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Monthly Archives: February 2020

16 businesses, barangay chiefs fined for garbage segregation violation

AT LEAST 16 business establishments and barangay chairpersons in Tacloban’s downtown area received citation tickets on February 26 as the city’s Solid Waste Management Team made the rounds to monitor the ‘No Segregation, No collection’ policy, the local government reported.

Monitoring station to be set up for Cagayan de Oro River Basin

A MONITORING station will be constructed at the Bubunawan Irrigation Intake Facility in Bukidnon to improve data gathering and flood forecasting for the Cagayan de Oro River Basin.

Magnitude 4.3 earthquake rocks Cotabato Thursday morning

COTABATO, which is still in the midst of rehabilitation efforts for the series of earthquakes in October last year, was rocked by a magnitude 4.3 earthquake Thursday morning, with a reported intensity of 5 in the capital Kidapawan City and Tulunan town.

Nationwide round-up

BANANA EXPORTS to China, the Philippines biggest market in the last two years, is normalizing after a month-long disruption due to the COVID-19 spread, the Pilipino Banana Growers and Exporters Association (PBGEA) said.

Nation at a Glance — (02/28/20)

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

Art pioneering technology

“I think of these virtual reality experiences that we make as ‘empathy machines’…You read it in a book, but we put you there,” said Bernardo, who has seen viewers cry after watching their VR installations.

Lumina recognized as “Top 1 Developer” by Pag-IBIG fund

In a country where real estate has been booming for the last decade, particularly in the luxury residential and commercial segments, one company is...

Tighter capital rules for smaller banks

THE CENTRAL BANK on Wednesday said it would tighten capital requirements on smaller standalone lenders, consistent with international standards that would let these financial institutions continue absorbing losses.

China’s POGO crackdown, coronavirus may dampen PHL office space demand

THE CONTINUED global spread of the coronavirus disease 2019 (COVID-19), coupled with the Chinese government’s crackdown on its citizens employed by Philippine Offshore Gaming Operators (POGO), may dampen office space demand in the country this year.

Offshore gaming operators dominate Philippine office space demand in 2019

THE CONTINUED global spread of the coronavirus disease 2019 (COVID-19), coupled with the Chinese government’s crackdown on its citizens employed by Philippine Offshore Gaming...

Domestic commodity flows contract in Q4

LOCALLY TRADED GOODS declined in the fourth quarter of 2019, the government reported yesterday.
PSE BGC trader

Some prepare for bear market as local stocks sink

PHILIPPINE equities sank the most in four years, and some analysts are already watching out for a bear market.

MPIC takes ‘serious’ review as stocks fail to soar

METRO PACIFIC Investments Corp. (MPIC) needs a serious review of its business holdings amid a politically charged regulatory environment and declining investor enthusiasm in its asset class, company officials said.
Dito Telecommunity

Force majeure an option if virus impedes telco rollout, says DITO

By Arjay L. Balinbin, Reporter DENNIS A. Uy’s DITO Telecommunity Corp. on Wednesday said it has the option to invoke force majeure in case the...

Lawmakers move to act on ABS-CBN franchise issue

SENATOR Franklin M. Drilon has filed the concurrent resolution that will allow ABS-CBN Corp. to continue its operation beyond the May 4 expiration of its franchise, while its renewal is pending in Congress.

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Huawei launches Mate XS foldable smartphone with better screen

HUAWEI unveiled an upgrade to its folding smartphone on Monday, hoping that a faster phone with higher-quality display will encourage consumers to spend as much as $2,700 for the top-of-the-range version.

Duterte accepts apology of network’s president

PRESIDENT Rodrigo R. Duterte said on Wednesday that he had accepted the apology of ABS-CBN Corp. after the top official of the network said in a Senate hearing on Monday that they were sorry if they had offended him.

Game developers group looking to add jobs in computer graphics

THE Game Developers Association of the Philippines (GDAP) wants to create higher-skilled jobs in the outsourcing industry amid the threat of automation.

‘We eat the same things’

CHEF Myke “Tatung” Sarthou, like most people, may well have been content to stay in one place. As it is, however, man has a mandate to move, and despite it being a time of rest for him, he has managed to open two restaurants in less than a year.

Yields on term deposits decline as COVID-19 worries affect rates

YIELDS ON the central bank’s term deposit facility (TDF) continued to decrease despite lower bids on Wednesday as investors remain wary of risks that may arise as the coronavirus disease 2019 (COVID-19) continues to spread and amid signals of another rate cut in the second quarter.

Wilcon allots P2.9B for this year’s spending

WILCON DEPOT, Inc. is earmarking P2.9 billion for its capital spending in 2020, which it will use to fund plans to open more stores, extend existing ones and upgrade old depots.

Google Philippines launches online safety campaign

GOOGLE Philippines has launched a campaign creating a teaching module for high school students nationwide in order to “deepen its ongoing commitment to online safety and responsibility,” according to a press release.

Whiskey from Tibet and organic Champagne among best new booze

EVERYONE loves Paris — even in February, when the City of Light is cold and gray, right?

Hong Kong banks face virus toll on asset quality, loan growth

HONG KONG — Hong Kong’s banks face at least two quarters of worsening asset quality and slowing loan growth as the coronavirus outbreak hits trade and consumer banking, analysts and bankers said.

