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Justin Fields market has only reinforced Ryan Poles likely QB decision
The Daily Guardian As the NFL off-season continues to unfold, the future of Chicago Bears quarterback Justin Fields remains uncertain. General manager Ryan Poles has.....»»
Davao residents unsure about city’s near future
DAVAO CITY (MindaNews / 23 February) – Majority of Dabawenyos are uncertain about the city’s future in the next five years, according to a study conducted by the University of Mindanao-Institute of Popular Opinion (UM-IPO). Dr. John Vianne Murcia, director of UM-IPO, said during Kapihan sa Philippine Information Agency-Davao on Friday that only 46.7 percent […].....»»
Future of drivers, operators uncertain as Marcos Jr. rejects franchise consolidation extension
PISTON and Samahang Manibela Mananakay at Nagkaisang Terminal ng Transportasyon (MANIBELA) announced the continuation of the transport strike from Monday, December 18 until December 25. They also saw the possibility of extending it until December 31, the deadline of franchise consolidation. The post Future of drivers, operators uncertain as Marcos Jr. rejects franchise consolidation extension appeared first on Bulatlat......»»
Pacquiao’s gambling gambit
Former Senator Manny Pacquiao found himself in the 10th to 13th position in a 30 September to 4 October survey for the upcoming 2025 national elections. As he is eligible to run again for senator, he appears determined to do so after completing a six-year tenure in the Upper Chamber. Pacquiao’s political ambitions were dealt a blow in the 2022 presidential elections, a predictable outcome given the overwhelming popularity of Bongbong Marcos at the time. However, if there’s one thing Pacquiao is known for, apart from being one of the greatest Filipino athletes, it’s his penchant for taking high risks and gambling with his future. It’s evident that gambling has permeated his public image by endorsing various betting platforms. Post-2022 elections, the boxing legend became associated with M88 Mansion, a company that boasts the “largest and most diversified collection of sports betting offers, casino slot games, table games, and live dealer casino games” on its Facebook page. In light of Pacquiao’s uncertain chances of returning to public service in 2025 it raises the question of whether he inadvertently promotes the erosion of Filipino morals and values by aligning himself with gambling firms and their owners. He has allowed his name and image to be featured prominently in online casino and betting ads. Whether he explicitly authorized such usage is unclear, but what is apparent is that he has aligned himself with this vice, a paradox given his Christian identity. Proverbs 13:11 warns, “Wealth won quickly dwindles away, but gathered little by little, it grows.” Pacquiao still has an opportunity to reverse this image within the two years leading up to the 2025 polls. He can choose to dissolve his partnership with Mansion and distance himself from gambling and even POGO firms. Additionally, he can demonstrate honor by disassociating himself from casinos and any activities that dehumanize Filipinos and harm families. If he secures re-election while maintaining associations with gambling companies, it’s expected that he will prioritize their interests. Pacquiao has been instrumental in passing more than 20 laws since 2010, many of which have been commendable and beneficial to the country. However, unless he takes corrective action soon, Pacquiao risks succumbing to the influence of gambling magnates and submitting to their interests, potentially overshadowing his legislative accomplishments......»»
