We are sorry, the requested page does not exist
Return separation pay, viral ex-cop told
Brig. Gen. Niño David Rabaya, director of the Philippine National Police-Retirement and Benefits Administration Service, demanded from viral road rage ex-cop Wilfredo Gonzales the return of the money he received despite his dismissal from the police service. Gonzales was dismissed for grave misconduct in 2018, two years after he retired upon reaching the mandatory retirement age of 56 where he got his separation pay. His dismissal which stemmed from a gun-toting incident he was involved in in 2006 led to the forfeiture of his benefits retroactively. In a press conference in Camp Crame on Monday, Rabaya, said Gonzales is required to bring back to the PNP around P588,000 sending him letters demanding the return of the money, since 2019 but they have yet to get any response from him. “It’s basically his terminal leave or leave credits as he also received ‘three’ year lump sum pension starting 2016 to 2019 but when the PRBS was able to receive the dismissal order, his monthly pension which was supposed to start in 2019 was not anymore activated. So basically he is not anymore receiving pension from us,” Rabaya told reporters. “As a matter of procedure, we are already preparing the demand letter for patrolman Gonzales to return the money. We will be taking civil action against him. We have already referred this to our legal then civil action will be taken against him if he refuses to return the amount,” he stressed. The QC People’s Law Enforcement Board started the conduct of a thorough investigation of the incident upon the order of Quezon City Mayor Joy Belmonte. The probe aims to identify the lapses committed by the police during the settlement of the case. Gonzales is currently in hot water after he was involved in a viral altercation with a cyclist in Quezon City on 28 August. He hit the cyclist on his head and even pulled out and cocked his gun. Gonzales said they had already settled the matter in a police station. It was reported that the cyclist paid Gonzales P500 for the damages to his vehicle during the settlement. Gonzales is now facing charges for alarm and scandal filed by the Quezon City Police District. The PNP Firearms and Explosives Office also revoked the License to Own and Possess Firearm, Firearm Registration and Permit to Carry Firearms Outside Residence of Gonzales. The Land Transportation Office also issued a 90-day preventive suspension on Gonzales’ driver’s license pending the conduct of an investigation on the matter. The post Return separation pay, viral ex-cop told appeared first on Daily Tribune......»»
Davao de Oro flood victims receive aid from Bong Go
Senator Christopher “Bong” Go’s team extended assistance to residents recovering from recent flooding in Pantukan, Davao de Oro on Wednesday, 30 August. In a video message, Go acknowledged local officials, including Governor Dodot Gonzaga, Vice Governor Tyron Uy, and Mayor Leonel Ceniza, for their prompt response to the needs of the affected families. Go's team distributed masks, shirts, and vitamins to 649 flood victims present at Barangay Napnapan covered court. They also gave away shoes, mobile phones, watches, and balls for basketball and volleyball. The Department of Social Welfare and Development (DSWD) also extended financial assistance through the Assistance to Individuals in Crisis Situation program. Congressman Ruwel Gonzaga, Board Member Ruwina Gonzaga, and former governor Arturo Uy were present during the event. “Alam ko pong mahirap ang panahon ngayon pero magtiwala lang ho kayo sa gobyerno. Kayo po ang nagbibigay ng lakas sa amin upang makapagserbisyo pa po sa abot ng aming makakaya para malampasan natin ang krisis at sana po’y makabalik na tayo sa ating normal na pamumuhay,” said Go. Go also stressed the urgent need for a comprehensive and coordinated disaster management approach. He highlighted the importance of Senate Bill No. 188, which proposes the establishment of the Department of Disaster Resilience (DDR). SBN 188 aims to consolidate all disaster-related agencies and functions into a single entity to streamline efforts and enhance disaster response efficiency. By elevating DDR to a Cabinet secretary-level department, the government can better allocate resources, develop improved disaster risk reduction strategies, and promptly aid affected communities, especially those from vulnerable sectors, cited Go. “Dapat na may nakatutok talaga na may awtoridad at malinaw na mandato. Hindi na puwedeng laging task force na lang dahil temporary lang ito at nawawala ang continuity kapag nagpalit na ng administrasyon. Mahirap din kung mananatiling coordinating council lang ang mamamahala sa ganitong sitwasyon dahil sa kakulangan ng kapangyarihan nito,” Go earlier explained. “Dapat ay departamento sana na may Cabinet-level na kalihim na in-charge para may kapangyarihan at kakayahang i-mobilize ang buong gobyerno kapag kinakailangan. Magkakaroon siya ng personalidad na diretsong isasangguni sa ibang departamento ang pangangailangan ng mga taong apektado ng krisis,” he added. As chairperson of the Senate Committee on Health and Demography, Go took the opportunity to emphasize the importance of prioritizing health for the residents. He encouraged them to avail of medical assistance through the Malasakit Centers, conveniently located at Davao de Oro Provincial Hospital branches in Laak, Montevista, Maragusan, and Pantukan, as well as the Davao Regional Medical Center in nearby Tagum City. Initiated by Go in 2018, the Malasakit Centers serve as one-stop shops, bringing together multiple government agencies such as DSWD, Department of Health (DOH), Philippine Health Insurance Corporation, and Philippine Charity Sweepstakes Office, to ensure medical assistance programs are accessible by indigent Filipinos. Go is the principal author and sponsor of Republic Act No. 11463, commonly known as the Malasakit Centers Act of 2019. The program has demonstrated its effectiveness nationwide, benefiting over seven million Filipinos, as reported by DOH. Go also highlighted the role of Super Health Centers in making quality healthcare services accessible to all Filipinos, especially those living in remote and underserved areas. Go also stressed that no Filipino should be left behind when it comes to receiving proper medical attention and treatment. In 2022, the Super Health Centers in Davao de Oro commenced construction in Montevista, Nabunturan, and Mawab. This year, there will be two centers in the town, and one each in Monkayo and Compostela. “Ang kagandahan nito early detection at magagamit ito sa pagkokonsulta and it will help decongest the hospital dahil pwede na pong gamutin dito. At ilalagay po ito sa mga strategic areas. Ilalagay nila sa isang barangay kung saan po’y makaka-access ‘yung mga kababayan natin, hindi na nila kailangan pang magbiyahe pa sa Poblacion, hindi na nila kailangang magbiyahe pa sa provincial hospital. Pwede na pong gamutin dito, early detection mas maganda po ‘yon para hindi na lumala ang sakit ng mga pasyente,” Go said. He also underscored the importance of bringing specialized medical services closer to communities by establishing dedicated specialty centers in regional hospitals under the DOH. Go is the principal sponsor and one of the authors of RA 11959 or the Regional Specialty Centers Act. The newly enacted law includes provisions for the establishment of specialty centers within existing government-controlled corporations or specialty hospitals. It also outlines the specific service capabilities that DOH will implement in regional hospitals. Go, vice chairperson of the Senate Committee on Finance, has actively supported various infrastructure projects in Davao de Oro. His contributions include the construction of a multipurpose building in Compostela; construction of the Monkayo, Compostela Valley-Veruela Road; and improvement of the public market in Monkayo. Other major initiatives he supported include the construction of the Nabunturan-Maco and Nabunturan-Laak roads; the installation of street lights in Nabunturan; the rehabilitation of the local roads and bridges in New Bataan; and the concreting of the local access road in Pantukan. The post Davao de Oro flood victims receive aid from Bong Go appeared first on Daily Tribune......»»
