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High time to reactivate the No Contact Apprehension Policy

PHILIPPINE STAR/JESSE BUSTOS

THE PHILIPPINES recently earned another badge of notoriety when Metro Manila was ranked as having the worst traffic situation among metropolitan areas across the globe, according to the TomTom Traffic Index 2023.

Metro Manila commuters and motorists lose an average of 117 hours per year to road congestion during rush hours, and a stretch of 10 kilometers takes Filipinos an average of 25 minutes and 30 seconds to negotiate, the Index said.

Reacting to this announcement, the government, through the Department of Transportation, acknowledged the challenge and said it would expedite its road projects to improve commuter experience and address worsening traffic.

Traffic is indeed a menace to Filipino motorists and commuters alike, who all want to get to and from their workplaces or schools in the fastest, not to mention most affordable and convenient, way possible.

Such a distinction, too, does little to improve the Philippines’ image as an ideal destination in the eyes of investors. Imagine productivity being hampered by all that time wasted on the road, when people could already be at their respective workstations getting real work done. The supply chains of all industries are also affected by the costly delays that eventually translate to higher costs of goods and services.

Then again, even before the release of the TomTom Index, heavy traffic blighted Metro Manila for years. This has prompted initiatives from the private sector to collaborate with the government to improve the situation. Public-Private Partnerships (PPPs) are ideal for big-scale projects that require substantial capital and technical expertise for more efficient implementation of projects benefiting the public.

A PPP initiative applicable to the current situation is the No Contact Apprehension Policy (NCAP), adopted by some LGUs beginning 2018. Under the NCAP, closed circuit television (CCTV) cameras identify and apprehend traffic violators using videos and photos. If a violation is detected, the local government unit where the violation occurred issues traffic citation tickets, mailing them to the vehicle’s registered owners. And then, if the violator does not pay the fine within seven days, their vehicles would not be allowed to be registered.

The laudable initiative ensures comprehensive enforcement of traffic rules, promoting order on the road through digital technology. The NCAP also advances good governance. Because everything is digital and transparent, it significantly minimizes opportunities for corruption, precisely because it does away with contact — there will no longer be a chance for bribes to change hands from the violator to the corrupt traffic enforcer.

In fact, several LGUs had been implementing the NCAP to noticeable results. Unfortunately, in August 2022, the Supreme Court issued a temporary restraining order against the NCAP’s implementation because of three petitions from various groups that challenged it.

But arguing on behalf of the LGUs, the Metropolitan Manila Development Authority, and the Land Transportation Office, the Office of the Solicitor General said the three petitions were ruefully inadequate because the groups — transport groups Kapit, Pasang Masda, Altodap, and the Alliance of Concerned Transport Organizations — had no locus standi to challenge the policy and failed to allege actual threat or threatened injury. Another petitioner, a lawyer, filed a case that arose from his own violation of traffic rules.

Solicitor General Menardo Guevarra said the groups’ lack of standing cannot be cured by an erroneous invocation of the rule on third-party standing. “This rule prohibits one from challenging the constitutionality of the statute based solely on the violation of the rights of third persons not before the court,” he said in an interview. Meanwhile, the NCAP’s alleged violation of privacy should be raised with the National Privacy Commission, not the High Court.

The Supreme Court has now concluded hearing the arguments to the challenge. A final decision is expected soon.
*****

In September 2022, just after the TRO was imposed on the worthy PPP project, Pulse Asia conducted a survey and found that eight in 10 Filipinos agreed that the NCAP is effective in instilling driver discipline and improving road safety.

This result demonstrates that Filipinos are aware of avenues to improve the management and safety of our roads, and to enforce traffic regulations devoid of the usual practices of extortion and bribery. The NCAP also maximizes the use of digital technologies in running the affairs of government. This is aligned with the policy thrusts of no less than President Ferdinand Marcos, Jr. that the Philippines should pursue the path to inclusive and sustainable economic growth through digital transformation.

Who, then, would oppose an innovative, simple, logical, transparent, and efficient way to enforce discipline and safety on the road, conduct government transactions more efficiently, and minimize opportunities for corruption thereby advancing our efforts in good governance?

We await the decision of the Supreme Court on the NCAP and are hopeful that after listening to and weighing the arguments from both sides of the case, and after a careful consideration of what is at stake — not only for this PPP project but also the implications on the mobility experience of Filipinos and the drive to achieve transparency and accountability in government — the High Court would finally lift the TRO and pave the way for its reactivation.

Victor Andres “Dindo” C. Manhit is the president of the Stratbase ADR Institute.

