BPI s Q3 earnings expand on better revenues, bigger customer base
The bank’s net income in the first nine months of 2022 amounted to P30.5 billion due in part to lower provisions......»»
Skating out of stress, to feel free
Since the first patent for a roller skate was awarded in 1819 to a certain M. Petibled of Paris, roller skating has gone through a lot of development before evolving into what we know it now as a recreational and competitive sport. While sports such as speed skating, hockey and figure skating have been institutionalized, recreational roller skating has had its time in the spotlight over the years. Then Covid-19 happened in early 2020, and roller skating became popular again as a solo activity. Its resurgence continues post-pandemic for fitness and just for fun. [caption id="attachment_175690" align="aligncenter" width="525"] Skating is good for fitness. | Photographs Courtesy of Chai Timbungco[/caption] Skating to destress Sesilya Rosario Timbungco, nicknamed Chai, started skating using inline skates (meaning the wheels are in a straight line) with her older cousins when she was around seven years old. Then she studied figure skating for two years, starting at age nine, before moving on to other things. In 2020, she picked up inlines again because “ironically, it was safer to be out on the streets because there were almost zero cars” at the height of community lockdowns and social restrictions. “What I like about skating is that it makes me feel good about myself,” she tells DAILY TRIBUNE in an online interview. “It’s also an outlet for me because it allows me to physically destress. From a technical standpoint, I like skating because of the diverse disciplines under its umbrella -- ice skating, dance skating, derby, quad hockey, speed, park, vert, etc.” The 31-year-old skater, who works as an insights community manager at a software company adds, “Skating is good for fitness because it involves the coordination of your entire body, even if it doesn’t seem like it. It’s all about balance, especially when learning your edges! Once you nail the basics, you pretty much won’t forget how to do it — just like riding a bike.” “It’s a good fitness option, but like with all other sports, make sure it is safe for you,” she points out. “Generally, skating is for everyone. But if you have balance issues, are pregnant or have bad hip mobility, it’s best to consult your doctor.” Chai makes it clear that skating is a sport, even if you do it recreationally or as a hobby. “So there will be maintenance expenses,” she says. “If you don’t get any upgrades and sticks with a decent pair, maintenance won’t be that expensive. A good entry-level pair costs around P5,000 to P8,000. There are many other factors to consider, but that’s the base price for entry-level skates.” These days, she usually skates at the basketball court at their home, though she really misses skating outdoors. She considers Bonifacio Global City as one of the friendlier spaces for skating. If she has to go to the rink, she says she only goes to Rolyo Sk8house at the Circuit Makati. Chai is also a co-founder of the Everywhere We Skate PH community on Facebook, whose goal is to “help raise awareness about local roller skating and make skating accessible in all ways, little ways, that we can,” while “bringing in roller skating brands into the local scene.” Chai’s tips in buying your first pair of skates: Measure your feet. Measure in inches and in centimeters. Never ever correlate shoe size with skate size. Skates have to be snug, but not tight. If you’re in between sizes, always choose the bigger size. There will be workarounds to a slightly loose boot, but it’s impossible for you to use skates that are too small Buy good brands, even if it means buying them second hand. That doesn’t mean branded is always good, nope. Make sure you research before buying anything! There are reputable brands that make nice skates that are good enough as second-hands. If that isn’t an option, make sure you buy skates that are within your current skill level. For example, buying an advanced boot is not the best for a beginner who doesn’t have proper foundation yet. Try them out at the rink first (if you can) before deciding on a big purchase like our own skates. Make sure you learn how to read wheel hardness (it’s not hard), as well as the other components of your skates. Other than looking up what to buy, also learn about maintenance and how to make normal adjustments to your skate. When skating for the first time, Chai recommends doing these steps: Bend your knees. “I can’t stress this enough, but bend your knees,” she says emphatically. “It’ll save you from potential nasty falls!” Wear gear. Avoid slopes. “It’s a common misconception that slopes are good for beginners because they’ll help you roll faster. That’s true, but that’s why it’s dangerous for someone who doesn’t know how to stop yet.” Feeling of freedom Roller skating was likewise a childhood hobby for Raqs Regalado, a 39-year-old event manager and costume designer. “But it was during the pandemic that I fell back into it,” she says in another online interview, “Because I found my old pair of skates (that I got at a Japanese thrift shop back in college) while we were trying to Marie Kondo our place during the first few weeks of the lockdown.” Post-pandemic, Raqs can usually be found skating at the Bike Playground or at other indoor rinks around the Metro, and for outdoor skating, at BGC. “What I like about it most is the feeling of freedom it gives me and the friends I’ve made in this hobby,” she points out. “It’s good for fitness because it activates muscles you never even knew existed. Like it’s a whole different muscle group working when you skate.” “There are cheap, generic ones but cheap skates also mean cheaper materials were used,” she adds. “Skates manufactured by bigger, skate-focused brands will always be more expensive than the generic ones, but I think of it as investing on the quality of skates you’re getting. Your safety depends on it.” Raqs truly believes that everybody can skate. “But I wouldn’t force it on someone who does not want to. You have to at least be interested to try it and eventually find happiness in it. Once you find joy in skating, that’s when you start wanting to learn more.” She has found her kindred spirits on Everywhere We Skate PH when it was founded in 2020: “Chai reached out to me and told me about the online skating community they’ve build. Of course, I instantly joined. There were only about 50 members that time. A few months in, and they asked me to be one of the group admins. Now, we have over 10,000 members. We welcome skaters of all levels and skate enthusiasts. Our main goal is to have a safe space for healthy exchanges of skate-related information.” Raqs’ tips in buying your first pair of skates: Assuming that you’ve already tried rental skates at the public rink, and you really liked it and want to get into skating, then start doing your research on the particular skates that have aesthetically caught your attention. Check for materials used, reviews and after-sales services. If you can also determine what type of skating you want to immerse yourself in (such as outdoor cruising, aggressive skating, artistic skating, etc.), that would also be very helpful in choosing your first pair of skates. If you’re skating for the first time, Raqs has these suggestions for you to do: Get safety gear. Watch video tutorials on how to fall safely because knowing how to do so can save you from serious injuries. Remember: You may fall a lot specially as a beginner, but don’t worry, it happens to all of us. The post Skating out of stress, to feel free appeared first on Daily Tribune......»»
