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Daily Archives: June 20, 2019 | 10:48 pm

congress joint session

DoF to continue pushing tax, retail reforms in next Congress

THE Department of Finance (DoF) said the government’s legislative priorities in the next Congress include the remaining packages of the tax system overhaul and measures reforming the foreign investment regime and retail industry, as well as amendments to the Public Service Act.
Department of Budget and Management (DBM) facade

Gov’t disbursements decline in first 5 months after budget delay

FUNDING releases backed by Notices of Cash Allocation (NCAs) fell 13.48% to P1.136 trillion in the first five months, the Department of Budget and Management (DBM) said.

DoTr to increase penalties for airport slot misuse

THE Department of Transportation (DoTr) said it will increase the penalties on airlines that “misuse” their airport takeoff and landing slots in a bid to decongest Ninoy Aquino International Airport, (NAIA) the country’s main gateway.

PHL’s resiliency projects not fairly distributed — WB

THE World Bank said the government needs to adopt a new method for estimating disaster damage that goes beyond asset losses, because the current approach tends to highlight the value of projects in or near the National Capital Region (NCR).

JICA still has 900B yen to fund rail expansion in Philippines

THE Japan International Cooperation Agency (JICA) said 900 billion yen worth of funding remains unreleased from allocations to support the development of the Philippine railway system.

Sugar industry pushing for faster release of dev’t funding

THE Confederation of Sugar Producers (CONFED) said it will seek revisions to the implementing rules and regulations of the Sugar Industry Development Act (SIDA) to make project approvals faster.

China could build 30 ‘Belt and Road’ nuclear reactors by 2030

SHANGHAI -- China could build as many as 30 overseas nuclear reactors through its involvement in the “Belt and Road” initiative over the next decade, a senior industry official told a meeting of China’s political advisory body this week.

China plastics packaging firm signs industrial zone lease in Panabo City

A CHINESE plastic packaging company has signed a location agreement with an industrial zone operator in Panabo City, Davao del Norte, the industrial zone’s operator said.

President signs four laws extending various broadcast franchises

PRESIDENT Rodrigo R. Duterte signed laws renewing the franchises of four broadcasting companies, including El Shaddai’s Delta Broadcasting System, Inc. (DBS) and Ultrasonic Broadcasting System, Inc. (UBSI), which is owned by the SYSU Group of Companies, a food importer and distributor, officials said.

Bank investments in tech not yet seen driving significant revenue growth

NEW YORK -- The $1 trillion invested by traditional banks globally over the past three years to improve their technology has not yet delivered the revenue growth that had been expected, according to an Accenture report released on Thursday.

Of blood and pyramids

Another round of investment scams and household robbery syndicates plagues the land. Over the past weeks, friends from the south and central, colleagues in the capital tell of tales of unfulfilled promises and disappearing funds. Some with savings and retirement money, a few with excess and those who borrowed, but all united by the need for channels to make returns exponentially and the want for material riches beyond the usual lotto dreams. Is it the entrepreneurial spirit within us, the gambling culture that permeates our society, or the laziness or boredom of everyday work?

In his own words

Had it not been for that “incident” near the Recto Bank in the West Philippine Sea, the 121st anniversary of Philippine independence would have come and gone like any other holiday whose significance escapes many Filipinos.

Teaching love

The problem here is not the failure to communicate but the refusal to communicate. There are many good reasons to uphold that there is a male-female distinction, that gender is synced with sex, and that marriage is between one man and one woman. Yet those reasons are not being heard.

Thoughts on truth and portraits

Sir Winston Churchill, British Prime Minister and writer, painted landscapes rather than portraits. “Because no tree has ever complained about its likeness,” he remarked.

DoJ chief pushes joint inquiry on boat sinking

JUSTICE Secretary Menardo I. Guevarra said he suggested a joint inquiry with China be conducted to probe the June 9 collision between a Chinese vessel and a Filipino fishing boat off Recto Bank in the West Philippine Sea.

