Morocco elected to WHO Executive Board for 2022-2025
RABAT-The Kingdom of Morocco was elected to the Executive Board of the World Health Organization (WHO) for the period 2022-2025, representing the group of Eastern Mediterranean States (EMR), during the 75th World Health Assembly held in Geneva from May 22 to 28, the Ministry of Foreign Affairs, Afr.....»»
P16.5-B investments secure PEZA nod
The Philippine Economic Zone Authority remains on track to make the Philippines a good investment destination and contribute to the overall goal of the country to graduate to the upper middle-income economy by 2025, as the Philippine Ports Authority , or PPA board, greenlighted a total of P16.578-billion investments as of 31 July 2023. The new investments are coming from 15 new and expansion projects and are expected to generate $419.5 million worth of exports and create 2,983 jobs. This brings PEZA’s total for the year to P97.163 billion, a 332.05 percent increase from the P22.489 billion investments approved in the same period in 2022. “We are more than encouraged to promote the Philippines to global investors, taking the cue from President Ferdinand “Bongbong” Marcos Jr. that the best time to invest in the country is now and that the Philippines is the best investment destination in the region. Among the bright prospects for the Philippines and the ecozones include our 6-7 percent GDP growth target, our ascension to Regional Comprehensive Economic Partnership, or RCEP, and other free trade agreements, or FTAs, the 5 percent to 15 percent annual growth target by the industries, Marcos administration’s efforts to increase our credit rating, and our aggressive investment promotions,” according to PEZA director general Tereso Panga indicated. 3 new ecozones Panga lauded President Marcos’ pronouncement of three additional new ecozones, in line with the commitment of PEZA to its overarching goal of spurring countryside development through the creation of more ecozones seen to facilitate growth and development in the country’s regions, as well as attract new and strategic investments in the country. To recall, the Office of the President on 25 July 2023, released Proclamations 299, 300 and 303 which approved the creation of three economic zones in Naga City, Bacolod City and Dumaguete City. Proclamation 299 designated several parcels of land in Barangay Carolina, Naga City to be known as Naga City Industrial Park while Proclamation 300 and 303 designated buildings as IT Centers in Barangay Mandalangan, Bacolod City to be known as Lopue’s Mandalangan IT Center, and in Barangay Piapi, Dumaguete City to be known as Marina Town Dumaguete. The Marcos administration also approved two new economic zones in Batangas Province and Bacolod City last April 2023. These ecozones are expected to bring in about P1.641 billion in investments. To date, there are a total of six PEZA ecozones pending proclamation by the President, namely ecozones that will be developed in Parañaque City (IT Center), Pasig City (IT Center), Tanza, Cavite (Manufacturing), Ilocos Sur (Manufacturing), and Sarangani Province (Agro-industrial). The post P16.5-B investments secure PEZA nod appeared first on Daily Tribune......»»
Phl cinema in the first year of BBM
Here, we look back at the state of the Philippine film industry since he took the seat of power 13 months ago. When President Marcos Jr. became the 17th leader of the nation, the country was on the brink of the “new normal.” The campaign elections even saw multitudes of crowds in the streets, the Filipinos’ political passion overpowering the fear of a Covid-19 infection. Covid-pandemic viewing By May 2022, the month of the presidential campaigns, the Department of Health said the country was at “minimal-risk case classification” with an average of only 159 cases per day. By June 2022, when the President took his oath, 69.4 million Filipinos had been fully vaccinated. Along with the country, the Philippine film industry started healing. On the same month, the country went under Covid-19 Alert Level 2, with 50-percent allowed capacity in indoor cinemas. Live film festivals The Marcos administration saw the return of Filipino film festivals in theaters. On Marcos’ fifth month as president, the QCinema International Film Festival, with the theme “in10City,” held hybdrid screenings — in-person and online. The Metro Manila Film Festival in December 2022, six months into the new presidency, went full force in cinemas for the second time during the pandemic. Earlier, in 2020, during the Duterte administration, the festival was held online for the first time, and the following year, in December 2021, after level alert measures in the Philippines were relaxed, the MMFF finally went back to the cinemas. However, only