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'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.....»»
Business groups laud passage of Salt Industry Development Act
Business groups Philippine Exporters Confederation Inc. (Philexport) and Philippine Chamber of Commerce and Industry (PCCI) welcomed the approval of a law that aims to revive the salt industry which is seen to support economic growth and help create jobs......»»
Creative economy grows to P1.72 trillion
The value of the country’s creative economy rose by 6.8 percent in 2023 from a year ago as the sector employed more people, according to the Philippine Statistics Authority......»»
'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.....»»
Top 10 e-commerce sites in the Philippines 2019 - ASEAN UP
With a dynamic economy and a large population proficient with digital technologies, the Philippines is a fast-growing market for e-commerce in Southeast Asia. Several websites and digital applications are already fighting for market share, with global, regional and national players. The growing connectivity of the Philippines, rapidly overcoming the countrys infrastructure difficulties, enable more and Continue reading &q.....»»
New Year celebrations at Panigan-Tamugan River prompt conservation call
The New Year celebrations at Panigan-Tamugan River in Davao City have sparked concerns from the environmental group, Interfacing Development Interventions for Sustainability (Idis). The group expressed worry over the influx of people to the river, which falls within a Critical Watershed Zone designated by the Davao City Zoning Ordinance 2019 to 1018. Despite regulations prohibiting construction, maintenance of structures, and the conduct of business enterprises in the area, numerous individuals visited the river, leaving behind waste such as plastics, liquor bottles, and cigarette butts. This behavior violates environmental regulations and poses a threat to the watershed, which is a crucial source of drinking water for the city. Idis strongly advises the public against visiting the Panigan-Tamugan River and urges Dabawenyos to promote conservation and responsible tourism to protect the city's future water source. This call for conservation comes after the organization previously criticized a travel vlogger for promoting recreational activities in a protected conservation area......»»
Ilocos Sur micro-entreps get help from Bong Go
Senator Christopher "Bong" Go’s team, in coordination with Governor Jeremias “Jerry” Singson, Vigan City Mayor Jose Bonito Singson Jr., Caoayan Mayor Germelina Goulart and other local government officials, provided assistance to micro-business owners at the Vigan Conservation Complex and Caoayan municipal gymnasium in Ilocos Sur on Monday, 23 October. A total of 68 individuals received masks and snacks, while select recipients were given shoes, shirts and balls for basketball from Go’s team. Aside from the assistance from Go, the beneficiaries also qualified for the Department of Trade and Industry’s program that Go supported which provides livelihood kits to assist communities affected by crises in their recovery efforts. “Patuloy tayong sumusuporta sa mga programang pangkabuhayan lalo na yung mga makakatulong sa mga mahihirap na nahaharap sa krisis. Sa ating pakikipagtulungan, ang DTI ay nagbibigay ng mga negosyo kits sa mga kwalipikadong benepisyaryo at tinuturuan sila kung paano palalaguin ang kanilang mga negosyo para mapakinabangan ng pamilya ang kanilang kikitain. Nagbigay naman tayo ng karagdagang suporta sa mga benepisyaryo ng programang ito,” he explained in a video message. Also in attendance were DTI 1 Regional Director Grace Falgui-Baluyan and Provincial Director Charry Quodala. Go acknowledged how the COVID-19 pandemic adversely affected businesses in the country. In response to this, Go is one of the authors and co-sponsors of Republic Act 11960, known as the One Town, One Product Philippines Act. This legislation serves to institutionalize the OTOP Philippines Program, a strategic initiative tailored to nurturing the growth of Micro, Small, and Medium Enterprises throughout the country. The essence of the OTOP Program centers on the identification and promotion of distinctive products originating from various towns and municipalities. In doing so, it not only encourages entrepreneurship but also effectively harnesses local resources while preserving our rich cultural heritage. This approach facilitates increased visibility, market access, and enhanced competitiveness for micro-businesses, thereby making a substantial contribution to our country’s economic resilience. "Hindi lamang ito tungkol sa pag-angat ng MSMEs. Ito'y pagkakataon para sa bawat Pilipino, kahit saan man sila naroroon, na magtagumpay sa negosyo," he elaborated. "When communities take the lead in product development, we see more sustainable and culturally relevant outcomes. This is what OTOP aims to achieve," Go said. Go, chairperson of the Senate Committee on Health and Demography, emphasized the role played by Malasakit Centers in ensuring convenient access to the government's medical assistance programs. As part of his commitment to alleviating the struggles faced by individuals and families while improving their access to essential healthcare services, Go initiated the establishment of Malasakit Centers in 2018. This was institutionalized in 2019 through the passage of RA 11463, which was principally