Home 2019 August 15

Daily Archives: August 15, 2019 | 9:13 pm

Holcim expects sustained growth in Mindanao cement demand

DAVAO CITY -- Holcim Philippines, Inc., which has just completed the expansion of its plant here, is preparing to start similar improvements in its Lugait Cement Plant in Misamis Oriental as it expects continued growth in Mindanao demand.

Sugar funding to follow the law, but reform needed to curb underspending — Villar

SENATOR Cynthia A. Villar said the funds set aside for sugar industry development have been poorly utilized, but added she still backs a budget of P2 billion for 2020.

Iloilo City taps PPP Center to assist in three projects

ILOILO City has signed an agreement with the Public-Private Partnership (PPP) Center for assistance in three projects that it plans to offer as PPPs.

Saudi, Trump ‘jawboning’ suggests $75 top for oil

LONDON -- Ask Saudi Arabia about its preferred oil price and the kingdom will say it has no target.

Banana exporters to meet with DA’s Dar to discuss industry dev’t plan

DAVAO CITY -- The Pilipino Banana Growers and Exporters Association, Inc. (PBGEA) is meeting next week with new Agriculture Secretary William D. Dar, to discuss the implementation of the Banana Industry Development Road Map.
fishing boats davao gulf

Commercial fisheries, aquaculture output fall

COMMERCIAL fisheries and aquaculture output fell in the second quarter, the Philippine Statistics Authority (PSA) said.

EU imposes duties of up to 18% on Indonesian biodiesel

BRUSSELS -- The European Commission on Tuesday imposed countervailing duties of 8% to 18% on imports of subsidized biodiesel from Indonesia, saying the move aimed to restore a level playing field for European Union producers.

The politics of hate

Every tyranny has used fear and hate to take power and to keep it. Coercion and the use of force have never been enough. A gun can only kill, but fear can make entire nations tremble, and hate lead them into committing the worst of crimes.

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A legal education at cross purposes

Just guessing: there are probably between 16,000 to 20,000 students that annually want to enter law school. That’s before the PhilSat (Philippine Law School Admission Test). The PhilSat in 2018 cut that down to roughly 10,000 to 12,000.

A matter of perception

One’s perspective and attitude determines the way things appear. A glass of water is either half-full or half-empty. The donut is a pastry with a hole. The pessimist looks at the hole instead of the whole sweet treat. On another level, a persistent problem could be a situation -- according to the optimist. It can be solved. It’s matter of perception.

Checking lifestyle for unexplained wealth

IN ECONOMICS, one can look at any issue from either the demand or supply side. In case of unexplained wealth, for example, one way to check its existence is to see how it is spent. Lifestyle checks are premised on a simple assumption. A person, especially in public service, is expected to live within his known legitimate income which includes his monthly salary, net of taxes and the practice of some other profession, like boxing, property development, and TV hosting.

PSE index slips as US Treasury yields decline

LOCAL EQUITIES slipped Thursday as fears of a recession in the United States plagued sentiment both locally and overseas.
peso bills DBM

Peso weakens on recession fears as US Treasury yield curve inverts

THE PESO depreciated on Thursday as fears of a global recession gripped financial markets following the inversion of the US Treasury yield curve.

San Miguel Beermen seek to close out TNT KaTropa

NOW UP 3-2 in their best-of-seven Philippine Basketball Association Commissioner’s Cup final series, the San Miguel Beermen go for the jugular and close out the TNT KaTropa in Game Six today at the Smart Araneta Coliseum.

San Beda, Saint Benilde out to keep streaks alive

LEAGUE-leaders San Beda Red Lions and College of Saint Benilde Blazers go for their sixth straight victory in National Collegiate Athletic Association Season 95 when they return to action today against separate opponents at the FilOil Flying V Centre in San Juan City.

Go For Gold rolls out partnership with Fiba in World Cup 2019

GO FOR GOLD has taken a bold initiative to create overwhelming enthusiasm among Filipino basketball fans in the coming Fiba World Cup 2019.

12 teams compete in PVL Collegiate Conference

THE PREMIER VOLLEYBALL League’s (PVL) Season 3 Collegiate Conference is set to open this Saturday (Aug. 17) featuring 12 of the best collegiate teams led by UAAP Season 81 Women’s Volleyball champions, the Ateneo De Manila University (ADMU) Lady Eagles, and the NCAA three-peat queens, the Arellano University (AU) Lady Chiefs.

Warriors’ forward Draymond Green dismisses doubters

LOS ANGELES -- Forward Draymond Green, who recently agreed to a $100 million contract extension to stay with the Golden State Warriors, took exception Wednesday to anyone who thinks the former world champions will struggle to compete in 2019-20.

Balinas Jr. Memorial Chess tourney

INTERNATIONAL Master Ricardo “Ricky” De Guzman will be the man to beat in the qualifying round of the Grandmaster Rosendo Balinas Jr. Memorial Chess Tournament on August 17 at the Activity Hall of Alphaland Makati Place.

Pujols passes Beltre in Angels’ win

LOS ANGELES -- Albert Pujols drove in three runs, and left-hander Dillon Peters pitched six solid innings to help the Los Angeles Angels post a 7-4 victory over the Pittsburgh Pirates on Wednesday in the finale of a three-game series in Anaheim, Calif.

Liverpool win Super Cup

ISTANBUL -- Champions League winners Liverpool won the Super Cup 5-4 on penalties against Chelsea on Wednesday after the game ended 2-2 following extra-time.