Michael Ted Macapagal: Making tracks in public service
If life were a train, then Michael Ted Macapagal’s has been quite a ride. Raised by a labor leader and human rights lawyer father who served the people of Olongapo, including the workers of the US American Base in Subic, Michael Ted Macapagal had always wanted to become a public servant. It took Ted, though, a long journey to reach his goal, first achieving success in the insurance field in the United States where he lived for 20 years starting in 1991. Today, he is the chairman of the Philippine National Railways, a position “that allows me to make a difference in the lives of my countrymen,” he shared during his recent visit to the Daily Tribune office in Makati. Ted, good-looking and affable, proudly spoke of a father, his namesake, Atty. Teddy C. Macapagal who, early on, exposed his son to a firsthand view of a gentleman who looked beyond himself and his personal interests, and instead dedicated his career to protecting the common man and bettering their lot. The elder Ted served as a city councilor for 10 years. In 1984, he ran for the Batasang Pambansa, and in the late 1980s, for city mayor. “In all these electoral processes, I was involved and saw for myself how my father related to the people. He was a sincere man who helped them in the best way he could. He provided free legal services to those in need,” Ted recounted. Ted grew up in Olongapo, his place of birth. It was in the neighboring province of Pampanga, though, at the Don Bosco Institute in Bacolor town, where he first studied, but he eventually returned home to Olongapo, where he finished high school at the St. Columban. Aiming to become a lawyer, he enrolled at the University of the Philippines in Diliman, where he majored in History, which he intended as his pre-law course. Not unexpectedly, he joined the Upsilon Sigma Phi, his father’s fraternity. He also joined rallies where he stood with those who wanted the retention of US bases in the Philippines, in keeping with the sentiments of his townsmen. “It was the one concern where the whole of Olongapo was united,” he recalled, “because the people’s livelihood was connected to the base and the American presence in the community.” As a lawyer who specialized in labor, his father himself handled cases for the base employees. In 1988, his father lost his mayoralty bid in Olongapo. He fought against his fraternity brother, Richard Gordon. Actually, the two had been fighting it out for decades. “Olongapo became too small for them,” shared Ted. “A vivid memory to me to this day was the night I cried after my father lost. I was heartbroken because, for the most part of my life, I saw him give his all to the people. Throughout all those years, I just loved assisting my father. I followed him whenever he visited his constituents. I was a witness to everything that happened to him, his conflict with his political adversary and the loyalty of the people who believed in him and saw in him the man who would change the face of politics in our city.” The elder Macapagal became OIC-Mayor in 1986, but only two months after he received his appointment from the new president because the incumbent mayor did not easily give up his post which he was required to vacate under the new revolutionary government. “The next local election was the most expensive political exercise that our family ever waged,” Ted recounted. “It was then that my father decided that I pursue a new life in the United States, away from politics back home. “All the while, my heart never left the Philippines. Even before I left, I promised myself I would return to continue what my father started.” First non-white president Ted stayed in San Francisco for 20 long years. He had a tough time at the beginning of his new life. “I started off doing odd jobs. I worked as a security guard, janitor and waiter in a pizza parlor. “I also guarded the heavy equipment in a construction site in San Francisco. Thievery was a problem in that kind of situation. We would sleep in a trailer. “I transferred to a construction firm because I found out it offered a bigger salary. But I didn’t know the technical aspects of construction. Once, I made a portable ladder, but it fell apart, for which I was scolded by the owner of the company. I was fired on my third day on the job. Too bad because it paid high.” Ted then decided to pursue another degree, one that would be more useful in the United States. He took up Human Resource Management, a four-year course at the University of California in Berkeley. When he finally entered the corporate world, his first job was as a clerk. It wasn’t long before he became Division President of Stewart Title Company, one of the largest underwriters in the world, with offices across the United States, and in some 80 countries around the globe. He was based in the San Francisco Bay Area. “I may have been the first non-white president,” he said. “And I was a division president for the whole of North America. I was the first Filipino to reach that level.” Of his trailblazing accomplishments, he shared, “I was able to bring cultural diversity to the company, which enhanced its value. I got the top post because I asked for a meeting with the president. I told him we were not diverse enough to appeal to the non-white clients, and there were many of them who were first-time home buyers. Then, I told him to make the rounds. He would see that none of the home buyers was white. They were of different ethnic groups. I told him that if he appointed me as vice president, I would give him multi-cultural buyers because I would appeal to them and they would be our first-time buyers. So, he appointed me, and one month later, he made me president.” As an adjunct, he lectured on the topic of title insurance and escrow procedures in several community colleges in and around the San Franciso Bay Area. Through