We are sorry, the requested page does not exist
Shell Pilipinas profit tumbles to P1.2 billion in 2023
The earnings of Shell Pilipinas Corp. plunged by 70.7 percent to P1.2 billion in 2023 from P4.1 billion in 2022 on the back of declining global fuel prices and elevated interest rates......»»
Donald Trumps $3.5bn windfall at stake in Spac deal showdow
The Financial Times, known for its in-depth coverage of global business, economics, and politics, is now offering a special subscription deal for its print edition......»»
Fitch sees Philippine economy growing by 6.4% in 2024
“We expect output growth to accelerate to 6.4 percent in 2024, reflecting base effects from a weaker 2023 and our assessment that policy rates have peaked. Consumer confidence has been weakening, but business confidence has recovered strongly.”.....»»
Malaysian Chamber eyes Davao’s logistics hub potential
THE Malaysia Chamber of Commerce and Industries Philippines, Inc. (MCCI) foresees strong business confidence for investing in Davao City, positioning it as a potential world-class logistics hub competing with leading regions in Southeast Asia such as Singapore, Macau, and Kuala Lumpur in Malaysia......»»
Al-ag proposes to repeal ordinance requiring delivery riders biz permits
Davao City Councilor Bernie Al-ag has proposed the repeal of an ordinance that requires delivery riders to obtain business permits. The ordinance in question, City Ordinance 0612-21 series of 2021, classified delivery riders as independent service contractors, mandating them to apply for business permits. However, a joint memorandum circular issued by various government agencies exempts individuals providing personal services, including delivery riders, from securing business permits. Al-ag emphasized that the city government must adhere to the guidelines set forth in the memorandum. While the proposed repeal is pending, Al-ag advised delivery riders to comply with the existing ordinance. He expressed confidence in the passage of the repeal, citing the solid basis provided by the joint memorandum. Despite a group of delivery riders seeking an audience with Davao City Mayor Sebastian Duterte on the matter, Al-ag's proposal was drafted in response to a separate petition. He clarified that the repeal is not about monetary collection but aligning with national law, which exempts delivery riders from obtaining business permits. Al-ag remains optimistic about the repeal's approval, pointing to the support provided by the joint memorandum as a strong foundation for his proposal......»»
Entrepreneurs Should Have Outpouring Confidence
Uncertainty and challenges are the only constants in every business, and one thing that could make a rocking ship continue to float is the confidence of a business owner. Beyond being a personal attribute, an entrepreneur’s confidence is a force that shapes the trajectory of their business path. Projecting confidence is not just a personal […].....»»
CEE confident to reach P112-M revenue by end of 2023
The Davao City Economic Enterprise (CEE) is confident that it will achieve a revenue of P112 million by the end of 2023. Maximo Macalipes Jr., the officer-in-charge of CEE, expressed his confidence during the iSpeak media forum. He mentioned that they have already accomplished 80 percent of their target revenue as of October. Macalipes highlighted that market operations, slaughterhouse, and cemetery operations are the biggest contributors to the city's revenue. The special projects division has already exceeded its revenue target, while the Sta. Ana Port, Magsaysay Park, DCRC, and DCOTT are also performing well. Macalipes emphasized that they will continue to renovate public markets and other business activities while adhering to the revenue code......»»
