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Jollibee invests $28 million in beverage tech firm
Filipino-owned Asian food conglomerate Jollibee Foods Corp. is investing $28 million for a 10 percent stake in beverage technology company Botrista Inc. to support the growth of its coffee and tea business......»»
Sy family invests P5 billion in Megawide affiliate
The Sy family is once again playing a big brother role to a company led by businessman Edgar Saavedra, this time investing in Megawide’s affiliate renewable energy real estate investment trust......»»
BPI to sell its entire 15% GoTyme Bank stake back to the Gokongweis
Zobel Family banking unit BPI disclosed that its board of directors has approved the sale of BPI’s stake in GoTyme Bank to a subsidiary of JG Summit and a company called Giga Investment Holdings Pte. Ltd. at a price of P1.20/share......»»
Biden to Host Japan PM Kishida, Philippines President Marcos
WASHINGTON - President Joe Biden will host Japanese Prime Minister Fumio Kishida and Philippines President Ferdinand Marcos Jr. for a White House summit next month amid growing concerns about North Korea's nuclear program, provocative Chinese action in the South China Sea and differences over a Japanese company's plan to buy an iconic American steel company.White House press secretary Karine Jean-Pierre in a sta.....»»
China in 2023: Xi doubles down on his 'struggle'
Beijing [China], December 25 (ANI): Throughout 2023, China struggled to emerge from under COVID-19's shadow, after the Chinese Communist Party (CCP) inexplicably reversed course on its policy of draconian lockdowns at the end of 2022. Nobody really knows how many died in the explosive surge in COVID infections, but the predictive science intelligence company Airfinity estimated the death toll as between 1.3 and 2.1 millio.....»»
China in 2023: Xi doubles down on his 'struggle'
Beijing [China], December 25 (ANI): Throughout 2023, China struggled to emerge from under COVID-19's shadow, after the Chinese Communist Party (CCP) inexplicably reversed course on its policy of draconian lockdowns at the end of 2022. Nobody really knows how many died in the explosive surge in COVID infections, but the predictive science intelligence company Airfinity estimated the death toll as between 1.3 and 2.1 millio.....»»
House questions SMNI’s China TV partnership
A House panel yesterday questioned the partnership of broadcasting company Sonshine Media Network International with state-run Chinese Global TV Network, citing the dispute over the West Philippine Sea......»»
Global firms upbeat about trade, investment prospects in China
© Provided by Xinhua TIANJIN, Nov. 25 (Xinhua) -- Thai businessman Yocha Sriwan is working to open more sale channels for his company's herbal products, employing his Chinese language skills at an international trade fair in north China's Tianjin Municipalit.....»»
Global firms upbeat about trade, investment prospects in China
© Provided by Xinhua TIANJIN, Nov. 25 (Xinhua) -- Thai businessman Yocha Sriwan is working to open more sale channels for his company's herbal products, employing his Chinese language skills at an international trade fair in north China's Tianjin Municipalit.....»»
Security risk
Nepal has just joined the growing list of countries that have banned video sharing app TikTok, which is owned by Chinese company ByteDance......»»
Lenovo considers Phl top regional mart
Even if neighboring countries in Southeast Asia have the advantage of using advances in technology ahead, the Philippines remains an integral market according to an official of Lenovo. Lenovo, a Chinese multinational technology company specializing in designing, manufacturing, and marketing gadgets, software, business solutions, and related services, sees strong demand for its products in the Philippines. “The only question is how the consumers get the technology. The pandemic has even made the demand in the Philippines surge because of the digital transformation, unlike pre-pandemic where everyone is scrambling,” according to Gian Carlo Nogales, a representative of the Infrastructure Solutions Services Sales of Lenovo Philippines “Right now, because of the transformation, growth is very evident. In other words, investments, including Lenovo technologies are still in demand in the market,” Nogales said at the sidelines of the VST ECS CXO Tech Summit at the Dusit Thani in Mactan Cebu. “In terms of devices, the Philippines is actually doing well,” he added. Last August, the company said that over the next three years, Lenovo is committing a further $1 billion in investment for artificial intelligence that will focus on providing AI devices, AI-ready, and AI-optimized computing infrastructure, and embedded AI-generated content into the intelligent solutions of vertical industries to help customers improve their productivity. Lenovo in September 2023 has unveiled new cutting-edge technology tools and essentials tailored to empower the dynamic, evolving needs of today’s business end-users. It said that the new monitor, software, and accessories are not only designed to boost the capabilities of remote and hybrid workforces but also address significant challenges faced by businesses in the digitalization trend. The post Lenovo considers Phl top regional mart appeared first on Daily Tribune......»»
