Home Blog Page 8307

Jay Leno apologizes to Asian Americans for decade of ‘wrong’ jokes

By
CEDTyClea
-
0

LOS ANGELES — Television host Jay Leno has apologized for more than a decade of jokes about Asian Americans, saying he had committed a “legitimate wrong.”

The apology by Mr. Leno, the former host of US TV’s popular Tonight Show, follows a long campaign by the Media Action Network for Asian Americans (MANAA) and a spike in hate crimes against the community that has received renewed attention since a shooting in Atlanta last week that left eight people dead, six of them Asian-American women.

MANAA said that between 2002 and 2012 Mr. Leno made at least nine documented jokes about Koreans or Chinese people eating dogs or cats. The group has been seeking an apology ever since 2002 and said on Wednesday that it received one in a February call with Mr. Leno.

“At the time I did those jokes, I genuinely thought them to be harmless,” Mr. Leno said in the call, according to a statement issued by MANAA that it said had been agreed with Mr. Leno. “I was making fun of our enemy North Korea, and like most jokes, there was a ring of truth to them.

“At the time, there was a prevailing attitude that some group is always complaining about something, so don’t worry about it. Whenever we received a complaint, there would be two sides to the discussion: either ‘We need to deal with this’ or ‘Screw ‘em if they can’t take a joke.

“Too many times I sided with the latter even when in my heart I knew it was wrong. That is why I am issuing this apology. I do not consider this particular case to be another example of cancel culture but a legitimate wrong that was done on my part,” Mr. Leno added.

Mr. Leno, now 70, hosted The Tonight Show for more than 20 years until he bowed out in 2014.

He is due to host a revival later this year of the 1950s radio and TV quiz show You Bet Your Life.

MANAA said Mr. Leno’s apology had resolved the group’s grievances with the comedian. Representatives for Mr. Leno did not return requests on Wednesday for further comment. — Reuters

US firm to restore geothermal well in EDC’s 180-MW Leyte plant

By
CEDTyClea
-
0

US-BASED GreenFire Energy, Inc. said on Thursday that it entered into an agreement with Lopez-led Energy Development Corp. (EDC) to restore an idle geothermal well within the local firm’s 180-megawatt (MW) project in Leyte.

In a press release, GreenFire said it would install and commission a heat mining system in EDC’s Mahanagdong geothermal facility by the fourth quarter. The system is said to help correct the “high level of non-condensable gases produced from the geothermal well when flowing.”

EDC’s public relations department confirmed the development.

GreenFire, which is headquartered in California, uses GreenLoop technology — a patented, closed-loop energy system — which generates power from geothermal sources where conventional geothermal systems cannot effectively operate.

“We have been looking at GreenFire Energy’s closed-loop approach to geothermal for some time and are happy to see the progress. While we see potential for the technology in large greenfield projects too, we see the fast payback on well retrofits as the easiest way to start,” EDC Senior Vice-President and Head of Facilities Operations and Maintenance Group Liberato S. Virata said in a statement.

Mr. Virata added that being able to generate steam from EDC’s idle geothermal wells will allow the firm to supply clean, reliable and stable power.

Joseph Scherer, GreenFire Energy’s chief executive officer said, “We really appreciate EDC’s willingness to consider and implement new solutions to geothermal wells and resources that have excellent potential but with production issues that can’t be addressed by conventional technology. Many geothermal operators around the world have similar needs, but EDC is one of the most innovative so we’re pleased to have the opportunity to work with them.”

In its media release, GreenFire said that it is also working with EDC to analyze unproductive geothermal wells and less productive geothermal fields “where the potential for using the technology will be of the greatest technical and economic benefit.”

EDC has a total installed capacity of over 1,400 MW, which account for 20% of the country’s installed renewable energy capacity. The firm also has an installed geothermal portfolio of over 1,200 MW, which make up 62% of the country’s total installed geothermal capacity.