Digitalization: Walking the talk
In our 28 July article, we spoke about the President’s State of the Nation Address or SoNA. If you recall, he ended the SoNA by stating, “I know that the state of the nation is sound and is improving. Dumating na po ang Bagong Pilipinas.” Among the pillars he mentioned to support and substantiate is the digitalization efforts of this administration. We lifted a couple of direct quotes from the SONA, but we wish to highlight a couple more for today’s article, namely: “Digitalization is the call of today; not the call of the future — but of the present. It is here. It is needed, and it is needed today.” “Digitalization will support the government’s data-driven and science-based planning and decision-making. It is the greatest, most powerful tool, not just to improve the ease of doing business, but also against many forms of graft and corruption.” Just last Tuesday, 22 August, a Department of Budget and Management press release shared the belief that President Ferdinand Marcos Jr. fully supports the creation of an e-marketplace where government entities may directly procure products for their needs, like online shopping platforms. In this, PBBM is hitting two birds with one stone. Not only is he advancing his call for digitalization, but he is also putting into practice the policies behind Republic Act 11032, also known as the Ease of Doing Business and Efficient Government Service Delivery Act of 2018. In addition, there are other points related to this that are worth highlighting. DBM again has shared the very encouraging possibilities they are exploring and working on. It was explained that the idea is to help get rid of the lengthy process of public bidding for certain products, as government entities can buy straight from the virtual market. To ensure the quality of the merchandise to be bought and the dependability of their suppliers, there will be a mechanism to qualify and identify which are the right products and suppliers that will be placed in this marketplace. Whatever and whoever they shall be, it is expected that the featured products will be of excellent quality, are available, and fitting to the real and varied needs of the government. The push for digitalization has nowadays become more important given the government’s desire, for one, to realistically address the complex issues surrounding the Procurement Act which has long been due for review and needed amendments. In maximizing existing digital platforms, how do you improve the processes related to them to ensure that the output they generate is helpful and true to the objectives they seek to attain? Take just one example the Philippine Government Electronic Procurement System, the online system that the government is now using as a central portal for all procurement information and its activities. Must certainty of its processes remain or now be modified? The basic requirement for any business entity to be able to participate in the conduct of a government bidding is registration and membership with the PhilGEPS. In registering, all the necessary documents to qualify for membership are submitted, and once on-board the business entity is already presumed to have all its documents verified, approved, and in order. Or at least that is how it should be. So, it begs the question, “Why do you require these business entities, during actual bidding time, to submit their documents again? Will this not just lead to delays, excessive costs, and, worse, opportunities for corruption? Incidentally, when business entities encounter runaway costs, you can be sure that the ultimate party to suffer is the people. All that being said, it remains the duty of the government to ease doing business and fight graft and corruption. PBBM is keen on reducing the burden in certain, if not all, government transactions, and digitalization is one of the promising ways that can now be employed to successfully reach this goal. Digitalization will reduce human intervention, and this will in turn reduce errors and the chances of wrongdoing. Most of the negative comments surrounding elected officials are that they do not deliver the things they had promised during their campaign. It is indeed easy to forget once you have been sworn into office. However, PBBM has displayed consistency and dedication to the goals he mentioned when he took his oath. In this, he is not simply talking the talk; he is veritably walking the talk! The post Digitalization: Walking the talk appeared first on Daily Tribune......»»
Phl, Japan sign loan pact to finance MRT rehabilitation
In a significant move to enhance transportation infrastructure, the Department of Finance said the Philippines and Japan have inked a loan agreement worth JPY17.4 billion (approximately $130 million) to finance the comprehensive rehabilitation of the Metro Rail Transit Line 3. Finance Secretary Benjamin Diokno and Sakamoto Takema, the Chief Representative of the Japan International Cooperation Agency in the Philippines signed the agreement on Friday. Originally approved by the National Economic and Development Authority Board on August 22, 2018, the project seeks to address the ongoing challenges faced by the MRT 3. Under the rehabilitation plan, provisions for capacity expansion include upgrading the rolling stock, rail tracks, signaling system, power supply system, overhead catenary system, communications system, and depot and station equipment. The additional scope of work submitted by the Department of Transportation led to an increase in the total project cost to P29.6 billion, prompting the approval of the JPY17.4 billion (approximately US$130 million) supplemental loan by the NEDA Board on 2 February 2023. With the loan agreement signed, Japan's total loan net commitment now stands at around US$10.3 billion, reflecting a total ODA commitment of $10.5 billion. In the first quarter of 2023, JICA already signed two loans totaling JPY377 billion ($2.8 billion) for critical projects such as the North-South Commuter Railway Project (Phase I) (II) and the NSCR Extension Project (II). The ceremonial signing of the loan agreement was witnessed by DOTr Undersecretary Reinier Paul Yebra, Assistant Secretary Jorjette B. Aquino, Chargé d'Affaires ad interim of the Embassy of Japan to the Philippines Matsuda Kenichi, and Economic Minister Nihei Daisuke. The post Phl, Japan sign loan pact to finance MRT rehabilitation appeared first on Daily Tribune......»»
