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Peso climbs vs dollar on weak US data

THE PESO bounced back on Tuesday after sinking to the P51-per-dollar level on Monday, with the market pricing in unexpectedly weaker US manufacturing data for November.

The local unit closed at P50.951 versus the greenback on Tuesday, strengthening by 12.90 centavos from the P51.08-per-dollar close on Monday, according to data from the Bankers Association of the Philippines.

The peso started the day at its Monday finish of P51.08 per dollar. Its weakest point was at P51.135, while its best showing versus the greenback was at its close of P50.95. Dollars traded ballooned to $1.499 billion from $1 billion logged on Monday.

According to UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion, markets ended “largely mixed” on the back of escalating trade uncertainties.

“It may be that this slight appreciation may mean that players are looking for more steady assets as the trade deal initially pumping optimism in global markets is now again treading very shaky uncertainty,” Mr. Asuncion said in a text message.

Meanwhile, a trader attributed to the local unit’s recovery to the release of US manufacturing data.

“The peso recovered today following the release of weaker-than-expected US manufacturing data yesterday which partly reduced some appeal towards the greenback,” the trader said in an e-mail.

Reuters said a US news platform Axios report cited a source close to the negotiating team of US President Donald J. Trump who said the deal between the US and China was “stalled because of Hong Kong legislation.”

Aside from this, the deal was stalled because time was needed to allow Chinese President Xi Jinping’s domestic politics to calm, the report added, citing the unnamed source.

Meanwhile, the Institute for Supply Management’s (ISM) index of national factory activity fell to 48.1 in November from 48.3 in October, down for a fourth month. The reading was below expectations of 49.2 from a Reuters poll of 57 economists.

A separate report on Monday showed US construction spending in October dropped as well, falling 0.8% as investment in private projects tumbled to the lowest level in three years.

For today, Mr. Asuncion said the peso will range from P50.80-51.10 against the dollar. Meanwhile, the trader penciled a forecast of P50.85 to P51.05.

Meanwhile, most Asian currencies were unchanged on Tuesday, as gains against a weaker dollar were offset by concerns about the United States sparking off a trade war with Brazil and Argentina, amid an ongoing dispute with China. — L.W.T. Noble with Reuters

Shares drop on uncertainties over US-China deal

THE MAIN INDEX slipped on Tuesday as the local bourse mirrored the decline in Wall Street trading on Monday, which took cues from the uncertainties over the US-China trade agreement.

The 30-member Philippine Stock Exchange index (PSEi) shed 22.01 points or 0.27% to close at 7,855.18 on Tuesday, as the broader all shares index dipped 5.48 points or 0.11% to 4,681.20.

“The index traded in the red today upon the resumption of net foreign selling and following the decline in US markets last night,” Papa Securities Corp. Sales Associate Gabriel Jose F. Perez said in an e-mail on Tuesday.

US markets kept falling on Monday as the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite indices all gave up 0.96%, 0.86% and 1.12%, respectively.

“Global equities markets stumbled today on concerns that a ‘phase one’ deal between China and the US may never come into fruition,” AAA Southeast Equities, Inc. Research Head Christopher John Mangun said in an e-mail on Tuesday.

He noted current events abroad cast a shadow of doubt on the talks between the two economic giants, specifically China’s decision to ban US military ships and aircraft from visiting Hong Kong and US’ imposition of tariffs on Brazil’s and Argentina’s metal products.

Most Asian markets landed in red territory, too: Japan’s Nikkei 225 and Topix indices lost 0.64% and 0.45%, respectively. Hong Kong’s Hang Seng index fell 0.20%, South Korea’s Kospi index dipped 0.38% and Australia’s S&P/ASX 200 index declined 2.19%.

Back home, sectoral indices were divided. Industrials lost 169.40 points or 1.72% to end at 9,675.60; holding firms gave up 31.99 points or 0.41% to 7,748.07; and mining and oil lost 16.48 points or 0.21% to 7,779.26.

Meanwhile, property gained 20.26 points or 0.49% to 4,152.64; services added 2.09 points or 0.13% to 1,544; and financials went up 2.09 points or 0.11% to 1,880.14.

Value turnover on Tuesday was at P5.06 billion with 480.81 million issues changing hands, slipping from Monday’s P5.31 billion when 1.28 billion issues changed hands.

“The PSEi ended slightly lower after its big day [on Monday] on gloomy trading as most of the country was shut down due to the super typhoon,” Mr. Mangun said about Tuesday’s market performance.

Advancers outpaced decliners, 90 against 88, while 53 names ended unchanged.

Foreign investors returned to selling their holdings, recording a net outflow worth P155.94 million, a turnaround from Monday’s net buying of P359.27 million.

“Markets should still be dictated by foreign flows and US market movement in the coming days,” Papa Securities’ Mr. Perez said.

