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Cliffhanger
One of the challenges of operating a convenience store is theft by shoplifters. In the United States alone, the losses of small city retail stores were estimated at over $94 billion in 2021, Bloomberg reported. Washington State recorded the highest retail store losses from theft in the country, according to the National Retail Federation. Local stores have installed security cameras, motion sensors, and inventory control systems to help prevent shoplifting, an NRF survey showed. It remains to be seen if such high-tech security measures work, but location and size are definitely effective in discouraging shoplifters for one remote convenience store in China. The tiny wooden store at the Shiniuzhai Scenic Area in the Chinese province of Hunan is only two square meters. Opened in 2018, the store recently trended online after a popular military blogger with 889,400 followers posted on the popular Chinese social network Weibo a photo with the caption: “The most inconvenient convenience store,” CNN reported. Few customers are served by the store but not because of its limited offerings. It just so happens to be located along a route less traveled called via ferrata. The pathway for climbers consists of steel bars driven into the mountainside to serve as steps and metal anchors for fastening climbing ropes. In any case, the store is convenient for adventurers summiting the mountain, as they can get a water refill or buy a beverage for hydration while perched on the side of a vertical cliff. At the same time, the store looks inconvenient for its sole attendant as it hangs halfway to the top of the cliff, 120 meters from the ground, with its floor supported only by steel brackets bolted to the cliffside. Moreover, restocking requires the storekeeper to pull up supplies from the ground with a rope, according to Oddity Central. To others, inconvenient is an understatement for the store hanging from a cliff. Scary should be a more accurate description......»»
Govt. to boost agri, fishery sectors
President Ferdinand Marcos Jr. on Wednesday underscored the need to address the systemic issues plaguing Philippine agriculture for years due to the longstanding neglect of this sector. During his speech at the 70th anniversary of the Federation of Free Farmers (FFF) in Quezon City, Marcos Jr said the welfare of farmers and fisherfolk has been forgotten for decades, dating back to the inception of agricultural reform during his father and namesake's tenure. "We have a significant amount of work ahead of us because we need to fix the entire agricultural system that has been neglected for a long time, perhaps since the start of agricultural reform, during (the late President Ferdinand Marcos Sr.'s) time," Marcos Jr. said. "Now, many changes have occurred, the world has changed, and it has revolved several times. Therefore, we need to examine the needs of our farmers and fishermen to improve their lives because we often hear that we need to increase our yield, improve our harvest, and our productivity," he added. The latest data from the Philippine Statistics Authority showed that agricultural production in the country decreased by 1.3 percent during the year's second quarter. The figures unveiled by the PSA showed that the production value in agriculture and fisheries, calculated at constant 2018 prices, totaled P427.69 billion, a decline from the P433.10 billion recorded during the same period the previous year. Minimum wages for agricultural laborers in the Philippines vary by region, ranging from P306 in the Bangsamoro Autonomous Region in Muslim Mindanao to P573 in the National Capital Region. These wage rates, determined by tripartite boards, differ based on the specific region. “But let's not forget that the livelihood of our farmers and fishermen should also be taken care of and improved because that is our goal for all our farmers and fishermen,” Marcos said. Marcos emphasized the pressing need for his administration to boost the agricultural sector, with more than P92 billion set aside for upcoming agri-fisheries projects next year. Additionally, the Department of Agriculture has allotted P4.73 billion to improve large-scale agriculture and fishery mechanization and modernization, aiming to decrease post-harvest losses and cost-effectively enhance farmers' yields. However, the President underlined the enormity of the task ahead and called upon the public for their support and collaboration. "So, this is a massive task. That's why we need your help because the government alone cannot do all of this. We need your diligence, we need your advice because you are the ones facing the problems in agriculture that we are going through now,” Marcos said. “Rest assured, your government is here to do everything in its power to assist our farmers in producing a bountiful harvest, catching enough fish for our fellow citizens, and selling these products at prices affordable to our people,” Marcos added. The post Govt. to boost agri, fishery sectors appeared first on Daily Tribune......»»
