Home 2019 August 12

Daily Archives: August 12, 2019 | 10:13 pm

Subic-Clark cargo rail line construction seen starting in early 2020, DoTr says

THE China-funded Subic-Clark Railway Project is set to begin construction by the first half of 2020, the transportation department said.
anti-endo protest

DTI opposes Labor dep’t role in determining outsourced jobs

TRADE SECRETARY Ramon M. Lopez said he is against proposals to empower the Secretary of Labor to determine which jobs at a company are outsourced, a key feature of the re-filed Security of Tenure bill prepared by the Department of Labor and Employment (DoLE).

Sugar stakeholders seek bigger role in moderating imports

THE Confederation of Sugar Producers (CONFED) is lobbying for a bigger role in moderating sugar imports, saying volumes should be based on projected domestic production shortfalls relative to demand.

Power cooperatives seek new mandate for NEA

ELECTRIC cooperatives are pushing for greater autonomy for the industry by supporting a move to give the National Electrification Administration (NEA) greater budgetary leeway through a proposed law that is backed by some members of the House of Representatives.

CoA cites CAAP failure to submit contract of PAL leases

THE Commission on Audit (CoA) said the Civil Aviation Authority of the Philippines (CAAP) failed to provide supporting documents for payments arising from land rented from Philippine Airlines in Bacolod and Ozamiz.
cigarettes sin tax

Further talks scheduled with China Customs over shipments of cigarette-making machinery

THE DEPARTMENT of Finance (DoF) said it will hold further discussions with Chinese customs officials about shipments of cigarette-making machines to the Philippines, which must be registered but are often used in the illicit production of cigarette products that evade tax.
Court of Tax Appeals-CTA

CTA approves BIR settlement with ABS-CBN unit

THE Court of Tax Appeals (CTA) approved a settlement between ABS-CBN Film Productions, Inc. and the Bureau of Internal Revenue (BIR) regarding the company’s P31-million tax deficiency for 2009.

Tax court denies Maibarara appeal of tax refund ruling

THE Court of Tax Appeals (CTA) denied for lack of merit the motion for reconsideration of Maibarara Geothermal, Inc. over the dismissal of its P81.6 million tax refund claim.


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Royalties, Customs duties and post-clearance audits

The royalties that you pay relating to the goods that you import may be subject to Customs duties as part of the dutiable value of the importation. Have you made this evaluation? Are you paying duties on those dutiable royalties? Is there a risk that this will be uncovered during a customs audit?

Continuities in Philippine foreign and national policies in the maritime sector

Two Interlocking perspectives may be gleaned from the Chinese vessel-ramming of a Filipino boat F/B Gem-Ver that left 22 Filipino fishers abandoned in the waters off Recto Rank on June 9.

Divided by land, connected by sea

I just returned the other day from a trip to India on the invitation of Johnny Chotrani, Chair of the Philippine-India Business Council (PIBC) of which I’m a member. We met with the ASEAN-India Business Council (AIBC), the Federation of Indian Chambers of Commerce Inc. (FICCI), and the Chamber of Indian Industry (CII). The trip had a dual purpose: it included matters pertaining to the Philippine Council for Foreign Relations (PCFR), which I chair, and where Johnny’s a member. I met with Philippihne Ambassador to India Dondon Bagatsing, our Defense Attaché and officials of India’s Ministry of External Affairs (MFA).

What? Jobs of the future beyond AI do not exist yet

About eight years ago, the Research Center for Responsible Consumption and Production based in the Wuppertal Institut asked us to organize a forum on jobs of the future, among other “futuristic” challenges and scenarios. We did not know what jobs there would be because we had just started Industry 4.0 then.

Why is Philippines’ GDP growth decelerating?

The Philippines’ GDP growth over the past 18 years has a beautiful and not-so beautiful story. Accelerating from 2001 to 2015, then decelerating lately: 6.9% in 2016, 6.7% in 2017, 6.2% in 2018, 5.6% in 2019’s 1st quarter (Q1), then 5.5% in Q2.

