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Lalamove empowers aspiring women entrepreneurs to start their small businesses in PangNegosyo program
Lalamove, a leading on-demand delivery platform, has launched the Panalong PangNegosyo program for its thousands of women partner drivers to give out a business-starter package to three lady riders or drivers......»»
MAP wants Metro under ‘state of traffic calamity’
Business group Management Association of the Philippines (MAP) is calling on the government to declare a “state of traffic calamity” in Metro Manila, citing the economic losses from the congestion on roads......»»
21 LGUs in Davao cited for good governance
The Davao Region in the Philippines has seen 21 of its local government units (LGUs) recognized for good governance, receiving the prestigious 2023 Seal of Good Local Governance (SGLG). This accolade, awarded by the Department of the Interior and Local Government (DILG), signifies that these LGUs have met the stringent standards set for governance. Among the 21 awardees, Davao del Norte emerged as the sole province in the region to achieve this national recognition. The criteria for assessing the SGLG awardees encompassed various aspects of governance, including financial administration, disaster preparedness, social protection, health compliance, education, business-friendliness, safety, environmental management, tourism, and youth development. The awarding ceremony, presided over by DILG Secretary Benhur Abalos, emphasized the importance of the awardees sharing their success stories with other local government units, encouraging them to become models of excellence. The recognition not only celebrates the achievements of these LGUs but also serves as an inspiration for others to strive for improved governance......»»
2023 yearend tax updates and compliance
Update yourself and your organization with the latest Supreme Court decisions, all recent BIR revenue regulations, memorandum orders, circulars and policies relevant to business owners and taxpayers covering the period from January to November......»»
The importance of cyber security
Cyberattacks are on the rise! In the past, we associated this terrifying incident with online banks and payment platforms. However, even government websites, not known as financial institutions, from which money may be stolen, or unauthorized payments are also targets. Last Sunday, 15 October, the website of the House of Representatives was vandalized before noon by a group calling itself “3MUSKETEERZ.” A face with a mocking meme with the phrases “You’ve been hacked” and “Have a nice day” appeared on the website. Below the face was the message, “Happy April Fullz Kahit October palang (even if it’s still)! Fix your website.” A few minutes later, the website went down and became inaccessible. Shortly after, the House of Representatives issued a statement assuring the public that the House had already taken action and coordinated with the government agencies concerned to deal with the matter. “While we work to restore the website fully, we ask for patience and understanding. We are committed to ensure the security and integrity of our digital platforms, and we will implement additional measures to prevent such incidents in the future,” the statement said. Relatedly, also recall that on 22 September, a system of the Philippine Health Insurance Corporation was similarly attacked, preventing access for a week. Reports stated the data breach affected employees’ workstations, application servers, and users’ data, including names, addresses, dates of birth, gender, phone numbers and PhilHealth identification numbers. On 31 August, the Department of Science and Technology’s OneExpert portal was also subjected to a cyberattack. In a statement on 13 October, the DoST assured the general public that the virtual assault compromised no personal data. In all the above instances, whether personal data or sensitive information were stolen, it causes alarm to us Filipinos. The call to government agencies and ordinary Filipinos to be vigilant and careful with our online information and accounts has become louder than ever. The same holds true for institutions and businesses, which, by the nature of their activities, are entrusted with and tasked to safeguard large amounts of personal information and are responsible for keeping this trust by whatever means appropriate. I now want to stress the importance of cyber security not just for individuals and juridical entities but for the entire nation holistically. Protection against cyber threats: In today’s digital age, cyber threats like hacking, data breaches, and identity theft are becoming more prevalent. Implementing robust cyber security measures helps protect us from these threats. Safeguarding sensitive information: Cyber security also helps protect sensitive information such as personal data, financial details and intellectual property. This is crucial for maintaining privacy and preventing unauthorized access or misuse of information. Maintaining trust, reputation, and credibility: Cyber security is essential for building trust with customers, clients, and partners. Organizations can maintain a positive reputation and avoid potential legal and financial consequences by committing to protecting their data and privacy. Compliance with regulations: Many industries have specific regulations and standards regarding data protection and privacy. Compliance with these regulations is not only important for avoiding penalties but also for ensuring ethical practices and responsible handling of data. Business continuity: Cyber attacks can disrupt operations, leading to financial losses, reputational damage, and even business closure. Implementing effective cyber security measures helps minimize these risks and ensures business continuity. Finally, I want to end by being deliberately redundant in stating that cyber security is crucial for protecting individuals, organizations, and society from the growing threat landscape in the digital world. Cyber attackers are on the prowl; we must be alert to the possibility of attack, ready even now to implement measures to effectively counter-act or prevent the same. The post The importance of cyber security appeared first on Daily Tribune......»»
