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Business with a heart

The average annual pay of a chief executive officer (CEO) in the Philippines is P2,200,000. This is in stark contrast to the annual income of around P169,000 that a minimum wage earner in Metro Manila lives on. Globally, companies with the largest CEO-worker pay gaps include Disney at 367:1 and 21st Century Fox at 311:1. On a more positive light, new data reveal that the 20 companies with the lowest CEO-worker pay gaps include Facebook (CEO Mark Zuckerberg) at 37:1 and, topping the list, Berkshire Hathaway (CEO Warren Buffett) at 2:1.

Diphtheria, tetanus, and pertussis

With the exception of clean drinking water, it has been proven that vaccines are the most effective means of reducing and preventing contagious diseases, preventing an estimated 2.5 million deaths each year. Among the deaths prevented are those that may come as a result of diphtheria, tetanus, and pertussis that also afflict children.

Celtics earn emotional win over 76ers

LOS ANGELES -- Gordon Hayward scored 26 points off the bench to lead the visiting Boston Celtics past the Philadelphia 76ers 112-109 on Tuesday in a game full of playoff atmosphere.

NBA superstars go to Charlotte for the All-Star Weekend

IT’S that time of the year where 24 of the brightest NBA stars converge in one arena and put on a show for fans all over the world. The mid-season classic of the NBA, the 2019 All-Star Weekend, will be held in Charlotte this Feb. 16-18 (Manila Time) and Solar Entertainment’s -- Basketball TV & NBA Premium TV -- guarantees that you never miss the action.

DoH sees drop in measles cases by next month

THE DEPARTMENT of Health (DoH) foresees that measles cases will begin to decrease by next month as they further strengthen their vaccination programs in partnership with other government agencies as a response to the outbreak.

Mexican drug dealer sentenced to life in prison by PHL court

A PHILIPPINE court has convicted Mexican Horacio Hernandez Herrera, an alleged member of the notorious Sinaloa drug cartel, for the sale of illegal drugs in 2015.

Peso weakens ahead of US inflation data

THE PESO weakened against the greenback on Wednesday, even as it breached the P51 level intraday, as market players awaited the release of US inflation data.

Infrastructure delay, high interest rates to weigh on capital formation —...

CAPITAL FORMATION will likely hit a snag this year amid higher interest rates and delays in infrastructure projects, which in turn will pull growth below the state’s 7-8% goal.

Hanjin rehab draws interest of three ‘major’ shipbuilders

THREE MAJOR shipbuilders have signaled interest in the rehabilitation of Hanjin Heavy Industries and Construction Philippines, Inc. by asking for meetings on the matter.

DICT to tweak common tower plan

THE Department of Information and Communications Technology (DICT) is looking to fine-tune the shared telco infrastructure initiative.

Resorts World Manila opens travelers lounge

RESORTS World Manila (RWM) has opened a travelers lounge at the Newport Mall, where passengers of Cebu Pacific can check in for their flights departing from Ninoy Aquino International Airport Terminal 3.

Will collectors want it?

FOUR MONTHS ago, Christie’s said it held the first-ever auction of art created by artificial intelligence (AI). The $432,500 sale sparked a controversy among critics over whether it’s really AI-generated if a human was involved in making the portrait.

Bank of Taiwan starts operations in Philippines

THE Bank of Taiwan has started its operations in the Philippines, the central bank said, which comes months after receiving its license from the regulator.

The new Picasso? Meet Ai-Da the robot artist

FALMOUTH, England — Can robots be creative? British gallery owner Aidan Meller hopes to go some way towards answering that question with Ai-Da, who her makers say will be able to draw people from sight with a pencil in her bionic hand.

Russia expects to recover far less from ‘bad bank’ assets —...

MOSCOW — Russia will dramatically cut its estimate of the sum it expects to recover from a “bad bank” set up after the collapse of three major lenders, according to three sources familiar with new calculations being prepared for the central bank.

