Home 2020 January 3

Daily Archives: January 3, 2020 | 7:33 pm

Antitrust body wants dawn raids without writ

THE Philippine Competition Commission (PCC) wants Congress to empower it to conduct dawn raids without a court order, as it bolsters its probe of dishonest or fraudulent rivalry in trade and commerce, according to the agency’s year-end report.

Business group eyes GDP growth of as much as 7.5%

A BUSINESS chamber said the economy would probably grow by as much as 7.5% this year, thanks to continuing reforms, increased infrastructure spending and a benign inflation environment.

Creation of OFW agency sought after tragedies

A CONGRESSMAN on Friday renewed his call for the creation of a Department of Filipinos Overseas and Foreign Employment after the latest tragedies involving Filipino workers in Kuwait and Singapore.

Mindanao still under state of emergency, Palace says

THE Mindanao region remains under a state of national emergency even as martial rule expired on Dec. 31, presidential spokesman Salvador S. Panelo said on Friday.

High court rejects lawsuits vs EDSA bus ban

THE Supreme Court has dismissed several lawsuits seeking to stop the government from banning provincial buses from the main EDSA highway.

US senator scores Duterte’s `strongman tactics’

AN AMERICAN senator has criticized President Rodrigo R. Duterte’s “strongman tactics,” saying he won’t end his campaign against alleged human rights violations despite being barred from coming to the Philippines.

Heirs of journalist in massacre file appeal notice

THE heirs of Reynaldo Momay, a photojournalist whose body was not found after the massacre of more than 50 people in Maguindanao province a decade ago, said they would appeal the dismissal of the murder case.
Supreme Court

50 ‘judges-at-large’ posts to decongest dockets

THE Supreme Court has designated 50 “judges-at-large” who will help other judges decide cases, in keeping with a law that seeks to decongest court dockets.

DoJ to decide major cases at start of year

THE Justice department is expected to resolve “big cases” at the start of the year, a government prosecutor said on Friday.

Aboitiz holding firm plans to offer dollar-denominated notes

ABOITIZ Equity Ventures, Inc. (AEV) is planning to issue dollar-denominated senior unsecured notes “subject to market conditions,” the holding said on Friday as one of its units appointed financial institutions to arrange events for investors on the proposed offering.

Lopez firm appeals order to pay P1.2 billion in tax case

FIRST Philippine Holdings Corp. (FPH) said on Friday that it intends to ask within the day the Court of Tax Appeals (CTA) to reconsider its decision that granted in part the Lopez-led firm’s petition for review to protest a tax assessment of around P1.5 billion.

Petron starts fuel marking in refinery, import facility

PETRON CORP., the country’s largest oil refiner, said on Friday that it had rolled out fuel marking at its refinery in Bataan and its import facility in Misamis Oriental to support the government’s efforts to curb smuggling.

AirAsia adds more local and international flights

PHILIPPINES AirAsia, Inc. said on Friday that it was increasing the frequency of flights in high demand domestic and international destinations.
frozen meats supermarket

DA confirms ASF in QC supermarket meat display

THE Department of Agriculture (DA) said Friday it has confirmed a case of African Swine Fever (ASF) in a Quezon City meat dealer’s produce chiller.
Kaliwa dam map

Kaliwa Dam waiver, arbitration terms onerous, legislator says

A HOUSE official spelled out what he described as onerous provisions in the China-funded Kaliwa Dam project agreement, including the waiver of sovereign immunity and the conditions set for any arbitration proceeding.
New Clark City BCDA

Tarlac provincial gov’t to take up 52 hectares of New Clark City

THE Tarlac provincial government will establish offices and other facilities in New Clark City, Capas, Tarlac.

DA authorizes red onion imports until Feb.

THE Department of Agriculture (DA) said it issued import clearances for red onions to address the inadequate domestic supply.

Qatar Fund hopes to back BARMM development projects

THE Qatar government hopes to fund development projects in the Philippines focused on infrastructure, human capital development and assistance to the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

Union Bank wins approval for tier-2 note issue of up to P20-B

UNION BANK of the Philippines, Inc. said it received approval from the Bangko Sentral ng Pilipinas (BSP) to issue up to P20 billion worth of notes.
PDIC logo

Closed rural bank’s creditors urged to file claims

CREDITORS of the defunct Maximum Savings Bank have been invited to submit their claims against the bank’s assets, the Philippine Deposit Insurance Corp. (PDIC) said.
Peso Dollar

Peso weakens sharply on threat of widening US-Iran tensions

THE PESO weakened sharply past the P51-to-the-dollar level following a rush to safe-haven currencies due to the prospect of fresh Middle Eastern tensions after a US air strike killed a senior Iranian military officer while he was in Iraq.

Local stocks post year’s first rise

THE Philippines’ main index showed its first climb after three days on Friday as investors took cues on the mild improvement in the Philippines’ factory output for December.