Saavedra to appeal dismissal of cases vs Tomas, ex-city officials over Kawit Island deal
CEBU CITY, Philippines – Businessman and whistleblower Crisologo Saavedra is not yet giving up on the criminal and administrative complaints that he filed against former Cebu City Mayor Tomas Osmena and his City Council on the controversial P18 billion Kawit Island deal. Saavedra said he will be filing a petition to ask the Office of the Ombudsman-Visayas to reconsider its earlier decision to dismiss the criminal and administrative complaint that he filed. “I’ll file an MR (motion for reconsideration),” said Saavedra in an interview with CDN Digital. In 2018, Saavedra filed criminal and administrative complaints over the controversial P18 billion Kawit Island deal. The project paved the way for Gokongwei-owned Universal Hotel and Resorts Inc. (UHRI) to establish an integrated casino and resort in the South Road Properties (SRP). But acting Assistant Ombudsman for the Visayas Jane Aguilar, in a 21-page decision promulgated January 27, junked the criminal and administrative cases for ‘lack of substantial evidence’. A copy of the decision was furnished to the media on Oct. 20. Osmeña’s co-respondents in the case were then Councilors Margarita Osmeña, Dave Tumulak, Sisinio Andales, Alvin Arcilla, Eugenio Gabuya Jr., Gerry Guardo, Joy Augustus Young, Mary Ann delos Santos and Franklyn Ong who approved the ordinance that allowed the Gokongwei-owned company to establish an integrated casino and resort in Kawit Island, SRP and UHRI executives Frederick Go, Lance Gokongwei, James Go, Robina Gokongwei-Pe and Patrick Henry Go. Saavedra insisted that Ombudsman-Visayas should look into the technicalities of how the city government awarded the P18-billion project in 2018. He mentioned City Ordinance No. 2154 as his basis, saying that members of the private sector, when entering into joint venture agreements with the government, must meet the “technical and financial qualifications” prescribed by law. “The private participants should have technical and financial capability. I never questioned the financial capability… It is the track record of the corporation, not of the individual offices,” Saavedra added. The Camp of Osmeña has since welcomed the decision of the Ombudsman. ALSO READ: Ombudsman upgrades Saavedra complaint against Tomas Osmeña, 9 others over Kawit Island deal.....»»
Uy resort units chart recovery
Subsidiaries of Davao businessmen Dennis Uy resort developer PH Resorts Group Holdings Inc. said it has restructured its indebtedness with China Banking Corp., or Chinabank. The debts were streamlined through the execution of agreements for the sale, leaseback, with option to buyback certain land and improvements of its subsidiaries. The restructuring covers the property of the subsidiaries in Lapu-Lapu City, Mactan, Cebu, with an area of approximately 12.5 hectares, plus improvements. The consideration for the investment and resulting percentage of ownership are still subject to final negotiations by the Parties, which are expected to be completed within 60 days, based on the MoU. P3.1-B bridge loan The restructuring also allows the subsidiaries to repay the P3.1-billion bridge loan facility extended by Chinabank in 2018, while, at the same time, grants them continued possession and use over the property to finish the construction and development of the Emerald Bay Project. In addition, the option to buy back of the restructuring allows the subsidiaries or its nominees to reacquire the properties. Lapulapu Leisure Inc. and Lapulapu Land Corp., the two units of Resorts Group Holdings also signed a memorandum of understanding with Cebu-based property developer AppleOne Properties Inc. The MoU establishes broad parameters whereby AppleOne can make an investment in the subsidiaries, with the intention of obtaining most of the equity interest in the subsidiaries, or an asset purchase of the land and improvements of the Emerald Bay Project. The post Uy resort units chart recovery appeared first on Daily Tribune......»»
