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Justice department issues subpoena against suspected drug lords

The Department of Justice (DoJ) on Thursday, March 22, issued subpoenas against alleged drug lord Peter Go Lim, confessed drug distributor Rolan “Kerwin” Espinosa, convicted drug lord Peter Co, and 20 others ordering the respondents to present themselves to the agency on Thursday, April 12.

They faced charges filed by the police’s Criminal Investigation and Detection Group (CIDG) with violation of Section 26(b) in relation to Section 5 of Republic Act 9165 or the Comprehensive Dangerous Drugs Act of 2002.

The order — disclosed to media on Wednesday, March 28, was issued following “the remand of this case to (a) new panel of prosecutors… to allow the complainant and respondents to submit additional pieces of evidence in support of their respective positions,” according to the subpoena.

This is the latest development in the case against the respondents whose drug charges were dismissed on Dec. 20, last year after a panel of prosecutors found inconsistencies and contradictions in co-accused and sole witness Marcelo L. Adorco’s statements.

Justice Secretary Vitaliano N. Aguirre II, in response, issued an order to review the case and “remanded” it to a new panel of prosecutors “for (the) purpose of conducting the continuation of the preliminary investigation/clarification hearing and to allow the complainant and respondents to submit additional pieces of evidence in support of their respective positions,” according to the order. — Dane Angelo M. Enerio

Growth in money supply quickens in February

Growth in money supply picked up in February as bank lending grew by nearly a fifth, the Bangko Sentral ng Pilipinas (BSP) reported on Wednesday, March 28.

More money circulated in the Philippine economy as liquidity grew by 13.5% last month, faster than the 12.8% pace seen in January. . — Melissa Luz T. Lopez

PBCWE and WiTech on a gender equal work space

In selecting your college course, you might have been advised by your titas and titos to choose based on your gender. Engineering is for boys, hotel and restaurant management is for girls. Architecture is for boys, fine arts is for girls. Computer science is for boys, marketing is for girls. They will claim that their advice is well‑meaning. It’s just easier to get a job that way.

Audrey Pe, the 16 year‑old co‑founder of Women in Tech (WiTech), isn’t taking this as is. The headstrong young woman, along with WiTech members from high schools and colleges across the country, has made it a point to introduce female role models to future tech leaders. WiTech started as Pe’s blog, where she interviews successful women in the technology sector from all around the world. Now WiTech reaches out to students as well, through its first, fully‑packed WiTech Convention last March 3 at Accenture, Bonifacio Global City.

“I was interested in coding at an early age,” Pe told SparkUp at an interview at an Ortigas café last month. “But there’s a lack of role models in tech, especially women in tech. Looking online, I saw that there was a huge gender gap, women are paid less.”

She met with like‑minded young women during a youth hackathon, and WiTech became more than just her blog. It became an organization mission “to inspire women from all around the world to pursue careers in tech, and use their abilities to make a difference in society.” Because the reality is—despite the Philippines’ high ranking in the World Economic Forum’s 2017 Global Gender Gap report—we still live in a country that has a stigma against women in power, and where politicians and entertainers can get away with saying the most sexist things.

“We need to break the stigma that feminism is just for women, because in reality we need both genders to work together to make a difference,” Pe said. And with more empowered young men and women working together, this change can affect a growing field in business—the startups.

The Philippine Business Coalition for Women Empowerment (PBCWE), a business organization made up of companies with a large employee base that are dedicated to promoting gender equality in all aspects of their business, isn’t working directly with startups. Instead, the Australian Government‑funded initiative (through the Australian Embassy’s Investing in Women program) is assisting these companies in getting their EDGE Certifications. Recognition from the Swiss‑based international organization means that a company has equal opportunities, pay, recruitment measures and training measures for men and women, as well as flexible work hours. As of March 5, Ayala Land Inc. (ALI) and Convergys are the first two Philippine companies to be EDGE‑certified, as well as being the first real estate company and business process outsourcing (BPO) enterprise, respectively, in the EDGE’s roster.

