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Daily Archives: January 20, 2020 | 10:43 pm

Rice imports rise almost 60% in 2019

RICE IMPORTS in 2019 rose nearly 60% to 2.245 million metric tons (MT), according to initial estimates by the Bureau of Plant Industry (BPI), whose estimate is based on imports authorized under its regime of sanitary permits.

Southeast Asia remains FDI bright spot, led by Singapore

FOREIGN direct investment (FDI) in Southeast Asia continued to grow in 2019 even as global investment flows remained flat, the United Nations Conference on Trade and Development Investment Trends Monitor said.

NEDA counting on passage of land use measure, tax reforms this year

THE National Economic and Development Authority (NEDA) said it is counting on the passage of priority bills this year, particularly the remaining tax reform packages and measures regulating land use and enhancing disaster resiliency.
Ernesto M. Pernia

NEDA’s Pernia says marine resources underutilized

SOCIOECONOMIC Planning Secretary Ernesto M. Pernia said marine and coastal resources are underutilized, and called for proper management of the sector known as the “blue economy.”

PEZA building new headquarters on Roxas Boulevard

THE Philippine Economic Zone Authority (PEZA) plans to build a new headquarters on Roxas Boulevard in Pasay City, with construction expected to take three or four years.

Government aligning tariffs with Hong Kong-China free trade deal

THE government is modifying the tariffs on products from Hong Kong, China and ASEAN member states as part of its commitments under a free trade agreement.

Resource persons skip hearings for Disaster Resilience dep’t law

THE Senate hearings on the proposed law to create the Department of Disaster Resilience (DDR) failed to attract key resource persons from various government agencies, a committee chairman said.

Pork imports from Indonesia banned after ASF outbreak

THE Department of Agriculture (DA) has banned imports from Indonesia of domestic and wild pigs and their by-products due to an outbreak of African Swine Fever (ASF) in North Sumatra province.

Agriculture dep’t accredits Germany, US as sources of frozen beef, poultry

THE Department of Agriculture (DA) has granted Germany and the US two-year accreditations to export frozen beef and poultry to the Philippines.

Bill consolidating Customs Modernization amendments due this week

A BILL that will consolidate all measures seeking to amend the Customs Modernization and Tariffication Act (CMTA) will be completed within the week, House Committee Chairman on Ways and Means Jose Maria Clemente S. Salceda said.

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Blessed with income tax incentives, it pays to know your compliance requirements

Sunday was the Feast of the Sto. Niño or the Child Jesus. While attending Sunday mass, we were reminded to be obedient like a child to be more worthy of the kingdom of God. Obey the rules and you will be rewarded.
PSE bells

PSE index sinks as Ayala-owned firms decline

THE MAIN INDEX took a nosedive on Monday due to the slump in Ayala-owned stocks, which followed remarks from the Office of the President regarding one of the company’s properties in University of the Philippines Diliman.
peso dollar bills

Peso weakens on worries over Middle East tensions

THE peso weakened on Monday amid declines in the local stock market and as worries over oil prices arose amid tensions in the Middle East.

LEAD for a Competitive Tomorrow

Dear friends, data is staring us in the face. For the past three years, foreign direct investments have consistently gone down, from $10.3 billion in 2017 to $9.8 billion in 2018, and are projected to fall further to $6.9 billion in 2019, or 33% decrease from the 2017 level. Indeed, our $6.9 billion 2019 FDIs will only be about one-third of Vietnam’s $20.4 billion and nearly one-fourth less than Indonesia’s $24 billion foreign investments in 2019.

President Duterte’s performance and popularity: a contradiction?

Social Weather Stations’ (SWS) survey last December revealed that 76% of Filipinos see many human rights abuses in President Rodrigo Duterte’s war on illegal drugs. The SWS report prompted Philippine Star columnist Boo Chanco to ask on Facebook if people are turning a blind eye to these human rights abuses when they give President Duterte a high rating.

