The K-Startup Grand Challenge (KSGC), South Korea’s largest accelerator program, has opened applications for its 2023 edition. Overseen by the Ministry of SMEs and Startups and organized by the National IT Industry Promotion Agency, KSGC is accepting startup applications from April 10 to May 18, 2023. The program aims to assist foreign startups looking to enter the Korean market and explore business opportunities in Asia. The 2023 edition of the accelerator, running from July 25 to November 10, will focus on deep tech startups. Lim Jungwook, Deputy Minister of the Ministry of SMEs and Startups said, “It is a great…
Author: Business News Asia
Business News Asia
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With just a few days before the SIM registration deadline, Globe sent out urgent reminders to customers through the Emergency Cell Broadcast system. This was done to instill urgency on millions of customers who have yet to register their SIMs. Globe utilized the ECB as a component of network management and implemented the emergency blast within acceptable parameters. The National Disaster Risk Reduction and Management Council (NDRRMC) has given no objections on the use of ECB after prior notice. The Free Mobile Disaster Alerts Act allows the NDRRMC and other relevant government agencies to use the telco network system to…
Axis Bank and HDFC Bank have entered into a definitive agreement to invest up to Rs 69.90 crore in Go Digit Life in two tranches. The banks will acquire a 9.94% stake in Go Digit Life for Rs 10 per share. The first tranche of Rs 10.93 crore will be paid by the banks, and they may invest an additional Rs 58.97 crore in the second tranche. The acquisition is expected to be completed within three to six months from the execution date. Go Digit Life intends to operate in the life insurance sector in India, subject to receiving a…
Digital solutions platform Globe and its portfolio companies won an impressive 11 awards across various categories at the prestigious 2023 Asia-Pacific Stevie® Awards. These accolades highlight the Globe Group’s remarkable achievements in delivering exceptional customer service, crafting innovative products, and producing high-quality content. Among the most distinguished awards earned by the Globe Group is the Gold Stevie® for Innovation in Customer Service Management, Planning and Practice in the Telecommunications Industries category. This honor acknowledges Globe’s proactive recovery efforts in the wake of the devastation brought by Typhoon Odette in December 2021. Globe’s post-disaster communication solutions have had a significant positive…
New research from Information Services Group (ISG) has revealed that global spending on IT and business process outsourcing (BPO) services fell by 8% in the first quarter of 2023. The data showed that spending on cloud-based as-a-service offerings during the period was particularly impacted, with a drop of 13% from the same period in 2022. In contrast, traditional IT services or managed services increased by 1%. The report highlighted that there were 703 managed services contracts signed during Q1, with eight deals worth over $100m per year and 237 restructured contracts worth a record $4bn. ISG President Steve Hall explained…
Globe’s wholly-owned corporate venture builder 917Ventures has launched Housify, a revolutionary real estate marketplace that instantly matches property buyers with trusted listings through verified sellers, a seamless inquiry process, and an easy-to-use website. “We aim to make the property buying experience hassle-free for Filipinos and provide an avenue where buyers can conveniently search for properties that match their preferences and budget. We offer both brokers and buyers a high level of service, and those looking to invest in property will have peace of mind as we are the only Philippine marketplace with a roster of vetted sellers,” said Ina Gervacio,…
The Asticom Group of Companies, a shared services provider under the Globe Group, announces the appointment of seasoned technology expert Froilan Rabatan as the new Managing Director of its digital business solutions arm HCX Technology Partners effective March 2023. With a wealth of expertise and experience in technology and innovation, Rabatan is set to propel HCX towards its ambitious goal of becoming the preferred technology partner in the Philippine market. Rabatan’s impressive career spans over two decades in the IT and services industries. He has held key positions such as Managing Director of a global professional services company and VP…
Digital solutions platform Globe will deploy G-Climate, a digital service used to reduce the downtime of cell sites and ensure business continuity during times of disaster, especially typhoons. Globe collaborated with Amazon Web Services (AWS) to develop G-Climate, a cloud native service, which uses predictive analytics on various data points such as weather information, weather patterns, and cell site outage data to identify potential outages specifically during the typhoon season. G-Climate was developed to address the impact of severe weather disturbances, which roughly causes 10 to 20 percent of outages at Globe’s cell sites. This innovation is in line with…
According to a recent survey conducted by Bain, as engineering and R&D organizations look to innovate more quickly amid a talent shortage, many are opting to outsource and offshore a higher proportion of work that was once done in-house. More than 60% of the senior engineering executives surveyed plan to increase their outsourcing of engineering and R&D activities over the next three years, while 60% plan to shift work offshore or nearshore in the same period. Historically, large engineering or research-dependent companies have outsourced about 18% of ER&D work by value. That level is far lower than that in the…
ChopValue, a company focused on sustainable production through the transformation of recycled materials, has accomplished two noteworthy milestones. The first is the closing of a funding round that secured $7.7 million, which the company will use to expand its decentralised Microfactory network. The second milestone is the transformation of the company’s 100 millionth chopstick into new products. ChopValue’s presence in the market signals a significant shift in the conversation about reducing carbon emissions, as it is the first circular economy franchise in Singapore. Since its inception in 2016, ChopValue has expanded rapidly, creating more than 150 jobs across six countries…
