Proudly Filipino-made e-commerce platform offers new essentials, helps small businesses badly hit by pandemic
Online shopping has become the norm this pandemic. Convenient and relatively fast, home essentials and lifestyle picks can be yours in a matter of two days without ever leaving your house......»»
Addressing the Philippines’ 2024 Threat Landscape: Kaspersky Launches KUMA Platform
To help Filipino businesses and organizations stay safe in cyberspace while embracing digitalization, Kaspersky announces today the launch of Kaspersky Unified Monitoring and Analysis Platform (KUMA), its integrated software solution that includes a set of functions for security information and event monitoring and management. The Philippines is expected to continue its double-digit growth towards $35B […].....»»
DICT seeks workers to fill over 500 digitalization programs
The Department of Information and Communications Technology recently said peopleware and collaborations with technology firms are badly needed by the government to advance 500 to 1,000 digitalization programs in the country. Mon Gutierrez, DICT chief of staff for E-Governance, said last Thursday that the government is working on only less than 10 percent of the total number of digitalization programs currently to guide 22 other government departments and 1,700 local government units. Huge gap “That’s why we’re trying to get help from the private sector to boost our capacity. We know there’s a huge gap between our goals and where we are now in the digitalization journey. We’re not even sure if we’re going to finish digitalization in the next several years,” Gutierrez said in a forum organized by the British Chamber of Commerce of the Philippines. He said the government aims to tap a range of private businesses to help train Filipinos on information technology and require them to work in the government for three to five years. Meager salaries in the government However, Gutierrez said most of those in the workforce are repelled by the meager salaries offered by the government for IT workers compared with those by the private sector. “So that’s the big challenge. It’s not exactly encouraging to work in the government when the private sector offers three times the salary of a government IT worker.” Aside from basic IT work, Gutierrez said private firms can also help the government create a gauge to be used by all its agencies in determining the progress of their digitalization efforts. Help in developing a metric system “We’re inviting other firms to help us develop a metric system to determine how we are in terms of digital transformation. Right now, there’s no such thing that would tell us how an agency is trying to achieve its digital transformation journey, whether on a scale of one to ten. For now, nobody can say where.” Through these efforts, Gutierrez said the country can seize opportunities for further economic growth as the country’s industries become diverse and its citizens more productive. “There are studies that in ten to 15 years, the amount of digital transformation happening in any country will be substantial. We see in the next 10 years that we’ll be able to surpass what overseas Filipino workers are contributing to the Philippine economy which is about 10 percent of gross domestic product,” he said. The post DICT seeks workers to fill over 500 digitalization programs appeared first on Daily Tribune......»»
Password Stealers Target SMBs in Southeast Asia
Small and medium businesses (SMBs) are the backbone of Southeast Asia’s (SEA) growing economy. Accounting for more than 90% of the private businesses in the region, this sector is responsible for generating employment, exports, and GDP growth on a per country and regional level. Hit badly by the pandemic-induced lockdowns, SMBs here are embracing e-commerce […].....»»
Proudly Filipino-made e-commerce platform offers new essentials, helps small businesses badly hit by pandemic
Online shopping has become the norm this pandemic. Convenient and relatively fast, home essentials and lifestyle picks can be yours in a matter of two days without ever leaving your house......»»
‘Trade with China should continue’
The Philippines should continue to pursue stronger trade ties with China despite rising tensions in the West Philippine Sea, according to the Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. and the Department of Trade and Industry......»»
TikTok Shop Launches TikTok Shop Business School to Help Digitize Filipino Entrepreneurs
TikTok Shop launched TikTok Shop Business School, a comprehensive one-day program for Filipino entrepreneurs that aims to equip them with the skills to grow their businesses in the digital sphere. The full-day program, which 50 TikTok Shop entrepreneurs attended, was comprised of master classes on Corporate Strategy and Business Model with Kim Lato, Founder and […].....»»
Philippines resupply boat heavily damaged
Again, using water cannons and executing dangerous maneuvers, the Chinese coast guard made another attempt yesterday to block Filipino vessels from resupplying a military outpost on the BRP Sierra Madre in Ayungin Shoal, causing “major damage” and triggering condemnation from the US, the European Union and Japan......»»