This does not mean that they do not see the value in starting early as opposed to later in a company’s life. PBCWE executive director Julia Abad, in an interview with SparkUp at the sidelines of the March 5 awarding ceremony, said gender equality is for every company, new or old.

“It makes good business sense,” Abad said. According to a 2016 study by Washington‑based think tank Peterson Institute for International Economics, which looked at around 22,000 firms in 91 countries, companies that have an executive roster of at least 30% women can rake up as much as 6% more in profits. Female corporate leaders can boost a company’s performance, thus it’s beneficial to provide equal opportunities to women in a company’s growth.

While you can’t really select who you’ll have that nice startup chemistry with, you can choose who you hire. And that’s a good start in promoting a gender‑equal workplace. It doesn’t mean that you should strictly hire an equal amount of men and women in your budding company. “What’s important is breaking gender stereotypes,” Abad explained. “Make sure that no task is limited to one gender.”

“In recruitment, you can start by removing gender stereotypes—for example, when people think finance is for women and tech is for men—and focus on competencies,” she added. To combat unconscious gender bias, she suggested removing the names or covering the names when looking at potential employees’ CVs.

She also shared that as a parent, and as someone who studies the work conditions of women, flexible work hours are a huge consideration for female job‑seekers. It means having the time to check in with family, to pick up your child from school, and to do chores. While those are considerations that men might also have, our society still delegates those roles to women.

“Right now we’re working with companies on developing best practices,” Abad said on PBCWE’s plans. And who knows? Maybe these best practices, when developed, can be used by startups too. She cited Accenture as a company that has a training module on building inclusive growth across genders.

Knowledge and abeyance of the law can also help startups in establishing gender‑equal businesses. “The Philippines has very good laws when it comes to gender equality,” said Abad. “If we implement these well, we can go a long way.”

With young women like Pe working at the school level and organizations like the PBCWE working on the corporate level, there’s definitely an encouraging environment for startups to step up and embrace a gender‑equal workforce.

MICC begins review of erring mines

THE Mining Industry Coordinating Committee (MICC) has finally started its review of 26 mines which were ordered either suspended or shuttered by former Environment Secretary Regina Paz L. Lopez more than a year ago.

In a statement, Finance Undersecretary Bayani H. Agabin said the review is now expected to be completed in six months, instead of three months.

The “fact-finding” and “science-based” review began this month with on-site visits to the mines.

Mr. Agabin said the first phase, which addresses the legal, technical and environmental concerns on mining operations, is targeted to be finished in three months.

The second phase, which covers the social and economic aspects of the mining operations, will take another three months, as requested by the technical review teams.

“When we were looking at this, we set the period for review for three months. But when the teams were formed, the concern, especially on the economic study, is that they will need the inputs from the technical, the legal and the environment,” Mr. Agabin was quoted in the statement as saying.

“If you will notice, the methodology for the social and economic aspects is that they will do a household survey. They were quite strict, the teams that we got. In fact, they didn’t want to continue on if there will not be an honest-to-goodness scientific survey done within the affected communities. That’s how meticulous they are,” he added.

Dr. Marian de los Angeles, the overall coordinator of the technical review teams, said the second phase of the review will include a “social cost benefit analysis, an evaluation of the changes in the ecosystem and a more in-detail look into the equity aspects” of the mining operations.

In February 2017, Ms. Lopez, a staunch environmentalist, ordered the suspension or closure of 26 of the country’s 41 mines for various violations, such as operating in watersheds and polluting surrounding bodies of water.

Initially the MICC has scheduled the review to start in June 2017, but has been delayed several times due to concerns over its operating budget, the terms of reference for the review teams, as well as the creation of a panel of experts to conduct the study. The review was supposed to be finished by end-2017.

The findings of the technical review teams are expected to form the basis of policy recommendations to President Rodrigo R. Duterte and concerned government agencies.

‘OPTIMISTIC’
Sought for comment, Chamber of Mines of the Philippines Executive Director Ronaldo S. Recidoro expressed hope the mining companies will get a fair assessment from the review teams.

