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Volvo continues to pitch safety systems as brand’s key strength

VOLVO Philippines is hyping the three advanced driver assistance systems fitted to the Volvo XC60 SUV, which is available locally with a 2.0-liter turbocharged diesel engine.
The company explained the safety features are “designed to provide the driver with automatic steering assistance or support — when required — to help avoid potential collisions, and that these make the XC60 “one of the safest cars” in production.
The three safety systems are City Safety, Oncoming Lane Mitigation and Blind Spot Information.
Volvo said the XC60 received an updated version of City Safety, which now includes steering support. The function engages when automatic braking alone would not help avoid a potential collision, providing steering assistance to avoid an obstacle. Steering support, which will activate only at speeds between 50 kph and 100 kph, helps avoid collisions with vehicles, pedestrians and large animals.
Oncoming Lane Mitigation helps the driver who may have unwittingly wandered out of a lane by automatically steering the car back into the lane. This system is active between 60 kph and 140 kph.
Blind Spot Information System alerts the driver of vehicles not readily visible from within the XC60’s cabin. The system has also been upgraded to include steering assist so the car may avoid colliding with vehicles in its blind spot.
“All three… features represent clear steps in our work towards fully autonomous cars,” said Malin Ekholm, senior director at Volvo Cars’ safety center. “We have all of the benefits of the safety technology we introduced in our larger 90 Series cars in the new XC60. This is fully in line with our strategic approach to develop automotive safety systems based on real-life, real-road safety. Our vision is that no one will be killed or seriously injured in a new Volvo car by the year 2020.”
Volvo said the XC60 can also be equipped with large animal detection and run-off road mitigation, plus Pilot Assist, the semi-autonomous driver support and convenience system.

The era of wheeling and dealing on Twitter

THANKS to accessible social-media platforms like Facebook and Twitter, information dissemination has been democratized. What this has done is basically cut the middleman (or traditional media, to be exact). In the past, if people wished to announce anything to the world, they had to go to a radio or TV station and then beg said station to let them go on air for one minute to make their statement (which was usually about a missing relative or a stolen vehicle). Today, anyone — and that literally means anyone (even a jobless freeloader who happens to have a smart phone) — can fire off a similar message online and the message may then be read by folks even halfway across the globe. For free.
Brands, too, are now able to reach their customers without having to pay big advertising money to glossy magazines and old-school newspapers. If they have a huge following on social media, they can simply tweet or post their latest product or promo and their target market will be promptly notified.
Well and good. Hurray for free speech and open communication. Unfortunately, this kind of freedom has also given way to a lot of falsity in practically every aspect of our society — particularly politics and business. If you ever need proof, all you have to do is check out the state of affairs in America, supposedly the most powerful nation on the planet. The country has a sitting president who tweeted his way to the White House, and still tweets his thoughts to his supporters whenever he feels like doing so. What’s wrong with that, you ask? Well, 90% (possibly more) of what this guy says is either erroneous or misleading. And therein lies the problem: Social media removed the filter (also known as the editor, the proofreader, the fact-checker). Uneducated, gullible and stupid individuals — and there are millions of them, it turns out — are unwitting victims of the carefully manufactured lies that make it to their news feed.
I discuss this because I’m now beginning to wonder if the automotive industry isn’t in a similar boat with the likes of Tesla CEO Elon Musk, who, like Donald Trump, enjoys sharing his brain farts with his 22.4 million followers on Twitter. In 280 or fewer characters, he reveals plans and ideas about his business concerns, including his electric-car company. And this has now gotten him into trouble, legal or otherwise.
On Aug. 7, the controversial businessman tweeted about his desire to take the publicly held Tesla private at $420 a share. “Funding secured,” he added. With that single tweet, the automaker’s shares went through the roof. And so did the astonishment of the firm’s investors, who apparently had no clue as to what Musk was talking about. The posting was so unexpected that there were even speculations afterward that the Tesla boss had been smoking weed when he composed the message (‘420’ is a code for cannabis).
After Musk had moved and rocked the market with his weird tweet, it would later become clear that no such funding had been secured for Tesla’s $72-billion privatization, resulting in investors filing lawsuits and the US Securities and Exchange Commission launching an investigation. On Friday, Aug. 24, the executive disclosed he was no longer pursuing the idea of taking Tesla private. Just as the company’s shares had soared after his Aug. 7 tweet, the same took a dive upon the published reversal of Musk’s intent.
What was Musk thinking? Did he really have tangible support for his Tesla privatization plan? Or was he merely attempting to artificially inflate the company’s value to lure more investors? Musk, it should be noted, has been accused by some quarters as a scammer who runs a pyramid scheme (by attracting new investors just to compensate existing ones). With the way Tesla has missed production deadlines and failed to turn profit for years, the imputation is getting harder and harder to ignore.
In November last year, Musk claimed to have in the Tesla pipeline a 10,000-Nm electric roadster that was bound to be the world’s quickest car, citing incredible performance figures to wow the motoring community (including a 0-to-100 kph time of 1.9 seconds). He also bragged about an electric truck that could accelerate from rest to 100 kph in five seconds, and then travel 800 kilometers on just a single charge. In both cases, he offered no evidence other than his confident words and some audiovisual presentation. Automotive media outlets fell for it hook, line and sinker. Largely because they have this romantic image of Elon Musk as a real-life Tony Stark.
But is he Tony Stark or just the car industry’s version of Donald Trump? Someone who takes to Twitter to make people believe what he wants them to believe about his underachieving EV company and its prospects — truth be damned. What happens to Tesla in the coming months should provide the answer.