authored and sponsored by Go. Since its inception, the Malasakit Centers have helped more than seven million poor and indigent patients nationwide. Currently, there are 159 Malasakit Centers, including those at Ilocos Sur Provincial Hospital (formerly known as Gabriela Silang General Hospital) in Vigan City and Ilocos Sur Medical Center in Candon City. Moreover, Go also supported the construction of more than 600 Super Health Centers in strategic locations nationwide including four in Ilocos Sur as identified by the Department of Health which is the lead implementing agency. The initiative was a collaborative effort among lawmakers, LGUs and the DOH. According to Go, Super Health Centers are designed to focus on primary care, consultation, and early detection of diseases, further strengthening the healthcare sector in the country, especially in rural communities. It will also help decongest hospitals. Go, vice chairperson of the Senate Committee on Finance, also supported various infrastructure projects, including the road improvements in Magsingal and Narvacan; acquisition of medical equipment for public health facilities in Cervantes, Magsingal, Narvacan, Salcedo, Sinait and Sta. Lucia; acquisition of ambulance units in Burgos, Nagbukel, San Emilio and Tagudin; and construction of multipurpose buildings, halls and gyms in Bantay, Cabugao, Santa, Sigay and Sugpon. The post Ilocos Sur micro-entreps get help from Bong Go appeared first on Daily Tribune......»»
A positive difference
“The best way to find yourself is to lose yourself in the service of others,” Mahatma Gandhi once said. Marian Wright Edelman states, “Service is the rent we pay for being. It is the very purpose of life, and not something you do in your spare time.” Two memorable statements capture the essence of Attorney Kelvin Lester Lee, hailed by Dean Antonio La Viña of Ateneo School of Government as “one of the finest and most visionary individuals to have emerged from Ateneo Law School.” It’s no surprise that Atty. Lee became a Commissioner at the Securities and Exchange Commission in 2019. While his position may be formidable, those who have met him in person can attest to his kind-hearted nature and willingness to devote his time generously. When expressing his views, he displays a remarkable level of candor, always taking the time to carefully consider his words before speaking. Aside from his sense of humor, Lee possesses a remarkable ability to engage in meaningful conversations. When he speaks, he has a way of looking directly into your eyes, underscoring the significance of his words. Even in intense situations, he maintains a calm demeanor and is known to offer a comforting smile, lightening the atmosphere. In his role as Commissioner at the SEC, Atty. Lee assumes the responsibility of overseeing various crucial departments and divisions. These include the markets and securities regulation department, the information and communications technology department, the PhiliFintech innovation office dedicated to Philippine financial technology, and the international affairs and protocol division. Moreover, he holds authority over capital markets, sustainable finance, Fintech and information technology, and international affairs, ensuring their effective management and implementation. While the enormity of those tasks might induce vertigo in most individuals, Atty. Lee remains unfazed. “It is perhaps the best job I have ever had,” he admitted. “I enjoy making a positive change in the sector I am handling. I enjoy pushing innovations and encouraging improvements in the financial sector and capital markets.” With great responsibility, Lee adopts a heightened level of caution. Recognizing the potential impact of his words, he expressed the need to exercise carefulness in his public statements, as any statement he makes can influence the stock market. This awareness underscores his commitment to acting with prudence and considering the far-reaching implications of his words. Let’s delve into the life of Lee, who began his journey in the humble city of Davao, his birthplace. He embarked on his educational path at the Ateneo de Davao University for his grade school education, followed by his enrollment at Davao Central High School, then called Davao Chinese High School. After completing his schooling in Davao, he ventured to Beijing, China, where he pursued studies in the Chinese language and gained work experience with a foreign company. However, after two years, he returned to the Philippines and enrolled in Ateneo de Manila University to pursue a law degree. This journey showcases his diverse experiences and the foundation of his educational and cultural background. “The Ateneo de Manila entrance exam was the only one I could take that year when I came back from China,” he said, adding that he never dreamed of becoming a lawyer. “I just wanted to give it a try. And found I was a surprisingly good fit for it.” As a lawyer, he has five ideal lawyers. Only one is a foreigner: Sir Thomas Moore, an English lawyer, social philosopher, author, and statesman whom Roman Catholics venerated as Saint Thomas More. “He stood by his faith and principles,” he said. Fresh from hurdling the Bar exam, he worked at the Siguion-Reyna Montecillo and Ongsiako law firm, where he learned the importance of being enterprising and putting in a diligent effort to succeed. However, despite his professional growth, he decided to quit and return