“Apparently, na-delay sila (they were delayed). We remain positive given the developments of the DENR and the industry. We think the MICC review will be very technical, will be based on evidence, and we will get a fair assessment for our operations,” Mr. Recidoro told BusinessWorld in a phone interview.

“We would rather get it right than get it quick,” he added.

Twenty-five experts comprise the five teams, which are currently conducting the review of the 26 mine sites.

The MICC had previously said the clustering of the mines for review would be based on its location and type of ore. The first team would inspect gold, copper and nickel mines in the Cordillera Administrative Region, Cagayan Valley, Mindoro, Marinduque, Romblon and Palawan; while the second team will look into iron and nickel mines in Central Luzon.

The third team will visit chromite, nickel and iron mines in Eastern Visayas and CARAGA, while the fourth and fifth teams will check nickel and chromite mines in the CARAGA region.

The MICC in October agreed to conduct another review of the mines in 2019 and succeeding ones every two years thereafter, in keeping with its mandate under Executive Order No. 79.

Mr. Agabin previously said the MICC will start a similar review on the DENR’s order to cancel 75 other projects still in pre-production stage, as well as the standing ban on open-pit mines, to aid in future policy decisions. — Elijah Joseph C. Tubayan and Janina C. Lim

Gov’t to borrow P325B locally in second quarter

THE GOVERNMENT is set to borrow P325 billion from the domestic market next quarter through auctions of securities, the Bureau of the Treasury (BTr) announced on Tuesday.

In a memorandum posted on its website, the Treasury said it will auction off P195 billion in Treasury bills (T-bills) and P130 billion worth of Treasury bonds (T-bonds) in the next three months.

The planned borrowing for the April-June period is higher than the P240 billion it offered in the first quarter and is more than the P180 billion placed on the auction block in the same quarter last year.

This is because Treasury auctions will now be held twice a week in the second quarter, compared with the once-a-week offerings done in the January-March period.

Broken down, the government will borrow P15 billion via T-bills — P5 billion in 91-day papers, P4 billion in 182-day debt, and P6 billion in the 364-day tenor — in auctions set on April 2, 10, 16, 23 and 30; May 7, 14, 21 and 28; and June 4, 11, 18 and 25.

Meanwhile, for the T-bonds, the Treasury will auction off three-year papers on April 3, May 8 and June 13; five-year debt notes on May 2; and seven-year bonds on April 11, May 15 and June 5.

Ten-year bonds will also be offered on April 17, May 22 and June 19, while 20-year bonds will be auctioned off on April 24, May 29 and June 26.

In a separate memorandum, BTr said the modification in the issuance program was done “based on prevailing market conditions, auction results during [the first quarter of 2017], and domestic and external market events.”

In a text message, National Treasurer Rosalia V. De Leon added that the adjusted issuance program was also based on “market sentiment, including bias towards short tenors.”

“Furthermore, the BTr crafted the issuance program in close coordination with the market to maximize its participation in the fund raising of the national government,” the Treasury added in the memorandum.

In the first quarter, out of its P240-billion program, the government only borrowed a total of P124 billion from domestic creditors, with bulk of awards made in Treasury bills, as it chose to make partial awards and rejections due to higher rates.

Meanwhile, a bond trader said the increase in volume and frequency of the Treasury’s capital-raising activities will support the government’s socioeconomic programs.

“Maybe in their assessment, this is what is required to help fund the government’s socioeconomic program,” the trader said in a phone interview.

The government is embarking on an P8-trillion infrastructure spending program until 2022 in an effort to boost economic growth to 7-8% until then.

The government plans to borrow P888.23 billion this year from local and foreign sources to fund its budget deficit, which is capped at 3% of the country’s gross domestic product.

Last week, the government raised 1.46 billion renminbi from its maiden three-year “panda” bond sale amid “overwhelming” demand from both onshore and offshore investors. — Karl Angelo N. Vidal

US wants China to cut auto tariffs, buy more chips

WASHINGTON/BEIJING — Top Trump administration officials are asking China to cut tariffs on imported cars, allow foreign majority ownership of financial services firms and buy more US-made semiconductors in negotiations to avoid plans to slap tariffs on a host of Chinese goods and a potential trade war.

