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Korea’s Hae Ran Ryu named LPGA Rookie of the Year

HAE RAN RYU has won the 2023 Louise Suggs Rolex Rookie of the Year award, the Ladies Professional Golf Association (LPGA) Tour announced Monday.

The 22-year-old South Korean clinched the honor after tying for 12th at The Annika on Sunday.

With 893 total points entering the CME Group Tour Championship, she holds an insurmountable 274-point lead over Grace Kim of Australia.

“I’m honored to earn the Rookie of the Year award and add my name to the prestigious list of winners before me. This year has been a memorable one, and I’m proud of what I’ve been able to accomplish on the LPGA Tour,” Ms. Ryu said in a news release. “I’m forever grateful to my team and fans for their support over my first season, and I can’t wait to close out the year at the CME Group Tour Championship.”

Ms. Ryu is the sixth player from South Korea to earn the honor since 2015, the first since Jeongeun Lee in 2019.

Ms. Ryu recorded her first LPGA Tour victory at the Walmart NW Arkansas Championship in September. She has five other top-10 finishes and enters the season’s final week ranked second in greens in regulation (75.7 percent) and third in birdies (314). She has earned more than $1.5 million this season.

Ms. Ryu will receive her Rookie of the Year award at the 2023 Rolex LPGA Awards ceremony on Thursday in Naples, Florida. — Reuters

Higher expectations

The Warriors were not happy campers in the aftermath of their loss to the Timberwolves the other day. It wasn’t simply that the setback was their third straight, or that it dropped them to an abhorrent one and three at Chase Center. It was that they appeared to be wasting the sterling production of Stephen Curry. For all the outstanding numbers the two-time Most Valuable Player awardee had been putting up, they somehow seemed to find ways to falter in the crunch — uncharacteristic for a core boasting of a dynastic run.

Even for casual observers, it’s obvious that the Warriors’ record of futility stems from the inability of Splash Brother Klay Thompson and fellow starter Andrew Wiggins to live up to billing. To argue that both have had slow starts would be an understatement; the former is norming a relatively anemic 16.1 points on 42.6% shooting per contest, while the latter is at 10.5 and 41.2%. If nothing else, the significant drop-offs have accentuated the pitfalls of their small-ball predilections.

To be sure, the season is young, and pundits remain high on the Warriors’ capacity to turn their fortunes around. After all, these are veterans who understand the rigors of competition through a long campaign. On the other hand, the signs are telling enough to get the brain trust thinking of ways to jump-start their efforts. Thompson, in particular, should be motivated to exceed himself, what with his contract situation remaining unresolved. And they’re not wrong to want to do something — anything — by way of an answer to their woes. After all, what is insanity but doing the same thing over and over again, and expecting the same result?

Perhaps the Warriors are likewise suffering from the burden of heightened expectations. Offseason projections counted them among legitimate contenders for the hardware, the advancing age of their vital cogs notwithstanding. It’s also fair to concede the need for time to make adjustments and incorporate the addition of point god Chris Paul to the rotation. All the same, the here and now needs to be addressed, and fast. The National Basketball Association is too deep for hopefuls to absorb a slump.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and human resources management, corporate communications, and business development.

[B-SIDE Podcast] Understanding the risks posed by fake and low-quality drugs

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Fake and low-quality medicines have become more common and are being sold at lower prices through online platforms.

In this B-Side episode, Monash University professor Michelle McIntosh discusses the effects of subpar medication on the overall health of people with BusinessWorld reporter Adrian H. Halili. 

“Understanding the quality of medicines is important, and in many cases around the world, the pharmaceutical products can be counterfeit or substandard products that are available,” Ms. McIntosh said. 

She said that medications like these may not be very effective and could be harmful to one’s health. “There can be consequences when people use substandard materials.” 

“There is definitely a high prevalence of substandard medication in third-world or low-resource settings,” she added. “It’s not only in those environments; it is something that people around the world are aware of.” 

Ms. McIntosh said that there is also a risk in purchasing medications through online platforms. “If you purchase medicine through the internet, you don’t actually know what quality it is when it arrives at your house,” she added. 

