Home 2019 June 7

Daily Archives: June 7, 2019 | 8:00 pm

United Nations (UN)

Human rights experts push for UN probe on Philippine violations

HUMAN RIGHTS experts on Friday called on the United Nations (UN) Human Rights Council to launch an independent investigation on the alleged violations in the Philippines, which they said has been worsening with the government showing no signs of intent to address the situation.

BSP chief ‘cautiously optimistic’ on Philippine economy

BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno is “cautiously optimistic about the current state of the Philippine economy,” amid lingering global headwinds.
dollars

PHL dollar reserves climb for 7th straight month

GROSS international reserves (GIR) climbed for the seventh straight month in May, the central bank said on Friday.

Veterans office says no payments made to dead pensioners

THE PHILIPPINES Veterans Affairs Office (PVAO) on Friday clarified that there were no payments made to dead pensioners last year, which was flagged by the Commission on Audit (COA).
PhilHealth

Duterte orders detailed report on PhilHealth irregularities

PRESIDENT RODRIGO R. Duterte has directed the Philippine Health Insurance Corp. (PhilHealth) to file criminal charges against its officials involved in the funding of “bogus” kidney dialysis treatments.

Bautista accepts Tulfo apology with conditions

DEPARTMENT OF Social Welfare and Development (DSWD) Secretary Rolando D. Bautista on Friday said he is willing to accept the apology of media personality Erwin T. Tulfo, who berated him on national radio, but with several conditions, including a public apology on various platforms and a donation of at least P300,000 each to 19 organizations and institutions.
Juan Edgardo M. Angara

Angara assures tobacco farmers of benefits from new cigarette taxes

SENATOR EDGARDO “Sonny” M. Angara has assured tobacco farmers that they will benefit from the incremental increase in cigarette taxes starting next year following the recent passage of the bill that will increase excise taxes on tobacco products.

Fish kill in Taal Lake should not affect tilapia market price, says BFAR

DEPLETED LEVEL of dissolved oxygen caused the recent fish kill in Taal Lake, the Bureau of Aquatic Resources (BFAR) said, but assured consumers that the volume affected is minimal and should not affect the market price of tilapia.

Duterte asks CoA to allow P5M Marawi fund used for Hajj pilgrimage

PRESIDENT RODRIGO R. Duterte has asked the Commission on Audit (CoA) to “reconsider” its decision questioning the use of Marawi rehabilitation funds by the Housing and Urban Development Coordinating Council (HUDCC) to sponsor the Hajj trip of some displaced residents of the war-torn city.

6 Chinese arrested for kidnapping, bribery

THE NATIONAL Bureau of Investigation (NBI) reported on Friday that they nabbed six Chinese nationals for kidnapping fellow Chinese and bribing local agents.


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Policies needed to boost ASEAN’s digital economy

DESPITE high participation in digitally-enhanced services trade among members of the Association of Southeast Asian Nations (ASEAN) between 2010 and 2016, policies to improve broadband penetration are needed to boost economic growth, especially in the Philippines and Indonesia, according to the World Bank.

Israeli envoy explores cooperation opportunities in tech, agri during Iloilo visit

ILOILO CITY — Israeli Ambassador to the Philippines Rafael Harpaz visited Iloilo earlier this week to explore cooperation opportunities in line with its goal to strengthen ties with the Philippine through local partnerships in the regions.
rice import NFA

NFA posts highest summer crop procurement

THE National Food Authority (NFA) recorded its highest summer crop procurement in five years at 4.76 million bags.

Italpinas to raise up to P650M from preferred share issuance

ITALPINAS Development Corp. (IDC) looks to raise up to P650 million from the issuance of preferred shares.
City of Dreams Manila

Melco PHL seeks SEC nod for equity restructuring

MELCO Resorts and Entertainment (Philippines) Corp. (MRP) has applied for equity restructuring at the Securities and Exchange Commission (SEC), in an effort to wipe out its deficit.

Angry K-pop fans spur probe into Tencent-backed Shopee

THE Philippines has begun an investigation into Sea Ltd. online mall Shopee after fans of K-pop girl group BlackPink complained it mishandled promotions around a meet-and-greet event.
1000 peso bills

Peso weakens on foreign selling at stock market

THE PESO weakened versus the dollar on Friday to go back to the P52-per-dollar level after some net foreign selling at the stock market.

Local shares rise despite lack of fresh leads

SHARES continued to move higher on Friday albeit on thin trading, as investors waited for new catalysts that could boost the stock market.

Concocting an appreciation of wine among Filipinos: Q and A with Novellino Founder Nonoy...

Novellino Wines celebrates its 20 years as a leading brand of wine in the Philippines that has formed an appreciation of wine among Filipinos....

Injap Sia: the young visionary

Edgar ‘Injap’ Sia II, the Philippines’ youngest billionaire, shares a glimpse of his life, entrepreneurial insights, and dreams for the Filipinos Edgar J. Sia II,...

How to start down a path to success

By Bjorn Biel M. Beltran, Special Features Writer Success is never a straightforward path. Often, especially when just starting out, one can find many seemingly insurmountable...

What executive talents and companies expect from search firms

By Mark Louis F. Ferrolino, Special Features Writer Key executives, among other talents, face the most challenging transition in their careers. As they pursue opportunities outside...
Ren Yen Dollar Euro

Q1 FDI pledges grow more than threefold

FOREIGN direct investment (FDI) commitments grew more than threefold last quarter, the Philippine Statistics Authority (PSA) reported on Thursday.

