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BSP issues guidelines for payment systems
The Bangko Sentral ng Pilipinas (BSP) has released its first Manual of Regulations for Payment Systems (MORPS), a formal compilation of all payment system regulations approved by the Monetary Board as of end-December 2023......»»
EEI ‘hold’ tipped with robust infra
Listed infrastructure multinational EEI Corpo. posted a net loss of -P701.12 million in the second quarter, primarily due to losses from its equity in associates and joint ventures, primarily its unit Al Rushaid Construction Co. Ltd., or ARCC. Consolidated revenues rose by 25 percent from a year ago to P7.85 billion, but its gross profit shrank by 21 percent year-on-year to P515 million due to delays in materials, effects of bad weather, and license approvals. Brokerage house and research firm Regina Capital Development Corp., or RCDC, said the growth in EEI’s topline was mainly driven by improving construction contracts. “The company’s unworked portion of existing contracts is at P47.4 billion but expects a robust inflow of projects. The Build, Better, More Infrastructure Program is expected to boost construction services demand,” RCDC said. It added that the construction sector experienced growth in gross fixed capital formation in 2021 and 2022, an indication of potential recovery despite the economic challenges. However, the sector’s growth in the second quarter was below average, which RCDC said revealed economic risks. The price index, which has been on a downtrend since October 2022, could be a potential growth source. BBM’s main growth driver The BBM program, which will continue to stimulate domestic construction demand, will also benefit the sector. “Given the challenges posed by the slowed growth in gross capital formation for construction, as well as the impact of losses from equity in associates and joint ventures on EEI’s earnings, we are reducing our target to P5.30 per share, down from P7.50. This adjustment reflects the cautious outlook for the construction sector and the need for EEI to address its associated losses while also acknowledging potential future opportunities such as the government’s BBM infrastructure program. Hence, we are placing a “hold” recommendation on EEI. RCDC cited the updates on the company that merited its recommendation. EEI has continued with its reorganization. In a report to the stock market back in September 2023, its board approved the divestment of the company’s 60 percent interest in its subsidiary, BiotechJP Corp., a company engaged in the manufacture of food and therapeutic food products, as it focuses on its core business which is construction. Real estate brand Filigree tapped EEI Corp. for the general construction works of its newest project, Two Botanika, in Alabang, Muntinlupa. EEI’s unit, EEI Power Corp. is set to develop an electronic vehicle charging system through a new corporation after partnering with a cloud solution and service provider. EEI Power said it would have a 40 percent stake in the new corporation that it would establish together with SysNet Integrators Inc. The post EEI ‘hold’ tipped with robust infra appeared first on Daily Tribune......»»
Passenger influx at Davao terminal seen
DAVAO CITY — The Davao City Overland Transport Terminal is now gearing up for the expected influx of passengers come the observance of All Saints’ Day and All Souls’ Day in the country. DCOTT manager Aisa Usop said the terminal is expecting about 1,000 to 1,500 bus trips in the next two weeks to cater to an estimated 50,000 to 75,000 passengers, adding that the numbers are far from the usual average of 700 to 800 bus trips a day delivering around 35,000 passengers. Usop said an even greater influx of passengers is expected this Undas compared to last year as more national routes heading for Visayas and Luzon have been added to the DCOTT’s operations this year. As of September, the DCOTT recorded revenues of up to P39 million, significantly higher than the P34 million recorded last year for the same period. With the current trend of activity in DCOTT, it is expected that revenues for this year will surpass the P44-million target. “In terms of security, additional security personnel from the Armed Forces of the Philippines and the Philippine National Police will be deployed to keep operations in the terminal orderly and ensure the safety of passengers,” Usop said. A series of coordinating meetings was also held with the security sector, the Land Transportation Franchising and Regulatory Board, Land Transportation Office and the City Transport and Traffic Management Office to provide further security and safety augmentation. The post Passenger influx at Davao terminal seen appeared first on Daily Tribune......»»
Gov’t to roll out fuel subsidies to 1.6-M PUV, trike drivers
The government is set to release P2.95 billion in fuel subsidies for public utility vehicle (PUV) operators and drivers to cushion the impact of the increase in fuel prices. A total of 1,640,000 million PUV drivers will receive fuel assistance, including tricycle drivers and delivery riders. Transportation Secretary Jaime Bautista said the Department of Transportation (DOTr), through the Land Transportation Franchising and Regulatory Board (LTFRB), will hasten the distribution of cash assistance. “We will make sure that the assistance to our PUV drivers will be distributed immediately so they can use it, pay for their fuel, and improve their daily income,” Secretary Bautista said. Data from the LTFRB shows 280,000 PUV drivers will receive the one-time cash grant from the agency, while 930,000 tricycle drivers and 150,000 delivery service riders will receive assistance from the Department of Interior and Local Government (DILG) and Department of Information and Communications Technology (DICT), respectively. The transport regulator will distribute P10,000 to Modern Public Utility Jeepney (MPUJ) and Modern UV Express (MUVE) drivers, while drivers of other modes of transport will receive P6,500. Tricycle and delivery riders, on the other hand, are set to receive P1,000 and P1,200 assistance, respectively. The Department of Energy (DOE) must also certify that the average price for crude oil has exceeded $80 in the last three months. The post Gov’t to roll out fuel subsidies to 1.6-M PUV, trike drivers appeared first on Daily Tribune......»»
