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Biden to host trilateral summit with Japan, Philippines on April 11
Washington, DC [US], March 19 (ANI): US President Joe Biden will host a three-way summit with Japanese Prime Minister Fumio Kishida and Philippine President Ferdinand Marcos in Washington on April 11, as announced by the White House, as reported by Kyodo News. This historic summit, the first of its kind involving the United States, Japan, and the Philippines, aims to bolster defence cooperation in response to China's asse.....»»
Should BSP defend the peso?
Amid reports that the Philippine peso is now among the worst-performing currencies this quarter, the Bangko Sentral ng Pilipinas is said to be mulling over intervening to defend the currency at P57 to the US dollar in hopes of arresting its slide. However, it also said it won’t intervene much if the peso slides along with other currencies. In light of present-day realities, should the BSP proceed with an intervention? As we all know, the exchange rate policy is a critical aspect of a country’s economic strategy, influencing its trade balance, inflation rates, and overall economic stability. A fixed rate of P57 to the dollar implies stability and predictability for businesses engaged in international trade. A stable exchange rate can foster investor confidence, attract foreign direct investment, and stimulate economic growth. On the other hand, a flexible exchange rate allows for adjustments in response to changing economic conditions, potentially aiding in external competitiveness. One of the primary arguments in favor of defending the Philippine peso at P57 to the US dollar is stability. A fixed exchange rate provides businesses with a clear and unchanging benchmark for international transactions, reducing uncertainty and mitigating risks associated with currency fluctuations. This stability can attract foreign investors, offering a predictable business planning and investment decisions environment. Moreover, defending the peso at P57 may help control inflation. A stable exchange rate can contribute to price stability by preventing imported inflation. If the peso depreciates significantly, the cost of imported goods and services will rise, leading to higher inflation rates. By defending the peso at P57, the central bank can act as a bulwark against inflationary pressures, ensuring the currency’s purchasing power remains relatively constant. In terms of trade dynamics, a fixed exchange rate can be advantageous. A strong and stable peso makes imported goods more affordable for consumers, contributing to a higher standard of living. Additionally, it can encourage domestic industries by making exports more competitive in international markets. This could lead to increased export-led economic growth, job creation, and reduced trade deficits. While defending the Philippine peso at P57 to the US dollar offers certain advantages, there are also compelling arguments against such a fixed exchange rate. One major concern is the loss of monetary policy autonomy. In a fixed exchange rate regime, the central bank’s ability to independently conduct monetary policy is limited, as it must adjust interest rates to maintain the targeted exchange rate. This lack of flexibility can be a significant drawback, especially in the face of changing economic conditions. Furthermore, a fixed exchange rate may not reflect the true market equilibrium. If the peso is overvalued at P57 to the dollar, it could lead to a loss of competitiveness for Philippine exports. This might hinder economic growth in the long run as industries struggle to compete globally. Additionally, an overvalued currency could contribute to persistent trade deficits, as the cost of imports remains relatively low. Another consideration is the potential for speculative attacks. If market participants believe that the fixed exchange rate is unsustainable, they may engage in speculative activities to profit from an anticipated devaluation. This can lead to increased pressure on the central bank’s foreign exchange reserves, making it challenging to maintain the targeted exchange rate. In conclusion, whether the central bank should defend the Philippine peso at P57 to the US dollar is nuanced, requiring careful balancing of economic objectives. While a fixed exchange rate can offer stability, attract investment, and control inflation, it comes at the cost of reduced monetary policy autonomy and potential distortions in trade dynamics. Ultimately, the central bank must consider the broader economic context, international market forces, and the long-term sustainability of its exchange rate policy. Flexibility and adaptability may be vital in navigating the complexities of the global economic landscape while fostering a resilient and competitive domestic economy. The post Should BSP defend the peso? appeared first on Daily Tribune......»»
Keeping it together
It’s no longer unusual, nowadays, for a family to have one or both parents working in another country, or for grown children to relocate abroad for work or start their own family. Single parenting is also quite common, right along there with blended families and LGBTQ unions with kids. Yet even when families are together in one place — one home, compound, neighborhood or city — it takes a lot to stay “together,” literally and figuratively. Perhaps sensing the threats to what is recognized as society’s basic foundation, our government in 1992 decided to declare the last week of September as Family Week, as mandated by Proclamation 60 signed by then President Fidel V. Ramos. Ramos wanted the week to emphasize the importance of the family as “the foundation of the nation” and “as a basic autonomous social institution,” as well as recognize “the sanctity of family life,” as stated in the Constitution of the Philippines. The world may transform in many ways, but the need for family will never change. “No matter how much life changes and the concept of family evolves, it may continue to benefit human health and wellness by offering a sense of belonging and support,” it aptly states in an article on Better Help, which also enumerates the factors affecting family life as “advancements in technology, changing cultural norms, new priorities and advanced forms of communication fueled by the internet.” The sense of belonging one gains from being part of a family — whether it is in a traditional setup, adoptive or “chosen,” a new kind of family defined in these modern times — has a profound impact on one’s well-being. With government providing the impetus for today’s families to connect or reconnect during the annual Family Week, it is up to each one of us to take steps to keep ours together in these fast-paced, nomadic, dysfunctional times. In the local setting, we already see so many signs of the changing dynamics among families. We could wade through studies to figure out all the issues affecting our core foundation, but we believe one may truly gain more understanding by examining our own experiences. Here, we share the views of people in our sphere, in answer to our query: What do you consider as the biggest challenge for your family in these trying times? Gigie Arcilla, Editor-in-chief Dealing with young adult children presents the challenge of establishing boundaries as they seek independence and transition into adulthood. Striking a balance between support and autonomy, as well as providing guidance while allowing room for growth, can be difficult, especially for a single parent. [caption id="attachment_187927" align="aligncenter" width="1280"] STEPHANIE Mayo (fifth, clockwise) with her family. | PHOTOGRAPH COURTESY OF Stephanie Mayo[/caption] Stephanie Mayo, Film critic and writer I have senior-citizen parents, and my siblings and I are now at the age when our health naturally starts to decline. Even if someone has health insurance, no one can deny how debilitating and expensive getting sick is. Without health, quality of life is decreased. You also cannot work (no work, no pay for freelancers such as myself) if you are sick. Gratefully, none of us in the family are currently seriously ill. It’s just that given that these trying times are also marked by corruption, medical gaslighting, new diseases and viruses and climate change, health problems have become even more threatening. [caption id="attachment_187926" align="aligncenter" width="993"] PAULINE Songco (fifth from left) and dad Arnold, mom Dhen, grandmother Linda and sister Patricia. | PHOTOGRAPH COURTESY OF Pauline Songco[/caption] Pauline Songco, Editor and writer I would say our biggest challenge is finding time to be together. I am always never at home. If I am, I would just be there for a few hours to sleep. I would get up, then go to work again. I find myself having less and less free time than before. My sister is busy with work, and so is my father. My mom is left alone at home with my cats. But, she goes to the gym to occupy herself and to see her friends. Yet, I’m thankful for what we have right now for these are the same things that we used to pray for before. [caption id="attachment_187924" align="aligncenter" width="641"] PAULINE Pascual (first from left) and dad Roy, mom Jocelyn and sister Prizcia. | PHOTOGRAPH COURTESY OF Pauline