Home 2019 July 5

Daily Archives: July 5, 2019 | 11:01 pm

Piñol out of Agri, but not out of gov’t

President Rodrigo R. Duterte on Friday confirmed that Agriculture Secretary Emmanuel F. Piñol is leaving his Cabinet post. But this does not mean he is out of government.

Inflation slowest in almost two years in June

INFLATION eased in June to post its slowest reading in almost two years, the Philippine Statistics Authority (PSA) reported on Friday, giving more room for the central bank to continue loosening monetary policy.

Factory output continues to decline

FACTORY OUTPUT posted its sixth consecutive month of decline in May albeit at a slower pace, the Philippine Statistics Authority (PSA) reported on Friday.

Gov’t ready to face UN inquiry into drug war — Justice Secretary

JUSTICE Secretary Menardo I. Guevarra said on Friday that the Philippine government is ready should the United Nations start a probe into the administration’s war on drugs, this after Reuters reported that Iceland has submitted a draft resolution calling for an investigation into the alleged killings related to the drug war.

Paolo Duterte forms coalition “to unite” the House

AS THE battle for House speakership drags on with more players joining the fray, Presidential son and Davao City 1st district Rep. Paolo Z. Duterte has formed a coalition in the hope of uniting the House.

Jeremiah Belgica to head Anti-Red Tape Authority

PRESIDENT Rodrigo R. Duterte has appointed Jeremiah B. Belgica as director general of the Anti-Red Tape Authority (ARTA), Malacañang said on Friday.
class students teachers

Bill filed raising teachers’ salaries

SENATOR Sherwin T. Gatchalian filed a bill that aims to raise the salary of public school teachers to be at par with the ASEAN average.

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Fishers group vows to file impeachment case vs Duterte

DESPITE President Rodrigo R. Duterte’s threat to jail anyone who files an impeachment case against him, fishermen’s group Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) on Friday vowed to pursue his impeachment for “treason and violating the Constitution” for allowing Chinese nationals to exploit marine resources in the country’s exclusive economic zone (EEZ).

Cebu gov’t to file cases vs former Mayor Osmeña for stripping office bare

THE Department of Interior and Local Government (DILG) said the local government of Cebu City will file cases against former mayor Tomas R. Osmeña for stripping bare his office as his term ended last week.

PCOO blames COA regulations for slow uptake of federalism funds

REPLYING to the demand letter sent by the Department of Interior and Local Government (DILG) regarding the failure of the Presidential Communications Operations Office (PCOO) to submit progress reports on the P10-million information campaign drive on federalism, PCOO Assistant Secretary Marie Banaag turned the tables on the Commission on Audit (COA), saying it was the COA’s own guidelines that slowed the transfer of funds.

Kapa officials snub DoJ probe

OFFICIALS from Kapa-Community International Ministry, Inc. (Kapa) failed to show up on Friday in the Department of Justice’s(DoJ) first preliminary probe on the alleged Ponzi scam spearheaded by the organization on its members.

Sandiganbayan to await lifting of TRO before continuing with SAF 44 case

THE Sandiganbayan Fourth Division will wait until the Supreme Court lifts the temporary restraining order (TRO) on the graft and usurpation cases against former President Benigno C. Aquino III before it can hear Ombudsman Samuel R. Martires’ motion to withdraw the cases.

50,000 prospective BPO jobs gone with moratorium on new ecozones — IBPAP

THE business process outsourcing (BPO) industry is seeing 50,000 job opportunities going up in smoke thanks to the government’s moratorium on opening new ecozones in Metro Manila.

Skyway Stage 3 Plaza Dilao Ramp to open this month

THE Department of Public Works and Highways (DPWH) is scheduling to open a portion of the Metro Manila Skyway Stage 3 within the month.

Philstocks hikes PSEi yearend target to 8,500

LOCAL brokerage firm Philstocks Financial, Inc. revised upward its yearend target for the Philippine Stock Exchange index (PSEi) to 8,500, banking on the continued slowdown of inflation and better earnings in the second half of the year.

EEI, Hanjin Heavy partner for construction projects

YUCHENGCO-LED EEI Corp. has partnered with South Korea’s Hanjin Heavy Industries & Construction Co. Ltd. (HHIC) for potential construction projects in the country.

Reserves climb for eighth straight month in June

GROSS international reserves climbed for the eighth straight month in June, the central bank reported Friday.
PH coins new

Liquidity, bank lending growth ease in May

MONEY SUPPLY growth eased in May due to lower demand for credit, the Bangko Sentral ng Pilipinas (BSP) reported Friday.

Allianz PNB sees slower growth in life insurance sector

ALLIANZ PNB Life Insurance, Inc. expects the life insurance industry to post slower growth in 2019 dragged by liquidity issues in the first half of the year.

Peso weakens ahead of US jobs data

THE PESO declined against the dollar on Friday as the currency continued to trade sideways ahead of the release of jobs data in the United States.
PSE bell

Stocks rise as inflation slows anew

STOCKS climbed on Friday as inflation decelerated to its slowest level in almost two years in June.

Founder’s Guide: Five pieces of advice from Ignite PH 2019

The path of running a startup is an endless series of steep learning curves. And while this has always been part of the entrepreneurial...

Factory output declines in May

Manufacturing output posted its sixth consecutive month of decline in May albeit at a slower pace, the government reported this morning. Preliminary results of the...