Angkas Digital-first business
Digital transformation is reshaping how we live and do business, accelerating over the past few years as we now have more access to digital technology than ever before. But as the digital lifestyle is adopted by society, our use of these digital tools must evolve to allow us to serve our customers better. George Royeca, president and founder of the ride-hailing application, Angkas, believes digital technologies are digital tools that allow small and medium enterprises to expand their market base with minimal costs in the shortest possible time. “We have not reinvented the wheel,” Royeca said at the maiden offering of the Asian Innovation Forum organized by the Daily Tribune at the Bellevue Hotel. “The ‘habal-habal’ operation has always been there across the country, and we just institutionalized its operation by adding digital technology into it.” Royeca added that digital technologies are just tools “to be exploited” by SMEs to upscale their operations or enhance business models. Eventually, they graduate from small operations into a big conglomerate. According to Royeca, digital technologies allow businesses to study available data and use them to understand the needs of the public through data analysis and expand their customer base. [caption id="attachment_132010" align="aligncenter" width="2560"] George Royeca, Angkas president and CEO as he amuses more than 180 micro, small and medium enterprises during the Daily Tribune’s Asian Innovation Forum last 9 May 2023 under the topic “Role of Logistics in Managing Supply Chain, Upscaling Operation.”[/caption] “To have a permanent customer base is one of the most critical tools to increase your business profits,” he said. “We are originally an MSME (micro, small and medium enterprise) who scaled up and now have eight million downloads from customers and more than 30,000 riders after six years of hardships,” Royeca said. Bumpy road During his talk, Royeca recalled how his enterprise stumbled and suffered a huge blow when the Supreme Court came out with a decision halting Angkas operations in 2017 based on a complaint filed by the Land Transportation Franchising and Regulatory Board and the Department of Transportation accusing Angkas of operating without a business permit. “But I accepted it even though it hurt me, as that was the fourth time Angkas operations were stopped. I felt like giving up at the time, as the SC had already decided our fate. I even asked my wife, is it time to pack up, return to Singapore, and do something else? But I just considered it a great challenge and a story of resilience and perseverance that I wanted to impart to startups,” he said. Royeca was astounded by the support of his thousands of bikers who picketed on EDSA back then, as well as the help of the passengers through social media, standing up and fighting for the right of the unrecognized transportation industry of “habal-habal.” A preliminary injunction granted on 20 August 2018 by the Mandaluyong Regional Trial Court preventing the government from apprehending Angkas riders and performing acts that would impede its business gave Angkas a ray of hope. “We now have a very friendly government and regulator who understand the importance of the informal sector. Now we are expanding nationwide, and you’ll see these job opportunities everywhere,” he told forum participants as he discussed the Role of Logistics in Managing Supply Chains and Upscaling Operations. Banking on technology As he believes in the supremacy of MSMEs, which comprise 99 percent of the country’s total entrepreneurial environment, Royeca said he wanted the government to recognize the informal sector that utilizes innovations and technology to become an integral part of society. “We existed because we collaborated with the government, as we did not coin “habal-habal” and the motorcycle taxis. It was already there, thousands, even millions, throughout the country. We only used the technology and digitization to produce a ride-hailing app as a tool to revolutionize the transportation industry and mobility,” he said. Despite this, Royeca maintained that Angkas has a long way to go, comparing its 30,000 riders to the 18 million motorcycle owners in the country today. “We are successful because we built a community, looked at individuals’ circumstances, and used technology to uplift their lives. It’s not about the technology but the human behind that technology. If we can impart success to 30,000 riders, then we can do it to 18 million motorcycle riders to get them out of poverty in our lifetime,” he added. With regard to MSMEs pivoting on technology, he said entrepreneurs should take advantage of the available tools and information right at their fingertips, such as their mobile phones and the internet, to harness their businesses and services. “Startups can even create a new ecosystem using various partnerships. You can partner with the brightest and best people out there to offer good services to everyone,” he said. Royeca envisions SMEs and Angkas collaborating to bridge the digital divide between big and small businesses and ultimately level the playing field for all stakeholders. He believes even a startup business operating a single motorbike for Angkas could become a fleet operation with proper mentoring and partnership with Angkas. The possibilities in adopting digital tools are immense, Royeca said and added the potential to manage risk, improve customer engagement, and reduce cost while increasing productivity and bringing brand recognition is endless. “SMEs must be willing to invest their time in training themselves to understand these technologies, including digital infrastructures, to harness the advantages their offer. By taking risks with digitalization, SMEs could significantly improve their competitive advance in the marketplace and accelerate their expansion,” Royeca said. “It is time for SMEs to fully embrace the future and reach new heights with digital tools. Digital-first business is the way to go,” he added. [caption id="attachment_132009" align="aligncenter" width="2400"] (From left to right) Daily Tribune managing editor Dinah Ventura, Angkas president and CEO George Royeca, UnionBank’s Chief Data and AI officer, Dr. David Hardoon, Daily Tribune president Willie Fernandez, Daily Tribune executive vice president Bettina Fernandez, Intellectual Property Office of the Philippines general manager, Atty. Rowel Barba and Frederick Imson of the Philippine Charity Sweepstakes Office.[/caption] Daily Tribune’s Asian Innovation Forum is a convergence of stakeholders to help improve small businesses, introduce new ideas, open dialogues, and foster cooperation, ultimately ensuring greater access and inclusion in the financial technology sector and for Filipino entrepreneurs to gain a foothold in the broader market. The post Angkas Digital-first business appeared first on Daily Tribune......»»
PSE has until 2025 to spend money it raised in 2018
The PSE disclosed that its board of directors voted to approve an extension of the timeline for its disbursement of the P2.8 billion in net proceeds that it raised through a 2018 stock rights offering......»»
Lebanon court orders ex-car boss Ghosn out of Beirut home: official
A Lebanese judge has decided to evict former Nissan boss Carlos Ghosn from his luxury home, a judicial official said Saturday, four years after an investment firm accused him of "trespassing". Ghosn, who took up residency in the Beirut property after fleeing prosecution in Japan in 2019, appealed the ruling on Friday, the official added. A spokesperson for Ghosn confirmed he had appealed. Ghosn and his wife must "vacate the property... within a month", according to a copy of the decision seen by AFP and dated 16 October. The home with pink walls in the Lebanese capital's upscale Ashrafieh neighborhood is worth some $19 million and is registered to Lebanese company Phoinos Investment, the judicial official said, requesting anonymity as they were not authorized to speak to the media. Phoinos initiated the legal action in 2019 and has accused Ghosn of "trespassing on private property and living in the home without legal basis", the official added. According to the court document, Ghosn said the company was affiliated with Nissan and that "the property was purchased... for his residence, and there is a signed agreement with Nissan that grants him the right to reside" there. Ghosn occupied the home "according to a contractual relationship linking... Ghosn and Nissan", the decision said. However, the end of that relationship and the plaintiff's wish to retake the property invalidates "the legal basis" of his occupancy, it added. In a written statement to AFP, a Ghosn spokesperson said documents that had been unavailable for prior hearings in the cast would support his appeal. "He will now be able to present all the documents held up in Japan that he was unable to secure on time," the statement said. Ghosn, the former chairman and chief executive of the Renault-Nissan-Mitsubishi alliance, was arrested in Japan in November 2018 on suspicion of financial misconduct, before being sacked by Nissan's board in a unanimous decision. He jumped bail late the following year and made a dramatic escape from Japan hidden in an audio-equipment box, landing in Beirut, where he remains an international fugitive. Ghosn has always denied the charges against him, arguing they were cooked up by Nissan executives who opposed his attempts to more closely integrate the firm with French partner Renault. Japan and France have sought his arrest, but Lebanon does not extradite its citizens, and judicial authorities have slapped a travel ban on Ghosn, who holds Lebanese, French, and Brazilian nationality. The post Lebanon court orders ex-car boss Ghosn out of Beirut home: official appeared first on Daily Tribune......»»
