Home 2020 February 6

Daily Archives: February 6, 2020 | 10:34 pm

Cayetano asks Senate to pass CITIRA soon

SPEAKER Alan Peter S. Cayetano has asked the Senate to act on the Corporate Income Tax and Incentives Rationalization Act (CITIRA), adding that Congress has “limited time” and will adjourn for its Easter break in mid-March.
Department of Budget and Management (DBM) logo

DBM sets priorities for LGU projects

THE Department of Budget and Management (DBM) said local government units (LGUs) have until June to submit their requests for funding under the local government support fund (LGSF) and noted that infrastructure projects will be given priority.

Drugmakers expects long road ahead in coronavirus vaccine race

DRUGMAKERS racing to find a vaccine or effective treatment for the deadly new coronavirus in China cautioned that they have a long way to go.

Iloilo province readying hospital, waste-to-energy proposals for PPP

ILOILO PROVINCE is preparing the concept notes for five projects being proposed for public-private partnership (PPP) implementation.

Malaysia January palm oil stockpiles seen falling to lowest in over two years

KUALA LUMPUR -- Malaysian palm oil inventories likely tumbled to its lowest since June 2017, as dry weather and lower fertilizer usage in the second largest palm producer early last year suppressed output to near four-year lows, a Reuters surveyed showed.

Foxconn projecting full China production resuming in late February

TAIPEI -- Taiwan’s Foxconn aims to gradually restart operations at factories in China next week but it could take one to two weeks from then to resume full production due to the coronavirus outbreak, a person with direct knowledge of the matter said.

Quarantines and travel bans may not stop coronavirus now

CORONAVIRUS is spreading at an accelerating rate, but inappropriate quarantines and travel bans could cause more havoc than the disease itself. The World Health Organization (WHO)has a duty to protect human health, but also an obligation to protect the world’s citizens from the human rights violations or unnecessary economic hardship that panic could cause. So far, they’re doing a good job of striking this tricky balance.

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Indifference kills

It should be more than evident by now that much like its predecessors, doing nothing until things get worse, and then blaming everyone else except itself is what passes for the Duterte regime’s principle of governance. As the last three years of its benighted rule have amply demonstrated, it has neither a sense of urgency nor purpose except power and self-aggrandizement. Only indifference, if not contempt, is what it has for the people it should be serving. But have Filipinos, particularly President Rodrigo Duterte’s die-hard, fact-resistant, untutored hordes, even noticed?

Sleep and dream interpretation

“Sleep, perchance to dream.” -- William Shakespeare, Hamlet

What makes law students special

Of the troubles besetting legal education today, the growing self-centeredness of many law students is most wearisome. The puffed self-conception of being superior to other students, with problems and studies so hard they’re entitled to special status, is not only annoying but problematic. It poses a profound obstacle not only to legal education but also to the legal profession’s development itself.

Trump’s acquittal boxes in Republicans

WITH MITT ROMNEY the sole Republican voting to remove the president from office, the Senate fell well short of convicting Donald Trump on two articles of impeachment today.

Time to look for supply-chain life beyond China

JUST AS THE trade war gloom that weighed on Japan’s machinery makers was lifting, the coronavirus struck. Now what? Any answer must account for the new reality: Supply chains in China are increasingly unstable.

PSC shelves events over outbreak

RECOGNIZING the potential risk of the novel coronavirus (nCoV) getting worse, the Philippine Sports Commission (PSC) on Thursday moved for the postponement of several of its managed events lined up.

Capela trade is finalized with 4-team, 12-player

LOS ANGELES -- The Rockets completed their transformation to a small-ball team, as the four-team trade sending center Clint Capela from Houston to the Atlanta Hawks was officially announced late Wednesday night.

Ceres and Kaya girding for run in AFC Cup

TOP local clubs Ceres-Negros FC and Kaya FC-Iloilo begin their AFC Cup 2020 campaigns next week, looking to make a solid run in the tournament.

