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Still sharp at 36

Novak Djokovic was in a hole. Down two sets to none in the third round of the United States Open, he needed to find his stride in order to avoid getting eliminated from a Grand Slam tournament before the Round of 16 for the first time in 23 appearances. It wasn’t that he lacked confidence; for some reason, he was just, well, off — a step slow, hardly accurate with his groundstrokes, and unable to dictate rallies to his liking. Perhaps he just had trouble matching up with compatriot, friend, and frequent practice partner Laslo Djere; when they clashed at an ATP Tour 250 event in Serbia last year, he was two points from a loss and had to go the limit to triumph.

In any case, Djokovic wound up righting the ship after a trip to the locker room, a change of clothing, and, no doubt, a reminder to himself about his ultimate objective. In taking the next three sets, he allowed Laslo to win only five games all told. Not that the going was as easy as the numbers indicated. The rallies remained long, and he had to construct points in just about every instance. The flipside, of course, was that he could finally do it to his liking and, yes, to his benefit. In the third set, he claimed his first break of the set-to following a 27-stroke exchange. In the fourth, he won break point at 1-1 after a 10-minute struggle.

Djokovic earned victory after a good three and a half hours of toiling, but he looked fresh in the aftermath. Addressing what remained of the Arthur Ashe Stadium crowd at 1:30 in the morning, he argued that the contest “was nerve-racking all the way until the last shot.” At the same time, he acknowledged that in crafting his eighth career comeback from a two-set deficit in a major tournament, he effectively sent the message “that I’m still able to play five sets deep at night.” Indeed, there can be no discounting his physical and mental sharpness even at 36.

It bears noting that Carlos Alcaraz, defending champion and top seed, entertained no thoughts of Djokovic succumbing to Djere. “I watched the first two sets, [and] then I had to go to sleep,” he disclosed “But when I [went] to bed, I was thinking, ‘Novak is going to come back, that’s for sure.’” Which is to say all and sundry to expect the two to set fireworks at Flushing Meadows by week’s end. At stake is more than just the US Open title; bragging rights are likewise on the line. And when it comes to the rivals, one is no less significant than the other.

 

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.

North Korea stages ‘tactical’ nuclear attack

Military personnel take part in a parade to mark the 90th anniversary of the founding of the Korean People’s Revolutionary Army in Pyongyang, North Korea, in this undated photo released by North Korea’s Korean Central News Agency on April 26, 2022. — KCNA VIA REUTERS

SEOUL — North Korea conducted a simulated “tactical nuclear attack” drill on Saturday that included two long-range cruise missiles, state media reported on Sunday, as leader Kim Jong Un inspected shipbuilding and munitions factories.

The KCNA news agency said the drill was carried out early on Saturday to “warn enemies” that the country would be prepared in case of nuclear war as Pyongyang again vowed to bolster military deterrence against Washington and Seoul.

The two cruise missiles carrying mock nuclear warheads were fired towards the West Sea of the peninsula and flew 1,500 kilometers (930 miles) at a preset altitude of 150 meters.

A separate statement said Mr. Kim visited Pukjung Machine Complex, which produces marine engines, and a major munitions factory to stress the importance of strengthening Pyongyang’s naval forces.

“He affirmed that a future plenary meeting of the Central Committee of the WPK (Worker’s Party of Korea) would set forth an important modernization of the complex and the development direction of the shipbuilding industry,” the KCNA statement said.

The statement did not specify the date of his visit.

The latest missile test came just after the joint annual summertime exercises between South Korea and the U.S., known as Ulchi Freedom Shield, came to a close on Thursday after an 11-day run, featuring air drills with B-1B bombers.

North Korea has been stepping up its military deterrence against Washington and Seoul and has criticized last month’s summit agreement between the two on improving military cooperations.

