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Monthly Archives: January 2020

Adiwang brings heat in Manila debut; Iniong wins

PROMISED to bring the heat in his Manila debut for ONE Championship, Filipino Lito “Thunder Kid” Adiwang delivered on it, emerging on top in the opening round over Thai Pongsiri Mitsatit in their strawweight fight at “ONE: Fire & Fury” on Friday at the Mall of Asia Arena.
grocery inflation

BSP says January inflation likely 2.5% to 3.3%

INFLATION may have settled at 2.5% to 3.3% in January, driven by rising food and liquefied petroleum gas prices and a higher tax on tobacco products, according to the central bank.
Makati skyline yearender

Economy may suffer from prolonged coronavirus outbreak

PHILIPPINE economic growth is likely to take a hit from a global coronavirus outbreak, with trade and tourism bearing the brunt, according to a Union Bank of the Philippines, Inc. note.

WHO declares global health emergency

THE World Health Organization (WHO) has declared a global health emergency as a new deadly strain of coronavirus that came from China spread to at least 18 other countries, including the Philippines.
congress house of representatives

House bloc seeks end to ‘onerous’ military deals

A COALITION of 12 party lists at the House of Representatives filed a resolution on Friday calling for an end to several “onerous” military agreements between the Philippines and US.
Bureau of Immigration (BI)

3 fugitives from justice to be deported

THE Bureau of Immigration will deport three fugitives from China and the US for various crimes, it said in a statement on Friday.

Filipino teen tennis star Alex Eala, Indon win Aussie Open juniors doubles title

FILIPINO tennis sensation Alex Eala captured the 2020 Australian Open Juniors women’s doubles title, partnering with Priska Nugroho of Indonesia to beat the duo of Matilda Mutavdzic and Ziva Falkner, 6-1, 6-2, in the finals on Friday.
NEDA Ernesto Pernia

87 infrastructure project approvals better than record of past 3 gov’ts — Pernia

THE government has given the green light for 87 infrastructure projects to proceed so far, a marked improvement from the record of previous administrations, its chief economic planner said.
construction infrastructure

Fitch Solutions sees construction-sector growth accelerating

THE construction industry is expected to grow 9.4% this year, remaining one of the fastest-growing markets in Southest Asia, according Fitch Solutions Macro Research.

PAL, Cebu Pacific cut flights to and from China

PHILIPPINE Airlines (PAL) and Cebu Pacific will be reducing their regular flights to and from China beginning February.

Manila Water board approves capital increase to P4.4B

Ayala-led Manila Water Co., Inc. is raising its authorized capital stock to P4.4 billion or an equivalent increase of 900 million common shares, which is the same number of shares it is carving out “for cash, properties, or assets” to carry out its business.

New round of bidding set for Malaya power plant

A THIRD round of public bidding has been set for the 650-megawatt (MW) Malaya thermal power plant in Rizal, the state agency tasked to privatize government energy assets said on Friday, after previous rounds resulted in failed bids.

Globe, Puregold team up for shoppers’ mobile app

GLOBE Telecom, Inc. and Puregold Price Club, Inc. launched on Friday a mobile app that enables Puregold shoppers do online shopping.
PCC logo

San Miguel buyout of Holcim worries competition watchdog

THE Philippine Competition Commission (PCC) has raised concerns regarding San Miguel Corp.’s (SMC) proposed $2.15-billion acquisition of Holcim Philippines Inc. (HPI), saying the deal could lessen competition in the grey cement market in Luzon.

Claims held by non-bank financials rise 14.4% in third quarter

DOMESTIC claims of non-bank financial firms rose in the third quarter of 2019 supported by their investments and loans disbursed to the private sector, according to the Bangko Sentral ng Pilipinas (BSP).

Peso stronger as coronavirus fears recede

THE PESO closed stronger Friday amid perceptions China has taken effective measures to contain the coronavirus outbreak.

Virus fears further pull down stocks

LOCAL shares slipped further on Friday to its lowest in 14 months as the novel coronavirus rapidly spreads prompting the World Health Organization to declare the outbreak as a global health emergency.

Facebook has big plans for APAC, and digital businesses need to be ready

In the company’s first ever APAC press day, Facebook shared insights on the future of social commerce, why they’re honing in on Asia-Pacific to find their next billion users, and what that means for the small businesses that call their platforms home.

Converge ICT cited as Philippines’ Fastest Growing Fiber Internet Service Provider

Converge ICT Solutions, the broadband services provider behind the country’s first pure end-to-end fiber internet network, has been cited as the ‘Fastest Growing Fibre...

An icon of Philippine media

The all-encompassing wave of change has hit Philippine media, well before renowned business magnate Manuel “Manny” V. Pangilinan had come in. Digital media were...

The steadfast third player in a ‘two-network town’

Earlier this January, the Asian Television Awards gave TV5 chairman Manny V. Pangilinan (MVP) a special award for his Outstanding Contribution to Asian Television....

From distributing channels to producing innovative and intelligent content

One of the sectors within the media industry Chairman Manny V. Pangilinan (MVP) initially entered through MediaQuest Holdings, Inc. is direct broadcast satellite. After...

A strong, reliable media network

Manuel “Manny” V. Pangilinan — also known as MVP — is popular to many as a prominent business magnate behind giant firms like PLDT,...