Pascual[/caption] Pauline Joyce Pascual, Lifestyle writer Our family became even closer during the pandemic, and now that things are almost back to normal, it is the family bonding that we used to that we find the most challenging. My sister is studying and getting ready for her time at college while my parents are back in business and I am now working outside of our province. I miss the good old days even though we still saw each other every week. [caption id="attachment_187925" align="aligncenter" width="638"] RAPHAEL, Rachael, Joylen and Ruben Ramos. | PHOTOGRAPH COURTESY OF Raphael Ramos[/caption] Raphael Ramos, STEM student at De La Salle Araneta The desire to act in spite of the potential consequences for everyone else. The family members’ immaturity leads to a more serious issue and may stunt each person’s development. [caption id="attachment_187922" align="aligncenter" width="2246"] GEL, Dino, Tei and Maui Datu. | PHOTOGRAPH COURTESY OF Dino Datu[/caption] Dino Datu, Chef, journalist and entrepreneur The biggest challenge in families today is creating quality family time. Everyone is so busy and there are so many distractions. While working and school work are necessities, we need to create time to just sit together for regular meals and chat without our electronic devices. Even on rare occasions that everyone is together, dining out, for example, people look at their phones every few seconds. That’s what I think is a big difference between today’s families and those from a few decades back. We often see “perfect” families on social media. Sadly, it seems like that’s the only place it exists. Teresa Laurente, Business Consultant For me, it has to be family, healthcare, children’s education and social media effect on young people. Pamela Palacio, Statistician III, Provincial Government of Bataan Disrespect to God and parents. Negative effect of social media. [caption id="attachment_187920" align="aligncenter" width="1080"] YVETTE Chua-Carrion (fourth from left) beside her husband, businessman Melon. | PHOTOGRAPH COURTESYOF Yvette Chua-Carrion[/caption] Yvette Chua-Carrion, Educator and breakthrough life coach In these financially trying times — the budget for groceries, how to have savings for emergencies (which we hope won’t happen), and high gas prices. [caption id="attachment_187919" align="aligncenter" width="1600"] (FROM left) Riley, husband Noel, Tiffany and Ashley. | PHOTOGRAPH COURTESY OF Tiffany Cuna[/caption] Tiffany Sison Cuna, Former beauty queen turned entrepreneur Disciplining and inculcating values in our children knowing how the Internet plays a vital role in their lives — it could either influence them positively or negatively. [caption id="attachment_187923" align="aligncenter" width="1170"] JIA Bote and dad Milton. | PHOTOGRAPH COURTESY OF Jia Bote[/caption] Jia Bote, Student at the University of Santo Tomas With my father working away from home, the biggest challenge is having more time together as a family. When I was younger, I thought I had all the time in the world to spend time with my family. However, as I grow older, my responsibilities increase, and I have less free time than I used to. I remember spending the peak of the pandemic away from our father, and we could only talk through the phone for months. It was challenging for me not to see my father physically, especially when I go through difficult moments because I believe that we need more of our parents’ wisdom and guidance as we grow older. With the pandemic and the natural course of life, it feels like I have less time and opportunity to be with my father who is also growing old day by day. [caption id="attachment_187921" align="aligncenter" width="1242"] ALEX and Jet Capina (fourth and fifth from left) with their children. | PHOTOGRAPH COURTESY of Jet Capina[/caption] Jet Capina, retired bank vice president Our challenge is how to make the family complete on weekends. My children have their own gimmicks. Before every Sunday we were together attending church service but after the pandemic each of them esp Paolo is out of the house to be with his gf. I don’t think it’s good to write about it. Our challenge is how to make the family complete on weekends. My children are all good and well behaved but having grown up, the elder ones now and then have their own gimmicks. I am happy that my husband, who often plays golf, is with me always. The post Keeping it together appeared first on Daily Tribune......»»
The Advantage of Adopting the Right Digital Tools for your Business
Amid the uncertainty in customer behaviors and trends from the crisis, this much is clear: updating the business for a digital-first world, led by purpose, is now a must for almost every company. To do so, they must determine where new business value exists in the new normal, what digital business models will capture it, and which tools and behaviors will support the adaptability and resilience that these models require. On this section, we talked to the creators behind the award-winning platform made for businesses like yours. The Digital Advantage Companies need an understanding of 3rd Platform technologies to capitalize on improved decision-making and to deliver enhanced, customized experiences to stakeholders. The rapid acceleration of 3rd Platform technology adoption means that corporates need to actively be looking for ways to improve their operational efficiency and customer service, otherwise, they will be in danger of falling too far behind digitally-native competitors to ever catch up. Efficiency Past recessions show that controlling costs by improving operational efficiency—a task for which digital solutions are perfectly suited for—is more effective in sustaining businesses through financial turbulence than traditional cost-cutting measures alone. The biggest efficiency play is automation. Streamlining operations and automating manual processes result in greater speed, less waste and more focus on revenue-generating activities. The economics of automation is simple: the same work is performed faster and with fewer mistakes, while human capital resources can be redeployed to higher-value tasks or to fill critical gaps. Convenience Company bank accounts are available in any device, the only things you need are internet connection and a few taps on the screen. This brings about an increase in customer satisfaction as they are able to constantly keep track of their account balances and manage the information on their personal profile (i.e. add new mailing address, e-mails, telephone numbers, etc.). In addition to this, there is no need to go to the bank to get checks as they can be instantly sent via email. 24/7 Reliability Online banking services are available 24/7 all year round, even on weekends. There is no need to line up and wait for the bank to open in order to conduct certain operations. This is a huge advantage that comes with digital solutions Security With all the recent news about data breaches, you might be wondering about the security of mobile and online banking. Security is top priority for banks when choosing whether or not to offer online banking. All banks use “Pentagon-grade” encryption technology and sophisticated firewalls. Mandatory security upgrades are required by bank regulators, so you can be confident that keeping your information secure is one of your bank’s utmost priorities. As digital transactions increase and productivity grow, companies must take proactive steps to protect their data privacy and security and adopt models that give them governance over their data. Today’s Platform Driven Solutions Self-service account management, bills payment and electronic fund transfers are considered the basic banking functions that each business should have. Account management allows viewing of account balances and transaction history without going to the bank. All these were made easy and accessible, by just logging into UnionBank’s The Portal app. Bills Payment, on the other hand, gives businesses access to a large list of billers. They can pay their water, electricity, telco, and other utilities online. BIR ePayment is also available, allowing users to pay taxes online. If the company is an accounting firm, they can also pay for their client’s taxes on The Portal app. Electronic fund transfers save companies time and reduce their risk exposure. Just upload the batch crediting file on the platform and it automatically disburses it to their recipients. Clients can also set up their recipients in UnionBank Business Banking so they receive email and SMS notifications every time they are credited. All these are made possible without stepping inside a branch. Batch Electronic Funds Transfer is also now made available for UnionBank Transfers and PESONet. This enables the streamlining of bulk account to account transfers to another UnionBank account or to other bank accounts. This has highlighted the ease and convenience of going digital to corporate clients versus processing transactions through the traditional way of banking over-the-counter or paying via cheques. Going beyond the basic functions of a normal digital banking tool, The Portal’s self-enrollment feature allows businesses to conveniently self-enroll their nominated accounts and users through the simple enrollment