RCBC unit books P6.1 million basic deposit accounts
The thrift banking arm of Rizal Commercial Banking Corp. booked P6.13 million in basic account deposits as of the end of the second quarter in support of the financial inclusion efforts of the Bangko Sentral ng Pilipinas......»»
Subscription plan promises boosted replies at X, formerly Twitter
X on Friday unveiled a $16-a-month subscription plan allowing users who pay more to get the biggest boost for their replies posted at the platform formerly known as Twitter. The "Premium+" plan is ad-free and designed to provide "the largest reply boost" at X, the company said in a post. The plan builds on features offered in a Blue subscription plan costing $3 monthly and a Premium Plan priced at $8 monthly, according to X. Listed features of Premium+ include a blue tick next to names in profiles along with "a visible ID verification label," according to X. The platform recently started charging new users in New Zealand and the Philippines for basic features such as posting messages in a trial aimed at reducing spam. Musk has suggested charging all X users, but the idea was widely panned. Industry analysts said it would make X even less appealing to advertisers. Musk has made a number of controversial changes to the social media firm's management and product since he acquired Twitter a year ago for $44 billion. In the days after his purchase, Musk quickly fired many Twitter executives and took the publicly traded company private. He also laid off most of the San Francisco-based company's workers, cutting ranks to fewer than 1,500 from 8,000. In the months following his takeover, Musk gutted content moderation, restored accounts of previously banned extremists, and allowed users to purchase account verification, helping them profit from viral -- but often inaccurate -- posts. Musk defended such changes in the name of free speech. Over the past year, the platform's advertising business partially collapsed as marketers soured on X. Musk started charging for features once free at Twitter, such as blue tick marks originally intended as badges of authenticity, in an effort to make money from subscriptions. X is tinkering with video and audio calling at the platform formerly known as Twitter, according to a recent post by Musk. Musk in July rebranded Twitter as X, saying it would become an "everything app" inspired by China's WeChat that would allow users to socialize as well as handle their finances. The post Subscription plan promises boosted replies at X, formerly Twitter appeared first on Daily Tribune......»»
Palace: ‘Northrail met standards for abolition, not producing desired outcomes’
Malacañang announced on Saturday that President Ferdinand Marcos Jr. has ordered the abolition of the North Luzon Railways Corp. as it is no longer cost-efficient and producing desired outcomes. The Memorandum Order 17 was signed by Executive Secretary Lucas Bersamin—by the authority of President Marcos—on 19 October. The Governance Commission for GOCCs determined that Northrail has met the standards for abolition for not producing the desired outcomes; no longer achieving the objectives and purposes for which it was designed and created; not being cost-efficient; and not generating the level of social, and physical, and economic returns vis-a-vis the resource inputs. In ordering the abolition, Marcos tasked the Bases Conversion and Development Authority board of directors to act as the administrator and liquidator of Northrail. The BCDA should settle the Northrail liabilities, including the payment of separation incentive pay to affective officials and personnel as well as undertake the necessary steps in liquidating Northrail’s assets and assist in the winding up of its corporate affairs. The BCDA directors shall also conduct an inventory of all of Northrail's existing programs and projects and either terminate or transfer them to concerned government agencies. The inventory also includes the list of Northrail's assets and liabilities and how to dispose of or settle them. The BCDA is also tasked to formulate a Change Management Plan for affected stakeholders of Northrail. It shall likewise conduct an inventory of all pending cases brought by and against Northrail and formulate the appropriate actions to resolve the cases. The original copies of Northrail’s corporate books and account and financial records will be surrendered to the Commission on Audit by the BCDA board of directors. Palace said the Office of the Government Corporate Counsel shall provide the necessary legal assistance to the BCDA in this endeavor. The GCG shall monitor the implementation of the abolition of the Northrail. The Department of Transportation, as the supervising agency of the Northrail, shall continue to oversee the programs and activities relative to liquidation and winding-up of the affairs by the Northrail. Malacañang imposed the separation incentive pay to all effective personnel and officials of Northrail. Those who have rendered 20 years of service may avail of the following separation benefits of 1.00 x Monthly Basic Salary x No. of years. 20 years and 1 day to 30 years: 1.25 x MBS x No. of years 30 years and 1 day and above: 1.50 x MBS x No. of years The separation pay shall be charged against the available corporate funds of Northrail, subject to existing budgeting, accounting, and auditing policies. The Northrail was registered with the Securities and Exchange Commission on 31 July 1995. It was then created as a wholly owned subsidiary of the BCDA to develop, construct, operate, and manage a railroad system to serve Metro Manila, Central Luzon, and Northern Luzon. In 2015, the National Economic and Development Authority Board approved the North-South Commuter Railway Project, which was financed through official development assistance from Japan, effectively rendering the Northrail project terminated. The GCG ordered the “deactivation” of the Northrail, through Memorandum Order No. 2019-05 on 20 May 2019. The post Palace: ‘Northrail met standards for abolition, not producing desired outcomes’ appeared first on Daily Tribune......»»
LandBank named best for financial inclusion
The Land Bank of the Philippines, or LandBank, was recognized by Kantar Philippines as one of 2023’s Best Philippine Brands under the “Banking” category for providing convenient, accessible and innovative banking services to unbanked and underserved Filipinos nationwide. Kantar conferred the award to LandBank for its strong brand of service, decades of empowering the underserved, and for advancing financial inclusion in the country through the accessibility of its integrated physical and digital banking services. The market research firm also highlighted the Bank’s efficient delivery of cash grants to beneficiaries of the National Government’s social amelioration programs, particularly the digital disbursement of financial assistance under the Conditional Cash Transfer Program. “This recognition is a testament to LandBank’s unwavering pursuit to reach and serve more Filipinos nationwide. We are continuously working towards the strategic expansion of our physical touchpoints and the enhancement of our digital channels to deliver exceptional and accessible banking service,” said president and CEO Lynette V. Ortiz. In support of the National Government’s financial inclusion drive, LandBank has also onboarded 8.35 million Philippine Identification System, or PhilSys, registrants for their own transaction accounts, under the Bank’s co-location strategy with the Philippine Statistics Authority. The partnership aims to bank previously unbanked PhilSys registrants and grant them formal access to basic banking and other financial services. LandBank likewise has 1,111 agent banking partners, or ABPs, nationwide offering services such as cash out, cash in, fund transfer, bills payment, and opening and issuance of LandBank Agent Banking Cards in unbanked and underserved communities. The bank also offers individuals who have no capacity for operationalizing a regular deposit savings account to open a LandBank “Perang Inimpok Savings Option” or PISO account with only P1 as minimum initial deposit and up to a maximum of P50,000 account balance. As of end-August 2023, LandBank has opened 52,406 PISO accounts for unbanked and underserved Filipinos including students, public utility vehicle drivers, vendors, farmers and fishers. Kantar BrandZ report LandBank was recognized for its strong brand image in the Kantar BrandZ Philippine Report, which was based on a comprehensive survey conducted in 2022 covering 44 local brands across four categories — banks, communication providers, general retailers and beverages. Kantar is a global marketing and data analytics company that specializes in analyzing, understanding, and interpreting consumer behavior and trends. The 2023 Philippines Brand Awards is the first edition held by Kantar Philippines in the country to honor the top brands that bring value to the lives of Filipino consumers. The post LandBank named best for financial inclusion appeared first on Daily Tribune......»»