SM’s Steven Tan named Winshang’s 2023 International Influential Person in Shopping Centers
SM Supermalls president Steven Tan was recognized as one of Winshang’s Golden Censer Prize winners for being "The International Influential Person of the Year 2023 in Shopping Centers" at the 2023 China (International) Shopping Center Summit in Shanghai on 24 August 2023. The Golden Censer Prize is a large-scale professional recognition of China's commercial real estate and famous brands initiated by Winshang, in collaboration with mainstream industrial media, based on field research, data analysis and media surveys, among others. Tan, who assumed the role of President of SM Supermalls in 2020, has been a key figure in the growth and innovation of the mall chain in the Philippines and China. As president, he oversees mall operations in both countries, carrying forward SM's 65-year legacy of retail innovation and outstanding customer service. SM Mall of Asia Complex Under his leadership, SM Supermalls withstood the challenges of the pandemic and rebounded as the economy slowly opened up amid the global health crisis. With the guidance of the Sy family, Tan made sure that SM responded with an agile, innovative and proactive approach to cater to the needs of all stakeholders, from employees and tenants to shoppers. SM City Yangzhou SM City Sto. Tomas The mall’s strategies -- adapting the tenancy mix, creating novel reasons to attract visitors to malls, targeting new customer segments through innovative marketing and developing omnichannel services -- enabled them to gain the trust and loyalty of modern shoppers during the pandemic. Because of this, SM managed to recover and exceed pre-pandemic revenues and income by 2023. In line with their latest expansion program, SM continues to open new malls in China and the Philippines. This brings the total number of shopping centers, locally and internationally, under Tan's stewardship to 93, featuring a cumulative construction area of over 10.8 million square meters and a daily foot traffic of more than 4.2 million. The latest malls to open were SM City Yangzhou last 28 September 2023 and SM City Sto Tomas, Batangas last 27 October 2023. Tan’s exceptional efforts were also honored by various international organizations over the years. He received numerous accolades including the 2021 Asia's Most Influential by Tatler Asia, the 2022 Asia Pacific Women's Empowerment Principles Awards Leadership Commitment by United Nations Women, and the Global Filipino Executive of the Year at the Asian Chief Executive Officer Awards, just to name a few. His dedication and visionary leadership continue to shape the landscape of shopping centers and commercial real estate, not just in Asia but also across the globe. Steven Tan receives the 2023 PeopleAsia People of the Year Award. Tan shared the Winshang Golden Censer Prize with his two co-awardees, namely Powerlong Real Estate Holding’s Co-president Chen Deli, and SCE Commercial Management Holdings' chairman of the board Huang Lun. SM Supermalls is a subsidiary of SM Prime Holdings Inc., with 85 malls in the Philippines and 8 in China. The post SM’s Steven Tan named Winshang’s 2023 International Influential Person in Shopping Centers appeared first on Daily Tribune......»»
BSP hikes rates6.5%, off-cycle
The Bangko Sentral ng Pilipinas on Thursday raised its policy rate on an off-cycle period to 6.5 percent from 6.25 percent to manage a likely inflation uptrend this year until July next year. The BSP has, thus far, raised its policy rate by 450 basis points after inflation peaked at 8.7 percent in January and re-accelerated again to 6.1 percent last month from 5.3 percent in August. The BSP move will increase borrowing costs, with new interest rates on the overnight deposit at 6 percent and lending facilities at 7 percent. BSP Governor Eli Remolona Jr. said the country’s inflation rate might settle at 4.7 percent next year, higher than the central bank’s previous target range of 2 percent to 4 percent for this year and 4.3 percent in the next. He added inflation might quicken further above 4.7 percent from July to March next year. “The balance of risks to the inflation outlook still leans significantly toward the upside, due mainly to the potential impact of higher transport charges, electricity rates, international oil prices, and minimum wage adjustments in areas outside the National Capital Region,” he explained. Limit spending With the higher interest rates, Remolona said consumers will likely limit their spending which will discourage businesses from raising prices. “The BSP’s Monetary Board recognized the need for this urgent monetary action to prevent supply-side price pressures from inducing additional second-round effects and further dislodging inflation expectations,” the BSP chief said. Remolona added the slow global economic recovery and effects of the weather disturbances from El Niño on food supply might also restrain consumption toward a moderated inflation. “Meanwhile, the effect of a weaker-than-expected global recovery as well as government measures to mitigate the effects of El Niño weather conditions could temper inflationary impulses,” he said. The BSP Monetary Board will again announce to the public on 16 November whether to change its policy rate in compliance with its normal cycle period happening every six weeks. However, Remolona already cautioned the public of likely controlled consumer spending in the medium term as the BSP expects to maintain high interest rates in the near future. Tighter settings “Looking ahead, the Monetary Board deems it necessary to keep monetary policy settings tighter for longer until inflationary expectations are better anchored and a sustained downward trend in inflation becomes evident,” he said. “We will consider another rate hike if things are worse than we thought,” Remolona continued. The BSP has raised its policy rate by 425 basis points after inflation peaked at 8.7 percent in January and re-accelerated again to 6.1 percent last month from 5.3 percent in August. The Philippine Statistics Authority attributed this to persisting higher food and fuel prices partly driven by global food trade restrictions and oil trade disruptions from the Russia-Ukraine war. Falls a little behind “In my view, I think we fell a little behind that’s the reason for this effort to catch up. We didn’t look closely enough at expectations,” Remolona said as he reflected on the BSP’s unchanged rate at its September 21 meeting. “One of them that was very striking was our consumer expectations survey which said about 92 percent think that in the next 12 months inflation will be above 4 percent, similar to expectations by firms,” the BSP chief continued. The post BSP hikes rates6.5%, off-cycle appeared first on Daily Tribune......»»
How nations allow or restrict legal gender change
A small number of countries have made it easier for transgender people to change their legal gender, while other nations have restricted such changes, notably Russia and Pakistan. Here is a snapshot of the situation around the world. Exception, not the rule According to the International Lesbian and Gay Association (ILGA), 24 UN member states have legally allowed people to change their gender on the basis of self-identification. In about 40 other countries, the legal and administrative process can take years and may include requirements such as psychiatric diagnosis, hormone treatment, gender confirmation surgery, or even sterilization. Making it easier Argentina has led the way on transgender rights, allowing a change of gender on national ID cards with a simple declaration since 2012. Several Latin American countries have followed suit. Denmark was the first European country in 2014 to allow adults to apply for a gender change without undergoing medical or psychological assessments, with Belgium, Ireland, Malta, Norway, Portugal, and most recently Spain following suit. Since 2017, France has allowed transgender people to change their status on their ID documents without treatment, surgery, or sterilization but they must receive court approval. The issue of trans rights sparked a fierce row in 2022 in Scotland, where parliament passed a bill making it easier for people to self-identify their gender that was sensationally vetoed by London. The German cabinet in August 2023 signed off plans under which Germans will be able to change their name or legal gender by making a simple application to their local registry office. The law still has to go to parliament. Hesitating Sweden, one of the world's most liberal countries, was the first in the world to authorize physical and legal gender reassignment for adults in 1972. But last year it began restricting hormone therapy available for children diagnosed with gender dysphoria, such as puberty blockers, citing the need for caution following a strong increase in demand. It also restricted access to mastectomies for teenage girls wanting to transition. Finland in 2020 had already restricted hormone treatment for minors. Making it harder Russia adopted new legislation in July 2023 banning "medical interventions aimed at changing the sex of a person" and "the state registration of a change of gender without an operation". President Vladimir Putin has repeatedly railed against transgender rights in his speeches. Pakistan's religious judiciary ruled in May that landmark transgender legal protections from 2018 are un-Islamic and therefore void. An appeal is being sought with the Supreme Court. Pakistan continues to recognize the existence of a third gender, neither masculine nor feminine, as do India and Nepal. Restricting gender-affirming treatment, such as puberty blockers for minors, has become a major campaign of US conservatives. Arkansas in 2021 became the first US state to ban physicians and health workers from offering transition-related treatment to transgender minors. A federal judge in June overturned the ban. Around 20 states, including Florida and Texas, have passed similar laws. Anti-LGBTQ sentiment in Hungary has escalated during the rule of Viktor Orban's right-wing government. In May 2020, the country passed a law making it impossible for transgender people to change their name and gender on their ID documents. The post How nations allow or restrict legal gender change appeared first on Daily Tribune......»»
