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Domestic aviation rebounds this year
The local aviation industry, which was badly hit by the global health crisis, is seen to achieve full recovery this year. This was according to the International Air Transport Association in a recent forum organized by the European Chamber of Commerce of the Philippines. During the Aviation Forum last week, Yuli Thompson, area manager for the IATA in Southeast Asia, said the Philippines and the rest of the Asia Pacific region’s aviation market is swiftly recovering and seeing a consistent rise in terms of growth in international and domestic travel. Thompson said passenger traffic trends for international flights in the Philippines were logged at 75 percent of 2019 levels as of June 2023. As for the Asia Pacific passenger forecast, Yuli maintained that domestic travel will fully recover in 2023, while international travel will occur sometime in 2026. Further, Asia Pacific will be seen to lead in traffic growth in the next 20 years. “However, overcoming current challenges riding on the current momentum, and meeting full recovery will require strong interventions from all players in the aviation sector,” he said. Infra investments For his part, Cebu Pacific Air chief executive officer Michael Szucs emphasized the need to invest in infrastructure, citing that “Philippine carriers will need to quadruple in size to cater to growing demand.” In her keynote speech, Secretary Grace Poe urged stakeholders to support necessary infrastructure investments, especially following the air system glitch incident earlier this year. The senator called for the acquisition of a new Communication, Navigation, and Surveillance/Air Traffic Management. Poe also recommended the hiring of a third-party maintenance provider for the CNS/ATM system. “It is my hope that the government, the private sector, and other stakeholders can work together and collaborate on air transport projects which will not only generate economic growth but also provide our people with excellent and affordable public services that can improve the quality of life for all,” she said. Also filed by Poe is Senate Bill 1121 which proposes the creation of a Philippine Transportation Safety Board. Under the directive of the current Marcos administration, Department of Transportation Undersecretary for Aviation and Airports Roberto Lim highlighted the government’s key priorities, including aviation safety and strengthening of learning institutions. Lim further noted the agency’s priority of strengthening the Civil Aviation Training Center and engaging with the private sector as close partners for Air Transport Skills Training and Development. “If we are able to train our air traffic controllers, we would not only meet our own requirements, but the requirements of other countries. We can develop this on an institutional basis,” said Lim. Open up the industry Kurt Edwards, director general of the International Business Aviation Council, also raised the fact that much could be gained “by opening the industry and making it more known to people.” In terms of managing safety risks, Captain Manuel Antonio Tamayo, director general of the Civil Aviation Authority of the Philippines, shared initiatives to advance safety capabilities in the aviation sector through the State Safety Program. The program employs a risk-based approach to regulations, capacity building and integration of a new organizational structure for monitoring and evaluation. Meanwhile, Transportation Secretary Jaime Bautista stressed that the DOTr’s goal to rehabilitate the Ninoy Aquino International Airport through a public-private partnership agreement, which he said, will present a “landmark opportunity for economic growth, improved infrastructure, and a world-class travel experience.” Added Bautista, “We are also developing regional airports, such as the unsolicited proposals for the operations and maintenance of the Bicol International Airport, Bohol-Panglao International Airport and Laguindingan Airport.” The post Domestic aviation rebounds this year appeared first on Daily Tribune......»»
Int’l acclaim illuminates Meralco’s sustainability agenda
The Manila Electric Company continues to shine a spotlight on its unwavering commitment to sustainability with the recent accolade awarded to First Vice President and Chief Sustainability Officer Raymond B. Ravelo, who was named the "Sustainability Thought Leader of the Year for the Asia Pacific Region." The recognition was conferred during the Sustainable Company Awards 2023 by Environmental Finance. Ravelo was commended for his exceptional leadership in spearheading Meralco's sustainability agenda called "Powering the Good Life", which is marked by a distinctive focus on four pillars: Power, People, Planet, and Prosperity. Ravelo's achievement was the result of a rigorous selection process overseen by a distinguished panel of over 30 independent industry experts. The Sustainable Company Awards celebrates organizations and individuals who are at the forefront of reshaping corporate practices to ensure a sustainable future. “This recognition brings great pride to us in Meralco as it reflects our earnest commitment to sustainability. As we move towards building a sustainable energy future, we will continue placing sustainability at the core of our strategy and operations as a Company to bring forth a brighter future for all,” Ravelo said. Meralco, a recognized leader in the Philippine energy sector, has deeply rooted its sustainability agenda in the United Nations Sustainable Development Goals, with emphasis on clean energy, responsible consumption and production, and climate action. At the center of Meralco's sustainability thrust is its commitment to a just, orderly, and affordable transition to clean energy. This commitment involves securing at least 1,500 MW of its power supply from Earth-friendly sources and actively developing 1,500 MW in renewable energy power generation projects. Additionally, Meralco has been at the forefront of adopting alternative and sustainable transportation solutions, with the deployment of 156 electric vehicles to date, constituting 7 percent of the company’s fleet and surpassing the government's 5 percent vehicle electrification rate mandate. To advance gender diversity and inclusion in the workplace, Meralco has launched its D&I program “#Mbrace”, which significantly increased female representation in its workforce to 23%, over and above the global energy sector's average of 13 percent. Moreover, Meralco recently achieved its highest-ever environmental, social, and governance (ESG) ratings from global companies. Notably, MSCI Inc. upgraded Meralco's ESG rating to BBB in 2022 and maintained it in 2023, a remarkable progression from its BB rating from 2019 to 2021. MSCI evaluates over 8,500 companies worldwide based on general and industry-specific sustainability criteria. Likewise, Meralco attained a record high on its FTSE Russell ESG Rating, with a score of 3.2 in 2023. Meralco thus ranked higher than both the Philippine global energy sector ESG rating averages, with strong performance in risk management, labor standards, corporate governance, and anti-corruption practices. Furthermore, Meralco is now the first and only electric utility in the Philippines to be included in the Bloomberg Gender Equality Index, the only ESG assessment in the world focused on gender equality in the workplace. Meralco was recognized for distinctive performance in anti-sexual harassment policies, gender pay parity, and building an inclusive culture. “We are resolute in our commitment to powering the good life. Guided by the UN SDGs, we, in Meralco, will continue energizing cities and communities while preserving our planet, empowering our people, and creating prosperity for all,” Ravelo affirmed. The post Int’l acclaim illuminates Meralco’s sustainability agenda appeared first on Daily Tribune......»»
