Home 2019 March 8

Daily Archives: March 8, 2019 | 7:56 pm

Duterte fires PCSO general manager

PRESIDENT Rodrigo R. Duterte has fired Philippine Charity Sweepstakes Office (PCSO) General Manager Alexander F. Balutan because of corruption allegations, Malacañang said on Friday.

BSP chief sees room for monetary policy easing

By Melissa Luz T. Lopez, Senior Reporter THE central bank can start considering cuts in policy rates, new Governor Benjamin E. Diokno said Friday, but...

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Gov’t raises P236 billion from retail Treasury bonds

THE government has raised P235.935 billion from its latest offering of retail Treasury bonds (RTBs), National Treasurer Rosalia V. De Leon said on Friday.

MMDA: Traffic flow along Commonwealth Ave. improved after flyover closure

THE Metropolitan Manila Development Authority (MMDA) said the traffic situation along Commonwealth Avenue in Quezon City has improved since the Tandang Sora flyover was closed last week.
Malacañang Palace

All gov’t agencies, offices directed to implement poverty reduction program

MALACAÑANG has directed all government offices and agencies to join in the implementation of the administration’s poverty reduction program.
BIR building

BIR reminds candidates of tax obligations

THE BUREAU of Internal Revenue (BIR) outlined the tax duties of candidates for the midterm elections, which covers their campaign expenses and contributions.

Comelec rejects Otso Diretso’s request for debate

THE Commission on Elections (Comelec) has dismissed the request of the Otso Diretso slate for a debate against the Hugpong ng Pagbabago candidates.

Fight for women’s rights, welfare must go beyond laws

IMPORTANCE for women’s rights go beyond laws and should be emphasized especially under the current administration, various stakeholders said as International Women’s Day was celebrated on March 8.

DILG told to crack down on LGUs that allow building in hazard areas

THE Finance department has asked the Department of the Interior and Local Government (DILG) to crack down on towns and provinces that fail to keep residents from building homes in mining and quarrying areas.

Dutch shipbuilding firm eyes PHL investment

THE government said a Dutch shipbuilding company is taking an interest in investing in the Philippines, and among the options it is looking into is working with the Philippine Navy and taking over the facility of Hanjin Hanjin Heavy Industries and Construction Philippines, Inc. (HHIC-Philippines) in Subic, Zambales.
rice NFA

NFA defends debt as part of food security mandate

THE National Food Authority (NFA) defended its total debt of P140.5 billion by end-2018 as the “cost of government’s commitment and policy to make rice available, affordable and accessible to the poor and marginalized sectors, and to stabilize palay and rice supply and prices at the farm and consumer levels.”

El Niño causes P6-M rice loss in Negros Occidental; other Western Visayas areas being...

THE province of Negros Occidental has suffered P6.11 million worth of damage to its rice crop due to the dry spell brought about by the weak El Niño weather phenomenon, according to the Regional Disaster Risk Reduction and Management Council-Western Visayas (RDRRMC-6).

Aboitiz Equity Ventures books P22-B profit in 2018

ABOITIZ Equity Ventures, Inc. (AEV) saw its consolidated profit rise by three percent in 2018, as its weaker performance in the fourth quarter tempered its full-year results.

DMCI Holdings profit dips in 2018

DMCI Holdings, Inc.’s consolidated net income slid by two percent in 2018, weighed down by its coal mining unit’s prolonged plant shutdown despite the better performance of other business units.

Marubeni-Consunji tandem bags LRT-2 East E&M contract

THE consortium of Japanese firm Marubeni Corp. and engineering and construction firm D.M. Consunji, Inc. secured the $62-million (about P3.24-billion) contract for the Manila Light Rail Transit (LRT) Line 2 East Extension project.

Del Monte Pacific returns to profit in Q3

DEL MONTE Pacific Limited (DMPL) swung back to profitability in the third quarter ending January, even as sales slipped in the same period.

Cease and desist orders issued vs fast food chains in Calapan

THE Department of Environment and Natural Resources (DENR) on Friday said it ordered the shutdown of three fast food restaurants in Calapan City, Oriental Mindoro for violation of its standards on waste discharge.

Majorel eyes double-digit growth in Philippines

CUSTOMER experience business Majorel is looking to grow by double-digits in the Philippines this year.

GSIS recommends to Duterte P1,000 hike in month pensions

THE Government Service Insurance System (GSIS) has recommended a P1,000 increase in the monthly pensions paid to retirees, it announced Friday.

Peso drops to two-week low on weak global growth prospects

THE PESO slipped to two-week low versus the dollar on Friday, reeling from negative market sentiment following a dimmer global outlook from the European Central Bank (ECB).

PSEi drops amid fears of global economic slowdown

SHARES retreated on Friday, tracking the sell-off overseas on the back of fears of the global economic growth slowdown.

How the Lopez-owned Benpres building sparked an entrepreneurial spirit

WHILE the Lopez family can be construed as just another of the 40 families or so that form the nation's elite, the story of the country flows well in their veins, and at the same time, their story imprints on ours. The various Lopez holdings in land, energy, and media, summarized in the Lopez Group of Companies (that includes media conglomerate ABS-CBN, the Rockwell Land developments, and energy companies under First Philippine Holdings Corp., among many, many others) shape the way we live lives in the city and its surrounding environs.

