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Monthly Archives: March 2019

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Gov’t to conduct study on scope of drug problem

THE DANGEROUS Drug Board (DDB) is set to conduct a study on the extent of the drug problem in the country “amid calls for evidence-based indicators of the success of the anti-drug campaign” of President Rodrigo R. Duterte’s administration, according to DDB chairman Catalino S. Cuy.

Palace: ‘We are not in the business of cyberattacks’

MALACAÑANG’S MEDIA security task force on Sunday denied that President Rodrigo R. Duterte’s administration had a hand in the series of cyberattacks against alternative media outfits, including Alipato Media Center Inc. (Bulatlat.com), Altermidya-People’s Alternative Media Network Inc., Kodao Productions Inc., and Pinoy Media Center Inc.

CoA orders 14-year old NLPCSI to make concrete operations plan

THE COMMISSION on Audit (CoA), in its 2018 report, asked the Northeastern Luzon Pacific Coastal Service, Inc. (NLPCSI) to create a concrete plan for its operations, which has not commenced 14 years since its inception.

Application for retiring Del Castillo’s post now open

THE JUDICIAL and Bar Council (JBC) has opened for application and recommendation the Supreme Court position to be vacated by Associate Justice Mariano C. Del Castillo, who is retiring on July 29 when he turns 70.
Pangasinan capitol

Pangasinan’s month-long summer festivities start April 5

IT’S A non-working holiday in Pangasinan on Friday, April 5, as the province celebrates its 439th foundation day and the start of the month-long festivities leading up to Pista’s Dayat (Festival of the Sea) on May 1. One of the main activities on opening day is the launch of the Pangasinan Tourism and Trade Expo beside the Capitol Resort Hotel in Lingayen.

PECO to seek reconsideration of CA’s TRO order

PANAY ELECTRIC Company, Inc. (PECO) is preparing to file a motion for reconsideration on the Court of Appeals’ (CA) temporary restraining order (TRO) against the implementation of a Mandaluyong court order that stops MORE Electric and Power Corp. (MORE) from taking over PECO’s assets.

Toledo Power Company gets P46.8M in tax refund appeal

THE COURT of Tax Appeals (CTA) ordered the Bureau of Internal Revenue (BIR) to refund the excess input value-added tax (VAT) of Toledo Power Company (TPC) for 2010 in the amount of P46.87 million.
Sicogon Huni Beach Area

DAR offers to mediate after cease order vs Ayala Land-SIDECO venture in Sicogon Island

THE DEPARTMENT of Agrarian Reform (DAR) has offered to mediate between the Federation of Sicogon Island Farmers and Fisherfolk Association (FESIFFA) and the joint venture of Sicogon Development Corp. (SIDECO) and Ayala Land Inc. (ALI) over alleged breaches of contract on the development of Sicogon Island.

Rep. Dimaporo cleared of graft case on P5M farm program

THE SANDIGANBAYAN Second Division dismissed the graft and malversation cases against Lanao del Norte-2nd district Rep. Abdullah D. Dimaporo in connection with the P5-million funding for the Farm Input/Farm Implement Program (FIFIP) in Lanao del Norte.
zipline in Makilala

Cotabato urges municipal governments to help boost tourism development

COTABATO GOVERNOR Emmylou Talino-Mendoza called on town officials to take steps in developing their respective tourism destinations, citing the success of other localities in bolstering the province’s competitiveness through increased visitor arrivals.

Officials: Filipino IS fighters may return home but must ‘pay the price’

FILIPINO terror fighters in Syria should be given the opportunity to return home but must “pay the price” of their involvement, officials and an analyst said.

Report on charter change to be tackled in forum

POLICY experts and Congress officials are set to launch at a forum on Friday, April 5, their policy report on prospects and proposals for charter change and federalism.
Siffu Bridge

Fiscal balance back in deficit in February despite 2019 budget delay

A SURGE in state spending, despite delayed enactment of the P3.757-trillion national budget for 2019, fueled the fiscal deficit to grow nearly half in February, the Bureau of the Treasury reported on Friday.