China clips Cathay’s wings over staff backing Hong Kong protests

AIRLINES are fundamental to the self-image of sovereign territories. The largest one in any country is routinely dubbed a “flag carrier,” as if it was the leader of a naval squadron. No wonder Beijing has it in for Cathay Pacific Airways Ltd.
bell PSE

Recent BSP rate cut seen to provide market lift

LOCAL SHARES may rebound in the days ahead as investors continue to digest the central bank’s most recent interest rate cut.

Peso expected to move sideways as markets look for fresh drivers

THE PESO is seen to move sideways this week amid a lack of fresh leads, with the market to be on the lookout for the latest currency news from China.

House measure to abolish regional wage boards

LEYTE Rep. Martin G. Romualdez has re-filed a bill that seeks to abolish regional wage boards and assign industry-wide wage increases to the National Wages and Productivity Commission (NWPC).

No love lost for divorce in Catholic nation

HANA ANN SANTOS, 30, has been separated for five years. Her husband is now living with another woman and refuses child support. Her only hope for now is to have their marriage annulled, which could take years and cost her as much as P300,000.

Fuel prices drop this week

OIL COMPANIES are rolling back the prices of petroleum products this week, with diesel users seeing a hefty cut of P1.10 per liter (/L).

DILG backs Baguio’s proposed moratorium on high-rise buildings

THE DEPARTMENT of Interior and Local Government (DILG) has expressed support to the Baguio City local government’s proposal to implement a one-year moratorium on the construction of high-rise buildings in the country’s summer capital.

US Strike Group

A JET takes off from the United States’ Ronald Reagan Carrier Strike Group, which recently made a brief port call in Manila.

Guimaras economy reels from Iloilo Strait tragedy

THE ISLAND province of Guimaras, with its white beaches and sweet mangoes, provides the perfect tropical complement to Iloilo City’s urban and cultural tourism attractions.

Seriously ill children of soldiers, poor get help from Duterte

PRESIDENT RODRIGO R. Duterte is ready to help children who have serious illnesses, especially those of soldiers and from poor families, in getting treatment in India, his former special assistant said on Monday.

Dengue cases in Davao Region up 60%; highest in Davao City

DENGUE CASES in the Davao Region increased by about 60% to 4,345 during the first seven months of the year compared with the same period last year, the regional office of the Department of Health reported last week.

Nation at a Glance — (08/13/19)

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

NCAA: Mapua goes for back-to-back victories

HAD THEIR first taste of victory in National Collegiate Athletic Association Season 95 last time around, the Mapua Cardinals go for a second serving when they trek back to the court today against the Emilio Aguinaldo College Generals at the FilOil Flying V Arena in San Juan City.

Reed ends title drought with Northern Trust win

PATRICK REED secured his first victory since last year’s Masters when he beat Mexican Abraham Ancer by one stroke at the Northern Trust in New Jersey on Sunday.

Veteran Castro appreciative of still being recognized at this stage of his career

WHILE HE was quick to say that there is still a lot of good basketball left in him, TNT KaTropa star guard Jayson Castro could not help but be sentimental and appreciative of having his efforts on the court continued to be recognized even as this stage of his highly successful Philippine Basketball Association career.

Tearful Serena retires injured in Toronto final

TORONTO -- Serena Williams’ first US Open tune-up ended in dramatic fashion as the tearful American was forced to retire with a back injury while trailing Canadian teenager Bianca Andreescu, 3-1, in the Rogers Cup final on Sunday.

Kaya back on the winning track after rout of Air Force

CUP CHAMPION Kaya FC-Iloilo swung back to the win column on Sunday after routing Philippine Air Force FC, 5-0, in a Philippines Football League fixture at the Biñan Football Stadium in Laguna.

