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Daily Archives: July 2, 2019 | 10:17 pm

Department of Budget and Management (DBM) facade

Budget submission to wait on House leadership struggle

THE Department of Budget and Management (DBM) said it will wait for the House of Representatives to select a new Speaker before it submits its 2020 budget proposal.

GSIS head resigns for ‘personal reasons’

GOVERNMENT Service Insurance System (GSIS) President and General Manager (PGM) Jesus Clint O. Aranas said he resigned Tuesday, for “personal reasons” according to his communications staff.

PEZA to commission independent study on impact of eco-zone incentives

THE Philippine Economic Zone Authority (PEZA) said it will commission an independent study to establish which of its fiscal incentives the are effective in driving economic growth, to establish the case for retaining the perks when the legislation comes before Congress.
International Labour Organization (ILO) logo

ILO expecting trillions of dollars in lost productivity as planet warms

THE International Labor Organization (ILO) said heat-related stress resulting from global warming will result in productivity losses equal to more than $2 trillion by 2030 worldwide.

Malacañang approves P25-billion Boracay medium-term plan

PRESIDENT Rodrigo R. Duterte has approved the Boracay Medium-Term Action Plan, which covers measures for the resort island like enforcement of environmental rules and waste management.

CoA finds unauthorized cargo releases at ports

THE Commission on Audit (CoA) said it found that the Bureau of Customs (BoC) released without authorization cargoes that did not pay over P5 million in fees, among other irregular transactions.

Dyson seeks pioneer-status incentives for Philippine-made products

THE PHILIPPINE UNIT of Dyson Electronics Pte. Ltd., a British-founded technology company that anounced a strategic relocation to Singapore, is seeking pioneer status from the Philippine Economic Zone Authority (PEZA) to manufacture hair dryers, vacuum cleaners and motors for its appliances.

Sugar output rises 0.63% in mid-June

SUGAR PRODUCTION at the second week of June rose 0.63% year-on-year, the Sugar Regulatory Administration (SRA) said.

Locked out of China, US pork producers sniff out new buyers

CHICAGO -- US hog farmers lost hundreds of millions of dollars in export sales to China and Mexico after President Donald Trump launched his trade wars last year.

DILG to distribute over ₱11 billion to support 1,373 low-income local governments

THE Department of Interior and Local Government (DILG) said it allocated P11.714 billion to support 1,373 municipalities under its Assistance to Municipalities (AM) program.

The June 9 Reed Bank Incident: Chinese gray zone operation in action?

The warm waters of the South China Sea are rich, which make them highly contested fishing grounds. China is the largest littoral state around this body of water, and it has a huge population to feed. It has built several supporting harbors and infrastructure in the last few years in the area, enabling it to deploy the largest fishing fleet in the South China Sea. The Chinese Maritime Militia (CMM) leads and protects China’s huge armada of fishing vessels.

66 years in media… and counting

I believe “Ad Lib” is the second longest-running column in BusinessWorld, next only to that of the venerable Tony Samson. But I think we both started writing for this paper the same year it was reincarnated from the ghost of Business Day. My first piece came out on Sept. 21, 1988, almost 31 years ago.

Of Passports, ‘Wash’ Sycip and Unbearable Lightness

WHEN Hong Kong denied entry to two valid Filipino passport holders, there seems no more to it than the rightful prerogative of a government to bar who it considers persona non grata. When the Philippine territorial waters and exclusive zones are being impunitively violated, there seems no more to it than conflicting territorial claims. Or wasn’t there? In the 1840s and 1850s Western colonial powers bombarded the coastal cities of Imperial China and even occupied Beijing to force China to open its borders to the lucrative opium trade. Defeated China was forced to swallow the “Treaty of Nanjing” dictated by the occupiers. The mindset behind these two actions set two centuries apart seems to be the same: “You are a lightweight, you don’t matter.”

Japan is cool but has no clue about selling itself

NETFLIX just re-released one of the most popular animated television programs of all time -- Neon Genesis Evangelion. The show, which combines dark, complex themes of alienation and loneliness with action-packed battles between robots and monsters, captivated the worldwide audiences when it came out in 1995. It introduced an entire generation to Japanese animation, whose high quality, adult themes and unique sensibilities helped redefine Japan’s culture in the eyes of the world, supplanting traditional visions of Mt. Fuji, geisha and tea ceremonies. But a quarter-century later, Japan is having difficulty transforming its newfound cultural cachet into economic riches.