Automated logistics hub rises in Laguna
Flash Express, the fastest-growing logistics and courier service company in the Philippines recently inaugurated its new automated 20,000 sqm hub in Sta. Rosa, Laguna equipped with the most advanced logistics sorting machines. In a ceremony last 20 October 2023, Flash Express presented its newly installed automatic sorting machines that can process up to 600,000 parcels per day. The upgrade of hubs and distribution centers is an important milestone for the company, marking a new level of business volume, quality service, standard logistics management and operation efficiency. The Flash Express PN5 automated hub has a matrix consisting of 20 unloading lines, including 12 sets of DWS and automatic balance wheel sorting machines and 8 manual sorting lines that can process 120,000 parcels per hour. Double-layer automatic sorting machine In the bagging area, there is a double-layer automatic sorting machine with 420 sorting grids that can process 40,000 parcels per hour. While in the sorting area, there are 20 line hauls and 180 DC. With this, Flash Express general manager Vincent Peng said the company, in the past two years as a newly established company in the country, has faced and adapted to the Philippine e-commerce logistics market, social environment, and the industry's competitive environment. “In order to adapt to the development of the market and the needs of customers, we have invested a lot of money and manpower to finish the renovation of our hubs and distribution centers. More advanced equipment and technology have been used, manpower and vehicles have been increased, and the quality and efficiency of operations have been improved. Thus, the capacity of the whole operation has been greatly improved,” Peng said. Confidence in the market He reiterated that the upgrade represents the company's confidence in the market and the determination to develop business partnerships to continuously adapt to the demands of the market development and to continuously improve their operations. Peng said that the business will have a higher standard and more professional attitude to provide customers with more quality, efficient, and reliable service, and to work better with all their business partners to help improve the e-commerce logistics industry. The post Automated logistics hub rises in Laguna appeared first on Daily Tribune......»»
Aboitiz Construction kicks off expansion works for Monde Nissin’s bakery plant in Davao City
Aboitiz Construction sealed another project for Monde Nissin Corporation (MNC) which involves the construction of nine ancillary structures and external works for the food company’s expanded bakery plant in Brgy. Ilang, Davao City. This project is poised to improve MNC’s facilities, strengthening their commitment to enhancing food security in the region and providing local job opportunities. For completion next year, Aboitiz Construction will spearhead a wide array of tasks, encompassing earthworks, structural, and architectural works to build the ancillary structures. Simultaneously, the external works include civil works, site development, and the building of roads and drainages. The establishment of the new facilities will help strengthen MNC’s sustainability commitment to making eco-efficiency possible and making better food accessible to their consumers. Integral to this project is Aboitiz Construction's ongoing involvement with MNC in site and foundation works, a contract secured in June 2023. This phase includes various site development activities covering an expansive area of over 18,000 square meters, preparing the ground for the bakery plant's expansion. “We are very thrilled to start a new construction project with Monde Nissin Corporation, one of our valued repeat clients. This collaboration stands as a testament to the trust and confidence they have in our capabilities. As we embark on this journey, we will ensure to bring our expertise, dedication, and teamwork to the forefront once again,” said Aboitiz Construction Vice President for Business Development Construction Levi Agoncillo. True to its commitment to providing jobs for many Filipinos, the team plans to hire nearly 100 skilled workers, with an emphasis on employing local talents. Aboitiz Construction has been enhancing its expertise in light industries. Currently, the company is actively engaged in a land development project for LIMA Estate, covering 72.2 hectares in Batangas, showcasing its commitment to excellence and growth in the construction sector. The post Aboitiz Construction kicks off expansion works for Monde Nissin’s bakery plant in Davao City appeared first on Daily Tribune......»»
