We are sorry, the requested page does not exist
Philippines booters face Iraq foes
Debuting Belgian coach Tom Saintfiet aims to harness the trademark Filipino fighting heart as new-look Philippines resumes its FIFA World Cup Qualifiers drive Thursday (today in Manila) against fancied Iraq on the road in Basra......»»
ADB approves USD 100 mln loan to support small and medium-sized enterprises in Sri Lanka
Manila [Philippines], March 19 (ANI): The Asian Development Bank (ADB) has approved a USD 100 million loan to provide small and medium-sized enterprises (SMEs) in Sri Lanka more access to finance and build their resilience to external shocks, such as the economic crisis and climate change. SMEs play a critical role in Sri Lanka's economy, contributing 52 per cent to the country's gross domestic product and employ 45 per c.....»»
Philippines posts 196 mln USD deficit in February
MANILA, March 19 (Xinhua) -- The Philippines' overall balance of payments (BOP) posted a 196-million-U.S. dollar deficit in February, significantly lower from the 895-million-dollar BOP deficit recorded a year ago, the country's central bank said on Tuesday. The Bangko Sentral ng Pilipinas (BSP) said the BOP deficit in February reflected outflows arising mainly from the national government's foreign currency deb.....»»
DBP cited for good governance
The Development Bank of the Philippines (DBP) has received recognition for its exemplary corporate governance practices. The government's chief corporate regulator, the Governance Commission for GOCCs (GCG), has honored DBP with the Corporate Governance Scorecard (CGS) Hall of Fame award for consistently ranking in the top ten of the CGS ratings since 2017. DBP President and CEO, Michael O. de Jesus, highlighted the significance of this accolade, emphasizing the bank's unwavering commitment to best practices in corporate governance. Established under the GOCC Governance Act of 2011, the GCG utilizes the CGS to evaluate and assess the corporate governance initiatives of government-owned and controlled corporations. Moreover, DBP was also recognized as a Top 4 performer in the Corporate Governance Scorecard for 2022, attaining a high score of 100. De Jesus reaffirmed the bank's dedication to fortifying its corporate governance mechanisms, aligning with its core values and the national agenda for good governance. He emphasized DBP's resolve to uphold the highest standards in corporate governance, underscoring its support for the government's efforts to foster sustainable and inclusive economic growth......»»
Deceased Maine shooter had mental health problems: police
Police in Maine said Saturday that the man who gunned down 18 people at a bar and a bowling alley and later committed suicide, suffered serious mental health issues, but was able to buy weapons legally because he had never been forcibly committed to treatment. The body of Robert Card, a 40-year-old army reservist, was discovered Friday night inside a tractor-trailer near a recycling center where he used to work, said Maine public safety commissioner Mike Sauschuck. Card had shot himself. Investigators are still struggling to determine Card's motive for carrying out Wednesday's massacre in the town of Lewiston. However, Sauschuck said that Card had reportedly been hearing voices and suffering from paranoia. "Clearly there's a mental health component to this," Sauschuck told reporters. Investigators found a "paper-style" note that Card had left to a loved one which contained a password to his phone and bank account information, Sauschuck said, adding that the note had the tone of a suicide letter. Card was found in possession of three weapons, one of them a long gun, all purchased legally because he had never been forcibly committed to a mental institution. Despite the apparently clear mental health issues and a reportedly recent psychiatric evaluation undergone by Card, "a background check is not going to ping that this individual was prohibited," Sauschuck added. The sigh of relief The discovery of Card's body ended a massive two-day manhunt, which had this quiet city of 38,000 people on lockdown, with businesses and schools closed and residents terrified. Sauschuck acknowledged the help Card's family had provided to the investigation, saying his relatives were among the first people to call the police and identify the suspect. "This family has been incredibly cooperative with us," he said. Lewiston finally breathed a sigh of relief with businesses beginning to open and people appearing on the streets Saturday. Several posters reading "Lewiston strong" were seen in the city. Shukri Abasheikh, 60, was finally able to reopen her halal grocery store after the lockdown. "This morning I'm so happy because the last two days, we were worried a lot and we were scared," Abasheikh told AFP. "My customers were calling me saying we don't have milk, we don't have anything, can you open and I said, 'I'm scared.'" Upon learning that Card was dead, Sheri Withers, 44, owner of a Lewiston art gallery, said she felt "a balance of relief and remembering how to breathe, but also just being sad because, you know, it was a human life." For now, residents are "just trying to rebuild the pieces, and getting on from here is gonna be the next step for our community," she added. A local resident named Danica, who was buying coffee at a drive-through, said she was happy Card was dead, but at the same time wished he had first been brought to justice. "I think he took the coward's way out of doing it by suicide," Danica, who declined to give her last name, told AFP. "I think he should be held accountable for his crimes." In a statement issued shortly after Card's body was discovered Friday night, President Joe Biden vowed to renew efforts to curb gun violence in the United States. "Americans should not have to live like this," Biden said. "I will continue to do everything in my power to end this gun violence epidemic." Biden said the shooting brought "a tragic two days -- not just for Lewiston, Maine, but for our entire country." Authorities on Friday identified the victims, ranging from a husband and wife in their 70s to a 14-year-old boy killed alongside his father. This was one of the deadliest shootings in the United States since 2017, when a gunman opened fire on a crowded music festival in Las Vegas, killing 60 people Mass shootings are alarmingly common in the United States, a country where there are more guns than people and where attempts to clamp down on their spread are always met with stiff resistance. The United States has recorded over 500 mass shootings this year, according to the Gun Violence Archive, a non-governmental organization that defines a mass shooting as four or more people wounded or killed. Efforts to tighten gun controls have for years run up against opposition from Republicans, staunch defenders of the constitutional right to bear arms. The political paralysis endures despite widespread outrage over recurring shootings. The post Deceased Maine shooter had mental health problems: police appeared first on Daily Tribune......»»
Ivanka Trump ordered to testify in father’s fraud trial
The New York judge presiding over Donald Trump's civil fraud trial ordered his daughter Ivanka on Friday to testify in the case. Ivanka Trump, 41, was initially named in the lawsuit against Trump and his two eldest sons brought by New York's attorney general but was eventually dropped as a defendant. Trump and his sons Don Jr and Eric are accused of inflating the value of the real estate of the Trump Organization for years to obtain more favorable bank loans and insurance terms. Judge Arthur Engoron dismissed an attempt by Trump's attorneys to quash a subpoena issued to Ivanka Trump by Attorney General Letitia James but gave her until November 1 to appeal the decision. Ivanka Trump served as a senior advisor to her father, the frontrunner for the 2024 Republican presidential nomination, while he was in the White House but has kept a low profile since he left office. She abandoned her roles in the Trump Organization in January 2017, when her father became president and she and her husband, Jared Kushner, both took up posts in his administration. Before that, Ivanka Trump was an executive vice president of the Trump Organization and was notably in close contact with one of the group's biggest lenders, Deutsche Bank, according to the attorney general's office. The 77-year-old Trump and his sons are also expected to testify at some point during the trial being held in Manhattan. The former president does not risk going to jail, but James is seeking $250 million in penalties and the removal of Trump and his sons from management of the family real estate empire. Trump has repeatedly denounced the trial as a Democratic witch hunt intended to derail his 2024 White House bid. The post Ivanka Trump ordered to testify in father’s fraud trial appeared first on Daily Tribune......»»
