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Palace: Singapore’s Dyson commits P11-b investment in Phl by 2024
Malacañang on Saturday said that the Singapore-based multinational technology firm Dyson is about to invest around P11 billion in the Philippines which is expected to generate more than 1,000 jobs by 2024. This is after President Ferdinand Marcos Jr. had a meeting with the Dyson executives officials and confirmed an investment pledge from the company for over the next two years, Presidential Communications Office Secretary Cheloy Garafil said in a statement. Garafil said the investment plan would be used for the establishment of a new factory and a new research and development center in the Philippines, including the expansion of the company’s staff, software, and other services. She also cited that Dyson emphasized that their investment would generate around 1,250 employees and “would move more contract manufacturing into the Philippines by the middle of 2024, or the second or third quarter of the year.” Marcos welcomed Dyson’s interest in investing in the Philippines. “So, well, let’s see with all those that we have, that we can do,” the President said, adding that “this will be very interesting” for the Philippines and the Filipino people. Marcos emphasized that their investment would mean hiring more software engineers and other engineering graduates. For their part, Dyson officials told Marcos that they are very proud to be in the Philippines already as “they emphasized that they have a significant number of operations in the country.” Dyson only has a factory in the Philippines to produce its electrical motors to date. Garafil said Dyson decided three or four months ago to expand its operations in the country. In a news release on its website in May, Dyson noted that the Philippines Technology Centre, representing an investment of PHP 11 billion, will span the equivalent of 92 basketball courts, and will bring together Dyson’s research, development, and advanced motor manufacturing capabilities under one roof,” to be located in City of Sto. Tomas, Batangas, and scheduled to be operational by the first half of 2024. “It is thought to be one of the largest investments, and most advanced technology manufacturing centers, in the country and underscores the growing importance of the Philippines in Dyson’s global ambitions,” the company said. Dyson R&D (research and development) teams in the Philippines will be focused on software, AI, robotics, fluid dynamics, and hardware electronics, the company said. “These fields of expertise are critical for Dyson’s high-performing products, from robotic technologies to air enhancement technologies, and beauty products, such as the Dyson Supersonic hair dryer, which are increasingly enabled by software, sensors, and connectivity,” it said. Dyson said the architecture of the Batangas campus will prioritize air quality, natural light, and greenery to support collaboration and the generation of new ideas. It will include leisure and sports areas, as well as laboratories and offices. In a video message, House of Representatives Speaker Ferdinand Martin Romualdez said he and other Philippine government and business leaders joined Marcos in Singapore to review current legislation, particularly on laws that govern the treatment and the appreciation of foreign investments into the country. “We will do everything to amend the law to make the country more open to foreign direct investment. So, we will do everything in accordance with the) Foreign Investment Act and the Retail Trade Liberalization to open up the economy to foreign direct investments,” Romualdez said mixed in Filipino. Dyson’s headquarters in Singapore is a hub for its research and engineering teams, as well as commercial, advanced manufacturing, and supply chain operations. The post Palace: Singapore’s Dyson commits P11-b investment in Phl by 2024 appeared first on Daily Tribune......»»
Kai Sotto s coach at TSF believes he s ready for the big time
The coach that guided Kai Sotto when he first went to the US believes that it's just a matter of time before the 7'2" Filipino teen phenom plays in the NBA. When Sotto decided to go to America to chase his NBA dream, he landed in Atlanta and played for The Skill Factory under coach Rob Johnson. In less than a year there, Johnson saw more than enough to believe that Kai is destined for the big time. After his stint at TSF, Sotto took a major step towards the NBA by signing with the G League, where he'll team up with other top prospects like top-ranked Jalen Green. "I believe the G League will be a great challenge for Kai. I believe he is prepared to play at that level," Johnson told the Olympic Channel. "He just needs to take advantage of the opportunities in front of him and continue to improve," he added. The level of play Kai will face in the G League will be different and far better. But based on his time at TSF, Johnson is confident that Sotto will be able to take everything in and come out as an evolved as an evolved player. "Kai has a great attitude about training, he is a gym rat. He loves finding out information to apply to his game and to help him improve," Johnson said. "Kai has great basketball IQ. He is easy to coach and understands instructions and concepts at a very high level," he added. — Follow this writer on Twitter, @paullintag8.....»»
Boxing trainer Domingo is confident Jerusalem will upset Shigeoka
CEBU CITY, Philippines — Veteran boxing trainer, Michael Domingo of ZIP Sanman Boxing Team, is confident that his prized ward Melvin “Gringo” Jerusalem will make a repeat of the latter’s January 2023 world title victory in Japan. The Cebu-based Jerusalem will face the defending World Boxing Council (WBC) world minimumweight champion, Yudai Shigeoka, in Nagoya,.....»»