Phl, Saudi funds in earnest talks
As Gulf nations expressed interest in investing in the Maharlika Investment Fund, or MIF, the Philippine government began in-depth negotiations with the Public Investment Fund, Saudi Arabia’s sovereign wealth fund. In a roundtable interview with the reporters on Saturday morning (Manila time), President Ferdinand Marcos Jr. said the discussions on the MIF “proceeded very quickly” after he met with Saudi Arabian officials and business leaders. “I am very encouraged and quite happy by the fact that the reaction that we got from our partners in Saudi Arabia and in other countries have been very encouraging, and they really want to have the opportunity to help and participate in our investment fund because we’ve shown that this is a truly good investment for them,” Marcos said. The President said the concept of a sovereign wealth fund for the Philippines is becoming “more and more attractive” as the government talks to more prospective partners. He expressed confidence the fund will be operationalized soon, once the government starts talks in detail with other investment funds, governments, and private corporations. “That is precisely the role that we have envisioned for the sovereign fund, the Maharlika Fund, and that is the direction that it has taken, and again, our partners have become, have been very, very encouraging in their reaction to what we presented to them,” Marcos said. Enacted in July this year, the Maharlika Investment Fund was established to use government assets for investments to enhance public finances. Before heading to the ASEAN-GCC Summit in Saudi Arabia, Marcos suspended the implementing rules and regulations of the MIF in order, he said, to study it some more. Government technocrats said it was to make it more transparent. Meanwhile, the Bureau of the Treasury and the Department of Finance on Saturday confirmed Saudi Arabia’s interest in the MIF. “In general, we received a lot of good feedback from our counterparts during that visit,” said BTr officer-in-charge Sharon Almanza in a forum last Saturday. Finance Undersecretary Zeno Abenoja said the Saudi Arabian firms’ interest in the MIF reflected the same enthusiasm exhibited by Dubai and Qatar over the fund. “The business communities both in this recent visit and the previous ones expressed their huge interest in the Maharlika Fund during their discussions with the Philippine economic team,” he said. Abenoja said investors’ contributions to the fund from the private and overseas sectors could not yet be specified in numerical figures. “Right now, it’s difficult to have a good estimate because we’re just starting to promote the fund. But strategic partners could be domestic investors and foreign investors,” Abenoja said. He explained that the proceeds from the sovereign fund will be used to augment government funds for high-impact projects, especially infrastructure projects. “It’s the additionality aside from the government resources being used to finance, for example, the 197 infrastructure flagship projects worth more than P8 trillion,” Abenoja said. The post Phl, Saudi funds in earnest talks appeared first on Daily Tribune......»»
Phl govt in talks with Saudi’s Public Investment Fund
The Philippine government has already started detailed talks with the Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, as the Gulf countries want to invest in the Maharlika Investment Fund (MIF). In a roundtable interview with the reporters on Saturday morning (Manila time), President Ferdinand Marcos Jr. said that the discussions on the MIF have "proceeded very quickly" after he pitched the sovereign wealth fund to Saudi Arabian officials and business leaders during his recent visit to the Kingdom. Marcos also said other Gulf countries have expressed interest in the Maharlika Investment Fund. He added that the reaction to the fund from Saudi Arabia and other countries has been "very encouraging." "We introduced to them the Maharlika Investment Fund, which has proceeded very quickly and we have gone into, we have already started, we detailed talks with their PIF, which is the equivalent here in Saudi Arabia. It is their investment fund and how we can do it, how we can work together," Marcos said. "I am very encouraged and quite happy by the fact that the reaction that we got from our partners in Saudi Arabia and in other countries has been very encouraging and they really want to have the opportunity to help and participate in our investment because we've shown that this is a truly good investment for them," Marcos added. Marcos said that the concept of a sovereign wealth fund for the Philippines is becoming "more and more attractive" as the government talks to more prospective partners. He expressed confidence that the fund will be operationalized soon, once the government is able to start talking in detail with not only investment funds but also private corporations and other governments. "That is precisely the role that we have envisioned for the sovereign fund, the Maharlika Fund and that is the direction that it has taken, and again our partners have become --- have been very, very encouraging in their reaction to what have presented to them," Marcos said. Enacted in July this year, the Maharlika Investment Fund was established with the goal of using government assets for investments to enhance public finances. Before heading to the ASEAN-GCC Summit in Saudi Arabia, he reassured their commitment to making it operational by the end of the year. The post Phl govt in talks with Saudi’s Public Investment Fund appeared first on Daily Tribune......»»
