Vivant diesel business to boost bottomline
Cebu-based Vivant Energy Corp. expects its diesel portfolio to increase its income contribution by 10 to 15 percent following the acquisition of two Mindanao bunker-fired power plants......»»
Ministry helping improve BARMM’s business climate names 10 new officials
The Bangsamoro chief minister has filled out ten regional positions in one of the ministries under him to boost its operation as requested by business blocs enticing foreign investors to venture into viable businesses in the region......»»
Why Choosing the Right Tools and Equipment Helps Boost Productivity
Improvising and being resourceful is a good trait for an entrepreneur but being too much of it can also harm the productivity and safety of the business. Using proper tools and equipment can help lessen the workload and make business operations much smoother. Here are three reasons why using the right tools and equipment is […].....»»
Why planned power boost to Cebu Island welcomed and needed
MANDAUE CITY, Cebu — A business leader in Cebu’s industrial and logistics hub welcomes a firm’s plan to give the island a power boost with its planned expansion and construction of its power facilities. Mark Ynoc, incoming president of the Mandaue Chamber of Commerce and Industry (MCCI), told CDN Digital in a message, why the.....»»
PLDT arm strengthens tieup with Tarlac rural bank
The business arm of PLDT Inc. has strengthened its partnership to further boost the digitalization journey of Signabank Rural Bank of Sta. Ignacia based in Tarlac......»»
PLDT arm strengthens partnership with tarlac rural bank
The business arm of PLDT Inc. has strengthened its partnership to further boost the digitalization journey of Signabank Rural Bank of Sta. Ignacia based in Tarlac......»»
Lamitan City’s 6th seal of good local governance eyed to boost local investment climate
The local government unit of Lamitan City in Basilan province got its sixth Seal of Good Local Governance from the central office of the local government department, many in the business sector consider a big boost to the area’s investment climate......»»
IT-BPM sector banking on AI to boost productivity
The country’s information technology-business process management sector is working on the strategic integration of generative artificial intelligence, banking on its potential to boost productivity, according to an industry group......»»
IBPAP, SEIPI partner to boost exports
The IT and Business Process Association of the Philippines and the Semiconductor and Electronics Industries in the Philippines Association have partnered for various initiatives aimed at boosting the country’s exports......»»
Officials keen on organizing more coops in Cotabato province
Local officials are keen on organizing entrepreneurs in municipalities in Cotabato province into cooperatives to boost their connectivity with local business blocs and prospective contacts outside......»»
Belgian wealth fund managers to explore Phl investments
Belgium’s sovereign wealth fund managers are looking to visit the country to explore investments in Philippine firms engaged in a range of public services, the Department of Finance said Saturday. DoF Secretary Benjamin Diokno and officers of the Federal Holding and Investment Company or La Société Fédérale de Participations et d’Investissement discussed opportunities in public-private partnerships in finance, aeronautics and mobility, health, utilities and impact investing. “Koenraad Van Loo, CEO of SFPIM, shared that the company is keen to visit the Philippines to explore partnerships in its priority sectors,” a statement from the DoF said. “SFPIM preserves the long-term stability of the Belgian economy by contributing to the anchoring of strategic assets through smart capital solutions for both promising and established companies,” the DoF added. According to the 2023 World Competitiveness Ranking, Belgium is 13th out of 64 countries in economic performance. The country is also among the top in business efficiency at fifth place and tenth in infrastructure. The Philippines, on the other hand, ranks 40th in economic performance and business efficiency, and 58th in infrastructure. Long-term economic growth President Ferdinand Marcos Jr. has vowed to boost infrastructure development for national long-term economic growth through proceeds from the Maharlika Investment Fund which his administration expects to be activated before the end of the year. The Philippine sovereign fund is open to local and foreign investors in the public and private sectors, and aims to support 197 flagship infrastructure projects worth a total of some $155 billion. Diokno said the DoF has met with foreign government and business leaders at the European Union’s first Global Gateway Forum last 25 to 26 October in Brussels, Belgium to also discuss the Philippine sovereign fund. The Finance Secretary said he talked to the Belgian Investment Company for Developing Countries or BIO led by its chief executive officer Luuk Zonneveld. “Discussed were opportunities to finance projects in the Philippines that drive sustainable development, particularly gender equality, climate action, and decent work,” he said. BIO uses private funds to support small and medium businesses, and financial institutions also in Africa and Latin America. Confident in the administration Meanwhile, Professor Dindo Manhit of business consultancy outfit, Stratbase ADR Institute said he is confident the Marcos administration can attract more foreign investments in agro-industrial and digitalization through its participation in global economic meetings abroad. “By establishing strong links in the economic space, the Philippines can further solidify its role in the global supply chain,” Manhit said. “We are confident that this administration will continue to advocate for reforms that will ensure our economic growth to make the country a premiere investment destination,” he added. The post Belgian wealth fund managers to explore Phl investments appeared first on Daily Tribune......»»
