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Treasury awards P21 billion in T-bills
The government upsized the award of short-dated securities in yesterday’s auction to P21 billion as strong demand pulled down rates across the board......»»
Philippines investment board awards green lane for solar power project
MANILA, Jan. 29 (Xinhua) -- The Philippine Board of Investments has granted the green lane certificate for the floating solar power project that will soon rise in Nueva Ecija province, north of Manila, the Department of Trade and Industry (DTI) said on Monday. The Fuego Renewable Energy Corp. (FREC) will build the Pantabangan Floating Solar Power Plant, a 463.995 megawatts (MWac) floating solar photovoltaic (PV).....»»
Philippines investment board awards green lane for solar power project
MANILA, Jan. 29 (Xinhua) -- The Philippine Board of Investments has granted the green lane certificate for the floating solar power project that will soon rise in Nueva Ecija province, north of Manila, the Department of Trade and Industry (DTI) said on Monday. The Fuego Renewable Energy Corp. (FREC) will build the Pantabangan Floating Solar Power Plant, a 463.995 megawatts (MWac) floating solar photovoltaic (PV).....»»
Philippines Achieves Double Triumph at the 9th Annual TripZilla Excellence Awards 2023
For the second consecutive year, the Tourism Promotions Board (TPB) Philippines has clinched the coveted Sustainability Leader of the Year (Asia) award at the prestigious TripZilla Excellence Awards 2023. The Philippines has also been named the Destination of the Year, marking a significant milestone in its journey to tourism excellence. Hosted by TripZilla, Southeast Asia’s […].....»»
SM’s Steven Tan named Winshang’s 2023 International Influential Person in Shopping Centers
SM Supermalls president Steven Tan was recognized as one of Winshang’s Golden Censer Prize winners for being "The International Influential Person of the Year 2023 in Shopping Centers" at the 2023 China (International) Shopping Center Summit in Shanghai on 24 August 2023. The Golden Censer Prize is a large-scale professional recognition of China's commercial real estate and famous brands initiated by Winshang, in collaboration with mainstream industrial media, based on field research, data analysis and media surveys, among others. Tan, who assumed the role of President of SM Supermalls in 2020, has been a key figure in the growth and innovation of the mall chain in the Philippines and China. As president, he oversees mall operations in both countries, carrying forward SM's 65-year legacy of retail innovation and outstanding customer service. SM Mall of Asia Complex Under his leadership, SM Supermalls withstood the challenges of the pandemic and rebounded as the economy slowly opened up amid the global health crisis. With the guidance of the Sy family, Tan made sure that SM responded with an agile, innovative and proactive approach to cater to the needs of all stakeholders, from employees and tenants to shoppers. SM City Yangzhou SM City Sto. Tomas The mall’s strategies -- adapting the tenancy mix, creating novel reasons to attract visitors to malls, targeting new customer segments through innovative marketing and developing omnichannel services -- enabled them to gain the trust and loyalty of modern shoppers during the pandemic. Because of this, SM managed to recover and exceed pre-pandemic revenues and income by 2023. In line with their latest expansion program, SM continues to open new malls in China and the Philippines. This brings the total number of shopping centers, locally and internationally, under Tan's stewardship to 93, featuring a cumulative construction area of over 10.8 million square meters and a daily foot traffic of more than 4.2 million. The latest malls to open were SM City Yangzhou last 28 September 2023 and SM City Sto Tomas, Batangas last 27 October 2023. Tan’s exceptional efforts were also honored by various international organizations over the years. He received numerous accolades including the 2021 Asia's Most Influential by Tatler Asia, the 2022 Asia Pacific Women's Empowerment Principles Awards Leadership Commitment by United Nations Women, and the Global Filipino Executive of the Year at the Asian Chief Executive Officer Awards, just to name a few. His dedication and visionary leadership continue to shape the landscape of shopping centers and commercial real estate, not just in Asia but also across the globe. Steven Tan receives the 2023 PeopleAsia People of the Year Award. Tan shared the Winshang Golden Censer Prize with his two co-awardees, namely Powerlong Real Estate Holding’s Co-president Chen Deli, and SCE Commercial Management Holdings' chairman of the board Huang Lun. SM Supermalls is a subsidiary of SM Prime Holdings Inc., with 85 malls in the Philippines and 8 in China. The post SM’s Steven Tan named Winshang’s 2023 International Influential Person in Shopping Centers appeared first on Daily Tribune......»»
4 World Travel Awards titles eyed
The country’s best destinations are vying for four major awards at the prestigious World Travel Awards 2023, considered the Oscars of the travel industry.The Department of Tourism on Wednesday said the Philippines earned four nominations including its back-to-back titles as the World’s Leading Beach Destination, World’s Leading Dive Destination, and World’s Leading Island Destination.The DoT is also vying for the World’s Leading Tourist Board title.“The Philippines’ track record of excellence in the travel and tourism industry continues to earn its reputation as aworld-class destination. The nation’s nomination in four distinct categories underscores its commitment to providing travelers with unparalleled experiences,” the DoT statement said.Tourism Secretary Christina Garcia Frasco said that such nominations further recognizes the Philippines as an in-demand destination both for local and international travelers to this day. Growing global interest for Phl“We welcome these nominations that show growing global interest and love for the Philippines. With the natural beauty of our beaches, dive sites, and islands, the wealth of history, heritage, and culture, and the festivals, flavors, and adventures across our diverse regions, every tourist’s journey guarantees a lifetime of memories. Tourism employs over 5.35 million Filipinos who display such care and hospitality for our tourists that make the Philippine experience truly unforgettable,” she said.Established in 1993, the London-based WTA acknowledges excellence in the travel and tourism industry in three tiers: country, regional, and world awards across different categories. The post 4 World Travel Awards titles eyed appeared first on Daily Tribune......»»
