Home 2019 November 6

Daily Archives: November 6, 2019 | 10:29 pm

Expanded list of flagship infra projects approved

THE REVISED list of 100 flagship infrastructure projects was approved by the Investment Coordination Committee-Cabinet Committee (ICC-CC) and the Cabinet-level Committee on Infrastructure (INFRACOM) yesterday, expanding the list to include private sector-initiated projects while dropping some works due to lack of feasibility.

Senate panel to call inquiry on nuclear power plans this month

THE Senate Energy Committee is set to begin an inquiry into the Department of Energy’s (DoE) plan to advance the nuclear power agenda in the Philippines.

MWSS annual audits of water firms start today

THE Metropolitan Waterworks and Sewerage System’s (MWSS) regulatory office (RO) has tapped an audit firm to look into the financial performance of Metro Manila’s two water concessionaires, the state agency said on Wednesday.
Asian Development Bank (ADB)

Technology touted as key tool for achieving financial inclusivity

DIGITAL technology as well as collaboration between regulators and the private sector will further expand financial inclusion in Asia and the Pacific, including the Philippines, experts said at a forum yesterday.

Zoning plan for pork shipments due end-2019

THE Department of Agriculture will implement by the end of the year its National Zoning Plan governing the movement of pork products, amid resistance from some local governments to shipments of such items from areas affected by African Swine Fever (ASF).
construction infrastructure

S. Korean firms seen eager to invest in PHL infrastructure

SOUTH KOREAN companies are looking to invest in the “Build, Build, Build” program to help address the country’s infrastructure constraints, Seoul’s Ambassador to the Philippines Han Dong-Man said at an investment forum Wednesday.

Japan to back regional master plan for Subic area

JAPAN will provide technical assistance in drafting a master plan for regional development centering on Subic Bay Freeport, according to the Department of Finance (DoF).

Legal claims against shipping firms hindering seafarer hiring

THE maritime industry said the government is failing to protect seafarers from “ambulance-chasing” lawyers pursuing claims against shipping companies, who tend to keep the bulk of any settlements won.

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New guidelines for tax exemption of non-stock non-profits

It is the activities of a non-stock, nonprofit corporation that entitle it to a tax exemption.

Tigers oust Tamaraws

THE University of Santo Tomas Growling Tigers advanced to the next flight of the step-ladder semifinals of UAAP Season 82 after surviving the Far Eastern University Tamaraws, 81-71, in their knockout match on Wednesday at the Smart Araneta Coliseum.

LeBron’s triple-double rallies Lakers past Bulls

CHICAGO -- LeBron James registered a triple-double with 30 points, 10 rebounds and 11 assists, and the Los Angeles Lakers stormed back from an 19-point second-half deficit for a 118-112 win over the host Chicago Bulls on Tuesday night.

San Miguel stops bleeding, defeats Blackwater in OT

THE San Miguel Beermen are back on the winning track in the Philippine Basketball Association Governors’ Cup after defeating the Blackwater Elite, 99-96, in overtime in league action on Wednesday at the Cuneta Astrodome in Pasay City.

Dakak Golf Club ready for the world in 2020

THE most unique golf course in the world will be fully operational in the first quarter of 2020. This was revealed by Dakak Golf Club president Rick Gibson after numerous inquiries from interested clubs and tournament organizers.

Donaire vs Inoue in Japan

FILIPINO BOXING champion Nonito “The Filipino Flash” Donaire, Jr. returns to the ring today to take on hometown bet Naoya “The Monster” Inoue in a high-stakes clash in Japan.

Citi shores up support for Paralympic movement

FURTHER underscoring its commitment to championing inclusion in sports, and society in general, Citi Philippines recently unveiled a marketing campaign supporting the country’s para-athletes seeing action in next year’s ASEAN Para Games happening here.

Next generation

Jeffery Xiong is one of the new heroes of American chess. In September 2015, at the age of 14, he was awarded the title of International Grandmaster by the World Chess Federation (FIDE). He followed this up by winning the US Junior Championship the following year. In September, Xiong played in the FIDE World Cup. Although he was seeded no. 31st he made it to the quarter-finals (final 8) by upsetting Anish Giri and Jan-Krzysztof Duda.

