NFA Lanao del Sur buys palay at P19 per kilo
MARAWI CITY, Oct. 22 (PIA) - The National Food Authority (NFA) in Lanao del Sur said it is buying palay from local farmers at P19 per kilo amid its plunging prices.Khayamera Dialem, NFA Lana.....»»
PLDT buys 35% of Meralco unit
Telco giant PLDT Inc. is showing no signs of slowing down its broadband expansion, this time investing P2.12 billion to acquire more than a third of shares in a sister subsidiary......»»
Unity buys 329 towers
Unity buys 329 towers.....»»
Ayala buys St. Joseph Drug
The Ayala Group has further expanded its healthcare footprint by acquiring another pharmaceutical chain......»»
The Case for Waiting for Sales Instead of Buying Immediately
We all know someone who almost always buys the best of the best items once they release, even though it’s not that important. Impulsive buying is a common challenge for many consumers, especially those who want first dibs on all new releases. However, waiting for a sale and taking a more prudent approach will have […].....»»
UnionBank buys P237 million Series C bonds
Union Bank of the Philippines has successfully completed its dual-tranche bond offering with a bond exchange option, having purchased more than P200 million worth of bonds issued three years ago......»»
US drugmaker Bristol Myers Squibb buys Mirati for $4.8-B
US pharmaceutical company Bristol Myers Squibb announced a $4.8 billion deal on Sunday to acquire cancer drugmaker Mirati Therapeutics. Bristol Myers Squibb will pay $58 per share in cash "for a total equity value of $4.8 billion," the companies said in a joint statement. In addition, a guaranteed value certificate (GVC) could provide Mirati shareholders with a potential additional $12.00 per share, or up to an additional $1 billion in total. The statement said that both companies' boards of directors had approved the agreement. "Through this acquisition, Bristol Myers Squibb will add KRAZATI, an important lung cancer medicine, to its commercial portfolio," the statement said. It said KRAZATI targets a specific type of mutation that makes up 14 percent of non-small cell lung cancer diagnoses. "With multiple targeted oncology assets including KRAZATI, Mirati is another important step forward in our efforts to grow our diversified oncology portfolio and further strengthen Bristol Myers Squibb's pipeline for the latter half of the decade and beyond," said Chris Boerner, the company's executive vice president and incoming CEO. The post US drugmaker Bristol Myers Squibb buys Mirati for $4.8-B appeared first on Daily Tribune......»»
‘They put a price on everything’: extortion hits Mexican economy
Plots of land lie empty among lime and banana plantations in one of Mexico's most violent regions -- abandoned by their owners due to widespread extortion squeezing Latin America's second-largest economy. As in many other agricultural zones around the country, criminal gangs in the western state of Michoacan have become a major market force, driving up costs and hurting not just farmers but also consumers. Take limes, for example: despite a national increase in production, and a slowing of overall consumer price inflation, the cost of the citrus fruit rose by more than 50 percent in the past year, according to the Agricultural Market Consulting Group (GCMA), a consulting firm. The impact is huge in a country where limes are a vital ingredient in many dishes. "The prices are through the roof!" said Gabriela Jacobo, a 53-year-old housewife who now only buys a few limes a week. The threat from organized crime is such that trucks transporting limes now have police escorts, AFP reporters saw during a visit to the region. The fallout has even been felt in Mexico City, where drug and gang violence is often seen as a faraway problem and the ability to source food from all around the country eases supply problems. The price of limes in the capital doubled, reaching almost $4.5 per kilo ($2 per pound) in August. "It's not because of a supply issue," but because of extortion, said GCMA analyst Juan Carlos Anaya. Turf wars Michoacan, which covers an area as big as Costa Rica, is riven by bloody turf wars between rival gangs such as the Jalisco New Generation Cartel, Los Viagras, and La Familia Michoacana. As well as fighting over drug smuggling routes, they also compete to make money through extortion. Payment is taken in the form of a charge of 11 US cents to package each kilo of limes, a farmer told AFP, speaking on condition of anonymity due to fear of reprisal. It may not sound like much, but the region can produce about 900 tons of fruit every day. In the past, "the criminals had their fights but they left us to work. Now they don't even leave us to work,'" the farmer said. Tomato, banana, and mango producers, as well as transporters and distributors, must also pay the gangs, he said. "They put a price on everything," he added. Extortion and theft cost companies in Mexico about 120 billion pesos ($6.8 billion) a year, equivalent to 0.67 percent of the country's annual economic output, according to official figures. In the southern state of Chiapas, extortion and violence have caused food shortages in communities bordering Guatemala. "There's no electricity. There's no food. There's no water. There's no gas," a resident told AFP. The region is gripped by a turf war between the Jalisco New Generation and Sinaloa cartels that has led to dozens of business closures and forced locals to buy supplies in Guatemala, at higher cost. Even the ingredients for tortillas -- a Mexican staple -- are being purchased across the border. Cities such as Chilpancingo, the capital of southern Guerrero state, also saw widespread closures of chicken shops in the past after farmers and merchants who allegedly refused to pay extortion were murdered. 'Deep trouble' Avocado growers have also fallen prey to the battle for control of Michoacan's agricultural riches. Last year the United States briefly suspended avocado imports from the state after a US inspector checking export shipments before the Super Bowl received phone threats. To confront crime, lime producers like Hipolito Mora founded self-defense groups in 2013 that were themselves later accused of links to criminals. After vehemently denouncing drug traffickers, Mora was shot dead in June in Michoacan. "We're in deep trouble with the cartels," said his brother Guadalupe Mora, who was being watched over by several bodyguards. "They charge us a fee for everything -- basic foods, soft drinks, beers, chicken. Everything's very expensive because of them," he said. State prosecutor Rodrigo Gonzalez urged people to come forward to report such crimes. "We're committed to fighting these people, identifying them, arresting them, and bringing them to court," he said. But many fear they will suffer the same fate as Mora if they speak up. Despite the risks, the farmer said that he had no intention to leave his land. "Lots of people depend on us and our work, to provide for their families," he said. The post ‘They put a price on everything’: extortion hits Mexican economy appeared first on Daily Tribune......»»