The boat is… (error 404)
The boat is sinking… the boat is sinking… group yourselves into… two?.. three?.. or maybe four? Who is responsible for saving everybody? Oh no my dear readers, not me talking about the literal sinking of boats all happening recently, I’m talking about the game — “Boat is sinking.” You know, the simple icebreaker game where in the end we determine who is the least affected because they were saved after clinging to each other in a certain number declared by the game master. However, since this topic crossed our minds, let us refresh our memories about the horrible sea mishaps in the country and yes we are talking about boats, huge boats in case you are interested to know. Well, I know you do because it is Thirstday! We are always thirsty for facts and information, you silly. The most recent of course is the tragedy in Binangonan Rizal last week where 27 people lost their lives. One cannot help but ask, “Where are their life vests?” “Why are they overloaded?” “Who gave them the clearance to sail despite the bad weather?” “Whose responsibility is it? The captain or the Philippine Coast Guard?” I have the same questions myself. Let us not forget that three years ago, there was the Ilo-Ilo-Guimaras Strait Tragedy wherein 28 people died. Former President Rodrigo Duterte personally visited their wakes. Four Philippine Coast Guard personnel and two Marina officers were removed from their posts after the incident. I was personally there to cover the painful event with their relatives crying non-stop, as I witness it firsthand when I was still a news reporter. After that tragic event, a couple of recommendations floated in the water, including those from then-Transportation Secretary Art Tugade who said local boats should be modernized. Suggestions from relatives of the late victims stated that the designs of the local boats should be improved using aluminum materials and not wood. If we zoom out a bit, another terrifying sea tragedy in the Philippines is the tragic demise of 437 people aboard MV Princess of the Stars in 2008 after sailing despite Typhoon Frank. Out of the 800 plus passengers recorded, only 32 survived while the rest remain missing until now. Again, “Who is responsible?” is the same old question everyone is asking. In December 1987, the passenger vessel MV Doña Paz collided with an oil tanker MT Vector causing a deadly water inferno and one of Asia’s bloodiest sea accidents ever. Out of more than 4,000 passengers, only 24 survived. A simpleton may ask, out of the vastness of the sea, collision is still possible? The board of inquiry back then figured out several violations which are preventable in nature. Doña Paz had been refurbished to add two more decks to allow more passengers when its certificate of stability was only based on two and not four decks when it went down. It was not sea-worthy during the collision, but then again why was it allowed to sail in the first place? And MT Vector? Well, its crew are underqualified and some equipment and instruments are malfunctioning. Just like you, I have so many questions as well. Many maritime companies are still operating old inter-island ships and vessels whose seaworthiness may be questionable and oftentimes these boats are overloaded while passengers have no choice but to ride and pray for their safety. According to government records particularly Marina, the country has an average of 200 sea accidents every year. Mainly because of overloading, dysfunctional ships, bad weather and ship crew error. This is despite the countless directives of every administration and official to implement measures to avoid such accidents. Unfortunately, every year there is always a painful tragedy followed by finger-pointing on who should be blamed — government maritime agencies? Or the shipping industry? With more than 7,000 beautiful islands, ferry and boat travel are the most economical mode for many locals. We cannot stop people from riding even the most dangerous vessel for them. If we cannot yet build bridges to connect our islands due to lack of funds or due to the technological limits of the time, then let us start improving and modernizing the shipping and maritime industry. Why not infuse capital into our own shipbuilding production? Why not invest in our maritime schools to train more skilled crew members? Why not improve our system of checking whether it is good to sail or not? Why don’t we do the basic things we can to save lives? These measures will not only save lives but will contribute to the economy. When shall we wake up from this nightmare of neglect of the safety of life at sea? Do we need another horrific sea accident before we get our acts together? Are we not yet alarmed by the biggest sea mishaps that happened over time? Or do we not value lives as much as we value businesses? Well, your guess is as good as mine. We need to rally our efforts and stand together. All hands on deck! …because we are on the same boat, not the sinking one. The post The boat is… (error 404) appeared first on Daily Tribune......»»
Private sector analysts predict inflation rate to dip below 5 percent
Private economists expect the country's inflation rate to ease further for the sixth consecutive month in July from the 5.4 percent inflation rate last June. A Daily Tribune poll of six (6) private sector analysts yielded a median estimate of 4.8 percent for July inflation. The Philippine Statistics Authority (PSA) is expected to unveil inflation data in the first week of August. Economists expect inflation to dip below five percent, marking the first time since April 2022, when the average headline inflation was 4.9 percent. Security Bank chief economist Robert Dan Roces and China Banking Corp. chief economist Domini Velasquez said inflation likely softened to 4.7. In an emailed commentary, Roces elaborated that the deceleration in the consumer price index (CPI) suggests a moderate level of inflation. "The favorable base effects that helped offset the increase in food prices may continue to play a role in keeping inflation in check in the short term," Roces said. For her part, Velasquez said lower utility rates offset higher food and fuel prices. She mentioned that electricity rates in all regions fell substantially from the previous month, especially in Mindanao and Batangas. Velasquez added that a stronger peso in July could have also led to the "muted" monthly inflation rate. ING Bank lead economist Nicolas Mapa, who said that headline inflation averaged 4.8 percent in July, mentioned that Bangko Sentral ng Pilipinas (BSP) would consider the data point alongside the path of inflation against developments such as the recent US Federal Reserve's hike in its subsequent decision. Philippine National Bank economist Alvin Arogo said inflation would likely to 4.9 percent in July amid the month-on-month increase due to the minimum wage hike in Metro Manila and the rise in pump prices due to Dubai crude. Arogo said the favorable base effects will continue to be the main driver for the monthly print of year-on-year price growth to be lower than four percent in the fourth quarter amid the "persistence of second-round effects." Bank of the Philippine Islands (BPI) lead economist June Neri, who said that inflation in July likely eased to 4.9 percent in July, mentioned it would fall within the two to four percent target range of the BSP by the fourth quarter. "Such a print suggests that a sub-four percent monthly print by October or November is possible and increases the chances that the BSP can keep policy rates steady for the balance of 2023," Neri said. Meanwhile, Rizal Commercial Banking Corp. chief economist Michael Ricafort said that the inflation rate for July likely slowed at 5.1 percent as the recent increase in local rice prices would also slow down the easing trend of "disinflation" at the very least. He said that the possible reduction of rice imports by the Philippines would also coincide with the adverse effects of the El Niño drought, especially from the fourth quarter of 2023 to the first quarter of 2024, potentially reducing local rice production. Ricafort added that the weather phenomenon would also lead to some uptick in local rice prices and overall inflation. However, the country's new central bank said it is still too early to declare victory in the battle to curb consumer price pressures as upside pressures on expenses remain high amid downtrend data, the country's new Speaking at a recent banking community event, BSP governor Eli Remolona said the persisting upside risks to inflation indicate the monetary authority remains open to further tightening. The country's core inflation, which primarily excludes food and fuel expenses, hit 7.4 percent in June. Last month's data declined from May's 7.7 percent to April's 7.9 percent. "Nonetheless, it's too soon to declare victory. Core inflation remains high. There are still upside risks to inflation – for example, risks in the form of El Niño and further supply shocks," Remolona said. Remolona stated that the inflation figures will factor into the analysis conducted by the Monetary Board. He added that data will play a crucial role in influencing their policy rate decision. "We will wait and see. We will analyze the data as they arrive, and that analysis will decide monetary policy down the road," the Central Bank chief mentioned. On the sidelines of the same banking event, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said he expects inflation to continue easing in the coming months but warned that there are still risks to the outlook. Balisacan said that the current downward trend in inflation is expected to continue, but some factors could worsen it. These include rising oil prices and the impact of Typhoons Egay and Falcon on agricultural production. "We are still monitoring the situation, but we hope that the impact of the typhoon will not be too serious," Balisacan said. The post Private sector analysts predict inflation rate to dip below 5 percent appeared first on Daily Tribune......»»