to his hometown of Davao, placing the deeply rooted value on family and prioritizing personal and familial responsibilities above career pursuits. As a father to two daughters, Atty. Lee expressed that fatherhood has had a profound impact on him, bringing about significant changes. He considers it one of the greatest blessings he could ever receive. According to him, the love that his children show him is genuine and unmatched. He believes that the love of young children is unparalleled. Experiencing this level of love is indescribable, knowing someone loves you unconditionally. This extraordinary bond makes fatherhood one of the most precious and fulfilling aspects of his life. “The love your kids show you is real,” he said. “You will never be as loved as you are by your young children. There is no feeling quite like it to know that someone loves you as much as that. That’s what makes it one of the best things.” Working in government “It is an honor to serve. Very few people get an opportunity to help the country and serve the president and the people,” said Lee, who is a former assistant secretary at the Office of the Executive Secretary in Malacañang, where he was also designated to sit on the Board of the Subic Bay Metropolitan Authority. Atty. Lee’s dedication to public service earned him well-deserved recognition in his field. In March this year, he received two international accolades for his role in driving the advancement of financial technology in the Philippine business sector, highlighting his visionary thinking and influential impact solidifying his reputation as a trailblazer in the field. In the 10th annual Asia-Pacific Stevie Awards, Lee was bestowed the Gold Stevie award for his outstanding contributions as a Thought Leader of the Year. These awards celebrate workplace innovation across all 29 countries in the Asia-Pacific region. From a vast pool of over 800 regional nominations, winners were selected in various categories, including the Award for Excellence in Innovation in Products & Services, the Award for Innovative Management, and the Award for Innovation in Corporate Websites, among others. “It feels great. It’s always wonderful to be recognized for all the hard work and changes you pursue at a government agency. And I was quite surprised to get the Gold Stevie Award, the highest level of the award for thought leadership. I feel so honored!” In the next decade, Atty. Lee, now 44, envisions continuing his career in law, possibly incorporating elements of technology, and hopes to stay actively involved in government work and make a significant impact by fostering meaningful transformation. “Working in government can be quite fulfilling. I encourage young lawyers and professionals to enter the arena and work in government to try and make a positive difference.” The post A positive difference appeared first on Daily Tribune......»»
Malasakit Centers: Haven for poor Pinoys
Amid prevailing financial hardships particularly among poor Filipinos, the pivotal role of Senator Christopher “Bong” Go’s Malasakit Centers comes to fore through the compelling narrative of 23-year-old Wally Bernardo of Cavite. A small baking business, which Wally runs with his partner, helps cover his dialysis expenses. His ordeal started in 2017 when a nagging backache unveiled an unsettling reality — a diagnosis of chronic kidney disease secondary to arthritis. Initially misdiagnosed with high blood pressure, he soon found himself restricted to the regular hum of dialysis machines, a routine that escalated from three times a week to an excruciating 12 times a week, as his condition worsened. As Wally’s medical bills soared, he sought intervention from a Malasakit Center, which led to a much-needed relief for his dire financial situation. Recounting the day his relatives approached the center, Wally said, After that we approached the social health service as I knew there was Malasakit here.” “My relatives went there and gave us our bill. It was processed at about noon. In the afternoon we were already discharged.” The indelible mark of gratitude is apparent in Wally’s words, “Thank you to Senator Bong Go, to his staff. We are really grateful for his help, in giving us a guarantee letter, in assuring those who have not much finances.” As chairperson of the Senate Committee on Health and Demography, Go persistently encouraged the public to avail themselves of the medical and financial assistance offered by the Malasakit Centers. Malasakit Centers bring together representatives from the Department of Social Welfare and Development, Department of Health, Philippine Health Insurance Corporation, and Philippine Charity Sweepstakes Office. These one-stop shops aim to support impoverished patients in reducing their hospital costs to the least possible amount. The Malasakit Centers Act of 2019, or Republic Act 11463, principally authored and sponsored by Go, has so far facilitated the establishment of 159 operational Malasakit Centers across the country. Meanwhile, Go’s outreach team, together with Mayor Elmor Vita and Councilor Rey Comendador, conducted a relief operation at the municipal gymnasium in Nagcarlan, Laguna last Tuesday, 17 October. Go provided masks, vitamins, shirts, and balls for basketball and volleyball for 450 market vendors. He also gave away shoes, and mobile phones to select recipients. The post Malasakit Centers: Haven for poor Pinoys appeared first on Daily Tribune......»»
