Home 2019 January 4

Daily Archives: January 4, 2019 | 8:06 pm

Gov’t eyes global bond sale with longer tenors

THE GOVERNMENT is readying the offer of dollar-denominated offshore bonds, looking at longer tenors as US treasury yield spreads tighten in the face of uncertainty in the world’s biggest economy.

December inflation slowest in seven months

THE OVERALL year-on-year increase in prices of widely used goods eased for the second straight month in December by its slowest pace in seven months, the Philippine Statistics Authority reported on Friday, giving the central bank room to consider the impact of its next monetary policy moves on economic growth.
assembly line

Factory output growth slows for fourth straight month

MANUFACTURING growth decelerated for the fourth consecutive month in November to its slowest pace so far in 2018, even as it was better than the year-ago contraction, the Philippine Statistical Authority reported on Friday (PSA).
Emmanuel F. Piñol

Piñol orders sacking of NAIA quarantine team amid threat of African Swine Fever

DEPARTMENT of Agriculture (DA) Secretary Emmanuel F. Piñol ordered on Friday the sacking of quarantine team of the Ninoy Aquino International Airport (NAIA) after their failure to establish quarantine measures on the entry of pork products from countries affected by African Swine Fever (ASF).

PNP: Hitman in Batocabe murder surrenders

THE Philippine National Police (PNP) on Friday confirmed the arrest of Henry Yuson, the alleged hitman behind the DEc. 22 assassination of Ako Bicol Rep. Rodel M. Batocabe.

Duterte considering road user’s tax for disaster relief in Bicol

PRESIDENT Rodrigo R. Duterte wants to use the road user’s tax collected by the Road Board to fund infrastructure and flood control projects aimed at improving Bicol region’s preparedness against disasters.

Officials call for calm in Cotabato City in run-up to BOL plebiscite

SECURITY and peace process leaders met with local officials Thursday afternoon to ease rising tension in Cotabato City in the aftermath of the Dec. 31 bombing and the run-up to the Bangsamoro Organic Law (BOL) plebiscite on Jan. 21.

Preparations in place for annual Black Nazarene procession

MANILA Mayor Joseph E. Estrada suspended classes on Jan. 9, Wednesday, in all levels of public and private schools in Manila as security preparations are geared up for this year’s Traslacion or the procession of the Black Nazarene.

Estrella-Pantaleon Bridge closed for 30 months beginning Jan. 12

THE Department of Public Works and Highways (DPWH) will close for 30 months the Estrella-Pantaleon Bridge, which connects Makati City and Mandaluyong City, beginning Jan. 12, both the DPWH and the Metro Manila Development Authority (MMDA) announced on Friday.

Investors take heart from weaker inflation

PHILIPPINE EQUITIES climbed for a fifth straight trading day on Friday on the back of investor optimism in the face of easing inflation, with consumer stocks particularly benefiting from the latest price data.

Clark Airport concession holder to invest P6 billion

THE North Luzon Airport Corp. (NLAC) said it is investing about P6 billion to fit out the new terminal at Clark International Airport, bringing it up to an annual capacity of eight million passengers.
Department of Energy (DoE)

DoE to require PSAs for ‘nationally significant’ projects

THE Department of Energy (DoE) will not issue certifications for energy projects of national significance (EPNS) if an applicant has no power supply agreement (PSA) in place, officials said.

DoLE lifts ban on Boracay work permits for foreigners

THE Department of Labor and employment (DoLE) has lifted the suspension on the issuance of work permits for foreigners in Boracay, following the reopening of the island on Oct. 26 after a six-month rehabilitation.

Makati beats 2018 revenue target in first 11 months

THE Makati City government said it collected revenue of P16.86 billion in the 11 months to November, mainly from business tax and real estate tax, beating its P15.67 billion full-year target.

DA to build seed storage domes in Cagayan Valley

THE Department of Agriculture (DA) Regional Field Office No. 2 (RFO-02) said it will start operating this year a P10 million dome as a storage facility for seeds and other farm inputs, which can double as a shelter during calamities.

