Home 2018 October 10

Daily Archives: October 10, 2018 | 10:17 pm

poverty slum area

Self-rated poverty worsens in Q3 amid inflation pressures

SOCIAL WEATHER STATIONS (SWS), a polling organization, said Tuesday that more than 12.2 million families self-rated themselves as poor, equivalent to 52% of respondents in a study conducted at the end of September, up from 48% a quarter earlier.
rice grains

Rice tariff scheme remains goal despite ‘surprise’ order to import more freely

PRESIDENT Rodrigo R. Duterte’s order for the “unimpeded” importation of rice has caught economic agencies off guard, though they pointed to the ultimate goal remains a rice tariff accompanied by freer inbound movement of the commodity.
Vietnam rice

Failure to win PHL orders dampens Vietnam rice prices

PRICES of unmilled rice fell further in Vietnam after it failed to obtain a government-to-government order from the Philippines in the second half of May and increased China import tariffs in July, according to the United States Department of Agriculture.
mining

DoF still hoping to get its way on mining royalty

THE DEPARTMENT of Finance (DoF) will continue to push for its version of a new fiscal regime for the mining industry as the legislation moves forward through Congress, an official said Wednesday.
congress House of Representative

House not likely to pass 2019 Budget before recess

THE P3.757-TRILLION Budget Bill for 2019 is unlikely to hurdle the House of Representatives ahead of the Oct. 12 recess.
Rodrigo Duterte & Zhao Jianhua

DoF denies China ODA was leverage for joint exploration

THE DEPARTMENT of Finance (DoF) said that Chinese loans and grants were not employed as leverage to arrive at a joint energy exploration agreement in the South China Sea.
BPO

BPO night-pay bill may trigger demands from other workers

A BILL granting additional pay to Business Process Outsourcing (BPO) employees on the night shift might encourage workers in other industries to demand similar benefits, a wage regulator said.


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Securing advance rulings on tariff classification

One of the greatest challenges some traders face is to have their shipments put on hold by the Bureau of Customs (BoC) due to tariff classification issues, errors on valuation, and incomplete documents, among others. Often, some importers do not conduct a regular review of their tariff classification codes for accuracy and compliance and as such, they can be potentially paying more duties on their products than they are actually liable for.
Retiring by choice, not by age

Retiring by choice, not by age

I am a journalist, and have been for my entire professional life. There is no such thing as “retirement” for this particular work, especially for freelancers. If you can still think, and write, and go out there and produce stories or articles or columns, and media outfits are still willing to pay you for your output, then you can continue to work. An option, of course, is to self-publish or self-broadcast, usually electronically, by doing your own blog or site or podcast.
The economics of splendor

The economics of splendor

Splendor is a tabletop card-based game created by Marc Andre, designed by Pascal Quidault, and first released by Space Cowboys in 2014. At first glance, the game looks complicated, maybe even daunting, because the cards look a bit like those of Magic: The Gathering, another card game. I was delighted to learn that some topics I learned in business school are demonstrated in Splendor. Below are my top management and economics lessons from Splendor.
Corrupted science to justify renewables cronyism

Corrupted science to justify renewables cronyism

In a letter “Response to ‘Cheap, stable electricity vs climate alarmism’” published in BusinessWorld yesterday, Oct. 10 2018, Mr. Eddie O’Connor of wind-solar lobby wrote the following weird claims:
Showing audience reaction

Showing audience reaction

IT IS a staple of basketball telecasts for the TV camera in dull moments, like a dead ball, between foul shots, or referees conferring on what violations to call, to pan the camera on the audience. The camera catches reaction shots of celebrities with unexpected seatmates or teammates waiting to be fielded in. It is good for the spectator to appear unmindful of stolen shots. (Please don’t wave.) The ideal demeanor should approximate someone who just emptied his bladder and is contented with his present state.
Phoenix Fuel Masters

