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Daily Archives: October 5, 2018 | 7:13 pm

Inflation hits fresh 9-year high in Sept

INFLATION surged anew in September to a fresh nine-year high as the strong typhoon which hit last month worsened supply issues for rice and other crops, spurring calls for further interest rate hikes from the central bank.

August factory output growth slows

MANUFACTURING output continued to expand in August albeit at a slower pace compared to a month earlier, the Philippine Statistics Authority (PSA) reported last Friday.
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Gross international reserves falls to 7-year low

GROSS international reserves (GIR) dropped anew to a seven-year low in September amid lower gold valuations and as the central bank used the stash to defend the currency.

‘Rough draft’ for joint oil exploration with China ready for review

FOREIGN AFFAIRS Secretary Alan Peter S. Cayetano announced yesterday that he already has a copy of a “rough draft” of the framework for the planned joint oil exploration with China in the contested West Philippine Sea.

Roque mulls resignation after President confirms hospital visit

PRESIDENTIAL SPOKESPERSON Harry L. Roque, Jr. said on Friday that he is considering resigning after he was “taken aback” by the confirmation of a hospital visit by President Rodrigo R. Duterte last Wednesday, which he said he did not know about.

Retiring army chief Bautista to head DSWD

PRESIDENT RODRIGO R. Duterte announced last Thursday that he is set to appoint retiring Army Commanding General Rolando Joselito “Rolly” D. Bautista as secretary of the Department of Social Welfare and Development (DSWD).

Court gives deadline for Trillanes’ evidence

THE Makati Regional Trial Court (RTC) Branch 148 has issued an order for Senator Antonio F. Trillanes IV to present his witnesses and evidence on or before Tuesday, after a court hearing was held regarding the validity of his amnesty for his involvement in two coup d’etat attempts.

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LP-led bloc takes House minority leadership question to SC

THE MINORITY bloc in the House of Representatives led by the opposition Liberal Party (LP) has formally challenged the minority leadership before the Supreme Court (SC), filing a case on Friday, Oct. 5.

DICT to start pilot tests for national broadband plan next month

THE Department of Information and Communications Technology (DICT) said that next month it will start the pilot test of its fiber backbone facility that will be used for the implementation of the national broadband plan.

Pre-bid conference for rice importation draws 12 companies

TWELVE companies participated in the pre-bid conference for the importation 250,000 metric tons of 25% broken well-milled long grain white rice for the National Food Authority on Friday.

PSA opts for competitive bidding for National ID system

THE government will pursue competitive bidding for the national ID system, with the pilot registration pushed back to next year.

ALI issues P8-B in fixed rate bonds

AYALA Land, Inc. (ALI) raised P8 billion from the issuance of fixed rate bonds on Friday, which are expected to fund several mall, office, and hotel projects it has in the pipeline.

Century Properties sells P2B vacation homes in Nasugbu

CENTURY Properties Group, Inc. (CPG) has pre-sold 342 vacation homes worth P2 billion in its residential tourism estate in Nasugbu, Batangas, more than nine months after it was unveiled to the market.

Lazada opens first hub in Davao

E-COMMERCE site Lazada Philippines on Wednesday opened its first warehouse in Davao City — its third warehouse in the country — which is expected to speed up the delivery of items to online customers in the area.
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Chelsea Logistics acquires two new vessels

CHELSEA Logistics Holdings Corp. (CLC) added two new ships to the company’s existing fleet of 83 as part of its expansion program.

SSS pension loan availments hit over P100M

AVAILMENTS under the pension loan program of the Social Security System (SSS) reached over P100 million during the first month of implementation, the state-run firm said on Friday.

CLI secures P3-B loan from DBP

THE Development Bank of the Philippines (DBP) extended a P3-billion loan to a Cebu-based contractor planning to build a commercial center in Mandaue City.
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Peso rebounds on lower-than-expected inflation

THE peso recovered on Friday as market players reacted to a lower-than-expected inflation reading for September, which helped ease negative sentiment towards the local currency.

PSEi slides as investors shrug off inflation data

LOCAL equities fell amid lackluster trading on Friday following the release of September inflation data which revealed a new nine-year high.

Cloud computing: Here’s how to get on board, and get ahead

AWS head explains why you need to learn cloud computing

PH banks to remain stable amid rising inflation: Fitch Solutions

By Anna Gabriela A. Mogato The country’s banking system will keep steady despite concerns over a possibly overheating economy, a new report claimed. In its Industry Trend...
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WB flags growth slowdown

THE WORLD BANK has downgraded its 2018 economic growth forecast for the Philippines -- making it the third multilateral lender to do so since last week due to heightened external uncertainties and surging inflation locally -- but overall prospects should remain “strong” enough for it to maintain the country’s projections for 2019-2020.
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Road Safety 101 for students and drivers: starting them young

Maybe it is best that people learn about road safety at a young age -- perhaps as early as grade school.

BSP says risks are ‘growing pains’

THE PHILIPPINES has ample policy space to respond to persistent threats of surging inflation, a weaker peso and a growing trade gap, a senior central bank official said, describing such concerns as “growing pains” for the economy.
Hans Christian Andersen and Jose Rizal: From Denmark to the Philippines

From Denmark to the Philippines

BORN to a poor family and struggled to find success as an actor, Hans Christian Andersen ventured into writing fairy tales early in the 1800s. As a storyteller, Andersen presented deep ideas and feelings with a style that appealed to a child’s perspective.

