Home 2018 October 2

Daily Archives: October 2, 2018 | 11:01 pm

typhoon ompong damage

World Bank releases over $496M for calamity relief

THE WORLD BANK has released a $496.25-million aid package for the Philippines to help fund reconstruction and recovery in areas hit by typhoon Ompong (international name: Mangkhut).
Xi Jinping

Recto Bank exploration deal eyed for Xi visit

MALACAÑANG on Tuesday said it is “doing everything” to ensure that a joint oil exploration deal between the Philippines and China on the Service Contract (SC) 72 located in the disputed Recto (Reed) Bank in the West Philippine Sea will be signed during Chinese President Xi Jinping’s visit to Manila in November.
rice stall

DTI recruiting major retailers to sell P38/kilo imported rice

THE Department of Trade and Industry (DTI) will invite major retailers to import 350,000 metric tons (MT) of rice to supply supermarkets by the end of October, noting that two such groups have expressed their willingness to import the staple.
Department of Finance (DoF)

DoF: TRABAHO Bill targets abuse of investment perks

TRANSFER pricing schemes employed by companies have resulted in annual revenue losses of at least P43 billion in 2015, the Department of Finance (DoF) said.
SCTex

Central Luzon dev’t bill passes on 3rd reading

THE SENATE on Monday passed on third and final reading a bill creating the Regional Investment and Infrastructure Coordinating Hub (RICH) of Central Luzon, which seeks to generate jobs and attract capital to the region.
European Chamber of Commerce of the Philippines (ECCP)

European chamber considering SME partnering project extension

THE European Chamber of Commerce of the Philippines said that it plans to extend its five-year project, known as the EU-Philippines Business Network, which partners small and medium enterprises from Europe with domestic companies.
Sun Life

Sun Life cuts 2018 GDP estimate to 6.4% from 7%

SUN LIFE of Canada (Philippines), Inc. (Sun Life Financial) has downgraded its economic growth forecast for 2018, driven by lower consumption due to elevated inflation.
Philippine Statistics Authority (PSA) logo

PSA seeks restoration of original budget for national ID registration

THE Philippine Statistics Authority (PSA) is appealing to Congress to restore its P6.2 billion proposed budget for the implementation of the Philippine ID system (PhilSys) to ensure it hits its initial target of signing up 25 million Filipinos.

PSALM declares South Korean firm sole bidder for Malaya O&M contract

POWER SECTOR Assets and Liabilities Management Corp. (PSALM) said it declared Soosan ENS Co., Ltd. the lone bidder for Malaya thermal power plant’s operation and maintenance service contract.
PCSO

SC allows PCSO to auction Luzon online lottery system

THE SUPREME COURT (SC) has allowed the Philippine Charity Sweepstakes Office (PCSO) to proceed with the auction of the Luzon component of the Nationwide On-line Lottery System.
sugar cubes

SRA authorizes sugar imports of 150,000 MT

THE Sugar Regulatory Administration has ordered the importation of 150,000 metric tons of raw or refined sugar to address rising prices for the commodity, with delivery expected not later than Dec. 31.
Our loving neighbor

Our loving neighbor

The recent earthquake and tsunami disasters in Pula, Sulawesi, have brought to my foremind the special regard of Indonesians for Filipinos, which I observed during my many teaching trips to Indonesia in the late ‘80s. Many of the highly paid expat executives in Indonesian firms then were Filipinos whom the Indonesians were said to prefer to “white people” because of unpleasant memories from their colonial past. Some expats had been brought there by our first multinational: SGV, the accounting and management consultancy. The biggest ad agency which handled the Unilever account was headed by a Filipino, and its creative director, Eleanor Modesto, was a Filipina. A young Filipino was liabilities marketing director of the fastest growing bank in Jakarta. The Filipino executives were paid in expat level US dollars with perks such as housing and country-club memberships.
Business-minded or business-hindered?

Business-minded or business-hindered?