A positive difference
“The best way to find yourself is to lose yourself in the service of others,” Mahatma Gandhi once said. Marian Wright Edelman states, “Service is the rent we pay for being. It is the very purpose of life, and not something you do in your spare time.” Two memorable statements capture the essence of Attorney Kelvin Lester Lee, hailed by Dean Antonio La Viña of Ateneo School of Government as “one of the finest and most visionary individuals to have emerged from Ateneo Law School.” It’s no surprise that Atty. Lee became a Commissioner at the Securities and Exchange Commission in 2019. While his position may be formidable, those who have met him in person can attest to his kind-hearted nature and willingness to devote his time generously. When expressing his views, he displays a remarkable level of candor, always taking the time to carefully consider his words before speaking. Aside from his sense of humor, Lee possesses a remarkable ability to engage in meaningful conversations. When he speaks, he has a way of looking directly into your eyes, underscoring the significance of his words. Even in intense situations, he maintains a calm demeanor and is known to offer a comforting smile, lightening the atmosphere. In his role as Commissioner at the SEC, Atty. Lee assumes the responsibility of overseeing various crucial departments and divisions. These include the markets and securities regulation department, the information and communications technology department, the PhiliFintech innovation office dedicated to Philippine financial technology, and the international affairs and protocol division. Moreover, he holds authority over capital markets, sustainable finance, Fintech and information technology, and international affairs, ensuring their effective management and implementation. While the enormity of those tasks might induce vertigo in most individuals, Atty. Lee remains unfazed. “It is perhaps the best job I have ever had,” he admitted. “I enjoy making a positive change in the sector I am handling. I enjoy pushing innovations and encouraging improvements in the financial sector and capital markets.” With great responsibility, Lee adopts a heightened level of caution. Recognizing the potential impact of his words, he expressed the need to exercise carefulness in his public statements, as any statement he makes can influence the stock market. This awareness underscores his commitment to acting with prudence and considering the far-reaching implications of his words. Let’s delve into the life of Lee, who began his journey in the humble city of Davao, his birthplace. He embarked on his educational path at the Ateneo de Davao University for his grade school education, followed by his enrollment at Davao Central High School, then called Davao Chinese High School. After completing his schooling in Davao, he ventured to Beijing, China, where he pursued studies in the Chinese language and gained work experience with a foreign company. However, after two years, he returned to the Philippines and enrolled in Ateneo de Manila University to pursue a law degree. This journey showcases his diverse experiences and the foundation of his educational and cultural background. “The Ateneo de Manila entrance exam was the only one I could take that year when I came back from China,” he said, adding that he never dreamed of becoming a lawyer. “I just wanted to give it a try. And found I was a surprisingly good fit for it.” As a lawyer, he has five ideal lawyers. Only one is a foreigner: Sir Thomas Moore, an English lawyer, social philosopher, author, and statesman whom Roman Catholics venerated as Saint Thomas More. “He stood by his faith and principles,” he said. Fresh from hurdling the Bar exam, he worked at the Siguion-Reyna Montecillo and Ongsiako law firm, where he learned the importance of being enterprising and putting in a diligent effort to succeed. However, despite his professional growth, he decided to quit and return to his hometown of Davao, placing the deeply rooted value on family and prioritizing personal and familial responsibilities above career pursuits. As a father to two daughters, Atty. Lee expressed that fatherhood has had a profound impact on him, bringing about significant changes. He considers it one of the greatest blessings he could ever receive. According to him, the love that his children show him is genuine and unmatched. He believes that the love of young children is unparalleled. Experiencing this level of love is indescribable, knowing someone loves you unconditionally. This extraordinary bond makes fatherhood one of the most precious and fulfilling aspects of his life. “The love your kids show you is real,” he said. “You will never be as loved as you are by your young children. There is no feeling quite like it to know that someone loves you as much as that. That’s what makes it one of the best things.” Working in government “It is an honor to serve. Very few people get an opportunity to help the country and serve the president and the people,” said Lee, who is a former assistant secretary at the Office of the Executive Secretary in Malacañang, where he was also designated to sit on the Board of the Subic Bay Metropolitan Authority. Atty. Lee’s dedication to public service earned him well-deserved recognition in his field. In March this year, he received two international accolades for his role in driving the advancement of financial technology in the Philippine business sector, highlighting his visionary thinking and influential impact solidifying his reputation as a trailblazer in the field. In the 10th annual Asia-Pacific Stevie Awards, Lee was bestowed the Gold Stevie award for his outstanding contributions as a Thought Leader of the Year. These awards celebrate workplace innovation across all 29 countries in the Asia-Pacific region. From a vast pool of over 800 regional nominations, winners were selected in various categories, including the Award for Excellence in Innovation in Products & Services, the Award for Innovative Management, and the Award for Innovation in Corporate Websites, among others. “It feels great. It’s always wonderful to be recognized for all the hard work and changes you pursue at a government agency. And I was quite surprised to get the Gold Stevie Award, the highest level of the award for thought leadership. I feel so honored!” In the next decade, Atty. Lee, now 44, envisions continuing his career in law, possibly incorporating elements of technology, and hopes to stay actively involved in government work and make a significant impact by fostering meaningful transformation. “Working in government can be quite fulfilling. I encourage young lawyers and professionals to enter the arena and work in government to try and make a positive difference.” The post A positive difference appeared first on Daily Tribune......»»
Meralco receives 3 Golden Arrow awards for outstanding good governance
Recognizing its remarkable corporate governance practices, the Manila Electric Company has once again received a three-arrow recognition from the Institute of Corporate Directors during the Golden Arrow Awards held on 28 September. The prestigious accolade came as a result of Meralco’s outstanding performance in the 2022 ASEAN Corporate Governance Scorecard assessment, reflecting the company’s conformance with the Philippine Securities and Exchange Commission’s Code of Corporate Governance for Publicly-Listed Companies, as well as internationally recommended corporate governance practices as espoused by the ACGS. ACGS is an evaluation tool developed by the ASEAN Capital Markets Forum to assess the governance framework of publicly listed companies in the region. This assessment covers various aspects, including board responsibilities, shareholder rights, disclosure and transparency, and stakeholder management. This recognition serves as a testament to the company’s unwavering dedication to upholding the highest standards of corporate governance. By excelling in the ACGS assessment, Meralco has demonstrated its commitment to operating with integrity and safeguarding the interests of its shareholders and stakeholders. Through the award, Meralco highlights the importance of good corporate governance in today’s business environment. It serves as a reminder to all publicly listed companies that adherence to rigorous corporate governance standards is essential to ensure sustainable success and foster good relationships among investors, customers, and the community they serve. The post Meralco receives 3 Golden Arrow awards for outstanding good governance appeared first on Daily Tribune......»»
Meralco receives 3-Golden Arrow Award for Outstanding Corporate Governance
Recognizing its remarkable corporate governance practices, the Manila Electric Company (Meralco) has once again received a three-arrow recognition from the Institute of Corporate Directors (ICD) during the Golden Arrow Awards held on 28 September 2023. The prestigious accolade came as a result of Meralco’s outstanding performance in the 2022 ASEAN Corporate Governance Scorecard (ACGS) assessment, reflecting the company’s conformance with the Philippine Securities and Exchange Commission’s Code of Corporate Governance for Publicly-Listed Companies, as well as internationally recommended corporate governance practices as espoused by the ACGS. ACGS is an evaluation tool developed by the ASEAN Capital Markets Forum to assess the governance framework of publicly listed companies in the region. This assessment covers various aspects including board responsibilities, shareholder rights, disclosure and transparency, and stakeholder management. This recognition serves as a testament to the company's unwavering dedication to upholding the highest standards of corporate governance. By excelling in the ACGS assessment, Meralco has demonstrated its commitment to operating with integrity and safeguarding the interests of its shareholders and stakeholders. Through the award, Meralco highlights the importance of good corporate governance in today’s business environment. It serves as a reminder to all publicly listed companies that adherence to rigorous corporate governance standards is essential to ensure sustainable success and to foster a good relationship among investors, customers, and the community that they serve. The post Meralco receives 3-Golden Arrow Award for Outstanding Corporate Governance appeared first on Daily Tribune......»»