AboitizPower utilities score tech win for A.I. use
An artificial intelligence-enabled software developed by Aboitiz Power Corporation (AboitizPower) distribution utilities Davao Light and Power Co. Inc. (Davao Light) and Visayan Electric Company Inc. (Visayan Electric) with Aboitiz Data Innovation Pte. Ltd. gained recognition for helping advance technology and digital transformation in the utilities industry. ADI was awarded the Philippines Technology Excellence Award for A.I. — Utilities in the Asian Technology Excellence Awards 2023 in Bangkok, Thailand for Project A.I. CU (“I see you”), a homegrown idea that began in Davao Light. The project utilizes A.I. to optically scan images of electrical installation components — like those mounted on electrical poles — and check if these align with the records of a distribution utility. After a series of pilot tests in Davao Light, the software was able to identify and tag the asset by its individual and unique compatible unit number which was manually assigned to it beforehand. Each CU represents a grouping of electrical items that a certain electrical asset is composed of. Grouping materials and categorizing assets makes it easier for distribution utilities to identify its infrastructure. Overall, verifying the accuracy of records ensures regulatory compliance, better asset management, operational efficiency, and the continued trust that a distribution utility can deliver justified and cost-effective electricity prices in its franchise area. Reduce manpower The use of A.I. to recognize CUs can also significantly reduce the need for manpower and rendered work hours, allowing team members to dedicate time and effort in other activities. Typically, trained engineers are sent to each electrical installation and visually identify each item installed. “The inspiration for Project A.I. CU goes beyond streamlining asset verification. This initiative serves as a window into how we are leveraging artificial intelligence to transform our operations, making them more efficient and smarter,” said Davao Light Meter Shop Supervisor Mark Anthony Catalan, adding that the idea for Project A.I. CU began in 2019 and was proposed to Davao Light in 2020. Catalan was joined by fellow Davao Light innovators Eric Camerino, Jeffrey Lingatong, Raquel Caro, Russel Bolivar, and Prince Yamyamin in developing Project A.I. CU in its early stages and rejuvenating the search for other possible A.I. applications in the operations of Davao Light, particularly in the aspects of safety, audit and maintenance. Proof of concept The group was able to complete an A.I. model for Project A.I. CU as a proof of concept before turning it over to ADI, the data science and A.I. arm of the Aboitiz Group. In the near future, ADI aspires to refine and scale the project for its full implementation in Visayan Electric and Davao Light. These AboitizPower subsidiaries are the second and third largest distribution utilities in the Philippines, respectively. Once fully implemented, Project A.I. CU is estimated to save both companies millions of pesos in annual operating costs. As such, ADI will also assess its potential use in other AboitizPower distribution utilities. “This award demonstrates the data-driven innovations being applied in AboitizPower and highlights the growing synergies within the Aboitiz techglomerate, which in this case is between our distribution utilities and ADI,” said AboitizPower President and CEO Emmanuel Rubio. “It also reaffirms AboitizPower’s mission of ‘Transforming Energy for a Better World’ as it continues its digitalization and innovation initiative to ensure quality service.” The post AboitizPower utilities score tech win for A.I. use appeared first on Daily Tribune......»»
AboitizPower utilities score tech win for use of A.I.
An artificial intelligence-enabled software developed by Aboitiz Power Corporation (AboitizPower) distribution utilities Davao Light and Power Co., Inc. and Visayan Electric Company, Inc. (Visayan Electric) with Aboitiz Data Innovation Pte. Ltd. gained recognition for helping advance technology and digital transformation in the utility industry. ADI was awarded the Philippines Technology Excellence Award for A.I. - Utilities in the Asian Technology Excellence Awards 2023 in Bangkok, Thailand for Project A.I. CU (“I see you”), a homegrown idea that began in Davao Light. The project utilizes A.I. to optically scan images of electrical installation components — like those mounted on electrical poles — and check if these align with the records of a distribution utility. After a series of pilot tests in Davao Light, the software was able to identify and tag the asset by its individual and unique compatible unit (CU) number which was manually assigned to it beforehand. Each CU represents a grouping of electrical items that a certain electrical asset is composed of. Grouping materials and categorizing assets makes it easier for distribution utilities to identify their infrastructure. Overall, verifying the accuracy of records ensures regulatory compliance, better asset management, operational efficiency, and the continued trust that a distribution utility can deliver justified and cost-effective electricity prices in its franchise area. The use of A.I. to recognize CUs can also significantly reduce the need for manpower and rendered work hours, allowing team members to dedicate time and effort to other activities. Typically, trained engineers are sent to each electrical installation and visually identify each item installed. “The inspiration for Project A.I. CU goes beyond streamlining asset verification. This initiative serves as a window into how we are leveraging artificial intelligence to transform our operations, making them more efficient and smarter,” said Davao Light Meter Shop Supervisor Mark Anthony Catalan, adding that the idea for Project A.I. CU began in 2019 and was proposed to Davao Light in 2020. Catalan was joined by fellow Davao Light innovators Eric Camerino, Jeffrey Lingatong, Raquel Caro, Russel Bolivar, and Prince Yamyamin in developing Project A.I. CU in its early stages and rejuvenating the search for other possible A.I. applications in the operations of Davao Light, particularly in the aspects of safety, audit, and maintenance. The group was able to complete an A.I. model for Project A.I. CU as a proof of concept before turning it over to ADI, the data science and A.I. arm of the Aboitiz Group. In the near future, ADI aspires to refine and scale the project for its full implementation in Visayan Electric and Davao Light. These AboitizPower subsidiaries are the second and third-largest distribution utilities in the Philippines, respectively. Once fully implemented, Project A.I. CU is estimated to save both companies millions of pesos in annual operating costs. As such, ADI will also assess its potential use in other AboitizPower distribution utilities. “This award demonstrates the data-driven innovations being applied in AboitizPower and highlights the growing synergies within the Aboitiz techglomerate, which in this case is between our distribution utilities and ADI,” said AboitizPower President and CEO Emmanuel Rubio. “It also reaffirms AboitizPower’s mission of ‘Transforming Energy for a Better World’ as it continues its digitalization and innovation initiative to ensure quality service.” In line with the Aboitiz Group’s Great Transformation, and as a partner in Philippine development via its power generation and distribution assets, AboitizPower is focusing its transformation in the realms of decarbonization, digitalization, and growing beyond its core business. The Company had already indicated its goal of growing its renewable energy portfolio to at least 4,600 megawatts or 50% of its generation mix by the next decade to aid the country’s energy transition to a cleaner power mix. The Asian Technology Excellence Awards was presented by Asian Business Review, a regional magazine serving Asia's dynamic business community. The post AboitizPower utilities score tech win for use of A.I. appeared first on Daily Tribune......»»
