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Power at 200 meters

Solar panels on rooftops. Wind turbines on hilltops. Renewables joining a power grid that still runs, at its core, on coal and gas. The targets sound good: 35% clean energy by 2030, 50% by 2040. Meantime, electricity remains expensive and reserves thin for a growing economy.

Perhaps we are looking in the wrong direction. Maybe the answer is not above us, but below. Last December, scientists from the University of the Philippines Marine Science Institute (UP MSI) went deep into the southern Philippine Seas. I believe what they found changes everything.

Where they went, the temperature difference between warm surface water and cold deep water is large enough to generate electricity at just 200 meters down. Everywhere else in the world, you need to go maybe 800 to 1,000 meters to get the same result. They got there in a quarter of the distance.

Here is how it works. Warm water sits near the surface, where it gets more exposure to the sun. Cold water sits far below. That temperature difference, at least 20 degrees Celsius between top and bottom, can drive a turbine the same way steam drives an engine. Except the ocean is the boiler, and it never runs out of fuel. This is called Ocean Thermal Energy Conversion, or OTEC.

In reporting on their discovery, Dr. Charina Lyn Amedo-Repollo, who leads the Physical Oceanography and Observation Laboratory at UP MSI, said: “The strong surface-to-deep temperature contrast observed in the southern Philippine Sea meets the thermal requirements for OTEC, indicating high potential for continuous baseload renewable energy.”

That last phrase, “continuous baseload,” is the one that matters most to me. Solar power stops when the sun goes down. Wind power stops when the air is still. Without enormous and expensive batteries, neither can guarantee that the lights stay on around the clock. OTEC can. It can provide baseload power, like plants that run on coal and natural gas. It can run day and night, rain or shine, storm or calm. It is the clean energy source that works like a regular power plant: always on, always producing.

And, from what I have gathered, the 200-meter finding is not a small detail. The pipe that pulls cold water up from the deep is the most vulnerable part of any OTEC system, especially in a country hit regularly by typhoons and earthquakes. A shorter pipe can be a stronger pipe. What was once an engineering problem too expensive and too risky to solve becomes, at 200 meters, a problem we can actually tackle. We would not have to go 1,000 meters deep.

The MSI team found more than just a useful temperature gap. They also mapped unknown earthquake faults off Palawan, an area long thought to be geologically safe, and found underwater volcanoes in the Sulu Sea releasing gases from the seafloor.

In a talk regarding the discovery, Dr. Fernando Siringan, who leads the Geological Oceanography Laboratory, said that “anywhere you have gas seeps and hydrocarbon seeps, the biodiversity is relatively unique, that’s why it’s an area of interest for both geologists and biologists.”

The Palawan fault discovery actually strengthens the case for OTEC. If we are weighing nuclear plants or expanded gas pipelines against the background of hidden earthquake risks, a technology that uses nothing but ocean temperature, with no radioactive fuel and no volatile gas, starts to look not just clean but safe.

Admittedly, OTEC is expensive to build. That is why it has not been commercially pursued. The pipes, platforms, and machinery account for more than half the upfront cost. Studies indicate that the price per unit of electricity has historically been higher than what comes off the current grid.

But at the same time, that cost does not discount the cost of negative externalities such as the health burden of breathing air polluted by coal plants. It does not discount the economic risk of buying coal from other countries at prices we cannot control. And it does not consider the 200-meter advantage the MSI researchers have just discovered.

Factor all of that in, and maybe an OTEC plant will look like a reasonable investment for a country that needs power it can count on. Researchers, energy experts, and policymakers will all have to weigh in on this. But, to date, there are positive indicators that OTEC may now be feasible.

OTEC also produces clean drinking water as a byproduct. Desalination is part of the OTEC process. Warm surface seawater enters a low-pressure vacuum chamber where it flashes to steam, leaving salt behind. The pure steam drives a turbine for power, then condenses using cold deep water, yielding desalinated freshwater alongside electricity.

My understanding is that the cold water OTEC pumps up can also be used for growing high-value seafood. Thus, in remote parts of Mindanao or along the eastern coast, an OTEC plant is not just a power source. It is also a water supply and a food system. OTEC thus becomes a lifeline.

What is holding back OTEC is not the science, not the geography, but the lack of support for more marine science research. To further determine viability, a pilot plant must be established. MSI has done its part by identifying suitable locations. Further research can help generate data that will help policymakers make an informed decision.

