ByteDance plans TikTok IPO in bid to win US deal
China’s ByteDance is planning a US initial public offering of TikTok Global, the new company that will operate the popular short video app, should its proposed deal be cleared by the US government, people familiar with the matter said on Thursday......»»
Lola Amour bassist Raymond King nibiya sa banda human sa 8 ka tuig
Raymond King, bahista sa indie-rock band Lola Amour, nipahibalo sa iyang pagbiya sa grupo. Niingon siya nga mopursue siya og “long-term plans” apan sa makasubo nga ang banda way labot niini. Si King nibutyag niini sa usa ka statement nga gibuhian niya pinaagi sa Lola Amour nga Facebook page sa Miyerkules, Marso 27. “Hey! This.....»»
Israel bombs Gaza, fights Hamas around hospitals
Israeli forces pounded besieged Gaza on Wednesday and fought Hamas around several hospitals, despite a UN Security Council demand for a ceasefire. Talks in Qatar towards a truce and hostage release deal involving US and Egyptian mediators have brought no result so far, with Israel and the Palestinian militant group blaming each other. READ: Israel.....»»
Philippines braces for La Nina, continues to deal with El Nino
MANILA, March 26 (Xinhua) -- The Philippines will continue to implement measures to lessen the impact of the El Nino weather phenomenon, as it braces for the opposite La Nina weather pattern, Philippine Science and Technology Secretary Renato Solidum said Tuesday. Solidum said in a news conference that the Department of Science and Technology's record showed that as of Sunday, 37 provinces across the country hav.....»»
TikTok Shop Launches TikTok Shop Business School to Help Digitize Filipino Entrepreneurs
TikTok Shop launched TikTok Shop Business School, a comprehensive one-day program for Filipino entrepreneurs that aims to equip them with the skills to grow their businesses in the digital sphere. The full-day program, which 50 TikTok Shop entrepreneurs attended, was comprised of master classes on Corporate Strategy and Business Model with Kim Lato, Founder and […].....»»
‘Sama-sama sa Angel’s Pizza’ TikTok Singing Contest Grand Finals: A resounding success
The inaugural “Sama-sama sa Angel’s Pizza” TikTok Singing Contest, an electrifying celebration of talent and creativity, reached its pinnacle with the Grand Finals held at Viva Café in Cyberpark Tower 1, Araneta City in Quezon City......»»
Phl booters eye revenge vs Iraqis
After a close loss to Iraq in Basra, embattled Philippines aims to see its upset plans through on familiar grounds when it faces the Asian power again tonight in the FIFA World Cup Qualifiers at the Rizal Memorial Stadium......»»
Vina Morales wants to do more theater after Broadway stint, plans moving to U.S.
Vina Morales shared that she’s currently working on her Green Card with sister Shaina Magdayao, which will enable them to live and work permanently in the US......»»
EcoWaste Coalition: True Radiance Comes from Within, Not from Skin Lightening Products with Mercury
23 March 2024, Quezon City. The toxics watchdog group EcoWaste Coalition, which has been tracking mercury in skin-lightening cosmetics in the Philippines since 2011, reiterated its support for the global effort to put an end to the persistent production, trade, and consumption of racist beauty products with mercury content that claim to whiten the skin and deal with other.....»»
'How do you deal with a neighbour...': Jaishankar slams Pakistan over 'industry level' terrorism
Singapore, March 24 (ANI): Emphasising the complex situation of dealing with a neighbour like Pakistan, External Affairs Minister S Jaishankar said that Islamabad uses terrorism as an instrument of statecraft and does not even hide from the fact. He affirmed that India will not skirt this problem anymore and the mood in the country is not to overlook the issue of terrorism. The EAM, who is in Singapore as part of his thre.....»»
Lady Bulldogs deal Golden Tigresses 1st loss
Flawless no more......»»
'How do you deal with a neighbour...': Jaishankar slams Pakistan over 'industry level' terrorism
Singapore, March 24 (ANI): Emphasising the complex situation of dealing with a neighbour like Pakistan, External Affairs Minister S Jaishankar said that Islamabad uses terrorism as an instrument of statecraft and does not even hide from the fact. He affirmed that India will not skirt this problem anymore and the mood in the country is not to overlook the issue of terrorism. The EAM, who is in Singapore as part of his thre.....»»
EcoWaste Coalition: True Radiance Comes from Within, Not from Skin Lightening Products with Mercury
23 March 2024, Quezon City. The toxics watchdog group EcoWaste Coalition, which has been tracking mercury in skin-lightening cosmetics in the Philippines since 2011, reiterated its support for the global effort to put an end to the persistent production, trade, and consumption of racist beauty products with mercury content that claim to whiten the skin and deal with other.....»»
DOT seeks inclusion in protected areas board amid Chocolate Hills issue
Department of Tourism Sec. Christina Frasco —INQUIRER.net file photo / Ryan Leagogo After the recent controversy surrounding a resort development near Chocolate Hills in Sagbayan town, Bohol, the Department of Tourism (DOT) announced plans to advocate for its inclusion in the national government’s Protected Area Management Board (PAMB). Tourism Secretary Christina Frasco stated during a.....»»
