by Ferry Bayu | Aug 24, 2023 | Business
Shopee partners with League of Provinces to help digitize MSMEs
Shopee on Wednesday inked a partnership with the League of Provinces of the Philippines (LPP) to help digitize micro, small, and medium enterprises (MSME) in the country.
Shopee’s Head of Business Intelligence Martin Yu said their goal is to upskill Filipino sellers through free training programs on how to sell their products online and then onboarding them to the e-commerce platform.
“These are grassroots. These are people who don’t know how to do this yet. A lot of our program is designed to teach. That means having workshops, get them to list online and sell online. On top of us granting them this journey is giving their products that pathway to the customer base that is the Philippines,” said Yu.
The program will be piloted in the province of Quirino, where LPP National Chairman Dax Cua serves as governor, before being implemented in other rural areas.
“Quirino is a very rural province. There’s not yet any brick-and-mortar shopping mall in Quirino. And so when we thought of partnering with Shopee, we really envisioned to leapfrog into the future. Wala man kaming shopping mall sa Quirino, we will have the first provincial virtual shopping mall,” said Cua.
Congresswoman Mindy Cua, who represents the lone district of Quirino, was also present during the launch.
She shared that local entrepreneurs from Quirino are very excited about the prospect of having a bigger market for their processed agricultural products such as ginger tea, banana chips, ube powder, and banana flour.
“They’re very, very excited because they have a lot of products and ideas in mind that they want to produce and sell. But of course, selling it to your neighbor is not really the ideal setup. So if they have a huge customer base, it will be easier for them to sell,” she said.
The MSME digitization program was announced during the campaign kickoff of Shopee’s 9.9 sale.
Yu said they are confident that the 9.9 shopping spree will be successful despite elevated inflation.
“If anything, I think it’s natural that people would come look on the platform. You want to compare prices. Saan makahanap ng good prices and great assortment? Our kababayans, they’re very very good at finding great deals,” he said.
Shopee’s 9.9 Super Shopping Day sale starts from September 1 to 10.
by Ferry Bayu | Aug 24, 2023 | Business
Philippines may still grow by 6% this year, says Remolona
MANILA -Despite a disappointing second quarter output, Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. expects the domestic economy to pick up pace and attain a full-year growth rate of 6 percent, the lower end of the government’s target range for 2023.
In a chat with business editors on Tuesday night, Remolona said while 7 percent, the upper end of the target, may no longer be feasible, “we think it (growth) would hit 6 percent.”
One distinct factor that had caused the country’s second quarter gross domestic product (GDP) growth rate to soften to 4.3 percent, Remolona explained, was government underspending, which was now being addressed.
Iluminada Sicat, senior assistant governor of the Monetary Policy Sub-sector, noted that the Department of Budget and Management had committed to push various agencies to “fast-track their expenditures in accordance with the 2023 budget.”
One of the underspending government agencies is the Department of Social Welfare and Development, Sicat noted, but only because it was cleaning up its database of Pantawid Pamilyang Pilipino Program or 4Ps.
Patterned after the conditional cash transfer scheme implemented in other developing countries, the 4Ps program provides cash grants to beneficiaries provided that they comply with the set of conditions.
“Once everything has been validated and verified, then disbursement of ayuda (cash support) to relevant population will be fast-tracked,” Sicat said.
In 2022, the Philippine GDP grew by 7.6 percent, exceeding the government’s target of 6.5 to 7.5 percent. This was the fastest pace seen since 1976 and made the country one of the best-performing economies in Southeast Asia.
Asked about whether he shares the concern of some economists on the widening of the current account deficit, Remolona said the big surplus recorded in previous years had been due to underinvestment.
by Ferry Bayu | Aug 24, 2023 | Business
Price analysis 8/23: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB
Bitcoin and altcoins perked up today, but is this rally nothing more than an oversold bounce?
When the markets are trending, traders should be active if they want to earn money. On the other hand, in a ranging market, it is better to wait on the sidelines with patience, or else traders may lose money due to choppy random moves in either direction.
Bitcoin’s
BTC $26,496
sideways price action since the sharp fall on Aug. 17 shows that the bulls and the bears are unsure about the next directional move. Therefore, it is better to wait for the breakout to happen before waging large bets.