More rice, please
The distribution of confiscated rice to approximately 5,000 underprivileged beneficiaries in the Zamboanga Peninsula on Tuesday, led by President Ferdinand R. Marcos Jr. and Department of Social Welfare and Development Secretary Rex Gatchalian, marked a significant step forward. The 5,000 bags of Jasmine rice, which accounts for approximately 11.8 percent of the total 42,180 bags of imported rice valued at P42 million confiscated by the Bureau of Customs-Port of Zamboanga in a raid on a warehouse in Barangay San Jose Gusu, Zamboanga City on 19 May, effectively addressed the immediate food requirements of some of the most impoverished beneficiaries residing in the municipalities of Tungawan, Sibuco and Zamboanga City. More indigents in the province struggling with food insecurity and lacking access to nutritious meals await the distribution of the remaining 37,180 bags. They, too, want to be assured of sustenance during times of hardship. A matter of concern, however, is the possibility that unscrupulous government officials may repurpose confiscated smuggled rice for their personal gain, instead of utilizing it for the intended public welfare. Over the weeks since August, a total of P940 million worth of smuggled rice was seized by authorities. In three warehouses in Bulacan, P500 million worth of smuggled rice was found. This was not confiscated though. The warehouses were just padlocked, and we are in the dark if charges were filed against the owners. An estimated P40 million worth of smuggled rice from Vietnam, Thailand, and China was seized in Bacoor, Cavite, and Pulang Lupa, Las Piñas, on 14 September. On 18 September, government agents raided warehouses in Tondo, Manila, where P400 million worth of suspected smuggled rice and other imported products were found. Confiscating smuggled goods, such as rice, should allow the government to tackle the illicit trade while ensuring fairness in the distribution of the seized items. We ought to exempt our country from the roster of developing nations because it is where the poor bear a disproportionate burden due to smuggling activities, making it imperative to prioritize their welfare over the interests of greedy traders in cahoots with corrupt officials. By ensuring a fair distribution of nearly a billion pesos worth of confiscated smuggled rice, the national government reduces the demand for illegal markets, discourages ongoing smuggling activities, and encourages legal channels for food distribution. Rather than going uneaten inside sealed warehouses or having them destroyed, distributing them prevents waste and maximizes their value for the benefit of those in need. While distributing them can address immediate food needs, it should only be part of a broader strategy to address poverty, promote sustainable livelihoods, and improve access to education, healthcare, and economic opportunities for disadvantaged populations. In bridging the gap between the haves and have-nots, ensuring that even the most vulnerable members of society have access to basic necessities has taken off in Zamboanga. We keep our right fingers crossed that the distribution of hundreds of thousands of 25-kilo bags of smuggled rice reaches the tables of underprivileged Filipinos to signal genuine public goodwill and trust in authorities. On the left hand, we do the same thing that the government prioritizes efforts to identify and hold corrupt officials involved in smuggling accountable, ensuring that they do not benefit from the distribution of seized rice. The post More rice, please appeared first on Daily Tribune......»»
Nina Lim-Yuson — A lifetime of girl scouting
The president of the Girl Scouts of the Philippines, Nina Lim-Yuson, grew up in a family and home of Girl Scouts. Her grandmother, Pilar Hidalgo-Lim, was one of the co-founders of the GSP. “It was actually my Lola Pilar who suggested to Josefa Llanes Escoda, the GSP founder, to go to America to learn about girl scouting.” This tidbit of history, Nina shared in an online interview with the DAILY TRIBUNE. Pilar Hidalgo-Lim became GSP president, and so did Nina’s mother, Estefania Aldaba-Lim, who served as secretary of the Department of Social Welfare and Development. Nina’s sister too, the eminent broadcast journalist, Cheche Lazaro, was a Girl Scout. Coming from a lineage of women achievers, Nina could not have chosen a different path. It was scouting that formally introduced the family to social responsibility, skills development and citizenship. Her brothers were also Boy Scouts. “I started when I was six years old and it was my Lola Pilar who inducted me as a Brownie. It used to be called Brownie because we were still using the American pattern,” she related. She belonged to Troop Number One, the first to be organized by the GSP national headquarters. In high school at the Jose Abad Santos Memorial School of the Philippine Women’s University, she became a junior and later a senior Girl Scout. College would briefly end her Girl Scouting as she focused on her studies. Along the way, she also danced with the Bayanihan Folk Dance Company. It was not unexpected that she would return to scouting, her first love, and her first extra-curricular activity. For the last 36 years, she has been active in various organizations and volunteer work. She founded the Museong Pambata. She is a recipient of The Outstanding Women in the Nation’s Service and is active in its various social development efforts. What Nina brings to her post is the legacy of leadership that had been passed on to her through generations of women leaders in the family. “My Lola Pilar was my idol. She was such a nice person and I never knew her totally as a president. I knew her more as a loving lola from all the stories she related when we rode up to Baguio. “My mother, on the other hand, was the opposite. She was very career-minded. I learned naman from her a lot of things, like being thrifty and having a list of things to do. In terms of organization, she was like that. Because she was in government. And, you know, when we started Museo, while it was actually my concept, I learned a lot from her. She would call me up at 5 o’clock in the morning and she would rattle off what needed to be done, like ‘number one, number two and so on.’ That was her. And I’m glad that I worked with her for six years in Museo. She was the president and I was the executive director for six years. I took over in 2000 as president and chief executive officer. And then, I stepped down in 2017.” Girl Scouts who read and tell stories Nina was elected president of the Girl Scouts of the Philippines for the term 2021-2024 during its 2021 national convention. From day one, she shared, “My purpose was to reach out to the community-based troops because we have always been school-based. Many young women now have social problems so we need to reach out to the communities through our community-based troops.” Also on top of her priorities is literacy development, a cause that she addressed even in the Museo Pambata. She explained, “My advocacy has always been education. So, I was very concerned because the Asian Development Bank reported in 2022 that the World Bank found out that our Filipino children at ages 9 and 10 cannot read. So, I felt that because girl scouting is all over the country, with 96 local councils, the organization could serve as a vehicle for improving literacy in our country. “We started the Girl Scout Storyteller project because storytelling affects the heart first before the mind. When young people start with storytelling, they will love the stories and then the written word. They would then want to read. “We now have storytelling in economically challenged communities and we have partners. We sent out 2,500 books throughout the country with the help of our partner couriers.” Initially, she sought the help of her family foundation “to give a donation. I also sought the help of Ging Montinola, who is into literacy development. Together, we founded the literacy program. We are building this fund to cover the cost of buying children’s books. We will have a storytelling contest next year.” Raising funds for Camp Escoda Nina then shifted the conversation to another major endeavor that she is spearheading as GSP president — fundraising for the 27-hectare Camp Josefa Llanes Escoda in Palayan City, Nueva Ecija, which was donated by the provincial government during the term of Governor Amado Aleta, the father of consul and civic leader Fortune Ledesma. “Palayan is beautiful because it has rolling hills, but it doesn’t have electrical and water facilities and roadworks. It doesn’t have a swimming pool, and it’s so hot in Nueva Ecija. It also does not have a conference hall. This is a big one-time fundraising project because it’s for the future of the girls who are going to the camp. Because as of now, if you go camping there, you have to walk up the hills to get your drinking water. You have to make buhos to take a bath.” She recalled, “In my time as a young Girl Scout, which was of another era, we had to walk in the dark to fetch water to fill up two drums. I was so scared because there were tuko in Los Baños. That taught me to be courageous. Camps really build up your lifetime skills and attitude. Camping is very integral in girl scouting and boy scouting. So, this camp will serve a purpose. It just needs various basic facilities to make it world-class and convenient with the proper amenities, but the girls will continue to learn all those survival techniques and appreciate nature right on the camp.” She praised architect Pippo Carunungan, “who is an environmental planner. He surveyed the site and drew up everything. It will be a beautiful camp, he said, because it’s a gift of nature.” First Lady as Chief Girl Scout Nina recently led the Girl Scouts in a fundraising ball attended by the “First Lady, Liza Araneta-Marcos, who is our Chief Girl Scout. It’s mandated in the GSP constitution that whoever is the female president of the country or the First Lady is the Chief Girl Scout. In the past, we had Imelda Marcos, Gloria Macapagal Arroyo. All the first ladies were all Chief Girl Scouts. “Mrs. Liza Marcos spoke before us and she promised to help. She said, ‘We will make it the best campsite.’ Everyone was excited to see her and she obliged everyone who asked to have selfie with her. She is very friendly. She is really a Girl Scout.” Nina shared, “A generous couple is sponsoring the swimming pool at P6 million, while a gentleman entrepreneur is sponsoring the perimeter fence at P1.5 million. Many other businessmen and leaders have pledged to help build this dream GSP project. “We really need to raise about 50 million to have a very good camp. But when the First Lady heard about it, she said, ‘It has to be P250 million.’ But, really, when we have the funds, we can have deep toilets that have running water instead of tabo-tabo. Since we have a little Pampanga river that runs across the camp, we can build a bridge that crosses it and then the girls can have white-water rafting there in the Pampanga river. “Camp Escoda will be a very important and significant venue for our Girl Scouts to gather, bond, learn new skills and develop as morally upright citizens of the country and the world. It is especially so because camping is integral in any Girl Scout’s life. If you don’t have camping, it’s like half of your scouting life is missing. Every Girl Scout remembers that time of her youth. And being the national camp, it will welcome Girl Scouts representing the 96 councils from Luzon, Visayas and Mindanao who will participate in various events and trainings.” Girl Scouts of all ages As GSP president, Nina travels to various parts of the country. “We have regional conferences aside from the meeting of the Central Board when regional heads and executives come to Manila. “I had just come from Baguio where I stayed for two-and-a-half days. I met our young Girl Scout representatives from ages 14 to 18. I enjoyed listening to them and exchanging ideas with them. I am so happy that we have a wealth of intelligent girls who want to serve the country. They are the ones who are going to take over. “It’s amazing that GSP is no longer limited to old people on the board. We finally have young ones on the board. Our Escoda committee is headed by Jade Delgado from Iloilo. Then we have Justine Bautista. She’s a psychometrician. She heads the Program Committee, which is a big committee because when we were in Baguio, we had 86 girls from all the councils throughout the country. Many of them are running for SK. “So, in my 70s now, which I don’t feel at all, I don’t take any medicines or something like that. Being with young people is what inspires me. Because at 15, 16 or 17, they already know that they have some kind of a mission.” Nina proudly shared that the venue of the Baguio conference, 'Ating Tahanan' on the South Drive was bought during the tenure of my Lola Pilar. We have four buildings there, including the houses of Senator and actor Rogelio de la Rosa and Carlos Valdes, the accountant. Lola Pilar, according to Carlos Valdes, twisted his arm to get a low price. I’m so thankful for all those who preceded me because they bought these places. It’s on South Drive which is so valuable. We even have a reserved forest behind us.” As she looks forward to the next camping and gets even busier raising funds for Camp Escoda, Nina feels elated that “every one of us in the Girl Scouts has been together in our various undertakings. The nice thing is we are now intergenerational because we try to bring in the old with experience, institutional memory and their wisdom born of their long life, and the young who are full of enthusiasm, energy and new ideas.” A star scout for a granddaughter While Nina does her part for the bright future of girl scouting in the country, her personal family too has not stopped contributing to the roster of members to this worldwide organization. Today, a granddaughter of hers, seven-year-old Rocio Yuson de Guzman, is a Star Scout. She is the daughter of Nina’s daughter, Nicky. No grandmother could have been prouder. Nina said, “Rufio loves being a star scout. When I arrived from the recent world conference in Cyprus, I came back with some badges and I gave some to Rufio who is very proud of the little badges that I got for her.” For sure, Nina will pass on not just the badges to Rufio. More importantly, she will give her granddaughter the once-in-one’s-childhood experience of being a Girl Scout and learning “the values that are identified in the Girl Scout Promise and Laws. I think that while there is so much to enjoy and learn, it is the inculcation of these values that would mold her into a well-rounded human being. As we all know, a Girl Scout’s honor is to be trusted. A Girl Scout is loyal, thrifty, courteous… and so on. It’s like a mantra -- the values that one lives by. “I have reached that point when it is not about success or what one accumulates in life, whether awards or accomplishments or material things. It is more about what I can share and scouting gives me that honor and privilege — to do my part in helping mold our young girls and making them aware even at an early age that they have a mission and worthy purpose in life. It is not just about being good and outstanding on your own but it is also about helping others to become better in what they’re doing and live better lives. “And I need not look far. As a grandmother, I dote on my Star Scout granddaughter, Rufio. There’s a world out there for her to discover and in which she has a role to play and use the skills and values she will learn from scouting.” The post Nina Lim-Yuson — A lifetime of girl scouting appeared first on Daily Tribune......»»
The Advantage of Adopting the Right Digital Tools for your Business
Amid the uncertainty in customer behaviors and trends from the crisis, this much is clear: updating the business for a digital-first world, led by purpose, is now a must for almost every company. To do so, they must determine where new business value exists in the new normal, what digital business models will capture it, and which tools and behaviors will support the adaptability and resilience that these models require. On this section, we talked to the creators behind the award-winning platform made for businesses like yours. The Digital Advantage Companies need an understanding of 3rd Platform technologies to capitalize on improved decision-making and to deliver enhanced, customized experiences to stakeholders. The rapid acceleration of 3rd Platform technology adoption means that corporates need to actively be looking for ways to improve their operational efficiency and customer service, otherwise, they will be in danger of falling too far behind digitally-native competitors to ever catch up. Efficiency Past recessions show that controlling costs by improving operational efficiency—a task for which digital solutions are perfectly suited for—is more effective in sustaining businesses through financial turbulence than traditional cost-cutting measures alone. The biggest efficiency play is automation. Streamlining operations and automating manual processes result in greater speed, less waste and more focus on revenue-generating activities. The economics of automation is simple: the same work is performed faster and with fewer mistakes, while human capital resources can be redeployed to higher-value tasks or to fill critical gaps. Convenience Company bank accounts are available in any device, the only things you need are internet connection and a few taps on the screen. This brings about an increase in customer satisfaction as they are able to constantly keep track of their account balances and manage the information on their personal profile (i.e. add new mailing address, e-mails, telephone numbers, etc.). In addition to this, there is no need to go to the bank to get checks as they can be instantly sent via email. 24/7 Reliability Online banking services are available 24/7 all year round, even on weekends. There is no need to line up and wait for the bank to open in order to conduct certain operations. This is a huge advantage that comes with digital solutions Security With all the recent news about data breaches, you might be wondering about the security of mobile and online banking. Security is top priority for banks when choosing whether or not to offer online banking. All banks use “Pentagon-grade” encryption technology and sophisticated firewalls. Mandatory security upgrades are required by bank regulators, so you can be confident that keeping your information secure is one of your bank’s utmost priorities. As digital transactions increase and productivity grow, companies must take proactive steps to protect their data privacy and security and adopt models that give them governance over their data. Today’s Platform Driven Solutions Self-service account management, bills payment and electronic fund transfers are considered the basic banking functions that each business should have. Account management allows viewing of account balances and transaction history without going to the bank. All these were made easy and accessible, by just logging into UnionBank’s The Portal app. Bills Payment, on the other hand, gives businesses access to a large list of billers. They can pay their water, electricity, telco, and other utilities online. BIR ePayment is also available, allowing users to pay taxes online. If the company is an accounting firm, they can also pay for their client’s taxes on The Portal app. Electronic fund transfers save companies time and reduce their risk exposure. Just upload the batch crediting file on the platform and it automatically disburses it to their recipients. Clients can also set up their recipients in UnionBank Business Banking so they receive email and SMS notifications every time they are credited. All these are made possible without stepping inside a branch. Batch Electronic Funds Transfer is also now made available for UnionBank Transfers and PESONet. This enables the streamlining of bulk account to account transfers to another UnionBank account or to other bank accounts. This has highlighted the ease and convenience of going digital to corporate clients versus processing transactions through the traditional way of banking over-the-counter or paying via cheques. Going beyond the basic functions of a normal digital banking tool, The Portal’s self-enrollment feature allows businesses to conveniently self-enroll their nominated accounts and users through the simple enrollment steps. Once completed, access to The Portal is granted and clients may enjoy the convenience of processing their funds transfer instructions online. In addition, there is an option to initiate the enrollment of the beneficiary accounts individually or in bulk. This can be essential for clients that need a payee maintenance feature to ensure that the initiated transactions are only credited to enrolled account. With the convenient, hassle-free and straight-through processing in The Portal, businesses can easily push fund transfers in the comfort of their own homes or offices. This pandemic serves as a widespread test case for the effectiveness of these digital solutions, many of which will be permanent fixtures and lead to long-term changes for many businesses. Organizations that embrace digital solutions have greater resiliency in the face of adversity and are way ahead of the competition, which will enable them to recover faster and pivot from playing defense to chasing growth. While many believe it is too idealistic to have a good workplace culture and excellent compensation, many jobseekers significantly consider these two factors when applying for a job, according to two studies. The 2021 Employee Experience Survey by Willis Towers Watson reported that 89 percent of respondents believe a positive employee experience is a