Shares of EDC’s parent firm First Gen Corp. in the local bourse improved 1.69% or 50 centavos to finish at P30 each on Thursday. — Angelica Y. Yang

Fraud risks rise as pandemic stretches on

By
CEDTyClea
-
0

POLICY MAKERS, private stakeholders and financial consumers need to take extra steps to manage fraud risks amid the surge in digital transactions due to the pandemic, experts said.

In a BusinessWorld Insights session on Thursday, Anti-Money Laundering Council (AMLC) Executive Director Mel Georgie B. Racela and Kaspersky General Manager for Southeast Asia Yeo Siang Tiong discussed how to address fraud during this time.

“Legislators as well as policy makers need to continue educating ourselves. We need to learn how frauds are being undertaken nowadays,” Mr. Racela said, noting money launderers have taken advantage of the pandemic.

The AMLC chief said boosting partnerships with foreign regulatory counterparts is also instrumental in fraud management.

“They may already have the solutions to the problems that we are encountering. Our foreign partners, they are able to share their experience, so it is also beneficial to us,” he said.

Mr. Racela presented the results of AMLC’s COVID-19 Financial Crime Trend Analysis and Typology Brief during the session, which showed nearly half (49%) of suspicious transaction reports from March 16 to Aug. 31 last year were related to skimming, phishing, and unauthorized transactions.

These transactions had an estimated value of P2.7 billion, but Mr. Racela said unreported cases mean these may have been higher in value.

Last year, the central bank received about 20,000 complaints from financial consumers, of which the bulk were about fraud and unauthorized transactions.

As criminals equip themselves with digital tools, regulators also need to invest in technology to protect financial consumers and institutions against fraud, Mr. Racela said.

For his part, Kaspersky’s Mr. Yeo noted that cybercriminals found more avenues to attack due to the work-from-home situation as people use various websites, social media platforms, and streaming devices. He echoed Mr. Racela’s call for international cooperation, saying cybercrime knows no borders.

“What this means is that the attack surface for the cybercriminal has increased a lot. What is important is that we know how to keep safe, for ourselves, for the company that we work with, and also the community,” he said.

Mr. Yeo also urged Filipinos to be careful about their transactions, especially as Holy Week draws near, as trends show cybercriminals plot attacks over holidays.

“This may be Holy Week for the Philippines but it’s not a holiday for other countries. What that means is they will work because it is a good time to strike,” he said.

Both speakers also emphasized the need for continuous education and awareness as fraudsters step up their game in a fast-changing, technology-driven world that is still in crisis. — Luz Wendy T. Noble

NFT artwork by humanoid robot sells at auction for nearly $700,000

By
CEDTyClea
-
0
FACEBOOK.COM/REALSOPHIAROBOT

HONG KONG —  A digital artwork by humanoid robot Sophia was sold at auction on Thursday for $688,888 in the form of a Non-Fungible Token (NFT).

NFTs, a digital signature saved on blockchain ledgers that allows anyone to verify the ownership and authenticity of items, have become the latest investment craze, with one artwork selling this month for nearly $70 million.

Sophia, who was unveiled in 2016, produced her art in collaboration with 31-year-old Italian digital artist Andrea Bonaceto, known for colorful portraits, some of which depict famous people, such as Tesla’s chief executive, Elon Musk.

The robot has combined elements from Mr. Bonaceto’s works, art history, and her own physical drawings or paintings on various surfaces multiple times in a process her creator David Hanson describes as “iterative loops of evolution.”

Titled Sophia Instantiation, the digital work is a 12-second MP4 file showing the evolution of Mr. Bonaceto’s portrait into Sophia’s digital painting, and is accompanied by a physical artwork, painted by Sophia on a printout of her self-portrait.  — Reuters

Basic Energy secures contract for 50-MW wind project in Mabini

By
CEDTyClea
-
0

LISTED firm Basic Energy Corp. said that it had received from the Energy department a service contract for its planned 50-megawatt (MW) wind project in Mabini, Batangas.