T-bonds auction oversubscribed,hits P55B
The Bureau of the Treasury on Wednesday partially awarded bids for the new seven-year Treasury bonds or T-bonds. The coupon rate was set at 6.375 percent. The auction was 1.8 times oversubscribed as the total submitted bids amounted to P55.1 billion. The BTr raised P24.8 billion out of the P30-billion offering. In a comment, Rizal Commercial Banking Corp. chief economist Michael Ricafort said the average auction yield was higher than the comparable 7-year PHP Bloomberg Valuation Service or BVAL yield at 6.28 percent. Rate traced “This is still higher compared to 6.097 percent in the previous 7-year Treasury bond auction on 20 June 2023 as the PHP BVAL yields corrected higher since June 2023 due to higher US Treasury yields since then,” he said. Ricafort traced the rate results to the hawkish signals locally in terms of possible local policy rate hikes to better manage inflation. Headline inflation settled at 5.4 percent in June, still above the government’s 2 percent to 4 percent target. “(This) is also after hawkish local signals recently, particularly on no possible premature local policy rate cut and even a possible local policy rate hike amid market expectations of a possible +0.25 Fed rate hike on July 26, 2023, but reduced odds of a second Fed rate hike after July 26, 2023,” Ricafort said. The Bangko Sentral ng Pilipinas maintained key rates in the last two consecutive rate-setting meetings. The Monetary Board is scheduled to hold its next rate setting meeting on 17 Aug. The post T-bonds auction oversubscribed,hits P55B appeared first on Daily Tribune......»»
Phl cinema in the first year of BBM
Here, we look back at the state of the Philippine film industry since he took the seat of power 13 months ago. When President Marcos Jr. became the 17th leader of the nation, the country was on the brink of the “new normal.” The campaign elections even saw multitudes of crowds in the streets, the Filipinos’ political passion overpowering the fear of a Covid-19 infection. Covid-pandemic viewing By May 2022, the month of the presidential campaigns, the Department of Health said the country was at “minimal-risk case classification” with an average of only 159 cases per day. By June 2022, when the President took his oath, 69.4 million Filipinos had been fully vaccinated. Along with the country, the Philippine film industry started healing. On the same month, the country went under Covid-19 Alert Level 2, with 50-percent allowed capacity in indoor cinemas. Live film festivals The Marcos administration saw the return of Filipino film festivals in theaters. On Marcos’ fifth month as president, the QCinema International Film Festival, with the theme “in10City,” held hybdrid screenings — in-person and online. The Metro Manila Film Festival in December 2022, six months into the new presidency, went full force in cinemas for the second time during the pandemic. Earlier, in 2020, during the Duterte administration, the festival was held online for the first time, and the following year, in December 2021, after level alert measures in the Philippines were relaxed, the MMFF finally went back to the cinemas. However, only around 300 cinemas (down from the usual 900) were allowed to screen the MMFF entries. Meanwhile, the 18th edition of the Cinemalaya Philippine Independent Film Festival was held from 5 August to 31 October 2022 at the Cultural Center of the Philippines, in select mall cinemas and online. But what made a mark during the Marcos administration’s first year was the inaugural edition of the 2023 Summer Metro Manila Film Festival. The SMMFF was held in Metro Manila and throughout the Philippines. Organized by the Metropolitan Manila Development Authority in partnership with the Cinema Exhibitors Association of the Philippines, the first MMFF was supposed to be held in 2020, but was canceled due to the Covid-19 pandemic. In 2023, held from 8 to 18 April 2023 with the theme “Tuloy-tuloy ang Saya,” the summer festival featured eight entries and, like its December counterpart, even held a Parade of Stars. About Us But Not About Us by Jun Lana, produced by The IdeaFirst Company, Octobertrain Films and Quantum Films, emerged as the first Best Picture of the summer festival. [caption id="attachment_161372" align="aligncenter" width="1200"] About Us But Not About Us by Jun Lana[/caption] The Film Development Council of the Philippines’ sixth edition of its own mini-film festival, held during the Marcos administration’s third month, headed back to cinemas, offering free access to award-winning classic films of the new National Artists for Film and Broadcast Arts at TriNoma Cinema in Quezon City and in all Cinematheque centers nationwide (Manila, Iloilo, Negros, Davao and Nabunturan). CCP closes for renovations On 1 September 2022, CCP president Margarita Moran-Floirendo announced during a hearing of the Senate committee on cultural communities, that The Cultural Center of the Philippines — home to the Cinemalaya festival — will close its doors starting January 2023 for renovation and structural retrofitting works, and will reopen in March 2025. This marks the first time that Cinemalaya, on its 19th year, which has the theme “ilumiNasyon,” will be held at various venues inside the adjacent Philippine International Convention Center, from 4 to 13 August 2023. The rise of political films With the country deeply driven by polarized political views, the Marcos administration saw a war between political commercial films. [caption id="attachment_161370" align="aligncenter" width="1800"] ‘MAID in Malacanang’ stars Cristine Reyes, Diego Loyzaga and Ella Cruz. | Photograph courtesy of viva[/caption] On 29 July 2022, Darryl Yap’s period drama Maid in Malacañang, touted as “the most controversial film of the year,” was released to packed cinemas. The movie, about the Marcos family’s last three days in Malacañang Palace before they were forced into exile, premiered at SM North EDSA and was released nationwide on 3 August 2022. Yap, who passionately campaigned for Marcos, became a controversial filmmaker with the release of his Marcos film. Leni Robredo supporters tried to boycott the film, with some Filipino movie critics exposing themselves as heavily political and non-neutral with their reviews, accusing the film of propaganda and historical revisionism. The attempt to quash the movie’s release failed and it became a box-office hit, with producer Viva Films releasing a statement that it earned a whopping P21 million on its opening day and P63 million three days after its release. It was the first time in Philippine cinema history that local theaters nationwide saw a deluge of moviegoers lining up to watch a movie on the big screen, mostly driven by political affiliation. Another unsuccessful political attempt to diminish the film’s release was Vince Tañada’s re-release of his Martial Law film Katips to counter Maid in Malacañang. Tañada’s film eventually won Best Picture at the Famas Awards. MIM actress Ella Cruz’s remark during a press conference, that “history is like tsismis,” further fanned the flames of political debate online. Eight months later, in March 2022, Viva released Yap’s second installment in his Marcos trilogy, Martyr or Murderer, which now focused on Ferdinand Marcos and the assassination of Ninoy Aquino. Two anti-Marcos movies rose to combat the film — Joel Lamangan’s Oras de Peligro, released on the same day, and Tañada’s movie adaptation of his musical play Ako Si Ninoy, released one week earlier. Movie buffs, political analysts, film