Home 2019 November 5

Daily Archives: November 5, 2019 | 10:18 pm

National Economic and Development Authority (NEDA)

NEDA presses for sustainability, environmental impact accounting

THE National Economic and Development Authority (NEDA) said it is pressing companies and households to adopt a sustainable approach to consumption and production, in part by better accounting for environmental and social costs of their actions.
wine spirits

Senate to insist on higher excise rates for alcohol, e-cigarettes

THE Senate Ways and Means Committee said it will stand firm on the rates it seeks to impose on alcohol products and electronic cigarettes, which are higher than the proposed rates in the counterpart House legislation, its Chairman said.

Labor dep’t sees need for P500 million to support livelihood assistance for earthquake victims

THE Department of Labor and Employment (DoLE) said it will require P500 million to provide livelihood assistance to workers affected by the Mindanao earthquakes.
taxpayers BIR

BIR app-design contest taking entries until mid-November

THE Bureau of Internal Revenue (BIR) said its contest to design an app simplifying the taxpaying process will continue to take submissions from the public until Nov. 15.
ASEAN flags

ASEAN FDI inflows at record $155B in 2018; PHL fifth

THE Philippines was fifth among regional economies in attracting foreign direct investment (FDI) in 2018, with the region taking in a record $155 billion overall, equivalent to 11.5% of the global total, up from 9.6% in 2017.

POEA warns against overseas recruitment scams on social media

THE Philippine Overseas Employment Administration (POEA) issued a warning Monday against fraudulent online organizations claiming to be the agency and offering non-existent jobs.
container port

Trade tensions, protectionism slow growth in maritime trade — UNCTAD

MARITIME trade growth has slowed due to trade tensions and protectionism, with the Philippines expected to benefit in a minor way from substitution, the United Nations Conference on Trade and Development (UNCTAD) said.

Peso extends climb as inflation eases

THE PESO rallied further on Tuesday as inflation eased to a three-year low in October.

October inflation good news fuels bourse’s climb

THE MAIN INDEX on Tuesday logged its best finish in more than three months on optimism fueled by an official report showing easing October inflation that met market expectations and more good news on the Sino-US trade front.

Changing times for PEZA Locators

Taxes are integral to any economic policy. Investments flow in and out of the economy based on fiscal incentives as much as human capital. For Philippine Economic Zone Authority (PEZA) locators, investors were enticed to invest in the Philippines with tax incentives, such as the Income Tax Holiday (ITH) or 5% Gross Income Taxation (GIT), VAT zero-rated purchases, and duty-free importations. However, with major tax reforms introduced and proposed by the government, PEZA locators are facing a new business paradigm, requiring proactiveness.

The Philippines’ complicity in creating China’s vision of a regional order

Prior to his 5th working visit to Beijing, President Rodrigo Duterte announced that he would push for the immediate adoption of the Code of Conduct (CoC) for the Parties in the South China Sea dispute. He promised that he would press for the early drafting of the agreement to reduce tension and minimize the risk of incidents and miscalculation in the face of concerns about the delay in its drafting, apparently because of China’s delaying tactics.

On being a Filipino in Mexico

For sure it will take more than a day’s visit to truly understand the culture, the nature, and the essence of a nation, but there is something about Mexico and Mexicans that can make a Pinoy feel “at home” upon setting foot on the United States’ southern neighbor.

Bitcoin’s government enemies are planning their revenge

CHINA LOVES the blockchain, and the blockchain loves it back. Despite the People’s Republic having the least free internet in the world, and a ban on cryptocurrency trading, the Communist Party’s endorsement of the technology last month sent Bitcoin prices soaring almost 30% in a few days.

Knights outduel Stags

THE campaign of the Letran Knights in National Collegiate Athletic Association Season 95 is still alive after they outdueled the San Sebastian Stags in their knockout step-ladder semifinal match, 85-80, on Tuesday at the Cuneta Astrodome in Pasay City.

