Home 2019 May 9

Daily Archives: May 9, 2019 | 10:16 pm

SC asked to issue TRO against Kaliwa Dam loan agreement

THE MAKABAYAN bloc, led by Senate candidate Neri J. Colmenares, asked the Supreme Court (SC) to issue a Temporary Restraining Order (TRO) against the loan agreement with Export-Import Bank of China worth $211.2 million for the Kaliwa Dam project, claiming it violates the Constitution.
Makati skyline construction

NCR office growth seen at 1 million sq.m. per year

THE METRO MANILA office sector’s capacity is expected to grow by 1 million square meters a year between 2019 and 2021, with demand for such space driven by the speed of the Philippine Economic Zone Authority’s (PEZA) investment application approvals for incentives, Colliers International said.
Rodrigo R. Duterte

PHL seen as preferred destination for Chinese investment — Santos Knight Frank

THE Philippines has become a preferred destination for Chinese investors, according to the new report released by real estate advisory firm Santos Knight Frank.
European Union (EU)

Germany cites concerns over PHL’s compliance with GSP+ terms

THE German government said Thursday that it has concerns about the Philippines’ compliance with the terms of its continued participation in a European Union (EU) preferential trade arrangement.
restaurant shop

TRAIN’s hike in disposable income felt by retail sector, restaurants — DoF

TAXPAYERS saved about P111.7 billion in 2018 after the reduction in personal income due to the implementation of the tax reform law, the Department of Finance (DoF) said Thursday.
power lines

Mindanao peak power demand hits record on May 8

PEAK POWER demand in Mindanao hit a record 2,013 megawatts on May 8, exceeding the 1,853 MW recorded on Dec. 13, the Mindanao Power Monitoring Committee (MPMC) reported.
Manila International Container Port (MICP)

Trade dep’t ‘on track’ to hit medium-term export target

THE Department of Trade and Industry (DTI) said it remains confident of hitting its medium-term export target amid ongoing efforts to address bottlenecks hindering growth.
Ninoy Aquino International Airport (NAIA)

DoTr expects to submit NAIA rehab proposal to NEDA by next week

THE DEPARTMENT of Transportation (DoTr) hopes to submit the proposal of the so-called “super consortium” to rehabilitate the Ninoy Aquino International Airport (NAIA) to the National Economic and Development Authority (NEDA) by next week.
Power shortage as election issue

Power shortage as election issue

Until last week May 3, another yellow alert has been issued by the National Grid Corp. of the Philippines (NGCP) because of insufficient reserves due to the following: (a) forced outage due to earthquake of GN Power Mariveles (316 MW), (b) unplanned/forced outage of SEM Calaca U2 and Team’s Pagbilao U1 (582 MW), and (c) derated/reduced capacity of five power plants (736 MW). Total 1,634 MW unavailable, that’s big.
Trade protections under the Customs Modernization and Tariff Act

Trade protections under the Customs Modernization and Tariff Act

With news of possible escalation of trade hostilities between the US and China, it would be good to look at possible trade processes and remedies that can be resorted to by the Philippines in case the conflict creeps into our economy.
Lawyers and lawlessness

Lawyers and lawlessness

The Philippines is one of the world’s most lawless countries. But it’s not because it has too few laws or none at all, but because it has too many that are often interpreted in favor of the powerful so as to bring about the exact opposite of their intention, are selectively implemented, or hardly enforced at all.
Comments on the side

Comments on the side

INATTENTIVE participants at meetings ignore the speaker and quietly amuse themselves by offering running commentaries to seatmates and asking questions on the side. (Does he know what he’s talking about?) Side conversations between participants in a meeting or conference are distracting to those trying to listen to the speaker. Loudly whispered comments are not meant to be overheard by the one presenting: “note how he says “actually” before every phrase. I’ve counted 23 already.”

Duterte declares May 13 a holiday

PRESIDENT Rodrigo R. Duterte on Thursday issued Proclamation 719 declaring Election Day, May 13, as a special non-working holiday nationwide.

