The Apple logo hangs in a glass enclosure above the 5th Ave Apple Store in New York, Sept. 20, 2012. — REUTERS
APPLE will host its annual fall event on Sept. 9, according to an invite on Tuesday, where the company is expected to unveil new iPhones, watches and other devices.
The event will be held at the Steve Jobs Theater at Apple’s headquarters in Cupertino, California and serve as a showcase of the company’s efforts to integrate artificial intelligence (AI) into its devices.
It will be closely watched by investors worried about the company ceding ground to faster-moving rivals in the race to deploy AI technology.
Media reports have said Apple will also unveil a slimmer version of its latest iPhone, possibly branded as the iPhone Air, echoing its iPad Air and MacBook Air lines.
The company is also expected to showcase new entry-level, high-end Apple Watches, upgraded iPad Pros and a faster version of the Vision Pro headset, Bloomberg News has reported recently.
Under pressure from the Donald J. Trump administration, Apple has boosted its already hefty investment in the US to $600 billion over the next four years, creating jobs and shifting some work there in the hopes of sidestepping potential import duties.
Apple faces pressure from tariffs imposed on US imports from countries including its production hubs, China and India.
In June, Apple announced a slew of AI and software features, along with an overhaul of its operating system — redesigning its icons and menu to resemble what it calls “liquid glass.”
However, Apple’s delay in embracing the AI market has left it trailing Big Tech stalwarts. Smartphone maker Samsung and Chinese firms Honor and Huawei have taken advantage of the gap Apple left in the industry, luring customers with their own AI offerings. — Reuters
GENDER ROLES can be a touchy topic. Are they culturally based? Is the assignment of tasks and values determined by social norms and traditions that differ from one culture to another? Or one couple to another, even in the same culture?
Political correctness has brought risks to those proffering opinions about gender roles. Even partnerships are being redefined and no longer limited to the traditional roles of men and women. (Let’s stop there.)
A fight with women regarding male opinions, especially when perceived as chauvinistic rubbish, is impossible to win. In designating roles for women and men, we offer these personal observations. Note that this is an individual person’s view which may not be shared by others. (Let me concede here right away.)
Here are some observations of roles being assigned.
When waiting for a table in an extremely popular restaurant, it is the female who is expected to talk to the receptionist to check the assigned number in the waiting line. Her man goes over the menu and makes the selection, as now and then he nudges his female partner to check if the waiting line has moved.
This queueing assignment involves making sure that no other group jumps the line. (Hey, can you check if that party smirking and looking around furtively came ahead of us?) Are there separate queueing rules for seniors?
Both men and women do groceries. They may go to different sections. Men sometimes just make a list of what they need. (Don’t forget my chocolate chip cookies.)
Men pay the credit card bills for joint accounts used for household expenses and impulse buying of sneakers.
Searching for missing socks, receipts, legal documents (except the will), contact number of the dentist is delegated to the keeper of the files, usually the woman of the house who is more organized. There will always be misplaced items. There’s the option to check the safe deposit box at the bank. (I now know how Hemingway felt when his manuscript was inadvertently left behind and lost.)
Cleaning up the clutter is theoretically a joint operation. Still, the clutter maker with unworn swimming trunks, goggles, and now too-tight sneakers is usually the man who is more prone to impulse shopping — why do you need another leather jacket?
Even when they don’t cook, women still plan the menu. It is the prerogative of the male to give food reviews of what is served. Dietary restrictions are jointly considered. Against the commonsense suggestion that he should specify what he wants for dinner before going off to work, the male can be responsive. (I’m okay with pig’s knuckles with bratwurst.)
Making travel arrangements, especially if these involve the use of frequent flyer credits and booking airline tickets and hotel reservations online are a woman’s work. (She has the passports.) This does not preclude the male from giving suggestions on the itinerary — get a hotel near a mall.
Men have taken on the chore of buying books, jackets, and hats. Anyway, books are now bought online without a physical copy that will just add to the clutter of what used to be called the library in the architectural drawing.