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......»»
Lenovo considers Phl top regional mart
Even if neighboring countries in Southeast Asia have the advantage of using advances in technology ahead, the Philippines remains an integral market according to an official of Lenovo. Lenovo, a Chinese multinational technology company specializing in designing, manufacturing, and marketing gadgets, software, business solutions, and related services, sees strong demand for its products in the Philippines. “The only question is how the consumers get the technology. The pandemic has even made the demand in the Philippines surge because of the digital transformation, unlike pre-pandemic where everyone is scrambling,” according to Gian Carlo Nogales, a representative of the Infrastructure Solutions Services Sales of Lenovo Philippines “Right now, because of the transformation, growth is very evident. In other words, investments, including Lenovo technologies are still in demand in the market,” Nogales said at the sidelines of the VST ECS CXO Tech Summit at the Dusit Thani in Mactan Cebu. “In terms of devices, the Philippines is actually doing well,” he added. Last August, the company said that over the next three years, Lenovo is committing a further $1 billion in investment for artificial intelligence that will focus on providing AI devices, AI-ready, and AI-optimized computing infrastructure, and embedded AI-generated content into the intelligent solutions of vertical industries to help customers improve their productivity. Lenovo in September 2023 has unveiled new cutting-edge technology tools and essentials tailored to empower the dynamic, evolving needs of today’s business end-users. It said that the new monitor, software, and accessories are not only designed to boost the capabilities of remote and hybrid workforces but also address significant challenges faced by businesses in the digitalization trend. The post Lenovo considers Phl top regional mart appeared first on Daily Tribune......»»
Lenovo treats Phl as top Southeast Asian market
Even if neighboring countries in the Southeast Asian region are advantageous in terms of being technology savvy, the Philippines remains an integral market according to an official of Lenovo, a Chinese multinational technology company specializing in designing, manufacturing, and marketing consumer electronics, personal computers, software, business solutions, and related services. “We see strong demand for the Philippines, the only question is how the consumers get the technology. The pandemic has even made the demand for the Philippines surge because of the digital transformation, unlike pre-pandemic where everyone is scrambling. Right now, because of the transformation, growth is very evident. In other words, investments, including Lenovo technologies are still in demand in the market,” according to Giancarlo Nogales from the Infrastructure Solutions Services Sales of Lenovo Philippines at the sidelines of the VST ECS CXO Tech Summit at the Dusit Thani in Mactan Cebu. “In terms of devices, the Philippines is actually doing well,” he added. Last August, the company said that over the next three years, Lenovo is committing a further $1 billion in investment for artificial intelligence that will focus on providing AI devices, AI-ready, and AI-optimized computing infrastructure, and embedded AI-generated content into the intelligent solutions of vertical industries to help customers improve their productivity. Lenovo in September 2023 has unveiled new cutting-edge tech tools and essentials tailored to empower the dynamic, evolving needs of today’s business end-users. It said that the new monitor, software, and accessories are not only designed to boost the capabilities of today’s remote and hybrid workforces but also to address significant challenges faced by businesses as they digitize operations across departments. “Lenovo research shows that managing a remote workforce and global teams remain central tasks for CIOs.1. That is why the new offerings integrate impressive processing power, immersive 3D, and advanced security to create a unified, human-centered experience,” the company said. Further, Nogales added that sales for Lenovo in the Philippines will continue to soar as the country has a bigger population which connotes demand compared to other nations in SE Asia. What Lenovo can count on with the Philippines is the demand for laptops and tablets that are now being used by students, educators, workers, and even the government. “Actually, we have an ongoing engagement with the government sector. I was at an event with the DICT (Department of Information and Communications) and we had discussions with the Department of Education as well, but we still understand what they are looking for. Of course, with DepEd, it’s a big agency, and what I can say is we are working with them across whatever we can offer—cloud technologies, among others,” he told the DAILY TRIBUNE. Nogales said he sees an ongoing digital transformation within organizations and will continue over the coming years. Digital transformation is an ongoing journey Meanwhile, VST ECS president and CEO Jimmy Go stressed that in the ever-evolving world