Inflation slows to 2.7% in June

The increase in the prices of widely used goods eased in June, the Philippine Statistics Authority (PSA) reported this morning. Preliminary data from the PSA...

The story behind ‘making the switch’

An interview with JUUL Labs’ Founder and Chief Technology Officer Adam Bowen “I really wanted to develop something that has a positive impact on society,”...
Bank Vault

Fitch: Banks to ride PHL’s ‘robust’ growth

THE PHILIPPINES’ “fairly robust” economic growth -- though below official target so far -- can be expected to generate profit and expansion opportunities for banks in the country, Fitch Ratings said on Thursday, adding that liquidity conditions will likely ease further due to central bank steps to loosen monetary policy in step with much of the world.

BSP chief says change to Constitution now would be ‘disruptive’ to economy

CHANGING the Constitution in the second half of President Rodrigo R. Duterte’s six-year term that began in mid-2016 would be “disruptive” to the economy, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said in an interview televised on Thursday.

Caution pressed in renewable energy push

A PLAN to expand the country’s renewable energy (RE) portfolio needs “careful study” -- even if it is a step in the right direction -- in order to prevent passing the burden to consumers, the chairman of the Senate’s energy panel said.

Kolateral damage: Rap album takes on the war on drugs

BACKED BY two years of research into the Philippines’ ongoing drug war led by President Rodrigo R. Duterte, Kolateral is a 12-track rap album that includes the numbers, the stories, and the effects of the war on drugs.

Boyzone, signing off

FANS OF 1990s boy bands died a little inside when Boyzone finally said goodbye after more than 25 years of performing and touring. But the group was not about to go out without a bang and delivered what was arguably a fitting finale show where they sang all their greatest hits, leading the entire SM Mall of Asia Arena to reminisce on the period that was.

SMC Global Power raises $300M from securities

SMC Global Power Holdings, Inc. raised an additional $300 million from the issuance of senior perpetual capital securities that will be listed on the Singaporean exchange.

DoLE says not all firms can afford 14th-month pay

LABOR Secretary Silvestre H. Bello said the proposal to implement 14th-month pay requires further study in Congress since it could affect employers adversely.

The Voice Kids returns with the original coaches for Season 4

HAVING TAKEN a break after its third season in 2016, The Voice Kids returns with original coaches Sarah Geronimo, Bamboo Mañalac, and Lea Salonga.
Silvestre H. Bello III

Bello rejects ITUC claims of trade union deaths

LABOR Secretary Silvestre H. Bello III disputed the International Trade Union Confederation’s (ITUC) finding that the Philippines oppresses labor organizations.

PPA aims to award OPS to Chelsea for Sasa in Q3

THE Philippine Ports Authority (PPA) is aiming to award original proponent status (OPS) within the third quarter to Chelsea Logistics and Infrastructure Holdings Corp. for its proposal to modernize the Sasa Port in Davao City.

Pop-up fair marks return of Stranger Things

AS NETFLIX starts streaming the third season of Netflix’s Stranger Things, which premiered on July 4, a special pop-up gives fans a taste of the Upside Down.

Trade training center to offer 20 free seminars

THE PHILIPPINE Trade Training Center (PTTC) will be offering 20 free training programs to prospective entrepreneurs next week, as part of its observance of Micro, Small, Medium Enterprises (MSME) Week.

China Bank looks to raise up to P20B from LTNCDs

CHINA BANKING Corp. (China Bank) will raise up to P20 billion through the issuance of long-term negotiable certificates of deposit (LTNCD) to support asset generation and expansion.

AC Health increases Generika stake

THE health care arm of Ayala Corp. (AC) on Thursday completed its acquisition of additional shares in the Generika Group, bringing its total ownership to 52.5%.

Wait till your father gets…

STANLEY KUBRICK, reportedly dismayed by the poor box office of Barry Lyndon, decided his next project would be a horror film; he skimmed through the first few pages of a stack of books (tossing those that failed to hold his attention in a growing pile), and ultimately settled on Stephen King’s The Shining, about a haunted hotel that turns an alcoholic father against his wife and telepathic son.

US small-business owners report struggles, challenges in achieving work-life balance

SMALL business owners in the US spent the equivalent of 17 days a year worrying about their businesses, according to a survey conducted by Internet domain registrar GoDaddy and One Poll, the equivalent of four hours a week.
Donald Trump

Be ‘prepared for anything’ as Trump slams Europe, China on foreign exchange issues

US PRESIDENT Donald Trump’s latest accusation of currency manipulation has foreign-exchange (FX) analysts game-planning the administration’s next move.

Converge to bring fixed broadband to the Visayas, Mindanao by 2021

CONVERGE ICT Solutions, Inc. said its fixed broadband service may arrive in the Visayas and Mindanao regions by 2021 as it aims to start within the year the buildout of its fiber backbone outside Luzon.

TWICE the excitement, double the fun

EVEN WITH the deluge of Korean boy bands holding concerts and fan meetings in Manila, there is a dearth of K-pop girl groups performing in some of the biggest venues in the country. The last all-ladies team to stage a concert at the SM MOA Arena was the now-defunct 2NE1, with Sandara Park, in May 2014. Early this year, Momoland had a fan meeting at the Smart Araneta Coliseum while six-member GFRIEND opted for the more intimate New Frontier Theater for its own concert in August 2018.

Making the switch, improving the quality of life

Despite successive increases in excise taxes on tobacco products, the Philippines continues to have one of the highest smoking rates in Asia, according to the World Health Organization (WHO).