Phl, Saudi agreements will benefit 15,000 Filipinos — Marcos
RIYADH, Saudi Arabia – President Ferdinand Marcos Jr. on Thursday said that several agreements worth more than $120 million between Saudi Arabia and the Philippines will benefit more than 15,000 Filipinos soon. During a roundtable meeting with Saudi business leaders here, Marcos said the agreements represent a significant step in strengthening the cooperation between the two countries. The agreements were signed during Marcos' first official visit to Saudi Arabia since assuming the Presidency in June 2022. The agreements cover a wide range of professions in the construction industry, including engineering, architecture, and healthcare. "This meeting happens at such an opportune time as the Philippine economy continues its high growth trajectory," the President said. "To our current and future business partners, I hope this meeting has served as an excellent platform for building greater and closer partnerships between the Philippines and the Kingdom of Saudi Arabia," he added. He then thanked to the Saudi Ministry of Investment and the Saudi business leaders for their support and confidence in the Philippines and the Filipino people. Marcos Jr. assured that the Philippine government is steadfast in its commitment to continuously supporting current and prospective Saudi investors. He also urged the Saudi business leaders present at the meeting to "further make it happen in the Philippines." Marcos also thanked the Saudi government for its support to the Philippines. He said the two countries have a long history of friendship and partnership, and he is confident that this relationship will continue to grow in the years to come. The signing of the agreements is part of the Philippine government's efforts to expand job opportunities for the Filipinos. The government has also been working to improve the working conditions of overseas Filipino workers (OFWs). In recent years, Saudi Arabia has become one of the most popular destinations for OFWs. There are currently over one million Filipinos living and working in the country. The President's visit to Saudi Arabia is part of his efforts to strengthen economic ties with the Gulf Cooperation Council (GCC) countries. The Philippines is a member of the ASEAN-GCC Summit, which the Kingdom is currently hosting. The post Phl, Saudi agreements will benefit 15,000 Filipinos — Marcos appeared first on Daily Tribune......»»
Cesafi to players, fans: Rough play, heckling below the belt won’t be tolerated.
CEBU CITY, Philippines — Lawyer Boyet Velez, Cebu Schools Athletic Foundation, Inc. (Cesafi) deputy commissioner, has given a stern warning to the players and fans that they will impose sanctions and even ban those who have harmful intensions in actions or words during the games. Velez told CDN Digital that their technical committee has been stringent in reviewing the Cesafi basketball games to see if there are any other players who intentionally caused physical harm on-court. READ: Keaton Taburnal of CRMC Mustangs suspended for two games by Cesafi Taburnal suspension It was in light of the two-game suspension of Cebu Roosevelt Memorial Colleges (CRMC) Mustangs’ Keaton Clyde Taburnal, who was caught on tape hitting University of Cebu (UC) Webmasters’ John Herben Linares in the abdomen during their October 14 game at the Cebu Coliseum — a game which was won by UC, 84-68. Aside from the two-game suspension, Taburnal had to pay a fine of P10,000, and do four hours of community service. Although Taburnal already publicly apologized from the incident, Velez wants to remain vigilant because this kind of acts can tarnish Cesafi’s reputation. READ: CRMC Mustangs coach on Taburnal’s suspension: This will be a learning experience Serious business “In Cesafi, we mean serious business, we instill discipline to our players, we impose the rules and regulations of Cesafi. So, to the fans and to the players, especially to the players, this is a good example of what we did,” said Velez. “Even if you’re not caught during the game, but we have the technical committee to do the review, on what transpired during the game. Under our rules, if you inflict bodily harm, we can impose sanction to the player, similar to what happened to Taburnal, even though he wasn’t caught and there was no whistle during the game, however, right after the incident, we reviewed the video, we found out he intentionally harmed Linares,” he said. READ: Gun-shy Patrick Yu pulls trigger late to anchor NU victory over La Salle Heckling fans Velez also warned the fans that they would get banned from watching the games at the Cebu Coliseum if they would be caught heckling. He said they would do this after the Cesafi officials received several complaints about the unruly behavior of some fans. “Before the start of the game, we addressed the fans, asking them to cheer and jeer, but not to heckle.....»»
