by Ferry Bayu | Oct 8, 2023 | Business
Asia groups rally against IMF, World Bank, G7; calls for reparations, stop to fossil fuel financing
Climate groups from Bangladesh, Indonesia, Pakistan, Sri Lanka, Nepal and the Philippines held simultaneous mass actions across Asia to urge the World Bank and International Monetary Fund to cancel debts of Global South countries and stop financing fossil fuel projects. The rallies were timed with the 2023 annual meeting of the two financing institutions happening now in Marrakech, Morocco.
Members of the Asian Peoples’ Movement on Debt and Development (APMDD) took to the streets last October 12, scoring the World Bank (WB), the International Monetary Fund (IMF) and G7 governments for worsening economic conditions in Global South countries and for further exacerbating the climate crisis. In the Philippines, Indonesia, Bangladesh, Pakistan, Sri Lanka and Nepal, they rallied around a common call: “cancel the debt and pay reparations for historical climate and economic injustices.”
Timed with the 2023 annual meeting of the IMF and World Bank, the rallyists joined hundreds of other organizations worldwide marking the Global Week of Action for Debt, Climate and Economic Justice. A statement endorsed by close to 500 organizations and individuals from 74 countries across all global regions denounced the IMF-WB, that “together with other private and public lenders, perpetuate a flawed international financial architecture that exacerbates debt, climate, and economic crises, violating the basic needs and rights of millions of people and nature who have the least contribution, responsibility or control over these catastrophes.”
In the Philippines, hundreds of demonstrators marched to Mendiola, gateway to the presidential palace, with the call “Cancel the debt and pay reparations for historical and continuing injustices!” Ousted dictator Ferdinand Marcos Sr. remains known for his repressive rule as well as for crony capitalism, massive ill-gotten wealth hidden in tax havens and billions of dollars in public debt that served no benefit for the Filipino people. Current President Marcos Jr. shows no sign of moving to repeal the dictator’s Automatic Appropriations decree, which remains in place and continues to ensure that debt repayments are made over any other public need.
Protesters also slammed the Philippine government’s continued expansion and support for debt-funded fossil fuel projects that they decried as ‘illegitimate’ for contributing to the climate crisis, dislocating communities and violating human rights.
“Global South governments should stop paying these illegitimate debts!” said Lidy Nacpil, APMDD Coordinator. “At the same time, lenders such as the IMF, the World Bank and G7 governments should stop pushing more loans as climate finance, and swiftly start the process of debt cancellation, adoption of wealth taxes for spending on urgent economic and climate action, and the rechanneling of public funds away from fossil fuel subsidies towards renewable energy systems.”
Rovik Obanil, Freedom from Debt Coalition Secretary General, recalled how the IMF and World Bank offered solutions in the form of “structural adjustment loans”, that came with such conditions as privatizing basic services and opening the Philippine economy to foreign investors. “These conditionalities were put in place decades ago but the consequences continue to violate our basic rights. Privatization reduces people’s access to water and electricity by catering only to those with the capacity to pay. Tax incentives rob us of potential revenue for urgent public needs. But loans continue to be pushed, including pushing loans for climate finance upon Global South peoples who least contributed to the climate crisis.”
SANLAKAS President Manjette Lopez noted growing discontent over skyrocketing prices of food staples and other goods and services. “From one administration to the next, the Filipino people are promised higher incomes, decent homes, adequate food, only to have these promises broken by elite and corporate-captured administrations, including the Marcos Jr. presidency. It’s time to cut the ties that bind us to international financial institutions such as the IMF-WB and their debt-creating solutions, but that can only happen with working people and communities at the forefront of bigger and bolder fights for jobs, living wages, a decent life and a sustainable future.”
Ian Rivera, National Coordinator of the Philippine Movement for Climate Justice said: “The IMF, World Bank and the G7 are again pushing their standard response to crisis in the Global South — more loans. Even climate finance, which is their obligation to deliver for contributing the most to the climate crisis, is in the form of more loans. This is clearly unjust. We demand grants-based climate finance and the cancellation of loans incurred from fossil fuel projects.”
For Oriang President Flora Santos, the IMF-World Bank’s gender mainstreaming strategy must be exposed for exploiting women’s unpaid care work to make up for the lack of public social services. “These international financial institutions brag about promoting women’s empowerment. The truth is that the IMF’s austerity loan conditions, such as budget cuts in public services, reductions in the public sector wage bill and regressive taxes, lead to reduced access to essential services, loss of livelihoods and increased unpaid work for women.”