Philippines resupply boatheavily damaged
Again, using water cannons and executing dangerous maneuvers, the Chinese coast guard made another attempt yesterday to block Filipino vessels from resupplying a military outpost on the BRP Sierra Madre in Ayungin Shoal, causing “major damage” and triggering condemnation from the US, the European Union and Japan......»»
Marina Summers enters RuPaul s Drag Race: UK vs the World 2 finals
Filipino drag queen Marina Summers made it to the finals of the second season of "RuPaul's Drag Race: UK vs. the World" and is eyed as a frontrunner for the crown......»»
Agoda Unveils Asia’s Top 9 Nature Destinations
To mark the launch of Eco Deals 2024, Agoda’s flagship US$1 million partnership with the World Wide Fund for Nature (WWF), the digital travel platform has compiled a list of some of Asia’s favored nature destinations across Asia, based on searches made on Agoda in January 2024. Enric Casals, Vice President of Southeast Asia, Agoda, […].....»»
PH an ideal investment destination for UAE firms
The Philippines has been highlighted as an ideal investment destination for UAE firms, according to the Department of Trade and Industry (DTI) Secretary Fred Pascual. Speaking at the Philippines and United Arab Emirates Forum and Networking event, Secretary Pascual emphasized the country's robust economic growth and investor-focused initiatives. He urged UAE businesses to consider the Philippines as a place to grow and thrive, stating that the country is moving towards robust economic expansion under President Ferdinand R. Marcos Jr.'s leadership. Secretary Pascual also highlighted the increase in Foreign Direct Investment (FDI) in the country, with projections indicating a surge in FDI from USD 9 billion in 2023 to approximately USD 11 billion by 2024. The DTI Secretary also announced the upcoming visit of President Marcos Jr. to the UAE in December, aiming to strengthen ties between the two nations. During the forum, two Memoranda of Understanding (MOU) were signed between the Federation of UAE Chambers of Commerce and Industry (FCCI) and the Philippine Chamber of Commerce and Industry (PCCI), further enhancing the partnership opportunities between Filipino and UAE companies. Secretary Pascual expressed optimism about the potential for collaboration and the positive impact it can have on both nations' growth, innovation, and prosperity......»»
40 India-based Companies Join the Cebu-leg of India Business Roadshow in Cebu City
For the first time, India took at least 40 of their country’s biggest industries in Cebu to promote possible partnerships with the local businesses under a two-day “India Business Roadshow.” Collaboration meetings were held in the event between the Cebu Chamber of Commerce and Industry (CCCI) and the India Business Forum (IBF). The roadshow also […].....»»
Tech titan Amazon sees profit climb as cloud promises boon
Online retail colossus Amazon on Thursday said profit surged in the recently ended quarter on growing sales and more efficient deliveries, with its cloud business promising even better days ahead. The e-commerce colossus said it made a profit of $9.9 billion on sales that tallied $143.1 billion in the recently ended quarter, with more than half its operating income made from Amazon Web Services (AWS) cloud unit. Google parent Alphabet and computing colossus Microsoft this week reported rising quarterly profits, playing up demand for cloud computing enhanced with artificial intelligence. Investors, though, had hoped for better performance from Google Cloud causing the company's shares to slip. While Amazon Web Services (AWS) grew 12 percent when compared to the same quarter a year earlier, the unit's growth lagged that of rival cloud businesses operated by Microsoft and Google. "I remain very optimistic about AWS," Amazon chief executive Andy Jassy said on an earnings call. "There's a lot more there for us; then you look at the very substantial, gigantic new generative AI opportunity, which I believe will be tens of billions of dollars in revenue for AWS over the next several years." Amazon just weeks ago said it would invest up to $4 billion in AI firm Anthropic. The success of OpenAI's ChatGPT, a chatbot released last year that can generate poems, essays, and other works with just a short prompt, has led to billions being invested in the field. Anthropic agreed to use Amazon's chips to develop its next models and to use AWS for "mission-critical workloads." Amazon has already announced it aimed to soup up its Alexa voice assistant with generative AI, which the firm said would allow users to have smoother conversations. Retail rebound Amazon earnings "soared past expectations" in the quarter, according to Insider Intelligence analyst Zak Stambor. "We had a strong third quarter as our cost to serve and speed of delivery in our stores business took another step forward," Jassy said, adding its ad business grew "robustly" and AWS cloud computing business "continued to stabilize." "The retail giant's slowdown last year appears to be in the rearview mirror as it has embarked on significant cost-cutting throughout this year and sharpened its focus on key growth areas, such as its high-margin online marketplace and advertising," Stambor said. A top US antitrust regulator sued Amazon in September, accusing the online retail behemoth of running an illegal monopoly by strong-arming sellers and stifling potential rivals. "Our complaint lays out how Amazon has used a set of punitive and coercive tactics to unlawfully maintain its monopolies," said Federal Trade Commission Chair Lina Khan. Robots and drones Amazon said Thursday it will hire 250,000 full-time, part-time, and seasonal employees in the United States to handle shopping demand in the months ahead. Amazon said last week that it will expand