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MANILA –PLDT Inc. saw its net income plunge by 60 percent to P10.49 billion last year after incurring a P48-billion budget overrun, which the telecom giant attributed to “over orders” of 5G technology. Total revenues, meanwhile, were up 6 percent to P205.25 billion for the period. Service revenues climbed by 4 percent to all-time high P190.1 billion last year. “We are looking to increase our revenues by mid-single digit and capital expenditure will recalibrate to between P80 billion and 85 billion,” PLDT president and CEO Al Panlilio said. Capital expenditure amounted to P96.8 billion last year. “Despite the adversities, I remain convinced that PLDT will not only survive but thrive; our core business is strong and our people endured, inspired by our singular mission of safeguarding and enhancing shareholder value,” PLDT chair Manuel V. Pangilinan added. In the meantime, the telco maintains that no fraud or bad faith was involved in its P48-billion budget overrun that dragged … [Read more...] about PLDT 2022 net income down 60%

Gen. Rodolfo Azurin Jr., PNP chief.. (Photo from the Facebook page of the Office of the Chief PNP) Update MANILA, Philippines — General Rodolfo Azurin Jr., chief of the Philippine National Police and one of the high-ranking officers who filed his courtesy resignation, will head the five-member committee created to do the first layer of examination on the PNP’s top echelon. Interior Secretary Benjamin Abalos Jr. revealed Azurin’s name on Wednesday, as well as the two other members of the panel – former Defense Secretary Gilbert Teodoro Jr. and retired police general Isagani Nerez. READ: PNP chief Azurin not spared from courtesy resignation — Abalos They will be joining Baguio City Mayor Benjamin Magalong , who was the first member of the panel to be announced. “Ito iyong maibibigay kong pangalan. Kamukha nang sinabi ko, iyong panglima ay ayaw muna ipasabi ang kaniyang pangalan kaya ito’y pag-uusapan namin how to go about with this,” Abalos said in a press briefing at … [Read more...] about Azurin to ‘steer’ panel reviewing PNP top brass, says Abalos

An immigration lawyer tweeted that a child allegedly died in a Texas Immigration and Customs Enforcement (ICE) facility, but officials said those claims were false Wednesday. “There are reports that a child died in ICE custody in Dilley, Texas,” Houston immigration lawyer Mana Yegani tweeted Tuesday, according to Heavy. “Getting more information as the story develops. It’s unclear where the parent(s) of the child is. Some reports indicate that they maybe in New Jersey while child was in Texas.” Yegani updated the tweet a few hours later and claimed the child died. “Update: The child died following her stay at an ICE Detention Center, as a result of possible negligent care and a respiratory illness she contracted from one of the other children. The events took place in Dilley Family Detention Center in south Texas,” the second tweet said. ICE said the claims were false on Wednesday through Twitter. (RELATED: Illegal Immigrant Separated From Child With Down Syndrome, … [Read more...] about ICE Says Reports About Child Dying In Texas Facility Are False

Share to Twitter Share to Linkedin Tencent Holdings is back growing again, after two quarters of falling revenue, but cofounder and billionaire Pony Ma still wants the company to pursue cost-cutting measures and improve efficiencies. The 51-year-old Ma, who is currently the country’s third richest man, saw his wealth shoot up by $3.7 billion to $39.3 billion on Thursday, after the WeChat operator on Wednesday reported a slim 0.5% revenue gain to $20.8 billion for the last three months of 2022. Shares of the Hong Kong-listed firm surged 8.2% as investors are hopeful about the outlook for advertising and international games expansion as future growth drivers. Bu Ma appears to be only cautiously optimistic about growth. In the mogul’s once-in-a-year address with media discussing Tencent’s performance, he said the tech behemoth would keep following the direction of improving efficiency and cutting costs. “The goal is to get rid of the fat, and build up the … [Read more...] about After Eking Out Small Revenue Growth, Billionaire Pony Ma Says Tencent Will Keep Cost-Cutting Measures

Share to Twitter Share to Linkedin One of the leading healthcare institutions in Latin America, Albert Einstein Hospital is moving toward the next stage in its multimillion-dollar technology and innovation development strategy. The aim is to broaden access to advanced medicine in Brazil through initiatives with actors such as startups as well as tech and healthcare organizations worldwide. Founded in São Paulo by the city's Jewish community following World War II, The Albert Einstein Israelite Hospital started its activities in 1955. Considered Latin America's most modern private hospital, it also has a social assistance program encompassing care in low-income communities and public-private partnerships for public hospitals. With nearly 25,000 staff including over 10,000 registered doctors, the hospital specializes in high-complexity medicine, focusing on cardiology, oncology, orthopedics, neurology, and surgery, and frequently ranks among the best medical … [Read more...] about Brazil’s Albert Einstein Hospital Evolves Tech Strategy To Deliver Low-Cost Healthcare At Scale