A KCNA statement on Aug. 21 said Kim recently visited a navy fleet stationed on the east coast to oversee a test of strategic cruise missiles aboard a warship, and stressed the ship would maintain striking power for combat situations. — Reuters

Indonesia offers ‘golden visa’ to entice foreign investors

INDONESIAN national flags fly at a business district in Jakarta, Indonesia, Feb. 5, 2021. — REUTERS

JAKARTA — Indonesia is introducing a golden visa scheme to attract foreign individual and corporate investors in an attempt to boost its national economy, a statement from the ministry of law and human rights distributed on Sunday said.

“The golden visa is granting a residence permit for an extended period of five to 10 years,” director general of immigration, Silmy Karim said in the statement.

The five-year visa requires individual investors to set up a company worth $2.5 million, while for the 10-year visa, a $5 million investment is required.

Other countries around the world including the US, Ireland, New Zealand and Spain have introduced similar golden visas for investors, seeking to attract capital and entrepreneurial residents.

Meanwhile, corporate investors are required to invest $25 million to get five-year visas for directors and commissioners. They need to invest double, or $50 million, to gain a 10-year visa.

Different provisions apply to individual foreign investors who do not want to establish a company in the Southeast Asian country. The requirements range from $350,000 to $700,000 in funds that can be used to purchase the Indonesian government bonds.

“Once they arrive in Indonesia, golden visa holders no longer need to apply for permit,” Silmy Karim said. — Reuters

Japan’s ‘militarization’ complicates Asia-Pacific — Medvedev

A person holds Japan’s national flag at the Imperial Palace in Tokyo, Japan, Jan. 2, 2020. — REUTERS

JAPAN’S “militarization” complicates the situation in the Asia-Pacific region, the deputy chair of the Russian Security Council and former President Dmitry Medvedev said on Sunday.

Russia and Japan have complex relations marked by decades of territorial dispute over a handful of small, Russian-held islands off Hokkaido that Moscow calls the southern Kurils but Japan claims as its Northern Territories.

The dispute over the area, which the Soviet Union seized in the final days of World War II, has prevented Tokyo and Moscow from reaching a peace treaty formally ending hostilities.

“It is regrettable that the Japanese authorities are pursuing a course towards a new militarization of the country,” the Russian TASS news agency quoted Mr. Medvedev as saying.

“Troop exercises are taking place near the Kuril Islands, which seriously complicates the situation in the Asia-Pacific region.”

Japan’s foreign ministry and Prime Minister’s Office could not immediately be reached for comment outside business hours.

Russia decided this year to declare Sept. 3 – the day after Japan’s surrender in World War II — a “Day of Victory over Militaristic Japan”, spurring a protest from Tokyo.

Mr. Medvedev said Japan, with help from the United States, was expanding its military infrastructure and increasing its arms purchases.

Japan’s defense ministry on Thursday sought a record $53 billion in next fiscal year’s budget, part of its biggest military buildup since World War II, aiming to double defense spending to 2% of gross domestic product by 2027, citing an increasingly assertive China and an unpredictable North Korea. — Reuters

Pope, quoting Buddha, urges religious dialogue to fight fundamentalism

ULAANBAATAR — Calling himself one of the “humble heirs” of ancient schools of wisdom and quoting the Buddha, Pope Francis on Sunday urged all religions to live in harmony and shun ideological fundamentalism that foments violence.

Francis was speaking at an inter-religious meeting in the Mongolian capital and sharing the stage in an theatre with a dozen other religious representatives — the type of gathering that Pope Francis’ conservative critics have assailed in the past.

The primary purpose of the pope’s visit to Mongolia is to meet the country’s tiny Catholic community, at 1,450 members one of the world’s smallest. He is due to say a Mass for them later on Sunday. Mongolia borders with China and the pope has also used trip to send an apparent message to Beijing, which has difficult relations with the Vatican, that governments have nothing to fear from the Catholic Church because it has no political agenda.

Since he started the trip, Pope Francis has praised religious freedom in Mongolia, which was severely repressed while the country was in the Soviet Union’s sphere of influence — a fact mentioned by one of the Buddhist leaders who addressed him.