Draft common tower policy out in March — DICT chief Honasan

THE Department of Information and Communications Technology (DICT) missed again the latest schedule it set for the release of the common tower policy, saying the document could be made public in March.

Intel unveils new data center processor, 5G chip

INTEL CORP. on Monday launched new microprocessors, including a second generation Xeon processor for data centers and a 10nm chip for wireless 5G base stations.

CNN Global names The Test Kitchen among Best New Restaurants in Asia

FILIPINO-BRITISH chef Josh Boutwood, who brought his flair for flavors to Manila as the Bistro Group’s Executive Chef since 2012, has also established himself as a culinary maverick with his progressive concepts such as Helm, Savage, and The Test Kitchen serving up a different, more personalized take on tastes and textures.

UnionBank raises P6.8B from Tier 2 notes issue

UNIONBANK of the Philippines, Inc. has raised P6.8 billion from its sale of debt notes eligible as Tier 2 notes, marking the first issue out of its P20-billion program, according to a stock filing on Wednesday.

Smartphone sales tank in China as coronavirus dampens demand — data

SHANGHAI -- Sales of smartphones in China tumbled by more than a third in January, government data showed on Monday, in a sign of how the coronavirus outbreak is hurting consumer demand.

McDonald’s says spending hit P3B in 2019

MCDONALD’S Philippines reported spending more than P3 billion last year in capital investments to record a double-digit growth in its business.

Movie magic: Spanish La Vista potato chip sales boom on Korean film cameo

ARTEIXO, Spain — Cesar Bonilla is still baffled by a surge in demand for the canned potato chips made by his company in northwestern Spain after they appeared in award-winning Korean film Parasite.
BIR building

BIR clarifies central bank’s income tax exemption

THE BUREAU OF Internal Revenue (BIR) has clarified that the Bangko Sentral ng Pilipinas’ (BSP) tax exemption only applies to the income generated from its governmental functions, as the rest of its earnings are considered proprietary income.

Mapping a virus: South Koreans turn to online tracking as cases surge

SEOUL -- As the new coronavirus spreads in South Korea, private software developers have set up websites and apps to help people track cases and shun places where infected people have been in the hope of avoiding the fast-spreading virus.

Grab Philippines president asks LTFRB to maximize driver slots

GRAB Philippines has called on the Land Transportation Franchising and Regulatory Board (LTFRB) to maximize the slots given by the government agency to the transport network vehicle service.

Roero DOCG 2017 and Roero Riserva 2016

MY NEXT few columns, starting with this one, will look deeper into the wines I blind tasted at the Nebbiolo Prima 2020. For this week I will center on the Roero DOCG wines from vintage 2017, and the Roero Riserva from vintage 2016.

JPMorgan executives say bank is big enough to weather any storm

JPMORGAN CHASE & Co. executives tried to reassure investors on Tuesday that the bank can thrive during times of market and economic stress, due to the sheer size and breadth of its global operations.

How PSEi member stocks performed — February 26, 2020

Here’s a quick glance at how PSEi stocks fared on Wednesday, February 26, 2020.

DTI’s Lopez: multinational HQ decisions driving plant closures

TRADE-SECRETARY Ramon M. Lopez warned that multinationals could continue to rationalize their operations amid trade tensions and epidemics and acknowledged that the Philippines might not be viewed as a significant market by many corporate headquarters.

Cayetano calls for public-works stimulus to offset epidemic

SPEAKER Alan Peter S. Cayetano said economic managers must fast-track infrastructure projects to help cushion the impact of the coronavirus epidemic on the economy, particularly on the tourism sector.

MRT-7 QC Memorial Circle station redesign to be presented Friday

THE Department of Transportation (DoTr) said that it will meet with the Quezon City government and holders of the Metro Rail Transit Line 7 (MRT-7) concession on Feb. 28 after the city suspended construction of a station of the commuter rail line near the Quezon City Memorial Circle (QCMC).

Cold storage firms urged to increase presence near food production centers

AGRICULTURE Secretary William D. Dar said the cold storage industry needs to set up operations nearer food production centers to ensure quality produce and minimize spoilage.
Ilijan Power Plant

SMC power unit open to proposals to settle PSALM obligation

A SAN MIGUEL CORP.-owned power firm told legislators it “welcomes” any proposals to settle its obligations with the Power Sector Assets & Liabilities Management Corp. (PSALM), which its parent company has long disputed.

Economic team to advise BARMM on revenue

THE ADMINISTRATION’S economic managers will represent the national government in the fiscal policy body formed to assist the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) with revenue generation.
fishing boats davao gulf

BFAR tightens watch on vessels operating in distant waters

THE Bureau of Fisheries and Aquatic Resources (BFAR) toughened its regulation of fishing vessels operating in “distant waters,” and sought to establish a monitoring list of such vessels suspected of engaging in illegal, unreported, and unregulated fishing (IUUF).
Department of Trade and Industry (DTI) logo

Infrastructure seen driving growth of IT-BPM, creative industries

THE Department of Trade and Industry (DTI) said Wednesday that infrastructure and innovation were key to ensuring the continued growth of the Information Technology and Business Process Management (IT-BPM) and creative industries.