Inflation expected to have slowed further this month

THE OVERALL INCREASE in prices of widely used goods likely eased further this month as lower prices of rice and other produce offset increases of fuel and electricity costs, the Bangko Sentral ng Pilipinas (BSP) Department of Economic Research announced on Friday.

Rappler chief arrested anew, posts bail

ONLINE news site Rappler CEO and executive editor Maria Angelita Ressa was released Friday upon posting P90,000 bail, following her latest arrest upon arrival at the Ninoy Aquino International Airport in connection with charges of violation of the Anti-Dummy Law.

New Bangsamoro government outlines next steps as BTC holds inaugural session

COTABATO CITY — The Bangsamoro Transition Authority (BTA) held its first session Friday and elected the officers of the Parliament under the new regional government.
Malacañang Palace

Palace calls on EU anew to stop funding of Red fronts

Malacañang on Friday called on the European Union anew to reconsider funding organizations allegedly being used as legal fronts of the communist rebellion.

Rio reappointed to DICT

PRESIDENT Rodrigo R. Duterte has reappointed Eliseo M. Rio, Jr. as acting secretary of the Department of Information and Communications Technology (DICT) after Senator Gregorio B. Honasan II’s appointment lapsed.
Carlos G. Dominguez III

Dominguez calls anew for passage of tax reform packages

FINANCE Secretary Carlos G. Dominguez III on Friday reiterated his call to Congress to pass the remaining packages of the government’s tax reform program this year.

2017 PSA survey shows 9 in 10 families have improved source of drinking water

By Christine Joyce S. Castañeda, Senior Researcher NINETY-FOUR PERCENT (94%) of 24.354 million families have access to improved source of drinking water, according to the...

El Niño seen to have minimal impact on economy

THE National Economic and Development Authority (NEDA) on Friday cited El Niño’s minimal impact on the economy, as it noted the agriculture sector’s relative contribution to economic growth.
Gloria Macapagal-Arroyo

Arroyo defends PHL deals with China

HOUSE Speaker Gloria Macapagal-Arroyo said the Philippines’ cooperation with China should be seen as an opportunity, rather than a threat, amid doubts on the governments’ loan agreements.

PCC to look into cold-storage cartel in onion industry

THE Philippine Competition Commission (PCC) said it will look into the Department of Agriculture’s (DA) complaint on the alleged cold-storage cartel in the onion industry.

DTI order out reenlisting flat glass in mandatory standards

THE Department of Trade and Industry (DTI) said it has signed an order reviving the mandatory testing and certification of flat glass and other subproducts before market entry to ensure the safety of consumers.

CA issues TRO aganst RTC-ordered suspension of Iloilo power franchise turnover

THE Court of Appeals (CA) said it issued a temporary restraining order (TRO) preventing the implementation of a Mandaluyong court order which had barred MORE Electric and Power Corp. (MORE) from taking over the assets of Panay Electric Company, Inc. (PECO).

Travellers 2018 net profit up sharply after launch of new gaming space, hotels

TRAVELLERS International Hotel Group, Inc. said 2018 net profit was P1.44 billion, up sharply from P279.82 million a year earlier, after the owner and operator of Resorts World Manila (RWM) posted robust growth after launching more gaming and hotel space.

PXP Energy, Dennis Uy holding firm terminate share purchase deal

PXP Energy Corp. said on Friday that the subscription agreement it signed with Davao City businessman Dennis A. Uy’s Dennison Holdings Corp. had been terminated by the two parties effective on March 29, 2019.

ICTSI’s Subic unit expands cargo handling capacity

SUBIC Bay International Terminal Corporation (SBITC), a unit of International Container Terminal Services, Inc., said it added four reach stackers, increasing capacity at the port.

PSALM sets April deadline for HQ redevelopment submissions

THE Power Sector Assets and Liabilities Management Corp. (PSALM) said it set a new deadline fora design competition for the redevelopment of its Quezon City compound.