Fuel Masters regain winning touch, crush Road Warriors

THE PHOENIX Fuel Masters got back on the winning track of the Philippine Basketball Association Governors’ Cup in grand fashion on Wednesday, steam-rolling past the NLEX Road Warriors, 123-97, at the Cuneta Astrodome in Pasay City.
chess pictogram Para Games

Filipino para wood pushers deliver gold medals

THE Philippines climbed back in the medal standings of the 2018 Asian Para Games in Indonesia after Filipino para chess players delivered gold medals on Wednesday.
Asian Para Games 2018 Indonesia

Asian Para Games: Silver, bronze medals go the Philippines’ way

THE Philippines’ campaign in the ongoing Asian Para Games in Indonesia continues to bear fruit with the country’s para athletes adding to their total medal haul.
Boston Red Sox

Red Sox survive 9th inning, close out Yanks in Game 4

CRAIG KIMBREL escaped a bases-loaded jam in the ninth inning, and the Boston Red Sox held on for a 4-3 victory over the host New York Yankees on Tuesday night to win an American League Division Series in four games.

DanceSport holds National Championships

THE DanceSport Council of the Philippines (DSCPI) is set to host the 22nd DSCPI National DanceSport Championships at the Ballroom Hall of Valle Verde Country Club, Pasig City on Saturday.
UST Growling Tigers

Undermanned UST brings down UP

THE UNIVERSITY of Santo Tomas Growling Tigers ended their first-round campaign in UAAP Season 81 on a high note, defeating the University of the Philippines Fighting Maroons, 86-72, on Wednesday at the Mall of Asia Arena.
Team Laro

7’s Football League semis set

TAGUIG -- Laro, Real Amigos, Super Eagles, and Ghana barged into the semifinals of the 7’s Football League after the final regular season games and the eventual quarterfinals that took place on Monday night at the McKinley Hill Stadium in Taguig.

Aussie Open organizers working towards stand on coaching rule

MELBOURNE -- Australian Open organizers are working to determine whether coaching will be allowed during the Grand Slam tournament in an effort to end the controversy that led to Serena Williams’ outburst over a code violation during the US Open final.

Games from Batumi

Total of 185 teams from 183 countries. Georgia as the host country was allowed to field 3 teams.

Preseason matches

Preseason games don’t normally matter. More than anything else, they provide opportunities for coaches to try out different personnel combinations, substitution patterns they wouldn’t otherwise employ, and plays seemingly more suited for the Globetrotters. Still, they’ve become must-see fare of late, showing fans glimpses of the coming campaign. And, needless to say, some stand to be more interesting than others, headlined as they are by marquee names who, even with controlled exposure, remain motivated by winning.

CA justice named to High Court

COURT OF APPEALS (CA) associate justice Justice Ramon Paul L. Hernando was appointed Supreme Court associate justice by President Rodrigo R. Duterte, Justice Secretary Menardo I. Guevarra said on Wednesday.
Senate of the Philippines

Senate approves universal health care bill on third reading

THE SENATE on Wednesday passed on third and final reading the universal health care bill, which will provide automatic inclusion of all Filipinos in the National Health Insurance Program of the Philippine Health Insurance Corp. (PhilHealth), including overseas Filipino workers.
congress House of Representative

House approves on 2nd reading expanded sexual harassment bill

THE BILL expanding the definition of sexual harassment in the workplace or educational institutions has hurdled second reading at the House of Representatives.

Palace releases report on narco-cops

MALACAÑANG on Wednesday made public its “Secret Special Report” on the alleged involvement of high-ranking law enforcement officials in drug trafficking in the country.
peso remittance

Peso climbs vs dollar

THE PESO strengthened on Wednesday as the dollar’s ascent against the euro paused and as the local trade data came in stronger than expected.
PSE BGC bells

Local stocks slump as PHL growth prospects dim

THE MAIN INDEX weakened anew on Wednesday, nearing its record low for the year as the sluggish outlook on the country prompted more foreign investors to pull out their funds from the local market.

