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Monthly Archives: September 2018

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Peso seen range-bound ahead of inflation data

THE PESO is seen to move sideways against the dollar this week as investors price in geopolitical developments abroad and await the release of local inflation data.

Yields on gov’t securities down on safe-haven bids

EXPECTATIONS of a trade dispute escalating between the world’s two largest economies and the spillover effects of the Turkish lira to emerging markets sent investors into safe-haven buying mode, causing yields on local government securities (GS) to go down last week.

Shares seen to start September on positive note

SHARES are expected to rise in the week ahead, taking cues from the positive finish in August and expectations for listed companies’ plans during last quarter of 2018.

OUTLIER: Jollibee Foods Corp. (JFC)

JOLLIBEE FOODS CORP. (JFC) was one of the most actively traded stock in the local stock exchange last week with analysts pointing to the rebalancing of a global equity index that increased the stock’s weight, as well as expansion and solid sales.

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Davao Agri Trade Expo 2018 hoping to promote foreign technology from Israel, Taiwan, NZ

DAVAO CITY — This year’s Davao Agri Trade Expo (DATE) will bring in farming technology from Israel, Taiwan, and New Zealand to help modernize and boost productivity in Mindanao and the rest of the country.

Urban chic

MICHAEL KORS’ latest line of bags shows three sides of the modern man: urbane sophisticate, casual cool guy, and a straight-up street-smart slicker.

How PSEi member stocks performed — August 31, 2018

Here’s a quick glance at how PSEi stocks fared on Friday, August 31, 2018.

Duterte’s Israel trip seen to boost economic ties

THE PHILIPPINE government is expected to ink up to 15 private sector agreements during President Rodrigo R. Duterte’s official visit to Israel this week, Philippine Ambassador to Israel Nathaniel G. Imperial said.
Emmanuel F. Piñol

Duterte: No ‘serious offense’ to warrant firing Piñol, NFA officials

PRESIDENT RODRIGO R. Duterte on Sunday said he will not fire Agriculture Secretary Emmanuel F. Piñol and the officials of the National Food Authority (NFA) despite shortages of low-cost rice stocks in some regions, saying that “(m)aybe the laws are weak or unenforceable; all we have to do is to improve on those laws, not necessarily fire people.”

Economic manager suggests removing term limits under federal system

AN ECONOMIC MANAGER said the draft federal constitution submitted by the Consultative Committee (ConCom) to Review the 1987 Constitution may “not yet (be) ripe,” as he proposed such changes as removing term limits and streamlining the federated regions.

US says bilateral training with Japan conducted in South China Sea

THE United States and Japan on Friday, Aug. 31, conducted a “bilateral training...while underway in the South China Sea,” the US Navy said in a statement that day.
NFA rice

Rice prices could pull down number of Filipinos satisfied with the way democracy works

THE NUMBER of Filipinos satisfied with the way democracy works under the administration of President Rodrigo R. Duterte has dropped to 78% as of March 2018 from 86% in Sept. 2016, but the average remains the highest among past leaders, a Social Weathers Survey (SWS) study reported.

Ilocos suffers P441M in damage due to intensified monsoon rains

MORE THAN P441 million worth of damages due to weeks of monsoon rains intensified by tropical depressions and storms were reported by the Ilocos Norte Provincial Resiliency Office. The total covers agriculture, fisheries, livestock, and infrastructure.

Single-use trade

THE QUEZON City Environmental Protection and Waste Management Department (EPWMD) launched last Aug. 31 the trading of single-use PET (polyethylene terephthalate) bottles for reusable water containers, which will be undertaken every Friday at the QC Hall material recovery facility.

Socialized housing developers in talks with Mandaue, others LGUs for partnerships

THE ORGANIZATION of Socialized and Economic Housing Developers of the Philippines Inc., (OSHDP) is now in talks with at least 15 local government units (LGUs) for partnerships on building low-cost housing projects.

MinDA: Federalism to foster more culture-responsive economies

THE MINDANAO Development Authority (MinDA) is advocating federalism, saying this form of government would foster localized economic policies that are more culturally responsive.

Davao mayor acknowledges rape cases, says intervention program has been in place

DAVAO CITY Mayor Sara Duterte-Carpio has acknowledged that the city has the highest number of rape cases among major cities in the country, but stressed that the local government and partner agencies have been implementing an intervention program to address the problem.

Nation at a Glance — (09/03/18)

News stories from across the nation. Visit www.bworldonline.com (section: The Nation) to read more national and regional news from the Philippines.

Davao mining-free zone bill hurdles House on 3rd reading

A BILL declaring Davao City a mining-free zone passed unanimously on third and final reading at the House of Representatives.

LNG law being drafted ahead of Malampaya supply crunch

THE Energy department and the Senate energy committee will draft a law covering the natural gas industry in preparation for a “critical” period next year when an integrated liquefied natural gas (LNG) facility should have started construction in preparation for the depletion of the country’s sole domestic source of the fossil fuel.

ADB approves Malolos-Clark rail assistance package

THE ASIAN DEVELOPMENT Bank (ADB) has approved a $2-million technical assistance grant for the 51-kilometer Malolos-Clark railway.

