Home 2020 February 11

Daily Archives: February 11, 2020 | 11:05 pm

LRT-2 extension 77% complete

THE Department of Transportation (DoTr) said the East Extension of the Light Rail Transit Line 2 (LRT-2) nearly 77% complete, with two new stations being built in Marikina and Antipolo expected to be finished by the end of the year.

nCov expected to dent consumption in 2020

A PROLONGED novel coronavirus (nCoV) outbreak will hurt public consumption but a rebound in capital formation is expected to drive growth this year, an ING Bank economist said.

LNG scarcity scenario viewed as far-fetched, First Gen says

THERE is a low probability of liquified natural gas (LNG) supplies running low because of multiple potential sources worldwide, First Gen Corp. Vice-President Jerome H. Cainglet said.
Department of Budget and Management (DBM)

Gov’t agencies’ 2019 fund utilization unchanged at 97% despite budget delay

THE FUND utilization rate posted by government agencies remained at 97% in 2019, despite the delayed budget passage last year, according to the Department of Budget and Management (DBM).

Government take since Mile Long takeover at nearly P205 million

THE government generated a net P205.76 million from rents and parking fees from the Mile Long property in Makati, more than two years after it was vacated by the former leaseholders.

China firms cut staff on virus outbreak as Xi vows no large-scale layoffs

SHANGHAI -- A Chinese media company said it will lay off 500 employees due to the coronavirus outbreak, the latest among a string of firms to do so in the past two weeks as the epidemic takes a toll on small-to-medium sized businesses.

Landfill limitations seen as cue for WTE

WASTE LEVELS are estimated at nearly 22 million tons next year, growing 4% from current levels, making waste-to-energy facilities a “compelling” option, an environment official said.
construction infrastructure Ormoc

Right-of-way still a bottleneck despite new law, think tank says

RIGHT-OF-WAY acquisition remains the bottleneck in implementing government infrastructure projects, the Congressional Policy and Budget Research Department (CPBRD) said.

European Union to invest in ASEAN green-infrastructure fund

THE European Union (EU) is planning to invest in a program to develop green infrastructure in the Association of Southeast Asian Nations (ASEAN), known as the ASEAN Catalytic Green Finance Facility (ACGF), committing 50 million euros, the Asian Development Bank (ADB) said.

‘Owning’ the Cure: Patent rights in the midst of an outbreak

As early as Dec. 31, 2019, the World Health Organization (WHO) was informed of the steadily increasing number of cases of pneumonia of unknown etiology detected in Wuhan City, Hubei Province of China. Over the next three weeks, researchers connected the spread of the outbreak to a market in Wuhan City and identified the cause of the contagious and potentially fatal respiratory disease to be a new type of coronavirus, which is now infamously known as the Novel Corona Virus (2019-nCoV).

Scrapping the VFA would have consequences!

During the senate hearing reviewing the 1999 Philippine-US Visiting Forces Agreement (VFA), Foreign Affairs Secretary Teodoro Locsin, Jr. discussed the adverse consequences of the agreement’s abrogation. He enumerated the security, trade, and economic benefits that the VFA has provided the country since 1999. The VFA is a Status of Forces Agreement, which provides the legal regulatory mechanism for the treatment of US military and civilian personnel during military exercises and conduct of Humanitarian Assistance and Disaster Relief (HADR) operations in the Philippines.

Bully statesmanship

Perhaps his dosage of the powerful pain killer Fentanyl has peaked, because it looks like President Rodrigo Duterte has gone on a wild rampage of using his powers to demonstrate his machismo against icons in business and international politics. First, it was against the water concessionaires: the Ayalas’ Manila Water and Metro Pacific’s Maynilad Water. This was followed soon enough by his foreign policy statement when the US visa of his friend Bato de la Rosa was canceled, that he would abrogate the Visiting Forces Agreement, a part of the Mutual Defense Treaty with the United States of America. Rappler, the online independent media company, continues to be under threat. And now, it is the ABS-CBN franchise which he has vowed to cancel.

