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Monthly Archives: December 2019

Credit Suisse admits spying on second executive

ZURICH -- Credit Suisse on Monday admitted to snooping on another of the bank’s former executives, deepening a spying scandal at the Swiss group, which is already under investigation for putting its ex-wealth management chief under surveillance.

Grab to start rider refunds on Dec. 31

GRAB Philippines will start giving refunds, which start at P1, to select Grab passengers on Dec. 31 as ordered by the country’s competition watchdog.

NYK Line’s MarCoPay gets license to operate

JAPANESE SHIPPING firm NYK Line’s e-money platform MarCoPay has secured a license to fully operate in time for its launch early next year, which it said will benefit over 200,000 Filipino seafarers.

Tesco suspends supplier over prisoner message

LONDON -- British supermarket giant Tesco suspended a Chinese supplier of Christmas cards on Sunday after a press report said a customer found a message written inside a card saying it had been packed by foreign prisoners who were victims of forced labor.

Not a laughing matter

I MISSED the first few minutes of The Mall, The Merrier, the first team-up of noontime show hosts and actors Vice Ganda and Anne Curtis-Smith. After sitting through it for two hours, I wish I had missed a larger part of it.

New Boeing CEO Calhoun is hardened corporate crisis manager

BELEAGUERED -- Boeing Co. is putting its future in the hands of a turnaround veteran who has led several companies in crisis, cut his teeth at engine maker General Electric Co and has spent a decade on the board of the world’s largest planemaker.

Telling tales

THIS YEAR’s Metro Manila Film Festival (MMFF) only has one romance (in contrast, 2018 had three: Girl in the Orange Dress, Mary Marry Me, and One Great Love) and it’s not really that much about romance but more about how art imitates life and how people would try to escape their realities and rewrite their lives if they could.

Miner sells Subic property for P100M

DIZON COPPER-SILVER Mines, Inc. on Thursday said that it has agreed to sell its property in Subic, Zambales to a real estate developer for P100 million.


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Bank versus market-based financial systems

A balanced and developed finance system will have both well functioning financial intermediaries and market based institutions contributing to the economy’s growth. This is achieved through several channels: (1) acquisition on information about firms; (2) provision of risk-reducing arrangements; (3) pooling of capital; and (4) ease of making transactions. Information gathering is key to monitor the efficiency and productivity of projects. The system increases the pool of available funds and hedging of risks lead to better allocation to productive uses of funds mobilized from savers. With good governance, the financial systems can help to retain domestic savings at home.

How PSEi member stocks performed — December 26, 2019

Here’s a quick glance at how PSEi stocks fared on Thursday, December 26, 2019.
Malacañang Palace

Palace signs bill extending validity of 2019 budget

PRESIDENT Rodrigo R. Duterte signed into law the extension of the 2019 General Appropriations Act (GAA) until the end of next year, making up for the four-month delay in passing this year’s spending plan.

House may amend local gov’t code to force property valuation adjustments

A KEY legislator said the House intends to review a rarely-enforced Local Government Code provision requiring real estate values to be adjusted every three years.

DTI studying expanding trade with Africa, posting attaché next year

THE Department of Trade and Industry (DTI) said it will study the expansion of exports to Africa, particularly Kenya and Egypt, which it views as having the potential to consume substantial quantities of Philippine goods.

Iloilo City to offer mass transport project for PPP

ILOILO CITY -- Mayor Jerry P. Treñas wants to set up a mass transport system in Iloilo City and is looking for a private investor that will partner with the local government.
e-commerce

Tiny proportion of small firms linked to global supply chain — PIDS

ONLY A SMALL SHARE of Philippine small businesses are connected to the global supply chain, with 1.3% of 530 surveyed companies directly exporting in 2016, the Philippine Institute for Development Studies (PIDS) said.

Tax appeals court rejects BIR appeal on Metro Rail tax assessment

THE Court of Tax Appeals (CTA) denied for lack of merit an appeal of the Bureau of Internal Revenue (BIR) seeking to overturn the cancellation of the P1.63-billion deficiency tax assessment against Metro Rail Transit Corp. (MRTC).

DAR transfers functions to BARMM counterpart

THE Department of Agrarian Reform (DAR) said it has turned over its functions to the Ministry of Agriculture, Fisheries, and Agrarian Reform (MAFAR) of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
DENR logo

DENR meets biodiversity targets

THE Department of Environment and Natural Resources (DENR) said it has surpassed its 2019 targets for biodiversity preservation.

Peso ends flat on cautious trading ahead of year’s end

THE PESO ended sideways on Thursday as the market opted to stay on the sidelines as the year comes to an end.
PSE bells

PSEi falls as volume thins ahead of year’s close

PHILIPPINE SHARES failed to sustain their gains on Thursday as investors anticipate little market activity as the year comes to an end.

Duterte wants Maoist leader to come home

PRESIDENT Rodrigo R. Duterte wants Maoist leader Jose Maria C. Sison to come home from the Netherlands so they could have a “one-on-one talk” and possibly resume peace talks.

Korean wanted for cyberfraud stopped from leaving airport

IMMIGRATION agents stopped a Korean national wanted in his country for cyberfraud from leaving the country on Dec. 19, the bureau said in a statement on Thursday.

MMDA cites loopholes, but supports single ticketing bill

THE METROPOLITAN Manila Development Authority (MMDA) on Thursday expressed support for the bill that seeks to institutionalize a single ticketing system for traffic violations in the National Capital Region (NCR).

