this year and next. Advanced economies are now anticipated to grow by 1.5 percent this year, up 0.2 percentage points from April, and by 1.4 percent in 2024. Citing positive economic news from the United Kingdom, the IMF has lifted the country's growth forecast for 2023 to 0.4 percent, leaving Germany as the only G7 economy expected to contract this year. The news is much more positive among the EMDEs, which are forecast to grow by 4.0 percent this year, and by 4.1 percent next year. The IMF's 2023 growth forecast for China remained unchanged at 5.2 percent, although it notes there has been a change in composition, with underperformance of investment due to the country's troubled real estate sector. Alongside property sector weakness, the IMF said foreign demand remains tepid and warned of rising and elevated youth unemployment, which reached almost 21 percent in May. The IMF lifted India's 2023 growth prospects to 6.1 percent, up 0.2 percentage points from April, citing "momentum from stronger-than-expected growth in the fourth quarter of 2022 as a result of stronger domestic investment." The fund now expects Russia's economy to grow by 1.5 percent this year, an upward revision of 0.8 percentage points from April, due to stronger-than-expected economic data fueled by "a large fiscal stimulus." The IMF anticipates the Russian government's budget deficit will expand to 6.1 percent this year, up from 1.4 percent last year, according to a spokesperson. The post IMF raises 2023 economic outlook but warns of slowing global growth appeared first on Daily Tribune......»»
PBBM: ‘The solutions lie in new technologies’
President Ferdinand Marcos on Monday said the government had amended some laws to make investment more attractive in the Philippines, especially on the digitalization of the country’s economy, not only in the government but also in the private sector. The Chief Executive said this during the meeting with the American non-profit organization Business Executives for National Security in Malacañang, where the business group reaffirmed its commitment to boost the cooperation and investment of the US in terms of health, digital infrastructure and energy programs in the Philippines as part of the efforts to enhance the Philippine-US economic engagement. “We are trying to bring them into the system of digital marketing. So we put up an app for small business to be able to use,” Marcos said, referring to the “Paleng-QR Ph Plus Initiative” that aims to prop up economic activities in the Philippines. “We have encouraged all of these private NGOs who have had an interest in promoting start-ups. We are trying to create an environment that will be friendly to start-ups because we know that start-ups have higher rate of failure than other traditional businesses. So we need to be able to adjust to that new way of doing things,” he added. The President also took pride in the country’s booming business process outsourcing industry, which continued its operations during the COVID-19 pandemic in the Philippines through the so-called work-from-home scheme. “It derives from the very clear understanding that many of the challenges that we face today the solutions lie in new technologies. And that’s why the retraining and re-skilling of our people have become important because we have to get them into that line of work so that we have enough people to occupy that,” Marcos said. “Actually, the workforce is quite full when it comes to tech. But again, we need to catch up in terms of training, in terms of getting involved in the new technologies that we are seeing for many, many reasons: for the digitalization, for the climate change, for the cybersecurity,” Marcos added. For their part, members of the BENS asked the chief executive about his thoughts on business opportunities in the healthcare system in the Philippines, especially in the nursing industry. “We are groundbreaking a big multi-specialty hospital just outside Manila soon and we are going to open more of them as annex hospitals,” Marcos told the visiting group, emphasizing that the Philippine government aims to build more hospitals in far-flung areas. “I’m always been a great believer of bringing healthcare down to the grassroots level. Right now, there is a tendency for us to only go to the hospital when it is absolutely necessary... So healthcare has become an important part of this administration efforts,” he added. The President also emphasized that the Philippines became “a victim of our own success,” especially during the pandemic when many world leaders asked for the country’s help to deploy more Filipino nurses and medical practitioners abroad. “Unfortunately, in terms of healthcare workers, we have become victims of our own success in that the Filipinos did really well during the pandemic. And so every leader I meet says ‘can we have more Filipino med techs, doctors, and nurses?’ So we’re having a shortage here,” he said. “So we are trying to find schemes so as to alleviate that problem. One of the things our Department of Health has come up with is that we are coming to an arrangement with countries who will accept Filipino healthcare workers to at the same time train the equivalent number of healthcare workers that will stay in the Philippines,” he added. “We are trying to accelerate the board examinations of nurses so we can actually put out more. So that’s the adjustment that we are trying to make. So it’s not only in the facilities, it’s also in the training. We are very proud of them but we wish they’d stay home.” Marcos also told BENS that the price, reliability and supply of energy are among the problems brought up by some foreign investors in the Philippines, including problems related to the ease of doing business. The President, however, emphasized that it is something the government is working on. “The ease of doing business is something that we can do immediately about because putting up power plants no matter what kind of power plants, there are six, seven years' lead time. So maybe with the new technologies, maybe we can do better,” the chief executive said. The post PBBM: ‘The solutions lie in new technologies’ appeared first on Daily Tribune......»»
