E-commerce, BPO bright spots for Philippines economy post pandemic
The Philippines can look forward to some potential growth areas after the pandemic in line with digital transformation and health investments, the Asian Development Bank said......»»
‘Trade with China should continue’
The Philippines should continue to pursue stronger trade ties with China despite rising tensions in the West Philippine Sea, according to the Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. and the Department of Trade and Industry......»»
EAM Jaishankar, Singapore PM exchange views on deepening engagement in fintech, digitalization, green economy
New Delhi [India], March 26 (ANI): External Affairs Minister S Jaishankar and Singapore Prime Minister Lee Hsien Loong exchanged views on deepening engagement in fintech, digitalization, the green economy, skills development and food security. EAM Jaishankar concluded his visit to Singapore on March 25. He was on an official visit to Singapore from March 23-25, the first leg of his visit to Singapore, Philippines and Mala.....»»
EAM Jaishankar, Singapore PM exchange views on deepening engagement in fintech, digitalization, green economy
New Delhi [India], March 26 (ANI): External Affairs Minister S Jaishankar and Singapore Prime Minister Lee Hsien Loong exchanged views on deepening engagement in fintech, digitalization, the green economy, skills development and food security. EAM Jaishankar concluded his visit to Singapore on March 25. He was on an official visit to Singapore from March 23-25, the first leg of his visit to Singapore, Philippines and Mala.....»»
Digital connectivity space tackled in amendments to National Building Code
A pending legislation at the House of Representatives amending the 47-year-old National Building Code of the Philippines would make it more responsive to the broadband connectivity demands of a digital economy, a citizen advocacy group said......»»
Billions for commercial tuna industry, crumbs for fisherfolk
Months of investigation by Bulatlat revealed that the booming commercial tuna industry in General Santos City, dubbed the Philippines’ “tuna capital,” favors industrial scale commercial fishing fleets at the expense of the livelihood of thousands of ordinary fisherfolk. The post Billions for commercial tuna industry, crumbs for fisherfolk appeared first on Bulatlat......»»
Extreme Heat as a ‘New Pandemic’: Thousands in PH Cancel Classes During ‘Hottest Year’
(Part 1 of 2) CEBU CITY, Philippines — The decades-old Gabaldon building of Leyte National High School in Tacloban City has narrow hallways, high and dark ceilings, and overcrowded classrooms. On hot and humid days, the rooms can feel stuffy and suffocating, prompting students like Dwight Lebrea, a 17-year-old Grade 12 student, to find ways.....»»
Hong Kong, Philippines work to enhance relations
Filipinos are slowly beginning to travel back to Hong Kong following continued efforts by the Hong Kong Economic and Trade Office to woo tourists from the Philippines, as well as renew and improve trade and economic ties between the two nations following the COVID-19 pandemic......»»
ADB approves USD 100 mln loan to support small and medium-sized enterprises in Sri Lanka
Manila [Philippines], March 19 (ANI): The Asian Development Bank (ADB) has approved a USD 100 million loan to provide small and medium-sized enterprises (SMEs) in Sri Lanka more access to finance and build their resilience to external shocks, such as the economic crisis and climate change. SMEs play a critical role in Sri Lanka's economy, contributing 52 per cent to the country's gross domestic product and employ 45 per c.....»»