Further to this, we need a national pilot program targeting the southern Philippine seas so that we can turn this research into an actual power plant, or a government policy that treats Ocean Thermal Energy Conversion as a strategic national priority rather than just an interesting science project.

Think of it this way: the southern Philippine seas are strategic energy reserves. The power is there, at 200 meters below, waiting to be tapped. The only thing missing is government foresight and the will to go get it. With state policy and support in place, the private sector will not be far behind with funding.

 

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

matort@yahoo.com

Meta acquires AI agent social network Moltbook

FACEBOOK parent Meta Platforms said on Tuesday it had acquired Moltbook, a social networking platform built for artificial intelligence (AI) agents, bringing the company’s founders into its AI research division.

The development signals an intense race among tech giants to snap up AI talent and technology, as autonomous agents capable of executing real-world tasks move from novelty to the next frontier of the industry.

The deal will bring Moltbook co-founders Matt Schlicht and Ben Parr into Meta Superintelligence Labs, the unit led by former Scale AI CEO Alexandr Wang.

Mr. Schlicht and Mr. Parr are expected to begin at Meta Superintelligence Labs on March 16, according to Axios, which first reported the development.

Meta did not disclose financial terms of the deal.

Moltbook, a Reddit-like site where AI-powered bots appear to swap code and gossip about their human owners, was started as a niche experiment in late January.

It has since become the center of a growing debate on how close computers are to possessing human-like intelligence.

OpenAI CEO Sam Altman played down the site as a likely fad but said the underlying technology offered a glimpse of the future.

“Moltbook maybe (is a passing fad) but OpenClaw is not,” Mr. Altman said.

OpenAI last month hired Peter Steinberger, the creator of OpenClaw, an open-source bot formerly known as Clawdbot or Moltbot that is backing the project’s open-sourcing.

Mike Krieger, Anthropic’s chief product officer, said most people are not yet ready to give AI full autonomy over their computers.

Mr. Schlicht has championed “vibe coding,” building programs with the help of AI, saying he “didn’t write one line of code” for the site.

Mr. Schlicht built Moltbook largely using his own personal AI assistant, Clawd Clawderberg.

Moltbook’s rise also brought risks. Cybersecurity firm Wiz said the approach left a major flaw that exposed private messages, more than 6,000 e-mail addresses and more than a million credentials.

Wiz said the problem was fixed after it contacted Moltbook. Reuters

PITX passenger traffic seen reaching up to 60 million this year

BW FILE PHOTO

THE PARAÑAQUE Integrated Terminal Exchange (PITX) may accommodate up to 60 million passengers this year as it manages capacity and sustains traffic across existing routes, Megawide Construction Corp. said.

“Right now, we are at 180,000 a day. I think in a year we could reach close to 60 million, [around] 55 million to 60 million. I think we have reached a plateau already. So, unless something new happens, more or less, that is the level,” Megawide Chief Business Development Officer Jaime Raphael C. Feliciano told reporters on Wednesday.

He said the projected passenger volume will mainly depend on how the landport manages capacity within its existing route network.

“The new routes are common; it happens on a regular basis. We are trying to manage the capacity because long-haul passengers are assigned [at a zone that is cramped]. We are trying to manage that,” he said, adding that PITX is not actually getting new routes but is focusing on managing its current capacity.

The landport served 127 million passengers between 2019 and 2023.

PITX is the country’s first landport and is operated by Megawide’s MWM Terminals, Inc. under a 35-year build-transfer-operate contract.

In 2024, PITX added six routes, including destinations such as Tuguegarao City, San Carlos City, and Dagupan City in Pangasinan, as well as San Pedro and Southwoods in Laguna and Guimaras in Western Visayas, expanding its network to about 100 routes. — Ashley Erika O. Jose

CIBI, FinTech Alliance.PH launch fraud intelligence sharing network

PHILSTAR FILE PHOTO

CREDIT BUREAU CIBI Information, Inc. has partnered with the FinTech Alliance.PH to launch the Fraud Intelligence Data Sharing (FIDS) Network starting with nine members.

