Home 2019 May 13

Daily Archives: May 13, 2019 | 10:27 pm

New housing dep’t seen up and running this month

THE new Department of Human Settlements and Urban Development (DHSUD) is expected to start operations by the last week of May, according to House committee on housing and urban development Chairman Alfredo Abelardo B. Benitez, the Representative for Negros Occidental’s 3rd District.
Agnes T. Devanadera

ERC studying way forward with licenses expiring amid Supreme Court TRO

THE Energy Regulatory Commission (ERC) is set to deliberate on how to move forward in promoting greater competition in the retail electricity business as the licenses of those authorized to engage in it are about to expire by 2021 to 2022 while a court-issued temporary restraining order (TRO) remains unresolved.
power lines

DoE says rules in place for competitive selection after high court ruling

THE Department of Energy (DoE) is not keen on issuing directives to power generation companies (gencos) and distribution utilities (DUs) that were affected by the Supreme Court decision requiring all power supply contracts forged after June 30, 2015 to undergo a competitive selection process (CSP).

German chamber sees TRABAHO dampening investment

GERMAN investment is expected to decline this year in line with those of other foreign businesses as they await clarity on the fiscal incentives reforms currently pending in Congress.


wp booster error:
td_api_base::mark_used_on_page : a component with the ID: td_180x135 is not set.

Taxpayers’ First Quarter Election

Just yesterday, millions of registered Filipino voters headed to their respective precincts to exercise their rights to suffrage. Leading up to Election Day, Filipinos were bombarded with countless campaign advertisements -- from catchy jingles and sponsored social media posts to political rallies and public debates -- all in the hope that candidates could influence and win the people’s vote. Now, candidates and voters alike are in limbo, hoping and praying that the election odds are in their favor.

Beermen and Hotshots brace for Game 7 grind

THE best-of-seven PBA Philippine Cup finals series between defending champions San Miguel Beermen and Magnolia Hotshots Pambansang Manok goes to a deciding Game Seven on Wednesday with both teams expecting a grind and a match necessitating only their best.

Leonard tows Raptors to conference finals

KAWHI LEONARD hit a buzzer-beating jump shot that bounced up and around the rim before finally dropping through the net, and the Toronto Raptors defeated the visiting Philadelphia 76ers, 92-90, on Sunday night in the seventh and deciding game of their Eastern Conference semifinal.

Kaya plays in key match

WITH ITS place in the next round of the 2019 AFC Cup still in the balance, Kaya FC-Iloilo tries to give its bid a boost with a victory in its final game in group play today against Home United FC in Singapore.

Intellectual property in sports center of Benilde confab

IN commemoration of the National Intellectual Property Month in the Philippines and World Intellectual Property Day, De La Salle-College of Saint Benilde recently held a forum discussing the value of IP in relation to sports.

Le Tour has two technical stages

THE Tagaytay City climb and the winding roads leading to and from Donsol in Sorsogon are bound to test how well the 75 cyclists could adopt quickly and strongly to technical rides in the Le Tour de Filipinas that celebrates its 10th year from June 14 to 18.

Ghana FC dethrones Super Eagles in Philam Life 7s Football League; Outkast wins

AFTER settling for a heartbreaking runner-up finish in Season 2, Ghana FC dominated and broke through against the Super Eagles in their Philam Life 7s Football League men’s final rematch, 3-1, to emerge as champions in Season 3 Sunday at the McKinley Hill Stadium.

UAAP women wars

Last year WIM Bernadette Galas played top board for De La Salle University in the UAAP Women’s Team Championship and scored 12/13, leading the Lady Archers to the team gold and winning for herself board 1 gold honors as well as the overall Most Valuable Player award.

Leader Kawhi

Considering how closely the Raptors and Sixers battled throughout their semifinal-round series, it was fittingly settled on a last-second shot in its last game by its most active player yesterday. Indeed, by the time Kawhi Leonard let go of his twisting corner fadeaway over the outstretched arms of Joel Embiid just before the final buzzer sounded, he had already played a whopping 278 minutes through seven grueling matches. He looked tired for the duration of the contest, reflecting his extremely high mid-30s usage rate, and his final stab at the rim was short, just like many of his 38 other attempts. That said, it was straight and, more importantly, soft, managing to draw front iron and bounce around before going in, spectacularly securing for the hosts a seat in the conference finals.