“Religions are called to offer the world this harmony, which technological progress alone cannot bestow,” Pope Francis said after listening to addresses from leaders representing Mongolian Buddhists, Muslims, Evangelicals, Jews, Orthodox, Mormons, Hindus, Shintos, Bahais, and Shamans.

“Brothers and sisters, today we are meeting together as the humble heirs of ancient schools of wisdom. In our encounter with one another, we want to share the great treasure we have received, for the sake of enriching a humanity so often led astray on its journey by the myopic pursuit of profit and material comfort,” he said.

Pope Francis quoted from a writings of the Buddha that says “the wise man rejoices in giving,” noting it was similar to Jesus’ saying “It is more blessed to give than to receive.”

Conservative Catholics, such as Bishop Athanasius Schneider of Kazakhstan, have lambasted the pope for even attending such gatherings, calling them “a supermarket of religions” that diminishes the status of the Catholic Church.

But the pope repeated on Sunday that he put great importance in “ecumenical, inter-religious and cultural dialogue.” He said dialogue did not mean “to gloss over difference” but to seek understanding and enrichment.

He condemned “narrowness, unilateral imposition,

fundamentalism and ideological constraint,” saying they destroy fraternity, fuel tensions and compromise peace.

“There can be no mixing, then, of religious beliefs and violence, of holiness and oppression, of religious traditions and sectarianism,” Pope Francis said.

Several of the leaders, including the Jewish representative Yair Jacob Porat, and the shaman, imparted a special blessing from their religions on the pope, wishing him health and a long life.

There are only a handful of permanent Jewish residents in Mongolia, with the community ministering mostly to tourists and business travelers. — Reuters

Amaia triumphs in Real Estate Category of the International Business Awards

Amaia Series Nuvali – the only 3-storey townhouse development in Nuvali estate

Amaia Land, a subsidiary of Ayala Land, was awarded a Gold Stevie Award for “Company of the Year” in the Real Estate (Large) category at the prestigious International Business Awards. Besting entries from countries around the globe, Amaia considers this truly a proud moment given that is an affordable housing developer catering to the middle-income segment of the Philippine market.

Amaia has established itself as a true industry innovator over the course of the past 13 years by setting new benchmarks in design, quality and sustainability for the market that it serves.  The Company has revolutionized the affordable real estate market since its inception more than a decade ago with its commitment to developing homes that respond to the needs of the Filipino people. Amaia has launched over 35,000 residential units in 40 projects across Luzon, Visayas and Mindanao. Over 20,000 units have been delivered to buyers. Amaia’s developments, whether situated amid the hustle and bustle of urban cities or set against tranquil surroundings, offer a diverse range of possibilities for homeowners. These include flexible houses of 50, 60 and 80 sqm, spacious townhouses of 65 and 100 sqm, and prime condominium units of 18 to 42 sqm.

A staunch supporter of sustainability, Amaia has incorporated various eco-friendly features in its developments. New projects are equipped with solar power for common amenities, have incorporated water-saving fixtures in the units, utilize sustainable materials and provide greater open spaces to promote healthy outdoor living. This commitment to sustainability affects not only the environment but benefits the homeowners as well.

Recently, Amaia has introduced new and innovative offers to make homeownership even easier and within reach of its market. Various digital platforms, including online interactive digital tours, are available to facilitate the selection process for property seekers. Moreover, value-for-money packages with easy-on-the-pocket payment terms aim to make Amaia’s quality and secure homes accessible to an even greater number of hard-working Filipinos.

 

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PHL factory activity contracts in August

REUTERS

By Luisa Maria Jacinta C. Jocson, Reporter

MANUFACTURING activity in the Philippines contracted for the first time in two years last month, but “many companies” are getting ready for increased buying activity in the remaining months, according to S&P Global.

The S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) reading stood at 49.7 in August, down from 51.9 in July.

August marked the first time in two years that the PMI reading was below the 50 mark, which denotes a deterioration in operating conditions. A reading above 50 signals improvement.

