Home 2019 June 21

Daily Archives: June 21, 2019 | 7:26 pm


‘Hot money’ flows out for 3rd straight month in May

MORE foreign capital went out of the Philippines in May for the third straight month, amid the escalating trade tensions between the United States and China, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.
Makati skyline yearender

Outlook for PHL banks still stable

THE local banking industry will continue to benefit from robust economic growth of the Philippines, debt watchers Moody’s Investors Service and S&P Global Ratings said.

Globe launches first 5G service in Southeast Asia

MANILA — Globe Telecom Inc on Thursday launched Southeast Asia’s first 5G broadband service, with embattled Huawei Technologies Co Ltd. providing the equipment, a win for the Chinese firm despite cybersecurity worries from Western nations.

Former DFA chief arrives home after detention in Hong Kong

FORMER Foreign Affairs secretary Albert F. Del Rosario was held at the Hong Kong International Airport on Friday before his return to Manila also that day.

Locsin: PHL, China to conduct separate inquiries on boat sinking

By Charmaine A. Tadalan, Reporter THE Philippines and China will conduct separate inquiries on the June 9 sinking of a Filipino boat near Recto Bank...

DICT presents alternative automated election system

THE Department of Information and Communications Technology (DICT) on Friday presented its proposed alternative automated election system, aimed at improving transparency.

Duterte to tackle maritime dispute in ASEAN

PRESIDENT Rodrigo R. Duterte on Friday said he will tackle “lengthily” the disputes in the South China Sea at the 34th Association of Southeast Asian Nations (ASEAN) Summit in Bangkok.

BuCor flagged for excess salaries, other violations

THE Commission on Audit (COA) has flagged the Bureau of Corrections (BuCor) for several violations including excess salaries and many unimplemented projects.

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Indonesian militant in Maute siege guilty of possession of firearm

AN INDONESIAN militant involved in the Maute group’s 2017 siege of Marawi City has been found guilty of illegal possession of firearm.
okra farmer

Agriculture trade deficit widens in Q1

THE trade deficit in agriculture commodities widened in the first quarter, the Philippine Statistics Authority (PSA) said.
Philippines' President Rodrigo Duterte gestures during the opening session of the ASEAN and EU summit at the Philippine International Convention Center in Pasay, metro Manila

Duterte to woo Thai businessmen at ASEAN Summit

PRESIDENT Rodrigo R. Duterte is set to meet with Thai business leaders on the sidelines of the 34th Association of Southeast Asian Nations (ASEAN) Summit in Bangkok and invite them to do business in the Philippines, Trade Secretary Ramon M. Lopez said on Friday.
Ramon M. Lopez DTI

US-China tensions to push ASEAN to fast-track RCEP

THE TRADE WAR between the United States and China will compel member-states of the Association of Southeast Asian Nations (ASEAN) to fast-track negotiations on the Regional Comprehensive Economic Partnership (RCEP) in order to “isolate” the region from the impact of the tensions, Trade Secretary Ramon M. Lopez said on Friday.
wheat cereal

PHL is top destination for wheat, soybean

THE PHILIPPINES is one of the top destinations for exported wheat, soybean cake and meal for market year (MY) 2019/2020, the United States Department of Agriculture (USDA) said in a report.

Bullish Megaworld sets P300-B five-year capex

MEGAWORLD Corp. is bullish on the growth of the Philippine economy as it commits to spend P300 billion over the next five years to expand its residential, office, retail, and hotel projects.

Del Monte swings to profit

DEL MONTE Pacific Limited (DMPL) swung to profitability in its fiscal year 2019, even as sales fell due to its divestment from its Sager Creek business in the US.

FLI completes payment of P7-B in bonds

FILINVEST Land, Inc. (FLI) has paid off its P7-billion bonds earlier this month, it told the stock exchange on Friday.

DoubleDragon Plaza secures LEED Gold certification

DOUBLEDRAGON Properties Corp. on Friday said it received the Leadership in Energy and Environment Design (LEED) Gold certification for its DoubleDragon Plaza project in Pasay City.

PNB to raise $750M via fixed-rate notes

PHILIPPINE National Bank is set to raise $750 million via 5.25-year fixed-rate senior notes to support lending growth.

Peso strengthens to one-year peak

THE PESO strengthened further against the dollar on Friday to hit a one-year high after the central bank kept interest rates unchanged.

Stocks up as BSP retains key rates

STOCKS continued to climb on Friday as investors repositioned their portfolios following the Financial Times Stock Exchange index (FTSE) rebalancing, alongside the Bangko Sentral ng Pilipinas (BSP) decision.

Good Design Award Philippines highlights ‘malasakit’ as central to design excellence

In its inaugural run of the Good Design Award Philippines, the Design Center of the Philippines is recognizing outstanding local objects, systems, places, and...

Staging the Philippines’ masterpiece

https://www.youtube.com/watch?v=QEIkBpvdqsM&feature=youtu.be By Joseph L. Garcia, Reporter "EVERY country has its grand canvas... the so-called masterpiece that hangs in a hallowed hall and sums up the national...