Half of finance work could be AI by 2030
Dear Editor, The G.M.A. Integrated News unveiling of A.I. sportscasters Maia and Marco last 24 September captivated many people during the start of the National Collegiate Athletic Association or NCAA Season 99. This groundbreaking introduction sparked intense discussions on social media about Artificial Intelligence’s potential implications on journalism’s future. People expressed a mix of excitement and apprehension, highlighting the need for further exploration and understanding of AI’s role in shaping the field of journalism. As Artificial Intelligence advances at an unprecedented rate, it is not only in journalism where AI can automate work. According to McKinsey, by 2030, approximately half of the finance work could be automated. This automation will bring opportunities and challenges, as AI can streamline processes and improve efficiency. The finance areas that have already started to be automated are the banking and financial institutions, risk assessments, credit scoring, customer service, and market sentiment analysis. In banking and financial institutions, an AI called KAI-GPT can auto-detect risks, generate insights, and make financially literate recommendations. Launched on 31 May 2023, KAI-GPT is the world’s first banking-specific large language model designed to address the industry’s unique accuracy, transparency, trustworthiness, and customization needs. The KAI-GPT provides a human-like, financially literate response. Westpac, Australia’s first bank and oldest company serving more than 12 million customers, is in the process of implementing KAI. Meanwhile, in risk assessment, the tool DataRobot AI can simulate potential fraud scenarios and detect credit risks, fraud risks, and market volatility. Using predictive and generative DataRobot AI improves the technical ecosystem in Financial Services. Sanlam, Africa’s largest non-banking financial institution, uses DataRobot AI, resulting in more streamlined and transparent solutions, driving critical business value levers such as sales and client retention. In the finance area of credit scoring, the Personetics and AIO Logic can detect risk, determine rates, and structure customer loans. Personetics serves over 140 banks and financial institutions across 30 global markets, reaching 135 million banking customers. United Overseas Bank, a Singapore-based Banking and Financial Services organization with 24346 employees and revenues of $9790000.00 billion, uses Personetics. AIO Logic is well known as an AI for Automated Payment Management, Automated Balance Management, Automated Accounting, Complex Structures, Automated Invoicing, Automated Reporting and Analytics. These two credit scoring AI can also assess customers’ creditworthiness and set credit limits. In customer service, robo-advisors, chatbots, and virtual assistants provide a conversational system fit for financial planning assistance. Robo-advisors offer financial advice and limited human interaction, which appeal to Generation Z, who have virtual interactions with advisors and are increasing interest in novel assets like cryptocurrency. The AI is now also in market sentiment analysis, and Bloomberg G.P.T. shows how to automatically analyze news, articles, social media and other classified textual data. Launched on 30 March 2023, Bloomberg GPT is a significant language model with 50 billion parameters trained explicitly on a wide range of financial data. It can perform market sentiment analysis and even help manage investment portfolios. These advancements in AI technology have the potential to significantly streamline and automate many tasks in the finance industry, reducing the need for human intervention. The applications of generative AI in Finance will be widely seen in regulatory compliance and reporting, financial forecasting, portfolio optimization, anti-money laundering and algorithmic trading. However, it is essential to note that while AI can enhance efficiency and accuracy, it is not a substitute for human expertise and judgment. Human oversight and decision-making will still be crucial in navigating complex financial landscapes and ensuring AI technologies’ ethical and responsible use. Still, job displacement in finance may occur, and the need to upskill the workforce is now paramount. Arnel Lopez Cadeliña arnelcadelina@gmail.com The post Half of finance work could be AI by 2030 appeared first on Daily Tribune......»»
Aboitiz Group bags triple Golden Arrow Awards
With a distinguished legacy spanning five generations, the Aboitiz Group remains steadfast in its commitment to fostering positive change in shaping the future as it adheres to the standards and requirements outlined in the ASEAN Corporate Governance Scorecard. This year, following the 2022 compliance period of the ACGS, Aboitiz Equity Ventures Inc. received a 4-arrow recognition after scoring 111.68 points, AEV’s highest ACGS score since the Institute of Corporate Directors inaugurated the Golden Arrow Awards in 2018. Aboitiz Power Corporation and Union Bank of the Philippines both received a 3-arrow recognition for scoring between 100 and 109 points. Consistent top performers It’s also important to note that AEV and AboitizPower have consistently been recognized as top performers in corporate governance, both here in the country and in the ASEAN region since 2013-2017 at the PSE Bell Awards. “This distinction is the result of the Aboitiz Group’s work to transform a legacy business into a hyper-innovative, diversified conglomerate that puts corporate governance and citizenship at the core of its operations. We have always believed that transparency and accountability are essential in building trust amongst our stakeholders and forging strong partnerships in order to drive change,” said Ginggay Hontiveros-Malvar, Aboitiz Group’s chief reputation and sustainability officer. AEV, the portfolio management company of the Aboitiz Group, leads investments in diverse sectors including power, banking and financial services, food, infrastructure, land, and cutting-edge fields such as data science and artificial intelligence. The Group is presently undergoing a profound transformation to establish itself as the Philippines' first "techglomerate." This innovative growth strategy, fueled by technology and a renewed entrepreneurial mindset, empowers Aboitiz to drive transformative change, shaping the future of its businesses, host communities, and the nation. The Golden Arrow Recognition serves as a testament to Aboitiz Group's unwavering commitment to upholding the highest standards of corporate governance. Aboitiz has excelled in several key areas such as compliance, sustainability, and innovation — positioning it as a frontrunner in the realm of corporate governance. This honor reflects the Group's ongoing commitment to creating value for its shareholders, stakeholders, and the broader Filipino community. Robust policies Aboitiz Group’s robust policies and procedures across every level of the organization form the bedrock of its commitment to excellence in corporate governance. Furthermore, the company's board of directors is characterized by its independence and diversity, playing a pivotal role in providing oversight and making strategic decisions aligned with the best interests of shareholders and stakeholders. Aboitiz places great emphasis on transparency, providing clear and comprehensive information regarding its financial performance, operations, and decision-making processes to ensure that shareholders and the public remain well-informed. In terms of regulatory compliance, Aboitiz is dedicated to adhering to all relevant laws, regulations, and standards related to corporate governance. The company continuously updates its policies to ensure alignment with evolving requirements. When it comes to ethical business practices, the Group's commitment to ethical conduct and integrity remains unwavering. “This award reaffirms the team’s adherence to the shared responsibility of sustainably managing the organization. This further motivates us to champion the highest corporate governance and ethical standards as we continue to grow the business,” said AboitizPower president and chief executive officer Emmanuel Rubio. “Likewise, we also exert as much effort and diligence in upholding environmental preservation and the societal good within the areas we have the privilege to serve,” he said. Corporate governance For his part, UnionBank lead independent director Roberto Manabat said, “We humbly accept this recognition as a reinforcement of the principles that guide the Bank. Our corporate governance practices reinforce the requirements of a constantly evolving business landscape. We ensure that they comply with new regulations and are ready to adopt best practices.” Aboitiz is deeply committed to sustainability and corporate social responsibility initiatives. The post Aboitiz Group bags triple Golden Arrow Awards appeared first on Daily Tribune......»»