With the two-paycheck family becoming the norm, the female can combine earning power with household chores. The designation of “Dual Income, No Kids Yet” (Referred to as DINKY) has different role assignments for finances.
We see a time, not too far off, when in the case of our crowded restaurant above; it may still be the female having her party listed in the waiting line. But now it may be the male who heckles the receptionist for the vacated table he is protecting from an aggressive senior female interloper jumping the line.
The roles described here present one man’s point of view.
With variations in partnerships including blended families and empty nests, role-playing can be confusing. And the acceptance of assigned roles may no longer be prescribed. Partnerships too have been transformed by varying gender mixes, and even surgeries.
Will traditional roles become obsolete? The male as hunter-gatherer, with the female staying home with the children, may already be passe. Anyway, roles are no longer fixed. It’s back to every man (or woman) for himself (or herself). Loud noises from arguments are sure to follow.
CITYLAND DEVELOPMENT Corp. (CDC) will merge with its listed subsidiary City & Land Developers, Inc. (LAND), with CDC as the surviving entity, in a move to streamline operations across the two real estate firms.
CDC said in a regulatory filing on Wednesday that its board approved the merger with LAND on Aug. 26.
In a separate disclosure, LAND said it will be delisted from the PSE and will cease to exist as a separate legal entity upon completion of the merger.
According to CDC, the merger will help streamline operations, eliminate duplicated functions, and achieve cost savings and other economic efficiencies.
“By consolidating the businesses under CDC as the surviving entity, the merger will allow for a simplified ownership structure, better operational coordination, enhanced business focus, and reduced overall corporate costs,” CDC said.
“The merger supports both companies’ strategic objectives to maximize stockholder value and strengthen the merged company’s position in the real estate industry by enabling it to better respond to market opportunities with greater financial and operational flexibility,” it added.
CDC will issue 1.39 billion primary common shares to LAND stockholders as consideration for the merger. LAND currently has 1.58 billion issued and outstanding common shares.
One LAND share will be equivalent to 0.88 CDC share, based on CDC’s preliminary review.
CDC will absorb all of LAND’s assets, liabilities, rights, privileges, and ongoing projects, ensuring continuity and full protection for creditors and stakeholders.
“This integration is anticipated to enhance operational scale, optimize cost management, and support sustainable long-term growth,” CDC said.
Meanwhile, CDC said there is no timetable yet for the implementation of the merger as it is still awaiting corporate and regulatory approvals, including from the Securities and Exchange Commission and the Philippine Competition Commission.
The merger is subject to the approval of the stockholders of both CDC and LAND during their respective stockholders’ meetings on Oct. 9 and Oct. 10, respectively.
CDC and LAND are both engaged in the development of land for residential, office, commercial, institutional, and industrial uses.
Some of CDC’s projects include the 50-story CityNorth Tower condominium in Quezon City and the 24-story Pioneer Heights 1 condominium in Mandaluyong City.
LAND’s projects include the 40-story One Hidalgo condominium in Malate and the 40-story One Taft Residences condominium in Taft.
On Wednesday, CDC shares rose 3.45% or two centavos to 60 centavos apiece, while LAND stocks gained 8.62% or five centavos to 63 centavos per share. — Revin Mikhael D. Ochave
UNIT investment trust funds (UITF) issued domestically that have placements in foreign securities or funds can be accredited as Personal Equity and Retirement Account (PERA) investment products, the Bangko Sentral ng Pilipinas (BSP) said.
“The BSP clarifies that UITFs created or issued in the Philippines that may have underlying investments in foreign-issued securities or funds — such as global feeder funds or fund-of-funds — may qualify for accreditation as PERA Investment Products, subject to the existing approval process applicable to such structures,” the central bank said in a memo dated Aug. 20 signed by BSP Deputy Governor Lyn I. Javier.
The BSP said these kinds of funds can give PERA contributors more investment options.
“This, in turn, supports the capital market development objectives of the PERA Law by broadening the range of available instruments and providing additional diversification opportunities, thereby contributing to improved price formation and more efficient portfolio allocation,” the central bank said.