In a disclosure to the local bourse on Thursday, Basic Energy said that the wind energy service contract (WESC) provides for a non-extendible, five-year, pre-development stage and a 25-year development stage, counted from contract signing.

The development stage may be extended for another 25 years, subject to the approval of the Department of Energy (DoE).

The wind project will be undertaken by Mabini Energy Corp., a wholly owned unit of Basic Energy. The parent firm said that the planned project, which will cover over 4.860 square meters of land in the Mabini Peninsula, is targeted to begin its commercial run by 2027 or five years from the date of the WESC awarding.

A WESC is awarded to eligible applicants that pass the legal, technical and financial evaluations on proposed wind power projects, which are meant for commercial use, the DoE said in its work program on on-shore wind projects.

In a separate disclosure on Thursday, Basic Energy said that it had amended its articles of incorporation to double its authorized capital stock to P5 billion from the P2.5 billion.

The firm said that it added two more provisions in its amended by-laws, including conferring the honorary title of chairman emeritus to a former chairman, and the deletion of the profit-sharing provisions for directors and officers.

Last month, Basic Energy said that the board of directors of the Mabini Energy Corp. gave the go signal for Oscar L. de Venecia, Jr., the parent firm’s president, to sign the service contract.

Shares of Basic Energy in the local bourse improved 24.66% or 18 centavos to finish at P0.91 apiece on Thursday. — Angelica Y. Yang

DBP net profit down by 30.4%

By
CEDTyClea
-
0

THE Development Bank of the Philippines (DBP) posted a lower net profit of P3.9 billion in 2020 on higher credit loss provisions and operating expenses.

The state lender’s net income decreased by 30.4% last year from P5.6 billion recorded in 2019, DBP Executive Vice-President for Corporate Services and Concurrent Head of Operations Marietta M. Fondevilla said in a statement on Thursday.

“DBP’s financial standing mirrors the general trend in the industry as the majority of the banks amplified actions in ensuring ample reserves to cover probable losses as a result of dwindling economic activity,” Ms. Fondevilla said.

The bank’s loan portfolio rose 19% to P423.32 billion as of December from P356.75 billion a year earlier.

More than half (53.4%) of the loans or P225.9 billion were disbursed for infrastructure and logistic projects. Meanwhile, the bank also facilitated loans meant for social services and community development (P78.9 billion); environmental projects (P44.8 billion); and micro, small and medium enterprises (P32.8 billion).

“We remain committed to the collective and purposive efforts of the National Government to bolster resiliency and carve a steady path to recovery and growth especially of our traditional customer segments,” DBP President and Chief Executive Officer Emmanuel G. Herbosa was quoted as saying.

DBP’s deposits also jumped 47.6% to P817.9 billion last year from P554.18 billion in 2019, while investments increased 26% to P260.1 billion from P206.57 billion.

These brought the bank’s total assets to P1.04 trillion at end-2020, rising by 37% from P761.24 billion in the prior year.

Meanwhile, the bank’s gross margin increased 5% to P20.91 billion from P19.9 billion in 2019.

In December, DBP listed P21 billion in two-year peso-denominated bonds with a coupon rate of 2.5%. Proceeds from the fundraising exercise will be used to support its lending activities.

DBP is the sixth-largest bank in the country in terms of assets and has been designated as the country’s infrastructure bank by the National Government. — L.W.T. Noble

‘No Zoom’ Oscars causes backlash, Hollywood media reports

By
CEDTyClea
-
0

LOS ANGELES —  The “No Zoom” policy for this year’s Oscars ceremony is proving a headache for multiple nominees who live outside the United States and who are still under pandemic restrictions, according to Hollywood publications.