Travel ban on suspect in Jee killing amended

A COURT in Angeles City has amended its hold-departure order on the alleged mastermind in the October 2016 kidnapping and murder of South Korean businessman Jee Ick-Joo, to now cover all airports and seaports in the country.

Stocks plunge as economic growth disappoints

SHARES plunged on Thursday after disappointing economic growth figures in the first quarter.

Peso weakens on GDP

THE PESO declined further against the dollar on Thursday due to slower-than-expected economic growth data and amid the market’s anticipation of the central bank’s policy decision.
Panfilo Lacson

‘Bikoy’ ripe for contempt in Senate inquiry — Lacson

THE MAN who claimed to be the netizen Bikoy, in the videos alleging drug links in President Rodrigo R. Duterte’s family, would have been cited for contempt if the Senate had proceeded with its inquiry into this controversy, Senator Panfilo M. Lacson said on Thursday.

DENR orders closure of Limay dumpsite

THE DEPARTMENT of Environment and Natural Resources (DENR) has issued a cease and desist order (CDO) against the municipal government of Limay, Bataan for the operation of an open dumpsite in Barangay San Francisco de Asis I.

QC prosecutor recommends libel charge vs Alvarez

THE QUEZON City Prosecutor’s Office has recommended the filing of a libel charge against Davao del Norte 1st District Rep. Pantaleon D. Alvarez for his “defamatory” comments against Davao del Norte 2nd District Rep. Antonio R. Floirendo Jr.

There’s more to Oriental Mindoro than just Puerto Galera

ORIENTAL MINDORO is best known to outsiders for Puerto Galera, a popular beach and diving destination.

Ormoc Airport runway widening set as post-2017 earthquake rehabilitation work almost done

ORMOC AIRPORT’S 2,042x36 meter runway is up for widening to accommodate bigger aircraft, with P55 million allocated and target completion by 2020, Civil Aviation Authority of the Philippines (CAAP) announced on Thursday following an inspection of the facility. CAAP and local government officials, with Department of Transportation (DOTr) Secretary Arthur P. Tugade, visited the airport to check on the rehabilitation works started in Feb. 2018.

Modernized jeepneys to start plying Iloilo City next week

THE FIRST 12 modernized jeepneys of the Iloilo City Alliance Operators and Drivers Transport Cooperative (ICAODTC) will start operating next week, with an initial four routes to be served.

Cebu bus terminal management asks LGUs to deploy gov’t buses to accommodate commuters for...

THE CEBU South Bus Terminal (CSBT) management, which is under the Cebu provincial government, is expecting up to 40,000 passengers this weekend who will travel to vote for the May 13 midterm elections.

More exhibitors in this year’s PHILBEX, TLEX Davao

A HUNDRED exhibitors are participating in this year’s 5th Philippine Building and Construction Expo (PHILBEX) Davao and 3rd Travel and Leisure Expo (TLEX), up from 80 in 2018.

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Duterte warns Negros Occidental mayor: Let the people vote freely

PRESIDENT RODRIGO R. Duterte has warned the mayor of a town in Negros Occidental against sowing fear and to allow the people “to vote freely” on May 13.

Nation at a Glance — (05/10/19)

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

Lady Eagles, Tigresses tussle in UAAP finals

FOLLOWING an eventful two rounds of preliminary play, the women’s volleyball tournament of Season 81 of the University Athletic Association of the Philippines hits the championship phase with the Ateneo Lady Eagles and University of Santo Tomas Golden Tigresses disputing the title.
Lucas Moura

Moura hat-trick flattens Ajax to put Tottenham into finale

AMSTERDAM -- Lucas Moura conjured the second Champions League miracle in 24 hours with a last-gasp winner to complete his hat-trick and a 3-2 win to send Tottenham Hotspur past a shattered Ajax Amsterdam into the final on away goals on Wednesday.
San Miguel Beermen

PHL Cup finals series hits pivotal Game Five

THE ongoing best-of-seven PBA Philippine Cup finals series between defending champions San Miguel Beermen and Magnolia Hotshots Pambansang Manok hits the critical juncture Game Five today with the two teams eyeing a victory that will take them one step away from the championship.
Giannis Antetokounmpo

Bucks rout Celtics, 116-91, to clinch series 4-1

LOS ANGELES -- The team with the best record in the NBA regular season also won the race to be the first into the postseason conference finals Wednesday night, when the Milwaukee Bucks ran away from the visiting Boston Celtics for a series-clinching, 116-91 victory.
Salomon X-trail Run

Salomon thrust of ‘run, train and play’ continues with latest X-trail staging in Timberland...