Down Under Promotions supports ICC Bluehawks and BPBL
CEBU CITY, Philippines —The Sydney-bound Immaculada Concepcion College (ICC) Bluehawks senior men’s basketball team has earned the support of Down Under Promotions Sports and Events in their preparation for the Australian Chinese Basketball Association (ACBA). To recall, the ICC Bluehawks will represent the Philippines in the upcoming ACBA, which kicks off tomorrow. Besides the Philippines,.....»»
Who’ll be All-Star Game MVP?
Scottie Thompson, nursing a bad back, won’t be able to play for coach Tim Cone’s Team Japeth against coach Jorge Gallent’s Team Mark in the highlight of the PBA All-Star extravaganza at the University of St. La Salle gym in Bacolod City tonight......»»
Squires, Junior Altas play for all the marbles
Letran seeks to bury the ghost of Game 2 while University of Perpetual Help hopes to relive its glory as the two battle each other in Saturday’s rubber match at the Filoil EcoOil Arena that will determine who brings home the NCAA Season 99 junior basketball trophy......»»
NBTC: Possible pathway to Gilas
Laela Mateo, 15, headlines a bevy of US-based Filipino players making heads turn in the National Basketball Training Center with hopes of cracking the Gilas Pi.....»»
PSAA vows to serve as great platform for aspiring cagers
Count the Philippine School Athletic Association (PSAA) as another school-based basketball league that will guide and open opportunities for Filipino youth and help them reach their dreams of succeeding in basketball......»»
Cesafi: Bogo-based squads eye crucial wins on Thursday
CEBU CITY, Philippines– As the Cesafi basketball elimination round winds down, Bogo City-based squads, the Cebu Roosevelt Memorial College (CRMC) Mustangs, and the City of Bogo Science and Arts Academy (CBSAA) Trailblazers gun for crucial wins tomorrow, Thursday, in the Cebu Schools Athletic Foundation, Inc.’s (Cesafi) basketball tournament. Games would be held at the Cebu.....»»
Brownlee formula
The issue surrounding Justin Brownlee is a major blackeye to Philippine basketball. It is yet another heartbreaker for Filipinos, who were hoping and praying to see the national team reassert its dominance in the international arena. For the longest time, the Filipinos had struggled internationally. In the Asian Games, for instance, the Philippines emerged victorious in its first four editions — 1951 in New Delhi, 1954 in Manila, 1958 in Tokyo, and 1962 in Jakarta before suffering a string of frustrating finishes. The closest we got to the gold medal was in 1990 when the Basketball Association of the Philippines tasked the Philippine Basketball Association with assembling a team that would reclaim our Asian glory. It was a tall order at the time as the Philippines was coming off a bitter setback at the hands of Malaysia in the 1989 Southeast Asian Games in Kuala Lumpur. The BAP knew that only an Asian crown would soothe the pain of a nation craving revenge. But it didn’t happen. Coached by Robert “Sonny” Jaworski, the team bannered by Allan Caidic, Benjie Paras, Ramon Fernandez, Samboy Lim, and Chito Loyzaga surrendered to powerhouse China featuring Shan Tao and Ma Jian in the gold medal match. Eight years later, Tim Cone was given the marching orders to assemble another star-studded squad to represent the country in the Bangkok Asian Games in 1998. But like Jaworski, his bitter coaching nemesis at the time, Cone was also unsuccessful as his Centennial Team had to settle for bronze behind China and South Korea. In the next edition in Busan in 2002, hopes were high. Despite a sudden coaching change after American mentor Ron Jacobs suffered a stroke in the final stretch of preparations, Jong Uichico was still able to form a solid team that had a mix of Filipino-foreign stars like Asi Taulava, Eric Menk, and Rudy Hatfield, as well as homegrown stars like Olsen Racela, Kenneth Duremdes, and Danny Ildefonso. But fate wrote a cruel script. The Philippines was ahead, 68-66, in the final 23.9 seconds of the semifinal clash against South Korea. A victory would have sent the Filipinos to the gold medal match against China, while a setback would relegate them to a battle for bronze against Kazakhstan. Racela was at the charity stripe for a chance to ice the game and seal the victory. But he missed both free shots. In a shocking — and heartbreaking — turn of events, Korean gunner Lee Sang Min buried a long three-pointer off a broken play at the buzzer that sent the host country to the finals. The players were crushed while a river of tears flowed through the streets of Manila as the entire country couldn’t believe how merciless the basketball gods could be. Since then, Philippine basketball has been reduced to a mere footnote in Asian basketball. We bombed out of the medal podium in Doha in 2006 and Guangzhou in 2010. We even suffered international embarrassment when head coach Chot Reyes instructed naturalized player Marcus Douthit to shoot at our own basket in Incheon in 2014. In 2018, a legitimate National Basketball Association campaigner, Jordan Clarkson, came along and was billed as the hero who would save Philippine basketball. But he was unsuccessful. The Filipinos’ string of misfortunes continued as Gilas Pilipinas settled