A resounding FIBA World Cup hosting success
In 2007, sports patron and prominent business executive Manny V. Pangilinan flew to Geneva to mend the country’s scarred relationship with FIBA when the Philippines was suspended due to a struggle between the Basketball Association of the Philippines and the Philippine Olympic Committee. Over the years, MVP, along with the Samahang Basketbol ng Pilipinas or SBP, were able to make amends and formed a strong bond with FIBA. And as they say, the rest was history. MVP’s vision to host the FIBA World Cup in a tri-nation bid was approved. The country, together with Japan and Indonesia, was granted to host the 2023 FIBA World Cup, with 32 teams competing for the coveted Naismith trophy for the 2023 Last Sunday, the World Cup curtain finally closed, with several records written, erased, and etched in FIBA history. First, the expanded World Cup adopted by the organizers successfully achieved a more competitive playing field. Nine of the 32 that came to this World Cup did not play in the previous World Cup. After two weeks of grueling competition, six of the eight countries that previously entered the quarterfinals in the 2019 World Cup failed to advance to the next round. Argentina, France, Spain, Poland, Australia, and the Czech Republic were eliminated earlier in the group stages, with only the US and Serbia moving to the semi-final round. Second, for the first time since it participated in the tournament, Germany won the World Cup championship, beating all its opponents in the elimination rounds for an immaculate 7-0 and completing an 8-0 game sweep by beating Serbia in the final, 83-77. FIBA secretary general Andreas Zagklis was quoted by AP saying the expanded qualification field “has changed global basketball on the men’s side.” Third, the three host countries had record-breaking attendance, a rousing success for the tri-nation hosting of the world’s biggest basketball show. Across 92 games in 15 days in five different venues (three in Manila, one each in Okinawa and Jakarta), Zagklis said the World Cup drew a total of 700,000 fans pending the final numbers from the bronze-medal match between USA and Canada and Serbia-Germany finale. In the opener on 25 August, the Philippines tallied a World Cup record featuring 38,115 fans who witnessed the thrilling battle between home team Gilas Pilipinas and the Dominican Republic at the Philippine Arena in Bocaue, Bulacan. The milestone highlighted the Philippines’ hosting and smashed the previous record of 32,616 spectators who watched the gold medal match between the USA and Russia in the 1994 games in Toronto, Canada. Zaglis was all praises for the three countries, especially the Philippines, whom he described as an excellent host. “I don’t think it’s easy to find anywhere in the world that has this kind of service to the visitors. Always with a smile and kindness and with a solution-oriented approach. I can only express how grateful FIBA is to the Philippines,” Zaglis said. SBP president Al S. Panlilio had mixed emotions as the FIBA World Cup ended. “We have proven that our country can host a global basketball event as huge as the FIBA World Cup. Everyone involved — the local organizing committee, various private and public stakeholders, volunteers, peace and order personnel, traffic enforcers, the LGUs, and basketball-loving Pinoys who bravely trooped to the venues to watch the games — must be congratulated for making the event a whopping success.” “But there’s also a feeling of extreme bittersweetness as it comes to an end, yet overshadowed by extreme hopefulness for the 2027 World Cup in Qatar,” he added. Panlilio spearheaded the country’s bid for the multiple-nation hosting of the World Cup along with MVP, SBP chairman emeritus, in 2017. He acknowledged what MVP did to bring the FIBA World Cup to the Philippines with his creative vision of bidding for multi-nation hosting. “It was a privilege to help realize that creative vision by collaboratively working with various groups and stakeholders and successfully hosting the World Cup. We are proud of the effort everyone contributed to make this huge undertaking a monumental and amazing feat,” Panlilio said. The post A resounding FIBA World Cup hosting success appeared first on Daily Tribune......»»
ERRAMON Aboitiz: Renaissance man
The Aboitiz family is a big player in Philippine business for over a century. With businesses covering a wide range of industries, including power, banking, food, and infrastructure, the clan’s Aboitiz Group has been creating jobs and opportunities for Filipinos. Founded by Paulino Aboitiz, son of a Spanish farmer who migrated to the Philippines in the late 1800s, Aboitiz Equity Ventures Inc., or AEV, has grown from being an abaca-trading and general-merchandise business to a conglomerate with interests in power, banking, food, property, biofuel and construction. The group is undergoing its Great Transformation to establish itself as the Philippines’ pioneering techglomerate. This innovative growth strategy, powered by technology and a renewed entrepreneurial mindset, empowers the entire group to advance businesses and uplift communities. Among the driving forces propelling the Group’s business revolution is Erramon “Montxu” Aboitiz. Montxu previously served as the president and chief executive at Aboitiz Equity Ventures for 10 years from 2009 to 2019. He also briefly held the role of CEO at Aboitiz Power Corp. in 2018. Presently, he serves as a director at AEV and Endeavor Philippines and as chairman of the Board of Directors at Union Bank of the Philippines. Likewise, he serves as a board observer of the Aboitiz & Company. The Asian Institute of Management named Montxu as the new chairman of its Board of Trustees, effective from 1 September 2023. Montxu joined a respected group of successful business leaders who are dedicated to advancing the progress and welfare of Asia and its inhabitants. He was the 7th chairman of AIM, taking over from Peter Garrucho who held the position since 2017. Montxu graduated from Gonzaga University in Spokane, Washington, USA with a Bachelor of Science degree in Business Administration, majoring in Accounting and Finance. In 2011, he was awarded the Management Man of the Year by the Management Association of the Philippines and recognized as the Entrepreneur of the Year by Ernst & Young. Seven years after that, AIM awarded Montxu with an honorary doctorate in management. Social responsibility runs in Aboitiz blood The Aboitiz Foundation, the social responsibility arm of the Aboitiz Group, donated $10 million to AIM in 2019 — known as the Aboitiz 100th Anniversary Commitment Fund. The fund aims to bridge the local and regional gap in data science and innovation. As a result of this generous donation, AIM’s Aboitiz School of Innovation, Technology, and Entrepreneurship is now able to provide top-notch education and research opportunities in data science, with a focus on practical applications. This is made possible by collaborating with data science professionals and leaders from around the world. Recently, Montxu was elected chairperson of the AIM board of trustees. He is widely recognized for his strong commitment to social responsibility and philanthropy. Regarding the endowment to AIM, Montxu said it targeted assisting AIM in its efforts “to expand its curriculum and facilities towards the direction of a bold future, and