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Daily Archives: February 7, 2020 | 7:42 pm

ALI applies for PHL’s 1st REIT

AYALA Land, Inc. (ALI) has submitted an application to the Securities and Exchange Commission (SEC) for the country’s maiden real estate investment trust (REIT) offer.

Razon company to conduct tender offer of Manila Water shares

MANILA Water Co., Inc. (MWC) incoming investor Razon-led Prime Metroline Holdings, Inc. is doing a mandatory tender offer of the water company’s shares as part of its acquisition.

Travel ban to slow down POGO’s real estate demand

IN A briefing in Makati City yesterday, the real estate consultancy services firm Colliers International Philippines said travel restrictions on China due to the novel coronavirus may lead to a shrinking of the Philippine Offshore Gaming Operators (POGOs) sector and a resultant increase in vacancy rates, especially in the Bay Area.

Jose Mari Banzon appointed president of SMDC

SM Prime Holdings, Inc. has appointed Jose Mari H. Banzon as the new president of its residential property business SM Development Corp. (SMDC).

PHL has policy space to guard vs economic risks — IMF

THE PHILIPPINES has space to adopt expansionary fiscal and monetary policy if risks to economic growth emerge, the International Monetary Fund (IMF) said, even as it expects expansion to improve this year amid downside risks.

R&I upgrades Philippines’ credit rating to BBB+

JAPAN-BASED Rating and Investment Information Inc. (R&I) has upgraded the Philippines’ credit rating on the back of its positive growth performance, healthy fiscal conditions and its infrastructure development drive.

Gross international reserves slip in January

THE COUNTRY’S dollar reserves slipped at end-January as the government paid its foreign exchange obligations, latest central bank data showed.

Prolonged coronavirus outbreak to hurt PHL growth

THE SPREAD of the novel coronavirus (2019-nCoV) is estimated to hurt the economic growth by 0.3% if the outbreak stays longer or until June largely due to impact on tourism sector, according to preliminary estimates by the National Economic and Development Authority (NEDA).

Tourist destinations restrict entry amid coronavirus threat

LOCAL POLITICAL units of areas with popular tourist destinations are imposing restricted entry rules amid the continued threat of the novel coronavirus.

Duterte orders ASF zoning implementation as 2 Davao City villages placed on lockdown

PRESIDENT RODRIGO R. Duterte has issued the order for the implementation of the national zoning plan to contain the spread of the African Swine Fever (ASF).

MSME sanitary inspection to be delegated to local governments

SANITARY INSPECTIONS for small businesses will soon be devolved to local government units (LGUs) from the Food and Drug Administration (FDA), with Quezon City piloting the program.

DoJ orders probe on immigration officials involved in trafficking

THE DEPARTMENT of Justice (DoJ) has ordered a probe on immigration officials allegedly involved in human trafficking and escort services.
Ernesto M. Pernia

Innovation law to improve technology research, dev’t

THE PHILIPPINE Innovation Act set for implementation could improve the innovation environment in the country, Socioeconomic Planning Secretary Ernesto M. Pernia said, with expenditure on science and technology to increase and be in line with its ASEAN peers.

Outsourcing sector facing employability issues

THE outsourcing sector faces employment concerns as it aims for the higher end of its growth projection.

Bill seeks more comprehensive control of drug, medical equipment prices

A LEGISLATOR has filed a bill seeking to lower the price of medicines and medical equipment.

Not enough dairy animals to reach milk self sufficiency

DESPITE the reported increase in the number of dairy animals, this is not enough to reach the desired local milk sufficiency level, the Commission on Audit (COA) said.

IC issues show cause order vs Prime Care Kaagapay Life Plan

THE INSURANCE Commission (IC) has issued a show cause order against pre-need company Prime Care Kaagapay Life Plan, Inc. (Prime Care Kaagapay) on questions of fraud after bank records did not match the company’s claims.
BSP

Banks shun BSP’s rediscount window

BANKS did not tap the rediscount window of the Bangko Sentral ng Pilipinas for the whole month of January.

Peso rises further on rate cut bets

THE PESO strengthened on Friday on prospects of another rate cut this year and amid developments in the trade talks between the world’s two biggest economies.
Pag-IBIG Fund

Pag-IBIG Fund books higher profit

THE HOME Development Mutual Fund (Pag-IBIG Fund) booked a higher income in 2019 on the back of loan payment collections.
PSE

PSEi closes flat as BSP cuts key rates

THE MAIN INDEX maintained its 7,500 support level at the close of the trading week amid a flat turnout after Friday’s session.

Leading accelerator Plug and Play Indonesia onboards local fintech startup PearlPay

Noting PearlPay’s rising success in reaching parallel communities in the Philippines, Plug and Play Indonesia saw the opportunity to extend the digital toolkit PearlPay provides to Indonesia’s over 1,000 rural banks.

