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Bird's-eye view of Saemangeum economic zone where SK On will build a new plant [Saemangeum Development and Investment Agency] Korean battery maker SK On will build a 1.21 trillion-won ($945 million) manufacturing facility on the country's southwest coast in a joint project with local materials producer EcoPro and China's Green Eco-Manufacture (GEM). Under an agreement due to be signed Friday, the three companies plan to spend up to 1.21 trillion won for what will be their second joint venture to construct a plant for precursor, key materials used in electric vehicle battery. The precursor plant, to be located in Saemangeum, a reclaimed area on the country's southwest coast, aims for an annual production capacity of 50,000 tons, equivalent to powering about 300,000 electric vehicles. Construction is set to be completed in 2024. The trio of companies signed in November last year their first venture deal to build a facility in Indonesia to produce mixed hydroxide precipitate … [Read more...] about SK On to build $945 million precursor plant in joint venture

A monk, a composer, and an industrial designer walk into a bar. No, I’m not making a joke. I’m simply imagining a hypothetical scenario where the cofounders of Headspace, Pandora, and Airbnb decide to meet up for drinks. You may think these figures represent a lonely cohort within tech entrepreneurship. We’re often confronted with the tired (and, as the data shows, largely inaccurate) stereotype of the algorithm-crunching, code-wrangling, Patagonia-wearing startup founder. These characters —who undeniably exist, but are more marginal than perhaps realized—effortlessly straddle the worlds of engineering and business. They’re the full package. Admittedly, these characters also tend to be the most visible. Elon Musk, Bill Gates, Mark Zuckerberg, and Mark Andreessen all have storied engineering careers—and often complex personal and professional lives that inevitably work their way into popular culture. But when we examine the data, we see a different picture. Rather than … [Read more...] about POV: Tomorrow’s founders can’t code—and that’s OK

Senator Grace Poe MANILA, Philippines — The executive order from President Ferdinand “Bongbong” Marcos Jr. on the creation of Water Resource Management Office (WRMO) is a “timely intervention” that will boost action to address the rising water stress in the country, said Senator Grace Poe. Marcos earlier said that his directive for the establishment of WRMO had already been signed and would soon be released for implementation. Poe, chair of the upper chamber’s panel on public services, welcomed the move on Thursday as she noted that bills seeking a more integrated water policy in the country are still being deliberated upon in Congress. “This is a timely intervention from the executive branch which will hopefully alleviate the creeping water crisis in the country,” she said in a statement. The legislator lamented the irony of the Philippines being plagued by a water crisis despite being an archipelago – all because of “fragmented resource management.” “We expect that this … [Read more...] about Poe: Marcos order creating water management office a ‘timely intervention’

The Bantay Dagat (Sea Patrol) reported on Thursday, March 23, 2023, to the Calapan Fishery Management Office (FMO) sighting of oil slick in the Harka Piloto sanctuary in Calapan City, Oriental Mindoro. Photo courtesy of Bantay Dagat thru FMO CITY OF CALAPAN — The oil slick from the sunken MT Princess Empress reached on Thursday afternoon the Harka Piloto fish sanctuary in Barangay Lazareto in this city, according to reports received by the Calapan Fishery and Management Office (FMO). Photos of the oil slick taken by Bantay Dagat (sea patrol) were given to FMO when it was seen around 1 p.m. Harka Piloto is along the Verde Island Passage, where the world’s most critical marine biodiversity center is found, said Marius Panahon, aquaculturist at Calapan FMO, in an interview. As a marine-protected area, the Harka Piloto Fish Sanctuary is being protected actively by the community and the local government. A cleanup was immediately launched to remove the oil from its waters and … [Read more...] about Oil slick from sunken vessel reaches fish sanctuary in Calapan City

TRANSPARENCY POLICY President Duterte signs an executive order laying down his administration’s policy of full public disclosure and transparency in public service, but it does not cover the legislature, judiciary and even local governments. —MALACAÑANG PHOTO President Rodrigo Duterte’s issuance of an executive order on freedom of information (FOI) was a much-lauded move and a step in the right direction, but it has had “unintended consequences” that have not always led to greater transparency. Executive Order No. 2, signed on July 23, 2016, and implemented for about seven months now, has laid down a policy of full public disclosure and transparency in public service to promote accountability, and sets the guidelines for requesting and releasing information from offices under the executive branch. Subsequent issuances laid down exceptions to transparency and the administrative penalties for government officers who would not abide by these. Congress, LGUs not covered The … [Read more...] about Duterte’s FOI order leads to ‘unintended consequences’