the skills and education it will require.” Through his leadership in the Aboitiz Group and the Aboitiz Foundation, he has spearheaded numerous projects that have made a positive impact on local communities. As chairman of the Aboitiz Foundation, Montxu has played a key role in shaping its initiatives. The foundation focuses on three key areas which are education, enterprise development, and environmental conservation. “As businessmen, there is no doubt we seek profits and a return on our capital. But as Filipinos, we are equally guided by a sense of purpose to find meaningful ways of contributing to our communities across the country. This symbiotic relationship of profit and contributing to society is our secret sauce to true sustainability, allowing the Aboitiz Group to drive change for a better world by advancing business and communities,” Montxu added. The foundation implemented various programs and scholarships to improve access to quality education, foster entrepreneurship and livelihood opportunities, and promote sustainability. Aboitiz Foundation has been heavily involved in rehabilitating and improving schools in underprivileged areas. They have renovated classrooms, libraries and other facilities, providing students with better learning environments. The foundation has also donated learning materials and equipment to enhance the educational experience of students. Aboitiz Foundation supports community-based programs that aim to uplift marginalized communities. These programs focus on various aspects such as health, nutrition, livelihood, and disaster resilience. The foundation works closely with local organizations and stakeholders to implement sustainable solutions and empower communities to become self-sufficient. Aboitiz Foundation places significant emphasis on environmental conservation and sustainability. They have initiated projects to protect and restore ecosystems, promote renewable energy, and reduce carbon footprint. The foundation actively supports reforestation efforts, marine conservation, and waste management initiatives. The foundation also has a strong focus on disaster response and preparedness. They have been at the forefront of providing immediate relief and support during natural disasters, such as typhoons, earthquakes and floods. The foundation also works towards building resilient communities by conducting disaster risk reduction and management training programs. Montxu Aboitiz encourages and supports employee volunteerism within the Aboitiz Group. The company promotes a culture of giving back by providing employees with opportunities to engage in community service and volunteer activities. This not only benefits the communities they serve but also fosters a sense of social responsibility among the employees. It also collaborates with various non-governmental organizations, government agencies, and other stakeholders to maximize the impact of their social responsibility initiatives. They work together to address complex social issues and implement sustainable solutions that create lasting change. Aligned with the United Nations Global Compact, AEV drives policies, advocacies, and initiatives to make a lasting impact. The post ERRAMON Aboitiz: Renaissance man appeared first on Daily Tribune......»»
CoC reveries
An aversion to table the West Philippine Sea conflict and speeding up the progress of the Code of Conduct, or CoC, between the Association of Southeast Asian Nations, or ASEAN, and China is very evident in the ongoing Summit in Indonesia. The maritime conflict is not even on the official agenda and will be tackled only through optional bilateral meetings on the sidelines of the yearly assembly, which is all under the wishes of China. ASEAN, thus, is pushing itself into irrelevance by acceding to the wishes of China and its cohorts in the regional bloc like Cambodia. Despite its existence as an Economic Community since its inception, with full integration envisioned in 2025, much of its aspirations, including being a cohesive body to advance the interests of its members, remain a pipe dream. The CoC would have been a stellar achievement, but it was described as a moving goal post for more than two decades. In the ongoing ASEAN meeting, all that host Indonesia was able to commit to was a three-year deadline to finalize a CoC. Another set of guidelines is, thus, expected after the Jakarta assembly instead of a pact that will bind all the claimants in the maritime conflict. The guidelines, moreover, will have to be endorsed by regional leaders during the ASEAN-China Summit that is scheduled later. The Philippines is not confident about a substantial progress in the CoC despite its being the most urgent matter to maintain stability in the region. An official of the Department of Foreign Affairs said the outcome of talks on the long-delayed CoC will be limited “to mere reporting of past discussions.” “At most, there will be a report on what happened during the last meeting in the Philippines of the joint working group on the CoC,” which hardly equates to progress. During the third round of CoC talks in Manila from 22 to 24 August, discussions were stuck on the contentious issues of whether or not the CoC would be “legally binding.” China has historically resisted a legally binding CoC, the reason for the existence of the non-binding 2002 Declaration on the Conduct of Parties in the South China Sea, or DoC. In 2019, Foreign Minister Wang Yi indicated his optimism that a CoC would be completed within three years, or by 2022. It is now 2023. He also announced that China supported a CoC that had “binding force” and was “an upgraded and strengthened version” of the DoC. The discussions then came to a head due to the different perspectives among those at the negotiating table, which are the same obstacles blocking the resolution of the maritime rift. China has refused to recognize the Permanent Court of Arbitration award that the Philippines and other claimant countries use as a basis for their position in the DoC negotiations. In not recognizing the arbitral ruling and insisting on its historical basis for the territorial claims, China and ASEAN are not on the same page in the negotiations, meaning that hopes for an agreement are futile. Like what happened in the local context when the Communist Party of the Philippines sued for negotiations with the government and used it to consolidate its forces, China uses the CoC discussions as a delaying tactic to fortify its position. Its recent release of the 10-dash line, which was a rewriting of its territorial boundaries again based on historical data, proves China is not about to change its position. According to reports on the Summit, China will only support a legally binding code when its historical version prevails. Another term that China wants included in the negotiations is barring countries outside the region from interfering. It also wants economic activities at sea, including oil and gas development, “to be conducted in cooperation with companies from countries outside the region.” China also wants the CoC signatories not to “hold joint military exercises with countries from outside the region, unless the parties concerned are notified beforehand and express no objection.” The untenable conditions appear designed to prevent the CoC from ever coming into being. The post CoC reveries appeared first on Daily Tribune......»»