San Miguel Beermen seek to halt two-game losing streak

STRUGGLING-of-late San Miguel Beermen look to put a stop to their funk when they return to Philippine Basketball Association Governors’ Cup action today against the Blackwater Elite.

FEU Tamaraws and UST Growling Tigers get UAAP step-ladder semis going

COMPETITION in Season 82 of the University Athletic Association of the Philippines enters the high-stakes phase beginning today with the step-ladder semifinals.

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NBA extends tie-ups with leading digital service providers, telcos in the country

THE National Basketball Association announced on Tuesday an expansion of existing partnerships with Globe Telecom (Globe), Smart Communications Inc. (Smart) and PLDT, Inc., leading digital services and telecommunications providers, to distribute NBA League Pass, the league’s premium live game subscription service, to their more than 213 million total subscribers nationwide.

Sportswear firm Team Rebel Sports expands to US mart

FILIPINO sportswear company Team Rebel Sports Pilipinas has expanded to the United States market, angling to make available its products to a wider clientele.

Booker, Suns end 76ers’ unbeaten start

LOS ANGELES -- Devin Booker scored a season-high 40 points on Monday (in US), and Ricky Rubio added 21 points and 10 assists as the host Phoenix Suns handed the Philadelphia 76ers their first loss of the season, 114-109.

Dallas Cowboys gallop past New York Giants, stay atop NFC East

NEW YORK -- Dak Prescott threw two of his three touchdown passes in the fourth quarter Monday night as the Dallas Cowboys finally pulled away for a 37-18 win over the New York Giants in East Rutherford, N.J.

Recent trades

The last few weeks have been a busy one in the Philippine Basketball Association for trades with a number of players finding themselves in new homes as the ongoing season hits the homestretch.

Patriots’ first loss

Disappointment was evident in coach Bill Belichick’s words even though they registered in a whisper. In fact, the dismay with which he met the Patriots’ loss the other day was underscored precisely by his soft delivery. “We did a lot of things we need to do better [in],” he told the assembled media. It wasn’t simply that they suffered their first setback in 13 outings spanning parts of two seasons and including Super Bowl LIII. It was how they did so, never mind that they faced the highly regarded Ravens on the road. They looked sluggish and out of sorts from the get-go, and even through a spirited second-half run that briefly made the set-to competitive.

DoLE confirms abduction of 2 Filipino seamen

TWO OF 11 Filipino seafarers who have been reported abducted in two separate incidents in the West African countries of Benin and Togo have been verified, the Department of Labor and Employment (DoLE) reported on Tuesday.

Maguindanao massacre victims’ lawyer hopeful of conviction soon

AS THE 10th year anniversary of the Maguindanao massacre nears, a lawyer representing the families of the victims is hopeful that the principal suspects in the case, members of the Ampatuan political clan, will soon be convicted.

Iloilo students invent devices that can help rural communities

ILOILO CITY — Two groups of high school students from Iloilo have created devices that would be useful to rural communities, and they have made it the global judging round of the National Aeronautics and Space Administration (NASA) Space Apps Challenge.

Tetangco receives recognition from Japanese government

FORMER BANGKO Sentral ng Pilipinas (BSP) governor Armando M. Tetangco Jr. has been recognized by the Japanese government for his role in liberalizing the entry of foreign banks in the Philippines.
Bureau of Immigration (BI) logo

Over 300 illegal Chinese workers deported

MORE THAN 300 undocumented Chinese workers, including seven minors, were deported on Tuesday, the Bureau of Immigration (BI) reported.

Ormoc remembers 1991 flash flood

ORMOC CITY commemorated on Tuesday the Nov. 5, 1991 flash flood, brought about by typhoon Uring (international name: Thelma), where over 8,000 people died, including some 3,000 whose bodies were never found.