Embassy in Libya to repatriate more OFWs

THE PHILIPPINE Embassy in Libya will send home another batch of Filipino migrants affected by the fighting in Tripoli, bringing the total repatriated overseas to 84.

CoA flags DoJ’s travel bills

THE Commission on Audit (CoA) said the Department of Justice (DoJ) claimed a “huge amount of traveling expenses” abroad in 2018 amounting to P7.8 million.
Rodrigo Duterte

Duterte approves reduced performance-based incentives for GOCC execs

PRESIDENT Rodrigo R. Duterte has moved to reduce the performance-based incentives (PBI) of appointive directors of Government Owned or Controlled Corporations (GOCCs).

Nationwide round-up

PRESIDENT Rodrigo R. Duterte on Wednesday said he has promoted more army generals. In his speech during his visit to an infantry division of the Philippine Army in Samar on Wednesday night, Mr. Duterte said: “Marami akong pinirmahan...‘yong promotion.

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China proposes joint probe with PHL on boat sinking

THE Chinese government on Thursday proposed a joint inquiry into the June 9 Recto Bank incident.

Contingency plan discussed for water shortage

THE METRO Manila Disaster Risk Reduction and Management Council (MMDRRMC), concerned government agencies and water concessionaires have met to discuss contingency measures on how to prepare for a worsening water shortage.

Grab hatchback drivers to file complaint against LTFRB

A GROUP of deactivated Grab hatchback drivers and a labor group will file a class suit on Friday against the Land Transportation Franchising and Regulatory Board (LTFRB) for its policy on hatchback vehicles.

Forum held on grassroots development

THIRD SECRETARY Junichi Hirano attended the “20th Philippine Council for NGO Certification Annual Assembly” in Quezon City on June 4 to promote “The Grant Assistance for Grassroots Human Security Projects (GGP),” a program to assist NGOs and local public authorities in responding to various development needs. The event was attended by around 500 accredited NGO members of the PCNC.

Makati rewards honor graduates of public schools

THE CITY government of Makati has granted cash incentives ranging from P6,000 to P10,000 to some 2,014 honor graduates from the city’s public elementary and senior high schools for school year 2018-2019.
Bureau of Immigration (BI)

Chinese construction workers arrested for ‘causing trouble’

THE BUREAU of Immigration (BI) arrested 35 Chinese working as construction workers in a subdivision in Parañaque City, following a complaint that they were “causing trouble” at the construction site.

EU Ambassadors exploring opportunities in Mindanao

THE PRESENCE of the EU Ambassadors in the opening of the Davao Investment Conference 2019 (Davao ICON 2019) is an indication of their interest in exploring opportunities in Mindanao, according to Dr. Maria Lourdes G. Monteverde, Davao ICON 2019 chairperson.

PHL shares rise further after dovish Fed statement

SHARES CLIMBED on Thursday, as investors digested dovish comments from the United States Federal Reserve.

Peso climbs to two-month high as Federal Reserve signals cuts

THE PESO strengthened further against the dollar on Thursday to hit a fresh two-month high, as risk appetite improved following the dovish statement of the US Federal Reserve.

Halal hotel services eyes Middle East market

MARCO POLO Davao (MPD) is now gearing to improve its Halal services to cater to the Middle East market following the recent launch of Doha-Davao direct route by Qatar Airways.

Nation at a Glance — (06/21/19)

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

League-leader TNT out to keep tourney lead

STEAMROLLING TNT KaTropa shoot for their fifth straight win in the Philippine Basketball Association Commissioner’s Cup when they collide with the Columbian Dyip in the league curtain-raiser today at the Cuneta Astrodome in Pasay City.

SBP sees competitive youth team in Under-19 World Cup

BELIEVING that it has assembled a competitive team for the FIBA Under-19 World Cup, the Samahang Basketbol ng Pilipinas (SBP) said it expects Gilas Youth to make waves in the tournament which begins next week in Greece.