steps. Once completed, access to The Portal is granted and clients may enjoy the convenience of processing their funds transfer instructions online. In addition, there is an option to initiate the enrollment of the beneficiary accounts individually or in bulk. This can be essential for clients that need a payee maintenance feature to ensure that the initiated transactions are only credited to enrolled account. With the convenient, hassle-free and straight-through processing in The Portal, businesses can easily push fund transfers in the comfort of their own homes or offices. This pandemic serves as a widespread test case for the effectiveness of these digital solutions, many of which will be permanent fixtures and lead to long-term changes for many businesses. Organizations that embrace digital solutions have greater resiliency in the face of adversity and are way ahead of the competition, which will enable them to recover faster and pivot from playing defense to chasing growth. While many believe it is too idealistic to have a good workplace culture and excellent compensation, many jobseekers significantly consider these two factors when applying for a job, according to two studies. The 2021 Employee Experience Survey by Willis Towers Watson reported that 89 percent of respondents believe a positive employee experience is a crucial driver of engagement, while a 2023 survey from the online recruitment platform JobStreet found that 53 percent of Filipino job seekers would like to know the salary range offered while still in the recruitment process. Aside from great benefits and compensation, employees in the IT industry pointed out that a good work culture and environment, as well as training programs, are the top priorities of job seekers. Vanessa Liwanag, business development director at Yondu, acknowledged the company’s role in her growth, “Yondu has helped me develop my leadership, decision-making, and communication skills through its effective leadership training programs. The company also helped me grow personally because of its hybrid setup. This allows me to have a work-life balance. I can still care for my family and health while contributing to the organization.” Leather, who specializes in securing networks from vulnerabilities, noted that training programs are essential as trends continuously evolve. IT professionals need to keep up in order to be efficient. Steph, a software solutions engineer, echoed this, adding that since the industry is highly competitive and fast-paced, getting equipped with the right skills and knowledge is essential. Grace, a malware researcher, said that one advantage in the IT field is that since it’s a broad industry, there is always much to learn and room for improvement. Yondu, an IT solutions company wholly owned by Globe, offers all these benefits and compensation, a good working environment, and training programs to Yondudes, a nickname for its employees. Competitive pay and benefits are OK for Yondu as the company ensures this through regularly benchmarking market data and best practices. There are also tailor-fitted rewards programs according to talent segments. Yondu also ensures its employees remain competitive and well-equipped by industry standards through various training, reskilling, and upskilling programs to hone their skills in the constantly changing tech industry. Despite the fast-paced sector continuously evolving, Yondu still values work-life balance and provides programs to support Yondudes’ well-being further. “What sets Yondu apart from other organizations is its genuine focus on understanding and supporting its employees,” said Javen Babac, lead application support specialist at Yondu. “The company recognizes that employees perform their best when they feel valued and supported, and this philosophy sets Yondu apart by fostering a positive and inclusive work environment. The organization’s commitment to understanding its employees and providing the necessary resources demonstrates its dedication to employee well-being and sets a strong foundation for professional growth and job satisfaction.” The post The Advantage of Adopting the Right Digital Tools for your Business appeared first on Daily Tribune......»»
Cloud aids banks scale up operations
One of the world’s leading open platforms for composable banking, Temenos, underlined that cloud applications can help banking institutions efficiently scale up operations. Temenos serves 3000 banks from the largest to challengers and community banks in 150-plus countries by helping them build new banking services and state-of-the-art customer experiences. Temenos Banking Cloud, the company’s SaaS offering, is used by over 700 clients across more than 30 jurisdictions. During Temenos Cloud Forum 2023 forum for bank professionals in the Philippines, graced by representatives from the leading banks in the country, Temenos Financial Services Partner for Ernst and Young, Anurag Mishra, discussed “Banking Transformation” explaining that the cloud could help banks to efficiently scale their operations and design customer experiences which are more engaging. “One of the most important shifts that is happening is on the customer side. Banking is going to transition while customers are demanding ‘hyper-personalization’ and that requires new technologies. Today is the best time to shift from a technology perspective because the number of options to deliver on customer experience is huge and the cloud can solve specific problems,” according to Mishra in his presentation. On the other hand, Temenos Business Solution Lead for ASEAN, Rishi Sarin, explained the changing landscape and the challenges in the banking industry. “In a recent report published by Accenture “The ultimate guide to banking in the Cloud 2022,” 94 percent of banking respondents said that about 50 percent of all their banking business and technologies will migrate to the cloud in the next three years, while cloud adoption increased 2x in 2022 compared to 2021. There are currently huge investments by Cloud providers in the market so when we offer it as a service, it’s not only the reliability that comes in, but we can also provide security, stability and resilience,” Sarin said. He reiterated that the traditional set-up in which banks usually manufacture and distribute their own products, is changing fast as end-customers are demanding financial services at the point of need and it doesn’t necessarily matter to them who is providing those services. This fundamental shift is giving rise to new business models like embedded finance or Banking-as-a-Service. Temenos Principal Solution Consultant for Digital Banking Solutions for Asia-Pacific, Bala Carcharla, highlighted the three stages of “Lifestyle Banking.” The post Cloud aids banks scale up operations appeared first on Daily Tribune......»»
Security Bank wins award at Asian Banking and Finance Retail Awards
Security Bank Corporation bagged the New Consumer Lending Product of the Year award at the Asian Banking and Finance Retail Banking Awards 2023 for its Complete Cashback Platinum Mastercard. The Complete Cashback Platinum Mastercard was lauded for having the best-in-class rewards and rebate program for practical spending. The tiered rebate structure covers the most relevant everyday spend categories of cardholders: 5 percent rebate on groceries, 4 percent rebate on gas, 3 percent rebate on utilities, 2 percent rebate on dining, and 1 percent rebate on shopping. Moreover, the card offers supplemental benefits like airport lounge access (i.e., Marhaba Lounge at NAIA Terminals 1 and 3), e-commerce purchase protection, and exclusive shopping and dining offers. The card was also recognized for its overall proposition and convenience in terms of experience. Now in its 18th year, the Asian Banking and Finance Retail Banking Awards honored retail banks and financial institutions in the Asia Pacific region for their innovative products, services, and solutions that made a positive impact on customers. The recognition is yet again a testament to the commitment Security Bank shows through its compelling product offerings. Over the years, the Bank has further strengthened the market appreciation of its retail banking business despite the changing market conditions by staying true to its core—providing what customers want and need and investing in what matters to them. “We’re thrilled to receive the ‘New Consumer Lending Product of the Year’ award for our Complete Cashback Platinum Mastercard,” said Maricar Filart, SAVP and Product Management & Communications Head at Security Bank. “This recognition reflects our commitment to providing innovative financial solutions that truly enhance our customers’ lives. We are dedicated to continuously improving our products and setting new standards for excellence in the industry.” In its pursuit to become the most customer-centric bank in the Philippines, Security Bank also recently received praise for its outstanding achievements from other award-giving bodies such as Alpha Southeast Asia and Asiamoney for being the Best Retail Bank in the Philippines and Best Bank for High-Net-Worth clients, respectively. The post Security Bank wins award at Asian Banking and Finance Retail Awards appeared first on Daily Tribune......»»