Garuda Digital Alliance: Beyond Startups Partnership, A Story of Friendship

"Life as a startup, especially those with less than three (3) years, is about survival. One of the keys to surviving is to ally and to help each other through stormy weather. But life itself is not all about survival, but having a sense of purpose and develop a friendship with the people that we can grow with, people that will help us become a better version of ourselves."
video

Panagbenga 2020: Staying in bloom

https://youtu.be/f5K2tsZzhUQ AS SUNFLOWERS, petunias, bonsai plants, and rose cacti decorate the public spaces in the city of Baguio at this time of the year when...

6 passengers with coronavirus-infected couple show symptoms

SIX FILIPINO passengers who were on the two domestic flights taken by the Chinese couple who tested positive for the novel coronavirus have shown symptoms of the infection, according to the police unit assisting in the contact tracing.

Nation at a Glance — (02/07/20)

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

BSP cuts key rate on virus outbreak

THE Philippine central bank cut benchmark interest rates on Thursday to take advantage of slower price increases and shield the economy from the effects of a deadly coronavirus outbreak.

What’s at stake for the Philippine economy amid the coronavirus outbreak?

A CORONAVIRUS outbreak that has killed hundreds and sickened thousands more in China could dent growth in the next two quarters by an average...

Coronavirus could dent Q1 and Q2 growth by 0.3 point, central bank chief says

A CORONAVIRUS outbreak that has killed hundreds and sickened thousands more in China could dent growth in the next two quarters by an average 0.3 percentage point each, the central bank said yesterday.

Households may see lower power bills in February

TYPICAL HOUSEHOLDS can expect a P118 cut in their monthly bills for February after new power supply deals helped bring down the cost of electricity, the country’s largest distribution utility said on Thursday.

SMC secures $3-B debt program

SAN MIGUEL Corp. (SMC) has secured the registration for its $3-billion (about P152.22 billion) bond program that will finance its infrastructure projects and refinance existing obligations.

BCDA told to redevelop Mile Long for army fund

PRESIDENT Rodrigo R. Duterte has ordered the Bases Conversion and Development Authority (BCDA) to a two-hectare land in Makati City’s central business district into a bankable project that will benefit military personnel.


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Davao medical group seeks nod on P1-B listing

TAGUM Global Medical Center, Inc. (TGMC) has filed an application with the country’s corporate regulator to conduct a P1-billion initial public offering (IPO).

Anti-competitive charge ‘without merit,’ says Manulife Philippines

THE Manufacturers Life Insurance Co. (Phils), Inc. or Manulife Philippines has disputed the antitrust watchdog’s charge that the insurance company participated in anti-competitive agreements.

UPS plans to enhance services to small businesses

LOGISTICS company United Parcel Service, Inc. (UPS) is looking to roll out more service enhancements this year as it aims to boost its support for small and medium-sized enterprises (SMEs) in the Philippines.

Filinvest registers P15-B bonds

FILINVEST Development Corp. (FDC) has submitted its registration statement with the Securities and Exchange Commission (SEC) for its planned offer of up to P15-billion fixed-rate bonds.

Bringing documentaries home

A DOCUMENTARY film festival has successfully reached its fundraising goal to bring home some of the oldest existing documentaries on the Philippines which are stored in the British Film Institute.

ICTSI partners with Taiwan shipping line in Argentina

INTERNATIONAL Container Terminal Services, Inc. (ICTSI) on Thursday said its container terminal in Buenos Aires, Argentina signed a contract with Taiwanese shipping line Evergreen Marine Corp. Taiwan Ltd. to launch shipping service to Asia and the Far East.

Panagbenga 2020: Staying in bloom

AS SUNFLOWERS, petunias, bonsai plants, and rose cacti decorate the public spaces in the city of Baguio at this time of the year when it holds the Panagbenga Festival, visitors learn that neither earthquakes nor viruses can keep a good city down.

PAL readies special Xiamen flights for stranded passengers after ban

FLAG CARRIER Philippine Airlines (PAL) will be deploying “special flights” between Manila and Xiamen on Monday next week to carry stranded passengers after their flights were canceled when President Rodrigo R. Duterte ordered a travel ban.

Reserve Bank of India keeps rates steady, opens door to more easing

INDIA’S CENTRAL BANK left interest rates unchanged for a second straight meeting, while keeping the door open for more easing to support the economy when inflation eases.

Kirk Douglas, Hollywood’s tough guy on screen and off, 103

KIRK DOUGLAS, the cleft-chinned movie star who fought gladiators, cowboys, and boxers on the screen and the Hollywood establishment, died on Wednesday at the age of 103, his son Michael Douglas said.

Mining community backing OceanaGold registers with SEC as dispute continues

A COMMUNITY coalition supporting the Australian firm OceanaGold is registering at the Securities and Exchange Commission while disputes on the mining company’s local operations continue.

Fedcoin? The US central bank is looking into it

PALO ALTO, Calif. — The Federal Reserve is looking at a broad range of issues around digital payments and currencies, including policy, design and legal considerations around potentially issuing its own digital currency, Governor Lael Brainard said on Wednesday.

Former Goldman Sachs banker barred for role in 1MDB scandal

WASHINGTON -- The US Federal Reserve said on Tuesday that it permanently barred a former Goldman Sachs Group Inc. executive from the banking industry over his role in Malaysia’s multi-billion-dollar 1MDB corruption scandal.