INQUIRER FILE PHOTO LUCENA CITY — Police arrested on Wednesday a “high-value” target and an alleged member of a drug syndicate in Rosario town in Cavite province. Anti-illegal drugs operatives collared around 9 p.m. Mark Vincent Holasca, 24, in a buy-bust operation in Barangay Sapa 2, Cavite police said in a March 24 report. Authorities seized from Holasca, an alleged member of the “Dela Cruz drug group” operating in the province, three sachets of shabu (crystal meth) with a street value of P3,500. The suspect is also classified as ar “high-value individual” in the local drug scene. The suspect was detained and faces charges of violating the Comprehensive Dangerous Drugs Act of 2002. RELATED STORIES Cavite cops nab 15 drug suspects, seize P836,000 shabu 8 suspects yield shabu, gun in Cavite drug busts | Inquirer News 3 drug traffickers busted in Cavite; P1.3M shabu seized lzb Your subscription could not be saved. Please try again. … [Read more...] about Alleged drug group member busted in Cavite

In this file photo taken on May 12, 2020 Healthcare workers wait for patients to be tested at a walk-in Covid-19 testing site in Arlington, Virginia. AFP WASHINGTON — With US Covid-19 deaths averaging 500 a day, down from a peak of more than 3,000 two years ago, the White House plans to end national and public health emergencies on May 11. A public health emergency in response to the pandemic was declared under former president Donald Trump in January 2020 and has been renewed every 90 days since then. Trump declared a national emergency in March 2020 and it was renewed by President Joe Biden. More than 1.1 million Americans have died of Covid — but life has been gradually returning to normal as the pandemic eases and vaccination levels approach 70 percent of the population. A lifting of the national and public health emergencies will have a number of impacts: Why May 11? The Biden administration announced the May 11 date in response to an attempt by Republicans in … [Read more...] about US to lift COVID-19 emergencies – what happens next?

ROUND AND ROUND The Michelin-starred restaurant Costes moves into the famous Budapest Eye ferris wheel amid the continuing threat of the coronavirus pandemic. —REUTERS BUDAPEST—Hit by a plunge in turnover after foreign tourists vanished, Michelin-starred Hungarian restaurant Costes has staged a skyline dining event on the Budapest Eye ferris wheel to generate sales in a coronavirus-proof environment. Costes owner Karoly Gerendai said turnover at one of his reopened restaurants was down to about a tenth of prelockdown levels, forcing him to look for new ways to do business. “Now that there are not many people either on the wheel or in the restaurant because there are no tourists, the opportunity arose that we could do this,” he said of the event at the landmark attraction in central Budapest. “It is now especially important for people to be able to be separate from other guests to be safe, and the ferris wheel is ideal with its separate cabins.” As of Sunday, Hungary had … [Read more...] about Hungarian restaurant serves on ferris wheel

With the onset of La Niña, we cannot just wait for legislation to solve our water problems. During his State of the Nation Address, President Marcos announced the creation of a Department of Water Resources as a key legislative measure. Since it is uncertain when Congress will act upon it, we must take action now. Water is a prerequisite for sustainable development. Last Sept. 7 during the general assembly of the Sustainable Development Solutions Network (SDSN), leadership council member Alyansa Agrikultura brought up the need for coordination among 32 water-related agencies in government. What went before? In 2018, a joint legislative-executive private sector committee was formed to address the water crisis. The Asian Development Bank (ADB) had placed the Philippines at the bottom third of 48 countries in terms of water governance. As the committee’s private sector secretary general, I followed the guidance of University of the Philippines Los Baños (UPLB) Water Center chair … [Read more...] about What the PH needs now to solve a water crisis

The Evergrande Center of China Evergrande Group is seen in Shanghai, China Sept 24, 2021. REUTERS/Aly Song HONG KONG  -China Evergrande Group’s debt restructuring proposal, a test of investor sentiment toward the battered property sector, failed to impress because of its long repayment period and lack of enough sweeteners, creditors and analysts said. Evergrande is the world’s most indebted developer with about $300 billion in liabilities. Its debt restructuring, the country’s biggest such exercise, is aimed at saving it from a disorderly collapse. The developer has $22.7 billion of offshore debt, all of which is deemed to be in default. The plan provided two main options to its dollar bondholders to recoup their investments. Creditors can either swap all of their holdings into new notes with maturities of 10 to 12 years, or convert them into different combinations of new notes with tenors of five to nine years and equity-linked instruments. Bondholders of notes issued by … [Read more...] about Evergrande debt revamp plan fails to cheer investors, property stocks fall