AAA Southeast Equities’ Mr. Mangun added the PSEi may keep getting weaker “as the general sentiment abroad sours on the lack of progress on a trade deal and more tariffs on other countries.” — Denise A. Valdez

Robo-rights: Artificial intelligence machines’ right to own copyright over works

In 2010 there was a discussion on whether robots should be granted rights or what was termed as “robo-rights.” This stemmed from the consideration that robots may develop the ability to reproduce, develop artificial intelligence, and even possibly, create something independent of its inventor or developer.

FREEPIK

In an article published in fortune.com, Tesla Motors and SpaceX CEO Elon Musk stated that “[a]rtificial intelligence (AI) and machine learning will create computers so sophisticated and godlike that humans will need to implant ‘neural laces’ in their brains to keep up.” In fact, tech companies have invested heavily in AI research so much so that it is estimated that the industry will grow to $70 billion by next year.

This rapid growth was evident in 2016 when a painting entitled The Next Rembrandt was created by a computer. This computer had analyzed thousands of works by the artist Rembrandt Harmenszoon van Rijn. In an article published by the World Intellectual Property Office, it was noted that the computer learned the artist’s painting style and technique, including his usual motifs, and this produced a painting made through algorithms.

In the same year, a short novel was also written by a Japanese computer program.

It must be emphasized that both the painting and the novel are intellectual creations, and as such, are subject to copyright protection. A copyright is a form of intellectual property which gives legal protection to original works of authorship including literary, dramatic, musical, and artistic works, such as novels, songs, among others.

The question now is whether the copyright to such works belong to the entities who created the computer program, or to the computer itself which was able to create such content?

This is now a debate in different jurisdictions — whether such work created by computers, or those machines possessing artificial intelligence, may validly hold copyright.

An interesting position is one taken by the United States Copyright Office. In a proposed administrative manual to determine issues on copyright, including ownership thereof, embodied in the US Copyright Office Practices Compendium, Section 306 of the Compendium makes mention of the “Human Authorship Requirement.” The particular section states that the “US Copyright Office will register an original work of authorship, provided that the work was created by a human being.”

The rationale for such an approach is that US copyright law only protects “the fruits of intellectual labor” that “are founded in the creative powers of the mind,” and “because copyright law is limited to original intellectual conceptions of the author,” the US Copyright Office will refuse to register a claim if it determines that a human being did not create the work.

Thus, one of the relevant questions asked in the legal framework of determining whether a work is copyrightable is whether the work was created by a human author.

Moreover, Section 313.2 of the Compendium provides that “the Office will not register works produced by a machine or mere mechanical process that operates randomly or automatically without any creative input or intervention from a human author. The crucial question is ‘whether the “work” is basically one of human authorship, with the computer [or other device] merely being an assisting instrument, or whether the traditional elements of authorship in the work (literary, artistic, or musical expression or elements of selection, arrangement, etc.) were actually conceived and executed not by man but by a machine.’”

From the above excerpt, it appears that, not only does the US Copyright Office require that the author or creator be a human being, but it also does not consider a work created by a machine, functioning without any human intervention, to be subject of copyright protection. This now leads to a stalemate, as the product of such a computer remains unprotected which, in the future, could raise serious questions, considering the increasing value of intellectual property assets. This is also contrary to the position of the British legal framework of possibly granting robots or artificial intelligence rights, including property rights.

While the Philippine IP Code does not have a provision as specific as the United States which requires the author have the “human requirement,” it appears that our laws and regulations, largely derived from the copyright laws of the United States, are leaning towards ownership by the creator of the computers or machines. A computer program is proper subject of copyright protection, and under our law, such a computer program is defined as “a set of instructions expressed in words, codes, schemes or in any other form, which is capable when incorporated in a medium that the computer can read, of causing the computer to perform or achieve a particular task or result.” Thus, it appears that any resulting product of the program may be attributed to the creator of the computer program. Such a theory, however, remains to be tested under our copyright law.

The developments on the question of ownership over the copyright of such works produced by artificial intelligence machines is a continuing issue in the intellectual property world which is worth taking note of.

This article is for general informational and educational purposes only and not offered as and does not constitute legal advice or legal opinion.

 

Joan Janneth M. Estremadura is an Associate of the Intellectual Property Department of the Angara Abello Concepcion Regala & Cruz Law Offices (ACCRALAW).

830-8000

jmestremadura@accralaw.com

Innovative and collaborative action on plastic waste

We all live in a world that generally seems to be on the cusp of the next big thing. From bigger screens to smaller cameras, faster ways of transportation and communication, innovation has truly shaped our society, behavior and interactions.

On a certain level, even the environmental problems that we are facing now — animals going extinct, extreme degradation of natural resources, plastic waste pollution, and the climate crisis, among others — are externalities of these innovations or arguably, a lack thereof.

