Home 2019 March 15

Daily Archives: March 15, 2019 | 7:42 pm

Record-high current account gap marks 2018

THE COUNTRY’s current account deficit ballooned in 2018 to exceed an official full-year forecast, fueled by a wider merchandise trade gap, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.

Cash remittances, a key economic support, off to strong start

MONEY SENT HOME by Filipinos working abroad grew at the fastest clip in three months as this year began, even as the latest amount was less than December’s record-high inflows, according to data the central bank released on Friday.

SEC sets rules for forming one-person corporations

THE Securities and Exchange Commission (SEC) has released on Friday draft guidelines listing documentary requirements for putting up a one-person corporation (OPC) and providing how ordinary stock corporations can be converted into OPCs.

US State Dep’t flags EJKs in human rights report

EXTRAJUDICIAL killings (EJKs) remain the “chief human rights concern” in the Philippines, the US State Department said in its 2018 Country Reports on Human Rights Practices.

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2017 study: Little to average public concern about drought

FILIPINOS show varying levels of concern about drought, according to a 2017 study by the Harvard Humanitarian Initiative (HHI) DisasterNet Philippines.
Supreme Court

SC urged to act on ICC withdrawal due Sunday

THE Philippine Coalition for the International Criminal Court (PCICC) urged the Supreme Court to resolve the petitions against the country’s withdrawal from the ICC, which will take effect on Sunday, March 17.

DoH: Q1 dengue cases rise

THE Department of Health (DoH) said dengue cases from January to March 2, 2019 increased drastically compared to the same period last year and reminded the public to help prevent the illness.

Duterte vetoes bill strengthening OSG

By Charmaine A. Tadalan, Reporter PRESIDENT Rodrigo R. Duterte has vetoed the bill strengthening the Office of the Solicitor-General, citing benefits granted therein may be...
Department of Budget and Management (DBM)

DBM recommends amendment to EO to activate salary increases for gov’t workers

THE Department of Budget and Management (DBM) has recommended that President Rodrigo R. Duterte amend an executive order (EO) increasing government workers’ salaries, amid the 2019 national budget impasse.

Gov’t, port operators agree on moving out unclaimed cargo

CARGO left unclaimed at port terminals beyond 30 days will be transferred to the port operators’ inland container yards at the expense of the consignees beginning Sunday.

DENR says documents lacking for Kaliwa Dam ECC application

THE Metropolitan Waterworks and Sewerage System (MWSS) has not yet submitted complete documentation for its Environmental Compliance Certificate (ECC) application covering the proposed Kaliwa Dam, which means the project cannot move forward, the environment department said.

Duterte orders water firms to tap more water from Angat

PRESIDENT Rodrigo R. Duterte has directed the Metropolitan Waterworks and Sewerage System (MWSS) to order Metro Manila’s two water concessionaire to tap more water from Angat Dam on Friday.

DoubleDragon issued pre-selling license for Davao hotel

DOUBLEDRAGON Properties Corp. said on Friday that its hotel subsidiary has obtained a pre-selling license for a project in Ecoland, Matina, Davao City.

Phoenix Petroleum assessing proposed areas for retail expansion

DAVAO CITY — Listed independent oil firm Phoenix Petroleum Philippines, Inc. is assessing various locations proposed by potential dealers as part of its expansion program this year, a top company official said yesterday.

ICTSI says ‘sure’ of going ahead with Port Sudan deal amid gov’t review

INTERNATIONAL Container Terminal Services Inc (ICTSI) said it is certain it will ultimately take over a container terminal at Port Sudan on the Red Sea despite a strike called by employees to protest the transfer of management control.

Schneider Electric Philippine unit posts 2018 revenue growth of 14%

SCHNEIDER Electric (Philippines) Inc., a maker of energy management equipment, said revenue grew 14% in 2018 due to increased output of uninterruptible power supply (UPS) devices.

Palace signs into law franchise extensions for Philcomsat, UM Network

PRESIDENT Rodrigo R. Duterte has signed into law the bills extending for another 25 years the telecommunication franchise granted to Philippine Communications Satellite Corp. (PhilComSat) and the broadcast franchise granted to the University of Mindanao Broadcasting Network and UM Network.

FTSE rebalancing boosts PSEi

LOCAL STOCKS rose Friday — and for the second week in a row — on the back of portfolio adjustments in the face of Financial Times Stock Exchange (FTSE) rebalancing and as uncertainty over a United States-China trade deal and Brexit drove funds towards major Asian markets.
Peso Dollar

Peso weakens on fears of delayed trade war resolution

THE peso declined further against the dollar on Friday, following reports of delays in a meeting between US President Donald J. Trump and Chinese President Xi Jinping.

Robotic surgery breaks ground for prostate cancer treatment

In the Philippines, prostate cancer lags slightly behind lung cancer as the leading cause of death by cancer among men. Prostate cancer seems to...

Manzi Xue, special consultant of Huaren Capital: ‘The Philippines has demographic dividend and...

Manzi Xue, one of the best angel investors in China, was once the founder of a well-known listed enterprise and also an investor of...

Celebrating the best of Davao City

In celebrating the 82nd year of its cityhood, Davao City marks another year of progress and development. From a simple village composed of various...

Discovering Davao City’s gems

Sprawled beautifully on the southern Philippine island of Mindanao, Davao City prides itself for having a wealth of picturesque sceneries, a variety of natural...

A thriving investment hub

Serving as the center of commerce, trade, tourism, and finance in the Southern Philippines, the city of Davao positions itself as one of the country's...