Aboitiz Group bags triple Golden Arrow Awards
With a distinguished legacy spanning five generations, the Aboitiz Group remains steadfast in its commitment to fostering positive change in shaping the future as it adheres to the standards and requirements outlined in the ASEAN Corporate Governance Scorecard. This year, following the 2022 compliance period of the ACGS, Aboitiz Equity Ventures, Inc. received a 4-arrow recognition after scoring 111.68 points, AEV’s highest ACGS score since the Institute of Corporate Directors inaugurated the Golden Arrow Awards in 2018. Aboitiz Power Corporation and Union Bank of the Philippines both received a 3-arrow recognition for scoring between 100 and 109 points. AEV and AboitizPower have consistently been recognized as top performers in corporate governance, both here in the country and in the ASEAN region since 2013-2017 at the PSE Bell Awards. “This distinction is the result of the Aboitiz Group’s work to transform a legacy business into a hyper-innovative, diversified conglomerate that puts corporate governance and citizenship at the core of its operations. We have always believed that transparency and accountability are essential in building trust amongst our stakeholders and forging strong partnerships in order to drive change,” said Ginggay Hontiveros-Malvar, Aboitiz Group’s chief reputation and sustainability officer. AEV, the portfolio management company of the Aboitiz Group, leads investments in diverse sectors including power, banking and financial services, food, infrastructure, land and cutting-edge fields such as data science and artificial intelligence. The Group is presently undergoing a profound transformation to establish itself as the Philippines' first "techglomerate." This innovative growth strategy, fueled by technology and a renewed entrepreneurial mindset, empowers Aboitiz to drive transformative change, shaping the future of its businesses, host communities and the nation. The Golden Arrow Recognition serves as a testament to Aboitiz Group's unwavering commitment to upholding the highest standards of corporate governance. Aboitiz has excelled in several key areas such as compliance, sustainability, and innovation – positioning it as a frontrunner in the realm of corporate governance. This honor reflects the Group's ongoing commitment to creating value for its shareholders, stakeholders, and the broader Filipino community. Aboitiz Group’s robust policies and procedures across every level of the organization form the bedrock of its commitment to excellence in corporate governance. Furthermore, the company's board of directors is characterized by its independence and diversity, playing a pivotal role in providing oversight and making strategic decisions aligned with the best interests of shareholders and stakeholders. Aboitiz places great emphasis on transparency, providing clear and comprehensive information regarding its financial performance, operations, and decision-making processes to ensure that shareholders and the public remain well-informed. In terms of regulatory compliance, Aboitiz is dedicated to adhering to all relevant laws, regulations, and standards related to corporate governance. The company continuously updates its policies to ensure alignment with evolving requirements. When it comes to ethical business practices, the Group's commitment to ethical conduct and integrity remains unwavering. The company adheres to a stringent code of conduct that guides the behavior of its employees, fostering an environment of trust and integrity. “This award reaffirms the team’s adherence to the shared responsibility of sustainably managing the organization. This further motivates us to champion the highest corporate governance and ethical standards as we continue to grow the business,” said AboitizPower president and chief executive officer Emmanuel Rubio. “Likewise, we also exert as much effort and diligence in upholding environmental preservation and the societal good within the areas we have the privilege to serve.” “We humbly accept this recognition as a reinforcement of the principles that guide the Bank. Our corporate governance practices reinforce the requirements of a constantly evolving business landscape. We ensure that they comply with new regulations and are ready to adopt best practices,” said UnionBank lead independent director Roberto Manabat. Aboitiz is deeply committed to sustainability and corporate social responsibility initiatives. The company actively pursues environmental and social responsibility, demonstrating its dedication to creating a positive impact on society and the environment. The post Aboitiz Group bags triple Golden Arrow Awards appeared first on Daily Tribune......»»