of technology, organizations are charting a course - through a landscape that has seen profound advancement in recent years. “It's important to understand that digital transformation is not a one-time event but an ongoing journey. Every day, we bear witness to the unveiling of new digital technologies. In this dynamic environment, the lines between the physical and digital worlds are blurring, creating a phenomenon known as phygital convergence," he said. He said organizations nowadays stand at the threshold of a remarkable technological revolution. “Generative AI is the talk of the town with Chat GPT and other AI, offering organizations the power to intelligently automate customer experiences and streamline internal operations. The implications of this technology are far-reaching. Microsoft is launching CoPilot and most software applications are incorporating AI in their applications. Gartner predicts that by 2030, a staggering 80 percent of people will interact with smart robots daily, and in just two years, these smart robots will become workforce partners for 90 percent of global companies,” he said. Further, Go stressed that AI and machine learning, once a novel concept, have become integral to the products and services offered by major companies. “A mere decade ago, we were learning to communicate with machines. Today, machines understand and adapt to our language, erasing the boundaries between humans and technology. While AI is currently the headline in the tech world, we must not lose sight of the critical need to modernize our IT infrastructure,” he stated. For organizations to embrace technology, he said it’s a pivotal step in allowing organizations to embrace the latest technology trends, including Multi Clouds, Quantum computing, Data explosion, RPA, Generative AI, and more. “Investments in Connectivity solutions, Digital Infrastructure, Cloud technologies, Cybersecurity, Big data, Storage, Automation, and Collaboration tools remain vital to prepare for the ever-evolving Tech landscape. In the Israel-Hamas and Ukraine-Russia wars, Technology plays a very important and critical role in their war strategies. Computers, AI, Starlink, and drones are heavily used in their strategies,” he said. The post Lenovo treats Phl as top Southeast Asian market appeared first on Daily Tribune......»»
EEI ‘hold’ tipped with robust infra
Listed infrastructure multinational EEI Corpo. posted a net loss of -P701.12 million in the second quarter, primarily due to losses from its equity in associates and joint ventures, primarily its unit Al Rushaid Construction Co. Ltd., or ARCC. Consolidated revenues rose by 25 percent from a year ago to P7.85 billion, but its gross profit shrank by 21 percent year-on-year to P515 million due to delays in materials, effects of bad weather, and license approvals. Brokerage house and research firm Regina Capital Development Corp., or RCDC, said the growth in EEI’s topline was mainly driven by improving construction contracts. “The company’s unworked portion of existing contracts is at P47.4 billion but expects a robust inflow of projects. The Build, Better, More Infrastructure Program is expected to boost construction services demand,” RCDC said. It added that the construction sector experienced growth in gross fixed capital formation in 2021 and 2022, an indication of potential recovery despite the economic challenges. However, the sector’s growth in the second quarter was below average, which RCDC said revealed economic risks. The price index, which has been on a downtrend since October 2022, could be a potential growth source. BBM’s main growth driver The BBM program, which will continue to stimulate domestic construction demand, will also benefit the sector. “Given the challenges posed by the slowed growth in gross capital formation for construction, as well as the impact of losses from equity in associates and joint ventures on EEI’s earnings, we are reducing our target to P5.30 per share, down from P7.50. This adjustment reflects the cautious outlook for the construction sector and the need for EEI to address its associated losses while also acknowledging potential future opportunities such as the government’s BBM infrastructure program. Hence, we are placing a “hold” recommendation on EEI. RCDC cited the updates on the company that merited its recommendation. EEI has continued with its reorganization. In a report to the stock market back in September 2023, its board approved the divestment of the company’s 60 percent interest in its subsidiary, BiotechJP Corp., a company engaged in the manufacture of food and therapeutic food products, as it focuses on its core business which is construction. Real estate brand Filigree tapped EEI Corp. for the general construction works of its newest project, Two Botanika, in Alabang, Muntinlupa. EEI’s unit, EEI Power Corp. is set to develop an electronic vehicle charging system through a new corporation after partnering with a cloud solution and service provider. EEI Power said it would have a 40 percent stake in the new corporation that it would establish together with SysNet Integrators Inc. The post EEI ‘hold’ tipped with robust infra appeared first on Daily Tribune......»»