Duterte bets dominate Top 12

AN unofficial count as of Monday early evening showed candidates of President Rodrigo R. Duterte’s administration dominating the top 12 slots of the senatorial race, led by reelectionist Senator Cynthia A. Villar.
Quezon City Representative Crisologo charged for pork scam

Crisologo released after arrest over alleged vote-buying

QUEZON CITY 1st District Rep. Vicente “Bingbong” P. Crisologo, who is running for mayor, was released on Monday afternoon after being arrested on Sunday night for supposed obstruction of justice in relation to an alleged vote-buying scheme by his team.
gas pump

Gasoline, kerosene prices drop for 2nd week

FOR THE second straight week, oil companies are cutting the prices of their gasoline products to reflect the movement of prices in the international market.

Snapshots: 2019 national and local elections

Teachers serving as Board of Election Inspectors (BEI) and poll watchers start their day early as they prepare for the influx of voters at the Araullo High School in Manila.

Nation at a Glance — (05/14/19)

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

‘What is your opinion of your President?’

The Myanmar Colonel was smiling as he asked me this publicly -- it was an earnest question. Majority of the Myanmar Tatmadaw (military and police) present in the gathering are supporters of President Duterte, or at least they approve of what he’s doing as regards peace and order. I answered, “I didn’t vote for him, but he was voted by our people. So, he is my President.” The subtext of my answer is that democracy, imperfect as it is, is still my chosen political system for the Philippines. The officers nodded approvingly, including the Major General in front. Myanmar is in its beginning journey towards democratization; they look at the Philippines for lessons.

Myth: a religious sect’s endorsement assures election

On April 30, I wrote in this space that a religious sect endorses only the candidates who the polls show to be likely winners. By so doing, it sustains the myth that its endorsement assures victory.

120 years of the Spanish Chamber of Commerce

Last week, the Spanish Chamber of Commerce of the Philippines celebrated its 120th anniversary. La Camara, as the organization is fondly called, predates all other business groups in the country including the Filipino-Chinese Chamber of Commerce, the American Chamber of Commerce and even the Rotary Club. It was the first Spanish chamber to be established in Asia.

Recommendations on qualification, disqualifications, and competence of directors under the CG Code for PLCs

The CG Code for Publicly-Listed Companies (PLCs) through its “adopt or explain approach,” is able to avoid all the legal obstacles that may be found in the Board-enabling clauses of the original and Revised CG Codes, by adopting a formal Principle 1 for “Establishing a Competent Board,” thus.

Reforms’ fate at stake in today’s polls

RESULTS of today’s midterm elections will give a clearer picture of how secure remaining economic and other structural reforms, as well as business-friendly local initiatives, will be in the last three years of President Rodrigo R. Duterte’s term, analysts and business leaders said in separate interviews late last week.
power line Transco NGCP

Grid firm says supply of power so far sufficient

The NATIONAL GRID Corporation of the Philippines (NGCP) expects May 13’s available power generating capacity in Luzon to be at 11,740 megawatts (MW) as against a peak system demand of 9,047 MW, giving the grid operator a margin of 2,693 MW sufficiently covering the midterm elections.

Youth increasingly key to putting policy makers in place, but not a ‘solid’ vote

ABOUT 61 million voters, with the youth forming a considerable segment of this electorate, are expected to vote in today’s mid-term elections, the outcome of which will influence policy making in the remaining three years of the administration of President Rodrigo R. Duterte.

Foreign flows into Asian equities falter

BENGALURU -- Foreigners were net buyers of Asian equities for the fourth straight month in April, but analysts doubt such inflows could be sustained amid an escalating tariff war between the world’s top two economies.

FPH to spend P8 billion for new headquarters

FIRST Philippine Holdings Corp. (FPH) will be spending P8 billion over the next five years to develop its new headquarters in Ortigas Center.

A taste of the Alternative Learning System

Imagine being at a high school one sunny Saturday in March. Instead of being surrounded by restless sulking teenagers, you are surrounded by adolescent and adult learners who are smiling shyly and who look happy to be there. There is some nervous energy as there are visitors to observe the Alternative Learning System – Education and Skills Training (ALS-EST) teaching-learning sessions, but the excitement and pride of everyone – from the school leaders to the teachers and learners – are more palpable.

MPTC on the lookout for opportunities in SE Asia

METRO PACIFIC Tollways Corp. (MPTC) remains on the lookout for opportunities to expand its presence in the Southeast Asian countries where it currently has tollroad investments, as the company continues its plans to create a pan-ASEAN tollway network.

