Daily Archives: February 9, 2020 | 11:57 pm

NONE OF the 32 Filipinos repatriated from Wuhan, the center of the outbreak of the novel coronavirus from China, showed symptoms of the virus upon arrival, according to the Department of Health (DoH).

DEPARTMENT OF Information and Communications Technology (DICT) Undersecretary Eliseo M. Rio, Jr. is not withdrawing his resignation letter despite the bigger role given to him by Secretary Gregorio B. Honasan II.

THE HEAD of the Employers Confederation of the Philippines (ECoP) said the proposed mandatory 14^th month pay for workers will affect micro enterprises, but exempting them would be unfair to other businesses.

CAPAS Mayor Reynaldo L. Catacutan has reversed his stance on the use of the Athletes Village at the New Clark City (NCC), located in his town, as quarantine site for Filipinos repatriated from Wuhan, the center of the outbreak of the novel coronavirus.

THE BAGUIO City government is “inclined” to approve the proposed extension of the Baguio Blooms Exposition and Exhibition by another month in consideration of the impact of the novel coronavirus threat, Mayor Benjamin B. Magalong said in a statement posted on Saturday.

THE ECONOMY of Bohol -- home to the Chocolate Hills, tarsier, white-sand beaches, and various cultural and heritage sites -- has been driven largely by tourism. And that comes with the strains to the island province’s environment.

THE PROVINCES of Davao Oriental and Surigao del Sur have finalized the settlement of a two-decade old boundary dispute in the towns of Boston and Lingig. Officials of the two provincial governments, in a joint session held in Davao City last week, issued a common ordinance defining the political boundary in the contested area.

THE DEPARTMENT of Labor and Employment (DoLE) is again doing the rounds of establishments that employ foreign nationals, including Philippine Offshore Gaming Operators (POGOs), starting this month to June 30 to check for compliance with local and national laws.

One of the bright spots of the economy under Duterte is said to be the rise in the investment ratio. In the last three years (2017-2019), the average proportion of investment to GDP approached 30%. Compare this with the previous six-year period (2011-2016) when the same ratio averaged 22%.

Much fuss has been raised about the proposed Corporate Income Tax and Incentives Rationalization Act or CITIRA (the erstwhile Tax Reform for Attracting Better and High-Quality Opportunities or TRABAHO Bill), with claims that it affects the mood of investors who now choose to wait and see. What’s not emphasized enough is that much of the uncertainty results from the long-winded process the discussion on this reform takes. Proposals to rationalize fiscal incentives have been filed since the 10^th Congress, mostly in the Lower House, with the Senate joining the fray starting in the 13^th Congress. The push for the reform has been gaining momentum over time, getting much-deserved attention starting the 17^th Congress. It has been more than two decades. The issue has clearly peaked, indicating that the reform is bound to happen. It will serve all sectors better the sooner the law is passed.

Perhaps the question to be asked is not simplistically whether the Visiting Forces Agreement (VFA) is good for us or bad for us, but rather do we need a defense treaty with the US at this time, regardless of feelings over the fact that the US has some strategic advantage for itself by bonding with us? We have to be realistic about our status and capabilities before we thump our chests and bellow to be left alone to our own little devices against the big, cruel world.

Last week, the Sandiganbayan convicted Al Vitangcol III, former general manager of the Metro Rail Transit (MRT) 3, of graft and for violating government procurement laws. Among the incorporators of PH Trams was Arturo Soriano, Vitangol’s uncle-in-law.

ALMOST ALL OF Asia’s central bankers have said the economic risks from the Wuhan coronavirus are significant. Then why aren’t they all taking action?

THE construction of Area A of the common station project in North Avenue, Quezon City is expected to begin this month, the Department of Transportation (DoTr) said.

THE Department of Finance (DoF) said the government should be ready to implement monetary and fiscal measures to cushion the impact of the novel coronavirus (2019-nCoV) citing a study that pointed out the Philippines’ vulnerability to effects of the outbreak.

THE sovereign credit rating upgrade by Japan’s Rating and Investment Information, Inc. (R&I) could spur investment and boost infrastructure development, but more fiscal reforms need to pass before achieving a rating level of “A,” the chief economic planner said.

THE National Grid Corp. of the Philippines’ (NGCP) transparency regarding its operations has become an issue after reports that it has detected 100 cyberattacks, officials said.

GERMAN investors are holding off until they achieve clarity on the direction of tax reform, with a key bill that will determine the future of corporate taxes still pending, a German chamber of commerce official said.

THE European Commission (EC) is expected to increase its focus on Southeast Asia after Germany took over the commission’s top post, German Ambassador to the Philippines Anke Reiffenstuel said.

Board members and Chief Risk Officers (CROs) of banks and other financial institutions have identified cybersecurity as their top short-term (12 months) risk priority. This was revealed in the Tenth Annual Global Risk Management Survey conducted by EY (Ernst & Young) and the Institute of International Finance. Survey participants comprised 94 firms in 43 countries with 23% based in Asia. Cybersecurity emerged at the top spot for the third straight year, considering that it only surfaced as a risk concern in 2015. We see this as a result of rapid technology development and the onslaught of banks embarking on digital transformation journeys in the last five years.