Huawei Partners with Local Institutions for Inclusive Growth in the Digital Economy

Huawei just concluded their Intelligent Finance Summit 2021 last November 18 with thier theme "Digital Infrastructures for Inclusive Digital Economies". Industry leaders from different agencies and fintech companies shared their thoughts on best practices on how they could promote inclusive growth in the next few years.

Huawei Enterprise Business Group's Jason Cao says "Huawei has been in this industry for a little over a decade and has served over 2000 institutions which includes the top banks. Our company has been a significant partner in digital transformation and we're not stopping there."

During the talk, they concentrated on what the effects of digital transformation is and how to make it inclusive in the Philippines. The industry is still growing and it's time to discover more industry trends. BSP continues to set really good financial goals, Fintech Philippines Association also promotes inclusion, UnionDigital shares how blockchain could be used to expand this business, and PayMaya gives good advice on how to use digital payments to enable more businesses to grow especially in the Philippines. With Huawei cooperating even more, this could accelerate even further and bear more fruitful partnerships in the years to come.

That's amazing to see, as it become a reality for all of us at this side of the world.

PH Contact Center Industry Lauded by Government

A tough and brazen partner in economic recovery, the local contact center industry was praised by the Philippine government for its efforts in making sure business is moving and for being resilient during the pandemic.

The Secretary of the Department of Trade and Industry says "We have seen your work despite the huge challenges of COVID-19, the third quarter of this year shows IT-BPM's recovery. It had posted moderate growth and is steadily rising in the last few months." This was mentioned during the Contact Islands '21 session on "Government and Private Partnership: Road to Recovery".

IATF Karlo Nograles also attests on how the IT-BPM industry has continued to lead in employment generation even on the countryside. He also mentions how Filipino IT-BPM workers have remained competitive and remain to be a crucial part of how we could transition to the new normal. CCAP Chair Benedict Hernandez reiterated how it is crucial for IT-BPM firms to have backing from the government as the industry was classified to be essential during these times and keep support intact for clients and keep their employees employed too. CCAP President Jojo Uligan on the other hand thanks the government for listening to the sector so they could remain in operation and complete procedures on protocols in work from home arrangements, so it would stay safe during these times. Lopez also said that the contact center and IT BPM industry continue to implement programs and reforms to continue the drive towards economic recovery. He's also keen this would create more opportunities and satisfy patrons even if needs are changing locally and internationally.

Taiwan Excellence’s “Stay-At-Home Economy” Starts Fight Versus Pandemic and Boredom

COVID-19 has affected tons of people, closed businesses and wreaked havoc in the economy. People stayed at home for the most, and got bored in the process. They started doing things left and right, and let their creative genius take the wheel.

Taiwan sets a good example of how to successfully contain the virus. Taiwan’s Bureau of Foreign Trade, Ministry of Economic Affairs (MOEA) Deputy Director General Guann-Jyh Lee attributes these with the cooperation of all citizens and industries plus the measures they have taken while they stay-at-home. They want to share how they did it. For better health, they encouraged home workouts, to stay warm after sweating and be hydrated by water to fend off disease.

Taiwan Excellence selected three award-winning companies namely Strength Master, Victory and the AROFLY for the latest home exercise trends. Things that could better cardiopulmonary conditions, muscle strength, and overall health. Strength Master’s cycle boxer has interactive boxing games that can simultaneously train brain response. It also imoroves cardiopulmonary function. This makes it fun to do boxing! Muscle strength training also improves physique and immunity. Victory, got Olympics Weightlifting silver medalist Ying-Chi Lu to do weight training on Victory’s shock-absorbing mats. It reduces vibration and noise while lifting barbells. It just makes training at home an enjoyable feat. AROFLY used smart technology to move cycling into homes. Now with stats, everyone can workout smart at home and burn fat effectively.

This also raised sales of home and fitness products by 20 percent, helping tons of businesses survive during the pandemic. Taiwan Excellence has chosen the best of the best Taiwanese companies putting their seal on it. There are tons more of them who would likely celebrate Taiwan's zero new coronavirus cases, I envy them! Make sure to look for the seal when you buy products, Taiwan Excellence takes good steps in making your home smart and disease free, you're doing your share to fight against the disease and boredom.

Now I want my own bike from Taiwan :(

The Pains of Bankruptcy

I have seen a lot of people suffering in the US after the recession. I have friends who went through the same trials as everybody else there and still... they haven't recovered because they earn so little than what they used to. Filing bankruptcy was one of the easy things to do at that time but there are really big repercussions in doing that. The measly help from the government would not be able to get the children to school nor feed them three times a day. If this happened to them it would surely be possible anywhere else in the world.

United States insolvency dossiers increased to almost 14% at the end of the 2010 fiscal year. Bankruptcies dropped slightly from 2009 for non businesses. Although at the same period Chapter 7 liquidation and Chapter 13 reorganization (the one for personal bankruptcy) indicated significant increases. This has been affirmed by well known Sacramento bankruptcy attorney Gerald Glazer.

The worldwide and US recession that began in December 2007 ended in June 2009. This makes it the longest since the Great Depression. The National Bureau of Economic Research confirms this as we have seen the worse 18 months in that same period. These businesses appear to be recovering now but personal bankruptcy still lingers because of long-term unemployment and re-employment of the same people with lower indicated earnings. I hope it would not happen to us anytime soon. I am hopeful that the country's economic managers would be able to formulate a way to produce safeguards so we wouldn't suffer the same fate. Otherwise we'll stay in the third world title for a longer time.