Launched in 2016, PERA is a voluntary fund scheme meant to supplement retirement benefits from the Government Service Insurance System or the Social Security System, as well as private employers.
Contributors aged 18 and above who have a tax identification number are allowed to open a PERA account. Self-employed and locally employed contributors can make an annual contribution of P200,000, while overseas Filipino workers can invest up to P400,000.
The PERA Law also offers incentives to contributors, such as tax exemptions and credits.
Accumulated PERA contributions climbed by 24% year on year to P491.4 million at end-2024 from P396.3 million in 2023, data from the BSP showed.
The total number of PERA contributors likewise rose by 6.4% to 5,912 at 2024’s close from 5,555 a year prior. —BVR
WASHINGTON — Cracker Barrel said on Tuesday that it will stick with its decades-old logo, scrapping plans for a new one following social media backlash, including from US President Donald J. Trump.
“We thank our guests for sharing your voices and love for Cracker Barrel. We said we would listen, and we have. Our new logo is going away and our ‘Old Timer’ will remain,” the company said in an X post.
Mr. Trump became the latest public figure to weigh in on Cracker Barrel’s decision to change its logo — which has become the latest flashpoint on social media — and sent the company into damage-control mode.
“Congratulations ‘Cracker Barrel’ on changing your logo back to what it was. All of your fans very much appreciate it,” Mr. Trump said on Truth Social after the company’s reversal.
The chain’s brief change in logo — removing the long-standing image of an overall-clad man known as “Uncle Herschel” leaning against a barrel — is the most recent in a series of dustups where an unexpected response has blindsided retail chains.
Anheuser-Busch’s Bud Light sales slumped after it sent a can of Bud Light to a transgender influencer in 2023, and this summer, an American Eagle Outfitters ad campaign featuring actress Sydney Sweeney sparked backlash for that ad’s use of the phrase “good jeans” as a play on genetics.
Mr. Trump on Tuesday joined a chorus of conservatives, including Donald Trump, Jr., who criticized the restaurant chain’s new logo that simply displays the chain’s name against a barrel-shaped yellow silhouette, removing “Uncle Herschel” in an ongoing effort to revamp its brand.
“Cracker Barrel should go back to the old logo, admit a mistake based on customer response (the ultimate Poll), and manage the company better than ever before,” he wrote on his social media platform. “Have a major News Conference today. Make Cracker Barrel a WINNER again.”
The company, in a Monday post on its website, had said its fans have shown them “that we could’ve done a better job sharing who we are and who we’ll always be.”
“While our logo and remodels may be making headlines, our bigger focus is still where it belongs… in the kitchen and on your plate,” said the Lebanon, Tennessee-based chain, which opened its first store in 1969.
Cracker Barrel’s shares slumped after the backlash last week, wiping out year-to-date gains, but were up 7% in extended trading on Tuesday after the company, with a market value of $1.29 billion, scrapped the new logo.
The stock has lost more than half its value in the last three years as the company’s sales have struggled to recover in the post-COVID pandemic period.
The stock swings wildly at times, as it has a high level of short interest. The company also has a relatively small number of outstanding shares. — Reuters
The Philippines ranked 124th out of 204 countries and jurisdictions in the inaugural Nomad Capitalist Freedom Index by tax and immigration consultancy Nomad Capitalist. The country scored 28.5 out of 50. The index measures freedom based on five factors: financial freedom, asset protection, human rights, safety, and quality of life.
STOCKS rebounded on Wednesday on bargain hunting before the Bangko Sentral ng Pilipinas’ (BSP) widely expected rate cut on Thursday.
The bellwether Philippine Stock Exchange index (PSEi) jumped by 2.08% or 128.10 points to end at 6,273.34, while the broader all shares index went up by 1.26% or 46.52 points to close at 3,731.07.
