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Daily Archives: January 10, 2020 | 9:47 pm

Meralco ties series with Game Two victory

THE best-of-seven Philippine Basketball Association Governors’ Cup finals series is now tied at one game apiece after the Meralco Bolts exacted payback on the Barangay Ginebra San Miguel Kings, 104-102, in Game Two on Friday at the Quezon Convention Center in Lucena City.

Imports extend slump to 8th straight month in November

LATEST government data showed imports declining for the eighth straight month in November while exports were flat, the Philippine Statistics Authority (PSA) reported on Friday.

FDI net inflows rise in October

FOREIGN direct investments (FDI) inflows rebounded in October, reversing seven months of decline, according to data from the Bangko Sentral ng Pilipinas (BSP) released late Friday.

Customs bureau fails to hit 2019 revenue target

THE Bureau of Customs (BoC) fell short of its target revenue collections for 2019 by nearly five percent, amid lower import volume and a stronger peso against the US dollar, its top officials reported on Friday.

Angkas gets TRO against cap on motorcycle taxis

THE Quezon City Regional Trial Court Branch 223 has issued a 20-day temporary restraining order (TRO) against the implementation of a policy that limits the number of motorcycle taxis in Metro Manila to 30,000 and 9,000 in Cebu.

3 airlines will help repatriate OFWs from the Middle East

THE country’s three major airlines — Cebu Pacific, Philippine Airlines, and Philippines AirAsia — have committed to help the government in the repatriation of Filipinos working and living in the countries in the Middle East that are affected by the Iran-United States conflict.

House to prioritize creation new departments of Water, Disaster Resilience, and OFWs

THE House of Representatives will prioritize the passage of bills creating three departments when Congress reconvenes on Jan. 20, said House Speaker Alan Peter S. Cayetano.

Palace tells US government not to meddle in De Lima’s case

THE Palace on Friday warned the US government to keep from meddling with the Philippines’ justice system, adding that American lawmakers passing of a resolution barring certain Filipino officials involved in Senator Leila M. De Lima’s detention from entering the USA and freezing their assets is a form of “bullying.”

DoJ directs NBI to investigate ex-Batangas lawmaker’s death

THE Department of Justice (DoJ) issued an order directing the National Bureau of Investigation (NBI) to look into the death of three people who were found charred inside a burning car in Quezon Province. One of the bodies is believed to be that of former Batangas 2nd District Representative Edgar Mendoza.
Palacio del Gobernador COMELEC

Voter registration to resume this month

THE Commission on Elections (Comelec) will resume voter registration later this month, ahead of the 2022 Presidential and National polls.

QC to ensure supermarket meat is free of ASF

QUEZON CITY Mayor Maria Josefina G. Belmonte announced on Friday that she will be issuing an executive order to ensure that meat being sold by supermarkets in her city are free from African Swine Fever (ASF).

Bongbong says he will run in 2020 elections

FORMER senator and defeated vice-presidential candidate, Ferdinand R. Marcos, Jr. said on Friday that he will run in the 2022 national elections.
gas pump

No need to suspend excise tax on fuel despite US-Iran tensions

THE HOUSE Committee on Ways and Means “sees no need” to suspend the fuel excise taxes under the Tax Reform for Acceleration and Inclusion (TRAIN) Law despite the ongoing tensions between the United States and Iran, according to its chairman.

Rice tariff collections breach target

NINE MONTHS into implementation of Rice Tariffication Law, tariff collections stood at P12.3 billion as of December last year, breaching the P10-billion target that will be allotted for agriculture development programs, according to the Department of Finance (DoF).
drugs pills medicine

Price controls on medicine to hinder innovation in the sector

FITCH SOLUTIONS Macro Research flagged the Maximum Drug Retail Price (MDRP) scheme that aims to impose price controls on commonly-used drugs as a possible risk that will hinder pharmaceutical innovations in the future.

FDC eyes up to P15B via fixed-rate bonds

FILINVEST Development Corp. (FDC) is planning to raise up to P15 billion through the issuance of fixed-rate retail bonds.

CPG aims to double commercial leasing portfolio

CENTURY Properties Group, Inc. (CPG) is targeting to more than double its commercial leasing portfolio this year.

AEV raises $400M from dollar-denominated bond offering

ABOITIZ Equity Ventures, Inc. (AEV) was able to raise $400 million from its maiden dollar-denominated bond offering, it told the stock exchange Friday.

Rediscount loans rise in 2019

LENDERS did not tap the central bank’s rediscount facility for the second consecutive month in December, with an analyst saying banks likely have enough liquidity due to the reserve requirement reductions implemented in 2019.

Peso inches down on cautious trading ahead of US-China deal

THE PESO moved sideways on Friday as the market was on wait-and-see mode a week before the anticipated signing of the phase one deal between the world’s two biggest economies.
PSE bell

Stocks close lower as investors await US-China trade deal

THE main index ended lower at the close of the week as investors decided to hold off in anticipation of the signing of the trade pact between United States and China next week.

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Trade deficit narrows in November

The country’s trade-in-goods deficit narrowed in November as both imports and exports declined, the Philippine Statistics Authority reported this morning. Payments of import goods amounted...