Asian Institute of Management appoints Erramon Aboitiz as new chairman
UnionBank of the Philippines chairman of the Board of Directors Erramon "Montxu" I. Aboitiz has taken on a pivotal role as the new chairman of the Board of Trustees at the Asian Institute of Management beginning 1 September 2023. Aboitiz joins an esteemed group of accomplished business leaders who share the commitment to advance the growth and well-being of Asia and its people. Montxu is the seventh chairman of AIM, succeeding Peter Garrucho who assumed the role in 2017. Montxu served as the president and CEO of Aboitiz Equity Ventures for a decade from 2009 to 2019, and briefly as the CEO of Aboitiz Power Corporation in 2018. Additionally, Montxu is a former trustee of the Philippine Disaster Resilience Foundation before Aboitiz Group president and CEO Sabin Aboitiz assumed the same role. Montxu earned a Bachelor of Science degree in Business Administration with a major in Accounting and Finance from Gonzaga University in Spokane, Washington, USA. In 2011, he received the Management Man of the Year award from the Management Association of the Philippines and was recognized as Entrepreneur of the Year by Ernst & Young. Seven years later, AIM conferred an honorary doctorate degree in management on Montxu. In 2019, the Aboitiz Group, through its social responsibility arm the Aboitiz Foundation, made a $10 million donation to AIM, marked as the Aboitiz 100th Anniversary Commitment Fund. The said fund is being used to address the local and regional gap in data science and innovation. With this donation, AIM’s Aboitiz School of Innovation, Technology and Entrepreneurship conducts world-class teaching and research with real-world applications with data science professionals and leaders. The post Asian Institute of Management appoints Erramon Aboitiz as new chairman appeared first on Daily Tribune......»»
Spurs owner Lewis pleads not guilty to US insider trading charges
The British billionaire owner of Premier League side Tottenham, Joe Lewis, pleaded not guilty to insider trading charges Wednesday in a US federal court. The 86-year-old Bahamas-based Lewis earlier traveled to the United States where he surrendered to authorities in New York. Lewis is accused of furnishing employees and lovers with inside information for years in a "brazen" scheme between 2013 and 2021 that raked in millions of dollars. The Attorney for the Southern District of New York, Damian Williams, announced on Tuesday that Lewis had been indicted along with two co-conspirators. Lewis, the principal owner of the Tavistock Group private investment firm, denied all 19 counts in the Manhattan federal court and was released on bail, the prosecutor's office confirmed to AFP. Lewis's attorney, David Zornow, said the US government had made "an egregious error in judgment" in charging his client. "Mr Lewis has come to the US voluntarily to answer these ill-conceived charges, and we will defend him vigorously in court," he said in a statement emailed to AFP. The prosecutors allege that for years Lewis "abused his access to corporate board rooms and repeatedly provided inside information to his romantic partners, his personal assistants, his private pilots and his friends." "Those folks then traded on that inside information and made millions of dollars in the stock market, because thanks to Lewis those bets were a sure thing," Williams said. The attorney alleges that Lewis passed on the inside information as a way of compensating employees or giving gifts to friends, describing the scheme as "classic corporate corruption." Lewis has been charged with 16 counts of securities fraud, the most serious of which carry a maximum sentence of 25 years in prison, and three conspiracy counts, which carry a maximum sentence of five years. False filings His two alleged co-conspirators, Patrick O'Connor, 66, and Bryan Waugh, 64, are two pilots employed by Lewis to fly his private aircraft. The prosecution says the pair made millions of dollars on the stock market thanks to the alleged illegal tips provided by Lewis. Stock tips provided by Lewis included confidential information about upcoming favorable test results for biochemical companies, according to prosecutors. The 29-page indictment alleges that in 2019 Lewis lent his two associates $500,000 each so that they could buy Mirati Therapeutics stock before the public release of the clinical results. O'Connor allegedly texted a friend to buy the stock, telling them that he thought "the Boss has inside info." Lewis is also accused of conspiring with others to hide his share ownership in Mirati through false filings and misleading statements. Lewis is reported to be one of Britain's richest men with a fortune that Forbes puts at $6 billion, building his reputation as a currency speculator in the 1980s and early 1990s. His holding company ENIC bought a controlling interest in Tottenham Hotspur Football Club in 2001 from then-owner Alan Sugar, another prominent British tycoon, for $22 million. Lewis officially seeded control of the club last year, according to British financial records, and his stake was formally handed to a family trust. A spokesperson for Tottenham said: "This is a legal matter unconnected with the club and as such we have no comment." The post Spurs owner Lewis pleads not guilty to US insider trading charges appeared first on Daily Tribune......»»
ICC confirms $30m reparations in DR Congo warlord case
The International Criminal Court on Friday confirmed a more than $30 million reparations package for thousands of victims of DR Congo warlord Bosco Ntaganda, including former child soldiers. Named the "Terminator" for his reign of terror in the vast African country in the early 2000s, Ntaganda was jailed for 30 years in 2019 for war crimes and crimes against humanity. Judges afterward awarded $30.3 million (27 million euros) in reparations, but last year ordered a review saying the number of victims was unclear. But on Friday "the Chamber unanimously assesses Mr Ntaganda's liability for reparations at USD $31,300,000," the Hague-based court said in a statement. Although Ntaganda is liable for the payment, the ICC found that he did not have the funds, which would now be paid from the Trust Fund for Victims at the ICC. Judges asked court officials to "continue exploring whether Mr. Ntaganda possessed any undiscovered assets" and monitor his finances "on an ongoing basis." Judges added that based on available information, there were an estimated 7,500 direct and indirect victims of violent attacks, as well as 3,000 direct or indirect victims of crimes against child soldiers. No financial amounts were given for specific victims, but payment would include around $11 million in socio-economic support and around five million dollars ($5 million) for mental care resulting from "psychological harm" suffered during the attacks. Rehabilitation of former child soldiers was estimated at around $4,000 per person. The ICC 2021 upheld a 30-year sentence on appeal for war crimes against Ntaganda. "The Chamber reiterates that Mr. Ntaganda's conviction is final and his liability to repair the harm caused to the victims of his crimes is under no discussion," the judges stressed in Friday's order. "The Chamber will continue striving to advance these reparation proceedings in the most efficient and effective manner possible... ensuring that the victims of his crimes receive the reparations they are entitled to, and for which they have waited for more than two decades, without further delay," they said. The Rwandan-born Ntaganda, 49, was convicted of 18 counts of crimes against humanity and war crimes, including murder, sexual slavery, rape, and using child soldiers. Ntaganda was the first person to be convicted of sexual slavery by the court. Many of the other charges related to massacres of villagers in the mineral-rich Ituri region of the Democratic Republic of Congo. The post ICC confirms $30m reparations in DR Congo warlord case appeared first on Daily Tribune......»»
