Home 2019 May 14

Daily Archives: May 14, 2019 | 10:15 pm

Duterte to visit Japan in late May

PRESIDENT Rodrigo R. Duterte is set to visit Japan from May 29 to 31 on a Prime Minister Shinzo Abe’s invitation, Cabinet officials said Tuesday.
NFA rice warehouse

NEDA sees rice tariffs exceeding P10 billion quota for RCEF

THE NATIONAL Economic and Development Authority (NEDA) said it is expecting more than the authorized P10 billion total to be collected from rice import tariffs under the Rice Tariffication Law, with the excess to be used to help farmers diversify into other crops.
farmer rice field

Palay output falls 4.6% in Q1 to 4.69 million MT

PRODUCTION of palay, or unmilled rice, fell 4.6% year-on-year in the first three months of 2019 to 4.69 million metric tons, the Philippine Statistics Authority (PSA) said.

UN agency IFAD to provide $62.9 M loan for poverty-reduction

THE International Fund for Agricultural Development (IFAD) has signed a financing agreement with the Philippines supporting a poverty-reduction and income-raising program covering 20 of the poorest provinces in Mindanao and the Eastern Visayas.

PAGCOR remits record P16.17 billion dividend to Treasury

THE Philippine Amusement and Gaming Corp. (PAGCOR) remitted a record dividend of P16.17 billion to the National Treasury on Tuesday.

MPIC still interested in MRT-3 O&M concession

THE Metro Pacific group said it remains interested in investing in the Metro Rail Transit Line 3 (MRT-3), after the government said earlier this month that it wants the private sector to come in for the operations and maintenance (O&M) of the train line.

ICTSI Ecuador unit docks first 10,000-TEU capacity vessel

THE Ecuador subsidiary of International Container Terminal Services, Inc. (ICTSI) handled its first container vessel of 10,000-twenty foot equivalent unit (TEU) capacity at the Port of Guayaquil, ICTSI said

Japan minister does not expect trade war to trigger economic crisis

TOKYO -- Japanese Finance Minister Taro Aso said on Tuesday the Sino-US trade war would not immediately trigger an economic shock on the scale of the “Lehman shock,” though the friction between the world’s two largest economies is unlikely to be resolved easily.

China says has agreed with US to continue trade negotiations

BEIJING/WASHINGTON -- China and the United States have agreed to keep talking about their trade dispute, the Chinese government said on Tuesday, as US President Donald Trump said he thought recent discussions in Beijing would be successful.

The living spirit of our democracy

When I think of Filipinos who suffer from poverty, hunger, and inequality, the more I value my democratic duty to vote and have my will as a Filipino be counted thru the ballot. Free elections are the living spirit of all democracies. Clean and honest elections bestow the people’s trust to legitimately govern and serve the interest of the people.

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Honoring those who stayed behind

I am writing this in Lourdes, France, the town of St. Bernadette to whom the Blessed Virgin Mary showed herself 18 times over a period of six months, from February to July, 1858. My wife and I are part of a pilgrimage to holy sites where Mother Mary appeared before young children to deliver messages to the world. Our trek began in Fatima in Portugal, stopped over in Madrid and Barcelona in Spain, and will culminate in Rome, with a visit to the Vatican and, hopefully, an audience with Pope Francis.
PCC logo

Developments in the Philippine Competition Commission’s enforcement activities

Early this year, the Philippine Competition Commission (PCC) Enforcement Office launched a leniency/whistleblower program offering immunity from suit and reduction of fines to cartel members who will provide information that will help the PCC investigate and prosecute cartels. This forms part of the PCC’s increased efforts in cracking down on anti-competitive agreements and conduct.

Senatorial elections and economic legislation

Kuala Lumpur -- During the May 2018 Malaysian elections between former PM Najib and returning PM Mahathir, the latter was an underdog, he promised that if he wins, he would abolish the gross sales tax (GST) of 6%. He won, he did what he promised, and GST went down from 6% in May to zero in June. Result was drastic, across the board price declines and inflation rate went down from 1.8% in May to only 0.8% in June 2018. The average inflation January-May 2018 of 1.7% became 0.6% in June-October 2018.