Tourism, agribusiness need prioritization — PCCI
The country’s biggest congregation of business owners in the country, the Philippine Chamber of Commerce and Industry, said the Marcos Jr. administration must focus on the industries of tourism and agribusiness as they provide opportunities to Filipinos. Apart from the two, PCCI president George Barcelon said other industries that need further push and support are IT-BPO and creative industries, manufacturing, mining, and mineral resources, considered to be ideal and attractive for local and foreign investments and could amplify the economic growth and competitiveness of the country. “Some of our neighboring countries in ASEAN have really moved fast over the past 10 years. We had been lagging them in terms of exports, investments, and trade and we could not afford to be in this situation, so we really need to review our policies for us to be attractive to local and foreign investors,” Barcelon said. He said this will be the center of discussions at the upcoming 49th Philippine Business Conference & Expo set this month, which will gather industry leaders and practitioners to provide insights and share some prospects in what an interesting discussion on policies and regulations could be to attract investors and stimulate investments in these sectors. He said tourism and agribusiness are low-hanging fruits that the government should seriously prioritize and develop as it provides many opportunities for Filipinos. In 2022, the tourism and travel industry only contributed 6.2 percent to the country’s GDP lower than 12.7 percent in 2019 prior to the pandemic. The latest data from the Department of Tourism said that from 1 January to 29 September 2023, a total of 4,005,465 visitors arrived in the country, bringing in a total of P316 billion in revenue into the government coffers and hiring 5.35 million Filipinos in tourism-related jobs. The Philippine agribusiness, on the other hand, contributed only around 8.9 percent to GDP in 2022 where in fact its contribution could actually reach 35 percent. The mining and mineral sector, meanwhile, was able to boost the country’s growth by P102B in 2020 during the pandemic while the manufacturing sector contributed 17.2 percent in 2022. “As the private sector takes the lead in mapping out plans for Vision 2050, we hope our government will focus its attention on harnessing these sectors and address the challenges that hinder the country’s economic growth. We have the competitive advantage to become a first world economy by 2050, we just have to do extra work to achieve it,” said Architect Felino Palafox Jr., who chairs the 49th PBC&E happening on 25-26 October at The Manila Hotel. This year’s conference carries the theme Vision 2050: The Philippines A First-World Economy. It will initiate discussions and gather insights from visionary leaders and policymakers on how the country, given its strategic location, natural and human capital resources, and the many advantages it has, can become one of the industrialized and developed economies by 2050. The two-day event will interestingly gather prominent business personalities, national and local executives, and international leaders. The post Tourism, agribusiness need prioritization — PCCI appeared first on Daily Tribune......»»
2023 National Arts and Crafts Fair
The 2023 National Arts and Crafts Fair, a flagship platform for showcasing the rich cultural heritage of indigenous crafts, arts, and traditions, will be held from 4 to 8 October at Megatrade Halls 1-3 in SM Megamall, Mandaluyong City. It is being organized by the Department of Trade and Industry – Bureau of Domestic Trade Promotion in collaboration with the DTI Regional and Provincial Offices and supported by the Office of Senate President Pro Tempore Loren Legarda. The National Arts and Crafts Fair was conceptualized and initiated by Senator Legarda in 2016. As a national fair dedicated exclusively to our homegrown creative industries, the NACF is a significant initiative not only for preserving the country’s cultural heritage but also for promoting the economic viability of indigenous arts and crafts. Pre-pandemic, the five NACFs held from 2016-2019 were able to generate revenues of Php 114 million for its exhibitors. Back in the spotlight after a three-year hiatus, more than 200 micro, small, and medium enterprises from the country’s 17 regions have been carefully curated for the 2023 NACF. Their displays will feature traditional products such as Philippine fabrics, handwoven items, and handicrafts, as well as contemporary interpretations in the form of handmade ornaments, jewelry, woven apparel, and fashion accessories. Beyond the economic empowerment of indigenous communities and local artisans, the NACF also offers an educational experience through its daily program of activities. Attendees will have the opportunity to delve deeper into the cultural significance of our artistic traditions through workshops, demonstrations, and interactive exhibits. Aspiring entrepreneurs will find valuable resources and business insights during dedicated talks and sessions. Most significantly, the daily program will include feature presentations from the various Schools of Living Traditions from all over the region, providing an immersive experience into the rich and diverse cultural resources of our people. The post 2023 National Arts and Crafts Fair appeared first on Daily Tribune......»»
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......»»