LandBank named best for financial inclusion
The Land Bank of the Philippines, or LandBank, was recognized by Kantar Philippines as one of 2023’s Best Philippine Brands under the “Banking” category for providing convenient, accessible and innovative banking services to unbanked and underserved Filipinos nationwide. Kantar conferred the award to LandBank for its strong brand of service, decades of empowering the underserved, and for advancing financial inclusion in the country through the accessibility of its integrated physical and digital banking services. The market research firm also highlighted the Bank’s efficient delivery of cash grants to beneficiaries of the National Government’s social amelioration programs, particularly the digital disbursement of financial assistance under the Conditional Cash Transfer Program. “This recognition is a testament to LandBank’s unwavering pursuit to reach and serve more Filipinos nationwide. We are continuously working towards the strategic expansion of our physical touchpoints and the enhancement of our digital channels to deliver exceptional and accessible banking service,” said president and CEO Lynette V. Ortiz. In support of the National Government’s financial inclusion drive, LandBank has also onboarded 8.35 million Philippine Identification System, or PhilSys, registrants for their own transaction accounts, under the Bank’s co-location strategy with the Philippine Statistics Authority. The partnership aims to bank previously unbanked PhilSys registrants and grant them formal access to basic banking and other financial services. LandBank likewise has 1,111 agent banking partners, or ABPs, nationwide offering services such as cash out, cash in, fund transfer, bills payment, and opening and issuance of LandBank Agent Banking Cards in unbanked and underserved communities. The bank also offers individuals who have no capacity for operationalizing a regular deposit savings account to open a LandBank “Perang Inimpok Savings Option” or PISO account with only P1 as minimum initial deposit and up to a maximum of P50,000 account balance. As of end-August 2023, LandBank has opened 52,406 PISO accounts for unbanked and underserved Filipinos including students, public utility vehicle drivers, vendors, farmers and fishers. Kantar BrandZ report LandBank was recognized for its strong brand image in the Kantar BrandZ Philippine Report, which was based on a comprehensive survey conducted in 2022 covering 44 local brands across four categories — banks, communication providers, general retailers and beverages. Kantar is a global marketing and data analytics company that specializes in analyzing, understanding, and interpreting consumer behavior and trends. The 2023 Philippines Brand Awards is the first edition held by Kantar Philippines in the country to honor the top brands that bring value to the lives of Filipino consumers. The post LandBank named best for financial inclusion appeared first on Daily Tribune......»»
A legacy award for Tita Helen
Our favorite charity fund raiser, the indefatigable and ageless Helen Ong, honorary consul of Angola to the Philippines, received the surprise of her life when the Board of Trustees of the Philippine Cancer Society bestowed on her the organization’s first-ever Legacy Award, which cited “her outstanding service as the chairperson of the Best Dressed Women of the Philippines from 2004 to 2023, while selflessly dedicating her precious time and worthy efforts to raise funds for the benefit of the PCS and, in so doing, alleviate the plight of cancer-stricken Filipinos.” Given during the recent “Best Dressed Women of the Philippines 2023” awarding at the Shangri La Hotel The Fort, the award underscored “her indefatigable commitment and loyal devotion to the Society for the last 20 years, even beyond the call of duty; her inspiring creativity and unparalleled perseverance in ensuring assistance was forthcoming during the Covid-19 pandemic amidst the scarcity of resources; and her unwavering belief in the compassionate hearts of her fellowmen and her steadfast faith in God.” [caption id="attachment_192151" align="aligncenter" width="525"] MEN of Great Influence 2023 (from left) David Ackerman, Noel Gonzales, Harold Co, Philippine Red Cross chairman Richard Gordon, Dr. Cecilio Kwok Pedro, Orberto Alvarez Jr., Richard Cariño and Richie Lerma.[/caption] The signatories of the award were PCS chairman of the Board of Trustees Antonio J. Ma. Guerrero and PCS president Dr. Corazon A. Ngelangel, with PCS trustee Dr. Kelly Salvador and PCS executive director Dr. Rachel Rosario handing the plaque of recognition to the awardee. Earlier, in her welcome remarks, Tita Helen, as she is fondly referred to by her friends and family, said, “This marks a day of gratitude for me as this is our 20th year. This could not have been possible without your continued help and support to our noble cause by providing financial assistance to your cancer-stricken brothers and sisters. [gallery columns="2" size="large" ids="192157,192161"] [gallery columns="1" size="large" ids="192162,192163"] Addressing the honorees, she acknowledged “every one of you here who have accepted our invitation as an awardee. Choosing one is not an easy task as we aim to recognize achievers in their own fields of work or advocacy, who are not just measured by their success and accomplishments but also by the kindness of their hearts. [caption id="attachment_192164" align="aligncenter" width="525"] Dr. Lauren Lior Liechtenstein.[/caption] [caption id="attachment_192165" align="aligncenter" width="525"] DAVID Ackerman and Mache Torres Ackerman.[/caption] [caption id="attachment_192166" align="aligncenter" width="515"] Agile Zamora receives her husband Wopsy Zamora’s award. Photographs by Yummie Dingding for the Daily Tribune [/caption] “Being beautiful has nothing to do with looks; it is how you are as a person and how you make an impact on the lives of many, especially to those who are in need. Beauty isn’t about having a pretty face, it is about having a pretty mind, a pretty heart and pretty soul.” Finally, she thanked “God who has been providing me with abundant blessings to be able to mount this event.” Major sponsors of this most special of annual awards recognizing these icons of style and philanthropy were Museo Orlina Foundation, Midas Hotel and Casino, San Miguel Foundation Inc., PAGCOR, The French Baker, SM Investments, SM Retails, Corso Como 88, Salcedo Auctions, Wilcon Depot Inc., Czarina Foreign Exchange, IPM Holdings Inc., B.A. Securities Inc., MW Travel and Tour and NEO. The post A legacy award for Tita Helen appeared first on Daily Tribune......»»