Peso at one-month low on US-China trade war

THE PESO plunged to a one-month low against the dollar on Tuesday due to China’s retaliation against the United States’ imposition of increased tariffs on Chinese goods.
PSE BGC bells

Shares plunge as China hikes tariffs on US goods

SHARES PLUNGED on Tuesday after China’s tariff hike retaliation against the United States, alongside impacts of the MSCI rebalancing.

Dynasts fall in parts of NCR

DYNASTS were toppled in parts of the National Capital Region, according to results of the local race in this year’s midterm elections.

Canvassing of votes begins

THE National Board of Canvassers (NBoC) convened on Tuesday, canvassing the first few certificate of canvass (CoC) from the midterm elections held Monday.

2 VCMs burned in Isabela hotspot; PNP probes why BEIs unescorted

TWO VOTE counting machines (VCM) were burned on Tuesday morning by still unidentified armed men in Jones, Isabela, an area identified as an election hotspot and categorized under “grave concern.”

UHRI files building permit application for P18-B resort-casino project

GOKONGWEI-LED Universal Hotels and Resorts Inc. (UHRI) has filed its application for a building permit to start the construction of the P18-billion integrated resorts and casino development project on Kawit Island at the South Road Properties.

Labella is new Cebu City mayor

VICE-MAYOR Edgardo C. Labella (left) defeats Mayor Tomas R. Osmeña in the mayoralty race in Cebu City.

VM Lim defeats reelectionist Fernandez

DAGUPAN CITY Vice-Mayor Marc Brian C. Lim defeated reelectionist Mayor Belen T. Fernandez by a narrow margin of 1,239 votes, based on unofficial results from 100% of election returns.

Rep. Treñas wins as Iloilo City mayor

REPRESENTATIVE JERRY P. Treñas of the lone district of Iloilo City will be serving next as mayor after he defeated his brother-in-law, incumbent Mayor Jose S. Espinosa III in Monday’s elections.

Alvarez-led candidates beat Floirendo-Del Rosario bets in Davao del Norte

DAVAO CITY — The hotly-contested province of Davao del Norte has been dominated by candidates under the Partido Demokratiko Pilipino–Lakas ng Bayan (PDP-Laban) headed by reelectionist 1st District Rep. Pantaleon D. Alvarez, defeating the Floirendo-Del Rosario clan under the Hugpong ng Pagbabago (HNP).

MILF prepares UBJP party for 2022 polls as BARMM transitions in post-midterm elections

SULTAN KUDARAT, MAGUINDANAO — Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) Chief Minister Murad Ebrahim, also chair of the former rebel group Moro Islamic Liberation Front (MILF), cast his vote Monday, his first time to participate in national elections.

Nation at a Glance — (05/15/19)

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

Philippine Cup champs to be crowned today

COMPETITION in the 2019 PBA Philippine Cup concludes today with the crowning of the champion between the San Miguel Beermen and Magnolia Hotshots Pambansang Manok who are to engage in a do-or-die match at the Smart Araneta Coliseum.

UST goes for closeout as Ateneo tries to stay alive

Celebration or extension? That is the scenario on hand today as Game Two of the best-of-three finals in women’s volleyball of University Athletic Association of the Philippines Season 81 is to be played at the Mall of Asia Arena.

Ceres out to keep unblemished record intact

THE lone undefeated team in its grouping in the 2019 AFC Cup, Ceres-Negros FC is out to stay unbeaten when it takes on Becamex Binh Duong of Vietnam in their final game in group play today at the Panaad Park and Football Stadium in Bacolod City.

Cavs to name Michigan’s John Beilein head coach

LOS ANGELES -- John Beilein is set to become head coach of the Cleveland Cavaliers.