Counterfeit and substandard medication, such as anti-malaria and maternal healthcare drugs, are also observed being sold in third-world countries, according to Ms. McIntosh.

She said that due to high populations and less regulatory monitoring, the likelihood of these products being sold in the market is higher.

“Whether the regulatory agency can conduct routine testing to check the quality of products that come in… may be more challenging. People see an opportunity to make money by providing a counterfeit or substandard product,” she added.

Ms. McIntosh said that there is a need to identify poor-quality medicines in collaboration with experts and government organizations.

“At Monash University, we’ve recently established a quality of medicines initiative where we are working to apply our expertise in understanding pharmaceutical products, how they work, and how sometimes they may not work as they are supposed to,” she said. 

The quality cannot be determined easily by looking at it alone. She also said that using them might result in health problems or side effects. 

“That can create problems for the individual who is taking them, and also it can lead to anti-microbial resistance, in the case of antibiotics.”

Ms. McIntosh said that the university’s program aims to work with governments in developing and strengthening their pharmaceutical sectors.

‘Can’t buy new jeans’: Argentinians tighten belts as inflation hits 143%

REUTERS

BUENOS AIRES — Hard-up Argentines, tightening their purse strings with inflation topping 140%, are increasingly turning to second-hand clothing markets, both to find affordable apparel and raise extra cash from selling old garments.

The South American nation, the region’s No. 2 economy and a major grains exporter, is facing its worst crisis in decades. Two-fifths of people live in poverty and a looming recession is shaking up Argentina’s presidential election runoff next Sunday.

Rising voter anger is propelling a radical outsider, Javier Milei, the slight favorite in polls on the presidential election to beat Economy Minister Sergio Massa, the candidate of the ruling Peronist coalition, whose bid has been hobbled by his failure to rein in rising prices.

“You can’t just go to the mall and buy something you like as you did before. Today prices are unthinkable,” said Aylen Chiclana, a 22-year-old student in Buenos Aires.

New jeans cost more than double the price a year ago, representing over one-third of Argentina’s monthly minimum wage.

Annualized inflation hit 142.7% in October, the country’s statistics office said on Monday, with the monthly rise landing at 8.3%, although that was down from peaks in August and September and below analyst forecasts.

Argentina has for years battled high inflation, which economists blame on money printing and an entrenched lack of confidence in the local peso. Inflation has accelerated over the last year to its highest since 1991.

Beatriz Lauricio, a 62-year-old semi-retired teacher, said that she and her husband, a bus company employee, go on weekends to a clothing fair to sell old garments to make ends meet.

“We’re middle class, lower middle class, I would say. We have our jobs but we need to come to the fair,” she said, adding that when it was canceled one weekend due to bad weather the couple’s finances “collapsed.”

“We’re not doing this as a little extra so we can go on vacation to Brazil, we do it out of daily necessity,” Ms. Lauricio said.

María Silvina Perasso, the organizer of the clothing fair in Tigre, on the outskirts of Buenos Aires, said many people shop there because prices have risen far faster than salaries. The local monthly minimum wage is 132,000 pesos, $377 at the official exchange rate but half that at real street rates due to capital controls — restrictions on foreign exchange transactions.

“With the economy the way it is, they buy clothes at 5% or 10% of the value that comes from a store and they can buy things for their families,” she said.

María Teresa Ortiz, a 68-year-old retiree, lives off her pension and from casual sewing work, which pays her 400 pesos an hour, officially about a dollar. She goes to the fair to be able to afford clothes she otherwise couldn’t buy.

“We simply can’t buy new things. You can’t buy new sneakers, you can’t buy new flip-flops, you can’t buy new jeans, you can’t buy a shirt or a T-shirt either. So you have to look for them at the fairs,” she said. — Reuters

‘Too close and too cold’: Premature babies in grave peril at Gaza hospital

NEWBORNS are placed in bed after being taken off incubators in Gaza’s Al Shifa hospital after power outage, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Gaza City, Gaza Nov. 12, 2023 in this still image obtained by Reuters. — REUTERS

GAZA — The tiny babies lie side by side, some wrapped in green fabric roughly taped around them for warmth, others wearing only nappies, a picture of vulnerability, their lives in grave danger with every minute that passes.

