Home 2019 June 14

Daily Archives: June 14, 2019 | 8:19 pm

BSP

BoP turnaround continues with May surplus

THE Bangko Sentral ng Pilipinas (BSP) said it estimates that the balance of payments in May continued to reflect a surplus, of about $3.7 billion, continuing the turnaround from a deficit of $3.5 billion as recently as November.

Regional inequality narrows in 2018 as poorer areas grow faster

REGIONAL inequality in the Philippines eased in 2018 compared to 2016 and 2017, the Department of Finance (DoF) said in an economic bulletin on Friday, citing lower measures of variability in regional domestic product.
Ramon M. Lopez DTI

DTI says corruption in gov’t now more reportable under new law

THE Department of Trade and Industry (DTI) encouraged Cebu-based businesses to file complaints and report on corrupt practices they encounter in government transactions.
telcom tower BMI

Globe makes case for energy-saving benefits of more cell towers

GLOBE TELECOM, Inc. is calling for the easing of restrictions on building passive telecommunications infrastructure such as cell sites, claiming that easier rules would aid network operators in operating more efficiently by reducing power consumption.
pork butcher shop

DA request for emergency procurement of X-Ray machines approved

THE Department of Agriculture (DA) said it will tap a Quick Reaction Fund (QRF) to buy 20 X-ray machines to be deployed in various ports to guard against the entry of pork from African Swine Fever (ASF)-affected countries.

Customs seeking to simplify broker accreditation process

THE Bureau of Customs (BoC) said its Account Management Office (AMO) is hoping to simplify the accreditation process for brokers and other entites that routinely deal with the bureau by decentralizing approvals.

China ‘thoroughly, seriously’ investigating boat collision — ambassador

CHINESE Ambassador Zhao Jianhua said China is “thoroughly and seriously” investigating the collision between a Chinese vessel and a Filipino boat on June 9.

Bong Go biggest spender in senatorial race

WITH 11 of the 12 senators who won in the 2019 midterm elections having submitted their reports on campaign expenses and contributions before the June 13 deadline, the top spender turned out to be former presidential special assistant Christopher Lawrence “Bong” T. Go who spent over P161 million on his campaign.

DoJ indicts WellMed officer, whistleblowers for estafa

THE Department of Justice (DoJ) indicted an officer of WellMed Dialysis and Laboratory Center Corp. and the two whistleblowers for several counts of estafa through falsification of data in connection with the “ghost” dialysis claims which were paid by the Philippine Health Insurance Corp. (PhilHealth).

Immigration told to keep a lookout for KAPA officers

THE Department of Justice has issued an Immigration Lookout Bulletin Order (ILBO) against 16 officers and incorporators of KAPA-Community Ministry International Inc., and three officers of Alabel-Maasim Credit Cooperative (ALAMCCo).
drug medicine pills

FDA orders Shopee, Lazada to stop selling medicines

THE Food and Drug Administration (FDA) has ordered Shopee Philippines and Lazada Philippines to stop selling medicines online, after it had warned the public regarding the purchase of health products over the internet earlier this week.

Sandiganbayan nixes Jinggoy, Napoles’s bid for dismissal

THE Sandiganbayan on Friday dismissed Janet Lim-Napoles and former Senator Jose “Jinggoy” P. Ejercito Estrada’s pleas to dismiss their plunder case, stating that the evidence presented by the prosecution could lead to their conviction.

PDEA denies some travel expenses lacked documentation

THE Philippine Drug Enforcement Agency (PDEA) denied reports that some P74 million in domestic travel expenses were insufficiently documented after the Commission on Audit (CoA) flagged the agency.
Francisco T. Duque

DoH secretary says he did not misuse OWWA funds

DEPARTMENT of Health (DoH) Secretary Francisco H. Duque III denied claims made by Senator Panfilo M. Lacson that he was involved in the misuse of government funds during his term as PhilHealth president, saying that these were resolved in his favor years ago.


