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Monthly Archives: November 2019

Century Pacific Food launches its own coconut product brand

CENTURY Pacific Food, Inc. (CNPF), maker of Century Tuna and Argentina corned beef, is expanding into coconut products with the introduction of its own brand Coco Mama Fresh Gata.

Your Weekend Guide (November 29, 2019)

RUSTANS.COM has unveiled its online-only Black Friday Cyber Monday deals.

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BPI AMTC launches UITF for US stocks

BPI ASSET Management and Trust Corp. (BPI AMTC) has launched a unit investment trust fund (UITF) that will allow its clients to invest in US stocks without needing a dollar account or exchanging peso to dollars.

Five best ways to reduce product defects

I am the production manager of a medium-sized factory in Laguna. When I assumed the job eight months ago, I was surprised at the high rate of product defects, sometimes as high as 30%. On the average, we settle for a defect rate of about 15%. That means a lot of money for the company in terms of repairing them, if at all possible. If not, they are simply thrown away. When I analyzed the situation, it appears that our workers (more than half are subcontractors) are partly responsible for the problem. I haven’t been able to sleep for weeks trying to think of a solution. I’m not sure if hiring only regular workers would solve the problem. Can I charge the cost of defects to the agency workers? What do you think? -- Deep Blue Sea.

What to see this week

6 films to see on the week of November 29 — December 5, 2019

Malaysia’s AirAsia swings to loss as FX fluctuations bite

KUALA LUMPUR — Malaysia’s flagship budget airline AirAsia Group Bhd flipped to a loss in its third-quarter, hit by foreign exchange losses and a writedown in the value of currency and interest rate swaps.

Asia’s financial landscape

The Asian Bankers Association (ABA) celebrated its 36th annual event last Nov. 14-15 in the Philippines, hosted by Philippine National Bank (PNB), gathering a large group of top bankers and finance executives from 25 countries from Asia and key markets across the globe. ABA provides a forum for advancing the cause of the banking and financial industry in the region by promoting regional economic cooperation. ABA’s membership is composed of 100 of the leading banks and financial institutions in the Asia-Pacific region. With this year’s theme, “Reshaping the Asian Financial Landscape,” the conference tackled the relevant topics of sustainable financing, cyber-security and digitalization. The speakers were experts who shared their experiences and knowledge in the current trends of banking. Attendees discussed and shared experiences as they tackled the most relevant developments facing the Asian financial landscape today. At the forefront was the integration of digital technology into the financial landscape and how digital banking and the wave of technologies are now disrupting the banking industry.

How PSEi member stocks performed — November 28, 2019

Here’s a quick glance at how PSEi stocks fared on Thursday, November 28, 2019.

PEZA seeking to insert grandfather exemptions in CITIRA legislation

THE Philippine Economic Zone Authority (PEZA) said it hopes to grandfather more locators and impose a 15-year transition period in its proposals to modify the bill seeking to rationalize investor incentives.

China calls fears of grid shutdown ‘groundless’

CHINA said there is no basis for fears that one of its grid companies which invested in the Philippines has the ability to shut down power here.
rice farmer

House bill proposes further P8.4 billion for rice farmer CCT

A SENIOR legislator has filed a bill seeking P8.4 billion in 2019 supplemental appropriations for rice farmers, packaged as an emergency fund disbursing conditional cash transfers (CCT) of P7,000 per farmer.

Malaysian firm certified to maintain PHL business jets

COMMERCIAL jet maintenance service provider ExecuJet MRO Services Malaysia said the Civil Aviation Authority of the Philippines has allowed the company to service specific aircraft that are on the Philippine aircraft registry, including aircraft from Bombardier, Gulfstream and Dassault Business Jets.

Palace issues EO creating railway training institute

PRESIDENT Rodrigo R. Duterte signed an executive order that will create a research institute under the Department of Transportation (DoTr) to upgrade training in the railway sector to support key rail projects in the pipeline.

