Home 2019 September 6

Daily Archives: September 6, 2019 | 9:04 pm

Jose Maria C. Sison

Maoist leaders ordered arrested for 80s murder

A MANILA trial court has ordered the arrest of Communist Party of the Philippines (CPP) founder Jose Maria “Joma” Sison, his wife and 36 other members of the organization for murder.

Duterte calls fired prison chief a ‘good man’

PRESIDENT Rodrigo R. Duterte on Friday said he still believed in his former prison chief, whom he fired early this week over the illegal release of felons convicted of heinous crimes for good conduct.

DoJ to finish hearing sedition complaint vs VP

GOVERNMENT prosecutors are about to finish hearing the sedition complaint against Vice President Maria Leonor G. Robredo and 35 others and will soon submit the case for decision.

CoA probing P20M insurance claims from dead

STATE auditors are investigating about 2,000 claims worth more than P20 million made by supposedly dead members of the Philippine Health Insurance Corp. (PhilHealth) this year.
construction infrastructure

Budget delay’s impact hounds infrastructure spending into July

LATE ENACTMENT of this year’s national budget continued to weigh on infrastructure spending in July, the Budget department reported on Thursday, even as it noted that a month-on-month surge showed “that disbursements are starting to normalize and accelerate in the second half…”

Farmers call for limits to rice imports, hike in NFA buffer stock

A FARMERS’ association pressed the government to regulate rice imports more closely to allow domestic farmers and traders to dispose of their inventory particularly during the current harvest, and called for an increase in the National Food Autority’s buffer stock minimum to support the market.
Department of Finance (DoF)

Price growth seen easing until Oct. before returning to 2% level by yearend

PRICE increases are expected to lose momentum until October before a recovery in headline inflation to around the 2% level in December, according to an economic bulletin issued by the Department of Finance (DoF).

NPC initiates proceedings against 3 online lending firms

THE National Privacy Commission (NPC) has found three online lending firms to have violated the privacy of persons who were allegedly shamed publicly, including maliciously disclosing the private information of borrowers.

Mindanao to export initial 5,000 MT of rice to Papua New Guinea

AN INITIAL 5,000 metric tons (MT) of rice from Mindanao will be shipped to Papua New Guinea following the signing of a memorandum of understanding between farmers’ groups represented by the Mindanao Development Authority (MinDA) and PNG’s Central Province government.

House panel approves P8.2-B Office of the President budget

THE House appropriations committee on Friday approved the P8.201 billion budget of the Office of the President for 2020, taking under six minutes with no interpellation.

Del Monte Pacific recurring earnings post first-quarter turnaround

Del Monte Pacific Ltd. (DMPL) said recurring first-quarter net income attributable to the company’s owners was $4.15 million, reversing losses amounting to $3.73 million a year earlier.

Rizal Bank to sell $300M dollar bonds

RIZAL Commercial Banking Corp. (RCBC) is returning to the US dollar bond market by selling $300 million of five-year unsecured bonds amid strong demand from investors overseas, it said in a statement on Friday.
dollars

Dollar reserves at $85.61B as of August

THE country’s gross international reserves (GIR) rose by $430 million to$85.61 billion as of end-August , the central bank said in a statement on Friday.
peso bills DBM

Peso strengthens on inflation data

THE peso strengthened against the dollar on Friday after slower-than-expected inflation for August and in line with a market rally in major economies.
DBP

DBP to help fund Mindanao power plant

STATE-OWNED Development Bank of the Philippines (DBP) will help fund Liangan Power Corp.’s (LPC) hydroelectric power plant in Mindanao through a P1.1-billion term loan, the lender said in a statement on Friday.

PNB fully acquires thrift bank unit

PHILIPPINE National Bank (PNB) has fully acquired its thrift bank unit to integrate it with its operations, according to a stock exchange filing.
Grace S. Poe-Llamanzares

Senator vows to pursue financial inclusion

SENATOR Grace Poe on Friday vowed to pursue financial literacy and inclusion as head of the banks committee.

Bourse joins global cheer on hopes trade tensions will ease

LOCAL SHARES gained for the third straight day, joining Wall Street and major Asian markets in cheering easing US-China trade tensions, even as Friday’s finish was lower than a week ago.

PHL offers perks to lure start-ups from around the world

LIRON GROSS moved to the Philippines with her family in 2017 to start Payo, a start-up e-commerce payment solution. She saw a good potential from...

FDI pledges double in first half

COMMITTED foreign direct investments (FDI) grew by more than half annually in the three months to June, helping foreign pledges double last semester.

Labor force survey (July 2019)

LATEST labor data show the ranks of jobless Filipinos increased in July, but at the same time, the number of employed Filipinos wanting more work dropped to an all-time low, the Philippine Statistics Authority (PSA) reported yesterday

More Filipinos unemployed but job quality better in July

LATEST labor data show the ranks of jobless Filipinos increased in July, but at the same time, the number of employed Filipinos wanting more work dropped to an all-time low, the Philippine Statistics Authority (PSA) reported yesterday.
rice grocery

Overall price increase in August slowest in 3 years

INFLATION clocked in at its slowest pace in three years in August amid a softer increase in food prices, particularly rice, the Philippine Statistics Authority (PSA) reported on Thursday.

