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Dining In/Out (05/15/25)


Solaire Resort North marks its first year

SOLAIRE RESORT NORTH is celebrating its first anniversary, marking a year since its grand opening on May 25, 2024, with special dishes, treats, and a relaxing break throughout May. There is its First Anniversary Room Offer, which includes a staycation and a buffet breakfast for two at Fresh. The celebration weekend kicks off as international DJs Afrosideral and Hallex M bring beats to Skybar on May 24 and 25 from 10 p.m. to 1 a.m. Guests can then indulge in cocktails at Skybar during an exclusive bar takeover by mixologists Gab Figueroa and Lawrence Gabriel on May 25 from 6 p.m. to midnight. As for the restaurants, guests can enjoy special dishes which will be available on May 24 and 25 for P1 with a minimum spend of P525. These dishes are: a steak at Finestra, sisig at Manyaman, a milkshake at Trattoria e Dolci, a mini cake at the Lobby Lounge, and a dessert at Café Mangrove. Happier happy hours await during the anniversary weekend with unlimited drinks at the Pool Cafe on May 24 and the Dragon Bar on May 24 and 25. At Skybar, select guests will be treated to a complimentary Macallan shot. Lucky Noodles will offer a First Anniversary Meat Platter for P1,111 on May 25. At Yakumi, the Sunday Brunch on the same day features a live tuna cutting for the anniversary celebration. Guests can enjoy this for P3,588 with non-alcoholic beverages or P4,888 with alcohol. On June 7 and 8, Solaire Resort North presents “Finding Your North,” its first grand celebrations expo. This event brings together top-tier planners, creatives, and industry leaders in one place, helping visitors plan dream weddings, a milestone birthday, or an intimate gathering. For further details, visit sn.solaireresort.com/solaire-north-anniversary, call 8888-8888, or e-mail sn.reservations@solaireresort.com.


The Manila Hotel celebrates May

IN CELEBRATION of the colorful Pahiyas Festival, Café Ilang-Ilang pays tribute to Quezon Province. Ongoing until May 31, diners can indulge in a buffet featuring regional specialties such as Pako Salad, Hardinera, Lucban Longganisa, Kulawong Puso ng Saging, Adobo sa Puti, Pancit Habhab, Ginisang Santol, Nilupak, Kalamay, and Tayabas Bonete. These dishes, among others, will be served on rotation during the lunch and dinner buffet. Meanwhile, the Art Gallery bursts into bloom as renowned artist Manuel Baldemor returns with a floral-themed collection. Following his contemplative Kuwaresma series, Mr. Baldemor’s Flowers of May exhibit captures the joy and color of Flores de Mayo through vibrant depictions of flowers in his signature style. The exhibit runs until May 31. Admission is free. Spice up the season with a month-long Cinco de Mayo celebration. The Lobby Lounge and Tap Room serve up Mexican-inspired à la carte dishes including Mexican Grouper Ceviche, Pan Fried Beef Tortilla, Mexican Pizza, Grilled Mexican Chicken Burger, and Nachos and Dip. Tequila-based cocktails complete the celebration, available throughout the month of May. Satisfy sweet cravings and cool down with The Manila Hotel’s “summer delight” line-up of sweet treats such as Buko Halo Halo, Tropical Banana Split, Mango Delight, Minatamis na Saging and Mantecado Sorbetes, Kit Kat Crêpes, and Dreamy Drizzle (a decadent 10-scoop ice cream with assorted toppings such as barquillos and chocolate candies). Guests can also enjoy Korean-style Bingsu in Strawberry Cheesecake, Mango Graham, and Tiramisu, available at the Lobby Lounge and Pool Bar until May 31. To mark the traditional Dragon Boat Festival, Red Jade presents a limited-time selection of machang — glutinous rice wrapped in bamboo leaves and filled with flavorful ingredients. Options include Red Rice with Red Bean, Red Dates with Lotus Seed, Salted Egg with Pork and Mushroom, and Baby Abalone with Black Mushroom. Prices start at P200. These savory delicacies are available until the end of the month. For inquiries, call 8527-0011 or 5301-5500, e-mail info@themanilahotel.com, or visit www.manila-hotel.com.ph.


Kaokee launches Milo Dino Ice Cream Sandwich

KAOKEE has turning the Milo Dinosaur into another Singaporean street treat: an ice cream sandwich. It’s made with a block of vanilla ice cream on a slice of rainbow bread, with a heaping sprinkle of Milo powder on top. The Milo Dino Ice Cream Sandwich will be available at Kaokee Jupiter (located inside Belamy House on Jupiter Street, Makati City) and Kaokee Cornerhouse (at P. Guevarra corner Recto, San Juan City), for P220. Have it as a dessert after sampling Kaokee’s Singapore hawker-style cooking — from Hainanese Chicken, Hokkien Chicken, Claypot Rice, and Bak Kut Teh. To know more, follow Kaokee on Facebook and Instagram @kaokee.ph. For exclusive perks and deals, diners may sign up to become an McW Eats Member.