Idolizing Danny Dolor (The man I might have been if I had at least P500 million)
Here’s sharing with you Cyber Proust’s (now Proust Redux) winning piece when he joined the 2010 Philippine Star Lifestyle Journalism Contest sponsored by Rustan Commercial Corporation and the Stores Specialists, Inc. The announcement called for feature articles, as many as one could submit, about heroes, dead or alive. Cyber Proust submitted three — one about his mother; another about a blogger who tells stories about his clan and people like them, making for a good read for people interested in Philippine upper class but not necessarily high society; and this one, about Danny Dolor, Cyber Proust’s patron and benefactor when Cyber Proust had not yet declared himself rich. Here goes: My hero, my icon, the man I’d rather be When people are asked who they want to be if they ever get the chance to live their lives all over again, they almost always say they want to be the same person. If you ask me the same question, I’d have the same answer, only because I want to keep the same set of parents. But if I could keep my Dad and Mom, and still be someone else, I’d look at you straight in the eye, and declare, I want to be Danny Dolor. I can think of a hackneyed thousand and one reasons why I prefer to breathe and eat and live like Sir Danny, but let me stick to the quintessential five. First, he is rich which we all want to be. He is an art lover which I profess to be. He is a trailblazer even if he is a Libran who prefers balance, while I am an Arian who always wants to be the first. He was a good son who took care of his mother in her old age, which every good son should do especially if he were single. I am single, but I was always away from home, too busy changing and finding writing jobs. The closest I got to emulating Sir Danny was spending endless nights conversing with my mother whenever I was home during Christmas breaks. Sir Danny, on the other hand, never travelled abroad because he wanted to be by his mother’s side every night of the year. When he visited Lipa, their hometown, he would pick up his mobile phone to check on his mother and sister Fe in their Makati home, rattling off his orders to their yaya — check their temperature, don’t forget the medicine after their merienda, and so on. Finally, Danny Dolor is a good Catholic who hears Sunday Mass, fingers his beads when in the car, and joins the procession on Good Friday beside his own Mater Dolorosa. How I wish I could give away lands on which to build churches, donate thousands of portfolio bags for priests attending their annual convention, and build a museum in honor of a townsman, Alfredo Maria Obviar, who may yet be the first Filipino bishop to be beatified and, in God’s time, canonized. First conversation I am lucky to have an icon whom I have seen up close. I have seen Danny Dolor when he goes into a trance as he describes his first conversation with National Artist Atang de la Rama, to whom he became a friend and confidante, or fits of laughter as he recalls the usually funny repartee between his friends Sylvia La Torre and Oscar Obligacion when the latter was still alive. For all the secrets and fun times we have shared, I stick to calling him Sir as I did the first time I interviewed him in his thickly-carpeted, air-conditioned and perfume-smelling den. I had known about the man before I ever met him. I knew about his Tribung Pinoy which concertized all over the country in the late 1970s all the way to the mid 1980’s. I never saw them perform in person, but I read about Danny Dolor and his gang of sopranos, tenors and baritones who rendered their harana, danza, balitaw and, of course, kundiman, in schools and churches, and quixotic venues like the Culion Leper Colony in Palawan, the mental hospital and the women’s correctional where the patients and inmates cried, sang, danced and thanked him because no one ever came to sing for them. The path-breaking Danny Dolor also produced the first ever concert at the Cultural Center of the Philippines featuring an all-Filipino-traditional-music repertoire. Danny Dolor’s house, at that time when I interviewed him, was along Tamarind corner Banaba in uppity Forbes Park. In the den, paintings, sculptures, plaques, and trophies vied for the attention of first-time guests. I immediately liked a Zalameda portrait of a basketball player, but what impressed me was a plaque with Latin inscriptions which, my host explained to me, was his papal award. He next brought me to the lanai, thrice as large as the den, where beside the lacquered opium bed stood a gigantic St. Joseph. He showed me a life-size oil portrait of Charito Solis, Ramon Valera ternos worn by Gloria Romero and his sister Fe, and original drawings of Darna by Mars Ravelo. The man, who knows his art, takes pride in his penchant for everything Filipino. It is an interest that goes a long way back to his childhood during the Japanese occupation. In the family hacienda where they evacuated, he listened to the farmers sing native songs. In grade one a year or two later, the young Danny sang Bayan Ko before his classmates, to the shock of the teacher who probably expected Jack and Jill. When Sir Danny was in grade school, he watched Filipino films in the movie houses along Rizal Avenue. As a high school student, he listened to the Mabuhay singers over the radio. In college, he watched Tawag ng Tanghalan on television. Is it any wonder that he should mount a best-selling exhibit of movie ads from the golden years of Philippine cinema? Or that he has maintained, for more than ten years, a column in the Philippine Star, “Remember When?” featuring the movie stars and great musical talents of yesteryears? Danny Dolor is unique in that he straddles the worlds of show business and high society, which many find incompatible. Not with him who has produced movies, including Indie films, and concert tributes honoring luminaries of the silver screen like Director Hermogenes Ilagan and movie queen Carmen Rosales. His involvement in the upper strata, on the other hand, is never without a good reason. For example, he collaborated with the socialite businesswoman Nedy Tantoco in organizing the best-selling Ramon Valera retrospective exhibit. If he is chummy with the grand dame Imelda Cojuangco that’s because he is a loyal and trusted officer the Cofradia de la Inmaculada Concepcion, of which she is the chair. Every year, come Feast of the Immaculate Conception, they gather hundreds of children from depressed areas to receive their first holy communion. Imagine the mix For all of these, he takes a break from his duties as chairman of various companies that include a hospital, hotel, educational institution, bank and subdivisions. Imagine the mix — movies, music, church, business and high society. And he dances the Rigodon too. How can one not desire such completeness? There’s something though he’d rather not be said about him. In my times of need, he does not hide under his canopied bed, and in the milestones of my life, he gives me a thick red envelope. Once I ran out of cash to pay my rent, I called him up and told him that if only I could touch the tip of his pants, I was sure to have what I needed. Scolding me first for being such a cheap copy of the woman in the bible, he said Yes to my pleadings, while reminding me to help him prepare another souvenir program for yet another concert tribute for another forgotten gem of Philippine music. The man does not believe in outright charity. Not to me, anyway. And while he is patient with me, he insists that I “fix” my life for “all these things you delight in will soon come to pass” and “if you do not take care of yourself, who will?” and so on. From his mother, he passes on a classic gem, “Never do anything that people will notice from afar,” a rough translation of “Huwag kang gagawa ng kahit anong matatanaw mula sa malayo.” In short, don’t be a show-off. My hero and icon, Danny Dolor, is not only a model for living the successful and well-lived life that I dream about. He is also a saviour, a mentor and an angel who, despite the “professional distance” we keep between us as a “client” and as a “talent,” if the relationship must breed results, has come closest to being my “Tito” and best friend. Sir Danny will not be pleased with this article. He will think that I need to borrow money from him again. The post Idolizing Danny Dolor (The man I might have been if I had at least P500 million) appeared first on Daily Tribune......»»