Flesh and blood
Perhaps in all the years in this lifetime that Israel has been at war, we Filipinos never made enough sense of what it is really about. Not until we learned, since 7 October, how cruel and bitter it can be — in the photos of a grown man forever captured screaming into the air over his dead nephew’s body; of shrouded bodies that may never be identified; or a clip of a father holding plastic bags of his kids’ remains. And the babies. And the burned bodies. And the blood splattered all over a bomb shelter. No one — unless it is you or yours — can imagine how it truly feels. If you can feel rage and grief at seeing images alone, how much more can your heart take if it were happening right before you? “We are all human,” a father said on Tiktok. It was he who posted about that father with the plastic bags. “There is no difference between me and this man. When we talk of kids getting killed, bombed, or put on fire, it doesn’t really matter what you believe in, where you come from, or what religion you follow. This is never acceptable! You just have to be a human being to stand up and say stop.” Now I am not sure whether this man was genuine (heaven knows there has been plenty of fake and biased news) or if it was propaganda designed to turn sympathy toward a specific cause. But what he said about being human was true. Amid all the atrocious crimes we have seen in the war raging in Gaza, we need to view the whole situation through our humanity. When Gaza struck Israel the way Hitler hit the Jewish people — with extreme violence and a detailed plan to eliminate the enemy in very specific ways — we recoiled. We remembered. But when Israel defended itself, many condemned it. Why? Many immediately concluded that the war was a Palestinian issue, or about Israel’s attempt at occupation or conquest. It is not. So, while it is natural to react the way we do over civilian casualties and collateral damage — likely letting our emotions get the better of us — we need to muster the sense to take it all in with the correct perspective. We must know more, learn more. Shooting from the hip or erupting without understanding — well, wouldn’t that be just as bad as the perpetrators of the war? What is fact and what is fiction? We must seek the truth in light of the misinformation being deliberately spread on social media. One such claim was debunked on Associated Press recently, about the bombing of a hospital in Gaza supposedly by the Israeli military. This was spread in a social media post written in Arabic. AP said, “No such post exists on the military’s actual social media pages and its top Arabic-speaking spokesperson confirmed his office had issued no such statement.” To think this is but one aspect of the entire issue. Let’s begin with the fact that Hamas is a terrorist organization. It is not about Palestine, it is about pushing Islamic supremacy through force. Israel, if you think about it, has “no quarrel with Palestinians,” as Israel Ambassador to the Philippines Ilan Fluss, himself emphasized in a talk with DAILY TRIBUNE on Monday. “We are in a war against Hamas, not Palestinians — we have to defend our citizens,” he said. It is a “war of survival,” he added. Israel has long been fighting against Islamic forces that want to see it obliterated from the planet. “We don’t have a choice. We will fight. We will win.” The ambassador added, “The charter of Hamas calls for the destruction of the State of Israel. And it says that there is no political agreement…no political agreement can be reached with Israel. Israel has to be eliminated, and Israelis and Jews have to be killed. That’s the agenda of their philosophy. It has to be an Islamic land. “So, when people ask me today, what is the political future here? I say this is a question that you have to ask Hamas or the Palestinians, because in Israel, we have a government that makes decisions, makes a lot more, and when we sign a document, we respect it, and we can negotiate. We’re a political entity. “Hamas is not in a negotiating position. It is in a war position to eliminate Israel. Very simple. And you see the history. I’m not going into the long history, but Israel had pulled out of Gaza since 2005. We are not controlling Gaza. We are on the international border. So, it’s not about a few patients. It is about an organization that, every few years, initiates again an attack against Israel. This time it was the biggest…” However, the ambassador admits, on a personal level, that a solution seems hazy “because it is continuing and we are living in a complicated neighborhood,” he told this columnist. The enemies are “fundamentalists that are promoting these Islamic states, promising these fundamentalistic terror agenda…” Ambassador Fluss may be keeping it all real as a diplomat, but what he may not ever say is that this war is about all of us, too — humans and families and connected lives. When a Filipino caregiver refuses to leave her ward, sacrificing her own life to the end, that is humanity. But to believe that life is only worth living if another race or culture is removed, where is the humanity in that?.....»»
PSA uncertain if price cap will prevent future price hikes
According to the PSA, additional data is required to determine the effectiveness of the price cap in curbing future rice price increases and its potential impact on future inflation......»»
