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Monthly Archives: November 2019

Ninoy Aquino International Airport (NAIA)

NEDA Board approves tycoons’ NAIA rehab proposal

THE National Economic Development Authority (NEDA) Board on Friday approved an unsolicited proposal from the country’s top tycoons to rehabilitate the Ninoy Aquino International Airport (NAIA), as well as five other infrastructure projects and the revised list of infrastructure flagship projects.

Fruitas rises in stock market debut

SHARES in Fruitas Holdings, Inc. soared as much as 46% in their market debut on Friday, but closed only 1.79% higher amid overall negative market sentiment.

BSP: Inflation likely picks up in November

THE overall rise in prices of widely used goods likely quickened in November, the central bank said on Monday, citing higher electricity and fuel costs.
Alfonso G. Cusi

Energy chief slams NGCP for refusing inspection of control center

ENERGY SECRETARY Alfonso G. Cusi on Friday issued a stronger statement against National Grid Corporation of the Philippines (NGCP), the operator of the country’s transmission system, and the privately owned company’s link to China and the foreign country’s alleged capability to remotely shut down the local power grid.

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Smooth sailing seen for 2020 budget in bicam

THE PROPOSED P4.1-trillion national budget for 2020 is seen to smooth-sail in the bicameral conference committee, according to a senator, citing less contention in the House leadership.

BSP orders banks to be on alert for Ponzi, other illegal investment schemes

AMID THE recent spate of illegal investment schemes that victimize people mainly in cities and towns outside the capital, the Bangko Sentral ng Pilipinas (BSP) has issued a warning to the public against being lured by high returns on their money and asked banks to be on alert for unusual financial activities.

Free tickets to be distributed for SEA Games closing, some sports events

FREE TICKETS will be distributed by the Philippine SEA Games Organizing Committee (PHISGOC) for the event’s closing ceremony on Dec. 11 and for most of the competitions, except the popular sports basketball, volleyball, and football.

Rep. Salceda says 2019 budget extension constitutional

ALBAY REPRESENTATIVE Jose Maria Clemente S. Salceda, chair of the ways and means committee, does not expect a veto on House Bill 5437, which seeks to extend the validity of the 2019 budget.

Infrastructure spending drops in October

INFRASTRUCTURE SPENDING continued to decline in October as the delayed passage of this year’s budget took a toll on disbursements, officials said.

Gov’t debt slips as of October

THE GOVERNMENT’S outstanding debt slipped in October amid a stronger peso, the Bureau of the Treasury (BTr) reported yesterday.

CONFED forwards proposals to address sugar industry challenges

THE CONFEDERATION of Sugar Producers Association, Inc. (CONFED) has sent proposals to government officials to address industry challenges and prevent threats from import liberalization.

Mobile video experience in PHL fair but improving

MOBILE video experience in the Philippines for 2019 was tagged “fair” by a global wireless coverage mapping firm, improving from its “poor” ranking in 2018.

HARI’s 10-month sales fall by 6%

HYUNDAI Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, reported a six percent drop in sales in the first ten months of 2019.

Money supply growth picks up in October on RRR cuts

MONEY SUPPLY expanded at a faster pace in October as the policy easing moves by the Bangko Sentral ng Pilipinas (BSP) were finally felt in the financial market.

PVB books higher Q3 earnings

PHILIPPINE Veterans Bank (PVB) saw “strong” net earnings in the third quarter at P505.6 million, driven by higher loan growth.

Peso weakens as China warns US of action on Hong Kong bill

THE PESO depreciated anew on Friday as China threatened to impose countermeasures after the US passed a bill in support of Hong Kong.

Shares slide as US-China tensions remain

LOCAL shares were down for the second straight day as investors continue to worry on the Sino-US trade talks following US President Donald Trump’s signing of a pro-Hong Kong legislation.

Insurtech is key to fintech’s evolutionary timeline

“Founders would be wise to break-down their respective spaces into a timeline, not a map. What types of businesses must come before theirs in order for their own startup to succeed?”

Majority of SEA Games events now open to the public

Calls to make the events in the about-to-start 30th Southeast Asian Games accessible to more people did not fall on deaf ears as organizers have decided to make majority of the games available for free.

SEA Games organizers say contingency plans in place in the face of incoming typhoon

With the entry in the country of typhoon “Tisoy” coinciding with the early goings of the 30th Southeast Asian Games, organizers have said contingency plans are already in place to assure that the staging of the biennial regional sporting meet will have as little disruption as possible.

Isko Moreno, MultiSys and Bayad Center Gears Up to Make Manila a Smart City

Manila City Mayor Francisco “Isko Moreno” Domagoso seals a tripartite agreement with Multisys Technologies Corporation (MultiSys) and CIS Bayad Center, Inc. (Bayad Center) to...

KPMG R.G. Manabat & Co.: A reliable partner in adapting to digitization

By Adrian Paul B. Conoza, Special Features Writer Digital innovation has been changing a lot of processes, from how people perform daily routines to how businesses...

Ramon F. Garcia & Company, CPAs: Offering unmatched expertise and integrity

By Mark Louis F. Ferrolino, Special Features Writer Ramon F. Garcia & Company, CPAs (RFGCO) has come a long way since its establishment in 1981. From...