Quick AI response as small biz magnet
Digital banking powered by artificial intelligence or AI is increasingly becoming the norm. How fast and flexible industry players can maximize benefits from this technology to provide credit to most small businesses is the edge, Edwin Bautista, president and CEO of Union Bank of the Philippines, told the Daily Tribune. [caption id="attachment_164549" align="aligncenter" width="585"] Edwin R. Bautista, president and CEO, UnionBank of the Philippines[/caption] “All we know is AI will disrupt industries, so the earlier you try to figure out how to adopt it, the better. Now, the question is, how many financial institutions are prepared to make that bet of lending using alternative data sources using AI?” Bautista said. UBP’s digital banking arm UnionDigital Bank is shifting gears to provide small businesses with accessible loans using AI. It collects data from the Internet and humans and organizes them into qualitative and quantitative categories to generate text, images, audio and videos. Many small business owners usually need financial statements on paper, as they sell products and services primarily online through social media, such as Facebook, Instagram and TikTok. However, Bautista said their financial capabilities could be traced and analyzed even without the formal documents required by traditional banks, such as income tax returns, financial statements, and trading partners profiles. He stressed AI does not discriminate. “When you look at the smaller businesses, they appear as an underground economy, so they cannot produce those kinds of documents. AI will help us because what it does is it puts together different information about that particular business or person and flow of sales so it can give a prediction on whether the small business owner will pay you back or not.” This technology is critical to lenders, including informal lenders, as micro, small and medium enterprises comprise 99 percent of all businesses in the country and drive most of its economic activities. Global market researcher McKinsey & Company said Philippine-based lenders can boost their growth by tapping the country’s bankable population, which is expected to expand by 30 percent to 85 million by 2030, along with owners of small and medium enterprises. “The Philippines has an estimated 15 million informal entrepreneurs and self-employed workers. Meanwhile, retail lending is heavily concentrated in a narrow band of wealthy households,” the researcher said. McKinsey reported a few domestic digital banks had gained traction, with three digital banks, including UnionDigital, growing a total market value by $3 billion. In contrast, traditional banks only saw a $2.2 billion growth between January 2021 and January 2023. However, McKinsey stressed digital banks in the Philippines have been limiting their services to mobile payments. “While competition in digital financial services intensifies, dominant players have yet to emerge outside the mobile-payments subsector. Six digital banks have recently launched operations in the Philippines, but none lend at scale.” Unlike informal lenders, Bautista said digital banks can reach more borrowers as AI learns about all people with access to the Internet and produces sound data correlations. “The theory is that if you have many friends and are grounded in a particular community, chances are you will not just run away from your debt. The minute borrowers go outside their community. It’s challenging for informal lenders because they already do not know the people they are lending to.” With the developments in AI, Bautista said UBP is redesigning its brick-and-mortar banks by tapping digital technologies and its UnionDigital to exchange market insights, systems, and people skills to boost mutual growth. “We think we can be the number one Consumer Bank in the Philippines in the next three years. Why? Because Our growth path is based on broadening the base on which we can learn to adapt. You can only do that if you’ve transformed your front, middle, and back office accordingly.” Bautista said this means the ever-changing skills development of people of both banks. While AI has been demonized by some of the labor force and business owners worldwide, saying it will replace traditional jobs and employees, Bautista said the future remains uncertain. Still, it can also highlight innately human jobs. “AI may rather have pluses and minuses. You will be affected negatively, but you will also have a positive impact if new jobs are generated.” Bautista said proof of this is the human eye, intuition, and brain need to verify whether AI-generated data matches customers’ changing preferences and needs. “So today, I can know instantly what my customer sentiments are. If my back-end operations take me six months, what good is knowing today if I can act on it? And the only way I can act is I have people with the ability to modify their things and a back end that allows me to change my products and features near real-time.” The post Quick AI response as small biz magnet appeared first on Daily Tribune......»»
Aboitiz joins global beat plastic efforts
On 5 June, the United Nations’ or UN World Environment Day, the Aboitiz Group demonstrates its commitment to global sustainability efforts by highlighting its groundbreaking innovations in the fight against plastic pollution. With this year’s theme of #BeatPlasticPollution, the Aboitiz Group supports effective action and a transition towards a circular economy to address global environmental challenges. The Group hews close to the UN Environment Program or UNEP’s vision of a shift to a circular economy, in which the inflow of plastics into the ocean can decrease by more than 80 percent by 2040, greenhouse gas emissions are reduced by 25 percent, and in the process even generate 700,000 job opportunities. The Group aims to accelerate progress and inspire others to take bold steps in combating plastic pollution. At the heart of the Aboitiz Group’s operations lies the OneNewAboitiz Sustainability Synergy, guiding the Group toward innovative practices and technologies. The Aboitiz Group’s sustainability achievements work towards a worldwide sustainable development agenda, aligning with the UN Sustainable Development Goals or SDGs. By pushing the boundaries of innovation, the Aboitiz Group tackles pollution challenges with effective solutions. Through these dedicated initiatives and actions, the Aboitiz Group demonstrates its unwavering commitment to sustainable development and actively contributes to the attainment of several SDGs. These include SDG 12 (Responsible Consumption and Production), SDG 13 (Climate Action), SDG 14 (Life Below Water), and SDG 15 (Life on Land). The Group’s efforts specifically focus on promoting responsible consumption and production, taking action against climate change, safeguarding marine ecosystems, and preserving terrestrial biodiversity. Reimagine seaweed As the Group undergoes its Great Transformation to become the Philippines’ first Techglomerate, it is taking an innovative approach to #BeatPlasticPollution, reimagining the world in terms of possibilities and opportunities. With growing interest in using seaweed as an alternative to single-use plastic, leaders within the Aboitiz Group are working on the Reimagine Seaweed initiative, set to transform the seaweed industry of the Philippines. The initiative is holistically designed to create a sustainable and profitable seaweed industry that provides livelihoods to farmers, promotes biodiversity, reduces plastic pollution, and mitigates the effects of climate change. According to the Food and Agricultural Organization, the Philippines is the fourth-largest producer of seaweed globally, supporting 1.4 million seaweed farmers. Under Reimagine Seaweed’s three-pronged strategy, seaweed farmers are taught better farming techniques and are introduced to green technology that will expand their product range to potentially include bioplastics, protein powder, cosmetics, and health supplements. Within the next five years, the Aboitiz Group and the Reimagine Seaweed team are looking to reduce single-use plastics in the region through the production of biodegradable and compostable packaging made from seaweed. This game-changing initiative is making progress towards improving the lives of seaweed farmers, bringing world-class green technology to the local industry, and eliminating single-use plastics in Asia and beyond. By leveraging a renewed entrepreneurial mindset and the latest technologies, the Aboitiz Group tackles global challenges with innovative approaches that advance the business and communities they serve. On