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Daily Archives: May 16, 2019 | 10:22 pm

DBM releases P1.3 trillion during Congressional budget impasse

THE Department of Budget and management (DBM) said it released P1.323 trillion in the four months to April while the government was operating mostly under a re-enacted 2018 budget, including a record unprogrammed release for transportation projects.
port of manila

PPA says strong port activity helped it generate P9.41 billion

THE Philippine Ports Authority (PPA) said it remitted a total of P9.41 billion in dividends and taxes to the national government in 2018, a record remittance fueled by strong revenue growth during the year.

DTI sees 10 business-to-business deals signed during Japan visit

THE Department of Trade and Industry (DTI) said the country will sign at least 10 business-to-business deals during the Philippine delegation’s visit to Japan in late May accompanying President Rodrigo R. Duterte.
Ninoy Aquino International Airport (NAIA)

NAIA consortium rehab proposal elevated to NEDA

THE SUPER consortium’s proposal to rehabilitate the Ninoy Aquino International Airport (NAIA) is now with the National Economic and Development Authority (NEDA), the Department of Transportation (DoTr) said.

EDC signs geothermal power supply deal with garment exporter Hamlin

ENERGY Development Corp. (EDC) said it signed an agreement to supply power from its geothermal plant to Hamlin Industrial Corp.’s facility in Cavite.

DoubleDragon unit CityMall signs deal to lease rooftops to cell tower companies

DOUBLEDRAGON Properties Corp. subsidiary CityMall Commercial Centers, Inc. has agreed to lease its mall rooftops to common tower provider ALT Global Solutions, Inc. which proposes to build a network of cellular wireless towers.

The May elections, democracy, and the biggest losers

It’s really difficult to provide a brief coherent set of reflections on the essence of what happened in the recent elections. There’s an intuition that what just took place constitutes a watershed in Philippine history.

Information disorder

UNLESS there was widespread cheating and fraud on May 13, the Philippine electorate has apparently elected to the Senate enough Duterte candidates for that body to be fully under administration control.

Innovation, competitiveness and development in Asia

Kuala Lumpur -- I just attended the “Asian think tanks dialogue on Innovation, Competitiveness and Development” in Kuala Lumpur sponsored by the Geneva Network (UK). The event, last Wednesday, was attended by mostly free market-oriented and independent think tank leaders with participants from China, India, Indonesia, Malaysia, Myanmar, Philippines (me), Singapore, S. Korea, Thailand and Vietnam.

Simple creativity

“Genius is one percent inspiration and ninety-nine percent perspiration.” -- Thomas Alva Edison, inventor

The etiquette for losing

THOSE who enter contests are usually confident of winning, even if only by a stroke of luck. Getting ready with a victory speech (let’s take it one game at a time) may be considered bad luck. But do candidates even mull over the possibility (sometimes a big one) of losing and what to say in a concession speech?

Ateneo, UST make one last go at UAAP crown

AN EVENTFUL UAAP Season 81 women’s volleyball tournament boils down to one last game this weekend as the Ateneo Lady Eagles and University of Santo Tomas Golden Tigresses make a final go at being crowned University Athletic Association of the Philippines champions in their do-or-die Game Three match.

Lopez, Bucks overtake Raptors in opener

LOS ANGELES -- Brook Lopez scored a playoff-career-best 29 points and grabbed 11 rebounds as the Milwaukee Bucks used a fourth-quarter surge to defeat the visiting Toronto Raptors 108-100 Wednesday night in the opening game of the Eastern Conference finals.

San Miguel Beermen add to All-Filipino legacy with fifth title in a row

NOT THAT they needed further proof of their winning legacy in the All-Filipino conference of the Philippine Basketball Association but the San Miguel Beermen did exactly that after claiming a fifth straight Philippine Cup title on Wednesday night.

Cavs’ guard Sexton looking to take further flight in the NBA

ONE of the rookies who performed better in the 2018-19 National Basketball Association season, Collin Sexton of the Cleveland Cavaliers said he was proud of what he was able to accomplish in his first year and is looking to build on it and take further flight in The Association.