The newborns are under the care of exhausted medics at Gaza’s Al Shifa hospital, which is besieged by Israeli tanks battling Hamas fighters, and lacks electricity, water, food, medicines and equipment.

“Yesterday I had 39 babies and today they have become 36,” said Dr. Mohamed Tabasha, head of the pediatric department at Al Shifa, in a telephone interview on Monday.

“I cannot say how long they can last. I can lose another two babies today, or in an hour,” he said.

The premature babies, who weigh less than 1.5 kg (3.3 pounds) each and in some cases only 700 or 800 grams, should be in incubators where the temperature and humidity can be regulated according to their individual needs.

Instead, they had to be moved to ordinary beds over the weekend because of a shortage of electricity, said Mr. Tabasha. They were placed side by side, surrounded by packets of nappies, cardboard boxes of sterile gauze and plastic bags. “I never expected in my life that I would put 39 babies side by side on a bed, each with a different disease, and in this acute shortage of medical staff, of milk,” said Mr. Tabasha.

The infants are too cold, and the temperature is not stable because of power cuts, he said. In the absence of infection control measures, they are transmitting viruses to each other and they have no immunity.

He said there was no longer any way of sterilizing their milk and bottle teats to the required standard. As a result, some had contracted gastritis and were suffering from diarrhea and vomiting, which meant an acute risk of dehydration.

‘YOU SLOWLY KILL THEM’
Dr. Ahmed El Mokhallalati, also involved in caring for the babies, described the conditions as deadly.

“They are in a very bad situation where you slowly kill them unless someone interferes to adjust or to improve their situation,” he said, also by telephone from Al Shifa.

“These are very critical kinds of cases, where you have to be very sensitive in dealing with them. You have to take care of each of them in a very special way. Currently they are all in open space, they are all with each other,” he said.

Mr. Tabasha listed everything he would need to keep the babies safe: electricity to run the incubators, a proper sterilizer for the milk and bottle teats, medicines, and support machines in case any of them went into respiratory failure.

He said the situation was harrowing for the doctors and the four nurses in charge of the babies.

“We are exhausted emotionally and physically,” he said.

Israel launched its military assault to destroy Hamas, the Palestinian militant group which runs the Gaza Strip, after Hamas fighters rampaged through southern Israel on Oct. 7, killing civilians. Around 1,200 people died and 240 were taken hostage, according to Israel’s tally, the deadliest day in its 75-year history.

Since then, thousands of Gazans have been killed and more than half the population made homeless by Israel’s relentless onslaught. Gaza medical authorities say more than 11,000 people have been confirmed killed, around 40% of them children.

Israel says Al Shifa hospital sits atop tunnels housing a headquarters for Hamas fighters, who are to blame for its plight for using patients as human shields, which Hamas denies.  Reuters

Forests key to climate fight along with cutting fossil fuels, study suggests

AN AERIAL VIEW shows a dead tree near a forest on the border between Amazonia and Cerrado in Nova Xavantina, Mato Grosso state, Brazil, July 28, 2021. — REUTERS

SAO PAULO — Restoring global forests could sequester 22 times as much carbon as the world emits in a year, according to a scientific study published on Monday, making the case that trees are a key tool in confronting the climate crisis along with cutting fossil fuels.

The study considers restoring forests where they would naturally exist if not for humans, either by allowing degraded woodlands to regrow or by reforesting denuded areas, but excludes areas vital to agriculture or already turned into cities.

Reaching the world’s full potential for restoration would draw out an estimated 226 gigatons of excess carbon from the atmosphere — or roughly one-third the amount added to the atmosphere since the industrial revolution, the research finds.

“There cannot be a choice between nature and decarbonizing. We absolutely must take steps to achieving both simultaneously,” said ecologist Thomas Crowther of Switzerland’s Federal Institute of Technology Zurich.

The paper, published in the journal Nature by Mr. Crowther and more than 200 other researchers, offers a major update to a 2019 paper that sparked fierce debate in the scientific community.