Metrobank gets global recognitions for exceptional performance
Built on trust, Metropolitan Bank & Trust Co. has been recognized as the Strongest Bank in the Philippines by The Asian Banker for the third straight year and the Best Domestic Bank in the country by Asiamoney. This attests to the Bank’s strength and reliability in putting its clients in good hands. The Bank gained these prestigious international recognitions from The Asian Banker and Asiamoney for its consistent strong financial performance across the board. In the first half of 2023, Metrobank maintained a strong 34 percent growth in net income of P20.9 billion, fueled by the Bank’s expanding assets, enhanced margins, and robust fee income growth while sustaining a stable asset quality. One of the World’s Best Companies On top of these awards, the Bank was also listed by TIME Magazine and Statista as one of the World’s Best Companies. The “World’s Best Companies” is a comprehensive list that ranks top performing companies across the globe based on employee satisfaction, revenue growth, and sustainability. “We’re honored to receive these back-to-back recognitions, especially as we celebrate the Bank’s 61st anniversary. At Metrobank, we always strive for excellence — whether it be in addressing our clients’ needs, achieving exceptional financial performance across our business, or contributing to nation-building. These awards are testaments to the steadfast commitment and relentless drive of each Metrobanker to keep Filipinos in good hands,” said Metrobank president Fabian Dee. Reliable partner through Filipinos’ financial journey For decades, Metrobank served as a reliable partner for Filipinos throughout their life journey — providing them financial services and guidance that are tailor-fit to their needs, even as they now navigate a modern and digital world. But before offering them a product or a service, every Metrobanker ensures that their clients fully and clearly understand the financial products and services they will avail of. The Bank’s mission to enable Filipinos throughout their financial journey goes beyond simply offering relevant solutions. Despite its financial success, the Bank’s priority and advocacy is to educate Filipinos first as they step into their financial journey. This is to make sure that every client makes a fully-informed financial decision and know how to protect themselves against fraud. This is made evident through Metrobank’s sustained financial education efforts — designed to equip Filipinos with reliable financial advice, fit for every life stage. In 2022, Metrobank introduced a comprehensive personal finance e-book developed to help Filipinos to become financially resilient. Meanwhile, the Bank’s Earnest app aims to simplify investing, through bite-sized lesson cards and easy-to-understand articles that cover basic investing concepts. For more advanced investors, there is Wealth Insights, an online portal that contains publicly accessible market-moving news and insights, as well as exclusive premium content that includes bespoke articles which dive deep into timely and actionable investment ideas. Meanwhile, Metrobank provides its clients with regular reminders and guidance to protect themselves against fraudulent transactions via SMS, emails, and social media posts. Today, Filipinos can easily start their financial journey by going to Metrobank’s hundreds of branches nationwide or digitally via the Earnest app. Those aiming to further grow their funds through investments can do so with Metrobank’s Online Time Deposit, which offers an interest rate of up to 4.5 percent, or through Metrobank’s wide-range of unit investment trust funds (UITF). With its commitment to give customers a safe, simple and secure experience on the NEW Metrobank app, the Bank recently introduced its interoperable QR feature, which allows on-the- go clients to enjoy more convenient fund transfers to and from other banks and e-wallets. Meanwhile, clients who are ready for a life upgrade - be it a new car or their dream home, can avail of Metrobank’s home and car loan offers with affordable rates and flexible payment terms. Growth partner for businesses Metrobank’s services transcends from customers to enterprises. When Metrobank was founded in 1962, it was primarily built to be a bank for businesses. Over six decades later, the Bank continues to stay true to its roots by offering a full suite of best-in-class financial solutions designed to serve enterprises of all sizes — from SMEs to large corporations based here and abroad. The post Metrobank gets global recognitions for exceptional performance appeared first on Daily Tribune......»»
Aboitiz Group bags triple Golden Arrow Awards
With a distinguished legacy spanning five generations, the Aboitiz Group remains steadfast in its commitment to fostering positive change in shaping the future as it adheres to the standards and requirements outlined in the ASEAN Corporate Governance Scorecard. This year, following the 2022 compliance period of the ACGS, Aboitiz Equity Ventures Inc. received a 4-arrow recognition after scoring 111.68 points, AEV’s highest ACGS score since the Institute of Corporate Directors inaugurated the Golden Arrow Awards in 2018. Aboitiz Power Corporation and Union Bank of the Philippines both received a 3-arrow recognition for scoring between 100 and 109 points. Consistent top performers It’s also important to note that AEV and AboitizPower have consistently been recognized as top performers in corporate governance, both here in the country and in the ASEAN region since 2013-2017 at the PSE Bell Awards. “This distinction is the result of the Aboitiz Group’s work to transform a legacy business into a hyper-innovative, diversified conglomerate that puts corporate governance and citizenship at the core of its operations. We have always believed that transparency and accountability are essential in building trust amongst our stakeholders and forging strong partnerships in order to drive change,” said Ginggay Hontiveros-Malvar, Aboitiz Group’s chief reputation and sustainability officer. AEV, the portfolio management company of the Aboitiz Group, leads investments in diverse sectors including power, banking and financial services, food, infrastructure, land, and cutting-edge fields such as data science and artificial intelligence. The Group is presently undergoing a profound transformation to establish itself as the Philippines' first "techglomerate." This innovative growth strategy, fueled by technology and a renewed entrepreneurial mindset, empowers Aboitiz to drive transformative change, shaping the future of its businesses, host communities, and the nation. The Golden Arrow Recognition serves as a testament to Aboitiz Group's unwavering commitment to upholding the highest standards of corporate governance. Aboitiz has excelled in several key areas such as compliance, sustainability, and innovation — positioning it as a frontrunner in the realm of corporate governance. This honor reflects the Group's ongoing commitment to creating value for its shareholders, stakeholders, and the broader Filipino community. Robust policies Aboitiz Group’s robust policies and procedures across every level of the organization form the bedrock of its commitment to excellence in corporate governance. Furthermore, the company's board of directors is characterized by its independence and diversity, playing a pivotal role in providing oversight and making strategic decisions aligned with the best interests of shareholders and stakeholders. Aboitiz places great emphasis on transparency, providing clear and comprehensive information regarding its financial performance, operations, and decision-making processes to ensure that shareholders and the public remain well-informed. In terms of regulatory compliance, Aboitiz is dedicated to adhering to all relevant laws, regulations, and standards related to corporate governance. The company continuously updates its policies to ensure alignment with evolving requirements. When it comes to ethical business practices, the Group's commitment to ethical conduct and integrity remains unwavering. “This award reaffirms the team’s adherence to the shared responsibility of sustainably managing the organization. This further motivates us to champion the highest corporate governance and ethical standards as we continue to grow the business,” said AboitizPower president and chief executive officer Emmanuel Rubio. “Likewise, we also exert as much effort and diligence in upholding environmental preservation and the societal good within the areas we have the privilege to serve,” he said. Corporate governance For his part, UnionBank lead independent director Roberto Manabat said, “We humbly accept this recognition as a reinforcement of the principles that guide the Bank. Our corporate governance practices reinforce the requirements of a constantly evolving business landscape. We ensure that they comply with new regulations and are ready to adopt best practices.” Aboitiz is deeply committed to sustainability and corporate social responsibility initiatives. The post Aboitiz Group bags triple Golden Arrow Awards appeared first on Daily Tribune......»»