Iloilo appeals to break stalemate in port dev’t, privatization
The Iloilo government is asking the Department of Transportation or DoTr, the mother agency of the Philippine Ports Authority or PPA, to help hasten the privatization and overhaul of the Iloilo Commercial Port Complex, which could catalyze economic growth in the city. Speaking to reporters on Friday, Iloilo City Mayor Jerry P. Treñas said a much-needed Public-Private Partnership will facilitate a more efficient trade and faster supply chain movement across the city. "Together with the business community, we have been pushing for the development of our ports — both airport and seaports. There was an offer from the ICTSI (International Container Terminal Services, Inc.) for our port but it is not moving," Treñas told reporters. The Iloilo City Local Development Council Executive Committee through Resolution No. 1 Series of 2021 had already endorsed the unsolicited proposal of the ICTSI to the National Economic Development Authority for review and approval. Yet, the submission has not progressed into a favorable action or result to date. Treñas, who sits as Chairman of the Infrastructure Development Committee of the Regional Development Council, had requested PPA General Manager Jay Daniel R. Santiago to prioritize fund allocation for the city's port development and expansion. In his letter dated 5 September 2023, Treñas cited that Western Visayas recorded the highest economic growth rate among all regions at 9.3 percent, which exceeded the national average of 7.2 percent. However, Treñas lamented that the Iloilo International Port in Barangay Loboc, Lapuz, Iloilo City, has not seen any additional improvements since its establishment in the 70s. Thus, the Iloilo City government reiterated that access to domestic and international transportation and logistics is of utmost importance to boost the sectors of trade, commerce, and tourism. "If ICTSI comes in, we will be able to accommodate more international and domestic vessels and we will have a better RORO (roll-on, roll-off) port. It will also reduce berthing costs," the city mayor said. "I think they presented a proposal to our local economic development office, they proposed to convert it into a container port to improve berthing facilities and add equipment, and I think they want to develop the RORO port. At the moment, we do not have a RORO terminal," he added. Operating 33 terminals in 20 countries across six continents, ICTSI is a global developer, manager, and operator of container terminals in the 50,000 to 3.5 million twenty-foot equivalent units per year range. The post Iloilo appeals to break stalemate in port dev’t, privatization appeared first on Daily Tribune......»»
Boost Your Business with Social Media Word-of-Mouth
In today’s digital age, word-of-mouth marketing is still one of the effective ways to market your products. This powerful marketing tool can help entrepreneurs maximize their social media presence to reach new customers through online conversations. To harness the full potential of this marketing strategy, here’s a simple guide that will help you understand the […].....»»
Standard Chartered taps ePLDT for digital upgrade
Standard Chartered Bank has tapped the information and communications technology arm of telco giant PLDT Inc. to boost its digital infrastructure after it picked the Philippines as the site of its new global business services hub......»»