UN talks aim to harness AI power and potential
The United Nations is convening this week a global gathering to try to map out the frontiers of artificial intelligence and to harness its potential for empowering humanity. The UN hopes to lay out a clear blueprint for the way forward for handling AI, as the development of the technology races ahead the capacity to set its boundaries. The "AI for Good Global Summit", being held in Geneva on Thursday and Friday, will bring together around 3,000 experts from companies like Microsoft and Amazon as well as from universities and international organizations to try to sculpt frameworks for handling AI. "This technology is moving fast," said Doreen Bogdan-Martin, head of the International Telecommunication Union, the UN's information and communications technology agency that convened the summit. "It's a real opportunity for the world's leading voices on AI to come together on the global stage and to address governance issues," she told reporters. "Doing nothing is not an option. Humanity is dependent upon it. So we have to engage and try and ensure a responsible future with AI." She said the summit would examine possible frameworks and guardrails to support safe AI use. Listed participants include Amazon's chief technology officer Werner Vogels, Google DeepMind chief operating officer Lila Ibrahim and former Spain football captain Iker Casillas -- who suffered a heart attack in 2019 and now advocates for AI use in heart attack prevention. They will be joined by dozens of robots, including several humanoids like Ai-Da, the first ultra-realistic robot artist; Ameca, the world's most advanced life-like robot; the humanoid rock singer Desdemona; and Grace, the most advanced healthcare robot. Benefiting humanity? The Geneva-based ITU feels it can bring its experience to bear on AI governance. Founded in 1865, the ITU is the oldest agency in the UN fold. It established "SOS" as the Morse code international maritime distress call in 1906, and coordinates everything from radio frequencies to satellites and 5G. The summit wants to identify ways of using AI to advance the UN's lagging sustainable development goals on issues such as health, the climate, poverty, hunger and clean water. Bogdan-Martin said AI must not exacerbate social inequalities or introduce biases on race, gender, politics, culture, religion or wealth. "This summit can help ensure that AI charts the course that benefits humanity," UN chief Antonio Guterres said. However, while AI proponents hail the technology for how it can transform society, including work, healthcare and creative pursuits, others are worried by its potential to undermine democracy. 'Perfect storm' "We're kind of in a perfect storm of suddenly having this powerful new technology -- I don't think it's super-intelligent -- being spread very widely and empowered in our lives, and we're really not prepared," said serial AI entrepreneur Gary Marcus. "We're at a critical moment in history when we can either get this right and build the global governance we need, or get it wrong and not succeed and wind up in a bad place where a few companies control the fates of many, many people without sufficient forethought," he said. Last month, EU lawmakers pushed the bloc closer to passing one of the world's first laws regulating systems like OpenAI's ChatGPT chatbot. There is also growing clamor to regulate AI in the United States. ChatGPT has become a global sensation since it was launched late last year for its ability to produce human-like content, including essays, poems and conversations from simple prompts. It has sparked a mushrooming of generative AI content, leaving lawmakers scrambling to try to figure out how to regulate such bots. Juan Lavista Ferres, chief data scientist of the Microsoft AI For Good Lab, gave an example of how AI could be used "to make our world a better place". He compared the more than 400 million people diagnosed with diabetes, a major cause of blindness, with the small number of ophthalmologists. "It's physically impossible to diagnose every patient. Yet we and others have built AI models that today can take this condition with an accuracy that matches a very good ophthalmologist. This is something can even be done from a smartphone. "Here AI is not just a solution, but it's the only solution." The post UN talks aim to harness AI power and potential appeared first on Daily Tribune......»»
Biden bets on ‘Bidenomics’ for 2024 victory
President Joe Biden is gambling his 2024 re-election on a continued strong US economy and manufacturing resurgence with a speech Wednesday launching his newly branded "Bidenomics." The Democrat's speech, heavily promoted in advance by the White House, will see him take credit for a powerful US recovery from the COVID pandemic shutdown and subsequent supply chain nightmares. "You'll hear the president today talk about the fact that the United States right now..., we are leading the world in terms of the fastest, strongest economic recovery since the beginning of the pandemic among G7 countries," Principal Deputy Press Secretary Olivia Dalton told reporters. It's a bold, potentially risky move for Biden to put the economy at the center of his re-election platform, brushing aside months of warnings that the world's biggest economy might still hit a post-pandemic recession. Putting his name on it is even bolder, with "Bidenomics" deliberately echoing and refuting Republicans' long-cherished "Reaganomics," in reference to the 1980s boom under Ronald Reagan. Biden was bullish Wednesday on departure for Chicago, telling reporters at the White House that he's "been hearing every month there's going to be a recession next month." Now the consensus, he said, is that "we're not going to have a recession." 'Bidenomics' or 'Reaganomics'? So far, the sales pitch is having trouble getting through -- in large part due to the lingering inflationary pressures on a country that had grown used to low price increases. A May poll by ABC News/Washington Post even found Biden's scandal-plagued Republican predecessor -- and likely 2024 rematch rival -- Donald Trump leading by 18 percentage points on the question of who handled the economy better. But the White House says inflation is on a slow but steady decline and that "Bidenomics" is changing the playing field in a way that will benefit the middle classes. Huge spending bills passed by Congress during Biden's first two years in power are pouring money into green energy technology, semiconductors, and not less than $550 billion for revamping the country's roads, bridges, and other infrastructure. Lael Brainard, director of the National Economic Council, told reporters Tuesday that the Reagan-era trickle-down theory led to the hollowing out of US industrial cities with offshoring and abandonment of ambitious infrastructure upgrades. By contrast, Biden is using government funding as a catalyst for a "boom in private sector spending in manufacturing construction." She touted funding for the expansion of broadband internet to every corner of the United States as an echo of Franklin Roosevelt's epic electrification program to modernize the nation in the 1930s. As for getting voters to buy into the "Bidenomics" pitch, that will come as Americans start seeing the funds begin to kick in, Dalton said. "We're seeing shovels in grounds, we're seeing private investment come back to our country, we're seeing millions of jobs created. So now is the time, with all of those accomplishments, (when) the president can take this message to the American people and say this is what Bidenomics is," Dalton said. "We're just starting to feel the impact." The post Biden bets on ‘Bidenomics’ for 2024 victory appeared first on Daily Tribune......»»
