Home 2019 June 12

Daily Archives: June 12, 2019 | 10:19 pm

Department of Finance (DoF)

DoF eyeing smooth tax reform, import lib for more commodities

THE Department of Finance (DoF) has been ordered to step up its legislative liaison activities to ensure the passage of the remaining tax reform packages, ahead of the opening of the 18th Congrss on July 22, among other priorities that include exploring import liberalization for more agricultural products and the sale of the government’s stake in United Coconut Planters Bank (UCPB).

LTFRB won’t ease driver norms for ride-sharing industry

THE Land Transportation Franchising and Regulatory Board (LTFRB) said it will not ease its accreditation requirements to deal with a potential shortage of ride-share drivers, despite appeals to temporarily allow transport network vehicle service (TNVS) operators with pending documents to stay on the road.

Japanese businesses cite martial law, lack of direct flights as main Mindanao issues

DAVAO CITY -- Japanese Chamber of Commerce-Mindanao Vice-President Takeyoshi Sumikawa said many potential Mindanao investors from Japan are concerned about the prevailing martial law over the entire island and the absence of direct flights, particularly to and from Davao.

Visitor arrivals rise in four months to April on more flights, marketing activity

THE Department of Tourism (DoT) said international visitor arrivals in the four months to April were over 8% ahead of the year-earlier pace, led by visitors from China.

New Sangley airport deadline forces DoTr to order 24/7 construction

THE Department of Transportation (DoTr) is scrambling to complete upgrades to the Danilo Atienza Air Base on Sangley Point after President Rodrigo R. Duterte ordered the immediate use of the facility for general aviation to help decongest the Ninoy Aquino International Airport (NAIA).

Raw sugar output rises in mid-May amid declining prices, demand

SUGAR production up to the second week of May rose 3.8% year on year, the Sugar Regulatory Administration (SRA) said.

TESDA to survey construction, IT-BPM sectors on potential impact of automation

THE Technological Education and Skills Development Authority (TESDA) is hoping to launch a survey next month to evaluate the potential impact of automation on job training requirements.
Asian Development Bank (ADB)

Full menu of options needed for climate change adaptation — ADB

COMMUNITIES need to be able to make informed decisions about their options in response to climate change, according to a research paper from the Asian Development Bank (ADB).

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Business style clarified

One of the amendments introduced in the Tax Reform for Acceleration and Inclusion (TRAIN) Law is related to the issuance of receipts or sales/commercial invoices under Section 237 of the National Internal Revenue Code (NIRC). Previously, all persons subject to an internal revenue tax shall issue duly registered receipts or invoices for each sale of merchandise or services amounting to at least P25.00. With the passage of the TRAIN Law, Congress increased the threshold for the issuance of receipts and invoices to P100.00.

PBA: Northport hands Magnolia another loss

THE NORTHPORT Batang Pier rolled to their fifth win in six games in the Philippine Basketball Association Commissioner’s Cup on Wednesday, sending the Magnolia Hotshots Pambansang Manok to a second straight defeat, 102-99, in league action at the Smart Araneta Coliseum.

After Game Five defeat, Raptors forced to regroup

TORONTO -- Canadian basketball fans did not wake up on Tuesday nursing hangovers from a championship celebration but rather with a mild sense of panic after the Toronto Raptors missed a chance to clinch a maiden NBA title.

Woods feels Durant’s pain after Achilles injury

PEBBLE BEACH, CALIFORNIA -- Knowing all too well what it is like to be struck down by injury Tiger Woods spared a thought for Kevin Durant on Tuesday, after watching the Golden State Warriors forward crumple to the floor during a game against the Toronto Raptors.

Thiem seeks to end Serena row with offer to play mixed doubles

AUSTRIA’S DOMINIC THIEM has extended an olive branch to Serena Williams after their media room misunderstanding at the French Open by offering to partner the American in mixed doubles at Wimbledon or the US Open.

TMP’s Vios Racing Festival first leg successfully held

THE FIRST leg of Toyota Motor Philippines’ (TMP) Vios Racing Festival was successfully held last weekend at the Clark International Speedway in Pampanga.

Red Bull Reign on June 29

RED BULL’s signature streetball tournament – “Reign” -- returns to the country for a third straight year with the last chance qualifier and national finals slated for June 29.

