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Robot built for Japan’s aging workforce finds coronavirus role

TOKYO — Mira Robotics developed its “ugo” robot to reinforce greying Japan’s shrinking workforce, but as the coronavirus threat persists, the Japanese start-up is offering its machine as a tool in the fight against the outbreak, the company’s CEO said.

“The coronavirus has created a need for robots because they can reduce direct contact between people,” Ken Matsui told Reuters at his company’s workshop in Kawasaki, near Tokyo. “We’ve had inquiries from overseas, including from Singapore and France.”

The latest feature of the remote-controlled or so-called avatar robot is a hand attachment that uses ultraviolet light to kill viruses on door handles.

An unprecedented population decline that is shrinking Japan’s workforce by more than half a million people a year as well as a reluctance to bring in foreign labor to fill vacant positions has spurred robot development in Japan.

The emergence of coronavirus-related demand could further that work.

Mira Robotics’ Ugo is a pair of height-adjustable robotic arms mounted on wheels, operated remotely through a wireless connection with a laptop and game controller. A range-measuring laser mounted on the base helps it navigate, while a panel at the top displays eyes to give it a friendlier appearance.

It takes around 30 minutes to learn how to use the robot, with each operator able to control as many as four machines, said Mr. Matsui. Ugo which costs around $1,000 a month to rent, can be deployed as a security guard, carry out equipment inspections and clean toilets and other areas in office buildings, he added.

Mr. Matsui’s two-year-old start-up so far has only one ugo operating at an office building in Tokyo. — Reuters

Phoenix goes contactless

PHOENIX Petroleum Philippines, Inc. launched a contactless mode of payment in its fuel stations in Luzon for safe transactions amid the ongoing pandemic.

The listed independent fuel retailer on Wednesday said it is now allowing electronic payment in some 100 stations via QR code scanning.

“This time, we want to ensure the safety of our customers by offering contactless transactions that could help flatten the curve [of cases of coronavirus disease 2019],” Phoenix President and Chief Operating Officer Henry Albert R. Fadullon was quoted as saying.

Phoenix has partnered with e-payments platforms Alipay, GCash, WeChat Pay, and GrabPay to introduce such a scheme.

The same payment mode will be implemented in the rest of its fuel stations in Visayas and Mindanao within the month.

Last week, the company launched its latest range of exclusive products for public utility vehicle drivers via the Bangon Tsuper program in aid of their return to mass transport operations.

PayMaya offers cashless payment for BIR, SSS dues

FILIPINOS can now easily pay for their tax and social security dues using their PayMaya accounts from the safety and comfort of their homes, the digital financial services company said.

“We at PayMaya are excited to work with more national government agencies and local government units towards those same goals” said Orlando B. Vea, founder and chief executive of PayMaya.

For payment of dues to the Bureau of Internal Revenue (BIR), convenience fees are waived when taxpayers use the Pay Bills section of the app. They also get a chance to earn up to 100% cashback when they pay their fees using their PayMaya accounts via the Social Security System (SSS) mobile app.

PayMaya has also enabled more government agencies and units with the ability to accept card and e-wallet payments as the country accelerates digital efforts because of the coronavirus disease 2019 (COVID-19) pandemic.

These agencies and units include the Pag-IBIG Fund, Department of Trade and Industry, the Professional Regulation Commission, the Department of Science and Technology, the Department of Foreign Affairs, the National Home Mortgage Finance Corp., and the City of Valenzuela.

PayMaya has also partnered with the Department of Transportation and the Land Transport Regulatory and Franchising Board to equip public utility vehicles such as taxis, buses, and ride-hailing service providers with cashless payments acceptance for commuters.

BSP’s rediscount facility left untapped in May

THE CENTRAL BANK’S term deposit facility was untapped in May. — BW FILE PHOTO

LENDERS LEFT the central bank’s rediscount facility untouched in May, signaling liquidity levels have increased after the implementation of measures meant to funnel more funds into the financial system.

“There was no availment under the BSP (Bangko Sentral ng Pilipinas) Rediscount Facilities for the month ending May 31,” the central bank said in a statement on Wednesday.

The rediscount facility of the BSP lets banks get hold of additional money supply by posting their collectibles from clients as collateral.

In turn, the banks may use the cash — in peso, dollar or yen — to disburse more credit for corporate or retail clients and service unexpected withdrawals.

From March to April, peso rediscount borrowings totaled P20.7 billion. This compares to the P85.799 billion loan availments from January to May 2019.