Bob Marley biopic brings his message to new generations, son says

KINGSLEY Ben-Adir in a scene from Bob Marley: One Love. - IMDB.COM

LONDON — Bob Marley’s family hopes a new biographical movie about the superstar singer, who popularized reggae with his catchy tunes and spiritual and socially conscious lyrics, will help revive his legacy.

Bob Marley: One Love is produced by his wife Rita Marley and their children Ziggy and Cedella and executive produced by Brad Pitt. Directed by King Richard filmmaker Reinaldo

Marcus Green, it sees British actors Kingsley Ben-Adir and Lashana Lynch taking on the challenge of bringing Bob and Rita Marley to life on the screen.

“(It was made) mainly to spread his message more, to put his message into a different medium; film, to reach another generation,” said Ziggy Marley as he attended the film’s premiere in London on Tuesday.

“One love is something positive out there in the world. That’s what it’s about, the message.”

Marley, whose hits with The Wailers included “No Woman, No Cry,” “Jamming,” and “I Shot the Sheriff,” was born in Jamaica in 1945. He died from cancer in 1981, aged 36.

The movie opens in Kingston in 1976, with Marley planning a peace concert in response to deep political divisions and violence. It sees the musician moving to London after both he and Rita survive an assassination attempt and recording the hit album Exodus. Flashbacks offer insight into Marley’s childhood and youth.

Ben-Adir, who played Malcolm X in One Night in Miami and Barack Obama in The Comey Rule, prepared to play Marley while on the set of Barbie, in which he appeared as one of the Kens. Mastering Marley’s mannerisms and language, the Jamaican patois, was not an easy feat, the actor, 37, said.

“All of it, the language, the music, finding Bob’s true vulnerability. He was a tough man and he was a gentleman. There were so many colors to him,” he said.

“I don’t play music, so I had to learn everything about music. There was a lot to do and so when I was on a break, I just started in the Mojo Dojo Casa.”

Bob Marley: One Love is out in cinemas globally from Feb. 14. – Reuters

GOCC regulator halts PAGCOR casino layoffs, senator says

THE GOVERNANCE Commission for GOCCs (GCG) has barred the Philippine Amusement and Gaming Corp. (PAGCOR) from laying off more than 700 employees of a casino in Malate, a senator said on Thursday.

In a statement, Senator Rafael T. Tulfo said GCG Chairman Marius P. Corpus said in a meeting on Wednesday that the government-owned or -controlled corporation (GOCC) regulator has “prohibited” PAGCOR from firing workers from Casino Filipino — New Coast in Malate, because its redundancy plan has not been approved.

The layoffs were announced after the casino turned over its operations to a Hong Kong-based gaming company.

Mr. Corpus said the GCG is also working on a salary increase for PAGCOR employees, after Mr. Tulfo raised the issue of many casino workers being paid below minimum wage.

The GCG Chairman, GCG Commissioner Geraldine Marie Martinez along with other GCG employees, met with the senator on Wednesday to discuss casino worker pay and the retrenchment plan.

In a Senate Amusement and Games Committee hearing on Jan. 25, the senator urged the GCG to fix its compensation system for casino workers, who complained of insufficient pay at the hearing.

In August, PAGCOR announced the privatization of 45 casinos by the third quarter of 2025, which is expected to generate between P60 billion and P80 billion in revenue.

Senator Sherwin T. Gatchalian has said that the privatization will make up for the lost revenue from the shutdown of Philippine Offshore Gaming Operators after it was reported that PAGCOR failed to collect P2.2 billion in un-paid dues from these companies. — John Victor D. Ordoñez

PSEi seen to end at 7,665.26 in 2024

THE Philippine Stock Exchange Index (PSEi) could end in the range of 6,998.71 to 7,665.26 this year, led by strong economic projections, according to brokerage firm Philstocks Financial, Inc.

“We project the local equities market to end within 6,998.71 to 7,665.26 this 2024, presenting an 8.51% to 18.84% potential upside from end-2023 levels. This is hinged on the assumption that the earnings per share of our index member companies will grow by 5% to 15%,” Philstocks said in a report on Thursday.

The projection could be met based on factors such as slower inflation and stronger economic growth, it said.

“The robust economy is still expected to help in our corporates’ profitability, mainly through the strengthening of their revenues. The continuous growth of the economy is expected to lead to higher incomes on an aggregate level which in turn would sustain the demand for our corporates’ products,” it said.