The new findings show that, while forests can help to combat climate change, it is counterproductive to use them to offset future greenhouse gas emissions, Mr. Crowther said. Any additional emissions will exacerbate climate change and extreme weather, damaging forests and hurting their ability to absorb carbon. That would negate the benefits of an offset, he said.

The idea of earning an offset through simply planting trees “is now categorically against what the science says,” Mr. Crowther said.

Mr. Crowther said he plans to attend the upcoming United Nations COP28 climate summit in Dubai to deliver that message to policymakers. “This paper has to be the one to kill greenwashing,” he told Reuters.

TREE CONTROVERSY
The research follows on a landmark 2019 study also co-authored by Mr. Crowther, indicating that 205 gigatons could be sequestered by forest restoration. Salesforce CEO Marc Benioff read the study and was inspired to work with the World Economic Forum to develop its initiative to plant a trillion trees.

But the paper and the trillion trees effort — which was quickly endorsed by then-US President Donald Trump — set off a controversy among scientists and environmentalists.

Many scientists — as well as Swedish activist Greta Thunberg — said trees were being presented as an overly simplistic cureall for the climate crisis that could distract from efforts to reduce the use of fossil fuels, the main culprit for climate change.

Mr. Crowther said the response drastically oversimplified the paper’s message.

More than 40 scientists wrote in the journal Science that the 2019 study may have inflated the carbon sequestration potential of forest restoration by 4-5 times by considering tree planting in non-forest ecosystems among other oversights.

Joseph Veldman, an ecologist at Texas A&M University and lead author of that criticism, said he thinks the new paper still exaggerates how much carbon could be sequestered, potentially by half.

He said the 226 gigaton figure includes carbon sequestered in places that are “inappropriate” for planting trees, like at high altitudes, and overly rely on forest gains in savannas, among other concerns.

“This is like the absolute, absolute upper bound of what could possibly ever be fathomable,” Mr. Veldman said. “You’re never going to get there. It’s unwise and it’s not feasible.”

Mr. Crowther said that while the current and previous study show where trees could be planted, it did not mean that they necessarily should be planted there.

The study’s authors specify that restoration must be done a certain way to be effective.

They argue that forests must be diverse, rather than mass plantings of a single species, and restoration must serve local community needs.

Cristina Banks-Leite, a tropical ecologist, teaches the 2019 Crowther paper and a paper that criticized it in the first week of her master’s course at Imperial College London to illustrate the debate around forests in the scientific community.

Doing such complex measurements for the whole world is always going to have some flaws, but also improves with technology advances, she said.

The paper also finds that protecting existing forests is more beneficial than trying to regrow them. Of the total carbon sequestration potential, only 39% would come from reforesting denuded areas. Most of the carbon gains, an estimated 61%, would come simply from protecting forests that are still standing and allowing degraded woodlands to recover.

“The take-home message – that the forest that we have should be protected – is absolutely foundational and correct,” said ecologist Nicola Stevens at University of Oxford, who had co-authored the criticism of Crowther’s earlier paper. — Reuters

Gang says ICBC paid ransom over hack that disrupted US Treasury market

REUTERS

LONDON — China’s biggest lender, the Industrial and Commercial Bank of China (ICBC), paid a ransom after it was hacked last week, a Lockbit ransomware gang representative said on Monday in a statement which Reuters was unable to independently verify.

ICBC, whose US arm was hit by a ransomware attack that disrupted trades in the US Treasury market on Nov. 9, did not immediately respond to a request for comment.

“They paid a ransom, deal closed,” the Lockbit representative told Reuters via Tox, an online messaging app.

The blackout at ICBC’s US broker-dealer left it temporarily owing BNY Mellon $9 billion, an amount many times larger than its net capital.

The hack was so extensive that even corporate email at the firm ceased to function, forcing employees to switch to Google mail, Reuters reported.

“The market is mostly back to normal now,” said Zhiwei Ren, a portfolio manager at Penn Mutual Asset Management.

The ransomware attack came at a time of heightened worries about the resiliency of the $26 trillion Treasury market, essential to the plumbing of global finance, and is likely to draw scrutiny from regulators.

A spokesperson for the US Treasury Department did not immediately provide comment on Monday.