critics, the press and social media influencers dove into feverish commentaries on the three films, and Philippine cinemas were ignited and, for a while, became alive with social discourse. New FDCP head On 21 July 2022, Tirso S. Cruz III officially assumed his position as the head of the country’s national film agency, the Film Development Council of the Philippines. He replaced Liza Diño, who was appointed by President Rodrigo Duterte as FDCP chairperson on 12 August 2016. [caption id="attachment_161368" align="aligncenter" width="736"] FDCP chair Tirso Cruz III. | PHOTOGRAPH COURTESY OF FDCP[/caption] Cruz, a veteran actor, said that the target of the FDCP under the Marcos administration was to support local films, not just in Metro Manila, but also from regional filmmakers. He also professed support for film students and highlighted archiving as part of the FDCP’s agenda, with 42,000 materials in its archives to be salvaged. MTRCB In September 2022, the Movie and Television Review and Classification Board released a statement addressing the controversy about its proposal to expand its jurisdiction to online streaming services like Netflix, Vivamax, Amazon Prime and other streaming platforms. The MTRCB said it was responding to multitudes of complaints from parents and other concerned groups demanding that the agency regulate movie and TV online platforms to protect children from harmful viewing. The Marcos administration has seen a continuous boom in streamers, which began during the pandemic, with Vivamax becoming one of the leading local streamers due to the popularity of Filipino sexploitation films. On 23 February 2023, MTRCB chairperson Lala Sotto-Antonio expressed her gratitude to Senators Francis “Tol” Tolentino, Grace Poe and Sherwin Gatchalian for the separate bills they filed that would amend and expand the board’s mandate. “We welcome the move to amend the charter of the MTRCB as it will allow the agency to adequately adapt to changes in technology and the ever-evolving needs of the viewing public and our other stakeholders,” Sotto-Antonio said before the Senate Committee on Public Information and Mass Media chaired by Senator Robinhood C. Padilla. Eddie Garcia Act In January 2023, the chamber passed through voice voting House Bill 1270, or the proposed Eddie Garcia Act, at the House plenary session. [caption id="attachment_161367" align="aligncenter" width="1000"] HOUSE Bill 1270 has been proposed in honor of the late actor Eddie Garcia. | Photograph courtesy of gma-7[/caption] Camarines Sur Rep. Luis Raymund Villafuerte authored the bill, which aims to provide workers in the movie, television and radio entertainment industry opportunities for well-paid employment and protect them from economic exploitation, abuse and harassment, as well as hazardous working conditions. The bill was named after the late veteran actor Eddie Garcia, who died in 2019 after suffering a neck injury while shooting the television series Rosang Agimat, produced by GMA Network. According to Villafuerte, productions would go from 16 to 24 continuous work hours per set and would rush productions to save costs. The proposed law mandates that normal work hours of the worker or talent shall be eight hours a day; overtime work should not exceed more than 12 hours in a 24-hour period; and the total number of work hours shall not exceed 60 hours in a week. Paul Soriano Relatively unknown to most Pinoy moviegoers, filmmaker Paul Soriano was put on the limelight as the man behind the President’s advertisements — way back from campaigns since Marcos started out as vice governor, and then, governor of Ilocos Norte, up until his senatorial campaign, and eventually his campaign for the vice presidency and presidency. [caption id="attachment_161371" align="aligncenter" width="781"] PRESIDENTIAL Adviser on Creative Communications Paul Soriano. | PHOTOGRAPH COURTESY OF ig/PAUL SORIANO[/caption] Of course, the opposition in the film industry predictably canceled Soriano, the blood nephew of First Lady Liza Cacho Araneta-Marcos. Dolly de Leon It was also during the BBM era that Filipina actress Dolly de Leon gained international fame for her performance in the 2022 Cannes Palme d’Or winner Triangle of Sadness. [caption id="attachment_161366" align="aligncenter" width="705"] Dolly de Leon gained international fame for her performance in the 2022 Cannes Palme d’Or winner ‘Triangle of Sadness.’ | Photograph courtesy ofig/dolly de leon[/caption] The 54-year old film, television and theater actress made history by becoming the first Filipino actor to be nominated at the British Academy Film Awards and Golden Globe Awards. Filipino movie fans and critics, having been exposed to global content since the rise of the streamers, plus the proliferation of self-published movie reviews, are generally still disappointed with the output and system of the Philippine film industry, but filled with hope that, with full support from the government, Philippine cinema will finally become truly internationally competitive, sustainable and recognized. The post Phl cinema in the first year of BBM appeared first on Daily Tribune......»»
MRC Allied board approves 10-for-1 reverse stock split
Adjusting the par value of the company’s capital stock doesn’t do anything to the finances of the company, it just adjusts the number of shares that own the company’s income and assets on a proportional basis......»»
MPIC tender offer grows amid delisting
Infrastructure-based conglomerate Metro Pacific Investments Corp. reported the tender offer for its publicly-held shares increased by over 12 percent amid an ongoing plan for its delisting from the Philippine Stock Exchange. In a stock report on Tuesday, MPIC said a consortium of its major shareholders signified interest to acquire 36.6 percent common shares held by minority shareholders at P5.20 apiece on an all-cash basis. The consortium is composed of Metro Pacific Holdings Inc., GT Capital Holdings Inc., Mit-Pacific Infrastructure Holdings Inc., and MIG Holdings Incorporated. MPIC said it received the tender offer notice on Monday, 3 July — reflecting a 12.31 percent increase from the initial price of P4.62 per share in the initial notice released last April. Likewise, the updated price also showed a 37 percent premium over the one-year volume weighted average price of common shares and is P0.10 higher than the top-end of the P3.37 to P5.10 price range provided by independent financial advisor Unicapital Inc. Trading suspended Notably, trading of MPIC shares has been voluntarily suspended to give participants time to digest such development. According to MPIC, the tender offer and voluntary delisting “will allow existing shareholders to sell their common shares and realize their investment, in cash, at a premium to the current trading price of the common shares.” Once the voluntary delisting from the PSE is approved by shareholders, the offer will be launched by the bidders immediately after the special stockholders’ meeting scheduled on 8 August. Based on bourse rules, the voluntary delisting should secure the approval of at least two-thirds of the company’s board of directors and stockholders owning at least two-thirds of the total outstanding shares. Meanwhile, those voting against the proposal should not exceed 10 percent of the total outstanding shares. Among others, MPIC has major stakes in Manila Electric Co., Metro Pacific Tollways Corp., Maynilad Water Services Inc. and Metro Pacific Health Corp. The post MPIC tender offer grows amid delisting appeared first on Daily Tribune......»»
