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Daily Archives: January 2, 2020 | 10:57 pm

Palace will review Kaliwa deal if onerous provisions found

PRESIDENT Rodrigo R. Duterte will review contracts for the Kaliwa Dam project in Quezon should any questionable provisions emerge, his spokesman said.
Department of Budget and Management (DBM)

DBM sets rules for Jan. spending before 2020 budget is signed

THE Department of Budget and Management (DBM) ordered agencies and local government units (LGUs) to operate with funds appropriated for 2019 for the time being as the 2020 budget is still awaiting President Rodrigo R. Duterte’s signature.

Palay farmgate price resumes fall after brief gains

THE AVERAGE farmgate price of palay, or unmilled rice, declined 0.1% week-on-week to P15.55 per kilogram (kg) in the fifth week of November, breaking a two-week run of gains, the Philippine Statistics Authority (PSA) said.

National government debt at P7.7 trillion in first 11 months

THE national government’s outstanding debt declined 2.5% month-on-month to P7.709 trillion in the 11 months to November due to net redemptions of government securities, the Bureau of the Treasury (BTr) reported Thursday.
sugar wet market

Sugar production falls over 27% as of early Dec.

THE Sugar Regulatory Administration (SRA) said sugar production as of the first week of December fell 27.48% year-on-year.

House panel also declares POGO probe a priority

THE House Committee on Games and Amusements said it will also give priority to an investigation into the Philippine Offshore Gaming Operators (POGOs) industry when the Congressional session resumes, its chairman said.
Bureau of Immigration (BI)

BI reminds registered foreigners of personal appearance requirement by end-February

THE Bureau of Immigration (BI)has instructed foreigners registered with the bureau to report in person to the nearest immigration office by the end of February, as required by law.
IPOPHL logo

Philippines, Laos sign IP cooperation agreement

THE Intellectual Property Office of the Philippines (IPOPHL) said it signed a memorandum of cooperation (MoC) with the Lao People’s Democratic Republic’s Department of Intellectual Property (DIP) to mutually promote and improve intellectual property systems.

ADB approves new $400-M loan to back Jobstart program

THE Asian Development Bank (ADB) approved a $400-million loan for the second subprogram of the Facilitating Youth School-to-Work Transition Program, which will support the Department of Labor and Employment’s (DoLE) Jobstart scheme for at-risk youth.
peso dollar

Peso weakens versus the dollar on corporate demand, stock market

THE PESO weakened on the first trading day of the year on the back of the losses in the stock market and as some investors stock up on their dollar ahead of the uncertainties throughout the year.

Index declines on outflows due to China RRR cut

PHILIPPINE STOCKS tanked on the first day of trading for 2020 as money flew to China following its central bank’s decision to reduce banks’ reserve requirement ratio (RRR) and as uncertainty continues to hover on water stocks and ABS-CBN Corp. due to a rift with the government.

The 2010s wrecked the planet. Don’t despair yet

THE PAST DECADE hasn’t done much to inspire optimism about the future of the planet.

Entry and access denied

In another demonstration of unpresidential pique, President Rodrigo Duterte has ordered the Bureau of Immigration to stop United States Senators Richard Durbin and Patrick Leahy from entering the country. Messrs. Durbin and Leahy were the most instrumental in the decision to include in the 2020 US budget act, which Duterte phone pal Donald Trump has signed into law, a provision ordering the Secretary of State to deny entry into the US anyone in Philippine officialdom involved in the persecution, arrest and detention of opposition Senator Leila de Lima.

For here or to go?

NOT ALL the food you ordered or got as gifts end up on the holiday table and fully consumed by your guests. Always, there is an embarrassment of calorific riches left untouched. The household is faced with limited refrigerated space and the need to decide what to keep and what to give away -- for here or to go?

Photos of black holes will blow our minds again in 2020

THE SEEMINGLY impossible, paradoxical news that astronomers had taken a picture of a supermassive black hole captured our imaginations in 2019 for good reason. What they actually showed us was a sort of shadow -- a spherical blackness surrounded by a cosmic hurricane of matter and energy -- but that was enough to qualify as a sign of real human progress.

Math geeks were in their glory in the 2010s

THE YEAR 2019 capped off a decade in which some of the thorniest math questions finally yielded to mathematicians’ ingenuity. We learned profound facts about the distribution of primes, approximations of irrational numbers, and how to pack eight- and 24-dimensional oranges (not so useful for grocers, but important for communications technology).

Roller-coaster ride for PH basketball

PHILIPPINE basketball saw its share of ups and downs in the Year 2019, carrying with them lessons that should serve to steer the sport into the coming years.

Former Commissioner David Stern dies at 77, made NBA league ‘truly global brand’

LOS ANGELES -- Former National Basketball Association Commissioner David Stern, who oversaw explosive growth in the popularity of the game during his 30-year tenure, died on Wednesday at the age of 77, the league said.

Bucks hold off Wolves for best start ever

MILWAUKEE -- Giannis Antetokounmpo recorded 32 points and 17 rebounds to lead the host Milwaukee Bucks to a 106-104 victory over the Minnesota Timberwolves on Wednesday night.

Vikings, Saints renew playoff acquaintances

LOS ANGELES -- The New Orleans Saints and the Minnesota Vikings are very familiar with one another.


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Philippines’ Cu siblings shine in Singapore Age Group Chess

SINGAPORE -- Chess sibling duo are earning fans all over the country and making history while they’re at it.

Arsenal overpowers United; Saints beat Spurs

MANCHESTER -- Arsenal showed signs they can excel under coach Mikel Arteta with an impressive 2-0 win at home to Manchester United in the Premier League on Wednesday while Southampton sunk Tottenham Hotspur 1-0 and Chelsea were held 1-1 at Brighton & Hove Albion.