JPMorgan Chase to pay $75 mn to settle Epstein-linked sex trafficking suit
JPMorgan Chase announced Tuesday that it will pay $75 million to settle a US Virgin Islands' (USVI) lawsuit that accused the bank of facilitating Jeffrey Epstein's sex trafficking ring. The big US bank, which previously reached a $290 million settlement with Epstein's victims, also announced an agreement with former JPMorgan executive Jes Staley for an undisclosed sum. These cases together resolve the bank's remaining litigation over its embarrassing long-running association with the late Epstein. The agreement with the USVI came a few weeks ahead of a scheduled trial in New York that likely would have bruised both sides. While the USVI accused JPMorgan of turning a "blind eye" to Epstein's conduct due to profit concerns, the bank levied essentially the same charge against USVI, saying the government helped Epstein obtain visas that allowed him to bring victims to the island. The settlement, which must be approved by a US court, includes $30 million to support USVI charitable organizations, $25 million to enhance USVI law enforcement to combat human trafficking and $20 million in attorneys' fees. JPMorgan did not admit liability as part of the settlement, but the "firm deeply regrets any association with this man, and would never have continued doing business with him if it believed he was using the bank in any way to commit his heinous crimes," the bank said in a statement. "JPMorgan believes this settlement is in the best interest of all parties," the bank said. The USVI had originally sought $190 million in damages for the bank's role in enabling Epstein's sex crimes, including in the Virgin Islands, where he had a residence. The USVI said JPMorgan "knowingly, negligently, and unlawfully provided and pulled the levers through which recruiters and victims were paid and was indispensable to the operation and concealment of the Epstein trafficking enterprise," according the original complaint. Bank hits back The bank hit back forcefully, saying in a May legal filing that the USVI government was "complicit in the crimes of Jeffrey Epstein." Under a "quid pro quo" relationship with top USVI officials, Epstein "gave them advice, influence, and favors," JPMorgan said in the filing. "In exchange, they shielded and even rewarded him... looking the other way when he walked through USVI airports accompanied by girls and young women." US Virgin Islands Attorney General Ariel Smith said Tuesday the agreement would prevent human trafficking in the future. "This settlement is an historic victory for survivors and for state enforcement, and it should sound the alarm on Wall Street about banks' responsibilities under the law to detect and prevent human trafficking," Smith said. "We are proud to have stood alongside the survivors throughout this litigation, and this settlement reflects our continued commitment to them," Smith said. The USVI press release listed a number of "substantial commitments" by JPMorgan to combat human trafficking, including informing law enforcement of perpetrators and terminating customers' accounts if there is credible evidence of wrongdoing. But a JPMorgan spokesperson said the bank has not changed or fortified its policies due to the accord. "There are no new commitments. Our controls, compliance, risk, and other functions are always improving, and we are continually investing to become even better," said JPMorgan's Trish Wexler. "We have always worked closely with law enforcement to help combat human trafficking, and we will continue to look for ways to invest in advancing this important mission." The post JPMorgan Chase to pay $75 mn to settle Epstein-linked sex trafficking suit appeared first on Daily Tribune......»»
EU businesses ‘questioning their position’ in China — trade commissioner
European businesses in China are increasingly questioning their positions in the face of tough new security laws and a politicization of trade, an EU commissioner warned in Beijing on Monday. "European companies are concerned with China's direction of travel," Valdis Dombrovskis said in a speech at the capital's Tsinghua University. "Many are questioning their position in this country." He pointed to a new foreign relations law and a recent update to China's anti-espionage laws as being of "great concern to our business community". "Their ambiguity allows too much room for interpretation," he warned. "This means European companies struggle to understand their compliance obligations: a factor that significantly decreases business confidence and deters new investments in China," Dombrovskis said. The EU trade commissioner is on a multi-day visit to the world's second-biggest economy, where he is set to meet senior economic officials and press the bloc's case that it is not seeking an economic decoupling from China. His trip follows a report by the Chamber of Commerce of the European Union last week that showed business confidence was at one of its lowest levels in decades. "For decades, European companies thrived in China," the Chamber's president Jens Eskelund said. But, after three "turbulent" years, he said, "many have re-evaluated their basic assumptions about the Chinese market". And it comes in the face of mounting trade tensions between the EU and China, following Brussels' decision to launch a probe into Beijing's electric car subsidies. The investigation could see the EU try to protect European carmakers by imposing punitive tariffs on vehicles it believes are unfairly sold at a lower price. The day after that announcement, the Chinese commerce ministry hit back at the EU's "naked protectionism", and said the measures "will have a negative impact on China-EU economic and trade relations". Speaking in Beijing on Monday, Dombrovskis insisted China remained an attractive investment opportunity for European businesses. "The EU and China both benefited immensely from being open to the world," he said. "Trading and cooperating across borders helped to shape our economic and geopolitical strength." But, he said, growing challenges for business risked turning "what many saw as a 'win-win' relationship in past decades could become a 'lose-lose' dynamic in the coming years". Ukraine war China's refusal to condemn Russia's war in Ukraine also poses a "reputational risk", he said. Beijing's position "is affecting the country's image, not only with European consumers but also businesses", he said. China has sought to position itself as a neutral party in the Ukraine conflict while offering Moscow a vital diplomatic and financial lifeline as its international isolation deepens. Russian leader Vladimir Putin is due to visit China next month. "China always advocates for each country being free to choose its own development path," Dombrovskis said. "So it's very difficult for us to understand China's stance on Russia's war against Ukraine, as it breaches China's own fundamental principles." The post EU businesses ‘questioning their position’ in China — trade commissioner 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......»»