Tukmakov on Wesley So

Between the reign of World Champions Anatoly Karpov (born 1951) and Garry Kasparov (born 1963) there was no one in the generation of Karpov who was strong enough to challenge for the world title. Players like Vladimir Tukmakov, Alexander Beliavsky, Rafael Vaganian, Oleg Romanishin, Vitaly Tseshkovsky, Gennady Kuzmin, Yury Balashov and Boris Gulko all had their days in the sun but their star never shone bright enough for them to be considered potential world champions. Strangely enough during this period the Soviets who actually did contend for the title were from the previous generation, Mikhail Tal, Tigran Petrosian, Lev Polugaevsky, Efim Geller and even Vassily Smyslov, who was the world champion from 1957 to 1958 but still was strong enough to participate in the Candidates’ matches in 1983 and 1985, at 62 and 64 years of age!

Plight of Durant

Hindsight always makes for 20/20 vision, so the wave of second-guessing that occurred in the aftermath of Kevin Durant’s ill-fated return to the court the other day was nothing if not predictable. The conditions behind his cameo appearance in Game Five of the Finals served only to make it more pronounced. He had been out for a month due to a right calf strain, and, with the Warriors down 1-3 and needing him to suit up just to survive, he -- and, just as importantly, those around him tasked with giving him the medical clearance to play -- faced the kind of pressure that leans, if not clouds, judgments in favor of taking on more risk. And, following the unfortunate turn of events, pundits have seen fit to view the decision in a manner that depicts all who gave the green light as reckless gamblers.

Defense chief calls for probe, diplomatic steps after Chinese vessel sinks, abandons Filipino boat

THE Department of National Defense (DND) confirmed on Wednesday afternoon that a Filipino vessel, which was anchored at Recto Bank in the West Philippine Sea, sank after it collided with a Chinese vessel on Sunday evening.

Palace not fazed should UN probe push through

MALACAÑANG expressed confidence that the call by the special rapporteurs of the United Nations (UN) for an independent investigation into alleged human rights violations in the Philippines will have no impact on the country’s membership in the international body.

CoA warns OVP, LGUs over funds for local projects

THE COMMISSION on Audit (CoA) has called out the Office of the Vice-President (OVP) to be stricter in monitoring funds disbursed to local government units (LGUs) from its budget.
Michael L. Romero

Romero still richest solon; ‘poorest’ is Kabataan’s Elago

REPRESENTATIVE MICHAEL L. Romero of 1 PACMAN Party-list remained the richest member of the House of Representatives based on the summary of Statements, Assets, Liabilities, and Net Worth (SALN) of congressmen as of December 2018.

Officials underscore freedom from poverty on 121st Independence Day

AS THE Philippines celebrated its 121st Independence Day on June 12, which marks the end of Spanish colonial rule, the country’s officials highlighted the continuing work needed to achieve freedom from poverty and social equality.
Emmanuel F. Piñol

PACC clears Piñol from corruption allegations

THE PRESIDENTIAL Anti-Corruption Commission (PACC) announced on Wednesday that it has cleared Agriculture Secretary Emmanuel F. Piñol from allegations of corruption.

DoJ to seek hold departure order vs suspects in ‘ghost’ dialysis case

JUSTICE SECRETARY Menardo I. Guevarra yesterday said the Department of Justice (DoJ) will apply for a hold departure order (HDO) against all accused in the “ghost” dialysis claims once the case is filed in court.

Deaths due to dengue in Western Visayas more than double to 48 in Jan-May

DENGUE CASES in the Western Visayas Region rose to 8,613 in Jan-May this year from 2,886 in the same period 2018, with deaths more than double at 48 from 23, based on the data from the Department of Health-Center for Health Development (DoH-CHD)-Region 6.

DRRMO recommends 15 areas as no-build zones in Davao City; existing structures to be...

THE DAVAO City Disaster Risk Reduction and Management Office (CDRRMO) has identified 15 areas that are highly prone to floods and landslides, and will recommend for these to be declared as “no-build and habitation zones.”