around 300 cinemas (down from the usual 900) were allowed to screen the MMFF entries. Meanwhile, the 18th edition of the Cinemalaya Philippine Independent Film Festival was held from 5 August to 31 October 2022 at the Cultural Center of the Philippines, in select mall cinemas and online. But what made a mark during the Marcos administration’s first year was the inaugural edition of the 2023 Summer Metro Manila Film Festival. The SMMFF was held in Metro Manila and throughout the Philippines. Organized by the Metropolitan Manila Development Authority in partnership with the Cinema Exhibitors Association of the Philippines, the first MMFF was supposed to be held in 2020, but was canceled due to the Covid-19 pandemic. In 2023, held from 8 to 18 April 2023 with the theme “Tuloy-tuloy ang Saya,” the summer festival featured eight entries and, like its December counterpart, even held a Parade of Stars. About Us But Not About Us by Jun Lana, produced by The IdeaFirst Company, Octobertrain Films and Quantum Films, emerged as the first Best Picture of the summer festival. [caption id="attachment_161372" align="aligncenter" width="1200"] About Us But Not About Us by Jun Lana[/caption] The Film Development Council of the Philippines’ sixth edition of its own mini-film festival, held during the Marcos administration’s third month, headed back to cinemas, offering free access to award-winning classic films of the new National Artists for Film and Broadcast Arts at TriNoma Cinema in Quezon City and in all Cinematheque centers nationwide (Manila, Iloilo, Negros, Davao and Nabunturan). CCP closes for renovations On 1 September 2022, CCP president Margarita Moran-Floirendo announced during a hearing of the Senate committee on cultural communities, that The Cultural Center of the Philippines — home to the Cinemalaya festival — will close its doors starting January 2023 for renovation and structural retrofitting works, and will reopen in March 2025. This marks the first time that Cinemalaya, on its 19th year, which has the theme “ilumiNasyon,” will be held at various venues inside the adjacent Philippine International Convention Center, from 4 to 13 August 2023. The rise of political films With the country deeply driven by polarized political views, the Marcos administration saw a war between political commercial films. [caption id="attachment_161370" align="aligncenter" width="1800"] ‘MAID in Malacanang’ stars Cristine Reyes, Diego Loyzaga and Ella Cruz. | Photograph courtesy of viva[/caption] On 29 July 2022, Darryl Yap’s period drama Maid in Malacañang, touted as “the most controversial film of the year,” was released to packed cinemas. The movie, about the Marcos family’s last three days in Malacañang Palace before they were forced into exile, premiered at SM North EDSA and was released nationwide on 3 August 2022. Yap, who passionately campaigned for Marcos, became a controversial filmmaker with the release of his Marcos film. Leni Robredo supporters tried to boycott the film, with some Filipino movie critics exposing themselves as heavily political and non-neutral with their reviews, accusing the film of propaganda and historical revisionism. The attempt to quash the movie’s release failed and it became a box-office hit, with producer Viva Films releasing a statement that it earned a whopping P21 million on its opening day and P63 million three days after its release. It was the first time in Philippine cinema history that local theaters nationwide saw a deluge of moviegoers lining up to watch a movie on the big screen, mostly driven by political affiliation. Another unsuccessful political attempt to diminish the film’s release was Vince Tañada’s re-release of his Martial Law film Katips to counter Maid in Malacañang. Tañada’s film eventually won Best Picture at the Famas Awards. MIM actress Ella Cruz’s remark during a press conference, that “history is like tsismis,” further fanned the flames of political debate online. Eight months later, in March 2022, Viva released Yap’s second installment in his Marcos trilogy, Martyr or Murderer, which now focused on Ferdinand Marcos and the assassination of Ninoy Aquino. Two anti-Marcos movies rose to combat the film — Joel Lamangan’s Oras de Peligro, released on the same day, and Tañada’s movie adaptation of his musical play Ako Si Ninoy, released one week earlier. Movie buffs, political analysts, film critics, the press and social media influencers dove into feverish commentaries on the three films, and Philippine cinemas were ignited and, for a while, became alive with social discourse. New FDCP head On 21 July 2022, Tirso S. Cruz III officially assumed his position as the head of the country’s national film agency, the Film Development Council of the Philippines. He replaced