Sara Duterte’s P2.7B confidential expenses as Davao mayor should be probed—Castro
Davao City’s confidential expenses that ballooned to P2.697 billion during Vice President Sara Duterte’s stint as mayor should be probed by the Commission on Audit, a lawmaker said Monday. The call for investigation was prompted by the 2022 report of the CoA, which found that Davao City spent P2.697 billion on confidential expenses between 2016 to 2022, or an average of PP385.3 million per year over the preceding six years. Duterte served as the Davao City mayor from 2016 to 2022 before she assumed the VP post in July of last year. Based on CoA findings, Davao City incurred P144 million of confidential expenses in 2016, which was more than doubled to P293 million in 2017 and further climbed to P420 million in 2018. The city’s confidential fund expenses further grew to P460 million in 2019 and were maintained consistently for the subsequent years of 2020, 2021, and 2022. In an interview on Monday, ACT Teachers Partylist Rep. France Castro, who sought the CoA probe, stressed that the P2.697 billion totality of confidential expenses of Davao City in the previous six years “could have been utilized more effectively to benefit the education sector, specifically by providing much-needed support to teachers.” “We were shocked also [by] the report of the CoA. With this controversy of confidential funds, we are thinking of asking the CoA to investigate,” she said. “The CoA should file an audit observation memo and then ask them to explain maybe the misuse of funds and then file necessary legal action.” She added, “Imagine more than a million a day spent for the confidential funds in a city. I just wonder how it was spent and where it was spent. So, we want the CoA to review if the city government of Davao City led by Vice President Sara Duterte by then really followed the guidelines or the joint circular 2015-01.” The said joint circular outlined by CoA with the Departments of Budget and Management, National Defense, and of the Interior and Local Government, and Governance Commission for GOCCs, contains guidelines on the entitlement, release, use, reporting, and audit of confidential and intelligence funds that are in the General Appropriations Act. Daily Tribune has been asking for Duterte’s comment, but she remained mum on the issue. While Castro admitted that the local government units are entitled to confidential funds for peace and order maintenance, it was “ironic” that Duterte sought allocation of such funds given that she claimed Davao City was “very peaceful, disciplined, and well” during her tenure. "So why is it necessary to have an increasingly confidential fund?" the lawmaker stressed, noting such a fund should be used for other fruitful endeavors. "I remember the time the teachers of Davao City were asking for city allowance, but she did not grant it. Instead, she refused and even got mad with ACT (Alliance of Concerned Teachers) during that time," Castro pointed out. While none in the law limits the amount of confidential funds, the militant lawmaker pointed out that it should be rationalized. A proposed law aimed at imposing a cap and limit on confidential funds, streamlining the allocation of such that would promote transparency and accountability, is currently being crafted, according to Castro. It will be filed in Congress when the session resumes in November. The post Sara Duterte’s P2.7B confidential expenses as Davao mayor should be probed—Castro appeared first on Daily Tribune......»»
MPTC, SMC forges historic P72-B toll road deal
Two industry powerhouses—Metro Pacific Tollways Corp. or MPTC and San Miguel Corp. or SMC—are set to jointly develop two toll road projects with a combined cost of P72 billion that would further ease mobility in Southern Luzon. The companies signed a Memorandum of Agreement last Monday, 14 August, where they formalized their bid to design, build and operate the 87.96-kilometer Cavite-Batangas Expressway or CBEX and Nasugbu-Bauan Expressway or NBEX. According to SMC President and CEO Ramon S. Ang, the partnership is a “historic collaboration” that will deliver world-class road networks for Filipinos. “This collaboration stands as a testament to what we can achieve when we are united in purpose,” Ang said. Meanwhile, MPTC Chairman Manuel V. Pangilinan said: “Together with SMC, we envisage a future where our CBEX and NBEX can help pave the way for connectivity and economic growth in the CALABARZON region.” The CBEX is a 27.06-kilometer road that will establish a crucial link connecting CALAX’s Silang (Aguinaldo) Interchange to Batangas, Meanwhile, the 60.90-kilometer NBEX will provide seamless connectivity from Nasugbu to Bauan, Batangas. The route will traverse the townships of Silang, Amadeo, Tagaytay, Indang, Mendez, and Alfonso in Cavite before crossing into Nasugbu and finally reaching Bauan, Batangas. The groundbreaking of CBEX is scheduled for 2024, while NBEX is likely to be complete and open to the motoring public by 2027. In 2018, MPTC presented a proposal for the 50.4-kilometer Cavite-Tagaytay-Batangas Expressway project to the Department of Public Works and Highways and was granted the original proponent status. Similarly, SMC's unsolicited proposal for the CBEX and NBEX was approved by the Cavite and Batangas government. Both projects share the common goal of connecting the provinces of Cavite and Batangas through Tagaytay City and MPTC and SMC have come together as partners in this significant venture. The post MPTC, SMC forges historic P72-B toll road deal appeared first on Daily Tribune......»»