PEZA chief understands investors’ dilemma
The director general of the Philippine Economic Zone Authority said he understands the clamor of investors with regard to tax perks and incentives, which is why it’s only right that the government has finally decided to amend the implementing rules and regulations of Republic Act No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. During discussions at the Rotary Club of Manila membership meeting last 5 October 2023, a member of the Club who is an investor in various sectors locally said the current policies of the government in terms of tax perks were unpredictable because of the “tug of war” between the investment promotion agencies, that is, PEZA and the Board of Investments, which are both under the watch of the Department of Trade and Industry, and the Fiscal Incentives Review Board, chaired by Finance Secretary Benjamin Diokno. Last among five countries He said that explains why the Philippines is the last among five countries considered by investors as investment destinations in Southeast Asia, with investments now being dominated by Vietnam, followed by Singapore, Malaysia and Cambodia. The Rotarian said in terms of exports, the Philippines is also a laggard compared to the performance of the country’s Southeast Asian counterparts. Total Philippine exports dropped to $6.1 billion in July 2023, from $6.7 billion in the previous month. In comparison, Vietnam in August 2023 enjoyed $32.8 billion in exports. Most attractive destination Vietnam is now considered Southeast Asia’s most attractive destination for foreign investors because of its favorable business environment, steady economic growth, improved infrastructure and pro-foreign investment policy changes. According to Standard Chartered Bank, Vietnam’s advantages to being the top tourist destination are in terms of labor, global trade integration, supply chains, political stability, and potential resources, with the government committed to promoting trade and sustainable growth. Unclear policies Another issue that was being questioned by some investors, according to the Rotarian, is the realization of the Fourth Industrial Revolution which also doesn’t have clear policies for renewable energy, data centers, information technology and artificial intelligence. “We have yet to see concrete policy formulation and a roadmap to that effect, compared to the recent pronouncement of US President Joe Biden that Vietnam is positioned as the future chipmaker. The United States is currently legislating measures to dispense funds for that purpose. There seems to be a disconnect,” the investor said. Regarding this, PEZA’s Panga admitted that there were indeed ‘differences’ in terms of policies among government agencies, particularly the DTI and the FIRB. Still, Panga sought the support of the oldest and first Rotary Club in Asia where it concerns PEZA’s job to further attract foreign direct investments into the country. Panga emphasized that a whole government, industry, and society approach is needed to improve and lessen the cost of doing business. Eco-zoning push “Through our collaborations and strategic alliances, PEZA, together with the Rotary Club of Manila, other ecozone industries, and stakeholders, will continue to push for eco-zoning the Philippines towards inclusive and sustainable development,” he added. Last August 2023, Finance Secretary Diokno and Trade and Industry Secretary Pascual approved the amendment to the IRR of the CREATE Act that will resolve the value-added tax issues raised by transitory registered business enterprises. The post PEZA chief understands investors’ dilemma appeared first on Daily Tribune......»»
PEZA chief understands Rotarian investors’ dilemma
The director general of the Philippine Economic Zone Authority said he understands the clamor of investors with regard to tax perks and incentives, which is why it’s only right that the government has finally decided to amend the implementing rules and regulations of Republic Act No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises Act. During discussions at the Rotary Club of Manila Membership Meeting on Thursday, a Rotarian who has invested in the country said the current policies of the government in terms of tax perks remain unpredictable because of the ‘tug of war’ between the investment promotion agencies, namely PEZA and the Board of Investments, which are all under the watch of the Department of Trade and Industry, with the Fiscal Incentives Review Board, chaired by Finance Secretary Benjamin Diokno. He said that the reason why the Philippines is the last among the top five countries considered as top investment countries in Southeast Asia, which is now being dominated by Vietnam, followed by Singapore, Malaysia, and Cambodia. He said in terms of exports, the Philippines is also a laggard compared to the performance of Southeast Asian counterparts. The Philippines' total exports plummeted to $6.1 billion in July 2023, compared with $6.7 billion in the previous month. Its tough competitor, Vietnam, this August 2023 is enjoying $32.8 billion in exports. Vietnam is now considered Southeast Asia’s most attractive destination for foreign investors because of its favorable business environment, steady economic growth, improved infrastructure, and policy changes. According to Standard Chartered, Vietnam’s advantages to being the top tourist destination are in terms of labor, global trade integration, supply chains, political stability, and potential resources, with the government committed to promoting trade and sustainable growth. Unclear policies Another issue that was being questioned by some investors, according to the Rotarian, is the realization of the Fourth Industrial Revolution which doesn’t have clear policies for renewable energy, data centers, information technology, and artificial intelligence. “We have yet to see concrete policy formulation and roadmap to that effect. Compared to the recent pronouncement of US President Joe Biden Vietnam will be positioned as the future chipmaker, and the US is now legislating measures to dispense funds for that purpose. There seems to be a disconnect,” the investor said. With this, PEZA’s Panga admitted that there are indeed ‘differences’ with government agencies, particularly the DTI and the FIRB, but also sought the support of the club in PEZA’s job to further attract foreign direct investments into the country. Panga further emphasized that a whole government, industry, and society approach is needed to improve the ease and lessen the cost of doing business. "Through our collaborations and strategic alliances, PEZA, together with the Rotary Club of Manila, other ecozone industries, and stakeholders, will continue to push for eco-zoning the Philippines towards inclusive and sustainable development," he added. Last August, Finance Secretary Diokno and Trade and Industry Secretary Pascual approved the amendment to the IRR of the Act that will resolve the value-added tax issues raised by transitory registered business enterprises. The post PEZA chief understands Rotarian investors’ dilemma appeared first on Daily Tribune......»»