crucial driver of engagement, while a 2023 survey from the online recruitment platform JobStreet found that 53 percent of Filipino job seekers would like to know the salary range offered while still in the recruitment process. Aside from great benefits and compensation, employees in the IT industry pointed out that a good work culture and environment, as well as training programs, are the top priorities of job seekers. Vanessa Liwanag, business development director at Yondu, acknowledged the company’s role in her growth, “Yondu has helped me develop my leadership, decision-making, and communication skills through its effective leadership training programs. The company also helped me grow personally because of its hybrid setup. This allows me to have a work-life balance. I can still care for my family and health while contributing to the organization.” Leather, who specializes in securing networks from vulnerabilities, noted that training programs are essential as trends continuously evolve. IT professionals need to keep up in order to be efficient. Steph, a software solutions engineer, echoed this, adding that since the industry is highly competitive and fast-paced, getting equipped with the right skills and knowledge is essential. Grace, a malware researcher, said that one advantage in the IT field is that since it’s a broad industry, there is always much to learn and room for improvement. Yondu, an IT solutions company wholly owned by Globe, offers all these benefits and compensation, a good working environment, and training programs to Yondudes, a nickname for its employees. Competitive pay and benefits are OK for Yondu as the company ensures this through regularly benchmarking market data and best practices. There are also tailor-fitted rewards programs according to talent segments. Yondu also ensures its employees remain competitive and well-equipped by industry standards through various training, reskilling, and upskilling programs to hone their skills in the constantly changing tech industry. Despite the fast-paced sector continuously evolving, Yondu still values work-life balance and provides programs to support Yondudes’ well-being further. “What sets Yondu apart from other organizations is its genuine focus on understanding and supporting its employees,” said Javen Babac, lead application support specialist at Yondu. “The company recognizes that employees perform their best when they feel valued and supported, and this philosophy sets Yondu apart by fostering a positive and inclusive work environment. The organization’s commitment to understanding its employees and providing the necessary resources demonstrates its dedication to employee well-being and sets a strong foundation for professional growth and job satisfaction.” The post The Advantage of Adopting the Right Digital Tools for your Business appeared first on Daily Tribune......»»
AI takes backseat to good cop work
SULHAMSTEAD, UK (AFP) — Artificial intelligence and facial recognition software are seen by some as the future of crime-fighting around the world. But British police say it has to go hand in hand with more traditional methods of detection, including the use of so-called “super-recognizers.” Forces across the country have been using officers who have an exceptional memory for faces and an above-average ability to identify people. Only one percent of the population has the “super-power,” said Tina Wallace, a surveillance expert with Thames Valley Police. Her team began recruiting the specialist officers in 2017 and now have about 20 on their books, including Alex Thorburn, an officer for 17 years. “I’ve always been good with faces. So when they put a notice out about the tests, I did it!” Thorburn told AFP. “I was shown pictures, dated between 10 and 30 years old, of 10 people. I had to find them in the crowd in the shopping center.” “I found them all, but they looked a lot different from how they did in the photos. That was really interesting.” As AI and facial recognition technology develop at a rapid pace, human skills should not be discounted, insisted Neville. “It isn’t really a competition with facial recognition,” he said. “They can be used together. AI is good with high-quality, front-on images (as with passports at airport e-gates).” According to Neville, demand for super-recognizers is growing, particularly from police forces in Germany and Australia. Professor Davis has posted a basic 14-point test online for anyone curious to check if they have the powers of recall that make them a super-recognizer. “If you get less than 10 or 12, you are not going to be a super-recognizer,” he said. “But if you reach 14, contact me please!” The post AI takes backseat to good cop work appeared first on Daily Tribune......»»
BSP: More Filipinos now with basic deposit accounts
The Bangko Sentral ng Pilipinas on Friday said more Filipinos now have bank accounts as the country’s number of basic deposit accounts or BDAs surged by 170 percent to 21.9 million in the first quarter of this year, higher than the 8.1 million in the same period last year. Deposits under BDAs climbed to P27 billion in the first quarter, or 432 percent higher than the P5.1 billion in the same period a year ago. BDAs allow clients to open interest-earning savings accounts with required initial deposit of just P100 or less and have no minimum maintaining balance and dormancy fees. Opening these accounts also only requires basic identification documents. “Introduced by the BSP in 2018, the BDA aims to meet the needs of the unbanked and low-income sector for affordable and easy-to-open bank accounts,” a statement from the BSP said. Conversion of registered accounts The Bank said BDA growth was partly a result of the conversion of registered accounts under the Philippine Identification System or PhilSys into BDAs. This process created 7.5 million BDAs. “An initiative of the Philippine Statistics Authority and the Land Bank of the Philippines, the co-location strategy aims to onboard unbanked PhilSys registrants into the formal financial system after their biometrics capture at registration centers,” BSP explained. Another 4.3 million accounts from five banks that also started offering BDAs were added from January to March this year. Based on the first-quarter data by the BSP, there are already 158 traditional and digital banks offering BDAs. The BSP aims to expand the population of adult Filipinos with bank accounts from 51 percent last year to 70 percent this year. The post BSP: More Filipinos now with basic deposit accounts appeared first on Daily Tribune......»»
Tale of two cities (2)
Mayor Eric Olivarez of Parañaque City wants his city to be the first to have an eGovSuper App that would expedite and facilitate the registration of business establishments, enhance transparency, and prevent corruption. The young local chief executive, a doctor of education and registered nurse, is blazing the trail in local fiscal administration by making moves preparatory to the adoption of Commission on Audit’s digital transformation in the review of government financial transactions, being introduced by its Chairman Gamaliel Cordoba. Parañaque City is just settling down from its mood of celebration for many good reasons, after being accorded by the Commission on Audit the unqualified opinion (indicative of the absence of any material misstatements), on the fairness of presentation of its financial statements for the calendar year ending 31 December 2022; after obtaining the unprecedented increase of P10 billion in its asset and equity after 12 months of Dr. Eric’s administration, with the overwhelming optimism of another P10 bIllion increase expected by 31 December 2023. The city is deserving of three awards of recognition: (1) Most Ready to Adopt CoA’s digital accounting and auditing; (2) Best City Accountant, Ms. Marilou Tanael, for her dedication and hard work in cleansing the accounts, eliminating and reconciling discrepancies, thereby clinching the P10-billion increase in asset and equity; and for enabling all the Punong Barangays of the City to prepare and submit promptly their annual audit reports; (3) Best City Auditor, State Auditor V. Robert Limcolioc, for helping the city recover from utter bankruptcy to its present financial resurgence. Auditor Limcolioc has been most outstanding as a representative of the Commission on Audit guiding the management of Parañaque City. The kind words heard from the department heads of the city about the resident auditor was: “He easily sees the problems and he shows us how to solve them.” The overall performance of the Olivarez leadership in managing the accounts and financial operation of the City of Parañaque is in totality a gift to behold, an accomplishment to marvel at, and one marked by humility worthy of emulation. It took 10 years for the Olivarez leadership — from Edwin to the incumbent Eric — to normalize the finances of the city from the agony of paying the huge bank loan, a burden shouldered by the people of Parañaque for many years, the negative entries involving assets and liabilities were daily ugly sights in the books of accounts until cleared with the help of CoA. The activities initiated by Dr. Eric in Parañaque City relating to digitalization are forerunners of digital accounting and auditing approaches that will be forthcoming in the Philippine financial system, pursuant to the recent advocacy of CoA Chief Cordoba. With his experience and expertise in digital technology and communication, Cordoba hopes to usher the Commission on Audit to new heights through the digital transformation of accounting and auditing. The online/no-contact transaction in granting business permits is an activity typical of the eGovSuper App, a mobile application that can provide multiple services, including payment and financial processing, effectively becoming an all-accomplishing self-contained commerce and communication online platform that embraces many aspects of personal and commercial life. In his eagerness to enhance transparency and prevent corruption, Mayor Olivarez coordinated with Undersecretary for e-Government David Almirol of the Department of Information and Communications Technology. The mayor informed the undersecretary of his full support in adopting the e-GovSuper App one-stop platform that will expedite the processing of local government transactions. Meanwhile, it would be wise to keep on repeating, without becoming redundant, especially on a matter that is alien to many Filipino bureaucrats, that the major thrust of CoA Chair Cordoba includes the development of an easy-to-implement and technologically driven government accounting system compliant with international standards to ensure that all revenues and expenditures are recorded accurately and in real-time and enhancing audit guidelines for e-reports to cover contracts entered into via social media platforms. The post Tale of two cities (2) appeared first on Daily Tribune......»»