Variety and Deadline Hollywood reported on Wednesday that publicists and some studio executives have complained to the film academy about logistics, costs, and quarantine issues raised by the decision to bar nominees from taking part in the ceremony remotely.

The Academy of Motion Picture Arts and Sciences, which organizes the ceremony, did not return a request for comment on the reports.

Due to the coronavirus pandemic, the Apr. 25 show to hand out the highest honors in the movie industry will be held both at Union Station in Downtown Los Angeles and the traditional home of the Academy Awards at the Dolby Theater in Hollywood.

Producers said last week that there will “not be an option to Zoom in for the show” and encouraged nominees to attend in person.

At least nine nominees, including Promising Young Woman director Emerald Fennell and star Carey Mulligan, live in Britain. England next week is expected to ban nonessential international travel until mid-May.

Representatives of the five international feature films — submitted by Denmark, Hong Kong, Romania, Tunisia, and Bosnia — could also face hurdles getting to Los Angeles, Variety and Deadline noted.

Some of the other 200 or so nominees will be working on productions that require quarantine or living in restricted “bubbles” with cast and crew, the publications said.

Visitors to California are currently expected to quarantine for 10 days. Travelers to nations outside the United States are also subject to varying quarantine requirements.

Variety said a meeting this week to discuss the issues between the Academy, movie studio executives and publicists had been canceled.

Other awards shows in recent months have replaced the usual in-person gatherings at gala dinners and on stage with pre-recorded appearances or virtual events, or a combination of those with small in-person gatherings.

But television audiences have slumped, with the Golden Globes and the Grammys attracting the smallest numbers in decades. — Reuters

Globe to also launch 5G in North America, Europe

By
CEDTyClea
-
0

GLOBE TELECOM, Inc. said on Thursday it would also be launching fifth-generation (5G) roaming services in North America and Europe.

To recall, the Ayala-led telco announced on March 10 that it would be launching 5G in more parts of Asia and the Middle East for its customers traveling abroad, especially overseas Filipino workers.

On Thursday, Globe said in an e-mailed statement: “The recent launch of Globe’s 5G roaming services in the United Arab Emirates and Thailand are set to continue with upcoming launches across Asia, Middle East, North America, and several countries in Europe.”

Globe, the first telco to offer the latest generation of wireless technology in the Philippines, said its 5G is currently available in 1,200 areas in the country.

Globe previously reported a 13.04% decline in its core net income for 2020, mainly because of the impact of the coronavirus pandemic on its businesses except for the home broadband segment.

The company’s EBITDA (earnings before interest, taxes, depreciation and amortization) for 2020 totaled P73.51 billion, down 3.31% from P76.03 billion in the previous year.

The company set a capital expenditure (capex) budget of about P70 billion for 2021, higher than the previous year’s revised capex guidance of P50 billion.

Globe Telecom shares closed 0.52% lower at P1,900 apiece on Thursday. — Arjay L. Balinbin

House OK’s PDIC charter amendments

By
CEDTyClea
-
0

THE HOUSE of Representatives has approved a bill on the revised charter of the Philippine Deposit Insurance Corp. (PDIC), which will include allowing the agency to adjust its insurance limit per depositor.

Lawmakers on Thursday voted 185 affirmative to six negative and one abstention for the approval of House Bill 8818 or the proposed law that aims to strengthen the powers of the PDIC and expand the maximum deposit insurance coverage in the country.

If enacted, the revised charter will make the PDIC an attached agency of the Bangko Sentral ng Pilipinas (BSP) to streamline overlapping functions of both entities. The PDIC is currently under the Department of Finance.

The bill will also give the PDIC the authority to increase the maximum deposit insurance coverage subject to review every three years, with the amount determined by the PDIC indexed to inflation and other economic factors. The current maximum deposit insurance amount is P500,000 per depositor per bank.

The revised charter will also allow the PDIC to have access to records, books of accounts and depository reports if there are issues of fraud or unsafe banking activities related to deposits. The BSP shall have access to the examination reports of the PDIC.