it all, he chose to keep his Filipino citizenship. The ‘Railway President’ For all the successes he was enjoying, the Philippines beckoned. He felt he still had a mission to accomplish. “My father was surprised. He asked me why I would still want to go home when I was doing well in the States. I insisted, so I came back and I plunged into political life. I worked on difficult campaigns, like the one for Rodrigo Duterte.” Back to his first love and passion, the political arena, he was in his element and served as president of PDP LABAN in Olongapo City from 2016 to 2021. In 2022, he joined LAKAS-CMD as its local chairman. This engagement led to his original target, as his father had achieved in his lifetime — serving the people. This time, he would be appointed to key posts in the government. He became director of the Clark Board and Gulf Oil Philippines. He took his oath of office as chairman of the Philippine National Railways on 28 April 2023. It is a job in a government agency where he is confident “I could make a difference because I can see that President Bongbong Marcos is really intent on improving the railway system of the country. “On my part, I want to make a difference. I want to be able to contribute whatever I can to help the president to achieve that objective. I call him now the ‘Railway President’ because I consider him the father of the railway system in our country.” Of course, he noted that many plans have been formulated during the time of President Rodrigo Duterte. Moreover, he recognized that President Gloria Arroyo “navigated our country through the global crisis. I was in the United States when the global economic crisis happened, and the Philippines was one of the countries spared, and I give credit to her. The economic fundamentals were very strong during her time. Being an economist, she was there at the right time when the country needed her the most.” With President BBM at the helm, he is confident “we will be able to push through with our development plan and finish the projects we have started, like the North-South Commuter Railway, which is a 147-kilometer stretch from Clark to Laguna. We hope to have the dry run in 2026 and it will be fully operational in 2027.” He also looks forward to the completion of the Bicol South Long Haul project. He is equally hopeful for the North Long Haul, the Subic-Clark and the Mindanao railways. He clarified that “we are now talking with the proponents, while some negotiations are being undertaken.” Working boots and a hard hat It would seem that this successful insurance executive was out of place in the railway sector. He pointed out, though, that “coming from the outside, I have the technical advantage of being able to look outside the box. So, I’m looking at it from outside the box, looking in. I am able to see the problems that need to be fixed. Stoppage is one of the problems so we have a bus augmentation program. We will also deploy UV Express units. We are closely coordinating with the LTFRB to provide emergency alternative transportation.” On the other hand, his exposure to people of all backgrounds from his youth, being his father’s son, has given him the advantage of “knowing how it is to be one of the boys. Something that I also experienced in the United States. “When people ask me what my management style is, I tell them straight I like to go down to the ground. I like hands-on supervision. I want my hands to be dirty. If you open the trunk of my car, you will find my working boots and my hard hat. I enjoy going to the construction sites and seeing for myself the progress, the problems, whatever it is that needs to be attended to. “Finally I want those working in the field doing the most difficult tasks to be satisfied and never to be hungry. Gusto ko, busog sila lagi. I am not happy when I get invited by the constructors and I am honored with a feast-like lunch or dinner, and not knowing what the workers are eating. I am on a diet anyway, so I make sure that my hosts bring the food to where the workers are eating. I can only eat so much and I would rather that the workers and the staff are full and happy. I am vocal about my displeasure when the construction workers are not eating the same food that is served to me. I may not be able to invite them to where I am eating but I can have the food brought to them.” Smiling from heaven Without a doubt, the old man Atty. Teddy C. Macapagal is smiling happily from his heavenly perch. He had served his fellowmen well, but he had done right as well by raising a son who took after his heart, to whom service to the people and compassion for the less fortunate matter more than any personal gain. His father, according to Ted, “died a broken man at the young age of 63. But whatever he lacked in longevity and riches, he made up for it with his compassion for others, for the free legal services that he gave to the people of Olongapo. “If you didn’t have money, you went to him because he was generous with his time and expertise. He would even give you some cash to use for your transportation fare to go home. That was my father. “The people whom he helped in turn would come to our home and bring him gifts like eggs, fruits, fish, vegetables and native chickens that they raised in their backyards. My father accepted them all. When I came home and saw all this, I teased him and said that he should probably open a sari-sari store so he could resell them. “Of course, we had a good laugh. But beyond the laughter, we both knew in our hearts that doing good to one’s fellowmen is its own reward and nothing in this world can take the place of personal fulfillment for having put a smile on people’s faces because you somehow made their lives better. “I am grateful that I have been raised by such a great father.” The post Michael Ted Macapagal: Making tracks in public service appeared first on Daily Tribune......»»
