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Monthly Archives: September 2018

Veep joins Itogon relief efforts

VICE-PRESIDENT Maria Leonor G. Robredo on Friday visited tragedy-stricken Itogon, Benguet to provide livelihood assistance.

PNB to absorb thrift bank unit PNB Savings

PHILIPPINE National Bank (PNB) said it will consolidate its thrift unit within its commercial bank operation, widening its exposure to retail and small business clients.

UnionBank raises P10 billion from rights offer

UNIONBANK of the Philippines, Inc. said it completed a rights offer, raising P10 billion from shares issued at P62.97, against today’s closing price of P67.

RCBC raises P3.58-B from LTNCD issue

RIZAL Commercial Banking Corp. (RCBC) has raised P3.58 billion from the first tranche of its P20-billion long-term negotiable certificates of deposit (LTNCD) program bolstering its long-term funding base.

SSS extends loan relief for members in calamity areas

THE Social Security System (SSS) said Friday that it has extended its Loan Restructuring Program (LRP) with penalties condoned for another six months, to provide relief to members living in areas affected by recent calamities.

House Islamic banking bill clears committee

A BILL authorizing the Bangko Sentral ng Pilipinas (BSP) to regulate Islamic Banks cleared two House committees, putting the country on track to harmonize rules for the banking segment with oher countries in the region.
peso remittance

Peso stronger after 50-bp BSP rate hike

THE peso strengthened further on Friday even amid a dollar recovery following monetary policy tightening by the Bangko Sentral ng Pilipinas (BSP) and Federal Reserve.
PSE BGC board

PSE index continues to slide

THE Philippine stock market ended the quarter in the red, as the month-end’s window dressing failed to stem the market’s continued slide.

Five startups to power your small enterprise

Highlights from IBPAP’s latest batch of biztech startups.

PLDT signs new deal to power IT operations with AI

By Anna Gabriela A. Mogato PLDT, Inc. has signed a new contract with American software and services provider Amdocs to improve its IT infrastructure. In a disclosure...

Bitcoin runs on paranoia, and that’s the beauty of it: Elaine Ou

By Bloomberg Traditionally, the only sort of financial system that works at scale is one decided by courts and enforced by threat of violence. Even back...

Cannabis-laced drinks could be a $600 million market in U.S. by 2022

By Bloomberg Drinks infused with marijuana-derived compounds could swell to become a $600 million market in the U.S. within the next four years, outpacing the growth...

World’s smallest heart pump fuels red-hot medtech stock

By Bloomberg It may be hard to justify buying a company that nearly tripled over the past 12 months, but then there’s Abiomed Inc. With annual sales...

Tariffs start to drag on U.S. economy as trade deficit widens

By Bloomberg Fresh data on the U.S. economy show President Donald Trump’s escalating trade war is shaping up as a clear drag on growth this quarter. The...

Facebook bets on ‘Stories.’ What if they’re a fad?: Shira Ovide

By Bloomberg In this cloudy year for Facebook Inc., it’s crystal clear that the company is smashing the gas pedal all the way down for “stories,”...

Remembering Roberto Kuan, an exemplary businessman

Amidst the gloomy weather last Sept. 15, businessman Roberto Fung Kuan, the founder of Chinese fast food chain Chowking Food Corp., found his resting place and...

Riding the waves of change

The Philippine legal industry is continuously evolving amid various social, political, economic and technological changes. A democratic state like the Philippines is bound by laws...

The importance of lawyers in the pursuit of development

To say that global development is a challenging affair is quite an understatement. The pursuit of it is so complex and so vast in...

BSP hikes rates 50bp, inflation outlook

THE BANGKO SENTRAL ng Pilipinas (BSP) fired off another strong policy action yesterday, bringing interest rates to a nine-year high as the central bank sought to temper surging prices and lend support to the peso.
peso bills

Dirty money watchdog sets new requirement

THE Anti-Money Laundering Council (AMLC) now requires banks, casinos and other covered businesses to digitize customer records to fast-track reporting and facilitate monitoring.

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ASEAN disclosure index 2018

THE PHILIPPINES got an average score though it placed second-lowest in the latest ASEAN Disclosure Index of business advisory firm FTI Consulting, Inc. which...

PHL ‘average’ in disclosure practice

THE PHILIPPINES got an average score though it placed second-lowest in the latest ASEAN Disclosure Index of business advisory firm FTI Consulting, Inc. which monitors corporate disclosure practices.

Fluid: Author-actor-activist Nico Tortorella talks about freedom

By Nickky Faustine P. De Guzman, Reporter AUTHOR, activist, and actor Nico Tortorella lay down nonchalantly on one of the long sofas at the Raffles...

A model school

IT WAS A FRIDAY — the final school day of the week for students. As usual, the day began with a flag ceremony at 7:15 a.m., then regular classes proceeded as scheduled. But unlike other senior high schools, the students of the Benilde Deaf School have a Filipino sign language class at 12:45 p.m. — the second session for the week.

AboitizPower to acquire stake in Ayala thermal assets for $579M

ABOITIZ POWER Corp. has agreed to acquire a stake in the thermal power company of Ayala-led AC Energy, Inc. for $579.2 million, the two companies said on Thursday.