drone delivery of certain purchases to a third US state as well as to Britain and Italy by the end of 2024. The US firm has installed a new robotics system in one of its Texas logistics centers, featuring technology like automated vehicles, mechanical arms, and computer vision technology. Amazon already uses 750,000 robots in its warehouses to speed up deliveries. "The better they get at delivery, the more it continues to grow the e-commerce market overall and Amazon's place within that market," said Insider Intelligence analyst Andrew Lipsman. But increased productivity via robots won't fix underlying Amazon worker issues, critics say. Amazon early this year eliminated some 27,000 jobs in a move it said at the time was necessary, after years of sustained hiring. Ads shine Advertising continues to be "a major bright spot" for Amazon and it has started using generative artificial intelligence to help sellers create "eye-catching" ads in its online marketplace, analyst Stambor said. Insider Intelligence expects Amazon's US advertising business to bring in nearly $34 billion this year a major leap from before the COVID-19 pandemic. The post Tech titan Amazon sees profit climb as cloud promises boon appeared first on Daily Tribune......»»
PBBM skips PCCI annual event’s end
President Ferdinand Marcos Jr. failed to attend the final day of the 49th Philippine Business Conference and Expo, or PBCE, sending Executive Secretary Lucas Bersamin instead. PBCE is the main assembly yearly of the country’s biggest trade group Philippine Chamber of Commerce and Industry. An incumbent president usually attends the second day of the PBCE to personally receive the business group’s resolution and suggestions on various issues. Malacañang did not give any detail on Marcos’ failure the biggest gathering of businessmen yearly. However, Vice President Sara Duterte attended the first day of the conference, in which she urged PCCI officials and members to join the Department of Education in reviewing the current senior high school system and provide valuable insights on skills matching in order to produce employable graduates. Besides the President, Trade Secretary Alfredo Pascual also did not make it which according to the Department of Trade and Industry communication’s chief, Undersecretary Kim Lokin, Pascual has not been feeling well since Wednesday. Cabinet officials, however, were in the event. They included Transportation Secretary Jaime Bautista, Information and Communications Technology Secretary Ivan John Uy, Energy Assistant Secretary Mario Marasigan and Internal Revenue Commissioner Artemio Lumagui Jr. Resolution submitted Bersamin received PCCI’s resolution, handed over by PCCI president George Barcelon and PBCE chairperson Felino Palafox. The resolution included the positions of various sectors, namely agriculture, energy and power; the environment and climate change; education and human resources development; industry and trade; ease of doing business and stability of rules and regulations; infrastructure, transport and logistics; innovation and digitalization; taxation, and tourism. Under the sectors of agriculture, energy and power, the business group urged the national government to develop a long-term plan to attain food security in agriculture and fishery through infrastructure support, technology transfer, product diversification, export enhancement, economies of scale, and adherence to the improvement of value chains and supply chains. For energy and power, the PCCI wanted the Marcos administration to ensure adequate and affordable power supply throughout the country by considering modern technology and harnessing renewable energy resources that meet the criteria of reliability and affordability. In terms of caring for the environment and climate change, PCCI officers and members also wanted the government to update and continue the execution of the National Framework Strategy on Climate Change (2010- 2022) which envisions a climate risk-resilient Philippines with healthy, safe, prosperous, and self-reliant communities and thriving and productive ecosystems. For education and human resources development, the government was urged to propel the Philippine education system to world-class status by harnessing new technologies, fostering innovation, and implementing comprehensive reforms that will prepare students for success in the digital age and the globalized world of work. Empowering businesses For industry and trade, the Marcos administration wanted to empower industries and enterprises by providing them with the necessary tools, resources, and support programs to enhance their competitiveness both in the domestic and international markets, contribute to economic growth, and promote innovation in the Philippines’ industrial and trade sectors. Furthermore, the government was also advised to provide a stable and predictable business environment by ensuring clear, consistent, and transparent regulations, streamlining and simplifying bureaucratic processes, reducing unnecessary red tape, and eliminating barriers that hinder business growth and development. Bersamin received PCCI’s resolution, handed over by PCCI president George Barcelon and PBCE chairperson Felino Palafox. Despite the ongoing Build, Better More infrastructure program, PCCI urged the government to implement a comprehensive national infrastructure, transportation and logistics master plan that outlines a long-term vision for connectivity and country-wide development. Together with the goal of urban decongestion, the strategy shall encompass the development of growth/business centers in different regions to create more employment opportunities and encourage people to relocate outside Metro Manila. The post PBBM skips PCCI annual event’s end appeared first on Daily Tribune......»»