Manufacturing summit hoping to address growth decline

A MANUFACTURING-industry summit on Dec. 3 will seek to address slowing growth in the sector and anticipate challenges posed by technology and legislation, the Department of Trade and Industry (DTI) said.
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SEC issues warning against unlicensed investment firm

THE Securities and Exchange Commission (SEC) has warned the public against Technovanti Neteligence, Inc., saying the company has no license to solicit investments or other securities.

Journalists’ safety: The long road ahead

THE Asian Institute of Journalism and Communication (AIJC) launched on Nov. 22, on the eve of the 10th anniversary of the Nov. 23, 2009 Ampatuan Massacre, a document unique to the Philippines.

A warning to struggling entrepreneurs

The contribution of countless Small- and Medium-Enterprises (SMEs) to the overall economic resilience of the Philippines goes beyond mere numbers. More than 66% of our GDP for example, has come from our SMEs starting 2011 based on the Department of Trade and Industry data. Of the more than 820,000 registered companies, 99.6% are SMEs. And at least 61% of our entire work force is employed in these enterprises. We cannot even account for the additional impact of micro-businesses, many of which are unregistered.

Sexual violence and victim-centered approach: A transitional justice perspective

Let us understand something: sexual violence is not about sex alone -- it is about power that one forces over another and uses sexual advances to achieve their goal. As argued by Susan Brownmiller, author of Against our Will (1975), “a conscious process of intimidation by which all men keep all women in a state of fear.” Thus, rape is about power through the use of sexual violence.

Remembering Manila Bay

MAMA LOVED SOFTBALL. Sunday afternoons, whenever Papa was busy writing speeches for President Manuel Roxas (he was the Philippines’ first Press Secretary in 1946), Mama would drive us to Dewey Boulevard by the bay after lunch on Sunday. There, we would play catch (three girls and two boys -- the third boy had not yet been born), eat popcorn, and watch the blazing sunset.

Peso climbs versus dollar

THE PESO strengthened on Thursday amid risk-on sentiment following the passage of a US legislation supportive of Hong Kong’s autonomy.
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Stocks drop as Trump signs bills supporting HK

PHILIPPINE SHARES failed to sustain its recovery on Thursday, reflecting the downward performance of Asian markets after the US decided to sign a bill supporting protesters in Hong Kong, which could negatively impact developments in the US-China trade war.

Duterte says there will be ‘no sacred cow’ in SEA Games ruckus

PRESIDENT Rodrigo R. Duterte will not spare organizers of the Southeast Asian (SEA) Games from punishment if allegations of corruption against officials including his ally Speaker Alan Peter S. Cayetano are proven.

Panelo says VP report on illegal drugs made up

PRESIDENTIAL Spokesperson Salvador S. Panelo doubts any of the revelations that Vice President Maria Leonor G. Robredo will make on the government’s deadly war on drugs are real.

Duterte defends drug war against critics

PRESIDENT Rodrigo R. Duterte yesterday defended his deadly war on drugs against critics, saying the country needs an iron fist to destroy drug lords.

Duterte orders drive vs illegal recruiters

PRESIDENT Rodrigo R. Duterte yesterday ordered Labor and Social Welfare officials to combat illegal recruitment of Filipinos to other countries. “I order you to come...

China rejects alleged control of Philippine grid

THE Chinese government said it has no control over the National Grid Corp. of the Philippines, belying claims made by an opposition Senator.

Let the Games begin

THE 30th edition of the biennial Southeast Asian Games officially kicks off this weekend with opening ceremonies happening at the Philippine Arena in Bocaue, Bulacan.

Philippine gymnastics team sees solid outing in SEA Games

By Michael Angelo S. Murillo Senior Reporter RIDING the momentum of the recent success of gymnast Carlos Yulo in international competitions, the Philippine gymnastics team is...

Northport completes PBA Governors’ Cup semifinal cast

THE semifinal cast for the Philippine Basketball Association Governors’ Cup is now complete with the Northport Batang Pier the last one to catch the semis bus after completing an upset of the top seeds NLEX Road Warriors with a 126-123 triple-overtime victory in their do-or-die match on Wednesday at the Smart Araneta Coliseum.