Sara lauds NBDB for unwavering dedication
Vice President Sara Duterte lauded the National Book Development Board for its unwavering dedication to Filipino students as she highlighted the dedication and achievements of everyone in the Philippine publishing industry. “The importance of your work is something that we cannot overemphasize — and the same can also be said about the significance of the books authored by people who have dedicated their lives to the profession and advocacy of sharing their expert or academic knowledge with others, giving inspiration to others, or entertaining others through their stories — fiction or non-fiction,” said Duterte who served as keynote speaker of the Philippine Book Festival. Over 2,000 authors, publishers, readers and guests from all over the country attended the event at the SMX Convention Center to celebrate Filipino books and Philippine literature, culture and other contents. Duterte, who is also secretary of Education, said the Philippine Book Festival is important to DepEd with the recent launching of the MATATAG Curriculum that gives emphasis on basic competencies — which include writing, reading and comprehension. “Our direction is not only for our learners to possess the power of writing and reading, but, most importantly, for them to value this power as it could help them navigate life successfully,” Duterte said. The post Sara lauds NBDB for unwavering dedication appeared first on Daily Tribune......»»
Respect for all individuals
In a Per Curiam decision (a decision unanimously and easily reached) that was dated 11 April 2023 but was made available to the public on 17 August 2023, the Supreme Court penalized five lawyers for posting what it found to be inappropriate and disrespectful comments on their Facebook accounts. Four of the lawyers, whose names we will not mention so as not to add to their public humiliation, were reprimanded with stern warnings, but their fifth colleague was dealt the heavier punishment of a P25,000 fine and a stern warning. The Supreme Court found all of them in violation of Rule 7.03 of the Code of Professional Responsibility. What is Rule 7.03 of the Code of Professional Responsibility? It states: Rule 7.03 — A lawyer shall not engage in conduct that adversely reflects on his fitness to practice law, nor shall he, whether in public or private life, behave in a scandalous manner to the discredit of the legal profession. The Supreme Court cited a case where it stated: “Lawyers, as keepers of the public faith, are burdened with a high degree of social responsibility and, hence, must handle their personal affairs with great caution.” In this instance, the Supreme Court found that insulting and degrading comments were posted against a member of the Judiciary with undertones aimed at members of the LGBTQIA+ community. It is worth noting that this cast a bad light on all lawyers, regardless of their field of practice. The posted comments appearing on the thread where the five conversed included: “The joke among lawyers is that sa Taguig sa 2nd floor puro may sira ulo mga judge, sa baba bakla at mga corrupt.” In English, this translates to: “In Taguig, on the 2nd floor, the judges are all insane, and down below they are gay and corrupt.” I wish to emphasize that neither I personally, nor my family, friends, and schoolmates who practice law, make jokes about judges in Taguig or any member of the Judiciary for that matter. Nor will I call them insane and corrupt without proof, even if their views are very different from mine. More importantly, I do not think I will ever make any derogatory statements toward any member of the LGBTQIA+ community. Those who are in this group have the right to express themselves under their constitutionally protected freedom of expression. The Supreme Court cited several other jurisdictions in proving the point of respecting all individuals regardless of belief or sexual orientation. It also reiterated the principle of non-discrimination and equality. I wholeheartedly agree with all the sources and legal provisions cited by the Supreme Court. But I do wish to stress that, while these pieces of information are all great materials and are worth reading, respect in our everyday life does not have to be based on any opinion, writing, or legal provision. It is just the most basic building block of any relationship regardless of who is involved. Whether you are dealing with a superior at work or simply showing appreciation for a waitress at your favorite restaurant, respect is fundamental and an absolute must. In today’s jargon among teenagers, “Matic yan!” (that is, it is automatic and needs no explanation). While I also strongly believe in the freedom to criticize others when appropriate, such expression must always be based on proven circumstances, ventilated in the proper forum, and accomplished with respectful language. Making statements that are unfounded, unsubstantiated, or unfair, more so those which tend to demean through innuendo a whole group of individuals or typecast them as evil just because they are different, should be strictly avoided. Specifically regarding the LGBTQIA+ community, we’ve come a long way from the time when they were not accepted or treated properly by society and I am happy for this progress. There is still much work to be done but I am thankful for the continued improvements in society towards understanding the differences between heterosexuals and members of the LGBTQIA+ community. We are certain that there will still be areas where many of us will find ourselves in a discussion or debate involving matters which we do not fully understand. When that happens — and it will happen — the proper thing to do is always to go back to the basics or fundamentals — RESPECT not just for others, but for all! The post Respect for all individuals appeared first on Daily Tribune......»»
Sharon, Gabby to reunite in concert
Sharon Cuneta and Gabby Concepcion, one of the all-time top love teams of Philippine movies, announced that they are reuniting not onscreen, where they first became a reel and real-life pair in the 1981 romantic flick "Dear Heart", but onstage. They will headline "Dear Heart, the Concert" on 27 October 2023 at the Mall of Asia Arena. Both Sharon and Gabby made the announcement by posting on 10 August the poster of their concert on their respective Instagram accounts and tagging of each other. They only gave the basic info, plus when the tickets would be available for purchase. That would be on 15 August, starting at 12 noon, via SM Ticket onsite outlets nationwide and website, www.smtickets.com. Beyond the legendary Sharon-Gabby love team that spawned a string of hit movies (their last was "Tayong Dalawa" in 1992), the couple are also former spouses. They had a fairy-tale wedding on 23 September 1984 at the Manila Cathedral. Their marriage, which was annulled in 1993, produced an only child, Kristina Cassandra, who followed in their showbiz footsteps as KC Concepcion. The post Sharon, Gabby to reunite in concert appeared first on Daily Tribune......»»
RCBC’s card use drives P6-B H1 profit
Universal lender Rizal Commercial Banking Corp., or RCBC, recorded a net income of P6.2 billion in the first half, mostly due to increased credit card transactions. Gross income jumped by 10 percent to P23.5 billion in the first half from the same period last year, with income from credit card transactions surging by 48 percent, the bank reported to the Philippine Stock Exchange said. Bill collections grew 54 percent which RCBC attributed to “personalized and data-driven campaigns.” Loans increased by 14 percent as the bank said consumer and corporate lending “sustained their momentum toward an 18 percent growth.” Meanwhile, total deposits increased by 22 percent, reflecting the 17 percent growth in low-cost current and savings accounts. RCBC attributed the higher savings to its growing number of depositors in “retail and small and medium enterprises outside Metro Manila.” Basic banking via app Through its improved mobile app RCBC Pulz, the bank said clients can avail of its basic banking services and investing products in a more convenient process. “RCBC continues to perform better than the industry as we focus on high-growth segments and equip our people with digital and data science tools,” RCBC president Eugene Acevedo said. Total assets expanded by 17 percent to P1.2 trillion, resulting in a better-annualized return on assets ratio of 1.11 percent. Meanwhile, annualized return on equity improved to 11.1 percent. RCBC said it expects capital ratios to improve by over 300 basis points through the completion of the P27-billion capital infusion from Japan’s Sumitomo Mitsui Banking Corp. The post RCBC’s card use drives P6-B H1 profit appeared first on Daily Tribune......»»