PCSO ask lawmakers to toughen laws vs illegal lottery firms
The Philippine Charity Sweepstakes Office General Manager Mel Robles, called out lawmakers on Monday to toughen the law against Illegal lottery firms. Robles personally led the filing of charges at Mandaluyong Prosecutors Office against individuals behind the four firms engaged in unauthorized online lottery operations. “I am calling out the attention of the lawmakers to toughen the law. Maybe others see that they can handle the penalty but we’ll see. Even if it’s light, we will still pursue the cases against them,” Robles said. Robles added that PCSO is losing billions of pesos in revenue because of illegal operations perpetrated by the suspects. “We are serious about this. We will prosecute and imprison everyone associated with this illegal operation to stop them,” he said. The PCSO stated that PayMaya reportedly remitted billions to a company operating an illegal online lottery. “A payment platform, like PayMaya, reported that they were able to remit about P4.7 billion to a company that was operating the Illegal lotto. It is also included in the complaint affidavit,” he said. The criminal complaints were filed against four companies, Eplayment Corporation, Paymero Technologies Limited, GlobalComRCI International, and Blockchain Smart-Tech Co. I.T. Consultancy. The complaints were prompted by an investigation conducted by the National Bureau of Investigation, which revealed that the mentioned companies were responsible for the ownership, operation, and administration of Pakilotto and Surelotto. The companies reportedly misused the PCSO’s name, logo, and various lottery games, soliciting and accepting bets from the public through their unauthorized mobile application and websites. Robles said that based on their investigation, they have found out that the alleged suspects for Illegal online lottery are operating in the cities of Quezon and Cebu. “We found out one in NCR, in Quezon City, the other is in Cebu,” he said. PCSO reported that Eplayment, which operated under the now-defunct website ‘Pakilotto’, was soliciting and accepting bets from the public at an inflated price of P30 per ticket, a 50% markup compared to the standard P20 lotto ticket. Meanwhile, Surelotto, a similar mobile app, sold tickets online for P25, a 25% increase from the regular lotto price. Prizes of smaller denominations are allegedly directly deposited into the winner’s registered bank account, while jackpot prizes require winners to visit the Surelotto office in person. The complaint-affidavit states that the owners, directors, and/or officers of Paymero, Eplayment, GlobalComRMCI, and Blockchain, as owners, operators, and/or administrators of Pakilotto and Sukilotto, have committed Usurpation of Authority under Article 177 of the Revised Penal Code, a violation of R.A. No. 1169, as amended, and a violation of Presidential Decree No. 1602, as amended by Republic Act No. 9287, in connection with Executive Order No. 13, Series of 2017. Robles emphasized that PCSO remains fully committed to preserving the integrity and legitimacy of its lottery games, ensuring fair treatment and protection for the public. The post PCSO ask lawmakers to toughen laws vs illegal lottery firms appeared first on Daily Tribune......»»
Aboitiz Group bags triple Golden Arrow Awards
With a distinguished legacy spanning five generations, the Aboitiz Group remains steadfast in its commitment to fostering positive change in shaping the future as it adheres to the standards and requirements outlined in the ASEAN Corporate Governance Scorecard. This year, following the 2022 compliance period of the ACGS, Aboitiz Equity Ventures Inc. received a 4-arrow recognition after scoring 111.68 points, AEV’s highest ACGS score since the Institute of Corporate Directors inaugurated the Golden Arrow Awards in 2018. Aboitiz Power Corporation and Union Bank of the Philippines both received a 3-arrow recognition for scoring between 100 and 109 points. Consistent top performers It’s also important to note that AEV and AboitizPower have consistently been recognized as top performers in corporate governance, both here in the country and in the ASEAN region since 2013-2017 at the PSE Bell Awards. “This distinction is the result of the Aboitiz Group’s work to transform a legacy business into a hyper-innovative, diversified conglomerate that puts corporate governance and citizenship at the core of its operations. We have always believed that transparency and accountability are essential in building trust amongst our stakeholders and forging strong partnerships in order to drive change,” said Ginggay Hontiveros-Malvar, Aboitiz Group’s chief reputation and sustainability officer. AEV, the portfolio management company of the Aboitiz Group, leads investments in diverse sectors including power, banking and financial services, food, infrastructure, land, and cutting-edge fields such as data science and artificial intelligence. The Group is presently undergoing a profound transformation to establish itself as the Philippines' first "techglomerate." This innovative growth strategy, fueled by technology and a renewed entrepreneurial mindset, empowers Aboitiz to drive transformative change, shaping the future of its businesses, host communities, and the nation. The Golden Arrow Recognition serves as a testament to Aboitiz Group's unwavering commitment to upholding the highest standards of corporate governance. Aboitiz has excelled in several key areas such as compliance, sustainability, and innovation — positioning it as a frontrunner in the realm of corporate governance. This honor reflects the Group's ongoing commitment to creating value for its shareholders, stakeholders, and the broader Filipino community. Robust policies Aboitiz Group’s robust policies and procedures across every level of the organization form the bedrock of its commitment to excellence in corporate governance. Furthermore, the company's board of directors is characterized by its independence and diversity, playing a pivotal role in providing oversight and making strategic decisions aligned with the best interests of shareholders and stakeholders. Aboitiz places great emphasis on transparency, providing clear and comprehensive information regarding its financial performance, operations, and decision-making processes to ensure that shareholders and the public remain well-informed. In terms of regulatory compliance, Aboitiz is dedicated to adhering to all relevant laws, regulations, and standards related to corporate governance. The company continuously updates its policies to ensure alignment with evolving requirements. When it comes to ethical business practices, the Group's commitment to ethical conduct and integrity remains unwavering. “This award reaffirms the team’s adherence to the shared responsibility of sustainably managing the organization. This further motivates us to champion the highest corporate governance and ethical standards as we continue to grow the business,” said AboitizPower president and chief executive officer Emmanuel Rubio. “Likewise, we also exert as much effort and diligence in upholding environmental preservation and the societal good within the areas we have the privilege to serve,” he said. Corporate governance For his part, UnionBank lead independent director Roberto Manabat said, “We humbly accept this recognition as a reinforcement of the principles that guide the Bank. Our corporate governance practices reinforce the requirements of a constantly evolving business landscape. We ensure that they comply with new regulations and are ready to adopt best practices.” Aboitiz is deeply committed to sustainability and corporate social responsibility initiatives. The post Aboitiz Group bags triple Golden Arrow Awards appeared first on Daily Tribune......»»