the road to ending plastic toxicity, they are also opening up an ocean of opportunity with Reimagine Seaweed. Plastic Neutrality Republic Cement, a CRH-Aboitiz company, pioneered the use of alternative fuels through co-processing in the Philippines. The process involves the reuse and recovery of thermal and mineral properties of qualified waste materials as alternative fuels, allowing Republic Cement to reduce dependence on fossil fuels and minimize environmental impact. The firm uses residual plastic waste, including rejected plastic bottles, styrofoam, tarps, single-use plastic containers and utensils, sachets, shopping packages, and other soft plastics, as alternative fuels. In August 2022, Republic Cement achieved a significant milestone in becoming plastic-neutral. Through its resource recovery group, ecoloop, the company collected and co-processed an equivalent volume of residual plastic waste used in the packaging and transporting of its cement products. By integrating plastic waste into the cement manufacturing process, Republic Cement successfully offset its plastic packaging footprint for 2020 to 2022, equivalent to co-processing over 890 dump trucks filled with plastic waste. Republic Cement also supports numerous manufacturers to reach their plastic neutrality goals and be more responsible corporate citizens and stewards of the environment. Upcycled plastic City Savings Bank, the thrift bank subsidiary of the Aboitiz-led Union Bank of the Philippines or UnionBank, partnered with Envirotech Waste Recycling, Inc. or Envirotech to upcycle plastic waste into classroom essentials: school chairs. In support of the Department of Education Matatag agenda to supplement basic education facilities and services, CitySavings donated 50 plastic chairs made of upcycled waste plastic to Kapitan Tomas Monteverde Sr. Central Elementary School in Davao City and Tunasan National High School in Muntinlupa City. Likewise, the construction arm of the Group, Aboitiz Construction, has been implementing its policy against single-use plastics across all projects and facilities since last year. The implementation resulted in a 14.60% reduction of plastic wastes from 2022 to 2023. Also, this initiative is anchored in the firm’s compliance to ISO 14001: 2015 (Environmental Management System) and to its future plan of standardizing materials recovery facilities on all sites. The post Aboitiz joins global beat plastic efforts appeared first on Daily Tribune......»»
Aboitiz Group joins global efforts to 'BeatPlasticPollution
On June 5, the United Nations’ (UN) World Environment Day, the Aboitiz Group proudly demonstrates its commitment to global sustainability efforts by highlighting its groundbreaking innovations in the fight against plastic pollution. With this year’s theme of #BeatPlasticPollution, the Aboitiz Group supports effective action and a transition towards a circular economy to address global environmental challenges. According to the UN Environment Programme (UNEP), by shifting to a circular economy, the inflow of plastics into the ocean can decrease by more than 80 percent by 2040, reduce greenhouse gas emissions by 25 percent, and even generate 700,000 job opportunities. The Group aims to accelerate progress and inspire others to take bold steps in combating plastic pollution. At the heart of the Aboitiz Group’s operations lies the OneNewAboitiz Sustainability Synergy, guiding the Group toward innovative practices and technologies. The Aboitiz Group's sustainability achievements work towards the worldwide sustainable development agenda, aligning with the UN Sustainable Development Goals (SDGs). By pushing the boundaries of innovation, the Aboitiz Group tackles pollution challenges with effective solutions. Through these dedicated initiatives and actions, the Aboitiz Group demonstrates its unwavering commitment to sustainable development and actively contributes to the attainment of several SDGs. These include SDG 12 (Responsible Consumption and Production), SDG 13 (Climate Action), SDG 14 (Life Below Water), and SDG 15 (Life on Land). The Group's efforts specifically focus on promoting responsible consumption and production, taking action against climate change, safeguarding marine ecosystems, and preserving terrestrial biodiversity. Reimagine Seaweed As the Group undergoes its Great Transformation to become the Philippines’ first Techglomerate, it is taking an innovative approach to #BeatPlasticPollution, reimagining the world in terms of possibilities and opportunities. With the growing interest in using seaweed as an alternative to single-use plastic, leaders within the Aboitiz Group are working on the Reimagine Seaweed initiative, set to transform the seaweed industry of the Philippines. The initiative is holistically designed to create a sustainable and profitable seaweed industry that provides livelihoods to farmers, promotes biodiversity, reduces plastic pollution, and mitigates the effects of climate change. According to the Food and Agricultural Organization (FAO), the Philippines is the fourth-largest producer of seaweed globally, supporting 1.4 million seaweed farmers. Under Reimagine Seaweed’s three-pronged strategy, seaweed farmers are taught better farming techniques and are introduced to green technology that will expand their product range to potentially include bioplastics, protein powder, cosmetics, and health supplements. Within the next five years, the Aboitiz Group and the Reimagine Seaweed team aim to reduce single-use plastics in the region through the production of biodegradable and compostable packaging made from seaweed. This game-changing initiative is making progress towards improving the lives of seaweed farmers, bringing world-class green technology to the local industry, and eliminating single-use plastics in Asia and beyond. By leveraging a renewed entrepreneurial mindset and the latest technologies, the Aboitiz Group tackles global challenges with innovative approaches that advance the business and communities they serve. On the road to ending plastic toxicity, they are also opening up an ocean of opportunity with Reimagine Seaweed. Plastic Neutrality Republic Cement, a CRH-Aboitiz company, pioneered the use of alternative fuels through co-processing in the Philippines. The process involves the reuse and recovery of thermal and mineral properties of qualified waste materials as alternative fuels, allowing Republic Cement to reduce dependence on fossil fuels and minimize environmental impact. The firm uses residual plastic waste, including rejected plastic bottles, styrofoam, tarps, single-use plastic containers and utensils, sachets, shopping packages, and other soft plastics, as alternative fuels. In August 2022, Republic Cement achieved a significant milestone in becoming plastic-neutral. Through its resource recovery group, ecoloop, the company collected and co-processed an equivalent volume of residual plastic waste used in the packaging and transporting of its cement products. By integrating plastic waste into the cement manufacturing process, Republic Cement successfully offset its plastic packaging footprint for 2020 to 2022, equivalent to co-processing over 890 dump trucks filled with plastic waste. Republic Cement also supports numerous manufacturers to reach their plastic neutrality goals and be more responsible corporate citizens and stewards of the environment. Upcycled Plastic City Savings Bank (CitySavings), the thrift bank subsidiary of the Aboitiz-led Union Bank of the Philippines (UnionBank), partnered with Envirotech Waste Recycling, Inc. (Envirotech) to upcycle plastic waste into classroom essentials: school chairs. In support of the Department of Education (DepEd) Matatag agenda to supplement basic education facilities and services, CitySavings donated 50 plastic chairs made of upcycled waste plastic to Kapitan Tomas Monteverde Sr. Central Elementary School in Davao City and Tunasan National High School in Muntinlupa City. Furthermore, the construction arm of the Group, Aboitiz Construction, has been implementing its policy against single-use plastics across all projects and facilities since last year. The implementation resulted in a 14.60% reduction in plastic waste from 2022 to 2023. This initiative is anchored to the firm’s commitment and compliance with ISO 14001: 2015 (Environmental Management System). This year, as part of its continual improvement plan, Aboitiz Construction will be improving its standard MRF (Materials Recovery Facility) across its project sites to improve waste segregation and disposal. The post Aboitiz Group joins global efforts to #BeatPlasticPollution appeared first on Daily Tribune......»»