Asian Terminals Q1 profit jumps 86.62% to P1.4 billion

ASIANTERMINALS.COM.PH

ASIAN TERMINALS, Inc. (ATI) reported an 86.62% increase in attributable net income to P1.4 billion for the first quarter (Q1), driven by higher revenues resulting from volume growth at its key terminals.

Gross revenues rose by 36.6% to P4.74 billion in the January-to-March period from P3.47 billion a year earlier, as international container volumes continued to grow at its South Harbor and Batangas Container Terminal facilities.

ATI said revenues from South Harbor’s international containerized cargo increased by 40.6%, while revenues from Batangas Container Terminal climbed by 32.5%, both supported by higher container throughput.

However, the company noted that its Batangas operations saw lower revenues year on year due to a decline in domestic container volumes, roll-on/roll-off cargo, and passenger traffic during the quarter.

The government’s share of revenues surged by 50.63% to P908.3 million from P603 million last year.

ATI’s total expenses increased by 25.5% to P2.85 billion from P2.27 billion in the same period a year ago.

In March, ATI expanded its capacity at Manila South Harbor with the commissioning of two additional ship-to-shore (STS) cranes, aimed at improving handling capacity and operational efficiency.

These complement the terminal’s existing fleet of 11 STS cranes, rubber-tired gantries, and other cargo-handling equipment, aligned with its ongoing modernization efforts.

For full-year 2024, ATI handled nearly 1.6 million twenty-foot equivalent units (TEUs), reflecting a 4% increase from the previous year.

With recent infrastructure upgrades and new equipment deployment, ATI said it is now capable of handling close to 2 million TEUs annually.

On Wednesday, shares in ATI rose by 45 centavos, or 2.09%, to close at P21.95 each. — Ashley Erika O. Jose

Oona Insurance Philippines expects to achieve profitability next year

OONA Insular Insurance Corp. (Oona Insurance Philippines) expects to be profitable by next year as it sees its net earnings growing faster than its premium income on the back of its digital partnerships.

“I think it would suffice to say that if we grew anywhere below 30-35% (in premium income), that would be disappointing. So, this year, I think we’re beginning to see the fruits of our labor. All the partnerships we talked about, we’ve worked on for the last 18 months, and now, they’re beginning to bear fruit,” Oona Insurance Group Chief Executive Officer Abhishek Bhatia said at a media briefing on Wednesday.

“By the way, profitability will grow faster than [premium income],” he added.

Oona Insurance Philippines President and Chief Executive Officer Ninoy F. Rollan added that the company is aiming to grow its revenues to P2.5 billion this year.

The nonlife insurer booked a net loss of P205.94 million last year, narrowing from the P236.39-million loss it posted in 2023, latest Insurance Commission data showed. Meanwhile, premiums earned grew by 39.32% to P939.53 million in 2024 from P674.35 million in 2023.

Mr. Bhatia said their current partnerships utilize digital capabilities. “We’re maybe at 15 partners, at least, and these are all digitally and quasi-digital in nature.”

He added that the company sees the Philippines’ low insurance penetration rate as a growth opportunity.

“The penetration of insurance is still less than 2% because while people are spending a lot of time online, financial literacy is still low. The need to buy insurance by proactively going onto someone’s website is still not felt by the consumers. So, you need distribution partners who are able to approach them,” he said.

Oona Insurance Philippines is also planning to launch a health or medical product later this year as well as more offerings through its partnership with electronic wallet GCash.

“We think that on the retail side, whether it’s device protection, home protection, car protection, motorbikes, that’s going to go and expand by at least 10% or so year on year going forward. Then there are other opportunities in health,” Mr. Bhatia added. — A.M.C. Sy

Rethinking road pricing

JAMIE ZHANG-UNSPLASH

When Electronic Road Pricing (ERP) was first introduced in Singapore in 1998, the naive journalist that I was believed it would be a suitable intervention for Metro Manila. Congestion in high-traffic areas could be minimized if motorists were made to pay to use certain streets during specific hours.

ERP essentially turned Singapore’s regular roads into tollways, with pricing determined by congestion and time of use, rather than distance traveled. Fees were higher during peak hours. The system used gantries equipped with sensors at entry and exit points and automatically collected fees via in-vehicle units.

ERP is similar to the electronic toll collection system we have locally — except that in ERP, fees are charged for using public roads during peak hours. If applied to EDSA, for example, motorists would pay a fee for using the road during high-traffic times. Outside these hours, EDSA would remain toll-free.