Manufacturing Purchasing Managers’ Index (PMI) of select ASEAN economies, August 2023

“The Filipino manufacturing sector signaled a deterioration in business conditions in August as new orders fell for the first time in a year, while output growth cooled,” S&P Global said. “Moreover, manufacturing employment was pared back for the third successive month and at the strongest pace in nearly two years.”

“Firms attributed falling order volumes to waning underlying demand conditions, with poor weather conditions also playing a part to hamper inflows of new businesses,” it added.

The headline PMI measures manufacturing conditions by calculating the weighted average of five indices: new orders (30%), output (25%), employment (20%), suppliers’ delivery times (15%), and stocks of purchases (10%).

Among Southeast Asian countries with available data, the Philippines, Thailand (48.9), and Malaysia (47.8) all posted contractions. On the other hand, Indonesia recorded the highest PMI reading (53.9), followed by Myanmar (53).

Maryam Baluch, an economist at S&P Global Market Intelligence, said that the latest PMI reading presents a “mixed picture” for the Philippines.

“While the headline PMI figure signaled an end of the growth period seen over the past two years, at the same time many companies were also gearing up for greater sales in the coming months, with buying activity and stocks raised in August,” she said in a statement.

“However, weak underlying demand trends as pointed by the first drop in new orders in a year and the ongoing reductions in staffing levels show visible cracks in the sector,” she added.

S&P Global also noted that while new orders from overseas markets rose in August, this upturn was still “marginal.”

“Reflective of the fall in new orders, the rate at which output grew softened on the month to post the weakest expansion in a year, while the latest uptick in buying activity was at a three-month low,” it said.

Job shedding also contributed to the deterioration in business conditions, S&P Global said.

“In line with cooling business requirements, firms cutback on their staffing levels for the third straight month,” it said.

“Panellists reported that resignations and non-renewal of contracts also contributed towards the latest downtick. While the rate of job shedding was moderate overall, it was the strongest in 23 months. With unfinished work recording back-to- back contractions, the latest survey also indicated that a lack of pressure on operating capacity acted as a brake on manufacturing employment,” it added.

Latest data showed that cost pressures intensified amid higher prices of fuel and raw materials.

“However, charge inflation softened on the month and was marginal overall as reports of greater market competition meant that some firms discounted their products,” it added.

Manufacturing firms have reported that they were “keen to build on their stocks and create buffers in anticipation of greater sales in the months ahead,” according to S&P Global.

Ms. Baluch noted that high interest rates and persistent inflation, as well as China’s weaker-than-expected growth, “could potentially result in subdued growth in the coming months.”

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said that the contraction in factory output during the month may be due to still-elevated inflation.

“Manufacturing PMI declined to new two-year lows partly due to higher prices that reduced consumption and spending, as well as higher interest rates that raised borrowing costs that weighed on investments, including those for manufacturing,” Mr. Ricafort said in a Viber message.

The Bangko Sentral ng Pilipinas (BSP) expects inflation to settle within the 4.8% to 5.6% range in August amid high rice and fuel prices.

If realized, inflation would pick up from the 4.7% print in July. This would also exceed the central bank’s 2-4% target band for the 17th straight month.

The Philippine Statistics Authority is set to release August inflation data on Sept. 5.

“Furthermore, softer manufacturing and services PMI data for many developed countries around the world, also mostly at contraction mode or below 50, also partly reduced the demand for exports and dragged on local manufacturing activities,” Mr. Ricafort added.

He also said that factory activity may pick up in the remainder of the third quarter “due to the seasonal increase in importation, manufacturing, and other production activities.”

“(This is) in preparation for the seasonal increase for both the local and export market, in the fourth quarter during the holiday season, a consistent pattern seen for many years and decades.”

NBA, vivo announce multi-year marketing partnership in the Philippines

vivo returns as Official Smartphone of the NBA in the Philippines

The National Basketball Association (NBA) and vivo today announced a multi-year marketing partnership that sees vivo return as the Official Smartphone of the NBA in the Philippines.

