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Daily Archives: March 4, 2020 | 11:08 pm


BSP expected to reduce rates by 50 bps more on Covid-19

J.P. MORGAN expects the Monetary Board (MB) to cut rates by a further 50 basis points (bps) this year as part of a broader easing trend across Emerging Asia to shield their economies against the negative impact of the coronavirus (Covid-19) outbreak.

Palace to oversee red tape reduction efforts

THE Anti-Red Tape Authority (ARTA) said the Office of the Executive Secretary (OES) will lead a program to reduce process times for government approvals by more than half.

DoF scrambles to save CITIRA with Senate determined to pass Covid-19 measures

THE Department of Finance (DoF) has once more asked the Senate to prioritize the Corporate Income Tax and Incentives Reform Act (CITIRA) bill just before Congress goes on a seven-week break, to attract more companies seeking a landing spot after exiting China.

Palay farmgate price edges up in late February

THE farmgate price of palay, or unmilled rice, rose 0.4% week-on-week to P16.06 per kilogram (kg) in the third week of February, according to the Philippine Statistics Authority (PSA).
Case with Dollars

House committee to investigate forex imports by travelers

A HOUSE committee has scheduled a inquiry for next week on the influx of foreign currency to determine whether these cash imports by travelers constitute money laundering.

House urged to probe delays in vehicle emissions testing

A LEGISLATOR has called for an investigation into the long delays experienced by vehicle owners when applying for emissions tests.

Japan funds strawberry cultivation, farm tourism project in Silay City

JAPAN has made a grant to support strawberry growers in Negros Occidental and possibly open up their production areas to farm tourism.

Food grown without dirt isn’t organic, farmers say in suit

FOOD ACTIVISTS and farmers sued the Trump administration over its decision to let hydroponic operators use the prized “organic” label.

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Waivers as bilateral agreements

In December, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) 141-2019, reiterating the salient points of Revenue Memorandum Order (RMO) 14-2016 on the proper execution of Waivers of the Defense of Prescription.

Spies in our midst

Intelligence collection and intelligence analysis are key components of the intelligence-gathering discipline. But, gathering intelligence is not always clandestine, does not necessarily entail espionage, or employ subterfuge. At times, in fact, information is freely given or divulged with consent, either through human source, or research in open publication.

A TV network for the common good

I’m a regular ABS-CBN patron. I watch ANC, listen to DZMM, and watch Channel 2 for entertainment and excellent documentaries. I even have TV Plus in the condo. The network is part of my daily life, and I appreciate the services it provides. I’m kapamilya.

TNVS and transport competition

Technology- and app-based transport network vehicle service (TNVS) is cool. It is transparent between the passengers and service providers. Passengers know the fare even before they book and confirm a ride. And after they confirmed the ride, they will know the plate number, driver’s name, etc. of the vehicle that will pick them up. On the part of the drivers, they know the names of their passengers, their cell phone numbers, where they are waiting and their destination, cool.

Ready, aim… post

DEMOLITION JOBS used to employ investigations by the legislature or some regulatory agency aided by biased witnesses. TV coverage of the proceedings (live with no commercial breaks) were aired and then summarized in the next news cycle. Battling narratives were played out until the public got tired and switched back to their teleseryes (soap operas) with more interesting twists and turns, villains and victims, and commercials for pee breaks.

Is Developing Asia ready for the Industry 4.0 Revolution?

SMART TECHNOLOGIES such as artificial intelligence promise to disrupt the long-standing “Asian growth model” that has fueled industrial development in developing Asia. The region must prepare its labor market now for automation and other technologies that may take away jobs -- particularly routine tasks in the global production chain -- as well as pump prime upgraded ones in the new era.