U.S. speaker faces bipartisan pressure
United States House Speaker Kevin McCarthy is facing renewed pressure from both Democrats and Republican partymates after averting a federal government shutdown over the weekend with a 45-day stopgap funding law. US President Joe Biden on Sunday called on McCarthy to avoid another shutdown drama when the 45-day stopgap deal agreed on Saturday runs out. “I’m sick and tired of the brinksmanship,” Biden said, speaking from the Roosevelt Room at the White House. “The brinksmanship has to end. There shouldn’t be another crisis.” Biden made the call as he assured Ukraine that the US will not abandon it. An 11th-hour deal by Congress late Saturday contained no new war-time aid for Ukraine as part of a compromise between Republicans and Democrats. “I want to assure our American allies, the American people and the people in Ukraine that you can count on our support. We will not walk away,” Biden said in an address from the White House. Meanwhile, leading hardline Republican Congressman Matt Gaetz said Sunday he would move to oust McCarthy for striking the deal that was without the spending cuts demanded by the right-wing caucus. “I do intend to file a motion to vacate Speaker McCarthy this week,” Congressman Matt Gaetz told CNN. “I think we need to move on with new leadership that can be trustworthy,” Gaetz added, but acknowledging that the speaker may retain his post if Democrats bail him out. In addition to Democratic support, pro-McCarthy Republicans will work to prevent his ouster. Republican Mike Lawler told ABC’s “This Week” on Sunday that “the only responsible thing to do was to keep the government open and funded while we complete our work.” “By putting this motion to vacate on the floor, you know what Matt Gaetz is going to do? He’s going to delay the ability to complete that work over the next 45 days,” Lawler said. If Congress had failed to keep the government open, the closures would have begun just after midnight (0400 GMT Sunday) and would have delayed salaries for millions of federal employees and military personnel. Among other immediate effects, the majority of national parks would have been shuttered to the public from Sunday. The stopgap measure buys legislators time to negotiate full-year spending bills for the rest of fiscal 2024. WITH AFP The post U.S. speaker faces bipartisan pressure appeared first on Daily Tribune......»»
NFA buys farmers’ harvests at higher prices
Farmers from different regions are enjoying better profits for their yields this harvest season. It is because the National Food Authority is now buying their rice harvest at much better and higher prices. Buying at farm gate prices of P16 to P19 per kilogram for fresh palay and P19 to P23 for dry palay, the Department of Agriculture's Rice Industry Development on Sunday said that farmers around the country are happy with the increase in the buying price of NFA which was ordered by President Ferdinand Marcos, concurrent Agriculture Secretary, on Monday last week, to ensure that farmers, who are currently harvesting their wet season crop, would not suffer from abruptly declining prices for their fresh harvest beginning this month. The DA-RID head, Undersecretary Leo Sebastian, said the new higher prices of NFA are the traders' benchmark in setting their buying prices from farmers for the fresh palay. With the mandated price hike for NFA such drastic price declines would not materialize. Sebastian said most areas of Central Luzon and portions of Mindanao and the Visayas are now harvesting their palay, although many farms have suffered significant losses from the continuous downpour and torrential winds of July and August. For those who have harvested early, they were able to sell their fresh palay for as high as P24 per kilo. One such farmer is Feliciano Jaojao of Punta, Dipolog City, an officer of the Dipolog Polanco Irrigators Association, who planted early and sold his fresh palay harvest to IA in early September for P24/kg. He said only 25 percent of their irrigation association members, who till over 1,000 hectares of irrigated areas and 1,000 hectares of rainfed areas, have harvested their palay with the peak expected by the end of September. In his three-hectare farm, he was able to reap 200 bags (of 60 kilos) per hectare from hybrid or about 12 tons while his inbred farm produced 70 to 100 bags per hectare. Another farmer, Gabriel Cale of Surigao Sur, 64, also harvested early and sold his fresh palay at P23 per kg farmgate. “Wala pang price cap sa bigas noon,” he stressed. “Now the price of 160 (brand of palay seed) is selling for P20 a kilo and this premium