For the sake of discussion, let’s use a base fee of P100 for all motorists using EDSA between 6-9 a.m. and 5-9 p.m. If traffic volume spikes by 7 a.m., the fee could increase to P200 to P300. During pricing hours, fees would be dynamic — rising or falling depending on traffic levels.

The idea is to discourage motorists from using EDSA during rush hour and to encourage them to take alternative routes. The goal is to decongest EDSA, which is the main artery for public transport and commuters using the train system. By setting different rates for private vehicles and public utility vehicles, ERP can also benefit public transportation.

To an extent, I believed ERP was a logical solution for EDSA. After all, it has worked well in Singapore (since 1998) and London (since 2003). Singapore is now transitioning to a next-generation, satellite-based ERP system that uses GPS to charge motorists more precisely, rather than relying solely on gantry sensors, as we do with our current tollways.

Singapore’s ERP system features dynamic pricing that varies by time, location, and traffic volume. It is fully automated, with no toll booths or barriers. Enforcement is seamless. Fees are reviewed regularly and adjusted based on real-time congestion data.

Available information indicates that ERP in Singapore led to a 30% reduction in traffic volumes in congested areas. Peak-hour travel speeds in the city center improved from 20 km/h to 30 km/h. Air quality improved due to fewer idling vehicles, and public transport usage increased. ERP fees also help fund public transport infrastructure and road maintenance.

In London, the congestion charge system has been in place since 2003. It uses a flat-rate model: the equivalent of about P1,100 per day per vehicle entering central London between 7 a.m. and 6 p.m. on weekdays. Cameras and license plate recognition systems monitor entry points. Emergency vehicles, taxis, electric vehicles, and persons with disabilities enjoy exemptions or reduced rates.

London has reportedly seen a 15% to 20% drop in traffic volumes within the charging zone, reduced congestion delays, improved air quality, and a rise in cycling and walking — especially after the addition of bike lanes and pedestrian zones. Most of the collected fees are reinvested in London’s transport system.

Stockholm (since 2006) and Milan (since 2012) have also implemented time-of-use pricing on city roads. Stockholm uses time-based pricing, while Milan combines time- and pollution-based pricing. Both cities have reported improvements in traffic flow and public health outcomes.

In January, New York City began charging drivers a $9 fee to enter Manhattan below 60th Street during peak hours, with reduced rates at other times. Early data shows a 13% drop in vehicle entries, shorter travel times, more people using public transit, and increased pedestrian activity. In just three months, the program collected around $160 million earmarked for transit upgrades.

However, in March, the US federal government revoked its prior approval of the NYC program, claiming it imposed financial hardship on working-class commuters. The programs also lacked toll-free alternatives for the public. The Metropolitan Transportation Authority (MTA) sued to challenge the decision, and the case is now pending in court.

I consider ERP a form of usage-based taxation. It taxes motorists for using a specific road at a specific time. This “usage tax” is conceptually similar to the excise taxes that Filipinos pay on gasoline, cars, jewelry, tobacco, and alcohol. The revenue collected can be earmarked for public transport infrastructure and road upkeep.

In Singapore and London and Stockholm, driver education is arguably more advanced than in the Philippines. Public infrastructure is better. Their mass transit systems — trains, subways, buses — are far more efficient. These cities have shown that congestion pricing works because of three things: effective public transport, transparent use of funds, and well-informed drivers and commuters.

More importantly, road pricing in these places perhaps does not significantly impact the cost of living. Here, the typical argument is: “We already paid taxes to build the roads — why pay again to use them?” An ERP here would add to the existing burden of taxes and fees already imposed on car owners.

Moreover, I reckon cities like Singapore, London, and Stockholm do better than us at planning and implementation. Their systems are relatively reliable. Their citizens are more accustomed to following rules. And they are ahead of us in fighting corruption. Most importantly, they have efficient, reliable, and comfortable public transport systems.

These, I believe, are the essential ingredients that made ERP a “success” in Singapore, London, Stockholm, Milan, and New York. That said, I understand the criticism that ERP could be financially burdensome for the working class, especially if toll-free alternatives aren’t available.

In EDSA’s case, I suspect congestion pricing would simply divert traffic to other roads, without significantly decongesting EDSA itself. Worse, the additional costs from ERP could be passed on to commuters as higher fares (except for trains) and higher vehicle operating costs.

Clearly, our public transport system still has major gaps. Only when we have efficient, affordable, and comfortable light rail and bus rapid transit options — especially on EDSA — will people willingly leave their cars at home. That’s when road pricing can genuinely work, with or without ERP.

For policymakers considering ERP for EDSA or other major Metro Manila roads, this effort must be part of a broader traffic management plan. ERP cannot be a one-off fix. It must complement plans to upgrade public transportation, modernize roads, automate traffic management, and reform vehicle taxes and registration policies.