Both the PDIC and the BSP may look into deposit records of a bank, with bank officials and employees required to disclose the information.

Bayan Muna Rep. Carlos Isagani T. Zarate, who voted against the bill’s approval, said the new charter of the PDIC expands the BSP’s powers to examine deposit accounts and “indirectly amends the Bank Deposit Secrecy Law.”

“If the bill passes, the confidential nature of bank deposits are no longer effectual. This practically opens the floodgates to the examination or investigation of bank records by any person the BSP would authorize. The confidentiality of bank deposits is no longer essentially true,” he said during the plenary on Thursday. — G.M. Cortez

House OK’s bill setting freelance payment deadlines

By
CEDTyClea
-
0

A PROPOSED LAW that will require freelance workers in the gig economy to work under contract with specific payment deadlines was unanimously approved by the House of Representatives, sitting as a plenary body.

House Bill 8817 or the proposed Freelance Workers Protection Act was designed to increase the legal protections available to freelancers, and will require employers to pay freelancers their fee no later than 15 days after the payment date set out in the contract.

If enacted, the bill will require a written contract between the freelance workers and the hiring party before any services will be given by the freelancer. In the absence of a written contract, the fee is due immediately after the agreed services were rendered.

Freelancers will be eligible for night shift differential pay if physically present in the workplace or are on field assignment. They will be entitled to hazard pay if warranted.

The proposed law also grants a tax amnesty to freelance workers earning less than P1 million annually. A rate of 2% of gross receipts above the first P250,000 will apply.

Representative Jose Ma. Clemente S. Salceda said in a statement Thursday that the measure will benefit over two million freelance workers, which he said will have grown due to the pandemic.

“Freelancing has become the lifeline for millions of Filipinos, especially those who lost their regular jobs during the pandemic. As the economy becomes more digital, there will be more freelancing. Without legal protections, we will also see more labor exploitation,” he said.

He added that the tax amnesty will allow freelance workers “steer clear of any pending tax liabilities that could prevent them from having better contracts.” — Gillian M. Cortez

Stuff to do (03/26/21)

By
CEDTyClea
-
0

Muni-Muni Stories recaps season

FILIPINAS Heritage Library and the OPM Archive present the 12th episode of Muni-Muni Stories: A Podcast on Filipino Music on Mar. 26, 6 p.m. The episode is a Recap Finale with Moy Ortiz and Krina Cayabyab. This recap episode of Muni-Muni Stories contemplates the nature of the OPM (Original Pilipino Music) Archive: a living, advocacy-driven, and crowd-sourced repository that links creators and lovers of Philippine music. By recording and analyzing the songs and their stories, this living archive studies the aural evolution of Filipino culture. Moy Ortiz and Krina Cayabyab track that evolution as they recall the past episodes’ highlights. On the way, they discover new directions in the making and reception of music, reaching past the times of crisis. The podcasts are available on Spotify and Apple Podcasts.

PPO Chamber Music concert focuses on strings

THE PHILIPPINE Philharmonic Orchestra (PPO) streams its fourth Chamber Music Concert on Mar. 26, 8 p.m., via the Cultural Center of the Philippines (CCP) and PPO Facebook pages and the CCP YouTube Channel. The focus of this concert is string instruments. Cello player Giuseppe Andre Diestro and double bassist Ariston Payte III will play Sonata for Cello and Double Bass in B-flat Major K.292 by Wolfgang Amadeus Mozart. It will be followed by Quartet for Four Violins Op.107 by Ignaz Lachner, to be performed by violinists Berny Dulce Payte, Ma. Angelica Uson, Ayesa Cruz, and Gemma Bicaldo. For more information, visit the CCP website (www.culturalcenter.gov.ph) or follow the official CCP and PPO Facebook pages.