The nine initial members are BDO Unibank, Inc.; Rizal Commercial Banking Corp.; Salmon Bank (Rural Bank), Inc.; HSBC; GoTyme Bank; UNObank, Inc.; Maya Bank, Inc.; SB Finance, Inc.; and ABUM, which is a micro, small, and medium enterprise (MSME) lending company, FinTech Alliance.PH Chairman Angelito “Lito” M. Villanueva said at a media briefing on Wednesday.

CIBI President Pia L. Arellano said she hopes more institutions, even those outside the financial services sector, join the FIDS network to increase the quality of data in the system.

“The success of FIDS really is dependent on how big an ecosystem of data contribution we can create at this point. The more people join, the more data we contribute, the more we can prevent and detect fraud.”

She added that other industries where fraud is prevalent, such as telecommunications, can contribute data and benefit from the network.

“We don’t want to limit it to just the financial services sector. Fraud is a common enemy for all, regardless of industry. We need the likes of GlobeSmart and all the telcos participating here. We need insurance and other industries as well.”

The FIDS Network uses CIBI’s platform to enable contributing members to detect and prevent fraud through shared real-time data.

Members get real-time alerts if data from an applicant has been flagged elsewhere through a shared database, which is built via the contribution of verified fraud information including confirmed and suspicious activities.

Ms. Arellano said the platform being used for the network has been used in Malaysia and Korea.

“And in Korea, this consortium that they put together has been running for about 10 years already,” she said. “In terms of actual fraud saves, it’s $2 billion in fraud saves since its inception.”

CIBI is offering a free six-month trial period for institutions looking to sign up for the FIDS Network.

“Right now, what we really want to make sure is all of us collectively, all the members as well, find value into it. Value could be in terms of, how much fraud did I stop from happening? How many transactions did not go through because of the consolidated data?” Ms. Arellano said. — Aaron Michael C. Sy

Caviar and comfort food on the menu for A-listers on Oscars night

LOS ANGELES — Celebrity chef Wolfgang Puck has prepared a feast of more than 70 dishes for film stars and moviemakers at Sunday’s Governors Ball, held after the Oscars ceremony.

Mr. Puck and his team, in charge of the official Oscars after-party catering for the 32nd time, have put together a menu that offers 1,500 A-listers tastes from around the world.

A live izakaya station, or Japanese-style pub, and an Italian gelato machine whipping up fresh ice cream will be among the novel offerings, along with popular staples that feature year after year.

“Comfort food is always the people’s favorite food, like our chicken pot pie, smoked salmon pizza, our macaroni and cheese or the mini Wagyu burgers,” Mr. Puck said at a preview event on Tuesday.

Trying to be innovative did not always pay off, he added.

“I did some parties saying, ‘I’m tired of making the pizzas,’ and they ate our stuff and they said, ‘Wolfgang, where’s your pizza station?’”

The glamorous guests are often famished by the time they arrive at the post-Oscars bash, Mr. Puck said.

“It’s all about the quality of the ingredients and the quality of the dishes,” he said. “We have to cook for 1,500 people. We keep it simple. We don’t need 10 sauces with it.”

Putting together the banquet requires 75 savory chefs, 45 pastry chefs, and 325 front of house staff and managers, Mr. Puck added.

They will be responsible for some 600 homemade pizzas, 3,000 artichoke agnolotti, and 2,000 mini chocolate Oscars.

Mr. Puck estimates the kitchen gets through about 200 pounds (91 kg) of dry-aged ribeye, 300 pounds (136 kg) of house-smoked salmon, 30 pounds (14 kg) of Kaluga caviar, 500 pounds (227 kg) of wild mushrooms, 200 pounds (91 kg) of Nishiki rice, and 400 pounds (181 kg) of cheeses.

There’s also two gallons of 24K liquid gold — put to use at a chocolate Oscar spraying station. — Reuters

How Pokémon and Resident Evil rewrote gaming history

PNGIMG.COM

By Gearoid Reidy

IN THE SPACE of just 23 days three decades ago, two initially unassuming releases changed videogames forever.

On Feb. 27, 1996, Pokémon Red and Green first hit Japanese shelves. The role-playing titles were the original entries in a series that would grow to become what is now considered the top-grossing media franchise in the world, worth more than Mickey Mouse or Star Wars.