On gaining media exposure

Several years ago, I listened to a talk given by an editor of the San Francisco Examiner on how to package a story to give it half a chance of being published in the US papers. The session was held at the Philippine Consulate in San Francisco on the initiative of FilAm community leaders who had bewailed the lack of presence of Filipinos in the mainstream media.

Our decadent energy system needs renewal

LIKE MANY of you, I’m sure, I read Ross Douthat’s essay on “The Age of Decadence” in Sunday’s New York Times while sprawled on a chaise, picking at my smashed avo and laudanum. Stirring from the languor, I wondered: How does energy fit with this thesis?

$3 trillion can’t buy China out of virus trouble

ASIA’S EMERGING-MARKET currencies are sliding as the coronavirus outbreak threatens to slow the region’s economy and drives outflows into the dollar. Investors may consider the region’s copious foreign-exchange reserves to be a buffer against severe economic dislocation, capital flight, and currency fluctuations. That would be a mistake.

New-look Kaya plunges into AFC Cup action vs Shan Utd

LOCAL CLUB Kaya FC-Iloilo parades its recalibrated roster when it begins its AFC Cup 2020 campaign in an away match today against Shan United FC in Myanmar.

Clarkson and Jazz hold off Mavs for third straight win

DALLAS -- Jordan Clarkson scored 25 points and dished out eight assists off the bench to lead the Utah Jazz to a 123-119 victory over the host Dallas Mavericks on Monday night.

Ceres opens AFC Cup bid with win over Svay Rieng

CERES-NEGROS FC kicked off its AFC Cup 2020 bid on a high note, beating visiting Preah Khan Reach Svay Rieng FC of Cambodia, 4-0, in their Group G match on Tuesday at the Rizal Memorial Stadium.

Peso climbs versus dollar ahead of Powell testimony

THE PESO strengthened on Tuesday as the market anticipates a dovish US central bank amid risks to the global economy.
PSE bells

Main index inches higher on bargain hunting

THE MAIN INDEX edged higher on Tuesday as bargain hunters gave the market a lift before the session’s close.
Rodrigo R. Duterte

Duterte ends troop agreement with United States

PRESIDENT Rodrigo R. Duterte formally notified the US of his decision to pull out of a military agreement on the deployment of troops for war games, the first time he has scrapped a military deal with the former colonial power that he had criticized for treating the Philippines “like a dog on a leash.”

Airlines cancel Taiwan flights on coronavirus

PHILIPPINE Airlines, Cebu Pacific and AirAsia yesterday suspended flights to Taiwan after the Immigration bureau said it was included in the Philippines’ travel ban to contain a novel coronavirus outbreak.

Government urges local travel amid outbreak

PRESIDENT Rodrigo R. Duterte will join a domestic travel campaign starting next week to convince Filipinos to visit local spots in the face of an international tourism decline because of a novel coronavirus outbreak.

1st self-storage facility opens in Cebu

THE FIRST self-storage facility in Cebu province, located along Sacris Road in Mandaue City, was recently opened with more than 1,000 units for rent.

Over 38,000 kg of pork, products seized at Western Visayas main ports in 2019

QUARANTINE AUTHORITIES continue to implement strict screening measures at airports and seaports in the Western Visayas Region to protect the hog industry from the African Swine Fever (ASF), with the ban on pork and pork products extended to those coming from the Davao Region in addition to the entire Luzon mainland.

3 farm-to-market roads completed in Lake Sebu

THREE farm-to-market roads and two bridges have been completed in the town of Lake Sebu, which is seen to primarily benefit farmers in the village of Ned.

BARMM gets initial P5.3B under block grant

THE BANGSAMORO Autonomous Region in Muslim Mindanao (BARMM) government has received an initial P5.3 billion from its P63.6-billion block grant for this year, Assistant Executive Secretary Abdullah Cusain announced Tuesday.
Professional Regulation Commission (PRC) logo

Nationwide round-up

THE NATIONAL Economic and Development Authority (NEDA) has proposed the creation of a Department of Economics and Development Planning (DEDP) to strengthen the government’s planning system.