Lenders also left the rediscount facility untapped from November 2019 to February 2020.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said banks’ decision not to tap the rediscount facility in May reflects “increased peso liquidity” after the reduction in reserve requirement ratio for banks as well as other regulatory relief measures that encourage lenders to disburse more credit.

“This sends a positive signal to the markets, as banks need not rediscount their loans with the BSP and indicate they have more than enough funding to service the requirements of their depositing and borrowing clients,” he said in an e-mail.

Mr. Ricafort said the continued increase in liquidity due to easing measures from the central bank will reduce banks’ need to tap the rediscounting facility for extra funding.

The reserve requirement of universal and commercial banks was reduced by 200 basis points to 12% effective in April in a move to boost liquidity during the Luzon lockdown. This move infused some P200 billion into the banking system, Mr. Ricafort said.

Aside from this, the BSP has also allowed banks’ lending to micro-, small-, and medium-sized enterprises and to large enterprises hit by the pandemic to count as alternative reserve compliance.

JUNE RATES
Meanwhile, applicable rates for peso loans regardless of maturity is at 3.25% this month, which is the current lending rate of the central bank. The rate was approved by the Monetary Board in May and is effective until July 17.

Meanwhile, dollar-denominated loans are priced at 2.776% for those maturing in three months or less; 3.208% for those maturing in 91 days to 180 days; and 4.072% for those with a term of 181.36%.

For yen-denominated loans, rates are at 2.39117% for those with terms of three months or less; 2.82317% for those maturing within a 91-180 day time frame; and 3.68717% for loans maturing from 181 to 360 days.

The Exporters’ Dollar and Yen Rediscount Facility rates are based on the 90-day London Inter-Bank Offered Rate plus a spread depending on the term of the loan. — Luz Wendy T. Noble

Thailand OKs bill seeking to tax foreign internet companies

BANGKOK — Thailand on Tuesday approved a draft bill requiring foreign digital service providers to pay a value-added tax (VAT), becoming the latest country in Southeast Asia to seek to boost tax revenues from international tech companies.

Last month, Indonesia passed a law requiring big internet companies to pay VAT on sales of digital products and services from July, and in the Philippines a lawmaker introduced a similar bill in parliament to tax digital services.

The Thai bill, which still has to be voted on by Thailand’s parliament, requires non-resident companies or platforms that earn more than 1.8 million baht ($57,434.59) per year from providing digital services in the country to pay a 7% VAT on sales, deputy government spokeswoman Ratchada Thanadirek told reporters.

Thailand is expected to add about 3 billion baht ($95.72 million) to its coffers annually from the move, which will affect services such as music and video streaming, gaming, and hotel booking, she added, without naming any companies.

“These businesses would’ve had to pay VAT if they had been Thai, which is unfair,” Ms. Ratchada said.

Thailand, Southeast Asia’s second-largest economy, has mulled taxing digital businesses for years, hoping to tap the country’s internet economy, one of the fastest growing in the region.

Thanawat Malabuppha, president of the Thai e-Commerce Association, told Reuters he welcomed the move, as it will help level the playing field for rival Thai businesses.

“Anyone who makes money from Thai people should pay taxes to the country,” he said.

Analysts say the COVID-19 (coronavirus disease 2019) pandemic has accentuated a push by governments around the world to tax internet companies, who could see a boost in revenues as people stay at home during global lockdowns.

Nearly 140 countries from the Organisation for Economic Cooperation and Development are negotiating the first major rewriting of tax rules to take better account of the rise of big tech companies such as Amazon, Facebook, Apple and Google.

Southeast Asian regulators held talks last year on a region-wide effort to tax tech giants more, while industry groups have warned that over-regulation could blunt the region’s booming digital economy. — Reuters

PLDT sets 5G rollout in fourth quarter

PLDT Inc. will roll out its fifth generation (5G) network by the end of this year, the listed telecommunications company said, citing the current virus outbreak as the reason for the delay.

In a Laging Handa briefing on Wednesday, PLDT Spokesperson Ramon R. Isberto said the 5G services under mobile subsidiary Smart Communications, Inc. will be launched by the fourth quarter of 2020.

“Tuloy pa rin ho iyong 5G project ng Smart. Dahil nga doon sa COVID (The 5G project of Smart will still push through. Because of COVID), we have not been able to move as fast as we want to, so we’re looking at possibly launching the 5G service by the later part of this year, possibly the fourth quarter of 2020,” he said.

PLDT is now looking at the consumer, commercial, and industrial applications of the 5G network.

Mr. Isberto said preparations for the 5G program include improving the fiber networks for PLDT and Smart. Intelligent Fiber Network will be used for the 5G services instead of E-Long Fiber Network.

