Home 2019 June 26

Daily Archives: June 26, 2019 | 10:19 pm

Philippines loses six places in economic freedom rankings

THE Philippines’ economic freedom ranking slipped six places to 49th out of 162 countries, Canadian think-tank Fraser Institute said in its 2018 Economic Freedom of the World report.
Angat Dam

Angat expected to breach all-time low by Saturday, water regulator says

WITHOUT significant rainfall flowing to its watershed, Angat Dam is expected to breach the lowest recorded level of 157.57 meters by Saturday according to the National Water Resources Board (NWRB).
Laguna de Bay LLDA

Fisheries sector hoping to match or top Q1 growth rate in 2019

THE fisheries regulator said he hopes to match or top the sector’s first quarter growth rate of 0.97% over the course of 2019.

Majority of Filipinos plan to pay for medical expenses with savings, debt, study finds

A MAJORITY of Filipinos said they intend to finance their medical expenses from savings or debt, according to the findings of a health and wellness study by PhilCare, a health maintenance organization (HMO).

GSIS still plans to dispose of harbor site amid ICTSI dispute

THE Government Service Insurance System (GSIS) is going ahead with the sale of a portion of Manila North Harbor, which is operated by the International Container Terminal Services, Inc. (ICTSI), despite earlier reports that the port operator claims the state-run pension fund has no authority to do so.

BFP underspent on National 911 system, failed to complete fire stations — CoA

THE Commission on Audit (CoA) said the Bureau of Fire Protection (BFP) failed to use P53.3 million worth of funds from the Department of Interior and Local Government (DILG) and Department of Energy (DoE).
davao city hall

Hong Kong, Thai, Malaysian trade delegations expected in Davao

DAVAO CITY -- Trade delegations are expected to visit Davao City in the next few months with investor interest buoyed by last week’s Davao Investment Conference (ICon) 2019, according to officials of the Davao City Chamber of Commerce and Industry Inc. (DCCCII).
E-vehicle charging station

DTI to release incentive scheme for EV firms, parts makers

THE Department of Trade and Industry said it is working on a “special program” that will attract investors to various segments of the electronic vehicle (EV) industry all across the value chain.


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Revisiting the rules on claiming withholding tax credits

Every tax filing season, corporate taxpayers grapple to complete and collect all the certificates of Creditable Tax Withheld (BIR Form 2307) from their local customers up to the eleventh hour. Issues on the validity of the creditable withholding tax (CWT) certificates, and the propriety or timing of recognizing the income tax credits come to the fore. It makes me wonder how hard-earned money contributed to government coffers could still be subject to dispute.

Looking forward to the 2019 SONA

There is no shortage of anticipation in the lead-up to a scheduled 4th State of the Nation Address (SONA). The one this coming July 22 should be no exception. After all, the 4th SONA of any presidency occurs just a few months after the scheduled Midterm National and Local Elections. Any president, more so if his/her endorsed coalitions won with a comfortable margin, would take this opportunity not only to take pride in this, it will also try to build bipartisan confidence in order to pursue its agenda for the remaining three years -- unencumbered by the inflamed partisan attitudes fostered by the recently concluded fight.

Reason over populism in infrastructure development

Populism, or the appeal to pacify the masses and demonize the corporations and “elites,” seems to be getting louder under the Duterte administration than under its predecessors. I will briefly discuss three sectors -- water supply, power development, and mining in this light.

MBAs do make a difference

I am here to tell you my story. I was a simple kid who grew up in Antipolo. I was raised and inspired by a single mom, who danced her way to success and gave us the gift of quality education. Our home was far from the business districts such as Ortigas and Makati. No one in my immediate family and in the community had ever experienced working in big corporations. Life there was simple, people were not wealthy, but growing up in that community created a gold mine of memories.

What we get wrong when we talk about UFOs

IF YOU’RE reluctant to believe the latest round of media claims that alien spacecraft are lurking around our airspace and surprising Navy pilots, well, you are not alone.

