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Daily Archives: September 2, 2019 | 10:54 pm

House leaders move to keep budget on track

SENIOR House legislators intervened to keep the P4.1 trillion 2020 Budget on track after moves to withdraw the budget bill raised the prospect of setbacks to the approval timetable, threatening a repeat of the infighting over the 2019 spending program, which was four months delayed.

Anti-smoking advocates object to proposed Pasig City ordinance regulating ‘vaping’

HEALTH advocates warned against a proposed ordinance in or e-cigarette use, and rejected claims that the tobacco alternatives are safer.

PhilHealth hopes to enroll remaining 2% of population without coverage by 2020

THE Philippine Health Insurance Corp. (PhilHealth) hopes to enroll the remaining 2% of the population in its insurance scheme by the close of the...
river

DoE backs FiT rate extension for small river hydro projects

THE Energy department is supporting the extension of the feed-in tariff (FiT) rate for small hydroelectric power projects until developers have fully taken up all the capacity that the agency has offered for the renewable resource, an official handling the matter said.
BoT treasury

Gov’t debt rises 10.8% at end-July

THE national government’s outstanding debt was P7.804 trillion at the end of July, up 10.8% year on year, according to the Bureau of the Treasury (BTr).

Valenzuela City offers relief for unpaid property tax

THE Valenzuela City government issued an ordinance offering relief for delinquent taxpayers, allowing them to settle property tax owed, including interest, from 2014 to the date of application.

House panel chair opposes 10-year ‘sunset period’ for incentives

REP. JOSE MA. S. SALCEDA, the ways and means committee chair from Albay’s 2nd district, said the Corporate Income Tax and Incentives Reform Act (CITIRA) will be rendered ineffective by the Department of Trade and Industry’s (DTI) proposal to implement a longer transition period for current fiscal incentives.


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Here comes PIFITA

The Passive Income and Financial Intermediary Taxation Act (PIFITA) or House Bill No. 304 hurdled the scrutiny of the House Ways and Means Committee a few days ago. If passed into law, PIFITA will amend certain provisions of the National Internal Revenue Code of 1997 (Tax Code) on the taxation of passive income and income of financial intermediaries. PIFITA will be the fourth package of the government’s comprehensive tax reform program.
PSE

Shares drop as investors pocket gains from rally

LOCAL EQUITIES dropped on the first trading day of September as investors went profit taking amid a lack of catalysts.

Peso weakens as fresh round of US-China tariffs take effect

THE PESO weakened on Monday as the United States and China kicked off a fresh round of tariffs and with the market expecting slower Philippine inflation in August.

The politics of ‘no-war’ options vis-a-vis China

In view of the Chinese maritime militia’s ramming of a Filipino vessel in Recto Bank on June 9, Supreme Court Senior Associate Justice Antonio Carpio proposed a number of “no war” techniques for pursuing the Philippines’ arbitral victory against China. One of the strategies would enjoin us together with Vietnam, Malaysia, Indonesia, and Brunei, to enter into a convention that would collectively voice support for the ruling against China’s dashed lines. Accordingly, this convention will “leave China isolated as the only disputant state claiming EEZs from the Spratly islands.” All but Indonesia have laid a claim in the South China Sea.

The making of a Politician

On the night of July 13, 1966 a jobless merchant seaman, after having consumed several drinks, entered a student nurses’ home in the southeast side of Chicago. Armed with a revolver and a switchblade, he demanded money from the residents. Terrified, the nurses obliged. Drunk, he lingered in the house for an hour. Then he decided to kill the nurses. He led the women in singles or pairs to other rooms where he stabbed or strangled them.

FIRe, Innovation and rising income

Next week, on Sept. 9, the BusinessWorld Industry 4.0 Summit with the theme “Winning Together in the Fourth Industrial Revolution” (FIRe) will be held at the Shangri-La at The Fort, BGC, Taguig City. This big event is a partnership of BusinessWorld, the Department of Information and Communications Technology (DICT), and the Philippine Chamber of Telecommunications Operators (PCTO).