NBA Draft prodigy Wembanyama set for commercial bonanza
Victor Wembanyama is only 19 and has not played a minute in an NBA jersey but the French teenager is poised to land an array of lucrative deals likely to make him one of the most commercially successful athletes in history. Wembanyama will take center stage at the NBA Draft in Brooklyn on Thursday when the gifted 7ft 4in (2.24m) center widely viewed as a once-in-a-generation basketball talent is set to be chosen with the number one pick by the San Antonio Spurs. Already, Wembanyama is being tipped to potentially land an improved $100 million contract with US sporting goods behemoth Nike, eclipsing the $90 million offered to LeBron James when he entered the league in 2003. If the $100 million figure comes to fruition, it would be the biggest contract ever handed to a player who has not yet played in the NBA. Sonny Vaccaro, the legendary 83-year-old marketing executive who signed Michael Jordan to Nike and Kobe Bryant to Adidas, believes Wembanyama's unique talent could command "historic" riches. "This is unique. But a deserved unique," Vaccaro told AFP. "In my lifetime of evaluating and making financial prices for athletes, I've never seen anything like it. This kid will make history." Nike, which already has a deal with Wembanyama, has hinted at its strategy to make the Frenchman a global superstar. "Think (Victor Wembanyama) will change basketball? Think bigger," Nike wrote in a social media post after this year's draft order was revealed last month. Wembanyama's mammoth Nike deal will likely be the first of many, according to Steve Rosner of 16W Marketing, who predicts multi-million dollar deals in areas such as trading cards and other derivative products. Unique endorser "Victor is going to be one of those guys that are going to be able to have a nice endorsement portfolio before he ever plays a second in the NBA," Rosner said. "Because of all the promotion and the hype coming up leading up to this, he'll be a unique endorser as well, as far as being able to have these deals in place before he steps on an NBA court." In decades gone by, such a commercial bonanza for a foreign NBA player would have been unthinkable. Overseas stars such as Hakeem Olajuwon, Dirk Nowitzki, and Pau Gasol aroused little interest among sponsors. "Madison Avenue prefers an American guy," consultant Marty Blackman remarked in 1995 when commenting on how Olajuwon had failed to earn the sort of endorsement deals enjoyed by American players despite leading Houston to a second straight NBA championship. Victor Matheson, a professor at Holy Cross University, says that began to change in 2002 when China's Yao Ming entered the league. "Yao Ming was important, because not only was he a big name within the US, but he really opened up the Chinese market to the NBA as well," Matheson said. Today, the NBA's overseas fan base is larger than the entire population of the United States. According to Forbes magazine, Giannis Antetokounmpo, two-time NBA Most Valuable Player and an NBA champion in 2021, earns more in off-court deals -- $45 million – than the salary paid to him by the Milwaukee Bucks of $42 million. "Victor can open up new markets," Matheson said. Rosner said Wembanyama's international profile is also likely to make him an attractive pitchman for multinationals such as Coca-Cola, McDonald's or Visa, who all signed deals with Yao. A world game now Twenty years ago, playing for a small-market NBA team such as San Antonio could have potentially diminished Wembanyama's commercial appeal. However, Vaccaro believes the global reach of the NBA and the rise of streaming and social networks have changed the dynamic. "It's a world game now, so it doesn't matter really," said Vaccaro. It may take time for Wembanyama to fully maximize his earning potential, though. The French prodigy and his entourage are in no hurry to cash in immediately. Wembanyama's agent, Bouna Ndiaye, who has represented numerous French NBA stars such as Rudy Gobert, Nicolas Batum and Evan Fournier, says the priority is basketball. "What we're trying to do, first of all, is make Victor rare," Ndiaye told ESPN. "We don't want him all over the place. We don't want to have 20 partners," Ndiaye said. "Victor is rejecting some rich, million-dollar deals right now because he wants to focus on basketball." Commercial partners, meanwhile, may also be reluctant to "give away the entire company to a player who actually hasn't played a single minute in the NBA", Matheson said. "I suspect they're going to be looking for a little bit more." Rosner, however, believes that if Wembanyama delivers on the court, commercial deals will be a formality. "Once he does everything on the court, then everything off the court will follow," Rosner said. Matheson echoed that position, stating that ultimately Wembanyama's fortune will be maximized through his achievements on the hardwood. "The reason that Jordan has become a billionaire is not that he signed one good deal but because his play over almost two decades meant that he could re-sign that deal and re-sign that deal and re-sign that deal," Matheson said. "In order to make LeBron James or Michael Jordan sort of money, it's not about signing that first deal. It's about showing what you can do actually on the court." The post NBA Draft prodigy Wembanyama set for commercial bonanza appeared first on Daily Tribune......»»
UBX beefs up financing arsenal with UNO partnership
Open finance platform UBX has partnered with UNOBank, Southeast Asia’s first full-spectrum digital bank, to make credit more accessible to micro, small, and medium enterprises nationwide. Through this collaboration, SeekCap will be able to further support MSME financing, while providing a wider platform for UNO Digital Bank to reach more customers. With the alliance, micro-entrepreneurs will be able to get financing even in the absence of formal financial data, utilizing the combination of alternative data and psychometric scoring, which further democratizes access to credit to provide the necessary capital to expand their business. This initiative is done through UBX’s loans marketplace platform, Seekcap. “SeekCap is the product of UBX’s desire to reach MSMEs, who traditionally, have no access to financing to grow their businesses because of the stringent requirements of banking. By democratizing access to loans, now with the help of UNO Digital Bank, we are not just contributing to the expansion of MSMEs but the economic growth of the Philippines as well,” UBX president and CEO John Januszczak said. UNO Digital Bank is South East Asia’s first full-spectrum digital bank licensed under the Bangko Sentral ng Pilipinas. It is one out of only six digital banks licensed by the BSP. A convenient alternative to traditional lending companies, SeekCap leverages its partners’ wide user base to offer loans to businesses. Its existing partners include leading online marketplace Lazada and online food and grocery delivery platform foodpanda, among many others. With the addition of UNO Digital Bank, microentrepreneurs will have a more seamless digital experience in their entire financing journey. The partnership makes it possible for potential borrowers to secure a loan term of 12 months and borrow as high as P250,000 without the need for collateral. Applicants without an approved loan need only check their inboxes for an invitation for a pre-qualified loan application to UNO Digital Bank to know which ones they can avail of for their business. “As one of the BSP’s accredited digital banks, UNO can guarantee that our loan offerings are accessible, simple, and offer relevant features for our customers. We are honored to work alongside UBX in carrying out inclusivity in the form of loan processing for MSMEs as this also plays a significant role in boosting the local financial ecosystem.” UNOBank CEO Manish Bai said. SeekCap is an online lending marketplace that offers an end-to-end lending platform solution from loan origination until collection. Through the digital platform, business loans may be processed in as fast as 24 hours, which is significantly faster than the minimum 30-day approval time for most banks. Seekcap brings lenders and borrowers closer via its platform, streamlining the process of getting a business loan while making financing more accessible for small businesses in the city. SeekCap has processed over P27 billion of business loans from more than 65,000 MSMEs. “Given that 99.51 percent of all businesses in the Philippines are MSMEs, SeekCap is in a position to make a significant change. By partnering with more and more financial players such as UNOBank, that opportunity grows even bigger,” Januszczak said. The post UBX beefs up financing arsenal with UNO partnership appeared first on Daily Tribune......»»
