News

India is preparing to launch a moon mission that could solidify its position as a space power. The mission, called Chandrayaan-3, will attempt to land a rover on the unexplored lunar south pole. The launch is a sign of India's growing ambitions in space and could have a positive impact on the Indian economy.

The Comprehensive Automotive Resurgence Strategy (CARS) program has been a lifeline for the Philippine automotive industry. The program has helped to create 100,000 jobs and increase the localization rate of car manufacturing to 40%. The government is currently considering extending the program for another five years, but there are a number of factors to consider, such as the state of the automotive industry, the availability of funding, and the potential impact on the environment.

Megaworld Corporation, a leading real estate developer in the Philippines, has opened the Township Analytics and Technology Lab (TAT Lab) in Taguig City. The lab uses data science and AI to enhance safety, sustainability, resident experience, and business optimization in Megaworld townships. This initiative reflects Megaworld's commitment to becoming a more data-driven company and sets a precedent for other real estate developers. Data science and AI offer benefits like improved decision-making, increased efficiency, and enhanced customer service in the industry.
 

Japan's JSR Corporation has agreed to acquire a majority stake in Dutch photoresist manufacturer ASMI Holding for $6.3 billion. The deal will give JSR a strong foothold in the lithography market and access to ASMI's cutting-edge technology. The acquisition is seen as a way for JSR to secure its supply chain and meet the growing demand for semiconductors.

The Design Automation Conference (DAC) 2023 and Semicon West recently concluded, bringing together top minds from the semiconductor industry to explore the latest trends and challenges. Cybersecurity was a key focus of both conferences, as the complexity and interconnectivity of automotive electronics and autonomous vehicles grow, so does the risk of cyberattacks. CISOs from major players emphasized the importance of collective efforts in sharing information and devising cybersecurity protocols as a unified community.

The Department of Trade and Industry (DTI) expects the continued growth of electronics exports in the Philippines. In May, the value of electronics exports increased by 6.7% compared to the previous year, driven by global demand for semiconductors and electronic components. The Philippines' strong manufacturing sector contributes to this growth. Trade Secretary Alfredo Pascual is optimistic about sustained growth and aims to attract more foreign investment in the electronics manufacturing sector. Electronics exports accounted for 57.5% of the country's total exports in 2022 and employ over 1 million people. Factors such as the global economy's growth, increasing demand for electronic products, competitive labor costs, and strategic location further support sustained growth. The DTI is confident in the industry's future and is working to foster an investment-friendly environment.

The call center industry in the Philippines has been a crucial source of employment and economic growth. However, the advent of AI poses a challenge to the traditional call center model. AI-powered solutions can handle customer interactions more efficiently and cost-effectively. There are concerns about job displacement, but it's important to note that AI is meant to augment human capabilities, not replace them. Call center workers possess unique skills like empathy and critical thinking that AI lacks. Upskilling and reskilling initiatives can help workers adapt to new roles that complement AI systems. By leveraging AI as a tool and focusing on specialized tasks, call center workers can remain competitive. The Philippines has the opportunity to navigate this "tech tsunami" and ensure a valuable call center workforce in an AI-driven future.

Broadcom, a global technology leader, has received approval from the European Commission (EU) to acquire VMware, a leading enterprise software innovator. The proposed acquisition, valued at $61 billion, marks Broadcom's largest endeavor to date and is poised to enrich the chipmaker's range of infrastructure and management software offerings.

The National Highway Traffic Safety Administration (NHTSA) is considering whether to allow General Motors to deploy its Cruise Origin automated people carriers without human-operated steering wheels and brakes. A decision by NHTSA to grant GM's waiver would be a major victory for the self-driving car industry, and it would pave the way for other companies to deploy their own AVs.

Malaysia is open for business! Prime Minister Anwar Ibrahim is meeting with Tesla CEO Elon Musk to discuss the possibility of further investment in the Southeast Asian nation. There are several promising investment opportunities in Malaysia, including electric vehicles, renewable energy, technology, and infrastructure. The meeting between Anwar and Musk is a positive sign for Malaysia's economy and a sign that the country is open for business.