The agreement builds on a previous marketing partnership in the Philippines that saw vivo serve as an official partner of the Jr. NBA – the league’s global youth basketball program for boys and girls – and NBA 3X Philippines, a 3-on-3 basketball tournament featuring men’s and women’s teams, interactive fan activities and authentic NBA entertainment.

Through the collaboration, vivo will be the Presenting Partner in the Philippines of NBA All-Star Voting – a platform that gives fans the opportunity to vote for the NBA All-Star Game starters via the NBA App and NBA.com – and return as an official partner of NBA 3X Philippines presented by Mountain Dew, which will take place later this year.

Under the new agreement, select vivo stores will feature dedicated NBA sections, which will display vivo smartphones streaming NBA games and programming on NBA League Pass, the league’s premium live game subscription service available on the NBA App.

In addition, vivo will launch promotions that will provide fans in the Philippines with the chance to win authentic NBA prizes. The NBA and vivo will also co-develop content for the NBA’s localized Facebook and TikTok pages in the Philippines.

“We’re thrilled to welcome vivo back to our growing roster of marketing partners in the Philippines and align with a brand that shares our commitment to innovation,” said NBA Philippines Senior Director of Global Marketing Partnerships Mae Dichupa. “Our collaboration with vivo represents an excellent opportunity to elevate the NBA experience across digital, retail and events, and showcase vivo’s smartphones as a convenient and ideal device for fans to immerse themselves in the excitement of the NBA.”

“Our passion for innovation extends beyond the confines of technology, and we recognize that sports provide an ideal platform to bring communities together and inspire positive change in the way we live our lives,” said vivo Philippines management. “This guiding principle reinforces our efforts to collaborate with sports organizations such as the NBA that enable us to foster a deeper connection between our brand and the world of sports.”

Fans in the Philippines can shop for official NBA merchandise at the NBA Stores at SM Megamall and SM Mall of Asia and at NBAStore.com.ph. For all the latest NBA news and updates, fans in the Philippines can visit www.nba.com, download the NBA App, and follow the NBA on Facebook, X, and TikTok.

For more information on vivo Philippines and vivo’s latest product offerings, visit vivoglobal.ph and follow the official vivo accounts on Facebook, X, Instagram, TikTok, and YouTube.

 

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Marcos sets ceiling on rice prices

President Ferdinand R. Marcos, Jr. speaks at an event with the Filipino community in Washington, D.C., May 1, 2023. — KRIZ JOHN ROSALES/PPA POOL

Philippine President Ferdinand R. Marcos, Jr. has set price ceilings for rice, his office said on Friday, to keep the cost of the national staple in check and deal with an “alarming increase” in retail prices.

The price ceiling for regular milled rice was set at P41 ($0.72) per kilogram, while the price for well-milled rice was set at P45 ($0.79) per kg, with the mandated ceilings to remain in effect until lifted by the president.

Local and imported well-milled rice are currently sold at between P47 to P56 in the capital region, while local and imported regular-milled are priced at P42 to P55 as of Aug. 30, the agriculture ministry said.

Despite a steady supply of rice, authorities have reported “widespread practice of alleged illegal price manipulation, such as hoarding by opportunistic traders and collusion among industry cartels in light of the lean season,” the presidential office said in a statement.

The Southeast Asian country is also feeling price pressures from global events like the Russia-Ukraine conflict, India’s ban on rice exports, and unpredictability of oil prices, it added.

Mr. Marcos, who is also the agriculture minister, earlier this week ordered authorities to double efforts to hunt down rice hoarders and take steps to curb rice inflation, which hit 4.2% in July, the highest since 2019.

The Philippines is one of the world’s biggest importers of the grain and its retail rice prices climbed further last month, with some varieties surging as much as 25% in some markets in and around the capital.

The Philippines’ rice supply for the second half will reach 10.15 million metric tons, of which 7.2 tons is the expected yield from local output. Along with imports and existing inventory, it will allow the country to end the year with stocks good for 64 days of domestic demand.