Senate titan Dianne Feinstein dead at 90
Veteran Senator Dianne Feinstein, a titan of US political history who notched a string of legislative achievements during a trailblazing three-decade career in the Senate, has died at 90 years old, US media said Friday. Feinstein, the Senate's oldest member, was celebrated as a pioneer for women in politics and a hugely effective legislator. During a career that began in local California government, she grew to be a tough check on administrations from both parties. She had already announced her retirement this February as her health worsened and following a number of missteps that threatened her legacy. The Californian, who was widowed last year, became San Francisco's first female mayor after the fatal shooting in 1978 of Harvey Milk, the country's only openly gay politician, and mayor George Moscone by a disgruntled former colleague. Other dramatic moments including surviving an attempted bombing of her home. She was also near the scene of an infamous double murder in San Francisco. Her death is not expected to shift the tight balance of power in the Senate, with the Democratic governor of California appointing her temporary replacement. Summing up her dedication to public service, Feinstein once said that "even with a divided Congress, we can still pass bills that will improve lives. Each of us was sent here to solve problems." "That's what I've done for the last 30 years, and that's what I plan to do for the next two years." Democrats in her home state led tributes as news of the senator's death cast a pall over proceedings in Congress, with staff placing flowers on Feinstein's desk in the Senate chamber, according to Fox News. "She was a trailblazer and dedicated her life to public service," said David Valadao, a member of California's delegation in the House of Representatives. An icon in Senate politics who took the lead on hundreds of bills, Feinstein rose to the chairmanship of the powerful intelligence committee -- another first for a woman. Her achievements include writing the 1994 assault rifle ban and producing a 6,700-page report on the CIA torture program during the US "war on terror." But it was in her home state of California where she first made her mark. As the first female Board of Supervisors president in San Francisco, Feinstein led the city through the tumult that followed the fatal shootings in 1978 of Milk. She replaced the mayor and served for 10 years as a no-nonsense pragmatist, willing to work across the aisle, balancing nine budgets in a row and being declared the nation's "Most Effective Mayor" by local government bible City and State Magazine. Latterly, the pandemic and her husband's declining health curtailed her public appearances outside of Congress and she faced growing misgivings about her declining cognitive abilities, raised by figures in her own party. The youngest member of Congress, 26-year-old Maxwell Frost, described Feinstein as a "champion for Gun Violence Prevention that broke barriers at all levels of government." "We wouldn't have had an assault weapons ban if it wasn't for Senator Feinstein and due to her tireless work, we will win it back," he posted on social media. The post Senate titan Dianne Feinstein dead at 90 appeared first on Daily Tribune......»»
Aboitiz Group bags triple Golden Arrow Awards
With a distinguished legacy spanning five generations, the Aboitiz Group remains steadfast in its commitment to fostering positive change in shaping the future as it adheres to the standards and requirements outlined in the ASEAN Corporate Governance Scorecard. This year, following the 2022 compliance period of the ACGS, Aboitiz Equity Ventures, Inc. received a 4-arrow recognition after scoring 111.68 points, AEV’s highest ACGS score since the Institute of Corporate Directors inaugurated the Golden Arrow Awards in 2018. Aboitiz Power Corporation and Union Bank of the Philippines both received a 3-arrow recognition for scoring between 100 and 109 points. AEV and AboitizPower have consistently been recognized as top performers in corporate governance, both here in the country and in the ASEAN region since 2013-2017 at the PSE Bell Awards. “This distinction is the result of the Aboitiz Group’s work to transform a legacy business into a hyper-innovative, diversified conglomerate that puts corporate governance and citizenship at the core of its operations. We have always believed that transparency and accountability are essential in building trust amongst our stakeholders and forging strong partnerships in order to drive change,” said Ginggay Hontiveros-Malvar, Aboitiz Group’s chief reputation and sustainability officer. AEV, the portfolio management company of the Aboitiz Group, leads investments in diverse sectors including power, banking and financial services, food, infrastructure, land and cutting-edge fields such as data science and artificial intelligence. The Group is presently undergoing a profound transformation to establish itself as the Philippines' first "techglomerate." This innovative growth strategy, fueled by technology and a renewed entrepreneurial mindset, empowers Aboitiz to drive transformative change, shaping the future of its businesses, host communities and the nation. The Golden Arrow Recognition serves as a testament to Aboitiz Group's unwavering commitment to upholding the highest standards of corporate governance. Aboitiz has excelled in several key areas such as compliance, sustainability, and innovation – positioning it as a frontrunner in the realm of corporate governance. This honor reflects the Group's ongoing commitment to creating value for its shareholders, stakeholders, and the broader Filipino community. Aboitiz Group’s robust policies and procedures across every level of the organization form the bedrock of its commitment to excellence in corporate governance. Furthermore, the company's board of directors is characterized by its independence and diversity, playing a pivotal role in providing oversight and making strategic decisions aligned with the best interests of shareholders and stakeholders. Aboitiz places great emphasis on transparency, providing clear and comprehensive information regarding its financial performance, operations, and decision-making processes to ensure that shareholders and the public remain well-informed. In terms of regulatory compliance, Aboitiz is dedicated to adhering to all relevant laws, regulations, and standards related to corporate governance. The company continuously updates its policies to ensure alignment with evolving requirements. When it comes to ethical business practices, the Group's commitment to ethical conduct and integrity remains unwavering. The company adheres to a stringent code of conduct that guides the behavior of its employees, fostering an environment of trust and integrity. “This award reaffirms the team’s adherence to the shared responsibility of sustainably managing the organization. This further motivates us to champion the highest corporate governance and ethical standards as we continue to grow the business,” said AboitizPower president and chief executive officer Emmanuel Rubio. “Likewise, we also exert as much effort and diligence in upholding environmental preservation and the societal good within the areas we have the privilege to serve.” “We humbly accept this recognition as a reinforcement of the principles that guide the Bank. Our corporate governance practices reinforce the requirements of a constantly evolving business landscape. We ensure that they comply with new regulations and are ready to adopt best practices,” said UnionBank lead independent director Roberto Manabat. Aboitiz is deeply committed to sustainability and corporate social responsibility initiatives. The company actively pursues environmental and social responsibility, demonstrating its dedication to creating a positive impact on society and the environment. The post Aboitiz Group bags triple Golden Arrow Awards appeared first on Daily Tribune......»»
