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Daily Archives: November 4, 2019 | 10:27 pm

Revised flagship program list could grow after NEDA review

THE revised flagship infrastructure program will likely contain more projects after it is reviewed by economic managers when the National Economic and Development Authority’s (NEDA) Investment Coordination Committee (ICC) and Committee on Infrastructure (INFRACOM) meet jointly Wednesday.

Salty food next on tax authorities’ radar

THE Department of Finance (DoF) said it is studying proposals to tax salty food as a health measure, including the practicalities of such a scheme and its possible impact on inflation.

Government outstanding debt rises 10.4% at end-Sept.

THE national government’s outstanding debt was P7.907 trillion at the end of September, up 10.4% year-on-year, the Bureau of the Treasury (BTr) said.
Carlos G. Dominguez III

DoF’s Dominguez sees 2019 GDP at low end of 6-7% target range

FINANCE Secretary Carlos G. Dominguez III said economic growth in 2019 will come in at the lower end of the government’s target range of 6-7%, ahead of the third quarter GDP announcement this week.

Japanese firms present PHL investment plans worth $215M

THE Department of Trade and Industry (DTI) said it heard proposals for potential investments worth $215 million from Japanese companies at the Philippine-Japan Business Investment Forum.
UA&P

UA&P, FMIC see GDP rebound to 6% in 3rd quarter

THE economy is expected to “rebound” in the third quarter, reflecting the boost to consumer spending from increased employment and benign inflation, the University of Asia and the Pacific (UA&P) and the First Metro Investment Corp. (FMIC) said.


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Accounting for and taxation of finance and operating lease

Last week’s article discussed the accounting treatment for a short-term lease and a lease for low-value assets under the new Philippine Financial Reporting Standard (PFRS) 16 and taxation of operating lease as prescribed in Revenue Regulations (RR) No. 19-86 both for the lessee and the lessor. The discussion also tackled how the lessee and the lessor will record in their respective books various transactions related to leases, such as prepaid rentals and security deposits, and the proper reporting of these transactions for income tax purposes.

PSEi returns above 8,000 on earnings optimism

THE MAIN INDEX returned above the 8,000 level on positive corporate earnings reports at home as well as signs of improving US economic and global trade prospects.

Peso rallies on US-China talks

THE PESO CONTINUED to strengthen against the dollar on Monday on the back of optimism on a US-China trade deal.

With masterplan, Davao hopes to avoid pitfalls of rapid urbanization

AN URBAN planner wants to transform Mindanao into the “front door” of the Philippines, beginning with the development of the Davao Region.

The interface of disaster and conflict in the Philippines

Last October, a series of strong earthquakes hit Central Mindanao (Region XI, Region XII and BARMM), killing and injuring people, displacing thousands of residents, and damaging and/or destroying thousands of structures. According to the group Save the Children, more than 3 million school-aged children were affected, with more than 180 classrooms completely destroyed. Kidapawan City, Davao, and Cotabato are among the areas that are reported to have incurred major damage in infrastructure.

A worthy enterprise to save the future

A few days ago, I spotted this interesting piece of news that China has reportedly reassigned over 60,000 soldiers to plant trees in a bid to combat pollution by increasing the country’s forest cover. A large regiment from the People’s Liberation Army, along with some of the nation’s People’s Armed Police, have been withdrawn from their posts on the northern border to work on non-military tasks inland. Most will be dispatched to Hebei province, the area known to be notorious for the smog blanketing Beijing.

Traffic flow: like blood flow

Interestingly, traffic flow is like blood flow.

Bureaucracy control and drug price control

Among the recent good news in the Philippines in terms of improving economic competitiveness is the big jump in its global ranking in the World Bank’s Doing Business (DB) report, from No. 124 in DB 2019 to No. 95 in DB 2020 reports, a jump of 29 notches.

Can blind auditions help women succeed? Yes.

