February | 2020 | BusinessWorld

BDO books higher net income in 2019 as its core businesses grow

BDO UNIBANK, Inc. saw its net income jump by more than a third in 2019 on the back of core recurring income sources.

Holcim net income surges 41%

EARNINGS of Holcim Philippines, Inc. (Holcim) surged 41% in 2019, driven by improved efficiencies and tempered costs.

CALLING Masaaki Yuasa the new Miyazaki would sound tired, not to mention inaccurate — he’s a little wilder, a little less restrained; calling him Makoto Shinkai’s contemporary would be unfair — he’s so much better (more subtle, less sentimental) than the blockbuster director of Your Name and Weathering With You.

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Wells Fargo workers seek Washington intervention

A CONTINGENT of aggrieved Wells Fargo & Co. workers are taking complaints to Capitol Hill, saying they feel brushed aside by management.

LANDBANK grants reach P94.36B

STATE-OWNED Land Bank of the Philippines (LANDBANK) released a total of P94.36 billion in cash grants to 9,670,434 beneficiaries in 2019 under various social protection programs.

Grab Philippines to complete safety training center for bikers next month

TRANSPORT network vehicle service Grab Philippines targets the completion for the training facility of its motorcycle taxi by March this year.

Your Weekend Guide (February 28, 2020)

THE 3^rd Ortigas Art Festival will run from Feb. 28 to March 8 at the newly opened East Wing of Estancia at Capitol Commons, Pasig.

Overseas traders sell Asian stocks at fastest pace in years

FOREIGN investors are cutting their exposure to Asian markets at the fastest rate in years, as the coronavirus outbreak continues to spread globally.

NMC Health removes CEO amid investigation of UAE firm’s finances

NMC Health has removed Chief Executive Prasanth Manghat with immediate effect and granted its finance chief extended sick leave, as more details emerge from an investigation into the UAE healthcare firm’s finances.

Cebuana Lhuillier looking to increase client base

THE INSURANCE ARM of Cebuana Lhuillier targets to increase its customer base by 127% in the next three to five years and capture almost half of insured population following its transformation

What to see this week

5 films to see on the week of February 28, 2020 — March 5, 2020

Ayala unit funds acquisition of Ilocos Norte wind farm

AC Energy Philippines, Inc. is subscribing to the shares of Giga Ace 1, Inc. to allow the subsidiary to fund its acquisition of the ownership interest of an equity fund in a wind farm in Ilocos Norte.

Family lending

Seventeen years ago, I wrote about the concept of “Family Loans”, inspired by Robert Merton and Zvi Bodie in their innovative text Finance. Whenever I raise the issue in my Finance classes, I realize the concept can benefit today’s millennials. Allow me to revisit the same topic.

Best approach for celebrating worker birthdays

Our current human resources (HR) practice is to release printed birthday cards to those who are celebrating their birthdays during the month. The cards contain the best wishes and greetings of the boss and their department colleagues. However, I find it a bit corny, if not a robotic exercise for me as the new HR manager. Is there a better way? -- Yellow Rose.

History talking

IN COMMEMORATION of the 75th Anniversary of the Battle of Manila, the Memorare Manila Foundation together with the Philippine World War 2 Memorial Foundation...

How PSEi member stocks performed — February 27, 2020

Here’s a quick glance at how PSEi stocks fared on Thursday, February 27, 2020.

Palace orders agencies to eliminate ‘burdensome’ transaction processes

PRESIDENT Rodrigo R. Duterte ordered government agencies to eliminate all processes that are “burdensome to the public,” retaining only those steps that are “necessary to fulfill their legal mandates and policy objectives.”

DBP bags dividend exemption to boost infrastructure lending

THE Development Bank of the Philippines (DBP) has been granted an exemption from remitting dividends to the government in order to step up lending to infrastructure projects.

CITIRA delay seen stalling $12 billion worth of investment

ABOUT $12 billion in investment over two years has been left hanging due to the delay in passing the proposed Corporate Income Tax and Incentives Rationalization Act (CITIRA), a senior House legislator said.

Apo Agua bulk water project to provide service to 70% of Davao City

DAVAO CITY -- Aboitiz-controlled Apo Agua Infrastructura Inc.’s (AAII) P12.6-billion bulk water supply project for Davao City will serve 70% of the urban area when completed in the first half of next year, the city’s water district said.

National task force organized to contain ASF

MALACAÑANG has ordered the creation of a national task force to deal with animal diseases following the spread of African Swine Fever (ASF) in domestic pigs.

Doctors contest guidelines for denial of PhilHealth accreditation

DOCTORS said health insurance fraud is not as prevalent as the Philippine Health Insurance Corp. (Philhealth) suggests, after the latter issued a circular outlining the grounds for denying or withdrawing PhilHealth accreditation.

Bukidnon flood warning system deal signed

THE National Irrigation Administration (NIA) signed an agreement Wednesday with the government weather service, PAGASA, to build a flood warning system in Bukidnon serving Northern Mindanao.