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Grizzlies to take Morant at No. 2

LOS ANGELES -- The Memphis Grizzlies reportedly are settled on selecting Ja Morant with the No. 2 pick in next month’s NBA draft, ESPN reported Wednesday night.

Blu Girls place fourth in Asia Cup, earn a berth for WBSC qualifying tourney

THE RP Blu Girls bowed to Chinese Taipei, 10-0, to finish fourth in the 2019 Asia Cup Women’s Softball Championship in Jakarta, Indonesia.

Elorde, Vea, Gonzales, Pichay grace GM Torre chessfest on Saturday

NO LESS than Rotary International District 3810 Governor Liza Elorde will be the guest of honor when the Southeast Asian Games qualification tournament dubbed as First Eugene Torre Cup Chess Championship gets under way on Saturday at the Mapua University Gymnasium in Muralla Street, Intramuros, Manila.

Course familiarity could give Tiger edge in upcoming majors

NEW YORK -- Tiger Woods should be a contender at this week’s PGA Championship and June’s US Open as he chases Jack Nicklaus’s record haul of major titles because of his familiarity with the venues, longtime associate Greg McLaughlin has told Reuters.

NOFA Cup: U13 football tourney amid fun, friendly atmosphere

HUNDREDS of footballers from all over the Philippines and their coaches are gearing up for the Negros Occidental Football Association (NOFA) Cup 2019, the fourth and biggest edition of the nationwide tournament dedicated to grassroots players, boys whose ages are 12 years old and below. The NOFA Cup matches will hold from May 29 to June 2 this year, at the Sta. Maria Football Field in Bacolod City, Negros Occidental.

Raptors rotation

If there ever was any game the Toronto Raptors could best steal at the Fiserv Forum, yesterday’s appeared to be it. They headed into the opener of the Eastern Conference Finals with significant momentum borne of a dramatic victory in the rubber match of their semifinal-round series against the Sixers. The monumental shot that set up their date with the regular-season-leading Bucks looked to have been a gift from the hoops gods, coming right at the buzzer and bouncing four times before finding the bottom of the net. And it was so defining for a franchise usually snakebitten this time of the year that Kawhi Leonard, its creator, could not but be feted in the aftermath as a savior destined to lead them to ultimate success.
PSE-BGC-BW2

PSEi sinks to 2019 trough as investors flee market

THE MAIN INDEX fell for the fifth straight session on Thursday on continued foreign outflows, with investors moving away from equities due to uncertainties in the US-China trade war.

Peso weakens ahead of RRR cut

THE PESO declined against the dollar to hit a fresh one-month low as market players awaited the central bank’s decision to trim lenders’ reserve requirement ratio (RRR).

Duterte sacks Food and Drug Administration chief

MALACAÑANG on Thursday announced that President Rodrigo R. Duterte has fired Director-General Nela Charade G. Puno of the Food and Drug Administration (FDA) for alleged “graft and corruption.”

Fitch sees ‘continuity’ in midterm poll results

CREDIT-RATING agency Fitch, in a statement on Thursday, said it sees “policy continuity” in the remainder of President Rodrigo R. Duterte’s term, following the midterm elections.

DFA recalls envoys in Canada over trash

MALACAÑANG on Thursday said the recall of Filipino representatives from Ottawa over the delayed trash shipments serves as a warning by President Rodrigo R. Duterte that his administration is ready to “sever” 70 years of diplomatic relations between Canada and the Philippines.

PDEA finds 120 PUV drivers, conductors testing positive for drugs since late 2018

MORE THAN 100 public transportation drivers nationwide have so far been tested positive for using illegal drugs, the Philippine Drug Enforcement Agency (PDEA) said in an update Thursday on its surprise drug tests which began late last year.

All that election trash

CENTRAL VISAYAS: CEBU CITY A pedestrian walks past campaign posters dumped along Archbishop Reyes Avenue in Cebu City. DAVAO: MATI CITY, DAVAO ORIENTAL Members of a multi-sector...