Digitalization call exempts none
The call for digitalization is real and businesses including micro-enterprises must respond to the challenge, Ferdinand “Perry” Ferrer, who is chairperson of the committee on Digital Innovation and Science and Technology of the Philippine Chamber of Commerce and Industry, said. The country is falling quite behind in the digitalization race as most of its neighbors made significant advances through the collaboration of their governments and the private sector. He said that the country’s neighbors have fully embraced digitalization since the global pandemic hit. In an interview with the Daily Tribune’s online show Straight Talk, Ferrer said only half of Philippine businesses have embraced financial technologies and the digital economy. “Half of the Philippines are still not connected. I believe the numbers are 50 to 52 percent of the nation, are still not connected to the Internet, are underserved or have spotty connections,” Ferrer lamented. Connection to the digital world is considered the answer to financial inclusion if only gadgets and strong connections are provided. “That is where we believe that the Philippines has a significant opportunity to drive economic activity once we connect these entities and these businesses. Imagine the opportunities that neophyte businesses would have once they’re connected to the Internet,” he said. Ferrer said a huge opportunity, not just locally but globally, is presented to new business owners if they will use the Internet to promote their brands and services. “We are happy that President Ferdinand ‘Bongbong’ Marcos Jr. had stressed, even in his last State of the Nation Address, that digitalization and connectivity are his priorities, and we support that 100 percent,” according to Ferrer. When he spoke at the 77th session of the United Nations General Assembly in New York City, Marcos also stressed his belief that digital transformation would allow the Philippines and other small nations to keep abreast of a changing world. “Our governance structures must keep up. The world is ready for a transformation. It is up to us as leaders of our nations, to move and shape that transformation,” stated Marcos. “Technologies are rapidly transforming human life and experience. We still barely understand how these transformations are unfolding and where they are leading,” he continued. Marcos added that employing emerging technologies could solve many of the country’s problems but could also disrupt the political and social order. Satellite connectivity steps in Ferrer said in support of full connectivity, the PCCI has launched a project to connect far-flung areas to the Internet through satellite. The first phase of the project called Proof of Concept, or POC, will entail the setting up of the Internet via satellite in six geographically isolated and disadvantaged areas, divided equally among the three main islands of Luzon, the Visayas and Mindanao. The second phase will seek to push the government to have its satellite to connect the entire country to the Internet. “The Department of ICT is open to looking at all technologies, with the intent to cascade Internet connectivity throughout the Philippines. We have been talking with new players in satellite space. Instead of rushing in, we are incorporating these companies to be part of the POC,” he said. The post Digitalization call exempts none appeared first on Daily Tribune......»»