Jollibee to introduce Panda Express in PHL

HOMEGROWN FOOD giant Jollibee Foods Corp. (JFC) is teaming up with Chinese-American restaurant operator Panda Restaurant Group, Inc. (Panda) for the introduction of Panda Express restaurants in the country.

Philippine inventor aims to cut travel time with passenger drone

BATANGAS, PHILIPPINES — A Philippine inventor has unveiled what he calls a flying sports car that represents the future of transport, riding it out of a warehouse towards a cheering crowd, leaving a cloud of dust in his wake.

Lockheed Martin makes sales pitch for F-16s, Black Hawks in PHL

US DEFENSE contractor Lockheed Martin is banking on the versatility of its third generation Black Hawks to convince Philippine President Rodrigo R. Duterte to change his mind, after announcing he rejected an offer from the United States government to procure F-16 fighter jets.

Dancing queen: Abba-period Cher has a new army of devotees

LOS ANGELES — Cher has a stately air as she receives a steady line of journalists in a West Hollywood hotel room with the studied equanimity of Catherine the Great addressing her subjects at the Winter Palace.
wage protest

Four regions to issue wage orders in October

FOUR REGIONS are expected to issue new wage adjustment orders covering the daily minimum wage for private sector workers next month.

DFA backs partial lifting of OFWs ban to Micronesia

THE LABOR department said the foreign affairs department has recommended the partial lifting of a deployment ban on Overseas Filipino Workers (OFWs) to the Federated States of Micronesia.
telcom tower BMI

Companies question draft MC on common tower policy

SEVERAL STAKEHOLDERS raised concern over the proposed memorandum circular (MC) of the Department of Information and Communications Technology (DICT) and the National Telecommunications Commission (NTC) on common telecommunications infrastructure, particularly a provision that limited to two the initial number of tower companies allowed to operate.

Larawan, Changing Partners, 7 Sundays are the top nominees in Saturday’s Luna Awards

THE musical dramas Ang Larawan by Loy Arcenas and Changing Partners by Dan Villegas, along with Cathy Garcia-Molina’s Seven Sundays lead this year’s Luna Awards nominees with 10 nods each including the top prizes — Best Picture, Best Director, and Best Screenplay, as well as a slew of technical prizes.
Alan Peter S. Cayetano

PHL backs global deal on orderly migration

THE PHILIPPINES on Wednesday reaffirmed its commitment to an international agreement that seeks to provide better treatment and protection of migrants around the world, including the 10 million Overseas Filipino Workers (OFWs).

Ethanol producers seek gov’t go signal to import molasses

LOCAL ETHANOL producers are asking the government to let them import molasses, the feedstock used to make their finished product, instead of allowing oil companies to continue bringing in imported ethanol.

The Rocker and the Prince

KOREAN POP fans know Jung Joon Young as the wacky yet competitive member of the reality-variety show, 2 Days 1 Night (2D1N). Every Sunday evening, he — along with five other regular cast members — entertains audiences worldwide with various challenges as the show also showcases suburban Korea.
The Killing of a Sacred Deer

Family plot

WITH all the horror films that popped out last year (and continue to emerge this year) few if any come close to being as bizarre as Yorgos Lanthimos’ The Killing of a Sacred Deer.

GrabPay to expand PHL mobile wallet services

GRAB PHILIPPINES (MyTaxi.PH, Inc.) is set to expand its GrabPay mobile wallet services here after it obtained central bank approval, a top official said on Thursday.

Oil versus rice

LIKE the proverbial oil and water, oil and rice shouldn’t mix as it will spell disaster. Increasing prices of oil and rice in the world and local markets, respectively, have hit the Philippines hard which caused the prices of goods to climb.
Victoria Herrera, Iza Calzado, & Eleanor Pinugu

Healing conversations on body love

From personal issues to topics many still consider taboo -- heart to heart conversations may go beyond a circle of friends.

Your Weekend Guide (September 28, 2018)

THE SANDBOX Collective and 9 Works Theatrical present the Philippine debut of Lungs, a play by Duncan Macmillan, until Oct. 7 at the Power MAC Center Spotlight, Circuit Makati.

What to see this week

7 films to see on the week of September 28-October 5, 2018 Peppermint THE ACTION THRILLER centers on Riley North, a young mother who wakes up...

Tycoon Okada urges PSE to investigate Asiabest over ‘misleading’ disclosures

JAPANESE GAMING tycoon Kazuo Okada reiterated his request for the Philippine Stock Exchange (PSE) to investigate Asiabest Group International, Inc. (ABG) for its allegedly misleading disclosures on its share purchase agreement with Tiger Resort Asia Ltd. (Tiger Asia).

52 years later, a classic gets a sequel

CAEN, FRANCE — French director Claude Lelouch has started shooting a sequel to his classic romance A Man and a Woman with the same actors, 52 years after the original was a box office smash.

Lying about your job title

I’m a manager at a major corporation planning to run for president of an industry association. Before I do so, I would like to ask the top management to allow me to use the title of ‘vice president’ to help me win votes. That’s because all current and past presidents of our association have been VPs at least. Of course, I’m not expecting any salary increase, but only the privilege of using a VP title at least for purposes of winning votes. If I win, my position will redound to the benefit of my company which is a manufacturer of consumer products. What do you think? (Itals end) -- Red Buddha.