A person familiar with the discussions said these were among the asks from Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer as they pursue talks with Beijing.

The Wall Street Journal first reported the demands from US officials, saying they came in a letter sent to Beijing last week.

White House trade adviser Peter Navarro confirmed that President Donald Trump asked Mnuchin and Lighthizer to try to resolve trade differences with China.

“We’re hopeful there that China will work with us to basically address some of these practices,” Navarro told CNBC television.

US stocks surged on Monday on the news that the two sides were talking, after a massive rout last week when Trump announced plans to impose tariffs on up to $60 billion of Chinese imports over alleged misappropriation of US intellectual property.

The Dow Jones Industrial Average posted its third biggest point gain ever, rising 669.4 points, or 2.8%, to close at 24,202.6 while the broader S&P 500 rose 2.7% after a nearly 6% drop last week.

Chinese Premier Li Keqiang earlier on Monday said that China and the United States should maintain negotiations and repeated pledges to ease access for American businesses to China’s markets.

Li told a conference that included global chief executives that China would treat foreign and domestic firms equally, would not force foreign firms to transfer technology and would strengthen intellectual property rights, repeating promises that have failed to placate Washington.

Despite a steady stream of fierce rhetoric from Chinese state media lambasting the United States for being a “bully” and warning of retaliation, Chinese and US officials are busy negotiating behind the scenes.

TARIFFS TO PROCEED WITHOUT AGREEMENT
In an interview aired on Sunday, Mnuchin told Fox News that he was pursuing an agreement with the Chinese “for them to open up their markets, reduce their tariffs, stop forced technology transfer. These are all the things we want to do.”

“We are proceeding with these tariffs, we’re not putting them on hold unless we have an acceptable agreement that the president signs off on,” Mnuchin added.

China has offered to buy more US semiconductors by diverting some purchases from South Korea and Taiwan, the Financial Times reported, citing people briefed on the negotiations. China imported $2.6 billion of semiconductors from the United States last year.

Chinese officials are also working to finalize rules by May — instead of the end of June — to allow foreign financial groups to take majority stakes in Chinese securities firms, the Financial Times said.

“I anticipate that for political reasons it would be logical for China to respond, because countries do,” Blackstone Group Chief Executive Stephen Schwarzman told Reuters on Monday on the sidelines of the Beijing conference where Li spoke.

“That’s why I view this more as a skirmish, and I think the interests of both countries are served by resolving some of these matters.”

China called on World Trade Organization members on Monday to unite to oppose Trump’s proposed tariffs targeting alleged intellectual property theft, saying they should “lock this beast back into the cage of WTO rules.”

On Friday, China responded to the US tariffs on steel and aluminum by declaring plans to levy additional duties on up to $3 billion of US imports, including fruit, nuts and wine.

China could also inflict pain on US multinationals that rely on China for a substantial — and growing — portion of their total revenues, said Alex Wolf, senior emerging markets economist at Aberdeen Standard Investments.

“This could put U.S. companies such as Apple, Microsoft, Starbucks, GM, Nike, etc in the firing line,” Wolf said in a note.

China can increase the regulatory burden on US companies through new inspections and rules; ban travel; stop providing export licenses of key intermediate goods; raise the tax burden on U.S. multinationals in China; or block US companies from the government procurement market, he said.

CAR TARIFF DIFFERENTIAL
The Trump administration has demanded that China immediately cut its $375 billion trade surplus with the United States by $100 billion.

China has a 25% tariff on US cars and has talked recently of lowering it, while Trump has often complained that the US import tariff on passenger vehicles is only 2.5%. China’s imports of US-built motor vehicles totaled $10.6 billion in 2017, about 8% of the country’s overall US imports by value, according to US government data.

On the reported offer to increase US semiconductor imports, it is unclear how US chips would replace South Korean and Taiwanese chips, since there is minimal overlap between US chips and those of the two Asian producers.