“A slowdown in inflation is also seen to help in boosting revenues especially of our consumer leaning companies. Rising input costs and high interest expenses however are seen as risks to company bottom lines,” it added.

The Philippine Statistics Authority recently announced that the country’s GDP expanded by 5.6% in 2023, below the government’s 6% to 7% target and slower than the 7.6% increase in 2022.

However, Philstocks said that some of the risks to its projection include the threat of higher inflation and the higher interest rates.

“Our forecast may not be met this year if economic growth sharply decelerates; inflation does not fall within or near the government’s 2%-4% target; the Bangko Sentral ng Pilipinas does not ease its monetary policy this year; and the Federal Reserve does not follow up on its hint of doing three 25-basis-point rate cuts this year,” the brokerage firm said.

The country’s inflation rate averaged 6% in 2023, higher than the 5.8% recorded in 2022, despite dropping to 3.9% in December.

On Thursday, the benchmark PSEi fell by 23.43 points or 0.35% to 6,623.01 while the broader all shares index retreated by 13.46 points or 0.38% to 3,486.03. — Revin Mikhael D. Ochave

The flight beyond

GREG RAKOZT - UNSPLASH

“I am circling around God, around the ancient tower, and I have been circling for a thousand years; And I still don’t know if I am a falcon or a great song.” — Rainer Maria Rilke

MAN has always wanted to soar freely like an eagle above the clouds. He searches for his place in the sun.

Icarus attempted to take flight centuries ago. The experiment failed when he flew too high. The wax in his wings melted. In a figurative sense, he was weighed down by his ambitions and enthusiasm to surpass his human limitation.

“I live my life in growing orbits which move out over the things of the world. Perhaps I can never achieve the last, but that will be my attempt,” the philosopher Rilke wrote.
Man can transcend the boundaries and barriers that ground and restrict him. As he explores the unfamiliar and unknown terrain outside the comfort zone of existence, he achieves confidence and courage.

By releasing his energies in extrinsic endeavors and external concerns, he can live meaningfully.

Traveling to the wilderness of a jungle, to the icy fjords, and the endless deserts of distant continents are a prelude to the ultimate safari. In ascending order, man aims to conquer the solar system, the galaxy, the universe.

A pulsating, energetic spirit inhabits every creative individual. It animates him and propels him forward. The practical and parochial concerns of his environment cannot restrain the visionary. He continually seeks new inspiration and replenishes his resources in fulfilling work.

The thirst for the unusual and the inventive leads man to astonishing insights and discoveries.

Initially, there may be innumerable logistical constraints that restrict a man’s physical journeys. Not everyone has the wherewithal to pursue adventure. His creativity finds expression in other venues, such as a body of artistic work or in scientific research and inventions.

The artist, inventor, scientist, professor expands his world by delving into the realm of the spirit and ideas. Dreams and ideas are interpreted and concretized, in the unique process of creation.

Man always wants something new, big, different. He wishes to conquer the impossible, to solve the most difficult equation, to scale the highest peak, to swim across the ocean, to plunge into the unfathomable depths, and to soar beyond the moon and reach a distant planet.

The unknown is exotic, an irresistible challenge. The pursuit of the elusive muse is exciting in its unpredictability.

Risk is part of every game. The thrill of danger enhances the feeling of adventure. It makes the taste of triumph sweeter.

Five decades ago, in July 1969, man’s historic moon walk was the first stunning gravity-defying expedition. It was a giant step for mankind. Neil Armstrong was the modern Icarus triumphant who dazzled the world. He planted the American flag on the surface of the moon and launched the international race to supremacy in outer space. The rest is history.

*****

An inner force makes the individual stretch his psychic and physical wings. The mysterious energy stimulates the mind to conceive and create immortal works in music, literature, art, dance, and theater. Among the great artworks are La Giaconda (Mona Misa) by Leonardo da Vinci at the Louvre; Genesis by Michelangelo in the Sistine Chapel; Shakespeare’s plays and sonnets; the concertos by Beethoven, Mozart, Chopin, Rachmaninoff, and Tchaikovsky’s The Nutcracker ballet; contemporary dances by Martha Graham and Alvin Ailey; and the designs of Dior, Schiaparelli, and Chanel.

An inspiration leads to a moment of insight and a new dimension. Thus, man discovers a scientific formula, a vaccine to eradicate the disease and control the pandemic. He devises a high-tech computer, a gadget to help the blind hear sounds and “see” what is in front of them, a High Frequency Ultrasound (HIFU) machine to control and stop tremors of Parkinson’s disease patients without invasive brain surgery, a laser beam, a hypersonic vehicle that would change the world forever.

