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Former Customs chief and businessman Alberto Lina dies at 76

ALBERTO D. LINA
ALBERTO D. LINA

FORMER CUSTOMS Commissioner Alberto “Bert” D. Lina, founding chairperson of the Lina Group of Companies (LGC), has passed away at the age of 76.

LGC announced Mr. Lina’s passing on Tuesday, though the date and cause of his death were not disclosed.

“As we mourn his passing, we celebrate a life dedicated to service, ‘pakikisama,’ and compassion. We are forever grateful to our Lord Jesus Christ for blessing us with such an extraordinary leader and mentor,” LGC said in a statement.

“The Lina Group of Companies will honor his memory by continuing his vision of excellence in service and commitment to national development.”

A memorial Mass will be held on Feb. 27 at St. James the Great Parish, Ayala Alabang Village, Muntinlupa, LGC said.

The company has requested that, instead of flowers, donations be made to causes important to Mr. Lina, such as Guiding Light Ministries of Aklan, Inc. and the Philippine Red Cross.

Mr. Lina served as Bureau of Customs commissioner twice, in 2005 and from 2015 to 2016. He was also the founder of logistics company Air21. — Ashley Erika O. Jose

Dollar firms on renewed tariff worries

REUTERS

SINGAPORE/LONDON — The dollar steadied on Tuesday, having fallen to its lowest in more than two months against a basket of major currencies a day earlier, buoyed by safe-haven flows after US President Donald J. Trump said tariffs on Mexico and Canada would proceed as planned.

Mr. Trump on Monday said tariffs on Canadian and Mexican imports were “on time and on schedule” despite efforts by the countries to beef up border security and halt the flow of fentanyl into the US ahead of a March 4 deadline.

Many had hoped the top two US trading partners could persuade his administration to further delay tariffs that would apply to over $918 billion worth of US imports from the two countries, from cars to energy.

But Mr. Trump’s comments spurred a rush to safety assets like gold and US Treasuries, and helped stabilize the dollar, which has fallen some 3% from its January peak, after weaker-than-expected US economic data that stoked worries over its growth outlook.

That left the euro at $1.04672, a touch off Monday’s one-month peak hit in the aftermath of the German election, and the pound at $1.2618, just off Monday’s two-month high.

The Japanese yen, which has been boosted by market bets on further rate hikes from the Bank of Japan, was steady at 149.5 a dollar after reaching 148.5 a dollar on Monday, its strongest since mid-December.

The combination of those moves left the dollar index, which tracks the unit against six peers, at 106.60, up from Monday’s two-month low of 106.10.

“Since the last week or two, the incoming economic news from the US is really playing to this narrative that the US is kind of losing its economic exceptionalism,” said Ray Attrill, head of FX strategy at National Australia Bank. “But whenever we see a reasonable risk-off tone in equity markets… the dollar gets its sort of traditional safe-haven support.”

“Heading towards these key tariff deadlines, it’s hard to see a significant recovery in risk sentiment … and that’s going to keep defensive support for the US dollar in place,” he added.

The Canadian dollar was at C$1.4257 a dollar, its weakest in over a week, but a far cry from the C$1.4792 a dollar to which it had tumbled on Feb. 3, in the aftermath of Mr. Trump’s initial announcement of tariffs on Canada.

Options markets also hiked expectations of the volatility they expect for the Canadian dollar to their most in two weeks, but again, levels were well short of those at the start of the month.

In Europe, eyes remained on German politics, where the conservatives’ Friedrich Merz was looking to quickly form a government after winning a national election on Sunday, but faces tricky coalition talks and the prospect of an obstructive parliament after far-right and far-left parties surged.

That has left investor hopes of greater borrowing and spending, that would have a positive effect on the euro, up in the air. Reuters

Defying China’s reckless actions in the West Philippine Sea

PHILIPPINE COAST GUARD

Just when we thought we had seen enough of China’s mischief right in our own waters, a few days ago we learned that China outdid itself yet again.

On Feb. 18, a People’s Liberation Army (PLA) Navy helicopter performed aggressive maneuvers near a Bureau of Fisheries and Aquatic Resources (BFAR) plane. The BFAR plane was a civilian one, conducting a lawful maritime patrol within Philippine territory. Without any provocation, the PLA helicopter harassed it, flying as close as three meters above the aircraft and endangering the lives of the Filipinos who were on board.