In the short term, institutional traders also seem to be taking a cautious approach. A CoinShares report showed an outflow of $55 million from digital asset investment products for the week of Sept. 13.
What are the important support and resistance levels that need to be crossed for a trending move to start in Bitcoin and altcoins? Let’s study the charts of the top 10 cryptocurrencies to find out.
Bitcoin price analysis
The long tail on Bitcoin’s Aug. 22 candlestick is a positive sign, as it shows that the bulls are fiercely trying to protect the support at $24,800.
However, the bulls will remain under pressure until they clear the overheard hurdle at $26,833 and then the 20-day exponential moving average (EMA) at $27,777. If both these resistances are overcome, it will indicate that the BTC/USDT pair may extend its stay inside the $24,800 to $31,000 range for a while longer.
Although the downsloping 20-day EMA indicates an advantage to bears, the oversold levels on the relative strength index (RSI) point to a possible recovery in the near term.
The bears will have to sink and sustain the price below $24,800 to further strengthen their hold. That could open the doors for a potential drop to $20,000.
Ether price analysis
Ether
ETH $1,674
once again dipped below the strong support at $1,626, but the long tail on the candlestick shows solid buying at lower levels.
The onus is on the bulls to drive the price above the overhead resistance of $1,700. If they do that, the ETH/USDT pair could reach the 20-day EMA ($1,756). This remains the key level to watch out for in the near term.
If the price turns down from this level, the bears will again try to yank the pair below the $1,626 to $1,550 support zone. If they succeed, the index could start a downward move toward $1,368.
Contrarily, a break above the 20-day EMA will enhance the prospects of the pair remaining inside the $2,000 to $1,626 range for a few more days.
BNB price analysis
BNB
BNB $220
bounced off the psychological support at $200 on Aug. 17, indicating that the bulls are trying to arrest the decline at this level.
The recovery could reach the 20-day EMA ($227), which is again likely to act as a formidable hurdle. If the price turns down sharply from the 20-day EMA, the bears will make another attempt to sink the BNB/USDT pair below $200. If they manage to do that, the pair could slide to $183.
Instead, if the price rises above the 20-day EMA, it will suggest that the bears are losing their grip. The pair may then rise to the resistance line, which is an important level for the bears to defend.
XRP price analysis
XRP
XRP $0.53
turned down from the overhead resistance at $0.56, but a minor positive is that the bulls have not allowed the price to skid below $0.50.
The XRP/USDT pair may consolidate between $0.50 and $0.56 for some time. The downsloping 20-day EMA ($0.58) and the RSI near the oversold territory indicate an advantage to bears.
If the price breaks below $0.50, the pair could start its descent toward the next major support at $0.41. That could indicate arange-bound action between $0.41 and $0.50.
Alternatively, if buyers thrust the price above the 20-day EMA, it will suggest that bulls are on a comeback. The pair may then rise to the 50-day simple moving average (SMA) of $0.63.
Cardano price analysis
The long tail on Cardano’s
ADA $0.268
Aug. 22 candlestick shows strong demand at lower levels. The price is currently stuck inside the range between $0.24 and $0.28.
If the price plummets below $0.24, the ADA/USDT pair could start the next leg of the downtrend. The pair could first slump to $0.22 and thereafter to the psychological support at $0.20. The downsloping 20-day EMA ($0.28) and the RSI in the negative territory indicate that bears have a slight edge.
This negative view could be invalidated in the near term if buyers propel the price above $0.28. If they do that, the pair may start a relief rally to the 50-day SMA ($0.29) and thereafter to $0.32.
Solana price analysis
Solana
SOL $22
plunged below the immediate support at $20 on Aug. 22, but the bulls purchased the dip, indicating demand at lower levels.
Buyers will have to push the price above the 20-day EMA ($22.64) if they want to salvage the situation. Above this level, the SOL/USDT pair is likely to pick up momentum and attempt a rally to $26. The 50-day SMA ($23.60) could act as a barrier, but it is likely to be crossed.
Contrary to this assumption, if the price turns down from the current level or the 20-day EMA, it will signal that the bears have not given up. That will increase the likelihood of a break below $19.35. If that happens, the pair may drop to $18 and eventually to $16.
Dogecoin price analysis
Dogecoin
DOGE $0.06
rebounded off the support at $0.06 on Aug. 21 and 22, indicating that the bulls are buying the dips to this level.
