Industrial News

The Philippines has issued the implementing rules and regulations for the amendments to the Public Service Act. The Act allows for 100 percent foreign ownership of public services in the country such as railways and airports. The Philippines government issued the implementing rules and regulations to the Public Service Act in late March 2023, which is set to impact foreign ownership of public services in the Philippines. The Public Service Act allows 100 percent foreign ownership of public services in the Philippines. However, the Act was amended in February 2022 to clearly define the difference between public services and public utilities, since [...]

Taiwan-based printed circuit board (PCB) makers have expedited transferring manufacturing away from China, with several establishing new plants or extending current lines in Southeast Asia, particularly Thailand, Malaysia, and Vietnam. Industry insiders pointed out that PCBs do not garner the same welcome as semiconductors, due to wastewater issues and because the PCB industry consumes large quantities of energy and water. Thailand According to Woranath Khemasiri, secretary general of Southeast Asia and India Business Group at PricewaterhouseCoopers (PwC), Thailand has continued to improve its PCB industry manufacturing value chain by providing investment incentives, such as lower manufacturing costs and stable water [...]

Tech consultancy giant Accenture plans to cut 19,000 jobs, or 2.5% of its workforce, and has lowered its annual revenue and profit forecasts, becoming the latest behemoth to trim expenses in the wake of dwindling global economic conditions. The reduction in jobs, over half of which affects individuals in non-billable corporate functions, will be undertaken in the next 18 months, Accenture said in an SEC filing (PDF) Thursday. The company had increased its workforce by 38,000 in the financial year ended February 2023 to serve the increased demand in its services and solutions, it said. “For the second quarter of fiscal 2023, [...]

In my lifetime, I’ve seen two demonstrations of technology that struck me as revolutionary. The first time was in 1980, when I was introduced to a graphical user interface—the forerunner of every modern operating system, including Windows. I sat with the person who had shown me the demo, a brilliant programmer named Charles Simonyi, and we immediately started brainstorming about all the things we could do with such a user-friendly approach to computing. Charles eventually joined Microsoft, Windows became the backbone of Microsoft, and the thinking we did after that demo helped set the company’s agenda for the next 15 [...]

MANILA, Philippines — The Philippine Air Force (PAF) received training facilities from Australia through the Philippines-Australia Enhanced Defense Cooperation Program (EDCP) on Monday. According to a statement from the Department of National Defense on Tuesday, the air force received a close air support part task trainer, a classroom, and a debriefing facility from Australia. Australian Ambassador to the Philippines HK Yu officially turned over the facilities, along with their corresponding documents, on Monday. “With this facility, the PAF will be able to address the technical training opportunities such as the use of simulator and actually flight events,” Defense Acting Undersecretary [...]

By enacting the CHIPS and Science Act in August 2022, policymakers in Washington took a historic step toward attracting investment in semiconductor production and innovation in the U.S. While the new law must still be implemented effectively and efficiently to realize its potential, the CHIPS Act has already sparked private investments in the U.S. that will strengthen the U.S. economy, job creation, and supply chain resilience. From the time the CHIPS Act was introduced in the Spring of 2020 through the months following its enactment, companies in the semiconductor ecosystem announced dozens of projects to increase manufacturing capacity in the U.S. Some [...]

By enacting the CHIPS and Science Act in August 2022, policymakers in Washington took an historic step toward attracting investment in semiconductor production and innovation in the U.S. And while the new law must still be implemented effectively and efficiently to realize its potential, the CHIPS Act has already sparked private investments in the U.S. that will strengthen the U.S. economy, job creation, and supply chain resilience. From the time the CHIPS Act was introduced in the Spring of 2020 through the months following its enactment, companies in the semiconductor ecosystem announced dozens of projects to increase manufacturing capacity in the U.S. [...]

JAPANESE electronics manufacturer MinebeaMitsumi, Inc. is undertaking a P4-billion expansion project in Naga City, Cebu, the Department of Trade and Industry (DTI) said. In a statement on Tuesday, the DTI said that Philippine Trade and Investment Center-Tokyo Commercial Counselor Dita Angara-Mathay reported the company’s expansion proposal. According to Ms. Angara-Mathay, the Japanese firm plans to upgrade the production of optical image stabilizer components used in smartphones. MinebeaMitsumi also operates facilities in Santo Tomas, Batangas; Mariveles, Bataan, and Danao City, Cebu. The DTI said full operations at the expanded operation are expected to begin by March. “The expansion project will require incremental [...]

FLORIDABLANCA, Pampanga — The Philippines on Tuesday received its P6.84-billion Ground Based Air Defense System, and a new medium-lift transport aircraft for the Philippine Air Force. President Ferdinand Marcos Jr. said the acquisition of the new equipment is a testament to the commitment of government to modernize the military. “While we strive to live with peace with others, it is crucial that our Armed Forces would be modernized to be ready for all eventualities,” the military's commander-in-chief said in a speech. “We fortify our capabilities to provide humanitarian assistance in times of calamities and disasters,” he said. “This is a [...]

The retrenchment by the Mactan Export Processing Zone's largest group of companies of a quarter of its workers is 'a portent of worse things to come' says Partido Manggagawa CEBU, Philippines – Five major garment companies at the Mactan Economic Processing Zone (MEPZ) in Lapu-Lapu City announced the lay-off of more than 4,000 workers in a joint statement on Thursday, September 29. Mactan Apparels, Metro Wear, Globalwear Manufacturing, Feeder Apparel Corporation, and Vertex One Apparel Philippines, all belonging to the Sports City group of companies, said the firing involved a quarter of their workforce. “As the world is now on [...]