Nation at a Glance — (02/12/20)

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

UAAP touts exciting, competitive volleyball action in Season 82

AN exciting and competitive volleyball action is in store when competition in Season 82 of the University Athletic Association of the Philippines unfurls beginning on Feb. 15.

PHL women’s team falls to Thailand in badminton opener

THE Philippine women’s badminton team fell to the Thailand squad, 5-0, in its first outing in the preliminary round of the Badminton Asia Team Championships which got under way on Tuesday at the Rizal Memorial Coliseum.

Pele is depressed, reclusive due to health issues, says son

SAO PAULO -- Brazilian soccer great Pele is depressed over his poor health and reluctant to leave the house because he cannot walk unaided, his son Edinho said in an interview published in Brazil on Monday.

Mineski Global and PCCL sign pact for collegiate esports partnership

MINESKI Global, the pioneer esports company in Southeast Asia, recently signed a landmark contract with the Philippine Collegiate Champions League (PCCL) to create a sustainable, consistent, and widely accessible esports program exclusively for Philippine schools and universities.

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Two towers less

When Season 45 of the Philippine Basketball Association unfurls on March 8 the landscape will be different as two of its “towers” are not around. And I mean that literally.

Ready, willing, able

For much of the 2019–20 season, the Raptors have had to prep for matches without a full roster. In this regard, yesterday was the same old, same old for them: While All-Star Kyle Lowry managed to play after missing a game over the weekend in compliance with the league’s concussion protocol, fellow starter Serge Ibaka wound up staying in the sidelines due to flu-like symptoms. Still, their mindset stayed the same as they prepped to host the Timberwolves. They’re the defending champions, and, regardless of circumstance, they have more than enough to win.

E-commerce enabler Great Deals raises Php 600 million from Navegar

Great Deals plans to use the funds on capital investments, aiming to be the Philippine Alibaba and Baozun, China’s leading e-commerce enabler.

Mastering the basics and gearing up for the SMART City revolution

Master the basics first. That was one of the core messages emphasized last Friday at the sidelines of the 3rd GAIN National Convention. Its organizer,...

Export growth strongest in more than two years in December

OVERSEAS SALES of Philippine goods grew at its fastest pace in more than two years in December, narrowing the country's trade deficit that month...

November FDI flows sustain rally

FOREIGN DIRECT INVESTMENTS (FDI) continued to recover for the second straight month in November after months of drought, though still down during the 11-month period from a year earlier, according to the Philippine central bank.

OSG asks high tribunal to cancel ABS-CBN franchise

THE country’s chief government lawyer has asked the Supreme Court to revoke the franchise of a media network critical of President Rodrigo R. Duterte, accusing it of “highly abusive practices.”

Outsourcing subsectors cut growth targets through 2022 amid hurdles

SEVERAL outsourcing subsectors cut their revenue targets across-the-board after the industry lowered its growth figures under a road map through 2022 due to geopolitical challenges, protectionism and automation.

PSE revises composition of three sectoral indices

THE Philippine Stock Exchange, Inc. (PSE) on Monday said it would remove companies from a list that determines three sectoral indices.
Megawide logo

Megawide maps land transport terminal expansion to provinces

MEGAWIDE Construction Corp. is looking to expand its operation of land transportation terminals to the countryside with a few invitations from provincial governments, its top executive said.

South Korea’s Parasite makes Oscar history with best film win

LOS ANGELES (Reuters) — South Korean social satire Parasite won the Oscar for best picture on Sunday, making history as the first film not in the English language to win the movie industry’s highest honor.

Dampened appetite for condos in Davao City seen as short-term

DAVAO CITY -- Major damage in some condominium buildings in Davao City caused by the series of earthquakes in October and December last year has dampened demand, but horizontal housing projects are benefiting as buyers and renters look to apartments and single-detached houses, according to a real estate consultancy firm.