Lillard, Blazers aim to give Warriors a battle

LOS ANGELES -- Damian Lillard hopes to close down his hometown arena on his own terms when the Portland Trail Blazers take on the two-time defending champion Golden State Warriors in the Western Conference finals, a best-of-seven series that tips off Tuesday night in Oakland, Calif.

Warriors’ star Kevin Durant out for Game 1 of West finals

LOS ANGELES -- Golden State Warriors star Kevin Durant will miss Game 1 of the Western Conference finals against the visiting Portland Trail Blazers on Tuesday due to a right calf strain, ESPN said Monday.

Philadelphia 76ers will retain Brett Brown as chief coach

LOS ANGELES -- Brett Brown will retain his job as chief coach of the Philadelphia 76ers, team owner Josh Harris told ESPN late Monday night.

Conference finals

And so another eventful round of the National Basketball Association playoffs drew to a close early this week, setting up the stage for the conference finals, which from all indications point to yet an interesting stretch anew in this season’s postseason.

The Process

It didn’t take long for the criticisms to rain on Sixers head coach Brett Brown. In fact, social media was flooded with second-guessing as soon as Game Seven of their semifinal-round series became history. Certainly, the heartbreak that Kawhi Leonard’s four-bounce prayer of a buzzer beater that sent them packing the other day served to rub salt on open wounds. Yet, if naysayers had any ground to stand on, it was precisely because the set-to had to be settled at the very last moment of the very last play. They forced the hosts to rely on inefficient isolation sets, and, still, they couldn’t get the job done, a reflection on lack of both planning and execution.

Key provincial cities showing strong property sector growth

GROWING interest from local and foreign investors, strengthened by the national government’s infrastructure push, is fueling the demand for residential and commercial properties in provincial cities.

Swiss-Belhotel looks to expand in PHL provinces

GLOBAL hospitality management chain Swiss-Belhotel International (SBI) is aggressively expanding in the Philippines, eyeing to manage six to eight properties in regional cities.
grocery imported goods

Moody’s Analytics sees faster growth

PHILIPPINE gross domestic product (GDP) expansion should pick up this year despite disappointing first-quarter growth, Moody’s Analytics said over the weekend, citing a boost from continued monetary policy loosening that can be expected from the Bangko Sentral ng Pilipinas (BSP) as inflation eases further.

How much economic boost does election spending deliver?

ELECTIONS are widely believed to have a growth-inducing effect on an economy.

A tale of spending during election years, 2000-2018

ELECTIONS are widely believed to have a growth-inducing effect on an economy. Read the full story.

LANDBANK ‘still intent on buying’ PDSHC majority

LAND BANK of the Philippines (LANDBANK) is still keen on acquiring majority stake in Philippine Dealing System Holdings Corp. (PDSHC), operator of the country’s fixed-income bourse, and is updating its proposal.

MPTC plans to submit proposal for NLEx extension to Bataan

THE extension of the North Luzon Expressway (NLEx) to Bataan, also called Phase 3 of the north toll road project, is seen to move forward this year with the planned submission of a proposal to the Toll Regulatory Board (TRB).

DoubleDragon-Alsons to invest P800M in Davao CentralHub project

DAVAO CITY — CentralHub Industry Centers, Inc. (CentralHub), a subsidiary of DoubleDragon Properties Corp., and homegrown Alsons Development and Investment Corp. (Alsons Dev) are investing P800 million for the planned industrial warehouse complex in the city.

A whole new version of ‘A Whole New World’

IN 1992, Filipino singer Lea Salonga, having just made a splash on Miss Saigon, got what many believed was a gig of a lifetime — a chance to sing what was sure to be a worldwide hit for a Disney animated movie. “A Whole New World” from Aladdin introduced her — or at least her voice — to a new generation of fans worldwide.

FPH allocates P30-B capex this year

FIRST Philippine Holdings, Inc. (FPH) will be spending about P30 billion in capital expenditures (capex) this year mainly to finance its power and property businesses.

Firefalldown releases new single

PHILIPPINE “post-hardcore” Christian band Firefalldown released its first single in three years, “Kahulugan,” a song about finding meaning and truth.