Zambo co-op reports steady progress
The Zamboanga City Electric Cooperative or ZAMCELCO reported on Wednesday that its rating, assessed by the National Electrification Administration, rose from C in 2021 to B in 2022. In a press statement, ZAMCELCO said the improvement indicated that its customers are receiving better services, driven by management and investment boosts. “We are thankful for this nod from the NEA, which further lets us know that ZAMCELCO is on the right track,” ZAMCELCO chief management officer Rommel Agan said. Invaluable partner “The steady improvements to our services harks back to our vision of being an invaluable partner of the local government to develop Zamboanga City into one of the country’s most economically-competitive cities,” he added. The NEA’s rating system was based on multiple criteria, including institutional-governance parameters, financial parameters, technical parameters, level of electrification, and reportorial requirements. The electric cooperative’s improved rating was welcomed by ZAMCELCO Chief Management Officer Rommel Agan who said he was ‘thankful for this nod from the NEA, which lets us know that ZAMCELCO is on the right track.’ Agan pointed out that ZAMCELCO’s improvements were primarily attributed to the new management, which took over in 2018. The new leaders delivered their commitment to cater to the growing demand, which increased to 609 million kilowatt-hours or kWh in 2022 from 539 million kWh in 2018. Joint venture Crown Investment Holdings Inc. and Desco Inc. formed a joint venture that won the P2.5-billion investor-manager contract bid in 2018. This joint venture was instrumental in restoring ZAMCELCO, the cooperative, and ensuring efficient power supply to its 125,000 billed customers. The power company recently initiated a comprehensive campaign throughout its franchise to ensure continuous and affordable power supply for its consumers. ZAMCELCO also vowed to keep its generation charges low — the second cheapest in Mindanao by managing the supply contracts of the cooperative to achieve the most favorable power mix for customers. The post Zambo co-op reports steady progress appeared first on Daily Tribune......»»
Property developer invests P64 billion to build Grand Westside Hotel
Megaworld Corporation has allocated P64 billion to build the Grand Westside Hotel in Paranaque’s Westside City. Envisioned as the country’s biggest hotel, the first tower of the 19-story buildings is scheduled for completion this year and the second by 2024. Construction is expected to conclude before 2023 ends. The 1,500-room property will offer various room types, including queen suites (up to 48 square meters), twin suites (up to 48 square meters) and executive suites (up to 48 square meters) and twin and queen suites (up to 35 and 37 square meters) designed for specially-abled guests. It will also feature four function rooms that, when combined, can accommodate up to 300 people. Additionally, it will house four dining outlets, including an all-day dining restaurant with a capacity of nearly 250 guests. [caption id="attachment_163850" align="aligncenter" width="1386"] ROOM at Grand Westside Hotel.[/caption] The hotel’s amenities include an expansive pool area, a children’s pool, a gazebo, a fitness gym, massage rooms and outdoor seating. It will also have a two-level retail and commercial space covering 1,995 square meters. Grand Westside Hotel is Megaworld’s 19th hotel property and the second homegrown hotel brand within Westside City. It is the fourth resort complex within Philippine Amusement and Gaming Corp.’s Entertainment City project, following Solaire Manila, City of Dreams and Okada Manila. Megaworld is the only Philippine real estate development company to earn a “Hall of Fame” distinction as “Best Developer” after winning the Outstanding Developer Award at the Property and Real Estate Excellence Award by FIABCI Philippines for three straight years (2015, 2016 and 2017). The company was also named the “Best Developer” at the prestigious Philippines Property Awards by PropertyGuru for three consecutive years (2016, 2017 and 2018). The post Property developer invests P64 billion to build Grand Westside Hotel appeared first on Daily Tribune......»»
