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Cash remittances up in 1st half despite June fall amid smaller...

CASH remittances slipped to a two-month low in June due to smaller flows from the Middle East, the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday.

Central bank sticks to outlook of slower inflation by Q4

INFLATION should peak in the next two months before slowing closer to target, the country’s central bank chief said, noting that tax-related price pressures have been “tapering off.”

Megawide profit slips 7% in Q2

MEGAWIDE Construction Corp. reported a seven percent decline in attributable profit for the second quarter of 2018, as the growth of the airport business tempered the slower performance of its construction unit.

Xurpas slumps to loss as revenues fall

XURPAS, INC. slumped to a net loss in the second quarter, as its revenues from its mobile consumer services business continued to fall.

Recreating heroes’ favorite dishes for a special menu

WHO WANTS to try Dr. Jose Rizal’s “most favorite” dish, bistek? Or perhaps, taste Melchora Aquino’s tinolang manok na tagalog?

Sacre bleu! Blue wine makes a splash in southern France

SETE, FRANCE — A glass of blue, sir? It is a question that may dismay purist wine makers in France, where wine is a way of life rather than simply a drink, but in the southern town of Sete consumers cannot get enough.

Insurance industry posts premium growth in first half

THE INSURANCE INDUSTRY booked a double-digit increase in the first half as all sectors posted robust growth, the Insurance Commission (IC) said on Wednesday.

Allianz PNB Life Insurance to craft more products for millennials

ALLIANZ PNB Life Insurance, Inc. is gearing up to attract more young Filipinos to get protected as it launched an insurance product designed for millennials.

Podcasts take growing role in shifting media landscape

NEW YORK — As radio fades in the new world of digital media, podcasting has become hot.

GOCC dividends at P32.03B in Jan.-July, exceeding P27.3B in 2017

GOVERNMENT-OWNED and Controlled Corporations (GOCCs) have remitted a total of P32.03 billion this year to the National Government, the Department of Finance said in a briefer on Wednesday, Aug. 15, marking 2018 GOCC Day.

MMDA says driver-only EDSA ban to continue as Senate leaders cite...

SENATE LEADERS on Wednesday filed a resolution “strongly urging” the Metro Manila Development Authority (MMDA) and its policy-making authority, the Metro Manila Council (MMC), to recall and suspend the ban on driver-only vehicles in EDSA during rush hours.

DTI threatens to unleash BIR on foreign shipping lines

THE Department of Trade and Industry (DTI) said it will ask the Bureau of Internal Revenues to investigate foreign shipping lines to validate whether they are paying taxes properly on what it called “excessive” cargo charges.

DoF warns against rushing ‘3rd player’ selection pending better regulations

THE FINANCE department has warned against rushing into a decision to select the third major entrant to the telecommunications industry, or “third player,” before the proper regulatory groundwork is laid.

Turkey will put capital rules to the test

TURKEY’S economic and political conniptions have driven a significant sell-off in European bank stocks. This meltdown may illuminate a deeper question about regulation: whether more capital makes banks or the financial system resistant to periodic crises.

‘Greening’ the younger generation

THE recent monsoon rains that we have experienced easily resulted in severe flooding across Metro Manila and its neighboring provinces. Classes were suspended, business operations were interrupted, and the traffic situation was aggravated. While this may be “normal” for us during rainy season, the recent flooding was different as it did not require heavy rains to flood the streets.

National Basketball Association allows one-time exception for players seeing action in...

AFTER its policy on allowing its players to play in international tournaments was taken to task, the National Basketball Association (NBA) decided to grant a “one-time exception” for those seeing action in the 18th Asian Games in Indonesia.

Tennis world to vote on Davis Cup shakedown

LOS ANGELES — The most radical overhaul in the 118-year history of the Davis Cup could be given the green light on Thursday as the tennis world gathers in Florida to vote on sweeping reforms which have divided the sport.

DoF says 7.7% GDP expansion this semester ‘still possible’

A BLISTERING 7.7% gross domestic product (GDP) expansion this semester — needed for the economy to hit the bottom of an official full-year target for 2018 — may still be “possible” on the back of strong capital formation, according to a senior official of the Department of Finance (DoF).

Executive-House budget impasse elevated to Duterte and Arroyo

IT may take a sitting President and a former president-turned Speaker to break the current deadlock between the Executive and the House of Representatives over the P3.757-trillion national spending plan proposed for next year.

Jollibee Q2 income jumps 15% amid expansion

STRONG sales from its fastfood businesses in the Philippines and abroad helped lift Jollibee Foods Corp.’s (JFC) earnings 15% higher in the second quarter.

DMCI profit hits P5 billion in Q2

DMCI Holdings, Inc. registered a net income of P5 billion in the second quarter, up by nearly 39% compared with the P3.6 billion posted a year ago, with most of its business segments performing well except for the power business.

It takes two to dance ballet

IF EXPERIENCE is the best teacher, then prima ballerina Lisa Macuja-Elizalde is a straight A-student. For 32 years she danced lead in 350 full-length ballets and performed in 90 cities on five continents. Retired from dancing since 2017, the A-student took on the role of teacher early in her career, melding both theory and practice in her teaching style. Among her best students is Ballet Manila’s guest principal dancer, Katherine Elizabeth Barkman, who is the only ballet dancer to win back-to-back medals from two of the most prestigious ballet competitions in the world.

HSBC to roll out more digital services for firms

THE HONG KONG and Shanghai Banking Corp. (HSBC) is looking to roll out more mobile services to corporate clients in the Philippines over the coming year, following a jump in its credit card business secured through digital platforms.

Passion and art: Balag at Angud

ONE OF the toughest choices people have to make is choosing between work they love despite that offers little compensation or a job they hate but which pays the big bucks. What would you pick?