Biggest franchise expo rides on growth
Franchising is expected to earn an unprecedented P30 billion by the end of the year, based on industry projections. During the Franchise Asia Philippines 2023 International Expo briefing on Monday, Philippine Franchise Association chairperson Sherill Quintana said that franchising revenues has reached P27 billion in the year to date, already surpassing the pre-pandemic 2019 revenues of P25 billion. With the growing local market, Quintana said global franchise brands should consider the Philippines as their “launching pad” in Asia. “The future is Asia, and the Philippines will be the launch pad for what the Asian economy will be able to seize for the global market,” Quintana said in a press conference in Quezon City. In the next five years, she said her group is expecting to reap 10 to 13 percent revenues for the industry over the next five years. PFA president Chris Lim said the exposition will be the biggest franchise show that the country hosted in the past 10 years. Franchise Asia Philippines 2023 International Franchise Expo will run from 27 to 29 October and the meetings of the World Franchise Council and the Asia Pacific Franchise Confederation from 24 to 30 October 2023. “More than a decade ago was the last time that a similar event was held in the Philippines, so it is really a very momentous occasion. And what a great way to really celebrate and to really show that we’re back in business, that the franchise industry in the Philippines is as vibrant as ever,” Lim added. SMX Convention Center taken up Franchise Asia Philippines 2023 overall co-chair Richard Sanz said this will be the first time for a franchise event to occupy the entire SMX Convention Center in Pasay City to showcase 1,000 local and global franchise brands from 26 countries. Further, he said 39 percent of the expo participants are new exhibitors with new concepts such as breastfeeding center, agriculture supplies, automated retail and convenience store, vape store and kickboxing gym. “This speaks of the vibrancy of the franchise sector with new players joining the market,” he said. Sanz mentioned that also 20 percent of the participants are international brands from Australia, China, Japan, Korea, Malaysia, Sinapore, Taiwan, Thailand and the United States. More than 50,000 exhibitors are expected to attend the expo. “This highlights the continued interest among Filipinos in franchising as an investment option,” Sanz said. The post Biggest franchise expo rides on growth appeared first on Daily Tribune......»»
MSMEs good payers — SB Corp.
The micro, small and medium entrepreneurs are being extolled by Small Business Corporation, an attached agency of the Department of Trade and Industry, for being good payers even though some of them have already closed shop because of the global contagion three years ago. During his guest appearance at the Daily Tribune’s digital show Straight Talk on Wednesday, SB Corp. president Robert Bastillo said almost one-third of the lenders catered to by SB Corp. have closed their businesses during the height of the Covid-19 pandemic. “The good thing is that these MSME lenders are still paying their debts even if their businesses were shuttered. These are indeed entrepreneurs as they want to have a good reputation and a good track record when it comes to debt. That is important for us. But still, the majority of the lenders are good payers even though some are delayed,” he said. The past-due rate of SB Corp. during the pandemic was 30 percent, considering that most funds in its portfolio were released during the pandemic. Past due rate manageable The past-due rate refers to the lenders who are delayed in their payments. Currently, the past-due rate of SB Corp. is from 20 to 25 percent, considered by Bastillo as healthy, considering that the country is just coping with the pandemic crisis. From 2019 to date, Bastillo said SB Corp.’s total direct MSME lenders are now at 55,000, while those courses through cooperatives, micro-finance institutions, and private financing companies — or what they call loan conduits — are now reaching 300,000. “SB Corp. lenders can borrow from P30,000 up to P20 million maximum. Lenders up to P5 million do not need collateral, but first-time borrowers can only borrow up to P3 million. If they are good payers, they can expand their loan after six months,” he said. No stringent requirements required In terms of process, SB Corp. does not require stringent requirements for MSMEs if they are only lending up to P100,000. “We only require other requirements, such as a Mayor’s Permit, among others if they are already asking more than P100,000. We have credit scoring in place based on the lender’s assets or annual sales. That’s a discipline in lending and a risk management procedure,” he said. SB Corp.’s fund being ushered to MSME lenders is coming from its corporate equity, being a corporation. Inadequate revolving fund “We have a capital of P10 billion, but what has been given to us for the past 28 years, was P2 billion. It’s a revolving fund that is not enough. The P10 billion was given in full in the last pandemic, but those are meant for dying MSMEs. It’s hard during that time,” according to Bastillo. He said even the salaries of their employees are coming from the revolving funds, as they are given by the government annual appropriations because they are a corporation that is supposed to earn money. “We live within what we earn. It is difficult in the sense that it is also challenging. How do you help and keep yourself afloat when everybody around you is struggling? That is our problem during the pandemic. But we are happy to say that despite that, we have a modest income, and we were able to serve MSMEs very fast,” he said. According to Bastillo, MSMEs with P100,000 to P3 million worth of assets are considered micro, MSMEs that have an asset of P3 million to P15 million are considered medium, while those with 100 million assets are considered large entrepreneurs. The country’s MSMEs dominate the entrepreneurial environment, accounting for more than 99.5 percent, 80 percent of which are micro. The SB Corp. is a government financial institution created in January 1991 under Republic Act 6977 or the Magna Carta for Small Enterprises, amended by RA 8289 in 1997 and RA 9501 in 2008. It has the primary responsibility of implementing comprehensive policies and programs to assist MSMEs in all areas, including but not limited to finance and information services, training and marketing. The post MSMEs good payers — SB Corp. 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......»»