“The local market bounced back this Wednesday fueled by bargain hunting. Hopes of a Bangko Sentral ng Pilipinas rate cut in their upcoming Monetary Board meeting this week also helped in the rebound,” Philstocks Financial Inc. Research Manager Japhet Louis O. Tantiangco said in a Viber message.
“The market saw buyers take charge today after yesterday’s dip,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message. “Investors likely viewed yesterday’s prices as a bargain buying opportunity, pushing prices and the market higher together with investors positioning for the upcoming BSP meeting.”
All 20 analysts in a BusinessWorld poll expect the Monetary Board to reduce the policy rate by 25 basis points (bp) to 5% at its meeting on Thursday.
This would be the BSP’s third consecutive 25-bp cut since April. It has lowered benchmark interest rates by a total of 125 bps since it began its easing cycle in August 2024.
BSP Governor Eli M. Remolona, Jr. earlier said a cut is “quite likely” at this week’s meeting and another reduction is also on the table for the remainder of the year as inflation is likely to stay within the 2-4% annual target.
After Thursday’s review, the Monetary Board’s remaining meetings for this year are scheduled for Oct. 9 and Dec. 11.
Inflation sharply eased to a near six-year low of 0.9% in July from 1.4% in June, bringing the seven-month average to 1.7%, a tad higher than the central bank’s 1.6% forecast but below its 2-4% target.
Almost all sectoral indices closed in the green on Wednesday. Services surged by 3.96% or 85.37 points to 2,237.06; financials jumped by 3.52% or 72.41 points to 2,124.81; property increased by 2.71% or 66.15 points to 2,504.18; mining and oil climbed by 2.41% or 231.08 points to 9,819.82; and industrials rose by 0.32% or 29.84 points to 9,133.01.
Meanwhile, holding firms dropped by 0.51% or 26.76 points to 5,157.03.
“International Container Terminal Services, Inc. was the top index gainer, jumping 7.02% to P485. Aboitiz Equity Ventures, Inc. was the main index laggard, falling 3.4% to P29.80,” Mr. Tantiangco said.
Value turnover fell to P8.65 billion on Wednesday with 890.43 million shares traded from P14.32 billion with 1.55 billion shares exchanged on Tuesday.
Advancers bested decliners, 117 versus 100, while 39 names closed unchanged.
Net foreign selling decreased to P41.42 million on Wednesday from P2.04 billion on Tuesday. — Revin Mikhael D. Ochave
THE Board of Investments (BoI) approved P398.94 billion worth of investment pledges in the first seven months, equivalent to about 22% of its target for the year.
According to a Department of Trade and Industry (DTI) handout obtained by BusinessWorld, some 74.78% of the approvals are in the electricity and gas supply sector, valued at P298.33 billion.
Meanwhile, 8.21% were in the transportation and storage sector and 6.96% involved manufacturing projects.
Filipino investors accounted for P329.563 billion of the total pledges, with P69.38 billion sourced from foreigners.
Singapore was the top foreign source during the period, accounting for P57.41 billion.
The other top sources were the US and Spain, which accounted for P3.76 billion and P1.38 billion in investment pledges, respectively.
About P104.68 billion of the investments will go to the Bicol Region, while the other top destinations were the Calabarzon and Ilocos Regions.
For this year, the BoI has set an investment approvals target of P1.75 trillion, an 8% rise from the P1.62 trillion worth of approvals in 2024.
The BoI has so far endorsed 212 projects for green lane treatment valued at P5.915 trillion as of Aug. 15.
The list includes 164 projects in renewable energy worth P5.06 trillion and 34 digital infrastructure and public-private partnership projects worth P434.51 billion.
Six projects concerned food security valued at P66.96 billion and eight manufacturing, worth P352.13 billion.
In February 2023, the government established Executive Order No. 18, creating the “green lane” system at all government offices to expediting approvals and permits for strategic investments.
Meanwhile, Trade Secretary Ma. Cristina A. Roque said tariff negotiations with the US are still ongoing.
“There are always developments. So, we are just waiting for the final rates,” she said on the sidelines of the DTI budget hearing on Wednesday, referring to the proposed additional tariffs on countries that impose digital taxes.