Our lives are changing because of new technology. We are enriched by the study of the ancient classics, mythology, philosophy, and anthropology.

The permutations are endless in the realm of the mind. It is man’s responsibility to tap into these infinite resources and utilize them for the common good. Not for selfish interests and material gain.

Man continues to discover and interpret diverse esoteric ideas into tangible achievements to benefit humanity.

By working for peace, by channeling his abundant talents into making the world a better place to live, man ascends to a higher level of consciousness.

Man is evolving into the being the Creator originally intended him to be. And this flight will take him to heights he has never dreamed of.

 

MARIA VICTORIA RUFINO is an artist, writer and businesswoman. She is president and executive producer of Maverick Productions.
mavrufino@gmail.com

Alec Baldwin pleads not guilty to involuntary manslaughter charge

ACTOR Alec Baldwin in a scene from Rust. — IMDB

TAOS, New Mexico — Actor Alec Baldwin pleaded not guilty on Wednesday to charges of involuntary manslaughter in the 2021 on-set shooting death of cinematographer Halyna Hutchins during filming of the Western movie Rust in New Mexico.

Court documents showed Baldwin, 65, entered his plea as he waived his right to an arraignment nearly two weeks after a grand jury indicted the actor on Jan. 19, reviving a criminal case that had been dismissed months earlier.

The Emmy-winning performer, who starred in the hit NBC television comedy 30 Rock, was allowed to remain free without posting bond under the arraignment waiver filed with the First Judicial District Court in Santa Fe.

The case, which has sparked debate about firearms safety in the production of movies and television, has little or no precedent as an instance of a Hollywood star facing criminal prosecution for an on-set fatal shooting.

Baldwin has denied responsibility for Hutchins’ death, insisting he was told the gun was “cold,” meaning it contained only blank rounds, and that the weapon fired without him pulling the trigger.

The original charges were dropped over questions of whether the reproduction Colt .45 revolver Baldwin was rehearsing with could have been modified to allow the gun to go off by itself.

Prosecutors said they sought the grand jury indictment after an independent forensic test found the gun would not fire unless the trigger was pulled.

The same bullet that killed Hutchins on Oct. 21, 2021, also wounded director Joel Souza.
Baldwin’s plea came days after special prosecutor Kari Morrissey said in a court filing that photos and other evidence showed the live round was brought on set by the movie’s weapons handler, Hannah Gutierrez.

According to courtroom testimony and police records, the pistol was handled by Gutierrez before it was picked up by the film’s assistant director, David Halls, who told Baldwin the gun was “cold.”

Gutierrez faces a Feb. 21 trial on separate involuntary manslaughter charges. Halls entered a plea deal and received a six-month suspended sentence on a charge of negligent use of a deadly weapon.

But the question of how a live round, strictly prohibited on film sets, was loaded into Baldwin’s gun remains at the center of the cases against Gutierrez and Baldwin, who also is a producer on the film.

Prosecutors said they had photos of live rounds on set as early as Oct. 10, 2021, 11 days before Hutchins was killed.

“The investigation conducted by the special prosecutor has developed substantial evidence that Ms. Gutierrez brought the live rounds on set when she first began work on the film,” Morrissey wrote in Monday’s filing.

Morrissey cited images of live rounds from filming and others from photos Gutierrez took. The prosecutor said all six live rounds found on set appeared to have come from a box of dummy rounds that Gutierrez told detectives she brought onto the location.

Gutierrez’s attorney Jason Bowles said prosecutors were “incorrect” in their assumptions. “The evidence will come out at trial,” he said in a statement to Reuters.

In police video, Gutierrez says the tray of rounds inside the box could easily have been swapped during production from a box that was not hers. — Reuters

Robinsons Retail net income down 29.5% in 2023

GOKONGWEI-LED Robinsons Retail Holdings, Inc. (RRHI) reported a 29.5% decline in its attributable net income in 2023 to P4.13 billion from P5.85 billion.

The attributable net income in 2023 declined due to the “reversal of foreign exchange gains in 2022 to a loss in 2023, following the appreciation of the peso vis-à-vis the US dollar,” the company said in a regulatory filing.

“Also the reversal of the equitized earnings in 2022 to a loss in 2023 with the derecognition of Robinsons Bank’s net income under equitized earnings following the merger with the Bank of the Philippine Islands, and losses from start-up investments,” it added.

RRHI’s full-year net sales improved by 7.4% to P192.1 billion, led by a 3.9% growth in same-store sales.

