by Ferry Bayu | Aug 16, 2023 | Business
Binance files for protective order against SEC
Crypto exchange Binance late on Monday filed for a protective court order against the U.S. Securities and Exchange Commission, saying the regulator’s requests for information were “over broad” and “unduly burdensome.”
BAM Trading, Binance U.S.’ operating company, and BAM Management in a court filing in the US District Court of Columbia said the group had already provided sufficient information to the regulator.
The protective order seeks to limit the SEC, among other things, to four depositions from BAM employees and to drop the deposition of BAM’s chief executive and of its chief financial officer, without naming anyone.
Binance did not immediately respond to a request for comment, while the SEC declined to comment.
U.S. regulators sued Binance and CEO Changpeng Zhao in June for allegedly operating a “web of deception,” listing 13 charges including claims the company artificially inflated its trading volumes, diverted customer funds, failed to restrict U.S. customers from its platform and misled investors about its market surveillance controls.
“The SEC has still yet to identify any evidence suggesting that customer assets were misused or dissipated in any way,” the filing said.
The SEC has declined BAM’s proposals to meaningfully limit its requests and is opposed to the motion for a protective order, the filing said.
by Ferry Bayu | Aug 16, 2023 | Business
Philippine Travel and Tourism Industry: Ready for Takeoff
A new study shows that Filipinos are now more confident about traveling internationally, despite the COVID-19 situation. However, the rising cost of travel remains a major concern.
What’s holding Filipinos back from traveling? Study reveals top concerns
The travel and tourism industry in the Philippines is a crucial driver of economic growth, the country is looking for a strong comeback after facing significant challenges during the COVID-19 pandemic.
In 2019, the industry contributed a remarkable 12.7% to the country’s GDP, amounting to PhP 2.48 trillion, and employed around 5.7 million Filipinos, making it a vital source of income for local communities.
However, the COVID-19 pandemic dealt a severe blow to the sector, causing massive disruptions and job losses over the past few years. In 2021, the sector was only able to contribute 5.2% to the country’s GDP. Tourism employment in 2021 also took a nosedive at an estimated 4.90 million, which, while higher than the 4.68 million recorded in 2020, is still significantly lower than pre-COVID numbers.
Amidst the adversity, promising signs of recovery are evident. According to a new study by Standard Insights, 76.63% of Filipinos feel safe and secure when traveling internationally despite the COVID-19 situation. Only 6.2% feel insecure about international travel this year. This resurgence of confidence signals a potential revival of the travel and tourism industry.
However, the study also revealed that the increased pricing of travel has become the biggest worry of 67.48% of Filipinos about travel in 2023, particularly with inflation and soaring commodity prices looming in the backdrop. This signifies the growing financial constraints of Filipinos, as they are now finding it more difficult to afford to travel.
Nonetheless, industry experts and government officials remain optimistic about the sector’s recovery. They are determined to capitalize on the newfound confidence among Filipino travellers and collaborate closely with businesses and the local community to rejuvenate the industry, reigniting economic growth. The collective efforts of businesses, government agencies, and the Filipino community will be vital in ensuring a successful comeback for the travel and tourism industry in the Philippines.
“The travel industry has always been a major driver of economic growth in the Philippines. However, our insights show that people are now more concerned about the rising cost of travel than they are about health and safety issues, which were a top concern last year. I am convinced that the tourism industry will rebound, and I am eager to see how the public’s opinion and behavior evolve in the coming months.” – Florian Gaudel, Founder & CEO of Standard Insights
Standard Insights is a market research firm that offers the best quality consumer insights using an innovative methodology. Our team of experts reaches real, representative respondents to give our clients the confidence they need when making important decisions about their brand’s future.
Standard Insights
Rémi Marié
Head of Digital
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by Ferry Bayu | Aug 16, 2023 | Business
Rice ‘sufficient’ but DTI, DA to monitor prices: Palace
MANILA — President Ferdinand Marcos Jr. on Wednesday tasked the trade and agriculture departments to closely monitor rice prices and go after hoarders and “price manipulators,” Malacañang said on Wednesday.
“Rice supply is sufficient,” Marcos said, as quoted by the Presidential Communications Office.
“Prices are, however, very variable,” he added.
The President said the government is working with the private sector to keep prices stable and continue providing affordable rice in Kadiwa stalls.
“The President will go after hoarders and price manipulators who take advantage of the lean months before harvest season,” Press Secretary Cheloy Garafil said.
The Department of Agriculture had said it would not be easy to ascertain price manipulation now that the NFA has been stripped off its regulatory function.
“Sa ngayon kasi hindi basta-basta pwedeng sabihin na price control, ano basehan natin? We are not in the position of a national emergency para mag price control,” DA spokesperson Rex Estoperez had said.