RCEP seen driving trade funds demand
The Regional Comprehensive Economic Partnership or RCEP among members of the Association of Southeast Asian Nations plus five other countries will help drive demand for business loans from Philippine banks, economists told the Daily Tribune on Thursday. “RCEP would expand the sources of cheaper imports for foreign and local investors, including small and medium enterprises or SMEs, that manage their respective global supply chains,” Rizal Commercial Banking Corporation chief economist Michael Ricafort said. Effective starting 2 June, RCEP aims to gradually reduce tariff rates on various goods from ASEAN members and other countries over 20 years. It is also seen as streamlining rules on intellectual property, telecommunications, financial services, e-commerce and professional services. Doing business smoothly Ricafort said these mechanisms will also allow foreign firms to do business in the Philippines more smoothly. “It would help attract more foreign direct investors to locate in the country as a production base, as well as an access point to bigger export markets of RCEP member countries in the region and other parts of the world,” he said. Aside from the Philippines, the 14 other trade partners in RCEP are Cambodia, Singapore, Vietnam, Brunei, Malaysia, Laos, Myanmar, Thailand, Indonesia, New Zealand, Japan, Australia, South Korea and China. New opportunities “RCEP will create new opportunities, expand business operations, and thereby improve the business environment for SMEs in the Philippines by which banks should benefit as well,” Security Bank chief economist Dan Roces said. RCEP members could generate total exports worth $5.2 trillion and a gross domestic product of $26 trillion, according to global business consultancy PricewaterhouseCoopers or PwC. However, Ricafort said local SMEs should adapt fast by improving their employees’ skills and business strategies. “RCEP would also mean increased competition for some local producers, including SMEs, in view of the influx of cheaper imports from other RCEP member countries for the coming years.” The Department of Trade and Industry had reported at least 52 percent of micro businesses and SMEs fully reopened in 2021. “The country’s membership in RCEP would be one of the sources of economic growth and recovery especially after the Covid-19 pandemic,” Ricafort said. The post RCEP seen driving trade funds demand appeared first on Daily Tribune......»»
Late appointment
It’s already the first week of June and still Malacañang has not made any major announcements as to the Cabinet revamp that was mentioned early this year by no less than President Bongbong Marcos. The reckoning period should have been last May when the one-year appointment ban on those who had sought national elective posts lapsed. By now, the President should have a free hand to choose from among his many supporters who ran in the last elections but did not make it. As early as the fourth quarter of last year, there were already several names floated for this and that department, some of them controversial for belonging to the hated opposition collectively known as the Yellows. And, yes, there was a collective cringe that could be felt across the country when names such as Mar Roxas were bannered as soon-to-be appointed. Because while we would want to understand the mindset of PBBM as one going after true unity, the problem is that “unity” alone is not really an acceptable virtue for the majority of our people to embrace the yellow brand once more. No, Mr. President, we can’t accept it, so please perish the thought. Also, a word of advice. Before you even consider the Yellows, you may want to look first inside your own base camp and address the issues of your loyal lieutenants and supporters who are now being sidelined. I believe you will be facing bigger problems than the yellow backfire if people like Attys. Larry Gadon and Glenn Chong are not given responsibilities as members of your Cabinet. These are the leaders who really fought for you, tooth and nail, and they gave everything they had just for you. Also, they have solidly been there, even when you were still not looking that presidentiable, standing by you and your family all through the years that you suffered and were abandoned by many. Your leaders like Larry Gadon have gone through hell and high water defending you and ensuring that your voice and your narrative are not drowned out by the vitriol and venom being spewed against Marcos’ name. Staunch is an understatement in describing Atty. Gadon, who has staked his profession as a lawyer to hold the trenches. Now is the best time to recognize them with the Cabinet appointment they deserve, not really as a reward for their fealty, but because it will be in the best interest of your administration to have them as your official subalterns. They have proven their hard-core loyalty, and you know very well how deeply dedicated they will be to helping you attain your vision. They should be top of mind for you now, rather than that outrageous notion of allowing the Yellows to return to power under your helm. Appoint them now, Mr. President. Before all hell breaks loose. Mark my word. The post Late appointment appeared first on Daily Tribune......»»