IT’S BECOME a kind of sport to shoot down social science claims, whether it’s the notion that you can ace interviews if you stand like Wonder Woman or charm your next date by reading two pages of Moby Dick before you leave.

NCAA step-ladder semifinals begin

AFTER a break of two weeks, the National Collegiate Athletic Association resumes action with the championship rounds of Season 95, beginning with the first rung of the step-ladder semifinals today at the Cuneta Astrodome in Pasay City.

Butker, Chiefs beat Vikings on last-second field goal

KANSAS CITY -- Harrison Butker booted a 44-yard field goal as time expired Sunday, giving the Kansas City Chiefs a 26-23 victory over the Minnesota Vikings at Kansas City, Mo.

Alaska Aces bringing in the pieces to return to heightened competitiveness in the PBA

LAST WEEK the Alaska Aces was a party to a deal that sent their All-Star guard Chris Banchero to the Magnolia Hotshots Pambansang Manok, a deal that Aces coach Jeffrey Cariaso described as something they had to do in their bid to return to heightened competitiveness in the Philippine Basketball Association.

Strawweight champ Pacio not taking things lightly against veteran Catalan

WHILE pundits and observers have given him the advantage in his latest title defense fight in ONE Championship, still world strawweight champion Joshua “The Passion” Pacio said he is not taking things lightly, especially against a veteran fighter like Rene “The Challenger” Catalan.

James’ triple-double leads surging Lakers past Spurs

LOS ANGELES -- LeBron James produced his second straight triple-double, and Anthony Davis scored 25 points and took 11 rebounds as the visiting Los Angeles Lakers defeated the San Antonio Spurs 103-96 on Sunday to win their fifth straight game.

NCAA board votes to let student athletes endorse brands and accept sponsors

LOS ANGELES -- US college athletes can profit from brand sponsorships and endorsement deals under a new rule approved on Tuesday by the governing board of the NCAA, the organization that regulates US collegiate sports.

The Barry Attack

Have you ever heard of the Barry Attack? White plays 1.d4 Nf6 2.Nf3 g6 3.Nc3 d5 4.Bf4 Bg7 5.e3 0–0 6.Be2 and then attempts to assault the Black king with Ne5 followed by h2-h4-h5.

Jets’ worst setback

Forget about the final score, which wrongly indicates a one-possession outing. Yesterday’s setback was one of the worst in the Jets’ history, period. For all their travails, there can be no excusing their 18-26 loss to the considerably overmatched Dolphins. It didn’t matter that they were on the road, and that they trekked to Hard Rock Stadium mired in a three-game rut while facing injuries to key players. Once the contest was under way, they should have been in position to assert their superiority.

VP seeks more time for memo before SC ruling

VICE President Maria Leonor G. Robredo has asked the Supreme Court to give her more time to file a memorandum on the election protest of former Senator Ferdinand “Bongbong” R. Marcos.

Oil companies cut petroleum product prices

OIL companies are starting the month with a cut in the prices of petroleum products, extending the price cuts they implemented for most of October.
Insurance Commission (IC)

Earthquake victims to be prioritized in their insurance claims

THE Insurance Commission has activated its disaster response mechanism to fast-track claims from earthquake-affected residents of Mindanao.

Senate approves P33.9B rice subsidy

THE Senate yesterday approved on third and final reading a resolution allowing the government to distribute locally produced palay instead of cash to 4.1 million social welfare beneficiaries.

Tax Academy to build main campus at New Clark City

THE PHILIPPINE Tax Academy (PTA) is set to establish its main campus on a 10-hectare lot at the New Clark City in Tarlac, which has already been allotted by the Bases Conversion and Development Authority.

Disrupted lives

A family with children and an elderly member is among those evacuated from the remote barangays of Buhay Buena Vida and Garsica in Makilala during rescue operations conducted by the Bureau of Fire Protection following the 6.5 earthquake on Oct. 31.

