Home 2018 October 12

Daily Archives: October 12, 2018 | 9:05 pm

IMF slashes 2019 Philippine growth forecast as well

THE INTERNATIONAL MONETARY FUND (IMF) has downgraded its economic growth forecast for the Philippines in 2019, over the worsening trade conflict between the US and China.

China Telecom buys bid documents for ‘third player’ selection

CHINA Telecom Corp. Ltd. became the second foreign company to buy bid documents to become the telecommunications industry’s third entrant — the so-called “third player” — with the selection process also getting a boost after a Manila court denied a petition for a temporary restraining order (TRO) by a participant questioning the bid terms.

Globe says tower-building industry needs more participants

GLOBE Telecom Inc said on Friday that the government’s decision to limit the field to two independent companies in the tower-building industry will hinder efforts to develop faster Internet connectivity in the Philippines.

FINEX warns tax reform uncertainty disrupting investment plans

MORE policy certainty, particularly regarding the government’s system of taxation and incentives, is required in order not to disrupt businesses planning to expand their activities, the top official of the Financial Executives Institute of the Philippines (Finex) said.

4 ASEAN countries sign deal on free movement of investment advisors

MALAYSIA, the Philippines, Singapore and Thailand signed a memorandum of understanding (MOU) to facilitate cross-border movement of investment advisers which would give regional investors greater access to professional services, the Securities and Exchange Commission (SEC) said on Friday.

Vivant units sell 48% stake in renewable energy firm

CEBU-BASED Vivant Corp. said on Friday that two of its subsidiaries sold their shares in a northern Luzon renewable energy company that has an independent power producer (IPP) administrator contract with the government.

DBP, Metrobank sign property tax payment tieup

THE Development Bank of the Philippines (DBP) said it tied up with Metrobank Card Corp. (MCC) in an electronic-payments venture to facilitate Taguig and Valenzuela real property tax payments.

BSP signs cooperation agreement with Czech central bank

THE Bangko Sentral ng Pilipinas (BSP) has signed a memoradum of understanding (MoU) on cooperation with the Czech National Bank covering information exchange and regulatory cooperation.

Peso closes higher after mild US inflation report

THE peso strengthened on Friday after the US reported milder-than-expected inflation data and as hopes were raised for progress on the US-China trade dispute.

Bargain hunt makes PSEi bounce back above 7,000

THE MAIN INDEX clawed its way back above the 7,000 mark on Friday from Thursday’s worst year-to-date finish on bargain hunting and signs that Sino-US trade tensions could ease.

From the Front Page: Rice imports ‘unimpeded’, FDIs surged, Inflation peaked?

By SparkUp Team Following a fresh nine-year high logged in September, top officials are conflicted over whether we’ve seen the peak for inflation this year....

WB mulls $100-million loan for Mindanao’s agriculture

THE World Bank is considering a $100-million loan to boost agricultural productivity and integration of small farmers and fisherfolk in value chains in Mindanao.

DTI, manufacturers agree to hold bread, flour prices

THE Department of Trade and Industry said it has convinced some bread and flour manufacturers to stall price increases until the holiday season.

159 Boracay establishments cleared for operation

THE Department of Environmental and Natural Resources announced on Friday that it has already issued Certificates of Conditional Approval (CCAs) to 159 establishments in Boracay.
electric pylons

Mindanao projected to need 10,200 MW additional capacity by 2040

DAVAO CITY — Energy officials said more investors are needed in the power supply sector, particularly for Mindanao, to meet the island’s projected 10,200-megawatt (MW) additional capacity requirement by 2040.

Locsin appointed next DFA chief

PERMANENT Representative to the United Nations (UN) Teodoro L. Locsin, Jr. is the next Foreign Affairs Secretary.

Nancy Binay, Dela Rosa lead Day 2 of filing of candidacies

REELECTIONIST Senator Maria Lourdes Nancy S. Binay on Friday filed her certificate of candidacy (CoC) at the Commission on Election (Comelec) amid rivalry between her siblings over the Makati City mayoral post.

Carpio accepts CJ nomination, JBC extends application

ASSOCIATE Justice Antonio T. Carpio confirmed on Friday that he has accepted his automatic nomination for Chief Justice.
Nicanor Faeldon

Faeldon appointed BuCor chief

PRESIDENT Rodrigo R. Duterte has appointed Nicanor A. Faeldon, Department of National Defense (DND) deputy administrator of the Office of Civil Defense, as director-general of Bureau of Corrections, Justice Secretary Menardo I. Guevarra said on Friday.

DOJ submits opposition to Trillanes appeal in rebellion case

THE Department of Justice (DoJ) opposed an appeal by Sen. Antonio F. Trillanes IV to reverse the order of Makati Regional Trial Court (RTC) Branch 150 for his arrest and travel ban and the reception of evidence.

Groundbreaking set on Marawi’s rehabilitation

THE groundbreaking of the rehabilitation of Marawi City’s most affected area is scheduled on Oct. 17, a year after the Islamic City’s liberation from Islamic State terrorists, Task Force Bangon Marawi chair Eduardo D. Del Rosario said on Friday.