The Financial Services Information Sharing and Analysis Center, a financial industry cybersecurity group, said financial firms have well-established protocols for sharing information on such incidents.

“We are reminding members to stay current on all protective measures and patch critical vulnerabilities immediately,” a spokesperson said in a statement, adding: “Ransomware remains one of the top threat vectors facing the financial sector.”

WHY PAY?
Lockbit has hacked some of the world’s largest organizations in recent months, stealing and leaking sensitive data in cases where victims refused to pay ransom.

In just three years, it has become the world’s top ransomware threat, according to US officials.

Nowhere has it been more disruptive than in the United States, hitting more than 1,700 American organizations in nearly every sector from financial services and food to schools, transportation and government departments.

Authorities have long advised against paying ransomware gangs in a bid to break the criminals’ business model. Ransom is usually demanded in the form of cryptocurrency, which is harder to trace and gives the receiver anonymity.

Some companies have quietly paid up in a bid to get back online quickly and avoid the reputational damage of having their sensitive data publicly leaked. Victims who do not have digital backups that allow them to restore their systems without the need of a decryption key sometimes have no choice but to pay.

Last week, Lockbit hackers published internal data from aerospace giant Boeing and said on their website they had infected computer systems at law firm Allen & Overy. — Reuters

Tricky politics on menu for China’s Xi at US business dinner

SCREENSHOT VIA APEC

SAN FRANCISCO — Top business leaders in the United States are expected to dine with Chinese President Xi Jinping in San Francisco on Wednesday as he seeks to court American companies and counter his country’s recent struggles to entice foreign investment.

The dinner on the margins of the Asia-Pacific Economic Cooperation (APEC) forum will follow a day of talks between Xi and U.S. President Joe Biden, aimed at stabilizing fraught ties between the world’s two largest economies.

For American businesses, it will be a chance to hear directly from China’s leader as they search for ways to navigate China’s economic slowdown, a U.S. push to “de-risk” some American supply chains away from China, and uncertainty caused by expanding Chinese security rules.

“The purpose of the dinner is to foster better communication,” one source close to the organizers told Reuters, declining to say who would speak while confirming representatives from both the Chinese and U.S. governments would share the podium.

But the event, yet to be formally announced by hosts U.S.-China Business Council (USCBC) and the National Committee on U.S.-China Relations (NCUSCR), also presents uneasy optics.

According to event notifications seen by Reuters, some U.S. firms will pay tens of thousands of dollars to hear a “Chinese state leader” from a government that Washington has accused of genocide against Muslim Uyghurs. China has vigorously denied the accusations.

The USCBC and NCUSCR both declined to comment on the planned dinner. China’s embassy in Washington did not respond to a request for comment.

Xi, who is widely expected to deliver a speech, will be eager to convince U.S. industry that China is still open for business after recording its first quarterly deficit in foreign direct investment.

Even as China this year cast off COVID-19 pandemic controls that effectively shut its borders, it has grown more suspicious of engagement with Western companies, in line with Xi’s emphasis on national security. Xi has overseen a crackdown on U.S. consultancy and due-diligence firms, a further blow to investor confidence.

‘FILET MIGNON’ AND HUMAN RIGHTS
For decades, business and trade has been at the center of U.S.-China relations, helping to fuel China’s explosive economic resurgence and offering what Beijing has often described as the ballast in otherwise contentious ties.

But concerns about a new style cold war between the rival economic and geopolitical superpowers has increasingly placed companies in the cross hairs of both governments.

Xi is on his first visit to the U.S. in more than six years and the pricey dinner, up to $40,000 for a table of eight, according to one notice for the event, is routine by standards for past Chinese presidential visits.

Reuters was not able to obtain a list of attendees, but executives of some companies who spoke privately to Reuters said they would steer clear given questions about the utility for their operations in China and U.S. political risks.

Jeff Moon, a former U.S. trade official turned business adviser, said China’s goal would be to soften Xi’s image and attract investment, but that the dinner was unlikely to “move any needles.”

U.S. lawmakers have castigated some American businesses for turning a blind eye to allegations of forced labor in China and some have been scathing in their criticism of the event.