Donald Trumps $3.5bn windfall at stake in Spac deal showdow
The Financial Times, known for its in-depth coverage of global business, economics, and politics, is now offering a special subscription deal for its print edition......»»
Maine nag-react sa ‘blind item’ na tungkol sa host na suplada, mataray
BILANG tugon sa ilang netizens na nanghula at binanggit siya, nag-react si Maine Mendoza sa isang blind item na tungkol sa isang female TV host na na-ban umano sa isang beauty clinic dahil sa katarayan. Ang blind item ay ibinandera ng TikTok user na @basicpinay at as of this writing ay umaani na ito ng.....»»
Citicore Energy REIT doesn’t deny report of potential 30% stake sale
Citicore Energy REIT responded to a Biz Buzz article that claimed a “blue chip conglomerate” (BCC) was in negotiations to acquire “a little less than 30%” of CREIT in a deal that would be completed “in the coming days or weeks”......»»
Security risk
Nepal has just joined the growing list of countries that have banned video sharing app TikTok, which is owned by Chinese company ByteDance......»»
Indonesia bans goods transactions on social media platforms
Indonesia has banned goods transactions on social media platforms in a new regulation, its trade minister said Wednesday, as Jakarta aims to rein in direct sales on major platforms it says are harming millions of small businesses. Calls had grown in recent months for a regulation governing social media and e-commerce, with offline sellers seeing their livelihoods threatened by the sale of cheaper products on TikTok Shop and other platforms. "This trade regulation has been in force (since yesterday)," Trade Minister Zulkifli Hasan told a news conference in the capital Jakarta. He said social commerce platforms would have a week to comply with the new rule. "Any government would protect local small businesses," he said, saying the regulation was passed to ensure "equality in business competition". The regulation means social media firms will not be able to conduct direct transactions but only promote products on their platforms. "Social commerce can place ads like TV, but it mustn't be transactional. (They) can't open shop, can't directly sell," he said, without mentioning TikTok by name. Laws in the archipelago nation did not cover direct transactions through social media platforms such as TikTok, Facebook or Instagram before the new regulation. The new regulation is yet another setback for TikTok, which has faced intense scrutiny in the United States and other nations in recent months over users' data security and the company's alleged ties to Beijing. "Other countries are banning, we don't, (we're) regulating," Hasan said. Indonesia is one of the world's biggest markets for TikTok Shop and was the first to pilot the app's e-commerce arm. But Indonesia is now the first country in the region to act against the platform's growing popularity in social media commerce. The ministerial-level regulation -- an amendment to a trade regulation issued in 2020 -- did not need approval by lawmakers. Chinese technology giant and TikTok owner ByteDance and TikTok Indonesia did not respond immediately to a request for comment Wednesday. But a TikTok Indonesia spokesperson told AFP on Monday the ban would harm as many as six million local sellers who market their products on the platform. Meta -- which owns Facebook and Instagram -- did not respond to a request for comment. 'Markets are quiet' How the ban will work exactly remains unclear but experts said it could mean social media firms would have to obtain a separate approval for their e-commerce arms. "It could be that their license will be rearranged," said Tauhid Ahmad, executive director of the Jakarta-based Institute for Development of Economics and Finance. Offline sellers at Tanah Abang market in Jakarta applauded the government's decision. "The government should... dare to innovate given the current situation, where markets are quiet like this," said Stevanie Ahua, a 60-year-old wholesale denim jeans seller. She said her revenue had dropped by 60 percent in recent months as buyers turned to online shops. Others like 29-year-old cookie baker Panji Made Agung in Bali said he was disappointed by the ban. "For sellers like me, TikTok can be used for soft selling. We can become influencers and sellers at the same time," he said. Indonesia's e-commerce market is dominated by platforms such as Tokopedia, Shopee and Lazada but TikTok Shop gained a significant market share since launching in 2021. Indonesia, with 125 million users, is TikTok's second-largest global market after the United States, according to company figures. TikTok's chief executive Shou Zi Chew visited Jakarta in June, pledging to pour billions of dollars into Southeast Asia in the coming years. The post Indonesia bans goods transactions on social media platforms appeared first on Daily Tribune......»»