ICTSI wins 20-year concession for Sudan terminal

INTERNATIONAL Container Terminal Services Inc (ICTSI) signed a 20-year concession agreement with Sea Ports Corp. of Sudan (SPC) to operate, manage and develop the South Port Container Terminal (SPCT) at Port Sudan.

ERC approves PEMC loan repayment plan

THE Energy Regulatory Commission (ERC) has approved in part the application of the Philippine Electricity Market Corp. (PEMC) to repay a loan amounting to about P817 million to build its electronic market management system through unused funds and additional transaction fees.

BSP’s Espenilla goes on medical leave again

BANGKO Sentral ng Pilipinas Governor Nestor A. Espenilla, Jr. will be on leave for more than two weeks to seek medical treatment overseas.
BoT treasury

Retail bonds seen as fallback if treasury auctions falter — ANZ

THE Bureau of the Treasury (BTr) will likely tap the retail bond market should there be any shortfall in demand in the coming government security auctions, ANZ Research said.

Peso rebounds as Dec. inflation recedes

THE peso rebounded against the dollar on Friday following the release of weaker-than-expected December inflation data.

November MISSI

By Mark T. Amoguis, Researcher Manufacturing output eased further in November, the government reported this morning. Preliminary results of the Philippine Statistics Authority's (PSA) latest Monthly...

December inflation slowest in seven months

By Carmina Angelica V. Olano, Researcher Inflation eased for the second straight month in December by the slowest pace since May's 4.6%, helped by slower...
tax collector

BIR checking drink firms’ tax compliance

THE GOVERNMENT is now checking beverage makers’ compliance with tax laws, the Department of Finance (DoF) said in a press statement on Thursday, citing a shortfall in excise tax collections in the 10 months to October last year.
West Philippine Sea

Gov’t moving to allow work to resume at gas field in disputed waters

THE DEPARTMENT of ENERGY (DoE) is recommending to the Department of Foreign Affairs (DFA) the end of the suspension of exploration in a disputed South China Sea area covered by Service Contract (72), after PXP Energy Corp. -- the company with the biggest stake in the project -- submitted its request to pursue its work program, Energy officials said on Thursday.
Kidlat Tahimik 1

Kidlat Tahimik: the technocrat and his duende

At age 76, Kidlat Tahimik (aka Eric De Guia) is among the younger National Artists, and happens to be the only one alive for Cinema. Further, among this tiny elect group, he is the only Wharton MBA holder, with a c.v. which includes a stint as a researcher for the Organization for Economic Cooperation and Development (OECD). This was before he symbolically tore up his Wharton diploma (he didn’t totally trash it though), and followed his bliss as an artist. Or as he has stated elsewhere, he let his duende come through. This duende is not the squeaky voiced gnome of lower Philippine mythology, but the inner demon or the spirit of genius which inspires and animates true artistry. See the Spanish writer Federico Garcia Lorca’s “Theory and Play of the Duende.” As Kidlat Tahimik declared in his film Mababangong Bangungot (Perfumed Nightmare) which is essentially his artist’s manifesto: “When the typhoon blows off the cocoon, the butterfly embraces the sun.”

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Taichung World Flora Exposition

Five destinations that show there is more to Taiwan

WITH Taiwan waiving visa requirements for Filipinos, it shouldn’t come as a surprise that it ranked as the third top destination for travelers from the Philippines using the Agoda online booking platform.
shopping supermarket

GDP growth slowdown expected to persist

ECONOMIC EXPANSION will likely ease further in 2019 as last year’s interest rate hikes are expected to pull down consumer spending, Natixis Research said, even as it noted that the Philippines will remain “resilient” to global slowdowns.

SMIC ‘cautiously optimistic’ this year

SM INVESTMENTS Corp. (SMIC) said it is “cautiously optimistic” on the economy this year, while expecting its businesses to sustain its growth.
Energy World Philippines

Energy World Philippines gets go signal to build LNG facility

THE local unit of Australia’s Energy World Corp. Ltd. (EWC) has taken the lead in the race to build an integrated liquefied natural gas (LNG) facility in the Philippines as its proposal has been cleared by the Department of Energy (DoE).
Oscar 1

This year, Oscar is more likely to go to a film you have actually...