Lakers’ reserves

For a while there, the Bulls looked like legitimate contenders. Despite sporting anemic advanced numbers and claiming just two victories through seven games to start the season, they managed to outperform the vaunted Lakers for much -- make that most -- of the first three quarters of yesterday’s match. Playing inspired ball from opening tip, they had the overflow crowd at the United Center engaged and primed for an upset. They were making shots and, more importantly, acting like ungracious hosts to keep the visitors, and especially hometown hero Anthony Davis, at bay.

Stocks sink on cautiousness ahead of GDP data

LOCAL SHARES took a nosedive on Wednesday as investors went on a selling spree ahead of the announcement of third-quarter gross domestic product (GDP) data on Thursday.
1000 peso bills

Peso weakens against the dollar on US non-manufacturing data

THE PESO weakened against the dollar on Wednesday following its rally amid better-than-expected US data reported late Tuesday.

I was asked to dance

“Diversity is being invited to the party. Inclusion is being asked to dance.” I first heard this tagline during our company’s Diversity and Inclusion (D&I) campaign. I am blessed to be a part of an organization that highly values respect for people. As a matter of fact, respect for people is one of our company’s core values and I am proud to share that respect has been embedded in our culture. My first-hand experience of “being invited to the party” was when I was nominated to be a part of a project composed of mostly Western and Middle Eastern employees. I knew I was “asked to dance” when I was given the role to lead a critical part of the project. I felt included and valued throughout the project and even after its completion as I knew that my inputs were appreciated.

Inflation and electricity prices

The good news about Philippines inflation is that we have declining rates, only 0.9% in September and 0.8% in October 2019. The bad news is that after being the inflation valedictorian in 2018, taking the gold medal at 5.2% (silver was Vietnam, bronze Indonesia), the country still has the third highest inflation rate year to date (ytd), January to September/October 2019.

Covering tycoons in media

TV interviews of businessmen used to be drab. The set was dull, a gray background with the program title: None of your Business. Only the red necktie of the interviewee splashed color to the scene. The two talking heads cover such topics as GDP, fire insurance options, talent retention programs, and the cost of lost productivity from traffic, given various assumptions -- Are you riding in an ambulance?

Will Christine Lagarde do ‘whatever it takes’ to save the Earth?

FOR THE past decade, politicians in the rich world have relied too much on central banks to solve their problems of weak growth and high unemployment. They may be about to do the same with climate change.

Inequality isn’t always a bad thing

IN RECENT DECADES, economic inequality in the US and other developed nations has hit levels not seen since the 1920s. Such inequality exacerbates social problems, amplifying health issues among the poor, reducing economic mobility and weakening democracy, research tells us. Inequality even eats away at basic human cooperation, undermining the trust that supports social life.

VP agrees to head Duterte’s anti-drug campaign

VICE-PRESIDENT Maria Leonor G. Robredo on Wednesday said she had agreed to head the Duterte administration’s anti-illegal drug campaign, if only to stop the killings.

Fourth polio case confirmed by DoH

THE Health department yesterday confirmed a fourth case of polio in the country — the third one from Mindanao — after almost two decades of being free from the disease.
Bureau of Immigration (BI) logo

PHL to resume stamping of Chinese passports with 9-dash line claim

THE BUREAU of Immigration on Wednesday announced it will resume stamping on regular e-passports of nationals from the People’s Republic of China.

Storm Quiel hovers over western Luzon, rains seen until Friday

TROPICAL STORM Quiel (international name: Nakri) is hovering over the western side of Luzon, and is expected to maintain its almost stationary condition until Thursday morning, weather bureau PAGASA said in its Nov. 6 update.

Guimaras targets 100,000 tourists in year-long campaign after boat accidents

THE DEPARTMENT of Tourism-Western Visayas (DoT-6) has launched a new campaign to bring in at least 100,000 visitors to Guimaras Island, which suffered a major setback following the boat accidents in August.

Army thwarts suicide bombing attempt in Jolo

SOLDIERS IN the southern Philippines foiled what the army said on Wednesday was an attempted suicide bombing in an urban area, the latest in a series of attacks blamed on a group aligned with Islamic State.