Budget airline but with better services
Passengers of AirAsia Philippines can expect better services from low-cost air carrier sets to add more routes, increase the frequency and utilize wide-body aircraft following its recent transfer to a bigger terminal. AirAsia Philippines started welcoming passengers at the Ninoy Aquino International Airport Terminal 2 last week. It will operate all its domestic flights to and from the Centennial terminal — offering guests bigger space, better amenities, and a more comfortable travel experience. “We keep saying that this is a winning move for our guests because they deserve only the best from us. Moving to Terminal 2 will allow us to add more routes, increase the frequency and utilize wide-body aircraft soon to improve connectivity and enhance customer experience,” AirAsia Philippines CEO Ricky Isla said. Isla also pointed out that AirAsia Philippines’ On-Time Performance, or OTP the past months reached an average of around 80 to 85 percent. 100% on some days “We even reach a high of 100 percent on some days when there are no factors causing disruptions such as weather or lightning red alerts, air traffic congestion, and non-scheduled maintenance,” he added. For Civil Aeronautics Board executive director Carmelo Arcilla, “industry stakeholders and government to continue to engage to ensure that passengers ultimately win.” “We shall work closely with the industry towards full and strict adherence to the Air Passenger Bill of Rights as we endeavor to go above and beyond in the service of the Filipino people,” Arcilla said. AirAsia Philippines has been allocated 20 check-in counters for guests entering the south wing of the terminal. At Terminal 2, AirAsia Philippines passengers can utilize the seven operational aero bridges in the south wing and four remote parking bays during high traffic or peak hours. AirAsia operates more than 100 domestic flights daily and aims to increase routes and frequency during winter to provide guests with affordable flights. The post Budget airline but with better services appeared first on Daily Tribune......»»
Herbosa warns ‘nurseless’ Phl in 3-5 years
The continuous migration of licensed nurses abroad for higher compensation would leave the country to become “nurseless” by 2026 or 2028, Health Secretary Ted Herbosa warned on Tuesday. In a radio interview, Herbosa, who is pushing to tap the pool of nursing graduates who failed to pass the board exam, stressed that the problem needs an immediate solution. “That is why I am focusing on it as early as now because if we do not do anything, I can see that in a few more years, maybe three or five years, we will run out of nurses,” he said. “That is why I am finding a way to increase the number of nurses. I am happy that there are other government agencies that are helping me,” he added. To avert the impending lack of nurses in the country, the newly appointed Health chief is aiming to hire nursing graduates who scored 70 to 74 percent in the board exam to work for public hospitals. Herbosa said that those who will be hired will be given a temporary license from the Professional Regulation Commission and work in government hospitals under supervision. “They would not like – their work would be limited only. Only those that are simple and safe to avoid the endangerments of others,” he said. Likewise, the government would also provide scholarships for those who will be hired to pass the board exam after a certain period of time. Herbosa clarified that the government would require “return of service” from those who will pass the board exam, depending on the number of years they worked as temporary nurses. The Health Department previously said that there are a total of 4,500 vacant plantilla positions for nurses in 72 DoH-hospitals across the country. ‘Money not an issue’ Herbosa noted that low compensation is not the reason behind the declining numbers of nurses in the country. “Let me clarify it, the low compensation that nurses are complaining about is from the private sector. In our government sector, their salaries depend on their ranks, from anywhere from P35,000 a month for an entry-level to P75,000 a month for higher ranks,” he said. “So, money is not an issue. The problem is there are not enough nurses applying for the vacant position,” he added. He continued: “The low compensation [is] relative to the salary offered by other nations because they offer a higher salary.” He stressed that the issue is a “complex matter,” hence an in-depth study is needed to solve the problem. According to Filipino Nurses United, the average monthly salary for nurses in private hospitals is P12,000, significantly lower compared to compensation for nurses abroad. Meanwhile, the Private Hospital Association of the Philippines Inc. admitted that there is a huge discrepancy in terms of salary between public and private hospitals. PHAPi President Dr. Rene de Grano previously said that the salary of an entry-level nurse in private hospitals varies depending on the location of the hospitals. He said bigger hospitals in Metro Manila could afford to compensate an entry-level nurse as high as P1,000 per day, while smaller hospitals in the province could only pay their nurses P570 per day. The post Herbosa warns ‘nurseless’ Phl in 3-5 years appeared first on Daily Tribune......»»