“[The growth is] despite inflationary pressures and a high base in 2022 with the economic reopening. Supermarkets and drugstores were the company’s main growth drivers,” it said.

The company’s gross profit rose by 7.9% to P45.6 billion led by “assortment shifts and sustained penetration of private label brands” while its core net earnings grew by 0.6% to P5.6 billion.

“The strategic initiatives we put in place in 2023 such as increasing market coverage and improving store efficiency proved instrumental in maintaining our growth trajectory despite the challenging operating environment,” RRHI President and Chief Executive Officer Robina Gokongwei-Pe said.

“As we move forward in 2024, we are optimistic that we can capture the expected recovery in consumer confidence, particularly as inflation pressures begin to subside. We remain committed to expanding our business prudently, balancing the needs of our retail customers with the interests of our diverse stakeholders,” she added.

As of end-2023, RRHI operates 2,393 stores. These consist of 349 supermarkets, 1,054 drugstores, 50 department stores, 230 DIY stores, 408 convenience stores, and 302 specialty stores. The company also has more than 2,100 franchised stores of The Generics Pharmacy.

Shares of RRHI rose by 65 centavos or 1.84% to P35.90 apiece on Thursday. — Revin Mikhael D. Ochave

FINEX President Toti Bengzon and transformation

The Philippines is forecasted to be a high middle-income country within this decade and the 18th largest economy in the world by 2050. This growth is expected to be fueled by remittances, business process out-sourcing revenues, and the demographic dividend from a young population. Given the volatile environment filled with the complex issues that we face, 2024 FINEX President Augusto “Toti” Bengzon asked: “How can we achieve our growth agenda?”

President Toti was inspired by Andy Grove’s book Only the Paranoid Survive, which said: “A corporation is a living organism; it has to continue to shed its skin. Methods have to change. Focus has to change. Values have to change. The sum total of those changes is transformation”.

The real challenge is how we can achieve “transformational growth” in what is perhaps the inflection point that will either see us rise to expected economic success or muddle along with the rest of the world. “How do we make it happen?” President Toti then proposed three components that drive transformational growth: sustainability, diversity, and digitalization.”

The first component: sustainability. In the realm of ESG, environmental sustainability stands out as a pivotal pillar. The urgency to preserve our planet has never been more apparent, with climate change and environmental degradation posing existential threats.

The Philippine government, he said, has demonstrated its commitment on the global stage by signing key international agreements. The Kyoto Protocol in 2003 and the Paris Agreement in 2016 affirmed the government’s intention to reduce greenhouse gas emissions and combat climate change. And more recently, it has actively participated in the Conference of the Parties (COP) meetings, including COP28, where nations come together to address global environmental challenges. These efforts underscore the country’s commitment to preserving biodiversity and fostering sustainability, nationally and internationally, and encourage us to integrate environmentally sustainable practices into our daily lives.

Diversity, he said, is the condition of having different elements or qualities. It is a growth enabler, fostering an inclusive environment that values and learns from diverse backgrounds, experiences, and perspectives. Recognizing the importance of diversity acts as a catalyst for innovation and untapped potential. Diverse teams bring fresh approaches to problem-solving, stimulating creativity and leading to more holistic solutions to complex challenges. He mentioned that studies show that companies with more diverse management teams had innovation revenues 19 percentage points higher than those with below average diversity scores. In addition, inclusive companies are 1.8 times more likely to be change-ready than their less inclusive peers. He mentioned Ayala Land, Inc. where he is treasurer and chief financial officer, and how it is now led by Meean Dy, the company’s first female chief executive officer in its 35-year history. He said the company is strategically incorporating talents and experts from various fields, including digitalization, HR, and hotel operations.

For digitalization, he said that in the rapidly evolving landscape of today’s global economy, it is not a mere choice but is imperative not only for growth, but also for survival and relevance. Nations and companies face complex challenges, ranging from managing vast amounts of data, ensuring efficient and transparent operations, and enhancing engagement with customers and stakeholders. Digitalization is the key to unlocking innovative solutions for these challenges.

How do sustainability, diversity, and digitalization lead to transformational growth? President Toti said sustainability guarantees our longevity and adaptability, diversity brings depth to our perspectives, fostering innovation and resilience, and digitalization, the backbone of modern enterprises, allows us to efficiently deliver new products and services, find new ways to engage customers, and turn them into lifelong partners.