“A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today. The true entrepreneur is a doer, not a dreamer.” -- Nolan Bushnell, Entrepreneur


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Political Railroading

We’ve seen how politicians in power get the things they want and to hell with the law or due process. The arrest of Senator Antonio Trillanes IV is what is called in Tagalog, santong paspasan or barasuhan. It’s also called railroading.
Powering development through proper energy policies

Powering development through proper energy policies

Last week, consumer group CitizenWatch Philippines, in partnership with Stratbase ADR Institute, hosted an energy stakeholder’s forum entitled “Energy Outlook: Supplying Rising Demand at Lower Cost.” The forum aimed to provide different stakeholders in the power industry a conducive venue to tackle the key issues affecting the real cost of electricity in view of price fluctuations, market volatility and rising energy demand.
Trillanes

Palace, AFP differ on Trillanes amnesty, LP ‘plot’

ARMED Forces of the Philippines (AFP) Chief of Staff Gen. Carlito G. Galvez, Jr. confirmed at a Senate hearing on Tuesday that opposition Senator Antonio F. Trillanes IV had applied for amnesty in 2011, and also denied that the embattled lawmaker and the opposition Liberal Party (LP) are in cahoots with communist rebels in a supposed Red October ouster plot against President Rodrigo R. Duterte.

Trillanes blasts Calida, defends 2011 amnesty

IN HIS privileged speech on Monday, Senator Antonio F. Trillanes IV presented anew documents and media reports attesting to his full compliance to his 2011 amnesty application.

Court denies Palparan’s motion against transfer to Bilibid

MALOLOS CITY Regional Trial Court (RTC) Branch 15 denied a motion by retired general and convicted kidnapper Jovito S. Palparan, Jr. against his transfer to the New Bilibid Prison, Justice Secretary Menardo I. Guevarra said.

PHL, US, Japan kick off drills at Subic Bay

NAVAL and marine troops from the Philippines, the United States, and Japan had started a joint military exercises on Monday, Oct. 1, at Subic Bay.

Military says more NPA members laying down arms

THE ARMED Forces of the Philippines (AFP) claims it is winning the battle against the communist movement as more members of the New People’s Army (NPA) have been voluntarily surrendering.

Palace hints on political motive behind Sudipen mayor’s murder

MALACAÑANG ON Tuesday promised a quick resolution on the killing of Sudipen, La Union Mayor Alexander O. Buquing, which Presidential Spokesperson Harry L. Roque, Jr. said could be politically motivated with election season just around the corner.

8 arrested over illegal land conversion in Lapu-Lapu City

THE ENVIRONMENTAL Crime Division (EnCD) of the National Bureau of Investigation (NBI) recently arrested eight suspects for illegal land conversion in Barangay Babag, Lapu-Lapu City, Cebu.

Cebu City to test US firm Leotek’s traffic management system

THE CEBU City government will have a trial run of the road traffic system of Leotek Electronics USA LLC to see if it will help address the long-standing congestion problem. Councilor Jerry L. Guardo, chairman of the committee on environment, energy, transportation, communication and other utilities, told reporters that they know of Leotek after their recent official visit in Taiwan, where the company has installed cameras in intersections.

Iloilo Rep Treñas to file charges over P16.5-M walkway project under Green, Green, Green...

REPRESENTATIVE JERRY P. Treñas of the lone district of Iloilo City plans to file charges against those involved in the proposed P16.5-million walkway project of the city government that will link Sunburst Park with Plaza Libertad.
WesMinCom logo

Maute group sub-leader killed

A SUB-LEADER of remnants of the Maute group, which led the siege in Marawi City last year, was killed on Sunday in Upper Dimayon, Tagoloan Lanao del Norte, the Western Mindanao Command (WesMinCom) reported in a statement late afternoon Monday.

ARMM documents for turnover to new Bangsamoro 90% complete

DOCUMENTS THAT the Autonomous Region in Muslim Mindanao (ARMM) government will turn over to the new political entity under the Bangsamoro Organic Law (BOL) are now “90% to 95%” ready.
PSE

Stocks slump as oil prices stoke inflation concerns

LOCAL EQUITIES tumbled on Tuesday as the rise of global oil prices heightened inflation fears alongside the continued sell-off by foreign investors.

Peso weakens as investors price in inflation bets

THE PESO weakened further against the dollar on Tuesday as investors continued to price in a likely faster September inflation print.