Without these supporting elements, ERP will simply become another burden — an additional cost for private motorists and public utility vehicle operators. Worse, it may not solve congestion at all but merely redistribute it to surrounding streets.

The government cannot keep building more roads. Land is finite, and only so much can be allocated to road infrastructure. Vehicle ownership will continue to rise. Road pricing is only effective if implemented alongside a comprehensive suite of solutions to manage traffic and transportation demand.

As I’ve argued in previous columns: an efficient, comfortable, and cost-effective mass transit system remains the most viable solution to congestion. Without it, road pricing cannot be implemented fairly — or effectively. It shouldn’t be considered at all. Leave the fees to the tollways.

 

Marvin Tort is a former managing editor of BusinessWorld, and a former chairman of the Philippine Press Council

matort@yahoo.com

Personalized AI tools to help PHL businesses build consumer trust

FREEPIK

PHILIPPINE BUSINESSES must consider upgrading to personalized artificial intelligence (AI) tools from regular chatbots to better customize client experience and deepen consumer trust, according to global professional services company Accenture, Inc.

“Like any market or geography, being able to differentiate what you’re offering to a customer will allow businesses to be more targeted, will improve their conversion rates, and will help with customer loyalty,” Arvin V. Yason, innovation lead of Accenture Philippines, said on the sidelines of media briefing last week.

Citing the Accenture Technology Vision 2025 report, Mr. Yason said about 70% of executives in Association of Southeast Asian Nations (ASEAN) countries believe that chatbots are starting to sound the same and would need further differentiation.

“Leaders need to recognize that while there are early mover advantages for those adopting chatbots and agents right now, the benefits may fade as the customers become surrounded by agents that all look, talk and act the same,” he said.

Personified AI can carry a brand’s unique voice, personality, and values, he said, which can help deepen customer relationships and make them stand out.

Majority or 95% of ASEAN executives believe that establishing or maintaining a consistent personality is critical to their customer-facing AI agents in the next three years, according to the report, which surveyed over 4,021 executives across 28 countries from October to December 2024.

Companies must also ensure that their workers are equipped to handle advanced and personalized AI agents to increase their productivity, Mr. Yason said.

“Like any new technology, the main objective should be to make these tools available to as many people as possible so that they can continue to remain relevant, they can become more productive, and they can do higher value tasks,” he added.

Accenture Philippines last week unveiled its new Client Experience Center in Taguig City, which aims to showcase how businesses can reinvent their operations with the latest AI, cloud, data, and industry platforms.

The center features various zones that demonstrate personalized use cases of AI and advanced technologies in the residential, commercial, and industrial fields. It also has a Generative AI Zone, a Future of Work Zone, and café and lounge spaces for its clients.

Ambe C. Tierro, country managing director and technology lead at Accenture Philippines, said the center is a “space where clients can collaborate and co-innovate with Accenture to design and build solutions that can enable their reinvention for greater productivity and growth.” — Beatriz Marie D. Cruz

Robert De Niro calls for protest against ‘philistine’ Trump as Cannes opens

CANNES, France — Hollywood icon Robert De Niro lambasted “philistine” US President Donald J. Trump on Tuesday and his proposed film tariff at the Cannes Film Festival’s opening ceremony, where he used his lifetime achievement award speech to call for protests.

The 81-year-old actor shared the stage at the plush Grand Theater Lumiere with fellow Oscar-winning superstars like Halle Berry, Juliette Binoche, and Quentin Tarantino to accept the award from longtime collaborator Leonardo DiCaprio.

Mr. Trump “has cut funding and support to the arts, humanities and education. And now he has announced the 100% tariff on films produced outside the US,” said Mr. De Niro, known for films like Taxi Driver, Raging Bull, and more recently Killers of the Flower Moon.

“You can’t put a price on creativity, but apparently, you can put a tariff on it,” said Mr. De Niro, who called on “everyone who cares about liberty” to protest against Mr. Trump.

Festival organizers stress that they want to avoid politics and focus on the films, but this year’s inclusion of movies from Gaza, Ukraine, and Iran, as well as Mr. Trump’s tariff announcement shortly before the festival, has put more focus on the world outside Cannes.

Ms. Binoche, the head of this year’s jury, used her speech to pay tribute to Palestinian photojournalist Fatma Hassona, who was killed in an Israeli airstrike in Gaza and is the subject of a documentary to be shown at Cannes.

OFFICIALLY OPEN
Mr. Tarantino, the US director who launched his career at Cannes, officially opened the festival, which now runs until May 24, with a mic drop before audiences settled in for the opening film, French comedy Leave One Day.