Strike deal only first step in resolving film industry crisis
A tentative deal to end a long-running writers' strike that has paralyzed Hollywood is only a first step in resolving a film industry crisis, as an equally bitter studio stand-off with the actors' union stretches on. The Writers Guild of America, which walked out back in May over demands including better pay and safeguards against the use of artificial intelligence, finally thrashed out a deal with studios including Netflix and Disney on Sunday night. Ratification of that agreement -- first by the WGA board, then by its 11,500 members -- is widely expected to be waved through without any obstacles in the coming weeks. Picketing for writers has been suspended and the guild has indicated that it could allow members to return to work even before the final vote is counted. Late-night TV shows could return to air "within the next two to three weeks," according to Variety, citing industry insiders. But a far thornier issue is the still ongoing strike by Hollywood actors, represented by the SAG-AFTRA union, which is likely to take weeks to resolve and will prevent any return to production in the immediate future. Even after that, with hundreds of film and television shoots backed up, it could take months for Hollywood to clear the logistical logjam and get fully back to work. "There are presumably upwards of 1,500 productions that all want to start as soon as they can," said entertainment lawyer Jonathan Handel. "And so when SAG gives the word, they're all going to be competing simultaneously... it's absolute chaos. "I don't think we're going to see normalcy in the production process until sometime after January or February." 'Huge roadblock' The WGA's deal with studios achieved compromises on minimum wage increases, bonus payments for writers participating in hit shows, and guarantees that scripts using AI will not undercut human writers and their paychecks. Many of these issues overlap with the actors' demands, and SAG-AFTRA negotiators will be poring over the fine details this week, ahead of their own talks with studios. But, Handel warned, many SAG-AFTRA demands go further than those of the writers. These include steeper pay rises to counter rampant inflation, and an actual share of revenue for hit streaming shows. Studios will be wary that whatever they offer to actors is likely to be demanded by other Hollywood professions such as movie set crews and technicians, who have their own contract renewals due next year. "I think basic wages going are going to be a huge roadblock towards the SAG deal in the next few weeks, because of pattern bargaining," said Handel. SAG-AFTRA also has its own specific demands, such as restrictions on the use of remote, self-taped auditions, which became ubiquitous during the pandemic but are disliked by many actors. 'Fool's assumption' Still, Sunday's deal means SAG-AFTRA negotiators could meet with unions as soon as next week, for the first time since actors went on strike in July. "The end of the WGA strike will hasten the end of SAG-AFTRA's walkout," predicted Variety. But even "if things go smoothly -- which is a fool's assumption -- I still think it would take two to three weeks to get a SAG deal done... which takes you into October," said Handel. "Then there's the ratification process, which takes another month." That means the clock is ticking for actors to be able to promote big year-end movie releases, such as Disney's superhero sequel "The Marvels." And publicists are desperate for their stars to start campaigning for some of the industry's biggest events -- television's Emmy Awards, and the film industry's Oscars, which take place in January and March respectively. The post Strike deal only first step in resolving film industry crisis appeared first on Daily Tribune......»»
Mike Enriquez honored by PMAP with posthumous award
For his contributions to the industry as one of the country’s most trusted broadcast journalists, Miguel “Mike” Enriquez was posthumously conferred a Makatao Award for Media Excellence by the People Management Association of the Philippines. The award was personally received by his wife, Lizabeth “Baby” Enriquez, together with GMA Network first vice president for radio Glenn Allona and assistant vice president for GMA Integrated News John Ray Arrabe, during a ceremony held at GMA Network last 15 September. Presenting the award to Mrs. Enriquez were 2022 PMAP president and board of trustees for Media and Communications member Ellen Fullido; PMAP communication specialist and Makatao Awards for Media Excellence program lead Martin Alcantara; training head Richard Mamuyac; and HR Head Bernadette Tan. A five-time Makatao awardee and Hall of Famer, Enriquez was recognized by PMAP for his dedication to and enduring legacy in advancing public knowledge, as well as his promotion of sound people management in the country through his years of service as broadcaster. Enriquez was recognized as Best TV Male Newscaster at the 3rd Makatao Awards in 2013. He achieved back-to-back Best Radio News Anchor wins at the 6th and 7th Makatao Awards in 2017 and 2018. He then took home the Best Radio News Program Host award during the 8th and 10th Makatao Awards in 2018 and 2022. Enriquez. who passed away last 29 August at the age of 71, was the president of RGMA Network, Inc. and GMA Network's senior vice president and consultant for Radio Operations. He anchored DZBB's “Super Balita sa Umaga” and “Saksi sa Dobol B." He was one of the anchors of GMA's flagship newscast “24 Oras” and of the late-night newscast “Saksi.” He also hosted the long-running public affairs program “Imbestigador.” Several Kapuso news personalities and shows were also recognized at PMAP’s 11th Makatao Awards held last 30 August. State of the Nation anchor Atom Araullo won Best TV News Program Host, while GMA Integrated News Digital Strategy and Innovation Lab's online newscast Stand for Truth was named the Best Online Broadcast for its "Emergency Landing" episode. In the radio category, the tandem of Arnold Clavio and Connie Sison were recognized as Best Radio Public Affairs Program while “Dobol Weng sa Dobol B” was named Best Radio Public Affairs Program. Joey Reyes Zobel and Melo Del Prado completed the awards by winning Best News Program Hosts. For more stories about the Kapuso Network, visit www.GMANetwork.com. The post Mike Enriquez honored by PMAP with posthumous award appeared first on Daily Tribune......»»