Aboitiz Group bags triple Golden Arrow Awards
With a distinguished legacy spanning five generations, the Aboitiz Group remains steadfast in its commitment to fostering positive change in shaping the future as it adheres to the standards and requirements outlined in the ASEAN Corporate Governance Scorecard. This year, following the 2022 compliance period of the ACGS, Aboitiz Equity Ventures, Inc. received a 4-arrow recognition after scoring 111.68 points, AEV’s highest ACGS score since the Institute of Corporate Directors inaugurated the Golden Arrow Awards in 2018. Aboitiz Power Corporation and Union Bank of the Philippines both received a 3-arrow recognition for scoring between 100 and 109 points. AEV and AboitizPower have consistently been recognized as top performers in corporate governance, both here in the country and in the ASEAN region since 2013-2017 at the PSE Bell Awards. “This distinction is the result of the Aboitiz Group’s work to transform a legacy business into a hyper-innovative, diversified conglomerate that puts corporate governance and citizenship at the core of its operations. We have always believed that transparency and accountability are essential in building trust amongst our stakeholders and forging strong partnerships in order to drive change,” said Ginggay Hontiveros-Malvar, Aboitiz Group’s chief reputation and sustainability officer. AEV, the portfolio management company of the Aboitiz Group, leads investments in diverse sectors including power, banking and financial services, food, infrastructure, land and cutting-edge fields such as data science and artificial intelligence. The Group is presently undergoing a profound transformation to establish itself as the Philippines' first "techglomerate." This innovative growth strategy, fueled by technology and a renewed entrepreneurial mindset, empowers Aboitiz to drive transformative change, shaping the future of its businesses, host communities and the nation. The Golden Arrow Recognition serves as a testament to Aboitiz Group's unwavering commitment to upholding the highest standards of corporate governance. Aboitiz has excelled in several key areas such as compliance, sustainability, and innovation – positioning it as a frontrunner in the realm of corporate governance. This honor reflects the Group's ongoing commitment to creating value for its shareholders, stakeholders, and the broader Filipino community. Aboitiz Group’s robust policies and procedures across every level of the organization form the bedrock of its commitment to excellence in corporate governance. Furthermore, the company's board of directors is characterized by its independence and diversity, playing a pivotal role in providing oversight and making strategic decisions aligned with the best interests of shareholders and stakeholders. Aboitiz places great emphasis on transparency, providing clear and comprehensive information regarding its financial performance, operations, and decision-making processes to ensure that shareholders and the public remain well-informed. In terms of regulatory compliance, Aboitiz is dedicated to adhering to all relevant laws, regulations, and standards related to corporate governance. The company continuously updates its policies to ensure alignment with evolving requirements. When it comes to ethical business practices, the Group's commitment to ethical conduct and integrity remains unwavering. The company adheres to a stringent code of conduct that guides the behavior of its employees, fostering an environment of trust and integrity. “This award reaffirms the team’s adherence to the shared responsibility of sustainably managing the organization. This further motivates us to champion the highest corporate governance and ethical standards as we continue to grow the business,” said AboitizPower president and chief executive officer Emmanuel Rubio. “Likewise, we also exert as much effort and diligence in upholding environmental preservation and the societal good within the areas we have the privilege to serve.” “We humbly accept this recognition as a reinforcement of the principles that guide the Bank. Our corporate governance practices reinforce the requirements of a constantly evolving business landscape. We ensure that they comply with new regulations and are ready to adopt best practices,” said UnionBank lead independent director Roberto Manabat. Aboitiz is deeply committed to sustainability and corporate social responsibility initiatives. The company actively pursues environmental and social responsibility, demonstrating its dedication to creating a positive impact on society and the environment. The post Aboitiz Group bags triple Golden Arrow Awards appeared first on Daily Tribune......»»
BRICS seen overtaking G7
A political analyst at a known think tank disclosed that a rare event happened in world affairs only recently but which hardly merited mention in global publications. Austin Ong, political analyst at the think-tank Integrated Development Studies Institute, said Bloomberg forecasted that the new BRICS+ grouping would dominate the world’s GDP by 2050, overtaking the economic output of the top industrialized countries under G7. BRICS+ recently added six regional players, Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates, aside from the emerging Brazil, Russia, India, China and South Africa and around 20 more countries have expressed interest in joining. The analysis said developing economies desire a greater role in reforming global trade and financial architecture which was manifested in the recent expansion of BRICS. It said marginalizing the Global South is one of the structural flaws of the longstanding Western-built and led world order. The existing system had long given privileges to North America and Western Europe. Geopolitical experts said the industrialized countries failed to adjust to changing realities, notably the rise of a more multipolar world. Emerging and fast-developing countries will no longer beg or wait for a seat at the table if their appeals fall on deaf ears and trade barriers are put up to restrict them. 2006 foundation Ong said BRICS has come a long way since the meeting of foreign ministers of Brazil, Russia, India and China on the sidelines of the 61st UN General Assembly in 2006 which resulted in the forming of the group. The original BRIC convened their first leaders’ summit in Yekaterinburg, Russia in 2006. Developing economies desire a greater role in reforming global trade and financial architecture which was manifested in the recent expansion of BRICS. By 2010, South Africa had joined. In 2015, they created the New Development Bank, based in Shanghai. The group indicated openness to new members, which can bring vitality and expand the organization’s resources and influence. In contrast, the G7, which dates to 1973, remained stagnant since expelling Russia from a short-lived G8 in 2014. US-led Quad, founded in 2007 and revived in 2017 is also having a hard time taking off. The security quartet failed to induct new members despite overtures to other Indo-Pacific countries. “The obvious security focus of the grouping made regional countries edgy about formally joining the minilateral,” according to Ong. The post BRICS seen overtaking G7 appeared first on Daily Tribune......»»
Nina Lim-Yuson — A lifetime of girl scouting
The president of the Girl Scouts of the Philippines, Nina Lim-Yuson, grew up in a family and home of Girl Scouts. Her grandmother, Pilar Hidalgo-Lim, was one of the co-founders of the GSP. “It was actually my Lola Pilar who suggested to Josefa Llanes Escoda, the GSP founder, to go to America to learn about girl scouting.” This tidbit of history, Nina shared in an online interview with the DAILY TRIBUNE. Pilar Hidalgo-Lim became GSP president, and so did Nina’s mother, Estefania Aldaba-Lim, who served as secretary of the Department of Social Welfare and Development. Nina’s sister too, the eminent broadcast journalist, Cheche Lazaro, was a Girl Scout. Coming from a lineage of women achievers, Nina could not have chosen a different path. It was scouting that formally introduced the family to social responsibility, skills development and citizenship. Her brothers were also Boy Scouts. “I started when I was six years old and it was my Lola Pilar who inducted me as a Brownie. It used to be called Brownie because we were still using the American pattern,” she related. She belonged to Troop Number One, the first to be organized by the GSP national headquarters. In high school at the Jose Abad Santos Memorial School of the Philippine Women’s University, she became a junior and later a senior Girl Scout. College would briefly end her Girl Scouting as she focused on her studies. Along the way, she also danced with the Bayanihan Folk Dance Company. It was not unexpected that she would return to scouting, her first love, and her first extra-curricular activity. For the last 36 years, she has been active in various organizations and volunteer work. She founded the Museong Pambata. She is a recipient of The Outstanding Women in the Nation’s Service and is active in its various social development efforts. What Nina brings to her post is the legacy of leadership that had been passed on to her through generations of women leaders in the family. “My Lola Pilar was my idol. She was such a nice person and I never knew her totally as a president. I knew her more as a loving lola from all the stories she related when we rode up to Baguio. “My mother, on the other hand, was the opposite. She was very career-minded. I learned naman from her a lot of things, like being thrifty and having a list of things to do. In terms of organization, she was like that. Because she was in government. And, you know, when we started Museo, while it was actually my concept, I learned a lot from her. She would call me up at 5 o’clock in the morning and she would rattle off what needed to be done, like ‘number one, number two and so on.’ That was her. And I’m glad that I worked with her for six years in Museo. She was the president and I was the executive director for six years. I took over in 2000 as president and chief executive officer. And then, I stepped down in 2017.” Girl Scouts who read and tell stories Nina was elected president of the Girl Scouts of the Philippines for the term 2021-2024 during its 2021 national convention. From day one, she shared, “My purpose was to reach out to the community-based troops because we have always been school-based. Many young women now have social problems so we need to reach out to the communities through our community-based troops.” Also on top of her priorities is literacy development, a cause that she addressed even in the Museo Pambata. She explained, “My advocacy has always been education. So, I was very concerned because the Asian Development Bank reported in 2022 that the World Bank found out that our Filipino children at ages 9 and 10 cannot read. So, I felt that because girl scouting is all over the country, with 96 local councils, the organization could serve as a vehicle for improving literacy in our country. “We started the Girl Scout Storyteller project because storytelling affects the heart first before the mind. When young people start with storytelling, they will love the stories and then the written word. They would then want to read. “We now have storytelling in economically challenged communities and we have partners. We sent out 2,500 books throughout the country with the help of our partner couriers.” Initially, she sought the help of her family foundation “to give a donation. I also sought the help of Ging Montinola, who is into literacy development. Together, we founded the literacy program. We are building this fund to cover the cost of buying children’s books. We will have a storytelling contest next year.” Raising funds for Camp Escoda Nina then shifted the conversation to another major endeavor that she is spearheading as GSP president — fundraising for the 27-hectare Camp Josefa Llanes Escoda in Palayan City, Nueva Ecija, which was donated by the provincial government during the term of Governor Amado Aleta, the father of consul and civic leader Fortune Ledesma. “Palayan is beautiful because it has rolling hills, but it doesn’t have electrical and water facilities and roadworks. It doesn’t have a swimming pool, and it’s so hot in Nueva Ecija. It also does not have a conference hall. This is a big one-time fundraising project because it’s for the future of the girls who are going to the camp. Because as of now, if you go camping there, you have to walk up the hills to get your drinking water. You have to make buhos to take a bath.” She recalled, “In my time as a young Girl Scout, which was of another era, we had to walk in the dark to fetch water to fill up two drums. I was so scared because there were tuko in Los Baños. That taught me to be courageous. Camps really build up your lifetime skills and attitude. Camping is very integral in girl scouting and boy scouting. So, this camp will serve a purpose. It just needs various basic facilities to make it world-class and convenient with the proper amenities, but the girls will continue to learn all those survival techniques and appreciate nature right on the camp.” She praised architect Pippo Carunungan, “who is an environmental planner. He surveyed the site and drew up everything. It will be a beautiful camp, he said, because it’s a gift of nature.” First Lady as Chief Girl Scout Nina recently led the Girl Scouts in a fundraising ball attended by the “First Lady, Liza Araneta-Marcos, who is our Chief Girl Scout. It’s mandated in the GSP constitution that whoever is the female president of the country or the First Lady is the Chief Girl Scout. In the past, we had Imelda Marcos, Gloria Macapagal Arroyo. All the first ladies were all Chief Girl Scouts. “Mrs. Liza Marcos spoke before us and she promised to help. She said, ‘We will make it the best campsite.’ Everyone was excited to see her and she obliged everyone who asked to have selfie with her. She is very friendly. She is really a Girl Scout.” Nina shared, “A generous couple is sponsoring the swimming pool at P6 million, while a gentleman entrepreneur is sponsoring the perimeter fence at P1.5 million. Many other businessmen and leaders have pledged to help build this dream GSP project. “We really need to raise about 50 million to have a very good camp. But when the First Lady heard about it, she said, ‘It has to be P250 million.’ But, really, when we have the funds, we can have deep toilets that have running water instead of tabo-tabo. Since we have a little Pampanga river that runs across the camp, we can build a bridge that crosses it and then the girls can have white-water rafting there in the Pampanga river. “Camp Escoda will be a very important and significant venue for our Girl Scouts to gather, bond, learn new skills and develop as morally upright citizens of the country and the world. It is especially so because camping is integral in any Girl Scout’s life. If you don’t have camping, it’s like half of your scouting life is missing. Every Girl Scout remembers that time of her youth. And being the national camp, it will welcome Girl Scouts representing the 96 councils from Luzon, Visayas and Mindanao who will participate in various events and trainings.” Girl Scouts of all ages As GSP president, Nina travels to various parts of the country. “We have regional conferences aside from the meeting of the Central Board when regional heads and executives come to Manila. “I had just come from Baguio where I stayed for two-and-a-half days. I met our young Girl Scout representatives from ages 14 to 18. I enjoyed listening to them and exchanging ideas with them. I am so happy that we have a wealth of intelligent girls who want to serve the country. They are the ones who are going to take over. “It’s amazing that GSP is no longer limited to old people on the board. We finally have young ones on the board. Our Escoda committee is headed by Jade Delgado from Iloilo. Then we have Justine Bautista. She’s a psychometrician. She heads the Program Committee, which is a big committee because when we were in Baguio, we had 86 girls from all the councils throughout the country. Many of them are running for SK. “So, in my 70s now, which I don’t feel at all, I don’t take any medicines or something like that. Being with young people is what inspires me. Because at 15, 16 or 17, they already know that they have some kind of a mission.” Nina proudly shared that the venue of the Baguio conference, 'Ating Tahanan' on the South Drive was bought during the tenure of my Lola Pilar. We have four buildings there, including the houses of Senator and actor Rogelio de la Rosa and Carlos Valdes, the accountant. Lola Pilar, according to Carlos Valdes, twisted his arm to get a low price. I’m so thankful for all those who preceded me because they bought these places. It’s on South Drive which is so valuable. We even have a reserved forest behind us.” As she looks forward to the next camping and gets even busier raising funds for Camp Escoda, Nina feels elated that “every one of us in the Girl Scouts has been together in our various undertakings. The nice thing is we are now intergenerational because we try to bring in the old with experience, institutional memory and their wisdom born of their long life, and the young who are full of enthusiasm, energy and new ideas.” A star scout for a granddaughter While Nina does her part for the bright future of girl scouting in the country, her personal family too has not stopped contributing to the roster of members to this worldwide organization. Today, a granddaughter of hers, seven-year-old Rocio Yuson de Guzman, is a Star Scout. She is the daughter of Nina’s daughter, Nicky. No grandmother could have been prouder. Nina said, “Rufio loves being a star scout. When I arrived from the recent world conference in Cyprus, I came back with some badges and I gave some to Rufio who is very proud of the little badges that I got for her.” For sure, Nina will pass on not just the badges to Rufio. More importantly, she will give her granddaughter the once-in-one’s-childhood experience of being a Girl Scout and learning “the values that are identified in the Girl Scout Promise and Laws. I think that while there is so much to enjoy and learn, it is the inculcation of these values that would mold her into a well-rounded human being. As we all know, a Girl Scout’s honor is to be trusted. A Girl Scout is loyal, thrifty, courteous… and so on. It’s like a mantra -- the values that one lives by. “I have reached that point when it is not about success or what one accumulates in life, whether awards or accomplishments or material things. It is more about what I can share and scouting gives me that honor and privilege — to do my part in helping mold our young girls and making them aware even at an early age that they have a mission and worthy purpose in life. It is not just about being good and outstanding on your own but it is also about helping others to become better in what they’re doing and live better lives. “And I need not look far. As a grandmother, I dote on my Star Scout granddaughter, Rufio. There’s a world out there for her to discover and in which she has a role to play and use the skills and values she will learn from scouting.” The post Nina Lim-Yuson — A lifetime of girl scouting appeared first on Daily Tribune......»»