Bong Go fights for nurses’ welfare
Recognizing the pivotal role of nurses in healthcare and in a move to elevate the nursing profession in the country, Senator Christopher “Bong” Go continues to advocate for measures that will ensure the welfare of healthcare workers and improve their working conditions. In an ambush interview after his visit to Naga City, Camarines Sur on Saturday, June 3, Go stressed that healthcare workers deserve fair remuneration that reflects their invaluable service. He likewise pushed for the provision of benefits and incentives to help nurses and encourage them to remain in the country. “Alam n’yo, nu’ng nakaraang 18th Congress, isa po ako sa author at co-sponsor po ng Salary Standardization 5. At nagkaroon tayo ng SSL 5 kung saan po itinaas ang sweldo ng lahat ng government workers. At hopefully po magkaroon pa sana ng SSL 6 para po matulungan pa ang ating mga government workers na tumaas pa ang sweldo, including na po itong mga (public) healthcare workers natin,” cited Go. Go authored and co-sponsored RA 11466, or the SSL5 in 2019 to give nurses and other civilian government employees their fifth round of salary increases broken down in tranches. In the same year, he also ensured that enough funding was allotted for the implementation of the 2019 Supreme Court decision that upheld Section 32 of the Philippine Nursing Act of 2002, which sets the minimum salary grade of the Nurse I position at SG-15. In addition, the senator continues to push for the advancement of nursing education through his proposed Advanced Nursing Education bill. Go noted that nursing education in the country has long been acknowledged as a strong foundation for producing competent and compassionate healthcare professionals. However, with the rapidly changing healthcare landscape, it has become crucial to update the curriculum and training methods to meet the demands of modern healthcare practices while encouraging nurses to serve their communities and stay in the country. The proposed "Advanced Nursing Education Act of 2022" seeks to protect and improve the nursing profession by instituting measures that will result in relevant nursing education for better career prospects and a dignified existence for our nurses. “Dapat po ay bigyan natin sila ng tamang kompensasyon para hindi na sila umalis na po, mangibang bansa dahil naintindihan ko naman na kailangan nilang magtrabaho sa ibang bansa dahil napakalaki talaga ng sweldo, ng diperensya ng sweldo dito sa ating bansa kumpara po sa ibang bansa. So, the more na dapat nating tulungan ang ating mga nurses,” Go emphasized. “At mayroon din po akong nai-file sa Senado itong Advance Nursing Education Bill para po sa karagdagang curriculum upang mahikayat natin silang magtrabaho dito sa ating bansa, sa Pilipinas. Maisama po ang iba pang curriculum, ‘yung community integration at immersion po, karagdagang kaalaman din iyon,” he explained. Go’s proposed measure will require the establishment of standard basic and graduate programs for nursing education, to be established in Commission on Higher Education (CHED)-accredited institutions of higher learning. Under the basic program, students will be mandated to undergo community integration and immersion to encourage them to work in various communities. Meanwhile, a graduate program will be built on the experiences and skills of the nurses towards mastery, expertise and leadership in practice, research and education. ### The post Bong Go fights for nurses’ welfare appeared first on Daily Tribune......»»
North Korea fires ‘space launch vehicle’
North Korea launched its purported spy satellite Wednesday, the South's military said, prompting confusion in Seoul as the city briefly issued an evacuation warning in error. South Korea's military detected the launch of what Pyongyang has described as a military reconnaissance satellite from south of the "Tongchang County area of North Pyongan Province in North Korea, at around 6:29 today," the Joint Chiefs of Staff said. "Our military is checking whether it is flying normally," they added. The military is analyzing whether "what North Korea has claimed as a space launch vehicle" -- ostensibly intended to carry a satellite into orbit -- may have broken up in mid-air or crashed after vanishing from radar early, the Yonhap News Agency reported. The "projectile disappeared from radar before reaching expected drop point," Yonhap said, citing the Joint Chiefs, adding that the military was looking at the possibility of it "exploding mid-air or crashing". North Korea on Tuesday confirmed it planned to launch what it called "military reconnaissance satellite No. 1" before June 11, having told Japan of its plans a day earlier. Tokyo and Seoul strongly criticized the proposed launch, which they said would violate UN sanctions barring Pyongyang from any tests using ballistic missile technology. Because long-range rockets and space launchers share the same technology, analysts say developing the ability to put a satellite in orbit would provide Pyongyang with cover for testing banned intercontinental ballistic missiles (ICBMs). Soon after the launch, Seoul city authorities sent an emergency text message alert to residents saying: "Citizens, please prepare to evacuate and allow children and the elderly to evacuate first" as an air raid siren sounded in central Seoul. The alert prompted consternation and confusion on Twitter before Seoul's interior ministry minutes later said the alert had been "incorrectly issued". North Korea does not have a functioning satellite in space, experts say. Since 1998, Pyongyang has launched five satellites, three of which failed immediately and two of which appeared to have been put into orbit -- but signals from them have never been independently detected, indicating they may have malfunctioned. North Korea said Tuesday its new spy satellite would be "indispensable to tracking, monitoring... and coping with in advance in real time the dangerous military acts of the US and its vassal forces". Criticising US-South Korea joint military exercises, including ongoing large-scale live-fire drills, a top North Korean military official said Pyongyang felt "the need to expand reconnaissance and information means and improve various defensive and offensive weapons", state media reported. Pyongyang, which typically does not give advanced warning of missile launches, has been known to inform international bodies of purportedly peaceful satellite launch plans. It told Japan on Monday it would launch a rocket between May 31 and June 11. In 2012 and 2016, Pyongyang tested ballistic missiles that it called satellite launches. Both flew over Japan's southern Okinawa region. Japan briefly activated its missile alert warning system for the Okinawa region early Wednesday, lifting it after about 30 minutes. Since diplomatic efforts collapsed in 2019, North Korea has doubled down on military development, conducting a string of banned weapons tests, including test-firing multiple ICBMs. North Korean leader Kim Jong Un last year declared his country an "irreversible" nuclear power and called for an "exponential" increase in weapons production, including tactical nukes. Kim this month inspected the country's first military spy satellite as it was prepared for launch, and gave the green light for its "future action plan". In 2021, Kim identified the development of such satellites as a key defense project for the North Korean military. "Whether or not North Korea's current satellite mission is a success, Pyongyang can be expected to issue political propaganda about its space capabilities as well as diplomatic rhetoric aimed at driving a wedge between Seoul and Tokyo," Leif-Eric Easley, a professor at Ewha University in Seoul. South Korea's foreign ministry earlier this week condemned the launch plan, saying the "so-called 'satellite launch' is a serious violation of UN Security Council resolutions banning all launches using ballistic missile technology". "If North Korea eventually goes ahead with the launch, it will have to bear the price and pain it deserves." The post North Korea fires ‘space launch vehicle’ appeared first on Daily Tribune......»»