Aussie fighter Tuivasa basking in chance to fight at the UFC

WITH FIVE FIGHTS under his belt in the Ultimate Fighting Championship since joining the promotion in 2016, Australian heavyweight fighter Tai “Bam Bam” Tuivasa said it is an opportunity that he is basking for the many lessons he has been getting in so many ways.

School girl Gauff turfs idol Venus out of Wimbledon

LONDON -- Cori Gauff served up the perfect excuse for playing hooky from school on Monday as the 15-year-old American caused one of the biggest shocks in Wimbledon history by dispatching Venus Williams 6-4 6-4 in the first round on Monday.

TNT KaTropa eye to keep top spot

LEAGUE-leading TNT KaTropa look to stay on top of the heap of the ongoing Philippine Basketball Association Commissioner’s Cup when they return to league action today against the Rain or Shine Elasto Painters at the Smart Araneta Coliseum.

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‘Miss’ missing as Wimbledon shakes up tradition

LONDON -- A familiar sound was absent from Wimbledon’s courts when the tournament started on Monday as umpires were no longer using a woman’s marital status at the end of each game and match.

Timberland Heights hosts first Salomon Xtrail event

TIMBERLAND Heights continues to bolster its position of being the metro’s prime eco-playground destination through its hosting of another prestigious sporting event, the Salomon Xtrail dubbed “Gateway to Sierra Madre.”

Djokovic sweeps through under keen gaze of Ivanisevic

LONDON -- Novak Djokovic has always been a player willing to try anything and anyone to improve his game and he now hopes that the presence of Goran Ivanisevic in his coaching team will help keep him one step ahead of the chasing pack.

Old-timers show young guns how it is done at All England Club

LONDON -- The older generation gave tennis’s tyros a lesson in staying power on Monday as a string of golden oldies, led by the 40-year-old Ivo Karlovic, stormed into the second round at Wimbledon.

All that Jazz

National Basketball Association free agency opened frenetically on Monday, July 1 (Manila time), with a lot of players on the move and set to join new teams come the 2019-20 NBA season.

LA bound

The second day of free agency in the National Basketball Association came and went with the status of Kawhi Leonard officially still up in the air. Even as a flurry of moves involving majority of marquee names of note served to include a full quarter of franchises in the title mix, his own figures to be the biggest game changer in the league’s most open season in recent memory. Which is why all and sundry remain transfixed on his plans for the 2019-20 season and beyond. He’s fresh off a remarkable playoff run that established his status as a dynasty killer and king of the hill, and his would-be decision shifts the balance of power to where he will ply his trade.
peso dollar bills

Peso declines against dollar ahead of key economic data

THE PESO weakened slightly against the dollar on Tuesday amid market uncertainty ahead of key economic data releases here and in the United States.

Shares extend climb as marts cheer US-China deal

STOCKS firmed up on Tuesday, rising with the rest of the world as the United States and China agreed on a truce to their ongoing trade war.

Carpio steps back from West Philippine Sea case

SENIOR ASSOCIATE Justice Antonio T. Carpio has inhibited himself from the petition asking the government to enforce environmental laws to protect and preserve three shoals in the West Philippine Sea.

Duterte suggests multi term-sharing for speaker’s seat

DAVAO CITY 1st District Rep. Paolo Z. Duterte has expressed his interest for the House speakership under a term-sharing arrangement involving several congressmen.
Department of Budget and Management (DBM) facade

DBM set to release P59-M budget for BTA

THE DEPARTMENT of Budget and Management (DBM) is set to release P59 million for the salary of the Bangsamoro Transition Authority (BTA) members of the newly-established Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

Nationwide round-up

A BILL banning political dynasties in government has been filed anew in the Senate by Minority Leader Franklin M. Drilon.

New Cebu governor orders halt to all quarrying, provincial engineer’s projects, and P1.3B capitol...

ON THE FIRST day of her return to the Capitol on Monday, Cebu Governor Gwendolyn F. Garcia issued directives stopping all quarrying activities, projects under the Provincial Engineer’s Office (PEO), and the P1.3 billion Capitol Resource Center project.