Meggie Ochoa: Recent successes a springboard for more achievements

JIU-JITSU in the country had a solid finish in international competitions in 2019, earning 11 medals in the 30th Southeast Asian Games, including five gold ones. It is something that serves as further motivation and a good jump-off point for more achievements moving forward. This was according to bemedalled athlete Meggie Ochoa.

Kings send Dedmon to Atlanta for Parker and Len

LOS ANGELES -- Less than a day away from the NBA trade deadline, the action picked up Thursday night, and once again the Atlanta Hawks were right in the middle of it.

Atlanta Hawks hand Minnesota Timberwolves 13th straight loss

LOS ANGELES -- Trae Young and John Collins each produced a double-double to lead the Atlanta Hawks a 127-120 win over Minnesota on Wednesday in Minneapolis, handing the Timberwolves their 13th consecutive loss.

Dodgers to acquire Betts and Price from Red Sox

LOS ANGELES -- The Los Angeles Dodgers are set to acquire stars Mookie Betts and David Price from Boston Red Sox, multiple media outlets reported Tuesday night.

Spend low, win small

The whiff of the trade that sent Mookie Betts to the Dodgers came midway through what was supposed to be the Red Sox’s season of consolidation. With a World Series victory in their immediate past, they began their 2019 campaign with the promise of continued contention off a largely intact lineup. Unfortunately, they wound up underperforming for a variety of reasons -- and, crucially, despite the efforts of the 2018 American League Most Valuable Player. With the repeater tax slated to add a whopping 50% to the defending champions‘ bill, ownership decided keeping him sans any guarantee of success was not worth the considerable cost.

Duterte not open to new water contract negotiation

PRESIDENT RODRIGO R. Duterte has reiterated that he is not open to negotiations over the revised deals that will be offered to Metro Manila’s two water concessionaires unless they pay consumers back the money collected based on the previous “onerous contracts.”

Peso climbs as equities rebound

THE PESO ended stronger against the greenback on Thursday as global equities and the local stock market continued to recover.

PSE index rises to 7,500 level on firms’ earnings

THE MAIN INDEX continued to gain ground on Thursday to break into the 7,500 level and recover following more than a week of decline.

Former MRT-3 head Vitangcol found guilty of graft

THE PHILIPPINE’S anti-graft court has convicted Al Sanchez Vitangcol III, former Metro Rail Transit-Line 3 (MRT-3) general manager, and his uncle-in-law, Arturo V. Soriano, for graft and violations to the government’s procurement law over the rail system’s maintenance deal in 2012.
Department of Foreign Affairs (DFA)

VFA termination notice ready but DFA still wary

THE DEPARTMENT of Foreign Affairs (DFA) is ready to send the termination notice on the Visiting Forces Agreement (VFA) with the United States, even as the country’s top envoy said such a move would place the Philippines on the “losing end.”

Ban on house workers to Kuwait remains

THE DEPARTMENT of Labor and Employment (DoLE) on Thursday announced the partial lifting of the total deployment ban on overseas Filipino workers (OFWs) to Kuwait, which excludes household service workers.

Clark SEA Games facilities to be used as quarantine site for repatriated Filipinos from...

FACILITIES AT the New Clark City used during the 2019 Southeast Asian Games will be used as quarantine site for Filipinos repatriated from Hubei, China amid the spread of the 2019 novel coronavirus (nCoV).

Solar panels at 1 of Mayon Volcano’s monitoring stations stolen

TWO 150-watt solar panels at the Mayon Rest House monitoring station have been stolen, the Philippine Institute of Volcanology and Seismology (Phivolcs) reported in Thursday.

Iloilo hotels, restaurants see minimal nCoV impact as local travelers keep bookings

THE SERVICES sector in Iloilo, particularly hotels and restaurants, are seeing minimal impact from the novel coronavirus (nCoV) threat as the industry relies more on the local travel market.