Liza Diño, who was appointed by President Rodrigo Duterte as FDCP chairperson on 12 August 2016. [caption id="attachment_161368" align="aligncenter" width="736"] FDCP chair Tirso Cruz III. | PHOTOGRAPH COURTESY OF FDCP[/caption] Cruz, a veteran actor, said that the target of the FDCP under the Marcos administration was to support local films, not just in Metro Manila, but also from regional filmmakers. He also professed support for film students and highlighted archiving as part of the FDCP’s agenda, with 42,000 materials in its archives to be salvaged. MTRCB In September 2022, the Movie and Television Review and Classification Board released a statement addressing the controversy about its proposal to expand its jurisdiction to online streaming services like Netflix, Vivamax, Amazon Prime and other streaming platforms. The MTRCB said it was responding to multitudes of complaints from parents and other concerned groups demanding that the agency regulate movie and TV online platforms to protect children from harmful viewing. The Marcos administration has seen a continuous boom in streamers, which began during the pandemic, with Vivamax becoming one of the leading local streamers due to the popularity of Filipino sexploitation films. On 23 February 2023, MTRCB chairperson Lala Sotto-Antonio expressed her gratitude to Senators Francis “Tol” Tolentino, Grace Poe and Sherwin Gatchalian for the separate bills they filed that would amend and expand the board’s mandate. “We welcome the move to amend the charter of the MTRCB as it will allow the agency to adequately adapt to changes in technology and the ever-evolving needs of the viewing public and our other stakeholders,” Sotto-Antonio said before the Senate Committee on Public Information and Mass Media chaired by Senator Robinhood C. Padilla. Eddie Garcia Act In January 2023, the chamber passed through voice voting House Bill 1270, or the proposed Eddie Garcia Act, at the House plenary session. [caption id="attachment_161367" align="aligncenter" width="1000"] HOUSE Bill 1270 has been proposed in honor of the late actor Eddie Garcia. | Photograph courtesy of gma-7[/caption] Camarines Sur Rep. Luis Raymund Villafuerte authored the bill, which aims to provide workers in the movie, television and radio entertainment industry opportunities for well-paid employment and protect them from economic exploitation, abuse and harassment, as well as hazardous working conditions. The bill was named after the late veteran actor Eddie Garcia, who died in 2019 after suffering a neck injury while shooting the television series Rosang Agimat, produced by GMA Network. According to Villafuerte, productions would go from 16 to 24 continuous work hours per set and would rush productions to save costs. The proposed law mandates that normal work hours of the worker or talent shall be eight hours a day; overtime work should not exceed more than 12 hours in a 24-hour period; and the total number of work hours shall not exceed 60 hours in a week. Paul Soriano Relatively unknown to most Pinoy moviegoers, filmmaker Paul Soriano was put on the limelight as the man behind the President’s advertisements — way back from campaigns since Marcos started out as vice governor, and then, governor of Ilocos Norte, up until his senatorial campaign, and eventually his campaign for the vice presidency and presidency. [caption id="attachment_161371" align="aligncenter" width="781"] PRESIDENTIAL Adviser on Creative Communications Paul Soriano. | PHOTOGRAPH COURTESY OF ig/PAUL SORIANO[/caption] Of course, the opposition in the film industry predictably canceled Soriano, the blood nephew of First Lady Liza Cacho Araneta-Marcos. Dolly de Leon It was also during the BBM era that Filipina actress Dolly de Leon gained international fame for her performance in the 2022 Cannes Palme d’Or winner Triangle of Sadness. [caption id="attachment_161366" align="aligncenter" width="705"] Dolly de Leon gained international fame for her performance in the 2022 Cannes Palme d’Or winner ‘Triangle of Sadness.’ | Photograph courtesy ofig/dolly de leon[/caption] The 54-year old film, television and theater actress made history by becoming the first Filipino actor to be nominated at the British Academy Film Awards and Golden Globe Awards. Filipino movie fans and critics, having been exposed to global content since the rise of the streamers, plus the proliferation of self-published movie reviews, are generally still disappointed with the output and system of the Philippine film industry, but filled with hope that, with full support from the government, Philippine cinema will finally become truly internationally competitive, sustainable and recognized. The post Phl cinema in the first year of BBM appeared first on Daily Tribune......»»
