Home 2019 March 11

Daily Archives: March 11, 2019 | 10:01 pm

Department of Trade and Industry (DTI) logo

DTI backs Malaysia role in developing barter, halal industries

THE Department of Trade and Industry (DTI) said it wants to expand bilateral cooperation between the Philippines and Malaysia in barter trade and hopes to grow the halal industry with Malaysia’s help.

Maynilad ready for dry spell amid mild El Niño

MAYNILAD Water Services, Inc. has downplayed the impact of El Niño on the water it supplies to Metro Manila’s west zone, saying the previous dry spell early in this decade left the company prepared for a similar incident.
water containers

Palace advice on water crisis: ‘Wait for rain’

MALACAÑANG said Monday that relief from the Metro Manila water crisis may have to wait for the onset of the rains, though cloud-seeding was also an option, with the Department of Agriculture saying it ordered seeding in areas of Central Luzon that could help fill the capital’s reservoirs.

CoA flags verification process for ‘poor’ beneficiaries of DepEd program

THE COMMISSION on Audit (CoA) reported that the Government Assistance to Students and Teachers in Private Education (GASTPE) program cannot adequately verify the economic status of its beneficiaries.
ASEAN flags

ASEAN-Japan deal to expand services access, movement of persons, business visa issuance

THE Association of Southeast Asian Nations (ASEAN) and Japan signed an agreement to amend the ASEAN-Japan Comprehensive Economic Partnership (AJCEP) Agreement, which will expand visa access to Japan for Filipinos visiting for business or investment, the Department of Trade and Industry (DTI) said.

ECoP: Labor has no part in voluntary regularization plan

EMPLOYERS Confederation of the Philippines (ECoP) President Sergio R. Ortiz-Luis Jr. said he does not see the need to come to an agreement with the labor sector regarding its voluntary regularization program.
power line electricity energy

Consumer group calls for price transparency during power alerts

A CONSUMER group has called on the electricity spot market to ensure transparency of prices in order to avoid collusion among power generation companies during times when the grid system operator declares “yellow” or “red” alerts.

Fiber authority urges halt to crossbreeding of abaca

THE Philippine Fiber Industry Development Authority (PhilFIDA) said it wants to put stop to the “failed” crossbreeding of abaca with pacol, a wild banana that researchers have claimed improves hybridized abaca’s resistance to disease.

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Unverified third-party data in BIR assessments

A month after President Duterte line-vetoed the general tax amnesty provision of the Tax Amnesty Act of 2019, taxpayers who have long anticipated a clean slate with the Bureau of Internal Revenue (BIR) are once again confronted with the question of whether to expect rigorous tax audits by the BIR.
Comparison: Philippines and Vietnam

A tale of two agricultures: The Philippines and Vietnam

If there is an agriculture miracle in the ASEAN in the past two decades, it is Vietnam. It is not hard to compare Vietnam with the Philippines. They have similarities in terms of land area, population, agricultural area, and, I guess, farm sizes.

Energy favoritism by legislation

Going through the Economy section of BusinessWorld last week, I checked these four energy-related reports.

An interventionist Senate in Philippine foreign policy

Foreign policy is often an eclipsed subject in electoral campaigns. By its nature, it is reserved to the remit of the agents of the Foreign Affairs department, particularly the Chief Executive, who acts as its main architect. Despite this, there has been an increasing demand for transparency on foreign policies, particularly by members of the Senate, a body that is not directly involved in negotiations.

Your health matters: SuperWoman deserves SuperHealth

MARCH IS Women’s Month. This is a month set out to acknowledge the multiplicity of roles women have assumed in today’s society, to recognize them for the flair with which they deliver effectively and efficiently on these roles, and to ponder on the needs of women that will ensure that they can continue to function with pizzazz.

The Nationals set to take flight for maiden season

THE NATIONALS -- the Philippines’ first and only franchise-based Esports League -- is set to take full flight later this month with hopes of taking organized gaming competitions in the country to a whole new plane.
Ceres-Negros FC

Ceres eyeing second AFC Cup win in away match in Vietnam

HAD a winning debut in the 2019 AFC Cup, top local football club Ceres-Negros FC is now focusing on getting its second win in group play in an away match today against Becamex Binh Duong of Vietnam.
John Leerams Chicano

Chicano secures bronze medal in Powerman Asia Duathlon Championships

GO FOR GOLD triathlete John Leerams Chicano also has the knack for duathlon following an impressive output in the Powerman Asia Duathlon Championships held recently in Putrajaya, Malaysia.

Games from Aeroflot

The 17th edition of the Aeroflot Open was held from Feb. 20-27, 2019 at the Cosmos Hotel, Moscow. As recounted to you last Friday the Estonian GM Kaido Kulaots was the shock winner of the event and will be seeded to play in the SuperGM tournament in Dortmund July 13-21.

Embiid is back

“I’m back,” Sixers All-Star Joel Embiid declared before the Wells Fargo Center crowd, and none too soon. His presence on the court was certainly required; the red, white, and blue played uninspiring .500 ball in the eight matches he was sidelined due to a sore left knee, their middling slate underscoring his importance to the cause. For all their supposed talent, their system revolves around him, and precisely because he’s their biggest weapon in their aim to claim favorable playoff seeding. And, true enough, he promptly dropped an imposing 33 and 12 yesterday against the Pacers, the very opponents hitherto ahead of them in conference standings.

CA denies Rappler’s motion on SEC ruling

THE COURT of Appeals (CA) has denied for lack of merit the motion for partial reconsideration by Rappler, Inc. and Rappler Holdings Corp. (RHC) on their case with the Securities and Exchange Commission (SEC) over the alleged violation of foreign equity restriction by Rappler and its holding company.

