Manila Standard Business

08/12/2024

Entrepreneur trades passion for practicality

Destiny has a way of uncovering better opportunities for people like Mariel Rabano. Since childhood, Rabano has aspired to become a doctor, and she pursued a degree in Psychology.

However, life took a sharp turn during the pandemic. Graduating during this challenging time made it difficult for her to find a job. Ultimately, she decided to join the family business that her father had dedicated his heart and soul to.

“Joining the family business was not the path I envisioned, but given the circumstances of the pandemic, it became essential to support my dad and keep the family legacy alive,” she said.

Mall decorator

Fabricraft Handicraft Trading (FHT) has been in existence for nearly 25 years, but it was only in 2010 that the world recognized its potential as a manufacturer, supplier and distributor of finely crafted handicrafts.

Rabano’s father Fermin worked as a supervisor for a handicraft company back in the early 1990s. When an opportunity arose, he decided to venture out on his own, building his business from the ground up.

He brought on a team that included relatives and seasonal workers during the Christmas period. Over time, he secured a partnership as a supplier for Alriver Export Corporation, marking a pivotal milestone in the business’s growth.

As a subcontractor for Alriver, he gained clients and expanded operations. The company specializes in designing and installing seasonal decorations for malls and buildings, such as Ayala Triangle, and Araneta Center, and very recently was the festive adornment for the Greenfield District in Mandaluyong City.

Destiny has a way of uncovering better opportunities for people like Mariel Rabano. Since childhood, Rabano has aspired to become a doctor, and she

08/12/2024

Filipina brand strategist champions AI as a catalyst for innovation and trust
Ardent Communications (ArdentComm) founder and CEO Ana Pista urged communication professionals to embrace artificial intelligence (AI) as a powerful tool for innovation while prioritizing human creativity and ethical practices.

Speaking to over 200 aspiring professionals at the LSPR Institute of Communication and Business in Indonesia, Pista emphasized the importance of aligning AI strategies with evolving consumer expectations and fostering meaningful connections.

“The true success of AI lies in its ability to amplify human experiences and foster collaboration. AI thrives when it serves as a transparent, ethical, and customer-centric tool that complements human creativity,” Pista told the audience.

Pista pointed to the increasing adoption of AI in the Philippines, referencing the Cisco 2024 AI Readiness Index. The report revealed that 22 percent of Philippine organizations are now fully AI-ready, a 17 percent jump from the previous year. However, she acknowledged that businesses still face challenges in maximizing AI’s potential.

Ardent Communications (ArdentComm) founder and CEO Ana Pista urged communication professionals to embrace artificial intelligence (AI) as a powerful tool

08/12/2024

Green energy innovator celebrates dual wins at Solar Quarter Awards 2024
Berde Renewables Inc., a leading innovator in green energy in the Philippines, clinched two prestigious titles at the Solar Quarter Leadership Awards 2024: Company of the Year in Solar Asset Management and Best Engineering Team of the Year.

The awards, which highlight excellence in the solar energy sector, drew top players from across the Philippines and showcased the industry’s brightest innovators.

“Being recognized by Solar Quarter “Being recognized by Solar Quarter Southeast Asia shows we’re on the right track in making solar energy work for Philippine businesses. Each business has unique energy needs, and it’s been incredible to see how the right solar solutions help drive their growth,” said Berde Renewables CEO Patrick Zhu.

Berde Renewables Inc., a leading innovator in green energy in the Philippines, clinched two prestigious titles at the Solar Quarter Leadership Awards

08/12/2024

Snacking company wins Sustainability award

Mondelēz International in the Philippines has been honored with the IABC Triple P Award for Excellence in Environmental Sustainability in the Food Manufacturing category.

The recognition underscores the company’s commitment to advancing sustainable practices. Under its sustainable snacking framework, the company focuses on reducing carbon emissions, managing plastic waste, and engaging communities.