Sigma Delta Phi enters new phase with a bang… and a boogie
The invitation said 4 p.m., 27 May, Turf Room at the Manila Polo Club. Bring vaccination cards… and your dancing shoes. For everyone who joined the Sigma Delta Phi Alumni Association Induction of 2023-2025 Board of Directors and Officers — and first At-Home — the last part highlighted an intrinsic characteristic of this sisterhood: The spirit of fun. [caption id="attachment_146583" align="aligncenter" width="525"] Style and substance made up the first At-Home this year for Sigma Delta Phi.[/caption] Indeed, members of this Greek-letter society born in the University of the Philippines converged that Saturday afternoon to witness the induction of the new set of leaders who would take the organization into another phase of learning, growth and service in the next two years. Up the stairs and into the Turf Room, Sigma Deltans gathered, the setting gorgeous with fresh flowers, twinkling lights, a stage set with glittering decorations. And for that extra detail that never fails to thrill, a little gift to each attendee lay by each plate, courtesy of the generous Monalisa “Mona” Lacanlale ’68 — president and chairperson of the Board. [caption id="attachment_146591" align="aligncenter" width="525"] Mona Lacanlale inspires everyone with her plans and programs.[/caption] Her team members, of course, came in full force, never mind the uncertainty of the weather that day. Emcees Nikki de Vega ’97 (1st VP, Chairperson of Membership Committee and Francia Jessica “Bing” M. Roldan ’98 (2nd VP, Chairperson of Education and Culture Committee) went on stage to start the ball rolling. [caption id="attachment_146594" align="aligncenter" width="525"] Hosts Nikki and Bing put some ‘90s pizzazz into their hosting duties.[/caption] Vangie Balba-Abella ’90 (Liaison Officer, Chairperson of Chapter Relations) gave a meaningful prayer. [caption id="attachment_146592" align="aligncenter" width="525"] Atty. Ebette Palma introducing the incoming president of the board.[/caption] “We are grateful for the opportunity to be part of a sisterhood that fosters growth, friendship and a commitment to making a positive impact in our communities,” went part of the prayer. “We recognize that each one of us brings unique talents, experiences and aspirations to this sorority, and we acknowledge the strength that lies within our diversity.” [caption id="attachment_146590" align="aligncenter" width="525"] The past board members came to turn over to the new: (From left) Chit Juan, Iris Bonifacio, Doc Baby Allado, Isabel Melgar, Mari Anenias and Trina Prodigalidad.[/caption] [caption id="attachment_146588" align="aligncenter" width="525"] Previous board members along with SDP Reunion and SDP Plaza Committee pose with the new President: (From left) Isabel Melgar, Chit Juan, Lynett Villariba, Trina Prodigalidad, Monalisa Lacanlale and Linda Bacungan.[/caption] Her beautiful words were a timely reminder of our unique ties — one that had always been rooted in “respect, empathy and inclusivity, where every voice is heard and every member feels valued,” she went on to say. [caption id="attachment_146585" align="aligncenter" width="525"] (Clockwise from top left) EJ Abadilla 2000, Ish Caparas 2000, Cerise ‘95, Gisselle ‘95, Deen Libatique 2000, Aimee Rabago 2000, Mitch ‘98, Frennie ‘97, Bing Roldan ‘98.[/caption] The formal turnover began with the induction proper led by Marife Zamora ’68, highlighted by the mace turnover. Dinner followed the short but impactful speech by the new SDP Alumni Association leader, Mona ’68, whose energy set the mood for the whole memorable evening. [caption id="attachment_146584" align="aligncenter" width="525"] Ynna Gabriella Evangelista Ocampo (Gabbie) 2022, Solita Garduño Collás-Monsod (Winnie) ’58, Patricia-Ann T. Prodigalidad (Trina) ’88, Paulyn Jamaima Faith Bala Alonzo (Pau) 2022, Maria Recelyn Carable Agdon-Marasigan (Yeye) ’96, Hanna Echavari Balacanao (Han)2022, Ysabella Patrice Rael Balon (Pat) 2022, Karylle Cassandra Canillo Dotaro (KD) 2022 and Charina Grace dela Cruz (Chav) ‘96.