US teams top Jr. NBA Global Championship in Florida

ORLANDO, FLORIDA -- US Central (girls) and US West (boys) won the 2019 Jr. NBA Global Championship on Sunday at ESPN Wide World of Sports Complex at Walt Disney World Resort. The two Global Championship finals featured US Central defeating Canada 72-35 in the girls division and US West defeating Africa, 70-61, in the boys division.

Hunan International Open

Hunan Belt and Road International Open Hunan, China July 29-Aug. 6, 2019 Final Top Standings 1 GM Surya Shekhar Ganguly IND 2638, 7.0/9 2-3 GM Yu Yangyi CHN 2736,...

Right direction

Heading into the final round, The Northern Trust appeared to be in the news for all the wrong reasons. Headlines were being grabbed by developments off, and not on, the 7,370-yard pride of Liberty National Golf Club in Jersey City, New Jersey. Masters champion Tiger Woods, still golf’s biggest draw, had to withdraw from the tournament prior to the second round due to a “mild oblique strain that led to pain and stiffness;” never mind that, in negotiating his first 18 poorly, he appeared rusty and not injured. At the same time, social media habitues also focused on slow play, and particularly on egregious examples put forth by so-called mad scientist Bryson DeChambeau.
mining

DoF: Mining tax reform still on the table

INCREASING the state’s share in mining revenues is one of the tax reforms targeted by the government for enactment in the next two years, even as President Rodrigo R. Duterte did not mention it in his July 22 State of the Nation Address (SoNA), but it will take a back seat to the other measures, a senior official of the Department of Finance (DoF) said last weekend.
housing condo

SEC eyes release of new REIT rules by September

THE Securities and Exchange Commission (SEC) targets to release the final guidelines for real estate investment trusts (REIT) by September, while remaining optimistic that the first such product will be launched within the year.

Co-ops pressed on P238 million from universal charge

STATE-LED Power Sector Assets and Liabilities Management Corp. (PSALM) has uncovered up to P238.3 million in universal charge (UC) collected from electricity users by electricity cooperatives but not remitted to the agency, which is the fund’s administrator.

Auto Nation Group rolls out all-new Mercedes-Benz GLE

MERCEDES-BENZ Philippines fancies the GLE a “trendsetter” in its portfolio of SUVs, and the latest iteration surely adds to this lore as it is packed with “a suite of intuitive safety systems (and) the most advanced technology.”

Toyota goes on 2nd leg of Hybrid Campus Tour

TO BOOST its efforts in bringing vehicle electrification closer to the public, automotive leader Toyota Motor Philippines (TMP) established a partnership with De La Salle University (DLSU) and staged the second leg of its Hybrid Electric Vehicle (HEV) Campus Tour in the university’s Manila campus.

Honda launches City and Jazz Sport Limited Edition

HONDA HAS launched sporty limited edition variants of the evergreen City and Jazz. This offering aims to satisfy the desire of the Filipino car buyers aspiring to own a sporty and fun-to-drive Honda. Customers may now place their reservations at any of the 38 Honda Cars Dealerships nationwide.
Clark airport

LIPAD to take over Clark airport

THE consortium led by JG Summit Holdings, Inc. and Filinvest Development Corp. (FDC) is preparing to take over the operations and maintenance (O&M) of the Clark International Airport by the end of the week.

Chevrolet’s tips for rainy season driving

THE RAINY SEASON has officially begun. Torrential rain presents unique challenges to drivers that can catch them off-guard, including reduced visibility, slippery surfaces, unseen obstacles and flash floods.

Style across generations

FOR HER 2019 holiday collection, Criselda Lontok showcases her bold colors and designs for the sophisticated woman.

S&P expects strong loan growth

DEBT WATCHER S&P Global Ratings sees Philippine banks’ loan growth at double digits this year as the banking sector and the Asia-Pacific region’s stable outlook is seen steady despite headwinds arising from trade tensions between the world’s two largest economies.

Dito finalizing partnerships as it prepares to launch by Q2

DITO Telecommunity Corp. said it is finalizing deals involving the lease of key infrastructure such as cell towers and data centers, as it prepares to launch by the second quarter of 2020.