Home 2020 January 17

Daily Archives: January 17, 2020 | 10:03 pm

Barangay Ginebra back as king of the PBA Governors’ Cup

THE Barangay Ginebra San Miguel Kings are once again Philippine Basketball Association Governors’ Cup champions after closing out their best-of-seven finals series with the Meralco Bolts with a 105-93 victory in Game Five on Friday at the Mall of Asia Arena in Pasay City.

BSP has space to ease monetary policy — Diokno

THE Bangko Sentral ng Pilipinas (BSP) has enough “monetary space” amid easing by central banks around the world, BSP Governor Benjamin E. Diokno said on Friday.

Damage from Taal hits P3 billion; fisheries most affected

DAMAGE from the eruption of Taal Volcano has reached P3 billion, with the fishery sector suffering the most devastation, the Agriculture department said on Friday.

Jollibee raises $600M from offshore debut

JOLLIBEE Foods Corp. (JFC) raised $600 million from a landmark sale of perpetual securities in its offshore capital market debut, restocking its chest after buying the company behind US specialty chain Coffee Bean & Tea Leaf (CBTL).

Duterte bans worker deployment to Kuwait

PRESIDENT Rodrigo R. Duterte has approved a total deployment ban of overseas Filipino workers to Kuwait after a Filipina housemaid there died allegedly in the hands of her employer.

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Duterte names new police chief

PRESIDENT Rodrigo Duterte on Friday said he would appoint officer-in-charge Lieutenant General Archie Gamboa as his next police chief, ABS-CBN News reported.

Care of kids affected by Taal eruption sought

ABOUT 21,000 children living within Taal Volcano’s 14-kilometer danger zone were affected by its eruption, according to the United Nations Office for the Coordination of Humanitarian Affairs.

Solicitor general told to let Congress handle ABS-CBN issue

A CONGRESSMAN on Friday urged the Office of the Solicitor General not to question the franchise of ABS-CBN Broadcasting Corp. at the Supreme Court, saying this could be seen as “government harassment.”

Coronavirus strain found in Japan

JAPAN has detected a new strain of coronavirus that originated in Wuhan, China, days after Thailand confirmed its first case of infection, according to the World Health Organization (WHO).

BSP’s Diokno dismisses banking-sector risk from POGOs

BANGKO Sentral ng Pilipinas Governor Benjamin E. Diokno dismissed the risks to the banking system posed by online gaming firms, adding to his long-standing position that the Philippines can easily do without the industry.

TIEZA backs ‘rationalizing’ travel tax after DoF threat

THE Tourism Infrastructure and Enterprise Zone Authority (TIEZA) said it accepts the need to “rationalize” the travel tax a day after the Department of Finance threatened to take it away due to alleged underspending by the agency.
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Residential sector leads decline in construction starts

CONSTRUCTION starts, as measured by approved building permits, fell 3.1% year-on-year in the third quarter, dampened by reduced applications to build residences, the Philippine Statistics Authority (PSA) said Friday.

PEZA considering ITH extensions for disaster-affected locators

THE Philippine Economic Zone Authority (PEZA) may push back the expiration date for income tax holiday (ITH) incentives enjoyed by locators in areas affected by the Taal Volcano eruption.
Asian Development Bank (ADB)

New ADB president assumes office

THE Asian and Development Bank (ADB) said its new President Masatsugu Asakawa assumed office on Friday.
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DPWH announces completion of projects in Isabela, Leyte, Zamboanga

THE Department of Public Works and Highways (DPWH) said Friday that it completed a P122-million flood control structure in Isabela, a P34-million river wall in Leyte, and a P6-million farm-to-market road in Zamboanga del Norte.

Palay farmgate prices slightly higher in late December

THE average farmgate price of palay, or unmilled rice, rose 0.1% week-on-week in the third week of December to P15.66 per kilogram (kg), the Philippine Statistics Authority (PSA) said.

Southern Capital partners with The Table Group

THE Philippine operator of California-based Coffee Bean & Tea Leaf (CBTL) has partnered with Singaporean firm Southern Capital the details of which have yet to be disclosed by the partners.

Pilipinas Shell says Batangas oil refinery operating safely after Taal eruption

PILIPINAS Shell Petroleum Corp. (PSPC) said on Friday that its oil refinery in Batangas province continues to operate safely while its retail stations serve as emergency response sites while Taal Volcano is erupting.

Reduced interest rate reporting for banks take effect this month

THE Bangko Sentral ng Pilipinas (BSP) said the reduced reporting requirements for banks on their interest rates on loans and deposits (IRLD), eliminating daily reports from the industry’s regulatory obligations, take effect this month.

Peso weakens slightly on lack of clarity from US-China trade deal

THE peso moved sideways on Friday on the back of a “disappointing” US-China phase one trade deal and as big data releases next week pushed investors to the sidelines.

Local stocks recover on positive foreign news

PHILIPPINE shares recovered on Friday due to favorable developments in the international scene.

CCP’s Lizaso elected as NCCA chairperson

AFTER a mix up last year when Malacang said it had appointed him to the post even though it had no power to do so, the National Commission for Culture and the Arts (NCCA) elected Arsenio “Nick” Lizaso, the current president of the Cultural Center of the Philippines (CCP), as its new chairperson, replacing National Artist for Literature Virgilio S. Almario whose term in the post has ended.