Herbosa’s plan
To resolve the nursing shortage in the nation, the Department of Health has proposed to draw from the pool of unlicensed nursing graduates. Health Secretary Teodoro Herbosa said he has spoken with the Professional Regulation Commission about the plan to employ these nurses for the meantime while they are given three to five years to pass the board exams before they are hired on a full-time basis. Private hospital owners have reacted favorably to Herbosa’s idea while promising to fix the disparity in pay between the nurses they employ and government nurses. Ho-hum. More lip service from those in the private sector who sacrifice our nurses before the altar of profitability? Several issues, such as the strong demand for nurses abroad, the poor pay for nurses at home, and the dearth of possibilities for professional advancement, have contributed to the nursing shortage in the Philippines. Because Filipino nurses are highly skilled and deliver high-quality care at a cheaper cost than nurses from other countries, the Philippines is one of the world’s top suppliers of nurses. Similarly, a significant contributing factor to the nursing shortage in the Philippines is the poor pay for nurses. It’s one for Ripley’s Believe It Or Not, but nurses in the Philippines make an average of just P12,000 per month. Even without taking into account the fact that they frequently work 16-hour days with no overtime pay, that is starvation wages by any standard. It is considerably less than what nurses in other nations are paid. For instance, a nurse in the United States typically makes roughly $75,000 a year. With an annual income of P144,000, Filipino nurses working in the Philippines would find it difficult to feed themselves, even if they have no dependents. The salary of the same Filipino nurse employed in the US would be $75,000, or P4,201,012 using the conversion rate of P56 to $1 as of 9 June 2023. To alleviate the nursing shortage, Secretary Herbosa’s proposal to tap the pool of unlicensed nursing graduates is a positive move. If it pushes through, the DoH will be able to offer them the chance to further their knowledge and abilities by working while studying to pass the board. Eventually, this will lessen the exodus of healthcare workers and enhance the quality of patient treatment. Congress should support the DoH strategy by enacting legislation that will codify Herbosa’s proposal. This will strongly convey to the private sector the government’s commitment to enhancing nurses’ pay and working conditions. Additionally, it will encourage more people to pursue a nursing career. Nurses serve as the foundation of the healthcare system. They are essential in providing patients with care. They should be treated with respect and adequately compensated. During the pandemic, nurses and other medical professionals were our modern-day heroes. It is only fitting that they are allowed to live respectable lives by attending to their many challenges. Likewise, the government must make investments in nursing education and training if we want to keep producing more nursing graduates. This will make it possible to guarantee that there will always be sufficient numbers of skilled nurses to meet the needs of the population. The post Herbosa’s plan appeared first on Daily Tribune......»»
Labor group pushes for wage hike despite easing of inflation
Labor group Federation of Free Workers on Tuesday reiterated their calls for a P150 wage increase, even as the country’s inflation rate reduces to 6.1% for the month of May. “The average inflation rate from January to May stands at 7.5%, highlighting the ongoing burden faced by Filipino workers. The easing of inflation alone is not sufficient to address the persistent challenges arising from the rising cost of living,” FFW President Sonny Matula said in a statement. Matula said this in reaction to Tuesday’s report by the Philippine Statistics Authority that the country’s inflation rate reduced to 6.1% for last month, a 0.5% decrease from the 6.6% inflation for the month of April. Since January’s record inflation of 8.7%, PSA noted a steeper decrease in the country’s inflation rate, with May’s 6.1% inflation on par with the inflation rate in June last year. Matula said that despite a rebound in the economy, the government should still address the plight of workers in terms of the rising costs of living which, according to Ibon Foundation’s figures for the previous month’s 6.6% inflation rate, stands at P1,140 a day or P25,226 a month. For context, the current minimum wage in Metro Manila falls at P533 and P570 for agriculture and non-agriculture work, and between P306 to P428 and P341 to P470 for agriculture and non-agriculture work in the provinces. “The easing of inflation alone is not sufficient to address the persistent challenges arising from the rising cost of living,” Matula said. “It is imperative that workers regain their purchasing power and improve their lives. As the economy rebounds, it is crucial that the benefits are shared equitably among all sectors of society,” he added. Two bills on wage hikes are still pending in Congress, including House Bill Number 7871 filed by Trade Union Congress of the Philippines Representative Raymond Mendoza, and Senate Bill Number 2002 filed by Senator Juan Miguel Zubiri. Both bills propose a P150 across-the-board wage hike, but are both pending in the respective Houses’ labor and employment committees. The post Labor group pushes for wage hike despite easing of inflation appeared first on Daily Tribune......»»
PNR fields buses during train break
The Department of Transportation has directed the Philippine National Railways to provide an alternative means of transportation for commuters who will be affected when the trains stop operation on 2 July to make way for the construction of the P873.62-billion North-South Commuter Railway. PNR chairperson Michael Ted Macapagal said on orders of Transportation Secretary Jaime Bautista, he is coordinating closely with the Land Transportation Franchising and Regulatory Board to ensure timely implementation of the bus augmentation plan. Under that plan, LTFRB will approve the franchise of additional buses plying the roads on the affected train routes. It is estimated that 30,000 people ride the trains that pass through Malabon, Tutuban, Sta. Mesa, Makati, Alabang and Calamba. The number was much bigger — 70,000 — before the Covid-19 pandemic struck. According to Macapagal, the original proposal was to relocate the tracks so that the trains could continue operation even while construction is underway. Expensive tracks relocation The proposal was shelved because that would cost P4 billion and disrupt the progress of the civil works project. The DoTr chief wanted to adhere strictly to the five-year timetable, Macapagal said. Barely a year in office, Bautista has seen 12 contracts bid out and awarded. The contracts have an average cost of P20 billion each. Macapagal noted the speed with which DoTr implements the vision of President Ferdinand Marcos Jr. is unprecedented. “Observers on the economic front attribute it to the fact that Secretary Bautista is no politician,” Macapagal said. “He used to move in the corporate world. It is his nature to hurry things up, once convinced he is on the right path. It helps that he has the support of the business community.” NSCR will run for 147 kilometers, from Clark in Pampanga to Metro Manila and, finally, to Calamba City in Laguna. Once the project is completed, PNR will be able to ferry 800,000 passengers everyday safely and in comfort. Travel time on the entire length of the railway system will be cut in half, from four hours to two hours. ‘Observers on the economic front attribute it to the fact that Secretary Bautista is no politician,’ Macapagal said. “He used to move in the corporate world. A total of 51 local train sets and seven express train sets will be deployed. The local trains load and unload passengers in each of the 35 stations, while the express trains are faster since they make fewer stops. Two Japanese firms, Sumitomo Corporation and Japan Transport Engineering Company, will supply the trains. The Asian Development Bank and Japan International Cooperation Agency are financing the project. The post PNR fields buses during train break appeared first on Daily Tribune......»»
