Home 2019 February 1

Daily Archives: February 1, 2019 | 7:12 pm

Factory activity growth continues to slow in January

FACTORY activity in the Philippines moderately improved in January at the slowest pace in four months on softer output growth and decline in employment, although local manufacturers saw a rise in new orders, according to the latest survey IHS Markit conducted for Nikkei, Inc.
BIR bldg

Tax bureau sets P2.3-trillion collection goal in 2019

THE Bureau of Internal Revenue (BIR) is targeting to P2.33 trillion this year, 14% higher than the P2.04 trillion goal last year as it plans to introduce new reforms and leverage on technology to improve tax payments and collections.

Subway project to boost Philippine construction sector

By Denise A. Valdez, Reporter FITCH Solutions said it raised its growth forecast for the Philippine construction and railway sectors this year with the expected...

Bangladesh sues RCBC over cyberheist at New York Fed

NEW YORK — Bangladesh’s central bank on Thursday sued a Philippine bank to recoup losses it suffered when unidentified hackers stole $81 million from its account at the Federal Reserve Bank of New York nearly three years ago.

DILG Chief: Indonesian suicide bombers behind Jolo blast

INDONESIAN suicide bombers aided by the terrorist group Abu Sayyaf were behind the Sunday twin blasts at the Jolo Cathedral, Interior and Local Government Secretary Eduardo M. Año said Friday.
Leila M. De Lima

De Lima refuses to enter plea in drug case

DETAINED opposition Senator Leila M. de Lima on Friday refused to enter her plea in a Muntinlupa City court in connection with drug charges filed against her, saying these were fabricated.
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SWS: Optimism rebounds in economy, quality of life

FILIPINOS’ optimism over personal quality of life and the Philippine economy rebounded to “excellent” ratings in a fourth quarter survey by the Social Weather Stations (SWS).

Israel, Russia reaffirm ties with PHL

ISRAELI Ambassador Rafael Harpaz and Russian Ambassador Igor Khovaev paid courtesy calls to President Rodrigo R. Duterte on Thursday to reaffirm ties with the Philippines, Malacañang said on Thursday night.
Rolando G. Andaya, Jr.

Andaya flags some P50 billion in unused funds under DBM

HOUSE Appropriations Committee chair Rolando G. Andaya, Jr. flagged an estimated P50 billion in public funds “lying idle” in offices under the Department of Budget and Management (DBM) and Department of Trade and Industry (DTI).
PCOO-Harry-Roque1

Roque drops out of Senate race

FORMER presidential spokesperson Harry L. Roque, Jr. on Friday withdrew his senatorial bid, citing health concerns.
Makati buildings skyline

World Bank official flags impact of lack of competition on PHL economy

LACK OF competition hinders the country from making significant progress in reducing poverty, according to an official from the World Bank.
Department of Energy (DoE)

DoE orders review of performance of electric cooperatives

THE Department of Energy (DoE) on Friday ordered the review of electric cooperatives’ (ECs) financial and technical performance and warned those that failed to deliver of the cancellation of their franchises.
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DPWH starts construction of interchange near Philippine Arena

THE Department of Public Works and Highways (DPWH) started on Friday the construction of the P635-million Ciudad de Victoria Interchange near the Philippine Arena in Bocaue, Bulacan.

Phoenix Petroleum gives go-signal for JV with CNOOC

PHOENIX Petroleum Philippines, Inc. said on Friday that its board of directors gave the go-signal to enter into a joint venture with China National Offshore Oil Corp. (CNOOC) to operate liquefied natural gas (LNG)-related trade and services under its proposed LNG integrated hub project.

Merger of AC Education and iPeople seen within 1st half

AYALA Corp. on Friday said that its unit AC Education, Inc. and listed company iPeople, inc. had executed their plan and articles of merger as approved by the companies’ respective boards of directors and stockholders.
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SEC approves RFM consolidation of units

RFM Corp. said on Friday that the Securities and Exchange Commission (SEC) had approved on Jan. 31 the merger of the listed food and beverage company and its three subsidiaries.

More banks open branch-lite units

THE Bangko Sentral ng Pilipinas (BSP) saw lenders put up smaller branches last year, as it hopes improvements in financial inclusion will be achieved with recent regulations that boost account ownership and digital payments.
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Peso drops after Wall Street rally

THE peso declined on Friday as the dollar recovered following the Wall Street rally amid the release of upbeat corporate earnings.
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PSEi rallies as hopes rise on Trump-Xi meeting

LOCAL stocks rallied on Friday amid reports of the trade dispute between the US and China may soon be settled, and expectations the inflation rate will ease this year.


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Universal charges and that Solar para sa Bayan franchise bill

The Philippines’ expensive electricity is largely caused by 9-10 different charges slapped on our monthly electricity bill. As mentioned in an earlier paper in...
canned goods street market

BSP sees even slower Jan. inflation

THE OVERALL increase in prices of widely used goods likely dropped sharply in January for the third straight month, the Bangko Sentral ng Pilipinas (BSP) said, as lower rice prices and power rates may have offset higher fuel prices as the year opened.

Lawmakers move to spare infrastructure from poll ban as 2019 budget talks get back...

LAWMAKERS making up the bicameral conference committee now hammering out the final version of the proposed P3.757-trillion national budget for 2019 have committed to ensuring ratification next week, with the measure containing a provision that would spare new infrastructure projects from the 45-day public works ban ahead of the May 13 mid-term elections.
1000 peso bills

Dec. growth of money supply picks up, bank lending eases

MONEY SUPPLY grew faster in December amid the holiday cheer even as the pickup in bank loans eased anew, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday.