rice is being sold in the market for P50 per kilo. The current farmgate price is P18 to P19 for inbred and P18/kg for hybrid,” he reported. Both farmers, however, appealed to the NFA to reduce its required moisture content for selling dry palay to it and to buy more aggressively fresh palay to ensure that farmers would enjoy fair prices for their produce. They also suggested that NFA simplify the processing of payments and to pay in cash (not checks) so that they would not keep going back and forth to the NFA warehouses. NFA Acting Assistant Region 11 Manager Floreena Lorainaon the other hand told the farmers attending the 16th National Rice Technology Forum in Digos, Davao del Sur, that the guidelines to implement the new NFA buying prices would be issued next week. She explained that with the Rice Tariffication Law, the NFA is only allowed to buy palay and rice to build the country's buffer stocks for up to 15 days only for emergency purposes like relief for calamity victims. “We also have only three trucks so we can’t service all the farmers. We already pay in cash for up to 200 bags of 50 kilograms,” she said. They agreed that the imposition last September 5 of the price cap for regular milled rice at P41 per kg for regular milled and P45 for well-milled coincidentally led to less imported rice being sold in their markets, which is good for local farmers. Along with thousands of farmers all over the country, they participated in the National Rice Technology Forum held in Hagonoy, Davao del Sur, which showcased different hybrid and inbred rice technologies along with various soil nutrients, including biofertilizers and organic fertilizers. They visited 18 different demo farms of at least one hectare which showcased the different yield potentials and other benefits of such technologies. The post NFA buys farmers’ harvests at higher prices appeared first on Daily Tribune......»»
AboitizPower buys back shares amid PSE slump
Aboitiz Power Corp., or AboitizPower, purchased 11.407 million of its shares as part of its buy-back program as of the 19 September closing. The company said the move was needed to “create further shareholder value” as its current share price range fails to reflect the value of the company. As the shares are undervalued due to the poor state of the market, the buyback is expected to inspire investors to look at the real value of the shares. “Even with this stock buy-back program, there is no intention to delist from the PSE, but merely to reward our existing shareholders with a larger share of a brighter future,” the company said. The Philippine Stock Exchange or PSE, however, announced AboitizPower, the listed investment arm of the Aboitiz Group for energy-related ventures, will be dropped from the index of bellwether shares by next week. In a memorandum dated 20 September, PSE president Ramon Monzon confirmed AboitizPower’s removal from the index will be effective starting 26 September. This developed even after AboitizPower committed not to exit the index amid speculations that the company may opt to delist after its public float fell below the required threshold. Based on the new rules governing the PSE, all companies in the local bourse indices are required to maintain a minimum public float level of 20 percent. AboitizPower chief executive officer Emmanuel Rubio also conveyed that the company, which accounts for one out of every five megawatts or MW of installed capacity in the Philippines, is still in a strong position to create long-term shareholder value. “With a pipeline of about 1,000 MW of new renewable energy capacity, we are well on our way to contributing an additional 3,700 MW of clean electricity,” Rubio said. During the first half of the year, the company reported that it logged a P17.8-billion net income, 79 percent higher than the P10 billion recorded in the same period a year ago. During the second quarter alone, the company’s net income reached P10.3 billion, 46 percent higher than last year’s P7 billion. AboitizPower’s generation and retail supply businesses recorded earnings before interest, taxes, depreciation, and amortization or EBITDA of P30.2 billion during the first six months. The EBITDA, used to measure a company’s financial health and ability to generate cash, was 31 percent higher than the P23.1 billion recorded in the same period last year due to “fresh contributions” from GNPower Dinginin. From the start of the year until the end of June, AboitizPower said its capacity sold increased by 25 percent to 4,718 MW from 3,785 MW a year ago. The post AboitizPower buys back shares amid PSE slump appeared first on Daily Tribune......»»