The company’s sustainability efforts are rooted in its vision of empowering people to snack responsibly while supporting resource efficiency and waste reduction.

Mondelēz International in the Philippines has been honored with the IABC Triple P Award for Excellence in Environmental Sustainability in the Food

08/12/2024

PH jobless rate declined to 3.9% in October—PSA

Unemployment rate in October 2024 slightly dropped to 3.9 percent from 4.2 percent in the same period last year, the Philippine Statistics Authority (PSA) said Friday.

This translates to an additional 369,000 Filipinos with jobs compared to October 2023, bringing the full-year employment creation to about 845,000.

The figure, however, rose from a record low of 3.7 percent registered in September 2024.

The PSA said that in terms of magnitude, the number of unemployed individuals in October 2024 reached 1.97 million, lower than 2.09 million in October 2023. It was, however, higher than 1.89 million in September.

The year-on-year reduction brought the full-year figure down to 4.3 percent from 4.6 percent, better than the 2024 target set by the Philippine Development Plan of 4.4 to 4.7 percent.

https://manilastandard.net/business/314532971/ph-jobless-rate-declined-to-3-9-in-october-psa.html

01/12/2024

Local handicraft maker achieves global success

Located at the center of the business district in Pasig City, Alriver Export Corp. has been spreading holiday cheer worldwide through its intricate handcrafted angels and nativity sets.

What began as a small business making baskets in the 1980s has evolved into a globally-recognized brand known for its high-quality, artistic Christmas decorations.

Family legacy

The eldest in a brood of four, Alessa De Rivera-SanJuan took over the family business following her father’s semi-retirement. Two of her siblings play vital roles in the daily operations, while her mother remains the heart and soul of the enterprise, driving its artistic vision with unwavering passion.

“My parents started the business in the 1980s with baskets, but as the market became saturated, a friend suggested we try making angels. That’s when everything changed,” De Rivera-SanJuan said.

https://manilastandard.net/business/314530422/local-handicraft-maker-achieves-global-success.html

01/12/2024

Bounty Fresh celebrates healthier holidays with NAE

Bounty Fresh Chicken is taking holiday celebrations a notch higher with its Bounty Fresh No Antibiotics Ever (NAE) line, delivering premium quality and ensuring safer, healthier meals.

“At Bounty Fresh, we believe the holidays are all about celebrating love and family over meals that truly matter. Our chickens, raised with NAE represent our dedication to offering Filipino families safer, healthier, and more flavorful choices for memorable holiday feasts,” said Bounty Fresh Group Holdings Inc. CEO Kenneth Cheng.

Raised without antibiotics or steroids, Bounty Fresh Chicken NAE pushes Bounty Fresh Group Holdings, Inc.’s “Food Made Better” advocacy, prioritizing healthier, more sustainable, and ethically produced food options.

By adopting NAE practices, Bounty Fresh not only reduces the risk of superbugs but also champions ethical farming principles that emphasize animal welfare and environmental care.

Bounty Fresh Chicken is taking holiday celebrations a notch higher with its Bounty Fresh No Antibiotics Ever (NAE) line, delivering premium quality and

01/12/2024

Funding network gathers startups to accelerate impact investments

The Impact Pioneers Network, a pioneering angel investing network launched by Villgro Philippines and xchange, brought together local climate startups and investors during Philippine Startup Week 2024 to tackle environmental challenges through impact investing.

The event strived to secure investments and partnerships to accelerate the growth of climate-focused solutions.

At the heart of the event was the Green Tank: Climate Innovation Challenge, a pitch showcase featuring startups focused on climate adaptation and resilience.

Notable participants included BillionBricks, Altilium Green Energy, Magwayen Organics Inc. (MAGWAI), Verta Bioenergy, and Lycan Motorcycles Inc.

https://manilastandard.net/business/314530418/funding-network-gathers-startups-to-accelerate-impact-investments.html

01/12/2024

Mobility campaign uplifts communities through bike repairs

As government agencies and local units work to enhance bike lanes and cycling infrastructure, Allianz PNB Life (AZPNBL) is championing the mobility shift through its Ride Safe Campaign.