“We have to overhaul our fiber network of PLDT and Smart. Iyon po ang ginagawa namin together(That’s what we are doing together) with the US company called Cisco. We are transforming our fixed fiber network,” Mr. Isberto said.

Meanwhile, Mr. Isberto said PLDT welcomes the release of guidelines on the Department of Information and Communications Technology’s policy on shared telecommunications towers.

“Our legal team is now in the process of going through the new guidelines, to the new policy. We are preparing a more comprehensive response. But initially I can say that we welcome that provision that allows the telecom operators to set up their own towers if their network roll out requirements demand it,” he said.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Gillian M. Cortez

Dining In (06/11/12)

Swagat Indian Cuisine offers take-out

Swagat Indian Cuisine, now on its 17th year of offering authentic Indian dishes, has, like all restaurants, been unable to welcome customers to its premises because of the lockdown. But it has continued to make its food available to its patrons via Grab Food, Honest Bee, Food Panda, and Lala Food delivery service. The unassuming restaurant was opened by Indian migrant Komal Khanchandani in 2003 in Rada St., Legazpi Village in Makati, and helped make Indian food a staple in the country’s financial district. Now at its new home at The Columns at Amorsolo St. cor. Arnaiz Ave., it continues to offer healthy, homestyle dishes like palak pakora, deep fried spinach and spices rolled in chickpea flour; chicken tikka, tender, skinless and boneless chicken marinated in ginger and garlic; sangam biryani or flavored spicy Indian rice with lean, tender pieces of chicken, lamb, cooked in herbs and spices. For customer’s satisfaction, food is prepared based on their preference of mild, medium, hot or extra hot. It is a halal restaurant ideal for Muslim diners, and has a wide array of vegetable dishes for vegetarians. And with the gradual opening up of restaurants for dine in customers, guests can experience dining under quarantine health protocols. Seventeen years and one pandemic later, Khanchandani still exudes with confidence and poses the same challenge to diners since day one: “Don’t pay if you are not satisfied with the food.”

Father’s Day with Cardinal Cakes

Cardinal Cakes has created the new Sugar-free Mocha Cream Pie specially for Father’s Day. Or choose from Cardinal Cakes’ four regular offerings: Dark Chocolate Cake, Naked Red Velvet Cake, Carrot Walnut Cake; and Caramel Cake. Cardinal Cakes delivers via Grab or Lalamove. To order, call 0905-420-4030 or 8821-0057, or via Facebook Messenger at m.me/CardinalCuisine. For more updates, follow them on Facebook and Instagram: @CardinalCuisine.

Trolls World Tour toys, Happy Meal Readers books

McDonald’s is now offering all-new Trolls World Tour toys and Happy Meal Readers books as Happy Meal or McShare Box add-ons for as low as P35 each. Kids can choose from over 10 trolls including Poppy, Biggie, Mr. Dinkles. Meanwhile, The TreeTop Twins return with new adventures. Launched in February, the Happy Meal Readers program offers a book or toy option for every Happy Meal purchase. The books, written by author Cressida Cowell, encourage family bonding through storytelling. The books tell the story of the Treetop Twins and their parents as they go through adventures by traveling in their time machine. Through the Happy Meal Add-On Promo, an extra book or toy of choice can be added to the purchase for P35. The promo allows kids to include as many add-ons as they like, so they can build their collection sooner. Customers can avail of this promo until July 30. McDonald’s is also offering the Happy Meal Complete Set Add-On Promo. With every purchase of a McShare Box, adding P330 will include the complete set of 10 Trolls World Tour toys. The limited time offer is available until June 11 only. Purchase these in the safety of home through the McDelivery Website or App, or the hotline 8888-6236. Starting June 13, customers can also enjoy the P35 Happy Meal Add-On Promo via McDo Messenger, GrabFood, and FoodPanda.

Indulge in Century Park Hotel’s Deli Snack is back

Century Park Hotel Manila has reopened Deli Snack, the hotel’s pastry and deli shop. Open daily for takeout or pick-up from 8 a.m. to 6 p.m., a wide selection of breads, pastries and cookies are available for breakfast or afternoon tea at home. The assortment includes French bread, raisin bread, cinnamon rolls, Danish pastries, and empanadas among others. Cold cuts such as ham, pork loin, liver paté and sausages are also being offered. Decadent cakes are among the best buys from Deli Snack. Choose from a wide variety of black forest, blueberry cheese, super moist, choco cheese and apple tart among others. A 50% discount is given on selected items from 5 to 6 p.m. For more information, call 8528-5855, or contact 0917-633-2497 either via SMS or Viber. Century Park Hotel enforces the new normal and standard protocols such as wearing of masks and social distancing on the outlet premises. Furthermore, all Deli Snack products are prepared and handled well to ensure the safety of its customers.