Stitched in time: Likhang Habi Market Fair returns to weave through cultures
The 13th edition of the annual Likhang HABI Market Fair, organized by HABI: The Philippine Textile Council, is set to take place from 13 to 15 October at the Glorietta and Palm Drive Activity Center. This celebration, themed “Web of Woven Wonders,” promotes the Philippines’ rich textile legacy while embracing technology. [caption id="attachment_186369" align="aligncenter" width="1418"] A MASTER weaver from the Tagolwanen Women Weavers Association Inc.[/caption] Tradition and innovation “Web of Woven Wonders” pays homage to the World Wide Web, symbolizing the interconnectedness of people, places and textiles. The community is brought together via traditional fabrics and inventive weaves, Adelaida Lim, the former president of HABI, stressed, demonstrating their diversity and expert craftsmanship. “The way textiles tie and bind us to each other,” Lim said. “The country’s traditional textiles and the innovative weaves various groups of Filipinos have come up with are truly wonderful,” she added. “The diversity and beauty of finished products, and the consummate skill it took to make them are something we can all be proud of!” Designer Len Cabili, a strong advocate for traditional textiles and the woman behind Filip+Inna, praised HABI’s efforts in “pushing weaving into the forefront of Philippine culture.” Cabili highlighted how these textiles are a profound expression of the country’s culture and a testament to the “true value of handcrafted textiles and the unique processes” of its artisans. Following the challenges posed by the pandemic, the fair will host an impressive 72 vendors, including Creative Definitions, Ditta Sandico, Gifts and Graces and Ruyag PH, who represent numerous regional and cultural groups around the Philippines. The vendors will display a wide array of hand-woven products, including textiles, ready-to-wear clothes, bags, shoes, home accessories and furniture made from materials like piña, abaca and cotton. This year’s fair will occupy a bigger area, extending from the Glorietta Activity Center to the area in front of Palm Drive, to accommodate the expanding number of attendees. The current president of HABI, Mia Villanueva, emphasized the growth in participants and the association with local government organizations to promote their goods. [gallery columns="2" size="full" ids="186371,186372"] Embracing global threads As the nation’s de facto textile council, HABI encourages cooperation not only within the Philippines but also the ASEAN neighborhood. Since ASEAN nations are seen as vital sources of inspiration and ideas rather than rivals, the exhibition encourages exhibitors from their nations. Local designers have more options to this collaborative approach, which also allows them to absorb international best practices and experiences. Likhang HABI Market Fair is the climax of the year-round work that HABI has been doing since its founding in 2009. The show, which is sponsored by Ayala Land and the Ayala Foundation, gathers the finest handcrafted textiles, generating respectable employment possibilities and boosting sales for weavers across the Philippines. The fair is more than just a place to sell things; it’s also an opportunity to learn. HABI’s efforts include making documentaries called “The Threaded Traditions Series” about textiles from Panay Island, the Cordillera’s ikat and the Bagobo Tagabawa’s inabal. They’ve also published a book called Piña Futures: Weaving Memories and Innovations by Dr. Randy M. Madrid, edited by Felice Prudente Sta. Maria, which celebrates and explains the Philippines’ rich hand-weaving tradition. Paul Jatayna, an artist, will present a textile display this year that will focus on fresh and imaginative uses of textiles in an effort to draw in a younger audience. Weaving a sustainable future For the purpose of recognizing and developing the craft of hand-weaving, the fair also holds two weaving competitions: the second Eloisa Hizon Gomez Abaca Weaving Competition and the sixth annual Lourdes Montinola Pia Weaving Competition. Such events not only honor the best weavings but also promote creativity and the return of lost styles and techniques. HABI sets its sights on sustaining and advancing heritage fabrics made of locally grown natural fibers. As the 13th Likhang HABI Market Fair draws near, it stands as a celebration of history and creativity and ensures that hand-weaving and its place in the Philippines’ cultural fabric have a bright future. The post Stitched in time: Likhang Habi Market Fair returns to weave through cultures appeared first on Daily Tribune......»»
‘Huge’ overfishing problem shows need to ratify ocean treaty: Greenpeace
Overfishing in international waters has surged in the past five years and demonstrates the need to ratify a recent global treaty to protect the high seas, a Greenpeace report said Wednesday. The non-governmental network is calling on as many countries as possible to sign the treaty next week at the United Nations General Assembly in New York. Finalized in June, the text was hailed as a "historic" accord with the potential to better safeguard the oceans. A key element in the treaty is the creation of a legal framework to protect high seas marine areas -- beyond 230 miles (370 kilometers) from coastlines -- whose good health is vital to humanity. But without enforcement of the accord, such protections are minimal, the report warned. "Reality at sea is moving in the opposite direction from the ambition laid out in the Treaty," it said. Governments must step up immediately, urged Greenpeace oceans