Asian universities and UP Diliman chancellorship

Philippine universities do not seem to fare well even compared to many of their ASEAN neighbors. The Quacquarelli Symonds (QS) world university ranking is a good annual report, its scoring is based on six indicators: Academic peer review, 40%; Faculty/Student ratio; 20%, Citations per faculty; 20%, Employer reputation; 10%, and International student ratio and International staff ratio, 5% each.

A low-maintenance approach

THE PHRASE “low maintenance” is usually applied to landscaping gardens. It is an option offered to a homeowner who can’t be bothered with too much work tending the greenery. It is ideal for some to have a garden that can be left pretty much alone for long periods and requiring little attention. Such daily chores as watering, pruning, and spraying of insecticides are seldom required if at all.

Strengthen policies to help achieve total electrification

RECENTLY, the Department of Energy (DoE) called for comments on the draft Qualified Third Party (QTP) Service Contract and Eligibility Requirement as per Department Circular No. DC2019-11-0015 “Prescribing Revised Guidelines for Qualified Third Party.” These draft issuances are supplemental documents to support the QTP Revised Guideline Policy which the DoE released on November 2019. The QTP Guideline Policy is an initiative that was prescribed in Republic Act No. 9136, otherwise known as the Electric Power Industry Reform Act of 2001, which shall assist the Distribution Utilities (DU) in ensuring and accelerating the total electrification of the country.

Winning never gets old — Kings coach Tim Cone

HAVING won practically everything there is to win in the Philippine Basketball Association, Tim Cone cannot be faulted if he decides to already take it slow. But the league’s winningest coach has signified he is anything but done, more so since he is coaching the Barangay Ginebra San Miguel Kings.

49ers and Chiefs to clash in Super Bowl

LOS ANGELES -- Raheem Mostert rushed for four touchdowns as the San Francisco 49ers beat Green Bay 37-20 to book a spot in the Super Bowl where they will face Kansas City, who advanced to the NFL championship game for the first time in 50 seasons with a 35-24 win over Tennessee on Sunday.

Ceres takes on Port FC in AFC CL Preliminary Round 2

SUCCESSFULLY hurdling its first test in AFC Champions League 2020 last week, top local club football team Ceres-Negros FC looks to sustain its push forward when it collides with Port FC of Thailand in an away Preliminary Round 2 match today in Bangkok.

Osaka tested but into second round; Serena sweeps past a teen but Shapovalov stunned

MELBOURNE -- Defending champion Naomi Osaka overcame a patchy and error-prone performance to advance to the second round of the Australian Open on Monday with a 6-2 6-4 victory over Czech Marie Bouzkova.

New star for 2020

GM Evgeny Shtembuliak was an unfamiliar name to most of us until October last year when the won the World Junior (Under-20) Championship. He started off as the seventh seed with a rating of 2577 behind favorite Tabatabaei of Iran (2642), Murali Karthikeyan (IND 2617), Chithambaram Aravindh (IND 2609), Dmitrij Kollars (GER 2587), Carlos Daniel Albornoz Cabrera (CUB 2581) and Shant Sargsyan (ARM 2580). Then he jumped into the lead right from the start with 3/3 and kept it all the way to the end.

50 years wait

The Chiefs figured the Titans were going to hit the ground running, both literally and figuratively. It was a no-brainer, really. Given the way their opponents blazed the starts of set-tos against the Patriots in the wild card game and the Ravens in the divisional round, they knew the same determined effort would challenge them from the get-go yesterday. And, true enough, they were greeted by a ground attack starring Pro Bowl running back Derrick Henry, who put up 32 yards in the first two series that netted 10 points. With 5:52 still left in the first quarter, they were already down by double digits.

Taal explosive eruption possible as gas builds up

THE NATION’S top seismologist on Monday warned of a sudden explosive eruption as gas continued to build up beneath Taal Volcano, one of the world’s smallest and deadliest.
Ramon M. Lopez

Company gives away 100,000 face masks

A MEDICAL mask maker is donating more than 100,000 face masks to areas affected by the Taal Volcano eruption, the Trade department said in a statement on Monday.

Court orders transfer of massacre suspects to Taguig prison

A QUEZON CITY court has ordered the transfer of two suspects in the massacre of more than 50 people a decade ago to a cell in Taguig City.