Araneta City celebrates Earth Hour

ARANETA City is taking part in this year’s celebration of Earth Hour, holding several activities promoting sustainability and environmental welfare. The Trash to Cashback program is being held at Araneta City until Mar. 27. This is being done in partnership with Basic Environmental System and Technologies, Inc. and the Environmental Protection and Waste Management Department of Quezon City. Araneta City is also accepting recyclable waste materials like PET bottles and old newspapers at the kiosk located at the Araneta City Bus Station in exchange for bXTRA environmental points that can be used in select establishments. Araneta City will be marking Earth Hour on Mar. 27, 8:30 p.m., by turning off the lights. It will also present the Earth Hour Virtual Spotlight which will feature a special video produced by the World Wildlife Foundation on all social media channels. For more information on the activities, visit https://aranetacity.com/.

KCON:TACT 3 virtual festival runs until Sunday

SMART Communications, Inc.’s KCON:TACT 3 virtual festival is ongoing until Mar. 28, via GigaFest.Smart. KCON:TACT 3 is a K-Culture and pop music celebration featuring nine days of Korean content, with live concerts and meet and greets with dozens of K-Pop artists. Catch the performances and meet and greet sessions by visiting MegaFest.Smartone (http://gigafest.smart/) your mobile browser. The featured K-pop acts include AB6IX, A.C.E, Dreamcatcher, Loona, SF9, Stray Kids, Too, and Woodz (Cho Seung Youn).

Jack Nicklaus apparel available at Lazada’s Birthday Sale

CELEBRATE Lazada’s Birthday Sale — which runs until Mar. 27 — and visit Jack Nicklaus’ Flagship Store to enjoy up to 50% off on select styles. Jack Nicklaus Apparel, named after the golf legend Jack Nicklaus, is now available at LazMall. Jack Nicklaus offers men’s knits in an assortment of colors which are made from either mercerized cotton or polyester and Spandex. Men’s woven shirts come in multi-colored mini plaid that are made from cotton, nylon and spandex with classic colors to choose from. The brand also offers water-resistant full-zip jackets and vests that are both lightweight and breathable. Each piece is crafted with the CoolPlus Moisture-Wicking feature. There are also stylish and comfortable bottoms with striking colors like Paradise Pink and Brilliant Blue. Complete the look with accessories like belts and caps that will match any outfit.

House approves FICTAP franchise

By
CEDTyClea
-
0
PHILIPPINE STAR/MICHAEL VARCAS

LAWMAKERS on Thursday approved the proposed congressional franchise of newly organized corporation FICTAP Telecommunications, Inc.

In a plenary session, the House of Representatives approved House Bill 8972 or an act that will grant new player FICTAP a telecommunication franchise valid for 25 years.

If signed into law, FICTAP will be granted the authority to “construct, establish, install, operate, and maintain for commercial purposes and in the public interest, within the Philippines and between the Philippines and other countries and territories, wired and wireless telecommunications systems.”

FICTAP must obtain a Certificate of Public Convenience and Necessity and other required permits and licenses from the National Telecommunications Commission (NTC) in relation to the company’s construction and operation of its telecommunication systems and facilities.

The NTC will also review the proposed rates for FICTAP’s telecommunications services that will be offered to the public.

As an obligation to the public, FICTAP must maintain its services in a satisfactory way at all times and improve its systems to keep up with the advances in science and technology.

FICTAP should also improve and extend its services in areas that are yet to be served and in disaster-prone areas as determined by the NTC.

FICTAP President Estrellita Juliano-Tamano told BusinessWorld in a phone interview on Thursday that the corporation is “very happy” that the franchise application is seeing progress before the House of Representatives.

“We are different from other telecommunication companies applying for a franchise… we are seeking a congressional franchise to compete with the big telco players,” said Ms. Juliano-Tamano. — Gillian M. Cortez

1...8,3068,3078,308...14,238Page 8,307 of 14,238
© Newsmag WordPress Theme by TagDiv