Fortunately, consumers, companies, and governments have embraced the way of sustainability not just in terms of social responsibility or a separate component of development plans, but refashioning and integrating our way of life with smarter and sustainable alternatives. International and multilevel frameworks such as the Paris Agreement and sustainable development goals bring premium to a balance of environmental, social, and economic considerations for both land and ocean ecosystems. These have guided policies and standards implemented on national and local levels.

The heightened awareness about plastic waste pollution in the Philippines, for one, tells us an important story about the importance of sustainable production, proper waste management systems and efficient recycling processes. This discussion opens doors to different points of view, policy options, and technological advancement that can offer viable solutions to reducing plastic waste and reviving our ocean economy.

One that has been gaining ground lately is the complete banning of plastics. Numerous legislation on plastic use bans and tax measures on plastic production have been filed. There are news reports that say President Rodrigo Duterte is in support of this and might certify this bill as urgent.

While I understand that the motivation is to clean up our act, quite literally, I think the discourse has been simplified to become “since plastic is so bad, we use something else.”

A 2018 report of the American Chemistry Council and accounting firm Trucost says that the shift to alternative packaging will increase environmental costs five times higher than plastic packaging. These abrupt changes may translate into increases in production costs that may be passed on to consumers. This is a significant policy question as cost impacts are more likely to burden households at lower income levels.

Don’t get me wrong. It is encouraging to see efforts to revive indigenous packaging such as banana leaves, abaca, and twigs. Though this is challenging enough to replicate, this sheds light to possibilities of innovative packaging that industries and governments can explore.

Scientists in other countries argue that instead of banning plastics altogether, it would be more sensible to make plastics better or smarter. Plastic packaging replaced paper, glass, tin, and aluminum as it was cheaper, safer, more durable, and lightweight. It was even considered better for the environment at that time since it took less energy to produce plastic and transport goods in plastic packaging. Plastic materials also enabled the increase in the shelf life of food and the decrease of food waste which is recognized as having a big carbon footprint.

Whether our policymakers have taken these into consideration is something we need to confront.

Coca-Cola has recently invested in a state-of-the-art recycling and reprocessing facility in the Philippines that will collect, sort, clean, and wash post-consumer PET plastic bottles and turn them into new bottles using advanced technology. The company also developed and has even opened up its patent rights to the so-called PlantBottle technology which produces 100% recyclable packaging — and the technology has helped reduce the company’s emissions.

Big companies, such as Unilever and Nestle, that have been widely called out for their lack of accountability for the volume of plastic waste that comes from their products, have similarly committed to adhering to a closed loop system of waste management, using recyclable, reusable, or industrially compostable packaging and less virgin plastic, and helping in environmental education.

Instead of banning plastic use, government needs to support large-scale and comprehensive solutions. Government needs to incentivize innovative solutions to curb plastic waste pollution that can be widely implemented and replicated. It needs to hold accountable households, LGUs, and companies and implement existing environmental policies. We need to strengthen current systems of waste management and recycling processes to prepare for newer technologies such as biodegradable plastics and alternative packaging.

The challenge of cleaning up and rehabilitating Manila Bay is a wake-up call, and along with the tons of plastic waste are the social, economic, and financial implications that are beginning to surface.

Without implementing and strengthening regulatory mechanisms to penalize waste mismanagement behavior among consumers, establishments and LGUs, our bodies of water will still end up being polluted and our ecosystem adversely affected whatever alternative material we use. Ultimately, it all depends on policies and actions crafted with innovation and collaboration.

The sustainability trend is unlikely to disappear soon — hopefully never. We may not be ahead of the curve, but there is still a narrow window open to adopt comprehensive, innovative, more sensible approaches to plastic waste pollution and other environmental challenges.

 

Vanessa Pepino is a Non-Resident Fellow of the Stratbase ADR Institute.

Spitting in the wind

The 2019 Southeast Asian Games being hosted by the Philippines have been a showcase of Pinoy sports achievements, showbusiness production excellence, and organizational incompetence all rolled into one portrait of a people who do not seem to know whether to feel proud or embarrassed about ourselves.

Before the regional sports competition had officially begun, kibitzers in social and mainstream media had joined the chorus of political naysayers and overseas critics pointing out everything wrong with the event, from twin toilets without dividers, to competition venues still being rushed in time for the starting guns.

Overall games organizing committee chairman, House Speaker Alan Peter Cayetano, found himself apologizing for logistical problems cropping up, while rationalizing the expenditures for the event.

Cayetano was mercilessly twitted for living up to his name, Peter (as in Peter Principle), for taken on a function beyond his level of competence. It was bad enough that news reporters around the Southeast Asian region had begun piling on bad commentaries on the event, but what made it worse was the way the proverbial Monday night quarterbacks, characterized by Senator Franklin Drilon, so hypocritically displayed their populist concerns by suggesting that the money spent on the event could have been more properly used for schoolhouses and other facilities for the hapless Philippine citizenry.