for fifth place. Then here came Brownlee, tapped to see action as a naturalized player in the Hangzhou Asian Games. The 35-year-old American was tasked to power a team already familiar to him — guys he had been playing with for more than five years. The coach — Cone — had been his mentor since he arrived in Manila in 2016 and led Barangay Ginebra San Miguel to six PBA titles while winning three Best Import honors. There was no honeymoon period to speak of. He hit the ground running. The result was impressive as Brownlee dropped 36 points to lead Gilas Pilipinas to a razor-thin 84-83 win over Iran in the quarterfinals, before dropping back-to-back three-point bombs in their miraculous 77-76 victory over host China in the semifinals. The Filipinos won their first gold medal in 61 years following a 70-60 victory over Jordan in the final, but an asterisk was attached to the victory after Brownlee tested positive for Carboxy-THC, a banned substance linked to the use of cannabis. At this point, it is unknown whether Brownlee will contest the findings or how long his possible suspension will be. What is clear is that Brownlee made a tremendous impact on Philippine basketball as he proved that the best way to win an international title is to field a naturalized player who is very familiar with the Filipinos’ style of play. Brownlee may not be as exciting and flashy as Clarkson or as tall as Douthit and Blatche, but he knows Philippine basketball like the back of his hand. It’s time for the Samahang Basketbol ng Pilipinas to create more Justin Brownlees by recruiting young foreign players who are willing to stay in the country for a longer period — not just to earn and play as imports in the PBA — but to win the hearts and minds of these basketball-crazy Filipinos. Brownlee’s professional career is in great peril, and we may not see him don the Gilas or Ginebra jerseys again. But we should always remember his most significant contribution to Philippine basketball. Nope, it wasn’t the incredible play he delivered against China or how he stood his ground against Rondae Hollis-Jefferson and the powerful Jordanians that led to the country’s first Asian Games title in 61 years. His most important contribution was the idea that to gain international success, the federation must recruit a naturalized player not based on skills, height, or popularity but on his love, respect, and dedication to the country he wishes to represent. The post Brownlee formula appeared first on Daily Tribune......»»
BoI endorses P19-B SteelAsia steel mill
The Board of Investments has endorsed the P19.3-billion Batangas steel mill project of SteelAsia Lemery Works Inc. in Lemery, Batangas to the green lane to expedite the processing and issuance of permits and licenses as a strategic investment. In a statement on Thursday, the BoI said it endorsed the 500,000 metric tons, or MT, section mill project, through Executive Order 18 for green lane priority. The project is scheduled to start its operation in July 2024, employing 600 personnel and workers from the local town and nearby areas. BoI Governor Marjorie Ramos-Samaniego with Executive Director Bobby Fondevilla and Director Ernesto delos Reyes Jr. led the awarding of the Green Lane Certificate of Endorsement to the officials of SteelAsia on 15 September 2023. Ramos-Samaniego added that through the faster process, BoI, in collaboration with the Department of Information and Communications Technology, will come up with an online portal for Green Lane’s facilitation of strategic investments. The project is the greenfield design, erection, and commissioning of the Philippines’ first sections of production, a state-of-the-art hot-rolling production line with an upstream integrated recycling-based steelmaking. The Philippines ranked 20th among top steel importers globally, due to the lack of steel manufacturers. Imports from China In 2022 alone, the Philippines imported about $5.23 billion worth of steel, $2.18 billion of which was imported from China. Local steel manufacturing is deemed insufficient to address the growing demand for the product, especially with the increasing consumption of sections from both infrastructure projects and private developments. “Green Lane will be very helpful to the company. We consider it as a “win” for the country and we will convert this privilege into action,” said Benjamin Yao, chairperson and CEO of SteelAsia, noting that his company commits to supporting the goals of the nation of developing more infrastructure projects. SteelAsia’s project has an import-substitution strategy targeting the large and fast-growing domestic market for the sale of the mills’ output. The plant will manufacture using electric arc furnace technology to refine steel which will be used to hot-roll steel sections such as H-beams, I-beams, I-channels, and unequal leg angle bars. The presence of local manufacturers aims to lower the cost of construction, shorten construction periods, and further spur growth in domestic construction. It will also give rise to ancillary industries, such as structural steel services including design, engineering, and built-up steel structures. The post BoI endorses P19-B SteelAsia steel mill appeared first on Daily Tribune......»»