PHL seeking greater SKorea market access for bananas

THE Philippines is considering a preferential trade agreement with South Korea to ease access for its banana exports, or may seek to include provisions for banana exports in the Association of Southeast Asian Nations (ASEAN) free trade agreement.
rice NFA

House bill filed seeking 60-day NFA rice buffer

HOUSE Agriculture and Food Committee Chair Jose T. Panganiban, Jr. has filed a bill proposing to increase the required rice buffer stock of the National Food Authority (NFA) to 60 days from 15 days.
Court of Tax Appeals

CTA rejects Philip Morris refund claim

THE Court of Tax Appeals (CTA) has dismissed a claim by Phillip Morris Philippines Manufacturing, Inc. for a refund worth over P152 million, citing procedural faults like a lapsed filing deadline.

OECD finds improvements in Southeast Asian SME policy framework

THE Organisation for Economic Cooperation and Development (OECD) said it found an improved policy environment for Small and Medium Enterprises (SMEs) in Southeast Asia since its last survey in 2014, particularly in terms of e-commerce access.
Court of Tax Appeals logo

CTA rules against BIR on Hard Rock Cafe deficiency tax

THE Court of Tax Appeals (CTA) has ruled against the Bureau of Internal Revenue (BIR) which assessed Hard Rock Cafe (Makati City) Inc. (HRCM) a deficiency tax charge of over P22 million in 2012.

TRAIN Law: PEZA tax incentives for registered enterprises

THE TRAIN law is expected to make significant changes to the tax incentives of PEZA registered enterprises. With the enactment of the Tax Reform for...

TNT catches a break in battle of striving teams

THE TNT KaTropa caught a break and stopped their losing skein on Sunday, defeating the Columbian Dyip, 118-114, in overtime in their battle of struggling teams in the Philippine Basketball Association Governors’ Cup at the Smart Araneta Coliseum.

A campaign of lessons for volleyball and basketball

THE 18th Asian Games campaigns of the Philippine women’s volleyball and men’s basketball teams in Indonesia officially came to an end on Saturday and Friday, respectively, with both looking at them with some regrets, believing they could have done better, but nonetheless determined to make full use of the lessons they got moving forward.

Federer out-maneuvers Kyrgios as Kerber, Zverev fall at US Open

NEW YORK — Five-time champion Roger Federer found a new way to amaze Saturday as he reached the US Open last 16 with a 6-4, 6-1, 7-5 victory over Nick Kyrgios.

Kaya FC-Iloilo and Davao Aguilas open Copa Paulino Alcantara bids with wins

KAYA FC-Iloilo and Davao Aguilas FC got their respective campaigns at the Copa Paulino Alcantara to a winning start, taking their tournament debuts at the weekend at the Rizal Memorial Football Stadium.

Lakers waive Luol Deng to save money for 2019 NBA free agency

LOS ANGELES — Britain’s Luol Deng was waived Saturday by the Los Angeles Lakers, enabling the club to save enough money under NBA salary cap rules to land a top 2019 free agent.

Disappointed Rogen Ladon really wanted to get gold

ONE of the Filipino athletes who had a solid shot at a gold medal at the just-concluded 18th Asian Games in Indonesia, it is understandable the disappointment that boxer Rogen Ladon is feeling, more so because of the circumstances how things ended for him which he described as far from ideal.

Playing for flag and honor

PHILIPPINE Basketball has just added another chapter of a colorful episode in the Asian Games and Filipinos are still savoring the moment.

Realities of business in the NBA

LUOL DENG still wants to play. He has made that clear — from the moment the Lakers shut him down late in the 2016-17 season ostensibly to give young players more time on the court and up until they mutually agreed to part ways yesterday. And, yes, he still believes in his capacity to contribute meaningfully in another National Basketball Association uniform, and to the extent that he gave up a whopping 20% of his salary over the next two years just to be free of his contract.

Tax sharing in the ConCom’s draft charter

THE CONSTITUTION drafted by the Consultative Committee to Review the 1987 Constitution (ConCom) had drawn negative reactions, which went into a high crescendo with regard to the sharing of national taxes between the central government and local governments in relation to their responsibilities and functions. Oddly, this was initiated by certain Cabinet secretaries themselves. This was followed with fanfare by the business community.

The gift of life

I lost a new IPhone. Worse, I lost it on the day of my wife Mae’s third death anniversary.

End of the road for federalism?

IN his third State of the Nation Address (SONA) in July, President Rodrigo Durterte urged Congress to work on his proposal to change the Constitution to enable the Philippines to shift from the current presidential to a federal form of government. Curiously as we observed in our brief, he did it less forcefully then what many had expected considering that federalism, along with the drug war and anti-corruption drive, had been an oft-repeated subject of his lengthy monologues. Today, a month after that speech, the drive for federalism seems to be waning.

Available rice for tolerable poverty

Mang Pedro, temporary construction helper, married, father of three, could not even afford the P38-lunch sold on the sidewalk. He squatted in a corner, away from the other workers boisterously competing for the bigger slices and the more generous-looking rice portions of Aling Rosa’s food. He carefully opened his “baon” (packed lunch). It was plain boiled white rice — but twice the quantity of Aling Rosa’s serving. No viand. Over the rice, he squeezed the ketchup from the frayed foil packet that he picked up from a fast food outlet.

Jim Rogers favors several sectors in China stocks amid global volatility

IN AN exclusive interview with Jim Rogers, he said he favors several sectors in the Chinese stock market amid global volatility and US-China trade...

Chinese bridge pushes Maldives deeper in debt: opposition

Maldives -- The Maldives opposition said Friday that President Abdulla Yameen had pushed the Indian Ocean nation deeper into a Chinese "debt trap" with...