APMDD (Asian People’s Movement on Debt and Development ) is a regional alliance of people’s movements, community organizations, coalitions, NGOs and networks
Annalyn JusayZ
+639190049558
me********@***il.com
by Ferry Bayu | Oct 6, 2023 | Business
e27 CEO, Serial Tech Entrepreneur, Ex-Kantar PH CEO, EU Business Builder, And Innovation Council Member Join Embiggen’s Advisory Board
Multi-awarded corporate venturing and innovation firm Embiggen Group formed its first advisory board, which counts global business executives and innovation leaders among its members, as part of its ongoing international expansion in Southeast Asia and Europe.
The five advisory board members are former Kantar Philippines CEO Gary de Ocampo, current e27 CEO Mohan Belani, serial tech entrepreneur and behavioral strategist Cliff Eala, Philippines National Innovation Council member Monchito Ibrahim, and global corporate business-building expert Frank Mattes.
“We, here at Embiggen, are honored to have been joined by Gary, Mohan, Cliff, Monchito, and Frank as part of our advisory board. They will play a crucial role in working with our leadership and management team to help us grow in the Philippines, Asia, and the EU,” said Embiggen Founding CEO Rolan Marco Garcia.
As Embiggen continues to expand its operations in the Southeast Asian region, the five members of the newly formed advisory board will strengthen Embiggen’s presence and reputation in the region’s business community.
Embiggen’s advisory board will also play a crucial role in guiding the firm’s leadership team in making strategic decisions to ensure client satisfaction and the overall success of the business’s initiatives.
“Their decades of combined experience in innovation, leadership, and business building will definitely prove to be an invaluable addition to our team as we continue to work with the region’s most innovative and successful businesses in the coming months and years,” added Garcia.
The advisory board will also have hands-on roles in the Embiggen Group’s client engagements and venture building activities – uniquely giving our clients the opportunity to connect with and work directly with internationally-renowned senior corporate innovation experts.
Gary de Ocampo: Former Kantar PH CEO And Market Insights Expert
Gary de Ocampo is a market research expert and consumer insight consultant who was the immediate past president and CEO of Kantar Philippines, the biggest market research firm in the country. He was also the president of Taylor Nelson Sofres Philippines, another premier market research firm that later became part of the Kantar Group.
These two positions represent over 15 years of experience in market research, consumer insights, and business leadership.
He is currently also a member of multiple advisory boards including the advisory boards of online donation startup Giving Hero and the prestigious Our Lady of Fatima University.
Mohan Belani: e27 Co-Founder And CEO, And Early-Stage Venture Investor
Mohan Belani is the co-founder and CEO of e27, a Singapore-based startup and tech ecosystem platform that supports Southeast Asian entrepreneurs to grow their businesses. He is also the co-founder of e27 Ventures, the venture capital arm of e27.
Belani is also an investor in over 30 early-stage funds across Southeast Asia, India, USA, and New Zealand, and a Partner at the Orvel Early Stage Fund.
Alongside his investor and startup ecosystem enabler roles, Belani is also a mentor for the National University of Singapore Engineering Alumni Mentorship Programme and the Founder Institute.
Monchito Ibrahim: National Innovation Council Executive Member
Monchito Ibrahim is an expert in digital transformation and innovation. Ibrahim served as the Undersecretary for Industry and Countryside Development at the Philippines Department of Information and Communications Technology.
Ibrahim is currently a member of the Philippines National Innovation Council together with Embiggen Founding Partner & Board Member Earl Valencia. Ibrahim and Valencia are the two members who represent the business community in the council that reports directly to the President of the Philippines.
Alongside Ibrahim’s membership in the National Innovation Council and Embiggen’s advisory board, he is also the Lead Convenor of the digital economy advocacy group Alliance of Tech Innovators for the Nation, Vice President for External Affairs for the UP System Information Technology Foundation, and the Vice President and member of the Board of Trustees of the Analytics Association of the Philippines.
Cliff Eala: Behavioral Strategist And Serial Tech Entrepreneur
Cliff Eala is a seasoned behavioral strategist and serial tech entrepreneur with deep experience in numerous industries and markets.
Eala founded BS Works, a firm that helps organizations grow through behavioral science, data, and technology. He also founded Synerbyte Limited, an energy efficiency tech firm that offers solutions including intelligent lighting and smart voltage control systems to commercial and industrial customers across Asia. Eala also founded Sequel Solutions, Inc., a software company that was acquired by a VC fund in 2007.
Currently, he is the board director of CIS Bayad Center, the largest multi-channel payment platform in the Philippines, and PETNET, an urgent cash transaction center owned by the Philippine Stock Exchange-listed Aboitiz Equity Ventures.