‘Era of mass closures’: the Japan businesses without successors
Kiyoshi Hashimoto's machinery factory outside Tokyo should be buzzing with industry. Instead, it's so quiet you can hear him practicing the recorder. The 82-year-old entrepreneur founded his company nearly 40 years ago, but well past retirement age he has neither a successor nor a buyer for a business that retains loyal clients. It is a problem that Japan's government warns could affect up to a third of all small businesses in the country by 2025, as the country's population shrinks and ages. "All of this would go to waste if I were to close now," said Hashimoto, whose factory in Yachimata, east of Tokyo, is filled with workbenches, drill tables and parts cabinets. He once employed dozens of people, but now gets by with just two part-time workers after scaling back operations. The problem is so vast that Japan faces an "era of mass closures", said Shigenobu Abe of bankruptcy research firm Teikoku Databank. A 2019 government report estimated that about 1.27 million small business owners would be 70 or older by 2025 and have no successors. The trend could kill up to 6.5 million jobs and reduce the size of the Japanese economy by 22 trillion yen ($166 billion), the study warned. By 2029, the situation will worsen still, as baby boomers hit 81, the average life expectancy for Japanese men, who account for most of the presidents of these firms, according to Teikoku Databank. "We know for sure that many workers will lose their livelihoods because of this," Abe told AFP. 'A serious blow' As elsewhere, small businesses in Japan are often passed down to family or trusted employees. But the country's prolonged economic stagnation has made small businesses unattractive to young people. Firms in rural areas struggle further because of a preference for city life and a growing trend of rural depopulation. Compounding the problem is a feeling among some older Japanese that selling a family business to outsiders is shameful. Some liquidate their firms rather than seeking buyers. Japan's government has offered generous incentives to encourage sales, and the private sector has also jumped in to match investors with businesses for sale. Company BATONZ now makes more than 1,000 matches a year, up from just 80 when it opened in 2018. Still, it reaches a fraction of the people who need it, said BATONZ president Yuichi Kamise. Waves of closures will mean the loss of specialized craftsmanship, unique services and original restaurant recipes that make up Japan's social and cultural fabric, he said. "Over time, what makes Japan unique could disappear due to a lack of successors," he said. "I think it will deal a serious blow to Japanese culture and Japan's attractiveness as a tourism destination." Some feel though that the trend offers a chance to fix inefficiencies and consolidate small businesses that are barely scraping by or survive on subsidies. Hiroshi Miyaji, 50, owns Yashio Group, a logistics giant started by his grandfather, and has snapped up various businesses. "There will always be buyers for firms, with or without successors, that have unique strengths, special know-how and human resources," said Miyaji, a third-generation president. Helped by BATONZ, he recently purchased a small trucking company from 61-year-old Ayako Suzuki. 'Waiting for someone' Suzuki gave up her corporate career to help her father with the business he had started in 1975. None of the firm's three drivers wanted to take over and she was asked to join and help her father, then in his late eighties. But problems quickly piled up: the coronavirus pandemic hit, a driver left, trucks needed maintenance, and before long she was dipping into savings to stay afloat. "I wanted to keep the business going, at least while my father was alive," she told AFP. BATONZ connected her with Miyaji, who pledged to keep the firm's employees, clients and trucks. "I'm more relieved than sad," she said. "I didn't think our company had any value." The glut of affordable small businesses can be a boon for young people looking to break into a sector. Among them is 28-year-old chef Rikuo Morimoto. When the pandemic prevented him from studying in Italy, he used his savings to buy a four-decade-old diner in Tokyo and start a restaurant at a fraction of the normal cost. He kept the decor, furniture and many longstanding customers of "Andante", a beloved neighborhood restaurant in the Suginami district, while offering his own menu. "I thought I could only afford to have a food truck or a small bar," he said. Not everyone is so fortunate, and the future of Hashimoto's machinery factory remains uncertain, despite his attempts to groom three successors. "I'm just waiting for someone to come along and make use of this," he said. The post ‘Era of mass closures’: the Japan businesses without successors appeared first on Daily Tribune......»»