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NCR point person of local terrorist group arrested

THE SUSPECTED gunrunner arrested in Quezon City on January 1 is the point person of the Dawlah Islamiya terrorist group in Metro Manila, according to the police chief.

Nation at a Glance — (01/03/20)

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

Factory activity improves slightly in Dec.

FACTORY ACTIVITY in the country improved modestly in December, driven by growing demand and higher exports, but production slowed to a two-year low, dragged by supply shortages and traffic issues, IHS Markit’s latest survey showed.

Manufacturing purchasing managers’ index of select ASEAN economies, December (2019)

FACTORY ACTIVITY in the country improved modestly in December, driven by growing demand and higher exports, but production slowed to a two-year low, dragged...

Ampatuans appeal guilty verdict in 2009 massacre

Murder convict Anwar Ampatuan Sr. and his two sons appealed the guilty verdict against them by a Quezon City court in connection with the...
NEDA building

12 multibillion-peso projects up for NEDA board review this month

GOVERNMENT economic managers are expected to go over 12 projects worth P652 billion this month as part of a plan to build growth centers in the countryside and expand development opportunities nationwide.

Stocks, peso drop on 1st trading day of 2020

THE Philippine Stock Exchange index (PSEi) started the year on a dour note as the benchmark index slipped, while the peso weakened against the US dollar on the first trading day of 2020.

Regulator OK’s CMIC rules on SBL, short selling

THE Securities and Exchange Commission (SEC) approved the guidelines prepared by the Capital Markets Integrity Corp. (CMIC) on securities borrowing and lending (SBL) and short selling.

POGOs to remain demand driver of Metro Manila offices

METRO MANILA’S office space is expected to grow by 5% this year, with Makati City accounting for most of the supply, a property consultant said, while pointing to demand as continuing to be driven by offshore gaming operators.

Now it wants an Oscar

NETFLIX INC. has been making its own movies for years, but 2019 may be remembered as the year it truly became a film studio.

Labor dep’t freezes processing of papers for new OFWs to Kuwait

LABOR Secretary Silvestre H. Bello III has frozen the processing of papers for new Overseas Filipino Workers (OFWs) to Kuwait, after reports of a Filipino domestic worker murdered by her Kuwaiti employers.

ABS-CBN nears 10-year low as Duterte attacks continue

ABS-CBN Corp.’s shares are headed to a 10-year low after Philippine President Rodrigo R. Duterte continued his attacks on the television network he has accused of bias, urging its owners to sell before its franchise expires in March.

6 Underground is Netflix PH most popular show in 2019

IN THE THREE YEARS SINCE streaming giant Netflix entered the Philippines — alongside 90 other territories — in 2016, Filipinos have largely embraced streaming as a new way to consume content.

Tesla must face lawsuit claiming racism at California factory

A FEDERAL JUDGE rejected Tesla Inc’s effort to dismiss claims by two former workers that the California electric car factory where they worked was a hotbed of racial hostility, clearing the way for a possible trial.

Lawmaker seeks fast action on ABS-CBN franchise

A LEGISLATOR plans to file a resolution directing the House Committee on Legislative Franchises to “report without delay” for plenary action a consolidation of nine bills seeking the renewal of ABS-CBN Corp.’s franchise.

Original content was Netflix’s top international draw in 2019

NETFLIX INC., touting the success of its original programming, said the most popular releases on its streaming service this year were things it produced: the comedy movie Murder Mystery and the third season of its 1980s sci-fi show Stranger Things.

Yields on term deposits slip on holiday flows

TERM DEPOSIT yields slipped on the first week of the year on the back of some holiday fever and the stronger performance of the peso in 2019.

Strike not extended at Lufthansa’s Germanwings

BERLIN -- The trade union representing cabin crew at Lufthansa’s budget airline Germanwings decided on Wednesday not to continue their strike for the time being after three days of stoppages led to dozens of flights being canceled.

PhilWeb’s Valdes moves to another Ongpin firm

DENNIS O. VALDES is leaving his posts as president and director at PhilWeb Corp. to take the helm at Ongpin-led Alphaland Corp.

Amanda comes to the rescue again in 2nd season

ANIMAL SHOW Amanda to the Rescue is coming back for a second season on Jan. 6 on Animal Planet, promising “a lot more consistency” this time around according to its star, Amanda Giese.

Uber, Postmates sue to block California gig-work law

RIDE-HAILING company Uber Technologies Inc. and courier services provider Postmates Inc. asked a US court to block a California labor law set to go into effect on Wednesday, arguing the bill violates the US Constitution.
Carlos G. Dominguez III

Gov’t eyes tighter debt spreads

THE GOVERNMENT is planning to price its foreign bond issuances this year at “even tighter” spreads amid expectations of a credit rating upgrade in the medium term and policy easing from global central banks.

JoyRide set to reach 10,000 bikers next month

MOTORCYCLE ride-hailing service JoyRide expects to hire more bikers and reach the 10,000 cap by February after an inter-agency technical working group imposed the limit on motorcycle taxis, including the more established Angkas.