China economy grows 4.5%
China's economy grew 4.5 percent year-on-year in the first quarter, rebounding after the end of zero-Covid measures late last year, official data showed Tuesday. The figures were the first snapshot since 2019 of a Chinese economy — the world's second-largest — unencumbered by the strict health measures that helped keep the coronavirus in check but battered businesses and supply chains. Retail figures, the main indicator of household consumption, were up 10.6 percent on-year in March, the biggest bounce since June 2021. According to data published by the National Bureau of Statistics, industrial production in March climbed 3.9 percent on-year. Tuesday's NBS report said in the first three months of the year China had faced a "grave and complex international environment as well as arduous tasks to advance reform, development and ensure stability at home." Beijing's virus containment policy — an unstinting regime of strict quarantines, mass testing and travel curbs — strongly constrained normal economic activity before it was abruptly ditched in December. The Chinese economy is also beset by a series of other crises, from a debt-laden property sector to flagging consumer confidence, global inflation, the threat of recession elsewhere, and geopolitical tensions with the United States. The official January-to-March growth figure was significantly higher than the 3.8 percent predicted by analysts in an AFP poll. China's economy grew by just three percent in the whole of last year, one of its weakest performances in decades. It posted a 4.8 percent expansion in the first quarter of 2022, though that slowed to just 2.9 percent in the final three months of the year. The government has set a comparatively modest growth target of around five percent this year, a goal the country's Premier Li Qiang has warned could be hard to achieve. An AFP poll of analysts predicted that the Chinese economy would grow by an average of 5.3 percent this year. That is roughly in line with the International Monetary Fund's forecast of 5.2 percent. Still, experts have warned that wider global trends could yet weigh on China's recovery. Teeuwe Mevissen, an analyst at RaboBank, said: "Consumption saw a recovery during the first quarter partly because of pent-up demand but is not yet back on pre-pandemic levels. "Loss in household wealth due to the real estate crisis and The post China economy grows 4.5% appeared first on Daily Tribune......»»
Coach tells Bulldogs to stay focused
National University head coach Dante Alinsurin is keeping his players’ emotions in check with the unbeaten three-peat-seeking squad just three wins from completing an elimination round sweep of the University Athletic Association of the Philippines Season 85 men’s volleyball tournament. The Bulldogs bunched up 11 wins in a row in as many games to punch a ticket to their eighth straight Final Four appearance armed with a twice-to-beat advantage in the division’s first staging following a three-year pandemic-forced hiatus. NU, undefeated in 29 consecutive games since 2019, can advance to the best-of-three Finals outright and force a step-ladder semifinals if it hurdles its last three assignments against University of the East, Final Four-bound University of Santo Tomas and Ateneo de Manila University. But despite his team’s hot streak, Alinsunurin does not want his players to be distracted with the prospect of an elims sweep. He wants the Bulldogs to just zone in on the task in front of them and not look too far ahead. “I always remind them to just do what they need to do inside the court. The twice-to-beat, the sweep, honestly, we only talked about it once,” Alinsurin said. “We make it a point that we put our focus on what we talked about on training,” he added. The four-time champion mentor also lauds his team for fully understanding what he wants to impart and for keeping the fire burning despite piling up victories. “I never put pressure on them that we need to reach this or we have to do that. Maybe that’s the reason why the team remains focused everyday in training and in games,” the former men’s national team mentor that steered the country to a silver medal finish in the 2019 Southeast Asian Games held in Manila. NU beat Far Eastern University, 28-26, 25-21, 26-28, 25-23, last Sunday behind Buds Buddun, Nico Almendras, Kennry Malinis and Obed Mukaba. The Bulldogs will face the Red Warriors on Saturday before taking on the Tigers on 26 April and the Blue Eagles on 29 April to wrap up their elims campaign. “We have to keep on working and try to improve every training,” Alinsunurin. “See what we need to address like our unforced errors and see to it that we’ll be able to limit our miscues in our next games.” The post Coach tells Bulldogs to stay focused appeared first on Daily Tribune......»»
Most Read Apr 26, 2018 – 01:29 PM
Most Read as of Apr 26, 2018 – 01:29 PM SC to announce 2017 bar exam results at 1:15 p.m. on Thursday 25.5% of 6,750 pass Bar Exam 2017 University of St. La Salle alum tops Bar Exam 2017 Sotto bares initial list of Senate bets NPC will endorse in 2019 Sunshine Dizon explains why […] The post Most Read Apr 26, 2018 – 01:29 PM appeared first on Inquirer.net......»»
Filipino gamers top group stage, advance in MLBB SEA tiff
Philippine bets Blacklist International and Execration are through to the Upper Bracket playoffs of the Mobile Legends: Bang Bang Southeast Asia Cup (MSC), after going 2-0 record in the group stages......»»
Abanse, Sta. Lucia bets advance
It’s an all-Abanse Negrense-Sta. Lucia cast in the Final Four as their teams A and B dispatched their quarterfinal opponents yesterday in the Gatorade-PSL Beach Volleyball Challenge Cup in Subic, Zambales......»»
DepEd has over P1.9B balance in unliquidated cash advances — COA
MANILA, Philippines — The Department of Education (DepEd) has accumulated an unliquidated cash advance balance of P1.9 billion as of yearend of 2019, according to the Commission on Audit (COA). In its annual audit report for DepEd in 2019, COA said a significant amount of unliquidated cash advances at the department is a result of deficiencies in […] The post DepEd has over P1.9B balance in unliquidated cash advances — COA appeared first on Cebu Daily News......»»