Musk’s X strips headlines from news links
Elon Musk's social media platform X has stripped headlines from news articles shared by users, in a move likely to further worsen relations with media groups. The tycoon has long railed against the "legacy media" and claims X, formerly Twitter, is a better source of information. However, he said the latest change was for "aesthetic" reasons -- news and other links now appear only as pictures with no accompanying text. Musk took over Twitter last year in a $44 billion deal and has since renamed it X, sacked thousands of staff and drawn criticism for allowing banned conspiracy theorists and extremists back on the platform, sending advertisers fleeing. He has also banned -- and reinstated -- various journalists with mainstream outlets including the Washington Post and CNN, as well as appearing to delay posts from accounts including the New York Times. "I almost never read legacy news anymore," Musk posted on Tuesday. "What's the point of reading 1,000 words about something that was already posted on X several days ago?" Souring relations Some media groups have stopped posting to X altogether because of the rise in hate speech and the behavior of Musk. AFP and other French news outlets launched a legal case in early August accusing X of copyright breaches. When the changes to links were first mooted in August, Musk posted: "This is coming from me directly. Will greatly improve the esthetics." The changes appear to have been introduced gradually this week. Instead of seeing a headline along with a picture, users now see only a picture with a small watermark. The changes brought a good deal of criticism, journalist Tom Warren of The Verge website posting on X: "It's the latest in a long line of dumb changes on this platform." Some users have already commented that it is now difficult to distinguish between news and other kinds of information, which is likely to raise questions about the trustworthiness of the site. In September, the European Commission said X had a higher ratio of misinformation and disinformation than any other social media. The souring relationship between media and tech companies is not limited to X. Both Google and Meta have pushed back against laws forcing them to pay media companies to show stories. The changes are having a real-world effect, with Axios news site reporting on Tuesday that referrals to media websites from X and Meta's Facebook had collapsed in the past three years. Ads 'decimated' Musk said in July the platform had lost roughly half its advertising revenue, though a month earlier he had claimed that almost all advertisers had returned and that 90 percent of bots had been removed. According to a Media Matters report released Wednesday, most of the top 100 advertisers at Twitter in the weeks prior to Musk's takeover are spending dramatically less at the platform. "Media Matters found that the company's ad revenue is still decimated," the report stated. Since Musk purchased the company, it has earned 42 percent less ad revenue than before his tenure, according to Media Matters. Market tracker Insider Intelligence estimates that X's share of the worldwide digital ad market has fallen nearly 28 percent to about a half a percent in the past year. Musk has suggested charging all users of X, which would be the biggest shake-up since he took over the site, but experts say he might struggle to get most users on board. The post Musk’s X strips headlines from news links appeared first on Daily Tribune......»»
Asian markets fall on rate fears as bond yields rise
Asian markets fell across the board Wednesday following Wall Street's lead after robust US employment data and rising Treasury yields exacerbated fears that interest rates will be higher for longer. The labor report, known as JOLTS, showed a surprise increase in the number of job openings to 9.6 million, a sign of continued tightness in the market and fuelling worries of a further rate hike by the Federal Reserve before year's end. The report comes ahead of Friday's highly anticipated September US employment report. Following the JOLTS report, 10-year US Treasury note yields climbed to levels last seen in 2007. Treasury bond yields are seen as a proxy for US interest rates and are closely watched. All three major US indices closed in the red, falling by more than one percent. "Stock market investors were sent reeling after US job openings unexpectedly rebounded in August, adding to concerns that the Federal Reserve could hike rates in November but unquestionably maintain elevated borrowing costs for an extended duration," said SPI Asset Management's Stephen Innes. Tokyo and Seoul, which resumed trade after a long holiday weekend, led the Asian selloff Wednesday, both falling around two percent, while Hong Kong, Taipei, Jakarta, Singapore, Sydney, and Wellington were all sharply lower in a sea of red. Markets in mainland China were closed for a week-long holiday. "It is difficult (for investors) to move towards bargain-hunting as yields in US Treasury notes keep climbing," analyst Shutaro Yasuda of Tokai Tokyo Research Institute said. On forex markets the yen was trading at 149.28 to the dollar after hitting 150.16 in London on Tuesday, its weakest level in a year. Japan's top finance officials declined to comment Wednesday on whether Tokyo had intervened to support the yen after it had breached the psychological 150 level. In recent months, the yen has plummeted against the dollar in part because of the widening gap in interest rates set by the Bank of Japan and the US Federal Reserve. The post Asian markets fall on rate fears as bond yields rise appeared first on Daily Tribune......»»
Aboitiz Group bags triple Golden Arrow Awards
With a distinguished legacy spanning five generations, the Aboitiz Group remains steadfast in its commitment to fostering positive change in shaping the future as it adheres to the standards and requirements outlined in the ASEAN Corporate Governance Scorecard. This year, following the 2022 compliance period of the ACGS, Aboitiz Equity Ventures Inc. received a 4-arrow recognition after scoring 111.68 points, AEV’s highest ACGS score since the Institute of Corporate Directors inaugurated the Golden Arrow Awards in 2018. Aboitiz Power Corporation and Union Bank of the Philippines both received a 3-arrow recognition for scoring between 100 and 109 points. Consistent top performers It’s also important to note that AEV and AboitizPower have consistently been recognized as top performers in corporate governance, both here in the country and in the ASEAN region since 2013-2017 at the PSE Bell Awards. “This distinction is the result of the Aboitiz Group’s work to transform a legacy business into a hyper-innovative, diversified conglomerate that puts corporate governance and citizenship at the core of its operations. We have always believed that transparency and accountability are essential in building trust amongst our stakeholders and forging strong partnerships in order to drive change,” said Ginggay Hontiveros-Malvar, Aboitiz Group’s chief reputation and sustainability officer. AEV, the portfolio management company of the Aboitiz Group, leads investments in diverse sectors including power, banking and financial services, food, infrastructure, land, and cutting-edge fields such as data science and artificial intelligence. The Group is presently undergoing a profound transformation to establish itself as the Philippines' first "techglomerate." This innovative growth strategy, fueled by technology and a renewed entrepreneurial mindset, empowers Aboitiz to drive transformative change, shaping the future of its businesses, host communities, and the nation. The Golden Arrow Recognition serves as a testament to Aboitiz Group's unwavering commitment to upholding the highest standards of corporate governance. Aboitiz has excelled in several key areas such as compliance, sustainability, and innovation — positioning it as a frontrunner in the realm of corporate governance. This honor reflects the Group's ongoing commitment to creating value for its shareholders, stakeholders, and the broader Filipino community. Robust policies Aboitiz Group’s robust policies and procedures across every level of the organization form the bedrock of its commitment to excellence in corporate governance. Furthermore, the company's board of directors is characterized by its independence and diversity, playing a pivotal role in providing oversight and making strategic decisions aligned with the best interests of shareholders and stakeholders. Aboitiz places great emphasis on transparency, providing clear and comprehensive information regarding its financial performance, operations, and decision-making processes to ensure that shareholders and the public remain well-informed. In terms of regulatory compliance, Aboitiz is dedicated to adhering to all relevant laws, regulations, and standards related to corporate governance. The company continuously updates its policies to ensure alignment with evolving requirements. When it comes to ethical business practices, the Group's commitment to ethical conduct and integrity remains unwavering. “This award reaffirms the team’s adherence to the shared responsibility of sustainably managing the organization. This further motivates us to champion the highest corporate governance and ethical standards as we continue to grow the business,” said AboitizPower president and chief executive officer Emmanuel Rubio. “Likewise, we also exert as much effort and diligence in upholding environmental preservation and the societal good within the areas we have the privilege to serve,” he said. Corporate governance For his part, UnionBank lead independent director Roberto Manabat said, “We humbly accept this recognition as a reinforcement of the principles that guide the Bank. Our corporate governance practices reinforce the requirements of a constantly evolving business landscape. We ensure that they comply with new regulations and are ready to adopt best practices.” Aboitiz is deeply committed to sustainability and corporate social responsibility initiatives. The post Aboitiz Group bags triple Golden Arrow Awards appeared first on Daily Tribune......»»