How to structure your day like a professional freelancer

For every productive day we power through, there are dozens plagued with unnecessary meetings and hours lost to scrolling through timelines. VA Bootcamp’s Jason Dulay shares three tips for breaking the cycle and supercharging your productivity.

SSS: Ursula-stricken members, pensioners may now avail of Calamity Assistance Package

The state-run Social Security System (SSS) on Friday said members and pensioners who were affected by Typhoon Ursula last December 2019 may now avail...

Residents near volcano allowed to save belongings

PHILIPPINE authorities allowed residents near Taal Volcano, whose eruption since Sunday forced thousands of people to evacuate, to return home to save their livestock and belongings.

BoI investment pledges hit P1.14-T

THE BOARD of Investments (BoI) approved a record P1.14 trillion in investment pledges last year, thanks to the country’s strong fundamentals and steady business and consumer confidence, the Trade department said on Thursday.

‘Hot money’ leaves PHL in 2019

MORE FOREIGN funds left than entered the country last year as global uncertainties took a toll on investor sentiment in the Philippines and other emerging economies.

Property owners count risks as Taal Volcano keeps rumbling

FIVE YEARS AGO, Jack, a 71-year-old retired physician, bought a two-story house worth P11 million in the upland town of Alfonso in Cavite province, 16 kilometers away from one of the world’s smallest and active volcanoes -- Taal Volcano.

Taal eruption’s impact on inflation to be minimal — DoF

THE Department of Finance (DoF) assured that the inflationary impact of Taal Volcano’s eruption will be minimal and manageable, its top official said Thursday.
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Antitrust body to ease rules for unsolicited PPP joint ventures

THE Philippine Competition Commission (PCC) has drafted a circular that exempts from compulsory notification the joint ventures (JVs) of private entities formed for an unsolicited public-private partnership (PPP) project.

Cavite, Laguna, Batangas seen to grow further

INDUSTRIAL activities in the areas of Cavite, Laguna and Batangas are seen to rise in the next two years, driven by improved connectivity and the growing commercial landscape in the south, real estate services firm Colliers Philippines said.

China’s blockbuster lineup signals tough year for Hollywood

CHINA’S biggest week of the year for movie-goers is packed with at least 12 new releases — all in the local language — a sign that Hollywood studios are headed for another challenging year in their No. 1 overseas market.

Arthaland fined for not updating website

ARTHALAND Corp. said it has paid the Securities and Exchange Commission (SEC) P130,000 for failing to comply with its website template guidelines.

Sun Life hits five million clients as millennial market expands

SUN LIFE OF Canada (Philippines), Inc. has hit its customer target one year ahead of its initial plan and is now looking at deepening its relationships with its existing client base for the next few years.

Star Trek return ‘irresistible,’ says star Patrick Stewart

LONDON — Sir Patrick Stewart said returning to Star Trek was irresistible as he led a new generation of cast members down the red carpet for the premiere of a series devoted to his much-loved character Jean-Luc Picard.

Higher expenses weigh down FEU net earnings

FAR Eastern University, Inc. (FEU) posted slightly lower earnings at P460.98 million in the second quarter on the back of higher expenses and a slow growth in revenues.

Gov’t contractual workers given up to P3,000 gratuity

PRESIDENT Rodrigo R. Duterte has authorized gratuities for government employees hired under job-order (JO) and contract-of-service (COS) work arrangements for 2019.
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BIR issues rules on BSP’s tax exemption

THE BUREAU OF Internal Revenue (BIR) has issued the implementing rules and regulations (IRR) for the central bank’s tax exemption from all national taxes under its amended charter.

Love in a time of Climate Change

THE PAST few years have seen a glut of Filipino romantic films — from comedies to dramas to everything in between — and with their sheer number, it isn’t hard to predict tropes as old as time that they will use: they meet, they fall in love, they argue, they break up, and they may or may not get back together again but either way they become “better versions” of themselves after the affair.

‘Smile with your eyes’: How to beat AI hiring bots and land a job...

SEOUL -- In cram school-obsessed South Korea, students fork out for classes in everything from K-pop auditions to real estate deals. Now, top Korean firms are rolling out artificial intelligence (AI) in hiring -- and jobseekers want to learn how to beat the bots.

Businesses told to grab export and tourism opportunities as Davao-Manado travel rises

DAVAO CITY — Export and tourism opportunities are growing as more Indonesian businessmen have been travelling to Mindanao through the Davao-Manado flights of Garuda Indonesia Airline, a route that will also be served by Philippine Airlines (PAL) by end-March, according to an official of the Mindanao Development Authority (MinDA) said.

Bangko Sentral net income slips at end-November

THE CENTRAL BANK’S net profit as of November slipped compared to the previous year as gains from currency fluctuations decreased.

Imelda docu premieres at CCP

EMMY Award–winning filmmaker/photographer Lauren Greenfield’s critically acclaimed documentary about Imelda Marcos, The Kingmaker, will have its Philippine premiere on Jan. 29, 7:30 p.m., at the Tanghalang Aurelio Tolentino at the Cultural Center of the Philippines (CCP), with matinee screening at 3 p.m.