BIZ BUZZ: Bid for ‘A’ rating undeterred by politics

Political instability is typically bad for the economy as it can undermine policymaking and fray investor nerves.

But despite the simmering Marcos-Duterte feud that’s taking over headlines at home and abroad, it is business as usual for the government’s economic team.

A day after global debt watcher S&P Global Ratings had raised its outlook on the Philippine sovereign to “positive” from “stable”—a move that puts the country closer to the coveted “A” credit rating—economic officials of the Marcos administration said they are “undeterred by politics.”

READ: PH nears dream ‘A’ credit rating

“The Philippines is determined to achieve an A rating and the administration is ensuring that the transformation of the economy will not be set back by political challenges,” the economic managers said in a joint statement.

“The Philippine economy has proven time and again its resilience against both domestic and external challenges, whether arising from natural disasters, geopolitical risks, election cycle tensions, global or regional financial crises, supply chain gaps abroad, cybercriminal activities, or other crises,” they added.

Well, that was a nice way of soothing any worries from investors that are watching the ongoing political drama unfold. —Ian Nicolas P. Cigaral

PLDT launches ‘internet’ generator

Broadband services tend to be interrupted during typhoons and when bad actors cut and steal cables that deliver connectivity. It is such a hassle because this prevents us from performing tasks like sending emails for work and paying bills. It can also be frustrating when an episode of your favorite TV series stops loading.

PLDT Inc. wants to eliminate internet downtime with Fiber Always On PLDT Home product, which can be availed as an add-on feature by existing customers for P299 per month.

“If your fiber line gets cut accidentally … you will have instant fiber connection in a few seconds,” PLDT vice president and head of home fixed broadband Viboy Añonuevo said during the product launch on Wednesday in Makati.

The internet modem, under this subscription, is equipped with both fiber connection and LTE technology, allowing wireless connectivity. Should fiber encounter a glitch, the connection will be switched to LTE.

Añonuevo likened it to a power generator that is being switched on to plug the electricity gap during brownouts.

In addition, the PLDT official said that when services go down, the telco would be notified immediately, eliminating the need to reach out to customer service representatives. —Tyrone Jasper C. Piad

Globe in the global stage

Globe Telecom Inc. president and CEO Ernest Cu is set to represent the Philippines at GSMA, a global organization of mobile network operators that pushes initiatives and policies to champion the industry.

This, after the seasoned telco veteran got a seat on the board of the influential network. He will serve from January 2025 to December 2026.

The prestigious board comprises 26 senior leaders from top telcos and smaller independent operators around the globe.

This position will give Cu the opportunity to pitch ideas and programs that can shape the future of mobile technology.

“Building a collaborative environment that supports mobile technology and sustainability is essential for creating long-term, positive impact,” Cu said.

“By promoting digital adoption, we aim to improve lives and stimulate economic growth, particularly in areas lacking connectivity, where access to digital tools can pave the way for new opportunities and empower communities,” he added. —Tyrone Jasper C. Piad