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Yearly Archives: 2019

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BMW rolls out all-new 3 Series, Z4 Roadster

THE LATEST iteration of the car that created the sports sedan segment has landed on Philippine shores. And making for an even bigger splash is its accompaniment by its sexy roadster sibling.

MPTC may consider Cavitex extension to Sangley

METRO PACIFIC Tollways Corp. (MPTC) said it may consider building an extension from the Manila-Cavite Expressway (Cavitex) connecting to the Danilo Atienza (Sangley) Air Base once the government firms up plans to use the gateway for commercial purposes.

Britain’s greatest test driver, Norman Dewis OBE, passes away

COVENTRY, UK -- The man responsible for developing some of the most iconic Jaguars ever, Norman Dewis OBE, has passed away at age 98. Over a 33-year career with Jaguar, Dewis’ fearlessness, extraordinary talent and friendly, humble demeanor helped establish him not only as Britain’s greatest ever test driver, but a veritable legend and a dedicated friend to the Jaguar brand.

Foreign business leaders boost Mindanao promotion in Davao conference

DAVAO CITY -- Chinese delegations from the cities of Jinjiang and Nanning have arrived in the city more than a week ahead of the Davao Investment Conference 2019 (Davao ICON 2019) slated on June 20 to 21 to look into possible areas of collaboration.

Rules for distributing RCEF farm mechanization funds due soon

THE Philippine Center for Postharvest Development and Mechanization (PhilMech) said it will finalize after a key meeting this week the guidelines for funding the farm mechanization component of the Rice Competitiveness Enhancement Fund (RCEF).

Toyota returns to Clark for more inclusive Vios Racing Festival

TOYOTA MOTOR Philippines (TMP) brought its premier motorsports program back to its roots at the Clark International Speedway in Pampanga, with the staging of the Vios Racing Festival last July 8.

Luxasia to bring in more brands

SINGAPORE-BASED beauty distribution company, Luxasia Pte. Ltd., has named the Philippines as a potential “growth pillar in the Asia Pacific region in terms of global beauty sales,” according to the company’s chief executive as the company unveils regional expansion plans and introduces more brands to its Philippine portfolio.

ICTSI stock price rises on planned terminal expansion in Croatia, net foreign buying

INVESTORS snapped up shares of International Container Terminal Services, Inc. (ICTSI) on news its subsidiary in Croatia has started a year-long expansion of its terminal at the Port of Rijeka to accommodate larger vessels.

Chicken producer Perdue enters crowded plant-based meat market

PERDUE FOODS, one of America’s largest chicken producers, said it will sell frozen chicken nuggets mixed with cauliflower, chickpeas and plant protein to address a growing demand for products combining meat and vegetables.

J.D. Power U.S.A. awards Porsche 911 as Most Dependable Model 2019

THE PORSCHE 911 is the highest-ranked model in J.D. Power U.S.A.’s Vehicle Dependability Study 2019. This is the first year that a Most Dependable Model has been awarded.

Ultra-luxurious hideaway in the middle of the city

IT’S EASY to blow P500,000 in a day. You can buy mounds of jewelry, buy out a store, or drop a downpayment for a car. Integrated entertainment property and rich people-playground Okada gives you a new way to spend P500,000 in a day, and we’re not talking about the casinos.

Mexico studying avocado exports to Davao City

DAVAO CITY -- Mexico is exploring the possibility of exporting Hass avocados and limoncito, a citrus-like fruit, to Davao City, according to Mexico Ambassador Gerardo Lozano.

FOTON displays new commuter vehicles at LTO Motor Show 2019

FOTON Motor Philippines, Inc. (FMPI), the exclusive distributor of FOTON vehicles in the Philippines, showed off its latest commuter vehicles in the 107th Anniversary of the Land Transportation Office in LTO East Avenue, Quezon City, last May 21 to 24.

Amway’s Paris style

AMERICAN direct-selling company Amway has brought to the Philippines the second collection off of its Artistry Studio line which takes its name and design cues from Paris. It features three eyeshadow palettes, cheek and lip duos, liquid lip colors, brow shapers, and a setting spray.

PLDT in talks with Huawei, 4 others for 5G network equipment

PLDT, Inc. said it is expecting to secure its vendors for fifth-generation (5G) network equipment before the year ends as it targets the commercial launch of the advanced network by the fourth quarter of the year.
BoT BTr treasury

T-bill rates may rise ahead of Fed

RATES OF Treasury bills (T-bill) on offer today are likely to move sideways with a slight upward bias as the market awaits the result of the Federal Open Market Committee’s (FOMC) meeting this week and the release of the government’s third quarter borrowing program.

Ottawa expands insurance for Canadian canola exporters amid China dispute

OTTAWA/WINNIPEG, MANITOBA -- Ottawa increased the insurance coverage available for canola exporters, a government corporation said on Thursday, as it seeks to reduce trade risks amid a dispute with China.

Nissan, Shell Fuels unite to deliver exciting customer initiatives

NISSAN, the Philippines’ third largest automaker in automotive sales, is partnering with Shell Fuels to give customers in the Philippines a chance to win free fuel for five years. The initiative is part of several customer-focused activities developed by the two global brands.

Physical therapy clinic introduces new way to heal

LOOKING for ways to better serve its clients and expand the services it offers, physical therapy clinic Almario Physio Team (APT) has come with a new program which it touts as an “error-free method” for treating recurring pain.

Tanduay targets 10% sales volume growth this year

TANDUAY Distillers, Inc. (TDI) is targeting to grow sales volume by 10% this year, as it plans to expand overseas distribution of its products.