China is heavily dependent on foreign semiconductors, one of its biggest import categories by value. That said, the United States accounted for just 1 percent of China’s total semiconductor imports last year by value, according to Reuters calculations based on Chinese customs data. — Reuters

Duterte set to force Boracay to close

PRESIDENT Rodrigo Duterte’s plan to shut Boracay island in order to clean it up could deal a blow to the nation’s plan to attract 7.4 million tourists this year.

Uncontrolled construction of too many establishments so close to the shoreline and the lack of sewerage systems have created environmental problems for the central Philippine destination famous for its powdery white-sand beaches. In February, Duterte slammed Boracay as a “cesspool,” prompting state agencies to quickly assess how to resolve the issue.

The heads of the interior, tourism and environment departments are proposing a six-month closure, and Mr. Duterte seems amenable. There were about 1 million foreign visitors in Boracay last year while the entire country had 6.6 million tourists, according to the Department of Tourism.

Some 36,000 jobs stand to be affected, with an expected shortfall of about P56 billion ($1.07 billion) in annualized revenue.

“We have already seen a lot of cancellations, particularly from China and Korea. They have opted for other destinations like Bali and Phuket,” Mary Ann Ong, a member of the Philippine Tour Operators’ Association, said in an interview.

Still, the government has hinted that the gain in the long run could more than compensate for the short-term pain.

The clean-up drive will ensure sustainability of the destination at one point touted by an international travel magazine as the best island in the world, Economic Planning Secretary Ernesto Pernia said in text message.

“That may be the minimum that needs to be done to sensitize and instill fear in violative resort owners as well as tourists who degrade the ecology,” Mr. Pernia said. — Bloomberg

NPC summons Grab PHL over Uber deal

By Patrizia Paola C. Marcelo,
Reporter

THE National Privacy Commission (NPC) has summoned ride-sharing company Grab Philippines (MyTAXI.PH, Inc.) to a meeting next week regarding its acquisition of Uber’s Southeast Asian operations.

NPC Commissioner Raymund E. Liboro said in a statement they asked Grab to “enlighten” the privacy watchdog on the transaction, particularly regarding the processing of the data of its Filipino drivers and users, and actions it will take to protect the data.

“As the biggest TNV [transport network vehicle] provider in the Philippines after the exit of Uber, we want Grab to demonstrate that they could ‘walk the talk’ when it comes to protecting personal data and upholding the data privacy rights of its drivers and users,” Mr. Liboro said in a statement.

Mr. Liboro said Grab Philippines, through counsel John Paul Nabua, assured the NPC of the company’s continued cooperation and compliance with Philippine data privacy and protection laws.

“Grab also declared to the Commission that there will be no sharing of any user data between Uber and Grab. Uber users and drivers will be required to register anew with Grab to allow them to use the Grab TNV (transport network vehicle) platform,” he said.

Uber announced on Monday that it was selling its Southeast Asian businesses, ride-sharing and food delivery, to Singapore-based rival Grab. The transaction gives Uber a 27.5% stake in Grab and Uber CEO Dara Khosrowshahi a seat on the Grab.

Mr. Liboro added the sale does not affect the NPC’s ongoing investigation into past Uber data breaches involving Filipino users. “This investigation is continuing and a report would be out soon,” he said.

Last December, Uber Philippines confirmed to the NPC that personal data of its Filipino customers and drivers were exposed in a massive data breach involving its parent company Uber Technologies, Inc.

Uber submitted a letter to the NPC, admitting that personal information of Filipinos were included in the October 2016 data breach involving 57 million users and around 600,000 drivers around the world.

NPC then reminded Uber that the concealment of a data breach has serious consequences under the Data Privacy Act of 2012.

UBER EMPLOYEES
In a statement, Grab said it will “find roles” for Uber employees and contract staff following the upcoming integration of operations.

Uber is in the process of transitioning its services to the Grab platform by April 8.

“We understand it’s been an emotional and trying day for Uber’s employees in Southeast Asia. On the part of Grab, we are committed to try to find roles for over 500 Uber employees. In addition, we will find roles for their contract staff. We will be having conversations with all +500 employees on how they would fit into Grab. In the meantime, all Uber employees are on paid leave,” the Singapore-based company said.

