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EDITORIAL - Finally, plastic license cards
It says a lot about the quality of governance and ease of doing business in this country that it takes forever just to obtain a plastic driver’s license card......»»
Companies State it Takes More Than 6 Months to Fill Cybersecurity Positions
The latest Kaspersky survey found that 48% of companies require over half a year to find a qualified cybersecurity professional. A lack of proven experience was cited as one of the biggest challenges, along with the high cost of hiring and global competition in talent acquisition. With global labor markets continuing to clamor for InfoSec […].....»»
Stocks retreat as investors stay on sidelines
Share prices retreated yesterday as investors opted to stay on the sidelines with trading shortened to three sessions this Holy Week......»»
'There s today momentum in India which has to be experienced to be believed': Jaishankar in Singapore
Singapore, March 23 (ANI): External Affairs Minister S Jaishankar on Saturday said there's today momentum in India which has to be experienced to be believed and the country is going to be a much bigger economy in the coming years. Jaishankar, who reached Singapore earlier today as part of his three-nation visit, said apart from increase in ease of living and ease of doing business, India is ramping up its infrastructure.....»»
The real pasaways
The local internet came down hard last week on an anonymous teacher who was caught on livestream giving her students a scorching tongue-lashing for what she claimed was their lack of respect and discipline. Almost hysterical, Teacher X called them good-for-nothings without a future. Predictably, netizens deplored her derogatory language, which they equated with child abuse, and called on the Department of Education to investigate the incident and impose some disciplinary measure on the teacher concerned......»»
Thin volume seen on short trading week
Local stocks are expected to move sideways this week with only three trading days due to the Holy Week break......»»
'There s today momentum in India which has to be experienced to be believed': Jaishankar in Singapore
Singapore, March 23 (ANI): External Affairs Minister S Jaishankar on Saturday said there's today momentum in India which has to be experienced to be believed and the country is going to be a much bigger economy in the coming years. Jaishankar, who reached Singapore earlier today as part of his three-nation visit, said apart from increase in ease of living and ease of doing business, India is ramping up its infrastructure.....»»
Abduction by state agents: An isolated incident or a growing pattern?
By: CMFR StaffPosted on: March 18, 2024, 3:52 pm JEERS TO the media for reporting the abduction in Batangas of Jose Marie Estiller on February 20 as an isolated incident and for not providing the necessary background of past cases of abductions and enforced disappearances by state agents in the country. The lack of context ignores the continuing reality of human rights violations against activists.....»»
Abduction by state agents: An isolated incident or a growing pattern
JEERS TO the media for reporting the abduction in Batangas of Jose Marie Estiller on February 20 as an isolated incident and for not providing the necessary background of past cases of abductions and enforced disappearances by state agents in the country. The lack of context ignores the continuing reality of human rights violations against activists and critics during the presidency of Ferdinand Marcos, Jr.Media.....»»
Stock traders to keep track of inflation, earnings data
Investors will keep a close eye on the country’s inflation data and the release of more corporate earnings results this week to serve as catalysts for a potential climb back to the 7,000 mark......»»
Market rally at risk from profit takers
Investors will be on the lookout for fresh catalysts this week which, if successful, could propel the stock market to the 6,900 level, or even back to the 7,000 mark......»»
Catalysts for progress: MIESCOR @ 50
This year, we have witnessed numerous pivotal moments and milestones across various industries and sectors, as global economies navigated the challenges of the new normal......»»