External headwinds
The price shocks besetting Filipinos, now the main preoccupation of President Ferdinand “Bongbong” Marcos Jr., is a global phenomenon rippling down to the nation. Greatly affected are rice prices that had surged with the government hoping to tame them through price caps of P41 per kilo of regular-milled and P45 for well-milled grains. In its latest review of the domestic fiscal situation, an International Monetary Fund team said that while the economy has emerged from the pandemic strongly, it now faces “a confluence of global shocks.” Growth moderated from 7.6 percent in 2022 to 4.3 percent in the second quarter of 2023, which IMF attributed “to a weak global economy and tightened policy settings.” The IMF, thus, recognized that the weak state of the global economy has had a strong impact on the country and that the response through the tightening of the money supply by the Bangko Sentral ng Pilipinas resulted in a growth slowdown. An acceleration in public spending and an improvement in exports is expected to lift the gross domestic product by year’s end to 5.3 percent in 2023 and 6 percent in 2024. The risks associated with the slowdown in the economy all originated beyond the Philippines. The IMF review said the main downside risks to the outlook include the persistently high global and domestic inflation that could necessitate a further tightening of monetary policy. This abrupt global slowdown may further weaken goods and services exports, intensifying geo-political tensions and depreciation pressures stemming from capital outflows under volatile market conditions. Recent surveys showed that rising inflation has been the major culprit for the weakening of the public ratings of President Marcos and other high officials. Consider the resolute actions taken to arrest the price upsurge, particularly the calculated measures to place a ceiling on retail costs while the National Food Authority intervenes to keep farmgate prices high. Another budding concern should be the weakening in foreign direct investments, or FDI, which needs to be reflective of the high confidence level of investors, according to Trade Secretary Fred Pascual. Pascual cited the capital being plowed back and the rising cost of business projects listed with the Board of Investments and other investment promotion agencies, which would mean optimism in long-term prospects. He said FDI numbers reflect investors’ decisions well before the funds were released that go into the BSP records. The past practices of market manipulators with political agendas were to hit the equities and foreign exchange markets while influencing the flow of investments. Keeping these economic indicators weak makes it easy for opportunists to paint the perception of a looming economic crisis where there is none. For instance, during the shortened term of President Joseph Estrada, the peso depreciation that caused a dip in the stock market and a supposed capital flight were thoroughly exploited to show mismanagement of government that resulted in his eventual downfall. The recent association of high prices and the plunge in the survey ratings of Marcos and other officials raises suspicions of another black operation, which had been heard since the new leadership assumed office. It is not farfetched that the playbook of EDSA 1 and 2 is underway to undermine the Marcos administration. Another element that should be considered is the growing insecurity of China amid the strengthened relations between the Philippines and the United States. Considering its economic clout, China can manipulate situations that may pave the way for political conditions to favor its interests. The accurate picture is that most of the problems confronting Marcos are outside his control since they emanate from beyond the border. The post External headwinds appeared first on Daily Tribune......»»
Business confidence up among Japan’s big manufacturers
Confidence among Japan's largest manufacturers rose as business conditions improved for the second-straight quarter, a key survey showed Monday. The Bank of Japan's closely watched quarterly Tankan survey is considered the broadest indicator of how Japanese businesses are faring. It reports the difference between the percentage of firms that are upbeat and those that see conditions as unfavorable. A positive figure means more businesses feel optimistic than pessimistic. Among major manufacturers, business confidence rose to plus nine from plus five three months earlier, the survey showed. The headline figure -- the highest level since June last year -- came after the first improvement in seven quarters in July, and beat market expectations of plus six. Optimism also grew among non-manufacturers, from plus 23 to plus 27, which was the sixth-straight quarterly improvement and the highest level since November 1991 and against market expectations of plus 24. Positive figures in the survey are "driven by a strong automotive industry buoyed by the resolution of the semiconductor supply shortage that has plagued the industry this year," Hiroyuki Ueno, senior economist at Sumitomo Mitsui Trust Asset Management (SuMi TRUST), said ahead of the survey's release. "In the non-manufacturing sector, the continued boom in inbound travel is supporting business confidence," he said. Analysts have said the BoJ's latest survey is among the key data affecting the central bank's policy decisions. The post Business confidence up among Japan’s big manufacturers appeared first on Daily Tribune......»»