Ms. Binoche, head of this year’s Cannes Film Festival jury, said on Tuesday that Mr. Trump’s tariffs threat on films, among his other policy decisions, was also about saving his reputation.

“We can see that he’s fighting, and he’s trying in many, many different ways to save America and save his ass,” the French actor told journalists in the French Riviera resort town.

“We have a very strong community of filming in our continent, in Europe, so I don’t know what to say really about that (his tariff announcement),” added Ms. Binoche.

The Oscar-winning actor will decide, along with eight other jury members, including actors Halle Berry and Jeremy Strong, which film will take home the festival’s Palme d’Or top prize.

Mr. Strong, known for playing Kendall Roy in the HBO series Succession, said that under Mr. Trump’s presidency, the role of film as a way to communicate truth had become more important.

He said he regarded his jury membership as a counterbalance to his portrayal of the young Mr. Trump’s mentor Roy Cohn in last year’s Cannes competition film The Apprentice.

“Roy Cohn I see essentially as the progenitor of fake news and alternative facts. And we’re living in the aftermath of what I think he created,” said Mr. Strong.

Separately, Ms. Berry, who played Jinx in the James Bond film Die Another Day, ruled out returning to the spy franchise after Amazon’s MGM Studio struck a deal earlier this year to take creative control under a new joint venture.

“I don’t know if 007 really should be a woman,” said Ms. Berry, who added that the time for a Jinx spin-off had also passed.

“In 2025, it’s nice to say, ‘Oh, she should be a woman,’ but I don’t really know if I think that’s the right thing to do.” — Reuters

DM Wenceslao Q1 income up by 2%, driven by strong leasing revenue

DMWAI.COM

LISTED real estate developer D.M. Wenceslao and Associates, Inc. (DMW) reported a 2% increase in its first-quarter (Q1) net profit to P562 million, up from P551 million in the same period last year, driven by its commercial leasing segment.

Recurring revenue from the rental of land, commercial buildings, and other leasing sources rose by 14% to P899 million, accounting for 84% of total revenue, DMW said in a statement on Wednesday.

Revenue from commercial buildings increased by 27% to P406 million due to a year-on-year improvement in occupancy across the company’s commercial portfolio. Residential revenue grew by 13% to P167 million.

“Our first-quarter results underscore the merits of our integrated development strategy and focus on placemaking,” DMW Chief Executive Officer Delfin Angelo C. Wenceslao said.

DMW expects a surge in foot traffic and patronage at its Parqal mixed-use development in Parañaque City as the four-tower residential project MidPark nears full completion and handover.

“In Aseana City, we see demand rising to meet well-conceived supply, validating our approach of building not just structures but vibrant communities. As we move forward with our development pipeline, we remain confident in sustaining our momentum and delivering long-term value to our stakeholders,” Mr. Wenceslao said.

The company has a debt-to-equity ratio of only 0.07x and a net cash position of P1.7 billion, providing ample financial flexibility to support ongoing projects and growth initiatives.

DMW shares were unchanged at P5 per share on Wednesday. — Revin Mikhael D. Ochave

IC places GHSI under conservatorship

PHILSTAR FILE PHOTO

THE INSURANCE COMMISSION (IC) has placed health maintenance organization (HMO) Getwell Health Systems, Inc. (GHSI) under conservatorship for failing to meet capitalization, financial capacity and security deposit requirements, stopping it from doing business.

GHSI has been placed under conservatorship and prohibited from taking new business effective May 13, the IC said in a notice posted on its website.

“Notice is hereby given that the Insurance Commission has issued a cease-and-desist order against GHSI due to the company’s continuing inability to comply with the requirements and orders of this Commission pursuant to Circular Letter Nos. 2016-41 dated July 29, 2016, and 2019-74 dated Dec. 27, 2019,” the regulator said.

“In line with this, GHSI was ordered to cease and desist from taking any new HMO business of any kind or character and the company was simultaneously placed under conservatorship in accordance with Executive Order No. 192, Series of 2015 and Circular Letter No. 2019-35 dated July 18, 2019 effective May 13, 2025,” it said.

IC Circular Letter 2016-41 outlines the minimum capitalization and financial capacity requirements for HMOs.

Meanwhile, IC Circular Letter 2019-74 lays out the guidelines for the HMO sector’s security deposit requirements.

According to the latest IC data, GHSI posted a net loss of P30.398 million last year.

The company’s capital stock was at P60 million at end-2024.

It had assets worth P142.62 million and liabilities of P220.45 million in the period, IC data showed.

The HMO industry’s net income stood at P979.8 million in 2024 amid higher revenues, a turnaround from the P4.27-billion net loss in 2023. — A.M.C. Sy

China trade dominance and small Philippine exports

The Philippine Statistics Authority (PSA) released the country’s international merchandise trade statistics for March. Merchandise trade means goods only — services trade like overseas workers remittances, international tourism revenues, etc. are not included. I compared the numbers with similar periods in 2023 and 2024 and the results are amazing.