The bulls are attempting to start a relief rally that could reach the 20-day EMA ($0.07). Sellers are likely to protect this level with vigor. If the price turns down from the overhead resistance, it will suggest that the DOGE/USDT pair may remain stuck between the 20-day EMA and $0.06 for some time.
Buyers will have to kick the price above the moving averages to start a rally to the next major resistance above $0.08. On the downside, a break and close below $0.06 could signal the start of a downward move to $0.05.
Related: Here’s what the latest Bitcoin price correction reveals
Polkadot price analysis
The bears tried to tug Polkadot
DOT $4.49
below the vital support at $4.22, but the bulls held their ground as seen from the long tail on the Aug. 22 candlestick.
The 20-day EMA ($4.73) is turning down and the RSI is in the negative zone, indicating that bears hold the edge. If buyers want to signal a comeback, they will have to propel the price above the overhead zone between $4.56 and the 20-day EMA.
Meanwhile, the bears are likely to have other plans. They will try to sell on minor rallies and pull the price below $4.22. If they succeed, the DOT/USDT pair could start the next leg of the downtrend. The next support is at $4.
Polygon price analysis
Polygon
MATIC $0.5577
snapped back from $0.53 on Aug. 22, indicating that the bulls are trying to keep the price above the crucial support at $0.51.
MATIC/USDT daily chart. Source:TradingView
The bulls have their task cut out because they are likely to face strong selling at $0.60. If the price turns down from this resistance, it will suggest that bears are active at higher levels. That may keep the MATIC/USDT pair stuck inside the $0.51 to $0.60 range for a few days.
A break and close below $0.50 will signal the resumption of the downtrend. The pair could then tumble to $0.45 and later to $0.42. On the contrary, a rally above $0.60 could set up a rally to $0.65 and then to $0.69.
Shiba Inu price analysis
Shiba Inu
SHIB $0.000008
fell below the 50-day SMA ($0.0000084) on Aug. 20, but the bulls did not allow the price to retest the important support at $0.0000072.
SHIB/USDT daily chart. Source:TradingView
The solid bounce on Aug. 22 shows strong buying at lower levels. The bulls will next attempt a rally above the moving averages. If they can pull it off, the SHIB/USDT pair may pick up momentum and soar toward $0.000011.
Conversely, if the price turns down from the moving averages, it will suggest that the bears remain in control. The pair could then collapse to the strong support at $0.0000072 and subsequently to $0.0000064.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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We believe that the decentralized world will grow exponentially, becoming an integral part of our daily lives. We work every day to help educate our readers and raise awareness of the intricacies and advantages offered in today’s digital revolution.
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by Ferry Bayu | Aug 23, 2023 | Business
JFC says Tiong Bahru Bakery, Common Man Coffee Roasters won’t compete with CBTL
MANILA — Jollibee Foods Corp said on Tuesday its new bakery and coffee ventures won’t compete with its own brands.
In an earlier disclosure to the Philippine Stock Exchange, the country’s largest restaurant operator said it formed a joint venture with Food Collective Pte Ltd (FCPL) to bring Tiong Bahru Bakery and Common Man Coffee Roasters to the Philippines.
The Jollibee Group owns Coffee Bean and Tea Leaf (CBTL). It also has an interest in Vietnamese brand Highlands Coffee.
During its second quarter earnings briefing, JFC Chief Financial Officer Richard Shin said they don’t see the recent investments cannibalizing the coffee market since the kinds of coffee and food products that will be served in these new stores would be quite different from what you would see in CBTL.
Tiong Bahru Bakery is famous for its hand-made croissants while Common Man Coffee Roasters is known for its specialty coffee.
“Common Man will be a different expression of coffee in that it’s closer to a more premium barista coffee,” Shin said. “That’s what it’s famous for and therefore it will not be competing with Highland Coffee or CBTL, but in fact, it’s a new segment,” he explained.
Shin also confirmed the two Asian brands would be coming to the country “soon.” He said the joint venture has been set up, the funding is ready, a location has been chosen, and they have a management and staffing plan for the bakery and coffee shop.