Myrna Segismundo: Chef to ABS-CBN stars, bigwigs
All showbiz stars and talents, as well as journos and v/bloggers, who have attended a media conference at the ABS-CBS compound in South Triangle, QC, most likely may have done so at the cozy and classy restaurant on the 14th floor of the building there. But were they ever aware that the building is called the Eugenio Lopez Jr. Communication Center and the restaurant goes by the mysterious name 9501? If they knew those two names, would they also know the name Myrna Segismundo? Most likely, no unless the journos and v/bloggers who cover showbiz also go to lifestyle media events. Segismundo is one of the country’s foremost chefs of international renown. She was managing director of 9501 for almost 20 years,with the rank of vice president. Security Bank, the Zonta Club of Makati and a group known as Environs recently cited her among their Bravo Empowered Women Awards recipients. [caption id="attachment_166629" align="aligncenter" width="666"] CHEF Myrna Segismundo | Photograph Courtesy Of Relaxlangmom.com[/caption] First project The private 9501 restaurant was conceived in 1995 as the first project of the year, which is why it was given that name by then ABS-CBN head Gabby Lopez, a son of “Kapitan Geny,” who sat on top of the broadcast empire almost up to the time it lost its franchise (Gabby is legally Eugenio Lopez III and is now the chairman emeritus of ABS CBN). The 9501 corporate dining facility produced everything from weekday lunch buffets, formal haute cuisine dinners and board meeting meals to celebrity-studded press conferences. It was never opened to the public, only to ABS-CBN employees and their guests. In August this year, the restaurant ceased operations but went on to be a venue for media conferences with goods catered by other suppliers. That was where Hori7ons (the number stands for “s”) was launched as a K-pop-inspired boy group managed by ABS-CBN with a Korean company. The contract signing of transwoman talent KaladKaren was also held at 9501 weeks ago. Frequent diner Monchet Olives, Gabby Lopez’ s former chief executive, said in an interview that he has never forgotten the very first meal served at 9501 in 2001, with just Gabby Lopez and himself seated at table 001 in the corner: rack of lamb, potato purée reminiscent of Alain Ducasse, gazpacho and the famous quezo de bola cheesecake — prepared by Chef Miguel Yadao who was one of the chefs Segismundo took along with her to 9501 from another private restaurant, PCI Bank’s the Sign of the Anvil. “Sitting there in the corner, window glass on both sides, overlooking Quezon City… It was a sunny day, you could see Manila Bay. I said, wow, this is ABS-CBN,” Olives said. Gabby Lopez was a frequent diner at 9501, usually entertaining guests or meeting with company executives in the wine room. Segismundo, in another interview, remembered Lopez as a “flexible” diner who loved good wine and enjoyed Japanese, Italian, French and especially Mediterranean fare, and occasionally Filipino. The 9501 chefs could prepare any kind of cuisine, but Segismundo was most proud of the prominence of Filipino food there. Many of its most famous dishes came from the Sign of the Anvil, including the bestselling Turon, Quezo de Bola Cheesecake, Potato Bread and Adobo Paté. In fact, 9501’s bestsellers were almost all Filipino, including its Chicken and Pork adobo and Beef Tapa — “in the service of Filipino food,” she recalled in one interview. Segismundo started “dissecting and deconstructing” traditional Filipino dishes with her chefs during her Anvil days, creating her iconic Lechon Roulade (using suckling pig, not liempo) in 1995, years before the lechon roll trend came about. Lecturer on Filipino cuisine The Christmas parties of ABS-CBN executives and employees were held at the restaurant, all the parties of the bigwigs like the birthdays of Gabby Lopez and ABS-CBN top executive Freddie Garcia, and “birthdays ng lahat ng mga sikat,” as Olives once put it. A graduate of Hotel and Restaurant Management of the University of the Philippines, Segismundo began her professional career at the Waldorf Astoria Hotel in New York City, USA. After several years, she went back to Manila and headed Sign of the Anvil. Under the sponsorship of the Department of Foreign Affairs, she has held demonstrations and lectures abroad to promote Filipino cuisine in countries like Spain, Portugal, France, Netherlands, Japan and more. She became the first ever Filipino lecturer on Filipino cuisine at the Cordon Bleu in Paris and Filipino presenter in the prestigious Madrid Fusion in Spain. She has written several books such as the The Party Cookbook and Philippine Cuisine – Home-cooked Recipes Wherever You May Be and co-authored Kulinarya (A Guidebook to Philippine Cuisine). She is known for promoting heritage recipes while also transforming them into contemporary interpretations without losing their authentic taste. She was editor of Food Magazine of ABS-CBN and the founder of the Doreen Fernandez Food Writing Awards, an annual food writing competition which aims to encourage food writing and research in the country. Most importantly, she developed the Kulinarya Program of the Department of Tourism to teach the rural folk basic cooking, service and accounting concepts to help uplift their lives and their families. Tastes and flavors Instead of saying certain Filipino dishes are “like” a particular dish from a different country, Segismundo encourages Filipinos to describe them through tastes and flavors. “Talk about our vinegars, our citruses — ingredients that are indigenous to us. Dishes that are truly Filipino that will have a universal appeal.” Meanwhile, the other awardees of Security Bank and Zonta are Celia Baltazar-Elumba for Arts, Culture and Heritage; Lourdes Delos Reyes for Business and Entrepreneurship; Jennie Jocson for Education; Cheryll Ruth Soriano for Media and Public Affairs; Rebecca Angeles for Social Services; Maria Caterina Cristina Lopa for Sports; and Rose Maria Mendoza for STEM. Segismundo received her award for Tourism and Hospitality. A special recognition was also given to the Philippine women’s football team during the awards ceremonies held 27 July at the Security Bank Center in Ayala Avenue, Makati. The post Myrna Segismundo: Chef to ABS-CBN stars, bigwigs appeared first on Daily Tribune......»»