Grab Philippines, however, disclose how many Uber employees and staff in the Philippines would be affected. A representative for Uber Philippines was also contacted for comment.

NO FARE HIKE
Meanwhile, the Land Transportation Franchising and Regulatory Board on Tuesday said Grab cannot increase fares without going through the process.

“They cannot [increase fares] as we have hearings for fare increase,” Board Member Aileen Lourdes A. Lizada said in a text message.

A hearing is set on April 3 for fare increase petitions earlier filed by Grab and Uber.

Solar energy solutions eyed for small buildings

By Victor V. Saulon, Sub-Editor

A NONPROFIT organization has teamed up with a Dutch solar company and a German development institution to promote access to solar energy solutions for small buildings in the Philippines.

Karthik Subburaman, regional director of Asia Society for Social Improvement and Sustainable Transformation (ASSIST), said his organization’s partnership with Deutsche Investitions-und Entwicklungsgesellschaft, or KfW, and SolarNRG Netherlands seeks to pilot projects in Metro Manila, which could be replicated elsewhere in the Philippines.

“Our interest is to drive and promote sustainable development in the region. So we are committed to several sectors,” he said. “Renewable energy is one of them.”

The partnership, called accessRE, targets small and medium-sized buildings by helping them adopt sustainable power systems, such as solar panel installations. Its objective is two-pronged: provide solar installations to relevant small institutions, and develop skills for future solar energy technicians.

KfW, the other partner, is co-financing the project. The German development institution provides grants for projects with “good concepts,” Mr. Subburaman said.

“What ASSIST did was to conceptualize the idea. Along with the private partner, SolarNRG, [we] submitted a proposal to KfW and KfW decided to fund it,” he said. “So the project is partly funded by KfW [and] partly funded by SolarNRG.”

The project’s target installation within its 18-month duration is a maximum of 100 kilowatts. It estimates small-scale solar power solutions, with capacities ranging from 1 kilowatt-peak (kWp) to 5 kWp, to save about P1,500 to P7,500 a month.

These systems’ return on investment is expected within four to six years, while having an average lifespan of 25 years, making them cost-efficient and effective in mitigating losses from the limited availability of energy.

“They also start to reduce their impact on the environment in terms of greenhouse gas emissions,” he said.

Mr. Subburaman said his team would screen applicants for the project, although schools and universities have an advantage.

“The criteria is, number one, it has to be a small enterprise. So it cannot be a large enterprise,” he said, adding that these entities should have a requirement of no more than 50 kW or a consumption of about P50,000-100,000 of electricity a month.

“The second is, what is the relevance of the institution to the public or the community. In that sense, if it’s a small company that provides employment to the people of the community, if it’s a hospital, if it’s a school, they get preference,” he said.

Aside from the solar installations, the project aims to develop a customized training module for electricians, Mr. Subburaman said.

“They get skilled as a solar technician, so they will be able to do solar panel installations as well as maintenance,” he said.

“By doing this training module, making it available in one or two public schools [and] vocational schools, it becomes accessible to anyone. We will not charge them for the training during the project duration,” he said.

Mr. Subburaman said there is a “high chance” that the project will be replicated outside Metro Manila.

“It’s a matter of how soon, that’s the question. It’s not about whether it will happen. It’s about how fast we will be able to replicate it,” he said.

“If it’s the same donor, we have to finish this project before we can get another grant to do it. If we are working with other donors, then it’s possible that we can start earlier,” he added.

How Singapore-based Grab vanquished Uber in SE Asia

AS UBER TECHNOLOGIES, Inc. looked to conquer ride-sharing around the world, Grab was focused on serving the 620 million people that share its home in Southeast Asia.

Helped by the deep pockets of SoftBank Group Corp., Grab emerged the winner on Monday when Uber agreed to swap its business in the region for a 27.5% stake. The deal is a vindication for cofounder Anthony Tan’s strategy of tailoring services to local needs and working with incumbent taxi operators instead of against them.