Previously launched in 2021, the advocacy expanded In 2023 with Ride Safe 2.0, which provides livelihood support to beneficiaries of SOS Children’s Village Pilipinas, empowering participants with entrepreneurial skills and resources to build sustainable bike-related businesses. The program still supports the cities of San Juan, Taguig, and Manila.

Key components of Ride Safe 2.0 include technical training in bike maintenance, financial planning, and business management at the Hermann Gmeiner National Training Center. Participants also gain practical experience through apprenticeships with seasoned bike mechanics and entrepreneurs.

Successful participants received seed funding to cover startup costs for bike repair hubs. The program provides a foundation for economic independence and supports families in achieving financial stability through bike-related enterprises.

https://manilastandard.net/business/314530415/mobility-campaign-uplifts-communities-through-bike-repairs.html

28/11/2024

Economic managers undeterred by politics

The Philippines’ economic managers are undeterred by politics, as they welcomed the news that S&P Global Ratings (S&P) raised the Philippines’ credit rating outlook to “positive,” indicating a possible upgrade to an “A-” rating within 24 months.

“All branches of government are focused on fulfilling ​their various functions in a whole-of-government approach towards our agenda for prosperity​,” the economic managers said in a statement.

They issued the statement in the wake of increasing political noise ahead of the 2025 mid-term elections and after ​S&P Global Ratings (S&P) raised the Philippines’ rating outlook, while keeping the sovereign credit ratings at investment-grrade “BBB+”.

Special Assistant to the President for Investment and Economic Affairs Secretary Frederic Go, Finance Secretary Ralph Recto, Budget Secretary Amenah Pangandaman and National Economic and Development Secretary Arsenio Balisacan said the Philippines is determined to achieve an A rating, and the Marcos administration is ensuring that the transformation of the economy would not be set back by political challenges.

The Bangko Sentral ng Pilipinas said an improved rating or outlook helps the government borrow at lower interest rates, allowing it to fund more services and infrastructure. This also helps businesses borrow at lower rates, helping fund expansion and job creation.

The Philippines’ economic managers are undeterred by politics, as they welcomed the news that S&P Global Ratings (S&P) raised the Philippines’

28/11/2024

Gov’t posted P6.3-b budget surplus in October

The government posted a rare budget surplus of P6.3 billion in October 2024 on the back of a 22.63-percent jump in revenue collections which outpaced the 11.08-percent increase in expenditures, the Bureau of the Treasury said Wednesday.

It was a huge improvement from the P34.4-billion budget deficit registered in October 2023.

“Thus, the year-to-date deficit narrowed to P963.9 billion, which stands at only 64.94 percent of the P1.48 trillion full-year program,” the Treasury said.

Revenue collections in October amounted to P473.1 billion, up by P87.3 billion from the same month last year, driven by robust growth in both tax and non-tax collections. The P3.8-trillion 10-month revenues also surpassed last year’s performance by 16.83 percent to P542.4 billion.

It represented 88.20 percent of the P4.27-trillion revised full-year program.

The government posted a rare budget surplus of P6.3 billion in October 2024 on the back of a 22.63-percent jump in revenue collections which outpaced the

28/11/2024

San Miguel to open wider SLEx stretch in December

San Miguel Corp. said the new 6×6-lane configuration of the South Luzon Expressway (SLEX) from Susanna Heights in Muntinlupa City to Calamba, Laguna — with two additional lanes on both southbound and northbound sides — will open in December 2024 in time for Christmas.

The at-grade expansion, undertaken by San Miguel unit and SLEX concession holder SMC SLEX Inc., is proceeding on schedule, with the 29-kilometer stretch slated to open in the third week of December.

