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Monthly Archives: May 2019

LBC sells QuadX to subsidiary

LBC Express Holdings, Inc. said it is selling its shares in QuadX, Inc. to a subsidiary as part of a plan to refocus the e-commerce firm’s strategy.

Airbus moves staff to help secure Hamburg jet output

PARIS/HAMBURG -- Airbus is mobilizing staff from outside Germany to assist with a tricky production ramp-up of A321 passenger jets at its plant in Hamburg, industry sources said.


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DoF anniversary, reunion and outlook

At the 122nd Department of Finance (DoF) anniversary hosted by Finance Secretary Carlos G. Dominguez III on May 6, it was a wonderful reunion of former DoF Secretaries: Prime Minister Cesar Virata, Ed Espiritu, Jose Pardo, Gary Teves and former Undersecretaries Romy Bernardo, Kune Gison, Chil Soriano, Ruben Fruto, among others. Present were current DoF Undersecretaries and agency heads: Karl Chua, Gil Beltran, Antonette Tionko, Bayani Agabin. Also present were Philippine Deposit Insurance Corp. President Bobby Tan, Securities and Exchange Commission Commissioner Tonette Ibe, Bureau of Internal Revenue Commissioner Caesar Dulay, National Treasurer Rosalia de Leon, Development Bank of the Philippines President Manny Herbosa, Land Bank of the Philippines’ Cecille Borromeo, and Philippine Export-Import Credit Agency head Albert Pascual, among others.

Five questions to ask in managing work overload

We have a flexitime work schedule allowing our employees to attend to their various personal activities, like bringing kids to school or pursuing graduate studies, and applies even to navigating daily commuting hassles. We receive above-average pay and perks for our industry and this makes the workforce doubly satisfied. Personally, I like this flexible schedule except for the fact that our department boss keeps loading me with many special projects that upset my day-to-day plans. It appears that I am not alone in this. Many of my colleagues are complaining of the same thing. Clearly, flexitime has become a sham to cover for our pressure-cooker work environment. How do we manage our situation? -- Overly Stressed.
Skyjet

Senate OK’s Magnum Air franchise

THE Senate has approved on third and final reading the bill granting a 25-year air transport franchise to Magnum Air, Inc., which operates SkyJet Airlines.

Your Weekend Guide (May 31, 2019)

THE final performances of The Kundiman Party will be this weekend at the PETA Theater Center in Quezon City until June 2.

How PSEi member stocks performed — May 30, 2019

Here’s a quick glance at how PSEi stocks fared on Thursday, May 30, 2019.
okra farmer

Agriculture under pressure to contribute more to growth

THE Department of Agriculture (DA) said it will step up its seed and fertilizer distribution and support the poultry industry to help the government catch up on its spending, after the delay in the 2019 budget dampened economic growth during the first quarter, as pressure from elsewhere in the government mounted on the DA to pull agriculture out of its 10-year spell of weak growth.
BoT BTr treasury

Government debt falls month-on-month in April amid stronger peso

OUTSTANDING government debt declined month-on-month in April due to a stronger peso, the Bureau of the Treasury (BTr) reported.

Income inequality widening amid strong economic growth

THE regional disparity in wealth has widened throughout the years, mitigated only by high levels of overall economic growth and a trend towards reduced poverty, the National Economic and Development Authority (NEDA) said Thursday.

PAGCOR revenue rises over 11% in first four months to P25.09 billion

THE Philippine Amusement and Gaming Corp. (PAGCOR) said Thursday that revenue rose 11.44% year-on-year to P25.09 billion in the four months to April, amid strong fees from gaming licensees and offshore gaming operators.

CA upholds copyright infringement ruling against Chinese firm

THE Court of Appeals (CA) affirmed a December 2017 Manila court decision finding a Chinese company and its three local partners guilty of copyright infringement and ordering them to pay P24.7 million in damages to a Philippine publisher.