Just three weeks later, Capcom Co. released Biohazard, better known outside Japan as Resident Evil. There was no cuddly Pikachu here, with the title a bloody experience that sought to make players feel the tension of being hunted by zombies. Almost 30 years on, gamers still can’t get enough. The critically acclaimed latest entry, Resident Evil Requiem, sold 5 million copies in five days after its release last month, the fastest ever pace. The series has shipped more than 180 million units in total.

1996 was a seminal year for gaming, an era of rapid iteration and change that stands in contrast to the tedious yearslong development schedule of today. Yet other franchises that emerged at the same time to dominate the decade, from Crash Bandicoot to Quake to Tomb Raider, have fallen into obscurity. It’s a testament to their patient stewardship — and a lesson to publishers everywhere.

RESIDENTEVIL.FANDOM.COM

As games, they have little in common. Having been in production for six years, an eternity in an era when games were often assembled in months, the kid-focused Pokémon was the last gasp of Nintendo Co.’s Game Boy platform. Resident Evil, meanwhile, was developed by an inexperienced team experimenting on the then-new PlayStation platform, a horror plot that drew inspiration from the movies of Alfred Hitchcock. Both, however, were thought of as long shots.

The influence of both titles extends well beyond games. Pokémon, which wasn’t released outside Japan until 1998, has been described as a “Rosetta Stone” that led directly to today’s anime boom. Initially, it was viewed a curiosity that obsessed kids and baffled adults, as memorably captured in a South Park episode that mocked the late ’90s obsession. But unlike other fads, it endured — and would prove a harbinger of how Japanese pop culture would come to be the lingua franca of Western youth.

Resident Evil drew inspiration from Western movies, particularly the zombie films of George A. Romero, such as Dawn of the Dead. But by the 1990s, zombies had become the stuff of camp and parody, with horror moving toward meta trends like Scream, released later that year. The Japanese game’s success would reestablish the zombie as a horror mainstay, paving the way for everything from 28 Days Later to The Walking Dead. And despite its poorly translated script and legendarily hammy voice acting, it was nonetheless a landmark as games moved from cartoon action to the cinematic experiences targeted at adults.

What is the secret that makes these two so relevant three decades on?

First is a careful shepherding that gives fans what they want, while also updating the template. Resident Evil has fully reinvented itself at least twice, moving toward a more action-based formula, then later leaning further into its horror roots. Pokémon has stuck closer to a tried-and-true formula, and while the most recent major release, Scarlet and Violet, may have received mixed reviews, they became the second-best selling of the series. But it experiments, too: The latest spinoff, the Animal Crossing-like Pokémon  Pokopia, is attracting rave reviews since its release on the Switch 2 last week, reigniting the franchise ahead of the launch next year of the newest mainline entries, Winds and Waves. Nintendo’s shares surged more than 10% in Tokyo on Wednesday as the market took note of Pokopia’s success.

They also show the importance of a multimedia strategy. Comics, anime and trading cards were crucial to Pokémon’s early success, making the series unavoidable and creating familiarity with the characters. And while the schlocky Resident Evil movies might have borne little resemblance to the games, they were still profitable and increased awareness of the brand. A new take helmed by acclaimed horror director Zach Cregger will hit movie theaters later this year.

And for all their success, both have left money on the table. In their quest to constantly juice the next quarter’s earnings, many publishers give gamers too much of a good thing.* But both Pokémon and Resident Evil have staggered their mainline releases — the major chapters of the franchise — with just nine entries in three decades, while using spin-offs, remakes and side adventures to keep players (and investors) engaged.

Pikachu and flesh-eating zombies might seem to have little in common. But they show that great ideas, if handled with care, don’t get old.

*Consider how Ubisoft Entertainment SA has milked Assassin’s Creed with 14 mainline titles in just 18 years, leaving audiences bored and the firm in increasing trouble.

BLOOMBERG OPINION

NLEX sees traffic decline as fuel prices rise

PHILIPPINE STAR/ MICHAEL VARCAS

NLEX CORP., a unit of Metro Pacific Tollways Corp. (MPTC), expects its traffic volume to decline by about 1% due to rising fuel prices linked to the conflict involving Iran.

“In the previous cases during the oil price hikes, there is usually a slowdown in traffic, probably around 1% to 1.5%,” NLEX President and General Manager Luis S. Reñon told reporters on Wednesday during an inspection of Metro Manila Skyway Stage 3 (MMSS3).