Tech titan Amazon sees profit climb as cloud promises boon
Online retail colossus Amazon on Thursday said profit surged in the recently ended quarter on growing sales and more efficient deliveries, with its cloud business promising even better days ahead. The e-commerce colossus said it made a profit of $9.9 billion on sales that tallied $143.1 billion in the recently ended quarter, with more than half its operating income made from Amazon Web Services (AWS) cloud unit. Google parent Alphabet and computing colossus Microsoft this week reported rising quarterly profits, playing up demand for cloud computing enhanced with artificial intelligence. Investors, though, had hoped for better performance from Google Cloud causing the company's shares to slip. While Amazon Web Services (AWS) grew 12 percent when compared to the same quarter a year earlier, the unit's growth lagged that of rival cloud businesses operated by Microsoft and Google. "I remain very optimistic about AWS," Amazon chief executive Andy Jassy said on an earnings call. "There's a lot more there for us; then you look at the very substantial, gigantic new generative AI opportunity, which I believe will be tens of billions of dollars in revenue for AWS over the next several years." Amazon just weeks ago said it would invest up to $4 billion in AI firm Anthropic. The success of OpenAI's ChatGPT, a chatbot released last year that can generate poems, essays, and other works with just a short prompt, has led to billions being invested in the field. Anthropic agreed to use Amazon's chips to develop its next models and to use AWS for "mission-critical workloads." Amazon has already announced it aimed to soup up its Alexa voice assistant with generative AI, which the firm said would allow users to have smoother conversations. Retail rebound Amazon earnings "soared past expectations" in the quarter, according to Insider Intelligence analyst Zak Stambor. "We had a strong third quarter as our cost to serve and speed of delivery in our stores business took another step forward," Jassy said, adding its ad business grew "robustly" and AWS cloud computing business "continued to stabilize." "The retail giant's slowdown last year appears to be in the rearview mirror as it has embarked on significant cost-cutting throughout this year and sharpened its focus on key growth areas, such as its high-margin online marketplace and advertising," Stambor said. A top US antitrust regulator sued Amazon in September, accusing the online retail behemoth of running an illegal monopoly by strong-arming sellers and stifling potential rivals. "Our complaint lays out how Amazon has used a set of punitive and coercive tactics to unlawfully maintain its monopolies," said Federal Trade Commission Chair Lina Khan. Robots and drones Amazon said Thursday it will hire 250,000 full-time, part-time, and seasonal employees in the United States to handle shopping demand in the months ahead. Amazon said last week that it will expand drone delivery of certain purchases to a third US state as well as to Britain and Italy by the end of 2024. The US firm has installed a new robotics system in one of its Texas logistics centers, featuring technology like automated vehicles, mechanical arms, and computer vision technology. Amazon already uses 750,000 robots in its warehouses to speed up deliveries. "The better they get at delivery, the more it continues to grow the e-commerce market overall and Amazon's place within that market," said Insider Intelligence analyst Andrew Lipsman. But increased productivity via robots won't fix underlying Amazon worker issues, critics say. Amazon early this year eliminated some 27,000 jobs in a move it said at the time was necessary, after years of sustained hiring. Ads shine Advertising continues to be "a major bright spot" for Amazon and it has started using generative artificial intelligence to help sellers create "eye-catching" ads in its online marketplace, analyst Stambor said. Insider Intelligence expects Amazon's US advertising business to bring in nearly $34 billion this year a major leap from before the COVID-19 pandemic. The post Tech titan Amazon sees profit climb as cloud promises boon appeared first on Daily Tribune......»»
PBBM highlights Phl’s potential as manufacturing hub at Milken Institute Asia Summit
President Ferdinand Marcos Jr. touted the Philippines' thriving digital economy and potential as a manufacturing hub as he called on foreign investors to take advantage of the opportunities presented by the country in his opening remarks at the 10th Asia Summit of the Milken Institute in Singapore. Marcos said that the Philippines is one of the world's highest users of the internet and social media, with a growing number of customers using these platforms to discover and buy products and services. "This has led to the rapid growth of our e-commerce sector, which is now one of the fastest-growing trends in the Philippines," Marcos said. He also pointed to the country's educated and English-speaking workforce as a major strength, noting that the Philippines is the number one country of choice for the delivery of customer support and healthcare services. "We are also a major player in the global outsourcing industry, and we are committed to continuously investing in our human capital to ensure that our people remain globally