Singapore delegation inspecting PHL farms

SINGAPORE’s Agriculture and Veterinary Agency (AVA) has begun its 10-day on-site inspection of farms in the Philippines which it might tap to supply the small island republic with vegetables, fruit, hogs, poultry and eggs, agriculture officials said.

DoF expects improved performance in 2020 economic freedom index

THE Department of Finance (DOF) said it expects the country’s Index of Economic Freedom (IEF) performance to improve next year with the implementation of fiscal reforms elevating the Philippine score in various sub-indices.

All hands on deck for voter education

The late controversial politician Ernie Maceda seems to have been right. Any publicity, favorable or unfavorable is good for politicians. The list of leading senatorial candidates in the latest polls affirms this sad reality. Several notorious candidates are ahead of the “good guys.” Ex-detainees on plunder charges Jinggoy Estrada and Bong Revilla are in the likely to win top 12. So, it seems, will Bato dela Rosa of the drug suspect killing sprees. Meanwhile, serious legislators like Bam Aquino and even JV Ejercito are barely making it And Erin Tañada and Gary Alejano are dangling down there. Even Lito Lapid who, last I heard, had not passed a single legislation in all his forgettable senate days is up there among the topnotchers.

On running for senator

How does one win in a senatorial election where 63 candidates are fighting over 12 seats? The advertising geniuses at the watering holes in Makati insist that name recognition is vital. But the harsh reality may be that money, which is also known as “the root of all evil,” is the foundation of Philippine elections. No money. No votes.

Globe Telecom furthers games, Esports program with pro team

IN LINE with its push to do its share in the development of the growing Esports scene in the country, Globe Telecom stepped things up by assembling a professional Esports team.

Chooks 3×3 teams show unity during Vigan-hosted gathering

FIVE DAYS before the first leg of the Chooks-to-Go Pilipinas 3x3 President’s Cup opens its doors, all 12 pioneering teams joined hands to celebrate the staging of the first-of-the-kind league.

New Suzuki Ertiga turns up the (cargo) volume

JUST a week after the Jan. 23 introduction of the second-generation Suzuki Ertiga compact MPV, Suzuki Philippines, Inc. mounted a ride-and-drive activity using the new model.

Audi’s fast wagon RS 4 Avant now sold in PHL

IT made its world debut in September 2017 as a 2018 model, and now, this fourth version of the Audi RS 4 Avant is available in the Philippines. Avant is Audi-speak for its wagon variants while RS designates the high-performance renditions of Audi models. The RS 4 identifies the model generations of the Audi A4 -- including a sedan and a cabriolet -- which were given the high-performance treatment.

Abu Sayyaf suspect arrested in Manila

AN ABU SAYYAF Group (ASG) member wanted for kidnapping and illegal detention was arrested by the police on Sunday morning at Ermita, Manila.

Jee Ick-Joo murder witness ordered freed

A PAMPANGA COURT granted a petition of a police officer who is a state witness in the October 2016 kidnap and murder of South Korean businessman Jee Ick-joo to be released from the restrictive custody of the Philippine National Police (PNP) Anti-Kidnapping Group.

BoI investment pledges nearly double in January

THE BOARD of Investments (BoI) -- the government’s lead investment promotion agency -- kick-started 2019 with nearly double January 2018’s approved committed investments in terms of value, as it targets these pledges to pierce the trillion-peso mark this year.

Philippines’ talent edge slips in index

THE PHILIPPINES led lower-middle-income economies in a 2019 talent competitiveness survey, in which the country nevertheless posted a lower score and rank compared to the previous year.

The Favourite rules BAFTAs with most wins; Roma takes top prize

LONDON — Costume romp The Favourite was the biggest winner at the BAFTAs on Sunday, taking seven awards, but Netflix black and white film Roma picked up the Best Film prize, as well as Director, at Britain’s top movie honors.

Bloomberry units ink P40-B loan deal for Quezon City casino-resort

UNITS of Bloomberry Resorts Corp. have signed a P40-billion loan agreement with several banks to finance the company’s integrated resort and casino project in Quezon City.