Nation at a Glance — (06/13/19)

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

MBAs can make a positive difference

For the first time, Harvard Business School and the Booth School of Business at the University of Chicago have not increased tuition for their MBA programs. Applications to the US business schools have been dropping due to online alternatives and more specialized courses. Worse, many international applicants have been scared off by anti-foreigner sentiment in many parts of the US. Some business schools, such as the University of Illinois Gies College of Business, have gone further and shut down their on-campus MBA programs altogether.

Right tool for the job

If you have car engine troubles, do you bring it to a vulcanizing shop? If you have leaky plumbing, do you call a mason to “cement” the job? Or, if you need to tighten a screw, do you get a hammer? I guess the answers to these questions are pretty obvious, right? Common sense dictates that you use the right tool for the work required.

Break up big tech or not, society should know the technical implications for the...

AGAINST the backdrop of growing unease worldwide about the power of big technology companies, whether governments should break them up has become a common talking point.

Cutting fisheries subsidies crucial for oceans and for development

RECENT STUDIES on the health of our oceans offer irrefutable evidence that something very disturbing is taking place and that the threat to marine life has never been graver.

Ten things people in finance should never say

AT A RECENT EVENT in New York City, I chatted with a money manager whose presentation had impressed me. At least, I was impressed until he uttered one of those hackneyed phrases that just make me flinch. This is an occupational hazard in the world of economic and market commentary. Any of us can lapse into lazy shorthand. But it is something best avoided: Use of trite or clichéd formulations neither reflects well on us, nor does it show respect for the reader or listener.

A time to remember and reflect

It was on June 12, 1898, when the “Act of the Proclamation of Independence of the Filipino People” was read at General Emilio Aguinaldo’s...

Philippine trade year-on-year performance (April 2019)

THE COUNTRY’s trade-in-goods deficit narrowed in April as merchandise exports grew while imports declined, but did not prevent the year-to-date trade gap from increasing,...

PHL trade deficit narrows in April

THE COUNTRY’s trade-in-goods deficit narrowed in April as merchandise exports grew while imports declined, but did not prevent the year-to-date trade gap from increasing, according to data released by the Philippine Statistics Authority (PSA) on Tuesday.

BoI investment registration performance

FRESH PROJECTS pledged at the Board of Investments (BoI) in the first five months of the year climbed 40.1% from a year ago, with...

Investment pledges climb 40% in January-May

FRESH PROJECTS pledged at the Board of Investments (BoI) in the first five months of the year climbed 40.1% from a year ago, with power projects spurring the growth.

Sangley to handle general aviation by December

PRESIDENT Rodrigo R. Duterte on Monday evening ordered the Department of Transportation (DoTr) to immediately utilize the Danilo Atienza Air Base in Sangley Point, Cavite to help decongest the country’s main gateway, the Ninoy Aquino International Airport (NAIA).

MRT-7 completion to be delayed to 2022

SAN MIGUEL CORP. (SMC) expects the completion of the Metro Rail Transit Line 7 (MRT-7) to be pushed back to 2022, with partial operations seen by 2021 as the company encounters right of way issues.

PLDT says on track to meet core income target

PLDT, Inc. said it is on track to achieve its telco core income guidance of P26 billion this year, even hinting at the possibility of exceeding this target, as the company sees continuous growth in its wireless business.

A celebration of Carole King’s music

WHEN Kayla Rivera was 11-years-old, she recalls singing to “(You Make Me Feel Like) A Natural Woman” — her favorite Carole King song.

Ayala invests in US medtech firm

THE health care arm of Ayala Corp. (AC) has invested in United States-based medical technology firm Fibronostics, as it seeks to deliver more screening and monitoring solutions in its clinics.

New museum focuses on the history of Binondo

MANY OF the first pharmacies, theaters, and department stores in the City of Manila were found in the district of Binondo. Founded in 1594, the city had a pivotal role in international trade and the place of the world’s first Chinatown in this role is the focus of a new museum.

Coming soon: ABS-CBN movies to air in China

ABS-CBN Corp. said its locally produced movies will soon hit TV screens in China, as it inked a deal with a Chinese media company to allow the airing of its content in the country.

Ai-Da, the humanoid robot artist, gears up for first solo exhibition

OXFORD, England — Wearing a white blouse and her dark hair hanging loose, Ai-Da looks like any artist at work as she studies her subject and puts pencil to paper. But the beeping from her bionic arm gives her away — Ai-Da is a robot.