The guest speaker at the FINEX inauguration was Mariana Zobel de Ayala, executive director of Ayala Corp. She spoke about the theme “Transformational Growth through Sustainability, Diversity and Digitalization” with great insights as a woman, a daughter, a sister, wife, mother, and a woman in business. She said: “Imagine it better and make it a reality. Act with future generations in mind, evolve, stay relevant and respond to the nation’s changing needs.” She also said that “transformational growth must come with a sense of purpose and imagining how growth can lead to a better world.”

With President Toti’s leadership, we can look forward to a vibrant FINEX year. Already, FINEX meetings are lined up with Maharlika Chairman Joel Consing on Feb. 21 and Bangko Sentral ng Pilipinas Governor Eli Remolona on March 20, among many exciting and relevant ones! Congratulations also to Wilson Tan, SGV Chairman and now FINEX Foundation president, and to Michael Guarin, who is now president of the FINEX Academy. It is truly an exciting year for FINEX, and I am hoping that we will all be transformed in 2024!

The views expressed herein are the author’s own and do not necessarily reflect the opinion of her office as well as FINEX.

FLOR G. TARRIELA was former PNB chairman and now serves as board advisor. A former undersecretary of Finance, she is lead independent director of Nickel Asia Corp., director of LTG, Inc. and FINEX. A gardener and an environmentalist, she founded Flor’s Garden in Antipolo, now an events destination.

Strikes poised to ground flights at major German airports

BERLIN — Strikes threatened to ground flights on Thursday at some of Germany’s biggest airports, including the global hub Frankfurt, in the latest wave of industrial action by transport workers to hit Europe’s largest economy, officials said.

The labor union Verdi has called for strikes by security staff at airports across the country as it raises pressure on the government in wage talks.

“The security checkpoints outside the transit area will be closed. It is therefore not possible to board flights from Frankfurt,” airport operator Fraport said in a statement.

All passengers who had planned to start their journey in Frankfurt were therefore asked to not come to the airport, Fraport said, adding that 1,050 departures and arrivals had been scheduled originally.

A spokesperson for Berlin Brandenburg’s airport said all departures would be canceled on Thursday but that flights would go back to normal on Friday at the start of the winter holidays in Germany’s capital.

Hamburg Airport said it would take similar measures. “All 126 departures on Thursday will be canceled or will take place without passengers,” the airport said, adding that cancellations and delays are also to be expected for arrivals. — Reuters

Maya is #1 Digital Bank in PHL

Maya now stands as the #1 Digital Bank in the Philippines, revolutionizing the industry with its unified payments and banking services on one digital platform. In 2023, Maya saw a remarkable increase in users, with 3 million depositors, more than double the previous year, and a deposit balance reaching P25 billion, a 69% increase from 2022.

Its innovative approach sets Maya apart, turning everyday transactions into opportunities for customers to earn more through high-interest savings. This unique strategy has helped Maya capture 57% of the digital banking depositors, based on the latest September 2023 data from the Bangko Sentral ng Pilipinas (BSP).

Maya’s loan services have grown exponentially, disbursing P22 billion last year from P3 billion in 2022. This success is due to Maya’s innovative use of customer transaction data to make quick and efficient lending decisions.

“We’re redefining how Filipinos interact with their money,” said Shailesh Baidwan, Maya Group President and Maya Bank Co-Founder. “Our all-in-one platform is a response to the real, daily financial needs we’ve seen and heard from our customers, and we’re committed to bringing them even more innovative solutions.”

Maya is the Philippines’ only digital bank app to seamlessly offer savings, credit, e-wallet, crypto, insurance, investment, and rewards. As of early 2024, it is the #1 top-rated consumer finance app with a 4.8 rating on the App Store and 4.5 on Google Play, beating other leading apps.

Maya’s model has garnered global acclaim, earning accolades such as Best Digital Bank in the Philippines at the World Digital Bank Awards, World’s Best Consumer Digital Bank Awards, and Retail Banking Awards, and recognition in Forbes Magazine‘s World’s Best Banks list.

Making Finance a Part of Life

“Banking shouldn’t be a chore, and that’s what we’re changing at Maya,” said Angelo Madrid, President of Maya Bank. “Every payment you make on the Maya app — it’s not just a transaction, it’s a step towards bigger savings and smarter credit. That’s our mission, making finance a seamless part of daily life.”

Customers can earn up to 14% interest on their savings and, for eligible users, borrow up to P250,000 through regular use of the Maya app.

Maya’s approach has also attracted collaborations with major brands like Smart Communications and Lazada, providing customers additional benefits and rewards. Both brands ran campaigns offering an extra 1% savings interest rate p.a. whenever users transact via Maya.

