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Fitch eases Philippine GDP growth projection

FITCH RATINGS has tempered its growth forecast for the Philippines to match the low end of the government’s projection, in the wake of last semester’s slower expansion and amid rising interest rates.

Gov’t charting return to foreign debt marts

THE GOVERNMENT is now charting the country’s return to the dollar, euro, yuan and yen debt markets, the Finance chief said on Friday last week.

MPTC to invest $20M in Indonesian toll road

THE Metro Pacific Tollways Corp. (MPTC) said it is investing around $20 million for a new project under its Indonesian subsidiary PT Nusantara Infrastructure Tbk.

ABS-CBN forges deal with JKN Global

ABS-CBN Corp. said it signed a deal with Thai content provider JKN Global Media Public Co. Ltd., which will broadcast more Filipino shows in Thailand and Laos.

Back to the ’90s

NEW FACES behind the runway and more meditative fashions took control during the Panasonic Manila Fashion Fest’s ninth season. These are some of the designers who caught BusinessWorld’s eye as we sat front row during the fashion event.

Bank economists flag upside inflation risks

BANK ECONOMISTS expect inflation to remain elevated during the last three months of 2018, with some noting that prices may surge faster by yearend.

Davao summit to roll out apps for farmers, halal

DAVAO CITY -- A mobile application that will help farmers connect directly with buyers will be one of the new technologies that will be introduced during the 2018 LivEx, an innovation summit organized by ICT-Davao, Inc., to be held here on Oct. 22.

Trend Watch

HERE ARE some of the trends to look out for next year, as presented in Manila Fashion Fest’s runway.

Peso to move sideways on mixed leads

THE PESO will likely move sideways against the dollar this week amid mixed economic and political signals abroad.

DA to expand MAV imports of chipping potatoes

THE Department of Agriculture (DA) will implement a unilateral minimum access volume (MAV) on chipping potatoes at 25,000 metric tons (MT) starting Oct. 25 which would bring down tariff rates to 3% from 40% within that volume.

DoF preparing rules to re-impose fuel excise hike

IMPLEMENTING RULES and regulations (IRR) for re-imposing the next P2 fuel excise tax following its planned suspension in 2019 are expected soon.

Senate calls inquiry into fuel excise suspension

SENATOR Sherwin T. Gatchalian has filed a resolution seeking an inquiry into the potential impact of suspending the fuel excise tax on inflation, which hit 6.7% in September.

PPP, tunnels and mining

Two weeks ago, I traveled from Manila to North Luzon by bus. Going up via NLEx, SCTEx, Tarlac, Pangasinan, La Union, Ilocos Sur, Ilocos Norte, finally to Gonzaga, Cagayan. I went there to visit a friend, also gave a talk on TRAIN law and inflation at Cagayan State University (CSU) Gonzaga campus. Going back I took the Cagayan Valley route, passed Isabela, Nueva Vizcaya, Nueva Ecija, SCTEx, NLEx.

Capitalism and inclusion under weak institutions

One could not have thought of a better title for the latest book of UP Economics Professor, former Dean and National Scientist Raul Fabella, a deceptively slim volume (120 pages) but a real heavyweight. It has amazing sweep and depth on what ails our economy, and provides possible solutions, cogently pulling together literature and research on what has worked here and elsewhere.

International body to look into ‘persecution’ of two PHL senators

THE INTER-PARLIAMENTARY Union (IPU) wants to send an official mission to the Philippines to look into the alleged “political persecution” of Senators Leila M. De Lima and Antonio F. Trillanes IV.

Lawmaker to ASEAN: Don’t trust China

MAGDALO REP. Gary C. Alejano warned that China might not adhere to the air encounter code agreed upon by members of the ASEAN (Association of Southeast Asian Nations).

World Series: Dodgers vs Red Sox

MILWAUKEE -- The Los Angeles Dodgers booked a return trip to the World Series behind steady power and sturdy pitching on Saturday, defeating the Milwaukee Brewers 5-1 in Game 7 of the National League Championship Series (NLCS).

NU Bulldogs stop UST Tigers’ charge, 69-61

THE National University Bulldogs put an end to the impressive winning run of the University of Santo Tomas Growling Tigers in UAAP Season 81 after beating the latter, 69-61, in league action on Sunday at the FilOil Flying V Centre in San Juan City.

Inflation may fall below 4% in 2019 — BSP

INFLATION could “revert more quickly” to below four percent next year given non-monetary interventions to boost food supply coupled with sound policy actions from the Bangko Sentral ng Pilipinas (BSP), a senior official said.

PHL economy seen resilient amid global volatility

THE Philippine economy should remain resilient despite current volatilities bogging down global markets, although experts noted that a faster infrastructure rollout plus a kinder regime for foreign investments would add to the country’s luster.

De Lima seeks Senate probe into Michael Yang’s alleged appointment

SENATOR Leila M. de Lima wants a Senate committee to look into the appointment of foreign nationals in public office after Chinese national Michael Yang identified himself as the President’s economic adviser.

PHL, China hold ‘productive’ talks on South China Sea — DFA

THE Philippines and the People’s Republic of China on Thursday tackled steps to enhance maritime cooperation in the disputed South China Sea (SCS) waters, especially in the areas of “search and rescue, safety, environmental protection, scientific research, and fisheries.”

State-run firms’ dividends reach P34B at end-September

DIVIDENDS from state-run firms reached P34.15 billion as of September and appear headed for a fresh banner year, the Department of Finance (DoF) said on Friday.