Shopee helps MSMEs reach foreign markets
Bringing more customers to Filipino micro, small and medium enterprises, or MSMEs, is a goal of Shopee Philippines in launching the #TatakPinoy International project, The project is a groundbreaking initiative in empowering sellers to expand their business and connect with Malaysian and Singaporean buyers, strengthening the global presence of Filipino brands. In a statement, Shopee Philippines head Vincent Lee said the project will also empower Filipino entrepreneurs and artisans to showcase their talents and products to an international audience, promoting Philippine culture, craftsmanship, and ingenuity globally. Shopee’s free program will be available first to Shopee’s markets in Singapore and Malaysia, according to Lee. He said #TatakPinoy International represents a significant stride towards Shopee’s mission of empowering Filipino businesses in the digital era by giving them opportunities to grow, develop, and reach a wider audience. This can be seen in Shopee’s efforts through their various services and features, such as Shopee Live, Shopee Affiliates and Shopee University, which offer sellers an avenue to learn how to start their e-commerce business, upscale their brand, and form tight-knit communities with KOLs and buyers simultaneously. “Shopee’s core mission has consistently been to support the growth and success of Filipino entrepreneurs. This underlines our unwavering dedication to fostering local economic growth and forging sustainable opportunities for our community of local MSMEs. We will remain committed to harnessing the transformative potential of technology to facilitate long-term growth for our Filipino sellers,” Lee explained. Leveling up experience The project will soon be open to all Shopee sellers, promising a shopping experience with seamless cross-border logistics support. Lee said #TatakPinoy International is like its present system, yet with a broader reach, as it will help Filipino sellers connect with overseas buyers, which Shopee and its third-party logistics partners will process to fulfill the order successfully. Further, he said Shopee sellers and brands can maintain their local selling experience but can now reach a wider buyer pool and higher order volume to expand their consumer base to Shopee users in other markets. “Shopee’s new prgram is a significant development for the Philippine e-commerce market and aligns with the Philippines’ broader economic goals. It is expected to benefit local sellers and enhance cultural exchange and collaboration across Southeast Asia,” according to Lee. The post Shopee helps MSMEs reach foreign markets appeared first on Daily Tribune......»»
Domestic aviation rebounds this year
The local aviation industry, which was badly hit by the global health crisis, is seen to achieve full recovery this year. This was according to the International Air Transport Association in a recent forum organized by the European Chamber of Commerce of the Philippines. During the Aviation Forum last week, Yuli Thompson, area manager for the IATA in Southeast Asia, said the Philippines and the rest of the Asia Pacific region’s aviation market is swiftly recovering and seeing a consistent rise in terms of growth in international and domestic travel. Thompson said passenger traffic trends for international flights in the Philippines were logged at 75 percent of 2019 levels as of June 2023. As for the Asia Pacific passenger forecast, Yuli maintained that domestic travel will fully recover in 2023, while international travel will occur sometime in 2026. Further, Asia Pacific will be seen to lead in traffic growth in the next 20 years. “However, overcoming current challenges riding on the current momentum, and meeting full recovery will require strong interventions from all players in the aviation sector,” he said. Infra investments For his part, Cebu Pacific Air chief executive officer Michael Szucs emphasized the need to invest in infrastructure, citing that “Philippine carriers will need to quadruple in size to cater to growing demand.” In her keynote speech, Secretary Grace Poe urged stakeholders to support necessary infrastructure investments, especially following the air system glitch incident earlier this year. The senator called for the acquisition of a new Communication, Navigation, and Surveillance/Air Traffic Management. Poe also recommended the hiring of a third-party maintenance provider for the CNS/ATM system. “It is my hope that the government, the private sector, and other stakeholders can work together and collaborate on air transport projects which will not only generate economic growth but also provide our people with excellent and affordable public services that can improve the quality of life for all,” she said. Also filed by Poe is Senate Bill 1121 which proposes the creation of a Philippine Transportation Safety Board. Under the directive of the current Marcos administration, Department of Transportation Undersecretary for Aviation and Airports Roberto Lim highlighted the government’s key priorities, including aviation safety and strengthening of learning institutions. Lim further noted the agency’s priority of strengthening the Civil Aviation Training Center and engaging with the private sector as close partners for Air Transport Skills Training and Development. “If we are able to train our air traffic controllers, we would not only meet our own requirements, but the requirements of other countries. We can develop this on an institutional basis,” said Lim. Open up the industry Kurt Edwards, director general of the International Business Aviation Council, also raised the fact that much could be gained “by opening the industry and making it more known to people.” In terms of managing safety risks, Captain Manuel Antonio Tamayo, director general of the Civil Aviation Authority of the Philippines, shared initiatives to advance safety capabilities in the aviation sector through the State Safety Program. The program employs a risk-based approach to regulations, capacity building and integration of a new organizational structure for monitoring and evaluation. Meanwhile, Transportation Secretary Jaime Bautista stressed that the DOTr’s goal to rehabilitate the Ninoy Aquino International Airport through a public-private partnership agreement, which he said, will present a “landmark opportunity for economic growth, improved infrastructure, and a world-class travel experience.” Added Bautista, “We are also developing regional airports, such as the unsolicited proposals for the operations and maintenance of the Bicol International Airport, Bohol-Panglao International Airport and Laguindingan Airport.” The post Domestic aviation rebounds this year appeared first on Daily Tribune......»»