UV, NU nab overall supremacy in SBP-Passerelle Twin Tournament

ROXAS CITY, CAPIZ -- University of Visayas (UV) and Nazareth School of National University (NU) were crowned champions in their respective divisions at the SBP-Passerelle Twin Tournament National Finals in Roxas City, Capiz. Around 120 student-athletes saw action at Dinggoy Roxas Civic Center, where they went head-to-head and competed for the biggest title in youth basketball.

Wrath of Celtics fans

Yesterday’s other highly anticipated return to the homecourt of a former team was scuttled due to an injury to Kyrie Irving. Not that he dreaded the prospect of facing the Celtics on the road in light of all the ill feelings that accompanied his foray into free agency; it was his seventh straight missed match since he suffered from a sore shoulder, an absence announced earlier in the week. To be sure, the development was prompted in part by the Nets’ success without him; considering that they had lost a mere set-to, he didn’t need to rush his convalescence.

How Filipinos can play the biggest American lotteries from the Philippines

The American Mega Millions lottery is currently offering a jackpot worth $243 million USD, a prize that is attracting attention from lottery fans everywhere....

What makes Google, Google? The tech giant shares their four core principles.

Google is famous for its fun and free corporate culture. Broadly speaking, it can be boiled down into some very simple principles. During Philippine Startup Week, Google shared the 4 core principles that made them the company that they are today.

Police seize P600,000 worth of drugs from suspects

POLICE arrested 25 people and seized P642,400 worth of illegal drugs in separate operations in the metro in the past two days.

Chinese busted with P2.5B worth of shabu

AT LEAST P2.5 billion worth of the illegal drug locally known as shabu (methamphetamine) were seized from a Chinese national in Makati City on Tuesday night, the biggest haul of prohibited narcotics so far this year, the police reported.

Nation at a Glance — (11/28/19)

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

MRT-7 clears key hurdle

THE METRO RAIL TRANSIT Line 7 (MRT-7 -- a flagship project of the government -- has overcome a major right-of-way obstacle that had forced proponent San Miguel Corp. to stretch completion timetable by two years to 2022, when President Rodrigo R. Duterte ends his six-year term.

Senate OK’s proposed P4.1-trillion 2020 national budget on time

THE SENATE on Wednesday approved on second as well as third and final reading its version of the P4.1-trillion national budget for 2020, putting the spending on track to year-end enactment.

House body sees prompt action on POGO tax

THE HOUSE of Representatives ways and means committee expects the proposal to tax Philippine Offshore Gaming Operators (POGO) to be approved without much difficulty in the plenary, the panel’s head said on Wednesday.
steel bars Laguna

Customs taps standards bureau for tighter watch on imported steel bars

THE BUREAU of Customs (BoC) and the Bureau of Philippine Standards (BPS) are now coordinating to strengthen examination of imported steel bars after lawmakers launched an inquiry on the alleged smuggling of substandard steel into the country.

Lufthansa Technik says no plans to relocate outside PHL

LUFTHANSA Technik Philippines (LTP) on Wednesday said it has no plans to relocate outside of the Philippines, despite concerns over the proposed Comprehensive Income Tax and Incentives Rationalization Act (CITIRA).
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SEC approves Vista Land, Cirtek bond offerings

THE Securities and Exchange Commission (SEC) has approved the planned bond offerings of Vista Land & Lifescapes, Inc. (VLL) and Cirtek Holdings Philippines Corp.

AC Energy raises $400 million from perpetual green bond issue

AYALA-LED AC Energy, Inc. has valued its senior perpetual fixed-for-life green bond issuance at $400 million with a fixed coupon of 5.65% with no step-up and no reset, its listed unit said on Wednesday.

Proudly Promdi brings the spirit of the north to the big city

“RUSTIC” has come to mean a lot of things as the dawn of the new decade approaches. It can mean just plain and simple, and especially if it was made somewhere rural. These days, however, something having a rustic quality means that it was born somewhere away from the prying hands of the city and modernity, and thus, quite pure.

Indian firm CarDekho Group acquires Carmudi Philippines

INDIAN automotive technology company CarDekho Group has acquired local automotive website Carmudi Philippines, Inc.