campaigner Chris Thorne, aboard the group's ship Arctic Sunrise, which was docked Wednesday in Long Beach, California for an event marking the report's release. To protect 30 percent of Earth's land and oceans by 2030, the target adopted last year by the COP15 convention on biological diversity, "there is no time to waste," he told AFP. Fishing hours on the high seas increased by 8.5 percent between 2018 and 2022, according to the report, which compiles data from an organization capable of tracking boat movements via their transmitters. Such intensification is especially pronounced in the ecologically sensitive areas identified by the UN as potential future marine sanctuaries. Greenpeace reported fishing there has increased by 22.5 percent over the same period. "Overfishing is a huge problem," Thorne said. "That fishing pressure is just absolutely unsustainable, and it's pushing our oceans to the brink." Greenpeace's report notes that in the span of 30 years, stocks of Pacific bluefin tuna have collapsed by more than 90 percent. It also draws attention to the damage caused in open seas by longline fishing, which uses cords fitted with thousands of baited hooks dozens of miles long. The destructive method catches many sharks by mistake. 'Let her heal' Given such dire situations, using the treaty to create high seas sanctuaries is crucial, said Samantha Murray, a marine biodiversity specialist at the University of California San Diego. "We have up to 670 percent greater biomass inside highly protected and fully protected reserves," she told reporters. "When we sort of leave the ocean alone and let it be who she is and let her heal, we get more complex ecosystems that can be more resilient." In order to come into force before the next UN Ocean Conference, in 2025, the treaty will need ratification from at least 60 nations. This would enable convening a conference of the parties, empowered to create the marine sanctuaries. Scientists and non-governmental organizations have already identified a dozen priority high seas zones needing protection. They include the Costa Rica Thermal Dome, a nutrient-rich marine biodiversity hotspot hospitable to blue whales; the Emperor seamount chain of underwater mountains near Hawaii; and the Atlantic's Sargasso Sea region. In addition, the Salas y Gomez and Nazca ridges off Chile's coast may be among the first sanctuaries to see the light of day. The post ‘Huge’ overfishing problem shows need to ratify ocean treaty: Greenpeace appeared first on Daily Tribune......»»
Ressa, Rappler acquitted of tax evasion
Nobel Laureate Maria Ressa and Rappler Holdings Corporation were acquitted by a Pasig court in a tax evasion case filed in connection with their supposed failure to declare tax in 2015. Atty. Francis Lim, counsel of Ressa, said his client and RHC were acquitted by the Pasig Regional Trial Court Branch 157 of violation of Section 255 of the National Internal Revenue Code (Tax Code) for the failure of the prosecution to prove their guilt beyond a reasonable doubt. All five tax evasion charges filed against the respondents have been junked by the Pasig RTC which was filed during the administration of former President Rodrigo Duterte. Ressa, 59 years old, shared the Nobel Peace Prize with Russian journalist Dmitry Muratov in 2021. She has been fighting multiple charges filed during the administration of former President Rodrigo Duterte. The journalist and Rappler had faced five government charges of tax evasion stemming from the 2015 sale of Philippine depositary receipts, which is a way for companies to raise money from foreign investors. In January, the Court of Tax Appeals First Division found Ressa and RHC not guilty on three counts of failure to supply the correct information and one count of tax evasion, amounting to P141 million worth of taxes, including surcharge and interest. The fifth charge was heard by a different court, which cleared her and Rappler of wrongdoing yesterday. However, Ressa and Rappler face an uncertain future as they battle another two court cases, despite the acquittals. Ressa and a former colleague Rey Santos Jr. are appealing a cyber libel conviction that carries a nearly seven-year jail sentence. The post Ressa, Rappler acquitted of tax evasion appeared first on Daily Tribune......»»
Philippine Nobel winner Maria Ressa acquitted of tax evasion — court
Philippine Nobel laureate Maria Ressa was acquitted Tuesday of her final tax evasion charge, in the latest legal victory for the veteran journalist as she battles to stay out of prison. Ressa smiled as the judge delivered the verdict in the years-long case, an AFP journalist inside the courtroom said. The 59-year-old, who shared the Nobel Peace Prize with Russian journalist Dmitry Muratov in 2021, has been fighting multiple charges filed during the administration of former president Rodrigo Duterte. Ressa, a vocal critic of Duterte and his deadly drug war, has long maintained that the cases against her and the news website Rappler, which she co-founded in 2012, were politically motivated. Ressa and Rappler had faced five government charges of tax evasion stemming from the 2015 sale of Philippine depositary receipts, which is a way for companies to raise money from foreign investors. A court acquitted them on four of the charges in January. The fifth charge was heard by a different court, which cleared her of wrongdoing on Tuesday. Despite the acquittals, Ressa and Rappler face an uncertain future as they battle another two court cases. The post Philippine Nobel winner Maria Ressa acquitted of tax evasion — court appeared first on Daily Tribune......»»