Should BSP defend the peso?
Amid reports that the Philippine peso is now among the worst-performing currencies this quarter, the Bangko Sentral ng Pilipinas is said to be mulling over intervening to defend the currency at P57 to the US dollar in hopes of arresting its slide. However, it also said it won’t intervene much if the peso slides along with other currencies. In light of present-day realities, should the BSP proceed with an intervention? As we all know, the exchange rate policy is a critical aspect of a country’s economic strategy, influencing its trade balance, inflation rates, and overall economic stability. A fixed rate of P57 to the dollar implies stability and predictability for businesses engaged in international trade. A stable exchange rate can foster investor confidence, attract foreign direct investment, and stimulate economic growth. On the other hand, a flexible exchange rate allows for adjustments in response to changing economic conditions, potentially aiding in external competitiveness. One of the primary arguments in favor of defending the Philippine peso at P57 to the US dollar is stability. A fixed exchange rate provides businesses with a clear and unchanging benchmark for international transactions, reducing uncertainty and mitigating risks associated with currency fluctuations. This stability can attract foreign investors, offering a predictable business planning and investment decisions environment. Moreover, defending the peso at P57 may help control inflation. A stable exchange rate can contribute to price stability by preventing imported inflation. If the peso depreciates significantly, the cost of imported goods and services will rise, leading to higher inflation rates. By defending the peso at P57, the central bank can act as a bulwark against inflationary pressures, ensuring the currency’s purchasing power remains relatively constant. In terms of trade dynamics, a fixed exchange rate can be advantageous. A strong and stable peso makes imported goods more affordable for consumers, contributing to a higher standard of living. Additionally, it can encourage domestic industries by making exports more competitive in international markets. This could lead to increased export-led economic growth, job creation, and reduced trade deficits. While defending the Philippine peso at P57 to the US dollar offers certain advantages, there are also compelling arguments against such a fixed exchange rate. One major concern is the loss of monetary policy autonomy. In a fixed exchange rate regime, the central bank’s ability to independently conduct monetary policy is limited, as it must adjust interest rates to maintain the targeted exchange rate. This lack of flexibility can be a significant drawback, especially in the face of changing economic conditions. Furthermore, a fixed exchange rate may not reflect the true market equilibrium. If the peso is overvalued at P57 to the dollar, it could lead to a loss of competitiveness for Philippine exports. This might hinder economic growth in the long run as industries struggle to compete globally. Additionally, an overvalued currency could contribute to persistent trade deficits, as the cost of imports remains relatively low. Another consideration is the potential for speculative attacks. If market participants believe that the fixed exchange rate is unsustainable, they may engage in speculative activities to profit from an anticipated devaluation. This can lead to increased pressure on the central bank’s foreign exchange reserves, making it challenging to maintain the targeted exchange rate. In conclusion, whether the central bank should defend the Philippine peso at P57 to the US dollar is nuanced, requiring careful balancing of economic objectives. While a fixed exchange rate can offer stability, attract investment, and control inflation, it comes at the cost of reduced monetary policy autonomy and potential distortions in trade dynamics. Ultimately, the central bank must consider the broader economic context, international market forces, and the long-term sustainability of its exchange rate policy. Flexibility and adaptability may be vital in navigating the complexities of the global economic landscape while fostering a resilient and competitive domestic economy. The post Should BSP defend the peso? appeared first on Daily Tribune......»»
Concepcion counters downtrends, stays optimistic on economy
Go Negosyo founder Joey Concepcion remains optimistic about the country’s economy despite a slight reduction in business confidence and growth forecasts......»»