Nina Lim-Yuson — A lifetime of girl scouting
The president of the Girl Scouts of the Philippines, Nina Lim-Yuson, grew up in a family and home of Girl Scouts. Her grandmother, Pilar Hidalgo-Lim, was one of the co-founders of the GSP. “It was actually my Lola Pilar who suggested to Josefa Llanes Escoda, the GSP founder, to go to America to learn about girl scouting.” This tidbit of history, Nina shared in an online interview with the DAILY TRIBUNE. Pilar Hidalgo-Lim became GSP president, and so did Nina’s mother, Estefania Aldaba-Lim, who served as secretary of the Department of Social Welfare and Development. Nina’s sister too, the eminent broadcast journalist, Cheche Lazaro, was a Girl Scout. Coming from a lineage of women achievers, Nina could not have chosen a different path. It was scouting that formally introduced the family to social responsibility, skills development and citizenship. Her brothers were also Boy Scouts. “I started when I was six years old and it was my Lola Pilar who inducted me as a Brownie. It used to be called Brownie because we were still using the American pattern,” she related. She belonged to Troop Number One, the first to be organized by the GSP national headquarters. In high school at the Jose Abad Santos Memorial School of the Philippine Women’s University, she became a junior and later a senior Girl Scout. College would briefly end her Girl Scouting as she focused on her studies. Along the way, she also danced with the Bayanihan Folk Dance Company. It was not unexpected that she would return to scouting, her first love, and her first extra-curricular activity. For the last 36 years, she has been active in various organizations and volunteer work. She founded the Museong Pambata. She is a recipient of The Outstanding Women in the Nation’s Service and is active in its various social development efforts. What Nina brings to her post is the legacy of leadership that had been passed on to her through generations of women leaders in the family. “My Lola Pilar was my idol. She was such a nice person and I never knew her totally as a president. I knew her more as a loving lola from all the stories she related when we rode up to Baguio. “My mother, on the other hand, was the opposite. She was very career-minded. I learned naman from her a lot of things, like being thrifty and having a list of things to do. In terms of organization, she was like that. Because she was in government. And, you know, when we started Museo, while it was actually my concept, I learned a lot from her. She would call me up at 5 o’clock in the morning and she would rattle off what needed to be done, like ‘number one, number two and so on.’ That was her. And I’m glad that I worked with her for six years in Museo. She was the president and I was the executive director for six years. I took over in 2000 as president and chief executive officer. And then, I stepped down in 2017.” Girl Scouts who read and tell stories Nina was elected president of the Girl Scouts of the Philippines for the term 2021-2024 during its 2021 national convention. From day one, she shared, “My purpose was to reach out to the community-based troops because we have always been school-based. Many young women now have social problems so we need to reach out to the communities through our community-based troops.” Also on top of her priorities is literacy development, a cause that she addressed even in the Museo Pambata. She explained, “My advocacy has always been education. So, I was very concerned because the Asian Development Bank reported in 2022 that the World Bank found out that our Filipino children at ages 9 and 10 cannot read. So, I felt that because girl scouting is all over the country, with 96 local councils, the organization could serve as a vehicle for improving literacy in our country. “We started the Girl Scout Storyteller project because storytelling affects the heart first before the mind. When young people start with storytelling, they will love the stories and then the written word. They would then want to read. “We now have storytelling in economically challenged communities and we have partners. We sent out 2,500 books throughout the country with the help of our partner couriers.” Initially, she sought the help of her family foundation “to give a donation. I also sought the help of Ging Montinola, who is into literacy development. Together, we founded the literacy program. We are building this fund to cover the cost of buying children’s books. We will have a storytelling contest next year.” Raising funds for Camp Escoda Nina then shifted the conversation to another major endeavor that she is spearheading as GSP president — fundraising for the 27-hectare Camp Josefa Llanes Escoda in Palayan City, Nueva Ecija, which was donated by the provincial government during the term of Governor Amado Aleta, the father of consul and civic leader Fortune Ledesma. “Palayan is beautiful because it has rolling hills, but it doesn’t have electrical and water facilities and roadworks. It doesn’t have a swimming pool, and it’s so hot in Nueva Ecija. It also does not have a conference hall. This is a big one-time fundraising project because it’s for the future of the girls who are going to the camp. Because as of now, if you go camping there, you have to walk up the hills to get your drinking water. You have to make buhos to take a bath.” She recalled, “In my time as a young Girl Scout, which was of another era, we had to walk in the dark to fetch water to fill up two drums. I was so scared because there were tuko in Los Baños. That taught me to be courageous. Camps really build up your lifetime skills and attitude. Camping is very integral in girl scouting and boy scouting. So, this camp will serve a purpose. It just needs various basic facilities to make it world-class and convenient with the proper amenities, but the girls will continue to learn all those survival techniques and appreciate nature right on the camp.” She praised architect Pippo Carunungan, “who is an environmental planner. He surveyed the site and drew up everything. It will be a beautiful camp, he said, because it’s a gift of nature.” First Lady as Chief Girl Scout Nina recently led the Girl Scouts in a fundraising ball attended by the “First Lady, Liza Araneta-Marcos, who is our Chief Girl Scout. It’s mandated in the GSP constitution that whoever is the female president of the country or the First Lady is the Chief Girl Scout. In the past, we had Imelda Marcos, Gloria Macapagal Arroyo. All the first ladies were all Chief Girl Scouts. “Mrs. Liza Marcos spoke before us and she promised to help. She said, ‘We will make it the best campsite.’ Everyone was excited to see her and she obliged everyone who asked to have selfie with her. She is very friendly. She is really a Girl Scout.” Nina shared, “A generous couple is sponsoring the swimming pool at P6 million, while a gentleman entrepreneur is sponsoring the perimeter fence at P1.5 million. Many other businessmen and leaders have pledged to help build this dream GSP project. “We really need to raise about 50 million to have a very good camp. But when the First Lady heard about it, she said, ‘It has to be P250 million.’ But, really, when we have the funds, we can have deep toilets that have running water instead of tabo-tabo. Since we have a little Pampanga river that runs across the camp, we can build a bridge that crosses it and then the girls can have white-water rafting there in the Pampanga river. “Camp Escoda will be a very important and significant venue for our Girl Scouts to gather, bond, learn new skills and develop as morally upright citizens of the country and the world. It is especially so because camping is integral in any Girl Scout’s life. If you don’t have camping, it’s like half of your scouting life is missing. Every Girl Scout remembers that time of her youth. And being the national camp, it will welcome Girl Scouts representing the 96 councils from Luzon, Visayas and Mindanao who will participate in various events and trainings.” Girl Scouts of all ages As GSP president, Nina travels to various parts of the country. “We have regional conferences aside from the meeting of the Central Board when regional heads and executives come to Manila. “I had just come from Baguio where I stayed for two-and-a-half days. I met our young Girl Scout representatives from ages 14 to 18. I enjoyed listening to them and exchanging ideas with them. I am so happy that we have a wealth of intelligent girls who want to serve the country. They are the ones who are going to take over. “It’s amazing that GSP is no longer limited to old people on the board. We finally have young ones on the board. Our Escoda committee is headed by Jade Delgado from Iloilo. Then we have Justine Bautista. She’s a psychometrician. She heads the Program Committee, which is a big committee because when we were in Baguio, we had 86 girls from all the councils throughout the country. Many of them are running for SK. “So, in my 70s now, which I don’t feel at all, I don’t take any medicines or something like that. Being with young people is what inspires me. Because at 15, 16 or 17, they already know that they have some kind of a mission.” Nina proudly shared that the venue of the Baguio conference, 'Ating Tahanan' on the South Drive was bought during the tenure of my Lola Pilar. We have four buildings there, including the houses of Senator and actor Rogelio de la Rosa and Carlos Valdes, the accountant. Lola Pilar, according to Carlos Valdes, twisted his arm to get a low price. I’m so thankful for all those who preceded me because they bought these places. It’s on South Drive which is so valuable. We even have a reserved forest behind us.” As she looks forward to the next camping and gets even busier raising funds for Camp Escoda, Nina feels elated that “every one of us in the Girl Scouts has been together in our various undertakings. The nice thing is we are now intergenerational because we try to bring in the old with experience, institutional memory and their wisdom born of their long life, and the young who are full of enthusiasm, energy and new ideas.” A star scout for a granddaughter While Nina does her part for the bright future of girl scouting in the country, her personal family too has not stopped contributing to the roster of members to this worldwide organization. Today, a granddaughter of hers, seven-year-old Rocio Yuson de Guzman, is a Star Scout. She is the daughter of Nina’s daughter, Nicky. No grandmother could have been prouder. Nina said, “Rufio loves being a star scout. When I arrived from the recent world conference in Cyprus, I came back with some badges and I gave some to Rufio who is very proud of the little badges that I got for her.” For sure, Nina will pass on not just the badges to Rufio. More importantly, she will give her granddaughter the once-in-one’s-childhood experience of being a Girl Scout and learning “the values that are identified in the Girl Scout Promise and Laws. I think that while there is so much to enjoy and learn, it is the inculcation of these values that would mold her into a well-rounded human being. As we all know, a Girl Scout’s honor is to be trusted. A Girl Scout is loyal, thrifty, courteous… and so on. It’s like a mantra -- the values that one lives by. “I have reached that point when it is not about success or what one accumulates in life, whether awards or accomplishments or material things. It is more about what I can share and scouting gives me that honor and privilege — to do my part in helping mold our young girls and making them aware even at an early age that they have a mission and worthy purpose in life. It is not just about being good and outstanding on your own but it is also about helping others to become better in what they’re doing and live better lives. “And I need not look far. As a grandmother, I dote on my Star Scout granddaughter, Rufio. There’s a world out there for her to discover and in which she has a role to play and use the skills and values she will learn from scouting.” The post Nina Lim-Yuson — A lifetime of girl scouting appeared first on Daily Tribune......»»
