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Daily Archives: August 5, 2019 | 10:43 pm

Piñol blames economic team for collapse in palay prices

OUTGOING Agriculture Secretary Emmanuel F. Piñol’s closing message upon leaving office was to blame economic managers for the collapse in domestic rice prices, due to competition from cheap foreign imports and “hoarding” of the staple grain by price manipulators.

HUDCC warns of impending budget cuts for housing

THE Senate committee on urban housing, planning and resettlement on Monday was warned of underfunding for the agencies that will be folded into the Department of Human Settlements and Urban Development.

SC asked to designate special courts for IPR cases

THE Intellectual Property Office of the Philippines (IPOPHL) said it proposed to the Supreme Court the creation of more courts specializing in commercial matters to handle intellectual property rights (IPR) cases.

Philippines fifth on cyber-attack list

THE Philippines moved up to fifth place from ninth a year earlier in Kaspersky Lab’s global list of countries with most online threats detected in the second quarter of 2019.

Energy efficiency firms call for new law’s IRR to reflect BoI perks

THE energy-efficiency industry is calling for incentives being considered by the Board of Investments (BoI) to be incorporated into the implementing rules and regulations (IRR) of the energy efficiency and conservation law.

Re-filed SoT bill seeks ban on agency-based hiring

HOUSE Legislators on Monday re-filed the Security of Tenure bill which the President vetoed last month, this time seeking a ban on manpower agencies and other third parties that stand between the worker and employer.
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PCC, ERC agree to cooperate to push competition in power sector

THE Philippine Competition Commission (PCC) said Monday that it signed a memorandum of agreement (MoA) with the Energy Regulatory Commission (ERC), thereby completing a “three-way partnership” with the Department of Energy (DoE) in promoting competition and coordinating investigations in the energy sector.
psa rice farmer

Palay farmgate price falls in late July

THE AVERAGE farmgate price of palay, or unmilled rice, fell 0.1% during the third week of July to P17.80 per kilogram (kg), the Philippine Statistics Authority (PSA) said.

Senate panel to seek inquiry into unregistered POGO workers

SENATOR Emmanuel J. Villanueva is drafting a resolution calling for an investigation into Philippine Offshore Gaming Operators (POGOs) and the industry’s failure to remit tax to the Bureau of Internal Revenue (BIR).

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What’s new in BIR registration for employees

More often than not, employees rely solely on their employers to handle matters involving their registration with government offices, such as the Bureau of Internal Revenue (BIR). Unfortunately, employees sometimes find themselves in a situation where they are made to deal with their registration updates on their own rather than their employers doing it for them. This is normally the case when an employee has recently changed employers. If you have not heard the latest updates from the BIR, you are probably bombarding that staff member from Human Resources (HR) now with questions about how you are supposed to update your BIR registration and why it is you, not them, who should handle the update. If your HR team is well versed in the new procedures, lucky you. But what if they are not? You might then have to resort to Googling, hoping to come across a checklist or set of guidelines to refer to. Look no further, because you have just clicked on the right link with the answer to your problem.

Poverty incidence down: Time to celebrate?

The NEDA (National Economic and Development Authority) recently announced that the poverty headcount in the first semester of 2018 reached 21% as compared to 27.6% in the same period of 2015.

Two empires in epic battle

Disappointed at how Speaker Alan Peter Cayetano distributed committee chairmanships among congressmen who supported him in his bid for the Speakership, 30 PDP-Laban congressmen, among them presidential son Paolo Duterte, bolted the party and joined the National Unity Party. But as the new alliance still has to take aggressive action against Speaker Cayetano, I take the lull in political hostilities as an opportunity to turn my attention to an epic battle that is already raging.

We need further FDI liberalization

Foreign direct investment (FDI) is important because the benefits to the destination economy are not limited to capital infusion but also technology transfer, management systems, sources of more production inputs, and extra access to foreign markets. Thus, Japanese FDIs coming to the Philippines not only bring in Japanese capital and technology, but also additional access to Japan and other export markets.