Madrid anticipates users to engage even more with the app as Maya has expanded its product portfolio with wealth-building services such as Maya Funds, Maya Stocks, Maya Time Deposit Plus, and Maya Crypto.

Accelerating SME Banking in PH

Replicating its success in consumer banking, Maya is also reshaping SME banking in the Philippines. It is powering SMEs to accept various payment methods offline and online, using this vast data to offer lucrative savings and instant credit options.

Maya Business unveiled in 2023 the breakthrough 1-2-3 Grow Bundle, enabling SMEs to get a credit line of up to P2 million within just three months of using Maya for payment acceptance. On top of that, SMEs can accept digital payments at affordable rates and earn a 2.5% interest rate on their deposit accounts.

Maya is the #1 Fintech Ecosystem in the Philippines, with Maya, the #1 Digital Bank, and Maya Business, the #1 Omni-Channel Payment Processor. To learn more about Maya, check out maya.ph and mayabank.ph. Follow Maya at @mayaiseverything on Facebook, Instagram, YouTube, and TikTok and @mayaofficialph on Twitter.

 


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Mainstream news media is imploding. That’s a good thing

MARKUS WINKLER - UNSPLASH

It’s really not going well for the “progressive left.” After all those millions of dollars poured into ensuring that the movie Barbie earned money (thus avoiding the very public humiliation of Disney’s recent Little Mermaid which flopped spectacularly at the box office), the very feminist, very woke, very anti-masculinity crowd went into full meltdown just a few days ago after Margot Robbie and Greta Gerwig failed to secure Oscar nominations for best actress and best director, respectively, only to see Ryan Gosling snag a nomination for best supporting actor.

Perhaps the only thing that could have enraged the Barbie crowd more, thus pushing the amusement factor to 11, is if Ryan Gosling had been nominated for best actress instead. Which in today’s so-called gender fluid, inclusive society is not as far out an idea as it sounds.

In any event, another interesting meltdown occurred just last week when Taylor Lorenz appeared in a viral video where she laments that the “entire journalism industry is basically in a free fall.” She then rattles of the mass layoffs at the LA Times (including its politics section, considering it’s a US election year), and emphasizes that the foregoing followed “months and months and months of layoffs in the media industry, in fact tens of thousands of journalists have been laid off in the past year.” Perhaps even more depressing (for her, anyway) is that “pretty much the entire digital media ecosystem that… a lot of Millennial journalists came up in has been completely hollowed out.”

And she’s not wrong: publications like the New York Times to the Washington Post indeed laid off mass numbers of its employees. CNN Philippines itself just shut down its operations last week, following in the footsteps of BuzzFeed News which closed down last year.

And the list of news media being gutted goes on and on: Insider, Forbes, New York Daily News, Paramount, Condé Nast, and Sports Illustrated (see “Mainstream media bloodbath: News outlets slash jobs as business suffers,” Axios, January 2024).

And yet, while expressing sympathy with the thousands of ordinary employees that lost their employment and source of income, one feels little to lament about the closure of such news media itself. Because for an industry that owes its existence to the trust of its readers and viewers, most of news media decided instead to play the arrogance card and take advantage of that trust.

Rather than being merely the observer and then objective reporter of what’s happening on the field, today’s journalists got the bizarre idea (from who knows where) that they are as good or even better than the actual players and thus inserted themselves in the game. This despite the fact that no one actually wanted to see them on the field.

Hence, the prevalence of “media bias,” the “tendency of news media to report in a way that reinforces a viewpoint, worldview, preference, political ideology, corporate or financial interests, moral framework, or policy inclination, instead of reporting in an objective way (simply describing the facts). A media outlet may reveal bias in how it reports specific news stories or which stories they choose to cover, i.e., deem more important than others to cover or emphasize” (“What is media bias?,” All Sides, February 2022).

In short, most news media departed from being the mere objective reporter of news to becoming propagandists of their own personal (oftentimes aligned with corporate) political ideology — which is mostly of the woke, “progressive,” Left point of view.

Hence, the appallingly (and heavily selectively censored) coverage on the COVID-19 lockdowns, their grotesque push for mandatory vaccination (with their even more grotesque acquiescence to terminate the employment and education of those refusing vaccination), their fanatical push for climate change policies, their anti-Christian stance, and their maniacal advocacy for the LGBT and trans ideology.

And journalism’s arrogant bias — particularly in the area of politics — kept growing more and more brazen. Back in 2004, BusinessWeek reported: “On the liberal end, Newsweek had an astonishing rating of 72 — that’s 33 points more liberal than the House median.