Megaworld raising P1.8B from project
Property developer Megaworld Corp. led by tycoon Andrew Tan is eyeing to generate as much as P1.8 billion from the third residential condominium development within its 140-hectare Maple Grove township in General Trias, Cavite. In a stock exchange report on Thursday, the company said the 14-story Maple Park Residences that it recently launched is slated to be complete within the next five years or by 2028. Maple Park Residences will offer 200 smart home units in varying unit types — studio, one-bedroom with and without balcony, and two-bedroom with and without balcony. The development will also be the first across Megaworld’s portfolio to feature a dedicated electronic vehicle charging facility in the parking area. Scandinavian-inspired “The concept behind Maple Park Residences draws inspiration from the Scandinavian countries as well as communities in Makati where residents are surrounded by lush open spaces in the middle of a modern and urban city. Maple Park Residences will offer both the excitement of urban living and the laidback setting of Cavite,” said Eugene Lozano, first vice president for sales and marketing, at Megaworld Cavite. Maple Park Residences will be accessible to future residents via the six-lane, 30-meter-wide Maple Grove Boulevard, which was recently integrated into the 12-kilometer General Trias-Tanza Bypass Road project by the local government of Cavite and the Department of Public Works and Highways. Benefitting from the recovering economy, Megaworld booked a double-digit profit growth during the first half of the year as net income hit P8.8 billion — 31 percent higher than last year’s earnings. Megaworld said the rosy numbers were also primarily driven by the 17 percent growth in consolidated revenues to P32 billion as “core businesses registered robust performance during the period.” The post Megaworld raising P1.8B from project appeared first on Daily Tribune......»»
Filipino LGBT Europe launches European forum on LGBTQ+ rights and health
The first Filipino-European LGBTQIA+ Advocates Forum opened at the Amsterdam Mayor’s Residence in the capital city of The Netherlands on 2 August. The three-day forum, which coincided with the celebration of Amsterdam Pride Week, aimed to shed light on the fight for equal rights for the Filipino LGBTQ+ sectors in both the Philippines and the Filipino communities in Europe. The opening ceremony was graced by Alexander Scholtes, deputy mayor of Amsterdam; Katharina Kacerovsky-Strobl, organizer of Vienna Pride, EuroPride Vienna and Stonewall GmBH; and Jarie Osias; charge d’affaires of the Philippine Embassy in The Hauge. In his welcoming remarks, Chris Santa Brigida Kopp, chair of Filipino LGBT Europe, reiterated his call for worldwide solidarity in the Filipino LGBTQ+ community. He stated that those who have experienced being in places where equal rights are guaranteed must not forget that the same cannot be said for queer siblings in the Philippines. He noted that despite the distance the forum demonstrated sympathy and love for everyone in the community. [caption id="attachment_173978" align="aligncenter" width="525"] Guests at the opening of the first Filipino-European LGBTQIA+ Advocates Forum. | PHOTOGRAPHS COURTESY OF FILIPINO LGBT EUROPE[/caption] Osias noted that in pre-Hispanic Philippine society, equality between all genders was said to be more pronounced than at the present time. He expressed hope that such becomes once again standard in the Philippines. He highlighted the steps that the Philippine government has taken toward that goal including the institutionalization of LGBTQ+ Pride Month by the Supreme Court, the rising number of local legislations that respect equality regardless of sexual orientation, identity and gender expression, and the ongoing formation of a special advisory body for LGBTQ+ issues in the Office of the President. He ended his speech by saying, “We are all human beings. We are all the same. We are equal. We should be equal in the eyes of the law.” This same sentiment was echoed by the Philippine ambassador to The Netherlands, Jose Eduardo Malaya III. He stressed that “when rights are protected, society flourishes.” The presence of guests from different parts of Europe joining hand-in-hand with the Amsterdam-based Filipino LGBT Europe was accentuated by Scholtes in his special address. He noted that the fervor of those that came was a show of the solidarity to the Filipino LGBTQIA+ community in Europe and how they are one with their queer siblings in the Philippines. He reiterated that Amsterdam Pride Week is one in spirit with such endeavor, stating that Pride is an event of celebration, protest and community building. He added that with the first Filipino-European LGBTQIA+ Advocates Forum, Amsterdam Pride Week also became a time to learn. As someone in a position of power, he stated that such an opportunity is valuable to demonstrate that things can still be better. He ended his speech by likening the Amsterdam Filipino LGBTQIA+ community to the tulip, which originated in Asia but bloomed beautifully in the Netherlands. Kacerovsky-Strobl emphasized that the battle for equality is not over yet and that Pride must continue as long as intolerance, fear, and hate exist. Evidence of the strengthening ties between the LGBTQ+ communities in Europe, Vienna will host the second Filipino-European LGBTQIA+ Advocates Forum. Kacerovksy-Strobl stressed that “inclusion is the future.” The opening ceremony of the forum ended with a show of appreciation to Filipino-Dutch couple, Godwin and Wimmo Yosalina-Bouman, who opened their doors to the Filipino LGBTQ+ community in the Netherlands and created a safe space. BAYOTA Community Center, which is now three years old, is a place to share culture, food and companionship. The post Filipino LGBT Europe launches European forum on LGBTQ+ rights and health appeared first on Daily Tribune......»»