Nation at a Glance — (10/03/18)

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

EAC Generals win two in a row, send Chiefs packing

THE Emilio Aguinaldo College Generals notched their second back-to-back wins in Season 94 of the National Collegiate Athletic Association after beating the Arellano Chiefs, 78-70, on Tuesday at the FilOil Flying V Centre that also ended the playoff hopes of the latter.
ROS Elasto Painters

Rain or Shine looks to arrest bad start in Governors’ Cup

HAVING opened their Philippine Basketball Association Governors’ Cup campaign with two straight losses, the Rain or Shine Elasto Painters look to break through the win column when they take on the Alaska Aces today at the Smart Araneta Coliseum.
DLSU Green Archers

De La Salle Green Archers face off with Ayo-coached UST Growling Tigers

FOR the first time since parting ways late last year, the De La Salle Green Archers will face off with former coach Aldin Ayo when they take on the University of Santo Tomas Growling Tigers in the curtain-raiser of University Athletic Association of the Philippines Season 81 action today at the Mall of Asia Arena.

Chess Olympiad: Philippine men’s team beats Albania, 2.5-1.5

THE Philippines survived a feisty Albania, 2.5-1.5, to slowly creep back into the thick of things after seven rounds in the men’s division of the 43rd World Chess Olympiad in Batumi, Georgia Monday night.
Team PH Asian Para Games

PHL out to improve on Asian Para Games campaign

PHILIPPINE para athletes begin their 2018 Asian Para Games campaign later this week with the hopes of improving on their last showing at the quadrennial sporting event after being shored up by more support from stakeholders.

US Ryder Cup loss raises old questions

LOS ANGELES -- A change in PGA Tour scheduling will ensure the American players are fresher at future Ryder Cups, but that alone will not guarantee future success, particularly when the biennial event against Europe is held away from home.

Predictions (1)

The new season of the National Basketball Association is just weeks away and all indications point to yet another interesting run following landscape-altering moves across varying levels in the offseason.

Reed’s revelations

In retrospect, Patrick Reed speaking out was, perhaps, the most predictable offshoot of a forgettable Ryder Cup experience. Christened “Captain America” for his unabashed, if over the top, displays of partisanship, he failed to live up to the promise borne of his two previous stints and was relegated to the far end of Team USA’s understandably somber post-event press conference. He wasn’t heard from then, but he clearly had a lot on his mind, and barely had an hour passed before he pounced on an opportunity to get his points across.
BAIC 1

Prized Points: BAIC unveils two hopefuls for SUV, MPV categories

THE sports utility vehicle (SUV) and multi-purpose vehicle (MPV) segments are two of the fastest-growing and selling formats in the automobile industry. On Sept. 28, BAIC Philippines unveiled two new models in the aforementioned categories in a bid to stake a claim in the niches. The car brand (which opened shop here in 2014) is the fourth-largest auto group in China, where it is based in Beijing. The BAIC Group is ranked 124th on the Fortune Global 500 list, with an operating income of $69.6 billion, according to a company statement. Its design center is located in Turin, Italy.
Bentley Continental GT 1

New-generation Continental GT is latest Bentley in PHL

FUSING together sport and opulence, speed and long-distance coziness, has been the Bentley Continental GT’s brief from Day One -- or since 2003, when the original model debuted. Three generations later, the car faithfully keeps to its reason for being, all while packing the latest in car-making technologies. The all-new Continental GT, launched in September last year at the Frankfurt Motor Show, is a rolling-sculpture proof of this. And, now, it has arrived in the Philippines (it’s now available at the newly refurbished Bentley Manila showroom in Bonifacio Global City).
Volvo XC60

Cars and crustaceans (or what Volvo has to do with crayfish)

APPARENTLY, the idea for creating Volvo was hatched over a seafood meal.
Shell saltwater toy car

Shell brings out toy cars fueled by saltwater

SHELL has released toy cars propelled by electric motors with lithium batteries juiced by saltwater.
MG3

If you’re 40 years old and above, you would want to read this

In January this year, the official Facebook page of the local MG distributor posted the following declaration: “Only for the young. If you’re 40 and above, please buy other brands.”

Urban, religious violence spike in Bangsamoro: Study

THE Bangsamoro region of Mindanao saw a spike in urban violence as well as inter- and intra- religious identity violence last year, a new report found. This, despite the drop in rebellion-related violence.

Facebook just had a giant security breach. No, you don’t need to panic.

Kaspersky advises not to panic following Facebook breach.

Megaworld plans P500-M boutique hotel in Bacolod township

MEGAWORLD Corp. said it will be building a P500 million luxury boutique hotel in The Upper East Township, its 34-hectare property in Bacolod City, set to open by 2022.