He said the tollway operator expects average daily traffic of around 350,000 vehicles but noted that the company may fall short of its projected volume if fuel prices continue to increase.

“Hopefully, we are going to work with the DoTr (Department of Transportation) in the hope of giving haulers, truckers (some relief). We are looking into the possibility of probably providing them some kind of rebates,” he said.

Meanwhile, the Department of Public Works and Highways (DPWH) said the P2.82-billion Section 2A of the MMSS3 project is expected to be completed by the second quarter of next year.

The MMSS3 project is an elevated toll road connecting Makati City to the North Luzon Expressway (NLEX) in Balintawak, Quezon City. Its elevated roadway structure will link to the NLEX-SLEX Connector Road project.

“The commitment of San Miguel and Metro Pacific is by the second quarter or the latest is the middle of next year, it is finished,” Public Works Secretary Vivencio B. Dizon said.

According to the Public-Private Partnership (PPP) Center, the skyway project’s concessionaires are Citra Central Expressway Corp. and Metro Manila Skyway Corp. Meanwhile, the NLEX-SLEX Connector project is being undertaken by NLEX Corp., a unit of Metro Pacific Tollways Corp.

MPTC is the tollway unit of Metro Pacific Investments Corp., one of three Philippine subsidiaries of Hong Kong-based First Pacific Co. Ltd., alongside Philex Mining Corp. and PLDT Inc.

Hastings Holdings, Inc., a unit of the PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., holds a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose

AT&T outlines $250-billion US investment plan to boost infrastructure in AI age

AT&T will spend more than $250 billion over five years in the US to expand its network infrastructure and will hire thousands of technicians this year, it said on Tuesday, as telcos ramp up investments to support surging data demand.

Rapid adoption of artificial intelligence (AI), cloud computing and connected devices has prompted telecom operators to invest heavily in fiber and 5G networks as they also seek to fend off intensifying competition from cable broadband providers.

AT&T, which has about 110,000 employees in the US, said the new hires will help build and maintain its infrastructure.

The outlay includes capital expenditure and other spending, the company said.

The spending will focus on expanding its fiber and wireless networks, including accelerating deployment of fiber broadband, 5G home internet and satellite connectivity to extend coverage across urban, suburban and rural areas.

“It has to spend hard, but it also has to spend smart … and its partnership with AST SpaceMobile is something investors will be keeping a close eye on,” said Danni Hewson, head of Financial Analysis at AJ Bell.

AT&T invested more than $145 billion in its wireless and wireline networks between 2019 and 2023 as telecom operators raced to expand high-speed connectivity.

The spending push comes alongside federal broadband initiatives created under the 2021 infrastructure law, including the $42.5-billion Broadband Equity, Access, and Deployment Program.

However, the rollout of funding has faced delays due to a combination of implementation challenges and policy changes under the Trump administration. 

AT&T has secured the largest share of BEAD funding for fiber build‑outs, winning about $1.06 billion, according to New Street Research.

Fiber broadband has become a key battleground between carriers and cable providers as they jostle to cater to demand from home internet customers.

Comcast, a key AT&T rival, is defending its subscriber base while undergoing strategic changes. The company on Tuesday began a $5.9-million network‑expansion project in Greater Hartford and Middletown, set to finish later this year.

Meanwhile, Verizon has accelerated its fixed‑broadband expansion after completing its acquisition of Frontier Communications earlier this year and is rolling out limited‑time discounted bundles to attract customers.

AT&T is also working with satellite partner AST SpaceMobile to expand connectivity to remote regions where traditional network infrastructure is difficult to deploy.

The company said it would continue spending on the FirstNet network built for first responders and bolster investment in network security and artificial intelligence-driven threat detection. — Reuters

Dining In/Out (03/12/26)