Comelec calls for filing of complaint over alleged pre-shaded ballots shown in video

MALACAÑANG ON Thursday said the Commission on Elections (Comelec) should conduct an investigation into the reported pre-shading of ballots in Lanao del Sur during the 2019 midterm elections held last Monday.

VM-elect Rama backs P18B UHRI project, but wants contract review

CEBU CITY’s incoming vice-mayor, Michael L. Rama, wants the P18-billion integrated resorts and casino project of Universal Hotels and Resorts, Inc. (UHRI) on Kawit Island to push through, but will call for a review of the contract signed with the city government. Mr. Rama, who will chair the city council, said he will support the project despite attempts by his allies in the council to stop it.

Evasco to file failure of election petition in Bohol, accuses proclaimed winner Yap of...

LEONCIO B. Evasco, Jr., who lost his bid for the governor’s seat in Bohol by 2,161 votes based on 100% of election returns transmitted, is filing a petition for a failure of elections declaration in the province as he accused the winning candidate, incumbent Rep. Arthur C. Yap, of massive vote-buying.

Political rivals Catamco, Taliño-Mendoza to lead Cotabato

COTABATO 2nd District Rep. Nancy A. Catamco won her bid as provincial governor, beating four others, including her number one opponent, Rogelio T. Taliño, the incumbent mayor of Carmen town.

PHL-China ‘medical diplomacy’ comes to Davao City

MEDICAL EXPERTS of the Sino-Philippines Asia Peace Awards Foundation have donated various equipment to the Davao City Health Office and the private Brokenshire Memorial Hospital as part of what it calls “medical diplomacy” initiatives.

Nation at a Glance — (05/17/19)

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

How SSI secured deal for Shake Shack franchise

SHAKE SHACK is officially opening today its first Philippine branch in the heart of Bonifacio Global City (BGC), a long way from its start...

New narratives: How Wattpad is disrupting the multimedia industry

EXCLUSIVE: Wattpad’s CEO discusses their impact on the multimedia industry

PHL returns to ‘panda’ bond mart

THE PHILIPPINES returned to China’s bond market on Wednesday after more than a year, offering 2.5 billion renminbi ($363.3 million) in three-year papers amid perceived strong investor demand.
Rodrigo R. Duterte

Fitch Solutions cites policy boost, long-term political risk as Duterte consolidates influence on Congress

EMERGING results of the May 13 mid-term elections showing President Rodrigo R. Duterte will likely consolidate his influence on lawmakers, especially those in the Senate, will mean stronger impetus for reform but also carry long-term political risk, Fitch Solutions Macro Research said in a May 14 note e-mailed to journalists on Wednesday.

Cebu Pacific ‘sternly warned’ over spate of flight cancellations

THE CIVIL Aeronautics Board (CAB) will not penalize Cebu Pacific for its spate of flight cancellations in two weeks from end-April to early May, but is requiring the budget carrier to submit a concrete plan of action to prevent recurrence of the problem.

Megaworld profit up 16%

MEGAWORLD Corp. grew its attributable profit by 16% in the first quarter of 2019, driven by the strong performance of its residential, leasing, and hotel businesses.

Smashburger drags Jollibee income lower in Q1

EARNINGS of homegrown food giant Jollibee Foods Corp. (JFC) dropped by 14.7% in the first quarter of 2019, pulled down by losses of recently acquired burger chain Smashburger and weak consumer sentiment.

Villar’s VLL nets P2.85 billion in 1st quarter

VILLAR-LED Vista Land and Lifescapes, Inc. (VLL) posted an attributable profit of P2.85 billion in the first quarter of 2019, 12% higher year on year.

Holcim PHL shows flat profit growth for January-March

HOLCIM Philippines, Inc. (HPI) booked flat profit growth in the first quarter of 2019 due to lower sales and higher interest expenses.
Filinvest-Land-Incorporated-logo

Filinvest Land income rises 24%

FILINVEST Land, Inc. (FLI) booked a 24% increase in earnings in the January to March period on the back of strong rental and real estate revenues.

GMA to launch DTT device by 2nd half

GMA NETWORK, Inc. said it will be launching a digital terrestrial television (DTT) device this year, which will allow users to stream its free-to-air shows through mobile phones.