LGUs urged to adopt eBOSS
The Anti-Red Tape Authority on Wednesday encouraged the local government units to comply with the Electronic Business One-Stop Shop or eBOSS to boost the ease of doing business in the Philippines. ARTA Director General Ernesto Perez said that the eBOSS is a program developed by ARTA in partnership with the Department of Information and Communications Technology to provide LGUs with a digitalized and streamlined business processing and licensing system. "The eBOSS makes it easier and faster for businesses to register and obtain permits, which can help to attract more investors and create more jobs," Perez said in a public briefing. Perez added that ARTA is working with the Department of the Interior and Local Government (DILG) to ensure that all LGUs comply with the eBOSS requirement. "We are providing LGUs with the necessary support and guidance to help them implement the eBOSS. We are also working with the DILG to monitor the compliance of LGUs," Perez said. As of September 2023, only eight out of 17 LGUs in Metro Manila have been verified by ARTA as compliant with eBOSS. Among them are Quezon City, Valenzuela, Marikina, Parañaque, Muntinlupa, and Quezon City, all of which have seen an increase in revenue collection and business registration. Outside Metro Manila, Lapu-Lapu, Cagayan de Oro, and Batangas City have also complied. "We urge all LGUs to comply with the eBOSS requirement. This is not only a legal requirement, but it is also in the best interest of our businesses and our economy," Perez said. ARTA's Partnership with the Civil Service Commission ARTA has also partnered with the Civil Service Commission (CSC) to improve the efficiency and effectiveness of government services. Under the partnership, ARTA and CSC will work together to develop and implement training programs for government employees on anti-red tape and ease of doing business. The partnership is also expected to promote the use of technology to improve government service delivery, Perez said. In addition, he said both ARTA and CSC will monitor and evaluate the performance of government agencies in terms of anti-red tape and ease of doing business. "We believe that this partnership with CSC will be instrumental in our efforts to improve the efficiency and effectiveness of government services," Perez said. "A more efficient and effective government will benefit both businesses and citizens. It will make it easier for businesses to operate and create jobs, and it will make it easier for citizens to access government services," Perez added. The post LGUs urged to adopt eBOSS 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......»»
Iloilo International Airport receives ISO Certification
The Iloilo International Airport received an official certification for its Environmental Management System (ISO 14001) awarded by the Civil Aviation Authority of the Philippines together with the Local Government Unit of Iloilo, the European Aviation Safety Agency, and a certification body from Bureau Veritas. The awarding ceremony was held at the airport’s departure area and was attended by CAAP officials and representatives from the Iloilo LGU, EASA and Bureau Veritas. According to the “Plan, Do, Check, and Act” method of environmental regulation compliance, ISO 14001 outlines the requirements for an Environmental Management System. It lays out a framework that a business or organization may use. In addition to these benefits, it aids businesses in increasing resource efficiency and reducing waste, giving them a competitive edge and the confidence of stakeholders. Iloilo International Airport received the accreditation on 31 May 2023, and it is a mark of distinction given to organizations that have guaranteed that their environmental impact is being measured and improved. On 7 July 2020, the airport’s journey towards accreditation started, and an Environmental Management Team was established to concentrate on this objective. Several EMS efforts were carried out to raise awareness and disseminate information among the partner agencies, stakeholders, and workers of the airport to get ready for the assessment of ISO 14001 compliance. These initiatives were intended to guarantee that the community around the Iloilo International Airport had a thorough awareness of EMS. The airport went through two audit stages on 6 January and 2-3 February, respectively, to achieve the “recommended” status for certification. CAAP-Iloilo International Airport finally obtained the certification, which is slated to expire on 31 May 2026, thanks to their tenacious efforts and the backing of CAAP management to assure the maintenance of established standards and compliance with ISO 14001. CAAP, the organization managing and running Iloilo International Airport, welcomed the accomplishment with great pride. CAAP is confident that this will be an example for other CAAP-operated airports to pursue EMS certification and offer the Filipino people a top-tier, environmentally sound air transportation industry. CAAP Director General Captain Manuel Antonio Tamayo said that being eco-friendly in its operations has always been an aspiration of the global aviation community. This achievement is a testament to CAAP’s commitment to creating a greener environment and future for the benefit of its stakeholders and the whole airport community. The post Iloilo International Airport receives ISO Certification appeared first on Daily Tribune......»»
PEZA secures P10.8B investments from Japan, signs MOU for automation of ICT systems
In conjunction with the visit of the members of the President’s Cabinet to improve economic ties with Japan, PEZA pursued a five-day outbound mission to Tokyo resulting in P10.8 billion in solid investment expansion commitments from PEZA-registered Japanese enterprises. Held from 28 August to 2 September 2023, PEZA participated in an investment forum organized by junca Global Holdings and a series of business-to-business meetings that capitalized on investment leads sought by PEZA, and those from Sumitomo Corporation and the First Philippines Industrial Park, Inc., one of PEZA’s leading developer-operators. PEZA also explored new strategic areas of collaboration with Kiraboshi Bank, one of the leading regional banks in Tokyo, and with the Organization for Small & Medium Enterprises and Regional Innovation JAPAN, a government agency under the Ministry of Economy, Trade and Industry in charge of supporting the needs of Japanese SMEs. Further, PEZA entered into a Memorandum of Understanding with NEOJAPAN that will allow PEZA to use NEOJAPAN’s desknet’s