India announces new French fighter jet deal as Modi visits Paris
India announced a new multi-billion-dollar deal for French fighter jets on Thursday as Prime Minister Narendra Modi visited Paris for a two-day trip that will see him feted as the guest of honor during France's national day celebrations. India's defense ministry said that the country intended to order 26 more Rafale jets as well as another three Scorpene-class submarines, with the price and other terms still being worked out. India is one of the biggest buyers of French arms, and Modi announced a landmark deal for 36 Rafale fighter jets during a 2015 trip to Paris that was worth around 4.0 billion euros at the time. Some of those Indian-piloted Rafales will take part in a flypast on Friday during France's Bastille Day military parade where Modi will sit alongside French President Emmanuel Macron as guest of honour. "This closeness is not limited to just the leaders of two countries, it is in fact a reflection of the unwavering friendship between India and France," Modi told an enthusiastic crowd of Indians living in France on Thursday evening. Despite differences over the war in Ukraine and tensions over human rights in India, Western democracies are courting Modi and India as a counterweight to China in Asia. Macron's red carpet welcome comes weeks after Modi was given the rare honor of a White House state dinner in Washington -- a city he was once banned from visiting. "India is one of the pillars of our Indo-Pacific strategy," an aide to Macron told reporters this week on condition of anonymity. Human rights But amid the pomp and diplomatic courting in France, a resolution from the European Parliament on Thursday served as a reminder of Modi's controversial leadership style and Hindu nationalist agenda that has critics at home and abroad. Sitting in Strasbourg in eastern France, EU parliamentarians approved a motion that urged India to end violence in the country's restive northeastern Manipur state and to protect minorities there. Clashes between the majority Meitei, who are mostly Hindus, and the mainly Christian Kuki tribe have left at least 120 people dead, 50,000 displaced and over 1,700 houses destroyed, the parliament said. It criticized the "nationalistic rhetoric" of the local state government, run by Modi's Bharatiya Janata Party. Modi's role during Bastille Day in France was "an affront not only to India's minority communities, journalists and human rights defenders but also to India as a democracy," the text's chief negotiator, Pierre Larrouturou, said. A protest called against Modi drew only a few dozen people in central Paris on Thursday. Strategic partnership Modi has visited France four times since Macron came to power in 2017, while Macron was honored with a state visit to New Delhi in 2018. Aides on both sides have talked up the personal chemistry between the two leaders and pointed to cooperation on climate change, space technology, and nuclear power as part of a 25-year-old "strategic partnership" between France and India. Modi told the French newspaper Les Echos that bilateral trade had doubled in the last nine years and Macron's "thinking really matches ours". India and France "are naturally compatible" and "we see France as one of our foremost global partners," Modi added. Few observers expect Macron to raise rights concerns with Modi publicly. "The fact that explains France's relative success in this relationship is that unlike the US, the UK, Canada, Germany and a few other European countries, you've hardly seen France commenting on the internal affairs of India," Constantino Xavier from the Centre for Social and Economic Progress, a New Delhi-based think tank, said this week. "That has been appreciated on the Indian side." Modi has been dogged by allegations he was complicit in religious violence during his tenure as chief minister of the western state of Gujarat in 2002 when around 1,000 people, mostly Muslims, were killed in sectarian riots. The Indian government and judicial probes have cleared him of culpability. Since his first crushing electoral victory in 2014, he has also been denounced by rights groups for increased discrimination and violence towards the country's Muslims, as well as stifling independent media. "Diversity is the biggest strength of our democracy," he told the meeting on Thursday evening that also lauded the country's economic growth. Many European and American businesses, including US tech giant Apple, are ramping up production there to mitigate the threat of supply chain disruptions from China. The war in Ukraine has heightened concerns in the West about the risk of conflicts disrupting the flow of key raw materials and technology from China, but it has also exposed a rift with India. New Delhi, which has long sought to balance its ties with Moscow and the West, has declined to condemn Vladimir Putin's invasion of Ukraine and has emerged as a top buyer of discounted Russian oil during the biggest conflict in Europe since World War II. The post India announces new French fighter jet deal as Modi visits Paris appeared first on Daily Tribune......»»