NBA visionary

Yesterday came and went with the death of former National Basketball Association commissioner David Stern dominating discussions in hoops circles. If nothing else, the universal outpouring of sympathy for his family following his untimely demise underscores the depth and breadth of the influence he wielded in 30 years as head of the most progressive professional sports league in the world. So profound was the impact he made that news of his passing overshadowed continued counteraction on The New York Times’ certainly controversial crowning of someone other than LeBron James as Player of the Decade.

OFWs barred from Kuwait after housemaid’s death

THE Labor department has barred Filipino workers from going to Kuwait after reports that a Filipino housemaid had been murdered by her employer.
Vicente C. Sotto III

Anti-terror law amendments a priority: Sotto

THE Senate will prioritize a bill that seeks to boost the country’s anti-terror efforts when sessions resume on Jan. 20, Senate President Vicente C. Sotto III said.

Veteran Army officer is new AFP chief

PRESIDENT Rodrigo R. Duterte has appointed a veteran Army intelligence officer who served in his hometown of Davao City as the new Armed Forces chief, according to a copy of his appointment paper released by the presidential palace on Thursday.

Palace touts achievements of Duterte in 2019

FILIPINOS have so much to look forward to this year under the government of President Rodrigo R. Duterte, the presidential palace said on Thursday, as it touted achievements in the past year.

Typhoon Ursula infra, agri damage hits P1.2B

THE RUNNING total of damage on infrastructure and agriculture due to typhoon Ursula (international name: Phanfone) has reached 1.194 billion, the National Disaster Risk Reduction and Management Council (NDRRMC) reported on Thursday.

Cebu’s business sector flags water supply as ‘biggest challenge’

THERE MAY be no stopping Cebu from growing economically, but business leaders said government officials must address the problem of water supply, which they consider as a “red flag.

Sorghum program to be launched in Bangsamoro, IP communities

DAVAO CITY — A sorghum program will be launched in Mindanao next year, starting with indigenous people (IP) communities and parts of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), the Mindanao Development Authority (MinDA) announced last week.

Gun ban, checkpoints still in effect in Lanao del Sur despite martial law lifting

THE PROVINCIAL government of Lanao del Sur, which covers Marawi City, announced on Thursday that peace and security measures such as the ban on carrying firearms remains in place despite the end of the martial law declaration effective January 1.

Nationwide round-up

THE DEPARTMENT of Justice (DoJ) resolved more petitions for review in 2019 compared to recent years, officials reported.

2019 Christmas season safest in years — police

POLICE on Wednesday reported more than 300 holiday-related incidents at the year-end, 59% lower than a year earlier.

Central Visayas minimum wage rising

BUSINESSES in Central Visayas -- which has the fourth-biggest contribution among the country’s 17 regions to national economic growth -- will have to pay their employees more starting next week, after new daily minimum wage rates for private sector workers were published in a local newspaper on Dec. 21.

SEC sets new guidelines on corporate governance

THE SECURITIES and Exchange Commission (SEC) has issued a new code of corporate governance for public companies and registered issuers, in line with its plan of adopting principles observed by the Organization for Economic Co-operation and Development (OECD).
BSP

BSP tightens up rules on bank directors, execs

THE MONETARY BOARD of the Bangko Sentral ng Pilipinas (BSP) has expanded grounds for disqualification of candidates for directorship and officer posts in banks and quasi-banks (QBs), the BSP said in a Jan. 1 press release.

Visayas and Mindanao could add to electricity crunch in hot months — Energy department...

PEAK POWER DEMAND in the Visayas and Mindanao may have moved towards the dry months -- when Luzon usually marks its biggest usage each year -- the Department of Energy said, as it prepares for the possibility that all three island groups will require more electricity at the same time.

ALI targets REIT offering this year

AYALA LAND, Inc. (ALI) said that it is still pushing through with its real estate investment trust (REIT) offering this year.

AC Health focuses on cancer care facilities

THE healthcare unit of Ayala Corp. (AC) is breaking ground on its P2-billion cancer care hospital this year, as it targets to open up to two cancer clinics before yearend.

What to do with holiday leftovers

AS WE leave the old year behind, we’re entering 2020 with a little bit of baggage: holiday leftovers. For the first week of this new decade, we’re giving you a few recipes using things you might have left in your fridge after the holiday rush.

India’s internet shutdowns cost carriers millions in lost revenue

NEW DELHI -- Indian mobile operators are losing around 24.5 million rupees ($350,000) in revenue every hour they are forced to suspend internet services on government orders to control protests against a new citizenship law, a top lobby group said on Friday.

Asia Inc.’s debt level is rising again, but that’s a good thing

THE financial gearing of Asia Pacific’s largest companies has risen for a second year following a period of deleveraging, but market participants don’t see cause for alarm.

The Filipino banig: more than just decor

THE INITIAL idea was to use the 40 banigs — mats which had been woven in Basey, Samar — as gifts and room decor. It was the plan when Philippine Ambassador to Portugal Celia Anna M. Feria arrived in Lisbon in May 2017 to assume her post.

BSP approves report on banks’ intraday liquidity

THE BANGKO SENTRAL ng Pilipinas (BSP) will now require bigger lenders to report their intraday liquidity position as it looks to monitor its supervised institutions and their capacity to shoulder their day-to-day obligations with clients.

Huawei’s 2019 revenues to jump 18%, forecasts ‘difficult’ 2020

SHANGHAI -- Huawei Technologies on Tuesday said its full-year revenue would likely jump 18% in 2019 to 850 billion yuan ($121.72 billion), lower than its earlier projections, as a US trade blacklisting curbed growth and disrupted its ability to source key parts.