THIS YEAR’S Oscar race is one of the most wide open in recent memory, giving some big-studio blockbusters a shot at the best-picture crown after years of victories by indie darlings.
Pilipinas Shell

Philex Mining taps Pilipinas Shell as fuel supplier

PHILEX Mining Corp. has tapped Pilipinas Shell Petroleum Corporation to supply fuel for its operations.
Salvador C. Medialdea and Rodrigo R. Duterte

Palace authorizes extension of 2018 maintenance, fund

PRESIDENT Rodrigo R. Duterte signed a resolution extending the availability of the 2018 national budget for the maintenance and other operating expenses (MOOE) and capital outlay (CO), pending delays in the passage of the 2019 budget, Executive Secretary Salvador C. Medialdea said Thursday.
Supreme Court

SC ruling sought on foreign gov’t ownership of third player

THE Supreme Court (SC) has been asked to review the award of third-player status to a consortium led by Mindanao Islamic Telephone Company Inc. (Mislatel), with the tribunal pressed to clarify whether a consortium member, which is owned by a foreign government, can invest in public utilities.
Woodstock ticket

Multigenerational event set to mark 50th anniversary of Woodstock this year

FIFTY YEARS after the Woodstock music festival became one of the watersheds of hippie counterculture, an anniversary event will take place in August 2019 on the same field north of New York City.
The Garden Okada Manila

TRAL says ongoing dispute with Okada won’t affect tender offer

TIGER RESORT Asia Limited (TRAL) has amended its tender offer report to reflect its ongoing cases with Japanese gaming businessman Kazuo Okada, but noted that this will have no significant impact on the transaction.
DPWH logo

House panel finds flood control projects prone to insertion

THE House Rules Committee found that P14.5 billion of the P75 billion worth of augmentations to the 2019 national budget of the Department of Public Works and Highways (DPWH) was allocated to low-priority flood control projects.
Kanye West and Kim Kardashian

Kim, Kanye expecting 4th child; West repeats support for Trump

LOS ANGELES -- Kim Kardashian and Kanye West are expecting a fourth child -- again using a surrogate, according to multiple media reports on Wednesday.
gas pump

Six fuel sellers jump the gun on collecting new tax

THE Department of Energy (DoE) has ordered six gasoline stations of Petron Corp. to explain why they prematurely collected excise and value-added taxes on gasoline and diesel products sold at the turn of the year.
coffee shop facade

How this coffee start-up plans to overtake Starbucks in China

BEIJING -- Chinese coffee start-up Luckin is aiming to open 2,500 new stores this year and overtake Starbucks Corp. as the largest coffee chain by number of outlets in the world’s second-biggest economy, it said on Thursday.

All PHL banks, credit card issuers complete shift to EMV technology

ALL BANKS and credit card issuers have fully migrated to chip-based cards as of end-2018, the Bangko Sentral ng Pilipinas (BSP) said, which comes after a four-year transition period.
box office 1

Superhero movies prove indestructible, lift N. American box office to record high

DESPITE THREATS from streaming services and an overall feeling that Hollywood is bereft of new ideas, the movie industry turned in its best year ever in 2018, with the US leading the way to almost $42 billion in global ticket sales.
Davao Light and Power Company, Inc. (DLPC) bldg

AboitizPower unit sets P1.5-B capex for 2019

DAVAO CITY -- Aboitiz Power Corp. subsidiary, Davao Light and Power Company, Inc. (DLPC) is allocating a capital expenditure (CAPEX) of about P1.5 billion this year, which will be used for an underground cable system in Davao City and its rural electrification program.

Election year seen boosting job creation

THE Bureau of Labor Employment (BLE) said jobs created in 2019 may exceed 1 million, with the services sector expected to come on strong in an election year.

RCBC’s Rizal MicroBank sees loans growing by 27-30% this year as it ramps up...

THE THRIFT banking subsidiary of Rizal Commercial Banking Corp. (RCBC) expects to sustain its lending growth this year as it plans to improve the efficiency of its channels.