Homes, schools damaged by tornado in Marawi City, no casualty reported

TWO HOUSES and seven classrooms were totally destroyed when a tornado struck Marawi City at around 2:10 p.m. on Nov. 4, but no casualties were reported, the local disaster management office said in its rapid damage assessment report released Tuesday.

Cotabato appeals to residents to stop begging for relief goods along highways, says it’s...

COTABATO ACTING Governor Emmylou Talino-Mendoza appealed to residents, whether they have been affected or not by last month’s triple earthquakes, to stop begging for relief goods along the national highway, stressing that both the local government and national agencies have been working 24/7 for the emergency operations.

Mt. Apo trails temporarily closed

ENTRY POINTS to Mt. Apo, the country’s highest peak, from towns in Davao del Sur have been temporarily closed following the three earthquakes that hit parts of south-central Mindanao last month, including the province.

Nation at a Glance — (11/06/19)

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

Guided growth: Google and IdeaSpace team up for the Philippine ecosystem

Google Developers Launchpad and IdeaSpace announce partnership

Meet the 12 new startup graduates of IdeaSpace’s Accelerator Program

“We’ve high hopes for this cohort. They’re more mature,” said Butch Meily, president of IdeaSpace. “In the past we would take prototypes, but we’re no longer doing that. We’re looking for more mature startups that have a business model, revenues, and that are going for the long run.”

House approves bill deferring village polls

THE House of Representatives yesterday approved on third and final reading a proposal to defer village and youth elections from May 2020 to Dec. 2022.

Manufacturing purchasing managers’ index of select ASEAN economies, October (2019)

FACTORY ACTIVITY in the country improved “modestly” — though the latest reading was the best in nine months — in October, with bigger output...

Modest factory improvement marks Oct.

FACTORY ACTIVITY in the country improved “modestly” -- though the latest reading was the best in nine months -- in October, with bigger output and new orders offsetting record-low business expectations, according to findings of the latest Philippine survey conducted by IHS Markit that were released on Monday.

Senate sets target for 2020 budget OK

SENATE plenary deliberation on the proposed P4.1-trillion national budget for 2020 will begin on Nov. 11 as the chamber eyes bicameral approval by the first week of December, Senate leaders said on Monday.
water dripping in faucet

Wawa dam water supply for Metro Manila could face delay — proponent

RAZON-LED Prime Metroline Infrastructure Holdings, Inc. (Prime Infra) warned on Monday that it might not be able to deliver water to Metro Manila as scheduled in 2021 from Wawa dam in Rizal, citing the delay in government approval of the project.

Talks on regional trade pact conclusive — ASEAN chair

BANGKOK -- Asian countries held conclusive talks on what could be the world’s biggest trade pact and there will be an announcement of success at a summit in Bangkok, despite doubts raised by India, the Thai hosts said on Monday.

SM Prime books higher income as residential business expands

SM PRIME Holdings, Inc. posted a double-digit growth in its net income during the third quarter driven by the expansion of its residential business across the country.

AC Energy to acquire PINAI stake in Pagudpud wind farm operator

AC ENERGY Philippines, Inc. is buying the stake of an equity investment fund in their 81-megawatt (MW) wind farm in Pagudpud, Ilocos Norte, the listed company told the stock exchange on Monday.

The Final Pitch focuses on real estate for its 5th season

BUSINESS reality show The Final Pitch launches its 5th season with the theme, “Real Estate and Livable Cities,” a marked departure from its usual theme-less seasons where assorted start-ups pitch their way to a probable investment.

PLDT gets $1M training grant from USTDA

BANGKOK — The US Trade and Development Agency (USTDA) is supporting PLDT, Inc.’s preparations for the rollout of its fifth generation (5G) network by providing the telecommunications giant with a $1-million (around P50.5 million) training grant.

Olivia Newton-John’s Grease outfit sells for $405,700

LOS ANGELES — Olivia Newton-John’s tight black pants and leather jacket from the movie Grease sold for $405,700 at a Beverly Hills auction on Saturday, more than double the expected price, Julien’s Auctions said.