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Human Rights Commission concerned over non-renewal of ABS-CBN franchise

THE Commission on Human Rights (CHR) expressed concern over lawmakers’ freezing of ABS-CBN franchise bill, saying that it “could signal a bleaker state of press freedom in the country.”
Documenting Pinatubo’s wrath

Palace announced non-working holiday to commemorate Pinatubo eruption

MALACANANG on Friday announced a special non-working day on June 15 in Angeles City in Pampanga, in “remembrance of the ruinous volcanic eruption of Mount Pinatubo” 28 years ago.
antenna tower

Mislatel consortium finishes on step towards operation

NEW telecommunications player Mislatel consortium — made up of Chelsea Logistics and Infrastructure Holdings Corp., China Telecommunications Corp., and Udenna Corp. — said it completed the signing of the share-purchase agreement with franchise holder Mindanao Islamic Telephone Company, Inc. (Mislatel), as it moves forward in securing government requirements to receive its permit to operate and frequencies.

Resorts World to reopen casino’s 2nd floor two years after deadly fire

TRAVELLERS International Hotel Group, Inc. (TIHGI), the owner and operator of Resorts World Manila (RWM), expects double-digit growth in gross gaming revenues (GGR) as reopens the second floor of its casino area in July, two years after a gunman shot up the casino and started a fire that killed 36 people.
gambling

Belmonte says IRR for QC gambling ordinance to be made in her term

QUEZON City Mayor-elect and outgoing Vice-Mayor Maria Josefina G. Belmonte said the city ordinance which will regulate gaming firms and require city residents to pay entrance fees to casinos may be implemented in her term as mayor.

Central bank calls on financial institutions to sign up on cybersecurity sharing platform

TO HELP strengthen the banking industry’s resilience to cyber attacks, the Bangko Sentral ng Pilipinas (BSP) has ordered BSP-supervised financial institutions (BSFIs) to participate in a cybersecurity sharing platform hosted by the Bankers Association of the Philippines (BAP).
1000 peso bills

Peso declines on US-Iran tensions

THE PESO declined against the dollar on Friday, dragged by geopolitical tensions between the United States and Iran.

PSEi falls amid geopolitical tensions

LOCAL equities finished Friday in negative territory as investors took caution over the geopolitical tensions at home and abroad, particularly the continued worries over the US-China trade tensions and the attack on two oil tankers in the Middle East that was seen as a cause for the increase in oil prices.

Arthaland leading the way in sustainable office developments

ArthaLand is making its mark as the Philippines’ foremost developer of green office buildings. It all started last year with the opening of the...

Dutchman wins Stage 1 of Le Tour de Filipinas; Carino, Oranza bomb out

TAGAYTAY CITY — Flying Dutch Jeroen Meijers of Taiyuan Miogee Team bested all comers including top locals El Joshua Carino and Ronald Oranza in claiming Stage One victory on Friday in the 10th Le Tour de Filipinas that started and finished at the Praying Hands Monument here.

PHL banks maintain bullish outlook

BANK EXECUTIVES expect the industry to remain stable over the next two years due to strong economic growth prospects, with most lenders saying they will use financial technology to boost their operations.

DoTr says airlines agree to transfer turboprop flights to Sangley Airport

THE Department of Transportation (DoTr) said local airlines have agreed to operate flights that utilize turboprop planes at the Danilo Atienza (Sangley) Air Base, as the government prepares to open the airport for more flights before the year ends.
Marawi

Gov’t to issue Marawi bonds for large-scale infrastructure projects

THE GOVERNMENT is looking to issue its planned Marawi bonds to help fund large-scale infrastructure projects covered by the second phase of the rehabilitation plan for the city, the Finance department said in a statement on Thursday.

Oil demand growth falls as economy weakens

SINGAPORE/HOUSTON -- World oil markets have undergone a U-turn, switching from supply-side risks like OPEC’s production cuts or US sanctions against producers Iran and Venezuela, analysts said, to concerns of slowing consumption amid fears of a global recession.

The courage needed for Pride

FRANKLIN Delano Roosevelt is believed to have said: “Courage is not the absence of fear, but rather the assessment that something else is more important than fear.”