Set yourself up for success: Goal-setting for wellness

How to set the right kind of goals for maximum results.

Today’s tech revolution needs leaders with the right ‘heartware’

The Fourth Industrial Revolution needs a modern leader.

DENR lifts ECC suspension for compliant Boracay establishments

THE Department of Environment and Natural Resources has lifted the suspension on the environmental compliance certificates (ECC) of “complying” businesses in Boracay, weeks ahead of the island’s reopening to the general public.

Fintech lender First Circle to expand, boost financial literacy nationwide

Online lending firm First Circle to boost lending across nation, region.

Reimagining PUVs

The Public Utility Vehicle Modernization Program is a large-scale initiative of the Philippine government aimed at transforming the entire public transportation system. Launched by...

A push to safer and modernized public transport

Compared to its neighboring countries like Malaysia and Singapore, the Philippines has long been left behind when it comes to modernization of the mass...

2018 FINEX Conference puts the spotlight on innovation

The world is about to change even faster. To stay relevant and ahead of the curve, organizations and institutions have to constantly innovate and...

Nestor A. Espenilla, Jr.: An icon of grit and perseverance

Since taking up office as the fourth Governor of the Bangko Sentral ng Pilipinas (BSP) on July 3 last year, Nestor A. Espenilla, Jr....
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S&P says risk buffers sufficient for now

THE PHILIPPINES and other emerging markets have enough buffers to cushion the blow of rising interest rates, slower global growth and weaker currencies, S&P Global Ratings said.

Index tracks improved PHL human capital

THE PHILIPPINES’ human capital improved over the past six years, according to the World Bank, which said the country improved on this count better than expected though it still fell short of the regional average due to productivity gaps.
Diwa C. Guinigundo

BSP ready to tighten policy again if needed

THE BANGKO SENTRAL ng Pilipinas (BSP) is ready to tighten monetary policy further to rein in prices and support the peso if needed, Deputy Governor Diwa C. Guinigundo said.
tax filing

Two more tax reforms move towards final House OK

THE HOUSE of Representatives on Wednesday night approved on second reading a proposed reform that will give the government a bigger share in miners’ revenues and will standardize real property valuation and assessment by local governments.

Captivating Stockholm: Small, old city packs a wallop

OUR beeline to Sweden takes us to Dubai in the Middle East, then another six-hour-plus flight to the Nordic country. A cogently woven tapestry of green and glistening swirls of water comes into view as the plane descends and breaks through a cloud bank. Arlanda International Airport goes up to meet us; a gateway into Sweden within the Stockholm County, but still some 40 kilometers south of the city that bears the name.

Sept. auto sales fall 9.7%

VEHICLE SALES slipped nearly 10% year-on-year in September, according to the joint report issued by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA).

Peso depreciation weighs on energy companies

ENERGY COMPANIES have counted the cost of the peso depreciation against the US dollar, prompting them to adopt measures to soften the impact on their finances, operations and investment decisions.

2 romances, a horror flick, and a family drama make up the final four...

AFTER MONTHS of waiting, the Metro Manila Film Festival (MMFF) selection committee finally announced the final for of eight film entries which will be featured in the festival’s run from Dec. 25 to Jan. 7 in cinemas nationwide.

AboitizPower gets SEC go signal to issue 2nd tranche of bonds

ABOITIZ POWER Corp. has received the certificate of permit to sell securities on Thursday from the Securities and Exchange Commission (SEC), it told the...

Bautista and Ledesma focus on Streisand, Legrand and Groban

LISTEN to the classic songs of Barbra Streisand and Michel Legrand alongside the more contemporary hits of Josh Groban as sung by vocal heavyweights, Kuh Ledesma and Christian Bautista at the Tent in Solaire Resort and Casino in Parañaque City on Oct. 20.

Labor dep’t may require ‘women’s desk’ at work

THE Department of Labor and Employment (DoLE) said it is in the considering establishing a “women’s desk” in its regional offices within the year and may ask workplaces to set up desks of their own to deal with women’s work-related concerns.
Makati skyline

PHL listed firms lagging behind in sustainability reporting

PUBLICLY LISTED companies fell short when it came to publishing sustainability reports as part of their good corporate governance initiatives, amid increasing awareness on the importance of sustainability to move businesses forward.

Foreign portfolio investments yield net outflow

MORE FOREIGN CAPITAL exited the Philippines in September, marked by sustained net foreign selling of local stocks amid concerns on surging consumer prices and a weaker peso, the central bank said yesterday.

Drake, Ed Sheeran most streamed Spotify artists of last decade

THIS WEEK marks the 10th anniversary of the public debut of Spotify, and the streaming service has released a few all-time “most-streamed” lists. Think of them as global playlists for the last decade of your life.

Low-cost carriers fueling growth of South Korean tourism to PHL

LOW-COST carriers (LCC) are fuelling the growth of traffic between the Philippines and South Korea, accounting for 40% of the capacity linking the two countries, an aviation think tank said.

PBCom looks at agency banking, small branches

PHILIPPINE Bank of Communications (PBCom) is eyeing to open branch-lite units and deploy cash agents as it maximizes its synergy with the Puregold network.