Over 230,000 people affected, 10,000 houses totally destroyed in Mindanao earthquakes

THE RUNNING count of people affected by the series of earthquakes in central Mindanao last month has reached 231,250, more than half of them in Makilala town in Cotabato, based on the latest update from the national disaster management agency. Of the total, 36,183 are staying in 32 evacuation centers. Aside from Makilala, the other affected areas are: Cotabato’s capital Kidapawan City and five other towns; Malita and Santa Maria in Davao Occidental; and Davao del Sur’s capital Digos City and eight towns. On infrastructure, 26 schools have been totally destroyed while 1,050 are partially damaged. Houses account for the biggest hit with 10,862 totally damaged and 22,287 partial.

Fintech startup PearlPay signs new deal to digitalize rural banks in Pangasinan

Earlier today, fintech startup PearlPay formally entered a strategic partnership with the Association of Pangasinan Rural Banks (APRUB) to help facilitate the digital transformation...

How to find the right talent for your tech startup

Chief Strategist for Full Suite Maggie Po explains where to look to find the best talent for their startups.

Breaking the contractual work cycle and empowering partners in the sharing economy

Dennis Ng, founder of on-demand logistic startup Mober, explains how we’ve fallen short on the decentralizing promise of the sharing economy, and how he’s trying to change that by empowering partner-drivers to not just be employees, but independent entrepreneurs.

VP Robredo named co-chair of drug committee

VICE PRESIDENT Maria Leonor G. Robredo has been appointed by President Rodrigo R. Duterte as co-chair of the inter-agency committee handling his drug war.

Oct. inflation slowest in 3-1/2 years

THE OVERALL rise in prices of widely used goods eased for the fifth straight month to its slowest pace in nearly three-and-a-half years in October, the Philippine Statistics Authority (PSA) reported on Tuesday, citing year-on-year drops for the heavily weighted food and non-alcoholic beverages, transportation and utilities.

Headline inflation rates in the Philippines (October 2019)

THE OVERALL rise in prices of widely used goods eased for the fifth straight month to its slowest pace in nearly three-and-a-half years in...
assembly line factory

Factory output decline persists

FACTORY OUTPUT in the country extended its declining streak to the 10th straight month in September, the government reported on Tuesday.
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PHL fails in ‘control of corruption,’ but passes more than half of MCC indicators

THE PHILIPPINES failed in nearly half of indicators tracked by a US foreign assistance agency, with the country’s failure particularly in “control of corruption” putting at risk its chances of becoming eligible for grants under this program next year.

Ayala Land books higher profit

AYALA LAND, Inc. (ALI) reported a 12% growth in its earnings during the first nine months on the back of the robust growth of its real estate business.

PLDT Global, IRemit partner on payment app

PLDT GLOBAL Corp. (PGC) has partnered with remittance firm I-Remit, Inc. to offer its mobile phone app payment service to Filipino expatriates in Hong Kong, Singapore, Australia, Canada, United Kingdom, and Italy, among others.

Shrinking refining margins pull down Petron’s income

PETRON CORP. posted a 70% fall in its net income as of September to P3.6 billion largely because of its shrinking refining margins, the company told the stock exchange on Tuesday.

Need art for your living room? Go shopping online.

THE EXPRESSIVE eyes of the portrait of an Aeta woman carrying a monitor lizard inspire the viewer to take a closer look at the painting. Ryan D. Orig, the painter, said that the image was inspired by an Aeta woman whom he recalled would pass by his family’s house in the province when he was a child. Aeta Girl with Bayawak is one of five portraits of indigenous people by Mr. Orig which are on view and for sale through the “online art marketplace” at FilipinoArt.ph (https://www.filipinoart.ph/).

ACEI transfers right to buy stake in Batangas project to local unit

AC ENERGY, Inc. (ACEI), the Ayalas’ energy investment arm, has transferred its right to buy the 20% stake of its partner in a coal-fired power plant in Batangas to its unit handling Philippine operations.

PETA combats the stigma of HIV/AIDS through art

THE Philippine Educational Theater Association (PETA) is closing its 52nd season with the Acting on HIV campaign.