BACK HOME Carmelita Salcedo Dec. 12, 1949 – Feb. 1, 2023 —Contributed photo It is the first Sunday of February, the month of love. So let’s talk about love: the mystery from yore and yonder, from time immemorial to ever after. I am blessed to have received the truest kind of love, the kind described by St. Paul—patient, kind, does not envy, does not dishonor others, does not delight in evil, is not self-seeking, is not easily angered, keeps no records of wrongs, rejoices in the truth, always trusts, always hopes, always perseveres. Of course I received this not from a lover but from my mother! My mother, Carmelita Vargas Salcedo, was called home by the Lord and gracefully departed in her sleep on the first of February. But her legacy of love will last forever. She was my biggest food influencer. First, she ingrained in me the best flavors of home: Sta. Maria Bulacan’s chicharon, sinampalukan, embotido, monghe, achara. Then we traveled the world for food: she was my date in … [Read more...] about A mother’s legacy of love
Reflections on Marcos’ 1st 6 months
ILLUSTRATION BY ALBERT RODRIGUEZ It’s been six months since President Marcos was sworn into office. If we liken Mr. Marcos’ six-year term to the well-loved game of basketball, we are now in the second half of the first of six games. The first half of Game 1 was filled with many challenges. A Pulse Asia survey last September 2022 showed that the top concerns of Filipinos are controlling inflation, increasing the pay of workers and creating more jobs. Unfortunately, these continue to burden Filipinos into halftime of Game 1. Before the first “game” ends on June 30, 2023, we’d like to share some of the administration’s notable wins during its first six months and some reflections on how to sustain the fight against these challenges. Wins First among Mr. Marcos’ wins is the appointment of credible and experienced economic managers. This means that we have a strong team to overcome the pandemic’s lingering effects on the economy. Second, several executive actions were made … [Read more...] about Reflections on Marcos’ 1st 6 months
Vivek Bajaj points at role of high-frequency trading algos in Adani stock slump
HFT algos have changed dynamics in the stock market in fact over the past few years High-frequency trading (HFT) algos also play a part in any steep fall in stocks, reminded businessman and social-media personality Vivek Bajaj, in a video titled “Adani Adani Mat Khelo”. HFT algos run on powerful systems and they execute trades at lightning speeds. These ‘algos’, as they are known in common parlance, have been gaining dominance in the market over the past four or five years. Also read: Rise of the machines|HFTs make a killing on the Street The co-founder of StockEdge and Kredent Infoedge, Bajaj was talking in the context of Adani stocks falling sharply. A day ago, seven of the group’s stocks were trading in the lower circuit. In the video, Bajaj said that he wasn’t speaking for or against the group stocks, but was simply asking people to think for themselves and not fall for any narrative. “Inside market there are algos, they watch prices very closely. When prices … [Read more...] about Vivek Bajaj points at role of high-frequency trading algos in Adani stock slump
Marcos admin OKs 1st PPP project: P6-B UP-PGH Cancer Center
The National Economic and Development Authority (Neda) board on Thursday approved the establishment of the University of the Philippines General Hospital (UP-PGH) Cancer Center, the first public-private partnership (PPP) project under the Marcos administration. Presidential Communications Secretary Cheloy Velicaria-Garafil said the Neda board, chaired by President Marcos, approved the construction of a P6-billion, 300-bed capacity hospital. “The project aims to establish UP-PGH’s dedicated cancer hospital that will modernize its health infrastructure and offer comprehensive, high-quality, and affordable oncology services towards enhancing the country’s health service quality and capacity for cancer care,” Garafil said in a statement. The Cancer Center, with an area of 3,000 square meters, will be located within the UP-PGH campus in Manila. The entire building will have a capacity of 300 beds (150 charity beds for the UP-PGH Area and 150 private beds for the private area), 15 to … [Read more...] about Marcos admin OKs 1st PPP project: P6-B UP-PGH Cancer Center
Senate sensitivity to social justice
In the deliberations on the ratification of the Regional Comprehensive Economic Partnership (RCEP), the Senate must be sensitive to the social justice call of our neglected and suffering farmers and fisherfolk. Investopedia states: “Social justice refers to the fair division of resources, opportunities and privileges in society.” Though many say that RCEP is beneficial to the industry and services sectors, a press statement signed by 125 organizations released last Feb. 1 argue that RCEP is very damaging to the agriculture sector. Action supporting social justice must therefore be taken. Trade deficit Our agriculture imports exceeded our exports by $8.9 billion in 2021, higher by 39 percent compared to 2020. According to the Jan. 4 report of the Philippine Statistics Authority (PSA), the deficit for the third quarter of 2022 was $3.3 billion, a 40-percent further increase from 2021. Dr. Rashmi Banga predicts that with RCEP, “the Philippines will see an increase in imports and a … [Read more...] about Senate sensitivity to social justice
Sy, Musk venture to finally offer internet services in PH by March