From Niño Muhlach to today’s child wonders: The kids are all right
This is not a tribute piece to my favorite Annette Bening and Julianne Moore movie. But the movie title is the most appropriate description for all the Filipino child stars that have been amazing and wonderful on the silver screen and television, and that have made a lasting impact on the Generation X demographic (that includes me, a proud Gen Xer). This also serves as a warm welcome and mabuhay to the latest set of kids who are set to spread joy and bring their own kind of magic to our entertainment scene. The most important child actor in Philippine movie history, bar none, is Niño Muhlach. The nephew of movie queen Amalia Fuentes and cousin of Aga Muhlach had the charisma, confidence, talent and star quality that was never before seen in any child actor this side of Hollywood. Adjectives such as precocious, innocent and lovable captured perfectly the child wonder like no other. His stellar reign during the mid-‘70s to to the mid-‘80s was solid and supreme, with box office hits, endorsements and epic collaborations, with, among others, the late great King of Philippine movies, Fernando Poe Jr. in Ang Leon at Ang Kuting, movie queen Vilma Santos in Darna at Ding, and the one and only Comedy King, Dolphy, in the movie that is now considered a pink motion picture classic, Ang Tatay Kong Nanay. Muhlach became the standard by which all Filipino child stars have since been measured. The after-Niño child wonders include Aiza Seguerra, Eat Bulaga’s biggest child discovery from the show’s Little Miss Philippines contest, who achieved almost the same footing and popularity as the original; Matet de Leon, Seguerra’s closest rival; the other EB boy finds Steven Claude Goyong and BJ Forbes; and last but not least, everybody’s lovable one-time Aling Maliit, Ryza Mae Dizon. Credit must be given to the parents, guardians and support system of the kids mentioned here because their popularity did not spoil them. They were never branded as juvenile delinquents, becoming responsible adults who found what made them truly happy and content. A handful of them are still in show business, now working as competent and respected artists, while others are living private and fruitful lives. Interesting kiddie show Following in the footsteps of these league of extraordinary child wonders are Sebreenika Santos, Honey Love Johnson, Cheska Maranan and Tom Leaño. These clever kids are the hosts of Kids: Toy Kingdom Show, an online program with a second season airing by end-September. What makes this kiddie show interesting, according to its resident uya Tom, is that “All of us are given the opportunity to play with different toys, whether they are the latest finds or vintage collections. I like the fact that our show, ginigising ‘yung imagination and creativity ng mga bata. We hope as they see us play with the toys, ‘yung audience namin, sila rin, they will close whatever gadgets they have and play, use their imagination and interact with other kids.” Leaño also looks forward to doing Filipino games. “From what I know, aside from playing with toys, we will also be doing and participating in Filipino games like the patintero, luksong baka, luksong lubid, piko, tumbang preso and many more. I believe that these games build character, discipline, diskarte and genuine friendships. Gusto namin na ‘yung mga bata will discover the fun in these games at hindi lang sila laging nakaharap at nakababad sa computers at gadgets nila.” The girls’ unanimous toy of choice is Barbie. They like dressing up their dolls and pretend that Barbie converses with her friends. They are also fond of toys that allows them to build, create and think, and giggle and laugh with friends. The kids in the show are appreciative of the fact that aside from all the playing and toys, their hosting talents are also being honed, and that they learn plenty from listening and observing during the tapings and being surrounded by the community of artistic and creative people that bring the show to life. We can safely say that these child actors are all right, and that in time, we will witness their own blossoming — a welcome addition to the adorable roster of Filipino showbiz child sensations through the years. The post From Niño Muhlach to today’s child wonders: The kids are all right appeared first on Daily Tribune......»»