Trump will be first to blink in China stare-down

SAN FRANCISCO -- Donald Trump will be the first to blink in his stare-down contest with China. The US president and counterpart Xi Jinping will try to restart trade talks at this week’s G20 summit. Trump may be hoping Beijing will back down, but he needs a deal more -- and Xi is feeling combative.

Phoenix sinks Northport

THE Phoenix Pulse Fuel Masters halted the steamrolling Northport Batang Pier, 97-87, in Philippine Basketball Association Commissioner’s Cup action on Wednesday at the Smart Araneta Coliseum.

Martens sends Netherlands to quarters

RENNES, FRANCE -- The Netherlands reached the women’s World Cup quarterfinals for the first time when Lieke Martens’ last-gasp penalty earned them a 2-1 victory against Japan on Tuesday.

Run stops for Ceres-Negros FC at the AFC Cup

CERES-NEGROS FC’s bid to make it to a third straight AFC Cup ASEAN Zone finals fell short on Tuesday night after losing, 2-1, to Hanoi FC in the second leg of their zonal semifinals at the Hang Day Stadium in Vietnam.

Rafael Nadal says Wimbledon’s seedings system ‘not a good thing’

LONDON -- Spaniard Rafael Nadal has criticized Wimbledon’s unique seedings formula, which could hinder his chances of a third title when the tournament starts on Monday.

PHL teeners join First Thailand Chess Festival

THE Philippines is set to compete in the First Thailand Chess Festival at the Le Bali Resort and Spa, Pattaya, Thailand from July 7 to 18.

2019 Asian Championship

The Championship started in 1998 and became an annual event. From then up to now there have been eight champions from China (Xu Jun, Zhang Zhong, Zhang Pengxiang, Ni Hua, Li Chao, Yu Yangyi, Wang Hao and Wei Yi), five Indians (Krishnan Sasikiran, Surya Shekhar Ganguly, Penteala Harikirshna, Parimarjan Negi and SP Sethuraman), one Uzbek (Rustam Kasimdzhanov), one Vietnamese (Le Quang Liem) and even one from the United Arab Emirates (Salem AR Saleh), but never a Filipino.

Saving reputation

When the Golden State Warriors general manager Bob Myers held a news conference the other day, it was for the purpose of introducing draft choices Jordan Poole, Alen Smailagic, and Eric Paschall. Nonetheless, discussions in the presser invariably veered toward the impending free agency of All-Stars Kevin Durant and Klay Thompson. It wasn’t simply that the prospect of offering them max contracts, long seen as academic even in the face of luxury tax concerns, became muddled after their injuries in the immediate past NBA Finals will effectively red-shirt them throughout the 2019-20 season. More importantly, it was due to seeming changes in their own mindsets given the manner in which they suffered from unfortunate twists that required surgery and prolonged convalescence.
congress bicam

Speakership race heats up sans a Duterte pick

MARINDUQUE Rep. Lord Allan Jay Q. Velasco is ruling party Partido Demokratiko Pilipino-Lakas ng Bayan’s (PDP-Laban) speakership bet, Senator Emmanuel D. Pacquiao announced on Wednesday.

Foundation with Kapa stake sues Duterte, SEC chair for P3B in damages

A FOUNDATION that made donations to the Kapa-Community Ministry International, Inc. asked the Supreme Court to remove their organization from the list of unregistered investment entities issued by the Securities and Exchange Commission (SEC), and to allow Kapa to resume operations.
1000 peso bills

Peso weakens on Fed remarks

THE PESO weakened against the dollar following less dovish remarks from US central bank officials.
PSE BGC

Local shares fall further ahead of US-China talks

LOCAL EQUITIES fell on Wednesday as investors continued to wait on the sidelines ahead of trade negotiations between the United States and China later this week.

Carpio says allowing Chinese fishermen in EEZ unconstitutional

SUPREME COURT Associate Justice Antonio T. Carpio said allowing Chinese fishermen to trawl in the country’s exclusive economic zone (EEZ) is unconstitutional.

Better IT system key to preventing health fraud

FORMER HEALTH Secretary Enrique T. Ona said upgrading the information technology (IT) systems within the Department of Health (DoH) and its attached agencies will help prevent fraudulent activities such as the recent “ghost” dialysis claims involving the PhilHealth Health Insurance Corp. and a private service provider.