Fisherfolk opposes Fisheries Code amendments
TACLOBAN CITY — Fisherfolks, civil society organizations and academic experts are calling on legislators to deny the proposal of the Bureau of the Fisheries and Aquatic Resources to amend the Fisheries Code and commercial fishing vessels in municipal waters. Regional Agriculture and Fisheries Council in Eastern Visayas chairperson Martha Cadano stressed that there were no consultations made with the local government units and other affected sectors before BFAR made the assessment and review of the Republic Act 10654 or the Philippine Fisheries Code. “The assessment and review of RA 10654 is not enough because there was no LGU participation. BFAR should have at least consulted the mayors of affected municipalities before it takes steps,” said Cadano. Cadano leads a community-based and women-led enterprise that processes sardines in Victoria, Northern Samar. In a statement, a broad coalition of academe, civil society and fisherfolk, asked President Ferdinand Marcos Jr. and members of the Congress and the Senate to deny BFAR’s proposal to allow commercial fishing inside the 15-kilometer municipal water zone of the sea. Senator Cynthia Villar, chair of the Senate Committee on Agriculture and Food and the primary author of RA 10654 or the Fisheries Code, as amended, commits towards enabling mechanisms for the strict implementation of the law. To recall, the BFAR conducted consultations in May and on 22 to 23 August and presented their proposed amendments to the Philippine Fisheries Code, among which are to allow commercial fishing as a rule rather than as an exception in the municipal waters, from 10.1 to 15 kilometers and in waters with the depth of 20 fathoms. The post Fisherfolk opposes Fisheries Code amendments appeared first on Daily Tribune......»»
Biden’s son Hunter indicted on gun charges
US President Joe Biden's son Hunter was indicted Thursday for illegally buying a gun when he was using drugs, casting a new shadow over his father's campaign for reelection next year. Hunter Biden, 53, was charged with two counts of making false statements when claiming on forms required for the 2018 gun purchase that he was not using drugs illegally at the time. A third charge said that, based on the false statements, he illegally possessed the gun during an 11-day period in October that year. If convicted on all three felony charges, Biden could in theory face 25 years in prison, though in practice they are seldom punished by any jail time. In attesting that he was not an unlawful user of drugs when he bought the Colt Cobra revolver, Biden "knew that statement was false," the Justice Department said. The indictment came two days after Republicans in Congress opened an impeachment probe against Democrat Joe Biden, alleging that when he was vice president he benefitted financially from his son's foreign business dealings. The legal troubles of Hunter Biden present a target for political rivals of his father, who is bidding for a second term in the White House. Hunter is a Yale-trained lawyer and lobbyist-turned-artist, but his life has been marred by alcoholism and crack cocaine addiction. Without offering any evidence, Republicans have accused Biden's Justice Department of protecting his son and have accused Weiss, a Republican appointee, of going easy on Hunter. Representative James Comer, a Republican from Kentucky who will be leading the impeachment inquiry, welcomed the filing of the gun charges, calling it a "very small start." "Mountains of evidence reveals that Hunter Biden likely committed several felonies and Americans expect the Justice Department to apply the law equally," Comer said. Twice-impeached former president Donald Trump reacted on his Truth Social platform. "This, the gun charge, is the only crime that Hunter Biden committed that does not implicate Crooked Joe Biden," he said. - Plea deal collapsed - But a leading Democrat, Keisha Lance Bottoms, ex-mayor of Atlanta and a former senior adviser to Joe Biden, questioned why Hunter had been charged. "Can anyone tell me how many people have been federally indicted for purchasing a gun while dealing with substance abuse issues?" Bottoms said on X, formerly known as Twitter. "I don't know the answer, but in my over 29 years as an attorney, I have never heard of it." The gun charges were filed by Justice Department special counsel David Weiss, who has been investigating Hunter Biden since 2018 over various allegations, mostly related to his overseas business deals. Two months ago a plea deal between Biden and Weiss, covering the gun charge as well as alleged tax violations, went sour. Biden agreed to plead guilty in federal court in Delaware to two minor tax charges. In exchange he was offered probation, as he had already paid what he owed the government along with penalties. Weiss agreed to suspend the felony gun charge if Biden completed "pretrial diversion," which often involves counseling or rehabilitation. But in a dramatic July 26 hearing, the deal collapsed over whether Biden would have been immune from any other charges also investigated by Weiss, including possible crimes related to his business dealings in Ukraine, China and elsewhere. The judge mentioned the possibility that Biden could be charged as having acted as a lobbyist for foreign governments without registering with the Justice Department. Three weeks later, after the deal collapsed, Weiss dropped the tax charges and said an indictment on the gun charge would come by the end of September. As the 2024 election race swings into gear, Republicans in the House of Representatives on Tuesday formally opened an impeachment inquiry against President Biden. They alleged, without offering hard evidence, that while vice president in 2015-2016, Biden intervened to protect an allegedly corrupt Ukrainian energy company, Burisma, where Hunter Biden sat on the board. Republicans allege Joe Biden and his family reaped large sums for helping Burisma. The post Biden’s son Hunter indicted on gun charges appeared first on Daily Tribune......»»