“How does that dinner conversation go? ‘Wow, this filet mignon is a little dry. How’s your extrajudicial internment of over a million Uyghur Muslims going?” said Mike Gallagher, the Republican chair of the House of Representative’s select committee on China.

Despite human rights concerns, Biden has made a diplomatic push to improve relations, which slid to what many analysts viewed as an all-time low after the U.S. shot down an alleged Chinese spy balloon in February.

The Biden administration says communication at the highest level is essential to prevent competition veering into conflict, and in the interest of the global economy too.

Biden’s Treasury Secretary Janet Yellen reiterated ahead of the APEC summit that while the U.S. sought to reduce its dependence on China in some areas, it did not seek broad economic decoupling.

The dinner is Xi’s “reassurance tour,” and business leaders would look to him to set expectations for how foreign companies would be treated in China, said Nirav Patel, chief executive of consultancy The Asia Group.

“They have come to accept that there’s no substitute for hearing and seeing and observing what Xi Jinping is doing,” said Patel. “Of course, there are some that want to be able to demonstrate that they are committed to China and their presence in these meetings demonstrates that.” — Reuters

Philippines’ GCash banners success story at Singapore FinTech Festival 2023

Shares how it emerged as the country’s only double unicorn

The Philippines’ leading financial super app, GCash, brings its financial inclusion and FinTech success story to the global stage at the Singapore FinTech Festival (SFF) 2023 – sharing how it emerged as the country’s only double unicorn while making a positive impact on Filipinos’ daily lives.

GCash president and CEO Martha Sazon joins a panel discussion talking about, “Building Unicorns: An ASEAN Success Story” at the Insights stage of SFF 2023. She’s joined by Ernest Cu, the President and CEO of one of the Philippines’ biggest telecom companies, Globe Group. The panel is moderated by Ryan Huang, Assistant Finance Editor and Senior Producer and Presenter at Singapore’s MONEY FM 89.3.

“In line with our vision of achieving ‘Finance for All’, GCash has made big strides in transforming the Philippines’ digital economy to make sure no one is left behind. We are excited to engage like-minded organizations at the SFF 2023 as we continue to build partnerships and boost our capabilities in spearheading efforts to build an inclusive and safe digital ecosystem,” said Sazon.

“At GCash, we continue to look for ways on how we can enhance our services and continue pushing for innovations to serve Filipinos wherever they are,” she added.

GCash is the Philippines’ only double unicorn or duacorn with a valuation of over $2 billion. It has evolved beyond its core money transfer business – offering other financial services to the country’s millions of unserved and underserved individuals. These include fair lending, investment, insurance, cryptocurrencies, and other lifestyle services.

It’s also been expanding further by offering partner marketing solutions and ramping up its services for enterprise clients. GCash has also been broadening its reach through global payments partner, Alipay+, by allowing travelers to use the e-wallet for cashless transactions in 17 countries such as Singapore, Japan, and the USA. Likewise, it’s enabled users overseas to sign up for GCash using international mobile numbers in six countries like the USA, Italy, and Japan.

The Singapore FinTech Festival is organized by Elevandi, a non-profit organization set up by the Monetary Authority of Singapore (MAS), and Constellar, and in collaboration with MAS and the Associati. In its ninth year, the gathering focuses on “The Applications of AI in Financial Services” as it tackles how technologies such as AI and Web3 can help accelerate the transition to a low-carbon future; address the needs of the underserved; and secure the digital economy against risks.

 


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Grab delivery riders optimistic in new earnings model

Grab delivery-partners actively participate in a series of forums and town halls, engaging in discussion with Grab as the platform introduces the effort-based earning model.

• Following the implementation of the effort-based model, leaders from the Grab rider community have reported stable to slight increase in their earnings

• For its part, Grab is firm against misinformation discrediting the company and the new earning model

Leaders from the Grab delivery-partner community expressed their cautious optimism about the newly introduced effort-based model. Over the past two weeks since the launch of the restructured earning model, the community leaders have noted that their average income has either remained at par or has incrementally improved.