Davide, Puno face off on federalism

TWO retired chief justices (CJ) of the Philippines shared their thoughts, at a forum Wednesday, on constitutional amendments.

UNICEF flags inflation’s impact on child malnutrition in PHL

THE United Nations Children's Fund (UNICEF) and National Economic Development Authority (NEDA) have flagged the impact of inflation on malnutrition among children in the country.

Philex honors rescue team

Philex Mining Corporation recently honored its rescue team that saw action in search-and-rescue and search-and-retrieval operations at the landslide incident at Brgy. Ucab, Itogon, Benguet brought about by Typhoon Ompong.

Nationwide round-up

FOREIGN AFFAIRS Secretary Alan Peter S. Cayetano and Budget Secretary Ben E. Diokno led a Philippine delegation that met with representatives of the European Union in Manila on Tuesday for “better” understanding on various issues and expand trade relations.

Social media is top use for internet among Filipinos, but does it affect their...

WHILE ALMOST all Filipinos who access the internet do so to check on their social media accounts such as Facebook, Twitter, and Instagram, only a bare majority say their political views changed at least once because of what they have seen online, the latest survey from Pulse Asia Research, Inc. showed.

Bohol 7.2 earthquake anniversary: Phivolcs strengthens DRRM officers’ capacity

DISASTER RISK Reduction and Management (DRRM) officers of the 47 towns and one city of Bohol are undergoing a seminar-workshop organized by the Philippine Institute of Volcanology and Seismology (Phivolcs) on Oct. 10-11 to strengthen earthquake awareness and preparedness.

PECO says protest vs alleged high rates baseless

PANAY ELECTRIC Co. (PECO) has dismissed Tuesday’s protest against its alleged high power rates, noting that those who joined the rally in front of the Energy Regulatory Commission’s (ERC) Manila office are not involved in past complaints filed by consumers.

Mental Health Division proposed in Davao City

AN ORDINANCE creating the Mental Health Division under the City Health Office has been presented before the city council to address rising cases of psychological illnesses, particularly depression among teenagers.

Consumer group questions Zamcelco’s investment management deal

A CONSUMER group has filed a case before the National Electrification Administration (NEA) against board members of the Zamboanga City Electric Cooperative (Zamcelco) for what it called an anomalous bidding of the power distributor’s investment management contract (IMC).

Nation at a Glance — (10/11/18)

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

Core Capital, Gobi Partners launch $10-M fund for Philippine startups

VC firms partner launch multi-million dollar seed fund for local startups.

The Philippines is the latest battleground for China’s internet giants

WITH Chinese internet giants Ant Financial Services Group and Tencent Holdings, Ltd. seeking to expand into the Philippines, experts predict a spike in the use of mobile financial services.

Gone phishing: The latest in cybercrime, and how to beat it

Kaspersky Lab on the latest cybersecurity threats, and how to beat them.
rice grocery

Palace orders ‘unimpeded’ rice imports

PRESIDENT Rodrigo R. Duterte has ordered “unimpeded” importation of rice, adding to steps meant to ease inflation which has been hitting multiyear peaks, Malacañang’s spokesman said on Tuesday.
taxpayers

General tax amnesty awaits plenary action in the Senate

SENATOR Juan Edgardo M. Angara, chairman of the Senate Ways and Means committee, on Tuesday submitted a general tax amnesty bill for plenary action.
congress

House moves to relax foreign business hurdles

A BILL seeking to amend Republic Act No. 7042, or the Foreign Investments Act of 1991 in order to further open up the Philippine economy to foreign participation secured committee-level approval in the House of Representatives on Tuesday.
Rodrigo R. Duterte

Duterte says tissue samples ‘not yet cancerous’

HINDI pa ako cancerous.” With those words, President Rodrigo R. Duterte on Tuesday evening sought to lay to rest speculations he was stricken with the disease.