MMDA garbage-hauling costs questioned in House

THE House committee on Metro Manila Development questioned the Metro Manila Development Authority (MMDA)’s spending on garbage collection in 2018, raising the possibility that the MMDA overpaid or is not going about it efficiently.

Blueprint for unrest

The way the Philippine Party List System has worked, since it was created by the 1987 Constitution to assure “proportional representation” in the House of Representatives and the Party List Act ( Republic Act 7941) was passed in 1994, has provoked even the Commission on Elections (Comelec) to consider asking Congress to amend the law. But it is unlikely that that body will do so -- at least not towards making it truly serve the voiceless and marginalized sectors of Philippine society.

US-China relations at Jeju Forum

Jeju, S. Korea -- The two largest economies in the world, the US and China, have GDP sizes in 2018 of $20.5 T and $13.4 T, respectively. Third to fifth largest are Japan with $5 T, Germany with $4 T, and UK with $2.8 T.

Love’s wrong premises

Perhaps Naomi Wolf, the liberal progressive feminist writer, symbolizes it best.

The Aquarium spectacle

Goldfish and tropical fish are like humans in the limelight. Life in an aquarium or a glass house is a constantly moving spectacle.

Peso rebounds ahead of data on US GDP growth

THE PESO recovered against the dollar on Thursday as market players positioned ahead of US gross domestic product (GDP) growth data released last night.
PSE

Local stocks rise despite US-China trade tensions

LOCAL STOCKS continued to climb on Thursday as investors brushed off ongoing developments in the US-China trade war.
Teodoro L. Locsin, Jr.

DFA chief: Canada trash shipped out of PHL

THE shipment of all 69 waste containers back to Canada has pushed through, with the Canadian government shouldering some P10 million in shipment costs.

Duterte OK’s auction of Marcos jewelry

PRESIDENT Rodrigo R. Duterte has approved the sale of the jewelry collection seized from former first lady and now Ilocos Norte-2nd district Rep. Imelda R. Marcos.
Rodrigo R. Duterte

Analysts: Duterte’s health a ‘lesson’ for next gov’t

CONTINUED public speculations regarding the health of President Rodrigo R. Duterte, triggered by Malacañang’s handling of this matter, is an important “lesson” for the next administration, analysts sought for comment said.
Supreme Court (SC)

SC grants writ for amparo, habeas data for rights groups

THE Supreme Court (SC) has granted a writ for amparo and habeas data in favor of human rights groups for their protection against alleged attacks and red-tagging by the government.

Police encourages students to report cyberbullying

THE PHILIPPINE National Police (PNP) said cyberspace is emerging as a new venue for bullying, with students comprising most of the victims in reported cases.

Road closures in Makati on May 31 for Flores de Mayo

SEVERAL ROADS in Makati City will be closed on Friday, May 31, from 1 to 7 p.m. to give way to the annual Flores de Mayo parade. which will start from the city hall quadrangle leading to the Globe Circuit Events Grounds.

Kennon, 2 other road sections in CAR closed

KENNON ROAD, one of the routes going to mountain city destination Baguio, is closed due to a rock slide in one area, the Department of Public Works and Highways (DPWH) announced on Thursday.

Phoenix, ROS make Commish Cup debut

PHILIPPINE Cup semifinalists Phoenix Pulse Fuel Masters and Rain or Shine Elasto Painters make their debut in the ongoing PBA Commissioner’s Cup in the scheduled double-header today at the Mall of Asia Arena.

NBA Finals today: Game 1

TORONTO -- The Toronto Raptors are playing in their first NBA Finals, and that makes the Golden State Warriors’ fifth consecutive appearance slightly different.
PECO FACEBOOK

PECO says expropriation hearings ‘premature’ without ruling on MORE Power’s franchise

ILOILO CITY’S power distributor, Panay Electric Company, Inc. (PECO), said it would be “premature” for the Iloilo Regional Trial Court (RTC) to proceed with the hearings on the expropriation of its assets by its competitor, MORE Electric and Power Corp. (MORE Power), without a ruling on another case filed before the Mandaluyong RTC.