NEO and Appsuite, free of charge to PEZA until the end of 2023. In an investment promotion forum organized by junca Global Holdings on 29 August, Director General Tereso O. Panga highlighted Japan’s contribution to the Philippine economy, stating “Our top country investor, Japan, has a total of P766.550 billion investments from 1995 to June 2023 making up for the 27.37 percent of PEZA’s overall investments by country. This investment comes from 877 Japanese locators with 339,751 direct employments as of May 2023 and exports of $ 6.370 billion from January to May this year.” The said forum was attended by representatives from various industries, specifically from renewable energy/alternative fuel to water recycling, real estate, financial services, food processing, cosmetics manufacturing and distribution including research and development on sprayed stem cell therapy, and human resource training and management. Panga also reported that “2023 is proving to mark the significant rise of the semiconductor industry with several industry leaders proceeding with their expansion plans to address the projected demand in their products due to the rise of the electronic vehicle industry and steady technological advancements in the downsizing of gadgets and their parts.” “PEZA will make sure that the country will be poised to receive these investments as we have a small window to get the manufacturing of new high-tech products into the Philippines given the competitiveness of the industry,” he added. The mission allowed PEZA to secure P10.8 billion in investment commitments from Japanese companies, namely the Terumo Corporation (P1 billion), Taiyo Yuden (P1.6 billion), TDK Corporation (P7.2 billion) and Almex Technologies (P1 billion). Panga’s statement is further solidified by the P111.207 billion in investments already approved by the PEZA Board for the first nine months of 2023, and expansion announcements by some of PEZA’s biggest locators such as Knowles (Philippines) Electronics Corporation, Terumo, Wipro Philippines, Inc., and Isla Import Terminals, Inc. According to Panga, “Taiyo Yuden CO., LTD. has an investment plan to operate their business in Taiyo Yuden (Philippines), Inc. We are proud to have locators such as Taiyo Yuden grow inside PEZA’s ecosystem since 1989. The ongoing investment plan covers the calendar year 2023-2024, with the total investment amounting to P1.6 billion. This signifies a continued era of trust and confidence in the country’s investment facilitation climate.” The Metal Power Inductor is Taiyo Yuden’s newly patented product with cutting-edge technology. The Philippine facility is the first manufacturing site aside from the facilities in Japan. The new product is the world’s first multilayer-type metal power inductor with the latest multilayer technology and its unique metal material characteristics. On the other hand, the TDK Corporation, an electronics manufacturing company that uses leading magnetic technology will have its first expansion from 2023 to 2026 while its second expansion will begin in 2024. TDK’s new product is a bio-magnetic sensor for monitoring heartbeats. Promising investment leads are also in the pipeline such as the partnership with Kiraboshi Bank, LTD., As one of the largest regional banks in Tokyo, Japan, Kiraboshi Bank caters to a large network of enterprise clients including PEZA registration-eligible business enterprises. Meanwhile, talks with the SME Support JAPAN led to the possible inclusion of the Philippines in the conduct of CEO Business Meetings that will allow direct linkage between Japanese SMEs and PEZA RBEs. PEZA also considers the partnership as a promising prospect since the Philippines is in a position to address the human resource needs of Japanese SMEs that are looking to expand operations. According to SME Support Senior Director General Soma Hirohisa they are “looking forward to the possible partnership with PEZA to produce more success stories for Japanese SMEs, similar to those who setup manufacturing facility in the ecozones to export these products to Japan and other global markets.” On the other hand, Kaneko Cord Co., LTD. is a company engaged in various industries such as the production of electrical wires, cables, and the manufacture of medical tubes and caviar productions is interested in transferring its Japan-based operations to the Philippines. Kaneko representatives later lauded the productive meeting with PEZA, stating that the meeting “surely expedited the beginning of [their] business in the Philippines.” Meltec Corporation also have plans to expand their operations in the Philippines due to the country’s strategic location to its clients and the presence Filipinos workers with high-quality skills and positive attitude. On 1 September 2023, PEZA entered into an MOU with NEOJAPAN that will allow PEZA to use NEOJAPAN’s desknet’s NEO and Appsuite, free of charge to PEZA for a limited period. The use of these groupware solutions will allow PEZA to digitize, automate, and centralize most of its internal documents and processes under a secure IT environment. With this partnership, PEZA will be taking the lead in government administration, being one of the first Philippine government agencies to use the product as a standard operating office system. In Japan, desknet’s NEO is used by 40 percent of all Japanese LGUs, ministries such as the Ministry of Internal Affairs and Communication, universities such as The University of Tokyo, and large enterprises such as Toyota, Mitsubishi Motors, Mizuho, Pilot and Fujifilm. Represented by Panga and Corporate Center Senior Director Tsuneko Aoki, PEZA and NEOJAPAN inked the engagement geared toward exploring areas of collaboration and cooperation in developing, improving and automating the administrative processes of PEZA through the adoption of appropriate ICT systems. In Japan, desknet’s NEO is used by 40 percent of all Japanese LGUs, ministries such as the Ministry of Internal Affairs and Communication, universities such as The University of Tokyo, and large enterprises such as Toyota, Mitsubishi Motors, Mizuho, Pilot and Fujifilm. The MOU is also in compliance with Republic Act No. 10173 or the Data Privacy Act of 2012 and Confidentiality of Information. This is part of PEZA’s initiatives towards contributing to the goal of the Department of Trade and Industry of promoting digital transformation in the Philippines that is science, technology, and innovation-driven. The post PEZA secures P10.8B investments from Japan, signs MOU for automation of ICT systems appeared first on Daily Tribune......»»