Was Drilon trying to rack up “pogi points” or merit badges for a run as Senator of Southeast Asia? Otherwise, why dig up the issue when it was too late to do anything about it? And, of all times, just when foreign guests are around.

But then, the opening ceremonies reeled off in spectacular fashion and suddenly folks were saying they were “Proud to be Pinoy.”

Indeed, the opening ceremonies — a mandatory showcase of the Olympics and other international competitions — were a class act. And people who were ashamed about twin toilets, junk food, poor lodging, and inadequate transportation facilities were beating their breasts with pride over the lavish entertainment that the opening music, dances, and marches provided.

And then the Games began — and Filipino athletes began harvesting gold medals faster than any other country. The headlines took on a positive turn in Philippine media. But the pre-game negative reports of international media had already etched themselves in the minds of people in the Asian region.

This begs the questions. How is an overseas Filipino supposed to think about his native land? With pride or with embarrassment?

As a Pinoy residing overseas, my suggestion is to take the advice of a German friend of mine who recounted how his people took criticism and praise.

“When you do something bad, slap yourself on the face,” came the advice. “But when you do something good, pat yourself on the back.”

Indeed, the 2019 SEA Games provide a lot of reasons for back-patting and for self-slapping. But as a Proud Pinoy, I don’t mind saying that a sports competition is about sports, most of all, and if you were to host the best organized international competition of all time but fail to win a solitary medal, you have every reason to jump into the toilet and flush yourself right in.

In other words, even if the organizers have been no better than the Keystone Kops, there is reason to feel good about hosting an international sports competition where the Philippines leads in the medal harvest.

Pat the athletes and coaches on the back.

On the other hand, anyone who has the gall to offer to host and organize an international event — whether of the sporting or the political or the economic kind — had better be prepared to admit faults, flaws, and missteps, the better for the disasters never to happen again.

Slap yourselves on the face. And learn a lesson from it. Such as assigning the job to organizational experts.

There’s nothing you can do about the brickbats from the foreign media. If they’re telling the truth, let the country and Cayetano take their lumps.

About the kibitzers — like the presidential daughter who thinks that Dennis and Rene Garcia’s song “Manila” should not have been used as the theme for the entrance of the Philippine team, my suggestion is for her to offer to host an international event in Davao and then commission a theme song for the occasion. Otherwise, leave the choice of music to the entertainment committee.

And my suggestion to Senator Drilon is for him to hold his high-falutin’ noble populist ideas about using funds for school rooms instead of a SEA Games cauldron for when the event is over and all the foreign guests have gone home.

There is a time and place for spitting in the wind. Otherwise, you’ll end up showering in your own saliva.

 

Greg B. Macabenta is an advertising and communications man shuttling between San Francisco and Manila and providing unique insights on issues from both perspectives.

gregmacabenta@hotmail.com

UNESCO Creative Cities Baguio and Cebu: Evolving governance

By Dr. May Zuleika Salao

ON OCT. 31, Cebu City secured the title of being the country’s first UNESCO Creative City of Design, and the second UNESCO Creative City title went to Baguio City, a UNESCO Creative City of Crafts and Folk Art since 2017. With this recognition, Cebu joins Baguio in the UNESCO Creative Cities Network (UCCN), now numbering 246 cities around the world. These Creative Cities comprising the UCCN are differentiated into seven creative fields, namely: crafts and folk art, literature, film, music, gastronomy, media arts, and design. Together, they commit to placing creativity at the core of their sustainable urban development plans. Creativity as a strategic development pillar emerges from the city’s unique culture, as represented by its outstanding creative field. This creative field, foreseen to encourage viable cultural and creative industries, is to serve as a catalyst for the city’s creative economy, embedded in a more or less cohesive social environment as indicated by cooperation among civil society associations and groups with their citizen-members as cultural purveyors wherever they are in the public and private sectors.

If consensus on an ideal Creative City is reached, the next step is planning to realize it. Gleaning from events happening in Cebu and Baguio now, there are at least two considerations. First, these two cities’ respective plans will ultimately be original, yet share some things in common with their global co-members in the UCCN, especially with those grouped in their same creative fields and particularly, with those in the Asian region. And second, there will be similarities and differences in Cebu and Baguio’s plans with their historical trajectories as cities in the Philippines, but in their varying relational or cultural interdependence with their provinces (Cebu and Benguet), their regions (Central Visayas and Cordillera), and with national government.

These two considerations involve navigating the global and national that are further subdivided into political and economic spheres, sub-global and sub-national. A necessary interplay among these levels, spaces or scales where our Creative Cities are embedded is, therefore, presented.

Understandably, local policymakers are beginning policy work on their Creative City as a UNESCO Creative City network hub. Nevertheless, the hub always requires its spokes projecting in and out of it, and thus ultimately, what may also be required is a governance-approach that, aside from being place-based or anchored firmly on local urban communities, is at the same time shaping a city-province/region dynamic supported by higher geographic scales national, sub-global or regional, and global.

