Home 2019 July 9

Daily Archives: July 9, 2019 | 10:04 pm

CoA finds San Juan business tax undercollection of P736-M

THE Commission on Audit (CoA) said San Juan City failed to inspect the books of eight top taxpayers in 2017 and 2018, resulting in the undercollection of business taxes worth about P736 million.

Monetary Board 2018 foreign loan approvals up 111% at 7.3B

THE Bangko Sentral ng Pilipinas (BSP)’ Monetary Board approved a total of $7.355 billion worth of public sector loans to fund development projects in 2018, up 111% from a year earlier, the central bank said Tuesday.

Health dep’t to require FDA licensing for e-cigarette industry

THE Department of Health (DoH) said it will require licensing for all makers, sellers and distributors of e-cigarettes and vaporizers (vapes) under the new guidelines covering the sector.

ERC halves caseload of power co-ops late in paying fees

THE Energy Regulatory Commission (ERC) has closed more than two dozen pending cases against electric cooperatives for late or non-payment of supervision and regulation fees.

Philippines wins seat in UN marine science commission

THE PHILIPPINES has been re-appointed to the executive council of a United Nations organization for marine science, the Department of Foreign Affairs (DFA) said.

BoI sees P414M worth of investment from Cotabato chicken contract-growing deals

THE Board of Investments (BoI) said it expects nine procurement tie-ups to generate P414 million in investment after San Miguel Foods, Inc. (SMFI) participated in a business matching exercise in Cotabato Province.

TESDA, DepEd to harmonize policy for Senior High School technical-vocational program

THE Technical Education and Skills Development Authority (TESDA) said it has signed an agreement with the Department of Education (DepEd) to harmonize programs and standards for the technical-vocational education and training program of K-to-12 basic education system.

FDA orders withdrawal from market of gin brand on high methanol levels

THE Food and Drug Administration (FDA) has ordered the recall of all Cosmic Carabao Gin products from the market, after finding that the product contains high levels of methanol.

Hedge funds chart course through ‘IMO 2020’ storm

LONDON -- Shipping companies, refineries, freight derivatives or diesel cracks? Investment funds are placing their bets as the shipping sector prepares for new rules limiting sulphur emissions from ocean-going vessels.

Tawi-Tawi’s Sibutu Island chosen as site for floating solar farm prototype

THE Department of Agriculture (DA) said a prototype floating solar farm funded by the fisheries bureau will be built in Tawi-Tawi Province’s Sibutu Island.

Why not a Department of Agribusiness?

It seems that as often happens, Rodrigo Roa Duterte’s announced “transfer” of Agriculture Secretary Emmanuel Piñol to the Mindanao Development Authority is on hold following the announcement by Senator Bong “Rasputin” Go that Piñol is still staying in his Cabinet post because “he has performed well.” I wonder what the basis for this assessment is since all the statistics (contribution to GDP, growth rate, etc.) indicate the dismal state of Philippine agriculture, on which 30% of our families basically depend, and to which most of our poverty incidence belongs.

A Triennial Victory

The undulation of Philippine sovereignty in the historically labeled South China Sea is becoming more turbulent. And as the Duterte presidency reaches its three-year mark, the arbitral ruling on the contested waters is also approaching its triennial.

Being in the Internet spotlight and Intellectual Property Rights

For quite a number of us, a significant chunk of the things we learn comes from the internet. The internet will likely have information that will satisfy an individual’s intellectual desires. A popular source of information are online video blogs or vlogs. These vlogs present information through a combination of video clips, supporting texts, and images. There has been an increasing preference for these vlogs since information is presented in a more entertaining, if not more palatable, manner than its text counterpart.

The slimy logic of politicians

The sinking of a Filipino fishing boat in Philippine waters by a Chinese vessel and the way the government of President Rodrigo Roa Duterte has handled the incident have delivered a clear message to the Filipino people.

Peso inches up as market awaits Powell’s US Congress testimony

THE PESO gained a tad against the dollar on Tuesday as it moved sideways ahead of the testimony of Federal Reserve chair Jerome Powell before the US Congress.