Investors glum on Asia sovereign bonds as dollar, oil prices bite

ON TRACK for their first annual drop since 2015, emerging Asia’s sovereign bonds look set to call time on a two-year binge fueled by a tide of cheap money.

PLDT inks deal with foreign firms for Voyager

PLDT, Inc. announced on Thursday it has signed an agreement to sell separately $175 million worth of shares in its digital innovations unit Voyager Innovations, Inc. to a group of foreign investors led by investment firm Kohlberg Kravis Roberts & Co. (KKR) and Chinese tech company Tencent Holdings Ltd.
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Twitter launches global in-stream video ads, partners with ABS, GMA

TWITTER, INC. announced on Thursday it is making its in-stream video advertisements available globally and has forged partnerships with local companies ABS-CBN Corp. and GMA Network, Inc.

19 Pinoy films in Busan film fest

NINETEEN Filipino films have made their way to South Korea’s 23rd Busan International Film Festival (BIFF) as Philippines is the festival’s Country of Focus, marking 100 years of Philippine Cinema.

Connecting communities through big ideas

Wilcon Depot opens in Tayabas, Quezon As the country’s largest construction supplies and home improvement retail chain, Wilcon Depot, Inc. is in a unique position...

Alsons offers ancillary services to NGCP to boost Mindanao supply

ALSONS Consolidated Resources, Inc. said on Thursday its power group’s diesel plant in Sarangani had offered to provide ancillary services amounting to 55 megawatts (MW) to privately owned grid operator National Grid Corporation of the Philippines (NGCP) to help stabilize power supply in south-central Mindanao.

Advanced comedy by Lynn Ruth Miller

CONSIDERED one of the oldest female stand-up comedians in the world, Lynn Ruth Miller, hauls her brand of comedy over to the Philippine capital for a two-night show on Oct. 18 at the Relik Bar in Bonifacio Global City in Taguig, and Oct. 19 at the Union Jack Tavern in Makati City.

SEC approves San Miguel food subsidiary’s P142.81-billion follow-on offering

THE SECURITIES and Exchange Commission (SEC) has given the go signal for San Miguel Food and Beverage, Inc. (SMFB) to conduct its P142.81-billion follow-on offering, slated to be the largest share sale in the history of the Philippine equities market.
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DoLE to enforce SC ruling vs ‘boundary’ pay at bus companies

THE Department of Labor and Employment will monitor bus companies to enforce its Department Order calling for public utility bus (PUB) drivers and conductors to be salaried workers at least in part.

Chinese movie star Fan Bingbing hit with huge tax evasion fines

BEIJING — China has ordered A-list movie star Fan Bingbing to pay about 884 million yuan ($129 million) in overdue taxes and fines, state news agency Xinhua said on Wednesday, as a crackdown on tax evasion in the entertainment industry gathers momentum.

Metrobank raises P8.68 billion

METROPOLITAN Bank & Trust Co. (Metrobank) has raised P8.68 billion from the first tranche of its P25-billion long-term negotiable certificates of deposit (LTNCD) program meant to diversify its funding sources.
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High engagement associated with stronger revenue growth — Aon

HIGHER LEVELS of employee engagement have been associated with superior top-line results, according to professional services and risk consulting group Aon.

Boulevard Holdings banks on Boracay reopening to boost sales performance

BOULEVARD Holdings, Inc. (BHI) is banking on the reopening of tourist destination Boracay Island this month to improve its business, after posting declines in its sales performance during the island’s six-month rehabilitation.

Mad Men creator returns to theme of identity with new show The Romanoffs

LONDON — Mad Men creator Matthew Weiner is back with a new television series, but while this one is set far from the 1960s world of advertising, he says the themes are much the same.

Monster, Inc.

By Noel Vera Video Review My Neighbor Totoro Directed by Hayao Miyazaki (CAUTION: plot and narrative twists — which aren’t all that much and anyway aren’t the heart...

Consumer group questions TransCo’s FiT overpayment

A CONSUMER GROUP has questioned the P36.53 million overpaid by National Transmission Corp. (TransCo) to renewable energy (RE) companies for the power they produced under the feed-in tariff (FiT) system, and sought a disclosure of an updated figure while pushing for changes in how the amount is being computed.

Banks fail to comply with required Agri-Agra lending

BIG BANKS again failed to comply with required lending to the farming sector in June, which came at a time of robust asset growth, latest central bank data showed.
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C-suite gender equality deemed critical in finance

MCKINSEY & Co. said gender disparity in the boardrooms of financial institutions remains an issue in the Philippines, and called female representation important in the context of a customer base that is growing more diverse.

Half of The Last Jedi haters were bots, trolls, activists, study says

LOS ANGELES — How much did movie fans hate Star Wars: The Last Jedi?

Good intentions

THERE’S NO QUESTION that the Gundam franchise has become huge to the point of ubiquity. These days, offshoots of animation studio Sunrise’s intellectual property can be found practically anywhere, way beyond the small and big screens and into toy establishments, hobby shops, book and video game stores, and collectors’ corners. It has become so ingrained in popular culture that a 65-foot-tall Unicorn mecha in Odaiba stands as one of Japan’s biggest — literally and figuratively — tourist attractions.