Father’s Day gifts at Healthy Options

Healthy Options is offering free shipping for Father’s Day gifts ordered by June 13. Each gift set also comes with a personalized note customers can write for their father. The Supercharged Dad gift set includes honey oat granola, vitamins, cookies, chips, protein energy meal packet, shaving cream, sunscreen, and protein bars. The Time Out With Dad gift set includes apple chips, chips, cheese snacks, rootbeer, butterscotch beer, multivitamins, chocolate candy, body wash, and roll-on aromatherapy. For deliveries outside Metro Manila, Cainta and Antipolo, shipping time may vary depending on address and may arrive after June 21.

How PSEi member stocks performed — June 10, 2020

Here’s a quick glance at how PSEi stocks fared on Wednesday, June 10, 2020.

PSEi declines anew on profit taking, lack of leads

LOCAL SHARES failed to keep their momentum on Wednesday as profit takers swarmed the market due to the lack of a strong catalyst.

The 30-member Philippine Stock Exchange index (PSEi) lost 144.47 points or 2.19% to close at 6,439.37, while the broader all shares index gave up 75.99 points or 1.96% to end at 3,786.10.

“The Philippine market took a breather amid concerns regarding the speed and size of the recent rally,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a mobile message.

After trading within the 5,000 level since late March until the end of May, the PSEi made a strong rebound beginning on June 2 and jumped from 5,930.17 on June 1 to 6,517.49 as early as June 4.

Brokers said the primary driver of investor optimism was the easing of lockdowns in the Philippines and across the world and news of a potential coronavirus disease 2019 (COVID-19) vaccine.

But Philstocks Financial, Inc. Research Associate Claire T. Alviar said these factors were not enough to sustain the rally on Wednesday.

“The recent rally was supported only by investors participation… There was no strong catalyst aside from the hopes of economic recovery after lockdown measures eased,” she said in a text message.

Mr. Limlingan said investors also opted to stay on the sidelines in anticipation of the Federal Open Market Committee meeting. The US Federal Reserve is set to convene for its monetary policy decision on Wednesday night, Philippine time, amid the ongoing pandemic.

The S&P 500 and Dow fell on Tuesday, pausing after recent strong gains as focus shifted to the Federal Reserve, while the Nasdaq ended at an all-time high for a second straight day after briefly rising above the 10,000 mark for the first time.

US markets closed mixed on Tuesday. The Dow Jones Industrial Average and S&P 500 indices shed 1.09% and 0.78%, respectively, while the Nasdaq Composite index increased 0.29%.

Ms. Alviar said investor sentiment was also dampened by the World Bank’s projection that Philippine gross domestic product may shrink by 1.9% this year and 1.2 million Filipinos may fall into poverty.

All sectoral indices at the PSE closed in red territory. Mining and oil dropped 209.65 points or 3.83% to 5,260.90; financials erased 43.55 points or 3.22% to 1,309.13; property shaved off 85.33 points or 2.57% to 3,229.28; holding firms lost 165.15 points or 2.45% to 6,551.17; industrials fell 93.02 points or 1.13% to 8,127.94; and services trimmed 4.97 points or 0.34% to 1,437.55.

Value turnover stood at P8.96 billion with 825.25 million issues switching hands, slightly higher than the previous day’s turnover of P8.54 billion with 980.80 million issues. Decliners outpaced advancers, 147 against 55, while 41 names ended unchanged.

Foreign investors remained net buyers with net inflows of P318.79 million on Wednesday from P62.32 million the previous day. — Denise A. Valdez with Reuters

Peso rebounds vs dollar on narrower trade deficit

THE PESO rebounded against the greenback on Wednesday on news of a narrower April trade deficit and the unsustained rally of US stocks.

The local unit finished trading at P49.85 per dollar on Wednesday, appreciating by 10 centavos from its Tuesday close of P49.95, according to data from the Bankers Association of the Philippines.

The peso opened at P50.05 versus the dollar. Its weakest showing for the day was at P50.07 while its strongest was at P49.83 against the greenback.

Dollars traded climbed to $1.12 billion on Wednesday from the $793.71 million seen on Tuesday.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort attributed the local unit’s gains to trade data released yesterday.

“The peso closed stronger after the [release of data showing the] narrowest trade deficit in nearly five years,” Mr. Ricafort said in a text message.