Slain businessman’s brother tagged as mastermind in murder

THE PHILIPPINE National Police (PNP) on Monday named a younger brother of businessman Dominic L. Sytin as the alleged mastermind of his murder.

Senate won’t push medical marijuana bill

SENATE PRESIDENT Vicente C. Sotto III on Monday said the Senate will not pass any measure legalizing medical marijuana following President Rodrigo R. Duterte’s turnaround on this matter.
gas pump

Gasoline up by P0.90/L this week

OIL COMPANIES are raising the prices of gasoline products this week by P0.90 per liter (/L), while keeping unchanged those of diesel and kerosene.

Suspected Abu Sayyaf member nabbed in Taguig

THE NATIONAL Bureau of Investigation (NBI), along with the Philippine National Police-Special Action Force, arrested on March 6 an alleged member of the Abu Sayyaf Group (ASG) wanted for multiple counts of kidnapping and serious illegal detention in 2001.
peso dollar bills

Peso rises versus dollar on weak US labor data

THE PESO strengthened slightly against the dollar on Monday due to weak labor data in the US and amid “very quiet” trading.

PSE index declines on net selling, lack of drivers

THE MAIN INDEX moved further down the 7,700 level yesterday amid a lack of fresh catalysts that could boost investor sentiment.

PNP-HPG to be deployed as gov’t gets tougher on illegal transport, parking

THE PHILIPPINE National Police Highway Patrol Group (PNP-HPG) and several government agencies will intensify the crackdown on colorum vehicles and other causes of traffic congestion in the capital.

Comelec-Iloilo City cracks down on illegal campaign posters

MORE THAN three weeks since the start of the 2019 campaign period for national candidates, hundreds of illegal campaign posters were removed in Iloilo City.

80 loose firearms seized in Cavite

THE PHILIPPINE National Police (PNP) collected 80 loose firearms and potential instruments of violence during its recent 10-day focused operations in Cavite.

Over 2,000 athletes to join Ironman 70.3 in Davao

UP TO 2,200 athletes from 38 countries are expected to participate in the Ironman 70.3 triathlon event to be hold in the neighboring cities of Davao, Panabo and Tagum, and Carmen town on March 22-24.

Mt. Apo Cotabato trails temporarily closed to prevent forest fires amid El Niño

THE THREE trails in Cotabato going up to Mt. Apo have been temporarily closed to avoid forest fires amid the ongoing dry spell brought about by El Niño.

Nation at a Glance — (03/12/19)

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

Gov’t to revive push vs investment caps

THE EXECUTIVE BRANCH will pitch a fresh proposal to the next Congress to lift foreign ownership limits under the 1987 Constitution, the head of the Finance department told reporters last week.
Bank Vault

BSP defers full implementation of liquidity rules for bank units

THE BANGKO SENTRAL ng Pilipinas (BSP) has pushed back full implementation of two liquidity measures, covering subsidiaries of big banks, to next year, giving them time to raise more funds for compliance.

Senate leadership open to bill institutionalizing infrastructure drive

SENATORS are open to a law that institutionalizes the government’s intensified infrastructure development program to ensure continuity of flagship projects after President Rodrigo R. Duterte’s term ends in mid-2022.
BSP calling card

Standard Chartered sees 100bp rate cut this year

THERE IS ROOM for the central bank to cut interest rates by as much as 100 basis points (bp) this year, an analyst at a global bank said, noting that inflation could slow to below two percent in the third quarter.

DMCI Holdings sets P31-billion capex this year

DMCI Holdings, Inc. is ramping up its capital expenditures (capex) to P31 billion this year, as it looks to support its property unit’s aggressive expansion in the following years.
Metropac logo

MPIC logistics unit aims to break even this year

THE logistics unit of Metro Pacific Investments Corp. (MPIC) hopes to break even this year, as it continues its expansion to become a leading player in the country.
DMCI Homes Zinnia Towers

DMCI Homes plans to launch 2 condos in QC

THE property unit of DMCI Holdings, Inc. is planning to develop more residential condominiums in Quezon City, as it expects housing demand to be driven by government infrastructure projects.
metro pacific

Better-than-expected profit boosts Metro Pacific’s share price

BETTER-THAN-EXPECTED earnings and renewed investor interest made the Metro Pacific Investments Corp. (MPIC) stock one of the most actively traded last week.

Voyager turnaround expected by 2021

PLDT, Inc. said it may have to wait until next year or 2021 to see a turnaround in Voyager Innovations, Inc., after the digital...
Panay Local Food Center

S. Korea-backed project for Panay upland farmers may be replicated elsewhere

ILOILO CITY -- A five-year program seeking to turn Panay’s upland farmers into direct distributors of their produce will be replicated in other parts of the country, Agriculture Secretary Emmanuel F. Piñol said.

LNG hub project to be launched in mid-May — DoE

PHOENIX PETROLEUM Philippines, Inc. and the state firms of China and the Philippines are set to launch by May 13 the liquefied natural gas (LNG) hub project that they plan to jointly develop to serve the requirements of the country, government officials said.

Davao chocolate firm offers first-in-PHL vegan option

DAVAO CITY -- Chocolates are now thought to offer health benefits apart from being a sweet treat, but a Davao-based chocolate company is launching a vegan variety, in what is claimed to be a first for a Philippine producer.
Bureau of Treasury (BoT)

T-bill, T-bond rates seen mixed

RATES OF government securities on offer this week are expected to end mixed due to expectations of a cut in banks’ reserve requirement ratio, as well as demand for fixed-income securities.