What reckless, hostile, and arrogant behavior. What a flat-out disregard of international law and, in fact, basic decency.

Then again, this incident is not isolated. On Feb. 11, the Australian government expressed grave concern about an “unsafe and unprofessional interaction with a PLA Air Force Aircraft.” It turns out that this PLA aircraft released flares in close proximity to an Australian aircraft which was conducting a routine maritime surveillance patrol in the South China Sea, flying in international airspace.

Rightly so, China’s acts of aerial mischief have earned it the condemnation of the international community.

For instance, Australian Ambassador HK Yu said the maneuvers of the Chinese aircraft created risks of an accident and miscalculation.

The spokesperson for the United States Department of State, Tammy Bruce, said that the US “stands with its ally the Philippines to condemn the unsafe and irresponsible actions by the Chinese People’s Liberation Army-Navy (PLAN) to interfere with a Philippine maritime air operation in the vicinity of Scarborough Reef.”

The US described the incident as “a threat to navigation and overflight.” It reaffirmed American support for the Philippines, saying that the 1951 Mutual Defense Treaty extends to armed attacks on the Philippines’ military and civilian vessels and aircraft, including the Coast Guard, anywhere in the West Philippine Sea.

And then, British Ambassador Laure Beaufils also expressed concern, stating that “these acts increase risk of miscalculation, which endangers lives.” She also urged that countries should adhere to the rule of law.

Meanwhile, South Korean Ambassador Lee Sang Hwa also said that the incident could have jeopardized the aircraft and personnel on board.

“The Embassy reaffirms its support for peace, stability, safety, and freedom of navigation and overflight in accordance with international law, including UNCLOS.”

WHAT TO DO
The aggressive acts perpetrated by China are neither new nor unexpected. But the audacity that China has been increasingly showing in recent days and weeks demonstrates its extremely low regard for the United Nations Convention on the Law of the Sea (UNCLOS), the Chicago Convention, and all other international laws. Its actions show its blatant dismissal of the rules-based international order in putting its own interests supreme.

Given all this, what can a country like the Philippines do?

For the most recent incident involving our BFAR plane, the Philippines filed yet another diplomatic protest against China. Earlier, the Presidential Office for Maritime Concerns decried the “unprofessional and reckless flight maneuvers” of China’s Harbin Z-9 helicopter.

But beyond the protests for each act of aggression, we can no longer deny that a decisive, long-term stance has to be in place to deal with China’s bullying in both the maritime and aerial domains in the West Philippine Sea. It is essential for the Philippines to continuously build its external defense posture. This will ensure the security of the country, as well as its people.

We are fortunate that our security and defense officials appreciate the magnitude of the problem. We have adopted the Comprehensive Archipelagic Defense Concept (CADC) now being operationalized by the Armed Forces, which aims to develop the Philippines’ capability to protect its entire territory including its Exclusive Economic Zone (EEZ) to ensure that the next generation of Filipinos will be able to enjoy its natural resources. The CADC allows us to defend the country’s sea lanes of communication and all of our maritime territories.

A big part of the shift to external defense mode is to strengthen and expand security cooperation with like-minded partners to defend the rules-based order. We have also been actively doing this, as can be seen throughout friendships and partnerships with countries that share our values and aspirations.

For example, the Philippines and New Zealand concluded negotiations for a Status of Visiting Forces Agreement (SOVFA) on Feb. 18. The SOVFA is expected to reinforce security cooperation and enable stronger military ties between the two countries. Both countries are aiming to sign the agreement by the second quarter of this year.

A Visiting Forces Agreement between the Philippines and Canada is also under way.

Working with our partners in the international community, who are committed to the values of the rule of law and the orderly conduct of global affairs, is critical in addressing the emerging security threats, especially in the maritime and aerial domain.

China may continue to provoke and taunt the Philippines, but our stance remains unwavering: we will not yield to its reckless and aggressive actions. We fully understand the rule of law and the responsibilities it demands. With steadfast resolve, we defend our rights, confident that our actions are supported by our people and the broader community of responsible nations.

 

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

Roberta Flack, American singer and Grammy winner, 88

INSTAGRAM.COM-OFFICIALROBERTAFLACK

NEW YORK — Roberta Flack, the silky-voiced Grammy-winning singer whose sultry ballads “The First Time Ever I Saw Your Face” and “Killing Me Softly With His Song” topped the charts in the 1970s, died on Monday at the age of 88, her publicist said.