Stricter rules bind water firms in revised deals
Water concessionaires — Maynilad Water Services Inc. and Manila Water Company Inc. — will be governed by stricter rules under the amendment concession agreement with the government. Metropolitan Waterworks and Sewerage System Regulatory Office chief regulator Patrick Lester said the recently signed revised rules provided more stringent provisions to deliver better services to consumers. “Now the penalties for missing their service obligations will be bigger, unlike before. Their obligations used to be limited but now, non-revenue services are included,” Ty said in an interview with reporters on Wednesday. “Within the year, if they do not reach their targets based on the approved business plan, we can penalize them as well,” he added. Maynilad and Manila Water’s obligations include providing an uninterrupted usable water supply to consumers. Previously, the MWSS RO did not penalize the concessionaires’ non-revenue service failures. Ty, however, reiterated that changes are needed “to better serve the customers and make sure that the concessionaires are doing their jobs.” As stated in the new agreement, failure to meet any obligation for more than 15 days, or 3 days, in cases where public welfare is affected, can be a basis for the MWSS RO to impose financial penalties. In return, any penalized concessionaire needs to pay their duties within 10 days after receipt of demand from the MWSS RO. Ty noted that any penalties collected from the concessionaires will be distributed to consumers in the form of rebates. In case the concessionaires fail to follow the amended guidelines and maintain their obligations, Ty stressed that the MWSS RO has the option to get a third party to do the works of the concessionaires. Likewise, they may also recommend that the concession agreement be further improvised. Compliance assured In separate statements, both Maynilad and Manila Water vowed to comply with the directives of the MWSS RO. “We support the MWSS’s initiatives to improve our service to our customers. We have been in discussions with the MWSS Regulatory Office to fine-tune the Implementing Rules and Regulations to ensure these are under the terms of the Revised Concession Agreement,” Maynilad said. Meanwhile, Manila Water noted that the company has yet to receive the official notice from MWSS RO about the penalties, but it committed to abide by any directive issued by the regulator. Maynilad is the largest private water concessionaire in the country in terms of customer base. It is the concessionaire or the West Zone of the Greater Manila Area, which is composed of the cities of Manila, Quezon City, Makati, Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon all in Metro Manila; the cities of Cavite, Bacoor, and Imus, and the towns of Kawit, Noveleta, and Rosario, all in Cavite province. The Manila Water, on the other hand, provides service to about 23 cities and municipalities, including Makati, Mandaluyong, Pasig, Pateros, San Juan, Taguig, Marikina, most parts of Quezon City, portions of Manila as well as 14 towns of Rizal province. The post Stricter rules bind water firms in revised deals appeared first on Daily Tribune......»»
MWSS: Stricter penalties await water firms
Water concessionaires Maynilad Water Services, Inc. and Manila Water Company, Inc. will be governed by stricter rules under the amendment concession agreement with the government. Metropolitan Waterworks and Sewerage System Regulatory Office chief regulator Patrick Lester said the recently signed revised rules provided more stringent provisions to deliver better services to consumers. “Now the penalties for missing their service obligations will be bigger, unlike before. Their obligations used to be limited but now, non-revenue services are included,” Ty said in an interview with reporters on Wednesday. “Within the year, if they did not reach their targets based on the approved business plan, we can penalize them as well,” he added. Maynilad and Manila Water’s obligations include providing uninterrupted and usable water supply to consumers. Overhaul needed Previously, the MWSS RO did not penalize the concessionaires’ non-revenue service failures. Ty, however, reiterated that changes are needed “to better serve the customers and make sure that the concessionaires are doing their jobs.” As stated in the new agreement, a failure to meet any obligation for more than 15 days or 3 days, in cases where public welfare is affected, can be a basis for the MWSS RO to impose financial penalties. In return, any penalized concessionaire needs to pay their duties within 10 days after receipt of demand from the MWSS RO. Ty noted that any penalties collected from the concessionaires will be distributed to the consumers in the form of rebates. In case the concessionaires fail to follow the amended guidelines and maintain their obligations, Ty pointed out that the MWSS RO has the option to get a third party to do the works of the concessionaires. Likewise, they may also recommend that the concession agreement be further improvised. Compliance assured In separate statements, both Maynilad and Manila Water vowed to comply with the directives of the MWSS RO. “We support the MWSS's initiatives to improve our service to our customers. We have been in discussions with the MWSS Regulatory Office to fine-tune the Implementing Rules and Regulations to ensure these are under the terms of the Revised Concession Agreement,” Maynilad said. Meanwhile, Manila Water noted that the company has yet to receive the official notice from MWSS-RO about the penalties, but it committed to abiding by any directive from the regulator. Maynilad is the largest private water concessionaire in the country in terms of customer base. It is the concessionaire or the West Zone of the Greater Manila Area, which is composed of the cities of Manila, Quezon City, Makati, Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon all in Metro Manila; the cities of Cavite, Bacoor and Imus, and the towns of Kawit, Noveleta and Rosario, all in Cavite Province. Manila Water, on the other hand, provides service to about 23 cities and municipalities, including Makati, Mandaluyong, Pasig, Pateros, San Juan, Taguig, Marikina, most parts of Quezon City, portions of Manila as well as 14 towns of Rizal province. ### The post MWSS: Stricter penalties await water firms appeared first on Daily Tribune......»»
