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Monthly Archives: January 2019


Shares fall ahead of US-China talks, Fed review

LOCAL EQUITIES fell on Wednesday as investors chose to pocket profits ahead of trade talks between the United States and China, as well as the upcoming decision of the US Federal Reserve.
peso dollar bills

Peso strengthens further

THE PESO strengthened further against the dollar on Wednesday as investors continued to price in expectations of a dovish US Federal Reserve as its latest policy review concludes.

2 dead in grenade attack at Zamboanga mosque

ANOTHER BLAST rocked southern Philippines in the early morning of Jan. 30, this time at a mosque in Zamboanga City in mainland Mindanao, killing two people and wounding at least four others.

Revilla, others sought to settle P124.5-M PDAF liability

PROSECUTORS of the Office of the Ombudsman have filed a motion asking the Sandiganbayan to execute its decision that former senator Ramon B. Revilla, Jr. should “jointly” pay P124.5 million with co-accused Richard A. Cambe and Janet Lim-Napoles, in connection with their plunder case.
National Economic and Development Authority (NEDA)

NEDA submits to Duterte report on sexual harassment complaint

THE National Economic and Development Authority (NEDA) on Wednesday said its report on the sexual harassment complaint filed against one of its officials has been transmitted to President Rodrigo R. Duterte for his action.

NDFP peace talks consultant shot dead

NATIONAL DEMOCRATIC Front of the Philippines (NDFP) peace talks consultant Felix Randy P. Malayao, Jr. was shot dead inside a bus at the CCQ Bus Terminal in Aritao, Nueva Vizcaya early morning on Jan. 30.

Illegal factory of toxic insecticides in Pampanga busted

A SUPPOSED warehouse inside the Global Aseana Business Park in San Simon, Pampanga was raided last Friday and confirmed to be a clandestine factory for fake and toxic insecticides, the Bureau of Customs (BoC) reported on Thursday.

Jobs fair set for displaced Hanjin workers

A JOBS fair for at least 3,000 affected workers of Hanjin Heavy Industries and Construction Corp. Philippines (HHIC-Phil), which has declared a debt default, will be held on Feb. 9 at the Subic Gymnasium.

Urban development takes its toll on Cebu City’s rivers and creeks

SOME DOWNSTREAM parts of Cebu City’s rivers are already considered dead, while several are already too polluted to sustain a healthy ecosystem, according to the Cebu City Environment and Natural Resources Office (CCENRO).

Mayor calls for ‘no backpack’ policy in Davao City’s places of worship

A “NO backpack” policy in all places of worship has been ordered in Davao City to help security forces monitor more easily potential terror threats following Sunday’s bombing of a Catholic church in Jolo, Sulu.

Classes resume in Tagum City, except in 9 barangays still affected by flooding

CLASSES FOR all levels, both public and private schools, in nine villages in Tagum City remained suspended as of Wednesday due to floods following rains over the weekend.

More than 40 NPA members surrender in Jan. — EastMinCom

ARMED MEMBERS of the communist movement, including 29 from the New People’s Army (NPA) and 14 from its allied Militia ng Bayan, surrendered this month, according to the military’s Eastern Mindanao Command (EastMinCom).

Nation at a Glance — (01/31/19)

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

The rewards of sustainability and energy efficiency

The United Nations Development Program (UNDP) contends that unsustainable patterns of energy production and consumption pose a threat to human health and quality of...

A blueprint for a powered future

The Department of Energy (DoE) has set a grand plan back in 2017, named the Philippine Energy Plan 2017-2040 (PEP), aimed towards preparing the...

A robust local office market

Despite slower economic expansion in 2018, the Philippine real estate industry remained resilient as a result of strong demand in its major segments, especially...
Clark Global City

The near future of Philippine office space

Owing to the country’s continued economic growth, powered by growing consumption and ongoing infrastructure development, the Philippines is on the fast track towards prominence...

BSP signals ‘prudent’ policy steps up ahead

THE CENTRAL BANK will be “prudent” in setting monetary policy this year, with an official hinting that a pause in rate hikes could be in the cards now that inflation has been dropping.
cigarettes sin tax

Senate body finalizing bill raising tobacco tax

THE SENATE Ways and Means committee aims to report for plenary action by Feb. 6 the bill further increasing excise taxes on tobacco products before Congress takes its Feb. 7-May 19 break.
tax collector

Tax bureau increases collections from 2017 but misses 2018 target

THE BUREAU of Internal Revenue (BIR) -- which contributes about three-fourths of total government tax revenues -- grew collections by a tenth last year from 2017, although it fell short of its target by four percent, according to data released at a hearing on Tuesday of the House of Representatives Ways and Means committee.
Ray C. Espinosa

Meralco names incoming president

MANILA ELECTRIC CO. (Meralco), the country’s biggest power distributor, has named Ray C. Espinosa as its incoming president and chief executive officer (CEO) when Oscar S. Reyes retires in May.

To protect and preserve: the challenge for Malang’s children

ALMOST two years after his passing, Mauro “Malang” Santos remain a formidable figure in Philippine art and the broader Asian scene. His works continue to be featured regularly in local and international auction houses with bond paper-sized works on paper fetching anywhere between P200,000 to P500,000 and small works on canvas being sold upwards of P1 million.

Listen to the music of the night again

GOOD news for those who missed it the first time it came to Manila in 2012 and for those who wish to see it — and its famous chandelier — again, The Phantom of the Opera is back in town.