“We are heartbroken that the glorious Roberta Flack passed away this morning February 24, 2025. She died peacefully surrounded by her family. Roberta broke boundaries and records. She was also a proud educator,” publicist Elaine Schock said in a statement. No cause of death was given.

The classically trained pianist defied musical genres as she blended aspects of jazz, soul, pop, and R&B to create a distinctive style and became one of America’s most influential singers.

Ms. Flack revealed in November 2022 that she had been diagnosed with ALS, also known as Lou Gehrig’s disease, and could no longer sing. Amyotrophic lateral sclerosis is a progressive illness that impacts nerve cells and causes paralysis and death.

The singer won four Grammys and was honored with a Lifetime Achievement Award in 2020. She was the first artist to win two consecutive Record of the Year trophies for 1973’s “First Time I Ever Saw Your Face” and 1974’s “Killing Me Softly with His Song.”

“In more than a half-century of making music, she’s established herself as one of the most distinctive song stylists in the pop arena,” National Public Radio said of Ms. Flack in 2020.

Ms. Flack had several No. 1 hits in the 1970s and produced 20 studio albums. Although she wrote some of her own songs and collaborated on others, she considered herself as an interpreter of the music.

“When Flack sings a song, she caresses each cadence, considering and intensifying them, the better to realize the full meaning of the lyric,” The Guardian newspaper said in 2020.

MUSICAL PRODIGY
Roberta Cleopatra Flack was born on Feb. 10, 1937, in Black Mountain, North Carolina. She was one of four children born into a musical family.

Ms. Flack started playing piano when she was nine years old, encouraged by her mother, who was a church organist. She wrote the autobiographical, illustrated children’s book The Green Piano, about her first piano, which her father rescued from a junkyard and painted.

The legendary singer finished secondary school at 15 and received a full scholarship to Howard University, where she majored in music. Initially, Ms. Flack wanted to be a concert pianist but then studied voice and aspired to be an opera singer.

She gave up her dream of attending graduate school after her father’s death and became a schoolteacher in Washington, DC.

A perfectionist, Ms. Flack taught school during the day and sang in local clubs at night. American jazz musician Les McCann heard her singing at the Mr. Henry club in Washington and helped her sign a contract with Atlantic Records.

As an African American woman growing up in the South, Ms. Flack experienced racism and segregation, as well as challenges in the 1970s music industry, which was mostly male-dominated.

Her debut album First Take (1969) included the song “The First Time Ever I Saw Your Face.” But the ballad didn’t become a No. 1 hit until actor/director Clint Eastwood heard it on the radio and asked her if he could feature it in his 1971 film Play Misty for Me.

Ms. Flack scored her second No. 1 hit in 1973 with “Killing Me Softly with His Song,” and her third the following year with “Feel Like Making Love.”

She also collaborated with other artists, including Peabo Bryson, author Maya Angelou, and Donny Hathaway. Their single “Where is the Love” was a top 10 hit and earned a Grammy for best pop performance by a duo in 1973. The pair also recorded other songs, including “The Closer I Get to You.”

“A great collaboration is one in which the combination of two talents creates something unique and meaningful that neither could have without the other,” Ms. Flack told Forbes in 2021.

The celebrated singer toured with jazz trumpeter Miles Davis in the 1980s and performed for the late South African President Nelson Mandela in 1999. The same year she received a star on the Hollywood Walk of Fame.

She worked with the Alvin Ailey Dance Company and performed with the Tokyo Symphony Orchestra.

Ms. Flack, who was an inspiration for other artists, produced and arranged her own music and worked on scores for films and television. The singer released the soundtrack album for the 1981 Richard Pryor film Bustin’ Loose.

In 2006, she established the Roberta Flack School of Music at the Hyde Leadership Charter School in New York to provide music education for children. The Roberta Flack Foundation, which she founded in 2019, also supports music and animal welfare.

Ms. Flack married jazz bassist Steve Novosel in 1966. They divorced in 1972.

After suffering from a stroke in 2016, she gave up touring two years later. A PBS documentary about her life, American Masters: Roberta Flack, was released in January 2023.