EU free trade pact eyed still
A free-trade agreement with the European Union is still being pursued by the Philippine government, as the Trade Department is pushing the resumption of the negotiations for the Philippines-European Union Free Trade Agreement or PH-EU FTA to bring in new avenues for economic growth and cooperation with one of the world’s largest single markets. On Wednesday, Trade Secretary Alfredo Pascual stressed the PH-EU FTA would mean a reduction or elimination of tariffs imposed on goods entering the EU, and will enhance the competitiveness of local products, making them more attractive to European consumers and therefore enabling micro, small and medium enterprises, and Filipino exporters to earn a bigger profit. “Ultimately, what we are focusing on is an enhanced market access for Philippine goods and services to the EU as this will allow exporters to diversify their markets, reach a broader consumer base, and increase their export volumes,” he said. Facilitate FDIs from EU Aside from the benefits to the export sector, the PH-EU FTA will facilitate the influx of foreign direct investments from EU countries, which the DTI sees as a huge contributor to knowledge transfer, job generation, and local industry development. “On 18 May 2023, I met with the Swedish Minister of Trade and International Development Cooperation, His Excellency Johan Forssell, where he expressed support for the Philippines’ interest in the retention of our GSP status and our re-application to the EU-GSP+, as well as the resumption of the PH-EU FTA negotiations,” Pascual said. According to Pascual, in his meeting with Forssell, the latter told him that the Swedish government is supportive of the Philippines’ endeavors as Sweden is a country that is pro-trade and pro-markets. Swedish companies Further, Pascual relayed that Swedish companies are now open to partnering with Philippine companies and are interested in cooperating in terms of technology transfer to support industry development and innovation, and skills upgrading. He said he welcomed Forssell’s expression of support with great optimism. Aside from the Swedish Minister, the European Union — ASEAN Business Council, also expressed support for the Philippines’ push for the resumption of negotiations last Monday during their meeting with Secretary Pascual. The EU-ABC serves as the voice of European businesses in the ASEAN region. Pascual also highlighted that the organization’s support would provide the needed boost to the country’s intent. “We are grateful for this support from the Swedish government and the EU-ABC, especially on the re-starting of the PH-EU FTA negotiations as we prepare to respond to the ongoing trend in economic growth and as we aim to make the Philippines a middle-income economy in the next few years,” he added. The post EU free trade pact eyed still appeared first on Daily Tribune......»»
Giant SpaceX rocket leaves crater, serious damage at Texas base
Flying chunks of concrete, twisted metal sheets, and craters blasted deep into the ground: the thunderous power of SpaceX's first test flight of Starship -- the biggest and most powerful rocket ever built -- inflicted serious damage on its Texas launch site. Repairing the damage from Thursday's unmanned test flight is expected to take months, potentially delaying further launch attempts and slowing the development of a rocket NASA plans to use on its upcoming Moon missions. SpaceX boss Elon Musk had said before the test that just getting Starship in the air without destroying its launch pad would be "a win." Luckily for Musk, the 390-foot-tall (120-meter) rocket successfully lifted off, climbing for about four minutes until it tumbled and exploded, well over the Gulf of Mexico. But SpaceX engineers may have underestimated the damage that Starship's 33 first-stage rocket engines would do. A few days later, the scene around the launch pad is one of desolation, an AFP photographer saw. During takeoff, SpaceX video showed a hail of debris being blasted as far as the Gulf of Mexico, over 1,400 feet (420 meters) away. According to local press reports, a cloud of dust floated over a small town several miles (kilometers) away. Photos of the launch site show the gigantic launch tower still standing while the rocket mount, which supports Starship before liftoff, damaged but still intact. Beneath it, however, lies a huge crater, images posted on social media showed. "The force of the engines when they throttled up may have shattered the concrete, rather than simply eroding it," Musk conceded Saturday on Twitter -- another company in his portfolio. Olivier de Weck, a professor of astronautics and engineering at MIT, told AFP that "the radius of debris and disturbance was probably bigger than anybody anticipated." "The main damage to the launch pad is underneath, where the flames impinge on the ground," he told AFP, adding that repairing the crater "will take several months." De Weck said that Starship's launch site, unlike others used for such large rockets, lacked a "water deluge system." Those are used to flood the pad with water, cooling it and absorbing shock and sound waves. The Texas site also lacks what is known as a flame trench -- tunnels which channel hot exhaust away from the pad. Such features come at a high price though, particularly when they have to stand up to the earth-shaking power of Starship. After Thursday's test, Musk said that SpaceX had begun building "a massive water-cooled steel plate to go under the launch mount." But it "wasn't ready in time," and engineers "wrongly" calculated that the pad could still withstand the test. Known for audacious goal-setting, Musk estimates that a next launch attempt could be carried out as soon as "one to two months." Scientist Philip Metzger, who previously worked for NASA on launch pad physics, said he thought the steel plate plan could have been "a good solution." "The problem," he added, "is that this is such a large rocket and it takes so long to get off the pad," that the heat from the rocket's 33 engines "possibly could melt the steel." That could be solved by pumping water through channels in the steel, "so long as they have a high enough flow rate," said Metzger, now a professor at the University of Central Florida. He said the approach would not entirely solve the problem of shock waves, but he believes it's possible Starship has been designed to be solid enough to survive. Designing a launch pad, Metzger told AFP, can be just as complicated as developing a rocket. The maiden launch in November of NASA's new mega-rocket, the SLS, also caused damage to its launch pad in Florida, notably knocking launch-tower elevators out of service. Before its next test flight, SpaceX will need to determine the exact problems behind Thursday's test. In video broadcast by the company, several of Starship's 33 engines appeared to malfunction. The rocket's two stages also did not separate as planned, forcing SpaceX to trigger a self-destruct mechanism. The private aerospace firm will also have to persuade the Federal Aviation Administration (FAA) to authorize a new flight, noted de Weck. The US agency, which is leading an investigation into the explosion, has confirmed that no injuries resulted from Thursday's test. It has said that no new tests will be approved if there is any threat to public safety. De Weck echoed Musk's evaluation of the trial, calling it "more a success than a failure." "The reason they're achieving these incredible capabilities," the MIT professor continued, "is because they are willing to take risks and break things. "But they learn from it, and improve very, very quickly." The post Giant SpaceX rocket leaves crater, serious damage at Texas base appeared first on Daily Tribune......»»