Tourism, agribusiness need prioritization — PCCI
The country’s biggest congregation of business owners in the country, the Philippine Chamber of Commerce and Industry, said the Marcos Jr. administration must focus on the industries of tourism and agribusiness as they provide opportunities to Filipinos. Apart from the two, PCCI president George Barcelon said other industries that need further push and support are IT-BPO and creative industries, manufacturing, mining, and mineral resources, considered to be ideal and attractive for local and foreign investments and could amplify the economic growth and competitiveness of the country. “Some of our neighboring countries in ASEAN have really moved fast over the past 10 years. We had been lagging them in terms of exports, investments, and trade and we could not afford to be in this situation, so we really need to review our policies for us to be attractive to local and foreign investors,” Barcelon said. He said this will be the center of discussions at the upcoming 49th Philippine Business Conference & Expo set this month, which will gather industry leaders and practitioners to provide insights and share some prospects in what an interesting discussion on policies and regulations could be to attract investors and stimulate investments in these sectors. He said tourism and agribusiness are low-hanging fruits that the government should seriously prioritize and develop as it provides many opportunities for Filipinos. In 2022, the tourism and travel industry only contributed 6.2 percent to the country’s GDP lower than 12.7 percent in 2019 prior to the pandemic. The latest data from the Department of Tourism said that from 1 January to 29 September 2023, a total of 4,005,465 visitors arrived in the country, bringing in a total of P316 billion in revenue into the government coffers and hiring 5.35 million Filipinos in tourism-related jobs. The Philippine agribusiness, on the other hand, contributed only around 8.9 percent to GDP in 2022 where in fact its contribution could actually reach 35 percent. The mining and mineral sector, meanwhile, was able to boost the country’s growth by P102B in 2020 during the pandemic while the manufacturing sector contributed 17.2 percent in 2022. “As the private sector takes the lead in mapping out plans for Vision 2050, we hope our government will focus its attention on harnessing these sectors and address the challenges that hinder the country’s economic growth. We have the competitive advantage to become a first world economy by 2050, we just have to do extra work to achieve it,” said Architect Felino Palafox Jr., who chairs the 49th PBC&E happening on 25-26 October at The Manila Hotel. This year’s conference carries the theme Vision 2050: The Philippines A First-World Economy. It will initiate discussions and gather insights from visionary leaders and policymakers on how the country, given its strategic location, natural and human capital resources, and the many advantages it has, can become one of the industrialized and developed economies by 2050. The two-day event will interestingly gather prominent business personalities, national and local executives, and international leaders. The post Tourism, agribusiness need prioritization — PCCI appeared first on Daily Tribune......»»
3 Engaging Social Media Post Ideas for Your Business
In today’s digital world, social media has become a vital tool for businesses to connect with their customers and boost their online presence. If you’re looking to engage your audience and strengthen your brand on social media, here are three simple and effective types of posts to consider. We’ll explore how these friendly and professional […].....»»
Unemployed, underemployed Filipinos down in August — PSA
Employers in the Philippines hired more Filipinos while fewer people looked for additional working hours, data from the Philippine Statistics Authority showed on Friday. In a press briefing, the PSA said the number of jobless Filipinos reached 2.21 million in August, a decline from 2.27 million unemployed Filipinos last July. The data translated to an unemployment rate of 4.4 percent in August from 4.8 percent last July. PSA added that 5.63 million Filipinos were looking for more hours to increase their income in August, lower than the 7.10 million underemployed persons in July. The underemployment rate fell from 14.7 percent in August 2022 and 15.9 percent in July to 11.7 percent. Underemployed individuals are those who have indicated a wish for more work hours in their current job, a desire to take on a second job, or an interest in finding a new job that offers longer working hours. The rise in the number of people with and without jobs can be attributed to the month-on-month increase in labor force participation. In July, the labor force participation rate increased from 46.90 million to 64.7 percent, up from 60.1 percent in the previous month. "Many people entered the labor force, so unemployment decreased," National Statistician Dennis Claire Mapa said in a press briefing. PSA data mentioned that the majority of employed individuals, 62.6 percent, are wage and salary workers. On the other hand, self-employed individuals make up 27.3 percent, and unpaid family workers constitute 8.0 percent of the employed population. The state-run statistics bureau attributed the surge in employment to specific sectors: fishing and aquaculture with 572,000 new jobs, construction with 534,000, agriculture and forestry with 378,000, human health and social work activities with 153,000, and administrative and support service activities with 143,000. In a separate statement, NEDA Secretary Arsenio Balisacan said the government will continue to ramp up efforts to boost economic growth and quality job creation amid economic headwinds. "To raise the quality of employment further, the Marcos administration is committed to exerting all efforts to shape an attractive business climate for investors with the resources needed to bring in high-quality and high-paying jobs," Balisacan said. The post Unemployed, underemployed Filipinos down in August — PSA appeared first on Daily Tribune......»»