“I’ve always tried to express myself musically from a place of complete honesty in the hope that each person can find his or her own story when they listen in a way that helps them to feel their own truth,” she told Forbes. — Reuters

Duon Wayfinding targets SM and Robinsons malls

DUON.PH

By Beatriz Marie D. Cruz, Reporter

INDOOR navigation app Duon Wayfinding will start working at all SM and Robinsons malls in the Philippine capital by yearend, according to its chief executive officer (CEO).

“Throughout the course of this year, we’re looking to deploy in the major SM malls in Metro Manila, and we’re currently coordinating with them to expand the partnership,” Gabriel Anton D. Angeles, founder and CEO at Duon Technologies, Inc., said in a video interview on Feb. 13.

“We’re also right now discussing a partnership with Robinsons Malls, so throughout the year, we’ll also be deploying in Robinsons Malls,” he added.

Philippine malls have an average daily foot traffic of 200,000, with shoppers only looking for about three to five merchants out of a thousand, Mr. Angeles said.

Shopping malls have become a leisure place for Filipinos, especially on weekends. They have become a go-to location for dining, shopping, cinema, fairs and games.

But navigating malls has become a pain point for many shoppers given their size — about 20 to 60 hectares, Mr. Angeles said.

Demand for Philippine malls is expected to increase this year, with major operators redeveloping existing spaces with an emphasis on “experiential” features, according to property consultancy firm Colliers Philippines.

Another property consultant, JLL Philippines, expects 283,000 square meters of new supply in retail space through 2028.

Mr. Angeles founded Duon Wayfinding in 2018 to help Filipino shoppers navigate malls.

“We’re starting to call our malls cities and lifestyle centers, and these are huge areas that we need help navigating in,” he pointed out.

For accuracy, Duon Wayfinding features 3D maps with indoor positioning technology, and its navigation pointer follows users around. This helps provide accurate directions when looking for shops, restaurants and other key areas inside malls. It also helps users find automated teller machines, toilets and trash cans.

The app also leads people with disabilities to nearby ramps and elevators.

The app was recently updated to include emergency evacuation protocols such as fire exits, Mr. Angeles said.

Duon Wayfinding addresses the limitations of navigation apps, which are restricted to outdoor locations. It also relieves mall security guards of the additional burden of shoppers asking them for directions.

“We found out that it’s actually some sort of pain point for them,” Mr. Angeles said, noting that about six people ask guards for directions every 10 minutes.

Duon Wayfinding also allows offline and off-site navigation. To ensure that its maps are updated, the company deploys account managers once or twice a month for regular updates.

Eventually, Mr. Angeles targets having real-time updates on the app.

To stay profitable, Duon Wayfinding is looking to provide vouchers and coupons through brand partnerships. This would also keep the app free, he added.

It is also developing “gamification” features to increase user engagement and help promote local brands in a fun and engaging way.

The app is only available for SM North Edsa in Quezon City, as part of its pilot test. As it expands across the Philippine capital, Duon Wayfinding is looking to hit 500,000 users this year.

The company also plans to make the app available for SM and Robinsons Malls outside Metro Manila.

In the medium term, Duon Wayfinding is looking to extend its navigation features in casinos, hospitals, airports, theme parks, hotels and transport hubs.

It is also in talks with several local governments seeking to feature local landmarks and businesses on the app.

Duon Wayfinding can be downloaded for free on Android and iOS devices.

Lazada expands operations in Mindanao

PHILSTAR FILE PHOTO

E-COMMERCE PLATFORM Lazada announced the expansion of its operations in Mindanao, aligning with the region’s ongoing efforts to drive digitalization and economic growth.

“We are committed to delivering the best price and best experience to buyers, sellers, and brands, and we are proud of our expanding presence and ecosystem across the country,” said Carlos O. Barrera, chief executive officer of Lazada Philippines, in a statement on Tuesday.

About 84% of Filipinos in Mindanao said they feel optimistic about their improving financial situation, according to private credit reference firm TransUnion.

“Pioneering platforms like Lazada are keen to support this growth and empower the e-commerce ecosystem through strategic initiatives,” it said.

The region has been pushing for digitalization and innovation as part of the Mindanao Development Authority’s 10-point economic recovery agenda.

During its launch on Feb. 20, Mindanao-based sellers, press, and content creators were introduced to Lazada and were given best practices for maximizing the platform. This comes ahead of Lazada’s 13th Birthday Sale in March.