Rice price has been steadily rising in the past few months, further triggered by India’s export ban.
Marcos assured the public last week that the country would have enough rice supply until the height of the El Niño phenomenon next year.
by Ferry Bayu | Aug 15, 2023 | Business
Canva Philippines Negosyantrends Expo 2023 empowers businesses, teams of all sizes with design tools, activities
MANILA, Philippijnes — Canva Philippines held Negosyantrends Expo 2023, its biggest face-to-face event for entrepreneurs and aspiring business owners, last August 5 at the Music Hall of SM Mall of Asia.
The event featured one-on-one consultations with brand and design experts, interactive stations and design activities to help entrepreneurs grow their businesses.
Headlined by Reese Fernandez-Ruiz, president and co-founder of Rags2Riches; Andre Chanco, head of product and co-founder of Yardstick Coffee; and Cara Paguio, senior creative for photography at Canva and owner of the local beachwear brand Guppy PH, the expo featured insightful discussions on starting and managing a business, building a brand, implementing innovations and nurturing communities, among others.
“Negosyantrends marks an exciting time for Canva Philippines. It is our first face-to-face event since the pandemic and a testament to our stronger commitment to Pinoy negosyantes. It’s very inspiring to witness how Canva has empowered businesses, and we look forward to where this new chapter takes us,” Maisie Littaua, Canva Philippines head of marketing and growth, said.
The expo featured interactive stations such as the Design Playground for an immersive Canva experience; the Brand Classroom, where event attendees got a 15-minute consultation with a brand expert; the Sari-Sari Street, where select businesses showcased and sold their products. The attendees also enjoyed games and brought home printed items designed on Canva.
Unleash creativity, collab and design content for your biz
When COVID-19 hit, Filipino businesses turned to social media to reach their customers. With Canva’s design solutions, businesses of all sizes were able to build their brands, create engaging content, and publish them all within the platform.
“During the lockdown, Canva helped us a lot in developing our branding, designing our product labels and packaging, ads and social media content, and on overall business visibility. Canva is our go-to tool for designing our new products, collections and content. Now that Canva has upgraded features, that would help the users more,” shared Soyscape PH owners Christopher Banaag and Mark Calica.
Chanco shared how their team leveraged the power of social media to connect with their customers: “The number one thing we did for two years was to be the loudest online. Being able to engage digitally with existing customers saved Yardstick during Covid.”
Canva also offers customizable templates you can update with your brand colors, fonts and logos. Choose from Canva’s media library of over 100 million visual and audio assets. Canva Pro users can also access features like Magic Resize, Background Remover, Folders and Brand Kits.
For businesses with a group of two or more, Canva for Teams enables you to collaborate together, streamline your workflow, keep projects organized, and stay on-brand with Brand Kit, Shared Folders and Brand Controls.
Canva’s Visual Suite consists of an array of features that provide end-to-end design solutions for business owners.
Canva Docs lets your team create visually engaging documents, from business proposals to reports and even checklists.Whiteboards allow teams to collaborate, brainstorm, and plan on an infinite canvas.Canva Presentations let you create presentations that will surely captivate your audience.Online video editor allows you to create professional and engaging videos, complete with animation and speed controls.Canva Websitesmakes it easy to design a responsive one-page website, perfect for landing pages and event invitations, especially for those who need a website without coding experience.
Leira Dumalay, owner of Baked Goodies by Leira, highlighted how Canva makes designing easier for business owners like her: “I love how Canva is accessible to everyone. They have pre-made designs that businesses can use to make their projects. I also love that Canva listens to their users to improve their services.”
Empowering Pinoy entrepreneurs through design
In 2020, Canva Philippines launched Canva for Negosyo, which provides entrepreneurs with free branding and graphic design resources, marketing toolkits, photo collections and video tutorials.
The Canva for Negosyantes community on Facebook has since reached over 60,000 members and continues to be a platform for many business owners to share ideas, collaborate on designs and provide insights to each other.
As Pinoy entrepreneurs take their businesses online, we want to be right there with them,” Littaua said. “When it comes to design and branding, Canva for Negosyo is the Filipino business owner’s partner in creativity and productivity for their digital presence.”
by Ferry Bayu | Aug 15, 2023 | Business
AnyMind Group CEO Kosuke Sogo is appointed to the APAC board of MMA Global
AnyMind Group [TSE:5027], an end-to-end commerce enablement company, is today announcing that Kosuke Sogo, CEO and co-founder of AnyMind Group, has been appointed to the Asia Pacific board of MMA Global.
On his appointment, Sogo said: “This appointment is justification for the impact that AnyMind has had on the industry in our young seven-year lifespan. Our technology across the commerce and marketing ecosystems means that I can bring a unique perspective to the table, and I’m looking forward to working with the other board members to further the industry and shape the future of how businesses grow, reach and engage with their customers.”