Stock markets dip as US inflation comes into view
Stock markets drifted lower on Monday as investors eyed the release this week of key US inflation data that could guide Federal Reserve plans for interest rates going into the new year. Oil prices fell nearly two percent before bouncing higher and then sliding back lower as dealers awaited a delayed meeting of OPEC and its allies to decide over output levels. With Wall Street seeing little action at the back of last week owing to the Thanksgiving break, traders had few catalysts to drive action, though analysts were upbeat about the end of the year. "Although there isn't much buying interest at the moment, it's more notable that there still isn't much selling interest," said Briefing.com analyst Patrick O'Hare. The retreat in equities comes after a recent run-up across world stock markets fuelled by bets the US central bank has finished lifting interest rates as inflation comes down and the jobs market comes off the boil. Expectations that the Federal Reserve is done with hiking rates continued to weigh on the dollar Monday. The main focus this week is the release Thursday of the personal consumption expenditures (PCE) price index, the Fed's preferred gauge of inflation. "These numbers will be closely scrutinized for insights into inflation trends and their potential implications for monetary policy decisions," said SPI Asset Management's Stephen Innes. "While the current backdrop does not signify 'mission accomplished' in terms of addressing inflation, policymakers must now focus on planning for the next phase of the economic battle." Still, observers were upbeat about the outlook, with the latest weakness blamed on traders taking a breather after a strong month. Tony Sycamore, at IG Group, said early December could see some selling as investors "rebuild energy and (look) to set up for the end-of-year fireworks". Others said a drop in Wall Street's VIX "fear gauge" -- a measure of equity volatility -- to its lowest since January 2020 suggested investors were getting their mojo back. Eyes are also on developments at OPEC after the group and its allies, notably Russia, delayed a meeting aimed at agreeing production quotas, with some African countries said to be baulking at Saudi Arabian calls for more cuts. The group is thought to be close to reaching an agreement that could see the Saudis and Russia extend output reductions into the new year. OANDA analyst Craig Erlam said the OPEC+ group has shown in the past it usually can get a deal done, even if Saudi Arabia and Russia need shoulder bigger cuts. "But the question is how far they'll push it, given the recent trend in oil prices and increasing concerns around global growth next year," said Erlam. Crude prices have fallen in recent weeks as demand is seen coming down owing to slowing economies, particularly China's, and the Middle East conflict appears to not have expanded to include other countries in the region. Key figures around 1630 GMT New York - DOW: DOWN 0.2 percent at 35,338.58 points London - FTSE 100: DOWN 0.4 percent at 7,460.70 (close) Paris - CAC 40: DOWN 0.4 percent at 7,265.49 (close) Frankfurt - DAX: DOWN 0.4 percent at 15,966.37 (close) EURO STOXX 50: DOWN 0.4 percent at 4,354.41 (close) Tokyo - Nikkei 225: DOWN 0.5 percent at 33,447.67 (close) Hong Kong - Hang Seng Index: DOWN 0.2 percent at 17,525.06 (close) Shanghai - Composite: DOWN 0.3 percent at 3,031.70 (close) Euro/dollar: UP at $1.0935 from $1.0922 Pound/dollar: UP at $1.2611 from $1.2585 Euro/pound: DOWN at 86.70 pence from 86.79 pence Dollar/yen: DOWN at 148.94 from 149.56 yen West Texas Intermediate: DOWN 0.1 percent at $75.44 per barrel Brent North Sea crude: DOWN 0.3 percent at $80.36 per barrel .....»»
Stocks slip on lack of positive catalysts
Local stocks closed nearly flat yesterday, with Asian markets holding onto their gains for the week as confidence grows that interest rates globally will head lower next year, while oil prices fell on the prospects for smaller-than-expected output cuts by OPEC+......»»
Slow start for Philippine stocks amid limited catalysts
The Philippine stock market opened the week on a subdued note due to a dearth of new developments......»»
Market to move in tight range this week
The benchmark Philippine Stock Exchange index is seen trading within the 5,900 to 6,150 range this week as investors await better market catalysts......»»
Innovation is essential for Phl transformation, says PBBM
President Ferdinand Marcos Jr. on Wednesday emphasized the importance of innovation in transforming the country and achieving its development goals. In his speech during the launching of the National Innovation Agenda and Strategy Document 2023-2032, Marcos called on all the stakeholders to collaborate with the government in promoting innovation. "Invest in our local enterprises. Support our research institutions. Embrace the corporate responsibility of financing innovation-driven programs and projects," Marcos said. "These undertakings serve as catalysts to achieve our overall developmental agenda. Your involvement will be instrumental to their success," Marcos added. Marcos also called on the academe to be at the forefront of innovation as the Chief Executive recognized their role as incubators of talent, skills, and ideas that will shape the future. "Continue to develop the minds and the sensibilities of our youth so that we can set them up for success and harness their talents for national development," Marcos said. Marcos said that the government is steadfast in its commitment to nurturing innovation and sustainable development. He added that the government understood the crucial role played by infrastructure development and cutting-edge facilities. "They serve as the crucible for innovation and the foundation of our glorious future. And that is why we will remain aggressive in our drive to invest in our infrastructure system," Marcos said. Marcos said that he is confident that the Philippines can achieve its goals for innovation and sustainable development with the guidance of the NIASD. In the same speech, Marcos said that the NIASD is a "blueprint that will accelerate the country's innovation governance as well as promote a culture of innovation among scientists, researchers, entrepreneurs, engineers, and of course citizens." He added that the document is not just a plan but a commitment to making innovation an indispensable component of the nation's development agenda, and a key driver in the vision to achieve a truly smart and innovative Philippines. NIASD, which Marcos approved on 30 June 2023, is in accordance with Republic Act 11293, also known as the Philippine Innovation Act. Per the information provided by the National Economic and Development Authority, the NIASD has outlined its plans from 2023 to 2032. One of the plans includes reforming the education curriculum design and learning platforms to develop Filipinos' creativity, curiosity, problem-solving skills, and entrepreneurial abilities for the 21st century. The post Innovation is essential for Phl transformation, says PBBM appeared first on Daily Tribune......»»