MinDA to establish database for rehabilitation plan in earthquake-affected areas

THE MINDANAO Development Authority (MiNDA) is spearheading the gathering of information to establish a database that will be used to make recommendations on the rehabilitation plan in areas affected by the October triple earthquakes in central Mindanao.
Department of Agriculture (DA) logo

Nationwide round-up

THE Department of Agriculture (DA) is now finalizing a nationwide zoning plan that will control the movement of pork products to contain the spread of the African Swine Fever (ASF).

Nation at a Glance — (11/05/19)

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

Growing a budding startup community through bayanihan

Bayanihan, or the spirit of communal unity and collaboration, is a core essence of the Filipino culture. This ancient local custom lives on among Filipinos even in the modern age as they work hand-in-hand to achieve a common, ultimate goal. In a similar way, such kind of spirit is what the local startup community needs — collective action from the government, the academe, and private institutions across the spectrum — to sustain rapid development.

EdTech startup Edukasyon.ph poised for growth after securing Series A funding

Koji Takahashi of EduLab Capital Partners, a new investor in Edukasyon.ph, stated, “We are thrilled to be joining Edukasyon.ph in creating value for the youth and various educators in the Philippines. This marks EduLab Capital Partners’ first investment in the Asia Pacific region, and we are excited to extend our global presence and network to aid successful startups in transforming education through innovation."

Economists see pickup in GDP growth

THE COUNTRY’s economic growth should have recovered in the third quarter on the back of household consumption and improved government spending, according to economists asked by BusinessWorld late last week, but hitting the government’s full-year target will likely still be a challenge.

Poll bares outlook of even slower inflation in Oct.

INFLATION likely slowed further in October as a continued easing of prices of rice and fuel offset any upside pressure from pork substitutes amid the onslaught of African swine fever (ASF), according to a poll of 14 economists conducted late last week.

The secret weapon that has made the peso so strong

SINGAPORE -- The Philippine peso has a secret weapon that has made it one of Asia’s best-performing currencies this year: bumper real yields.

Analyst Estimates

THE COUNTRY’s economic growth should have recovered in the third quarter on the back of household consumption and improved government spending, according to economists...

Max’s maps expansion as mid-income class grows

THE growing middle income class in the Philippines has made it the perfect time for Max’s Group, Inc. (MGI) to expand, and the company is putting all hands on the table to prepare for boodle fight.

Bling it on for Christmas

SANTA’S been meaning to ask if you’ve been naughty or nice, but either way, you get jewelry, and that’s always a good deal.

Cignal TV to offer more digital services to lure young viewers

LOCAL PAY TV provider Cignal TV is planning to offer more digital services to keep its young viewers and protect its market share, its top official said.

Mazda unveils 2020 CX-5

Mazda announced recently the entry of a new variant in the Mazda CX-5 model range as it formally introduced the 2020 model year lineup of its premium five-seat crossover. With the Mazda CX-5 2.0-liter Front-Wheel Drive Sport, customers may now enjoy “all options” specifications previously available only in the CX-5’s two all-wheel drive variants (the 2.5-liter All-Wheel Drive Sport Gas and the 2.2-liter All-Wheel Drive Sport Diesel).

Sparklers for a Christmas list

WE’VE GOT a little over a month before Christmas, so make someone cry tears of joy with collections from some of the best known names in jewelry. Trust me, with just one of these baubles, you’ll get whatever you want this season.

Piracy pulls down ABS-CBN movie revenues

ABS-CBN Corp. lost an estimated P300-400 million in potential movie revenues last year due to piracy, its data protection head told reporters after a forum on Monday.

Honda holds world debut of all-new Jazz

HONDA MOTOR CO., LTD. held last week the world premiere of the all-new Jazz (“Fit” in its home market) at the 46th edition of the bi-annual Tokyo Motor Show at the Tokyo International Convention Center, more popularly known as Big Sight.