‘SoNA all’
Hello again my dear readers. Have you ever caught yourself staring at beautiful couples holding hands, happily enjoying their lives, worry-free, as if the world was spinning round and round just for them, and you simply said to yourself: “Sana all.” Or maybe you recently saw your old friend who lost so much weight after moving on and going through so much in life and you whispered to yourself: “Sana all.” Well, you’re not alone. Oftentimes we crave something we want but which we cannot have (yet), or maybe we’re just really optimistic that someday, somehow, we will also have our time to enjoy these things that we crave, because these are things that we cannot buy and have to work hard for to get. It will require time and patience and, most of all, hard work. Things worth having are really worth waiting for. Speaking of worth having, well, I’m pretty sure you will not be deprived of our topic for today because, hey, it is Thirstday again and that means we get to talk about the latest State of the Nation Address or SoNA of PBBM. With all the updates and exciting plans this administration has in store for our beloved country, I say with all high hopes: “SoNA all” Well, that is the beauty of democracy you can express your opinions freely. But before that, did you know that the longest SoNA was delivered by former President Rodrigo Duterte which clocked two hours and 45 minutes? The shortest SoNA was delivered by Gloria Macapagal-Arroyo, now the Pampanga 2nd District representative, which took only 25 minutes; while former President Noynoy Aquino delivered the first SoNA in Filipino, “Kayo ang Boss ko,” if you may recall. Going back to the SoNA of President BBM, comments abound in different news outlets and on social media. Well, that is the beauty of democracy — you can express your opinions freely. Foremost in the President’s SoNA was the food security program aimed at putting food on the table of every household. This is a much-needed program if we are to protect our young population from malnutrition, as hunger threatens not only our country but is currently a worldwide problem. With no less than the President at the helm of the Department of Agriculture or DA, the public expects DA officials to fully live up to the aims set by PBBM. Education as a long-term tool and solution for almost all of the challenges we face found its way into the SoNA and was much emphasized by PBBM. With VP Sara piloting the Department of Education, all DepEd officials as co-pilots must steer the department to achieve the progressive education we all aspire for our youth. Infrastructure development, particularly focusing on the transport system with emphasis on seaports, airports, and road networks, is on the priority list of the President. This will provide easy access for every Juan as they work and travel or for every Nena and Pilar as they buy their daily needs nearby or shop elsewhere. Tourism will also get a boost as many destinations open and become accessible to local and foreign travelers and, yes, such movement of people will spur economic activity that will spell renewed income for local folk and added revenue for the government. Disaster preparedness and resilience is the cornerstone of a sound program to mitigate the effects of disasters. The President outlined fully the desire to achieve resilience and be totally prepared against disasters, whether man-made or natural. An average of twenty typhoons a year visit our country, which is in the “ring of fire,” an imaginary global ring of islands and land masses where volcanoes abound and earthquakes frequently emanate. Well, better watch National Geographic or read books! Nose bleed. Well, it is not only typhoons and the “ring of fire” that we should worry about, hence, the President underlined the plan for a new amnesty program for former rebels who returned to the fold of the law and to encourage the remnants of the armed communist group to embrace peace and be productive citizens of mainstream society. The priority legislative agenda of the President was laid out precisely. Foremost are the essential tax measures under the Medium-Term Fiscal Framework, such as: An excise tax on single-use plastics; VAT on digital services; rationalization of mining fiscal regime; motor vehicle user’s charge/road user tax, and the Military and Uniformed Personnel pension. The President enjoined Congress to act on the following: Amendment of the Fisheries Code; amendment of the Anti-Agricultural Smuggling Act; Amendment of the Cooperative Code; New Government Procurement Law; New Government Auditing Code; Anti-financial accounts scamming; Tatak-Pinoy law; The Blue Economy law; Ease of paying taxes; LGU income classification; and the Philippine Immigration Act. Congress is expected to act on these and make them more responsive to the current fortunes of time, especially with the fast pace of technology. Looking back and then focusing our eyes on the immediate future, we should all be hopeful for the plans the President laid out, especially on food security, education, infrastructure development, disaster preparedness, and all others which directly affect our daily lives, and be part of it, not because we are red, green, blue, yellow or whatever color of the rainbow or even a Power Ranger. Just as Master Rapper Francis M. said in his famous song: “Every color, every hue is represented by me and you, take a slide on the slope, take a look at the kaleidoscope..,” but because the current skipper needs all hands on deck and most importantly... we are all in the same boat. The post ‘SoNA all’ appeared first on Daily Tribune......»»
BPI fair offers small firms money management tips
Bank of the Philippine Islands will conduct a financial wellness fair to share tips on building small businesses and money management. This event runs 20 to 23 July at Glorietta 2, Makati City and will include conversation sessions with owners of small enterprises who have benefited from BPI Foundation’s financial aid and business mentorship. Tips can be gotten from entrepreneurs manning the Sinag Sari-Sari booth where fair goers can purchase locally made food items, eco-friendly bags and home accessories. The public can also learn how to make gourmet tuyo and liquid soap in vocational skills sessions. Basic banking services BPI will also discuss basic banking services to help Filipinos without bank accounts. The majority, or some 53 percent of the population are without bank accounts, according to the Bangko Sentral ng Pilipinas. They include the less privileged residents of Makati and Pateros who are highly encouraged to participate in the fair. STARBOOKS To spark interest in entrepreneurship among Filipinos for wealth-building, the Department of Science and Technology will also set up a booth for STARBOOKS, an online library where the public can explore concepts in science, technology, engineering and math and use these to design their business ideas. The number of micro, small and medium enterprises or MSMEs has grown from 920,000 in 2017 to more than 996,000 in 2020, according to data from global researcher Statista. Post-pandemic, the government expects further growth in MSMEs as it aims to make the country a predominantly middle-income society by 2040, signaling higher consumption for goods and services among Filipinos. The post BPI fair offers small firms money management tips appeared first on Daily Tribune......»»
Twitter chaos leaves door open for Meta’s rival app
Elon Musk spent the weekend further alienating Twitter users with more drastic changes to the social media giant, and he is facing a new challenge as tech nemesis Mark Zuckerberg prepares to launch a rival app this week. Zuckerberg's Meta group, which owns Facebook, has listed a new app in stores as "Threads, an Instagram app", available for pre-order in the United States, with a message saying it is "expected" this Thursday. The two men have clashed for years but a recent comment by a Meta executive suggesting that Twitter was not run "sanely" irked Musk, eventually leading to the two men offering each other out for a cage fight. Since buying Twitter last year for $44 billion, Musk has fired thousands of employees and charged users $8 a month to have a blue checkmark and a "verified" account. On the weekend, he limited the posts readers could view and decreed that nobody could look at a tweet unless they were logged in, meaning external links no longer work for many. He said he needed to fire up extra servers just to cope with the demand as artificial intelligence (AI) companies scraped "extreme levels" of data to train their models. But commentators have poured scorn on that idea and marketing experts say he has massively alienated both his user base and the advertisers he needs to get profits rolling. In another move that shocked users, Twitter announced Monday that access to TweetDeck, an app that allows users to monitor several accounts at once, would be limited to verified accounts next month. John Wihbey, an associate professor of media innovation and technology at Northeastern University, told AFP that plenty of people wanted to quit Twitter for ethical reasons after Musk took over, but he had now given them a technical reason to leave too. And he added that Musk's decision to sack thousands of workers meant it had long been expected that the site would become "technically unusable". - 'Remarkably bad' - Musk has said he wants to make Twitter less reliant on advertising and boost income from subscriptions. Yet he chose advertising specialist Linda Yaccarino as his chief executive recently, and she has spoken of going into "hand-to-hand combat" to win back advertisers. "How do you tell Twitter advertisers that your most engaged free users potentially will never see their ads because of data caps on their usage," tweeted Justin Taylor, a former marketing executive at Twitter. Mike Proulx, vice president at market research firm Forrester, said the weekend's chaos had been "remarkably bad" for both users and advertisers. "Advertisers depend on reach and engagement yet Twitter is currently decimating both," he told AFP. He said Twitter had "moved from stable to startup" and Yaccarino, who remained silent over the weekend, would struggle to restore its credibility, leaving the door open to Twitter's rivals to suck up any cash from advertisers. - 'Open secret' - The technical reasons Musk gave for limiting the views of users immediately brought a backlash. Many social media users speculated that Musk had simply failed to pay the bill for his servers. French social data analyst Florent Lefebvre said AI firms were more likely to train their models on books and media articles than social network content, which "is of much poorer quality, full of mistakes and lacking in context". Yoel Roth, who stepped down as Twitter's head of security weeks after Musk took over, said the idea that data scraping had caused such performance problems that users needed to be forced to log in "doesn't pass the sniff test". "Scraping was the open secret of Twitter data access," he wrote on the Bluesky social network -- another Twitter rival. "We knew about it. It was fine." jxb/lth © Agence France-Presse The post Twitter chaos leaves door open for Meta’s rival app appeared first on Daily Tribune......»»