DICT, telcos meet on SIM deadline
The Department of Information and Communications Technology will meet with telecommunications companies and other stakeholders on Monday to discuss the status of SIM registration and whether to extend the deadline. In a radio interview on Saturday, DICT Secretary Ivan John Uy said that the meeting will focus on identifying the gaps in the registration process and finding ways to address them. Uy said that based on the pronouncement of telecom players, a huge chunk of the 168 million subscriber base is composed of “disposable” SIMs that are being utilized temporarily. SIM refers to the subscriber identity module that serves as a smartphone identifier. Registering SIMs would make it easier to crack down on smartphones being used for scams. “Their actual estimate is that active SIM cards are close to 100 million. If that is the basis, then we have about 78 million to 79 million registered SIMS. We are hitting almost 80 percent,” he said. Further, he said the meeting will be focused on the “bigger concern” in the registration process, including the lack of IDs of registrants and connectivity status in some areas. “Even if we extend the registration and we cannot assess the problem, then the problem will persist. We will be meeting on Monday to discuss that,” the DICT secretary stressed. According to the National Telecommunications Commission, 76,927,923 subscribers have already registered their SIMs as of 20 April 2023, or around 45 percent of the 168 million subscribers nationwide. Earlier, the NTC said they are not expecting that the SIMs of all subscribers will be registered as some of them are still undecided on making public personal data. Under the implementing rules and regulations of Republic Act 11934, subscribers with existing SIM cards have 180 days from the effectivity of the law to register their SIM cards, and the registration may be extended for a period not exceeding 120 days. The registration process for SIM cards started last 27 December 2022. The post DICT, telcos meet on SIM deadline appeared first on Daily Tribune......»»
SpaceX will try to launch most powerful rocket ever Monday
SpaceX plans to carry out its first test flight on Monday of Starship, the most powerful rocket ever built, designed to send astronauts to the Moon and eventually beyond. The launch is scheduled to take place at 7:00 am (1200 GMT) from the sprawling Texas base of the private space company owned by billionaire Elon Musk. Fallback times are scheduled later in the week if Monday's attempt is postponed. The US space agency NASA has picked the Starship capsule to ferry its astronauts to the Moon as part of the Artemis III mission, set for late 2025 at the earliest. Starship consists of a reusable capsule that carries crew and cargo and the first-stage Super Heavy booster rocket. The 164-foot (50-meter) tall Starship spacecraft sits atop the 230-foot tall Super Heavy rocket. SpaceX conducted a successful test-firing of the 33 Raptor engines on the first-stage booster of Starship in February. The Super Heavy booster was anchored to the ground during the test-firing, called a static fire, to prevent it from lifting off. The rocket has never flown in its full configuration, powered by the first stage. "Success maybe, excitement guaranteed!" Musk tweeted late Friday. NASA will take astronauts up to lunar orbit itself in November 2024 using its own heavy rocket called the Space Launch System (SLS), which has been in development for more than a decade. Starship is both bigger and more powerful than SLS. It generates 17 million pounds of thrust, more than double that of the Saturn V rockets used to send Apollo astronauts to the Moon. SpaceX foresees eventually putting a Starship into orbit, and then refueling it with another Starship so it can continue on a journey to Mars or beyond. The idea of a reusable launcher, Musk's broad strategy, is to reduce the price. Each Starship flight could eventually cost "less than $10 million," he said early last year. Other super heavy rockets under development include Blue Origin's New Glenn, China's Long March 9 and Russia's Yenisei. The post SpaceX will try to launch most powerful rocket ever Monday appeared first on Daily Tribune......»»
BPI s Q3 earnings expand on better revenues, bigger customer base
The bank’s net income in the first nine months of 2022 amounted to P30.5 billion due in part to lower provisions......»»
PBBM sees stronger, more effective Air Force under his watch
MANILA - President Ferdinand "Bongbong" Marcos Jr. guaranteed Friday his administration's resolve to make the Philippine Air Force (PAF) "stronger, bigger, and effective" under his watch.Marcos gave the assurance at the celebration of the PAF's 75th founding anniversary at Clark Air Base in.....»»
Globe s wider customer base delivers bigger Q1 profits
Globe reported a net income of P7.3 billion, an improvement of 11% year-on-year. Core net income improved a bigger 13% to P7.4 billion. .....»»
Globe backs digital projects of UnionBank
Globe Business said it supports Union Bank of the Philippines in the digitalization of its work from home setup through Globe Pocket WiFis, video conferencing tools and postpaid lines. The company also expanded its data center to accommodate both its digital initiatives and their bigger customer base......»»
Trainer likens Ancajas to & lsquo;wrecking machine& rsquo;
Due to his continuous training at the Naval Base in Cavite City, International Boxing Federation super-flyweight titleholder Jerwin Ancajas has gotten stronger, and bigger......»»
Milk tariff collections rise by 31% to P2.4 billion
Revenues raised by the government from various imported milk products jumped by 31 percent to P2.36 billion in 2023, the highest in at least eight years, from P1.8 billion in 2022......»»
JG Summit core profit soars in 2023
Core earnings of conglomerate JG Summit Holdings Inc. soared in 2023 following a significant turnaround in its airline business, with Cebu Pacific returning to full-year profit for the first time since the pandemic......»»
Big 4 Volleyball tilt marks successful inaugural season, eyes bigger tourneys soon
CEBU CITY, Philippines — The Big Four Volleyball Tournament wrapped up last weekend successfully at the Warehouse Sports Lab in Mandaue City. This grassroots volleyball tournament saw inaugural champions being crowned. The Subangdaku Trojans emerged as champions in the 13-under and the girls 14-17 divisions, while Cabancalan National High School ruled the 14-17 boys division. .....»»