Senator seeks probe of unreleased CCT funds

Senator Leila M. De Lima has filed a resolution seeking investigation on Pantawid Pamilyang Pilipino Program (4Ps) beneficiaries not receiving their cash grants, which she said could have helped them amid high prices in commodities and living.
“It is imperative that the government continues to deliver an effective social welfare program and social protection mitigating mechanisms helping the poorest and marginalized households by ensuring that the funds intended for CCT are given to beneficiaries who truly need them,” Ms De Lima said in a statement on Tuesday.
The opposition senator has signed Senate Resolution No. 850 which seeks to investigate the unreleased P1.323 billion under the 4Ps for a period that ranges from 30- to 2,190 days after payout.
Ms. De Lima, who’s the chair of Senate Committee on Social Justice, Welfare and Rural Development, stressed, “The failure of these funds to reach qualified beneficiaries is an inefficiency that we cannot afford to have as many of our countrymen are in dire need of assistance, especially now that we are experiencing crippling levels of inflation.” — Gillian M. Cortez

ISM sells 30% of shares for P1.22 billion

ISM Communications, Inc. is selling around 30% of its shares to a Singapore-based fund management firm for P1.22 billion, a few weeks after it sold a majority stake in the company to businessman Dennis A. Uy.
In a disclosure to the stock exchange on Tuesday, ISM said its executive committee has approved Accion Common Development Fund SPC’s purchase of 841.95 million treasury shares in the company at P1.45 apiece. This represents 30.07% of the company’s resulting outstanding capital.
The company said a fourth of the acquisition price will be paid upon purchase. ISM’s executive committee mandated that the sale and purchase documents be executed no later than the end of September. The remaining 75% will be paid by the end of the year. — Arra B. Francia

SEC warns public against illegal lending firms

The Securities and Exchange Commission (SEC) has warned the public against investing in Almasai Finance and Investment and EMMRJ Lending Investors Corp. or EMMRJ Loan Consultancy Corp., saying none of these firms are licensed to solicit investments or act as lenders.
In an advisory posted on its website, the SEC said it received information that EMMRJ Lending has been presenting itself as a lending company despite not being registered as a corporation or partnership with the commission.
EMMRJ Loan Consultancy was also found to be soliciting investments from the public. The entity however does not have the authority to invite investments, as it does not have the necessary secondary license or permit required by law.
With this, the SEC may prosecute and hold criminally liable those who act as salesmen, brokers, dealers, or agents of EMMRJ Lending and EMMRJ Loan Consultancy. This entails a maximum fine of P5 million or a penalty of up to 21 years or both, as per the Securities Regulation Code (SRC).
Meanwhile, the SEC also warned the public against investing in Almasai Finance and Investment or Almasai Equity Holdings, Corp., which is being used as an investment vehicle for a non-government organization called Sangguniang Masang Pilipino International Inc. (SMPII). — Arra B. Francia

