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Monthly Archives: August 2019

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August inflation rate seen easing to as low as 1.3%

THE general increase in prices of widely used goods may have slowed further in more than three years due to lower fuel, rice, and power prices in August, the central bank said on Friday.
Peso bills

Duterte inks law regulating Islamic banks

PRESIDENT Rodrigo R. Duterte last week signed into law the regulatory framework for Islamic banks in the Philippines.

6 deals signed during Duterte-Xi’s 8th meeting

PRESIDENT Rodrigo R. Duterte and Chinese President Xi Jinping on Thursday witnessed the signing of six bilateral agreements between the Philippines and China, including a $219-million loan for the Philippine National Railways (PNR) South Long Haul Project.

China refuses to recognize arbitral ruling

CHINESE President Xi Jinping on Thursday refused to recognize the 2016 arbitral ruling that voided China’s claims to more than 80% of the South China Sea even as his “old friend” Philippine President Rodrigo R. Duterte insisted that the decision was “final, binding and not subject to appeal.”

UHC Law will take 3 or more years to implement, says PhilHealth president

PHILHEALTH President Ricardo Morales admits that nationwide implementation of the Universal Health Care (UHC) Law will take a few years to take effect, citing funding and capability issues.
Antonio F. Trillanes IV

Trillanes denies kidnapping charge

FORMER Senator Antonio F. Trillanes IV denies kidnapping a woman back in 2016 which is alleged to have been part of efforts in bringing down the Duterte administration. Mr. Trillanes said that this is the administration’s way of putting down critics.
Salvador S. Panelo

Convicts released for good conduct should go back to jail if crimes were heinous...

MALACANANG on Friday said former inmates who were convicted of heinous crimes and subsequently released for good conduct should be sent back to jail.

Bill filed removing non-teaching responsibilities from teachers, opening School Health and Safety Offices

A LAWMAKER has filed a bill which removes non-teaching responsibilities from the shoulders of teachers and faculty members in state-run schools. Among this non-administrative work is manning the school clinic and the guidance office, and the like.

Duterte directs agencies to revert accounts payable to state coffers

PRESIDENT Rodrigo R. Duterte has issued an executive order directing all national government agencies to revert all accounts payable which “remain outstanding for at least two years and for which no actual claim has been filed” to the national coffers.
consumer shopping

Faster spending, consumption to boost economic growth

FASTER state spending, slower inflation and robust overseas remittances are seen to boost economic growth this semester, according to the latest joint assessment by the First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P).


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PAFMIL asks for extension of Turkish flour anti-dumping duty

FLOUR MILLERS are seeking for a five-year extension of the anti-dumping duty on Turkish flour due to expire in 2020.

PhilRice targets to distribute seeds for next year’s dry season by October

THE PHILIPPINE Rice Research Institute (PhilRice) is targeting the distribution of rice seeds starting October in preparation for the dry season next year.

DoubleDragon unfazed by POGO crackdown

DoubleDragon Properties Corp. on Friday said its diversified portfolio will help shield the company from adverse effects of the crackdown on the offshore gaming industry.

CPG seeks to convert 3 billion common shares into preferred shares

CENTURY Properties Group, Inc. (CPG) is seeking approval from its shareholders to convert three billion common shares into preferred shares with a par value of 53 centavos each, for future fundraising activities.

Recto files bill seeking to renew ABS-CBN franchise

A BILL seeking to renew the franchise of ABS-CBN Corp. for another 25 years has been re-filed at the Senate.

BPI to issue Swiss franc-denominated green bonds

BANK of the Philippine Islands (BPI) will issue its first two-year, 100-million Swiss franc-denominated, negative-yielding green bond, proceeds of which will be used to fund environmental projects through its Green Finance Framework.
peso dollar bills

Peso strengthens ahead of first round of US tariffs

THE PESO ended stronger on Friday ahead of the first tranche of the planned tariffs by the United States on some Chinese-made goods on Sept. 1.

PSEi bounces back on trade talk relief

THE main index bounced back to end the month at the 7,900 level, riding on the positive sentiment in Wall Street after China said it will not immediately retaliate against the United States’ tariff increase this Sunday.

Running your business the Alibaba Way, with Joshua Aragon

Pushkart.ph's Joshua Aragon shares his insights on the work culture, key practices, and ecosystem building strategies that have made Alibaba the global leader it is today.

Running your business the Alibaba Way, with JC Bisnar

Investagrams' JC Bisnar shares his insights on the work culture, key practices, and ecosystem building strategies that have made Alibaba the global leader it is today.

Living spaces for learning

Torre Lorenzo Development Corporation offers premium residences for students The Philippines has always been regarded as one of Asia’s top intellectual centers, attracting students from...

Built for students

Students, particularly children of overseas Filipino workers and affluent households and those from foreign countries, are proving to be an attractive market for residential...

What to look for in a student condo

The college years are a very important chapter that completes one’s academic journey. It is a time when students are being prepared for the...