Share to Twitter Share to Linkedin Topline Amid growing global concern over the social media platform, TikTok CEO Shou Zi Chew will testify before the House Energy and Commerce Committee Thursday, where U.S. lawmakers are expected to question Chew over safety concerns for minors and preventing U.S. user data from foreign access. Key Facts In Chew’s first appearance before Congress, he’s expected to discuss the company’s privacy and data security practices, as well as the company’s relationship with the Chinese government, which has come under increased scrutiny in recent months. Prepared Remarks Chair Rodgers, Ranking Member Pallone, and Members of the Committee: Thank you for the opportunity to appear before you today to talk about TikTok and our mission to inspire creativity and bring joy to more than 1 billion people worldwide. I look forward to discussing what makes TikTok so special to the diverse audiences it serves, as well as our … [Read more...] about TikTok CEO Shou Zi Chew’s Prepared Comments Before Congress

A U.S. ban on the world’s most popular social media app would affect far more American businesses and people than just the 150 million using the platform here. C asey Evertsen drove down a suburban Utah street lined with trash bins, speaking into his phone’s camera as he gave a tour of the brightly-colored truck he uses for his garbage can-cleaning business. “If you like seeing dirty stuff get cleaned and watching how cool stuff works, follow along,” he said in the video shared on TikTok. “Let’s clean some bins!” Evertsen’s service, Bin Blasters , had for a whole year struggled to get traction through Facebook and Instagram. So taking a cue from his teenage daughter, he decided to try promoting it on TikTok instead. On his eighth video, just one month in, Evertsen “blew up.” "I went out and just started cleaning bins that day, started on our route, and I look at my phone like an hour later, and there's 17,000 views,” he recalled. “Then it just got in the millions.” … [Read more...] about How A TikTok Ban Would Deal A Blow To Creators, Businesses And The American Economy

Share to Twitter Share to Linkedin People often ask me, “what is Web3?” My short answer, which I elaborate on in my ‘What The Zuck’ article and keynotes , is always—you are! Why? Because the promise of Web3 flips the ownership model and gives the money and the power back to you. Social media has deteriorated in many countries—especially for women—and the tech. and media oligopolists love it. These media landlords like TikTok, Facebook, Instagram, Google, Twitter, Apple, et al. have taken control of everything we do, say, share, post and buy online—and they are not very excited about the changes Web3 can usher in to their market. Want proof? While Tik Tok’s CEO, Shou Chew, was grilled by U.S. lawmakers in Washington today—last week at SXSW, his former product head admitted this about creators: “Platforms don’t really care if you are successful…because their metrics are 100 percent focused on retention, publish rates, active days. Monetization of … [Read more...] about Web3 Rebels Vs. Tech. Oligopolies

A rare peek inside their agricultural empire shows how Stewart and Lynda Resnick are going all-in on the innovative citrus fruit. By Chloe Sorvino , Forbes Staff On a sunny 58-degree day in Delano, California, Zak Laffite walks through groves of trees where he grows a special kind of lemon, and then stops to explain how harvest works. “What we want is the tree to justify how much fruit comes off,” Laffite says. “We don’t want it all to come off at the same time. We basically say, just give me a little bit.”Laffite picks off a lemon. He quickly takes a knife from his pocket and slices open the fruit to reveal the inside: no seeds, with a thin white rim around the edge and a light yellow rind . “We’ll come in here and if the fruit’s this size, it’s ready to come off. If it’s colored up, we’ll get it as well,” Laffite says. That first pick will leave two-thirds of the lemons still on the trees. More lemons are picked off in a couple weeks. Then there’s a third round. … [Read more...] about Seedless Lemons Are The Next Big Bet From The Billionaires Behind Halos, Pom Wonderful And Fiji Water

Share to Twitter Share to Linkedin The electric car revolution in Europe requires a swift change of gear if it is to move from a well-heeled, early-adopters' niche to the mass market. European manufacturers still haven’t got the memo; small is beautiful. If this fails, the ramifications will be political as well as economic. Consumers will have to accept that electric cars, even expensive ones, have serious range limitations. Long trips with the family to southern Spain or Italy for the summer holidays using fast motorways are no problems for an internal combustion engine (ICE). But range anxiety from fast-but-legal motorway driving and poor charging facilities present big hurdles for electric vehicles. Given that 90% of motoring is never much more than 30 miles a day anyway, everyday use won't be much of a problem. You can always hire a diesel for those annual trips to the sun or weekend jaunts. Or take the train. Current electric technology produces, … [Read more...] about Troubles Loom If Europeans Are Denied Cheap Electric Cars