competitive," Marcos said. In addition to its digital economy, Marcos also highlighted the Philippines' potential as a manufacturing hub. He noted that the country has a strong manufacturing sector, with a focus on electronics, garments, and footwear. "We are also investing in infrastructure to improve our connectivity and logistics, which will make it easier for businesses to operate in the Philippines," Marcos said. He invited foreign investors to take advantage of the opportunities presented by the Philippines' digital economy and manufacturing sector. Marcos also cited the country's strong economic fundamentals, strategic location, and diverse investment opportunities during the 10th Asia Summit. The Chief Executive said the Philippines is "open for business" and is committed to providing a conducive environment for foreign investors. "The Philippines is a resilient nation with a long history of overcoming challenges," Marcos said. "We are a people who are always looking forward, and we are confident that the future is bright for our country." Marcos said that the Philippines has "demonstrated remarkable resilience" in the face of global economic volatility. He pointed to the country's GDP growth of 7.6 percent in 2022, the fastest growth rate since 1976. He also said that the economy is expected to grow by 6 percent in 2023, citing data from the World Bank and the International Monetary Fund. Marcos attributed the Philippines' economic success to a number of factors, including prudent fiscal management, monetary policy, and strong domestic demand. The President also mentioned the recent regulatory reforms that have been passed, which are expected to encourage private investment. He also pointed to the country's strategic location in Southeast Asia and its membership in the Regional Comprehensive Economic Partnership (RCEP), the world's largest free trade agreement. "The Philippines is a gateway to the dynamic markets of Southeast Asia," Marcos said. "We are also a member of the RCEP, which gives us access to a market of over 2.2 billion people." Marcos then invited investors to consider the Philippines as a destination for investment. He highlighted the country's strategic location, membership in regional trade agreements, and the large market as some of the reasons why investors should choose the Philippines. The post PBBM highlights Phl’s potential as manufacturing hub at Milken Institute Asia Summit appeared first on Daily Tribune......»»
Multiple developments rise in Mandaue City
Mandaue City continues to look to the future with multiple developments that will usher the city towards progress. [caption id="attachment_178460" align="aligncenter" width="1280"] LUXURY living in the center of Mandaue City.[/caption] Mantawi Residences Mantawi Residences is RLC Residences’ first premium development in Cebu. It is strategically located in Ouano Avenue and promises spacious and bright home-upgraded units, ranging from one to three bedrooms and penthouse suites. These units all come with loggia — an extended living space where soon-to-be homeowners can comfortably relax while appreciating the Cebu City skyline. Hyper-sized indoor and outdoor facilities are spread out in its 1.3 hectares of amenity area. These include beach-inspired swimming pools, landscaped areas, jogging trails, a pet park, a spa and indoor amenities including a game room, a work lounge and a private theater. Its ground floor will also house global brands and upscale dining areas. Metro Cebu Expressway The 56.9-km long Metro Cebu Expressway is expected to solve the traffic congestion within Metro Cebu. The South to North expressway is divided into three segments including the Minglanilla — Cebu City — Mandaue/Consolacion Bdry portion; Mandaue/Consolacion Bdry. to Danao City section; and Naga City — Minglanilla component. Once completed, MCE aims to ease the movement of people and commerce in Metro Cebu’s Central Business Districts and economic/export and tourism zones. Cebu Bus Rapid Transit Bus Rapid Transit, a bus service with dedicated routes traversing a 13.8-kilometer road, aims to decongest Cebu roads. Buses will run on a priority lane — one in each opposite direction — while the rest will be opened for mixed-use traffic. New Cebu International Container Port The New Cebu International Container Port will feature a berthing facility that can accommodate two 2,020-ft. equivalent unit vessels. Built on a reclaimed area in Consolacion, NCIP is seen to aid in flourishing local business with competitive prices and increase economic opportunities for residents once entirely constructed and operational. It is expected to ease the increasing volumes the Cebu International Port handles and enhance Visayas Region’s flow of goods and services. Premiere Waterfront Development by Global City Mandaue Corporation The Global City Mandaue Corporation is developing a 101-hectare premier waterfront project along the Mactan Channel. It will feature office spaces, malls, luxury retail options, hotels, resorts and restaurants. Cultural spaces like galleries, museums and libraries will also rise. Pocket parks, pathways and playgrounds will complete the vibrant lifestyle experience. The project had its groundbreaking in May of 2022. The post Multiple developments rise in Mandaue City appeared first on Daily Tribune......»»