SONAsaan na ba talaga tayo ngayon? At hindi SONAsaan na tayo? — 2

During President Rodrigo R. Duterte’s the State of the Nation Address (SONA) on July 22 he asked: “So where are we (the Philippines) really now today?”

Peso weakens vs dollar

THE PESO edged lower on Monday after China’s central bank devalued its own currency in retaliation against US’ planned additional tit-for-tat tariffs on China this September.

PSEi sinks to 7,800 level on US-China tensions

THE MAIN INDEX plunged to the 7,800 level on Monday, going down with the rest of the region due to escalating trade tensions.

Duterte to discuss sea dispute during China visit

PRESIDENT Rodrigo R. Duterte might discuss the sea dispute with China and a potential oil exploration in the South China Sea when he visits Beijing later this month, his spokesman said yesterday.

Police won’t endorse martial law in Negros

PHILIPPINE POLICE won’t seek martial rule in Negros Oriental despite a series of killings by suspected communist rebels, with peace and order still under control, according to its spokesman.

Ateneo law graduate named SC justice

PRESIDENT Rodrigo R. Duterte has appointed a Court of Appeals (CA) magistrate to the Supreme Court, replacing retired Associate Justice Mariano C. Del Castillo, Malacañang said yesterday.
Silvestre H. Bello III

Manila monitoring HK crisis — Labor chief

THE Philippines is monitoring the unrest in Hong Kong to see whether there’s a need to stop the deployment of Filipino workers there, Labor Secretary Silvestre H. Bello III said yesterday.

Albano refiles bill on medical marijuana

ISABELA REPRESENTATIVE Antonio T. Albano has called for support on legalizing marijuana for medical purposes as he refiled House Bill 279, the Philippine Medical Cannabis Compassionate Act.

Storm Hanna in the northeast intensifies; LPA, monsoon blowing in from the west

TROPICAL STORM Hanna (International name: Lekima) “is expected to intensify into a Severe Tropical Storm within 24 hours,” weather bureau PAGASA said in its 11 a.m. Monday report, but it remains unlikely to make landfall.

CA rules Balanga City smoking ban oversteps Tobacco regulation law

THE COURT of Appeals (CA) has upheld the unconstitutionality of a Balanga City ordinance that expanded the smoking ban coverage in the city’s University Town.

Shooter in road rage incident sentenced to 20-40 years in prison

A MANILA court has convicted and sentenced to 20 to 40 years of imprisonment a man who shot and killed a cyclist in a road rage incident in 2016.

QC court junks Wellmed estafa cases for lack of jurisdiction

A QUEZON City (QC) court has dismissed for lack of jurisdiction the estafa charges against an officer of WellMed Dialysis and Laboratory Center Corp. and two whistle-blowers in connection with the “ghost dialysis” claims.

Mandaue gov’t to review PEZA-registered firms for tax holiday merit

COMPANIES IN Mandaue City registered with the Philippine Economic Zone Authority (PEZA) will be up for inspection to ensure that they have not shifted to other businesses that do not merit tax holidays.

LABCO gets green-light for 1,000-ha banana farm in Lamitan

LAMITAN AGRI-BUSINESS Corp. (LABCO) is set to invest about P1.8 billion for a 1,000-hectare Cavendish banana farm in Lamitan City, Basilan.

Nationwide round-up

THE COMMISSION on Elections (Comelec) has cancelled the nomination of former National Youth Commission chair Ronald Gian Carlo L. Cardema as Party-list Duterte Youth representative.

Nation at a Glance — (08/06/19)

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

NCAA: Blazers test mettle against streaking Knights

JOINT league leaders College of Saint Benilde Blazers stake their unbeaten record against the streaking Letran Knights with National Collegiate Athletic Association Season 95 action resuming today at the FilOil Flying V Arena in San Juan City.

Japan’s ‘Smiling Cinderella’ Shibuno claims stunning Women’s British Open triumph

MILTON KEYNES -- ‘Smiling Cinderella’ Hinako Shibuno completed a fairy-tale week by winning the Women’s British Open in her first LPGA event at Milton Keynes on Sunday.

