Home 2019 August 7

Daily Archives: August 7, 2019 | 10:34 pm

Azkals try to find the right blend heading to qualifiers

THE Philippine national men’s football team knows that it has its work out for in its qualifying bid for the FIFA World Cup in Qatar in 2022 and the AFC Asian Cup in China in 2023 which is why it is leaving no stones unturned in preparing for it.

PLDT-Smart Omega wins The Nationals Mobile Legends: Bang Bang Conference

PLDT-Smart Omega proved to be unstoppable as it emerged as the first champion of Mobile Legends: Bang Bang Conference 1 of The Nationals held at Eastwood City, Libis last Sunday, July 28.

San Miguel levels series with TNT, 1-1

THE San Miguel Beermen pulled even with the TNT KaTropa in their best-of-seven Philippine Basketball Association Commissioner’s Cup finals series after taking Game Two, 127-125, in double overtime on Wednesday at the Smart Araneta Coliseum.

Alcoholic beverage tax to be fast-tracked

ALBAY 2nd District Representative Jose Ma. Clemente S. Salceda committed to approve at committee level next week a bill increasing taxes on alcoholic beverages.
cellphone tower third player NTC

DICT may issue new common tower policy

THE government is considering putting out a new draft policy on telecommunications infrastructure sharing in the next two months, after stakeholders sought firmer guidelines before committing major investments.
gas pump

Senate panel calls for review of oil deregulation

THE Senate energy committee has backed the Energy department’s call for greater transparency in the pricing of petroleum products by proposing a review of the oil deregulation law, after a court blocked the agency’s circular that required oil companies to “unbundle” fuel prices.
BSP

July GIR rises slightly vs June — central bank

GROSS international reserves (GIR) rose in July to $85.183 billion, up slightly from a month earlier and exceeded the central bank’s estimates for the full year.

Labor dep’t to submit new SoT bill draft to Palace this month

LABOR Secretary Silvestre H. Bello III said that the Department of Labor and Employment (DoLE) will be submitting its proposals on the new the Security of Tenure Bill (SoT) later this month to the Palace.

Electric vehicle law expected by year’s end

A LAW regulating the electric vehicle (EV) sector is expected to be ready by the fourth quarter, including provisions outlining how the industry is to be promoted, the chair of Senate energy panel said on Wednesday, pointing out that industry stakeholders are supportive of the proposed legislation.

Property sector, regulators forced to adjust due to rapid POGOs growth

ONLINE GAMING FIRMS are reshaping the property market, and industry officials said it might be time for the economic zone authority to help manage the sector’s growth, based on the agency’s experience overseeing the Business Process Outsourcing (BPO) sector.


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When tax cannot follow accounting

Tax rules are constantly subject to change. Whether covered by new laws or new administrative issuances, these changes are deemed sound policy if they contribute to the efficiency and fairness of our tax system, are uncomplicated to comply with, and ultimately, serve the interest of both the citizenry and the government.
PSE BGC

Stocks rebound ahead of BSP meeting, GDP data

LOCAL EQUITIES bounced back on Wednesday, taking cues from the recovery of world markets as well as the series of economic data to be released on Thursday.
peso remittance

Peso returns to P52:$1 level on lingering US-China trade woes

THE PESO weakened further, returning to the P52-per-dollar level, as markets continued to react to lingering US-China trade tensions.

Court dashes state push to reclaim Marcos wealth

THE COUNTRY’S anti-graft court has rejected for insufficient evidence a 30-year-old government suit seeking to recover P102 billion of alleged ill-gotten wealth of the late dictator Ferdinand E. Marcos, his family and their associates.

Just a little more…

A cursory scan of the popular titles in a bookstore -- The Little Book of Hygge: Danish Secrets to Happy Living, Lagom: The Swedish Art of Balanced Living, Wabi-Sabi: Japanese Wisdom for a Perfectly Imperfect Life, Ikigai: The Japanese Secret to a Long and Happy Life -- and I can’t help but smirk.

High Court lifts TRO on Mamasapano trial

THE COUNTRY’S anti-graft court may now proceed with the trial involving the 2015 deaths of 44 policemen in a botched counter-terrorism raid in the Mindanao region after the Supreme Court lifted an order stopping the proceedings.

Senate body agrees to defer village polls

A SENATE body on Wednesday agreed in principle to defer the May 2020 village and youth council elections, but has yet to decide on the new dates.

Agriculture needs help

Farmers and economists alike see the urgent need to improve the agriculture sector, mainly with the aim of ensuring food security, and one hopes that 66-year-old William Dollente Dar of Santa Maria, Ilocos Sur may just be the man to get the job done. He is no stranger to the Agriculture portfolio, having once served as Secretary of the Department of Agriculture during the Estrada Administration.

Filipinos OK with how 2019 polls turned out

FOUR OF FIVE Filipinos were satisfied with how the 2019 midterm elections — where allies of President Rodrigo R. Duterte dominated the vote that was marred by technical glitches — were conducted, according to a Social Weather Stations (SWS) poll.

How government restricts energy development

In the first week of August this year, I saw seven energy-related stories in BusinessWorld Economy section alone.

Iloilo-Guimaras service

A roll on-roll off vessel of Tri-Star Megalink Corporation arrived at the Lapuz Wharf in Iloilo City early morning on August 7 and started its first trip to Guimaras by 5:30 a.m.

Travel ban ordered vs 2 suspects in Sytin murder

AN OLONGAPO City court has issued a travel ban against two suspects in the killing of businessman Dominic L. Sytin.

Understand needs, co-create solutions

HAVE YOUR efforts at driving positive change been challenged? Have people turned down your offers to grow and evolve even as all your intentions were to their benefits?