Newport World Resorts celebrates women

THIS MARCH, Newport World Resorts honors women with a month-long celebration inspired by International Women’s Day. At Hilton Manila Newport World Resorts, indulgence takes form in the Lavender Berry Whole Cake (P2,400 net) and Mini Cake (P450 net), complemented by signature cocktails including the Rose Chamomile Spritzer at Madison Lounge and Bar, Fiery Lady at the Port Bar, and Tropical Summer at the Freestyle Pool Bar. Each creation costs P500 net. Casa Buenas raises a toast to the season with its Paraiso Glow, a golden pineapple-peach blend with cranberry and fresh grape sweetness, available at P280 net until April 30. The spirit of celebration carries into the evening at The Whisky Library, where Ladies’ Night runs every Wednesday from 9 p.m. to 1:30 a.m. with unlimited drinks from a menu of classic and frozen cocktails or they can craft their own Tonic Temptress from a lineup of gins, artisanal tonics, and botanicals at P1,200 net. Meanwhile, the Gordon Ramsay Bar & Grill Philippines offers a Ladies’ Lunch through its 48-Minute Lunch Express Menu, available Mondays to Fridays from noon to 5 p.m. The menu features modern British highlights such as the Braised New Zealand Lamb Shoulder and Slow-roasted Pork Belly, with desserts including the Salted Peanut Butter Mousse and House-made Cannoli. The 48-Minute Lunch Express Menu is priced at P1,488 for two dishes or P2,488 for three dishes with a complimentary drink. For more information, contact 0917-147-6576 or e-mail reservations@gordonramsayrestaurants.com.ph. For more information on Newport World Resorts, visit www.newportworldresorts.com.


Morton’s The Steakhouse adds to menu

WINE AND DINE at Morton’s The Steakhouse and discover new premium additions to its menu that are designed to bring a sexier vibe to its fine dining reputation. These include French Oscietra Caviar, prized for its lightly nutty flavor and delicate brininess, which is served with finely chopped egg whites and yolks, crème fraîche, and warm buttered bruschetta. Then there is Seared Foie Gras served with a balsamic glaze, fresh arugula, orange segments, pickled onions, and warm buttered bruschetta. The restaurant also now serves a naturally sweet 36-oz Whole Baked Lobster prepared Thermidor-style with beurre blanc, Swiss cheese, and clarified butter. Finally, a fork-tender Veal Shank is another addition. Slow-braised and marrow-infused, it is served atop a bed of mashed potatoes. Morton’s The Steakhouse is open from 11 a.m. to 3 p.m. for lunch service, and 3 to 11 p.m. for dinner. Reserve a table via mortons.com.ph or directly call at 0917-144-9415.


Iced Lemon Fruit Teas for summer at Chagee

CHAGEE is welcoming its first Philippine summer with a fruity splash from the latest addition to its local lineup. The global milk tea store is now bringing to Manila its Iced Lemon Fruit Tea series — infused with real fruit flavors and brewed tea. The series is a permanent addition to the lineup and is the third internationally available flavor the tea chain has brought to the market since its Philippine debut last August. The summer series introduces three flavors: Jasmine Lemon Tea, Da Hong Pao Lemon Tea, and Glutinous Lemon Tea. Peach Oolong Brewed Tea, the latest brewed tea offering, is also joining the menu. The Jasmine Lemon Tea pairs premium jasmine green tea with crisp lemon juice. Da Hong Pao Lemon Tea combines bold, roasted da hong pao tea leaves with zesty lemon, while the Glutinous Lemon Tea blends high-mountain green tea with the subtle sweetness of glutinous rice aroma, and lemon. Peach Oolong Brewed Tea highlights fragrant oolong tea with gently roasted notes, complemented by a subtle peach sweetness. From March 13 to 31, walk-in customers and Chagee app customers are treated to a free Lemon Leather Charm with a purchase of any three Large Iced Lemon Fruit Teas. Grab customers can also get the charm with a P199 top-up. Customers also get a chance to take home a Summer Drawstring Pouch for every purchase of one Large Iced Lemon Fruit Tea with a top-up of P499 and P599 for Grab users. Customers can also take home the summer-exclusive Bucket Hat with a purchase of one Large Iced Lemon Fruit Tea and a top-up of P699 for walk-in and app orders, and P799 for Grab users. And until March 15, customers can choose any four Large Lemon Fruit Teas and get at least P133 off their total basket, exclusively for Grab orders only.

GInsure bullish on growth as many GCash users remain uninsured

BW FILE PHOTO

THE INSURANCE ARM of e-wallet giant GCash is bullish on their growth as a large number of its customers remains uncovered, which they hope to reach via their embedded product offerings.

“A big chunk of this has been with our embedded insurance, our load insurance. When we give insurance available for free, we grow the number of people insured two and a half times more,” GCash Vice-President and GInsure Head Wilfrido De Ocampo told reporters on Tuesday.