A farmers’ group welcomed the move.

“There is no reason for any price increase these past weeks as there is no rice shortage in the country,” the group, SINAG, said in a statement.

Inflation has remained well above the Philippine central bank’s target range of 2% to 4%, keeping it on its toes even as it held the policy rate steady for three straight policy meetings, after a series of hikes totaling 425 basis points.

“Monetary policy has little ability to control food inflation, but the Bangko Sentral ng Pilipinas may need to act if second-round effects become prominent and inflation expectations are de-anchored,” ANZ economists said in an Aug. 25 note, using the official name of the central bank. — Reuters

Santé’s 16th anniversary press conference ignites the ‘Rise Up’ movement: Empowering lives and inspiring transformation

From left to right: Santé's CEO Joey Marcelo, COO Mike Sibayan, and Marketing Director Lorelie Acop come together at Santé’s International Headquarters to discuss the brand’s 16th-anniversary initiatives.

Introducing a new product to the market and honing a brand is no easy task. Still, in sixteen years, Santé has successfully expanded its operations globally, increased its business owners’ reach and numbers to keep up with the demand for barley nutraceuticals, and diversified its product line and offerings to its customers and business partners.

With its mantra of Live More. Do More., Santé continues its goal of offering Filipinos high-quality barley grass products to enhance their health and well-being, while also serving as a preferred partner for achieving a better life. Within sixteen years, Santé has dominated the barley grass industry and successfully risen up to be on top, positioning the brand as the barley authority that Filipinos can take pride in.

This was the theme of Santé’s 16th Anniversary, which kicked off with a press conference at the Santé International Headquarters in Silang, Cavite on Monday, Aug. 14. Guests gathered to commemorate Santé’s significant milestones from its humble beginnings to where the brand is now: at the top, yet still rising up to the challenge of making an impact on people’s well-being and quality of life, extending beyond borders and touching the lives of individuals across countries and cultures to help them live better lives.

Santé CEO Joey Marcelo welcomes guests to Santé’s 16th Anniversary Press Conference.

During the press conference, Joey Marcelo, Santé’s chief executive officer, unveiled Santé’s expansion plans to tap more markets globally, emphasizing Santé’s strength as a Filipino brand with an impactful global presence, currently operating in 10 countries. Mr. Marcelo noted that the pandemic has led to a demand for health and wellness products, and this trend will continue even with the country’s economy on a path to full recovery. Santé is fully prepared to address this demand by further expanding its business owners’ reach through retail and global expansion, providing Filipinos all around the globe with the necessary support to live better lives.

“We are more than just a Filipino company when we uplift our business partners, we are also uplifting the communities they belong to through our quality products and services,” Mr. Marcelo said. Santé, at its core, is a Filipino company, from its foundation to its operations, the brand aims to help fellow countrymen wherever they are across the globe. “It’s definitely a brand that the Philippines can be proud of, and our track record speaks for itself,” Mr. Marcelo added.

Also present in the press conference was Santé’s Chief Operating Officer Mike Sibayan, who highlighted the strength of Santé’s business operations and supply chain. With direct selling at its core, business partners are provided a self-owned entrepreneurial platform with flexible working hours, additional income, and the benefits of actual employees in a standard company.  “This, along with Santé’s global presence, our partners are exposed to various cultures and learning best practices from a diverse set of individuals all united under Santé’s vision of a healthy lifestyle and financial security make the brand the premier employer of choice,” Mr. Sibayan added.

The event also highlighted the company’s 16th-anniversary gathering for its business owners, partners, and special guests, which will take place on Aug. 15 at SMX Convention Center. Hosted by James Deakin, the event will treat Santé’s loyal partners with a day of inspiration through its guest speakers, Angeline Tham Xiwen, the founder of Angkas; Chinkee Tan, the Pambansang Wealth Coach; and influential motivational speaker and author Francis J. Kong.