Philippines stocks down on lack of catalysts
Stocks finished slightly lower yesterday as investors stayed on the sidelines due to a lack of new catalysts......»»
Analysts predict inflation rate at around 5.0% for August
The country's inflation rate will remain above the government's 2 to 4 percent target band, said private sector economists who slightly upgraded their price-rise forecasts for August. A DAILY TRIBUNE poll of analysts over the weekend yielded a median estimate of 5.0 percent for August inflation, within the 4.8 to 5.6 percent forecast given by the Bangko Sentral ng Pilipinas (BSP) last Thursday. If the August number matches the poll consensus, the median estimate will be higher than the 4.6 percent print in July 2023 but lower than the 5.4 percent inflation rate in June 2023. The Philippine Statistics Authority is expected to release the August inflation data on Tuesday, 5 September. Bank of the Philippine Islands's lead economist Emilio "Jun" Neri Jr. said higher prices of liquefied petroleum gas (LPG), kerosene, diesel and vegetables likely drove the Consumer Price Index much higher month-on-month. "Lower electricity (and) other food items may offset some of this," Neri said in an email to Daily Tribune. Rizal Commercial Banking Corp. chief economist Michael Ricafort said that the country's higher local palay and rice prices are one of the "main catalysts" for the August inflation print due to weather disturbances in most Southeast Asian countries affecting rice exports. He added that the agriculture damages caused by tropical storms in Northern and Central Luzon likewise affected the prices in the country. Ricafort likewise attributed the higher fuel prices and depreciating Philippine Peso against the US Dollar to the slightly higher inflation rate for August. "However, these are offset by mostly softer economic data in China and other countries, as partly weighed by higher inflation that reduced household spending and higher interest rates that led to higher borrowing costs," Ricafort said in a Viber message. Security Bank's senior assistant vice president and chief economist Robert Dan Roces also shared the same insights with other economists, saying that the primary factors contributing to the slight increase in the August inflation print are fuel and food prices. "Although the current diesel pump price is significantly lower than the P75 per liter average recorded in June of the previous year, food and fuel prices remain the main drivers of inflation. Notably, farm gate prices of other food items decreased in August compared to July," Roces said in an email. Despite these factors, Roces said the retailers may either be reluctant to reduce current prices or the price reduction price may be taking some time. Roces also underscored that the current inflation increase is mainly driven by the price of rice, which has recently surged by up to P10 per kilo. "Looking ahead, we still see that inflation will fall into the Bangko Sentral ng Pilipinas (BSP) target range of 2 percent to 4 percent by the fourth quarter of this year, barring sustained spikes in rice and fuel in the remaining months of 2023," Roces said. China Banking Corp. chief economist Domini Velasquez said core inflation is expected to continue its downtrend to around 6.0 percent in August despite the projected higher headline rate. "If realized, we do not expect BSP to react immediately to the expected inflation print with higher policy rates. Shocks for August were largely supply-side but have not, so far, detailed the inflation path toward the target range in (the fourth quarter). We still expect inflation to fall within the BSP's target by November," Velasquez said. The post Analysts predict inflation rate at around 5.0% for August appeared first on Daily Tribune......»»
Finance, sustainability driver
The ING-FINEX CFO of the Year Award is set to recognize the vital role of finance stewards as leaders and drivers of sustainability. On its 17th edition, the longest-running and most prestigious award for CFOs will underscore the role demanded of finance chiefs by today’s evolving times, wherein CFOs must step up and take charge in leading a company into a sustainable, successful future. According to British multinational professional services network Deloitte, many CFOs have yet to recognize the importance and the impact of sustainability despite increasing pressure on companies. Most of the CFOs’ reporting work remains limited to financial key performance indicators, even if the value of an organization far exceeds what balance sheets suggest. Thus, with finance departments proving integral in integrating sustainability measures into standard processes, CFOs are not only key stakeholders in a company’s successful transition to a sustainable enterprise, they are in a prime position to take the lead. Finance chiefs can also drive sustainable growth by making informed financial decisions that take into account environmental, social, and governance factors. The “Leadership and Sustainability in Numbers” theme celebrates CFOs who have successfully kept up with the times, leveraging their strategic savvy and financial expertise to foster innovation, mitigate risks, and create long-term value for their organizations, the planet, and society. The expanding role of modern CFOs is also reflected in their four core qualities, which are likewise upheld by the ING-FINEX CFO of the Year Award that recognizes the best of the best in finance. As catalysts who implement strategy and steer operations, CFOs can stimulate the timely transition to sustainability. Its principles can also be promoted by finance chiefs across organizations as strategists who set goals and stewards who manage systems. Lastly, as operators, CFOs must ensure to report non-financial information, given that environmental impacts factor into more C-suite decisions. The finance team, led by CFOs, are expected to quickly access, transform and interpret this vital data. The post Finance, sustainability driver appeared first on Daily Tribune......»»