Unlocking the potential for FDI to the Philippines

THE PHILIPPINES has witnessed a rapidly rising trend of foreign direct investment (FDI) inflows since the 2008/09 Global Financial Crisis. FDI increased ten-fold in less than a decade, from around $1 billion in 2010 to around $10 billion in 2018, making the Philippines the most rapidly growing FDI recipient in Asia. This has raised more attention on the country’s potential for FDI inflows as the US-China trade tensions are expected to lead to a wave of industry relocations. However, to benefit from this unique window of opportunity, the country needs to put in place the right policies and reforms to win the battle of attracting FDI against regional peers.

UAAP: NU Bulldogs twice a winner in Season 82 debut

NATIONAL University made an auspicious start to its University Athletic Association of the Philippines Season 82 volleyball campaign with its women’s and men’s teams hacking out victories in their season debuts on Wednesday at the Mall of Asia Arena.

LeVert’s career-high 51 carries Nets past Celtics

BOSTON -- Caris LeVert scored a career-high 51 points, 37 from the fourth quarter on, as the Brooklyn Nets rallied from 21 points down to stun the host Boston Celtics 129-120 in overtime Tuesday.

Oconer, Standard-Insurance top LBC Ronda Pilipinas

VIGAN -- George Oconer crowned himself LBC Ronda Pilipinas king while his squad Standard-Insurance the team champion as the 10th anniversary race drew to a close in front of the provincial capitol here yesterday.

Team PHL earns Athlete of the Year honors at PSA Awards

THE GOLD medal winners of the 30th Southeast Asian Games banner the long list of citations to be handed out during the Philippine Sportswriters Association Annual Awards Night on March 6 at the Centennial Hall of the Manila Hotel.

Saint Benilde Sports and Dorm Building now open

WHAT is hailed as the “new home of the Blazers” is now open with the De La Salle-College of Saint Benilde formally unveiling its Benilde Sports and Dorm Building early this week.

New beast from Baku

The Aeroflot Open is an annual open chess tournament played in Moscow and sponsored by the airline Aeroflot. It was established in 2002 and quickly grew to be the among the strongest open tournaments in the world. First prize for the “A” tournament is €18,000 (about P1 million). The winner is usually invited to the Dortmund superGM chess tournament to be held in Germany later in the year, but for the current edition the organizers announced that this tradition (begun in 2003) has been discontinued.

Knicks’ missteps

The Knicks can’t seem to catch a break. Every time they appear to get ahead, they wind up being waylaid. The problem isn’t that they face more hurdles after clearing some. That’s life. The problem is that the hurdles are being set up by their greatest enemies: themselves. And that’s death. For some reason, they flub opportunities to consolidate the strides they’ve made by then taking turns they should know well enough to avoid. After every step forward, they somehow feel compelled to take two steps back -- putting them in an even worse situation.

PSEi advances on bargain hunting amid concerns

LOCAL SHARES sustained their climb yesterday as investors turned bargain hunters amid the coronavirus disease 2019 (COVID-19) watch.

Peso surges as Fed cuts rates amid COVID-19 fears

THE PESO surged against the dollar on Wednesday after the surprise rate cut from the US Federal Reserve and dovish signals from the Bangko Sentral ng Pilipinas (BSP).
Silvestre H. Bello III

Manila to cut workers to Kuwait on restrictions

THE Philippine Labor department will cut the deployment of workers to Kuwait after the Middle Eastern state started requiring medical clearance from recruits amid a novel coronavirus outbreak that has killed more than 3,000 people, mostly in China.

Duterte repeals fiat shunning aid from drug-critic nations

PRESIDENT Rodrigo R. Duterte has revoked an order he issued last year rejecting loans and grants from 41 countries that backed a probe of his deadly war on drugs, his spokesman said on Wednesday.

Duterte urged to deport unwanted Chinese nationals

AN OPPOSITION senator urged the government of President Rodrigo R. Duterte to deport Chinese criminals with links to offshore gaming companies here and who bribed their way into the country.

Anti-red tape body tags LRA for slow action

THE Anti-Red Tape Authority on Wednesday flagged the Land Registration Authority (LRA) for failing to approve pending transactions with the public on time.