MSMEs’ digital shift needs collaboration
The global Covid-19 pandemic has profoundly impacted the micro, small and medium enterprises, or MSMEs, with the economic shocks reverberating worldwide. However, the pandemic also saw an unprecedented focus on the struggling sector. Despite being diminutive in size, MSMEs make up for the shortcoming with their sheer volume, making them a source of significant contributions to the local economy. The latest data from the Philippine Statistics Authority showed MSMEs comprised 99.52 percent of total businesses in the country, or over 998,342 Filipino enterprises delivering goods and services daily. “In the fast-paced business landscape, MSMEs are facing increased pressure to apply digital technology on their operations to remain competitive and even upscale,” Dino Velasco, the senior vice president and institutional segment marketing head at Union Bank of the Philippines, said in an interview with the Daily Tribune’s digital show Business Sense. “The Covid-19 pandemic has accelerated this trend, with businesses across the globe, regardless of size, rapidly adopting digitalization to survive and thrive in the so-called new normal,” he added. UnionBank ceded it could not take the whole task by itself. It needed to partner with stakeholders to address the enormity of the challenge. Foremost in the task is the geography of the Philippines with 7,641 islands which are broadly categorized in three main geographical divisions from north to south. Some of these islands are off-grid, which requires powering up first before they can be connected digitally and served by traditional financing facilities, like UnionBank. “We also do understand and accept the fact that we cannot do it alone. For us at UnionBank, it’s very important to work with partners and we do have partners both in the technology space and in the brick-and-mortar space that allow us to expand or reach even further. Going beyond the 80 percent of the population that are connected and reach the other 20 percent off-grid,” Velasco added. Looking at the Philippine financial landscape, the fintech space has evolved, with telcos, power providers and distributors, money business services, logistics, and others, who are present in off-grid communities as part of the whole-of-nation approach to achieving financial inclusion. Velasco went on, “We continue to partner with these vital stakeholders so that we can provide and extend our financial services to the markets in those areas.” GlobalLinker The greatest hurdles to the successful adoption of digital technology among MSME is overcoming the lack of expertise and good practices, and the associated costs. For a broader uptake of digital tools for these sectors, there needs to be more widely available standardized and even ready templates that the MSMEs can use like a plug-and-play setup. These ready templates would help avoid the appearance of costly and complicated tools and potentially enhance the opportunities for MSMEs to achieve sustainability. “That has always been the challenge for technology, not just for banking, but a lot of industries. How do we educate the more senior segment of the population,” Velasco replied when queried on how to educate MSMEs to embrace digital tools to advance sustainability. Velasco added: “What works is to educate the influencers for that more senior population of the segment. A lot of the small businesses today have in the past, involved other members of the family in running their businesses and they become part of educating those who are trying to use technology for the first time. We noticed that we can adapt that strategy by involving these family members who influence the other members, especially those who are already digitally savvy.” In addition, UnionBank has launched the Global Linker, an online platform designed for e-Commerce that allows users or MSMEs to create their website, while also offering them the opportunity to manage their inventories and link up with other merchants, suppliers, and even resellers. The UnionBank GlobalLinker is a digital SME online platform that aims to digitize SMEs in the country. To create trade fairs and online marketplaces for Filipinos all over the country, we are dedicated to the digital education of all Filipino SMEs. Velasco explained that after creating their website through GlobalLinker, the merchants are now accessible to potential clients “wherever there may be, here or outside the Philippines.” “Imagine if you are an exporter from the Philippines and you have a potential client from India. Because of GlobalLinker, you can communicate with each other and ensure that the goods and services can be ordered and delivered to your client overseas. More importantly, this e-Commerce site is equipped with the necessary tools in ways by which customers can settle or pay digitally,” he said. Velasco continued, “And if you are using our MSME Business Banking app, you can transact overseas and pay someone using Swift (code). Basically, the GlobalLinker is business networking for MSMEs and startups.” Mobile app introduced In the age of a growing demand for digital presence, Velasco said it goes unsaid that UnionBank sees the need for digital technology as a critical tool for MSMEs that want to grow or expand. “What we’re focusing on is to feature our MSME Mobile Business Banking App that we developed to answer the needs of our customers from beginning to end,” Velasco said. “Meaning end-to-end from the time a small business owner needs to apply for an account to the time when they need to manage their businesses. Using the app right solely instead of going to other channels where they need to get out of their offices and go to the branch.” The UnionBank mobile app aims to educate its users to allow the app to let “everything happen while they’re using the app or the platform.” The