Gilas heartbreakers
The FIBA World Cup games have begun with an opening night of flag-waving, music-filled entertainment proudly showcasing our much-heralded love for singing and dancing. And for the next two weeks, basketball fanatics will be focused on the best of the best hoopsters in the world. Political leanings will be set aside and diplomatic disagreements among competing nations momentarily ignored by 32 countries bannered by a record number of 55 NBA players amicably but surely passionately battling for national pride on the hardcourts of Manila, Jakarta and Okinawa. Undoubtedly, the Philippines has prepared long and hard. Undoubtedly, our Gilas pool of an exciting combination of youthful and seasoned cagers possessed finally with enough height, girth, and basketball savvy to be internationally competitive have stepped up and put their individual professional careers on hold for the opportunity to don the colors of the country. Undoubtedly, MVP, the godfather and financial backer of SBP, has done his utmost best to deliver for the Filipino people the much-cherished dream of returning our basketball team to the Olympics by topping other Asian countries in the World Cup. Undoubtedly, the Filipino fans have continued to pour their hearts out for Gilas, desperately hoping for the much-fantasized victories over the top teams of the world starting with the higher-ranked countries in our group, namely, #10 Italy and #23 Dominican Republic versus our #40 rank. And certainly, a win against lower-ranked #41 Angola would not be an outsized expectation. So, what has happened so far? As of this writing, I must say that, surely, like millions of our countrymen, my heart is utterly heartbroken. Why? Two Gilas games have just been concluded and much to our lament, although we still have one more game to play against Italy, our aspirations for moving up to the second round of 16 have been shattered for all intents and purposes. We still have a long shot for a Hail Mary miracle if the Dominicans beat the Angolans, our tormentors in the second game of Gilas, and IF we beat Italy. This slimmest of slim scenarios will have Gilas tied with Italy and Angola at one win and two losses each, which will have to be settled on point differentials. We first lost to the Dominican Republic 87- 81 in a tightly contested match-up. Our team stood toe to toe against NBA star Karl Anthony Towns, an unstoppable behemoth every time he drove in on his strong side against the defenses of AJ Edu and our own man mountain June Mar Fajardo. Both defenders nevertheless stood out with their steady shooting and defensive efforts. The first game against the Dominicans, to the credit of our undersized team, was a nip-and-tuck affair all throughout that could have gone either way until our scoring machine, NBA star Jordan Clarkson, fouled out with about three minutes left. Without Clarkson to respond to Towns, the game of Gilas quickly unraveled and the outcome became inevitable. The game against Angola started and ended quite differently. With dimming hopes for moving up to the next round, Gilas ferociously came out strong, even leading by as many as 11 points in the second quarter. Clarkson’s shooting, however, was not as sharp, hitting only 32 percent compared to his 38 percent clip against the Dominicans and Gilas’ penchant for turnovers continued to hurt. By the start of the fourth quarter, Angola took control and never looked back. Some lessons to be learned. No matter how great a player Clarkson is, other players will have to step up more consistently. Basketball after all is and will always be about team play. Fajardo was marvelous in the Dominican game but couldn’t maintain his strong play in the match-up against Angola’s NBA Atlanta Hawks center, Bruno Fernando. On the other hand, Edu, Dwight, and Pogoy showed intermittent flashes of brilliance but lacked game-long consistency. The much heralded Kai Sotto, perhaps through no fault of his own since he was denied sufficient playing time to show his stuff, was flat and didn’t really wow the crowd. But perhaps the biggest question asked by basketball pundits is if coach Chot Reyes is up to par compared to the brilliant bench tactician Tab Baldwin who unexpectedly stepped down as Gilas coach. Until next week… OBF! *** For comments, email bing_matoto@yahoo.com. The post Gilas heartbreakers appeared first on Daily Tribune......»»