Santé’s event will also feature its elite leaders who achieved a financial boost through their business partnership with the company. “We will also be recognizing significant members who have delivered growth and amazing results through their business with Santé,” said Marketing Director Lorelie Acop. “Santé is all about empowering our partners, which is why we dedicated a special gathering for them to recognize their achievements, which helped the company Rise Up to its status today,” Ms. Acop added.

To further celebrate its 16 years of success, Santé gifted sixteen lucky attendees with sixteen prizes, ranging from a weekend getaway at Santé’s Leisure Club, an overnight stay at Pico de Loro Santé, Santé’s yacht experience, and a three-month membership in Santé’s Fitness Lab: showcasing Santé’s further ventures outside of nutraceuticals that showcase the brand’s commitment to holistic wellness.

Santé continues to be at the forefront of revolutionizing health and wellness in the Philippines for 16 years through its business operations and ventures, reflecting Santé’s unwavering commitment to transforming lives and communities. By announcing its global expansion plans, sharing insights into its premier employer status, and setting the stage for the SMX convention, Santé is poised to create waves in the health and wellness industry.

 

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Asiamoney awards Standard Chartered Bank as Best Bank for Diversity and Inclusion

Standard Chartered Bank (SCB), the oldest international bank in the country, has been named Best Bank for Diversity and Inclusion (D&I) in the Philippines at the 2023 Asiamoney Awards, announced yesterday. The bank was cited for its commitment to promote economic inclusion by lifting participation of the youth, especially young women, in the community through education and livelihood support.  Futuremakers by Standard Chartered is the bank’s global initiative to tackle inequality by supporting disadvantaged young people to learn new skills, increase their employability or provide them access to funding to start their own businesses.  SCB Philippines currently works with the largest microfinance institutions in the country to provide equitable access to financial support for women-led micro and small businesses nationwide.

Leader in diversity and inclusion

SCB has received numerous accolades in recent years for its policies in promoting diversity and inclusion.  It ranked 36th in the 2022 Equileap Top 100 organizations for gender equality globally; 7th in the top 10 financial sector companies; recognized on the Bloomberg Gender Equality Index 2022 for the seventh year in a row; and ranked 73rd in the Refinitiv D&I Index Score 2022 for the second time in a row. 

For years, SCB has embedded diversity and inclusion into its organizational DNA, celebrated female role models and allies to reaffirm its commitment to gender equality.

In 2018, SCB signed a statement of support for the UN Women Empowerment Principles to reinforce its ongoing commitment to gender equality.  The bank also signed the UK HM Treasury Women in Finance Charter and has seen a positive trend in female representation in its senior leadership roles.  As of end of 2022, women represented 32% of Standard Chartered Bank’s senior leadership roles across its markets, and working to achieve its global target of 35% by 2025.

As part of its commitment to fostering an equitable and inclusive culture, the bank continuously looks at how progressive, purpose-led benefits can improve employees’ experience and help them achieve their potential.

SCB offers industry-leading policies and benefits. It is the only bank which offers its employees minimum 20-week paid maternity and parental leaves, irrespective of gender, relationship status or how a child comes to permanently join an employee’s family.   This is part of the bank’s commitment to address globally prevalent societal norms around traditional roles, improve workforce participation, and provide options to those who want to take up shared childcare responsibilities.

Even before the pandemic, SCB already has a flexible workplace policy in place.  The bank has implemented a permanent hybrid working model giving its employees the opportunity to work flexibly without sacrificing client service delivery and commitments. This data-led approach to work combines remote and office-based working with greater flexibility in working patterns and locations with the objective to redesign jobs, enable its workforce and prepare for the way forward.

SCB’s policy on flexible working practice and enhanced employee benefits is aligned with its aspiration to be a human organisation and a great place to work.  Following the global roll-out of the policy, every employee across all its markets now has the opportunity to balance their professional and personal responsibilities.