World Bank GDP growth projections for select East Asia and Pacific economies

AFTER a projected slowdown in 2019, the Philippine economy is expected to grow faster this year due to strong government spending, but may still...

GDP growth seen picking up this year

AFTER a projected slowdown in 2019, the Philippine economy is expected to grow faster this year due to strong government spending, but may still fail to meet the official target amid domestic and external headwinds.

World Bank trims 2020 growth forecast amid slow recovery for trade, investment

WASHINGTON -- The World Bank on Wednesday trimmed its global growth forecasts slightly for 2019 and 2020 due to a slower-than-expected recovery in trade and investment despite cooler trade tensions between the United States and China.

Philippines eyes more Japanese-funded infrastructure projects

THE Philippine government is eyeing more Japan-funded infrastructure projects this year, as the two countries eased the approval process of loan agreements in a bid to fast-track the implementation of infrastructure projects under the administration’s “Build, Build, Build” program.

PHL has policy space to address challenges — Diokno

THE Philippines has enough monetary and fiscal policy space to deal with the economic challenges it faces, central bank Governor Benjamin E. Diokno said in his first speech of the year.

Dark drama Joker leads BAFTA nominations with 11 nods

LONDON — Joker, a dark origins story about the comic book villain, led nominations for the British Academy of Film and Television Arts (BAFTA) awards on Tuesday, but Britain’s top movie honors drew criticism over the lack of diversity in the acting categories.

With a greater online focus, AFC is now AFN

AFTER ALMOST a decade of serving food from the all over the region via cable TV, the Asian Food Channel has now shifted to a “digital-first approach” in order to support its three million-strong online community, hence the need to change its name to Asian Food Network (AFN), according to a channel executive.

DoJ files criminal case vs Kapa leaders for illegal securities sale

THE Securities and Exchange Commission (SEC) said criminal charges had been filed against Kapa-Community Ministry International (KAPA) and its officers for the illegal sale of securities.

Hollywood fears 2020 drop, with no Avengers Endgame or Frozen ahead

MOVIE TICKET sales are expected to fall again in 2020 without the full force of the Avengers to save them.
SEC logo

SEC warns against investing in Inochi rewards scheme

By Jenina P. Ibañez THE Securities and Exchange Commission (SEC) is warning the public against investing in a rewards program called Inochi/Inochi Rewards, which it...

Show band Music & Magic celebrates 40 years with a concert next week

THE 1980s show band Music & Magic is celebrating its 40th year with a one-night concert on Jan. 14 at the Newport Performing Arts Theater in Resorts World Manila, Pasay City.

SM Prime seeks to raise P100 billion from fixed rate bond offering

SM Prime Holdings, Inc. has applied for the shelf registration of P100-billion debt securities with the Securities and Exchange Commission (SEC).

PSBank starts offer of three-year bonds

PHILIPPINE SAVINGS Bank (PSBank) is looking to raise P3 billion via peso-denominated fixed-rate bonds to diversify its funding sources.

Oscars to go host-less for 2nd year, ABC says

LOS ANGELES — The 2020 Oscars ceremony in February will again have no host, the head of ABC Television Entertainment said on Wednesday.
migrant worker OFW

Shippers on call to help evacuate workers from Middle East

THE Maritime Industry Authority (MARINA) is ordering shipping companies with Philippine-flagged ships to prepare to assist in the repatriation of Filipino workers from the Middle East if the need arises.

Jollibee turns to dollar bond market to pay for Coffee Bean

JOLLIBEE Foods Corp. (JFC) is looking at tapping the dollar bond market for the issuance of senior perpetual securities, the proceeds of which it will be used to partly pay for its acquisition of Coffee Bean & Tea Leaf (CBTL).

Bank of Thailand looking to ease capital outflow rules to curb baht

THAILAND’S CENTRAL BANK will take further steps to ease restrictions on capital outflows in coming months as it tries to curb gains in the baht, Governor Veerathai Santiprabhob said.

Justin Bieber says he has been fighting Lyme disease and mono

CANADIAN pop superstar Justin Bieber revealed on Wednesday that he had been battling Lyme disease and a serious case of mononucleosis but said he was overcoming his health issues.

Ghosn joins list of execs fighting extradition

OUSTED Nissan boss Carlos Ghosn says he fled to Lebanon last week to escape a “rigged” justice system in Japan, where he believed he would not get a fair trial.

Drillship reaches Peru exploration well, says PXP

PXP ENERGY Corp. said on Thursday that the drillship for an exploration well in Peru had reached the area for a late January schedule to spud, the listed company told the stock exchange on Thursday.

China’s steadying inflation leaves door open for monetary easing

CHINA’S CONSUMER inflation steadied in December while factory price declines moderated, leaving room for monetary easing to cement a recent stabilization in economic growth.

In my book best of 2019

AFTER THE ANGER that burned through much of 2018 I found films released in 2019 a bit muted — strange considering how much faster, louder, more urgent events in the world have become, from climate-related disasters to the recent escalation in tensions between Trump and, well, everyone else.

Japan language firm eyes new businesses

A JAPANESE language school whose stock soared almost 12-fold last year is planning to expand into new businesses as its chief executive officer tries to keep the rally alive.