Employee termination
Dear Atty. Joji, One of our employees has been negligent in performing her tasks and often commits mistakes to the prejudice of the company. She was also unwilling to undertake additional duties that is being assigned to her even though it is stipulated on her employment contract. The management has reached a decision to terminate her employment due to the negative impact of her actions to our business operations. Can we terminate an employee without violating labor laws? Will appreciate your inputs, Atty. Angie Dear Angie, There are two types of employment termination. First is termination by employer and the second is voluntary resignation or termination by employee. Employers can dismiss an employee based on just and authorized causes. Just causes are based on acts attributable to an employee’s own wrongful actions or negligence while authorized causes refer to lawful grounds for termination which do not arise from fault or negligence of the employee. According to Article 282 of the Labor Code, an employer can terminate an employee for just causes, which could be any of the following: 1) serious misconduct or willful disobedience by the employee of the lawful orders of his employer or representative in connection with his work; 2) gross and habitual neglect by the employee of his duties; 3) fraud or willful breach by the employee of the trust reposed in him by his employer or duly authorized representatives; 4) commission of a crime or offense by the employee against the person of his employer or any immediate member of his family or his duly authorized representatives; and other similar causes. However, in cases wherein there is just cause for termination, employers must still comply with the requirements of substantive and procedural due process. Procedural due process consists of the twin requirements of notice and hearing. The employers must furnish the employees with two written notices or the “Two notice Rule” before the termination of employment can be effected. As held in the case of Pepsi-Cola Bottling Co., Inc. v. NLRC: “The law requires that the employer must furnish the worker sought to be dismissed with two written notices before termination of employee can be legally effected: (1) notice which apprises the employee of the particular acts or omissions for which his dismissal is sought, and (2) the subsequent notice which informs the employee of the employer’s decision to dismiss him (Sec. 13, BP130, Sec. 2-6 Rule XIV, Book V, Rules and Regulations Implementing the Labor Code as amended). Failure to comply with the requirements taints the dismissal with illegality. This procedure is mandatory; in the absence of which, any judgment reached by management is void and inexistent. Hope this helps. Atty. Joji Alonso The post Employee termination appeared first on Daily Tribune......»»
Sandwich chain Subway nears deal to be bought for more than $9-B
The Subway sandwich chain is near a deal to be acquired for more than $9 billion in a transaction that could be announced as soon as Wednesday, a person familiar with the matter said. Bids for the sandwich chain were due Tuesday, the person said, with competing offers from Roark Capital and a consortium that includes private equity firms TDR and Sycamore. The winner is expected to be the high bid in an all-cash deal. Originally founded in 1965 as an Italian-style submarine sandwich shop, Subway today has nearly 37,000 restaurants in more than 100 countries. The fast-food chain announced in February it hired JPMorgan to advise it on a possible sale while saying it "remains committed to the future," according to a 14 February press release. A Subway spokesperson said Tuesday there would be no comment "until the transaction has been completed," according to an email to AFP. Atlanta-based Roark is well-known in the fast-food and prepared foods space, already owning Buffalo Wild Wings, Baskin-Robbins, and Seattle's Best Coffee, as well as other assets including Orange Theory gyms. Roark "has shown that it knows how to nurture restaurant brands and help them to grow, including through expansion," said Neil Saunders of GlobalData Retail. New York-based Sycamore and British firm TDR Capital also have investments in the consumer space. TDR declined to comment. Roark and Sycamore did not immediately respond to a request for comment. Subway was launched with a single sandwich shop in Connecticut by Fred DeLuca, who started with an initial $1,000 investment from family friend Peter Buck, as a way to pay his college tuition. The two men famously started the venture based only on a handshake. DeLuca died in 2015, while Buck passed away in 2021. In recent times, Subway executives have highlighted cost-cutting efforts to better compete with other restaurant chains, while focusing most growth efforts overseas. In June, Subway unveiled a franchising agreement to open some 4,000 restaurants in mainland China over the next 20 years. The post Sandwich chain Subway nears deal to be bought for more than $9-B appeared first on Daily Tribune......»»