Cebu Landmasters JV to develop new business district in Matina, Davao City

CEBU Landmasters, Inc. (CLI) is partnering with the Villa-Abrille clan to develop a site currently occupied by 22-hectare golf course into a new business district, the company told the stock exchange on Friday.

Feb. M3 growth slowest in 6 years at 7.1%

MONEY supply growth eased further in February to post its slowest level in over six years, in line with softer growth in bank loans, the Bangko Sentral ng Pilipinas (BSP) said yesterday.
loan banking

Thrift banks to expand outreach to unbanked Filipinos

THE Chamber of Thrift Banks (CTB) said its members will seek to reach more unbanked Filipinos through new technology, in compliance with a Bangko Sentral ng Pilipinas (BSP) mandate to increase inclusivess.
peso dollar

Peso stronger on risk-on sentiment amid developments in US-China trade talks

THE peso strengthened against the dollar on Friday, as investors sought to park their funds in riskier currencies pending the outcome of the United States-China trade negotiations.

Window dressing, US-China trade hopes lift PSEi

THE MAIN INDEX ended March on a positive note, even as it was down from the previous week, partly on month-end window dressing and in step with other bourses that took heart from a fresh round of Sino-US trade talks well into next week.

No filter: the challenging world of creative entrepreneurship

Youth Entrepreneurship Summit touches on the challenges of creative entrepreneurship

Viloria, Trinidad rule Go For Gold skateboarding Luzon leg qualifier

ABIGAIL VILORIA and Arianne Mae Trinidad have trained their sights on the 2019 Go For Gold Skateboarding National Championships as their passport to bring their act in the Southeast Asian Games.

Alvarez, Johnson not short in motivation heading into respective ONE Japan fights

TOKYO — Doing mixed martial arts for quite a long time now and succeeding and having practically won everything in it, one would think that it is all going through the motions now for legends “The Underground King” Eddie Alvarez and Demetrious “Mighty Mouse” Johnson.

Business Expectations Survey

INVESTOR and consumer sentiment received a huge lift as the year opened, riding expectations of more business and job opportunities, according to latest results of quarterly surveys which the Bangko Sentral ng Pilipinas (BSP) released on Thursday.
office workplace meeting

Business, consumer sentiment improves

INVESTOR and consumer sentiment received a huge lift as the year opened, riding expectations of more business and job opportunities, according to latest results of quarterly surveys which the Bangko Sentral ng Pilipinas (BSP) released on Thursday.
Bureau of the Treasury logo

Gov’t to borrow less next quarter

THE GOVERNMENT plans to borrow P315 billion from the domestic market next quarter through a mix of short and long-term securities, lower than the amount offered in January-March and in last year’s second quarter.

February registrations pull down BoI approvals in first two months

THE BOARD of Investments (BoI) -- the government’s lead investment promotion agency -- saw total value of projects approved drop in February, which one official attributed to high base effects and one economist blamed on “spillover effects” of fast inflation, government moves to change the fiscal incentives system and a generally trying global economic environment.
port of manila

PHL resilient to global slowdown — BSP official

THE PHILIPPINES should be able to weather a US recession and global economic slowdown, a senior central bank official told reporters on Thursday, citing scope for monetary authorities and economic planners to sustain rapid domestic-driven growth.

Coal-fired plant classified ‘of national significance’

GNPOWER KAUSWAGAN Ltd. Co. has secured approval from the Energy department for its application to be certified as an energy project of national significance, making it the biggest Mindanao-based coal-fired power plant to enjoy the benefits of an executive order that assures a faster approval process.

iflix’ new original movie to be streamed on Twitter

ASIAN video-on-demand (VOD) service iflix has finally launched Mystified, the company’s first foray into creating original content from the Philippines, with a special arrangement for it to be streamed on Twitter tonight.

Century Properties prices 3-year bonds at 7.8203%

CENTURY Properties Group, Inc. (CPG) has set the coupon rate for its P3-billion fixed-rate retail bonds at 7.8203% per annum.