DoE issues fresh ‘open access’ guidelines

A CIRCULAR of the Department of Energy (DoE) that gives retail electricity users a choice of suppliers has taken effect, prodding the retail competition and open access (RCOA) scheme forward.
tax collector

Senators zero in on poor gov’t spending, revenue leakage

THE SENATE Finance committee on Thursday grilled state economic officials on low disbursement and revenue leakages as the chamber began hearing the proposed P4.1-trillion national budget for 2020.

Philippines targets more markets for its products

THE PHILIPPINES is moving to expand the reach of its products, setting its sights on Africa, South Asia, Central Asia and Eastern Europe, the Department of Trade and Industry said in a statement on Thursday.

Scorsese teams with TV makers to upgrade movies at home

HOLLYWOOD’S biggest filmmakers have struck a deal to make watching movies at home more like they intended — even as they fight to keep the cinemas relevant.

Martin Scorsese’s The Irishman to get 26-day run in theaters before debuting on Netflix

MARTIN SCORSESE’s highly anticipated new mob drama The Irishman may turn into a case of “catch it if you can” as far as traditional moviegoers are concerned.

McDonald’s operator expects sales boost from NXTGEN stores

GOLDEN Arches Development Corp. (GADC) sees sales improving by 5-7% as it continues to modernize existing stores, with more customers getting used to self-order kiosks and cashless payments.

YouTube builds new site for kids after criticism

YOUTUBE said it will launch a separate website for children after the Google-owned service was criticized and investigated for showing inappropriate videos to kids on its main site.
sta. Lucia

SLI to conduct follow-on offering

STA. LUCIA Land, Inc. (SLI) is looking to raise up to P8.40 billion from a follow-on offering within the year to finance its capital expenditures.

More women get to throw tomatoes as movie-critic website diversifies

SHANNON MCGREW admits she’s had it a little easier than other women establishing her chops as an online film critic.

ABS-CBN starts rollout of TVplus Go units nationwide

ABS-CBN Corp. is now starting the nationwide rollout of the mobile version of TVplus boxes.

Filipinos starting to go cashless — Visa

IN A COUNTRY where cash still remains king, majority of Filipinos are starting to embrace cashless payments, Visa, Inc. said in a report.

Pulp fanfic

FINALLY Quentin Tarantino’s mildly racist, markedly misogynistic, mostly masturbatory Once Upon a Time in Hollywood has hit Filipino screens and if all indications prove correct it will be a major hit. Maybe not as big a hit as Marvel’s Avengers: Endgame (which I didn’t like much either) but I do love the way folks have spun the popularity of Tarantino’s wankfest: as one of the rare non-sequel non-franchise pictures to open to good box office.
PSE

PSE plans to buy back P532 million worth of shares from brokers

THE Philippine Stock Exchange, Inc. (PSE) plans to buy back P532.01 million worth of common shares from broker shareholders until September, in a bid to reduce its broker ownership to less than 20%.

BoJ policy maker sees danger from more easing, in signal of wider rift

KUMAMOTO, Japan — A Bank of Japan (BoJ) board member warned of potential dangers if the central bank’s already massive stimulus is ramped up, a view suggesting there is no consensus on how quickly it should ease policy again to head off the risk of recession.
DoLE

DoLE on track to hit business inspection target in 2019

THE Department of Labor and Employment (DoLE) said it inspected 34,000 establishments during the first half, ahead of the pace to meet its 2019 inspection target of 55,000.

What to see this week

5 films to see on the week of August 30 — September 5, 2019

AirAsia PHL profit surges in Q2

EARNINGS of Philippines AirAsia, Inc. surged in the second quarter as the budget carrier ferried more passengers and increased inflight, duty-free and baggage revenues.

Mnuchin says ultra-long bonds under consideration

TREASURY Secretary Steven Mnuchin said issuing ultra-long US bonds is “under very serious consideration” in the Trump administration, possibly setting up a move that would mark a historic revamp of the $16-trillion Treasuries market.

Tech firm Salarium updates payroll software for larger firms

TECH START-UP Salarium said it launched the latest edition of its software that will ease the payroll preparation process, this time targeting larger companies.

Your Weekend Guide (August 30, 2019)

SOLAIRE Resort and Casino presents MaestroRy, a special, one-night only tribute concert to National Artist for Music Ryan Cayabyab, on Aug. 31, 8 p.m., at The Theatre at Solaire.

Duterte approves SkyJet franchise

PRESIDENT Rodrigo R. Duterte has signed into law a measure granting Magnum Air, Inc., the operator of SkyJet Airlines, a franchise to operate domestic and international flights.

RBAP, TransUnion partner on credit information sharing

RURAL BANKERS Association of the Philippines (RBAP) has partnered with solutions provider TransUnion Philippines for credit information sharing, which is expected to boost financial inclusion among Filipinos and strengthen the banking sector.