US, China call for stable ties in latest top-level talks
America's top diplomat and China's vice president voiced hope Monday for more stability in the often tense relationship as the rival powers held their second high-level talks in days. US Secretary of State Antony Blinken, meeting Vice President Han Zheng in New York on the sidelines of the UN General Assembly, said he believed in "face-to-face diplomacy" to deal with disagreements. "I think it's a good thing that we have this opportunity to build on the recent high-level engagements that our countries have had," Blinken told Han as they opened their meeting at China's mission to the United Nations. The talks aim to "make sure that we're maintaining open communications and demonstrate that we are responsibly managing the relationship between our two countries." Han said that the world's two largest economies face "a lot of difficulties and challenges." "The world needs healthy and stable US-China relations, which benefit not only China and the US, but the whole world," he said. The meeting comes as the United States watches personnel changes in Beijing with growing intrigue. Qin Gang, handpicked by President Xi Jinping as foreign minister, was abruptly replaced in July by the veteran policymaker Wang Yi. US officials initially expected Wang to travel to the annual UN meeting, where he may have met briefly with President Joe Biden; but instead, China sent Han, better known for his tenure as mayor of Shanghai than for diplomacy. But Wang, who also is the Communist Party foreign policy director, held talks over the weekend with Biden's national security advisor, Jake Sullivan, in Malta. The United States and China remain at loggerheads on a host of issues including Taiwan, the self-ruling democracy that Beijing claims and has not ruled out seizing by force. China charges that the United States is stirring up Taiwanese independence supporters, and has repeatedly staged shows of force. The United States says it is seeking the preservation of the status quo and has stepped up support, including last month for the first time approving direct military aid to Taiwan, which traditionally buys its own weapons. Blinken in the talks "underscored the importance of maintaining peace and stability across the Taiwan Strait," State Department spokesman Matthew Miller said. Touching on nations with close ties with China, Blinken also discussed the "provocative actions" by North Korea and Russia's invasion of Ukraine, Miller said. China has also been outraged by US restrictions on high-end investment and exports of semiconductors from the United States, which says it is doing that to safeguard its own security. But the tone has become comparatively civil. Blinken and Treasury Secretary Janet Yellen both traveled this year to Beijing, resuming contact that had all but ceased during the pandemic. The approach to China stands in contrast with the US refusal of most dialogue with Russia since the invasion of Ukraine, with Blinken and other senior US officials doubting the utility of talking to Moscow. The post US, China call for stable ties in latest top-level talks appeared first on Daily Tribune......»»
Filipina who buys fake passport on TikTok intercepted at NAIA
The Bureau of Immigration (BI) reported on Saturday afternoon that the BI officer at Ninoy Aquino International Airport (NAIA) intercepted a Filipina after she presented a fake Belgian passport that she bought from TikTok. BI Commissioner Norman Tansingco said that the said passenger was intercepted on 5 September at NAIA Terminal 1 after she attempted to depart the country pretending to be a Belgian national. The bureau identified the Filipina passenger as Josephine, who attempted to depart via Kuwait Airways bound for Ercan, Cyprus. BI-NAIA said that Josephine initially presented her Belgian passport to the immigration departure counter, claiming that she was transiting from Kuwait to Izmir, Turkey. However, the BI officer who examined her travel documents found a number of discrepancies on her passport and supposed arrival stamps. She was immediately referred to the duty supervisor, who then sent all her travel documents for forensic examination. After examining her travel documents, the BI’s forensic documents laboratory confirmed that Josephine’s passport, residence card, and immigration stamps were all counterfeit. Josephine later admitted that she has a Philippine passport and used to be an overseas Filipino worker in Israel but she was deported from Israel earlier this year for working without a valid visa. Then, she came across a TikTok video offering EU passports to travel visa-free to multiple countries. She said that she paid a total of P700,000 for her fake documents and she was promised to work in Greece as a caregiver, with an offer of P180,000 per month. After she was offloaded with her flight by the BI, Josephine was immediately turned over to the Inter-Agency Council Against Trafficking (IACAT) for further investigation and assistance. The post Filipina who buys fake passport on TikTok intercepted at NAIA appeared first on Daily Tribune......»»
GSIS buys up 12% MPIC stake
State pension fund Government Service Insurance System, or GSIS, has accumulated shares in diversified Metro Pacific Investments Corp,, or MPIC, the flagship company of tycoon Manny V. Pangilinan which is up for bourse delisting. The state financial institution led by veteran investment banker Wick Veloso has amassed the MPI shares the past two weeks, buying a total of 2.5 billion shares from 23 August to 4 September. In a report to the stock market, MPIC said it received a letter from GSIS dated 4 September informing the company that from 23 August to 4 September, GSIS purchased 2,490,509,574 common shares of MPIC. GSIS also mentioned that as a result of these purchases, GSIS now owns 3,438,549,038 common shares which represents approximately 11.98 percent of the total outstanding common shares of MPIC. Strong challenge Analysts said the GSIS move poses a challenge to the MPIC proposal to leave the stock exchange. COL Financial research head April Lynn Tan said that with the purchases, MPIC share owners may not attain its target to acquire 95 percent of the company which is pivotal to the delisting plan. MPIC chairman and chief executive Manuel Pangilinan on Monday expressed hope the consortium would secure enough shares to push through with the plan. “The tender period will expire on 7 September, so let’s wait. We are hopeful that the amount of shares will translate to qualification for delisting,” Pangilinan said. In a social media post, Tan said the delisting option can still pull thorugh. “According to industry peers, there is still a chance that the delisting will push through. Since GSIS now owns 12 percent (more or less) it might not be counted in the public float based on PSE proposed amendments. This means that the tender offer might proceed if over 14.58 percent of share owners tender their shares,” she added. The post GSIS buys up 12% MPIC stake appeared first on Daily Tribune......»»