First, our total imports in the first quarter or January-March this year were similar to 2023’s level at nearly $32 billion.

Secondly, imports from China are rising by an average of $1 billion/year, the percent share of China is rising, from 21.7% of total imports in 2023 to 27.9% in 2025. If we combine China plus Hong Kong, their share is 29.4% of our total imports which is huge.

Third, the combined share of imports from the US plus Japan plus South Korea is declining, from 22.5% in 2023 to 21.4% in 2025. This implies that Philippine businesses are slowly replacing their Isuzu, Hino, Hyundai, Ford, etc. buses and trucks in favor of Howo, Jac, Sinotruck, Yutong, King Long buses and trucks.

Fourth, the share of ASEAN-5 (Indonesia, Malaysia, Singapore, Thailand, Vietnam) is also declining, from 29.7% in 2023 to 26.9% in 2025 (see Table 1).

Also, a few weeks ago the World Trade Organization (WTO) released the full year 2024 merchandise exports data by country. The numbers there are also interesting.

First, world exports on average were doubling per decade from 1985 to 2005. There is a similar trend for industrial countries like the US, Germany, the Netherlands, and Canada.

Second, for many East Asian nations the expansion was much larger over the same period: on average a tripling per decade in countries like South Korea, Hong Kong, Singapore, Taiwan, Malaysia, Thailand, and the Philippines. But others have expanded four or five times per decade, like China and Vietnam. China joined the WTO only in 2001 while Vietnam joined the WTO in 2007.

Third, from 2005 to 2024, those that experienced trade expansion of more than 300% were China, India, Vietnam and the United Arab Emirates (UAE).

Fourth, until 2000 all G7 countries except Italy had higher exports than China. By 2005 China had overtaken them all except the US and Germany. By 2010, China had overtaken both. In 2024, China exports were 1.7 times larger than those of the US, 2.1 times larger than Germany’s, five times larger than Japan’s, 5.6 times larger than France’s, and seven times larger than the UK’s (see Table 2).

The Philippines still has the smallest number of exports among the ASEAN-6, with Vietnam’s exports 5.2 times larger than ours. There are two proximate reasons: geography and size of power generation. Vietnam can export to Thailand or China and vice-versa by land. Germany can export to France or Italy by land too. An archipelago, the Philippines can export only by sea and air.

In 2023, the Philippines’s generated only 119 terawatt-hours (TWH) of power while Malaysia generated 188 TWH, Thailand had 190 TWH, and Vietnam generated 276 TWH.

The country’s economic team can work with the infrastructure team to hasten the improvement of our infrastructure (airports, seaports, toll roads, rails, power generation-distribution, etc.). Our economic and fiscal policies should be as liberal, if not more liberal, than our neighbors because of our geographical isolation and disadvantage. We can also compensate with the increased exports of services, like attracting more foreign tourists, expanding the business outsourcing sector, and sending skilled Filipino workers overseas.

 

Bienvenido S. Oplas, Jr. is the president of Bienvenido S. Oplas, Jr. Research Consultancy Services, and Minimal Government Thinkers. He is an international fellow of the Tholos Foundation.

minimalgovernment@gmail.com

Kim Kardashian tells accused in Paris jewel heist that she forgives him

Kim Kardashian in a scene from the reality TV show The Kardashians.

PARIS — Reality TV star Kim Kardashian told the alleged mastermind of a jewel heist in which she thought she was going to die that she forgives him, but that this took away none of the trauma from being held at gunpoint in her Paris hotel room in 2016.

“I absolutely thought I was going to die,” the billionaire celebrity told a Paris court on Tuesday, recounting her shock and fear during the attack, in which she thought she was going to be raped and shot.

“I thought about my sister, thought she would walk in and see me shot dead and have that memory in her forever,” she said.

Ms. Kardashian cried as she recalled the start of the attack, in which the suspects are accused of tying her up with zip ties and duct tape before making off with jewelry, including a $4 million engagement ring given to her by her then-husband rapper Kanye West (now known as Ye).

Ms. Kardashian, 44, recalled the details of the attack.

“We were leaving the next morning so I was just packing up, it was around 3 in the morning. I heard stomping up the stairs when I was in bed,” she said, adding that men dressed as police officers barged in.

“Then I heard one of the gentlemen forcefully say ‘ring! ring!’ in English, with an accent, pointing,” she said. One of them pointed a gun at her.

“I was pretty hysterical and I just looked at the concierge and told him ‘What is going to happen to us? I have to make it home to my babies,’” Ms. Kardashian said.