Kawhi Leonard: Here for championship, not fame

TORONTO -- Kawhi Leonard loses zero sleep pondering his place in the pantheon of NBA greats. The Toronto Raptors’ All-Star is restlessly pursuing only one thing: a championship ring.

Green Archers United books 1st PFL win; Kaya, Ceres also victorious

GREEN ARCHERS United FC barged into the win column of the ongoing season of the Philippines Football League (PFL) after hacking out a hard-earned 1-0 victory over Global Cebu FC on Wednesday at the Rizal Memorial Football Stadium.

Back-to-school crowd

With the opening of the new school year on June 3, several ports around the country have started recording higher volume of passengers this week, like at the Port of Dapa in Siargao as some the island’s student residents travel to Surigao City for enrolment.

French Open: No sweat for Nadal and Federer, Bertens pulls out

PARIS -- Defending champion Rafael Nadal continued to chomp his way through the French Open draw on Wednesday and Roger Federer also maintained his smooth progress into the third round.

Access Bangsamoro launched to provide online platform for BARMM discussions

THE ACCESS Bangsamoro Website (accessbangsamoro.ph) was launched Thursday (May 30) “to promote the free flow of information, analysis, and discussions” relating to the Bangsamoro Organic Law (BOL) and the transition into the new Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

Davao City pitches business, tourism opportunities to South Korean investors

THE DAVAO City government held a three-day roadshow in Seoul, South Korea last week to boost trade and tourism ties.

Bautista shares lead of Seniors Chess Championship

Sydney, Australia-based Edgar “Bote” Bautista toppled Vic Alfaro after 26 moves of Dutch defense to grab the share of lead after six rounds in the 2019 National Seniors Chess Championship (Standard competition) at the Philippine Academy for Chess Excellence (PACE) No. 56 Mindanao Avenue in Project 6, Quezon City on Wednesday.

New head coach, new players for team BanKo Perlas in PVL

WITH major changes in its coaching staff and player roster earlier this year, the BanKo Perlas are preparing more extensively for the upcoming season of the Premier Volleyball League (PVL).

Underdogs

The Raptors have every right to celebrate their first-ever appearance in the National Basketball Association Finals today. No matter what happens in Game One and through the rest of the championship series, they will have already succeeded in proving to all and sundry their arrival as a real force. Even as they contended in previous playoffs, their seeming competitiveness was always deemed fool’s gold given their failure to emerge as the East’s standard bearers when the battlesmoke cleared. This season, they’ve managed to go over the hump, beneficiaries as much of boldness as of no small measure of good fortune.

Nation at a Glance — (05/31/19)

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

Argentina’s first steps to independence

In the lower part of South America, Argentina celebrates its National Day every 25th of May. More known as the May Revolution Day, or...

Duterte pitches ‘corruption-free’ PHL

A DAY after the release of the 2019 World Competitiveness Report showing the Philippines partially recovering from a nine-notch fall on a list of 63 economies but still second to the last in Asia and the Pacific, President Rodrigo R. Duterte assured a gathering of Japanese businessmen in Tokyo of a “corruption-free” business environment in which he would meet “in 24 hours” with anyone who has a complaint about “hindrances, obstruction or outright corruption.”

Back to square one for Public Service Act amendment

IT’S BACK to square one for the bill amending the 82-year-old Public Service Act (PSA) to lift foreign ownership limits in certain sectors as it will fail to secure final approval with two session days left for the 17th Congress to wrap up its business.

Pre-merger information exchange restricted

BUSINESSES moving towards merger or acquisition should not exchange confidential business information until their deal has been approved, the Philippine Competition Commission (PCC) said in an April 11 guidance posted recently on its Web site.
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Rockwell Land eyes P10-B sales from new residential projects

ROCKWELL Land Corp. will be launching residential projects that could generate over P10 billion in sales for the year, including its first horizontal development in Laguna.