ERRAMON Aboitiz: Renaissance man
The Aboitiz family is a big player in Philippine business for over a century. With businesses covering a wide range of industries, including power, banking, food, and infrastructure, the clan’s Aboitiz Group has been creating jobs and opportunities for Filipinos. Founded by Paulino Aboitiz, son of a Spanish farmer who migrated to the Philippines in the late 1800s, Aboitiz Equity Ventures Inc., or AEV, has grown from being an abaca-trading and general-merchandise business to a conglomerate with interests in power, banking, food, property, biofuel and construction. The group is undergoing its Great Transformation to establish itself as the Philippines’ pioneering techglomerate. This innovative growth strategy, powered by technology and a renewed entrepreneurial mindset, empowers the entire group to advance businesses and uplift communities. Among the driving forces propelling the Group’s business revolution is Erramon “Montxu” Aboitiz. Montxu previously served as the president and chief executive at Aboitiz Equity Ventures for 10 years from 2009 to 2019. He also briefly held the role of CEO at Aboitiz Power Corp. in 2018. Presently, he serves as a director at AEV and Endeavor Philippines and as chairman of the Board of Directors at Union Bank of the Philippines. Likewise, he serves as a board observer of the Aboitiz & Company. The Asian Institute of Management named Montxu as the new chairman of its Board of Trustees, effective from 1 September 2023. Montxu joined a respected group of successful business leaders who are dedicated to advancing the progress and welfare of Asia and its inhabitants. He was the 7th chairman of AIM, taking over from Peter Garrucho who held the position since 2017. Montxu graduated from Gonzaga University in Spokane, Washington, USA with a Bachelor of Science degree in Business Administration, majoring in Accounting and Finance. In 2011, he was awarded the Management Man of the Year by the Management Association of the Philippines and recognized as the Entrepreneur of the Year by Ernst & Young. Seven years after that, AIM awarded Montxu with an honorary doctorate in management. Social responsibility runs in Aboitiz blood The Aboitiz Foundation, the social responsibility arm of the Aboitiz Group, donated $10 million to AIM in 2019 — known as the Aboitiz 100th Anniversary Commitment Fund. The fund aims to bridge the local and regional gap in data science and innovation. As a result of this generous donation, AIM’s Aboitiz School of Innovation, Technology, and Entrepreneurship is now able to provide top-notch education and research opportunities in data science, with a focus on practical applications. This is made possible by collaborating with data science professionals and leaders from around the world. Recently, Montxu was elected chairperson of the AIM board of trustees. He is widely recognized for his strong commitment to social responsibility and philanthropy. Regarding the endowment to AIM, Montxu said it targeted assisting AIM in its efforts “to expand its curriculum and facilities towards the direction of a bold future, and the skills and education it will require.” Through his leadership in the Aboitiz Group and the Aboitiz Foundation, he has spearheaded numerous projects that have made a positive impact on local communities. As chairman of the Aboitiz Foundation, Montxu has played a key role in shaping its initiatives. The foundation focuses on three key areas which are education, enterprise development, and environmental conservation. “As businessmen, there is no doubt we seek profits and a return on our capital. But as Filipinos, we are equally guided by a sense of purpose to find meaningful ways of contributing to our communities across the country. This symbiotic relationship of profit and contributing to society is our secret sauce to true sustainability, allowing the Aboitiz Group to drive change for a better world by advancing business and communities,” Montxu added. The foundation implemented various programs and scholarships to improve access to quality education, foster entrepreneurship and livelihood opportunities, and promote sustainability. Aboitiz Foundation has been heavily involved in rehabilitating and improving schools in underprivileged areas. They have renovated classrooms, libraries and other facilities, providing students with better learning environments. The foundation has also donated learning materials and equipment to enhance the educational experience of students. Aboitiz Foundation supports community-based programs that aim to uplift marginalized communities. These programs focus on various aspects such as health, nutrition, livelihood, and disaster resilience. The foundation works closely with local organizations and stakeholders to implement sustainable solutions and empower communities to become self-sufficient. Aboitiz Foundation places significant emphasis on environmental conservation and sustainability. They have initiated projects to protect and restore ecosystems, promote renewable energy, and reduce carbon footprint. The foundation actively supports reforestation efforts, marine conservation, and waste management initiatives. The foundation also has a strong focus on disaster response and preparedness. They have been at the forefront of providing immediate relief and support during natural disasters, such as typhoons, earthquakes and floods. The foundation also works towards building resilient communities by conducting disaster risk reduction and management training programs. Montxu Aboitiz encourages and supports employee volunteerism within the Aboitiz Group. The company promotes a culture of giving back by providing employees with opportunities to engage in community service and volunteer activities. This not only benefits the communities they serve but also fosters a sense of social responsibility among the employees. It also collaborates with various non-governmental organizations, government agencies, and other stakeholders to maximize the impact of their social responsibility initiatives. They work together to address complex social issues and implement sustainable solutions that create lasting change. Aligned with the United Nations Global Compact, AEV drives policies, advocacies, and initiatives to make a lasting impact. The post ERRAMON Aboitiz: Renaissance man appeared first on Daily Tribune......»»
Duterte giveth, Diokno taketh
Since his call in 2017 to veto Republic Act 10931, the law granting free higher education, Finance Secretary Benjamin Diokno has been singing the same dissonant melody. A similar theme can be heard in his most recent attempt to cast doubt on the program’s long-term viability, which is frequently praised as one of the Duterte administration’s legacies. However, as Diokno continues to bang his well-worn drum, it becomes increasingly obvious that his arguments are out of tune and lacking in both substance and harmony. The frequently repeated assertion by Diokno that the free college program is “anti-poor” because of its supposed bias toward wealthy students doesn’t ring true with logic or facts. His claim that wealthy students have supplanted their less advantaged peers in the competition for openings at state universities and colleges lacks supporting data. He tries to play the fiscal unsustainability card by asserting that the program is an exorbitant financial burden for the government. This perspective is myopic because education spending continues to be one of the most effective ways to boost the economy and create jobs. In fact, a World Bank report has said that every dollar spent on education generates ten times as much in economic benefits, thus emphasizing the real worth of such expenditures under RA 10931. Additionally, Diokno ignores the reality that the program has been in force since 2018 after President Duterte rebuffed his veto campaign. After six years of effective implementation, for Diokno to suddenly pronounce it untenable sounds more like pessimism than a valid criticism. Diokno also veers away from the upbeat chorus that is led by President Ferdinand Marcos Jr. and his predecessor, former President Duterte, as he continues to play his dirge. His persistent pessimism has turned him into a maestro of despair rather than a conductor of progress. The Finance chief certainly needs a lot of the can-do attitude of both Marcos and Duterte, the latter with the bravado and tenacity he showed in guiding the country through the turbulent waters of the Covid-19 pandemic. Diokno should learn to instill confidence in the hearts of the populace, or he should just hand the job to someone who would tackle it with more vigor. Diokno claims that wealthy kids who can afford review lessons and other incidental costs are disproportionately benefited by RA 10931. This claim is again without basis as a lot of impoverished students have gained access to higher education without having to pay tuition thanks to this law. A thorough assessment by the Commission on Higher Education showed that the free college program has dramatically increased enrollment rates among students from low-income families. This should lay bare the falsity of Diokno’s claims. If we may add, the CHEd study also resonated with people by emphasizing its contribution to closing the achievement gap between the affluent and the less fortunate. Probably most befuddling of all was Diokno’s unsettling claim that the program benefits students who live close to public universities and colleges. This conflicts with what we see on the ground, of students renting bed space or living with their relatives so they can be near their schools, wherever they may be located. Additionally, the value of an educated citizenry transcends geographical boundaries in the grand scheme of nation-building. It’s ironic that for a Finance chief, the needed comprehension of the complexity of not only our economy and the numbers but also how they relate to society and people seems absent from Diokno’s spiel opposing free higher education. His quest to repeal RA 10931 has fallen short of capturing the long-term benefits of investing in education to improve the lives of underprivileged youngsters. Diokno’s desire to take away what Duterte and Congress have given would be a step backward and an assult in the minds of millions of Filipino students. While undermining President Duterte’s legacy, Diokno’s dissonant song poses a threat to muffle the dreams of numerous Filipino students, one that is intended to deprive them of the opportunity to pursue higher education and the prospect of a better future. The post Duterte giveth, Diokno taketh appeared first on Daily Tribune......»»