SMC chairman and chief executive Ramon Ang said the construction on the section from Calamba to Sto. Tomas, Batangas and the expansion of some 20 bridges connecting the SLEX main carriageway would be completed by July 2025.

“This December, as our countrymen prepare to celebrate Christmas and travel more to spend time with friends and family, they can look forward to a wider, better SLEX. This will help in significantly reducing traffic buildup during the Holiday rush,” Ang said.

San Miguel Corp. said the new 6x6-lane configuration of the South Luzon Expressway (SLEX) from Susanna Heights in Muntinlupa City to Calamba, Laguna —

28/11/2024

Aboitiz to start Panglao airport upgrade in 2025

Aboitiz InfraCapital Inc. (AIC) said Wednesday it expects to start upgrading the Bohol-Panglao International Airport in Panglao by 2025.

The company said it received the notice of award (NOA) for the airport from the Department of Transportation and Civil Aviation Authority of the Philippines on Nov. 18, 2024. The concession agreement’s official signing is expected to occur by end-2024.

The Bohol-Panglao International Airport is the second successful airport PPP project awarded by the government to AIC this year via an unsolicited bid after Laguindingan International Airport.

This also marks AIC’s third gateway after the award-winning Mactan-Cebu International Airport in Lapu-Lapu City, Cebu and Laguindingan-International Airport in Laguindingan, Misamis Oriental.

AIC said the expansion of its airports portfolio into Visayas, where the Aboitiz Group traces its roots, solidifies its position as a key player in the Philippine aviation sector.

“Our commitment to modernizing the Bohol-Panglao International Airport underscores our vision of creating world-class infrastructure that enables progress in key growth areas of the Philippines. This project is not just about upgrading facilities but also about boosting economic opportunities, enhancing tourism, and improving connectivity in the Visayas region, and we are excited to be a part of this initiative,” said Aboitiz InfraCapital president and chief executive Cosette Canilao.

Aboitiz InfraCapital Inc. (AIC) said Wednesday it expects to start upgrading the Bohol-Panglao International Airport in Panglao by 2025. The company said

28/11/2024

Electric co-ops still slow in restoring power to the provinces

Fallen electric poles and interrupted power services are the telltale damage of a violent typhoon.

Time and again, electricity supplies in the provinces are disrupted by the strong winds of tropical storms, just like the four successive typhoons that swept Luzon in just over a week this month.

And more often than not, electric cooperatives (ECs) are slow in restoring power to their respective franchises. The poor response from a public service provider like ECs after a disaster is inexcusable—they should be at the forefront of recovery efforts.

Providing reliable and sustained power supply is the mandate of the ECs. This includes restoring electricity immediately to ease the sufferings of typhoon victims.

Typhoons Marce, Nika, Ofel and Pepito hammered Central and Northern Luzon this month. At least 27 ECs operating in 21 provinces from seven regions, according to the National Electrification Authority (NEA). were affected by these violent storms. The ECs as a result were forced to temporarily shut down their operations, leaving residents and commercial establishment in those areas without electricity for several days.

Lack of capital impedes the capacity of ECs to respond to disasters. Fallen electric poles and interrupted power services are the telltale damage of a

28/11/2024

USAID, AC Health team up on HIV services

The US Agency for International Development (USAID) teamed up with Ayala Healthcare Holdings Inc. (AC Health) to strengthen the private sector’s role in providing stigma-free care and lifesaving HIV services in the Philippines, which faces one of Asia’s fastest-growing HIV epidemics.

Funded by the US President’s Emergency Plan for AIDS Relief (PEPFAR), the initiative, created on Nov. 26, 2024, aims to develop, test and scale solutions for improving and expanding HIV prevention and care.

“This partnership harnesses collaboration and private sector expertise to address the HIV epidemic. The United States remains committed to working for a future rooted in compassion, understanding, and better healthcare access for all,” said US Ambassador to the Philippines MaryKay Carlson.