But unlike JFC’s other coffee brands, Shin said they’ll be keeping the number of branches for Tiong Bahru Bakery and Common Man small to reflect the boutique style the brands are known for in Singapore and Malaysia where there are less than 20 outlets.
by Ferry Bayu | Aug 23, 2023 | Business
Metrojaya Partners with TheNoor to Revolutionize Charitable Donations
Metrojaya, a prominent retail brand in Malaysia, is thrilled to announce its strategic partnership with TheNoor, an innovative online app dedicated to transforming the Muslim lifestyle experience in. This landmark collaboration aims to bring about significant social impact by seamlessly integrating Tabarru, TheNoor’s groundbreaking donation platform, into Metrojaya departmental stores transforming the landscape of charitable donations.
Tabarru, an Arabic term meaning “mutual help,”
perfectly encapsulates the essence of this transformative partnership. By
joining forces, Metrojaya and TheNoor aspire to empower customers to make a difference
by incorporating charitable giving into their shopping experiences. With a
simple scan of the QR code in-store, Metrojaya shoppers now have the
opportunity to contribute to a wide range of causes supported by TheNoor,
encompassing education, healthcare, poverty alleviation, and environmental
conservation.
“We are delighted to partner with TheNoor, a company
that shares our unwavering commitment to making a positive impact on
society,” said Karen Mak, Head of Marketing at Metrojaya. “By
seamlessly integrating Tabarru into our platform, we aim to provide our
customers with a meaningful and effortless way to give back to their
communities. This partnership displays our dedication to responsible business
practices and our collective pursuit of a better future for all.”
“We are incredibly excited about this strategic
partnership with Metrojaya. Together, we are revolutionizing the way charitable
donations are made, empowering individuals to make a meaningful impact in their
communities through seamless integration with Tabarru, our unique donation
platform,” said Mohd Izzairi Yamin, CEO of TheNoor. “This
collaboration exemplifies our shared vision of creating a better future for
all. By leveraging Metrojaya’s extensive reach and customer base, we can inspire
and enable individuals to make significant contributions to causes that matter
to them. It’s about turning everyday activities like shopping into acts of
compassion and social change.”
Vickneswaran Balasubramaniam, General Manager, Noor Luminous
“The Metrojaya and TheNoor collaboration was made possible by mutual consulting
partner to both parties The Protinus Group. The Protinus Group have been a great partner in adding new
revenue streams, introducing new technology and establishing valuable strategic
partnerships.
They are a regional digital transformation company that
identified this social conscience programme, as a means to unfold the “giving
nature” of Malaysians. Tabarru marks a significant milestone in the retail
industry, bridging the gap between commerce and compassion. As Metrojaya and
The Noor continue to pioneer innovation and adapt to the evolving needs of its
customers, this partnership reaffirms our joint unwavering dedication to
corporate social responsibility, solidifying our respective positions as leaders
in the retail and lifestyle sectors”.
For media inquiries, please contact:
Syed Adam
+60125709640
ad**@*****or.co
About Noor Luminous Sdn Bhd
TheNoor (Noor Luminous Sdn Bhd) is Malaysia’s first-ever
Islamic lifestyle super app. TheNoor (which means light in Arabic) is a
Shariah-guided company with an aim to bring Muslims closer to Islam through
continuous learning and exposure to the teachings of Islam via fresh,
accessible, interactive, and individualized methods. Aside from helping users
achieve their spiritual commitment, the faith-based app hopes to help more
Muslims live a holistic lifestyle through its variety of in-app features.
TheNoor app is available for download on the Google Play Store, Huawei App
Gallery, and the Apple App Store. For more information about TheNoor, visit www.thenoor.co/my/
About The Protinus Group
The Protinus Group is a global business transformation
consultancy headquartered in Singapore. They are a next generation innovation greenhouse accelerating scale and
growth for companies with global ambitions. Among their esteemed Clients are
The Noor, MUI Group, Corus Hotels and Metrojaya Department Stores in Malaysia,
Michael van Clarke in the United Kingdom.
The Protinus Group is a global business transformation consultancy headquartered in Singapore. They are a next generation innovation greenhouse accelerating scale and growth for companies with global ambitions. Among their esteemed Clients are The Noor, MUI Group, Corus Hotels and Metrojaya Department Stores in Malaysia, Michael van Clarke in the United Kingdom.
Jheeva Subramanian
jh****@*********rp.com
+61022125160
https://www.protinusgrp.com/
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