Lenovo treats Phl as top Southeast Asian market
Even if neighboring countries in the Southeast Asian region are advantageous in terms of being technology savvy, the Philippines remains an integral market according to an official of Lenovo, a Chinese multinational technology company specializing in designing, manufacturing, and marketing consumer electronics, personal computers, software, business solutions, and related services. “We see strong demand for the Philippines, the only question is how the consumers get the technology. The pandemic has even made the demand for the Philippines surge because of the digital transformation, unlike pre-pandemic where everyone is scrambling. Right now, because of the transformation, growth is very evident. In other words, investments, including Lenovo technologies are still in demand in the market,” according to Giancarlo Nogales from the Infrastructure Solutions Services Sales of Lenovo Philippines at the sidelines of the VST ECS CXO Tech Summit at the Dusit Thani in Mactan Cebu. “In terms of devices, the Philippines is actually doing well,” he added. Last August, the company said that over the next three years, Lenovo is committing a further $1 billion in investment for artificial intelligence that will focus on providing AI devices, AI-ready, and AI-optimized computing infrastructure, and embedded AI-generated content into the intelligent solutions of vertical industries to help customers improve their productivity. Lenovo in September 2023 has unveiled new cutting-edge tech tools and essentials tailored to empower the dynamic, evolving needs of today’s business end-users. It said that the new monitor, software, and accessories are not only designed to boost the capabilities of today’s remote and hybrid workforces but also to address significant challenges faced by businesses as they digitize operations across departments. “Lenovo research shows that managing a remote workforce and global teams remain central tasks for CIOs.1. That is why the new offerings integrate impressive processing power, immersive 3D, and advanced security to create a unified, human-centered experience,” the company said. Further, Nogales added that sales for Lenovo in the Philippines will continue to soar as the country has a bigger population which connotes demand compared to other nations in SE Asia. What Lenovo can count on with the Philippines is the demand for laptops and tablets that are now being used by students, educators, workers, and even the government. “Actually, we have an ongoing engagement with the government sector. I was at an event with the DICT (Department of Information and Communications) and we had discussions with the Department of Education as well, but we still understand what they are looking for. Of course, with DepEd, it’s a big agency, and what I can say is we are working with them across whatever we can offer—cloud technologies, among others,” he told the DAILY TRIBUNE. Nogales said he sees an ongoing digital transformation within organizations and will continue over the coming years. Digital transformation is an ongoing journey Meanwhile, VST ECS president and CEO Jimmy Go stressed that in the ever-evolving world of technology, organizations are charting a course - through a landscape that has seen profound advancement in recent years. “It's important to understand that digital transformation is not a one-time event but an ongoing journey. Every day, we bear witness to the unveiling of new digital technologies. In this dynamic environment, the lines between the physical and digital worlds are blurring, creating a phenomenon known as phygital convergence," he said. He said organizations nowadays stand at the threshold of a remarkable technological revolution. “Generative AI is the talk of the town with Chat GPT and other AI, offering organizations the power to intelligently automate customer experiences and streamline internal operations. The implications of this technology are far-reaching. Microsoft is launching CoPilot and most software applications are incorporating AI in their applications. Gartner predicts that by 2030, a staggering 80 percent of people will interact with smart robots daily, and in just two years, these smart robots will become workforce partners for 90 percent of global companies,” he said. Further, Go stressed that AI and machine learning, once a novel concept, have become integral to the products and services offered by major companies. “A mere decade ago, we were learning to communicate with machines. Today, machines understand and adapt to our language, erasing the boundaries between humans and technology. While AI is currently the headline in the tech world, we must not lose sight of the critical need to modernize our IT infrastructure,” he stated. For organizations to embrace technology, he said it’s a pivotal step in allowing organizations to embrace the latest technology trends, including Multi Clouds, Quantum computing, Data explosion, RPA, Generative AI, and more. “Investments in Connectivity solutions, Digital Infrastructure, Cloud technologies, Cybersecurity, Big data, Storage, Automation, and Collaboration tools remain vital to prepare for the ever-evolving Tech landscape. In the Israel-Hamas and Ukraine-Russia wars, Technology plays a very important and critical role in their war strategies. Computers, AI, Starlink, and drones are heavily used in their strategies,” he said. The post Lenovo treats Phl as top Southeast Asian market 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......»»