The rider leaders highlight how the new effort-based model is addressing their existing concerns by incorporating pickup distance and the merchant waiting time in their earnings computation. “Natutuwa ako na ngayon, nasasama na sa computation ang waiting time tsaka ‘yung effort, kumbaga, papunta sa merchant. ‘Yung kita ko, napansin ko hindi bumababa kumpara sa dati, minsan tumataas pa,” shares Jerry from the Grab delivery-partner community.

Continued Assessment and Observation

The initial results of the Metro Manila implementation of the effort-based model attest to its efficacy. Following this, rider leaders are pushing for continued collaboration with Grab to assess and calibrate the earning model in response to emerging trends and the ever-evolving macroeconomic landscape. “Totoong maganda ang paunang resulta ng bagong earning model ni Grab. Ngunit, dahil itong bagong model ay nagsisimula pa lamang, sinisigurado namin ang bawat miyembro ng aming komunidad na patuloy tayong makikipag-dayalogo kay Grab upang mas mapabuti ang mga programa tulad ng effort-based model,” notes John, a rider from Gen T Valenzuela Tambayan.

In a separate statement, Grab has committed to closely monitoring the outcomes of the new earning model. Currently, Grab is complementing the effort-based model with guaranteed minimum fares and holistic incentive programs to ensure earning viability for riders.

Two-Way Communication

The rider leaders have expressed their community’s gratitude for Grab’s proactive approach in fostering open dialogues with the rider community. Among them is Mon, who underscores the significance of actively participating in Grab’s forums and discussion platforms to facilitate a constructive exchange of ideas with the company’s leadership. “Aktibo talaga akong sumasama sa mga forum ni Grab, lalo na pag alam kong maapektuhan ‘yung aming kita. Natutuwa ako na may ganoong klaseng opportunity para kami mismo makapagbahagi ng aming opinyon sa liderato ng Grab.”

Mon also appreciates that Grab has made feedback and dispute mechanisms available for its delivery-partners. In light of the effort-based model launch, Mon shared that Grab activated a new help portal for riders to file reports around concerns like fare computation and actual merchant waiting time. This is crucial in ensuring that the riders’ earnings calculations adhere to the model.

Trust in the Platform

The rider leaders have recognized their industry colleagues’ apprehension, acknowledging that changes can often be overwhelming. Bong, however, is confident that as Grab continues to reach out, educate and obtain riders’ feedback regarding the new effort-based model, riders will gain a clearer understanding of its advantages and how it aligns with the current market and economic conditions — ultimately ensuring the platform’s sustainability. Bong shares, “Sa tagal ko na sa Grab, bilang isa sa mga pioneers noong 2018, marami na akong nakitang pagbabago. Natural lang na may mga tanong at kaunting kalituhan sa umpisa ng mga ganitong bagong patakaran, pero meron na kong kumpiyansa sa mga pinapatupad ni Grab dahil nakita ko kung paano ito nakakatulong sa aming mga riders, tulad na lamang nitong effort-based pricing. Sana sa mga kapwa kong delivery riders, intindihin nating maigi ang mga ganitong klase ng panukala bago magpadala sa ating emosyon at saloobin ng mga ibang tao, lalo na ‘yung mga wala naman talaga sa ating hanay.”

Bong highlights that the rider community acknowledges that Grab remains to offer the most competitive earning model versus other delivery platforms in the Philippines. In the same forum with Grab, leaders from various delivery-partner communities recognized the company’s commitment to optimizing the earnings potential of its delivery-partners to enable them to earn substantially above the minimum wage.

Battling Misinformation

For its part, Grab Philippines emphasized its firm stance against the misinformation being propagated to malign Grab and the new earning model to the delivery-partners. Grab is committed to imposing sanctions on entities that disseminate false information both within and outside the Grab delivery-partner community.

Delivery-partners are instead encouraged to approach any rider leader to clarify their questions and check relevant content shared via the Grab driver app.

 


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Biden meets with Indonesia president ahead of Xi summit

US PRESIDENT JOSEPH R. BIDEN — WHITEHOUSE.GOV

 – Leaders from the United States and Indonesia held discussions on Monday that will set the stage for US President Joe Biden‘s first in person meeting in a year with Chinese leader Xi Jinping later this week.