Bong Go provides more support to TESDA graduates in Negros Occidental
Senator Bong Go congratulated Technical Education and Skills Development Authority trainees who graduated in Victorias City, Negros Occidental on Friday, 15 September. During the program held at the Victorias City Training Center, in partnership with E-Tech Global Training Academy, Go’s team provided shirts, grocery packs, and snacks to 75 graduates. In his video message, the senator seized the opportunity to applaud the graduates for their dedication and resilience in successfully accomplishing their training programs. “Binabati ko po ang lahat ng mga graduates ng Technical Education and Skills Development Authority ngayong araw na ito. Malaking tagumpay po ito para sa inyong lahat dulot ng inyong mga pagsisikap upang makumpleto ang inyong pag-aaral,” said Go. The senator also underscored the significance of vocational education in empowering individuals and fostering the progress of communities. He recognized the role played by TESDA in delivering accessible and high-quality training programs that equip Filipinos with the necessary skills to attain improved job prospects and actively participate in the country’s economic development. “We need more skilled workers in various industries, and I encourage you graduates to use your newly acquired skills to help our country's economy grow. You are now equipped to contribute to our society and make a positive impact in your respective communities,” Go encouraged. "Your hard work and commitment to honing your skills have not gone unnoticed. Today, you stand as a testament to the power of determination and the transformative impact of vocational education. I commend each and every one of you for your achievements," he added. Meanwhile, Go, chairperson of the Senate Committee on Health and Demography encouraged the public to seek the assistance of the Malasakit Center located at the Corazon Locsin Montelibano Memorial Regional Hospital located in Bacolod City. Go, principal author and sponsor of the Malasakit Centers Act of 2019, has championed the cause of providing convenient access to medical assistance programs for particularly poor and indigent patients. Currently, there are 159 Malasakit Centers established throughout the nation, which have already assisted more than seven million Filipinos, as reported by DOH. Go, vice chairperson of the Senate Committee on Finance, has backed numerous initiatives aimed at fostering economic growth and raising the standards of public service delivery within the province. These include the construction of a revetment, multi-purpose public facilities, and several road maintenance initiatives in Bacolod City; and the construction of a multi-purpose building and concreting of a local road in the town of Don Salvador Benedicto. Other initiatives that Go pushed for include the construction of multi-purpose buildings in Calatrava and Himamaylan City; road maintenance in Bago City; and construction of a new infectious diseases wing at the Teresita L. Jalandoni Provincial Hospital in Silay City. Last 25 August, Go’s team provided assistance to struggling small business owners in Cauayan. The post Bong Go provides more support to TESDA graduates in Negros Occidental appeared first on Daily Tribune......»»