Linking Fatima-Mediatrix to Russia-Ukraine
(Author’s Note: The Marian messages quoted here are not necessarily authenticated by the Catholic Church.) There was a report years ago from a Mediatrix devotee, who requested anonymity that Our Lady of Fatima healed the aunt of Vladimir Putin and Putin himself. No details were given. The devotee said he visited Putin several times. This report by a Mediatrix devotee links Lipa and Lisbon to Russia and Ukraine. Lipa and Lisbon were linked after Fatima’s Miracle of the Sun was repeated in a Mediatrix shrine in Mindanao on the 100th anniversary of Fatima, precisely to the hour. As a child, Putin was secretly baptized into the Orthodox Church because the Communist Party banned it. The Christian in Putin may be the potential key to ending the war in Ukraine. In 1960, Pope John XXIII unsealed the Third Secret of Fatima in the presence of Cardinal Augustin Bea and his secretary, Fr. Malachi Martin. In an interview at the Art Bell Show USA in 1997, Fr. Martin hinted that, based on the Third Secret, the solution to the world’s ills would come from Ukraine and Russia. The conversion of Russia Our Lady of Fatima revealed that the triumph of her Immaculate Heart would come from the conversion of Russia. St. Pope John Paul II soon consecrated Russia to her Immaculate Heart. Vatican Mariologists attributed the consecration to the ensuing momentary era of world peace, a “Marian intervention.” In 1994, Mikhail Gorbachev visited St. Pope John Paul II, the first visit in history by the Kremlin to the Papacy. Gorbachev instituted Perestroika (reconciliation) and Glasnost (openness), leading to the opening of Christian churches inside Russia. Immediately, Ukraine announced the legalization of the Ukrainian Church (about 70 percent Orthodox), which was brutally disbanded by Joseph Stalin in 1946. The Berlin Wall then crumbled, leading to the reunification of Germany and the end of the Cold War. Gorbachev’s reforms led to the fall of the USSR. Among its former satellites were Ukraine and Belarus, now arch-enemies in the war in Ukraine. Marian’s intimacy with Ukraine On 22 January 2022, during a Ukrainian Orthodox celebration in an unspecified town, a white dove descended on top of the altar painting of the Baptism of Jesus, a warning perhaps of a Russian invasion, which happened a few days later. Ukraine was the first nation to be consecrated to the Blessed Virgin in 1037. In 1914, two weeks before World War I, the Virgin told 22 field workers near the Church of the Holy Trinity in the village of Hrushiv: “There will be a war. Russia will become a godless country. As a nation, Ukraine will suffer terribly for eighty years — and will have to live through the world wars, but it will be free afterwards.” The prophecy was fulfilled. In 1987, a year after the Chernobyl tragedy, in the same church in Hrushiv, the Virgin told 12-year-old visionary Marina Kizyn: “Do not forget those who have died. Chernobyl is a reminder and a sign that …. THROUGH THE BLOOD OF (UKRAINIAN) MARTYRS WILL COME THE CONVERSION OF RUSSIA.” A bright light filled the church where the Virgin appeared. There were daily apparitions until 15 August, the Feast of the Assumption, which attracted about 500,000 people in total. Many witnessed the apparitions. Hrushiv became an instant pilgrim center. The Virgin of Hrushiv became Our Lady of Ukraine. Our Lady appeared to KGB agents trying to manage the huge crowds. At that time, churches were closed, and Christianity was banned. Priests from the “underground Church” emerged from hiding and defied the KGB, saying ten Holy Masses daily outside the church. The KGB did not touch them. Hrushiv was saved from a deadly cholera epidemic in 1855, with not a single death in the village, after the people offered Mass at a spring that suddenly came out of the ground. The Virgin demonstrated her love for the Ukrainian people when she said: “I have come on purpose to thank the Ukrainian people because you have suffered the most for the Church of Christ in the last 70 years. I have come to comfort you and tell you that your suffering will soon end. Ukraine will become an independent state.” (Source: oclarim.com.mo, 6 July 2018) Does Putin have a role in the “conversion” of Russia and the end of the war in Ukraine? Will peace be attained through the blood of Ukrainians as martyrs? These remain to be seen. eastwindreplyctr@gmail.com The post Linking Fatima-Mediatrix to Russia-Ukraine appeared first on Daily Tribune......»»
Aboitiz Group bags triple Golden Arrow Awards
With a distinguished legacy spanning five generations, the Aboitiz Group remains steadfast in its commitment to fostering positive change in shaping the future as it adheres to the standards and requirements outlined in the ASEAN Corporate Governance Scorecard. This year, following the 2022 compliance period of the ACGS, Aboitiz Equity Ventures, Inc. received a 4-arrow recognition after scoring 111.68 points, AEV’s highest ACGS score since the Institute of Corporate Directors inaugurated the Golden Arrow Awards in 2018. Aboitiz Power Corporation and Union Bank of the Philippines both received a 3-arrow recognition for scoring between 100 and 109 points. AEV and AboitizPower have consistently been recognized as top performers in corporate governance, both here in the country and in the ASEAN region since 2013-2017 at the PSE Bell Awards. “This distinction is the result of the Aboitiz Group’s work to transform a legacy business into a hyper-innovative, diversified conglomerate that puts corporate governance and citizenship at the core of its operations. We have always believed that transparency and accountability are essential in building trust amongst our stakeholders and forging strong partnerships in order to drive change,” said Ginggay Hontiveros-Malvar, Aboitiz Group’s chief reputation and sustainability officer. AEV, the portfolio management company of the Aboitiz Group, leads investments in diverse sectors including power, banking and financial services, food, infrastructure, land and cutting-edge fields such as data science and artificial intelligence. The Group is presently undergoing a profound transformation to establish itself as the Philippines' first "techglomerate." This innovative growth strategy, fueled by technology and a renewed entrepreneurial mindset, empowers Aboitiz to drive transformative change, shaping the future of its businesses, host communities and the nation. The Golden Arrow Recognition serves as a testament to Aboitiz Group's unwavering commitment to upholding the highest standards of corporate governance. Aboitiz has excelled in several key areas such as compliance, sustainability, and innovation – positioning it as a frontrunner in the realm of corporate governance. This honor reflects the Group's ongoing commitment to creating value for its shareholders, stakeholders, and the broader Filipino community. Aboitiz Group’s robust policies and procedures across every level of the organization form the bedrock of its commitment to excellence in corporate governance. Furthermore, the company's board of directors is characterized by its independence and diversity, playing a pivotal role in providing oversight and making strategic decisions aligned with the best interests of shareholders and stakeholders. Aboitiz places great emphasis on transparency, providing clear and comprehensive information regarding its financial performance, operations, and decision-making processes to ensure that shareholders and the public remain well-informed. In terms of regulatory compliance, Aboitiz is dedicated to adhering to all relevant laws, regulations, and standards related to corporate governance. The company continuously updates its policies to ensure alignment with evolving requirements. When it comes to ethical business practices, the Group's commitment to ethical conduct and integrity remains unwavering. The company adheres to a stringent code of conduct that guides the behavior of its employees, fostering an environment of trust and integrity. “This award reaffirms the team’s adherence to the shared responsibility of sustainably managing the organization. This further motivates us to champion the highest corporate governance and ethical standards as we continue to grow the business,” said AboitizPower president and chief executive officer Emmanuel Rubio. “Likewise, we also exert as much effort and diligence in upholding environmental preservation and the societal good within the areas we have the privilege to serve.” “We humbly accept this recognition as a reinforcement of the principles that guide the Bank. Our corporate governance practices reinforce the requirements of a constantly evolving business landscape. We ensure that they comply with new regulations and are ready to adopt best practices,” said UnionBank lead independent director Roberto Manabat. Aboitiz is deeply committed to sustainability and corporate social responsibility initiatives. The company actively pursues environmental and social responsibility, demonstrating its dedication to creating a positive impact on society and the environment. The post Aboitiz Group bags triple Golden Arrow Awards appeared first on Daily Tribune......»»