DoTr seeking end of arbitration case on NLEX toll adjustments

The Department of Transportation (DOTr) said it is asking NLEX Corp. to terminate its arbitration case regarding the overdue toll adjustments for the North Luzon Expressway (NLEX), in favor of staggered toll hikes.
“The general approach, papunta na po sa settlement yan. Hinihingi namin yung arbitration, mawala yung kaso. Ang pagkasunduan na lang namin, yung mekanismo kung pano mapapaimplement yung contractual provision regarding increases,” DOTr Secretary Arthur P. Tugade said in a panel session during the annual Economic Journalists’ Association of the Philippines Forum in Manila on Tuesday, Aug. 28.

Online hiring up in second quarter — report

Online hiring in the Philippines went up year-on-year in the second quarter but has slightly declined compared to the previous quarter due to lingering concerns on rising inflation, research firm Monster.com said.
In its second quarter Monster Employment Index (MEI), Monster noted in a year on year comparison, the months of April, May and June post an increase by 12%, 7% and 11%, respectively.
However, due to the stronger performance in the first quarter, the second quarter’s performance declined by 3%.
“Although it may not meet the government’s targets, the Filipino economy is performing well and on a solid growth trajectory, which is reflected in a steady demand for talent and online recruitment activity,” Monster said.
Online hiring for advertising, market research, public relations, media and entertainment in the Philippines posted the fastest growth in the months of April (21%), May (10%) and June (13%) compared to Malaysia and Singapore, Monster said.
“While a comparison with 2017 is positive, the sector decreased by 11% compared to the first quarter of the year. However, this is largely due to a very strong quarter, as the general upwards trend continues,” the research firm added.
Likewise, the Philippines also came out as the leader in the HR and administration sector. One of the industries with the largest online hiring demand since the start of 2018, HR and administration posted a 20% growth. However, demand for talent has decreased by 10% in the second quarter from the first.
Monster said that it will continue to be a priority in the second half of the year in Southeast Asia.
Over all trend, however, still posted double-digit growths year on year in the months of April, May and June by 28%, 24%, and 25, respectively.
Monster noted that despite the high demand for HR and administration, the “looming cloud-based HR tech solutions this sector may be disrupted in the near-future.”
The Philippines also saw a weaker performance in the second quarter for information technology and business process outsourcing sector, stagnating at a 9% growth all throughout the three months. This is 4% lower from first quarter results which noted a strong online hiring activity.
Monster noted that as this sector has always been a strong contributor to the country’s economy, it can further add to the Philippines’ advantage amid the US-Chine trade war.
Online hiring for banking, financial services and insurance in the Philippines registered double-digit growth in the second quarter, the highest being on April at 22%. Compared to the first quarter’s stronger performance, however, this is a 2% slip.
The research firm noted that as the inflation rate continues to rise, this might destabilize the sector.
Despite a slightly slower quarter on quarter growth, Monster said that the Philippines will continue to see a “healthy second half of the year” for online recruitment. — Anna Gabriela A. Mogato

United Paragon Mining bags exploration permit for Camarines Norte mining site

The Department of Environment and Natural Resources has issued United Paragon Mining Corp. (UPM) an exploration permit for its Camarines Norte property.
In a disclosure to the Stock Exchange on Tuesday, Aug. 28, UPM said that it has received the exploration permit which was issued by DENR’s Mines and Geosciences Bureau (MGB) last Aug. 20.
UPM has exclusive rights to operate on Camarines Minerals, Inc.’s 395-hectare property in Longos, Paracale, in Camarines Norte through an operating agreement.
“In 2016, UPM amended its application to conform to DENR-MGB’s policy on meridional blocking thus expanding the applied area from 395 hectares to 580.272 hectares,” the company said.
“However, in the same year, DENR Secretary Gina Lopez issued a memorandum order that covered the extensive audit of all mines as well as the moratorium on new mining projects.”
The moratorium halted the acceptances, processing and approval of all exploration for metallic and non-metallic minerals.
It was only last July when it was lifted under President Rodrigo R. Duterte’s order to improve the competitiveness of the mining industry despite threatening to “shut down” all mining operations due to environmental degradation. — Anna Gabriela A. Mogato

Should your restaurant start offering delivery?