EU businesses ‘questioning their position’ in China — trade commissioner
European businesses in China are increasingly questioning their positions in the face of tough new security laws and a politicization of trade, an EU commissioner warned in Beijing on Monday. "European companies are concerned with China's direction of travel," Valdis Dombrovskis said in a speech at the capital's Tsinghua University. "Many are questioning their position in this country." He pointed to a new foreign relations law and a recent update to China's anti-espionage laws as being of "great concern to our business community". "Their ambiguity allows too much room for interpretation," he warned. "This means European companies struggle to understand their compliance obligations: a factor that significantly decreases business confidence and deters new investments in China," Dombrovskis said. The EU trade commissioner is on a multi-day visit to the world's second-biggest economy, where he is set to meet senior economic officials and press the bloc's case that it is not seeking an economic decoupling from China. His trip follows a report by the Chamber of Commerce of the European Union last week that showed business confidence was at one of its lowest levels in decades. "For decades, European companies thrived in China," the Chamber's president Jens Eskelund said. But, after three "turbulent" years, he said, "many have re-evaluated their basic assumptions about the Chinese market". And it comes in the face of mounting trade tensions between the EU and China, following Brussels' decision to launch a probe into Beijing's electric car subsidies. The investigation could see the EU try to protect European carmakers by imposing punitive tariffs on vehicles it believes are unfairly sold at a lower price. The day after that announcement, the Chinese commerce ministry hit back at the EU's "naked protectionism", and said the measures "will have a negative impact on China-EU economic and trade relations". Speaking in Beijing on Monday, Dombrovskis insisted China remained an attractive investment opportunity for European businesses. "The EU and China both benefited immensely from being open to the world," he said. "Trading and cooperating across borders helped to shape our economic and geopolitical strength." But, he said, growing challenges for business risked turning "what many saw as a 'win-win' relationship in past decades could become a 'lose-lose' dynamic in the coming years". Ukraine war China's refusal to condemn Russia's war in Ukraine also poses a "reputational risk", he said. Beijing's position "is affecting the country's image, not only with European consumers but also businesses", he said. China has sought to position itself as a neutral party in the Ukraine conflict while offering Moscow a vital diplomatic and financial lifeline as its international isolation deepens. Russian leader Vladimir Putin is due to visit China next month. "China always advocates for each country being free to choose its own development path," Dombrovskis said. "So it's very difficult for us to understand China's stance on Russia's war against Ukraine, as it breaches China's own fundamental principles." The post EU businesses ‘questioning their position’ in China — trade commissioner appeared first on Daily Tribune......»»
Pag-IBIG members’ record-high savings up 11% to P59.52B
Pag-IBIG Fund members collectively saved P59.52 billion in January to August this year, growing 11.45 percent year-on-year and setting a new record for the highest amount saved by members for any January to August period. “We are happy to see that more Filipino workers recognize the importance of saving and are choosing to save with Pag-IBIG Fund. The record high in Pag-IBIG members’ savings collected from January to August 2023 shows their continuing trust and confidence in us and in our programs,” said Secretary Jose Rizalino L. Acuzar, who leads the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees. Good news “This is good news because as our collection increases, the more funds we are able to utilize for the benefit of our members who seek to apply for home loans and short-term loans. All these are in line with the directive of President Ferdinand Marcos Jr. to improve the Filipino workers’ access to finance,” he continued. Meanwhile Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta noted that the growth in members’ savings collected were seen in both the agency’s mandatory Regular Savings and its voluntary MP2 Savings. Collections for the Pag-IBIG Regular Savings reached P28.03 billion, a seven percent increase from the P26.16 billion collected during the same period in 2022. Popular MP2 savings On the other hand, the agency’s popular MP2 Savings reached P31.50 billion, a 16 percent increase from the P27.25 billion collected in January to August last year. In 2022, the Pag-IBIG Regular Savings earned an annual dividend rate of 6.53 percent, while the MP2 Savings posted an annual return rate of 7.03 percent. “The continued growth of our members’ savings is truly remarkable. We are grateful to the business community for responsibly remitting the Pag-IBIG contributions of their employees and their counterpart share on time. We are also thankful to our members for their trust in saving with Pag-IBIG — by saving more than the required P100 monthly contribution under the Pag-IBIG Regular Savings, and by continuing to save in our MP2 Savings,” Acosta said. “This trust is clearly displayed by the amount voluntarily saved by our members, which has in fact surpassed the amount of mandatory savings we have collected. That is why we remain steadfast in our commitment to prudently and excellently manage each and every hard-earned peso that our members have entrusted us, and provide their savings with the best possible returns,“ she said. The post Pag-IBIG members’ record-high savings up 11% to P59.52B appeared first on Daily Tribune......»»