What we know about India’s worst rail tragedy in decades
India's deadliest train disaster in decades killed at least 275 people and injured hundreds more, a tragedy officials have said was linked to an electronic signal system. While a final report has not been released into Friday night's crash near Balasore in the eastern state of Odisha, local media quoting preliminary investigations have pointed to human error connected to the signaling system. Trains resumed operations on tracks past the crash site on Monday. Here is what we know so far: What happened? The Coromandal Express, a passenger train travelling from Kolkata to Chennai, was diverted onto a loop line on Friday evening and slammed into a stationary goods train loaded with tons of iron ore. The collision flipped the carriages of the Coromandal Express onto another track. The derailed compartments then struck the rear carriages of another fast train, the Howrah Superfast Express from India's tech hub Bengaluru, which was passing in the opposite direction. The two fast trains were carrying more than 2,000 passengers. Trains in India are usually packed at this time of year, with many people travelling during school holidays. What went wrong? Ashwini Vaishnaw, India's railway minister, has suggested the crash happened due to the "change that occurred during electronic interlocking". That refers to a complex signal system designed to stop trains colliding by arranging their movement on the tracks. "We have identified the cause of the accident and the people responsible for it," Vaishnaw said, but added it was "not appropriate" to give details before a final investigation report was completed. Local media have quoted a preliminary investigation report, with the Times of India saying a "human error in signaling may have caused the collision between three trains". India's Railway Board has recommended a high-level probe into the disaster by the federal investigating agency. How many died? The death toll has been revised several times since the crash. Officials had initially reported it stood at 288 but the Odisha state government has since revised the toll downwards to 275 after some bodies were mistakenly counted twice. Of the 1,175 injured, 382 were still being treated in hospitals, authorities said Sunday. However, many fear the death toll could still rise because medical centres are overwhelmed by the number of casualties. It is the worst crash since 1999, when 285 were killed when two passenger trains collided at Gaisal in West Bengal, an accident blamed on human error. India's worst crash was in 1981, when an overcrowded passenger train plunged into a river during a cyclone in Bihar state, killing about 800 people. India's safety record India has launched a $30 billion railway infrastructure modernization in a bid to boost the economy and connectivity, and Vaishnaw said last month tracks were being "upgraded very rapidly". In 2022, India built 5,200 kilometers (3,230 miles) of new tracks, and upgraded or replaced about another 7,500-8,000 kilometres, Vaishnaw said. But analysts say that while accidents have reduced over time, India's antiquated rail system still has a long way to go. An average of 20,000 people died each year between 2017 and 2021 in rail accidents -- collisions, derailments and other causes -- according to official records. A report by the Comptroller and Auditor General of India, the country's top audit authority, said derailment was the reason for 69 percent of the accidents. Defective tracks, poor maintenance and old signaling kit combined with human error were the main cause, it said. Indian Railways, the world's fourth-largest rail network, runs some 14,000 trains daily with 8,000 locomotives over a vast system of tracks some 64,000 kilometers (40,000 miles) long. The trains carry more than 21 million people each day. The post What we know about India’s worst rail tragedy in decades appeared first on Daily Tribune......»»
US stocks mixed as market weighs lower default risk
Wall Street stocks finished mixed following a choppy session Tuesday, as markets weighed the remaining risk of a US debt default following the White House deal with House Speaker Kevin McCarthy. After rallying Friday in anticipation of an agreement, markets were muted as far-right Republicans in the House came out against the compromise. "McCarthy still has some tricky math to get this through the House," said Art Hogan, an analyst at B. Riley Financial. The Dow Jones Industrial Average finished 0.2 percent lower at 33,042.78. The broad-based S&P 500 was flat at 4,205.52, while the tech-rich Nasdaq Composite Index gained 0.3 percent to 13,017.43. Although investors' baseline assumption has been that the United States would avoid a default, markets have been pressured in recent weeks by rising fears that an agreement would not come in time. "It won't take a lot to disrupt this debt deal, but optimism remains that Congress won't mess with putting the economy at risk of an unnecessary catastrophe," said Oanda's Edward Moya. Data from the Conference Board showed US consumer confidence dipped in May, dragged down by a decline in how people perceive the job market. The slight fall in consumer confidence will provide the Federal Reserve with a useful data point on how consumers view the economy as it mulls lifting interest rates again in order to control rising prices. Among individual equities, chip company Nvidia gained 3.0 percent, leaving its valuation just under $1 trillion after earlier topping the benchmark. The surge in Nvidia shares comes amid rising confidence in new generative AI breakthroughs, capable of delivering the computing heft needed to churn out complex content in just seconds from data centers around the world. The post US stocks mixed as market weighs lower default risk appeared first on Daily Tribune......»»
Digitize, digitize, digitize
Even before the Covid-19 pandemic struck, the banking industry already had digitalization on top-of-mind discussion in board meetings. But the pandemic presented new circumstances that created an unstoppable trend that made digital banking more relevant than ever. UnionBank of the Philippines president Edwin R. Bautista said the pandemic disrupted the industry and that almost every bank, large and small, adopted digital technology and saw a spike in digital banking usage. "We are taking the digital banking approach," Bautista said in an interview with Daily Tribune. "Digitalization allows us to lower our operational costs. Now we are also leveraging the use of artificial intelligence to serve the traditionally underserved sectors because the technology now lowers the cost of servicing that sector." UnionBank's willingness to adopt digital tools and cutting-edge innovations, when needed, allowed it to expand its market reach. Its relentless pursuit to be at the forefront of digitalization, not only in the banking sector but in the Philippines, is extraordinary. The introduction of AI was a big leap for UnionBank. Bautista said, "Traditional banks will not touch the so-called unserved and underserved sectors because the cost of servicing them was too high. A big portion of the cost is the fact that it is very difficult to predict whether they will pay back or not. In the past, banks assessed credit by looking at financial statements, taxes, etc. It is more difficult for the underground economy because they have no written transaction documents." The lack of these essential documents does not mean a person cannot pay, but rather, the banks try to avoid them because of the risks. "AI helps us by putting together different information about that particular business or person, including the cash flows, sales, and other trends that are usually taken for granted by manual assessments. AI can give a prediction on the likelihood of whether they will pay you back or not, Bautista added. Indeed, UnionBank is one of the very first banks to witness the storm of digitalization. Unfortunately, many popular banks are very slow to catch up and are new to the list of digitalization. Low digital banking penetration Although the Philippines is one of the fastest-growing economies in Southeast Asia, the country has the lowest digital banking penetration of any Asian market, according to a study by McKinsey& Company. In a survey, McKinsey found that only 12 percent of Filipinos had tried Internet banking, compared with 28 percent in other developing countries of the region. “In the Philippines, 35 percent of digital consumers (defined as consumers who make purchases online) own a smartphone, but only nine percent of Filipino consumers said they had used a smartphone to bank, compared with 26 percent in developing Asia,” the study said. In addition, local banks allocate less than 10 percent of their revenues to IT, compared with nearly 15 percent among leading banks elsewhere in Asia–Pacific and digital channels account for just five to 15 percent of their income, well below the average of 25 percent for their peers in Asian emerging markets. But change is coming, Bautista said. 'No more baby steps "We have a problem if we continue taking baby steps because, by the time your development is ready, a new technology will emerge. You need to move faster and you need to take bolder actions if you want to ensure that you stay in the game," he added. In order to be competitive, Bautista said technological advances such as blockchain and AI would need to be integrated into the banking system, adding these technologies will play a critical role in the evolution of the industry. The need to modernize the banking industry's backbone, including its core banking systems, deposits and credits, will remain the most important services of a bank, he added. Bautista said that harnessing the powers of AIs, machine learning and blockchain would deliver a seamless customer experience on the front end by solving the growing intolerance of clients for glitchy apps or systems. “We don’t really know where the banking sector or technology is going to go because, to me, the AI that we see right now is not even stage one of its potential. Yet, we are already talking as if our lives will be destructed by the technology,” he said. “You can just imagine if we reach stage two or three,” Bautista added. According to Bautista, AI is going to disrupt our lives in all aspects. “We don’t know how big its impact will be, but we have to figure out how we can adapt,” he said. All told, no matter how banks utilize digital technologies or even AI, the focus on technology and constant investments in IT infrastructure across the industry is paramount to avoid the risk of being disrupted and be prepared for any disruption. The post Digitize, digitize, digitize appeared first on Daily Tribune......»»