James Harden on the potential irreparable damage to his relationship with the 76ers
Title: James Harden’s Relationship with Philadelphia 76ers in Shambles, Future Remains Uncertain Philadelphia, PA – In a shocking revelation, James Harden, the former Houston Rockets.....»»
Fed rate hikes still likely — economists
Economists expect higher returns from US dollar-denominated bonds as the improving job market overseas signals higher rate from the Federal Reserve this year. “It is very uncertain if the Federal Reserve is already done with its hiking cycle. Additional rate hikes are still possible given the tight labor market in the US and its impact on wages,” Jun Neri, chief economist of Bank of the Philippine Islands, said Thursday. Data from the US government showed an additional 187,000 jobs last month, indicating a livelier business environment and overall economic growth in the US. Recession fears linger The job data came after worries about the recession caused by high inflation and recent layoffs, especially in the technology industry. “Short-term bond yields may stay elevated as central banks continue to fight inflation,” Neri said. Michael Ricafort, chief economist of Rizal Commercial Banking Corp., told the Daily Tribune the growth in the US industrial sector driven by a 5.2 percent expansion in automobiles in July further supports the still elevated rates. “Stronger US industrial production data could support future Federal rate hikes. Most participants also continued to see significant upside risks to inflation, which could require further tightening of monetary policy,” he said. With more job opportunities and income earners, Ricafort agreed with economists that the chances of the US going into a mild recession are now slim. The post Fed rate hikes still likely — economists appeared first on Daily Tribune......»»
WeWorks Uncertain Future Raises Speculations – The Daily Guardian
Title: WeWork Faces Uncertain Future Amidst Financial Concerns and Leadership Changes Date: [Current Date] Source: The Daily Guardian WeWork, the global co-working giant, has raised.....»»
Slim ICTSI profit gains as global growth skids
Razon-led global port operator International Container Terminal Services Inc., or ICTSI, reported a narrow profit growth in the first half as it continued to navigate through the lingering global market uncertainties. In a bourse report on Monday, the company disclosed booking a $313.8-million attributable net income, which was 7 percent higher than the recorded $294.48 million a year ago. “The macroeconomic and geopolitical climate continues to be uncertain, but these results give us continued confidence in our financial and operational resilience,” ICTSI chairperson and president Enrique K. Razon Jr. said in the report. “The opportunities for future growth are considerable and we will work closely with our stakeholders to achieve positive change for the communities in which we operate and deliver long-term sustainable growth,” he added. Excluding the impairment of goodwill attributed to its Pakistan International Container Terminal, net income attributable to equity holders would have grown 10 percent to $324.41 million. 10% revenues growth Meanwhile, revenues from global port operations during the period improved by 10 percent to $1.16 billion from $1.06 billion a year ago. ICTSI handled a consolidated volume of 6,275,837 twenty-foot equivalent units or TEUs as of end-June, up by 9 percent from the 5,752,582 TEUs handled in the same period in 2022. From January to June, the company spent $152.23 million to fund ongoing expansions. This year, the company sees spending to reach $400 million to sustain its growth momentum. “We have a robust balance sheet and a high cash-generative business which looking ahead, will enable us to continue our strong track record of investing in our terminals to support future growth for the benefit of all our stakeholders,” Razon noted. Among others, the estimated capital expenditure will be utilized to fund the ongoing expansion at the company’s terminals in the Philippines, Australia, Mexico and the Democratic Republic of Congo. Operating 33 terminals in 20 countries across six continents, ICTSI is a global developer, manager, and operator of container terminals in the 50,000 to 3.5 million TEU per year range. The post Slim ICTSI profit gains as global growth skids appeared first on Daily Tribune......»»