Robin’s dangerous liaisons
It turned out that Robin Padilla’s love affair with guns landed him in a bit of a pickle. You see, Padilla thought it would be a great idea to show off his gun collection on social media. Because nothing says “responsible legislator” like flaunting your weapons on the internet, right? Now, Robin will be Robin, even if he’s now a senator (or, more so, maybe, because he’s become a lawmaker). Still, when you refer to your guns as your “wife and girlfriends,” you’re asking for big trouble. Lo and behold, Padilla’s little show-and-tell ignited a fierce debate about the legality of his gun ownership. And why not? Back in 1994, Padilla ended up with a lovely prison sentence of 17 to 21 years for, you guessed it, illegal possession of firearms. Yikes! No worries, though. Like a poorly written movie script, the then powers that be decided to grant him a conditional and then a full pardon, giving him a chance for a happy ending to his reel-and-real life, allowing him to ride into the sunset with enough guns to arm a private army. Now, legal experts are scratching their heads, trying to figure out if those pardons magically restored Padilla’s right to own firearms. We invite them to furiously flip through law books and search for that hidden chapter titled “Celebrity Exceptions: How to Arm Yourself After a Conviction.” Only in the Philippines?! But let’s credit Padilla for his thoughtful act of surrendering four rifles to the Philippine National Police back in 2015. He handed over his “girlfriends” for “safekeeping” while he applied for a new license, an application we assumed was granted because Robin showed off, too, those licenses, registration, and permits to carry firearms outside of residence or PTCFOR cards. It should be obvious, however, that people who have served jail time of at least two years are ineligible to be licensed firearms holders under the Comprehensive Firearms and Ammunition Regulation Act, which Robin claimed in 2015 was being applied retroactively to his 1994 conviction. Who knows? I’m no lawyer, but I guess being a law-abiding citizen is a pesky little requirement for owning weapons. Darn it, we seem to always forget those minor details for which the entitled members of society cannot be inconvenienced or bothered with. Robin insists he’s a responsible gun owner, having undergone gun handling and basic combat training. Well, isn’t that comforting? Levity aside, we cannot just brush off this issue with a few chuckles. It’s essential to know whether Padilla had been given special treatment and if the gun law is being applied fairly. So, let the debate, that Robin himself invited, rage on. Will he be able to continue his love affair with his collection of “girlfriends?” Or will he settle for more socially acceptable hobbies like collecting cars? Only time will tell. In the meantime, let’s remember that responsible gun ownership is no laughing matter. It’s a serious responsibility that requires strict adherence to the law and a commitment to safety, thus the requirement that all licensed gun owners regularly pass drug and neuro-psychiatric tests. While entertaining, the brouhaha over Senator Padilla’s gun ownership highlights the need for effective gun control measures. It’s a chance for us to reflect on the broader implications of gun ownership and the importance of striking a balance between personal liberties and public safety. Maybe Padilla himself should initiate a review of the present firearms law as an esteemed senator of the land. Or maybe not, lest he be accused of amending that law so he can go on with his, pardon my French, “liaison dangereuse.” Now, that’s a thought worthy of stroking one’s suave “moustache gauloise”, right? The post Robin’s dangerous liaisons appeared first on Daily Tribune......»»
CoA flags OSG ‘bank accounts’
The Commission on Audit has raised concerns on the Office of the Solicitor General’s alleged P43.583 million in bank accounts intended for its lawyers that remained undisposed due to a lack of records. In the 2022 report to the OSG, state auditors discovered that the sum was the unpaid honoraria for legal services rendered by its lawyers. The absence of supporting documents, such as the names or identities of the lawyers and remitting agency-clients, the agency has no idea to whom the amount is payable. The lack of credit memoranda and notices of payment/remittances from various agency-clients of the OSG makes it difficult to determine which of its lawyers is intended to participate in the honoraria. Based on the audit report, there was P43.58 million in the agency’s bank account as of yearend 2022, which holds fees paid to OSG lawyers rendering legal assistance and services by agency clients. “Moreover, since no actual claims have been filed by the lawyers/claimants for several years, the amount accumulated and remained undisposed,” the CoA said. Based on the audit report, there was P43.58 million in the agency’s bank account as of yearend 2022, which holds fees paid to OSG lawyers rendering legal assistance and services by agency clients. While the OSG was able to conduct a bank reconciliation statement, which was supposed to identify discrepancies between the agency’s books and bank records as well as potential instances of fraud, it was discovered that the P43.58 million reported in the BRS are “unidentified and unverified bank credit transactions.” The CoA alleged that the OSG cannot establish from the brief notice who was paid, how much was paid, or even which agency clients made the payments. “The bank credit transactions…were not supported by credit memoranda and notices of payment/remittances. In view thereof, the identity of the lawyers concerned and remitting agency-clients could not be determined,” the CoA said. State auditors recommended that OSG tap its chief accountant to secure copies of the credit memoranda from the servicing banks and advised the concerned lawyers to obtain from the agency-clients copies of the notices of payments with the list containing their names. To file claims for honoraria payments, lawyers, however, must present the appropriate supporting documents. The OSG, however, stated in its comment that the accounting division discovered bank credit transactions of P18.07 million that were classified and recorded in the account of its lawyers. The said transactions will be categorized and corrected in accordance with their correct account categorization, according to the OSG. The post CoA flags OSG ‘bank accounts’ appeared first on Daily Tribune......»»
Good audit, good barangay governance
A local government public administration practitioner and a college professor are one in saying that a good audit could lead to good barangay governance. They said the country needs developmental auditors who could promote the general welfare of the public, especially at the grassroots level. A good auditor conducts financial audits and not fraud audits in the agency where he or she is assigned as a resident auditor. A financial audit is constructive, developmental and progressive. A fraud audit is negative in perspective. The financial audit enables. The fraud audit disables. Last week, I came across an audit report on the accounts and financial operations of a barangay in a city of Metro Manila. The audit report was prepared and submitted by a financial auditor with excellent expertise in both communication and local state audits. The audit found, among other things, deficiencies such as a violation of procurement law for resorting to a personal canvass instead of a public bidding; failure to plan and manage effectively the financial resources, as shown by the unreconciled discrepancy in bank reconciliation statements; non-registration with PhilGEPS despite a substantial procurement of goods; non-coordination with the office auditor when there were deliveries of procured items; non-implementation of laws, rules, and regulations governing cash advances; and failure to revert to the unappropriated surplus long outstanding accounts payable that had long remained unclaimed. To overcome the above deficiencies, the Audit Team recommended the following courses of action: Instead of resorting to a personal canvass in procuring goods, the Barangay should utilize the procedure provided under Republic Act 9184 and its implementing rules and regulations; The Punong Barangay should stop the practice of processing claims that are not supported by complete documentation; To avoid a cash deficit, the Barangay should use cash flow analysis in monitoring its cash inflows as against outflows; To resolve the unreconciled discrepancy in the bank reconciliation statement, the office of the city accountant should analyze the discrepancy between the books and bank balances of Cash in Bank-Local Currency Current Account or CIB-LCCA, and make the necessary adjustments in the books of accounts for presentation of account balance, and submit a bank reconciliation statement or BRS indicating the breakdown and nature of the reconciling items, together with the supporting documents; The Barangay should register with PhilGEPS and begin its utilization in accordance with the 2009 RIRR of RA 9184; The Punong Barangay should send written notices of delivery to the City Auditor’s Office within 24 hours of acceptance of deliveries by the Barangay; The Punong Barangay should see to it that the Barangay Treasurer remits the taxes withheld to the BIR in full; To resolve the issue of unliquidated cash advances, the Barangay Treasurer should be required to liquidate immediately long outstanding cash advances granted and implement available remedies under COA Circular 2012-004; and The Barangay Treasurer should revert the long outstanding accounts payable to the unappropriated surplus of the General Fund pursuant to Section 98 of PD 1445. In accordance with the request of the Audit Team for comments, we are respectfully submitting the following: We appreciate the meticulous care that the Audit Team exerted in going over the way the Barangay handled and managed its funds and resources, how things and people were administered within the village, and how fiscal discipline was observed in accordance with the law and rules that we can recall and within the confines of Section 16 and Section 17 of the Local Government Code regarding general welfare and self-reliance. We tried our best, but our best was not enough. We had shortcomings but rest assured such shortcomings were simply procedural. Indeed, your findings in this exercise will prove very useful in our sincere effort to correspond with equivalent zeal to fully comply with the requirements of the Office of the City Auditor. The recommendations are clear, precise, and simple. We shall observe them as required by the law, the rules, and regulations of the Commission on Audit. The post Good audit, good barangay governance appeared first on Daily Tribune......»»