Inaugural AI summit sets stage for Phl future redefined by AI
Aboitiz Data Innovation, the Data Science and Artificial Intelligence arm of the Aboitiz Group, successfully held the inaugural AI Summit in the Philippines from 10 to 11 May 2023 at the Marriott Grand Ballroom, Pasay, Philippines. In partnership with Union Bank of the Philippines, Aboitiz Equity Ventures and Google Cloud, the groundbreaking event broke open the discussion and incited action on shaping the future of the country with AI. The summit brought together over 1,000 industry professionals from various sectors, marking a significant milestone in the country’s technological landscape. The Aboitiz Group is currently undergoing a "Great Transformation" to become the Philippines’ first "techglomerate" with ADI at its forefront, operationalizing DSAI to transform data into business and sustainability outcomes to better serve the needs of its customers and stakeholders. The "AI Summit PH 2023: Redefining the Future with AI" forum featured real-world use cases of data being turned into actionable insights and deep-dived into discussions on the challenges, opportunities and advancements within the AI and tech space. The AI Summit PH 2023 was opened with a captivating keynote speech titled “Reimagining a Sustainable and Equitable Philippines with AI” delivered by Third District of Negros Occidental Representative and Housing and Urban Development Chairperson Jose Francisco Benitez. In his address, Benitez highlighted the pivotal role of technological innovation in promoting national development, as heralded by the Philippine constitution. He emphasized the need for collective action in equipping the people with the necessary skills and fostering innovation to adapt, compete and flourish in a brave new world. “A digital future is our national destiny. Let us work together to harness its benefits for all,” Benitez said. [caption id="attachment_132920" align="aligncenter" width="1501"] Third District of Negros Occidental Representative and Housing and Urban Development chairperson Jose Francisco Benitez inspired the crowd at the AI Summit PH 2023 with his message on the power of AI and innovation in promoting national development. (PHOTO COURTESY OF ABOITIZ)[/caption] Through a series of engaging events, including talks, fireside chats, panel discussions, knowledge sessions and networking opportunities, the AI Summit PH 2023 provided a platform for industry leaders, tech innovators and game-changers to share valuable insights and actionable use cases of AI implementation. Attendees were exposed to a diverse range of topics, exploring the immense potential of AI in revolutionizing various sectors, driving sustainable urban development, transforming financial services, powering sustainable smart cities and operationalizing DSAI. Google Cloud Southeast Asia’s Regional Customer Solutions Manager Richard Coombes delivered a presentation on how Google is bringing AI to users, business and society. He also participated in a panel discussion on Generative AI with leaders from ADI and Amazon Web Services. Tiffany Adriana, Google Data Analytics - Southeast Asia Customer Solution Consultant joined experts from Connected Women and KPMG Philippines to discuss data-driven foundations with a focus on data literacy and inclusion. The AI Summit PH 2023 also served as an exceptional platform for networking and collaboration, fostering connections among industry professionals, entrepreneurs and visionaries. Attendees had the opportunity to engage with tech innovators and game-changers, expanding their professional networks and exploring potential partnerships. During the two-day summit, ADI and Connected Women launched its partnership on empowering the latter’s members to take on advanced services such as data handling, language annotation and image annotation for ADI’s Data Science and Artificial intelligence projects. ADI and Mila’s partnership on building responsible AI solutions for the power sector was also announced during the Summit through a ceremonial signing. Mila, headquartered in Montreal, Quebec, focuses its mission on core research areas such as health, environment and climate change, and AI ethics. Mila extends its expertise and leadership in AI to deliver advances that will benefit all of society. On the financial services front, LBC Express, Inc., ADI and UnionBank signed a tripartite agreement to champion financial sustainability at the inaugural AI Summit. Through this initiative, LBC clients will have access to small business financing from UnionBank to help finance their expansion plans. The SeekCap Embedded Scoring Agreement was also signed by UBX and ADI during the event. “Let me congratulate Aboitiz Data Innovation on spearheading the first Artificial Intelligence Summit. We laud your efforts in forging our path to national advancement through technological research and innovation as you forge strong partnerships in the field of technology,” shared Vice President of the Philippines Sara Z. Duterte in an official statement. “This active pursuit to explore artificial intelligence and find ways to use it positively for progress facilitates a culture of futures-thinking and preparedness in society,” she added. On the second day of the summit, Department of Information and Communications Technology Secretary Ivan John Uy presented an overview of the DSAI landscape in the Philippines and future prospects of these technologies within the country. Uy said, “Digital transformation is about constantly adapting and optimizing new solutions to the ever-changing needs of society, and it starts with deeper and more meaningful partnerships between the government and the private sector. And we all share a common goal of transforming the country and accelerating its progress through the use of all these emerging technologies.” Dr. David R. Hardoon, Chief Executive Officer of ADI, expressed his gratitude for the overwhelming response to the first-ever AI Summit in the country and the active participation of industry and government leaders and diverse professionals. “We are thrilled with the success of the AI Summit, which surpassed our expectations in terms of attendance and engagement. This event truly showcases the potential of AI to revolutionize industries and drive sustainable development in the Philippines. We are proud to have provided a platform for meaningful discussions and collaborations that will shape the future of AI in the Philippines,” stated Hardoon. ADI plans to build on the success of the AI Summit PH 2023 and continue driving AI innovation to transform businesses and government and advance communities in the Philippines and beyond. They remain committed to advancing AI technologies, fostering industry partnerships and empowering businesses to harness the transformative power of AI for sustainable growth and development. ### The post Inaugural AI summit sets stage for Phl future redefined by AI appeared first on Daily Tribune......»»