[/caption] Mangrove restoration Passion and purpose drive and guide Sigma Deltans to not just strive for excellence in their own fields, but to make a difference in the community. Toward this end, the new Board laid out its goals for the next two years. Along with ongoing projects like digitalization and keeping certain traditions, two major projects will be established. The first is mangrove restoration in selected locations across the country, to be led by Maria Fe “Marife” Recinto ’83 (3rd VP, Chairperson of Social Action and Civics Committee; Environmental Concerns Committee). Feeding programs in each locale will be organized as part of the mangrove sustainability campaign. “Mangroves are very important as they are breeding sites of many sea creatures. What’s more, they help against erosion and are protection against tsunamis. Have you also ever stopped to see the beauty of their roots?” said artist Ofelia Gelvezon Tequi ’59 in a Viber chat. Musical production The second project is closest to the heart of SDP, a Society of Dramatics and Fine Arts. Announcement of a musical production was met with loud applause. “The project on the musical is a long time due, and it will entail a lot of time and work, but this is a great project,” commented Cecille ’74. [caption id="attachment_146587" align="aligncenter" width="525"] (From left) Celia Sandejas, Juno Henares-Chuidian, Rescy Bhagwani, Iris Bonifacio and Elvira Henares-Esguerra.[/caption] With hope and enthusiasm for a renewed sense of commitment to the sisterhood, Sigma Deltans enjoyed the rest of the night dancing to various tunes of different decades. [caption id="attachment_146586" align="aligncenter" width="525"] Winnie Monsod enjoys a dance.[/caption] SDP Board officers Elizabeth “Ebette” Palma ’68 (Treasurer); Jo Kristine “Kaye” G. Celera 2000 (Corporate Secretary); and Maribel Guevara Cabrera ’75 (Head Executive Officer) led the dancing, though it took not much prodding for fun-loving sisters to join in. “Never saw dancing like this. The entire place was a dance floor. Everyone danced in front, at the sides and back. Those that cannot walk danced!” commented Maribel the next day. “It was something different,” recalled Board president Mona, who made sure every detail was perfect. All 123 guests enjoyed a feast, music and a camaraderie that transcended age and time. Till the next At-Home! The post Sigma Delta Phi enters new phase with a bang… and a boogie appeared first on Daily Tribune......»»
Morocco elected to WHO Executive Board for 2022-2025
RABAT-The Kingdom of Morocco was elected to the Executive Board of the World Health Organization (WHO) for the period 2022-2025, representing the group of Eastern Mediterranean States (EMR), during the 75th World Health Assembly held in Geneva from May 22 to 28, the Ministry of Foreign Affairs, Afr.....»»
Colmenares says he has no plans to run for Senate in 2025 midterm polls
CEBU CITY, Philippines — Bayan Muna chairperson and human rights lawyer Neri Colmenares revealed that he will not be running for the Senate in the 2025 elections. In 2022, Colmenares ran for senate. However, he informed Cebu media on Tuesday, March 5, that running in the 2025 polls would be challenging. “Medyo mahirap tumakbo sa.....»»
PSE has until 2025 to spend money it raised in 2018
The PSE disclosed that its board of directors voted to approve an extension of the timeline for its disbursement of the P2.8 billion in net proceeds that it raised through a 2018 stock rights offering......»»
PRSP 2024-2025 Board of Trustees takes oath of office in Malacanang
Officers and members of the Board of Trustees of the Public Relations Society of the Philippines (PRSP), 2024-2025, were formally sworn into office in an official oath-taking ceremony held recently in Malacanang Palace. The new PRSP board members took their oath of office before Hon. Cheloy Velicaria-Garafil, Secretary of the Presidential Communications Office (PCO). This […].....»»
EDITORIAL — Deepfakes in the 2025 polls
In the 2022 general elections, advocates for clean and honest polls lamented the widespread use of digital technology for spreading misinformation and disinformation to influence the vote......»»
USD3.32-B Loan Approved by BSP
On Monday, the Bangko Sentral ng Pilipinas (BSP) announced that the Monetary Board approved USD 3.32 billion in medium-to-long-term (MLT) foreign borrowings for Q4 2023. From October to December 2023, the public sector’s foreign borrowings rose by 65.8%, reaching USD3.32 billion, up from USD2 billion in the same period in 2022. This brought the total […].....»»