Stocks drop further ahead of Powell testimony

SHARES CONTINUED to drop on Tuesday, following the negativity in Wall Street as investors waited for further clues from the US Federal Reserve on their decision on interest rates.

Martial rule still an option for Duterte presidency

PRESIDENT Rodrigo R. Duterte may still declare martial law, assume emergency powers or set up a revolutionary government as a last resort to solve the country’s worsening illegal drug problem, his spokesman said yesterday.

Maritime regulator seeks more perks for shipbuilders

THE MARITIME Industry Authority (Marina) is seeking more incentives for the shipbuilding and ship repair industry to drive investment growth, the agency said in a statement yesterday.

Palace says Duterte still trusts Customs chief Guerrero

PRESIDENT Rodrigo Duterte still trusts his Customs chief even after threatening to fire more officials at the agency for corruption, his spokesman said on Tuesday.

Transport regulator looking at relaxing ride-sharing rules

THE LAND Transportation Franchising and Regulatory Board (LTFRB) said it might relax the application process for ride-sharing services in the country after a dialogue with operators yesterday.

Cebu City gov’t files complaint vs Osmeña, 44 others for ‘malicious demolition’ of mayor’s...

FORMER CEBU City mayor Tomas R. Osmeña and 44 others are facing criminal and administrative complaints before the Office of the Ombudsman for the “malicious demolition” of the mayor’s office. Mejelito C. Cajes of the city’s Building Maintenance Services filed the complaints Monday with the assistance of City Legal Officer Rey M. Gealon.

Kadayawan main events spread out to accommodate more tourists

THIS YEAR’S Kadayawan Festival will have the main events spread out on different weekends instead of the usual one week for an opportunity to accommodate more visitors.
Solicitor-General Jose Calida

Petitioners in West PHL Sea protection case before SC agree to drop case

SOLICITOR-GENERAL Jose C. Calida said both parties in the petition for Writ of Kalikasan seeking the enforcement of environmental laws and protection of territories...

CoA flags past Pasig City administration for over P755M in unused supplies

THE COMMISSION on Audit (CoA) has flagged the past administration of Pasig City under former mayor Robert C. Eusebio for buying P951.787 million worth of supplies, but only used P196.137 million.

DoJ orders NBI to probe killing of Dinagat Islands provincial board member

JUSTICE SECRETARY Menardo I. Guevarra has ordered the National Bureau of Investigation to probe the killing of a member of the Dinagat Islands Sangguniang Panlalawigan (provincial board) last July 7.

Nationwide round-up

THE ALLEGED manager of “Manga-Mura,” an illegal viewing Web site of Japanese cartoons or Manga, a fugitive wanted in Japan for copyright law infringement, was arrested last July 7 by the Bureau of Immigration.

Nation at a Glance — (07/10/19)

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

Magnolia looks to arrest skid and book QF berth

LOSERS of their last two matches which has prevented them from barging into the quarterfinals of the Philippine Basketball Association Commissioner’s Cup, the Magnolia Hotshots Pambansang Manok are out to arrest their skid when they collide with the Rain or Shine Elasto Painters in league action today at the Smart Araneta Coliseum.

College of Saint Benilde edges tough EAC, 69-66

THE COLLEGE of Saint Benilde Blazers survived a tough challenge from the Emilio Aguinaldo College Generals in their National Collegiate Athletic Association Season 95 debut on Tuesday, holding on to a narrow 69-66 victory at the FilOil Flying V Arena in San Juan City.

Top clubs Kaya, Ceres in marquee PFL match

CHAMPION clubs Kaya FC-Iloilo and Ceres-Negros FC go into battle in the lone midweek fixture of the Philippines Football League today at the Philippine Football Federation National Training Center in Carmona, Cavite.

Stacked Aug. ONE Manila event further solidifies

AN already-stacked Manila card in August of ONE Championship got loaded some more with recent additions and changes made by the promotion this week.