TOFA honors this year’s Presidential Volunteer Service awardees
The Outstanding Filipinos in America, an organization that honors the achievements of Filipinos in the USA, named the 2023 Presidential Volunteer Service Awardees during the recent awarding ceremony at the Triad Theater in New York City. Founded by New York-based journalist Elton Lugay, TOFA acknowledged individuals who rendered their talents and skills, expertise and wisdom in diverse community events around the United States. The distinction was acknowledged by the office of The White House in Washington, D.C. This year’s recipients included senior creative manager Angelene Coronel, healthcare worker Richie Garcia, special education teacher Deirdre Levy, public health expert Rachelle Peraz Ocampo, civil rights advocate Clifford Robin Temprosa and digital creators Dennis Almario, Chris Labaco, Jonathan Maravilla, Erwin Pajarillo and Eric Relucio. Dominating the roster were artists and performers Arianne Aldecoa, Denise Kara Almario, Bernice Bernabe, Eric Celerio, Marga Empress, Manilyn Gemproso, Asia Guzman, Melody Himarangan, Erno Hormillosa Jr., Gene Juanich, Hansel Mendoza, Morris Montilla, Marcus Oche, Bobby Ramiro, Ellis Young, Hannah Zapanta and Mark Anthony Atienza. Atienza, a graduate of Bachelor of Arts in Music Production from the De La Salle-College of Saint Benilde, recalled that he was surprised with the recognition. He thought he was just only attending the affair. “I feel honored and blessed to receive this award. It continues to motivate and inspire me to constantly give back to the community,” he said. Since residing in the US since 2021, he sang in Filipino restaurants, including Kabayan and Kusina Pinoy Bistro. Atienza was the opening act of some biggest celebrities’ concerts, such as Morissette Amon, Marcelito Pomoy, Erik Santos, Gary Valenciano and KZ Tandingan. He likewise has been part of special traditional Masses such as Simbang Gabi and social gatherings of the Philippine consulate and the Philippine Independence Day Council Inc. With his determination and passion, Atienza, along with his fellow TOFA singers Almario, Guzman, Relucio, Young, Zapanta, Neeko Delos Santos and Geo Rebucas, showcased their vocal prowess with the US National Anthem during the Filipino Heritage Night at a National Basketball Association game at Madison Square Garden in November 2022. They were also invited to serenade the White House for its Christmas Open House in December 2022. Despite missing his home country, Atienza shared that he temporarily decided to stay abroad because of the opportunities which opened up for his career. “As an independent artist during the pandemic, it was really hard for me because I had no place to perform,” he stated. “No way to somehow make a living with my music.” He lauded all musicians and digital creators in the industry for inspiring him to become a better person. “I hope and pray that with your art and contents that you’re making, you’ll continue to use it to make an impact on our society.” Atienza wrote songs for multimedia companies GMA Music and Viva Music. His original pieces were also featured in the movie Walwal, which was directed by award-winning filmmaker and Benilde Digital Filmmaking chairperson Jose Javier “Joey” Reyes. He recently released his debut album 20/20, which was based on his own experiences of love and heartbreak during the coronavirus pandemic. The post TOFA honors this year’s Presidential Volunteer Service awardees appeared first on Daily Tribune......»»
Trump has 10 days to surrender
Former United States president Donald Trump and 18 others were charged Tuesday with racketeering over their attempt to overturn Georgia state’s presidential election result in 2020 and they were given 10 days to voluntarily surrender. “Rather than abide by Georgia’s legal process for election challenges, the defendants engaged in a criminal racketeering enterprise to overturn Georgia’s presidential election result,” Fulton County prosecutor Fani Willis told reporters. Willis gave the 19 individuals named in Monday’s grand jury indictment until noon of 25 August to voluntarily surrender. Trump, who is running for president next year, called the indictment a witch hunt in a post on his Truth Social platform. “Why didn’t they indict 2.5 years ago? Because they wanted to do it right in the middle of my political campaign,” his post read. The Trump campaign released a statement as the charges were being processed calling Willis, who is a Democrat, a “rabid partisan” who was “persecuting” the former president with “bogus indictments.” In response, Willis said: “I make decisions in this office based on the facts and the law. The law is completely nonpartisan.” The indictment is the fourth and latest against the 77-year-old Republican, compounding the legal threats he is facing in multiple jurisdictions which may imperil his bid for a second White House term. He was already federally indicted over the alleged plot to subvert the election and is also facing prosecutions over his alleged mishandling of classified documents and keeping allegedly fraudulent business records. The twice-impeached Trump was charged with violating Georgia’s Racketeer Influenced And Corrupt Organizations Act, as well as six conspiracy counts over alleged efforts to commit forgery, impersonate a public official and submit false statements and documents. He is also accused of lying in statements and filing fake documents, as well as solicitating public officials to break their oaths. Trump’s former personal lawyer and ex-New York City mayor Rudy Giuliani, who pressured local legislators over the result after the election, and Trump’s White House chief of staff, Mark Meadows, were among the 18 co-defendants. Giuliani faces 13 felony counts, including over accusations of harassment of two Fulton County poll workers. Other Trump allies were charged over the accessing of sensitive data from an election office in a rural county south of Atlanta, one day after the 2021 Capitol riot. Atlanta-area authorities launched the probe after Trump called Georgia officials weeks before he was due to leave the White House, pressuring them to “find” the 11,780 votes that would reverse President Joe Biden’s victory in the Peach State. WITH AFP The post Trump has 10 days to surrender appeared first on Daily Tribune......»»