The Daily Guardian: Nigers Crisis Escalates with Frances Evacuation Plans and Neighboring Juntas Support
Title: France Prepares to Evacuate Citizens as Niger Faces Uncertain Future Subtitle: Recent military coup sparks deepening crisis with potential regional implications Date: [Current Date].....»»
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......»»
‘Era of mass closures’: the Japan businesses without successors
Kiyoshi Hashimoto's machinery factory outside Tokyo should be buzzing with industry. Instead, it's so quiet you can hear him practicing the recorder. The 82-year-old entrepreneur founded his company nearly 40 years ago, but well past retirement age he has neither a successor nor a buyer for a business that retains loyal clients. It is a problem that Japan's government warns could affect up to a third of all small businesses in the country by 2025, as the country's population shrinks and ages. "All of this would go to waste if I were to close now," said Hashimoto, whose factory in Yachimata, east of Tokyo, is filled with workbenches, drill tables and parts cabinets. He once employed dozens of people, but now gets by with just two part-time workers after scaling back operations. The problem is so vast that Japan faces an "era of mass closures", said Shigenobu Abe of bankruptcy research firm Teikoku Databank. A 2019 government report estimated that about 1.27 million small business owners would be 70 or older by 2025 and have no successors. The trend could kill up to 6.5 million jobs and reduce the size of the Japanese economy by 22 trillion yen ($166 billion), the study warned. By 2029, the situation will worsen still, as baby boomers hit 81, the average life expectancy for Japanese men, who account for most of the presidents of these firms, according to Teikoku Databank. "We know for sure that many workers will lose their livelihoods because of this," Abe told AFP. 'A serious blow' As elsewhere, small businesses in Japan are often passed down to family or trusted employees. But the country's prolonged economic stagnation has made small businesses unattractive to young people. Firms in rural areas struggle further because of a preference for city life and a growing trend of rural depopulation. Compounding the problem is a feeling among some older Japanese that selling a family business to outsiders is shameful. Some liquidate their firms rather than seeking buyers. Japan's government has offered generous incentives to encourage sales, and the private sector has also jumped in to match investors with businesses for sale. Company BATONZ now makes more than 1,000 matches a year, up from just 80 when it opened in 2018. Still, it reaches a fraction of the people who need it, said BATONZ president Yuichi Kamise. Waves of closures will mean the loss of specialized craftsmanship, unique services and original restaurant recipes that make up Japan's social and cultural fabric, he said. "Over time, what makes Japan unique could disappear due to a lack of successors," he said. "I think it will deal a serious blow to Japanese culture and Japan's attractiveness as a tourism destination." Some feel though that the trend offers a chance to fix inefficiencies and consolidate small businesses that are barely scraping by or survive on subsidies. Hiroshi Miyaji, 50, owns Yashio Group, a logistics giant started by his grandfather, and has snapped up various businesses. "There will always be buyers for firms, with or without successors, that have unique strengths, special know-how and human resources," said Miyaji, a third-generation president. Helped by BATONZ, he recently purchased a small trucking company from 61-year-old Ayako Suzuki. 'Waiting for someone' Suzuki gave up her corporate career to help her father with the business he had started in 1975. None of the firm's three drivers wanted to take over and she was asked to join and help her father, then in his late eighties. But problems quickly piled up: the coronavirus pandemic hit, a driver left, trucks needed maintenance, and before long she was dipping into savings to stay afloat. "I wanted to keep the business going, at least while my father was alive," she told AFP. BATONZ connected her with Miyaji, who pledged to keep the firm's employees, clients and trucks. "I'm more relieved than sad," she said. "I didn't think our company had any value." The glut of affordable small businesses can be a boon for young people looking to break into a sector. Among them is 28-year-old chef Rikuo Morimoto. When the pandemic prevented him from studying in Italy, he used his savings to buy a four-decade-old diner in Tokyo and start a restaurant at a fraction of the normal cost. He kept the decor, furniture and many longstanding customers of "Andante", a beloved neighborhood restaurant in the Suginami district, while offering his own menu. "I thought I could only afford to have a food truck or a small bar," he said. Not everyone is so fortunate, and the future of Hashimoto's machinery factory remains uncertain, despite his attempts to groom three successors. "I'm just waiting for someone to come along and make use of this," he said. The post ‘Era of mass closures’: the Japan businesses without successors appeared first on Daily Tribune......»»