ISM mulls follow-on offering this year

ISM Communications Corp. said it may conduct a follow-on offering within the year depending on market conditions, following the entry of Davao-based businessman Dennis A. Uy’s group that would transform the firm into Udenna Holdings Corp.

A Valentine from Ogie and Mr. C

FOR SONGWRITERS, experience is an essential ingredient when composing a great love song.

Solid Cement gets BoI go signal

A UNIT OF Cemex Holdings Philippines, Inc. (CHP) has secured the Board of Investments’ (BoI) approval as a new cement manufacturer.

Jon Santos: Politics, entertainment, and more

OFTEN newspapers and online news outlets carry the president’s careless remarks on national issues which the Palace then dismisses as a joke. Last year, impersonator and comedian Jon Santos expressed used these issues to perform political satire, and this year he’s at it again.

Aboitiz unit secures P206-million contract

THE CONSTRUCTION arm of Aboitiz Equity Ventures, Inc. has secured the P206-million contract to design and construct an overhead transmission line for another Aboitiz-led company, Lima Enerzone Corp.

Hotel Sogo targets to have over 50 branches by 2020

HOTEL SOGO aims to have more than 50 hotel branches in the Philippines in 2020, according to its parent company.

Goodbye Hello: Unseen Beatles footage becomes movie project for Peter Jackson

LONDON — Lord of the Rings director Peter Jackson is making a movie about The Beatles with previously unseen studio footage, the band’s website said on Wednesday — 50 years to the day after the Fab Four performed live together for the final time.
nursing nurses

German program for nurses promises free work visas, language training

PHILIPPINE Overseas Employment Administration (POEA) Administrator Bernard P. Olalia said qualified nurse applicants to Germany will be entitled to free work visas, German language lessons and other perks under the agency’s partnership with the German government.

Universal is the first big Hollywood studio to sign the female-director challenge

UNIVERSAL PICTURES, part of Comcast Corp., became the first major movie studio to commit to the “4% Challenge,” a bid to rectify the lack of female directors in Hollywood.
Land Bank of the Philippines (LANDBANK)

LANDBANK gives PSE up to March 15 to decide on PDS offer

THE Philippine Stock Exchange (PSE) will get one more month to decide on the offer of Land Bank of the Philippines (LANDBANK) to buy out the remaining shares in the Philippine Dealing System Holdings Corp. (PDSHC).

Tubig Pilipinas bags Nabua water project

TUBIG PILIPINAS Group, Inc. has been awarded a P600-million joint venture project by the Nabua Water District to develop and handle the water supply and septage system of Nabua town in Camarines Sur province, the company said on Thursday.
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Professional coaches gaining foothold among workers, study finds

MORE FILIPINOS are using professional coaching services to improve their working performance and personal effectiveness, a consulting firm and a research firm said, citing the results of a joint study.

Analysts expect Bangko Sentral to cut reserve requirement ratio

More market watchers are growing certain that the Bangko Sentral ng Pilipinas (BSP) will kick off the year with cuts to bank reserves prior to any policy rate adjustments.

Michael Jackson’s family calls new docu ‘public lynching’

LOS ANGELES — The family of Michael Jackson on Monday described reaction to a new documentary about alleged child sex abuse by the late singer as a “public lynching” and said he was “100% innocent” of such accusations.

Gokongwei’s Cebu Pacific ramping up fleet expansion to recover ‘lost’ market share

CEBU PACIFIC is allocating between $650 to $700 million to fund its acquisition of new aircraft this year, as it aims to recover “lost market share” over the past two years.
Anglo American

Anglo-American lays off 180 workers at Chile copper mine

SANTIAGO -- Global miner Anglo American laid off 180 workers at its flagship Los Bronces mine in central Chile, part of a plan to boost productivity at the deposit that has raised the ire of some of its unionized workers.
Pag-IBIG Fund

Pag-IBIG Fund looking to hike monthly contributions

THE HOME Development Mutual Fund (Pag-IBIG Fund) is considering to increase the monthly contribution share of employees to support growing demand for housing loans projected in the coming years.

Reprise

HERE’S A pretty pickle: how do you follow after the work of arguably one of the greatest animated studios in recent decades? With the retirement of Hayao Miyazaki and the shuttering of Studio Ghibli (actually old news: he has come out of retirement and the studio has since unshuttered) many of the people who worked there established their own outfit, Studio Ponoc, and this film — Mary and the Witch’s Flower (Meari to Majo no Hana), helmed by Hiromasa Yonebayashi (When Marnie Was There, Secret World of Arrietty) is their debut offering.

Kia Philippines targeting to sell 10,000 units this year

KIA Philippines is targeting to sell 10,000 units this year, boosted by the newly launched subcompact sedan Soluto.

Life insurers’ premiums likely grew 17%

THE PHILIPPINE Life Insurance Association, Inc. (PLIA) said gross premiums of the life insurance industry likely grew 17% in 2018 on the back of a growing middle class and rising awareness among Filipinos to get insured.

What to see this week

7 films to see on the week of February 1 - February 7, 2019
protest strike steelworkers Shell

Steelworkers reject first offer from Shell in contract talks

HOUSTON -- The United Steelworkers (USW) union on Wednesday rejected the first offer from Shell Oil Co. in talks for a new national agreement covering 30,000 U.S. refinery, chemical plant and pipeline workers, according to three sources familiar with the negotiations.