Frank Mattes: Global Corporate Venture Building Expert
Frank Mattes is one of the forefront corporate business-building experts worldwide.
Mattes is the Founder and CEO of Lean Scaleup, a Germany-based corporate business-building firm that has helped corporate intrapreneurs assess, accelerate, and scale their corporate startups. Lean Scaleup has built new businesses together with over 35 corporations worldwide including Airbus, Bosch, Philips, Volvo, and Unilever.
Mattes is also an Associate Partner at Dual Innovation, another corporate business-building firm that helps corporations optimize their current core business while simultaneously building new businesses. Dual Innovation has worked with the world’s largest corporations including Samsung, TUV Rhineland, and Deutsche Telekom.
Embiggen is a multi-awarded corporate venture building and innovation group that builds, scales, and invests in new digital ventures with forward-thinking and entrepreneurial organizations. By leveraging corporates’ expertise, insights, and resources, it provides end-to-end solutions that take your teams from learning to executing innovation at startup speed.
It has innovated with dozens of organizations in the Southeast Asian region, including Telstra, Embassy of Finland in Manila, Business Finland, Ginebra San Miguel, European Chamber of Commerce of the Philipines, Australia-New Zealand Chamber of Commerce Philippines, Aboitiz Equity Ventures, Energy Development Corporation, Quorum Group of Companies, FAST Group, Department of Foreign Affairs, and the Department of Science and Technology.
The group’s innovation learning arm Embiggen Innovation Institute has trained over 1,000 innovators and 100 startup founders to date through its various innovation capability building and certification programs including through its partnerships with the prestigious Asian Institute of Management and the Global Innovation Management Institute – the worldwide standard certification body for innovation management.
In 2023, Embiggen received seven awards from numerous prestigious award bodies. Embiggen and its Founding CEO & Managing Partner Rolan Marco Garcia received 4 Circle of Excellence awards from the Asia CEO Awards. In the same year, the Embiggen Group won a Silver Stevie Award under the Most Innovative Startup of the Year – Business Service Industries category at the Asia-Pacific Stevie Awards. Garcia also won Best Corporate Venturing CEO (Philippines) at the APAC-Insider CEO of the Year Awards and Best Philippine Corporate Venture Builder at the APAC-Insider Southeast Asia Business Awards.
Jacob Reyes
+639176369887
he***@***********up.com
by Ferry Bayu | Oct 6, 2023 | Business
Tobu Railway Introduces Its Newest “Spacia X” Express Train, Boasting a 40% Reduction in CO2 Emissions Compared to the Previous Spacia Fleet.
Tobu Railway’s new “Spacia X” express trains, launched on July 5, 2023, on the Tobu Nikko Line, are not only stylish and comfortable with various seating options but also highly eco-friendly. They reduce CO2 emissions by 40% compared to the previous Spacia fleet, primarily using renewable energy sources for their traction current.
The Spacia X is a train with a strong emphasis on design, incorporating windows that draw inspiration from the intricate geometric patterns found in Edo period fretwork carvings. Its color scheme is derived from the elegant “noble white,” reminiscent of the whitewash used on Nikko’s renowned Toshogu Shrine.
Beyond standard seating, passengers have options like compartments, sofas, and lounge-style seats. The most luxurious choice among them is the ‘cockpit suite,’ a roomy and opulent ‘mobile suite’ with an expansive front window vista, evoking the ambiance of a private jet.
The “GOEN” café in Car 1 offers a selection of Nikko beer, Nikko blend coffee, locally brewed saké, desserts crafted from Nikko saké kasu or lees, and snacks sourced from the Nikko region. Furthermore, the café supports the local community by donating a portion of its craft coffee sales to the training of Nikko tour guides from the area.
“The Nikko All Area Pass from Tobu Railway, available for 1 to 4 days, covers round-trip travel between Tokyo’s Tobu Asakusa Station and Nikko, along with transportation within Nikko and access to various attractions and experiences in the Nikko area. However, when using the SPACIA X in conjunction with the Nikko Pass, travelers will need to buy an extra express ticket in addition to the standard pass. This requirement applies to all Tobu Limited Express trains. Details regarding Spacia X fares can be found here:
https://www.tobu.co.jp/spaciax/en/ticket/index.html#sale_ticket
Represents Tobu Railway in Malaysia to promote the tourism area that Tobu Railway covers and to share news information with travel-related partners.
Tobu Railway’s massive network extends through Tokyo as well as
four surrounding prefectures: Chiba, Saitama, Tochigi, and Gunma. With 463.3 kilometers of operating track, Tobu is Kanto’s largest private railway and is used by commuters, students, business travelers, and tourists.