A champion of new media

When the MVP Group of Companies acquired TV5 about a decade ago, Manny V. Pangilinan had all but predicted the future of Philippine media. Acknowledging...

Longstanding institutions with a record of credibility

Some of the most prominent brands under the umbrella of MediaQuest Holdings, Inc. (MediaQuest), the media investment arm of the Manuel V. Pangilinan group,...

PAL suspends charter flights to China

Flag carrier Philippine Airlines (PAL) on Thursday announced the suspension of its charter flights between Kalibo,Aklan and three cities in mainland China amid the...

Drivers of growth

As trucks and utility vehicles continue to serve business operations and passenger transportation, the local commercial vehicles (CV) achieved steady growth last year, driving...

A versatile partner for your small business

Among the most difficult challenges to overcome as a small business owner is coming up with the capital to run an operation. Not only...

Infra spending seen recovering

INFRASTRUCTURE spending would probably recover this year with a national budget already in place, after lagging in the 11 months through November, the Budget department said on Thursday.

BSP eyes at least 50 bps policy rate cuts this year

THE CENTRAL BANK is still looking to cut rates by at least 50 basis points (bps) this year, its chief said on Thursday.

Virus outbreak to have short-term effect on tourism sector — Pernia

THE NOVEL CORONAVIRUS (2019-nCoV) outbreak is likely to have a short-term impact on the country’s tourism sector, according to economic managers.

Policy makers fret over global growth risks from spread of Wuhan virus

WASHINGTON/TOKYO -- A rapidly spreading virus outbreak in China is emerging as a potentially major new risk to the global economy and leaving policy makers, still grappling with the impact of the Sino-US trade war, fretting over the widening fallout.

Sarah Brightman returns to PHL

ENGLISH soprano Sarah Brightman’s HYMN in Concert tour will make a stop in the Philippines on June 10 at the Smart Araneta Coliseum. This marks Ms. Brightman’s first visit to the country after more than 15 years.

PCC renews call to review foreign equity limit in public services

THE Philippine Competition Commission (PCC) is renewing its recommendation to amend the law that limits foreign equity in public services.

Unholy Mother, Our Lady of Limitless Lies

THE MUCH-AWARDED documentary The Kingmaker, by Lauren Greenfield, opens with the octogenarian Imelda Romualdez Marcos handing out crisp 20 peso bills to the clamorous rabble, through the purposely open window of her van. It was 2014, and Mrs. Marcos was in her latest political incarnation as the representative of Ilocos Norte-Congressional District 2. (When she turned 90 last year, her nephew Angel Barba, the son of President Ferdinand Marcos’ youngest sister Fortuna Marcos Barba, took over this seat.) But even then, the groundwork was being laid for the ascendancy of her only son, Ferdinand “Bongbong” Marcos, Jr.

Maynilad picks Consunji-led firm for 150-MLD water treatment plant

MAYNILAD Water Services, Inc. has chosen a consortium led by a unit of DMCI Holdings, Inc. to build a 150-million-liters-per-day (MLD) plant that will treat water from Laguna Lake, a company related to the water concessionaire said.

Workers without access to ‘decent’ jobs seen at 470M

ACCESS to decent work is deteriorating because employers keep offering inappropriate wages or demand long hours, the International Labor Organization (ILO) said.

Best films of the past 10 years

A GRIM DECADE, grimmer now in its passing. Not a lot of comedies on my list, and what laughter there is often dies strangled in the throat.

Lyft cuts 2% jobs on journey to profitability

LYFT INC. said on Wednesday it had cut about 2% of its workforce, or 90 jobs, as the ride-hailing company seeks to achieve its goal of profitability by the end of 2021.
Carlos G. Dominguez III

Finance chief says another lease deal up for review

FINANCE Secretary Carlos G. Dominguez III flagged on Thursday another lease contract that will be up for review, adding to the list of agreements between the state and the private sector that the government found to be disadvantageous.

Imelda Marcos — in her own words

THEY SAY that a fish is caught by its own mouth. Every moment that Imelda Marcos opens her mouth in The Kingmaker, a documentary about herself by Lauren Greenfield (who also made the documentary The Queen of Versailles), we can frequently catch her saying — well, something.

At least two lenders looking to set up PHL Islamic banking units

TWO TO THREE banks have expressed interest to set up an Islamic banking unit in the country, according to Bangko Sentral ng Pilipinas Managing Director Arifa A. Ala.

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Petrobras workers call strike from Saturday; company says it is illegal

SAO PAULO -- Workers at Brazilian oil company Petrobras approved a plan to go on strike from Saturday, protesting a plan by the state-controlled firm to close a fertilizer plant and fire its 396 workers.
SEC logo

SEC flags schemes targeting public servants, OFWs

THE Securities and Exchange Commission (SEC) has flagged two groups operating an illegal investment scheme targeted to teachers, military, police and overseas Filipino workers (OFWs).

Winner’s winning moments

MANY WONDERED whether Korean pop group Winner was just a flash after clinching the crown in a talent reality show in 2013. Now, more than five years since the group’s official debut, Winner — composed of leader Seungyoon, Mino, Jinwoo, and Seunghoon — is arguably one of the most formidable K-pop groups, performing in sold-out concerts not only in Seoul but in major cities worldwide.