Beer-peeing scandalizes China brewer Tsingtao
One of China’s biggest beermakers says it has opened an investigation after a video appearing to show a factory employee urinating on raw ingredients went viral this week. The clip, published online on Thursday, purportedly shows a male worker at a Tsingtao Brewery Co. warehouse clambering into a high-walled container and relieving himself onto its contents. The footage circulated widely on Chinese social media, racking up tens of millions of views on the popular platform Weibo. Tsingtao said on Friday that it had contacted the police over the incident and an investigation was ongoing. “Our company attaches high importance to the relevant video that emerged from Tsingtao Brewery No. 3 on 19 October” the beermaker said in a statement. “We reported the incident to the police at the earliest opportunity, and public security organs are involved in the investigation,” it added. “At present, the batch of malt in question has been completely sealed. The company continues to strengthen its management procedures and ensure product quality.” Tsingtao, China’s second-largest brewer, is one of the country’s best-known beverage brands, and its tall bottles of crisp lager are a fixture of bars and restaurants across East Asia. In recent years, the Hong Kong-listed company has sought to capitalize on the changing tastes of younger Chinese drinkers by diversifying into craft ales and other products. WITH AFP The post Beer-peeing scandalizes China brewer Tsingtao appeared first on Daily Tribune......»»
Top China beermaker opens probe after worker urination video
One of China's biggest beermakers said it had opened an investigation after a video appearing to show a factory employee urinating on raw ingredients went viral this week. The clip, published online on Thursday, purportedly shows a male worker at a Tsingtao Brewery Co. warehouse clambering into a high-walled container and relieving himself onto its contents. The footage circulated widely on Chinese social media, racking up tens of millions of views on the popular platform Weibo. Tsingtao said on Friday that it had contacted the police over the incident and an investigation was ongoing. "Our company attaches high importance to the relevant video that emerged from Tsingtao Brewery No. 3 on October 19," the beermaker said in a statement. "We reported the incident to the police at the earliest opportunity, and public security organs are involved in the investigation," it added. "At present, the batch of malt in question has been completely sealed. The company continues to strengthen its management procedures and ensure product quality." Many social media users reacted to the video with anger and voiced support for one of China's best-known beverage brands. "I suggest the company takes this man to court and gets him to pay compensation for the damages," read one popular Weibo response to the company's statement. "Investigate this thoroughly! Always stand up for our national champion brands!" wrote another user. Hong Kong-listed Tsingtao is China's second-largest brewer, and its tall bottles of crisp lager are perennial fridge-fillers in bars across East Asia. In recent years, the company has sought to capitalise on the changing tastes of younger Chinese drinkers by diversifying into craft ales and other products. Some web users were not about to pass up the chance to make a wry quip about the country's famously light and fizzy mass-market brews. "I've always said the beer here is like horse pee. Turns out I was wrong," one of them commented. "Thanks, I think I'll have wine instead," quipped another. The post Top China beermaker opens probe after worker urination video appeared first on Daily Tribune......»»