DEVELOPING GEOGRAPHIC SCALES
I trace the term geographic scale from the social science discipline of political and economic geography. Political scale, or the idea that scale is socially constructed through politics, was strongly advanced from the latter-1980s and 1990s. Political geographers called attention to how dominant research on globalization was rendering geographic scales as apparently secure, established categories, and as pre-givens merely useful for explaining levels of analysis such as local, national, and global, as if these were an unproblematic, unchanging hierarchy.

Political geographers challenged this perspective by underscoring that geographic scales are not fixed or stationary since they are spaces for economic activities as well as political authority. In a particular social structure, explaining how stakeholders delve into these processes of social construction adds to understanding social change. These theorists in the 1980s and 1990s introduced a constructionist perspective of geographic scale. For example, Delaney and Leitner in their 1997 article, “Political Geography of Scale,” put emphasis on the political and defined geographic scale as a “nested hierarchy of bounded spaces of differing size, such as the local, regional, national and global.” Could there likewise be overlapping hierarchies or otherwise, and of not-so-bounded spaces? Empirical research continues on various societies’ construction of scale.

Here in the Philippines, we have had considerable experience drawing and re-drawing our local political boundaries, including asserting our rights on our nation-state boundaries. As the local or sub-national from Luzon to Mindanao has become generally peaceful, with its territorial subdivisions conflict-free thanks to the work of decades if not centuries, various local development paths are being pursued. The UNESCO Creative City is the latest among such development paths, and this one is based on recognition and respect of local communities’ social, cultural, and economic life. That a local urban community, that is, a city’s culture and creativity, which lends its society and economy its uniqueness may be shared with the world, and there exist mechanisms on how to do this.

Going back to the period 1980s and 1990s, there were scholars from the dominant globalization research who concurred with the work of political geographers. This strand of globalizers acknowledged the importance of space or place and geographic scales utilizing the image of a global network with nodes of place-based, capital-attractive spaces but smaller-space territories below the state in scale, that is, sub-state.

For us Filipinos, familiar examples of these sub-state spaces and scales are economic or export processing zones and call center districts. But there are others that, surely, we can partake — industrial districts, growth triangles, city-regions and growth corridors, among other conceptions of a territorially global economy. They involve “spatialities of globalization,” a concept from British Academy’s Professor Ash Amin, referring to social relations and institutions formed by events in another part of the globe. Yet, daily practices and decisions of local groups enacting these social relations and institutions can have significant global effects, too. We understand this as the global and local shaping and influencing each other but as to what extent is a political question.

With the concept of a global network with nodes and links, economic geographers joined the bandwagon of globalization research when they examined territorial agglomeration of industries, including what were eventually called as “creative industries” that they observed as post-Fordist and thus, a new “creative economy” seeming to be a-forming and tending to cluster in cities — as “creative cities” in the advanced capitalist societies or, the West.

And then, it did not take long for these western concepts to reach our own societies, that is, for these “creative cities,” “creative industries,” and “creative economy” to be introduced to the developing world — our emerging economies with totally different historical trajectories. In our part of the world, we may recognize what they mean yet like a chameleon, they assume other colors. In Indonesia, for example, a sizable number of “creative industries” are actually “traditional cultural industries” and for this, development planning is greatly linked with the region.

Take one 2016 publication in Cities by Elsevier titled, “The location of creative industries in a developing country: The case of Indonesia” by Fahmi et al. This research finds significantly that a distinction has to be made between “creative industries” that are innovative industries utilizing new knowledge and intellectual property, and “traditional cultural industries” that aims for the preservation of heritage values. In terms of spatial patterns, these two also tend to differ. The former is more dependent on urbanization economies than the latter, which are found in regions more rural.

All these doubly underscore the crucial role of geographic scales. Development focus on local city communities as they are formed to become global Creative City hubs, exact on local policymakers the need to discern the specific character of their creative/cultural industries. This includes its spatial scale needs, that is, on whether the industry may be grown well in a city, or more closely with a region or some other dynamic scale combinations. It is governance of scale — how to scale-up, sideways and down — that is, “scalability,” for strengthening the sub-national so it may prosper in a spatial, place-based global economy.

 

Dr. May Zuleika Salao is Director of the Program in Political Economy at the School of Law and Governance, University of Asia and the Pacific, Pasig City. She is presently in Germany as a Visiting Researcher at the Max Planck Institute for the Study of Societies in Cologne and Scholar of the Hanns Seidel Foundation in Munich, studying city-regions in creative industries.