Pangasinan to charge profiteers behind new ASF cases

THE PANGASINAN provincial government will investigate the emergence of new African Swine Fever (ASF) cases in two towns and charge those who will be found to have “directly or indirectly” contributed to the situation “just to gain undue profit.”

Duterte calls on Congress to allocate more funds for evacuation centers

PRESIDENT RODRIGO R. Duterte on Monday called on Congress to allocate more money to build evacuation centers in disaster-prone areas.

Iloilo goods, arts featured in ‘Dagyang sa Kapitolyo’ on Jan. 20–26

A WEEK-LONG trade fair featuring products from the different towns of Iloilo province opened on Monday at the capitol compound in time for the Dinagyang Festival, the biggest annual festival of the independent city of Iloilo.

TWG on water supply formed in Zamboanga City

A TECHNICAL working group (TWG) with members from different sectors has been formed to help address water supply issues in Zamboanga City.

Maritime security forces beefed up as Abu Sayyaf strikes again

LESS THAN a week after the military reported the rescue of the last captive of the Abu Sayyaf Group, maritime security forces have again been reinforced as they pursue members of the kidnap-for-ransom gang who abducted five Indonesians fishermen over the weekend.

Another DMCI-Urban condominium project ordered vacated due to ‘major structural cracks’

THE DAVAO City government has ordered the management of the Toledo Building of the Magallanes Residences to vacate all units due to “major structural cracks.”
Bureau of Immigration (BI)

Nationwide round-up

BI calls on foreigners traveling for Chinese New Year to process fees in advance THE BUREAU of Immigration called on foreigners living in the country,...

Nation at a Glance — (01/21/20)

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

Pag-IBIG Fund Calamity Loan ready for members affected by Taal unrest

Top executives of Pag-IBIG Fund announced on Thursday (Jan.16) that they have allocated Calamity Loan funds for 2020 to help members affected by calamities,...

Filipino success still not totally based on hard work, says study

THE Philippines placed 61st among 82 nations in a report measuring social mobility, suggesting that Filipino success does not depend entirely on hard work and is likely to be affected by family and socioeconomic background.

Gov’t seen to have missed GDP goal

THE PHILIPPINE ECONOMY likely grew in the fourth quarter at its fastest pace for 2019 on the back of robust household spending and a rebound in government spending, but not enough to hit its full-year goal, BusinessWorld’s latest poll of economists showed.

Q4 GDP growth likely at 6.6-6.7% — Pernia

THE last three months of 2019 likely saw the economy grow at its fastest pace during the year, amid higher infrastructure spending, private construction and public consumption, Socioeconomic Planning Secretary Ernesto M. Pernia said.

Analysts’ Q4, full-year 2019 growth estimates

THE PHILIPPINE ECONOMY likely grew in the fourth quarter at its fastest pace for 2019 on the back of robust household spending and a...

PEZA expects higher investments if ‘investor-friendly’ CITIRA is passed

THE Philippine Economic Zone Authority (PEZA) is targeting to grow investments by 5-10% this year, amid lingering investor concern over the government’s plan to rationalize incentives.

8990 to sell P2.4-B receivables

MASS housing developer 8990 Holdings, Inc. is looking to sell around P2.4-billion worth of contract-to-sell (CTS) receivables, a local debt watcher said.

Bentley redefines pre-owned car ownership with ‘Certified by Bentley’ global program

BRITISH ultra-luxury car maker Bentley recently launched a new global program that sets the benchmark for purchases of luxury pre-owned cars, and which opens the door into the rarefied world of Bentley ownership.
Court of Tax Appeals logo

Tax appeals court cancels URC’s P2-B assessment

THE Court of Tax Appeals (CTA) cancelled the P2-billion tax assessment against Universal Robina Corp. (URC) for lack of due date and exact amount in the assessment notices.

Rolls-Royce sells highest number of cars ever in 2019

BRITISH ULTRA-LUXURY car maker Rolls-Royce Motor Cars has set a new record as it delivered the highest number of cars in 2019 -- the highest number of automobiles sold in a year in the storied marque’s 116-year history.