ANOTHER staging of the Salomon X-trail Run was held recently, continuing its message of discovering both the fun and technical side of outdoor undertakings through “run, train and play.”

Bundesliga confirmed as Europe’s home of Asian football players

BUNDESLIGA welcomes more Asian players compared to other top four European leagues while Asian players in Germany also accumulate more appearances and goals than all other top four European leagues combined.
UTP National Juniors Tennis Team

2019 UTP national juniors tennis team to be announced

IN a bid to continue developing fresh Filipino tennis talents, Unified Tennis Philippines (UTP) is forming the 2019 UTP National Juniors Tennis Team, which will represent the country in International Tennis Federation (ITF) and Asian Tennis Federation (ATF) tournaments.

Collective weaknesses

Brad Stevens is no stranger to losing in the National Basketball Association. After he was pried from Butler in 2013, he won only 25 games in his first year as the Celtics’ head coach. He still had more setbacks than victories in his second year, but somehow snuck into the playoffs, where he promptly got swept in the first round. He did better in 2016, winning two postseason games, and then took the green and white to the conference finals the next two years. Given his track record, it’s fair to argue that he’s no stranger to adversity.

2019 National and Local Elections

MERALCO READY FOR 2019 MIDTERM ELECTIONS. The Manila Electric Company (Meralco) said that it has prepared its 300 crew personnel, more than 150 generator...

From dump to desk: upcycling pineapple waste into specialty paper

The Design Center of the Philippines, an attached agency to the Department of Trade and Industry committed to strengthening the Philippines’ design ecosystem, recently...

First quarter economic growth slowest in 4 years

The Philippine economy posted a 5.6% gross domestic product (GDP) growth in the first quarter, the Philippine Statistics Authority (PSA) reported this morning. The...
port of manila

Exports fall a 4th month, widen trade gap

MERCHANDISE TRADE remained a drag on overall economic growth last quarter, as export receipts declined for the fourth straight month in March while import payments continued to increase.

Philippine trade year-on-year performance (March 2019)

MERCHANDISE TRADE remained a drag on overall economic growth last quarter, as export receipts declined for the fourth straight month in March while import...
palay rice grains

Farm output nearly flat in Q1

A NEARLY FLAT farm output marked the first quarter, slowing from a small increment a year ago, the Philippine Statistics Authority (PSA) said on Thursday a day ahead of its gross domestic product (GDP) report for the same period, noting that increases in livestock, poultry and fisheries output narrowly offset a drop in crops that accounted for half of total value of production.

Treasurer signals euro bond sale within the month

THE COUNTRY’s planned benchmark-sized euro-denominated notes will likely be offered “very very soon,” the head of the Bureau of the Treasury told reporters in Malacañan Palace on Wednesday, saying the government is still watching market developments for the right time to sell the debt papers.

SM Investments nets P10.7B in 3 months

SM Investments Corp. (SMIC) delivered a 26% profit increase in the first quarter of 2019, boosted the double-digit topline growth of its property, banking, and retail units.

Solaire operator’s income slides in 1st quarter

EARNINGS of Bloomberry Resorts Corp. slumped by 40% in the first quarter of the year, pulled down by lower forex gains alongside higher interest expenses.

8990 profit jumps 13% in 2018

MASS HOUSING developer 8990 Holdings, Inc. posted a 13% profit increase in 2018, driven by higher real estate sales from several projects across the country.

GT Capital targets single-digit bottom-line growth this year

GT Capital Holdings, Inc. aims to grow its bottom line by mid-single digits in 2019, banking on the recovery of its auto unit and the continued growth of its banking and property businesses.