Mr. Biden greeted Indonesian President Joko Widodo at the White House as the two leaders prepare for a Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, where Washington hopes to reduce friction with Beijing. Mr. Biden is due to meet Mr. Xi on Wednesday.

The United States and Indonesia agreed to new cooperation in defense areas including cybersecurity, space, combined exercises and nuclear threats, the White House said. On climate, they agreed on efforts to support the electrical grid and improve air quality.

Reuters reported on Sunday that the two countries are working to advance a potential minerals partnership focused on the electric vehicle (EV) battery metal nickel, citing three people with direct knowledge of the conversations.

But the Biden administration is still concerned about environmental, social and governance (ESG) standards in Indonesia and is examining how such a deal might work. The two sides will unveil a plan that will prepare the countries for negotiations on the issue, one of the US officials said.

The White House said on Monday that Mr. Biden would announce a memorandum of understanding (MOU) between the two sides on sustainable energy and mineral development.

 

INDONESIA MAKES APPEAL TO US ON GAZA

Mr. Jokowi, as the president is known, pressed Mr. Biden on steps to end Israel’s war with Hamas.

Indonesia appeals to the US to do more to stop the atrocities in Gaza. Ceasefire is a must for the sake of humanity,” Mr. Widodo said in the Oval Office at the start of talks with the US president.

Indonesia, an archipelago of 270 million people, is the largest Muslim-majority nation. Many Muslims have been outraged by Mr. Biden‘s support for Israel after Hamas militants killed about 1,200 people and took more than 200 hostages on Oct. 7, according to Israeli officials. Palestinian officials have said Israeli strikes have killed more than 11,000 Gaza residents.

“The president will look to ask Indonesia to a play a larger role and to assist us,” in the Middle East, a US official said, without elaborating on what such an expanded role might entail.

Like several of its neighbors in Southeast Asia, Indonesia is economically intertwined with China as it navigates territorial disputes with its larger neighbor and wants to avoid getting caught in the middle by hostile Washington-Beijing relations.

Jakarta and Washington formally upgraded relations to the highest diplomatic tier as part of the leaders’ meeting.

The two leaders were expected to discuss Indonesia‘s diplomatic efforts to resolve the conflict in Myanmar, where the military took control in a 2021 coup and has been engaged in clashes with rebel alliances, one of the officials said.

“It’s going to be time soon for us to think about what our next steps are together to deal with a situation that is untenable,” the person said.

Mr. Jokowi, first elected in 2014, is constitutionally required to leave office next year after serving the maximum two terms. – Reuters

 

North Korea criticizes G7 as ‘remnant of the Cold War’

FREEPIK

 – North Korea criticized the Group of Seven countries as a “remnant of the Cold War” that causes conflicts for their own interests and violates other countries’ sovereignty, its state media KCNA said on Tuesday.

Jo Chol Su, director general of the Department of International Organizations at Pyongyang’s foreign ministry, condemned G7 foreign ministers for “slandering” the country’s exercise of “self-defensive and legitimate sovereignty” in a joint statement following a meeting last week in Tokyo.

The joint statement by the G7 called for humanitarian pauses in the Israel-Hamas war, reaffirmed support for Ukraine in its war with Russia, and condemned North Korea‘s missile tests and arms transfers to Russia.

G7, which has caused and fomented the recent international crisis, says this or that to find fault with independent sovereign states,” Jo said, according to KCNA.

G7 is just the main dangerous source of destroying global peace and security and the main stumbling block to the establishment of a just international order.”

The group can not represent the international community but protects a few countries’ interests, Jo said, singling out the United States as a supplier of deadly weapons to Ukraine to “deliberately destroy peace and stability” in Europe.

Jo also accused Washington of “conniving at and fomenting” military strikes at Gaza while “shielding Israel’s hideous massacre of civilians.”

“It has lost the justification for its existence,” Jo said. “G7, the remnant of the Cold War, should be dismantled immediately, and this will be the first step toward defusing the present international crisis and restoring global peace.”

The North Korean statement coincides with South Korea hosting representatives of 17 member states of the U.N. Command (UNC) enforcing the Korean War armistice. The talks on Tuesday where expected to renew a pledge to respond to any aggression by North Korea. – Reuters