8 firms in Makati, 8 in Parañaque deliquents SSS contributors
The Social Security System on Friday announced that eight firms in Makati City and another eight in Parañaque City were cited as deliquents employers for failing to pay their employees' contributions. The citations came from SSS continued Run After Contribution Evaders (RACE) campaign, running against employers who failed to remit monthly contributions of their employees. The Makati-JP Rizal branch has served Notice of Violations to eight deliquents employers in Barangay Tejeros, who incurred a total of P5.25 million delinquencies consisting of P2.86 million of unpaid contributions and P2.4 million of penalties which affects the social security coverage of 105 employees. The employers include two industrial suppliers, a bakery owner, real estate agent, a private hospital, pharmacy, photograph production and a chemical distributor. Among the eight delinquent employers cited for non-remittance of monthly contributions, one of the two industrial equipment suppliers topped the contribution delinquency of P2.41 million broken down into P1.58 million unpaid workers' contributions and over P832,000 penalties for it's 46 employees from April 2022 to August 2023. In Parañaque, the SSS Bicutan-Sun Valley NCR South Division has served notice of violations to eight delinquent employers in Sun Valley and Merville where a total of P1.70 million consisting of P717,000 unpaid contributions and P983,000 in penalties were incurred by the erring employers that include a whole-saler of food and beverages, manufacturer, seller in non-specialized stores, laundry services, food services activities, retail seller of construction materials, salon owner, and manufacturer of miscellaneous articles. Their delinquency has affected 82 employees. The Run After Contribution Evades (RACE) campaign is an activity conducted by SSS to ensure that employers are complying with their obligations as stipulated in Republic Act NO. 11199 or the Social Security Act of 2018. The post 8 firms in Makati, 8 in Parañaque deliquents SSS contributors appeared first on Daily Tribune......»»
Joey de Leon’s ‘lubid’ comment entangles ‘E.A.T’, show apologizes to MTRCB
[Trigger warning: Mention of suicide] The management of the noontime show E.A.T has apologized over main host controversial Joey De Leon’s “lubid” (rope) punchline during the show’s Gimme5 segment on 23 September. The game segment required participants to name five things in a given category. During the weekend episode, the category was things that could be worn around the neck. The participant only had necklace as an answer. But De Leon chimed in and said, “Lubid, lubid, nakakalimutan niyo. Lubid (Rope, rope, you forgot. Rope).” De Leon’s grisly remark immediately drew flak on social media, with netizens calling him out for his insensitivity and how it would’ve triggered some viewers going through difficult times. On 27 September, at the Senate finance subcommittee hearing led by Senator Jinggoy Estrada that was discussing the proposed 2024 budget of the Movie and Television Review and Classification Board, MTRCB chairperson Diorella “Lala” Sotto-Antonio informed the panel that the producers had “voluntarily” submitted an apology letter to the board after the episode. Lawyer Paul Cases, the chairperson of the MTRCB adjudication board, confirmed that the producers have submitted an apology letter. “We issued a notice of appearance and they did actually apologize for the statement and they submitted a position paper as well. It is now subject to a resolution, the case is pending,” Cases said. In the letter, Jeny Ferrer. E.A.T’s head of creatives and production operations, explained what happened during the show’s now-infamous segment. De Leon’s statement, Ferre said, was conveyed “verbally in a very brief manner without further actions, elaborations or demonstrations. However, some viewers interpreted the utterance of the said object to be an insinuation of suicide, which is a very sensitive and triggering subject.” “In this regard, the whole E.A.T management is regretful and apologetic to those who were offended by the said utterance. Rest assured that we are one with MTRCB in advocating a responsible viewing experience for the public,” Ferre added. This is not the first time E.A.T. has gotten entangled in controversy since its debut in July. On 11 August, the MTRCB summoned Wally Bayola, one of the show’s hosts, for uttering profanity during the Sugod Bahay Mga Kapatid segment the previous day. Bayola immediately apologized on the day the MTRCB called out the show. The MTRCB said it is currently reviewing complaints made against the show. The post Joey de Leon’s ‘lubid’ comment entangles ‘E.A.T’, show apologizes to MTRCB appeared first on Daily Tribune......»»
Pag-IBIG members’ record-high savings up 11% to P59.52B
Pag-IBIG Fund members collectively saved P59.52 billion in January to August this year, growing 11.45 percent year-on-year and setting a new record for the highest amount saved by members for any January to August period. “We are happy to see that more Filipino workers recognize the importance of saving and are choosing to save with Pag-IBIG Fund. The record high in Pag-IBIG members’ savings collected from January to August 2023 shows their continuing trust and confidence in us and in our programs,” said Secretary Jose Rizalino L. Acuzar, who leads the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees. Good news “This is good news because as our collection increases, the more funds we are able to utilize for the benefit of our members who seek to apply for home loans and short-term loans. All these are in line with the directive of President Ferdinand Marcos Jr. to improve the Filipino workers’ access to finance,” he continued. Meanwhile Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta noted that the growth in members’ savings collected were seen in both the agency’s mandatory Regular Savings and its voluntary MP2 Savings. Collections for the Pag-IBIG Regular Savings reached P28.03 billion, a seven percent increase from the P26.16 billion collected during the same period in 2022. Popular MP2 savings On the other hand, the agency’s popular MP2 Savings reached P31.50 billion, a 16 percent increase from the P27.25 billion collected in January to August last year. In 2022, the Pag-IBIG Regular Savings earned an annual dividend rate of 6.53 percent, while the MP2 Savings posted an annual return rate of 7.03 percent. “The continued growth of our members’ savings is truly remarkable. We are grateful to the business community for responsibly remitting the Pag-IBIG contributions of their employees and their counterpart share on time. We are also thankful to our members for their trust in saving with Pag-IBIG — by saving more than the required P100 monthly contribution under the Pag-IBIG Regular Savings, and by continuing to save in our MP2 Savings,” Acosta said. “This trust is clearly displayed by the amount voluntarily saved by our members, which has in fact surpassed the amount of mandatory savings we have collected. That is why we remain steadfast in our commitment to prudently and excellently manage each and every hard-earned peso that our members have entrusted us, and provide their savings with the best possible returns,“ she said. The post Pag-IBIG members’ record-high savings up 11% to P59.52B appeared first on Daily Tribune......»»