PBA: Preparing well pays dividends for KaTropa vs Beermen in Game One

THE TNT KATROPA took early control of their best-of-seven Philippine Basketball Association (PBA) Commissioner’s Cup final series over the San Miguel Beermen following their 109-96 victory in Game One on Sunday at the Smart Araneta Coliseum.

NC native Poston wins Wyndham Championship without dropping shot

GREENSBORO, N.C. -- North Carolina native J.T. Poston became the first player in 45 years to win a PGA Tour event without dropping a shot when he beat Webb Simpson by one stroke at the Wyndham Championship on Sunday.

Kyrgios fights off back spasms to win Citi Open title

WASHINGTON -- Nick Kyrgios overcame early back spasms to get the better of Russia’s Daniil Medvedev in a pair of tiebreakers and win the Citi Open in Washington on Sunday.

ONE Championship: Uphill battle for Danny Kingad against ‘Mighty Mouse’ Johnson but windfall is...

BOOKED a spot in ONE Championship’s world flyweight grand prix finals after emerging victorious in the semifinals last Friday of the promotion’s recent Manila event, Filipino fighter the Danny “The King” Kingad channels his attention on his next opponent in American Demetrious “Mighty Mouse” Johnson.

The Paris Grand Chess Tour

The French GM Maxime Vachier-Lagrave (or “MVL”) made full use of his homecourt advantage and won the Paris Rapid/Blitz Tournament, part of the 2019 Grand Chess Tour. Let me clear something up. The tournament I wrote about last week, the Riga Grand Prix, was part of the FIDE Grand Prix which in turn is one of the qualifying events to the world championship.

Sure thing

First things first: The $100-million extension that Draymond Green successfully negotiated with the Warriors represents the maximum-allowable amount he could have received under terms of the National Basketball Association’s collective bargaining agreement. Second things second: The $100-million extension likewise represents a bargain given the options he had. By agreeing to stay signed and keep donning royal blue and California golden yellow until 2024, he limited his earning capacity in favor of security. Clearly, he deems the one in his hand to be superior to the two in the bush.

Hospitality startup RedDoorz raises US$45 million to cement its leadership position in Southeast Asia

RedDoorz, Southeast Asia’s largest and fastest-growing hotel management and booking platform, announced today the successful fundraise of US$45 million in a Series B round....

Spotlight: Vanessa Ocampo a former Parkway patient

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Policy rate cut seen as inflation slows

INFLATION likely slowed further in July as food prices sustained a decline, analysts said in a poll, adding that this would give space for the central bank to resume trimming benchmark interest rates after “a prudent pause” in its June 20 policy review.

GDP impact of budget delay carried over to second quarter — poll

ECONOMISTS expect gross domestic product (GDP) growth in the second quarter to have picked up from the first-quarter expansion, driven primarily by stronger household spending amid slower inflation, but weighed down by residual impact of delayed enactment of the 2019 national budget that was signed in mid-April.
palay rice grains

Q2 farm output expected to have continued near-flat performance

PRODUCTION of the agriculture sector can be expected to have been “slightly positive” at best in the second quarter of 2019, two economists said late last week, citing particularly the impact of subdued rice output that has the biggest contribution to farm performance.

TransCo seeks smaller feed-in tariff rate for 2020

STATE-LED National Transmission Corp. (TransCo) is asking the energy regulator for provisional authority to implement starting January a feed-in tariff allowance (FiT-All) rate of P0.2278 per kilowatt-hour (kWh) for 2020 ahead of the hearing on the merits of its application.

Businessworld Analysts’ Poll

ECONOMISTS expect gross domestic product (GDP) growth in the second quarter to have picked up from the first-quarter expansion, driven primarily by stronger household...

Peugeot ramps up its presence with 3008 Active

I GOT to test Peugeot’s 3008 GT Line early this year and came away very impressed. First, the new 3008 is nothing less than a radical departure from its predecessor. While the previous model was virtuously practical, it had wallflower styling that seemed to appeal more to soccer moms more concerned about child seat mounts and baby stroller-carrying capacity than eye-candy styling.