Peter Jackson buys New Zealand property to thwart controversial development
The derelict former military base at Shelly Bay in Wellington harbor had been earmarked to become 350 apartments, a boutique hotel and a brewery......»»
Jose Mari Chan on becoming Phl’s ‘Christmas icon’
While Mariah Carey’s “All I Want for Christmas Is You” is known as one of the most popular Christmas anthems, and South Korean mega group Exo’s “First Snow” revisits South Korean charts as the Christmas season approaches, the Philippines takes pride in Jose Mari Chan, who is known by many as the “Father of Philippine Christmas Music.” As soon as September approaches, Filipinos gear up for the Christmas spirit by starting their Christmas countdown, buying and setting up Christmas decorations, playing holiday playlists, or sharing Christmas-related posts. Known for the songs “Christmas in Our Hearts,” “Mary’s Boy Child,” and more, Jose Mari Chan is considered the Philippines’ Christmas Icon. The Christmas icon In Boy Abunda’s talk show segment, Fast Talk with Boy Abunda, aired on 1 September, the singer said that he was initially confused with Internet memes about him, but it still gave him a good laugh. However, Chan does not want to be called “The King of Christmas” by Filipinos. “Because there is only one King of Christmas and that is our Lord Jesus Christ,” Chan said. He also confessed that he did not expect the massive success of his song “Christmas in Our Hearts,” noting that his producers suggested a romantic Christmas song instead of a Christian-themed song, but suddenly “Christmas in Our Hearts” became a popular hit at radio stations. Although his songs are booming in popularity as the holidays are fast approaching, the singer admitted that he does not earn much from his songs anymore. “The technology has changed: Nobody buys records, nobody buys CDs, nobody buys cassettes anymore,” he said. “We earn a little bit from Spotify, [but] not too much… and also from endorsements and doing shows, that’s all.” Still, Chan is overjoyed that Filipinos continue to associate him with Christmas up to this day. “How nice to be associated with [the] Christmas season. I mean, it’s the biggest season in the Philippines, and it’s the best-loved season.” he said. Despite the busy schedule due to endorsements and upcoming shows until the end of the year, the singer celebrates what truly matters in his life: being married to his wife for more than 50 years and a healthy, beaming grandfather of nine grandchildren. [caption id="attachment_178686" align="aligncenter" width="680"] Jose Mari Chan | SCREENGRAB FROM YOUTUBE.COM/NINONG RY TV[/caption] Jose Mari Chan-approved Christmas content Aside from the Internet memes and posts of Jose Mari Chan peeking through almost everything as a reminder that Christmas is fast approaching, there is already an abundance of content with the 78-year-old singer that will make you feel the Christmas spirit. On 30 August, social media personality Yasmin Asistido, more popularly known as Kween Yasmin, posted a duet with Chan. Both dressed in red, the duo sang the chorus of “Christmas in our Hearts.” As of writing, the video garnered over 120,000 likes and 1.5 million views on Facebook. Meanwhile, chef and social media personality Ninong Ry and Chan collaborated in a 24-minute-vlog titled, “JOSE MARI CHAN x NINONG RY — ANO PA ANG KULANG SA PASKO?” on 1 September. In the vlog, the two prepared staple Noche Buena dishes such as macaroni salad, roast chicken, and embutido, while discussing what matters the most during Christmas — keeping the tradition and spending the holiday with our family and loved ones. Chan is also set to appear on the weekend variety show ASAP Natin ‘To along with Jamie Rivera, the World Hip Hop Dance Championship 2023 Adult Division winners, the cast of the youth-oriented show Senior High and more. Some might say that Christmas does not feel like how it used to be in the past due to the advent of social media, the loss of someone special, the continuous deterioration of quality of life and the economy, or how it becomes a reminder that we are all growing older and we have adult responsibilities to face. Still, entertainers like Jose Mari Chan give us a wave of nostalgia for what Christmas should truly feel like — that the holidays should feel warm and festive even in the smallest of ways. Celebrating Christmas does not have to be glamorous every time, but it should always feel like a comforting hug, an exciting tune to a familiar Christmas song, or a hopeful reminder that we all made it through the end of the year.ac The post Jose Mari Chan on becoming Phl’s ‘Christmas icon’ appeared first on Daily Tribune......»»