2 suspected Abu Sayyaf members nabbed in Taguig and Manila

THE NATIONAL Bureau of Investigation (NBI) arrested two alleged members of the Abu Sayyaf Group (ASG) involved in the 2001 Golden Harvest Kidnapping case in Basilan.

Local gov’t support vital to maintaining barangay health volunteers, says nutrition official

SUPPORT FROM local government units (LGUs) is crucial to the performance of barangay health workers and barangay nutrition scholars (BNS), according to an official of the regional office of the National Nutrition Council (NNC).

Nation at a Glance — (07/03/19)

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

Meralco wins 2019 In-House Community Practice Team of the Year for Integration

For its dedication to deliver more than and beyond the usual legal support services to the Company, Meralco Legal and Corporate Governance and Compliance...

Mining firm achieves high reforestation survival rate

Using world-class technologies, OceanaGold (Philippines), Inc. group of Foresters continually puts forward the Company’s reforestation and rehabilitation projects. The mine has already planted more than 1.6 million trees in its rehabilitation areas within the Didipio Mine including reforestation plantations in the provinces of Nueva Vizcaya and Quirino. The reforestation survival rate is an impressive 92%, above the Philippine national standard of 80%.

ASEAN manufacturing purchasing managers’ index, June (2019)

BUSINESS for manufacturers in the country improved just slightly in June, as a boost from “a solid rate of output expansion” was capped by “a softer increase in total new orders and the fastest drop in export sales” in the country’s three-and-a-half-year survey series, according to the latest Philippine monthly tracking IHS Markit conducts for Nikkei, Inc.
assembly line

Factory activity bares ‘marginal’ growth

BUSINESS for manufacturers in the country improved just slightly in June, as a boost from “a solid rate of output expansion” was capped by “a softer increase in total new orders and the fastest drop in export sales” in the country’s three-and-a-half-year survey series, according to the latest Philippine monthly tracking IHS Markit conducts for Nikkei, Inc.
Manila International Container Port (MICP)

Duterte OK’s new export dev’t plan

PRESIDENT Rodrigo R. Duterte has approved the government’s new export development plan, short of a year after it was submitted to his office by the Cabinet Economic Development Cluster, providing a road map for improved performance of both service and merchandise exports at a time of challenging global demand conditions.

Finance chief seeks to assure new lawmakers on tax reform

FINANCE SECRETARY Carlos G. Dominguez III reached out to lawmakers of the incoming 18th Congress on Monday, downplaying -- in a forum to inform the public on government achievements midway into President Rodrigo R. Duterte’s six-year term -- risks from supporting tax reforms.

Expect EDSA traffic to ease by yearend — DPWH

THE DEPARTMENT of Public Works and Highways (DPWH) said a significant easing of traffic along Epifanio Delos Santos Avenue (EDSA) can be expected by the end of the year as it anticipates completion of several road projects that should help reduce significantly the volume of cars on Metro Manila’s main thoroughfare.

Alliance Global sets P410-B capex for five years

ALLIANCE Global Group, Inc. (AGI) plans to spend P410 billion in capital expenditures (capex) over the next five years to sustain the expansion of its property, liquor, gaming, restaurant, and infrastructure businesses.

CNPF allots P2-B capex this year

CENTURY Pacific Food, Inc. (CNPF) is setting aside P2 billion for capital expenditures (capex) this year to expand its capacity, as it targets to grow its bottom line at a double-digit pace.

What to expect from Philippines’ most expensive condominium

AN ULTRA-LUXURY residential condominium being developed in the heart of Makati is grabbing headlines for its eye-watering price tag of around P600,000 per square meters (sq.m.).

RLC to form JV with Gokongwei foundation

ROBINSONS Land Corp. (RLC) is partnering with sister firm Gokongwei Brothers Foundation, Inc. (GBFI) for a new company to be valued at P5 billion.

Sting returns to PHL in October

MULTI-AWARDED English musician Gordon Thomas Matthew Sumner, better known by the mononym, Sting, is coming to Manila to perform in a concert on Oct. 2 at the Smart Araneta Coliseum in Cubao, Quezon City. This is part of his ongoing international tour, My Songs.