Bong Go provides help to micro-entrepreneurs in flood-hit General Santos City
Senator Christopher “Bong” Go continues efforts to help boost the economic recovery of communities affected by calamities and other crises. His team delivered aid to flood-stricken micro-entrepreneurs in General Santos City on Thursday, 14 September. Go’s team held the relief operation at the Department of Trade and Industry (DTI) office. Eight small business owners received masks, vitamins, shirts, snacks, and balls for basketball and volleyball while there were also select recipients of shoes from Go. Meanwhile, with the aim of bolstering local communities and nurturing economic recovery, DTI distributed livelihood kits to provide additional support for the recovery of affected micro-businesses. “Ang programang ito ay ating isinulong noong administrasyon ni dating pangulong Duterte at patuloy na sinusuportahan ngayon para maipagpatuloy ang pagtulong sa ating maliliit na negosyante na naapektuhan ng sakuna at krisis,” Go said. “Tuturuan ang mga benepisyaryo na magnegosyo at bibigyan ng negosyo kits para palaguin ito. Masarap sa pakiramdam kapag pinaghirapan at pinagpawisan mo ang iyong negosyo at napalago mo ito. Ang maayos na kabuhayan ang isa sa mga magiging susi sa pagginhawa ng pamumuhay ng iyong pamilya,” he explained further. Moreover, Go reiterated his push for the passage of Senate Bill No. 188, which seeks to establish the Department of Disaster Resilience (DDR), The proposed SBN 188 aims to establish a Cabinet-secretary-level department to develop holistic measures for better disaster preparedness. In his video message, Go highlighted that, if established, the DDR would focus on three critical areas: disaster risk reduction, disaster preparedness and response, and recovery and building forward better. By concentrating on these significant aspects, the proposed department aims to improve the country's ability to mitigate risks, effectively respond to disasters, and facilitate a sustainable recovery process for affected communities. “Parati po akong umiikot sa buong Pilipinas dahil ‘yan po ang aking pangako, pupuntahan ko po kayo basta kaya ng oras at panahon ko… Sunog, lindol, baha, buhawi, putok ng bulkan pinuntahan ko po iyan lahat para makatulong sa abot ng aking makakaya, makabigay ng solusyon sa problema nila, makabigay ng proyekto na makakabenepisyo sa lugar, at makapag-iwan po ng kaunting ngiti sa panahon ng inyong pagdadalamhati,” he said. As chairperson of the Senate Committee on Health and Demography, Go reached out to residents with health concerns and advised them that they may visit the Malasakit Centers at Dr. Jorge P. Royeca Hospital in the city or South Cotabato Provincial Hospital in nearby Koronadal City. Go principally authored and sponsored Republic Act No. 11463, also known as the Malasakit Centers Act of 2019. The center is a one-stop shop where poor and indigent patients may take advantage of the medical assistance programs offered by the Department of Social Welfare and Development (DSWD), Department of Health (DOH), Philippine Charity Sweepstakes Office, and Philippine Health Insurance Corporation. To date, there are now 159 Malasakit Centers nationwide. Apart from the Malasakit Centers, Go has also been pushing for the establishment of more Super Health Centers across the country. In General Santos City, two Super Health Centers have been funded to be established. The Super Health Centers offer basic medical services, such as database management, out-patient, birthing, isolation, isolation, diagnostic (laboratory: x-ray, ultrasound), pharmacy, and ambulatory surgical unit. Other available services are eye, ear, nose, and throat (EENT) service, oncology centers, physical therapy and rehabilitation centers, and telemedicine, through which remote diagnosis and treatment of patients are made possible. “Sa mga kapatid ko, sa mga kapitbahay ko, mag-ingat kayo parati at magdasal tayo. Nandito lang kaming mga lingkod-bayan niyo at handang magserbisyo sa inyong lahat sa abot ng aming makakaya, puntahan niyo lang kami at handa kaming magserbisyo sa inyo sa abot ng aming makakaya,” said Go. As vice chairperson of the Senate Committee on Finance, Go has also supported several projects in the province including the construction of roads in Banga, Lake Sebu, Norala, Tantangan, and Surallah; acquisition of a dump truck for the local government of Norala; construction of riverbank protection in Koronadal City and T’boli; installation of street lights in Koronadal City, Norala and Tupi; and the construction of a slaughterhouse in T’boli. On the same day, Go’s team also provided similar assistance to micro-entrepreneurs also affected by heavy rains in Lutayan and Columbio, Sultan Kudarat. The post Bong Go provides help to micro-entrepreneurs in flood-hit General Santos City 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......»»