‘Regulate them’: Hard-up Indonesia traders urge TikTok sales ban
As clothing seller Hendri Tanjung struggles to hawk his tunics to Indonesian buyers outside his market shop, he says customers are turning to cheaper versions on TikTok, pummeling his income. The 35-year-old sells his wares at Tanah Abang, Southeast Asia's largest textile market, where sellers are desperately calling out to passersby. The market in the capital Jakarta is less crowded than usual, with some outlets shuttered, as many of its thousands of merchants selling products made in factories or by tailors and weavers complain about the impact of TikTok's booming e-commerce arm on their business. "We want the government to close TikTok Shop, or at least regulate them. I feel bad for my employees," said Tanjung. Indonesians spent more money on the Chinese-owned app than anywhere else in the region over the past year, as TikTok Shop rapidly gained a substantial regional market share and millions of sellers since its 2021 launch. But government ministers in Southeast Asia's biggest economy have threatened to ban the app outright because of its impact on local sellers, including those at Tanah Abang who rely on offline buyers. Tanjung said a tunic he sells at 60,000 rupiah ($3.90), can be found for 40,000 rupiah on TikTok Shop, undercutting his business. "I don't know where they source their products to sell at such low prices. Ours are our own products and we cannot sell them at that price," he said. After a daily revenue drop of more than 80 percent from 30 million rupiah ($1,948) to five million ($324) in recent months, he was forced to lay off five of his 30 employees. Laws in the archipelago nation do not cover transactions through social media platforms such as TikTok, Facebook or Instagram. But President Joko Widodo said new regulation on social media transactions could come as early as Tuesday. The draft regulation, expected to be presented soon after Widodo said Monday it was "being finalized in the trade ministry", will aim to curb what Jakarta says are monopolistic practices. Level playing field Experts say such regulation would create a level playing field for local businesses. "The key is to regulate social commerce to be on par with e-commerce and traditional offline retailers," said Nailul Huda, a researcher at the Institute for Development of Economics and Finance. "The government should enhance protection for local products by tightening regulations on imported goods and offering disincentives for imports." TikTok has criticized calls for a ban, saying it would harm Indonesian merchants and consumers. "Close to two million local businesses in Indonesia use TikTok to grow and thrive through social commerce," Anggini Setiawan, TikTok Indonesia's head of communications, told AFP earlier this month. Indonesia is TikTok's second-largest market, with 125 million users, according to company figures. It is owned by Chinese tech giant ByteDance. The country represented 42 percent of TikTok's $4.4 billion regional gross merchandise value last year, according to Singapore-based consultancy Momentum Works. TikTok's chief executive Shou Zi Chew visited Jakarta in June, pledging to pour billions of dollars into Southeast Asia in the coming years. But the market sellers want TikTok's rise restricted. Atinah, a 21-year-old who sells clothing, said she could no longer hope for high weekend sales at her shop at Tanah Abang, which used to bring in around 10 million rupiah per day. "We are happy if the government can regulate TikTok Shop since now we can only make around three million rupiah on weekends," said Atinah, who like many Indonesians goes by one name. "Buyers always compare the prices here with what they see on TikTok Shop." The post ‘Regulate them’: Hard-up Indonesia traders urge TikTok sales ban appeared first on Daily Tribune......»»
EU hits TikTok with big fine over child data
A European Union regulator hit Chinese-owned social media platform TikTok with a 345-million-euro fine over child data breaches on Friday, in the bloc's latest salvo against the business practices of tech titans. The fine, equivalent to $369 million, is the culmination of a two-year inquiry by Ireland's Data Protection Commission (DPC). The Irish watchdog, which plays a key role in policing the EU's strict General Data Protection Regulations, gave TikTok three months "to bring its processing into compliance" with its rules. The DPC in September 2021 began examining TikTok's compliance with GDPR in relation to platform settings and personal data processing for users aged under 18 years old. It also looked at TikTok's age verification measures for persons under 13 and found no infringement, but found the platform did not properly assess the risks to younger people registering on the service. The regulator highlighted in its ruling Friday how children signing up had TikTok accounts set to public by default, meaning anyone could view or comment on their content. It also criticised TikTok's "family pairing" mode, which is designed to link parents' accounts to those of their teenage offspring, but the DPC found the company did not verify parent or guardian status. Ireland is at the centre of the GDPR regime because Dublin hosts the European headquarters of TikTok and the likes of Google, Meta and X, formerly Twitter. In May, the DPC fined Meta a record 1.2 billion euros for transferring EU user data to the United States in breach of a previous court ruling. TikTok, a division of Chinese tech giant ByteDance, is extremely popular among young people with 150 million users in the United States and 134 million in the EU. TikTok 'respectfully disagrees' In response to the fine, TikTok said it "respectfully disagrees" with the verdict and was "evaluating" how to proceed. "The DPC's criticisms are focused on features and settings that were in place three years ago, and that we made changes to well before the investigation even began, such as setting all under 16 accounts to private by default," a TikTok spokesperson told AFP. The platform insists that it closely monitors the age of its users and takes action when needed. TikTok says it deleted almost 17 million accounts worldwide in the first three month of this year due to suspicions that they belonged to people under 13 years old. Earlier this month, the social media giant opened a long-promised data centre in Ireland, as it tries to calm fears in Europe over data privacy. GDPR came into force in 2018 and was the EU's toughest and most famous law on tech, ensuring citizens give consent to the ways in which their data is used. Friday's fine comes after the EU last week unveiled a list of digital giants -- including Apple, Facebook owner Meta and ByteDance -- that will face tough new curbs on how they do business. The post EU hits TikTok with big fine over child data appeared first on Daily Tribune......»»