How technological disruption is changing the field of auditing

By Bjorn Biel M. Beltran, Special Features Writer For many businesses, technology in the digital age is the great leveler. Across all industries, disruptors from digital...

Fitch Ratings tempers growth forecast

GLOBAL DEBT WATCHER Fitch Ratings, Inc. has cut its economic growth projection for the Philippines this year, making it one of the last outfits to do so in the wake of disappointing gross domestic product (GDP) performance in the past quarters.
traffic bus

Chamber pitches solutions to traffic

THE MANAGEMENT ASSOCIATION of the Philippines (MAP) has recommended readily available solutions to worsening traffic to the Metro Manila Development Authority (MMDA).

Counting SEA Games’ risks and benefits

LOGISTICAL glitches and allegations of corruption threaten to mar the Philippines’ hosting of the biennial Southeast Asian Games this year, which the country is doing for the fourth time in history.

Top 1000 firms on a roll in 2018 despite inflation spoiler

PHILIPPINE COMPANIES continued to record double-digit earnings in 2018 despite last year’s challenges that included the almost runaway inflation that contributed to deceleration of the domestic economy and external risks.

Top 1000 Corporations in the Philippines: Comparison of sectoral performance in 2018

PHILIPPINE COMPANIES continued to record double-digit earnings in 2018 despite last year’s challenges that included the almost runaway inflation that contributed to deceleration of...

With Jagged Little Pill, Alanis Morissette gambles on new anguish

THOSE HIT SONGS with their raw, roiling emotions — from “Ironic” to “You Learn” to “Hand in My Pocket” — still carry some of the spirit of Alanis Morissette in the new Broadway musical Jagged Little Pill.

Fruitas store network hits 1,000

FRUITAS Holdings, Inc. said its store network now exceeds 1,000, as the food and beverage kiosk operator is set to list on the stock exchange on Friday.

Short films, video art the focus of .giff Festival

LOCAL PRODUCTION company Globe Studios is holding a two-day art fair for video art projections and independent short films. It will be held on Nov. 30 and Dec. 1 in three venues in Makati City.

SM Prime to issue up to P20-B bonds

SM PRIME Holdings, Inc. (SMPH) is set to issue up to P20-billion worth of bonds, which were given the highest credit rating by the Philippine Rating Services Corp. (PhilRatings).

The loneliness of a highbrow teenage songwriting robot

MEET YONA. She loves reading Margaret Atwood and articles about teenage life and sings about loneliness and relationships on her newly released track.

Vista Land sets interest rates for retail bond offering

VISTA LAND & Lifescapes, Inc. (VLL) has set the interest rates for the fixed-rate retail bonds worth up to P10 billion that it is set to issue next month.

CA upholds ruling on regular status of GMA Network talents

THE Court of Appeals (CA) affirmed its decision recognizing the regular status of 96 workers classified by GMA Network, Inc. as “talents.” In a two-page...

Actor Henry Cavill coming to Manila for The Witcher launch

NETFLIX has announced that actor Henry Cavill (Mission Impossible Fallout, Man of Steel), who stars as Geralt of Rivia in the upcoming Netflix Original Series The Witcher, is coming to the Philippines in December. Lauren Schmidt Hissrich, the series’ showrunner, will join Cavill to celebrate the launch of this epic adventure series.

Mindanao is now top market for Camella

DAVAO CITY — Mindanao is now the top market and revenue earner of Camella Communities, one of the real property units of Vista Land and Lifescapes, Inc. (VLL), a top official of the brand said Wednesday.

Westpac shareholders call for more heads to roll over money laundering scandal

SYDNEY -- Two of Australia’s top shareholder proxy advisers on Wednesday urged investors to vote out more directors of Westpac Banking Corp after a money-laundering scandal claimed the CEO and chairman of the country’s No.2 retail bank.

Star Wars actor left his script under bed

BRITISH ACTOR John Boyega said on Wednesday that he left his copy of the closely-guarded script for the new Star Wars movie under his bed, and that it ended up for sale on eBay.

McDonald’s signs senior, PWD hiring deal with Pasay City

GOLDEN ARCHES Development Corp. (McDonald’s Philippines) and the Pasay City government signed a Memorandum of Agreement (MoA) allowing senior citizens and persons with disabilities (PWDs) to work in the city’s branches of the fast-food chain.

Vivant unit takes control of solar energy firm

LISTED company Vivant Corp. said on Thursday that its unit in the energy sector had signed a deal to buy out its partner in a joint venture company with projects in solar energy development.

A superhero in a Chanel suit

NOT ALL superheroes wear capes. Some of them wear Chanel suits.

Banks see economic growth at 6-7% within the next two years

THE BANKING INDUSTRY expects the economy to grow by 6-7% in the next two years, aligned with the government’s forecast, according to a survey by the Bangko Sentral ng Pilipinas (BSP).

BMW management and labor reach agreement to cut costs

HAMBURG -- BMW management and labor have reached an agreement on measures to reduce costs that avoids “drastic measures,” the German carmaker said on...