A consumption-driven economy

Consumer spending has traditionally been the driving force behind the growth of the Philippine economy in recent years, with households contributing majority of aggregate...

Getting to know the global consumers

More interesting insights are being discovered about the global consumers, their lifestyles, and their preferences. Recently, global strategic market intelligence company Euromonitor International came up...

BSP leaves policy rates untouched

THE Bangko Sentral ng Pilipinas (BSP) on Thursday kept rates unchanged on expectations of steady inflation and economic growth, and as it monitors the impact of recent monetary adjustments.

Gross revenue across key industries up 8.1% in Q1

REVENUE across all industries grew in the first quarter of 2019 as stronger sales were reported across key industries, the Philippine Statistics Authority (PSA) reported yesterday.

Quarterly economic indices of key industries

REVENUE across all industries grew in the first quarter of 2019 as stronger sales were reported across key industries, the Philippine Statistics Authority (PSA)...

SEC tweaks rule on REIT property manager

THE Securities and Exchange Commission (SEC) has proposed to amend rules covering the property manager of a real estate investment trust (REIT), in time for the issuance of such a product within the year.

Fed sees case building for interest rate cuts this year

WASHINGTON -- The US Federal Reserve on Wednesday signalled interest rate cuts beginning as early as July, saying it is ready to battle growing global and domestic economic risks as it took stock of rising trade tensions and growing concerns about weak inflation.

AGI eyes tie-ups with tech firms

ALLIANCE Global Group, Inc. (AGI) wants to partner with tech companies as it embarks on a five-year innovation program that will digitally transform its businesses.

Buy Bust is big winner at Gawad Urian

ERIK MATTI’S BUY BUST, a “zombie-like action” film about the current administration’s war on drugs, won Best Picture and three technical awards (Cinematography, Production Design, and Music) at the 42nd Gawad Urian awards night on Tuesday at UP’s Cine Adarna.

E-cigarette maker Juul enters Philippine market

SAN FRANCISCO-BASED e-cigarette company, Juul Labs Inc. partnered with the subsidiary of JG Summit Holdings, Inc. to enter the Philippine market, as part of its plans to expand operations in the Asia-Pacific region.

Non-technical K-to-12 students still want college degrees for hireability

THE Philippine Institute for Development Studies (PIDS), a government think tank, said the K-to-12 Program boosts students’ skills and knowledge in their chosen fields, but students outside the technical track expressed a need for further education to make them more hireable.

ALV Films releases 2nd film in ambitious 12-film line-up

ALV Films’ second film for the year, Because I Love You, is a Cinderella story about a feisty, street-smart firefighter who falls in love with a wealthy heir. It opens in cinemas nationwide on June 26.

The Net Group chairman quits company’s units

THE chairman and co-founder of property developer The Net Group (TNG), which is now controlled by the SM group, announced his “immediate and irrevocable” resignation from posts he held at the company’s land and building units.

Palace approves TESDA technical skills dev’t plan

PRESIDENT Rodrigo R. Duterte has signed an executive order “approving and adopting” the National Technical Education and Skills Development Plan (NTESDP) 2018-2019 prepared by the Technical Education and Skills Development Authority (TESDA).

Ateneo set to be PHL’s 1st ‘Smart 5G campus’

PLDT, Inc.’s wireless arm Smart Communications, Inc. on Thursday said it has inked a memorandum of understanding (MoU) with the Ateneo de Manila University for the development of next-generation applications and services that will run on Smart’s 5G wireless network.

AsiaPop Comicon cancelled

THE 2019 AsiaPop Comicon Manila (APCC) which was scheduled for Aug. 2 to 4 at the SMX Convention Center in Pasay City has been cancelled due to scheduling conflicts, a statement from the company said.

Online hiring rises 11% in Q1 led by HR — Monster

JOB RECRUITMENT site Monster.com said online hiring activity in the Philippines increased 11% year-on-year, with each of the first three months posting successive month-on-month gains.

Vivant goes into water treatment with Israeli firm

VIVANT CORP. is diversifying into the water treatment business through a joint venture formed by its subsidiary and an Israeli company.

Markets see long fight ahead as ECB battles low inflation

LONDON — Mario Draghi’s dramatic Tuesday hints of further monetary easing by the European Central Bank have stabilized collapsing euro zone inflation expectations, but the departing ECB chief will struggle to calm market fears of Japan-style economic stagnation.

Spotify launches Pinoy rock video series

SPOTIFY has launched a three-part Pinoy Rock video series that turns the spotlight on Filipino rock musicians, old and new.

Manila Water inks deal with weather data provider

MANILA Water Co., Inc. said it tapped Weather Solutions, Inc. as its exclusive weather data provider, a move seen to boost the efficiency of its dam operations and management.

DAP, Microsoft sign MoU on Big Data, AI training for policy makers

THE Development Academy of the Philippines (DAP) said it signed an agreement with Microsoft Philippines Thursday for a pilot program on executive training for policy makers focusing on Big Data and Artificial Intelligence (AI).

Enjoying a festival of friendship

AS THE Philippines and Korea commemorated the 70th anniversary of diplomatic relations, yet another festival was held recently to celebrate the close ties between the two countries.