ANGKAS: Driving force of the future
Millions of commuters brave the road every single day. At the same time, being on the road and picking up passengers despite unpredictable weather conditions and uncertain times has become the primary source of income for drivers — and this is how Angkas become a driving force for both commuters and drivers despite the worsening transportation crisis in the Philippines. Angkas CEO George Royeca is a beacon of hope for commuters struggling to find a ride amid bustling crowds and everyone who wants to earn money from ride-hailing. "We're looking at empowering the informal sector, particularly those that own a motorcycle. We can quickly help reinforce the motorcycle as a business concept to many Filipino brothers and sisters so they can lead a good life," Royeca said in a recent interview. Bounce back As pandemic restrictions ease and more Filipinos return to the road since last year, Angkas champions as one of the best ride-hailing companies in the Philippines, offering an affordable and reliable ride that commuters can enjoy without compromising their safety. During the pandemic's peak, back riding on motorcycles has been limited to people within the same household. With the government allowing Angkas to reopen its services to the public, it became a viable option for commuters, considering the seating capacity restrictions of trains, buses, and other public utility vehicles. With Angkas' upstanding performance in serving Filipinos in their everyday lives, Royeca is optimistic about the mobile application's future in the market. "I'm thrilled that every person that we talk to, whether they're from the government or the private sector, they believe in this industry that we have been able to establish, and I think that we have proven that it is a safe form of transportation and also an affordable option, alternative to the existing transportation public utility vehicles," he said. Royeca also mentioned expanding the mobile application to the informal sector. "Outside Manila, there's still a lot of habal-habals (motorcycles-for-hire) that are informal, and it is time to make them a part of the legitimized (system)," Royeca said, believing that all riders should experience the same opportunities as Angkas riders. With the Republic Act 4136, or the Land Transportation and Traffic Code, private owners of motorcycles can be sued when they accept or transport passengers in exchange for payment. Despite good intentions to provide an alternative and ease commuter needs, habal-habal remains unregulated and illegal under Republic Act no. 4136 — and it becomes heavily discouraged by the authorities since private riders cannot offer safety or insurance when extreme circumstances arise. Fulfilling dreams Angkas bring forward a positive change towards their bikers in pushing through with their goals and life aspirations. A living testament to Angkas' strong commitment towards its bikers is Kleiy Zarus Escalona, an Angkas rider who was able to graduate with a degree in BS Criminology. In a Facebook post that garnered a positive reaction from netizens, Escalona thanked Angkas for helping him finish his studies while earning at the side. “SALAMAT ANGKAS since 2017 hanggang ngayon ANGKAS kasama kita. Laking tulong mo sa mga estudyante(ng) nakakapaghanapbuhay ka ng hindi nakaka-abala sa pag-aaral mo kaya maraming salamat sayo (Angkas) nakapagtapos ako ng pag-aaral sa kursong BS CRIMINOLOGY, (Thank you Angkas for being with me since 2017. You are a big help to working students that’s why I am thankful to Angkas because I was able to finish my studies with a degree in BS Criminology.)” the Facebook post reads. Escalona's story proves how perseverance and hard work pay off. At the same time, it is a story that shows how Angkas' business model helps its riders have a productive and meaningful life outside the ride-hailing platform. Royeca is proud of the rider for his success, adding that Angkas firmly adheres to creating more job opportunities and alleviating poverty. Royeca confirmed that 30,000 registered bikers on their platform are out of the poverty line — and they will continue to extend their services to the Filipino people. With more than seven to eight million downloads of the mobile application, Royeca is hopeful and persistent in bringing the well-loved ride-hailing service to cities outside Metro Manila in the future. "We're hopeful that we can open up and provide services to the places that needed it the most, which are the provinces, so I think there is a lot of opportunity there," Royeca said, noting that Angkas is on the process of extending their reach outside Metro Manila, including Cebu and Cagayan de Oro. The post ANGKAS: Driving force of the future appeared first on Daily Tribune......»»