Cebu Pacific looks at other hubs for Japan route expansion

NAGOYA — Gokongwei-led Cebu Pacific is looking at launching a direct flight to Japan from Clark, as well as expanding routes from Cebu to address the slot shortage in the Ninoy Aquino International Airport (NAIA).

Gambino’s ‘This is America’ wins big at Grammys

LOS ANGELES — Country artist Kacey Musgraves won album of the year for Golden Hour, while “This is America” by Childish Gambino won both record and song of the year at the 61st Grammy Awards on Sunday in a breakthrough for rap at the most prestigious honors in the music business.

How pineapples inspired the design of RLC’s newest mall

ROBINSONS Land Corp. (RLC) ended 2018 by opening its 51st mall -- the 80,000 square meter Robinsons Place Valencia in Valencia City, Bukidnon, a second-class city with a population of more than 20,000 people.

Architecture festival brings spotlight to Intramuros

AT a time when conventions and events are increasingly being held in the financial districts of Makati and Bonifacio Global City (BGC), this year’s Anthology Architecture and Design Festival is holding its ground in Manila’s walled city, where a group of architects hope to highlight the origins of the country’s cosmopolitan development.

Rediscount loans hit P14.5B in January

BANKS TAPPED the rediscount window of the Bangko Sentral ng Pilipinas (BSP) as the year opened, with the extra cash meant to support import payments and capital spending.

BDO raises P35 billion from fixed-rate peso bonds

BDO UNIBANK, Inc. raised P35 billion from the issuance of fixed-rate peso bonds, which will be used to expand its business.

Japan signals further support for Mindanao peace process

JAPAN will provide additional support to the Mindanao peace process, especially for activities involving the implementation of the Bangsamoro Organic Law.

LANDBANK loans to agribusiness rise 83% in 2018

THE Land Bank of the Philippines (LANDBANK) said lending to agribusiness entities rose 83% in 2018, which supported the rapid expansion of its loan book.

Corporate Governance Paradigm under the Corporation Code of the Philippines

The Corporation Code contains its own set of “corporate governance (CG) principles,” which can be summarized into the following general statements:

Challenges to regional security: Territory and terrorism

The two major issues confronting Southeast Asia today are (a) the dispute between and among claimant states for the control of resources in the South China Sea and (b) the rising threat of armed extremist groups. These two issues are the major stimulus for the military buildup happening in the region today.

Embiid nets 37 as Sixers scorch Lakers

LOS ANGELES -- Joel Embiid scored 37 points and grabbed 14 rebounds to lead the host Philadelphia 76ers to a 143-120 victory Sunday against the Los Angeles Lakers.

Defending champions Petron Blaze Spikers gear up for tough Philippine Superliga...

DEFENDING Philippine Superliga Grand Prix champions Petron Blaze Spikers begin their title defense on Saturday, in a tournament they view as not going to be easy with a very competitive field.

US, Japan commit support for PHL’s fight vs terrorism

THE UNITED STATES has committed over P300 million in “intelligence support” to the Philippines, Malacañang announced on Monday.

DoJ extends deadline for Lapeña’s counter-affidavit

THE DEPARTMENT of Justice (DoJ) on Thursday allowed former Bureau of Customs (BoC) chief and now Technical Education and Skills Development Authority (TESDA) Director-General Isidro S. Lapeña to submit on Feb. 21 his counter-affidavit to the complaint against him in connection with the shabu kept in magnetic lifters that slipped past the BoC during his watch in 2018.

Big banks mark banner year of profits

BIG BANKS posted another banner year in 2018, with profits growing by a tenth at a time of higher borrowing costs and a weaker peso, latest central bank data showed.

Senate panel to push higher tax on tobacco when session resumes

THE SENATE Ways and Means committee will submit for plenary action a measure to raise the excise tax on tobacco products when Congress resumes session in May, even if there will be little time left by then to ensure enactment.