Peter Jackson buys New Zealand property to thwart controversial development
Oscar-winning director Peter Jackson and his partner have bought a seaside stretch of land in Wellington to restore it to nature, they said in a statement Friday, scuppering a controversial development project. The derelict former military base at Shelly Bay in Wellington harbor had been earmarked to become 350 apartments, a boutique hotel and a brewery. But the US$298 million project divided local residents, and even sparked a nearly two-year occupation of the land by a Maori tribe opposed to the sale of the land for the project. The project was scrapped after years of legal wrangling when Wellington-born Jackson and his partner, screenwriter and producer Fran Walsh, bought the land. "It's a wonderful coastline that holds a great deal of cultural and historical significance," Jackson and Walsh said in a joint statement. "Suffice to say we are looking forward to restoring the natural beauty of the bay." The couple said that in the long term, they plan to "look at ways it could be used for both arts and recreation". The price they paid was not given. Jackson directed the "The Lord of the Rings" and "The Hobbit" blockbuster trilogies, which Walsh helped produce. The post Peter Jackson buys New Zealand property to thwart controversial development appeared first on Daily Tribune......»»
Relishing sweetness of success
A 35-year-old fourth-generation farmer is continuing the legacy of his father in producing delis from bananas, which are now making waves in Europe. Raymund Vincent Aaron, the self-styled ‘Banana Chief’ and the heir of Villa Socorro Farm and its factory that produces sumptuous banana chips headquartered in Pagsanjan, Laguna province, said he inherited his passion for agriculture and farming from his father, incorporating a streak of his own. Right after obtaining a Bachelor of Science in Management from Ateneo de Manila University in 2009, Raymund joined the budding family business. “I wanted to be an entrepreneur for as long as I can remember. We used to grow bananas on our land in Pagsanjan, and so, after graduating, doing business using bananas seemed the perfect fit,” Raymund shared. An indirect start The idea of exporting came through his father’s work in marketing for a multinational company, which inspired him to engage in international business. Starting off in 2008 with an initial capitalization of P5 million, the company produced banana chips, with the first export in 2014 to the United States. The Health Safety Certification from the Food and Drug Administration, a requirement of the Philippine authorities, was obtained in 2012, which further added credibility to the business as an exporter. “We began exporting indirectly through a local company that expressed interest in distributing our products to buyers there.” Targeting Europe According to the Department of Trade and Industry, Aaron, who has been a regular at DTI’s business matching events, recently returned from one such event held in Dubai coinciding with Gulfood 2023. Regular participation in business networking events and seminars since 2015 has provided valuable knowledge and insights on export market access, including the European Union. Be it the DTI or the Center for International Trade Expositions and Missions handling the International Food Exhibition Philippines which is the biggest international food trade show in the country, Aaron has always found participation in the trade fairs to be beneficial. “You never knew who you would meet. I always carried samples of my products along,” he said. At one such event arranged by the DTI-Export Marketing Bureau, Aaron established a connection with the Philippine diplomatic mission in Switzerland. Soon, samples from Villa Socorro reached a few Swiss companies with the help of this link. The products were a hit with one distribution company. By the end of 2019, a 20-foot container with 1,000 boxes that cost $14,000 has been shipped to Switzerland. “It was support from the EMB that helped us pursue direct exports to Europe. We made our first link through them.” Recognizing the support he received, Aaron is always willing to share his skills and knowledge with other entrepreneurs and to contribute to local DTI capacity-building initiatives. Why the EU? The EU appears to be a lucrative market for the company as Aaron gradually expands the product range by including sweet potato chips and corn snacks. About 80 percent of total current revenue comes from exports, while 20 percent comes from sales at hotels, restaurants, canteens, airports, kiosks, and selected supermarkets in the Philippines. Villa Socorro’s exports to Europe are at five percent, with buyers in Switzerland, Norway and EU member state the Netherlands. Aaron wants to increase business with Europe, specifically with EU member states, which he regards as the best destinations for healthy organic food products made from tropical fruits. “It is a market that is willing to pay a premium for natural products.” EU buyers’ requirements Aaron’s drive to grow specifically in the EU market is evident in his readiness to comply with the necessary requirements.The Registered Exporter System number to avail of the EU Generalized Scheme of Preferences Plus scheme to export tariff-free to the EU was obtained on the recommendation of the buyers to strengthen the business. The REX is a self-certification system wherein the origin of goods is declared by economic operators themselves by means of so-called statements about the origin. To be entitled to make out a statement of origin, an economic operator must be registered in a database by the competent authorities. The economic operator then becomes a “registered exporter.” Product and packaging development were also adjusted. There is a shift to use a more natural Brown Muscovado Sugar to suit customer preferences in the EU. Aaron’s company also created a sub-brand, Farmony, to market its products in the EU. “Farmony creates harmony between farmers, manufacturers, and consumers. Our existing brand, Villa Socorro Farm Sabanana Banana Chips, really targets Filipinos or people looking for Filipino products. We created Farmony to have a product that can easily blend on the shelves of the EU market,” Aaron said. Social entrepreneur Being on a farm allowed Aaron to become a social entrepreneur. He understands well the needs of the farmer. To support banana farmers around his family plantation, he buys 98 percent of the fruit from the community that he fondly refers to as “partner farmers.” “We buy bananas from more than 200 farmers in a radius of 5km around our farm. We only plant two percent of the bananas that we use for banana chips,” he said. By processing 600,000 tons of bananas every year, Aaron provides the local farmers with a market for their produce. He considers himself lucky that things fell into place, enabling him to give back to the community that helped him get to where he is today. Gearing up for the future” I am still here. I look forward to expanding our business. Sticking with the snacks theme, we’re looking at making use of the abundant farm produce in our region and the rest of the Philippines to create fun and healthy snacks.” Aaron is determined to transform his business into a reliable food company by creating an entire line of banana products and drawing in loyal customers at home and abroad. The ARISE Plus Philippines project is enabling Philippine exporters to take advantage of EU market access and the trade privileges granted under the Generalized System of Preference (GSP+). It supports the overall EU-Philippines trade relationship and trade-related policies. ARISE Plus Philippines is a project of the Government of the Philippines, with the DTI as the lead partner, together with the Department of Agriculture, Food and Drug Administration, Bureau of Customs, the Department of Science and Technology, as well as the private sector. It is funded by the EU with the International Trade Centre as the technical agency for the project. The post Relishing sweetness of success appeared first on Daily Tribune......»»