More economic reforms bag 2nd reading House OK

MORE ECONOMIC REFORMS have gained ground in the House of Representatives, with the measure removing restrictions on foreigners from practicing their professions in the Philippines and another simplifying taxes on financial instruments both bagging second-reading approval last Wednesday evening.

PSA: Manufacturing declines for eighth straight month in July

FACTORY OUTPUT once again declined in July, extending its contracting streak to eight straight months, the government reported on Thursday.

Hello, Love, Goodbye is now highest grossing PHL film ever

HELLO, LOVE, GOODBYE is now the highest-grossing Filipino film of all time after breaching the P880 million box office mark after more than a month in local and international cinemas.


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Horror film replaces dropped (K)Ampon in MMFF lineup

THE Metro Manila Film Festival Executive Committee (MMFF Execom) has announced that Carlo Ledesma’s film Sunod will replace Kris Aquino’s comeback film (K)Ampon which was disqualified for making a casting change beyond the prescribed deadline.

PHL hospitals remain vulnerable to cyber attacks

YANGON, Myanmar — Medical facilities in the Philippines will continue experiencing high rates of cyber attacks, with seven out of 10 medical machines compromised this year, according to data from cybersecurity firm Kaspersky.

RLC to develop 2 condominiums in Bridgetowne

ROBINSONS Land Corp. (RLC) is developing two residential condominiums that will add about 2,000 residential units to its first township project called Bridgetowne in the cities of Quezon and Pasig.

Hidden figures no more: women shining in Hollywood

LOS ANGELES — Women enjoyed a banner year in Hollywood movies and on television over the past year, notching up record highs in lead roles and gaining ground in influential jobs behind the scenes such as directors and writers, according to two studies published on Wednesday.

Tighter disclosure rules for state-owned enterprises pushed

STATE-OWNED enterprises (SOEs) in Asia were found to comply with looser disclosure rules when compared to listed companies, prompting the need for the issuance of tighter regulations and stricter implementation of existing guidelines in each country.

Ariana Grande sues Forever 21 for $10-Million look-alike ad campaign

POPULAR SINGER Ariana Grande has sued Forever 21 for $10 million, accusing the fashion retailer and a beauty company started by its billionaire founders’ daughters of piggybacking off her fame and influence to sell their wares.

Labor deal readied with Canada’s Yukon territory

THE Department of Labor and Employment (DoLE) has signed an initial agreement with Canada’s Yukon government for skilled workers to be deployed to the western Canadian territory.

Megaworld keeps top credit rating for fixed-rate bonds

PHILIPPINE Rating Services Corp. (PhilRatings) retained the highest rating for Megaworld Corp.’s P12-billion fixed-rate bonds issued in 2017.

Japanese jobs for South Korean graduates dry up amid trade row

SEOUL -- Song Min-su, a Japanese major in his final year at Hannam University, south of Seoul, has watched in dismay as a spat between South Korea and Japan over wartime forced labor has spiraled into a damaging political and economic row.

Chopra, Jonas named People’s best dressed

ACTRESS Priyanka Chopra and her pop star husband Nick Jonas — seen here during the 91st Academy Awards’ Vanity Fair party on Feb. 24 — were named the best dressed of 2019 by People magazine on Wednesday, marking the first time in the celebrity magazine’s history that a couple has shared top style honors.
Bank Vault

Large banks to show ‘greater resilience’ to risks

THE COUNTRY’S biggest banks will show “greater resilience” despite changing operating conditions compared to their mid-sized peers, Fitch Ratings, Inc. said in a report on Thursday.
PCC logo

PCC monitors impact of safeguard duty on cement

THE Philippine Competition Commission (PCC) is monitoring the impact of the safeguard duty imposed on imported cement on the prices of consumer products, its top official said.

IPO hopeful WeWork adds woman to board, CEO returns $5.9 M

NEW YORK -- WeWork owner of The We Company took some steps on Wednesday to burnish its appeal to investors ahead of its initial public offering by adding a woman, Frances Frei, to its all-male board and announcing that its CEO would return a $5.9 million payment for use of the trademarked word “We.”

Presumed innocent

DON’T LET the rather innocuous-sounding title of Arden Rod Condez’s debut feature John Denver Trending fool you: this is a harrowing film, a horror film, entirely plausible yet nightmarish in feel.
PSBank

PSBank to hike authorized capital stock to P6 billion

PHILIPPINE Savings Bank (PSBank) is looking to raise its authorized capital stock to P6 billion in a bid to strengthen its capital structure and provide the lender flexibility.

Pru Life partners with SLMC on critical claims processing

PRU LIFE UK has partnered with St. Luke’s Medical Center (SLMC) to improve the processing of critical illness claims of its policy owners.

Uniqlo to open store in SM City Olongapo

JAPANESE apparel retailer Uniqlo is opening its first large store in Central Luzon next week.

Saudi’s Rumayyan takes control of Aramco IPO steering committee

DUBAI/RIYADH -- The head of Saudi Arabia’s sovereign wealth fund was made head of an executive committee overseeing plans to float shares in Saudi Aramco before he was named new chairman of the state oil giant this week, five sources familiar with the matter said.

What to see this week

4 films to see on the week of September 6 — September 12, 2019