To date, GInsure has issued 119 million policies and insured 27 million users. Majority or 75% of the users insured were from outside Metro Manila, while 67% were aged 23-45, 76% from socioeconomic classes D and E, and 56% were female.

After the number of policies they issued more than doubled year on year in 2025, Mr. De Ocampo said he expects significant growth this year.

“On policies made, we continue to be very bullish. I don’t know if we’re going to do double, but certainly [we will see] significant growth in the number of people we insure and also the number of premiums that we give.”

He added that GCash is exploring other ways of expanding coverage, such as insuring other transactions as scams continue to evolve.

However, the penetration rate of GInsure relative to the total user base of GCash is still at the single-digit level, Mr. De Ocampo said.

He said he hopes that their users will be encouraged to learn about more complex insurance policies through their embedded offerings. “By giving it for free, we’re teaching them that insurance is something they have access to.” — A.M.C. Sy

Are you listening?

STOCK PHOTO | Image by Katemangostar from Freepik

WITH the ever-broadening access to online chats, postings, and news, our culture of getting our information through informal channels has gone beyond social gatherings and office meetings. There is no need to have coffee or lunch to pick up opinions on any topic.

We often get our news secondhand, usually from others who probably got it the same way. We don’t need to be present or even connected as players to any incident or event to gain access to what’s going on around us.

The “hearsay culture” affects even business information. It can promote a particular crypto currency or stock to invest in. One is provided with a price it is likely to hit in the next few weeks due to some interest from at least two potential parties, hinting at the prospect of whales entering or leaving that will affect the stock price. This is not even considered “insider information” if coming from an anonymous posting.

The use of intermediaries to deliver bad news (you need to look for another job) rather than formal e-mails taps into this hearsay culture. A person may be designated as the unofficial messenger. He is informally referred to as a “hit man.” He only delivers bad news. Good news can be delivered more directly — we’re sending you to Paris to check out the patisseries near the Louvre.

The parlor game “rumor” illustrates the unreliability of information whispered as hearsay in a chain of conversations from one person to the next, drifting ever farther from the original source as it finally ends with the last person in the chain. In the game of rumor mongering, details are distorted beyond recognition.

In a thriller on the media coverage of the original Iraq invasion, Collateral Damage (2018) by James Long, the main character is a journalist. The narrative on the war is controlled by the military, including choosing which journalists can join the pool of reporters accompanying the troops. Certain videos of collateral damage like fatalities in the civilian sector or even deaths from “friendly fire” are banned. The hoped-for narrative on the media coverage must be a fight between good and evil, with the former winning the battle fairly.

Controlling the narrative is not always possible with hearsay culture.

The “aural” tradition is a tool used to validate narratives that are floated by professional groups to support certain personalities or points of view. Was he arrested or kidnapped? The troll farms can be utilized to give a set of facts a different slant in favor the paying client.

Is it possible to just stick to the facts? But which facts are relevant and how should they be interpreted?

Research departments of banks and investment companies covering business use inputs and perspectives from the investor relations departments of listed companies that are covered. These are further validated by statistics and economic data on markets and the regulatory environment. But can such an analytic approach counter the informal grapevine?

It is easy to test this influence of the hearsay culture on how we view events. One must list down what news of the day he has gathered, and how this was discovered. These sources can fall into the following categories: 1.) It was a topic at a breakfast meeting where somebody overheard something significant from another table; 2.) It was seen online in one of the chat groups posted by someone close to the personalities involved; or, 3.) It turned out to be fake news. Of course, there are also established media outlets.

Even if one only sticks to legitimate media with its editorial oversight, the narratives found there may not always be based on documentary sources or verifiable facts. The source cited may be unnamed, with a quote not made for attribution (from anonymous sources).

Reading habits show that only headlines and maybe the first few paragraphs of a story are carefully read. Seldom do even professed online newshounds stay glued to the phone screen beyond five minutes. Are more details to be found in the remaining 30 minutes?

In checking if the slant of a story is accurate, most are content with the ultimate test for correctness — “I heard it from many different sources.” Still, informal channels can be revealing… and you can pass that on.

 

Tony Samson is chairman and CEO of TOUCH xda.

ar.samson@yahoo.com

How PSEi member stocks performed — March 11, 2026

Here’s a quick glance at how PSEi stocks fared on Wednesday, March 11, 2026.