With $4 billion raised from investors led by SoftBank, Tan has turned Grab into a ride-hailing juggernaut since it was born in a tiny Kuala Lumpur storage room about six years ago. Rich funding has helped him lure top talent and survive through the losses generated by a fierce battle with Uber to win over customers. Now the 36-year-old Harvard grad, who spurned the family’s automotive empire in Malaysia to strike out on his own, has emerged stronger as he turns to his other significant competitor in the region, Indonesia’s Go-Jek.

“Anthony is a great leader, someone that I’ve learned a lot from,” said Jeremy Kranz, head of the technology investment group at GIC Pte, Singapore’s sovereign wealth fund.

The deeply religious Tan, who still attends Bible study classes, started Grab in his native Malaysia. With Harvard classmate Tan Hooi Ling, he kicked off operations for what was then known as MyTeksi in Kuala Lumpur, allowing users to book cabs.

Grab later relocated to Singapore and now provides a host of services from Indonesia to Vietnam and the Philippines. The company is valued at $6 billion by CB Insights, making it the most valuable start-up in Southeast Asia.

Along the way Grab has been picking up talent, from engineers to product developers, as its funding helped woo them from household names in the technology world.

“In Southeast Asia, one of the most difficult things to build is tech talent,” Tan said at the Money 20/20 conference this month. “We’ve been able to build tech talent from Google, Facebook, Twitter, Microsoft. We’ve been very blessed. With that, we could build great products.”

That includes Ming Maa, a former executive at Goldman Sachs Group, Inc. and SoftBank, who was hired as group president in 2016 and oversees Grab’s fund-raising, mergers and acquisitions and other strategic issues.

Still, it’s not a clean victory. Go-Jek remains a potent rival, particularly in Indonesia as it moves beyond just ride-sharing to real-world service such as food delivery and hairdressers on demand. Also, the US company is getting a bigger slice of Grab than it did when it sold out in China. Uber got less than 18% of Didi Chuxing in that deal, although it did get 36.6% of Yandex when it retreated from Russia.

To some, Grab’s victory may also have been the result of pressure from SoftBank to consolidate a global ride-hailing empire and whittle down billions of dollars in losses.

“After investing $700 million in the region, we will hold a stake worth several billion dollars and strategic ownership in what we believe will be the winner in an important global region,” Uber CEO Dara Khosrowshahi said in a message posted on its website.

While Tan is the rare CEO to credit his success as part of God’s plan, others see more terrestrial reasons behind his rise.

“A lot of guys have the ability to succeed, but it’s people like Anthony who end up winning,” said Amit Anand, managing partner of Jungle Ventures in Singapore. “He comes from the ground up, and he never forgot what got him there, versus people who never had to hustle.”

As the company expanded, it tailored services for new markets. For Indonesia, it operates GrabBike in a country where many are comfortable traveling on a two-wheeler. In the Philippines, where Uber got into fights with regulators, Grab adopted a more cooperative approach.

“In online businesses, we would have expected big global players to dominate due to their scale of operations,” said Lawrence Loh, associate professor at National University of Singapore. “Uber’s sell-out suggests that the pendulum has swung towards the importance of business localization.”

Grab has also been effective at keeping its customers. Its reward program lets riders accumulate points that can be redeemed for everything from KrisFlyer miles, the frequent flier program of Singapore Airlines, as well as free rides to a Big Mac. In Indonesia, customers can cash them in for durian, the stinky fruit that’s popular in the region.

“Grab has done a great job building those proprietary linkages that make consumer experience more sticky, more consumer-centric,” Anand said. “Today, every great company has access to technology, people and capital. What keeps you ahead of the game is building those linkages that are difficult for other people to replicate.” — Bloomberg

A day of books and roses

THE ORGANIZERS of the annual Día del Libro — the International Book Day — once again invite bookworms to a day of fun, culture, and art-filled activities.

In Spain, Día del Libro is celebrated on St. George’s Day (April 23), with men and women exchanging books and roses. It also commemorates the demise of two of the world’s greatest writers: Spain’s Miguel de Cervantes and England’s William Shakespeare, who both died on April 23, 1616.