Duterte bares third narco-list

By Arjay L. Balinbin, Reporter President Rodrigo R. Duterte on Thursday finally made public the third batch of his narco-list, saying the "drug personalities" in...

Duterte signs law on simulated birth records

By Arjay L. Balinbin, Reporter President Rodrigo R. Duterte has signed a law that grants amnesty to those who simulated birth records and allows rectification...

Remittance impact on peso flagged

SLOWING growth of remittances from Filipinos abroad is not likely to cause a significant dent in overall economic expansion, although it will make the peso “more vulnerable to sudden shifts in global risk appetite” through a widening current account deficit, Capital Economics said in a March 14 note.
Hyundai Reina 2

Sales of imported cars increase in February but down year to date

SALES of imported automobiles increased by 12% year-on-year in February, although year-to-date sales still dropped, according to data released on Thursday by the Association of Vehicle Importers and Distributors, Inc. (AVID).

‘Investor optimism’ makes hot money rebound in Feb.

FOREIGN portfolio investments -- referred to also as “hot money” for the ease by which these funds enter and leave the economy at the slightest stimulus -- turned around in February from a year ago on the back of sustained “investor optimism” even as they were more than halved from January, according to latest data which the Bangko Sentral ng Pilipinas (BSP) released on Thursday.
Port of Manila

Why the worst may be over for the global economy

LONDON -- The world economy may be the rockiest it’s been since the financial crisis, yet there are reasons to expect the current slowdown will prove short-lived.

SMC recurring income flat in 2018

DIVERSIFIED conglomerate San Miguel Corp. (SMC) recorded flat earnings growth in 2018, mainly due to lower crude prices for its fuel business that was further dragged down by forex losses.

Megaworld and BCDA to jointly manage Bonifacio Capital District

MEGAWORLD CORP. has partnered with the Bases Conversion and Development Authority (BCDA) for the property management of the 160-hectare Bonifacio Capital District (BCD) in Taguig City.

AC Health to increase stake in Generika

THE health care unit of Ayala Corp. (AC) plans to subscribe to more shares in the Generika group of companies to fund the pharmacy’s expansion.

Sex, lies and video: K-pop world rocked by sex scandals

SEOUL — South Korea police were due to question two K-pop stars on Thursday over allegations of sex tapes, secret chat about rape, and deals facilitated by prostitutes, in a sex scandal that has rocked South Korea’s music world and hit entertainment stocks.
antenna tower

Mislatel group still hopes to launch by late 2020

THIRD telecommunications player Mislatel consortium is still hopeful it will begin commercial operations by late-2020 despite not receiving its frequencies and certificate of public convenience and necessity (CPCN) as scheduled from the government.

Weinstein movie library gets new home under former MGM chief Barber

FILMS backed by disgraced movie mogul Harvey Weinstein, from The King’s Speech to Inglourious Basterds, have found a new home.

Cebu Pacific eyes new Australia routes amid rising demand

CEBU PACIFIC is considering opening new routes to Australia as the budget carrier saw rising demand for its Manila flights to Sydney and Melbourne last year.

Celebrating 70 years of Korean-Philippine friendship

THE PHILIPPINES and Korea mark 70 years of diplomatic relations this year and last week celebrated the milestone through a one-of-a-kind “friendship concert.”

CPG-Mitsubishi venture targets P2.7-billion sales from San Pablo project

THE joint venture company of Century Properties Group, Inc. (CPG) and Japan’s Mitsubishi Corporation is launching this month a new affordable housing community in San Pablo, Laguna.

Ulan: The Shapes of Water

GENTLE sun-dappled rainfall is the benign form water takes for the child Maya (Elia Ilano) who lost her parents in a storm at sea. In Filipino folklore, this odd synchronicity of sunshine and rain is whimsically believed to happen during the weddings of tikbalang, those horse-headed creatures of our lower mythology who like to lead wayfarers astray. Do take note of the lovely cinematography and the thoughtful production design of this beautifully photographed film.

Manila Water mulls Razon tie-up on Wawa dam

MANILA WATER Co., Inc. has formed a technical working group to look into the viability of partnering with port and casino magnate Enrique K. Razon, Jr. on the Wawa dam project to augment the water source of Metro Manila’s east zone concessionaire.


It isn’t as if the life of Vincent Van Gogh hasn’t been adapted for the big screen before. Lust for Life was Vincente Minnelli’s lustily melodramatic take (based on Irving Stone’s novel), with Kirk Douglas holding little back as he strained to suggest Vincent’s intensity; Robert Altman’s Vincent and Theo focused on the relationship between the Van Gogh brothers and their destructively parallel course; Maurice Pialat’s Van Gogh — easily the most unsentimental of the group — presents a harsh, uningratiating view of a harsh, uningratiating artist, avoiding the traditional highlights (including that ear thing) and focusing on more quotidian activities — Pialat doesn’t even make much effort to show the paintings, or approximate Vincent’s unmistakable style onscreen.
Eastern petroleum logo

Eastern Petroleum plans to add 50 company-owned outlets

EASTERN Petroleum Corp. targets to corner a 5% share of the market for liquefied petroleum gas (LPG) in the next three years as it plans to put up more company-owned outlets that will focus on densely populated markets.

DICT may stop signing MoUs with tower providers

THE Department of Information and Communications Technology (DICT) said it may temporarily stop signing new deals with common tower providers after it inked the 15th memorandum of understanding (MoU) on Thursday.
smartphone stethoscope

Health care, purchasing top sectors for online hiring in Q4

ONLINE HIRING activity in the Philippines rose slightly during the fourth quarter of 2018, online job recruitment site Monster.com said.