Electrolux Group divests South African water heater business
STOCKHOLM, July 18, 2024 /PRNewswire/ -- Electrolux Group has signed an agreement to divest its water heater business in South Africa under the Kwikot brand for an enterprise value of ZAR 2.4bn (approx. The divestment includes the Kwikot brand and the production facilities for water heaters (geysers) located in Johannesburg, and is part of the previously communicated work to sharpen the Group's strategic focus by divesting non-core assets. The water heater business in South Africa is profitable and the Kwikot brand is well-known in the market. Net sales in 2023 related to this business amounted to approximately ZAR 1.9bn (approx. The information was submitted for publication, through the agency of the contact person set out above, on 18-07-2024 09:00 CET.
Source:Manila Times
July 18, 2024 14:19 UTC
New Senate building costs could still be ‘conservative’, says senator
New Senate building costs could still be ‘conservative’, says senatorMANILA, Philippines — Sen. Alan Cayetano on Thursday said that earlier estimates of the cost of the Senate building could still be conservative, hinting that he has discovered that there are people who are “blatantly lying” about the structure. Binay and Cayetano had butted heads over the costs of the new Senate building, since the former had chaired the Senate Committee on accounts prior to Cayetano. While Cayetano said that conciliation was a good idea, he would rather focus on the new Senate building. According to Cayetano, technical decisions on the new Senate building will be done by August to avoid further delays. The construction of the new Senate building has been delayed for over two years.
Source:Philippine Star
July 18, 2024 14:14 UTC
Work-life balance index: Philippines ranks 59th of 60 countries
Work-life balance index: Philippines ranks 59th of 60 countriesJobseekers fill out forms for work opportunities during the overseas job fair at a mall in Baguio on May 23, 2024. MANILA, Philippines — The Philippines obtained the second worst work-life balance score among 60 countries analyzed in the latest report of a global human resource services firm. The country's capital, Manila, scored 27.46 out of 100 in work-life balance, just above Nigeria's capital Abuja, which earned a score of 16.15 at the bottom of Remote's Global Life-Work Balance Index. Why the Philippines ranks lowDragging down the Philippines' score this year is its relatively few statutory annual leaves granted to employees. Those who enjoy better work-life balance in other countries benefit from a universal government-funded system or a universal public insurance system.
Source:Philippine Star
July 18, 2024 13:51 UTC
Hyundai Mobis Unveils World's First Innovative Airbags for PBVs
With the anticipated commercialization of PBV-based fleet services, the demand for passenger safety technologies in this sector is expected to increase. Hyundai Mobis is the first to apply a wire mechanism to curtain airbags. Moreover, Hyundai Mobis is focusing on the scalability of airbags for PBVs. Hyundai Mobis has outstanding expertise in sensors, sensor fusion in ECUs and software development for safety control. Hyundai Mobis operates its R&D headquarters in Korea, with four technology centers in the United States, Germany, China and India.
Source:Manila Times
July 18, 2024 13:22 UTC
Consumer watchdog apologizes and relabels Nongfu Spring's water
The Consumer Council apologized on Thursday for mislabeling and retested Nongfu Spring's water sample, raising its overall rating. The Consumer Council today clarified the sample, stating that after meeting and having an in-depth exchange with the representatives of Nongfu Spring yesterday (Jul 17), it learned that the product in question is neither "natural mineral water" nor "purified drinking water", but just "drinking water". It also added that the standard adopted by the company is the "National Food Safety Standard Packaged Drinking Water" from the place of production - the mainland. In light of this, the council reclassified the sample into the independent category "natural drinking water" and scored the sample again. The watchdog confirmed that it is within the range of the limit for "drinking water" and is well below the maximum limit, making it safe to drink.
Source:The Standard
July 18, 2024 12:22 UTC
Duterte to DepEd execs: Stay until new secretary removes you
Duterte to DepEd execs: Stay until new secretary removes youMANILA, Philippines — Vice President Sara Duterte instructed officials of the Department of Education to remain in their positions "until the new secretary will remove you." "The day I resigned, I sent [DepEd officials] a message and then invited them for dinner... I told them: '[Undersecretaries] and [assistant secretaries], please stay until the new secretary will remove you," the outgoing DepEd secretary said. "Because otherwise, if everyone leaves... it will be detrimental to the department," Duterte said in a mix of Bisaya and English. The vice president submitted her resignation from all Cabinet positions on June 19, which takes effect on Friday.
Source:Philippine Star
July 17, 2024 21:17 UTC
Comelec chair mulls suing ex-lawmaker over 'Bahamas files'
Comelec chair mulls suing ex-lawmaker over 'Bahamas files'MANILA, Philippines — Commission on Elections (Comelec) Chairman George Garcia announced on Wednesday that he is considering filing a counter-charge of falsification against former Rep. Egay Erice, who accused the poll body official of owning foreign bank accounts and assets. On Monday, Erice presented what he called the “Bahamas files,” which allegedly list 14 bank accounts amounting to P877 million belonging to an unnamed Comelec official and his wife. Erice also mentioned that the unnamed Comelec official received $1 million (approximately P58.3 million) from Miru Systems, the South Korea-based service provider for the 2025 midterm elections. On Tuesday, Erice requested the Supreme Court (SC) to cite the Comelec chair in contempt for his statements regarding the petition Erice filed, which challenges the poll body’s P17.9-billion contract with Miru Systems. The SC has required Erice to comment on Miru’s gag order petition, which aims to prevent the disclosure and discussion of information by third parties.