Of China’s ‘One Belt One Road’
Sometime in August 2016, I attended the formal media launch of One Belt One Road, or OBOR, in Beijing, China. I thought then that OBOR, also referred to later as Belt and Road Initiative, must be one of the most, if not the most, significant programs of President Xi Jinping, as it was attended by hundreds of print and broadcast journalists from around the world, the Philippines included. OBOR was to revive the “Silk Road” economic belt of ancient China, a land trade route carrying its finest silk and other goods to its neighboring Central Asian countries and later to as far as Europe; whereas today’s Road refers to the 21st Century land and maritime silk route to Southeast Asia, the Middle East and Africa. The land route was launched, I think in 2013, while the maritime route was given a big push in 2017. Early on, China set up the Asian Infrastructure Investment Bank as part of the OBOR mechanism. China sank in the initial capital and was joined later by other member countries. The Philippines was the last country to join AIIB when the late President Noynoy Aquino signed its Charter in the last few minutes of 31 December 2015, and this was ratified a year later during Duterte’s term. In sum, AIIB had 106 members to start. The Philippines, if we look at the records, derived from loans and infrastructure projects, was quite slow in availing of cheap money from this BRI initiative. Indonesia, Singapore, and other ASEAN and African countries had done so for various infra projects, among these railways, dams, and ports. The small loan amount we obtained was later topped up by China in terms of gifts which came in the form of bridges, schools, medical supplies, and vaccines when the Covid-19 pandemic broke out. Add to that are the much-needed arms for our armed forces to get rid of the marauding Maute ISIS terrorist group in Marawi City and additional help to rehabilitate it later. Alarmed by the inroads China was making with the BRI through the land and marine infrastructure built with the billions of dollars it loaned to countries along the silk routes, the West was quick to make a big issue of it when Sri Lanka defaulted, calling China’s loans a “debt trap.” Of course, not a few of those struggling economies defaulted as the impact of the new infrastructure on their development had yet to gain traction. However, President Xi Jinping waived the interest dues. How is it for China midway to the Road’s target completion date of 2049? The BRI has covered more than 68 countries with an estimated 65 percent of the world’s population. All told, the largesse from China resulted in the reduction of dependency on the US and it created new markets for Chinese products. The US of A is fast losing its dominance. China, once wallowing in the quagmire of poverty, is now the second-largest economy in the world and growing. Will China then go beyond firing water cannons at Philippine Coast Guard vessels? This could only be answered by another set of questions. Is China willing to cut the marine silk route that passes through or close to the West Philippine Sea? Will its land route suffice to bring its products to its export markets in the event the sea lane is altogether cut off? Will the Chinese people relish going back to poverty and isolation? The answers are a big NO. So why EDCA? Why not pursue the Philippines-China joint oil exploration in the WPS as the offer stands at a 60/40 sharing agreement in favor of the Philippines? Why build more military bases when these are veritable beckons to war which we as a policy abhor? Why not take advantage of the short maritime link between China and the Philippines to enhance our economy? The price of fuel is skyrocketing. Our peso is depreciating as in a free fall. We have solutions and yet these, too have become problems. The post Of China’s ‘One Belt One Road’ appeared first on Daily Tribune......»»
BSP target: 70% of adult Filipinos to have bank accounts
The country's central bank may achieve its aim of having 70 percent of adult Filipinos with bank accounts later this year as more Filipinos are now part of the official financial system, the new Bangko Sentral ng Pilipinas (BSP) chief recently said. "In our financial inclusion survey in 2021, 56 percent of [adults] in the country had a bank account, a significant increase from just 23 percent in 2017," he said during the BSP 30th Anniversary Reception for the Banking Community. "We're confident we will reach our target of 70 percent by this year," he added. Remolona attributed digitalization to financial equality in the country, allowing people to save money, invest in their futures, and participate in the digital economy more effectively. He added that more Filipinos made more digital payments and formally opened bank accounts. "We're making some progress. At last count, 42 percent of retail payments were in digital form. This is up from just one percent 10 years ago. That proportion should hit our target of 50 percent this year," Remolona said. So far, 258 digital payment companies have been given licenses by the BSP. Remolona expects competition and network effects to result in a system where the "most innovative, efficient, and responsible providers truly respond to customers' needs." Meanwhile, on the sidelines of the banking event, BSP deputy governor Bernadette Romulo-Puyat said that the central bank's recently deployed coin deposit machines (CODM) in various retail locations across Greater Manila Area have already recorded P12 million worth of deposits within just one month of operation. "It's been only one month since we deployed all the machines, but we started with just ten machines. Yet, we have already received 12 million worth of deposits," Puyat told reporters. The machines located in Robinsons Manila, SM Hypermart, SM, and Filinvest Alabang have been experiencing heavy foot traffic, with the Robinsons Manila machine being the most popular. The influx of people depositing coins has been attributed to the artificial coin shortage in circulation, as people tend to keep their coins at home or find it troublesome to deposit them at the banks. The coin deposit machines accept all coins except unfit ones and reject deposits with scotch tape or other items mixed with the coins. Puyat also shared that the highest deposit received was worth P50,000 in coins, which the depositor immediately converted to e-wallet credits. "In fact, 98 percent of depositors use e-wallets for their transactions," Puyat said. The BSP plans to expand the initiative to more locations in Metro Manila. When asked about future plans, she mentioned, "We're planning to relaunch it with Gov. Eli (Remolona) and maybe in Pasig, as Mayor Vico texted me. He also wants it in Pasig." The post BSP target: 70% of adult Filipinos to have bank accounts appeared first on Daily Tribune......»»