Ending impunity

The guilty verdict on some of the principals responsible for the Nov. 23, 2009 Ampatuan Massacre is the first instance in which members of a powerful warlord clan have been convicted as masterminds in the killing of journalists in the Philippines. No masterminds and only 14 assassins had previously been convicted of the killing of the remaining 133 journalists out of the 165 who have been murdered for their work since 1986.

BARMM launches job portal site

AN ONLINE job portal has been launched by the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) government as it undertakes the formal three-year transition period starting Jan. 1.

Nationwide round-up

Duterte mulls ceasefire termination after alleged NPA attacks PRESIDENT RODRIGO R. Duterte is considering the termination of the unilateral ceasefire with the communist faction after...

Justice served?

It is to be expected -- the conviction after 10 long years of Zaldy Ampatuan and some others for the murder of 58 people back in 2009. How can it be otherwise?

Passing the hat

THERE IS NO shortage of worthy causes asking for help. Even in small communities like the office, alumni classmates, chat groups, there are always those in need of financial help, ostensibly not to pay off credit card debts. The practice of “passing the hat” seems prevalent in our culture. There is no real hat to throw in coins and bills in nowadays, just a bank account number (please send photo of the deposit slip).

Everyone is necessarily the hero of his own story

TWO INCIDENTS incited me to pen this story about storytelling.

Trump’s trade wars expose an abiding truth

AS THE year ends, a partial and brief cease-fire seems imminent in Donald Trump’s trade war on the world. The United States and China may sign a deal as early as next month. But make no mistake: The protectionist impulse behind the trade war remains as ineradicable as ever.

In the Star Wars economy, one thing doesn’t pay

JUNK IS surprisingly pervasive in Star Wars, playing an understated role in nearly every film in the series. In The Phantom Menace, we meet young Anakin Skywalker, the future Darth Vader, working at a small electronics scrap yard and repair shop. In A New Hope, Luke Skywalker’s uncle buys R2-D2 and C-3PO from a group of Jawas, a species that drive massive, sand-crawling junk trucks. The recently released Rise of Skywalker is largely a coming-of-age story for Rey, the last of the Jedi, who spent her youth scavenging electronic scrap on Jakku, a remote outer planet.

Nation at a Glance — (12/27/19)

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

Good year for combat sports in 2019

THE YEAR 2019 could well go down as one of the better years for combat sports in the country as various disciplines of the sporting form had their moments front and center.

Clippers rally past Lakers

LOS ANGELES -- Kawhi Leonard had 35 points and 12 rebounds to lead the visiting Los Angeles Clippers to a come-from-behind, 111-106 win against the Los Angeles Lakers on Wednesday evening.

Ginebra Kings’ Brownlee, Meralco Bolts’ Durham looking forward to Big Dance reengagement

FACING in a Philippine Basketball Association finals for the third time in the last four years, imports Justin Brownlee of the Barangay Ginebra San Miguel Kings and Allen Durham of the Meralco Bolts said the championship feeling does not get old even as they said they are looking forward to playing anew in the Big Dance.

Kobe, Andre Paras with Chooks-to-Go help out in relief efforts in Davao

KOBE and Andre Paras together with Chooks-to-Go on Dec. 23 made sure to give back to the victims of the earthquake that struck Davao Del Sur last Dec. 15.

Bengals, Browns end disappointing seasons with rivalry matchup

CINCINNATI -- With the top pick in the 2020 NFL Draft dubiously secured, the Cincinnati Bengals enter their regular-season finale on Sunday against the visiting Cleveland Browns with the usual rivalry matters on their mind.

Eagles look to clinch NFC East by beating Giants

NEW YORK -- The Philadelphia Eagles will be looking to clinch their third consecutive playoff berth when they visit the New York Giants on Sunday.

Lakers vs Clippers

The Lakers couldn’t have been happy with the way their match against the Clippers ended yesterday, and not just because it gave perennial irritant Patrick Beverley cause to celebrate at their expense. Even with All-Stars LeBron James and Anthony Davis starting slow, they appeared to have the set-to under control early and often courtesy of an overachieving bench. Unfortunately, they failed to sustain their momentum in the face of stellar defense and a relentless push by reigning Finals Most Valuable Player Kawhi Leonard; a lead that stood as high as 15 turned into a deficit they needed to overcome with a last-gasp trey attempt that a simple swipe converted into a turnover.
shabu

Chinese-run group tagged in P800-M drug stash

THE Chinese-run Golden Triangle syndicate might be behind the P802.4 million worth of crystal meth or shabu seized at a townhouse in Quezon City on Tuesday, the government’s chief anti-narcotics officer said on Wednesday.

More subway phase 1 packages offered

THE DEPARTMENT of Transportation (DoTr) is inviting Japanese firms and Japanese-led joint ventures to bid to provide train sets, as well as electrical and mechanical (E&M) systems and rail track works as part of the first phase of the Metro Manila Subway Project, one of the current administration’s flagship developments funded by Japan official development assistance (ODA).

NTRC says real property tax key to improving local government finances

A STATE think tank is pressing for improvement in implementation of property-related taxes as part of efforts to boost local government units’ (LGU) revenue-raising capacity.

Duterte grapples with Chinese Golden Goose’s illegal eggs

WANG HONG, 29, was hooked on gambling.

Welcome 2020!

SO LONG, farewell, and auf wiedersehen to 2019. We’ve come up with a list of where you can kiss this year goodbye, from the city’s most plush, most pumping places — and even right at home.