Globe’s 917Ventures and Ayala Corporation are set to bring global two-wheel electric vehicle and battery-swapping technology leader Gogoro to the Philippines. Piloting in Metro Manila in Q1 2023, Gogoro’s Smartscooters will serve as an eco-friendly alternative to fossil fuel-powered vehicles currently used by the logistics and last-mile delivery industry. Gogoro® Smartscooters® are powered by Gogoro’s® battery swapping platform through conveniently located swap stations, where users can quickly swap depleted batteries for fully-charged ones in seconds. Vince Yamat, 917Ventures Managing Director, said the partnership seeks to reduce the use of fossil fuel by the country’s logistics industry which are known to…
Grand Hyatt Erawan Bangkok invites you to unveil the festive season in ‘Grand’ style, presenting a series of seasonal celebrations all December long. All against the nostalgic backdrop of grandest decorations and displays you will remember for years to come, the hotel ensures a holiday season with full festivities – from exquisite dining at signature restaurants, sophisticated events, and joyous gatherings; to enchanting gift and holiday treats. On offer at the city’s best-loved The Dining Room is a true feast of festive dining. Whether on Christmas Eve, Christmas Day, New Year’s Eve, or New Year’s Day, diners joining The Dining…
The Philippines, a country located along the typhoon belt, is no stranger to experiencing the impact of climate-related hazards. In the WorldRiskIndex 2022 report, the country was reported to have the highest disaster risk among 193 countries. In the face of these challenges, Globe strives to build resilient network infrastructure that can withstand the impact of stronger and more frequent weather disturbances and other natural disasters. This is enclosed in the Globe Business Continuity Management Policy which stipulates the company’s commitment to provide continuity of critical operations that support delivery of key products and services, among others. Globe’s head for…
On 22 November, Embassy of Japan in the Philippines Deputy Chief of Mission, MATSUDA Kenichi joined the historic courtesy visit of United States Vice President Kamala Harris to the BRP TERESA MAGBANUA (MRRV-9701) stationed in Puerto Princesa City, Palawan. One of the largest patrol vessels of the Philippine Coast Guard, the Japan-made BRP TERESA MAGBANUA was chosen to welcome the US Vice President. This visit marks a milestone for U.S.-Philippines-Japan cooperation. Maritime cooperations like this are crucial for a Free and Open Indo-Pacific (FOIP). Japan looks forward to further promoting collaboration among the three countries.
Converge Co-Founder and CEO Dennis Anthony Uy was hailed as the Entrepreneur of the Year and Master Entrepreneur at the prestigious Entrepreneur of the Year Philippines (EOYP) 2022 Awards held Monday night for his pivotal role in bringing digital connectivity to more Filipinos across the country. The EOYP Awards is organized by EY Philippines through the SGV Foundation. “It is my distinct honor to receive this top entrepreneur award. We believe, at Converge, that digital access is not a privilege of a few but a right of everyone. Thank you for recognizing our mission and what we’ve been doing to…
Leading VisMin Developer Cebu Landmasters Inc. (CLI) sustained its growth momentum for the first nine months in 2022 resulting in a 43% year-on-year surge in revenues to Php10.96 billion driven by fast economic recovery in the region. Over the same period, normalized net income to parent increased to Php2.2 billion or 34% more year-on-year from nine-month 2021’s Php1.64 billion, the remainder after tax adjustments for the year were factored out. Set to exceed its 2022 growth target, the listed company posted revenue increases across all its market segments, with flagship economic brand Casa Mira registering Php5.03 billion in revenues or…
Converge ICT Solutions Inc., a Philippine-listed fiber internet provider, announced a 30% increase in consolidated revenues during the first nine months of the year to P24.5 billion from the same period last year. The surge in revenue was attributed to the continued expansion in the company’s residential subscriber base and very strong performance from its enterprise segment. This lifted the company’s net income to P6.1 billion during the nine-month period, 17% higher from the same period last year. Supporting the residential subscriber growth is the rollout of fiber ports with Converge deploying more than 411,000 Fiber to the Home (FTTH)…
A consortium of telecommunications companies has signed agreements to invest about $300 million for a submarine cable system in Southeast Asia that aims to boost data capacity in the region and upgrade local capacities. The group is composed of China Telecom Global Limited (CTG) of China, Globe Telecom, Inc. (Globe) and DITO Telecommunity Corporation (DITO) of the Philippines, Singapore Telecommunications Limited (Singtel) of Singapore, and Unified National Networks Sdn Bhd (UNN) of Brunei Darussalam. The planned Asia Link Cable (ALC) will be approximately 6,000 kilometers in length, connecting Hong Kong SAR China and Singapore as its trunk, with branches into…
Globe, the most reliable mobile network in the Philippines, continues to bring many firsts that help make every day better for every Filipino. To showcase the different ways that Globe uplifts lives, the company brought together a series of exciting announcements and previews from its different businesses and partner brands through the Globe Innovation Fest (GIF) 2022. GIF highlights stories and platforms that allow Globe customers to experience compassion as well as life-enhancing experiences, everyday acts of kindness and generosity, and enabling programs to help them grow, learn, and thrive. “Globe is dedicated to improving the lives of Filipinos by…
To envision to be the leading provider of a state-of-the-art tourist boats that would benefit all stakeholder and each member through recreation & modernization with enterprise and reasonable value is the intention of a newly estáblished association. The Cebu Tourist Boat Association formally launches its organization today, October 29, 2022, at the Golden Prince Hotel & Suites. The inauguration of a new organization that is with purpose and a mission, which is to partake in the implementation of the goals of Marina and envisioning the tourism maritime sector in Cebu to level up in accepting and realizing the modernization of…