The US Agency for International Development (USAID) teamed up with Ayala Healthcare Holdings Inc. (AC Health) to strengthen the private sector’s role in

28/11/2024

PH hiring activity rose 20% in October

A leading job and talent platform unveiled its latest foundit Insights Tracker (fit) report, showcasing a 20-percent increase in hiring activity in the Philippines for October 2024.

The surge, driven by strategic economic reforms and infrastructure development, highlights the region’s potential for robust economic growth.

The report indicates a significant rise in hiring activity, with the index reaching 163 in October 2024, up from 118 in October 2023. The increase underscores the robust recruitment momentum in the Philippines, according to foundit, which is formerly known as Monster.

Hiring activity saw a 15-percent month-on-month increase, with the index rising from 142 in September 2024 to 163 in October 2024, reflecting a strengthening job market.

A leading job and talent platform unveiled its latest foundit Insights Tracker (fit) report, showcasing a 20-percent increase in hiring activity in the

28/11/2024

ARTA, gov’t agencies extend MOU to promote responsible mining

The Anti-Red Tape Authority (ARTA) and key government agencies and stakeholders extended a memorandum of understanding (MOU) on responsible mining in response to President Ferdinand Marcos Jr.’s call for a more stable and sustainable mining industry.

The ceremonial signing on Nov. 22, 2024, in Baguio City, brought together the Department of Environment and Natural Resources (DENR), Department of the Interior and Local Government (DILG), Department of Trade and Industry (DTI), Department of Finance (DOF), Department of Energy (DOE), National Commission on Indigenous Peoples (NCIP), the Office of the Special Assistant to the President on Investment and Economic Affairs (OSAPIEA) and other partners to create an inclusive and sustainable mining sector in the Philippines.

DENR Secretary Maria Antonia Yulo-Loyzaga and ARTA Secretary Ernesto Perez, who co-chairs the extended mining MOU, reiterated the importance of collaboration among agencies, private sector stakeholders and indigenous communities.

“Responsible mining is essential for ensuring that economic gains benefit both the nation and future generations. By working together, we can achieve a sector that prioritizes sustainability and social equity,” said Yulo-Loyzaga.

Perez highlighted the importance of streamlining processes and adopting modern technologies to improve mining operations.

The Anti-Red Tape Authority (ARTA) and key government agencies and stakeholders extended a memorandum of understanding (MOU) on responsible mining in

27/11/2024

S&P upgrades PH credit rating outlook, forecasts 5.5% growth

S&P Global Ratings (S&P) upgraded the Philippines’ credit rating outlook to “positive,” indicating a possible upgrade to an “A-” rating within 24 months, helping lower borrowing costs and making the country more attractive to investors.

S&P kept the sovereign credit ratings at “BBB+” for long-term and “A-2” for short-term.

S&P raised the outlook citing the country’s effective policy making, fiscal reforms, improved infrastructure and policy environment that have helped keep economic growth strong in the past decade. It also cited the recent passage of the CREATE MORE and PPP laws.

An improved rating or outlook helps the government borrow at lower interest rates, allowing it to fund more services and infrastructure. This also helps businesses borrow at lower rates, helping fund expansion and job creation.

“The BSP welcomes S&P’s decision. This reflects the work the government has done to improve the economic, fiscal and monetary environment, enabling strong growth to continue,” Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona, Jr. said.

https://manilastandard.net/business/314528710/sp-upgrades-ph-credit-rating-outlook-forecasts-5-5-growth.html?fbclid=IwY2xjawGzfDNleHRuA2FlbQIxMAABHVMWlx94LfzvIDDFQ1cPF4LmljihovfmPhAfIWGP_BgPpQS4x_oZtLDc4A_aem_8IP1Pmj_suwFgi27rOXELQ

S&P Global Ratings (S&P) upgraded the Philippines’ credit rating outlook to “positive,” indicating a possible upgrade to an “A-” rating within 24