Rowena Kapunan, Interim Chief Executive Officer, Standard Chartered Bank Philippines, said: “An inclusive environment enables us to bring the best out of our people. We are proud to take a holistic approach in empowering our staff to succeed at work and in their private lives through our enhanced policies, and are confident that an environment that genuinely respects professional and personal balance is a remarkable competitive edge.”

Gender inclusive Philippines

In the World Economic Forum (WEF) 2023 Global Gender Gap Report released in June, Philippines ranked 16th place in gender equality among 146 countries in the world, based on 4 categories: economic participation and opportunity, educational attainment, health and survival, and political empowerment.

SCB Philippines has 59:41 women to men gender ratio, and women hold 73% of the bank’s senior management positions.

SCB Philippines was recognized as the 2021 UN Women WEP Award Champion for Leadership Commitment, and in 2022 won 1st Runner Up in the Gender Inclusive Workplace category.

The bank believes that an inclusive culture is central to enabling its unique diversity and driving performance. It values and celebrates diversity across its markets and ensures that all employees are entitled to be treated fairly, equally and with respect.   By focusing on employee wellbeing, Standard Chartered strives to be a differentiated workplace and best place to work.

 

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Countdown to greatness: Celebrating excellence with our valued sponsors

In just a matter of weeks, the highly anticipated Philippine Finest Business Awards and Outstanding Achievers will set the stage ablaze, honoring exceptional achievements and remarkable talent. We would like to take this moment to highlight and express our deepest gratitude to our esteemed sponsors who have made this event an unforgettable celebration of excellence.

As we count down the weeks, let us shine the spotlight on MountainTop Coffee Beans, a company known for its unwavering commitment to quality and innovation. Its support has elevated the event to new heights, aligning its brand with the pursuit of excellence and success.

Rich B Health and Beauty Products Trading, a beacon of beauty and wellness, has joined hands with us on this exhilarating journey. Its dedication to enhancing lives and empowering individuals perfectly complements the essence of the Philippines Finest Business Awards. 

The Hexagon Events Place, our esteemed venue partner, has created the perfect setting for this grand celebration. With its exquisite facilities and attention to detail, it has ensured that every moment of the event is filled with glamour and enchantment.

JP Catering Services renowned for its culinary mastery, will tantalize our taste buds and create a gastronomic experience like no other. Its passion for delighting guests with exceptional flavors and impeccable service adds a touch of elegance to the occasion.

Densol’s Catering, a company that has catered to different types of events including social events and corporate events, has taken its services to the next level by bringing to the table premium and opulent event styling.

Bhylinn’s Modern Fashion, and Gown and Events Management by Touting, our valued primary sponsors, has also played an integral role in making this event a resounding success. Its support and commitment to excellence have added even more vibrancy and elegance to the Philippines Finest Business Awards.

Together, our sponsors have woven a tapestry of support, setting the stage for greatness and transforming the Philippines Finest Business Awards into an extraordinary event that will leave a lasting impression.

Join us as we honor outstanding achievers, recognize excellence, and celebrate the very best in the business industry. The countdown has begun, and the excitement is palpable. Prepare to be mesmerized as dreams are realized, and success stories are unveiled.

Mark your calendars for the grand event on Sept. 8, 2023 at The Hexagon Events Place in Quezon City. Stay tuned to our social media channels for updates, behind-the-scenes glimpses, and exclusive content leading up to the big day.

To our valued sponsors and partners, MountainTop Coffee Beans, Rich B Health and Beauty Products Trading, The Hexagon Events Place, JP Catering Services, Densol’s Catering, Bhylinn’s Modern Fashion, and Gown and Events Management by Touting, we extend our heartfelt appreciation for your unwavering support, dedication, and belief in the power of recognizing excellence. You have truly made a remarkable impact on this incredible journey.

Get ready to witness greatness, as the Philippine Finest Business Awards propels us into a world of achievements and triumphs. Let the countdown continue, as we embark on a celebration like no other!

Follow us on social media for the latest updates and join the conversation using #PhilippinesFinestBusinessAwards.

 

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