Lazada also introduced its “Barato sa Lazada” campaign, which offers delivery in as fast as four days and up to P120 off on shipping for a minimum spend of P199. It also includes Mindanao-exclusive deals and vouchers, as well as easy, free returns.

The platform unveiled special seller packages for local businesses, including a 0% platform commission fee for 90 days, a 0% promo pass for the first 30 days, a dedicated store consultant, 100% sponsored solutions credit, and 8,000 complimentary seller coins.

Lazada has also opened a new office on the 6th floor of the Regus-Felcris Centrale Mall in Davao City.

Local sellers can visit the office for onboarding, attend workshops and seminars, join campaigns, and enroll in seller programs and other platform-sponsored solutions.

The platform also noted improvements in its return and refund policy, offering 30-day free returns — twice the industry standard — as well as an easy refund process with expanded categories for “change of mind” returns.

The Philippine digital economy is expected to grow to as much as $150 billion in gross merchandise value by 2030, up from $31 billion in 2024, according to a report by Google, Temasek, and Bain & Co. — Beatriz Marie D. Cruz

RCBC’s 2024 net income hits P9.5 billion

PHILSTAR FILE PHOTO

RIZAL COMMERCIAL Banking Corp. (RCBC) posted a net income of P9.5 billion last year, with net interest income growth of 26% and consumer loans expanding by 40%, it said in stock exchange filing on Tuesday.

The publicly listed bank did not disclose fourth-quarter figures, income growth for the year or a financial statement.

Net income growth without the nonrecurring gains in 2023 was 13.6% year on year, “as core business maintains momentum,” it said in a disclosure to the Philippine Stock Exchange.

“We have grown our consumer loan portfolio at blistering speeds, surpassing the industry,” the listed Philippine lender said. “This complements our portfolio strategy while ensuring strong engagement with our customer base as their primary bank.”

Data analytics and digital enhancements have become key drivers for the bank’s core income growth last year and would remain to be its priorities this year, RCBC President and Chief Executive Officer Eugene S. Acevedo said in the statement.

The Yuchengco-led bank’s net interest income rose 26% to P42.5 billion for the full year, driven by a 14% increase in loan volumes and better yields.

Total loans rose 17.2% to P709.7 billion, 40% of which were consumer loans that grew 40%.

“Credit card receivables increased by 48% in 2024, as cards in force increased by 21% and billings increased by 41%,” RCBC said. “Secured consumer loans — mortgage and auto — increased by 30% in 2024.”

Meanwhile, total deposits reached P1.02 trillion, 52.6% of which were current account and savings account deposits.

RCBC’s total assets expanded by 9.8% to P1.4 trillion last year, translating to a 13.7% five-year compounded annual growth. Total capital was P158.5 billion.

The bank’s capital adequacy ratio stood at 16.08%, while common equity Tier 1 ratio was 13.53%.

As of December, the lender had a total consolidated network of 465 branches, 1,482 automated teller machines (ATM) and 8,426 ATM Go terminals nationwide, it said.

RCBC’s shares rose 0.59% or 15 centavos to closed at P25.65 each. — Aaron Michael C. Sy

Embracing the next digital revolution: Why AI, blockchain and cybersecurity are essential for Philippine organizations

FREEPIK

In today’s fast-paced digital era, the landscape of business is transforming at an unprecedented rate. Global advancements in technology are not only reshaping industries in developed economies but are also redefining how organizations operate here in the Philippines. For business leaders and executives, understanding and leveraging emerging technologies is no longer optional — it is an imperative.

Among the technologies making significant strides are Artificial Intelligence (AI), blockchain, and cybersecurity, what I call the “ABC” of the new digital age. These three pillars are rapidly becoming the foundation upon which competitive, resilient, and forward-thinking organizations are built.

AI, with its capability to analyze vast amounts of data, is transforming traditional decision-making processes. In Philippine boardrooms, leaders are increasingly turning to AI-driven tools to derive actionable insights from data, optimize operations, and enhance customer experiences. For instance, AI-powered analytics can help companies predict market trends, streamline supply chains, and even personalize marketing strategies to meet the unique needs of Filipino consumers. Small- and medium-enterprises (SMEs) that once struggled to compete with their larger counterparts are now finding that AI offers a cost-effective way to level the playing field. By automating routine tasks and providing data-driven insights, AI not only boosts efficiency but also frees up executives to focus on strategic innovation. As local businesses continue to digitize, the adoption of AI is becoming a strategic priority for those aiming to remain agile and competitive in a rapidly evolving market.