Kidapawan gives away tons of fruits during Timpupo festival
The local government buys P1 million worth of fruits from farmers for everyone to enjoy freely during the celebration.....»»
‘Here Lies Love’ co-producer says hit musical may soon be staged in Manila
After conquering Broadway with an all-Filipino cast, Here Lies Love, the musical created by David Byrne and Fatboy Slim about former First Lady Imelda Marcos, may soon be staged in the Philippines. It’s being talked about,” Don Michael H. Mendoza, a co-producer of the Broadway production, told Daily Tribune in an exclusive interview. He recently flew in from the United States for a vacation and to visit some family and friends. [gallery columns="2" size="large" ids="171941,171942"] “The hope is that the first international production will be in Manila. But they’re also considering Sydney. It’s very early in discussions, but there are plans to bring it abroad. We’ll just have to look for the right place that will house the show because the set is so different. It’s more probably like a studio space than a traditional theater.” Mendoza also confirmed having an all-Filipino cast in the planned touring production, hopefully with the current lineup led by Arielle Jacobs (as Imelda), Jose Llana (as Ferdinand Marcos Sr.), Conrad Ricamora (as Ninoy Aquino) and Lea Salonga (in a special guest role as Ninoy’s mother Aurora). “Of course, it depends on where people are at that point of time,” he pointed out. “If they haven’t moved on to other shows, what their schedules are like. So, hopefully… It would be great to bring the whole cast, but it depends on what they’ll have next.” Show vacancies In case of vacancies, the production may audition performers based in the Philippines, like it did before. This led to the question about Mark Bautista, who played Marcos in both the London and Seattle productions of Here Lies Love after it premiered off-Broadway in 2013 at The Public Theater in New York City. Jose Llana, who currently plays Marcos, originated the role off-Broadway. “We auditioned people from the Philippines,” Mendoza said of their casting process for the Broadway staging. “So I’m sure Mark auditioned. He was in high consideration.” The co-producer explained that Mark’s non-inclusion in the current cast doesn’t mean the Filipino singer-actor “won’t be in that later.” He shared the story of a friend of his who was able to join the cast months after auditioning and doing other shows. “It’s a never-say-never situation.” As for Salonga’s limited stay in the show, Mendoza said the Tony winner has another engagement, but “she might come back later down the road. But for now, she’s on until the 19th (of August).” About the unfortunate invasion of Salonga’s privacy in her own dressing room, “Lea handled it really well. The public opinion is on our side. We worked it out,” said Mendoza, adding that the production has tightened its security as a result of the incident. “Like Lea said, a ticket buys you access to the show, that’s it. Meet-and-greets, that’s because they’re nice, not because it’s in the contract. If they do a stage door greeting, that’s out of the goodness of their heart. They’re not contracted to do that, so they don’t have to entertain you after the show.” Positive reception Mendoza, who’s among the “at least 20” co-producers of Here Lies Love (aside from “five lead producers and three to four associate producers”) expressed joy and excitement when talking about how the Fil-Am community and Broadway theatergoers have received the musical. “It’s good, positive,” he said. “People are really enjoying the show. The lifespan of the show is 1945 to 1986, just after the Edsa Revolution. It is fun. It’s an enjoyable show. They liked that they learned something — even the people who really know the story, they also say that they learned something they didn’t know about Imelda or Ninoy or whoever. So, all positive. “The negative things we received are just about content. People [were] worried about watering down what actually happened, but, like I said in the interview, it’s supposed to be entertaining. It’s not a documentary, you know. If it gets you to think about something, we’ve done our job.” He also recalled the stellar opening night last 20 July, with celebrity attendees like actors Drew Barrymore and Daniel Dae Kim, comedian-TV host Stephen Colbert, filmmaker Spike Lee, singer-songwriter Shoshana Bean, hairstylist Frederic Fekkai and fashion icon Anna Wintour. “There were so many people that I heard were there, but I didn’t see them,” he said. But he didn’t miss seeing his fellow co-producers Jo Koy and H.E.R. at the opening. Mendoza said Here Lies Love has tickets open until January 2024 and its contract with The Broadway Theater, where it’s playing, is “open-ended.” So it can “keep going as long as tickets sales are up.” He then gave a satisfied smile: “So far, so good.” In the future, he said he hopes to produce more shows, including maybe an original Filipino musical or play on Broadway. “I think now that Here Lies Love has happened, it’s more possible. I won’t say it’s easy, I won’t say it’s easier. But I will say the door is now open for the others to follow.” The post ‘Here Lies Love’ co-producer says hit musical may soon be staged in Manila appeared first on Daily Tribune......»»