SM Prime commits to net zero by 2040
SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property developers in Southeast Asia commits to achieve net zero greenhouse gas (GHG) emissions by 2040. SM Prime continues to collaborate with partners to pursue a climate-resilient future and mitigate the phenomenon’s harshest impacts. SM Prime is aware that the window of opportunity to act decisively is of utmost importance. This is why climate action and the transition to a net-zero business are at the top of SM Prime’s sustainability agenda. "We have been working with WWF-Philippines to help us establish our commitment and targets, and align with the global commitment which is to achieve net zero by 2050. SM Prime strives to work on achieving net zero emissions, or the point where our generated greenhouse gas emissions are in balance with our emissions reduction activities. We established our near- and long-term science-based targets for 2030 and 2035 respectively. This is currently being verified by WWF Philippines. We commit to achieving net zero by 2040", SM Prime President Mr. Jeffrey Lim said. SM Prime has been managing the transition to a low-carbon economy, which is why climate health, resilient design, and disaster risk reduction have played pivotal roles in its construction and design activities over the past decades. SM Prime addresses climate change by 1) expanding its renewable energy portfolio, 2) optimizing energy efficiency, and 3) conserving and protecting natural carbon sinks. Moreover, SM Prime is already implementing a large-scale energy and water conservation program that has produced outstanding results. SM Prime achieved its 2022 commitment to sourcing renewable energy for at least 50% of its electricity consumption. This development strengthens its commitment to the Department of Energy’s program of moving up the renewable energy supply component of the Philippines to 35% by the year 2030. SM Prime continues to support the transition to renewable energy through direct sourcing. Moreover, it has invested in various forms of manufactured, intellectual and social capital to prepare for a carbon-neutral future. SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people. The post SM Prime commits to net zero by 2040 appeared first on Daily Tribune......»»
QCitizen eco-warrior featured by BBC
Quezon City Mayor Joy Belmonte on Monday said that a constituent’s simple way to mitigate the effects of global climate change in her community got featured in the “Transforming Cities Series” presented by C40 Cities and produced for them by BBC Story Works Commercial Productions. The series, which was launched in October 2022, highlights community action and innovation in various cities of the world to address the climate crisis. It also showcases cities that lead the way toward a safe, green, and healthier future for all. The story revolves around Naly Ramos Albino, a 60-year-old small business owner from Barangay Culiat, who became an “ecowarrior” and actively took part in the city’s “Trash to Cashback” initiative. Albino’s involvement in the program started during the pandemic when she observed the significant amount of waste accumulating in the bins near her store and the outdoor basketball court. Driven by her determination to contribute to a more environmentally responsible community, she took the initiative to reduce the amount of waste in their area. When she heard about the Trash to Cashback scheme, she began collecting and segregating recyclable materials and single-use plastic. And despite facing skepticism from her neighbors, she diligently took the waste to a nearby recycling point and earned valuable “Environmental Points.” Albino used the environmental points to buy basic necessities, restock her store, and pay her utility bills. She was also able to persuade their community to do the same; with her customers segregating their trash in different bins found in front of her store. Belmonte also expressed her appreciation to Albino, who became an inspiration to her fellow residents. “Aling Naly’s simple way of saving the environment will truly inspire more people and even influence more organizations and policymakers to do their part. Our collective action is essential as we gear towards an ambitious, evidence-based, transformative, and inclusive climate solution for all,” Belmonte said. Albino’s story can be streamed at www.transformingcitiesseries.com. It will also be shared through the official pages of C40 Cities and the Quezon City Government. Since 2015, Quezon City has been one of the active member cities of the C40 Cities Network that is committed to confronting climate change and promoting climate justice. The post QCitizen eco-warrior featured by BBC appeared first on Daily Tribune......»»