NCCA names beauty queen, actors as new ambassadors for Nat’l Arts Month

CELEBRITIES, thanks to their clout among their fans, make good endorsers. But beyond influencing us to buy and consume more T-shirts and face creams, four Filipino stars are now the ambassadors of far more important things, our arts and culture, with the goal of bringing them closer and making them more relevant to more people.

Japan’s ANA invests $95M in PAL

ANA HOLDINGS, Inc. (ANA HD), parent of Japan’s biggest airline All Nippon Airways, on Tuesday said it is acquiring a minority stake in the operator of Philippine Airlines (PAL) for $95 million (around P5 billion).

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Banksy homage to Bataclan stolen from Paris theater

PARIS — A mural by British street artist Banksy on a fire-exit door at Paris’ Bataclan theater, where Islamist militants killed 90 people three years ago, has been stolen, the venue said on Saturday.

Megaworld hikes capex by 8% to P65B

MEGAWORLD CORP. is allocating P65 billion for capital expenditures (CAPEX) this year, as the property developer continues expanding its residential, office, and mall projects across the country.

Russian police detain suspect after bold gallery heist

MOSCOW — Russian police said on Monday they had arrested a man caught on camera taking a painting off the wall of a major Moscow art gallery and strolling out with it under his arm.

Globe reports data breach affecting 8,000 customers

GLOBE TELECOM, Inc. said on Tuesday there has been a data breach on its system for the “On The List” program, affecting some 8,851 customers.

Van Gogh’s Sunflowers will stay home from now

AMSTERDAM — At 130 years old, one of Vincent van Gogh’s famous paintings of sunflowers in a vase has become too delicate to keep touring the world and will have to stay at home in Amsterdam.

AboitizPower to raise up to P16.8B from bond offer

ABOITIZ POWER Corp. (AboitizPower) is looking to raise up to P16.8 billion from the issuance of fixed-rate retail bonds within the second half of 2019.

Brit, Russian interest in Hitler watercolors expected

BERLIN — The pictures — three anemic watercolors showing a mountain scene, a river and a distant figure sat beneath a tree — are little different from wares on sale at flea markets the world over, except for the autograph scratched in the corner: “A.Hitler.”

POGOs to drive PHL property mart, but challenges seen

REAL ESTATE consultancy JLL Philippines said China’s contributions to the Philippine real estate market are critical, noting how the presence of Philippine Offshore Gaming Operators (POGOs) offset the slowdown of business process outsourcing (BPO) companies’ expansion in 2018.

Robinsons Bank eyes PSE listing

ROBINSONS BANK Corp. is eyeing to go public within the next four years as part of its plan to scale up its operations to become a universal bank.

CIMB launches PHL operations as all-digital bank

MALAYSIAN financial giant CIMB Bank formally launched its banking operations in the Philippines on Tuesday, more than a year after it received the central bank’s nod to set up shop here.

Transpacific Broadband to create common tower subsidiary

LISTED FIRM Transpacific Broadband Group International, Inc. (TBGI) is planning to incorporate a subsidiary that will serve as a common tower provider, amid the government’s push for independent companies to build telecommunications infrastructure.

Arts & Culture (01/30/19)

ANG APOLOGIA NI SOKRATES brings to stage the classic text in European Philosophy, written by Plato and translated from the original Greek by Roque J. Ferriols, SJ. Ateneo Philosophy teacher Jovi Miroy directs, while Aliw Awardee Ron Capinding essays the role of Socrates.

How PSEi member stocks performed — January 29, 2019

Here’s a quick glance at how PSEi stocks fared on Tuesday, January 29, 2019.

DoLE to require funding from Palace to aid Hanjin workers

THE Department of Labor and Employment (DoLE) said it will be studying a possible subsidy for the more than 3,000 workers of Hanjin Heavy Industries and Construction Corp. Philippines (HHIC-Phil) but will need funding assistance from Malacañang.
ASEAN flags

European firms see ASEAN falling behind schedule on integration

EUROPEAN businesses consider the economic integration of the Association of Southeast Asian Nations (ASEAN) to be well behind schedule due to the reluctance of individual members to liberalize their markets.
agreement businessman handshake

Trade dep’t guidelines outline preferences for domestic suppliers

THE Department of Trade and Industry (DTI) said it issued guidelines on the granting of certificates of preference to bidders participating in government procurement projects, which will allow the government to select certified bidders with higher offers than foreign suppliers.
Benjamin E. Diokno

House panel to issue show-cause order to DBM’s Diokno

THE House committee on appropriations on Tuesday agreed to the motion of Leyte 3rd district Rep. Vicente S.E. Veloso to issue a show-cause order to Secretary Benjamin E. Diokno of the Department of Budget and Management (DBM), allowing him to explain why he should not be cited in contempt for failing to appear in the hearings on alleged anomalies in the proposed 2019 budget.
magnifying glass peso bills

National government debt rises 9.6% in 2018

NATIONAL government debt rose by nearly a tenth in 2018 driven by increased borrowings and a weaker peso, with the Asian Infrastructure Investment Bank (AIIB) projecting financing costs to rise in the year ahead.
construction infrastructure Ormoc

StanChart sees 2019 GDP growth at 6.4%

GROWTH in the Philippines is expected to pick up this year with a rebound in consumption, analysts at Standard Chartered (StanChart) Bank said, noting that infrastructure spending will be the main “swing” factor.