Thought leaders ponder the future of business and why sustainability matters

Tough choices, turbulent world -- these are the challenges that today’s CEOs face. Globalization 4.0 is changing the business equation such that now they have to aim for sustainability with the same vigor they put into pursuing profitability targets. As discontent with the old order continues to escalate because of perceived global imbalance, people are turning to businesses to help solve society’s problems.

Capitalist amnesia enables China’s tough line

HONG KONG -- Capitalist amnesia is encouraging China’s hard line in Hong Kong. Violence in the financial hub worsened over the weekend. A Reuters report, meanwhile, says Beijing last month rejected a compromise with protesters. Investors have ignored ugly crackdowns before; that feeds cynical expectations that harsh measures will be forgiven again.

Season 82 underscores higher level of excellence, sportsmanship in UAAP

SEASON 82 of the University Athletic Association of the Philippines (UAAP) officially rolled out last Sunday with the group underscoring “a higher level of sportsmanship and excellence” for the brand-new year of the high-profile collegiate league.

Djokovic’s US Open title defense derailed by injury

NEW YORK -- Novak Djokovic’s US Open title defense came unstuck on Sunday when a nagging shoulder injury forced the world number one to retire from his fourth-round match against Stan Wawrinka, prompting a chorus of boos from the crowd at Flushing Meadows.

Gilas absorbs second straight loss, falls to Serbia, 126-67

WHILE it fought relatively on a better footing than its tournament debut, Gilas Pilipinas still could not go over the hump and fell to its second straight defeat in the 2019 FIBA Basketball World Cup, losing to world number four Serbia, 126-67, in Group D action on Monday at the Foshan International Sports & Cultural Arena in China.

Saint Benilde’s Gutang is NCAA player of the week

STEPPED UP as the College of Saint Benilde Blazers swung back to winning, sophomore guard Justin Gutang was hailed as National Collegiate Athletic Association player of the week.

Ding wins Sinquefield Cup

Magnus Carlsen and Ding Liren both won two games each and drew nine to tie for first in the 7th Sinquefield Cup tournament held in its headquarters at the Saint Louis Chess Club in Saint Louis, Missouri. According to the rules the tie had to be broken via two-game matches.

Shocker

When the schedule for the United States Open men’s singles draw was released, not a few quarters saw fit to look ahead to a potential Round of Four match between Novak Djokovic and Roger Federer. There was reason for the heightened anticipation, to be sure; they contended for the Wimbledon championship when they last met, and their encounter had to be decided via an unprecedented fifth-set tiebreaker. And with fellow Big Three stalwart Rafael Nadal expected to emerge from the other half of the bracket, a humdinger of a final appeared to be in store.

Duterte told to divulge details of China deals

AN OPPOSITION senator yesterday asked the presidential palace to disclose details of the agreements signed between the Philippines and China during President Rodrigo R. Duterte’s recent visit to Beijing.

Prison chief confirms parole for 3 convicts in rape-slay case

THE HEAD of the country’s prison system yesterday confirmed that three of the seven convicts involved in a 1997 celebrated rape-slay case in Cebu had been granted parole.
gas pump

Oil companies to cut petroleum prices

OIL COMPANIES are cutting the prices of petroleum products for the second straight week on Tuesday, according to separate advisories.

Storm Liwayway strengthens but not expected to make landfall

TROPICAL STORM Liwayway (international name: Lingling) has strengthened with maximum sustained winds of up to 65 kilometers per hour (km/h) near the center and gustiness of up to 80 km/h as of Monday morning, according to weather bureau PAGASA.

2 cops under probe in Balaoan vice-mayor’s murder

THE DEPARTMENT of Justice (DoJ) has started the preliminary investigation into the double murder and multiple counts of frustrated murder complaint against two police officers in connection with the killing of Balaoan, La Union vice-mayor Al-fred O. Concepcion and his bodyguard on Nov. 14, 2018.
Comelec logo

Comelec junks Eusebio’s case vs Sotto

THE COMMISSION on Elections (Comelec) 2nd Division announced on Monday it dismissed former Pasig mayor Robert “Bobby” C. Eusebio’s case against incumbent Mayor Victor Ma. Regis “Vico” N. Sotto, citing no valid grounds in the election protest.