Iloilo City business landscape booming
Iloilo City's economy continues to thrive almost three years after the COVID-19 pandemic. This is evident in the increasing number of new and renewed business permits issued by the City Government through the Investment Services, Business Permit and Licensing Division. A total of 18,033 businesses in the city were issued with business permits as of 31 August this year, according to Local Economic Development and Investment Promotions Office head Velma Lao. The figure is composed of 2,000 permits for new businesses and 16,033 business permit renewals. This surpassed the 17,379 total number of business permits issued for the whole year of 2022 consist of 2,590 new business permits and 14,789 renewed business permits. Lao said there are 239 more applications for new businesses pending for payment and issuance of business permits this year. Mayor Jerry P. Treñas said the increasing number of businesses in the city indicates that the local economy is improving. He is looking forward to an even better economy next year, hopefully with more jobs available. He added that the off-site payment centers established by the City Government in malls such as in The Atrium, Marymart Mall, Festive Walk and SM City Iloilo also helped a lot as it has provided easy, fast and convenient access for those who are applying for renewal and payment of business permits and other payment-related transactions. Lao likewise cited the city's good business climate, which attracts more investors, as among the factors in the increase of businesses here. "There are new opportunities to do business in our city. Other factors include the city's mobility and business friendliness. We have also accessible and responsive services and business permitting," she added. The good promotion of Iloilo City to the business community, and the investors' trust and confidence in the local government unit, are also big factors. Lao further noted that the ISBPLD's inspection team is going around the city to monitor businesses and ensure compliance. As part of the city's innovative economic development, Lao said they are targeting around 350 businesses with no business permit or a total of 2,000 by 2028. The post Iloilo City business landscape booming appeared first on Daily Tribune......»»
Gov’t, businesses told to adopt AI boom
The government and private sector need to collaboratively launch a nationwide effort to push for the adoption of science-backed artificial intelligence or AI to help communities and businesses keep up with the rapid technological advancement. In an interview with reporters last Friday, Dr. Sanjay Sarma, CEO, president, and dean of the Asia School of Business or ASB, reiterated that AI is developing at an unprecedented pace and will be everywhere soon. “AI can potentially replace jobs so let’s accept that. The Philippines should become the country that leads the world in how to use AI, in call centers, for instance,” Sarma told reporters. “Here in the Philippines, it has to be a national effort. The government needs to be cognizant that this is an epic moment. It's like, you know, climate change is going to damage the environment, it will hurt a lot of people. This is technology change is just like climate change,” he said. Unlike other technologies such as automated teller machines or ATMs, which took about 15 years to be widely accepted, AI is a development that needs urgent adoption. Like ATMs, which previously raised concerns about replacing the job of bank tellers, AI will help industries develop further. “Bank tellers did not lose their jobs. Bank tellers did something more advanced, which is selling mortgages and things like that. The job changed because of technology,” he explained. Thus, in blending in with the changes brought about by AI, Sarma proposed that local industries like the business process outsourcing sector should upgrade more into becoming a technology space. “At this level, you have to go up because the attack comes from below. It's like a tiger, you know, it's chasing you, You climb a tree, and the tiger learns to climb the first 10 feet, well, you have to climb higher. So you have to go higher up in the cognitive stock to go higher,” he said. To complement the benefits of AI, Sarma noted that the local service industry workers, for instance, have to do the things that technology cannot. “For example, this Chat GPT cannot negotiate with you, can't do any planning, can't do dispute resolution. It can't calm an angry customer. So you have to figure out what the technology can do and what humans can do, that the technology can't. And you're to develop human capital in those directions.” Sarma is a professor of mechanical engineering and the Sloan School of Management at the Massachusetts Institute of Technology. He is a leading authority in AI, the Internet of Things, and Education. ASB, established in 2015 by Bank Negara Malaysia in collaboration with MIT Sloan School of Management, aims to be a premier business school that develops transformative and principled leaders who will contribute to the advancement of the emerging world, particularly in Asia. Last July, Surigao del Norte Rep. Robert Ace Barbers asked the Congress and Palace to consider creating an agency that will oversee responsible AI use in the country. Barbers cited that at least 520,000 employees across different industries may be affected by the integration of AI. In March, he filed a bill eyeing to create the Artificial Intelligence Development Authority, which will serve as an AI monitoring body tasked to supervise the “development and deployment of AI technologies.” Primarily, it will ensure compliance with AI ethics principles and guidelines and protect the “rights and welfare of individuals and communities affected by AI technologies.” The post Gov’t, businesses told to adopt AI boom appeared first on Daily Tribune......»»