Pasig turns over passenger boats to MMDA; other cities pledge support

THE PASIG City government has formally turned over its two ferry boats to the Metropolitan Manila Development Authority (MMDA), which will be added to the existing fleet for the Pasig River Ferry Service (PRFS).

Oslob resort owners volunteer to demolish ‘illegal’ structures

RESORT OWNERS and residents in Oslob, a southern Cebu town popular for whale shark watching, have committed to voluntarily demolish parts of their structures that have encroached the easement zone.

MinDA partners with Pilmico for sorghum program

THE MINDANAO Development Authority (MinDA) has tapped Pilmico Foods Corp. to help with the marketing strategy for the Sorghum Development Program that aims to develop about 100,000 hectares for the crop.

Davao City business chamber proposes permanent agri inspection and disinfection stations

THE DAVAO City Chamber of Commerce and Industry, Inc. (DCCCII) is proposing the establishment of permanent inspection and disinfection stations in the Davao Region to mitigate and address concerns such as the recent outbreak of African Swine Fever (ASF) and related threats to livestock, poultry and crops.

Nationwide round-up

THE DEPARTMENT of Trade and Industry (DTI) is looking into the adoption of its mentoring program for cooperatives as it absorbs the agency overseeing the sector’s promotion and growth.

Nation at a Glance — (03/05/20)

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

Digital bank Tonik to launch in PH following $6-M funding round

The Singapore-based company aims to capitalize on the country’s huge underbanked population.

Digital Payments Paving the Way for a Cashless Future

The financial technology (FinTech) sector has grown by leaps and bounds in recent years, owing to the Philippines’ vibrant startup community and strong economic...

Award-winning communication programs for customers, community and country

Meralco and One Meralco Foundation (OMF) won nine (9) trophies at the recently-held 55th Anvil Awards. Four (4) Gold Anvils were awarded to campaigns...

FDI may decline amid virus fallout

FOREIGN direct investments (FDI) in the Philippines may dwindle this year as companies around the world suspend their expansion plans amid a coronavirus disease 2019 (COVID-19) outbreak that threatens global growth, according to Philippine central bank Governor Benjamin E. Diokno.

How large is the extent of ‘trade misinvoicing’ in the Philippines compared with those...

THE Philippines was one of the largest sources of illicit trade-related flows in 2008 to 2017 among developing countries transacting with advanced economies, according...

Report shows ‘deliberate’ trade misinvoicing still a problem for Philippines

THE Philippines was one of the largest sources of illicit trade-related flows in 2008 to 2017 among developing countries transacting with advanced economies, according to a report by Washington-based think tank Global Financial Integrity (GFI).

AMLA amendments needed to avoid sanctions

AMENDMENTS to the Anti-Money Laundering Act (AMLA) and the Human Security Act (HSA) should be passed before October to avoid sanctions from the global anti-money laundering watchdog, according to Bangko Sentral ng Pilipinas Governor and Anti-Money Laundering Council (AMLC) Chairman Benjamin E. Diokno.

Duterte prescribes ceiling for rising drug prices

ERLINDA ANTONIO (not her real name), 57, commutes for two hours and waits in line to buy medicines for her benign breast tumor at the Philippine General Hospital in Manila, where drugs are sold for a fraction of their cost.

PECO moves to stop takeover of power assets

PANAY ELECTRIC Co., Inc. (PECO) has asked the Court of Appeals in Cebu to stop the take over of its power distribution assets in Iloilo City by MORE Electric and Power Corp. after a local court issued a writ of possession in favor of the Razon-led company.

Hyundai car sales fall 27.6% amid ash fall, virus

HYUNDAI Asia Resources Inc. (HARI) vehicle sales dropped 27.6% in January as consumer demand fell because of the Taal Volcano ash fall and the new coronavirus (COVID-19) outbreak, the local distributor of the South Korean carmaker said on Tuesday.

Cemex inks loan deal with two subsidiaries

CEMEX Holdings Philippines, Inc. has signed a loan facility with two of its subsidiaries using the proceeds from its recently concluded stock rights offering (SRO).