Aston Palicte laments title fight stoppage but accepts decision

FILIPINO fighter Aston “Mighty” Palicte fell short in his bid for the World Boxing Organization super flyweight title after absorbing a stoppage loss in the 10th round of his championship fight with Japanese Kazuto Ioka on Wednesday night in Chiba, Japan.

PSC instructed to help ensure SEA Games pushes through

AMID the leadership issue and controversies surrounding the national Olympic committee, Philippine Sports Commission (PSC) chairman Butch Ramirez said he and his office were given instructions by Malacañang to help ensure that country’s hosting of the 30th Southeast Asian Games pushes through later this year.

WC: Scotland knockout after VAR drama as team Argentina snatches 3-3 draw

PARIS -- Scotland were knocked out of the women’s World Cup on Wednesday after Argentina came back from 3-0 down to snatches a 3-3 draw with a last gasp re-taken penalty following a dramatic intervention from the video assistant referee (VAR).

Sabathia gets 250th win as Yanks rout Rays

NEW YORK -- CC Sabathia pitched six innings of one-run ball for his 250th career victory, Gary Sanchez hit a three-run homer in a six-run first off Blake Snell, and Gleyber Torres hit his first career grand slam as the New York Yankees rolled to a 12-1 victory over the Tampa Bay Rays Wednesday afternoon at Yankee Stadium.

Global Cebu bags first win in PFL; leader Kaya scores another victory

AFTER OPENING its Philippines Football League (PFL) campaign with three straight losses, Global Cebu FC finally barged into the win column on Wednesday even as league-leading Kaya FC-Iloilo notched another victory.

RUNRIO and nowheretogobutUP launch The Great UP Run to raise funds for all UP...

UNIVERSITY of the Philippines varsity teams got a big boost June 18 from a new fund-raising event called The Great UP Run spearheaded by RUNRIO, Inc. and nowheretogobutUP Foundation, Inc. (NTGBUP).

Picking his spots

Phil Mickelson was nothing if not engaging in his presser on the eve of the Travelers Championship. He’s typically ebullient, to be sure, but his bright spirits yesterday likewise stemmed from fond memories of the tournament, having claimed it in successive years at the turn of the century. And were it not invariably scheduled right after the United States Open, he may well have added to his tally of victories at TPC River Highlands. Instead, he wound up skipping it from 2003 onwards, and only a change in his frequency of appearances on tour paved the way for his return.

Actor, director Eddie Garcia, 90

LEGENDARY actor/director Eddie Garcia died as a result of an accident while doing what he loved most — acting — after suffering a neck fracture on the set of his new television series. He was 90 years old.

Meralco receives four-arrow recognition at ASEAN Corporate Governance Scorecard (ACGS) Recognition Ceremony 2019

In recognition of its commitment towards good corporate governance and responsible management practices, the Manila Electric Company (Meralco) was named Top Performing Philippine publicly...

PHL growth forecast cut after weak Q1

THE ASEAN+3 Macroeconomic Research Office (AMRO) has slashed its Philippine growth forecast for this year following the “weak” economic expansion in the first quarter, which was dragged by the delay in the passage of the 2019 national budget.

May marks 7th straight month of BoP surplus

THE country’s balance of payments (BoP) registered a surplus for the seventh consecutive month due to inflows from the central bank’s foreign exchange operations and income from its investments abroad that were partially offset by state foreign debt payments, the Bangko Sentral ng Pilipinas (BSP) reported on Wednesday.

REIT rules to be released by July

THE Securities and Exchange Commission (SEC) said it can release guidelines on the issuance of real estate investment trusts (REITs) as early as July, without changing the minimum public ownership (MPO) requirement.

Trade tensions kick Asian business confidence to 10-year low — survey

MUMBAI -- Confidence among Asian companies in the June quarter fell to its lowest since the 2008-09 financial crisis, as a US-China trade war disrupts global supply chains and shows little sign of easing soon, a Thomson Reuters/INSEAD survey found.