Meanwhile, blockchain technology, often associated with cryptocurrencies, has far-reaching implications beyond digital finance. In the Philippines, where trust and transparency in transactions are highly valued, blockchain presents a robust solution to age-old challenges. With its decentralized and immutable ledger, blockchain can enhance transparency across various sectors — from supply chain management to real estate transactions. Imagine a scenario where every transaction, shipment, or property deal is recorded securely and transparently on a blockchain, thereby reducing fraud and enhancing trust among stakeholders. This technology is particularly valuable in an environment where regulatory compliance and data integrity are paramount. For industries such as remittances, logistics, and even government services, blockchain can streamline operations, reduce corruption risks, and ultimately contribute to a more secure and efficient business ecosystem.

As organizations become increasingly digital, the need to protect sensitive information and critical infrastructure has never been more pronounced. Cybersecurity is at the forefront of this challenge, safeguarding both data and reputation. The Philippines, with its growing digital economy, is no stranger to cyber threats. From ransomware attacks to phishing scams, businesses are facing an array of risks that can jeopardize operations and erode consumer trust. In this context, robust cybersecurity measures are essential not only to defend against external attacks but also to secure the digital transformation journey. Companies that invest in comprehensive cybersecurity strategies are better positioned to protect customer data, maintain regulatory compliance, and ensure business continuity. For CEOs and executives, understanding the interconnected nature of technology and security is crucial; without strong cybersecurity, the benefits of AI and blockchain can be severely undermined by vulnerabilities.

What is particularly exciting is how these three technologies — AI, blockchain, and cybersecurity — can complement each other to create a resilient digital framework. AI’s capabilities in predictive analytics and automation enhance operational efficiency, but they also open new avenues for cyberattacks if not adequately protected. Blockchain can provide the tamper-proof security layer needed to protect data integrity, while cybersecurity protocols ensure that the entire digital ecosystem remains secure from evolving threats. This integration is not merely about adding layers of technology; it’s about creating a holistic, secure, and efficient environment where innovation can flourish. In the Philippines, where the pace of digital adoption is accelerating, integrating these technologies can lead to transformative changes in how businesses operate and compete on both local and international stages.

The benefits of embracing this digital trinity are manifold for Philippine organizations. For one, enhanced efficiency through AI-driven automation can lead to significant cost savings and improved productivity — a critical advantage in a competitive market. Blockchain’s role in increasing transparency can boost consumer confidence and attract investment, especially in sectors where trust is a key factor. Meanwhile, a strong cybersecurity framework not only protects assets but also helps companies avoid the substantial financial and reputational damage associated with data breaches. As businesses of all sizes — from startups to established conglomerates — navigate the complexities of the digital era, recognizing and adopting these technologies will be crucial for sustained growth and competitiveness.

However, the road to digital transformation is not without its challenges. Many Philippine organizations face hurdles such as a shortage of skilled talent, resistance to change, and infrastructural limitations. Moreover, regulatory frameworks are still evolving to keep pace with technological advancements, which can create uncertainties for businesses looking to invest heavily in digital solutions. Despite these challenges, there is a growing momentum among both the private and public sectors to foster innovation and digital literacy. Government initiatives aimed at enhancing digital infrastructure and investing in technology education are beginning to bridge the gap, paving the way for a more robust digital economy.

For business leaders in the Philippines, the message is clear: the future is digital, and the time to act is now. Investing in AI, blockchain, and cybersecurity is not just about staying ahead of the curve — it is about securing a competitive edge in an increasingly interconnected and dynamic market. By adopting these technologies, organizations can unlock new opportunities, streamline operations, and build a more resilient and trustworthy business model. As we witness a global shift towards digitalization, it is imperative that Philippine companies not only keep pace with international trends but also tailor these innovations to address local challenges and opportunities.

The future is now. The integration of AI, blockchain, and cybersecurity is set to redefine the business landscape in the Philippines. These technologies offer transformative benefits that extend far beyond operational efficiency, impacting everything from strategic decision-making to customer trust. As executives and leaders chart the course for the future, embracing this digital revolution will be key to not only surviving but thriving in a rapidly changing world. The call to action is clear: adopt, adapt, and innovate, ensuring that Philippine organizations remain at the forefront of the global digital revolution.