Low growth, high taxes as election issue

In election years, the Philippines’ GDP growth rate is always above 6.5% – except in 2001 (terrorist attack in the US, Gloria Arroyo anemic growth) and 2019. Philippines’ growth trajectory is on a downhill: 6.9% in 2016, 6.7% in 2017, 6.2% in 2018, and only 5.6% in the first quarter of 2019. Growth deceleration since Dutertenomics was invented is further confirmed.

Coach bags languish in Vietnam port in painful tariff workaround

WITH President Donald Trump slapping 25% tariffs on $200 billion in Chinese goods Friday, those companies who’d already started moving production outside China are looking pretty smart. But those shifts come with their own headaches.

Seeing the TRAIN Law in its proper perspective

No surprise, TRAIN surfaced as an election issue: senators and congressmen who sponsored and voted for it are being unfairly though ineffectively targeted. Much of the conversation also missed the point that TRAIN is part of a larger national project designed to put our fiscal house in order coherently and comprehensively. This is an ambitious undertaking never attempted in past administrations where tax reform tended to be more piecemeal or driven by donor institutions like the IMF, or an actual or potential fiscal crises.

Co’s Puregold sets 8-10% sales growth target

PUREGOLD PRICE Club, Inc. targets to grow consolidated net sales by 8-10% in 2019, banking on the opening of more stores and the positive performance of more mature branches.

Mother: Not just an input of GDP

The unpaid household chores and care work rendered by women is valued at 20% of the Philippines’ gross domestic product (GDP), according to Research Fellow Michael M. Abrigo of the Philippine Institute for Development Studies (BusinessWorld April 2, 2019). This is quantified at nearly P2 trillion. According to 2015 data, only 2% of males help out with the house and care work of their spouses and mothers (Ibid.).

DMWAI Q1 earnings up 9%

D.M. WENCESLAO & Associates, Inc. (DMWAI) grew its earnings by 9% in the first quarter, thanks to strong revenues from its office leasing business.

Choices have a cost

PAUL SAMUELSON, Nobel laureate in Economics, and the author of the basic textbook, Economics (first published in 1948 with at least 19 editions since then) which we used when I was taking up the course in college, explained economics simply as the allocation of scarce resources, using the famous two choices of guns and butter and the trade-off this process implies.
Philippine Airlines (PAL)

PAL operator trims loss in Q1 as fuel costs decline

AFTER a challenging 2018, local airlines are showing signs of recovery, with both Philippine Airlines (PAL) and Cebu Pacific recorded a growth in passenger volume during the first three months of 2019.

Hyundai Asia Resources hopes to decide on plant expansion before end-2019

HYUNDAI Asia Resources Inc. (HARI) said it will decide by yearend whether or not it will push through with a P5-billion plant expansion.

How PSEi member stocks performed — May 10, 2019

Here’s a quick glance at how PSEi stocks fared on Friday, May 10, 2019.  
power lines pylons electricity

ERC reviewing norms for allowable levels of power plant outages

THE Energy Regulatory Commission (ERC) said it is reviewing the number of unscheduled outages that power plants are permitted over a year, which will seek to benchmark against the outage rate allowed in other jurisdictions have adopted.

Toyota unveils new Avanza

PUERTO PRINCESA, PALAWAN -- Toyota Motor Philippines (TMP) unveiled last Thursday the refreshed version of its popular multi-purpose vehicle (MPV), the Avanza. The new iteration banners a sportier look, reworked dashboard with a new infotainment system, and more safety features.

Beverage industry to be audited over sugar tax collection shortfall

THE DEPARTMENT of Finance (DoF) said it will pursue an audit of the beverage industry after missing collection targets for Sugar-Sweetened Beverages (SSBs) in 2018, to validate whether users of highly-taxed corn syrup did indeed switch to sugar as claimed.

BWORLD TEST: MG ZS AT Alpha

MG is a British sports car maker that dates back to 1924. Its halcyon years were the 40’s through the 70’s, when it came out with some of the most iconic roadsters of the time. These included the immortal MG TC, TD and TF of the 40’s and 50’s, followed by the MGA, MGB, MGB GT coupe, and MG Midget from the 60’s through the 80’s.

PHL rice imports seen dropping on strong inventories, production

THE PHILIPPINES is expected to reduce its rice imports due to ample inventories and increased production forecast for 2019/2020, the US Department of Agriculture (USDA) said.