Daily Tribune’s Asian Innovation Forum: Building ecosystems for growth
Graced by almost 200 business owners in micro, small and medium enterprises, the first leg of the Daily Tribune’s Asian Innovation Forum was a huge success, fulfilling its noble aim to equip MSMEs toward fully embracing digitalization to survive in the ever-changing entrepreneurial environment brought by various economic headwinds and health emergencies. [caption id="attachment_132445" align="aligncenter" width="2560"] Audience members made up of MSMEs interacted with the speakers and panelists regarding their business challenges and concerns.[/caption] The AIF maiden offering was held on Tuesday, 9 May, at the Laguna Room of Bellevue Manila in Alabang, from 8 a.m. to 11 a.m. Anticipation filled the air as the event’s esteemed speakers included Angkas founder and chief executive officer George Royeca; Frederick Imson, representing Philippine Charity Sweepstakes Office general manager Mel Robles; UnionBank’s chief data and AI officer Dr. David Hardoon; and Intellectual Property Office of the Philippines director general Atty. Rowel Barba. [caption id="attachment_132444" align="aligncenter" width="2560"] Angkas CEO George Royeca talked about the role of logistics in managing the supply chain and upscaling operations.[/caption] [caption id="attachment_132449" align="aligncenter" width="2560"] PCSO’s Frederick Imson gave his insights and advice to lottery winners.[/caption] [caption id="attachment_132441" align="aligncenter" width="2560"] Union Bank’s Dr. David Hardoon talked about how AI can and has revolutionized the financial services industry. ‘It’s not artificial intelligence,’ he emphasized, ‘it’s augmented intelligence because humans have intelligence to begin with.’[/caption] [caption id="attachment_132439" align="aligncenter" width="2560"] IPOPHL’s Atty. Rowel Barba stressed the importance of protecting one’s brand, and how business owners should boost competitiveness with intellectual property.[/caption] AIF panelists included Rowena San Jose, chief trade and industry development specialist at the DTI-NCR; Kim Lato, founder and CEO of Kimstore; and Ida Tiongson, president and CEO of Opal Portfolio Investments, Inc. [caption id="attachment_132451" align="aligncenter" width="2560"] Panelists (from left) Ida Tiongson, president and CEO of Opal Portfolio Investments Inc.; Rowena San Jose, chief trade and industry development specialist at the DTI-NCR; and Kim Lato, founder and CEO of Kimstore gave important tips on financial technology tools, government support and maximizing online platforms.[/caption] A special speaker, Catherine Mary Biazon, head of Muntinlupa City’s Gender and Development, engaged the audience in a talk about how local government can create opportunities and provide resources to help micro entrepreneurs get a solid and sustainable start in business. [caption id="attachment_132453" align="aligncenter" width="2560"] Ms. Catherine Mary Biazon, head of Muntinlupa City’s Gender and Development, talks about projects undertaken by the city to help empower women entrepreneurs.[/caption] The Daily Tribune’s Asian Innovation Forum is a convergence of stakeholders to help improve small businesses, introduce new ideas, open dialogues, and foster cooperation — ultimately to ensure greater access and inclusion in the financial technology sector, and for Filipino entrepreneurs to gain a foothold in a wider market. [caption id="attachment_132440" align="aligncenter" width="2560"] Daily Tribune President Willie Fernandez is flanked by DT executive vice president Chingbee Fernandez (left) and Dinah Ventura, DT managing and lifestyle editor.[/caption] [caption id="attachment_132437" align="aligncenter" width="2560"] Gising Na! hosts Chingkee Mangcucang and Kim Sancha hosted the event together with Komfie Manalo (not in photo).[/caption] The post Daily Tribune’s Asian Innovation Forum: Building ecosystems for growth appeared first on Daily Tribune......»»
E-wallets cause deep disruptions
Digital or e-wallets and peer-to-peer lending are changing how people conduct business, from buying to selling. Data from WNS DecisionPoint estimated that global mobile payments reached $1 trillion in 2020, highlighting the growing influence of FinTech. The mass adoption of e-wallets during and post-pandemic allowed financial institutions to tap into the data gained from these digital wallets. More importantly, financial service providers are given the leverage to make smarter lending decisions in lieu of the absence of financial documents from traditional sources. “E-wallets are a good source of users’ transaction data that can facilitate financial service providers to underwrite loan applications and collection process better,” Henry Aguda, president and CEO of UnionDigital Bank, said during the signing of a partnership with Tala Financing Philippines for the launch of the Tala e-wallet. Answer to inclusion quiz E-wallets allow the unbanked and underserved to create digital footprints that banks, both digital and legacy, could use to establish their credit scoring and include in their database. “The digital footprint will give the unbanked and underserved access to financial instruments, investments, lending facilities, insurance and other services,” Aguda said. According to Aguda, the partnership provides a perfect synergy between UnionDigital and Tala because they are “mission-aligned business-wise and in the execution” of both their plans. Both companies are committed to empowering individuals with access to seamless, secure, and reliable financial services, in addition to enabling customers to achieve their financial goals and build a better future for themselves and their families. Mike Singh, chief commercial and revenue officer at UnionDigital, added the union is also an example of a “perfect marriage” with both parties benefiting from the partnership. “Tala’s maximum loan approval is P100,000. But what if their customer needs to upscale their operations and requires a bigger loan amount? That is where UnionDigital will come in. We can extend a higher loan amount. And the same goes for some credit applicants from our end that we cannot process, and we can send them to Tala,” Singh said, describing the mutual benefits of the collaboration. The post E-wallets cause deep disruptions appeared first on Daily Tribune......»»
Robinsons Bank ventures into insurance brokerage
Gokongwei-led Robinsons Bank Corp. is expanding its footprint in the insurance business by acquiring a 40-percent stake in Unicon Insurance Brokerage Corp. to address the changing needs of its clients......»»
PNVF forms coaching sataff for world meet
Seasoned coach Dante Alinsunurin will make a comeback as one of the deputies for the national men’s team as host Philippines pulls out all the stops to parade a competitive squad against the best of the best in the FIVB Volleyball Men’s World Championships 2025......»»
Iraqis display full might vs Philippines XI
Iraq rained goals on host Philippines in a 5-0 shutout that pushed the Filipinos to the brink in the FIFA World Cup Qualifiers Tuesday at the packed Rizal Memorial Stadium......»»
ANZ raises Philippine inflation forecast to 3.8% this year
ANZ Research hiked its inflation forecast for the Philippines to 3.8 percent this year, from 3.5 percent previously, as risks may drive inflation up to above the central bank’s two to four percent target in the coming months......»»
Unlock business success at Franchise Asia Philippines Expo
The Franchise Asia Philippines Expo 2024 is set to hold a series of dynamic seminars designed to empower entrepreneurs, investors and business enthusiasts with the knowledge and tools needed to thrive in the ever-evolving world of franchising. Slated from April 12 to 14 at the SMX Convention Center Manila, these seminars offer invaluable insights into key aspects of franchising and business growth......»»
Infrastructure projects get better loan terms from Japan
The Philippines has secured better financing terms for two big-ticket infrastructure projects funded by the Japanese government aimed at improving public transport and road connectivity......»»
Alinsunurin appointed Philippine men’s volleyball assistant coach
Seasoned mentor Dante Alinsunurin will make a comeback as one of the deputies for the national men’s team as the host Philippines pulls out all the stops to parade a competitive squad against the best of the best in the FIVB Volleyball Men’s World Championships 2025......»»