CTDI holds one-day tax seminar on CITIRA, Transfer Pricing & Regulatory Updates

Center for Training and Development, Inc. (CTDI), in cooperation with Bernaldo Directo & Po Law Offices and R.S. Bernaldo & Associates, will hold a one-day public seminar entitled “Seminar on Corporate Income Tax and Incentive Rationalization Act (CITIRA), Transfer Pricing and Regulatory Updates” on Dec. 6, 8 a.m. to 5 p.m., at Case Room 5th Floor, Tower II, RCBC Plaza, 6819 Ayala Avenue, Makati City. Get hold of the salient features of CITIRA and their possible effects on the way we do our business. This seminar also features the topics on transfer pricing and other regulatory updates that will enhance our compliance commitments. For details and reservations, call Evangeline E. Idusora at +632 8840-0535 to 38 local 105 or e-mail to: evangeline.idusora@bdplaw.com.ph.

Vivo NEX 3: A masterpiece of premium technology

Vivo has been known globally for its above-par efforts in bringing technological innovations— from the drawing board to industry-anticipated experimental smartphones—into commercially-available and successful flagship models.

Today, the brand continues to explore and push the envelope of creativity—both in hardware and software technology—to come up with the most aesthetic-looking yet highly-functional smartphones.

And among its current array of trendsetting flagship handsets that cater to different markets, the Vivo NEX 3 is perhaps the most remarkable, owing to a unique set of impressive features that rival other brand’s high-end smartphones.

Reputed to be the “device of the future” with its next-generation innovations and trendsetting design, the latest flagship model in Vivo’s high-end NEX series is built for young, aspiring entrepreneurs and success-driven individuals.

The NEX 3 is equipped with a powerful Qualcomm® Snapdragon™ 855+ octa-core processor, 8GB RAM and 128GB ROM of storage to deliver faster cutting-edge performance and smoother multitasking capabilities.

But what really sets the NEX 3 apart and elevates it further as Vivo’s technological masterpiece is a world’s first AMOLED Waterfall FullView™ Display. The smartphone’s pièce de résistance, the display stretches and curves the screen around the edges, hugging the smartphone along its sides, to enable broader, borderless views.

And with no bezels on both sides, the smartphone is also without any physical buttons. To achieve this, NEX 3 introduces virtual buttons using an X-axis Haptic Vibration motor and Touch Sense technology. One can easily use the sleep-wake and volume buttons by touching pressure-sensitive and ribbed strips along the phone’s edges.

For top-notch optics that produces “super HD clarity” images, the NEX 3 sports a 64-megapixel main camera, 13MP wide-angle camera and a 13MP telescopic camera at the rear, while a 16MP Elevating Front Camera makes for perfect selfies.

The NEX 3 has a fast in-display fingerprint sensor embedded in its 6.89-inch display that boasts of an incredible 99.6% screen-to-body ratio. A Glowing Night-colored aluminum alloy unibody design and a Corning® Gorilla® Glass 6 protects the NEX 3 and its 4500mAh battery from accidental drops.

Developed around groundbreaking innovations and trendsetting minimalist design, the NEX 3 is truly a masterpiece that reflects Vivo’s passion for creating premium technology.

The NEX 3 smartphone is available at all authorized Vivo outlets nationwide.

For more details, visit https://www.vivoglobal.ph/product/Nex3

Sharp better solutions for a better life

With the continuous evolution of technology and the significant role it plays in the everyday lives of people, Sharp Philippines Corporation (SPC) continues to introduce products that aim to incorporate ease and convenience into the Filipino household.

SPC’s products are categorized into four sections, or what they refer to as Solutions – that seek to address the needs of consumers. These are: Entertainment Solution, Clean & Comfort Solution, Health & Beauty Solution and Business Solution.

Products highlighted last November 28, 2019 at The Madison Events Place complement those that were launched earlier in July. Though SHARP’s global direction is to bring in the latest products with 8K and AIoT technology, the company also devotes its resources in coming up with items packed with technologies that enables efficiency, provides comfort and promotes good health.

The audience was treated to a visual display as well as live demonstrations conducted by their corresponding Product Specialists, showcasing the features and capability of the items.

Entertainment Solution

Having introduced the AQUOS 8K LED TV for the Filipino market last July, SHARP now presents its Artificial Intelligence of Things (AIoT) series of Full HD and 4K HDR Android Televisions. Eligible Android TVs are Google Assistant ready, enabling users to interact with their devices and perform tasks such as playing music/videos, searching for the latest news among others, all hands-free. The new line of Android TVs comes with features such as Comfort Mode, a special AV Mode that reduces 50% of blue light. It also has an Advanced Bluetooth version, which allows users to connect the television to their external Bluetooth speakers.

Have your own personal cinematic sound system with the AQUOS Sound Partner AN-SX7A. It is compatible with a wide variety of devices and is extremely portable; resting comfortably on ones shoulders. The Acoustic Vibration System provides powerful sound and heavy bass, ensuring an immersive audio-visual experience that is perfect for when you are playing video games or enjoying the latest shows on Netflix.