Meralco bills drop for 2nd month in June

CUSTOMERS of Manila Electric Co. (Meralco) should see lower bills for the second straight month in June, the utility announced on Thursday, citing a lower generation charge for power purchased in May.
tourist tourism handicrafts

Tourism contribution to national output biggest since at least 2012

THE TOURISM INDUSTRY’s contribution to the economy grew in 2018, according to data which the Philippine Statistics Authority (PSA) released on Thursday.

IMF chief warns US-China spat to slash 2020 global growth

WASHINGTON -- The International Monetary Fund (IMF) does not see the threat of a global recession brought on by a widening US-China trade war and potential US tariffs on Mexican goods and autos, IMF Managing Director Christine Lagarde said on Wednesday.

Singer Julio Iglesias calls 50-year career ‘a miracle’

LOS ANGELES — At age 75, singer Julio Iglesias can’t run and can no longer play soccer. But still singing for a living after 50 years? That, he said, is “a miracle in my life.”

Godzilla from radioactive colossus to unlikely climate hero

LONDON — Ever since Godzilla first rampaged across cinema screens 65 years ago, film critics have seen the reptilian anti-hero as a symbol of the fears gnawing away in the deepest recesses of moviegoers’ minds.

Stream with Pride: Netflix’ suggestions for Pride Month

IN celebration of Pride Month this June, Netflix has come up with a list of movies and shows about how love and family come in all colors and stories.

Actor Jussie Smollett not returning to Empire, the TV show’s creator says

LOS ANGELES — Jussie Smollett will not be returning to US television series Empire, the show’s creator says, marking the first public confirmation that the actor has been dropped after a furor over claims that he was the victim of a hate crime.

Deloitte opens 1st global delivery center in PHL

INTERNATIONAL consultancy firm Deloitte is bullish on growth in the Asia Pacific through a newly opened delivery center in the Philippines.

Madonna loses appeal over auction of Tupac Shakur breakup letter

NEW YORK — Madonna lost a court battle to keep a trove of intimate belongings including a pair of satin panties, a brush containing her hair, and a breakup letter from a former boyfriend, the late rapper Tupac Shakur, from heading to the auction block.

Ayala sets modest Maxus sales target this year

THE AYALA group on Wednesday officially launched Chinese auto brand Maxus in the Philippines, with the introduction of a multi-purpose vehicle (MPV) and van.

New training approaches seen needed for Gen Z first wave

AS THE EARLIER WAVES of Generation Z start to enter the workforce, education and training becomes more and more critical in insulating them from the threat of technological disruptions, a consultant said.

Criminal haunting

CRIME procedurals have always been a popular TV series genre and with the multitude of such series airing, the main challenge is how to offer something different — and that is what The Inbetween is trying to do as the show combines a crime procedural with the paranormal.

DM Wenceslao sees strong demand for MidPark Towers

D.M. Wenceslao & Associates, Inc. (DMW) is launching the third tower of its residential development MidPark Towers this month, after selling over P4.3 billion worth of units in same project over the last six months.

Demand for term deposits rises

DEMAND for term deposits increased on Thursday after the first round of cuts to lenders’ reserve requirement ratios (RRR), but was still not enough to fill the amount placed on the auction block.

Bernie Sanders urges Walmart to boost ‘starvation wages’

ROGERS, ARK. -- Democratic US presidential hopeful Bernie Sanders on Wednesday told Walmart Inc shareholders and top executives that the world’s largest retailer should boost the “starvation”-level wages it pays its workers and stop fueling income inequality.

Comic Jo Koy’s second special on Netflix

RETURNING for Fil-Am comic Jo Koy’s second Netflix special, Jo Koy: Comin’ In Hot, Koy will present a dazzling display of hula dancing and an arsenal of self-deprecating humor tackling such issues as how to raise a millennial, and the intricacies of Filipino traditions.

AbaCore hikes capital stock as unit prepares P155-B energy project

ABACORE Capital Holdings, Inc. is hiking its capital stock to prepare for an affiliate’s development of a P155-billion energy project in Batangas with Chinese firms.

Regulations, connectivity hampering banks’ digital shift

DESPITE expressing willingness to adopt digital banking, more than half of lenders in the Asia Pacific region are yet to offer new clients processes for opening fully digital accounts, Fair Isaac Corp. (FICO) said.

Rolls-Royce agrees UK’s biggest pension deal with insurer L&G

LONDON -- Rolls-Royce’s pension scheme has agreed to transfer 4.6 billion pounds ($5.83 billion) of assets to insurer Legal & General in Britain’s largest ever transfer of corporate pension risk.

Anthony Bourdain: Parts Unknown returns

A YEAR after his death, the Discovery Channel looks back at Anthony Bourdain’s best travels and commemorates the legacy of the genius chef, award-winning author, and host in the brand new season of top-rated Emmy and Peabody award-winning series Anthony Bourdain: Parts Unknown.

DMCI boosts land bank to 150 hectares as of March

DMCI PROJECT Developers, Inc. has increased its land bank to 150 hectares worth P10.2 billion by end-March, supporting its aggressive expansion plans across the country.

Airbnb says it’s back in business in Japan

AIRBNB, Inc. says it’s back in business in Japan, a year after stricter home-sharing regulations forced it to freeze a major portion of its listings in the country.