Data from the Philippine Statistics Authority showed the country’s trade deficit was at $499.21 million in April, slimmer than the $3.8-billion gap in the same month in 2019. This, as exports dropped 50.8% to $2.78 billion while imports plunged 65.3% to $3.28 billion.

Year to date, the trade balance was at a deficit of $8.03 billion from January to April, smaller than the $14.14-billion shortfall in the comparable 2019 period.

Meanwhile, a trader said the peso’s rebound came due to weaker dollar sentiment after the US stock market failed to sustain its rally.

“The peso was stronger as investors took in the news that Wall Street gains did not push through on Tuesday,” the trader said in a phone call.

The S&P 500 and Dow fell on Tuesday, pausing after recent strong gains as focus shifted to the Federal Reserve, while the Nasdaq ended at an all-time high for a second straight day after briefly rising above the 10,000 mark for the first time, Reuters reported.

The Fed began a two-day meeting. While no major policy announcements are expected when the US central bank wraps up on Wednesday, investors will scrutinize its remarks on the health of the economy, which has been reopening after coronavirus-related closures.

The Nasdaq’s gains came on the back of strong gains in tech-related shares, a day after the index became the first of Wall Street’s major indexes to confirm a new bull market. Apple, up 3.2%, gave the Nasdaq its biggest boost on Tuesday.

The benchmark S&P 500 fell back into negative territory for the year after temporarily erasing those losses on Monday.

The Dow Jones Industrial Average fell 300.14 points or 1.09% to 27,272.3; the S&P 500 lost 25.21 points or 0.78% to 3,207.18 and the Nasdaq Composite added 29.01 points or 0.29% to 9,953.75.

For today, Mr. Ricafort gave a forecast range of P49.75 to P50 versus the dollar while the trader expects the peso to move around the P49.70 to P50.05 band. — L.W.T. Noble with Reuters

COVID-19 spending reckoned at P355 billion

GOVERNMENT spending on its coronavirus disease 2019 (COVID-19) containment effort totaled P355.084 billion as of Tuesday, June 9, according to the Department of Budget and Management (DBM).

The June 9 total compares with the P352 billion reported in the period ending May 27, after more funds were disbursed to relief programs, including the Social Amelioration Program (SAP).

The funds were released through Special Allotment Release Orders, which are a DBM authorization to line agencies allowing them to incur obligations in that specific period and for a defined purpose.

The increased spending was largely due to the P500 million in new allotment releases issued to Small Business Corp. for its Pondo sa Pagbabago at Pag-asenso program on May 29 and the P2.02 billion released to cover the remaining funding needs for SAP on June 3.

Earlier allotment releases for the P205-billion SAP were the P100 billion released on April 2 and P96.044 billion on April 16.

The DBM estimates that 70% or P246.622 billion of the funds were sourced from discontinued programs, activities and projects, while 27% or P98.217 billion came from special purpose funds. The remaining 3% or P10.245 billion was from current budgets of implementing agencies.

At the level of notices of cash allocation (NCA) issued by the DBM, which are an authorization for government offices to disburse funds allocated to them, a total of P354.455 billion was released so far.

There were no NCA releases for the latest SAP allocations for as of Tuesday.

The documents are posted on DBM’s website and are being updated regularly. — Beatrice M. Laforga

DoT clearance required for hotels to reopen

THE Interagency Task Force for the Management of Emerging Infectious Disease (IATF-EID) on Wednesday ordered hotels and other accommodation establishments (AEs) to obtain an authorization from the tourism department before resuming operations.

IATF-EID Resolution No. 43, Series of 2020, provides that AEs may operate only upon the issuance of a Certificate of Authority.

Tourism Secretary Bernadette Romulo-Puyat said this is intended to ensure the “safety and health” of guests.

“With this ‘No DoT Certification, No Operation policy,’ we shall further implement the DoT Health and Safety Guidelines for Accommodation Establishments Under the New Normal,” she said in a statement Wednesday.

Its guidelines follow protocols issued by the World Health Organization and the Department of Health.

This applies to establishments such as hotels, resorts, and tourist inns restarting their business as the government eases lockdown restrictions.

Luzon was locked down to contain the pandemic starting mid-March, suspending work, classes and public transportation.

The government started lifting restrictions in areas deemed lower-risk starting May 15 and later in Metro Manila and Cebu on June 1.

To obtain the certificate, AEs accredited by the Department need to submit a Letter of Intent to Operate to their respective DoT (Department of Tourism) regional offices. Meanwhile non-accredited establishments need to apply for accreditation.

Ms. Puyat said the application will be free of charge, and warned businesses that failure to comply will be subject to penalties. — Charmaine A. Tadalan

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