Clean & Comfort Solution

Personal hygiene is an important aspect in a Filipino’s life. Apart from ensuring the cleanliness of our own being, we want this to be reflected in our homes as well; a place considered as a sanctuary for individuals and families alike.

 

SPC has your well-being in mind; that is why they develop products that help achieve and maintain a fresh, comfortable environment. These are: Washing Machines, Ractive Air Vacuum Cleaner, Mite Catcher, Air-conditioner with AIoT J-Tech Inverter Technology and Air Purifier/Cleaner equipped with SHARP’s original Plasmacluster Ion Technology.

The application or use of these products are not only limited to homes, as they can also be utilized in venues such as offices, schools, hospitals and other establishments with high population densities; sure to benefit its occupants.

Health & Beauty Solution

We try to keep ourselves healthy through proper exercise and appropriate diet. This also reflects on the food that we consume and how it is cooked. With SHARP’s Healsio Hot Cook, healthy cooking is made possible as the natural moisture and original flavor from ingredients together with its nutritional values are retained, compared to conventional cooking. Dishes are hassle-free; with automatic control and various cooking programs depending on your menu, just place all the necessary ingredients and wait until it is finished. Voila! Your meal is now ready to be served.

Looking good is also tantamount to feeling good. When we exert even the littlest effort in fixing ourselves up, be it reporting to work every day or attending an event, we feel much more confident in facing the world. Beauty appliances for women, such as the Hair Dryer, Hair Iron and Curling Ion with Plasmacluster feature lessens dirt and prevents hair damage. The Scalp Massager on the other hand, reduces dry scalp and keeps our hair healthy.

Business Solution

Understanding the needs of businesses, SHARP also has dedicated products that cater to the corporate sector through their dynamic displays that project clear and beautiful images for application as digital signages or for business meetings via the internet.
SHARP has also acquired and further developed the Dynabook Laptop, designed for business professionals and workplace environments. Combining their technologies (displays, sensors etc.) with that of Toshiba, they seek to produce market-leading computers and other devices. The Dynabook features a thin design with a long-lasting battery and is rated with MIL-STD-810G for utmost durability.

Committed to quality and innovation, SHARP will continue to develop products that will bring Better Solutions for a Better Life to consumers.

Nov. factory growth slowest in 5 months

FACTORY ACTIVITY continued to improve in November, though by the smallest increment in five months as output and new orders bared weaker increases and employment “failed to improve,” IHS Markit reported on Monday.

A news release said the IHS Markit Philippines Manufacturing PMI (Purchasing Managers’ Index) eased to 51.4 in November from 52.1 in the preceding month, indicating “moderate improvement in operating conditions in the goods-producing sector.”

The latest reading was the lowest since June’s 51.3.

The headline PMI measures manufacturing conditions through the weighted average of five indices: new orders (30%), output (25%), employment (20%), suppliers’ delivery times (15%) and stocks of purchases (10%). The 50 mark separates readings above that denote improvement in operating conditions from the preceding month, while lower readings point to deterioration.

IHS Markit said “all five components… placed downward pressure” on the Philippines headline PMI.

The Philippines remained second among six Association of Southeast Asian Nations (ASEAN) members tracked for the fourth month in a row, after Myanmar (52.7), which dislodged the Philippines from the helm in February and which has topped the region since then. Vietnam, which has been the Philippines closest contender in this regard, posted a 51.0 reading.

The Philippine reading continued to outdo ASEAN’s PMI, which improved to 49.2 in November from 48.5 in October but still marked the sixth straight month of contraction on “further declines in output, new business and employment.”

“Growth softened to a modest pace in the Philippines manufacturing sector in November, as firms noted the weakest rise in factory orders since August,” IHS Markit economist David Owen said in the news release.

This, in turn, “led companies to hold back on hiring plans, signaling reduced pressure on capacity as output growth slowed.

The output index was at its weakest since April, indicating “a loss of growth momentum.”

Sales continued to rise, at a solid pace, the statement read, even as the rate of expansion “was the weakest since August.”

While domestic demand was strong, new foreign orders fell “for the fifth time in six months”.

Survey respondents said they held off hiring in the face of weaker sales growth, “with the latest data signaling unchanged payroll numbers from October” after “four successive months of job creation.”

“While some companies hired new workers due to greater output requirements, others reduced labor or chose not to replace voluntary leavers.”

Moreover, production input costs “rose solidly” by the quickest pace since February, “in part resulting from higher demand for inputs.”

Companies affected by higher input costs “often passed” the burden on to customers through higher selling prices, although “the overall mark-up was modest and only slightly faster than October’s 45-month low.”

Manufacturers also continued to complain of traffic that caused continued “deterioration in vendor performance in as many months.”

At the same time, the outlook for manufacturing output improved by “a notable extent” in November, marking the highest level in nine months as respondents looked to new products and opening of new factories next year.