 

Dr. Donald Lim is the founding president of the Global AI Council Philippines and the Blockchain Council of the Philippines, and the founding chair of the Cybersecurity Council, whose mission is to advocate the right use of emerging technologies to propel business organizations forward. He is currently the president and COO of DITO CME Holdings Corp.

Three men on trial over golden toilet stolen from Churchill’s birthplace

COMMONS.WIKIMEDIA.ORG

LONDON — Three men went on trial in an English court on Monday on charges stemming from the heist of an 18-carat golden toilet that had been on display as an artwork in an exhibit at Winston Churchill’s birthplace.

The fully functioning toilet, a work titled America by Italian artist Maurizio Cattelan, was stolen from the Churchill family seat of Blenheim Palace in southern England, a major tourist attraction and UNESCO World Heritage Site.

Prosecutor Julian Christopher said a group of five men drove two stolen vehicles through locked wooden gates into the palace grounds before dawn on Sept. 14, 2019. They broke in through a window, smashed down a wooden door, ripped the toilet from the wall and left after five minutes in the building.

The toilet weighing 98 kilos was insured for $6 million. Prosecutors say it was probably divided into smaller amounts of gold to sell it off.

Michael Jones, 39, is standing trial at Oxford Crown Court charged with one count of burglary, to which he has pleaded not guilty.

Fred Doe, 36, and Bora Guccuk, 40, are charged with one count of conspiracy to convert or transfer criminal property, namely gold, which they deny.

A fourth man James Sheen, 39, has previously pleaded guilty to burglary.

The trial is due to last four weeks. — Reuters

TikTok Shop to boost MSME seller education and visibility

By Beatriz Marie D. Cruz, Reporter

TIKTOK Shop seeks to bolster seller education and visibility through government partnerships and campaigns that favor micro, small, and medium enterprises (MSMEs).

“TikTok Shop helps sellers navigate platform changes by properly leveraging the ACE Indicator System, which focuses on assortment (product selection), content (engagement strategies), and empowerment (participation in platform campaigns),” Franco Aligaen, marketing lead at TikTok Shop Philippines, told BusinessWorld.

“By aligning with these principles, sellers can improve visibility and maximize conversions,” he said in an e-mailed reply to questions.

MSMEs make up 99% of businesses in the Philippines, contributing about 40% to economic output. There are about two million Filipino users selling on TikTok Shop.

Through the platform, users can market and sell their products by posting in-feed and live videos posted on video sharing app TikTok, which has more than 50 million Filipino users.

The platform leverages shoppertaiment or content-driven e-commerce to help online businesses especially MSMEs expand their reach.

Short-form videos and live selling are two powerful drivers of sales on TikTok Shop, Mr. Aligaen said.

“We’ve seen that merchants leveraging both formats see significantly high engagement and conversion rates, as the combination of entertainment and commerce allows sellers to capture real-time consumer interest and drive purchases,” he added.

The e-commerce platform is also seeking to increase seller education and visibility through government partnerships.

“One of our priorities is enhancing seller education through initiatives like the TikTok Shop Academy and strategic partnerships with government, where entrepreneurs learn best practices in content creation, marketing and logistics,” Mr. Aligaen said.

To boost seller visibility, TikTok Shop’s Buy Local, Shop Local campaign and strategic promotions help drive buyer traffic for MSMEs. It also continuous to refine its tools for live shopping to improve customer engagement and gain consumer behavior insights.

The platform has been working with the Department of Trade and Industry to ensure it is aligned with e-commerce policies, consumer protection standards and product safety rules, Mr. Aligaen said.

TikTok sellers dealing with regulated goods must secure a Philippine standard license or import commodity clearance to ensure compliance, he added.

The platform recently worked with the Intellectual Property Office of the Philippines to conduct workshops for sellers on brand protection and trademark registration. Its #TikTokShopSmart campaign also helps shoppers identify trusted sellers and compare products.

From January to June last year, TikTok Shop rejected about 20.4 million product listing attempts that failed to meet registration and listing requirements.

It also took down 124,000 restricted or prohibited products that did not meet safety standards.

“By equipping sellers with the right tools and knowledge, we help them navigate regulations, build trust with consumers and contribute to a more transparent and sustainable e-commerce landscape,” Mr. Aligaen said. 