Economic Watch: Jingdezhen ceramics shine bright under BRI
NANCHANG, Oct. 20 (Xinhua) -- At an ongoing expo held in Jingdezhen, a world-famous "porcelain capital" in east China's Jiangxi Province, a set of glazed ceramic jars stole the spotlight. The monochrome porcelain, named Dialogue, was designed by overseas designers and produced by a local ceramic company. "The series has mixed together Chinese ceramic culture and foreign design, and that is how the series.....»»
4 Chinese working illegally nabbed
The Bureau of Immigration announced on Friday in Manila the arrest of four Chinese nationals in separate operations in Palawan. The four were identified as Lin Yongzhen, 45; Zhang Haicong, 49; Lin Tsung-Te, 58; and Zhang Jinfei, 47. They were arrested over immigration-related violations, including working without the proper permits, misrepresenting themselves as Filipino citizens, and involvement with a crime group. According to BI Intelligence Division Chief Fortunato Manahan Jr., the operations were conducted in coordination with government intelligence units, the Armed Forces of the Philippines, and the National Bureau of Investigation. The foreigners were held at the BI’s detention facility in Bicutan, Taguig, while facing deportation cases. Lin Yongzhen and Zhang Haicong were arrested in El Nido. Lin was found to be working under a tourist visa, while Zhang was found to be working under a working visa under a separate company. Zhang Haicong and Lin Tsung-Te, on the other hand, were arrested in Taytay. Zhang possessed a working visa, but he was working at a different worksite. Lin failed to present his passport and was found to have been overstaying since 2016. Meanwhile, Zhang Jinfei was arrested in Puerto Princesa. He was found to be working in the area despite holding a working visa in a different location, in violation of immigration rules. The BI said the Chinese were all found to be working in fisheries near naval bases. The post 4 Chinese working illegally nabbed appeared first on Daily Tribune......»»
Unlikely partners make media inroads
Media Serbisyo Production Corp. or MSPC — a joint venture between ABS-CBN Corp. of the Lopez family and Prime Media Holdings Inc. owned by House Speaker Martin Romualdez — is eyeing to launch round-the-clock operations to widen its nationwide reach. MSPC president Marah Capuyan, through a stock report by Prime Media on Thursday, disclosed that the company is gearing up to expand its operations to better serve the viewing public. “(We anticipate) a forthcoming milestone, including a shift to 24/7 operations and extending their reach to platforms such as YouTube and other social media networks,” Capuyan said. Public service broadcasting “TeleRadyo Serbisyo and DWPM Radyo 630 will continue to redefine public service broadcasting with an unwavering commitment to the entire Philippines and Filipinos worldwide,” she added. Since launching in June, MSPC conveyed that TeleRadyo Serbisyo and DWPM Radyo 630 News Exchange’s partnership successfully tapped 30 regional radio stations nationwide. Partners to revolutionize news connectivity As such, the company is optimistic about looking for more partners to “revolutionize news connectivity from Luzon to Mindanao.” According to MSPC, Teleradyo Serbisyo, available on cable TV, is “already starting to make a mark in the whole Philippines and Metro Manila in particular, based on Kantar TV Audience Measurement with ratings steadily going up within the third quarter of 2023.” MSPC is also airing “Gising Pilipinas,” hosted by Alvin Elchico and Doris Bigornia, which guides Filipinos through their mornings with news and insights, as well as “Tatak: Serbisyo,” hosted by Bernadette Sembrano and Winnie Cordero, among others. Prime Media serves as a majority shareholder of the MSPC with 51 percent investment, while ABS-CBN takes up the remaining 49 percent. The post Unlikely partners make media inroads appeared first on Daily Tribune......»»