Singapore’s ordinary folk spend faster than the rich

SINGAPORE is Asia’s Monte Carlo, a playground of the wealthy. The city-state has two casinos, an annual Formula One race, and the third-highest concentration of ultra-rich individuals after Monaco and Geneva. It’s home not just to the Crazy Rich Asians caricatured in the eponymous movie but also, increasingly, Brazilian and British billionaires.

MMDA to fence in EDSA yellow lanes

THE METROPOLITAN MANILA Development Authority (MMDA) is planning to build a fence along EDSA’s yellow lanes to restrict public buses, a move that is seen to help in decongesting traffic, according to MMDA General Manager Jose Arturo S. Garcia Jr.

Cebu Pacific to assess Mati City flights when airport is ready

BUDGET CARRIER Cebu Pacific is ready to assess the viability of flights to Mati City, the capital of Davao Oriental province, as soon as the development of the airport for commercial operations starts.

Davao City councilor wants sanctions on parents of truant students

A DAVAO City councilor has proposed an ordinance that will penalize parents and guardians of truant students.
GMA

Nationwide round-up

THE DEPARTMENT of Labor and Employment (DoLE) has ordered GMA Network, Inc. to pay a P100,000 per day penalty after investigations showed that the broadcasting company failed to follow occupational safety and health (OSH) standards, which resulted to the death of veteran actor Eddie Garcia.

Nation at a Glance — (08/08/19)

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

Team USA not ‘C’ players, says head coach Popovich

LOS ANGELES -- When Gregg Popovich agreed to take over as head coach of USA Basketball for Mike Krzyzewski, many envisioned names such as Harden, Love, Lillard, and Davis on the backs of the uniforms.

Vince Carter wants to see absent NBA stars play in World Cup but respects...

HAVING had the chance to represent the United States in international basketball competitions, including a memorable one at the 2000 Olympic Games in Sydney, Australia, National Basketball Association veteran star Vince Carter said he would love to see league stars don the national colors for the “Star-Spangled Banner” but understands and respects their decision for declining considering the circumstances they are in.

Lowry thrilled for Leonard, but wants to stay in Toronto

TORONTO -- All-Star point guard Kyle Lowry understands why Kawhi Leonard would leave for the Los Angeles Clippers, but the longtime leader of the Toronto Raptors has no desire to bolt Canada.

The Paris Grand Chess Tour

The Grand Chess Tour is comprised of five rapid/blitz tournaments and two classical (Croatia which took place last June and Sinquefield Cup which starts August 15) events. The twelve full tour participants will play in both classical events as well as in three of the five rapid/blitz tournaments.

Heart and soul

Udonis Haslem has more than 522,000 followers on Instagram, so it’s but typical for him to see his posts draw significant reaction. Still, his latest contribution to the social media app tops the cake. Hitting Cyberspace yesterday, it featured a photograph of the Larry O’Brien Trophy ensconced in his locker-room stall at the AmericanAirlines Arena along with the caption “Too be continued Heat Nation!!!” and hashtags “#og” and “heatlifer.” Netizens pounced on the announcement; in a span of six hours, it drew a whopping 31,000 likes and nearly four figures in comments practically carrying the same message: “Legend.”

Watch nine Filipino female tech founders pitch their startups

Last weekend, nine female founded tech startups competed for a chance to represent the country on the global stage at She Loves Tech 2019,...

Trade deficit narrows to lowest level in fifteen months

The country's trade-in-goods deficit in June shrank to its lowest point in fifteen months as June imports declined by double-digits. Preliminary Philippine Statistics Authority (PSA)...

Headline inflation rates in the Philippines (July 2019)

INFLATION eased further in July, the Philippine Statistics Authority (PSA) reported on Tuesday, lending support to expectations for the central bank to continue loosening...
rice grocery

July inflation slowest in 31 months

INFLATION eased further in July, the Philippine Statistics Authority (PSA) reported on Tuesday, lending support to expectations for the central bank to continue loosening monetary policy.

Manufacturing’s weakness persists

FACTORY OUTPUT in the country extended its declining streak to seven months in June, the government reported on Tuesday.
linemen maintenance

Meralco bills drop for fourth straight month

ELECTRICITY USERS in the National Capital Region and surrounding areas will see lower bills for the fourth straight month, Manila Electric Co. (Meralco) announced on Tuesday.

High court upholds P1.8-B fine for MWSS, concessionaires

THE SUPREME COURT (SC) has upheld fines totaling close to P2 billion on the Metropolitan Waterworks and Sewerage System (MWSS) and concessionaires Manila Water Company, Inc. and Maynilad Water Services, Inc. for violations of an environmental law.

2020 national budget OK’d for submission to Congress

PRESIDENT Rodrigo R. Duterte and his Cabinet approved last Monday the proposed P4.1-trillion national budget for 2020, Malacañang announced on Tuesday, after both chambers of Congress moved to prevent a repeat of last year’s delayed enactment that now weighs on overall economic growth.
Eagle-Cement

Eagle Cement Q2 earnings jump 39% to P1.7B

EARNINGS of Eagle Cement Corp. rose 39% to P1.7 billion in the second quarter of 2019, thanks to higher volumes sold complemented by an increase in selling prices.

Petron earnings plunge 72% in 1st half

PETRON CORP. on Tuesday reported a 72% decline in its first-half net income to P2.6 billion, as sales volume in the Philippines declined due to the implementation of the second tranche of the Tax Reform for Acceleration and Inclusion (TRAIN) Law.

Phoenix raises P3.5B from commercial papers

PHOENIX Petroleum Philippines, Inc. has raised P3.5 billion from the bond market for its short-term funding requirements, allowing it to support immediate business demands, the Davao City-based oil company said on Tuesday.