Office space completions in Metro Manila fell below projections in 2024, says Colliers

PHILSTAR FILE PHOTO

THE Metro Manila office market saw a shortfall in new supply in 2024, with actual office space completions falling below earlier projections due to construction delays, reduced pre-leasing, and elevated vacancies, according to property consultancy firm Colliers Philippines.

“In 2024, we recorded 182,400 square meters (sq.m.) of new supply, down 70% year on year and lower compared to our previous projection of 295,700 sq.m. due to construction delays, muted pre-leasing and elevated vacancies in selected submarkets,” Colliers said in its latest Metro Manila Office Report.

Office vacancy reached 19.8% as of end-2024, driven by the exit of Philippine offshore gaming operators and the non-renewal of leases. Colliers projects vacancy to increase in 2025 due to carryovers.

The Metro Manila office market also recorded its first negative take-up since 2021, with net absorption contracting by 45,100 sq.m. Net take-up is projected to reach 150,000 sq.m. in 2025 and 300,000 sq.m. through 2029, according to Colliers.

Office vacancy is expected to reach 22% this year due to the high level of upcoming supply, it added.

Colliers also expects the delivery of 655,800 sq.m. of new office space this year, up from its earlier forecast of 615,100 sq.m.

From 2025 through 2027, it projects an annual delivery of 380,600 sq.m. of new office space, with the Makati Fringe, Quezon City and Bay Area accounting for more than half of the new supply.

Metro Manila office transactions also declined by 9% to 751,000 sq.m. in 2024 from 827,700 sq.m. a year ago.

In the fourth quarter alone, office deals dropped by an annual 57% to 141,800 sq.m. due to the impacts of the US elections.

Traditional firms accounted for 59% of total transactions, followed by third-party outsourcing (33%) and shared service firms (8%).

Nearly two-thirds of total transactions in Metro Manila were attributed to the Bay Area, Quezon City, and the Fort Bonifacio central business district (CBD).

About 49% of transactions were expansions, Colliers said, offsetting the negative take-up recorded in 2024.

Meanwhile, the provincial office market stood resilient, signaling a shift in occupier demand outside the capital region.

Outside Metro Manila, office deals rose by 6% in 2024 to 221,600 sq.m., with Cebu emerging as the top location for expansions and relocations.

Deals are also now more dispersed, according to Colliers, citing the growing office markets in Davao, Bohol, and Batangas.

Average lease rates in Metro Manila dropped by 0.3%, it also said. Overall, Metro Manila rates will remain flat in 2025, with primary CBDs having sustained recovery.

Sustainable office spaces are likely to further take over the Metro Manila market, Colliers said. Between 2025 and 2027, it projects 59% of new supply to have green certifications.

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To spur demand, occupiers are urged to capitalize on current market conditions and secure favorable lease conditions.

“Given the wide range of office options, Colliers encourages occupiers to consider a flight-to-value exercise by relocating to higher-quality spaces at lower rental costs,” it said.

For their part, landlords with older properties must offer flexible terms, such as base rent and rent-free fit-out periods to tenants, Colliers said.

They may also consider offering tenant improvement allowances, reinstating vacated spaces, providing showrooms of reinstated spaces, and refurbishing aging properties, it added. — Beatriz Marie D. Cruz

Singaporeans lost record $822M to scams in 2024

SINGAPOREANS lost a record S$1.1 billion ($822 million) to scams last year, with cryptocurrency schemes accounting for almost a quarter of the losses, the city-state’s police force said on Tuesday.

The amount lost to scams increased by 70.6% from S$651.8 million in 2023, while the number of cases rose by about 11% to 51,501, the Singapore Police Force (SPF) said in a report.

Cryptocurrency scams accounted for 24.3% of total money lost, while e-commerce scams were the most numerous, with S$17.5 million lost in 11,665 cases.

“The majority of the cases, more than 70%, saw less than S$5,000 in losses. The increase in total amount lost was driven by a small number of cases with very high losses,” the SPF said, adding that four cases accounted for S$237.9 million of the losses.

The police noted that while people aged 65 and above only made up 8.4% of scam victims, the average amount lost per victim was the highest among the various age groups.

Of the total amount lost, Singapore’s Anti-Scam Command recovered more than S$182 million, the police said.

In January, Singapore passed a law allowing police to freeze bank accounts of potential scam victims to prevent further losses. Reuters