AnyMind Group started out in the digital marketing and influencer marketing space in 2016, and expanded its technology and offerings to serve publishers and creators. In 2020, the company further expanded into the business supply chain by developing platforms for e-commerce, logistics, conversational commerce and manufacturing.
Rohit Dadwal, MMA Board Member and Managing Director APAC, MMA Global APAC, said: “We are thrilled to welcome Kosuke Sogo from AnyMind to the board of MMA Global APAC. With his extensive experience in commerce and marketing technology and his passion for driving growth, we are confident that he will be a valuable addition to our association. MMA is the only association that brings together the full ecosystem of marketers, martech and media companies, and with Sogo’s expertise, we can continue to work towards architecting the future of marketing and delivering growth today.”
The Asia Pacific board of MMA Global comprises executives from Google, Meta, Grab, TikTok, Publicis, Procter & Gamble, Inmobi, Income Insurance, DEPT, UN:ventures, Advent International, Anzu.io and H+.
About AnyMind Group
Founded in April 2016, AnyMind Group [TSE:5027] is an end-to-end commerce enablement technology company with a purpose to make it exciting for everyone to do business. The company provides two broad offerings to brands and businesses, publishers and influencers: Brand Commerce and Partner Growth. Brand Commerce provides businesses with the company’s platforms for manufacturing, e-commerce enablement, marketing and logistics, whilst Partner Growth provides web and mobile app publishers along with influencers and content creators with platforms for monetization and optimization. Partner Growth customers can also tap on the company’s Brand Commerce offering. AnyMind Group has over 1,300 staff across 19 offices in 13 markets, including Singapore, Thailand, Indonesia, Vietnam, Cambodia, Malaysia, the Philippines, Hong Kong, Taiwan, Mainland China, Japan, India and the United Arab Emirates.
by Ferry Bayu | Aug 15, 2023 | Business
MicroSourcing bolsters Southern NCR presence, debuts 11th service delivery center in Parañaque
MicroSourcing, the pioneer and largest offshore provider of managed services in the Philippines, powered up its Southern Metro Manila presence with the launch of its eleventh service delivery center, nestled in the Paranaque City.
This new service delivery center allows MicroSourcing to take advantage of the rich talent pool in nearby provinces, including Cavite, Las Pinas, Batangas, and Laguna. The newly established site will serve as a nexus for a diverse range of industries, including software development, accounting, information technology, engineering, digital marketing, and contact center services.
With the presence of esteemed guests and industry leaders, the inauguration ceremony was nothing short of a grand affair. Under Secretary Jocelle Batapa Sigue, who represented the Department of Information and Communications Technology (DICT), praised MicroSourcing’s pivotal role in boosting the Philippines’ standing on the global outsourcing stage through its unwavering commitment to quality services and advancement of the ICT industry. She also applauded the company’s initiatives in generating job opportunities in neighboring provinces of the NCR and extending work-from-home options across the Philippines, thereby creating positive change in the communities where they operate.
MicroSourcing’s CEO, Haidee Enriquez, expressed her excitement at the inauguration of the new facility, which is designed to highlight the Philippines’ capabilities and celebrate local festivals.
“As the leading offshore provider of managed services, we are expanding our operations across different talent markets, employing 8,000+ professionals, 70% of whom enjoy the flexibility of hybrid and permanent work-from-home arrangements. This is a fitting closure to our financial year, and we’re looking forward to adding at least two more service delivery centers in the countryside in the upcoming year, contributing to a more inclusive growth. ”
In a show of trust and support for MicroSourcing’s expanding operations, executives from the Wilson Group, a client since 2015, were present at the inauguration. Ethel Contreras, Vice President of Operations, rejoiced at this robust support from clients. “The overwhelming response from our select clients shows the enduring trust they have placed in MicroSourcing. Impressively, even before the site’s official launch, 68% of the space has already been secured by clients for their staff. We are deeply happy and thankful for their continued partnership,” Contreras noted.
Located on the ninth floor of the Harton Corporate Center, this new hub provides a productive and secure workspace, complete with complimentary coffee and refreshments in the spacious pantry, ample meeting rooms for seamless team collaborations, and 24/7 security for the 280 in-center employees. With advanced IT resources, the center guarantees smooth operations, minimal disruptions, and enhanced employee productivity. Moreso, the center’s prime location allows for easy access via many modes of transport, and its proximity to shopping areas, retail stores, and cafes ensures a better overall experience for its dedicated professionals.
MicroSourcing’s eleventh service delivery center in the Philippines further solidifies their active support and leadership in the industry’s goal to add 1.1 million jobs by 2028, playing a pivotal role in the expansion and innovation of the IT-BPM sector.
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