So on April 21, a Saturday, at the Ayala Triangle in Makati City, Instituto Cervantes, which is the Embassy of Spain’s cultural arm, will mark the day with free books and roses.

Other book purveyors who are participating in the celebration will be offering a wide range of books at a discount of 20% — and each purchase will come with a free rose.

The Instituto Cervantes first introduced the celebration to Manila in 2006.

Besides the free books and roses, there will be free Spanish classes, book presentations, poetry recitals, street art commemorating the 200 years of Madrid’s Prado Museum, games, and opportunities to meet authors.

Visitors are also invited — and challenged — to join a quixotic attempt of copying the classic novel, Don Quixote de la Mancha, by hand. The final hand-written book will be deposited in the Library of Instituto Cervantes. Participants in the handwriting chain will receive a rose, of course.

Meanwhile, the Embassy of Chile will present an exhibit on Chilean writer Nicanor Parra (1914-2018), a renowned Latin American poet of the 20th century.

The month of April is a celebration of world literature, as UNESCO declared April 23 “World Book and Copyright Day” to instill the love of reading printed materials while promoting respect for authors and their literary output. Since April is also the birth month of Filipino poet Francisco Balagtas, it is also celebrated as the country’s National Literature Month.

Among the goals of the celebration is to reinvigorate and re-establish the importance of the printed word and the library in society.

Thanks to the public’s positive reception in 2016 and 2018 to the nonprofit Pop-up Library designed by WTA Architecture & Design Studio, it will come back to the park for Dia del Libro. The library allows anyone to borrow books for free and exchange them for others.

It is not just a day of books though.

At 5:30 in the afternoon, visitors will be serenaded by the Manila Symphony Orchestra which will hold a free concert called Concierto en el parque, featuring classical pieces from the Spanish and Filipino repertoire.

La Liga, the Spanish Football League, will invite visitors to score a goal in its “Chuta-Gol,” a game where they can win prizes.

Before the celebration ends, there will also be a Silent Disco for everyone.

Spanish food will be available throughout the day.

Admission to all Día del Libro activities is free on a first-come first-served basis. For more information, call 526-1482, visit http://manila.cervantes.es or www.facebook.com/InstitutoCervantesManila.

Instituto Cervantes de Manila is at Ayala Tower One & Philippine Stock Exchange Tower Plaza, Ground Floor, Ayala Triangle, Ayala Ave., Makati City.

Street art makes splash in HK

HONG KONG — From murals made famous by Instagram to painting battles, Hong Kong’s once largely underground street art scene has exploded in recent years, and is now blossoming across the city’s walls and alleyways.

The commercial high end of the art world is at the fore in March, with gallerists, collectors and celebrities descending on Hong Kong for the annual Art Basel fair.

But English mural artist Dan Kitchener, drawn to the city’s unique geography and energy, made his third visit to Hong Kong this month to depict atmospheric urban scenes with spray paint in its narrow and steep streets.

“Hong Kong’s got that feel to me — the epic scale and the skyscrapers, and then it’s got these little tiny alleyways,” Kitchener told AFP while balancing on bamboo scaffolding as he painted on the outside wall of a city bar.

Trained for many years in watercolor and acrylic painting, 43-year-old Kitchener is particularly fond of portraying neon lights, reflections and rain — sights that first captivated him in Tokyo.

He had just finished a detailed mural of a street market in the bustling Wan Chai district, before moving on to paint outside a watering hole in downtown Central.

Just opposite the bar is a mural by graffiti artist Alex Croft said to be the city’s most photographed wall, featuring rows of old townhouses on a bright blue background.

Hong Kong lacks a world-class art museum and marquee exhibitions rarely make a stop in the southern Chinese city, where it can be difficult to secure permission for public shows.

But street art has enjoyed a boost from growing demand in Asia and an increasing number of exhibitions in recent years, giving it a higher profile and more commercial spin in the city.

In 2015, a mosaic of 1970s American cartoon character Hong Kong Phooey by French artist Invader sold at auction in Hong Kong for HK$2 million ($258,000).

The popular piece of street art had been destroyed by the city’s authorities, infuriating residents, and was later recreated for sale. — AFP