Philippines approved investment projects up 73 pct in 2023
MANILA, Jan. 14 (Xinhua) -- The approved investment projects in 2023 amounted to 1.26 trillion pesos (roughly 22.5 billion U.S. dollars) in 2023, 73 percent higher than in 2022, Philippine Department of Finance (DOF) said Sunday. Citing an updated report of Board of Investments (BOI), the DOF said in a press release that the approved investments comprised 311 projects, mainly on renewable energy, telecommunicati.....»»
Xinhua world economic news summary at 0900 GMT, Jan. 14
MANILA -- The approved investment projects in 2023 amounted to 1.26 trillion pesos (roughly 22.5 billion U.S. dollars) in 2023, 73 percent higher than in 2022, Philippine Department of Finance (DOF) said Sunday. Citing an updated report of Board of Investments (BOI), the DOF said in a press release that the approved investments comprised 311 projects, mainly on renewable energy, telecommunication infrastructure,.....»»
Philippines approved investment projects up 73 pct in 2023
MANILA, Jan. 14 (Xinhua) -- The approved investment projects in 2023 amounted to 1.26 trillion pesos (roughly 22.5 billion U.S. dollars) in 2023, 73 percent higher than in 2022, Philippine Department of Finance (DOF) said Sunday. Citing an updated report of Board of Investments (BOI), the DOF said in a press release that the approved investments comprised 311 projects, mainly on renewable energy, telecommunicati.....»»
Xinhua world economic news summary at 0900 GMT, Jan. 14
MANILA -- The approved investment projects in 2023 amounted to 1.26 trillion pesos (roughly 22.5 billion U.S. dollars) in 2023, 73 percent higher than in 2022, Philippine Department of Finance (DOF) said Sunday. Citing an updated report of Board of Investments (BOI), the DOF said in a press release that the approved investments comprised 311 projects, mainly on renewable energy, telecommunication infrastructure,.....»»
Duterte meets press
Former President Rodrigo Roa Duterte speaks before members of the media at the Grand Men Seng Hotel in Davao City on Saturday evening, 6 January 2024, the first since he stepped down as President on June 30, 2022. He announced, among others, that he has retired from politics, will not run for mayor in 2025, that President Marcos is “fine.” MindaNews photo by MANMAN DEJETO.....»»
Philippine investment approval hits record high of 20.8 bln USD in 2023
MANILA, Dec. 27 (Xinhua) -- The Philippines has approved 1.16 trillion pesos (around 20.8 billion U.S. dollars) in investments in 2023, the highest in the last five decades, the Philippines' Board of Investments (BOI) reported on Wednesday. The BOI, an attached agency of the Department of Trade and Industry (DTI), said foreign investment approvals increased 452 percent from 2022, and domestic investment approval.....»»
Philippine investment approval hits record high of 20.8 bln USD in 2023
MANILA, Dec. 27 (Xinhua) -- The Philippines has approved 1.16 trillion pesos (around 20.8 billion U.S. dollars) in investments in 2023, the highest in the last five decades, the Philippines' Board of Investments (BOI) reported on Wednesday. The BOI, an attached agency of the Department of Trade and Industry (DTI), said foreign investment approvals increased 452 percent from 2022, and domestic investment approval.....»»