Ex-Samsung exec charged with stealing secrets for China factory
A former Samsung executive has been charged with stealing company secrets for a copycat computer chip factory in China, and is being held in detention pending trial, prosecutors told AFP on Tuesday. The 65-year-old man, who has not been identified, allegedly stole Samsung trade secrets in a bid to set up a chip factory in the Chinese city of Xian -- near where Samsung has a plant -- the Suwon District Prosecutors' Office said in a separate statement. The material he stole was classified as "national core technology" -- innovations designated by South Korean law as potentially having a major negative impact on national security and the economy if disclosed overseas. "He's currently detained at the Suwon Detention Center," the spokesperson of the Suwon District Prosecutors' Office told AFP, adding the suspect had been held for some time but only formally charged on Monday. Securing supplies of advanced chips has become a crucial issue internationally, with the United States and China locked in a fierce battle for control of the market. Samsung is one of the world's largest makers of memory chips and smartphones, and its overall turnover is equivalent to about one-fifth of South Korea's gross domestic product. The Samsung factory blueprints and clean-room designs from 2018 and 2019 that the man allegedly tried to steal would have been worth at least 300 billion won ($236 million) to Samsung, authorities said. "It is a serious crime that can have a tremendous negative impact on our economic security by shaking the foundation of the domestic semiconductor industry at a time when competition for chip production is intensifying day by day," added the prosecutors' statement, released on Monday. "The semiconductor industry accounted for 16.5 percent of South Korea's total exports as of 2022... and is a national security asset," it added. Prosecutors charged six other people who worked for the detained executive and are believed to have been involved in the theft. The man had worked for a combined 28 years at South Korea's leading chipmakers, and is a "top expert in semiconductor manufacturing" in the country, prosecutors said. The post Ex-Samsung exec charged with stealing secrets for China factory appeared first on Daily Tribune......»»
Holcim flagship cement now Excel ECOPlanet
Highlighting success in significantly reducing the product’s carbon footprint while still delivering equal to better construction performance, one of the country’s known building solutions providers, Holcim Philippines Inc. has rebranded its flagship blended cement, now calling it Excel ECOPlanet. During a recent launch in Pasay City, Holcim Philippines president and CEO Horia Adrian said Excel ECOPlanet will continue to provide excellent performance for general construction applications, with concrete made durable due to its high resistance to sulfate and low porosity. Using Excel ECOPlanet will also improve workability and minimize shrinkage and cracks in concrete, Adrian told reporters. First blended cement for construction Launched over 20 years ago, Excel was among the first blended cement produced by Holcim Philippines for general construction and has become one of the most trusted brands in the market with over two billion bags sold. Through the company’s continuous improvement initiatives, the product’s carbon footprint is now at least 30 percent lower than ordinary Portland Cement qualifying it to bear the ECOPlanet mark, which is reserved for the Holcim Group’s line of high-performance and eco-friendly types of cement. Introduced by the Holcim Group in 2021, ECOPlanet is said to be the world’s broadest range of green cement with at least 30 percent lower emissions to help builders all over the world reduce the carbon footprint of construction. “Excel ECOPlanet is an important milestone in our sustainability journey in the Philippines. It combines the strong legacy of Excel in the country and the Group’s direction of accelerating innovation to decarbonize buildings. We are proud that Excel is classified as an ECOPlanet product and excited to see our customers continue using this in building progress in the country,” according to Adrian. ‘Likas at Lakas’ Further, he said Holcim Philippines will run a campaign called “Likas at Lakas” to underscore its commitment to providing sustainable products for building strong and durable structures. Since 2018, Holcim Philippines has reduced its carbon footprint by more than 20 percent by producing more blended cement, replacing coal with qualified wastes as alternative fuels and raw materials, and improving the efficiency of operations. Moreover, the company has accelerated innovations to produce a wider variety of high-performance blended cement for specific applications such as Solido for roads, Aqua-X for water protection, and WallRight Prime for masonry. Holcim Philippines’ carbon footprint reduction program is aligned with the Holcim Group’s net zero direction and the country’s Nationally Determined Contributions. Aside from its own initiatives, Holcim Philippines is working with key stakeholders to encourage the consumption of low-carbon products to help reduce the footprint of the built environment. The post Holcim flagship cement now Excel ECOPlanet appeared first on Daily Tribune......»»