An old antibiotic may get new life as an STI prevention pill
The United States is set to roll out a powerful new weapon in the long fight against sexually transmitted infections: a decades-old antibiotic repurposed as a preventative pill. DoxyPEP, or doxycycline used as a post-exposure prophylaxis, has been found to significantly cut the risk of chlamydia, gonorrhea and syphilis when used after condomless sex. The Center for Disease Control and Prevention (CDC), which is developing national guidance for clinicians, will need to weigh the need to contain record high rates of STIs impacting millions of Americans against potentially giving rise to more antibiotic-resistant strains. "Innovation and creativity matter in public health, and more tools are desperately needed," senior CDC official Jonathan Mermin told AFP. But the recommendations, set for publication this summer, will remain narrow in scope. They will likely target only the most at-risk groups of gay men and transgender women with histories of prior infection. As word spreads, some clinics are already prescribing DoxyPEP. Malik, a 37-year-old man in Washington, said his doctor recently told him he could start using doxycycline as a "morning-after pill" following risky sex, something he's had to do twice -- including after a partner did not warn him he had removed his condom. Two-thirds reduction Reported cases of the three bacterial infections grew to 2.5 million in the United States in 2021, following about a decade of growth. Several issues are behind the rise: fewer people are using condoms since the advent of PrEP -- daily pills that significantly reduce chances of contracting HIV. And people who are on PrEP are recommended to undergo screening every three months, likely increasing the identification of infections. Then there is the basic epidemiological fact that the greater the number of people infected, the more they can further infect. Researchers have found DoxyPEP efficacious in three of four trials. "What we found was there was about a two-thirds reduction in sexually transmitted infection every three months," Annie Luetkemeyer, who co-led a US trial, told AFP. The physician-scientist at the University of California, San Francisco recruited some 500 people in San Francisco and Seattle among communities of men who have sex with men and transgender women. Efficacy was greatest for chlamydia and syphilis, both of which were reduced by about 80 percent, while for gonorrhea it was about 55 percent. There were few side effects. Antibiotic resistance Broadening access to doxycycline has prompted concerns about causing antibiotic resistance, particularly in gonorrhea, which is fast mutating. But early research hasn't shown cause for alarm. Connie Celum of the University of Washington, who co-led the US study, told AFP researchers tested gonorrhea samples from breakthrough infections in the DoxyPEP group and compared them to the group who didn't receive the pill. Though they found the rate of resistant gonorrhea slightly higher in the DoxyPEP group, she says the finding could simply mean the pill is less effective against already resistant strains, rather than causing that resistance. DoxyPEP could even boost responsible antibiotic stewardship -- cutting the incidence of infections, thus also cutting need for antibiotic treatment. If it slashed gonorrhea cases by some 50 percent, it could reduce the number of people requiring antibiotic treatment with the current frontline treatment drug, ceftriaxone, which doctors are eager to preserve. Longer term study is required, on both impacts on STIs but also "bystander" bacteria such as Staphylococcus aureus, which live inside people's noses but sometimes cause serious infections. 'Additional tool' Malik said that while he is glad he could use DoxyPEP as a last resort, he wishes more men were willing to use condoms. Since moving to America from South Asia, he gets relatively little interest on dating app Grindr when he says he's not willing to have condomless sex. But Stephen Abbott -- a doctor at Washington's Whitman-Walker clinic who prescribes and uses DoxyPEP -- said it's crucial to meet people where they are. "From speaking with patients, and being part of the community that's now on PrEP... I think the age of prevention through condoms is fading," he told AFP. A 42-year-old man in London who runs a cultural organization told AFP that word had spread about DoxyPEP through the international gay party circuit and he had procured a supply on the black market and through a partner who buys in bulk in Mexico. It had largely worked for him, though he did have one breakthrough infection of throat gonorrhea. He said he was looking forward to the United Kingdom adopting similar guidance so that people have the right information and aren't left to guess at the right dosage. For Luetkemeyer, DoxyPEP won't be "the answer" to the STI epidemic, and there is considerable interest in the development of a gonorrhea vaccine. "But I'm optimistic... I think this is an additional tool," she said. The post An old antibiotic may get new life as an STI prevention pill appeared first on Daily Tribune......»»