SM’s Steven Tan named Winshang’s 2023 International Influential Person in Shopping Centers
SM Supermalls president Steven Tan was recognized as one of Winshang’s Golden Censer Prize winners for being "The International Influential Person of the Year 2023 in Shopping Centers" at the 2023 China (International) Shopping Center Summit in Shanghai on 24 August 2023. The Golden Censer Prize is a large-scale professional recognition of China's commercial real estate and famous brands initiated by Winshang, in collaboration with mainstream industrial media, based on field research, data analysis and media surveys, among others. Tan, who assumed the role of President of SM Supermalls in 2020, has been a key figure in the growth and innovation of the mall chain in the Philippines and China. As president, he oversees mall operations in both countries, carrying forward SM's 65-year legacy of retail innovation and outstanding customer service. SM Mall of Asia Complex Under his leadership, SM Supermalls withstood the challenges of the pandemic and rebounded as the economy slowly opened up amid the global health crisis. With the guidance of the Sy family, Tan made sure that SM responded with an agile, innovative and proactive approach to cater to the needs of all stakeholders, from employees and tenants to shoppers. SM City Yangzhou SM City Sto. Tomas The mall’s strategies -- adapting the tenancy mix, creating novel reasons to attract visitors to malls, targeting new customer segments through innovative marketing and developing omnichannel services -- enabled them to gain the trust and loyalty of modern shoppers during the pandemic. Because of this, SM managed to recover and exceed pre-pandemic revenues and income by 2023. In line with their latest expansion program, SM continues to open new malls in China and the Philippines. This brings the total number of shopping centers, locally and internationally, under Tan's stewardship to 93, featuring a cumulative construction area of over 10.8 million square meters and a daily foot traffic of more than 4.2 million. The latest malls to open were SM City Yangzhou last 28 September 2023 and SM City Sto Tomas, Batangas last 27 October 2023. Tan’s exceptional efforts were also honored by various international organizations over the years. He received numerous accolades including the 2021 Asia's Most Influential by Tatler Asia, the 2022 Asia Pacific Women's Empowerment Principles Awards Leadership Commitment by United Nations Women, and the Global Filipino Executive of the Year at the Asian Chief Executive Officer Awards, just to name a few. His dedication and visionary leadership continue to shape the landscape of shopping centers and commercial real estate, not just in Asia but also across the globe. Steven Tan receives the 2023 PeopleAsia People of the Year Award. Tan shared the Winshang Golden Censer Prize with his two co-awardees, namely Powerlong Real Estate Holding’s Co-president Chen Deli, and SCE Commercial Management Holdings' chairman of the board Huang Lun. SM Supermalls is a subsidiary of SM Prime Holdings Inc., with 85 malls in the Philippines and 8 in China. The post SM’s Steven Tan named Winshang’s 2023 International Influential Person in Shopping Centers appeared first on Daily Tribune......»»
Chip maker Intel beats earnings expectations as it pursues rivals
US chip giant Intel on Thursday said it made more money than expected in the recently ended quarter as it continued to invest in a "geographically balanced" supply chain. Intel shares jumped more than 7 percent to $34.88 in after-market trades. "We delivered a standout third quarter, underscored by across-the-board progress on our process and product roadmaps; agreements with new foundry customers, and momentum as we bring AI everywhere," said Intel chief executive Pat Gelsinger. Intel reported revenue of $14.2 billion, which was 8 percent less than the amount seen in the same quarter a year earlier but ahead of forecasts. Net income tallied $300 million, compared with $1 billion profit in the same period in 2022, earnings figures showed. "Our results exceeded expectations," said Intel chief financial officer David Zinsner, who said earnings benefited from "expense discipline." Intel has been working to catch up with rivals, especially Nvidia, when it comes to powerful chips needed to handle the computing demands of artificial intelligence. Intel touted investments being made in chip production facilities with an aim of creating a "geographically balanced, secure, resilient supply chain." California-based Intel is seen as a key tool for the United States to reduce its dependence on major global producers, such as Taiwan's TSMC. Earlier this year, Intel announced it would spend $25 billion on a new plant in Israel, with Prime Minister Benjamin Netanyahu calling it the country's single largest foreign investment. The "agreement in principle" would see the semiconductor firm build the facility in the southern city of Kiryat Gat that would open by 2027 and operate at least until 2035, Israel's finance ministry said. Intel has been operating in Israel since the 1970s with development centers and a production site that employs some 12,000 people, the finance ministry said. In 2017, Intel acquired Israel-based Mobileye, which makes technology for automated driving systems in vehicles, for just over $15 billion. Gelsinger said Intel teams have kept operations going despite the war between Israel and Hamas. "Our utmost priority is the safety and welfare of our people in Israel and their families," Gelsinger said. "Despite all of these challenges, they're performing extremely well. I am praying for a swift return to peace." China Gelsinger said Intel was carefully studying updated rules in the United States that tighten curbs on exports of state-of-the-art AI chips to China. "We do believe that we'll have plenty of opportunity in China," Gelsinger said. "We are continuing to deploy our products there broadly, even as we comply and work with (the United States) around the regulations that they're putting in place." The new rules tighten measures from a year ago that banned the sale to China of microchips crucial to manufacturing powerful AI systems. Calls to further close the supply chain grew after the popularity of generative AI platform ChatGPT. When announcing the beefed-up curbs, US Commerce Secretary Gina Raimondo insisted they were intended to close loopholes and prevent China's development of AI for military use. "It's true that AI has the potential for huge societal benefit. But it also can do tremendous and profound harm if it's in the wrong hands and in the wrong militaries," she told US media. The rules will not affect chips used in consumer goods such as laptops, smartphones, and gaming consoles, though some will be subject to export licensing requirements. China has said it is "strongly dissatisfied" and "firmly opposes" the curbs. "The US continues to generalize the concept of national security, abuse export control measures, and implement unilateral bullying," the commerce ministry said in a statement. The post Chip maker Intel beats earnings expectations as it pursues rivals appeared first on Daily Tribune......»»