SRA reports 18% drop in sugar prices

THE Sugar Regulatory Administration (SRA) said on Friday the farm-gate price of sugar fell 18% this month to P1,634.58 per 50 kilograms from P2,003.60 in July.

Cavite barge terminal to begin full operations in November

THE Cavite barge terminal, privately funded by International Container Terminal Services Inc. (ICTSI), is set to begin full operations next month, the Department of Transportation (DoTr) said on Friday.

Peso recovers to log fresh one-month high

THE PESO recovered on Friday to its strongest rate in over a month, supported by cues for succeeding rate hikes from the central bank coupled with big fund inflows.

China Bank raises $150M via maiden green bond issue

CHINA Banking Corp. (China Bank) has issued $150 million in green bonds to fund climate change mitigation projects.

LTFRB OK’s bus, jeepney fare hikes

THE LAND TRANSPORTATION Franchising and Regulatory Board (LTFRB) on Thursday approved fare increases for public utility vehicles (PUV), prompting the country’s biggest labor group to press for a wage hike for Metro Manila’s private sector workers at a time of successive multiyear-high monthly inflation rates.

Government, business exchange notes on dev’t imperatives

THE GOVERNMENT on Thursday renewed its call on private businesses to deepen their participation in infrastructure and technology projects.

Petron planning new refinery in Bataan

PETRON CORP. is planning to add a new petroleum refinery in Bataan that will boost its capacity by 100,000 barrels daily.

SMHC to pay for right-of-way acquisition, permits for airport

SAN MIGUEL Holdings Corp. (SMHC) has committed to shouldering the costs for right-of-way acquisition and local government permits for its proposed New Manila International Airport in Bulacan in order to secure the go signal from the Department of Transportation (DoTr).

BPO industry association expands availability of career portal

THE Information Technology and Business Process Association of the Philippines (IBPAP) said it will expand the availability of its career portal next month after initially offering the program to candidates in the provinces.

Breast Cancer Facts

• THE PHILIPPINES is at the center of the battle against breast cancer. Several reports show that the country has the highest incidence rate in Asia and is among the top 10 countries with the most cases of breast cancer. The disease is so common that one of every 13 Filipino women are expected to develop breast cancer in her lifetime.

GE to pay penalty if it falls short of French job...

PARIS -- General Electric’s new CEO told France’s finance minister on Wednesday that it would stick to his predecessor’s French job pledges or pay a penalty, the Finance Ministry said.

COD opens Garage: a VR zone and food park in one

WHAT WAS formerly a car park located inside the 6.2-acre City of Dreams Manila (COD) is now Southeast Asia’s first VR (virtual reality) zone-cum-food park. The integrated resort and casino property recently opened the Garage, featuring 10 food outlets and four VR attractions ensconced in a 2,714-square meter space.

IC sets rules for web aggregators

THE Insurance Commission (IC) has set new rules for the regulation and supervision of insurance web aggregators.

Ethics: Black, White (or Gray)?

IN celebration of the Golden Jubilee Year of Financial Executives Institute of the Philippines, FINEX launched an ethics book entitled Ethics: Black White (or Gray)? which gathered essays and actual cases from 50 well-known personalities from the government, banking and private sectors.

BoI-registered investments rise 19% in first 9 months

PROPOSED projects registered with the Board of Investments (BoI) were up 19% in the first nine months, led by energy projects, Trade Secretary and BoI Chairman Ramon M. Lopez said in a statement on Thursday.

Suspension of fuel excise hike still on, but doubts creep in

THE GOVERNMENT will continue with its plan to suspend the scheduled increase in the fuel excise tax in 2019, the Department of Finance (DoF) said, although volatility in the oil futures market is strengthening the hand of officials who want the tax increase to go ahead.

The passing of elite democracy

The filing of certificates of candidacy (COCs) by those running for the Senate ended two days ago on Oct. 17. As usual, the media focused their attention on high-profile and so-called “nuisance candidates.” But they failed to mention that the outcome of the May 2019 elections, particularly for the House of Representatives and the Senate, will be crucial to the survival of this rumored democracy.

Kavanaugh and the welcome death of the ‘living constitution’

For progressives, Brett Kavanaugh’s true alleged sin is not sexual assault. Rather, were they sincere, his crime is actually much much more horrible: Kavanaugh is a lawyer who believes and upholds the textualist and originalist schools of constitutional interpretation.

Still no order on DoJ’s motion for senator’s arrest

THERE’S STILL no order form Makati Regional Trial Court (RTC) Branch 148 on the Department of Justice’s (DoJ) motion to issue an arrest warrant and hold departure order (HDO) against Sen. Antonio F. Trillanes IV.

Senate bill seeks to fine nuisance candidates

SENATOR SHERWIN T. Gatchalian wants nuisance candidates to be penalized under his proposed measure which seeks amendments to Batas Pambansa Bilang 881 or the Omnibus Election Code.

Kershaw’s strong outing lifts Dodgers to 3-2 NLCS lead

LOS ANGELES -- Clayton Kershaw used an old-school approach Wednesday as the Los Angeles Dodgers dispatched the new-age Milwaukee Brewers to move one victory away from their second consecutive World Series appearance.

ROS Elasto Painters gun for third consecutive win

ERSTWHILE struggling Rain or Shine Elasto Painters return to Philippine Basketball Association Governors’ Cup action today, battling the Columbian Dyip with the hopes of extending their resurgence that has seen them win back-to-back games.