Flight from Tianjin
Top executives of Cebu Pacific Air, CEO Mike Szucs and chief strategy officer Alex Reyes, as the Gods of Mischief would have it, were literally being bombarded by lightning bolts to disrupt their flight to Beijing on that same fateful Tiananmen incident day. They were scheduled on the early morning flight to Hong Kong, where they would catch a connecting flight to Beijing and arrive in the evening to join us for our delicious Peking duck dinner......»»
25 dead after bus catches fire in India
At least 25 people were killed and eight others injured after a bus caught fire overnight on an expressway in western India on Saturday, police said. The bus was traveling to the city of Pune when it hit a pole and overturned after midnight, causing its diesel tank to catch fire, senior police officer Baburao Mahamuni told AFP. "There were about 30-35 people in the bus. Twenty-five people have died and eight others are injured," he said. The injured, including the bus driver, have been admitted to a hospital near the site of the crash in Maharashtra state, about 400 kilometers (250 miles) east of India's financial capital Mumbai. Police said they had launched an inquiry into the crash. "The priority at this moment is to identify the bodies and hand them over to their family members," local media quoted police superintendent Sunil Kadasane as saying. Images showed the bus engulfed in flames and later the charred remains of the vehicle overturned on the highway. Three children were among the dead, a police officer told reporters. "Deeply saddened by the devastating bus mishap in Buldhana," Prime Minister Narendra Modi said on Twitter. "My thoughts and prayers are with the families of those who lost their lives. May the injured recover soon." Maharashtra Chief Minister Eknath Shinde said he felt "deep grief" over the accident and pledged compensation of 500,000 rupees ($6,100) to the families of those killed. Accidents are common on India's vast network of roads, which are poorly maintained and notoriously dangerous. The main causes are excessive speed, not wearing helmets -- sales of two-wheelers far outstrip those of cars -- and not using seatbelts. India accounts for 11 percent of the global road death toll despite having just one percent of the world's vehicles, according to a World Bank report released in 2021. The same report estimated 150,000 car crash fatalities in India annually, or one person every four minutes. It added that road crashes cost the Indian economy around $75 billion each year, with medical expenses and loss of income driving many accident survivors into poverty. In May, at least 21 people died when a bus veered off a bridge in India, reportedly after the driver fell asleep at the wheel. And last October, at least 31 people were killed after a bus carrying wedding guests veered off the road and fell into a deep gorge in northern India. The post 25 dead after bus catches fire in India appeared first on Daily Tribune......»»
PBBM: Phl, China ‘slowly making progress’ on WPS
President Ferdinand Marcos Jr. on Monday said China and the Philippines are "slowly making progress" in avoiding encounters in the South China Sea due to "improved communication." Marcos made the statement in an interview after the 125th anniversary of the Department of Agriculture. A Chinese Navy vessel recently followed a Philippine Navy ship that visited Pag-asa Island in the West Philippine Sea. Marcos underscored the progress in the West Philippine Sea, saying Philippine vessels were no longer blocked by Chinese ships. "The latest report was just followed through, unlike before where it was being blocked, so there's a little progress there," the President said. "That is because we are continuing to talk to the Chinese government, President Xi (Jinping), in every way," Marcos said. Marcos further mentioned that the Bureau of Fisheries and Aquatic Resources had indicated a larger catch for Filipino fishermen due to the improved conditions in the region. During the Chief Executive's meeting with President Xi in January of this year, Marcos focused on the issue of fisheries rather than the territorial dispute concerning the West Philippine Sea. "What I really prioritized when we met was to focus on our fisheries. Let's not discuss the territory issue because we cannot decide on it while we are talking now. Let's prioritize the fisheries because, as I have been saying, the people are not at fault, so why should we punish them," Marcos said. The post PBBM: Phl, China ‘slowly making progress’ on WPS appeared first on Daily Tribune......»»