Staying fit

Tiger Woods didn’t exactly have a good start to his pro-am appearance at the BMW Championship yesterday. He did his usual pre-round routine, spending some on the range before teeing off, but his relative rust still showed. It was hardly unexpected, to be sure; including last week’s aborted stint at The Northern Trust, he has played just 234 holes since claiming the Masters last April. Nonetheless, it didn’t augur well for the Presidents Cup captain who looked to turn the back half of the FedEx Cup Playoffs into a successful bid for a spot on the team also as a player.
Malacañang Palace

Chinese warships’ entry illegal, Palace says

CHINA is violating international law for the unauthorized entry of its warships into Philippine waters, President Rodrigo R. Duterte’s spokesman said yesterday.

Philippine military looking at security risks of Chinese POGO workers

THE Philippine military is looking at the security risks of Chinese-dominated online gaming operations in the capital, where gambling centers are very near military installations, Defense Secretary Delfin N. Lorenzana told The Chiefs segment on Cignal’s One News Channel.

Bangsamoro may tap Middle East funds

THE new Muslim autonomous region in Mindanao is looking for funding from the Middle East to provide electricity to villages, the Finance department said in a statement yesterday.

Catholic priest denies sedition charges

LINGAYEN, Pangasinan Archbishop Socrates B. Villegas has denied allegations that he is part of a plot to oust President Rodrigo R. Duterte.

NLEX Corp allocates P7.7B for road network to help ease Metro Manila traffic

NLEX CORP. is investing P7.7 billion for road enhancements to help improve traffic in Metro Manila and key cities outside the capital.

Cebu Pacific to start Cebu-Busuanga flights on Oct. 27

LOW-COST CARRIER Cebu Pacific, through its wholly-owned subsidiary Cebgo, will have flights between Cebu and Busuanga in northern Palawan starting Oct. 27.

Davao City cracks down on developers violating zoning, building rules

UP TO 100 developers of commercial and residential projects, mostly small and local companies, may face penalties and sanctions for violations on the zoning and building code, according to City Planning and Development Office (CPDO) head Ivan Chin Cortez.

DoJ says request to suspend Acosta up to Ombudsman

THE REQUEST of public lawyers to suspend Public Attorney’s Office (PAO) chief Persida V. Acosta will be decided on by the Office of the Ombudsman, according to the Department of Justice.

Motorboat economy: People cheer the resumption of services after 3-vessel mishap

WHEN AUTHORITIES lifted the suspension of motorboat operations between Iloilo City and the island province of Guimaras last Tuesday, they cited “passengers” as the main consideration for the decision.

Nation at a Glance — (08/16/19)

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

House committee OK’s corporate tax cut

A SECOND key tax reform -- which slashes corporate income tax rates but also streamlines investors’ perks -- hurdled a committee of the House of Representatives a day after another measure, which raises alcohol products’ excise tax rates, bagged approval from the same body.

Lawmakers to minimize risk of 2020 budget delay

LAWMAKERS of both chambers of Congress are moving to avoid another delay in enactment of the national budget, which has put the government’s economic growth target this year at risk.

Death creeps at door of error-plagued Philippine justice system

IN A FEW DAYS, 49-year-old Jun Allego will walk free after spending more than half of his life in jail.

JG Summit doubles profit in 2nd quarter

JG SUMMIT Holdings, Inc. doubled its earnings in the second quarter as its airline, real estate and banking units registered double-digit growth.

DMCI income falls in 2nd quarter

EARNINGS of DMCI Holdings, Inc. fell by a fifth in the second quarter of 2019, weighed down by lower coal prices and higher replacement power costs.

Vista Land Q2 profit rises 10%

VISTA LAND & Lifescapes, Inc., the property firm led by the country’s richest man Manuel B. Villar, Jr., reported a 10% increase in earnings in the second quarter, thanks to sustained sales of its residential projects and higher leasing revenues.

AGI income up 4% to P8B in 1st half

ALLIANCE Global Group, Inc. (AGI) reported its attributable income rose 4% to P8.1 billion in the first half, driven by double-digit growth in revenues.

Yields on term deposits decline following BSP’s policy rate cut

YIELDS ON term deposits dropped further on Wednesday as demand increased after the policy rate cuts implemented by the central bank last week.

Cebu Pacific pins growth hopes on cargo business

CEBU PACIFIC operator Cebu Air, Inc. is looking to ramp up the expansion of its cargo business, banking on the continued growth of the logistics industry.

Less than 10 banks looking to adjust ATM fees BSP

THE BANGKO SENTRAL ng Pilipinas (BSP) has received “below 10” applications from banks for adjustments of fees for transactions coursed through automated teller machines (ATM) after the moratorium on such tweaks was lifted last month, a senior official said on Wednesday.

ATI to be Lomography’s sole local distributor

IN A BID to develop the local analogue and experimental photography scene, Vienna-based alternative photography company Lomography announced that retail and business solutions firm Altitude Technologies Inc. (ATI) will become the brand’s sole official distributor in the Philippines.

Record cargo volumes push ATI earnings higher

EARNINGS of Asian Terminals, Inc. (ATI) jumped 26% in the second quarter as its Manila and Batangas ports handled record cargo volume.

San Miguel officially awarded P734-billion Bulacan airport project

THE Department of Transportation (DoTr) on Wednesday officially issued the notice of award to San Miguel Holdings Corp. (SMHC) for its P734-billion Bulacan International Airport project.