Disclosure Policy

Technology Infrastructure and its Benefits

The Internet has been a mighty tool for economies and marketing strategists alike. People purchase things on line and the convenience you can get from all of these things is phenomenal. Some institutions can even deliver purchased products to your doorstep for free. The value of internet marketing and its benefits has outweighs the problem this medium has brought about in the industry. Harnessing its power is essential so we as a country would be able to perform well in a globalized economy.

The Philippines has a lot to offer; and if we do not try and cope up with the technology standards of our neighbors in South East Asia... there will be a vacuum for raw talented people. Our economy will remain stagnant due to poor network infrastructure and we would not be able to hit out economic goals no matter how much we want to compete with other countries. I would like to have my badge of honor set in keeping a safe but constant GDP growth and have that felt by the people I love in the Philippines. It's the perfect prerogative any leader should have. Now that we have elected a president who promises a better path to economic stability; I wish he takes the time to listen and heed the call for better infrastructure as we face globalization head on! Who's with me on this plan?! Let's go!

Greece is Dying

I am a little hesitant to talk about this but the President of Greece Papadou just announced that their country needs serious loans from the IMF to get back into the market. They will be sourcing these funds from Germany but their Chancellor is quite on a setback because she has not seen any strong plan how to get back in its original state. Right now they are showing no signs of recovery and their government is not that optimistic too. Riots of all forms happened in their capital and even the President got onto a remote island to announce them giving up on the government's ability to continue operations.

The problem is, there is quite a huge amount of history in that location that I wouldn't be able to see. Why did they join the EU in the first place?! Their currency did not handle it well obviously. Now comes the rescue plan that never even convinced the one who will loan them the money. I wonder if they would be able to look at themselves a few years from now. Even the labor force are protesting because pretty sure IMF will tell its corporations to cut down on wages. When will this happen?! That is the question that the current regime will have to answer to.

Change We Need in SOHO Businesses

Times are hard and even the greatest 20 countries are scuffling to merge today in London for a summit to resolve the world financial crisis. The G20 with months worth of agreements from coast to coast worked together to formulate not just a stimulus package worth trillions of dollars but a safety net of huge changes in the system of capitalism in the world market. The Asian currencies have all rallied and brought huge gains against the dollar which makes positive impact on their cause because this is what they have been all wishing to do.

The result of quarters that have been in negative growth even for these well to do countries is so hard since thousands lost their jobs. There are some parts of the EU countries that had to cut down on their wages up until 10 percent so as to at least keep their businesses afloat. The Philippines however is doing an awesome job because it has even posted slow growth when everybody else was posting negative GDP percentages together with only 1 other country in the region. This is good news for us but I hope the government would be able to sustain this, otherwise we would be in the same boat as with the stricken countries.

The President has been suggesting to stimulate the market with job opportunities and she is also spearheading government initiatives. The role also of entrepreneurs has been harnessed for home and small office businesses. This not only generates jobs but also empowers the person to have their own businesses at their own home. I like the ones also recommended in http://www.PaidIdea.com that explains how on line businesses thrive through these tough times. These are all legitimate and home based so it is quite easy for any Internet savvy individual. Logistics for it are also cost effective since you are being pushed to be your own boss. I will embark on this lucrative line of businesses and see how I would fare in a couple of years. Wish me luck!

Bad News Inevitable for Philippine Economy

I don't want to sound too bad in telling you about this but there is a big possibility that the economy of the country is going down and this is expected by Malacanang. This has been the predicament of the administration because of the global financial crisis. However, Press Secretary Cerge Remonde said that the palace is generally happy because the Philippines is one of the only 2 countries that had positive growth rate.

In the report from the International Monetary Fund (IMF), there will be a 2.25 gross domestic product cut to the economic growth rating of the Philippines because of the low remittances by OFW's and low earnings of the country in the export industry.

Together with this, Remonde said that there will be a huge study that will be done by the palace administration about unemployment insurance that was recently suggested by NEDA Director-General Ralph Recto. I on the other hand would not recommend this because it would jeopardize the current unstable funding of institutions both in the government and private sector. They better think of another way. (photo by AP)

Philippine President GMA; Proud of The Strong Economy despite US Recession

Hey! don't compare the height! People say she's strong and powerful yeh know!

Despite the global economic crisis that affected the US, Europe and Asia... the Phillippine economy continues to be strong says President Arroyo. From a tv show I watched this afternoon, she stressed while speaking on a conference in Makati that the government she says has readied itself for these kind of situations. I doubt that it is the real score but I consider this strength is caused by the millions and billions of dollars that our Overseas Filipino Workers is pouring in as expected because we are obviously nearing the Yuletide season.

Nothing beats Christmas celebrations in the Philippines! We spend a lot this season!

I've heard that even the discovered oil in the Galoc property is going to earn 60-40 in favor of the government (in royalties) and it will be cheaper to transport oil from there instead of ports elsewhere. Palawan crude will be still sold at prices indicated by the world market. I just hope the government does not waste this opportunity to have the resources' earnings go to the rightful set of people. They in turn would be able to use the money for the right projects and make our country stable before the 200million barrels of oil run out. I hope that its not the last of it too because they are still exploring of course!

We (the Philippines) by the way have a 7 percent GNP rate last 2007 and it is expected to be higher this year unlike other countries that are in a slowdown. She also urges the business community to report anomalies to the anti-red tape task force. I just hope this just works so lets just be optimistic and cross our fingers and stop complaining too much! lolz! ^_^