El Niño offers opportunities — DA
The Department of Agriculture on Saturday said that El Niño can also increase yield for some crops, especially when its strength is weak or moderate or in water-sufficient irrigated rice areas. While many fear El Niño because of crop losses, reduced food supplies, and water resources depletion, the DA said when El Niño is preceded by normal to above-normal rain, this allows water reservoirs to stock enough water for irrigation. Sunny weather brings higher palay yields and better milling recovery from better quality palay harvest. Agriculture Undersecretary for Rice Industry Development Leocadio Sebastian exhorted DA field officials to apply their knowledge of agricultural science (crop science, crop physiology, agronomy, and agro meteorology) when analyzing historical and current data on El Niño’s impact on agriculture. He further advised them to carefully examine the PAGASA El Niño advisories and climate data to guide their decisions. He expected to be negatively impacted by El Niño during the dry season are water-deficient areas like those in the tail ends of irrigation systems and the rain-fed areas. According to Sebastian, when El Niño is weak to moderate, such as those occurrences in 2002, 2004, and 2007, this may lead to increased production, while the weak El Niño of 2019 caused declines in output in non-irrigated areas while production in irrigated rice fields increased. He asked the field officials to maximize production in irrigated areas and diversify crops in areas expected to suffer from water deficits. Seven El Niño episodes have so far hit the country since 2000. These were in 2002, 2004, 2007, 2010, 2015 and 2016, and 2019. During mild El Niño, palay production still increased, such as in 2002, 2004, and 2007. Data from the Philippine Statistics Authority from 2000 to 2022 showed that palay production in 2001 was at 12.95 million metric tons, rising in 2002 to 13.27 MMT (El Niño), and then inching up to 14.5 MMT in 2004 (El Niño) from 13.50 MMT in 2003, and from 15.33 MMT in 2006 to 16.24 MMT in 2007 (El Niño). Production declined to 15.77 MMT in 2010 (El Niño) from 16.27 MMT in 2009, and rice production was 18.97 MMT in 2014 before dipping again to 18.15 MMT in 2015 (severe El Niño) and sliding even more to 17.63 MMT in 2016 (continued severe El Niño). Production recovered after the 2015-2016 El Niño more dramatically at 19.28 MMT in 2017, dropping in the 2019 El Niño to 18.81 MMT before recovering ground to 19.29 MMT in 2020. So far, PAGASA has been forecasting moderate to strong El Niño by December this year. This should not indicate a doomsday scenario for the rice sector, depending on the amount of rainfall and water reserves accumulated in the dams and reservoirs for the 2024 dry season. And depending on the availability of precipitation or rainfall and water reserves, this should not indicate a doomsday scenario for the rice sector just yet, Sebastian calculated. The US National Weather Service has forecasted a 96 percent probability of El Niño greater than 0.5 degrees Celsius from July 2023 to January 2024; 93 percent from December to February; 90 percent from January to March further receding to 85 percent in February to April. At 1 degree Celsius, the probability of El Nino is 76 percent from August to October; 82 percent from October to December; dropping to 81 percent from November to January 2024; and 64 percent from January to March to 52 percent by February to April 2024. A recent ENSO (El Niño-Southern Oscillation) report said chances of a moderate event are at 84 percent while the odds of it becoming strong at its peak are pretty good at 56 percent. ENSO is a recurring climate pattern involving changes in the temperature of waters in the central and eastern tropical Pacific Ocean. A World Bank study of the impact of El Niño in the Philippines in 2016 cited seven severe ENSO events since 1980, which include both El Niño, ENSO’s warm phase, and La Niña, ENSO’s cold phase. In 1982–1983, El Niño–related droughts affected 450,000 hectares of farmland in the Philippines. The most severe El Niño occurred in 1997–1998, when rainfall fell to half of the historical levels, causing drought in two-thirds of the country. This led to forest fires that destroyed almost 10,000 hectares of natural forests, the WB said. In 2015–2016, dry El Niño conditions lasted for 18 months and affected about a third of the country. In total, six cities, 16 provinces, and 65 municipalities declared a state of calamity. By May 2016, over 400,000 farmers and 550,000 hectares were directly affected by El Niño–induced drought. Later, La Niña caused flooding in low-lying farm areas causing increases in crop pests and diseases. Overall, the most recent El Niño event in 2015–2016 caused $327 million in agricultural production losses, the WB report stated. The post El Niño offers opportunities — DA appeared first on Daily Tribune......»»
US Fed fines Deutsche Bank $186 mn over ‘unsafe’ practices
The US Federal Reserve has fined German lender Deutsche Bank $186 million for sanctions violations and what it called "unsafe and unsound" banking practices at its US subsidiaries. The fines announced by the Fed on Wednesday are the latest in a string of financial penalties levied against the German bank on both sides of the Atlantic for violating anti-money laundering laws over the last few years. The Fed said on Wednesday that it had fined the bank's New York branch after concluding the bank had "made insufficient remedial progress under the 2015 and 2017 consent orders," relating to money laundering and sanctions violations. The bank was also fined for what the Fed called "unsafe and unsound" practices in its relationship with the Estonian branch of the Denmark-based Danske Bank. Deutsche Bank had "deficient anti-money laundering internal controls and governance processes," in its relationship with Danske Bank, for which it processed more than $267 billion in transactions between 2007 and 2015, according to the Fed. The fine unveiled on Wednesday comes after the German lender shelled out almost $630 million in 2017 to end probes by the United States and the UK over Russian equity trades. It was fined a further $41 million by the Fed in the same year for failing to comply with anti-money laundering practices. Deutsche Bank has also been penalized for a host of other failures over the past few years. Last year, it agreed to pay the US Securities and Exchange Commission $200 million over electronic record-keeping failures. In July 2020, the bank agreed to pay $150 million to settle allegations brought by the New York Department of Financial Services for compliance failures connected to its work for the disgraced financier Jeffrey Epstein. And in 2017, the bank was fined $7.2 billion in the United States to settle lawsuits over its role in the "subprime" mortgage crisis, which contributed to the global financial crisis. The post US Fed fines Deutsche Bank $186 mn over ‘unsafe’ practices appeared first on Daily Tribune......»»
BPI fair offers small firms money management tips
Bank of the Philippine Islands will conduct a financial wellness fair to share tips on building small businesses and money management. This event runs 20 to 23 July at Glorietta 2, Makati City and will include conversation sessions with owners of small enterprises who have benefited from BPI Foundation’s financial aid and business mentorship. Tips can be gotten from entrepreneurs manning the Sinag Sari-Sari booth where fair goers can purchase locally made food items, eco-friendly bags and home accessories. The public can also learn how to make gourmet tuyo and liquid soap in vocational skills sessions. Basic banking services BPI will also discuss basic banking services to help Filipinos without bank accounts. The majority, or some 53 percent of the population are without bank accounts, according to the Bangko Sentral ng Pilipinas. They include the less privileged residents of Makati and Pateros who are highly encouraged to participate in the fair. STARBOOKS To spark interest in entrepreneurship among Filipinos for wealth-building, the Department of Science and Technology will also set up a booth for STARBOOKS, an online library where the public can explore concepts in science, technology, engineering and math and use these to design their business ideas. The number of micro, small and medium enterprises or MSMEs has grown from 920,000 in 2017 to more than 996,000 in 2020, according to data from global researcher Statista. Post-pandemic, the government expects further growth in MSMEs as it aims to make the country a predominantly middle-income society by 2040, signaling higher consumption for goods and services among Filipinos. The post BPI fair offers small firms money management tips appeared first on Daily Tribune......»»