app also aims to create solutions for the users, like the QR code feature to allow merchants to accept payments from their customers. “It is really an end-to-end feature from account opening to transferring funds, to paying suppliers to accept payments from their customers and up to even applying for a loan facility,” Velasco added. The mobile app is something UnionBank wants to make available in the hands of its customers by simply accessing the mobile banking app for MSMEs. Necessary journey It is no longer a choice for MSMEs. Digitalization is now a necessary journey that all MSMEs must embrace to survive and succeed. Using digital technology may save significant costs for the MSMEs, while at the same time enhancing their operations, sales, marketing, and presence. A digitized MSME may also see increased productivity and efficiency, and improved customer service. But digitalization also comes with several challenges, including technological know-how, funding, and even data security. UnionBank of the Philippines is offering several platforms to solve these challenges. All you have to do is click and download their digital platform offerings. UnionBank is committed to helping MSMEs achieve their digital transformation goals, with their expertise and cost-effective solutions. The post MSMEs’ digital shift needs collaboration appeared first on Daily Tribune......»»
Indonesia bans goods transactions on social media platforms
Indonesia has banned goods transactions on social media platforms in a new regulation, its trade minister said Wednesday, as Jakarta aims to rein in direct sales on major platforms it says are harming millions of small businesses. Calls had grown in recent months for a regulation governing social media and e-commerce, with offline sellers seeing their livelihoods threatened by the sale of cheaper products on TikTok Shop and other platforms. Indonesia is one of the world's biggest markets for TikTok Shop and was the first to pilot the app's e-commerce arm. "Now, e-commerce cannot become social media. It is separated," Trade Minister Zulkifli Hasan told a news conference in the capital, Jakarta, adding that the trade regulation came into force on Tuesday. Hasan said social commerce platforms would have a week to comply with the new rule. "Any government would protect local small businesses," he said, describing the regulation as a way to ensure "equality in business competition". The regulation means social commerce companies are now "prohibited to facilitate payment transactions in its electronic system", according to the regulation document seen by AFP. "Social commerce can place ads like TV, but it mustn't be transactional. (They) can't open shop, can't directly sell," Hasan said, without mentioning TikTok by name. Companies that did not comply would be warned first and would finally have their license to do business in Indonesia revoked, he said. Laws in the archipelago nation did not cover direct transactions through social media platforms such as TikTok, Facebook or Instagram before the new regulation. The new regulation is yet another setback for TikTok, which has faced intense scrutiny in the United States and other nations in recent months over users' data security and the company's alleged ties to Beijing. "Other countries are banning, we don't, we're regulating," Hasan said. Indonesia is now the first country in the region to act against the platform's growing popularity in social media commerce. The ministerial-level regulation -- an amendment to a trade regulation issued in 2020 -- did not need approval by lawmakers. TikTok Indonesia said the company was "deeply concerned" about the policy, which would impact millions of sellers and creators using TikTok Shop. "We respect local laws and regulations and will be pursuing a constructive path forward," it said in a statement. Meta -- which owns Facebook and Instagram -- did not respond to a request for comment. 'Markets are quiet' Hasan appeared to confirm the companies would have to choose between separate social media and e-commerce licences. "It's clear... there are no permits for social commerce. If (they) want social commerce, please, only for promotion and ads. If (they) want to sell, there are e-commerce (permits)." The regulation also sets a minimum price of $100 for certain foreign goods bought from Indonesian sellers on e-commerce platforms, according to the regulation document seen by AFP. Some offline sellers at the Tanah Abang market in Jakarta applauded the government's decision. "The government should... dare to innovate given the current situation, where markets are quiet like this," said Stevanie Ahua, a 60-year-old wholesale denim jeans seller. She said her revenue had dropped by 60 percent in recent months as buyers turned to online shops. Others such as 29-year-old cookie baker Panji Made Agung in Bali said he was disappointed by the ban. "For sellers like me, TikTok can be used for soft selling. We can become influencers and sellers at the same time," he said. Experts said the transaction ban would hit the coffers of social media platforms such as TikTok, which takes a commission from every sale. "They will definitely incur losses," said Tauhid Ahmad, executive director of the Jakarta-based Institute for Development of Economics and Finance. Indonesia's e-commerce market is dominated by platforms such as Tokopedia, Shopee and Lazada but TikTok Shop gained a significant market share since launching in 2021. Indonesia, with 125 million users, is TikTok's second-largest global market after the United States, according to company figures. TikTok's chief executive Shou Zi Chew visited Jakarta in June, pledging to pour billions of dollars into Southeast Asia in the years ahead. The post Indonesia bans goods transactions on social media platforms appeared first on Daily Tribune......»»