DILG to pursue federalism campaign despite backtrack by President

THE DEPARTMENT of Interior and Local Government (DILG) said the shift to a federal government is still a priority of the administration despite the latest pronouncement by President Rodrigo R. Duterte acknowledging that the move is unlikely to gain enough support in Congress.

Invasive

As part of the observance of Environment Month 2019, a Janitor Fish Extraction Contest was held at the Marapong Creek in Pili, Camarines Sur.

LRT-1 EDSA station expansion in the works

LIGHT RAIL Manila Corp. (LRMC), operator of the LRT Line 1, announced yesterday that it has started expanding the EDSA station to improve safety and convenience for passengers.

DepEd-Western Visayas eyes study-work program to address high dropout rate in secondary school

THE DEPARTMENT of Education-Western Visayas (DepEd-6) is looking into piloting a program in Antique that will allow secondary school students to study and earn a living at the same time.

Reformation program launched in Basilan for ex-Abu Sayyaf members

A PROGRAM aimed at transforming the lives of 214 former members of the Abu Sayyaf Group (ASG) was launched in Basilan Monday as part of government efforts to address violent extremism in this island province.

Davao City government appeals for lifting of Mindanao-wide martial law declaration

OFFICIALS OF Davao City, the hometown of President Rodrigo R. Duterte, have called for the lifting of the Mindanao-wide martial law declaration, citing its adverse impact on tourism as well as investments.

Nation at a Glance — (06/27/19)

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

Startups wanted for fourth season of CNN’s The Final Pitch

The Final Pitch is set to return for its fourth season on CNN Philippines later this year in September. Today, CNN is looking for...

Education reform and the Philippine economy

As “Asia’s Rising Tiger,” the Philippines has gained a reputation for rapid economic growth that has stayed on course no matter the circumstances. Despite...

Scholarships to help Filipinos earn a college degree

Education for many is the only way to escape from poverty. However, this is not the case for some Filipinos. Based on the 2017...

Steps toward better education

In a bid to enhance the quality of and increase access to education in the Philippines, the Department of Education (DepEd) and the Commission...
port of manila

Firms more bullish, families bearish in Q2

BUSINESSES were on the whole more confident of prospects this quarter compared to the preceding three months as they expected improved demand -- marking the second straight quarter of improvement -- but households turned slightly more pessimistic in the same comparative periods in the face of rising prices, according to results of the central bank’s latest surveys on these two segments that were released to media on Tuesday.
tax collector

NG posts third budget surplus, though smallest year to date

THE NATIONAL GOVERNMENT (NG) posted its third budget surplus for this year in May, as revenues outpaced spending, but it was the smallest surfeit so far, according to official data the Bureau of the Treasury released on Tuesday.

Global survey finds PHL millennials less optimistic compared to previous years

FILIPINO MILLENNIAL’s confidence in the country’s economic and socio-political situation has declined, according to survey results reported on Tuesday by NavarroAmper & Co., the Philippine management consultancy that forms part of the global Deloitte network.
office workplace meeting

Filipino millennials’ optimism eroded

FILIPINO MILLENNIAL’s confidence in the country’s economic and socio-political situation has declined, according to survey results reported on Tuesday by NavarroAmper & Co., the Philippine management consultancy that forms part of the global Deloitte network.
Securities and Exchange Commission (SEC) logo

Regulator tweaks guidelines on corporate names

THE Securities and Exchange Commission (SEC) has revised the guidelines on corporate names to reflect changes in the Revised Corporation Code, particularly on the formation of one person corporations (OPC).

Cathay Dragon looks to increase HK-Davao flights

DAVAO CITY — Cathay Dragon, which currently serves the Davao-Hong Kong (HK) route four times a week, is looking at an increase to daily flights, noting the good load factor since its launch in October 2018.

SEC issues warning vs ‘Good Samaritan Riders’ group

THE Securities and Exchange Commission (SEC) has warned the public against investing in Tagbilaran-based group The Philippines Good Samaritan Riders Association, Inc, (TPGSRA) since it has no authority to do so.