Pasig River rehab agency now chaired by DENR

PRESIDENT RODRIGO R. Duterte has issued an executive order transferring the chairmanship of the Pasig River Rehabilitation Commission (PRRC) to the Department of Environment and Natural Resources from the Department of Budget and Management (DBM).

Cebu City gov’t allocates P300 million to open new roads, improve relocation sites

THE CEBU City Government will spend over P300 million for road openings, lot acquisition, and site developments before the year ends. Jose C. Daluz III, special assistant to the mayor, said the executive department has proposed P150 million for the opening of 10 kilometers of roads, P100 million for site development, and P57 million for lot acquisition — all under the city’s P2.5 billion Supplemental Budget-2.

Permanent tele-hearing facilities to be set up in 3 Davao courts

THREE COURTS in Davao City will be equipped with videoconferencing facilities for the conduct of remote hearings involving persons deprived of liberty (PDLs) as part of the Justice Sector Reform Programme: Governance in Justice (GOJUST) program.

Nationwide round-up

1 New Zealander, 2 Chinese arrested THE NATIONAL Bureau of Investigation (NBI) recently arrested three foreigners, one from New Zealand who is wanted in his...

Nation at a Glance — (09/03/19)

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

Meralco shines bright at the 2019 Quill Awards

Meralco, the Philippines’ largest electricity distribution utility and the only four-time Quill Company of the Year recipient, was once again among the most decorated...

Running your business the Alibaba Way (Panel Q&A)

Steve Sy, Joshua Aragon, JC Bisnar, and Mylene Chua-Magleo share their 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 Mylene Chua-Magleo

Paynamics' Mylene Chua-Magleo shares her insights on the work culture, key practices, and ecosystem building strategies that have made Alibaba the global leader it is today.

Designer of Hong Kong International Airport builds landmark project in Makati

Foster + Partners is known as the architectural firm behind many iconic structures around the world. This group led by renowned British architect Norman...
sari-sari store

Poll bares view of even slower inflation

THE GENERAL INCREASE in prices of goods and services used by average Filipinos is expected to have cooled further last month amid slowing food prices as well as base effects.
Manila International Container Port (MICP)

European businessmen found less keen on PHL FTA

ENTHUSIASM from businesses on a free trade agreement (FTA) between the European Union (EU) and the Philippines has waned since talks have stalled, a new survey said, although many still see the deal as important.
PSE BGC

PSEi may rise to 8,450 by yearend on earnings

THE BENCHMARK Philippine Stock Exchange index (PSEi) may rise to 8,450 by the end of 2019 with corporate earnings expected to grow faster this year and as government ramps up spending in the second half, according to Philequity Management, Inc.

Bill easing requirements for foreign retail investors filed anew in the Senate

THE MEASURE proposing to reduce the required minimum paid-up capital for foreign companies that seek to enter the Philippine retail sector has been filed anew in the Senate.

Industry 4.0 summit slated for Sept. 9

BUSINESSWORLD, in partnership with the Department of Information and Communications Technology (DICT) and the Philippine Chamber of Telecommunications Operators (PCTO), will hold the BusinessWorld Industry 4.0 Summit on Sept. 9 at Shangri-La at the Fort Manila in Taguig City.

Analysts’ August Inflation Rate Estimates

THE GENERAL INCREASE in prices of goods and services used by average Filipinos is expected to have cooled further last month amid slowing food...

Treasury bill rates may decline slightly

TREASURY BILLS (T-bill) on offer today are expected to fetch slightly lower rates following dovish remarks by the central bank.

Victorinox is quintessentially Swiss

SWITZERLAND is known for its stolid reliability and a scientific approach to living. As one of the world’s richest and most successful nations, the...

With rice harvest looming, warehouse space grows scarce

STORAGE IS expected to be a bottleneck for the rice industry during the harvest this month due to significant volumes of stock accumulated from the previous harvest, which traders can only sell at a loss because prices have dropped as a result of stiff competition from cheap imports, industry officials said.