As the digital era continues to take over Filipino life, more opportunities are becoming available to food brands looking to get their menu offerings into the hands (and mouths) of hungry customers all over the metro.
Food delivery is going beyond its status as simply an add-on for restaurants, becoming a necessity in the industry globally. According to international information firm The NPD Group, foodservice delivery in the United States has been taking in sizable gains in terms of visits and sales over the last five years, despite the general weakness of the market.
“Delivery has become a need to have and no longer a nice to have in the restaurant industry,” Warren Solochek, The NPD Group senior vice-president for industry relations, said. “It has become a consumer expectation.”
“Convenience is among the chief reasons that consumers visit restaurants, and delivery brings a heightened level of it,” Mr. Solochek said. “We forecast that delivery will grow over the next five years and the growth will source to non-traditional delivery outlets and dayparts.”
In the Philippines, the availability and the growth of services like Foodpanda, Honestbee, and The Delivery Guy is proof enough that such international trends are making their way here. The restaurant landscape is changing fast, and sooner or later Filipino brands will have to adapt.
When ride-sharing and logistics services giant Grab Philippines unveiled its smart city vision to “empower a future of seamless mobility,” on-demand food delivery services were one of the company’s top priority services to be integrated into its app.
According to Grab, its existing and new delivery partners from its already-thriving GrabExpress courier service, can generate additional income and job opportunities from delivering food orders on top of delivering parcels.
The company also plans to go beyond just delivering food, by providing restaurants with their own online and mobile storefronts. By leveraging their fleet of delivery partners, Grab hopes to help eliminate the need for restaurants to rely solely on foot traffic for their revenues.
With more and more Filipinos moving online, small food enterprises might want to look into mobile services that can help them make the digital leap and tap those migrating consumers.

Gov’t sets pledging for Marawi rehab

Marawi
AFP

THE GOVERNMENT will hold a pledging session in November to seek funds from development institutions for the rehabilitation of battle-scarred Marawi city.
The Department of Finance (DoF) said in a press release on Monday that “the pledging session to be held in the latter part of November would support the implementation of the Bangon Marawi Comprehensive Rehabilitation and Recovery Program.”
This was after a Philippine delegation led by Cabinet officials met with their counterparts in China last week to discuss such possible financing and invite Beijing to participate in the pledging session.
Finance Secretary Carlos G. Dominguez III was quoted as telling Chinese Commerce Minister Zhong Shan: “Your government’s active support and participation would be highly appreciated,” during their meeting. “We acknowledge… that China was among the first countries to respond to our immediate requirements in our recovery and reconstruction efforts in Marawi City.”
China donated $3 million worth of heavy equipment for Marawi’s rehabilitation in October last year, which “immensely helped in preparing the temporary shelters for the city’s displaced residents,” according to the DoF.
October marked the end of the five-month-long battle in Marawi between Philippine forces and Islamic State-inspired militants.
OTHER FUNDS
Latest data from Task Force Bangon Marawi put overall cost of the city’s rehabilitation at about P86.5 billion, including government-led construction outside the most affected area, rebuilding of ground zero under a public-private partnership, as well as livelihood assistance.
So far, P10 billion has been allocated in the 2018 budget for the rehabilitation of the city.
Aside from the pledging session, the government will also raise funds via sale of retail Treasury bonds earmarked for the reconstruction.
Mr. Dominguez has said that the DoF is considering to float P40 billion worth of such bonds through tranches of P10 billion annually.
“We will issue it definitely in tranches because we should not borrow more than what we need for that year… We already have P10 billion budgeted so we will… get more details on how much is actually required and at what dates,” the Finance chief said.
The National Economic and Development Authority has said that as of June, the United States, Spain, Australia, the World Bank and the Asian Development Bank have indicated their interest to provide funding support.
The Japanese government has already provided a ¥2-billion grant under an agreement that was inked in May. — Elijah Joseph C. Tubayan