How to get more Pinays to pursue STEM careers

YOUNG WOMEN entering the field of science, technology, engineering, and mathematics (STEM) face many challenges, given the prejudice against their gender.

Labor force survey

LATEST data show a decline in the country’s unemployment rate and underemployment rates in January, the government’s statistical agency reported on Thursday. Read the...
mechanic worker

Less Filipinos jobless, seeking more work

LATEST data show a decline in the country’s unemployment rate and underemployment rates in January, the government’s statistical agency reported on Thursday.
linemen Meralco

Electricity bills higher this month — Meralco

DISTRIBUTION utility Manila Electric Co. (Meralco) announced on Thursday a slight increase in the overall electricity rates for March to P10.4961 per kilowatt-hour (/kWh), up by P0.0894/kWh from the P10.4067/kWh in February.
dollars renminbi euro yen

FX reserves grow for fourth month

FOREIGN CURRENCY reserves rose in February for the fourth straight month, the central bank reported on Thursday, marked by higher investment income at a time of a stronger peso.

Queen of Jazz Annie Brazil takes her final bow, 85

THE country’s queen of Jazz, Annie Brazil (born Justiniana Bulawin), died of pneumonia at the age of 85 on the afternoon of March 5 in Quezon City, her children — singers Richard James B. Merk and singer Rachel Anne Wolfe, and Raffy Wolfe — confirmed in separate Facebook posts on the day of her passing.

PLDT allots record P78-billion capex for 2019

PLDT, Inc. is allocating a record P78.4 billion in capital expenditures (capex) for this year, 34% higher than last year’s figure, as the telecommunications giant ramps up its network expansion amid the impending entry of a new player.

Jeopardy! host Alex Trebek vows to fight advanced pancreatic cancer

LOS ANGELES — Jeopardy! host Alex Trebek, one of the most recognizable faces in US television, has been diagnosed with stage 4 pancreatic cancer, he said in a video message on Wednesday. He vowed to beat the disease despite its low survival rate.

Ayala to keep capital spending steady this year

AYALA CORP. (AC) is keeping its capital spending steady this year, while keeping a “fairly positive” outlook about the group’s businesses moving forward.

100 Years of Solitude on Netflix

LOS ANGELES — The groundbreaking novel One Hundred Years of Solitude by Gabriel Garcia Marquez is coming to the screen for the first time in a Spanish language series for Netflix, the streaming service said on Wednesday.

Megaworld eyes P18-billion sales from two condos

MEGAWORLD CORP. expects two new residential condominiums within its Parañaque City township to generate P18 billion in sales.

R. Kelly arrested again

R&B SINGER R. Kelly was arrested for a second time in recent weeks on Wednesday — this time for failure to pay child support — hours after lashing out in a TV interview against charges that he had sexually assaulted teenage girls.

Prodigy frontman Keith Flint, 49

LONDON — Keith Flint, the Prodigy lead singer who captured the hedonistic spirit of 1990s British rave culture, has died aged 49 in what the band’s founder described as a suicide.

Wilcon books P1.8-B profit

WILCON DEPOT, Inc. saw its net income jump by 32% in 2018, driven by strong same-store sales growth and the opening of new stores.

90210 actor Luke Perry, 52

ACTOR Luke Perry, who rose to superstardom on the teen-oriented 1990s US TV drama Beverly Hills 90210 and then aged into a fatherly role on comic-based Riverdale, died on Monday at the age of 52 after suffering a “massive” stroke last week, his publicist said.

SM Prime readies P10-billion bond issuance

SM PRIME Holdings, Inc. plans to issue P10 billion worth of bonds this year, which were given the highest rating by a local debt watcher.
office workplace meeting

Employers back more workplace hours for senior high students

LONGER exposure to work conditions will ensure the employability of senior high school students, particularly those in Technical-Vocational Education (TVE), a technical school educator said.
electronics robotics AI

ILO considers AI to be complementary to human work force

THE International Labor Organization (ILO) said Artificial Intelligence (AI) is likely to complement the labor force to boost workplace productivity rather than replace workers altogether.

Hello Kitty does Hollywood after years of film rights talks

ONE OF Japan’s most beloved cat cartoon characters is headed for Hollywood.

With new plant, Gardenia eyes more Mindanao sales

TAGOLOAN — Gardenia Bakeries Philippines, Inc. expects stronger sales in Mindanao, after the inauguration of its bread-making plant here on Thursday.

Growth to stay above 6% in Q1 on spending, slower inflation

THE BANGKO SENTRAL ng Pilipinas (BSP) expects economic growth to remain above six percent this quarter, with the view that strong government spending will prop up domestic activity despite budget delays and as inflation slows.

Stop listening to Michael Jackson

WHAT were they thinking? If you watch Leaving Neverland, the HBO documentary about Wade Robson and James Safechuck, two men who say that Michael Jackson sexually abused them as children, you will find yourselves asking that question a lot.