DTI wants stronger China-Phl alliance
Trade Secretary Alfredo Pascual wants tighter trade cooperation between China and the Philippines particularly in terms of investments. During the China (Zhangzhou)-Philippines Economic and Trade Cooperation and Exchange Briefing on Thursday at Century Park Hotel in Manila, Pascual underscored China’s role as its largest trading partner. China is the country’s largest source of imports and the third-largest export destination in 2022. The visit of President Ferdinand “Bongbong” Marcos Jr. to Beijing brought home investment leads amounting to $22.8 billion. The event included presentations from different bureaus and projects and a signing ceremony organized by the Embassy of the People’s Republic of China in the Republic of the Philippines and Zhangzhou Municipal People’s government. Investments welcome “We welcome investments from Chinese enterprises to the Philippines further to enhance the bilateral relationship between our two countries. Such investments can take advantage of the development momentum brought about by the Regional Comprehensive Economic Partnership or RCEP agreement to which the Philippines and China are signatories along with 13 other countries in the East and Southeast Asian Region,” according to the trade chief. Further, Pascual cited the country’s improving business climate given its strategic geographical location. It recently enacted reforms that will provide simplified procedures, enhance transparency, and promote investor-friendly policies. He also cited a range of sectors that would be potential investment destinations such as petrochemicals, agriculture, e-commerce, logistics, medical/health industries, green industries, tourism and education, among others. As the Department of Trade and Industry formally launched on Thursday Executive Order 18 of President Marcos Jr., seen to create green lanes for strategic investments that is expected to enhance the ease of doing business. These green lanes are vital to address the barriers across multiple regulatory agencies which usually hampers the realization of foreign direct investments in the country. “The China-Philippines investment relations of the past five years have laid the foundation for a prosperous future. Come and be part of our thriving economy, vibrant culture, and bright future. The stage is set, the opportunities are vast, and the time is now. Let’s make it Happen in the Philippines!” he said. The post DTI wants stronger China-Phl alliance appeared first on Daily Tribune......»»
Bright prospects seen for industrial property
Opportunities brought about by the pandemic in the areas of e-commerce, food and groceries, and other essentials are driving the growth prospects in the industrial property segment, according to a real estate consultancy firm......»»
E-commerce, BPO bright spots for Philippines economy post pandemic
The Philippines can look forward to some potential growth areas after the pandemic in line with digital transformation and health investments, the Asian Development Bank said......»»
Philippines beats India for back-to-back wins in women’s Asia ice hockey tiff
The Philippine women’s ice hockey team picked up where they left off after their opening win in the 2024 IIHF Women’s Asia and Oceania Cup with a 7-0 shutout of India at the Bishkek Arena in Kyrgyzstan on Wednesday......»»
Marcos: Philippines won’t be ‘cowed into silence, submission’ by China
“We seek no conflict with any nation, more so nations that purport and claim to be our friends but we will not be cowed into silence, submission, or subservience. Filipinos do not yield,” Marcos said. .....»»
Philippines sees increase in hotel bookings from overseas in 2023 — report
Hotel bookings from overseas rose in the Philippines in 2023, a report on hotel booking trends by hotel channel manager SiteMinder found......»»
Kris naka-survive na walang yaya sa loob ng 1 linggo, grateful sa mister
UNTIL now, naghahanap pa rin ng yaya ang aktres na si Kris Bernal. Ayon sa kanya, isang linggo na silang walang katuwang sa pag-aalaga sa anak nila ni Perry Choi na si Baby Hailee Lucca. Kaya naman, isang linggo rin siyang hindi nakapag-post sa social media. Recently lamang ay nagkaroon siya ng update at nabanggit nga.....»»
Pentagon chief reaffirms support after latest China aggression in WPS
Austin emphasized US support for the Philippines in defending its sovereign rights and jurisdiction in a phone call with Defense Secretary Gilberto Teodoro on Wednesday. .....»»
Philippines logs 40 pertussis deaths this year
MANILA, March 28 (Xinhua) -- Forty children have died of whopping cough, a respiratory infection also called pertussis, since this year, the Philippines' Department of Health (DOH) has reported. The DOH said in a statement on Wednesday that cases have continued to increase since the start of this year, recording 568 cases from Jan. 1 to March 16. "The total number of cases for the same period in 2023 was.....»»