Phl to rely on rice imports from Vietnam, Cambodia
JAKARTA, Indonesia – The Philippines and Vietnam are working on a 5-year agreement to improve rice output and food security in the two Southeast Asian nations, Vietnamese Prime Minister Pham Minh Chinh said on Thursday. During their meeting on the sidelines of the ASEAN Summit, the Vietnamese leader told Philippine President Ferdinand Marcos Jr. that his country is ready to help the Philippines obtain food security and boost rice production. "Our two countries will conclude an inter-government agreement on rice trade so that our rice export to the Philippines will ensure food security in the Philippines," he told Marcos Jr. "We look forward to having a stable framework of cooperation on rice trade for a long period of at least (five) years," the Vietnamese official added. Prime Minister Pham Minh Chinh then said that Vietnam "will ensure" its rice production and told Marcos that the Philippines can also ensure imports from its neighboring country. Marcos Jr. then noted that his Vietnamese counterpart was ready to let the Philippines import rice as the Philippine leader acknowledged that food supply is a "main issue" in the Philippines. "In Asia, food supply is very much determined by rice and the prices," Marcos said. The Philippine president then expressed his optimism that both his country and Vietnam would have "very fruitful" arrangements. Rice imports from Cambodia In a separate bilateral meeting with Prime Minister Hun Manet here in Jakarta, Marcos opened up the possibility of sourcing rice from Cambodia to the Philippines. Marcos then asked for Cambodia's support in making things easier for rice importers so that there would be a steady rice supply after typhoons hurt rice production in the Philippines. Initially, business-to-business sales deals between Cambodian-based firm Khmer Foods company and rice importers in the Philippines resulted in the export to the Philippines of about 2,500 tons of rice in May this year. This was the first time the Philippines is importing a significant tonnage of rice from Cambodia after the passage of the Rice Tariffication Law in 2019, which liberalized rice trade in the Philippines and allowed private entities, instead of the government, to import rice from any country, subject to compliance with sanitary and phytosanitary requirements and import duties. Cambodian officials say that by 2024, they want to have a 1 percent share of the imported rice market in the Philippines. They have urged stakeholders to keep exporting rice to the Philippines and even increase the amount Cambodians export. *Aviation* With regard to civil aviation cooperation, both countries agreed to expand the direct flights between the Philippines and Cambodia given the improvements in the COVID-19 situation and easing of restrictions. “…I shall, as my homework when I get back, look into the possibility of our airline increasing the number of flights to other destinations in Cambodia that we would like to go to. This is something that goes both ways,” the President also said. The President also mentioned the cultural, educational, and people-to-people exchanges between the Philippines and Cambodia that could be enhanced further. “I’m very proud of our overseas Filipino workers and the teachers who have gone abroad and places. Many who’ve come from my part of the country and we have been able to assist our allies and our partners in terms of exchange of culture and the like,” Marcos said. The post Phl to rely on rice imports from Vietnam, Cambodia appeared first on Daily Tribune......»»
PEZA, BoC inks data-sharing pact
To improve trade and economic zone efficiency, PEZA and BoC signed a data-sharing agreement. The Philippine Economic Zone Authority, or PEZA, and the Bureau of Customs, or BoC, announced on Wednesday that their historic collaboration had been formalized. This monumental partnership culminated in the ceremonial signing of the Data Sharing Agreement for access to the Electronic Tracking of Containerized Cargo System. The effectiveness and security of trade and economic zone operations in the Philippines are expected to be revolutionised by this historic agreement. Revolutionary power Under their leadership, Director General Tereso O. Panga and Commissioner Bienvenido Y. Rubio has recognized the revolutionary power of efficient data sharing and collaboration. This ground-breaking collaboration has been made possible by their unwavering dedication to modernizing customs and economic zone operations. In order to protect the interests of the country, the BOC, which is tasked with overseeing the handling, possession, and delivery of products at all ports of entry, plays a crucial role. Real-time tracking of inland movements of containerized products has been made possible by the E-TRACC System, which was adopted by Customs Memorandum Order 04-2020. Meanwhile, PEZA, operating under Republic Act 7916 (as amended by Republic Act 8748), looks after regulating, overseeing, and facilitating business operations within economic zones. Both agencies’ contributions to the growth and prosperity of the country are obvious through the thriving economic activity within these zones. Data sharing agreement The Data Sharing Agreement formalizes the collaboration between these two vital agencies. PEZA will gain access to BOC’s E-TRACC System data, enabling real-time monitoring of containerized goods and individuals within and outside economic zones. This partnership promises to enhance efficiency, transparency, and security in cargo transportation to and from these zones. The key provisions of the agreement focus on data privacy, security, storage and retention of confidential information. The BoC and PEZA highlight their commitment to maintaining data privacy regulations and protecting sensitive information. To make sure that sensitive information is only used for those purposes, strict controls will be put in place. The Data-Sharing Agreement’s signature represents an agreement among the agencies to work together to promote innovation, effectiveness, and compliance in their own fields as well as wanting to work together to improve trade and the economic climate in the Philippines. The post PEZA, BoC inks data-sharing pact appeared first on Daily Tribune......»»
Modern cars are a data privacy ‘nightmare’ says study
The world's most popular car brands are a data "privacy nightmare," collecting and selling personal information in an age when driving is going increasingly digital, a study showed on Wednesday. The California-based Mozilla Foundation reviewed 25 car brands and said none of them fully satisfied its standards on privacy and that no other product category had ever received as poor a review, including makers of sex toys or mental health apps. "Modern cars are a privacy nightmare" at a time when "car makers have been bragging about their cars being 'computers on wheels'", said Mozilla, which is best known for its privacy-conscious Firefox web browser. "While we worried that our doorbells and watches that connect to the internet might be spying on us, car brands quietly entered the data business by turning their vehicles into powerful data-gobbling machines," Mozilla said. Tesla was the worst offender, according to the study, with Nissan coming in second and singled out for seeking some of the "creepiest categories" of data, including sexual activity. The study found that a staggering 84 percent of car brands admitted to sharing users' personal data with service providers, data brokers, and other undisclosed businesses. Most of them, 76 percent, said they sold on their customers' data and more than half said they share data with government and law enforcement on request. Today's connected vehicles not only mine data from driving, but track in-vehicle entertainment and third-party functions such as satellite radio or maps. An overwhelming majority of car brands, 92 percent, were found to provide users with little to no control over their personal data with only France's Renault and its Dacia brand allowing users the right to delete data, probably out of compliance with European Union law. Mozilla complained that none of the car brands - which also included Ford, Chevrolet, Toyota, Volkswagen, and BMW - would confirm they met the foundation's minimum security standards when 68 percent were subject to data leaks, hacks or breaches in the last three years. The post Modern cars are a data privacy ‘nightmare’ says study appeared first on Daily Tribune......»»