EastWest Bank profit drops

EAST WEST Banking Corp. (EastWest Bank) saw its net income inch down in the first half of the year following the suspension of the public school teachers’ salary loan program.

Gordon: Tulfos, PTV4 execs liable for graft

FORMER tourism secretary Wanda T. Tulfo-Teo and her brother Ben T. Tulfo, as well as a number of PTV4 officials may face graft charges in connection with a controversial advertising deal involving the Department of Tourism (DoT), PTV4, and the Tulfo-owned Bitag Media Unlimited, Inc.

Water service interruptions announced

MAYNILAD WATER Services, Inc. will reduce water production because of the increase in turbidity at Ipo Dam resulting in increased sediment concentrations in the raw water it distributes, Metro Manila’s west zone concessionaire said on Tuesday.

Budget dep’t asked to allocate funds to farmers before rice tariffs...

SENATOR Cynthia A. Villar, who chairs the chamber’s Committee on Agriculture and Food, has requested that the Department of Budget and Management allocate additional funds for rice farmers until the rice competitiveness enhancement fund (RCEF) takes effect.

Euro 2 diesel to go back on sale as measure to...

THE Department of Energy (DoE) has directed to oil companies to start selling diesel compliant with the Euro 2 standard, a step backward from previous moves to shift to the newer Euro 4, as an inflation-control measure.

Land transport modernization and the bureaucracy

UNTIL five years ago, the Philippines had the lowest registered vehicles ratio per population in the whole of North and Southeast Asia. It only had 79 registered vehicles per 1,000 population.

The problem with federalism — It’s the politicians, stupid!

IF the structure of the Philippine government is supposed to have been patterned after that of the United States, why wasn’t the federal system of America also applied to the Philippines?

Honda Odyssey 2.4 EX-V Navi: For people seeking per-capita pampering

AS far as per-capita comfort goes, few vehicles come close to Honda’s enduring and endearing Odyssey — the minivan that has been getting people from here to there since 1994. But first, some housekeeping is in order. There are actually two kinds of Odysseys huffing and puffing around the world: a more compact JDM version (which is the one we have here), and a slightly larger one earmarked for the North American market. Our Odyssey “lite” has spanned five generations, the last all-new version unveiled back in 2013 (but our current model has been refreshed); its American sibling’s fifth iteration was released just last year as a 2018 model — 13 inches longer, almost seven inches wider, and 0.8 inch taller than our locally sold Odyssey.

Transformation extreme: Isuzu’s modernized jeepneys roll out in NCR, Western Visayas

THEY aren’t just paint jobs, modifications, or overhauls. They’re complete re-imaginings of a Filipino transport icon.

St. Benilde stops EAC, 84-71

THE College of St. Benilde Blazers got back on the winning track in Season 94 of the National Collegiate Athletic Association on Tuesday after beating erstwhile streaking Emilio Aguinaldo College Generals, 84-71, at the FilOil Flying V Centre in San Juan City.

Some sporting superstars who can light up the Asian Games

JAKARTA — The Asian Games, the world’s second largest multi-sports event, begin this week. Here are five global stars who can shine at the continental showpiece in Jakarta and Palembang, Indonesia.

Lira crisis hits Asia’s currencies as marts run for cover

ASIAN CURRENCIES were battered on Monday with the Indian rupee touching a record low as the ongoing crisis in Turkey spilled over to emerging markets and investors flocked to safe-haven assets.

Budget spat puts in doubt Palace clout in House

OPPOSITION of the House of Representatives majority bloc to the P3.757-trillion proposed 2019 national budget caught Malacañang by surprise, at a time a newly installed leadership has just settled down in the chamber and with preparations for the May mid-term elections next year soon under way.

LTG’s Q2 attributable profit hits P5.3B

LT GROUP, Inc. (LTG) more than doubled its attributable profit during the second quarter of 2018, driven primarily by its banking unit’s sale of acquired properties alongside the stabilization of its tobacco business.

Cebu Landmasters nets P826M in first half

EARNINGS of Cebu Landmasters, Inc. (CLI) jumped by a third during the first six months of 2018, lifted by higher sales from its residential business amid ongoing expansion in the Visayas and Mindanao markets.

The 14th Cinemalaya Film Festival winners

FULL-LENGTH FEATURE • Best Film — Kung Paano Hinihintay ang Dapithapon (Waiting for Sunset)

‘Asian August’ comes to Hollywood, but will it last?

LOS ANGELES — Phil Yu is excited. The Los Angeles-based blogger saw an advance screening months ago of Crazy Rich Asians and now the first Hollywood movie in 25 years with an all-Asian cast is about to arrive in theaters along with two other predominantly Asian films.

Eurotel group pouring more funds to renovate Davao’s Apo View Hotel

DAVAO CITY — Global Comfort Group Corp., the company behind the Eurotel and Icon hotel brands, is injecting more funds until 2019 for the renovation of rooms and the construction of a halal kitchen at the Apo View Hotel.

Concentrix bullish on Philippines, opens new contact center

CONCENTRIX PHILIPPINES is keeping a rosy outlook on its growth in the Philippines, calling the country a “pre-eminent destination for business.”

BSP’s Monetary Board shuts down Rural Bank of Pagbilao’s operations

THE CENTRAL BANK has ordered another provincial bank to shut down its operations, marking the eighth lender to fold this year.

BPI Direct BanKo to have 200 branches by yearend

BPI DIRECT BanKo Inc., the microfinance unit of listed Bank of the Philippine Islands (BPI), is set to hit its target of 200 branches by yearend as it leverages on the branch-lite initiative of the central bank.