She said at one point she feared she was going to be raped as the robbers threw her on the bed and one of them grabbed her leg. “But he ended up tying me up and closed my legs,” she said.

Ms. Kardashian said the intruders did not hit her.

“I was grabbed, and dragged into the other room, and thrown onto the floor, but wasn’t hit, no,” she said.

‘I FORGIVE YOU’
There was another emotional moment in court when a letter of apology written by 69-year-old defendant Aomar Ait Khedache, nicknamed “Omar the Old,” who can no longer speak, was read out.

“I’m honestly emotional about it,” Ms. Kardashian told the court, in tears.

“I do appreciate the letter for sure, I forgive you,” she said, looking at Mr. Khedache. “But it doesn’t change the feelings and the trauma and the fact that my life was forever changed, but I do appreciate the letter, thank you.”

Mr. Khedache is accused of being the ringleader of the robbery, which he denies. His response to Ms. Kardashian’s words was read out by the court. “Your forgiveness is a sunshine that has enlightened me… I am forever grateful,” he said.

SECURITY
The attack, during Paris fashion week, changed a lot of things, Ms. Kardashian said, including prompting her to increase her security.

“It changed the way that I feel safe at home. Now I have between four and six security at home for me to feel safe,” she said. “I can’t sleep at night if there aren’t multiple security people.”

Ahead of Ms. Kardashian’s testimony, her stylist Simone Harouche, who was asleep in the same luxury hotel flat at the time of the attack, told the tribunal of the “terror” they both felt during the robbery.

Ms. Harouche rushed to lock herself in the bathroom and texted Ms. Kardashian’s sister Kourtney and their bodyguard for help.

When the robbers left and Ms. Kardashian joined her downstairs, “she was beside herself, I’ve never seen her like that before,” Ms. Harouche said. “She just was screaming and kept saying we need to get out of here, we need help, what are we going to do if they come back.”

Ms. Harouche also cried at times during her testimony, and said she had changed careers and underwent therapy because of the robbery, which she said caused her post-traumatic stress and made her fearful of being around celebrities.

In all, nine men and one woman are being tried by the criminal court. Five of them — all men — face armed robbery and kidnapping charges and potentially risk being sentenced to life imprisonment. The others are charged with complicity in the heist or the unauthorized possession of a weapon.

As the robbers escaped on foot or with bicycles, they lost a cross with six diamonds, which a passerby found in the street and brought to the police. But most of the jewels, including the $4-million engagement ring, were never found.

Fans of Ms. Kardashian queued up early on Tuesday to get a chance to get a seat in the courtroom.

“We came to show our support for Kim Kardashian because she’s someone we’ve followed since we were very young,” social media influencer Leo Saint-Charles said.

“She inspires us a lot, and we’re here to support her in this trial, which was very traumatic for her. And there you have it, we hope justice will be done, right?” — Reuters

TikTok, Meta endure tougher Asia crackdown as US efforts stall

REUTERS

SOME of the toughest new laws attempting to rein in TikTok, Instagram and Snapchat aren’t coming from Washington or Brussels. They’re emerging from capitals such as Canberra, Jakarta and Kuala Lumpur.

Governments across the Asia-Pacific region are leading the global charge to protect children from online harms, presenting an unprecedented challenge to the likes of ByteDance Ltd., Meta Platforms, Inc. and Snap Inc. in markets with some of their largest and most youthful user bases.

Australia late last year passed a law requiring social media platforms to keep children under the age of 16 off their services. New Zealand’s governing party last week put forward a bill that mirrors Australia’s move.

Indonesia is formulating restrictions for those under 18 accessing social media. Malaysia is requiring social media firms to obtain licenses to operate in the country, while Singaporean policymakers have signaled they’re open to minimum-age laws.

Meanwhile, Vietnam is requiring foreign social platforms verify their users’ accounts and provide authorities with their identities on demand, and Pakistan wants such firms to register with a new agency.

“I’ve met with parents who have lost and buried their child. It’s devastating,” Australian Prime Minister Anthony Albanese said in November. “We can’t as a government hear those messages from parents and say it’s too hard. We have a responsibility to act.”

To be sure, it’s unclear how strictly some of the measures will be enforced. And social media titans face headwinds elsewhere, such as the European Commission’s Digital Markets and Digital Services Acts, along with moves by other nations attempting to curb children’s access to the platforms.

In the US, social media firms have come under fire in some states, but the federal government has yet to pass meaningful legislation requiring they establish more guardrails. The Senate in July passed the Kids Online Safety Act, which would force companies to prioritize children’s wellbeing, but the measure has stalled in the House.

Meta faces a landmark antitrust case by the US Federal Trade Commission, while TikTok could be banned in the country. Meanwhile one US law firm is pursuing a new legal strategy, focusing on product liability, to hold tech giants accountable for harms to children despite longstanding protections afforded by Section 230 of the Communications Decency Act.