BoI seen hitting P1.5-T investment target
The Board of Investment is expecting to hit its P1.5-trillion target investment for the year through the massive renewable energy projects that have entered the country and will be launched in the coming months. Trade Undersecretary and BoI Managing Head Ceferino Rodolfo said the Philippine government and its partners are setting up to announce five major RE projects, which can be leveraged to advance its agenda of transforming the country into an investment hotspot. “Renewable energy projects are so abundant right now. We are confident that we will get the P1.5 trillion, because of these, particularly the offshore wind projects,” Rodolfo said in an interview with reporters last week. He also pointed out that the Philippines’ sustainability-driven initiatives caught the attention of big-time foreign investors. Renewable energy projects “At least five RE projects will enter this year. At the very least, each project will be $2 billion. That’s the average we see for offshore wind. That means (we can get) about P100 billion immediately,” he added. He also added that the Department of Energy’s decision to allow foreign investors or foreign-owned entities to explore, develop, and utilize renewable energy available in the country opened up more opportunities for the power sector. Floating solar projects To recall, the DoE recently turned over more than half of the $1.7 billion worth of large-scale floating solar projects to be installed on the water surface of Laguna Lake to SunAsia Energy and Blueleaf Energy. The DoE turned over six out of 10 Solar Energy Operating Contracts with a combined capacity of 610.5 megawatts for the construction of its large-scale floating solar projects. Each contract has a 25-year operating period. Initially, the Department of Trade and Industry set a P1-trillion investment target for the year, but with a “very healthy flow of investment project applications during the first month of the year,” the agency hiked its target to P1.5 trillion. The post BoI seen hitting P1.5-T investment target appeared first on Daily Tribune......»»
The Hatch Project – AI in action (2)
If KadaKareer, the first place winner of the Rotary Club of Makati’s digitally inspired Hatch Project, focuses on the aspirations of the low-income segment of our youth to land meaningful employment though they are handicapped by limited resources and networks, and addresses the typical SMEs’ need for competent, reasonably valued, operating support, the second placer, Bangus PAFK: Bangus Pro-Active Fish Kill, seeks to address a perennial problem plaguing our aquaculture industry, fish kill. Fish kill or fish die-off is the sudden death of a large population of fish in a specific area of the marine environment such as a lake or a fish pen triggered by the deterioration of the quality of the water. We need not look too far for examples. Laguna de Bay’s steady deterioration over the decades of man-made pollution from industrial firms, extreme weather disturbances, and fish pen mismanagement have contributed to the degradation of the water quality in the lake arising from high water acidity levels, extreme water salinity, the concentration of ammonia, abrupt changes in water temperature and oxygen depletion, a sure-fire formula for the fish kill. This sad state of affairs is unfortunately not limited to Laguna Lake. This is happening as well in other aquaculture-dependent communities such as Pangasinan, where the project was initiated, and where the aquaculture industry is a major driver of the province’s economy. A few instances. In Bolinao, P22M worth of bangus was wiped out in a fish kill rampage in a matter of days in May 2020 after a heavy downpour. In Dagupan in 2019, thousands of fish, dead due to extreme heat. Just last January, in Lake Sebu in Cotabato, P10M worth of tilapia was spoiled due to improper aquaculture practices and weather disturbance-induced fish kill. Evidently, fish kill is a serious concern that needs to be addressed. Allow a non-techie, yours truly, to share my understanding of how PAFK works. Basically, it is an Internet of Things or IoT-based initiative of students from the Pangasinan State University, conceived not only to alleviate the plight of the fish farming community of Dagupan whose livelihood has been affected by fish kill but also to contribute in no small way to the very important task of ensuring food supply. PAFK monitors in real time the water condition and can forecast the occurrence of a looming fish kill of bangus in fishponds. The application uses sensors installed on a floating platform in a fish pen to remotely monitor the levels of dissolved oxygen, acidity, salinity, and ammonia, and to measure the water temperature. These sensor readings are recorded and transmitted to the Arduino microcontroller. An Arduino is an open hardware development board that can be used by any tech-savvy hobbyist to design and build a device that interacts with the real world. In the case of PAFK, the device the students created has sensors attached to the mainboard which is programmed to wait for a signal from the connected sensors. The microcontroller collects the readings hourly and transmits the data via hypertext transfer protocol which in simple terms is an application that allows users to communicate data using the internet. The program has three detection levels similar to street crossing signals: Normal (green light) - no action is required; Warning (yellow light signaling caution)- triggers remotely the switching on or off of the mechanical aeration system through either a text or a missed call; and Critical (red, full stop) - immediate force harvesting or transferring of the fish to another fishpond. Once the Warning or Critical signals occur, an SMS notification is sent to the caretaker’s cellphone. The AI component of the system “decides” when to trigger signals, guided by a predetermined threshold based on minimum or maximum value parameters inputted by the user. AI also calculates the average mean using the frequency distribution method. All the results are online and after receiving and storing the readings on a remote database server, the web page refreshes hourly. Will it work commercially? I certainly hope and pray that it will. Congratulations to three very bright science students of Pangasinan State University – Haryll Caido, Dexter Javelosa, and Jonathan Quiles, and their mentor, Elmer Noche. Until next week… OBF! For comments, email bing_matoto@yahoo.com The post The Hatch Project – AI in action (2) appeared first on Daily Tribune......»»