Gross borrowings reach P1.46T
Gross financing of the national government has already increased in the first seven months of the year due to higher domestic borrowings. The latest data from the Bureau of Treasury (BTr) showed that the national government's gross borrowings from January to July 2023 reached P1.46 trillion. Gross borrowing is the entire sum of loans or borrowings made by the government from domestic and international sources to cover its necessary expenditures and close budget gaps. During the first seven months, gross domestic borrowings reached P1.17 trillion, while the gross external financing reached P387.88 billion. Fixed-rate treasury bonds worth P794.53 billion, retail treasury bonds worth P283.76 billion and net treasury bills worth P88.70 billion were both issued to raise funds from domestic sources. Meanwhile, project loans totaling P79.21 billion, program loans of P145.06 billion, and global bonds comprising P163.60 billion made up the entire amount of external funding. *July borrowings down* Meanwhile, the national government's July borrowings declined year-on-year, mainly due to reduced loans acquired from local creditors. Marcos administration's borrowing in July came to P131.13 billion, down from P174.21 billion during the same month last year. The decrease in borrowing from the domestic market is mainly the cause of the decline. In July 2023, gross local financing stood at P167.81 billion. However, the government's net local borrowing reached P110.5 billion this year. Out of the total, P108.4 billion came from the sale of long-term debt papers, while P2.12 billion was acquired through short-term IOU offerings. National Treasurer and Monetary Board member Rosalia de Leon previously stated that the government needs to borrow money because its spending outweighs its revenue collections. Due to this condition, a budget deficit must be solved via borrowing. But not all the money the government borrows goes toward closing the budget gap. A portion of it is used to pay off past debts, including interest. The post Gross borrowings reach P1.46T appeared first on Daily Tribune......»»
Dive industry country’s revenue driver —DoT chief
The dive industry in the country has been a catalyst in luring more tourists and Tourism Secretary Maria Christina Frasco said the Marcos Jr. administration remains upbeat in making it sustainable in the years to come. During the inaugural Philippine Tourism Dive Dialogue last Thursday, 14 September 2023, Frasco said the contribution of the dive industry to Philippine tourism was evident in 2022, with the country gaining an estimated P37 billion in tourist receipts from international dive visitors, which constituted over 17.5 percent of the country’s entire tourism receipts last year. The two-day convergence of relevant national and local government agencies as well as the Department’s partners from the private sector was held with an eye to sustaining the success of the country’s dive tourism industry and in fulfillment of the directive of President Ferdinand Marcos, Jr. for the Philippines to attain a tourism industry that is “inclusive, where the benefits of tourism are felt far and wide across the countryside.” Very first DoT Dive Committee Said Frasco, “The effort, therefore, requires the ability to listen, to understand the prevailing challenges that are present and require solutions that can only be reached with collaboration, convergence, and unity. That is why early on, in the Marcos administration, we, in the Department of Tourism, mandated the formation of the very first DoT Dive Committee.” The event featured significant panel discussions that centered on Marine Environmental Protection and Conservation; Dive Niche Products: Free Diving, Scuba Diving, Black Water Diving, and Underwater Photography; Philippine Dive: Domestic/International Marketing Campaign; Safety, Standards, and Accreditation of Tourism-related Enterprises for Scuba Diving; and Investment Opportunities in the Dive Industry. The dialogue comes on the heels of The Philippines’ fifth straight win as Asia’s Leading Dive Destination at the prestigious World Travel Awards 2023. Herself a certified diver, the DoT chief sits as the chair of the Department’s Dive Committee which brings together the DoT and its attached agencies, the Tourism Infrastructure and Enterprise Zone Authority, the Tourism Promotions Board, and the Philippine Commission on Sports Scuba Diving to support the needs of the dive industry and expand its current portfolio. According to the tourism chief, the hosting of the first-ever Dive Dialogue in Cebu is also fitting given Central Visayas’ status as one of the country’s premier dive tourist destinations, home as it is to multitude world-class dive spots other than the region being currently, among the most-visited destinations by overnight regional travelers. Not only Central Visayas While Central Visayas was the site of the inaugural Philippine Tourism Dive Dialogue, Secretary Frasco said that the event also puts a spotlight on many other key and emerging dive sites across the country. “The focus of the Department of Tourism is to target various markets, whether that be families, solo travelers, luxe travelers, groups, and the like. And we have very specific programs that are targeted to various niche markets specifically for diving. We have dive enthusiasts from all over the world and many jurisdictions including North Asia, as well as Europe, to whom diving has been a very strong product for the Philippines,” she said. “We fully intend to capitalize on that and open up to new markets, especially in Europe in the Middle East by making sure that we can collaborate with the Department of Transportation to mount more flights coming into the country from those places,” she added. The post Dive industry country’s revenue driver —DoT chief appeared first on Daily Tribune......»»