Other highly liberal outlets included The New York Times, Time magazine, the CBS Evening News, USA Today, and NBC Nightly News. These scores ranged from 62 to 64, about 25 points above the House median.” (“The Liberal Media: It’s No Myth,” BusinessWeek, June 2004).

By near present day, the leftist bias of journalists is a given. Oftentimes it is disguised: “‘We observed a lot of subtle differences in the words they choose when they cover the same high-level topics,’ says Hanjia Lyu, a computer science PhD student who was the lead author of the study. ‘For example, when covering abortion issues, Reason tends to use the term ‘abortion law,’ while CNN underscores its ideological position by using the term ‘abortion rights.’ On a higher level they are both talking about abortion issues, but you can feel the subtle difference in the words that they choose’.” (“Study of headlines shows media bias is growing,” University of Rochester, July 2023).

However, for particular political or social issues, journalists just straight out let their bias show. Witness the several times Joe Biden fell while walking (sometimes even as much as three times at one stretch) during a public event: “As of Friday afternoon, the homepages of MSNBC, CBS News, Washington Post, Los Angeles Times and New York Times had no mention of Biden’s stumbling incident earlier in the day at Joint Base Andrews. According to various organizations that monitor the media, CNN devoted 15 seconds to the incident and MSNBC about a minute.”

And yet when Donald Trump happened to simply walk slowly down a ramp after delivering a West Point graduation address in 2020, “CNN devoted 22 minutes and 13 seconds to Trump’s walk down the ramp, and MSNBC devoted 28 minutes and 42 seconds to the story.”

Basically, the supposed “objective,” “free and fair” news media treated Biden’s fall as “simply a slip, something we’ve all done at one time or another. But with Trump … it was treated as a sign of potential serious health questions” (“Media stumbles: Its bias shows in covering Biden v. Trump,” The Hill, March 2021).

Also don’t forget news media’s unapologetic reportage on Jussie Smollett and the copycat hate crime hoaxes, as well as the “mostly peaceful” riots of BLM.

And of course, there’s the classic, “we’re supposed to believe it’s unbiased” headline by Time magazine on President Ferdinand Marcos, Jr.: “The World should be worried about a dictator’s son’s apparent win in the Philippines” (May 2022).

The point is, “despite journalists’ denials, it’s now pretty much a fact that journalism is one of the most left-wing of all professions. But until recently, that wasn’t thought to be true of financial journalists — who have a reputation for being the most right-leaning and free-market-oriented among mainstream journalists. If that was ever true, it sure isn’t today, a new study suggests,” said Investor’s Business Daily in a November 2018 editorial (“Media Bias: Pretty Much All Of Journalism Now Leans Left, Study Shows”).

“Researchers from Arizona State University and Texas A&M University questioned 462 financial journalists around the country. They followed up with 18 additional interviews. The journalists worked for the Wall Street Journal, the New York Times, Washington Post, Associated Press and a number of other newspapers,” it continued.

Unfortunately, the bias comes with a cost and the cost is paid by the ordinary citizen: “The profound leftward ideological bias of the Big Media is the main reason why America now seems saturated with ‘fake news,’” said the Investor’s Business Daily piece. One saw this most clearly during the COVID coverage, with news media masking their fanaticism behind supposed fact-checkers to stop any report or opinion going against the COVID pro-lockdown/mask/vaccination narrative.

However, if people cannot trust news media, then where should they get their information from? The answer: from various sources giving unfiltered information, clearly delineating opinion commentary from news reportage, for which the people are then free to weigh the information they received on their own and deciding what to believe for themselves.

As it should be. That’s the entire point of a free society, with free speech and a free press.
Make no mistake, a free press is necessary to society and there are still news sources that remain trusted by the people. Some examples — the Daily Wire, a news organization co-led by Ben Shapiro, is experiencing an expansion. The Heritage Foundation also reported raising more money in 2023 than in previous years.

And certainly, a silver lining is that — what with the layoffs in many news media and the closure of CNN Philippines — Elon Musk’s X (formerly Twitter) is still very much around. The views expressed here are his own and not necessarily those of the institutions to which he belongs.

The views expressed here are his own and not necessarily those of the institutions to which he belongs.

 

Jemy Gatdula read international law at the University of Cambridge. He is the dean of the Institute of Law of the University of Asia and the Pacific, and is a Philippine Judicial Academy lecturer for constitutional philosophy and jurisprudence.
https://www.facebook.com/jigatdula/
Twitter @jemygatdula

How each segment contributed to Q4 2023 GDP