“Of course, our negotiators are still continuing up to this day,” she added. — Justine Irish D. Tabile
THE Department of Transportation (DoTr) is allocating up to P835.9 million to upgrade airports in Busuanga, Palawan and Camiguin province.
In bid notices released on Wednesday, the DoTr is inviting interested parties to participate in the P661.38-million Busuanga Airport development project and the P174.60-million Camiguin Airport development project.
The DoTr said the Busuanga project covers the construction and paving of a new runway.
Interested parties will have until Sept. 15 to submit their bids, it said.
“Completion of the works is required within 420 calendar days, inclusive of pre-determined unworkable 30 days,” the DoTr said, noting that bidders should have completed similar projects to qualify in the bidding.
Busuanga Airport, also known as the Francisco B. Reyes airport, is the gateway to Coron, Palawan.
The DoTr allowed 180 calendar days to redevelop the airport at Camiguin, an island province off northern Mindanao, with works including the correction of the runway center slope profile.
Bidders also have until Sept. 15 to submit their proposals.
The DoTr last year said it is allocating P14 billion to fund the upgrade and development of regional airports amid growing demand for air travel. — Ashley Erika O. Jose
THE estimated onion import requirement for later in the year is about 50,000 metric tons (MT) for the red variety and 35,000 MT for the yellow variety, according to the Bureau of Plant Industry (BPI).
BPI Director Glenn Panganiban told BusinessWorld that the imports will help avert shortages, adding that import volumes will be finalized in October.
The BPI estimates the shortfall in domestic production as equivalent to three months’ supply for red onions and five months’ supply for yellow onions, he noted.
The government earlier allowed yellow onion imports of 25,000 MT.
“Depending on the estimates of our regional offices and monitors, ’yung ating kailangan lang ang dapat i-import plus or minus buffer (the import requirement will be tied to the actual shortfall and may include a buffer amount),” Mr. Panganiban said.
The national red onion inventory was 49,750 MT as of Aug. 15, equivalent to about 86 days’ demand, indicating that stocks will be sufficient until mid-November.
As of Aug. 15, yellow onion stocks hit 1,142 MT, with shipments of 6,140 MT of yellow onions incoming. — Kyle Aristophere T. Atienza
THE PHILIPPINES and Denmark are in talks for a possible financing agreement to support Danish investments, the Department of Finance (DoF) said on Wednesday.
“We covered important questions like a finance agreement between Denmark and the Philippines which will also help more investments from Denmark to the Philippines, creating jobs here,” Franz-Michael Skjold Mellbin, the Danish Ambassador to the Philippines, said.
This ambassador’s meeting with Finance Secretary Ralph G. Recto was detailed on the DoF social media account.
Denmark is a major exporter of pharmaceuticals, agricultural goods, and wind turbines.
The envoy also expressed support for a free trade agreement (FTA) between the European Union (EU) and the Philippines, for which a third round of negotiations recently concluded in Brussels. The next round of FTA negotiations is scheduled to take place in the Philippines in October.
“We are looking to extend with a free trade agreement between the European Union and the Philippines” Mr. Mellbin said.
“We are one of the largest investors in the country these years. We’re talking about $10 billion, it’s a huge investment.”
The FTA is expected to be the Philippines’ most comprehensive trade agreement, becoming the first to cover government procurement, digital trade, energy and raw materials, and trade and sustainable development.
In 2024, trade between the Philippines and the EU hit $15.5 billion, making the bloc the Philippines’ fifth-largest trading partner, accounting for 7.7% of total trade.
“Today, I could also tell Secretary Recto that fortunately the EU now has decided to take the Philippines off the EU blacklist for terror financing,” he said.
This delisting boosts investor confidence and lowers remittance costs for overseas Filipinos, he said.
On Aug. 5, the Philippines and seven other countries were removed from the list of countries deemed “high risk” for money laundering and terrorism financing. — Aubrey Rose A. Inosante