Desmond Haw
+6010-236 2611
de*****@*********on.com
by Ferry Bayu | Oct 6, 2023 | Business
GCash launches prepaid debit card in partnership with Visa
GCash has launched a prepaid debit card in partnership with Visa to help its users with cashless payments.
In a statement, GCash said fully verified users of their app can get the card by go to ”View all”, then find the “Manage” section. Users can then click on “Cards” and tap “Order a GCash Card”.
With the GCash Card, customers can make cashless payments in groceries, restaurants, retail stores, transportation, and make online payments.
The partnership with Visa also means the card can be used in over 200 countries and territories, at over 100 million merchants that accept Visa as payment.
Users who have availed of the GCash Card will also have access to GInsure, where they can get free insurance of up to P20,000 coverage for unauthorized transactions for the first 30 days after activation.
This also includes the P185 price for card replacement in the event of accidental loss or damage to the card, as well as the shipping fee of up to P225.
G-Exchange president and CEO Ren-Ren Reyes said the card will be helpful for Filipinos with informal sources of incomes like freelancers and independent professionals as well as micro and small enterprises.
“GCash is giving every Filipino, whoever or wherever they are, the benefits of owning a card, especially those with no bank accounts or documents typically required to apply for a card,” he said.
by Ferry Bayu | Oct 5, 2023 | Business
Global telecom vendors achieved an aggregate revenue growth rate of 5.4 percent in Q2 2023
The Global Telecom Vendors Update Q2 2023 offers a comprehensive evaluation on the financial and geographic performance of the top 5 prominent global telecom vendors – Cisco, Ericsson, Huawei, Nokia and ZTE.
Cisco achieves impressive revenue growth, while ZTE face headwinds due to economic uncertainties
The revenue performance for each vendor is as follows:
Exhibit 1: Revenue trends YoY basis, Q2 2023
Source: Company reports and filings, Twimbit analysis
Cisco leads the chart with excellent performance across all revenue streams, increasing overall revenue growth by 16 percent, totalling USD 15.2 billion. This can be attributed to 3 key factors – product revenue, service revenue and a substantial growth rate of 28.2 percent in its carrier network business. While the enterprise business is a current focus for other telecom vendors, Cisco’s carrier network business has grown significantly due to the success of its Secure, Agile Networks portfolio.
On the other hand, ZTE faced several challenges in Q2 2023 when ensuring peak performance across all revenue streams. This led to an overall decrease in revenue by 1% percent YoY, reaching USD 4.5 billion in the same period. The factors owing to its decline primarily stemmed from its enterprise and consumer business, which reduced by 12.5 percent and 2.5 percent, respectively.
Innovation sustainability and competitive advantages pressure vendors to think differently
With an increased commitment to accelerate innovation and maintain a competitive edge, R&D investment has recorded an overall increase, with telecom vendors aiming to be more digital-centric.
The R&D performance for each vendor is as follows:
Exhibit 2: R&D performance of vendors, Q2 2023
Source: Company reports and filings, Twimbit analysis
ZTE set the gold standard in R&D investments during Q2 2023, increasing investments by 62.6 YoY, totalling USD 1 billion. This can be attributed to its efforts in increasing the computing power for its infrastructure products and solutions. These include reinforcing the capabilities of their Data Technology, Information Technology, and Communications Technology (DICT).
The result – substantially enhanced competitiveness across all the business sectors of ZTE.
Following closely is Cisco, recording a significant 36.1 YoY increase in R&D spending, totalling USD 2.0 billion in Q2 2023. This expansion was a meticulous decision by the company to increase its investment significantly across its international sectors, specifically India, its 2nd largest R&D centre.
“With significant opportunities to become more digital, such as the rollout of 5G, changing regional dynamics and newfound strategic collaborations, telecom vendors have a plethora of options moving forward in 2023.” – Siddanth Ranjan (Research Analyst, Twimbit)
Twimbit clients can read more in the “Global Telecom Vendors Update Q2 2023”
Twimbit is a research and advisory firm driven by a singular mission: to empower businesses making a difference. We specialize in providing invaluable industry intelligence to executives and teams, acting as a catalyst for innovation and growth. Twimbit’s proprietary research platform seeks to revolutionize the way enterprises consume insights, making it effortlessly enjoyable and accessible to all.
More information on Twimbit is available online at www.twimbit.com. Follow news and updates from Twimbit on Twitter and LinkedIn. Members of the media can find additional information in the Twimbit newsroom.
Vansh Sehgal
va***@*****it.com
You must be logged in to post a comment.