The Philippine results were based on survey responses to monthly questionnaires by purchasing managers of about 400 manufacturers, collected on Nov. 12-24. — Beatrice M. Laforga

Manufacturing purchasing managers’ index of select ASEAN economies, November (2019)

Manufacturing purchasing managers’ index of select ASEAN economies, November (2019)

FACTORY ACTIVITY continued to improve in November, though by the smallest increment in five months as output and new orders bared weaker increases and employment “failed to improve,” IHS Markit reported on Monday. Read the full story.

Manufacturing purchasing managers’ index of select ASEAN economies, November (2019)

Bulacan airport project groundbreaking being delayed — proponent

THE GROUNDBREAKING for the planned Bulacan airport that was planned for this month is being delayed after the government raised concerns about the contract, the project proponent told reporters on Sunday.

At the same time, the Department of Transportation (DoTr) said the Ninoy Aquino International Airport (NAIA) rehabilitation project, which the National Economic and Development Authority (NEDA) Board approved on Friday last week, is expected to be implemented starting 2021 even as the project has yet to undergo Swiss challenge whereby the original proposal will be matched by competing offers of other parties.

Delayed na ’yung groundbreaking dahil on hold eh,” San Miguel Corp. President and Chief Operating Officer Ramon S. Ang told reporters last Sunday in Alabang when asked for updates on the planned groundbreaking for the Bulacan airport.

Asked when San Miguel was supposed to break ground for the project, Mr. Ang replied: “This December, kaya lang meron na naman silang (but the government again raised) issue.”

Tanungin n’yo kay (DoTr Secretary Arthur P.) Tugade. Meron na naman bagong (There is a new) issue daw eh. Meron na namang nagtatanoong ng kung ano-ano (Someone is again raising various issues)… Nagpadala na naman daw ng mga sulat, ng kung ano-ano na naman. Dini-delay nila (Someone again sent a letter raising various issues. The project is being delayed),” he added.

Transportation Secretary Arthur P. Tugade told reporters separately that it was the Department of Finance (DoF) that raised concerns about the project contract.

“Its not even a major concern.Si (Finance) Sec(retary Carlos G.) Dominguez (III) mahal niya ang bayan. Makikita niyo ’yung mga contract na dinaan sa Finance it will benefit the country (he loves the country. You will see that contracts reviewed by DoF benefit the country),” Mr. Tugade said.

Gusto niya lang makita na talagang ‘yung sinasabi namin na (Mr. Dominguez just wants to make sure that contracts are) in favor of government, ma-klaro. He is not making objections. In other words it’s an issue of wordings and interpretations kaya sinama sa DoJ (Department of Justice) review… ’yung cap sa (concerning the cap on government) liabilty,” he added.

Noting that the contract for upgrading as well as operation and maintenance of Clark International Airport caps the government’s liability in the project, Mr. Tugade said there should also be such a cap in the Bulacan airport project.

The P734-billion Bulacan airport project, which will be officially called the New Manila International Airport, involves construction of a 2,400-hectare airport with four parallel runways (expandable to six runways), eight taxiways and three passenger terminal buildings. It will have an annual capacity of 100 million travelers, which the government hopes will help decongest Ninoy Aquino International Airport in Pasay City.

As for NAIA rehabilitation, the DoTr said in a news release on Monday that the project with have three phases running from 2021 to 2024.

The consortium undertaking the project consists of Aboitiz InfraCapital, Inc; AC Infrastructure Holdings Corp.; Alliance Global Group, Inc.; Asia’s Emerging Dragon Corp.; Filinvest Development Corp.; JG Summit Holdings, Inc.; and Metro Pacific Investments Corp.

Phase 1, which will be implemented from 2021 to 2022, “involves the immediate improvements and reconfiguration of the existing airport terminals” that will increase NAIA’s capacity to 47 million passengers per annum (MPPA) from 31 MPPA currently.

Phase 2, from 2022 to 2023, will cover development of a new passenger building (Terminal 2 Annex) and improvement of the corresponding apron to increase the capacity to 21 MPPA from 11 MPPA. This phase also involves reconfiguration and expansion of the Terminal 3 building and apron to increase terminal capacity to 24 MMPA from 23 MPPA, as well as construction of a new taxiway and installation and upgrading of Communications, Navigation, Surveillance/Air Traffic Management equipment.

Phase 3, to be implemented from 2023 to 2024, will cover, among others, construction of new terminals (a new terminal annex building will add 5 MPPA) and expansion of existing terminals to increase capacity to 65 MPPA from 58 MPPA.

The NEDA Board approved approved last Friday the unsolicited P102-billion proposal from the country’s top tycoons to rehabilitate NAIA. The project will be subjected to a Swiss challenge after the Manila International Airport Authority and the NAIA Consortium agree on terms and condition of the concession agreement. MIAA will submit the draft agreement to the Office of the Solicitor General and the DoF for comment. — Arjay L. Balinbin