Women’s tennis returns to China after Peng Shuai boycott
Professional women's tennis tournaments return to China on Monday, less than two years after the WTA vowed to boycott the country out of concern for player Peng Shuai and risks to its players and staff. The WTA tournament opening Monday in the southern metropolis of Guangzhou will be the first in mainland China since 2019 -- and while no top-20 stars are expected to attend, it is set to attract plenty of attention. The WTA suspended activities in China in December 2021, when former world doubles number one Peng briefly disappeared after making -- and then withdrawing -- accusations of sexual assault against a senior Chinese leader. Saying the issue was "bigger than business", the tennis body insisted it would not hold events in China until Beijing guaranteed the safety of Peng. "Given the current state of affairs, I am also greatly concerned about the risks that all of our players and staff could face if we were to hold events in China," WTA chief Steve Simon said at the time. Peng published a long social media post in November 2021 saying she had been "forced" into sex during a years-long, on-and-off relationship with Zhang Gaoli, a married ex-vice premier of China 39 years her senior. She has since denied she accused anyone of sexual assault and described the situation as a "huge misunderstanding". Peng has not been seen outside China since the allegations were made. In April this year though, the WTA announced the resumption of tournaments, admitting its "principled stand... a powerful message to the world" had not been able "to bring about change". "It was, in my opinion, a complete capitulation, because it was pretty obvious to anyone who knows anything about China that China wasn't going to offer a free or fair investigation into the sexual assault claims," China-based sports expert Mark Dreyer told AFP. "I really do feel they've undone all that good will that they had gained by taking a principled stance." Dreyer added that the suspension had been largely symbolic as most international sporting events were put on hold during the pandemic under China's strict zero-Covid policy. - An economic choice - China is a crucial market for the WTA, given the quality of local infrastructure and investment as well as TV rights and sponsorship deals with mainland partners. "The choice to return is an economic one," Lionel Maltese, a former member of the executive committee of the French Tennis Federation, told AFP. "The income generated in China has a strong impact on the financing and income of all players." Before the pandemic, the WTA organized 10 tournaments in China each year -- with a total of $30 million in prize money -- out of more than 60 tournaments globally. These included the WTA Finals in Shenzhen, which in 2019 offered the largest tennis prize in history: $4.4 million. China is also home to five players on the world's top 100 list. They include 20-year-old Zheng Qinwen, world number 22 and recent quarter-finalist at the US Open, and 21-year-old Wang Xinyu, this year's French Open women's doubles winner. These stars have boosted the popularity of tennis in China, along with the market's economic potential. "If you have enough big names, the money will come, the tournaments will come," Dreyer told AFP. - 'Convictions' - The headliners in Guangzhou are likely to be world number 24 Magda Linette from Poland and Romania's Sorana Cirstea, currently world number 26. It is unclear if any players will be vocal about Peng, with Maltese saying there was "no leadership among players on ethical issues". "Very few athletes are taking a stand," he said. But France's Alize Cornet, ranked 99th globally, announced this week she would skip the tournament. "Staying true to my convictions and careful about my health, I decided that I will not be playing in China this year," she wrote on social media. Peng herself could make an appearance. After her initial disappearance from public view, she has made what appeared to be orchestrated appearances at multiple sporting events, including the Beijing Winter Olympics in February 2022. ehl-tjx/reb/qan © Agence France-Presse The post Women’s tennis returns to China after Peng Shuai boycott appeared first on Daily Tribune......»»
King Charles to descend Champs-Elysees on France trip
Royalty fans will get a glimpse of Britain's King Charles III and Queen Camilla as they descend the Champs-Elysees avenue in Paris on Wednesday at the start of a state visit, the French presidency said Friday. At around 3:00 pm (1300 GMT) on the opening day of the three-day trip, the royal couple, accompanied by President Emmanuel Macron and his wife Brigitte, will attend a ceremony in memory of World War I and lay a wreath at the Tomb of the Unknown Soldier under the Arc de Triomphe landmark in the French capital. Charles will then share a car, marked with the French Republic's insignia, with Macron to travel down the Champs-Elysees, as will Camilla and the French first lady, but in a separate vehicle, Macron's office said. Charles III and Macron will then meet for a one-to-one discussion at the Elysee Palace. Topics are to include biodiversity, climate change, and a November summit in Britain on artificial intelligence (AI), as well as the situation in the Sahel region of Africa and the war in Ukraine, the presidency said. Both couples will get together in the evening for a state dinner at the Versailles Chateau on the outskirts of Paris. The late Queen Elizabeth II and Prince Philip had lunch at Versailles during their first state visit to France in 1957. Charles is "appreciative of the idea of walking in his mother's footsteps", Elysee said. The choice of Versailles, a royal residence built by French king Louis XIV now owned by the French Republic, was also an opportunity "to make France shine" through one of the country's most-visited monuments, the presidency said. Up to 180 people will be invited to the dinner in the Hall of Mirrors -- 73 meters (240 feet) long and adorned with 357 mirrors -- that was built to illustrate Louis's absolute power and dazzle visitors. Swedish violinist Daniel Lozakovich will perform on the night. On Thursday, Macron and Charles will pay a visit to the Notre-Dame Cathedral, currently under restoration following a 2019 fire that destroyed its roof, and will also go to the Museum of Natural History to meet business leaders and talk about biodiversity. Queen Camilla and Brigitte Macron meanwhile will present a new French-British literary prize to be awarded for the first time next year. They will also travel to the northern suburb of Saint-Denis, home to a large ethnic minority population, and visit a center for fashion crafts founded by celebrity house Chanel in the up-and-coming 19th district of the capital. The royal couple then travels on to Bordeaux, southwest France, to conclude the visit that was originally scheduled for March but got postponed because of unrest in France over Macron's controversial reform of the French pensions system. The post King Charles to descend Champs-Elysees on France trip appeared first on Daily Tribune......»»