Source:Philippine Star
July 17, 2024 20:29 UTC
Nadal defeats Borg as Paris buildup gathers momentum
Rafa Nadal marked his return to singles tennis with a 6-3, 6-4 win over Leo Borg, son of Swedish great Bjorn Borg, to reach the last 16 in Bastad as he prepares for the Paris Olympics. Nadal's last singles match was his first-round defeat by Alexander Zverev at the French Open in May. He skipped Wimbledon to prepare for the Olympic tennis tournaments at Roland Garros. "I haven't been playing a lot of tennis," said Nadal, who faces Cameron Norrie today. Nadal, 38, missed most of 2023 with a hip problem and his comeback earlier this year was stalled by a muscle tear.
Source:The Standard
July 17, 2024 19:13 UTC
Duterte on her ‘designated survivor’ remark: ‘Not a joke, bomb threat’
MANILA, Philippines — Vice President Sara Duterte on Wednesday said her self-appointment as “designated survivor” during President Ferdinand Marcos Jr.’s third State of the Nation address was “neither a joke nor a bomb threat.”She, however, refused to clarify what she meant. “It’s not a joke, and it’s not a bomb threat either. READ: A first: Sara to skip Marcos’ Sona, names self ‘designated survivor’Duterte named herself as the designated survivor when she confirmed that she would not be attending Marcos’ Sona on July 22. In the United States, a designated survivor is an official in the presidential line of succession intentionally kept away from gatherings to ensure that someone can assume the presidency in the event of a mass casualty incident. Duterte’s comment drew the ire of some lawmakers and the public alike, with some pointing out that the comment was made “in poor taste.”ADVERTISEMENTREAD: VP Duterte’s ‘designated survivor’ joke ‘poor in taste’ – lawmaker
Source:Philippine Daily Inquirer
July 17, 2024 17:56 UTC
NetEase Cloud Music Partners with Timbaland's Beatclub™ to Revolutionise China's Beat Marketplace
HANGZHOU, China, July 17, 2024 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a leading interactive music streaming service provider in China, today announced that it has entered into a special partnership with Timbaland's Beatclub™ ("Beatclub") to unleash creativity and foster innovation across China's growing music scene. Under the collaboration, hundreds of signature, premium Beatclub beats will be introduced to NetEase Cloud Music's Beatsoul, China's premier beat transaction platform, marking a significant milestone in China's music industry. Aligned with NetEase Cloud Music's emphasis on fostering independent artists, GRAMMY Award-winning producer Timbaland co-founded Beatclub to nurture new music creators. By the end of 2023, NetEase Cloud Music had approximately 149 million cumulative music tracks, securing a wide range of copyright content and enhancing its content ecosystem. Its focus on discovering and promoting emerging musicians has made Cloud Music Inc. a destination of choice for exploring new and independent music among music enthusiasts in China.
Source:Manila Times
July 17, 2024 14:16 UTC
With China's deepening reform practices, what opportunities will arise?
BEIJING, July 17, 2024 /PRNewswire/ -- A news report by China.org.cn on China's deepening reform practices: With China's deepening reform practices, what opportunities will arise? Discussions are being held during the session about further comprehensively deepening reform and advancing Chinese modernization. In the past decade or so, the world has seen evident progress in China's efforts of comprehensively deepening reforms. As a forerunner of China's reform and opening-up, Hainan has gradually built itself into a free-trade harbor. China Mosaichttp://chinamosaic.china.com.cn/index.htmWith China's deepening reform practices, what opportunities will arise?
Source:Manila Times
July 17, 2024 14:16 UTC
Sinch Introduces Sinch AI: Revolutionizing Customer Engagement with Intentional Intelligence
AI has always been central to our vision, and Sinch AI truly represents the next evolution in this journey," said Sean O'Neal, Chief Product Officer at Sinch. Seamlessly integrated throughout the Sinch Customer Communications Cloud, Sinch AI delivers intelligent solutions across all major business functions. No matter what, a business needs to create exceptional conversational experiences, Sinch provides the most advanced solutions. To ensure businesses can confidently use Sinch AI, we are committed to embedding robust AI governance from the onset. They think deeply about the problems we're trying to solve," said Geertina Hamstra, MINDD Conversational AI expert.
Source:Manila Times
July 17, 2024 09:51 UTC
111, Inc. to Participate in Fireside Chat with Water Tower Research on July 18, 2024
These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident" and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as 111's strategic and operational plans, contain forward-looking statements. Forward-looking statements involve inherent risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission.
Source:Manila Times
July 17, 2024 06:40 UTC
Philippines losing P99.52 billion yearly due to POGOs — DOF
Philippines losing P99.52 billion yearly due to POGOs — DOFMANILA, Philippines — The Department of Finance (DOF) doubled down on its stance to ban Philippine Offshore Gaming Operators (POGOs), saying that allowing the gaming hubs to continue operations is costing the country P99.52 billion a year. The estimated total economic benefits of POGOs amount to P166.49 billion annually while the estimated total economic costs amount to P265.74 billion,” Adriano said. The economic benefits comprised both direct and indirect benefits. Indirect economic benefits are economic and fiscal multiplier effects. Meanwhile, the direct economic costs include lost investment opportunities, additional costs of law enforcement and the impact to tourism.
Source:Philippine Star
July 16, 2024 21:49 UTC
Dengue cases up by 19% in first half of 2024
Dengue cases up by 19% in first half of 2024MANILA, Philippines — The Department of Health on Tuesday reported a 19% increase in dengue cases during the first half of the year compared to the same period in 2023. From January to June 29, the DOH said it recorded 90,119 dengue cases, up from the 75,968 cases reported in the same period last year. The DOH also observed a 30% increase in the number of dengue cases after the start of the rainy season. From 6,323 cases reported last May 19 to June 1 (start of the rainy season), 8,246 cases were reported nationwide last June 2 to June 15. The rainy season creates ideal breeding conditions for the dengue-carrying Aedes aegypti mosquito, the health agency explained.
Source:Philippine Star
July 16, 2024 20:26 UTC