DMW to follow up on unpaid salaries of Saudi OFWs
Department of Migrant Workers Officer-in-Charge Hans Leo Cacdac said on Wednesday that they will continue following up on the settlement of the unpaid salaries of more than 10,000 overseas Filipino Workers in Saudi Arabia. In an interview, Cacdac said that the Ministry of Finance is on board to work on the financial concerns of the OFWs in Saudi Arabia. “From our talks with our own counterparts there…we were also informed that the Ministry of Finance is on board to take care of the financial matters because this would involve disbursement of funds,” Cacdac said. “It’s just hard to pin down a timeline at this point because the Saudi processes still continue. In principle, we respect the Saudi processes, and at the same time we’ll continue to persist in terms of coordination and follow-ups with the Saudi government,” he added. In November 2022, Saudi Crown Prince Mohammed bin Salman pledged to allocate about 2 billion riyals for the unpaid wages of 10,000 overseas Filipino workers employed by construction companies that filed for bankruptcy in 2015 and 2016. The DMW pledged in March to provide each worker with P10,000 in assistance while waiting for the Saudi Government to fulfill its promise. The DMW and the Department of Social Welfare and Development each contributed financial assistance for the OFWs. The post DMW to follow up on unpaid salaries of Saudi OFWs appeared first on Daily Tribune......»»
Pacquiao’s gambling gambit
Former Senator Manny Pacquiao found himself in the 10th to 13th position in a 30 September to 4 October survey for the upcoming 2025 national elections. As he is eligible to run again for senator, he appears determined to do so after completing a six-year tenure in the Upper Chamber. Pacquiao’s political ambitions were dealt a blow in the 2022 presidential elections, a predictable outcome given the overwhelming popularity of Bongbong Marcos at the time. However, if there’s one thing Pacquiao is known for, apart from being one of the greatest Filipino athletes, it’s his penchant for taking high risks and gambling with his future. It’s evident that gambling has permeated his public image by endorsing various betting platforms. Post-2022 elections, the boxing legend became associated with M88 Mansion, a company that boasts the “largest and most diversified collection of sports betting offers, casino slot games, table games, and live dealer casino games” on its Facebook page. In light of Pacquiao’s uncertain chances of returning to public service in 2025 it raises the question of whether he inadvertently promotes the erosion of Filipino morals and values by aligning himself with gambling firms and their owners. He has allowed his name and image to be featured prominently in online casino and betting ads. Whether he explicitly authorized such usage is unclear, but what is apparent is that he has aligned himself with this vice, a paradox given his Christian identity. Proverbs 13:11 warns, “Wealth won quickly dwindles away, but gathered little by little, it grows.” Pacquiao still has an opportunity to reverse this image within the two years leading up to the 2025 polls. He can choose to dissolve his partnership with Mansion and distance himself from gambling and even POGO firms. Additionally, he can demonstrate honor by disassociating himself from casinos and any activities that dehumanize Filipinos and harm families. If he secures re-election while maintaining associations with gambling companies, it’s expected that he will prioritize their interests. Pacquiao has been instrumental in passing more than 20 laws since 2010, many of which have been commendable and beneficial to the country. However, unless he takes corrective action soon, Pacquiao risks succumbing to the influence of gambling magnates and submitting to their interests, potentially overshadowing his legislative accomplishments......»»