Halep ends wayward Gauff’s Wimbledon dream

LONDON -- Coco Gauff’s dream Wimbledon run came to an abrupt end on Monday when the consistency of seventh seed and former world number one Simona Halep proved a step too far for the 15-year-old American, who went down 6-3 6-3 in only 75 minutes.

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Thunder ship Grant to Nuggets, Westbrook talks ongoing

LOS ANGELES -- Russell Westbrook’s 11-year run in Oklahoma City could be coming to a close as the Thunder shift into rebuilding mode.

A case for the Baby Beast

Friends of mine on social media would attest that I am one in supporting the inclusion of Philippine Basketball Association rookie CJ Perez in the Gilas Pilipinas roster competing at the 2019 FIBA Basketball World Cup in China beginning next month.

The Raptors, champions yet pawns

The Raptors knew they were taking a big risk when they pulled the trigger on the trade for Kawhi Leonard a week short of a year ago. For one thing, he was set to become a one-season rental; free agency in 2019 beckoned, and his camp made no secret of his preference to play in native California. For another, they needed to give up their identity in the process; the Spurs wanted another superstar, and specifically DeMar DeRozan, who, as their ninth overall pick in the 2009 draft, relished being the face of a franchise otherwise lacking in pull. Giving him up meant redefining the unique culture they had built and fortified; yes, they ran their affairs professionally, but they were a family first and foremost, and they took care of their own.

Suntrust Asmara: A gateway to the best of Quezon City

BUYING a home is one of the most significant financial decisions every individual will ever make. And the importance of location cannot be overemphasized in this matter. In fact, the “buzzwordy” catchphrase in real estate to stress its importance -- “Location, location, location” -- never goes out of style, reminding home buyers that they can make a house revamp anytime but can’t change a bad location again and again.

Analysts see IPO drought persisting

COMPANIES looking to raise funds via initial public offering can still be expected to stay on the sidelines for much of this year, as they await better market conditions amid easing inflation and improving global trade, analysts said in recent interviews when asked for their assessment.

Meralco bills down for 3rd month in July

HOUSEHOLDS in Metro Manila and surrounding areas can expect their electricity bills to go down for the third straight month in July, as Manila Electric Co. (Meralco) announced a P0.1068 per kilowatt-hour (/kWh) drop in overall rate as a slight increase in generation charge covering the June supply month was offset by a fall in other costs.

Gov’t infrastructure spending rebounds in May

STATE INFRASTRUCTURE spending recovered in May, according to a report the Department of Budget and Management (DBM) released to media on Monday, citing in part projects of the Transport and the Public Works departments.
emerging market currencies

Sovereign investors shun Europe for Asia, emerging markets

LONDON -- Nearly three times as many sovereign investors plan to raise exposure to emerging markets rather than Europe this year as the continent’s attraction wanes due to slowing economic growth and rising political risk, a study by asset manager Invesco showed.

Time to make your pitch on TV

BUSINESS reality TV show The Final Pitch is back for a fourth season featuring judges from previous seasons once again looking for the best Philippine startups from aspiring entrepreneurs.

‘Let’s Get It On’ copyright cases halted for Led Zep appeal

A COPYRIGHT battle over Marvin Gaye’s “Let’s Get It On” was halted last week by a judge until a separate fight over Led Zeppelin’s “Stairway to Heaven” is resolved.

Spider-Man: Far From Home opens with $185M

LOS ANGELES — Superheroes were once again around to save the day as Spider-Man: Far From Home ignited a much-needed boost in the domestic box office. The web-slinging adventure easily dominated in North America, delivering a $185 million debut from 4,636 venues during its first six days in theaters.

URC partners with Intersnack for Oceania

UNIVERSAL Robina Corp. (URC) is partnering with Europe’s Intersnack Group in a bid to expand its operations in the Oceania snack food market.

PSEi expected to end year within 8,400-8,600 level

THE Philippine Stock Exchange index (PSEi) is seen to end the year within the 8,400 to 8,600 range, boosted by lower interest rates and the expected earnings growth for listed firms for the rest of the year.