Yields on gov’t debt drop

YIELDS ON government securities (GS) edged lower as they continued to track US Treasuries’ decline due to a possible Federal Reserve rate cut within the year.

Brazil lifts suspension of beef exports to China

SAO PAULO -- Brazil’s government said on Thursday it has lifted a suspension of beef exports to China after dealing with an atypical case of mad cow disease, sending shares of Marfrig Global Foods, Minerva SA and other Brazilian meatpackers soaring.

All-new Subaru Forester wins Grand Prix Award

TOKYO -- Subaru Corporation announced recently that the all-new Forester won the Grand Prix Award for earning the highest score (five stars) in the Japan New Car Assessment Program (JNCAP) collision safety performance assessment conducted by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) and the National Agency for Automotive Safety and Victim’s Aid (NASVA).

Fashion for the future: London students present sustainable designs

LONDON -- Clothes grown from slime mould and tupperware handbags were among the environmentally friendly designs and ideas presented by fashion graduates at a London arts school.

Pag-IBIG gets highest opinion from CoA anew

THE Home Development Mutual Fund (Pag-IBIG) said it has secured the highest opinion from the Commission on Audit (CoA) for the seventh straight year.

BMW 7 Series plug-in EV to make PHL debut in July or Aug.

ON THE SIDELINES of the recent launch of the all-new versions of BMW’s Z4 and 3 Series, this writer had an exclusive interview with BMW Group Asia Managing Director Christopher Wehner. The executive had mentioned in a speech that the Munich-headquartered car maker was poised to systematically launch a total of 25 electrified vehicles by Year 2025.

Using infrared rays for rejuvenation

IMAGINE the rays of the sun, which give life to all things on earth, being harnessed in a machine that heals your body. That’s the promise of Vital Dome, an infra-therapy ecosystem machine.

Philex targets environmental compliance certificate for Silangan mine by Q3

PHILEX Mining Corp. is aiming to secure its environmental compliance certificate (ECC) for the Silangan mine project by the third quarter.

Peso seen steady as mart awaits Fed, BSP reviews

THE PESO is expected to be broadly steady this week ahead of the policy meetings of the local and US central banks and as global crude oil prices stay within four-month lows despite growing tensions in the Middle East.

Trump trade blows fail to slow Mexican demand for US wheat

MEXICO CITY -- Mexican bread and flour tortilla makers will likely use significantly more wheat sourced from the United States this year despite growing unease with President Donald Trump, according to Mexico’s main wheat chamber.

Shares seen to rally ahead of Q2 earnings reports

LOCAL SHARES are seen to firm up this week as companies are expected to report good earnings results for the second quarter.

How PSEi member stocks performed — June 14, 2019

Here’s a quick glance at how PSEi stocks fared on Friday, June 14, 2019.  

Trends in the food industry

The food service industry in the Philippines is growing at a phenomenal rate and everyone wants a part of it.

Hong Kong’s rights and freedoms

Hong Kong might be called the unwanted love child of the British and the Chinese, from an ill-fated port romance, when Western merchant sailors crossed vast oceans for half a year to see what could be had from the beautiful East.

Why President Duterte’s senate bets won

Why did President Duterte’s Senate bets win?

Hope and change

Several years ago, I, a starry-eyed millennial, had a chance to visit South Africa. It was a learning experience.

Napocor projects in Palawan qualify for expedited approvals

THE Department of Energy (DoE) has designated Palawan capacity addition and transmission projects proposed by the National Power Corp. (Napocor) as energy projects of national significance (EPNS), a milestone that allows for expedited approvals for such projects.

Fruit exports, auto parts imports seen key to South Korea FTA

THE Department of Trade and Industry (DTI) said it will seek to balance of the interests of the agriculture industry, which wants to export more produce to South Korea, and the auto and parts industry, which might be disadvantaged by Seoul’s demands for lower tariffs for its products.

Recruiters of Hong Kong-bound domestic workers agree to code of conduct

A RECRUITMENT organization authorized to hire workers bound for Hong Kong has signed an agreement with the International Labor Organization (ILO) to observe best practices in recruiting domestic workers.

Multiple agencies regulating mining foster corruption — PIDS

THE regulatory regime for the mining industry creates corruption opportunities because of the need to obtain clearances from multiple agencies, according to government think tank the Philippine Institute of Development Studies (PIDS).

CTA rejects BoC appeal on PAL P137.1-M tax refund

THE Court of Tax Appeals (CTA) has denied for lack of merit a motion for reconsideration filed by the Bureau of Customs (BoC) over the P137.1-million tax refund granted to Philippine Airlines, Inc. (PAL) in connection with the airline’s imports of aviation fuel.

Foreign debt rises 1.9% in first quarter vs. end-2018

EXTERNAL debt rose 1.9% quarter-on-quarter to $80.4 billion in the first three months, equivalent to 24% of gross domestic product (GDP), according to the Bangko Sentral ng Pilipinas (BSP).
Court of Tax Appeals-CTA

San Miguel Brewery excise tax refund partly granted

THE Court of Tax Appeals (CTA) has partially granted the excise tax refund claim of San Miguel Brewery, Inc. worth P44.5 million, which was erroneously collected on its beer products in 2015.

VAT refund claims under the TRAIN Law

Taxpayers are sometimes reluctant to file VAT refund claims because it triggers a mandatory VAT audit, not to mention the need to submit voluminous of documents and the uncertainty of when the processing will be completed. Any delay in the processing of a VAT refund claim may cause cash flow problems to the claimant because the input VAT remains unutilized when it could have been invested or used as working capital.