Statistics body: GDP rebasing to wait

THE PHILIPPINE STATISTICS AUTHORITY (PSA) will hold off till 2020 the use of a new baseline for measuring economic growth.
National Statistician Lisa Grace S. Bersales said the agency has pushed back the planned rebasing of national income accounts, including data for measuring gross domestic product (GDP) growth, to the later period.
“We expect that the rebasing of national accounts will be finished by 2020,” Ms. Bersales said in an interview on the sidelines of a media briefing on Friday last week.
The PSA chief said that the agency is looking at using 2018 as the new base year for GDP and, eventually, for inflation.
To recall, the PSA adjusted the consumer price index (CPI) used in tracking inflation. Starting this year, readings on price movements have been adjusted in comparison to 2012 as base year.
GDP and related macroeconomic data remain pegged against 2000 prices.
“This year is the Family Income and Expenditure Survey — that’s the basis of the CPI basket. So we are still discussing na baka ‘yung National Income Accounts ay i-2018 na namin, and when the CPI is rebased, it will be 2018 as well,” Ms. Bersales added.
The choice of the new base year will be finalized “within the year,” subject to the approval of the PSA Board which is the highest policy-making body of the agency. Ms. Bersales noted that they once considered using 2015 as the new base year, but this was thumbed down by the board.
PSA officials have said they are also looking at using 2012 as the new base year for national income accounts in order to reflect a “more comprehensive” data set to capture emerging developments in the economy. These talks have been ongoing since 2015, but such changes have not been adopted.
For CPI, an updated base would introduce new items into the theoretical basket which are more representative of what a typical Filipino household spends on regularly and removes those that are no longer purchased as frequently.
For GDP, using an outdated base could mean that the growth of an economy may be “underestimated,” especially as new industries may not be captured by the old method.
This includes sectors with growing prominence like information and communication technologies, business process outsourcing as well as e-commerce.
The PSA reports GDP growth on a quarterly basis as a general measure of the Philippine economy’s performance.
The economy expanded by a slower-than-expected six percent last quarter, taking last semester’s expansion to 6.3%.
Those latest GDP readings compare to the 6.6% clocked in the second quarter and the first semester of last year, as well as the government’s target of 7-8% for full-year 2018. — Melissa Luz T. Lopez

Philippines eyes extra rice imports amid ‘crisis’ in Mindanao

smuggled rice
An Aug. 2 handout photo of the Customs bureau shows its head, Isidro S. Lapeña, inspecting smuggled rice seized at a warehouse in Calamba, Laguna.

THE GOVERNMENT’s Agriculture chief said on Monday that he has proposed the importation of an additional 132,000 tons of rice by the private sector to address “very limited” supplies of the staple food in the country’s southern provinces.
Agriculture Secretary Emmanuel F. Piñol said he had formally recommended the “special” importation to President Rodrigo R. Duterte, and the National Food Authority (NFA) Council would meet on Tuesday to consider the request.
The Philippines’ additional demand for rice could help underpin export prices in Vietnam and Thailand, traditionally its main suppliers, which have already shipped in more than 1 million tons this year.
In Vietnam, export prices of rice have been flat this month after falling steeply in June and July, although traders have reported rumors about possible new deals with the Philippines.
Mr. Piñol said residents of the provinces of Tawi-Tawi, Sulu and Basilan and Zamboanga City in Mindanao have been scrambling for rice supplies in recent weeks following a crackdown on smuggling.
The southern regions have for years relied on smuggled rice believed to come from Vietnam and Thailand, shipped via the Malaysian state of Sabah, forcing local farmers to quit rice growing, he said.
Malaysia’s Prime Minister Mahathir Mohamad and Mr. Duterte met last month and agreed to stop smuggling activities in the countries’ borders, he said.
The end of smuggling was a success in the government’s campaign against illegal activities, but it had resulted in a crisis, Mr. Piñol said in a statement posted on his Facebook page.
Last week, Zamboanga City and Isabela City in Basilan declared a state of calamity, citing the high prices of rice, he said.
He described the situation in Tawi-Tawi as “precarious” as residents lined up for rice at prices as high as P100 per kilogram, almost triple the price of government-subsidized rice.
“The rice crisis was declared to have ended the other day in Zamboanga City with the arrival of new rice stocks from farmers cooperatives… and the NFA, (but) Basilan, Sulu and Tawi-Tawi are still gripped with very limited supply of rice,” Mr. Piñol said. — Reuters

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