PEZA declares opposition to new ecozone authorities

THE Philippine Economic Zone Authority (PEZA) declared its opposition to measures in the House of Representatives proposing new economic zone and freeport authorities.

NLEX projects traffic volume growth of 7% in 2020 amid new construction

TOLL ROAD OPERATOR NLEX Corp. said it expects this year’s traffic volume at the North Luzon and Subic-Clark-Tarlac Expressways (NLEx, SCTEx) to grow 7%. Luigi L. Bautista, president and general manager of NLEX Corp., told reporters Friday that daily traffic volume in 2019 at NLEx-SCTEx, which are interconnected, was 340,000 vehicles.

Peso rebounds amid virus fears

THE PESO bounced back to the P50-per-dollar level on Thursday despite investors’ flight to safe havens amid the coronavirus disease 2019 (COVID-19) scare.

Index rebounds as investors pick up bargains

THE MAIN INDEX ended its three-day losing streak on Thursday, lifted by activity from bargain hunters, but still failed to break into the 7,000 level.

What is to be done

FROM THE END of the World War II to the early 1970s, the Philippines was commonly reported to be in a pole position economically among the neighboring countries constituting the present Association of Southeast Asian Nations (Asean). Since then, however, we have sharply lagged behind. We are now near the bottom of the pack.

How sweet it is

To most Filipinos who have become only too, too familiar with dishonesty in government, it may look like just another symptom of the corruption that is still metastasizing throughout the civilian and military bureaucracy that then candidate for president Rodrigo Duterte promised to end in 2016.

Restraint

Moderation and restraint are alien concepts in a consumer society. People are calibrated (by others) according to a status rating scale. Material things in glittering packages are impressive. Form over substance. Everything is quantified according to a price index.

Don’t believe them: getting old is horrible

Don’t believe what they say: 50 is not the new 40. Fifty is just 50. It sucks. Sucky. Just downright pure suckage.

Don’t blame Capitalism for shrinking airline legroom

A VIRAL VIDEO of a man punching the back of a women’s reclined airline seat got Delta Air Lines Chief Executive Officer Ed Bastian’s attention. But he made things worse, when he asked flyers to be polite and check with the passengers behind them before hitting the recline button. This angered many people who have watched seats shrink over the years, as airlines try to raise profit margins by packing ever-more paying customers onto their planes.

Coaches welcome efforts to give men’s volleyball more exposure

WHEN the volleyball tournament of Season 82 of the University Athletic Association of the Philippines finally fires off on the rescheduled date of March 3, one conspicuous facet of the offering will be more exposure for the men’s competition.

Esports gains ground in the country with new school-based program

INTERSCHOOL esports in the country is getting a big boost with an agreement that looks to engage more than one thousand teams from over 200 schools with the opportunity to train, compete, be coached, win scholarships and eventually become medal-winning esports athletes.

GM Laylo replaces GM Sadorra in PHL team for Chess Olympiad

THE NATIONAL Chess Federation of the Philippines has tapped GM Darwin Laylo to replace GM Julio Catalino “Ino” Sadorra in the national team competing in the 44^th World Chess Olympiad set August 5 to 18 in Moscow, Russia.

Maria Sharapova, 32, says goodbye to tennis

BERLIN -- Maria Sharapova, the Russian five-time Grand Slam champion who became one of the highest paid sportswomen in the world, announced the end of her career at the age of 32 on Wednesday.

Kaya rues missed chances in nil-nil draw with Tampines

WHILE RECOGNIZING its opponent dominated the game, Kaya FC-Iloilo said it had its opportunities to win in its Group H match against Singapore’s Tampines Rovers in the AFC Cup at the Rizal Memorial Stadium but just could not capitalize on them.

Doncic’s triple-double powers Mavericks past Spurs, 109-103

ALAMO CITY -- Luka Doncic scored 26 points, distributed 14 assists and took 10 rebounds as the visiting Dallas Mavericks made the plays needed in the final three minutes to hold off the San Antonio Spurs 109-103 on Wednesday in the Alamo City.

Standard Insurance-Navy dominates Ronda Stage 5

ANTIPOLO CITY -- Standard Insurance-Navy struck like a lightning and dominated Stage Five where six of its riders headed by George Oconer checked in at the finish together to seize the lead in almost all the categories possible in the LBC Ronda Pilipinas 10^th anniversary race yesterday.

Untouchable

To argue that Jayson Tatum is finally learning how to play to potential would be to understate his production as an offshoot of circumstance. He was certainly a valued commodity heading into the 2017 National Basketball Association draft, with the Celtics bent on claiming him with their pick. They could have chosen anybody, but, their eyes already set on him, instead dealt their first overall slot to the Sixers for the third and a future asset. The deal spoke to both their astuteness and their belief in his capacity to help the cause.

Monthly Archives: February 2020