Baguio economy back on track
BAGUIO CITY — The Philippine Statistics Authority in Cordillera region announced on Wednesday that this city’s economy is already back on its feet as it rebounded from a negative 17.1 percent contraction in 2020 to a 9.9 percent growth in 2021. PSA Cordillera chief statistical analyst Aldrien Federico Bahit said that the local economy was estimated to be at P146.9 billion in 2018 that increased to 152.9 billion in 2019 before declining to P126.7 billion in 2020 and rebounded to P139.2 billion in 2021. However, the city’s economy valued at P139.2 billion in 2021 was still much lower compared to the 2018 and 2019 levels and thus, the local economy has to gain at least 9.8 percent in 2022 to be able to match the 2018 and 2019 levels. Bahit said that all the major industries contributed to the growth of the city’s economy in 2021 with industry contributing the highest with 5.1 percentage points followed by services with 4.7 percentage points and agriculture, forestry and fishery with 0.3 percentage points. In 2020, all the major industries also contributed to the decline in the city’s economy with services being the hardest hit by the pandemic registering negative 11.5 percentage points, followed by industry with negative 5.6 percentage points and agriculture, forestry and fishery with 0.003 percentage points. Except for industry that reportedly pulled down the economy by negative 0.9 percentage points, services and agriculture, forestry and fishery contributed positively to the 4 percent growth in 2019. Services had 4.9 percent contribution while agriculture, forestry and fishery contributed 0.003 percent. Based on the annual growth contribution of the highlighted industries in 2021, the growth of the city’s economy was triggered by manufacturing with 4.4 percent; financial and insurance activities — 1.5 percent; and accommodation and food services — 1.1 percent. The rest of the industries similarly grew during the said year, except for transportation and storage which pulled the growth by 0.3 percent. Bahit added that the city’s per capita domestic product in 2021 was estimated at P379,712.00 which is still lower than the pre-pandemic levels in 2019 and 2018. The government’s statistics agency is now preparing for the 2022 gross city domestic product that is why it is soliciting the support of the local government unit for the data gathering to be able to complete the same right on time. The post Baguio economy back on track appeared first on Daily Tribune......»»
Makati swelters with 43.5 degrees heat index
The heat index in Makati yesterday reached a “dangerous” level of 43.5 degrees Celsius, according to the city’s Disaster Risk Reduction and Management Office......»»
UnionDigital Bank revenue grows to over P5 billion
UnionDigital Bank, the digital banking arm of Aboitiz-led Union Bank of the Philippines, saw its revenue grow to over P5 billion in 2023 mainly driven by higher deposits and loans......»»
Makati mall to hold Pabasa
The Filipino Lenten tradition of pabasa or chanting the passion, death and resurrection of Jesus Christ will be held at a shopping mall in Makati City......»»
Chocolate hills resort: Bohol governor tells DENR to take legal action ASAP
CEBU CITY, Philippines—The provincial government of Bohol wants to find out how the controversial resort located within the famous Chocolate Hills was allowed to construct and operate despite an investigation that started way back in 2018. Bohol Governor Erico Aris Aumentado on Thursday, March 14, 2024, urged the Department of Environmental and Natural Resources (DENR).....»»
Cebu City sets 14 road opening, widening projects worth P3.8B
CEBU CITY, Philippines – The Cebu City government is set to implement 14 road opening and widening projects this year in a bid to ease traffic. Engr. Miralex Toribio, acting assistant city engineer of the Department of Engineering and Public Works (DEPW), disclosed that around P3.8 billion worth of road opening and widening projects.....»»
Davao gets investment pledges worth P3B
DAVAO CITY (MindaNews / 06 March) – The Davao City Investment Promotions Center (DCIPC) has recorded investment pledges worth P3 billion from different potential investors for this year, an official said. Christian D. Cambaya, head of DCIPC’s Investor Assistance & Servicing Unit, said during “Wednesdays Media Forum at Habi at Kape” that Davao is off […].....»»
DPWH to fund P5.385B worth of projects in Lapu-Lapu in 2025
LAPU-LAPU CITY, Cebu — The Department of Public Works and Highways (DPWH) will fund P5.385 billion worth of projects for Lapu-Lapu City in 2025. These projects were submitted to Mayor Junard “Ahong” Chan during its City Development Council (CDC) meeting. The amount has four components, which consist of the Asset Preservation Program, National Road Network.....»»