Taiwanese company expands Laguna manufacturing facility

TAIPEI — Taiwanese power supply firm AcBel Polytech, Inc. is set to expand not just its manufacturing facility in Taiwan, but also its factory in Laguna, Philippines, which is expected to be completed within the first half of 2020.

TBGI ties up with Chinese firm for roll out of common towers

LISTED Transpacific Broadband Group International, Inc. (TBGI) said it is working with a China state-owned firm for the roll out of common towers for mobile network operators in the country.

Musicians lament reported loss of recordings in old Universal fire

LOS ANGELES — Several big-name musicians voiced dismay on Wednesday that some of their recordings may have been among thousands of original masters that The New York Times Magazine reported were lost in the Universal Studios Hollywood backlot fire of 2008.

UHC law means more nurses need to stay in PHL

THE Department of Labor and Employment (DoLE) said it is exploring measures to raise the salaries of nurses to address local shortages ahead of the implementation of the Universal Health care (UHC) Law.

Ai-Ai’s latest comedy tackles fitting in with Millennials

OLDER PEOPLE trying fit in with millennials and eventually finding love with each other is the crux of the story of Rechie del Carmen’s comedy Feelennial which opens on June 19 in cinemas nationwide.

Angkas to start pilot run within the month

ANGKAS (DBDOYC, Inc.) is targeting to start the six-month pilot run of motorcycle taxis before the end of June, as the Department of Transportation (DoTr) tapped the ride-hailing firm to work with the government in studying the public transport alternative.

Bids for BSP’s term deposits decline

BIDS FOR term deposits dropped on Thursday as the central bank placed a lower volume on offer two weeks ahead of the second round of cuts to banks’ reserve requirement ratio (RRR).

Davao dialysis centers, hospitals starting to feel impact of nurse shortage

DAVAO CITY -- Officials of the Southern Philippines Medical Center (SPMC), the biggest government hospital in Mindanao, said hospitals and hemodialysis (HD) centers in Davao City are facing a “brain drain” of nurses amid the rising number of patients with kidney-related diseases.

Dorm operator ramps up expansion

SY-LED Philippine Urban Living Solutions, Inc. (PULS) plans to have over 4,800 beds under its portfolio by 2020, as it looks to provide housing solutions to young professionals in the metro.

Comic book hero

LAMBERTO AVELLANA’s Lapu-Lapu (1955) is about as straightforward a biopic as you can get about the famed Mactan warrior, other than the fact that this was adapted from Francisco Coching’s highly romanticized (to put it mildly) komiks (comics) serial.

Far from devalued, euro surges as trade war hits yuan

LONDON — If evidence is needed of how far ripples from the Sino-US trade war are reaching, have a look at Europe where the yuan’s slump is driving up the euro’s value against trade partners’ currencies, handicapping the export-reliant bloc’s economy.

Amazon Web Services to offer second year of cloud skills training for schools

AMAZON Web Services (AWS), a unit of Amazon.com, said it has started to offer a second year of cloud technology training sessions for higher educational institutions, expanding beyond Metro Manila to include participants in other parts of Luzon as well as Cebu and Davao.

Harbor Star inks deal with Malaysian company

A SUBSIDIARY of listed firm Harbor Star Shipping Services, Inc. said it signed a deal with a Malaysian wholesaler to provide it with harbor tug services.

1960s singer says he has Alzheimer’s

THE 1960s-era singer and comedian Steve Lawrence, seen here with his wife and performing partner Edyie Gorme in 2000, said on Tuesday he has been diagnosed with Alzheimer’s disease.
bitcoin

Regulated Bitcoin futures markets boom as investors seek a safer ride

LONDON — When Bitcoin was born it was a symbol of counterculture, a rebel currency with near-anonymity and a lack of regulation. A decade later, there are growing signs it’s entering the establishment its creators sought to subvert.

Reckitt picks PepsiCo executive as CEO, going outside for first time

CONSUMER GOODS group Reckitt Benckiser has picked PepsiCo executive Laxman Narasimhan as its next chief executive, becoming the latest industry heavyweight to turn to a company outsider to tackle faltering growth and new media-savvy rivals.