CdO biz group seeks capital via tax perks
The Cagayan de Oro Chamber of Commerce and the City Government have enticed various stakeholders to ramp up investments in the city. During the Cagayan de Oro Investment Forum on Thursday, George Sio Goking, city councilor and representative of CdO Mayor Rolando Uy, said the province now is very business-friendly, adhering to the mandates of the Ease of Doing Business Act. “We are the first in Mindanao to be commended by the Anti-Red Tape Authority. Also, the business climate in Cagayan de Oro is conducive to investments as we provide enough incentives to our investors. The government is open to the needs of our investors,” he said in an interview. Good business prospects exist in Cagayan de Oro City, according to Goking. Growth industries Among the growth sectors are the business process outsourcing and IT-BPM sector. “We have enough land there to transform into industrial firms. CDO has 60 hectares of land ready for development through private-public partnerships. To date, the City Government of Cagayan de Oro is offering investment opportunities such as the P4.5 billion Waste-to-Energy Project, a priority urban infrastructure project under the Sustainable Urban Infrastructure Development for Metro Cagayan de Oro; the Commercial Land and Lease at The New City, which already begun with the P25 billion 20,000-unit mid-rise housing project of the Department of the Human Settlements and Urban Development; and P4 billion worth Development, Construction and Operation of the Cagayan de Oro City Sewerage project. Meanwhile, private company Gedah Holdings, Inc. has also poured in a P27 billion project for the Development of Paraiso Hill, a 39-hectare master planned and mixed-use estate that is part of the East-Uptown Urban Development Area. Another private firm, Philippine Aerial Ropeway and Cable Transit Corporation has also placed P8.8 billion worth of investments in the development, construction and operation of the Cagayan de Oro Aerial Mass Transit System. The post CdO biz group seeks capital via tax perks appeared first on Daily Tribune......»»
US slaps TV provider with first-ever space debris fine
US authorities said they have issued a "breakthrough" first-ever fine over space debris, slapping a $150,000 penalty on a TV company that failed to properly dispose of a satellite. On Monday the Federal Communications Commission (FCC) came down on Dish for "failure to properly deorbit" a satellite called EchoStar-7, in orbit since 2002. "This marks a first in space debris enforcement by the Commission, which has stepped up its satellite policy efforts," the FCC, which authorizes space-based telecom services, said in a statement. As the geostationary satellite came to the end of its operational life, Dish had moved it to an altitude lower than the two parties had agreed on, where it "could pose orbital debris concerns," the FCC said. The commission said Dish, a US satellite television provider, pledged in 2012 to elevate the satellite to 300 kilometers (190 miles) above its operational arc. But with fuel running low, it retired the satellite at an altitude just over 120 kilometers above the original arc. "As satellite operations become more prevalent and the space economy accelerates, we must be certain that operators comply with their commitments," said FCC enforcement bureau chief Loyaan Egal. "This is a breakthrough settlement, making very clear the FCC has strong enforcement authority and capability to enforce its vitally important space debris rules." The FCC said the settlement "includes an admission of liability from the company and an agreement to adhere to a compliance plan and pay a penalty of $150,000." In a statement Tuesday, Dish appeared to counter the FCC over disposal requirements, and argued that the commission's enforcement arm made "no specific findings that EchoStar-7 poses any orbital debris safety concerns." "As the Enforcement Bureau recognizes in the settlement, the EchoStar-7 satellite was an older spacecraft that had been explicitly exempted from the FCC's rule requiring a minimum disposal orbit," a Dish spokesperson said in a statement. "DISH has a long track record of safely flying a large satellite fleet and takes seriously its responsibilities as an FCC licensee." Collision risks The US aviation regulator, FAA, recently announced its intention to reduce space debris by requiring private companies to dispose of the upper stages of rocket launch vehicles by, for example, returning them to the Earth's atmosphere or moving them to a less congested "graveyard orbit." The new regulation, which has yet to be definitively adopted, already exists for government space missions. "If left unchecked, the accumulation of orbital debris will increase the risk of collisions and clutter orbits used for human spaceflight and for satellites," the Federal Aviation Administration said. The European Space Agency estimates that around one million pieces of debris larger than a centimeter -- big enough to "disable a spacecraft" -- are in Earth's orbit. They are already causing problems, from a near-miss in January last year involving a Chinese satellite, to a five-millimetre hole knocked into a robotic arm on the International Space Station in 2021. With satellites now crucial for GPS, broadband and banking data, collisions pose significant risks on Earth. The post US slaps TV provider with first-ever space debris fine appeared first on Daily Tribune......»»