Marsman Estate says P90,000/ha offer still stands for over 100 farmers

MARSMAN ESTATE Plantation Inc.’s (MEPI) offer of a P90,000 per hectare (ha) payment annually to 140 banana farmers remains on the table, the export company said.
Salvador C. Medialdea

Nationwide round-up

THE MAKABAYAN bloc in the House of Representatives, with support from the members of the minority, has filed a resolution seeking to investigate the alleged misuse of P300 million in confidential funds in the Department of Information and Communications Technology (DICT).

[B-SIDE Podcast] GDP growth falls to eight-year low in 2019

https://open.spotify.com/episode/3kkmVm2Ll6DXqmquQPwx9Q Follow us on Spotify BusinessWorld B-Side BusinessWorld Editor-in-Chief Willy G. Reyes and Research Head Leo Uy on how and why the Philippines missed its growth...

Jan. inflation fastest in 8 months

THE overall year-on-year increase in prices of widely used goods picked up for the third straight month in January by its fastest pace in eight months, the government reported on Wednesday.

Headline inflation rates in the Philippines (January 2020)

THE overall year-on-year increase in prices of widely used goods picked up for the third straight month in January by its fastest pace in eight months, the government reported on Wednesday.

Social-savvy nation battles coronavirus fake news

A FACEBOOK POST in the Philippines shared more than 2,000 times claimed a coronavirus strain that has killed hundreds in China and sickened thousands more is “a type of rabies.”

Factory output continues slump, down for 13th straight month in Dec.

INDUSTRIAL PRODUCTION extended its declining streak to the 13th straight month in December, the Philippine Statistics Authority (PSA) reported on Wednesday, with economists attributing the continued slump to tepid global demand.

Coronavirus seen to weigh on Asia’s growth in 1st half

THE NOVEL CORONAVIRUS (2019-nCoV) outbreak is seen to weigh on Asia’s economic growth in the first half of 2020, Fitch Solutions Macro Research said on Wednesday.

Phinma targets more schools as it maps global expansion

THE education unit of Phinma Corp. is expanding its global footprint with a plan to acquire more schools in the country and enter new territories abroad.

ERC braces for tight power supply during summer months

THE Energy Regulatory Commission (ERC) has reminded power generation companies, including those that are required to invite competitive bidders for their output, to continue operating in the face of an expected tight supply around April and May.

Like a diamond, the Macallan Edition No. 5 is judged by its color.

THE Edition series was launched by single-malt distiller Macallan in 2015 with the Macallan Edition No. 1, which celebrates its relationship with oak. Every year since, they’ve released a Limited Edition to celebrate qualities present in their whisky. No. 2 celebrates taste (with a collaboration with the Spanish culinary geniuses the Roca brothers), No. 3 presents their expertise in aroma (collaborating with master perfumer Roja Dove, who served as the first Guerlain Global Ambassador outside the Guerlain family), and finally, No. 4 serves to highlight their devotion to craftsmanship.

Iloilo City’s Dinagyang Festival goes 360°

ILOILO CITY — The street dance competition, a staple in Philippine festivals, was elevated in this year’s Dinagyang Festival with the introduction of performances intended for a 360-degree audience.

Samsung Philippines launches Galaxy Note10 Lite, A71 phones

SAMSUNG Philippines on Tuesday unveiled two new smartphones models to cater to working millennials as well as young digital content creators.

Manila Water contract revision to continue despite Razon’s entry, says Justice secretary

JUSTICE Secretary Menardo I. Guevarra said Philippine billionaire Enrique K. Razon, Jr.’s buying of shares in the Ayala Corp. unit Manila Water Co., Inc. will have no effect in the revision of the water concessionaire’s allegedly onerous contract.

Sebastian’s flavors of love

IF YOU’RE going to be stuffing your single face with ice cream on Valentine’s Day, we beg you do it with a little bit of style and dignity, and we suggest you do it with Sebastian’s Ice Cream.

Kaspersky looking to double local sales

INTERNET security firm Kaspersky said helping financial institutions in the Philippines defend their systems and data from threats and attacks is one of its top priorities this year as it targets to double its sales.