Sy-backed Data Lake Inc. and SpaceX’s Starlink—owned by tech mogul Elon Musk—are set to offer satellite-based internet services in the country by the first quarter after facing delays. In a statement on Friday, the local data company owned by businessmen Henry Sy Jr. and Anthony Almeda said they had met with President Ferdinand Marcos Jr. to tackle the expedited entry of the SpaceX unit as an internet service provider (ISP) in the country. “We are excited to finally introduce Starlink to the Philippine market by first quarter of 2023. The high speed, low latency broadband internet service through the use of satellites will be game changing in connecting our 7,640 islands to the rest of the world,” said Almeda, Data Lake vice chair and CEO. Starlink faced delays in the production and deployment of its low earth orbit satellites, prompting to push its entry in the country to this year from the initial plan of December 2022. Last year, Data Lake inked an agreement with SpaceX, … [Read more...] about Sy, Musk venture to finally offer internet services in PH by March
Food inflation still a problem globally, says UN report
Food inflation remains a problem for both national governments and households across the world as the factors that caused fast-rising prices last year, such as Russia’s invasion of Ukraine, are still influencing the world market, according to the United Nations (UN). In their latest monthly report, the Agricultural Market Information System (Amis) which is administered by the UN’s Food and Agriculture Organization, said the decrease in world market prices of staple foods during the second half of 2022 has, at best, slowed domestic food price inflation, which remains stubbornly high in most parts of the world. “Food affordability thus remains a challenge at both the macroeconomic level (countries’ ability to pay their food import bills) and at the household level (increased prices in local currency for imported food and energy),” the Amis said. Overall inflation in the Philippines has risen—largely on account of food and energy items—from 3 percent in March to 8.1 percent in … [Read more...] about Food inflation still a problem globally, says UN report
PH garments exporters to make fresh pitch to Japan
A trade group of local exporters of garments and hard goods such as furniture and footwear is set to promote Philippine-made products to Japanese buyers during the official visit of President Marcos Jr. to Japan next week, aiming to recapture a market worth about $250 million a year. Foreign Buyers Association of the Philippines (Fobap) president Robert Young told the Inquirer that he would be joining the Philippine leader’s trade delegation in Tokyo, where he is set to make a pitch to Japanese firms. “Our biggest buyer then was Yasuda, [which is] now buying from Thailand, India, Vietnam, and China,” said Young, referring to the Yasuda Co Ltd, whose businesses include the wholesale distribution of men’s and boys’ apparel and furnishings. Young said he would tackle the business-to-business aspects in the garments, apparel as well as furniture sectors during the trade mission. The Fobap official recalls that the Philippines used to ship at least one 40-foot container full of … [Read more...] about PH garments exporters to make fresh pitch to Japan
Landers to locate in Ayala Land Estates’ three prime sites
Written by: Amy R. Remo An upscale membership superstore is rising in three prime integrated estates, where it is set to become a promising complement to these fast-growing, dynamic communities in the south. The construction of of Landers’ branch in Arca South estate is in full swing. Landers Superstore signed an agreement with AyalaLand Estates to open new branches in Nuvali in Sta. Rosa, Laguna, Arca South in Taguig City, and Vermosa in Cavite. This expansion comes at a most opportune time as Landers Superstore will help provide for the growing needs of the communities within these progressive locales. From left to right: SoutheastAsia Retail, Inc. COO Pieter Lukman, SoutheastAsia Retail, Inc. chairman Atty. Lowell Yu, Ayala Land SVP and estate group head Robert Lao, Ayala Land Estates Sr. estate development head Cris Zuluaga Expanding in prime locations “We are thankful and fortunate to be able to operate in prime locations within these Ayala Land estates … [Read more...] about Landers to locate in Ayala Land Estates’ three prime sites
PSEi again reclaims 7,000 in dizzying end to the week
Philippine stocks ended a roller-coaster of a week in the green on the recovery of property heavyweights such as Megaworld Corp. and SM Prime Holdings. The benchmark Philippine Stock Exchange index (PSEi) rose 0.59 percent, or 41.19 points, to 7,027.38 while the broader All Shares index added 0.59 percent, or 21.68 points, to 3,705.46. The PSEi seesawed between gains and losses during the last three sessions, reclaiming the key 7,000 level on Friday. Analysts said volatile movements were partly due to the PSE rebalancing, which takes effect on Feb. 6. DMCI Holdings Inc. and Union Bank of the Philippines will join the 30-member PSEi on that date, replacing Megaworld and Robinsons Land Corp. The tweaks also realigned foreign funds, which helped spur trading activity involving 1.89 billion shares valued at P20.12 billion. Foreigners were net buyers of an amount totaling P351.51 million on Friday, stock exchange data showed. The property subsector climbed 2.42 percent, … [Read more...] about PSEi again reclaims 7,000 in dizzying end to the week