ARBO value-chain strategy offers solid ground for MASAGANA rice program
The value chain strategy for agricultural products, which the Department of Agrarian Reform piloted in 2013, particularly on farm clustering, marketing, and linking smallholders to providers of inputs and credit, would be a solid ground for the four strategies of the Department of Agriculture’s MASAGANA Rice Industry Development Program (MRIDP). The DAR’s ARBO (Agrarian Reform Beneficiaries Organization) clustering program, in partnership with Caritas’ Catholic Relief Service, was piloted in 2013 in Bukidnon (in three sites) and Misamis Oriental (two sites). Phase 1 involved linking ARBs with the corporate supply chain, which lasted until 2015, said Assistant Director Lita Rosales of DAR’s Bureau of Agrarian Reform Beneficiaries Development. Then Phase 2—from 2015 to 2017—involved linking farmer smallholders to markets with microfinance. The sites involved in this phase expanded to 98. Phase 3 after 2017 (which was disrupted a bit by the pandemic) already covered 150 sites of clustered farms in practically the entire country, she explained. DAR’s mandate was always to work with ARBOs and clusters formed by them, which DAR linked with suppliers of farm inputs, corporate markets, and providers of farm machinery and post-harvest technologies. The DAR’s ARBO program covered farm clusters producing coconut, corn, sugar, cacao, coffee, livestock, poultry and fisheries, and even rice. With the MIRDP set to be fully adopted, the wealth of experience of ARBOs can hasten the learning curve of newly-organized clusters to be formed by the different attached agencies of the DA. These include the irrigators associations (both national and communal irrigation systems) of the National Irrigation Administration (NIA), the SWISAs (or small water irrigation systems associations) of the Bureau of Soils and Water Management (BSWM), and rice farm cooperatives registered with the Cooperatives Development Authority (CDA). Farmer-members of these groups must be registered with the Registry System for the Basic Sectors in Agriculture (RSBSA) to avail of government interventions. The DA met with DAR and BSWM last 12 July to discuss how the clustering of farmers would be expedited and a follow-up meeting for this purpose has been set for 16 August. Since ARBOs are covered by the Agrarian Production Credit Program (APCP) jointly implemented by the DA, DAR, and the Land Bank of the Philippines, they can avail of loans under the program and in turn, re-lend to eligible ARBs to finance their agri-production projects and activities. The APCP aims to achieve sustainable crop production and increase the incomes of ARBs and their households through the provision of credit and capacity-building assistance. The other DAR programs for ARBOs that could jibe with the thrusts and strategies of MIRDP are stocks and market liberalization, land reform (including the development of land markets), agro-processing and input supply channels, urban finance, and market institutions. MRIDP's MASAGANA stands for MAtatag (climate change adaptation or resiliency), SAma-sama (clustering and consolidation of farms), GAnado (motivated farmers in the rice value chain), and NApapanahon (digital transformation to improve farming practices and program implementation). "MAtatag" aims to boost farmers' climate change resiliency by adjusting the planting calendar during the wet season, shifting main production to the dry season, and promoting crop diversification and crop-livestock-fisheries integration using balanced fertilization, proper irrigation, and other climate-smart practices. "SAma-sama" seeks to create economies of scale by clustering farmers and consolidating farms at the barangay and municipal levels and converging interventions. They will be linked to millers and the NFA, enabling cooperation between farmers, millers, and government institutions to achieve better prices, better quality rice, and appropriate seed distribution. This, too, is the essence of "GAnado", or the value chain approach. "NApapanahon" supports the first three approaches by providing timely and accurate information for decision-making, making interventions digitally based, location-specific, and efficient. The MIRDP will support rice clusters with seeds, fertilizers, and soil ameliorants; training-related activities; credit programs and loan facilities; crop insurance; market assistance; irrigation projects (NIS, CIS, and Small Water Impounding Projects), production and post-harvest machinery and equipment and facilities. The post ARBO value-chain strategy offers solid ground for MASAGANA rice program appeared first on Daily Tribune......»»
Phl energy transition gets backing
President Ferdinand Marcos Jr. emphasized the significance of renewable energy and fossil fuels, expressing the Philippines’ keen awareness of climate change, Malacañang said on Wednesday. According to the Presidential Communications Office, Marcos delivered these remarks when he received a courtesy visit from Mike Kanetsugu, the chairman of Mitsubishi UFJ Financial Group Inc. or MUFG, at the Malacañang Palace on Tuesday. “We are also very conscious of our situation in the Philippines wherein we are very sensitive to climate change,” Marcos Jr. told Kanetsugu. “It is very important that we play also a part to move the balance of renewables and fossil fuels more and more in favor of renewables,” he added. Kanetsugu expressed his dedication to supporting the government in facilitating the Philippines’ shift from fossil fuels to renewable energy. Kanetsugu highlighted the significance of the energy transition agenda of the country and commended the remarkable progress made in energy and infrastructure transition over the last three decades. “Energy transition is a very, very important agenda I consider for this country. We are providing financing, and we work for various transition projects that will contribute to a successful transition of the energy structure [in the Philippines],” he said. MUFG, a financial services company headquartered in Japan, acquired a 20-percent stake in Security Bank Corporation for P36.9 billion in 2016. MUFG commitment As part of its commitment to supporting investments in the Philippines, MUFG collaborated with Security Bank and signed a Memorandum of Understanding with the Board of Investments in 2018. The objective was to facilitate business matching activities, connecting local Filipino businesses with Japanese investors. In 2017, the company introduced the Interbank Fund Management Service, enabling customers to send remittances without incurring fees. Additionally, MUFG and Security Bank donated P44 million to the Association of Filipino Students in Japan to support the education of students affected by the Covid-19 pandemic. To assist in infrastructure projects like the North-South Commuter Railway or NSCR Project and the Metro Manila Subway Project, both funded by the Japan International Cooperation Agency, MUFG has been providing bank guarantee requirements to the Department of Transportation and the Department of Public Works and Highway. MUFG is involved in trade transactions for government agencies, including constructing the 54.6-kilometer Blumentritt-Calamba section of the NSCR and the 36-kilometer Metro Manila Subway line project. Improve bureaucratic processes Meanwhile, the President vowed to “improve bureaucratic processes” in the country’s energy sector to attract more investors to the Philippines. Marcos made the statement on Wednesday during the opening of the 24.9-megawatt Lake Mainit Hydro Power Plant, which will provide about 45,000 homes in the Caraga region with less expensive electricity. “I urge the local government to provide all the necessary assistance to ensure the safety and productivity of this hydropower plant,” Marcos said. The Chief Executive noted that the project would “serve as an encouragement to potential investors to invest in the country, especially in the power generation and renewable energy sectors.” He also thanked Japanese investors for bringing renewable energy technology to the Philippines, underscoring that hydropower plants “improve air quality as [they] produce very low carbon emissions during production.” Marcos said the project was a “defining step” towards the country’s goal of providing much-needed power for the people of Agusan del Norte and neighboring areas. He also highlighted the project’s environmental benefits, saying it would help reduce the carbon footprint and improve air quality. “This project was made possible because of the shared commitment we have with our reliable partners in the private sector, both from the Philippines and from Japan,” the President said. This is a “clear manifestation of the trust and support our two nations hold for each other,” he added. The post Phl energy transition gets backing appeared first on Daily Tribune......»»