Indonesia bans goods transactions on social media platforms
Indonesia has banned goods transactions on social media platforms in a new regulation, its trade minister said Wednesday, as Jakarta aims to rein in direct sales on major platforms it says are harming millions of small businesses. Calls had grown in recent months for a regulation governing social media and e-commerce, with offline sellers seeing their livelihoods threatened by the sale of cheaper products on TikTok Shop and other platforms. "This trade regulation has been in force (since yesterday)," Trade Minister Zulkifli Hasan told a news conference in the capital Jakarta. He said social commerce platforms would have a week to comply with the new rule. "Any government would protect local small businesses," he said, saying the regulation was passed to ensure "equality in business competition". The regulation means social media firms will not be able to conduct direct transactions but only promote products on their platforms. "Social commerce can place ads like TV, but it mustn't be transactional. (They) can't open shop, can't directly sell," he said, without mentioning TikTok by name. Laws in the archipelago nation did not cover direct transactions through social media platforms such as TikTok, Facebook or Instagram before the new regulation. The new regulation is yet another setback for TikTok, which has faced intense scrutiny in the United States and other nations in recent months over users' data security and the company's alleged ties to Beijing. "Other countries are banning, we don't, (we're) regulating," Hasan said. Indonesia is one of the world's biggest markets for TikTok Shop and was the first to pilot the app's e-commerce arm. But Indonesia is now the first country in the region to act against the platform's growing popularity in social media commerce. The ministerial-level regulation -- an amendment to a trade regulation issued in 2020 -- did not need approval by lawmakers. Chinese technology giant and TikTok owner ByteDance and TikTok Indonesia did not respond immediately to a request for comment Wednesday. But a TikTok Indonesia spokesperson told AFP on Monday the ban would harm as many as six million local sellers who market their products on the platform. Meta -- which owns Facebook and Instagram -- did not respond to a request for comment. 'Markets are quiet' How the ban will work exactly remains unclear but experts said it could mean social media firms would have to obtain a separate approval for their e-commerce arms. "It could be that their license will be rearranged," said Tauhid Ahmad, executive director of the Jakarta-based Institute for Development of Economics and Finance. Offline sellers at Tanah Abang market in Jakarta applauded the government's decision. "The government should... dare to innovate given the current situation, where markets are quiet like this," said Stevanie Ahua, a 60-year-old wholesale denim jeans seller. She said her revenue had dropped by 60 percent in recent months as buyers turned to online shops. Others like 29-year-old cookie baker Panji Made Agung in Bali said he was disappointed by the ban. "For sellers like me, TikTok can be used for soft selling. We can become influencers and sellers at the same time," he said. Indonesia's e-commerce market is dominated by platforms such as Tokopedia, Shopee and Lazada but TikTok Shop gained a significant market share since launching in 2021. Indonesia, with 125 million users, is TikTok's second-largest global market after the United States, according to company figures. TikTok's chief executive Shou Zi Chew visited Jakarta in June, pledging to pour billions of dollars into Southeast Asia in the coming years. The post Indonesia bans goods transactions on social media platforms appeared first on Daily Tribune......»»