New rules in Asia-Pacific could complicate companies’ operations across the region, said Ewan Lusty, a Singapore-based director at political and regulatory consultancy Flint Global.

“If you’ve got each country implementing their own version of a regulation, then the cost of complying with that will multiply” for tech firms, he said. 

The emerging restrictions also pose a new threat because they could curtail the tech titans’ growth in some of the world’s most populous markets.

Southeast Asia is home to more than 650 million people, while South Asia’s population stands at roughly 2 billion. Young internet users across the region are expected to play a vital role in propelling digital firms’ expansion in the years to come. China has for years blocked foreign online platforms, shutting them out of a market of some 1.4 billion people.

In a bid to capitalize on growth across Asia-Pacific, Amazon.com, Inc., Alphabet, Inc.’s Google, Microsoft Corp. and other tech giants are investing billions of dollars in the region as young users increasingly communicate with friends online, shop, stream video and use generative artificial intelligence.

Social network titans don’t typically break out user counts or sales by country, but they often derive most of their revenue from developed economies in the west, where advertisers pay more to reach wealthier consumers. User growth in many richer nations, though, has slowed over the years.

For Meta, Southeast and South Asian nations make up significant global shares of Instagram and Facebook user accounts, with those consumers tending to be younger, according to data from digital consulting firm Kepios Pte., which specializes in analyzing online behavior.

Markets across the region also have some of the world’s highest rates of user engagement for Meta’s products, and many citizens depend on Facebook, especially, as a gateway to the internet. Meta and other firms also often use such countries as testing grounds for new product initiatives.

TikTok’s largest market by users is the US, but five of its 10 biggest globally are in Southeast or South Asia, according to Kepios data. Snapchat has more than twice as many users in South Asia than in the US, the data shows.

Australia, which has a track record of battling big tech, in November passed its controversial law banning young children from social media beginning at the end of this year. Platforms will be responsible for enforcing the age limit, with penalties of as much as A$50 million ($32 million) for breaches.

While opinion polls have shown that many Australian voters support the new rule in principle, some of the companies, academics and children’s rights groups call it flawed and question how it might be enforced.

An executive at one major tech firm, asking not to be identified discussing sensitive matters, said Australia’s move has resulted in consternation among companies and uncertainty over how things will proceed.

A Meta spokesperson said the company is committed to keeping young people safe and that safety tools it has rolled out for such users have proven popular around the world.

A spokesperson for Snap pointed to concerns that have been raised about Australia’s new rules, but said the company would work with the Australian government ahead of their implementation and comply with any regulations.

TikTok has in the past highlighted voluntary measures it has implemented to support safety for teens.

X declined to comment.

The Asia Internet Coalition, an industry group that represents major tech players in matters of tech policy in the region, didn’t respond to requests for comment on the regulatory moves.

Asia-Pacific policymakers in the past haven’t been as quick as governments elsewhere to regulate tech firms, but that’s changing now, said Lusty of Flint Global.

“The region is becoming increasingly important in debates around how we govern the digital space,” he said. Bloomberg

BPI Securities targets to increase client base with enhanced platform

NEW.BPITRADE.COM

BPI SECURITIES Corp., the stock brokerage arm of Ayala-led Bank of the Philippine Islands (BPI), aims to grow its client base in the next two to three years through its upgraded web-based platform.

Currently, BPI Securities serves close to 100,000 clients. The company hopes to grow this number to approximately 300,000 clients by 2027.

“We are targeting a substantial increase in our client base in the coming years,” said BPI Securities President Mark Rome M. Race.

“In terms of client profile, millennials are the most active, followed by Gen X, and we are seeing a shift in user demographics within the Philippine investing space.”

As part of its growth strategy, BPI Securities introduced the new BPI Trade web-based platform, which aims to make stock market investing more accessible to Filipinos.

The platform will be available starting May 28, with no minimum initial investment required. Key features include real-time market data, streamlined trading tools, and access to insights and research from BPI Securities’ expert team.

One of the platform’s standout features is its fully digital account opening process, enabling clients to open trading accounts entirely online.

“BPI Trade offers a superior trading experience, empowering both new and seasoned investors to seize market opportunities,” said Mr. Race. “Our goal is to make stock investing more approachable, informative, and convenient for Filipinos.”

The platform’s simplified account opening, zero minimum funding requirement, and enhanced tools aim to provide a more intuitive and accessible investing experience.

While the online account opening facility is currently available to existing BPI clients and select users, the company plans to expand access in the coming months.

The digital account opening process is accessible via web browser, with plans for integration into the BPI Trade mobile app in the near future. — Revin Mikhael D. Ochave