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Daily Archives: March 5, 2020 | 10:46 pm

Regulators chided for late probe of ‘POGO money’

SENATORS rebuked financial regulators on Thursday for failing to promptly investigate the entry of P19.7 billion ($389.6 million) -- suspected to have been laundered by Chinese criminal syndicates -- into the Philippine financial system last year.

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Third Filipino in HK tests positive for virus

ANOTHER Filipino in Hong Kong tested positive for the new coronavirus strain, bringing the total confirmed cases to three, the Department of Foreign Affairs (DFA) said on Thursday.

House Speaker promises equitable budget for next year

THE House of Representatives will distribute next year’s national budget “equitably” among local government units, congressional districts and agencies, Speaker Alan Peter S. Cayetano said.

Gov’t ordered to explain ex-Maoist leader’s detention

THE SUPREME Court has ordered the government to explain the detention of a former communist leader charged with 15 counts of murder.
Seal of the Philippine House of Representatives

House OK’s bill hiking road user’s tax

THE HOUSE of Representatives has approved on second reading a bill that will increase the road user’s tax and expand funding for the government modernization program for public utility vehicles.

Main index climbs further as Feb. inflation slows

THE MAIN INDEX marked its third day of increase yesterday amid the Philippine government’s report of slower inflation last month.

Peso weakens slightly on February inflation report

THE PESO traded sideways on Thursday on slower-than-expected February inflation which could push the central bank to cut rates sooner rather than later.

Reinventing EDSA 1986

Perhaps the most outlandish lie ever concocted by one of the most notorious disinformation hirelings of the Duterte regime is that the Marcos kleptocracy was overthrown in 1986 because of the “fake news” that the communists and the “yellows” had supposedly been spreading about Ferdinand Marcos, his wife, his family and his government.

Growing old sucks

Actually, the title should have been “growing old sucks ass.” But I flaked out. A sign perhaps that I am not hopelessly old yet, as apparently bits of filter still linger in my head. But, like Ricky Gervais, sometimes I just don’t care anymore.

Correcting the illusion, breaking the myth

This is my inaugural column in BusinessWorld. My profuse thanks to Willy Reyes, BW editor-in-chief, for the opportunity to contribute to discussions in civil society on how best to shape public policy and institutions in the context of attaining high, self-sustaining, and inclusive economic growth.

What is to be done

WE NEED to look long-term -- beyond the six-year presidential term. There are a number of things we need to do and carry over the long term.

The coronavirus is a human credit crunch

IT IS THE FLOW of people, as much as money, that keeps the global economy ticking over. It follows that a sudden halt to the movement of workers, shoppers, and tourists should worry us just as much as the drying up of credit during the global financial crisis in 2008. With fewer obvious quick fixes, the virus outbreak should perhaps concern us even more.

PHL exports could take $300-M hit from coronavirus outbreak

SUPPLY CHAIN disruption in China caused by the outbreak of coronavirus disease 2019 (Covid-19) have the potential to disrupt up to $300 million worth of Philippine manufacturing exports, a United Nations Agency said.

Factory output decline persists in Jan.

FACTORY OUTPUT deteriorated for a 14th consecutive month in January though the rate of decline slowed, the Philippine Statistics Authority (PSA) said.

Fitch Solutions sees ‘demand surge’ buoying energy sector

FITCH SOLUTIONS Country Risks & Industry Research (Fitch Solutions) said the proposed executive order (EO) to permit nuclear power as an energy source suggests “upside” for the entire energy sector in the form of a near-term demand surge for power.
subway concept art

DoTr sees no delay to subway from Japan coronavirus disruptions

THE Department of Transportation (DoTr) said Thursday it will proceed with the implementation of the first phase of the Metro Manila Subway Project, and expects no disruption to the timetable in the form of delayed deliveries from Japanese suppliers due to the coronavirus outbreak in Japan.

Business groups back prompt passage of CITIRA

TEN business and professional organizations asked the 18th Congress to approve the measure lowering the corporate income tax and streamlining fiscal incentives.

Beermen and Hotshots kick off PBA Season 45

THE PHILIPPINE Basketball Association rolls off for Season 45 on Sunday with the San Miguel Beermen and Magnolia Hotshots Pambansang Manok kicking off the season-opening Philippine Cup at the Smart Araneta Coliseum.

PHL battles Greece in Davis Cup World Group II playoffs

THE Philippines will be in Davis Cup action today, taking on World No. 6 Stefanos Tsitsipas and a heavily favored Greece side at the Philippine Columbian Association’s Plaza Dilao courts in Paco, Manila.

WWA: Pro wrestlers set for Philippine visit this month

LOCAL FANS of professional wrestling are in for a treat this month as a newly formed promotion is set to make the Philippines its first publicity tour stop.

Rookies Nisperos, Doromal key in Lady Eagles’ title defense

ATENEO Lady Eagles rookies Faith Nisperos and Roma Mae Doromal made their University Athletic Association of the Philippines seniors debut on Wednesday and the team came away impressed with their performance and deemed them as important pieces as they try to defend their title in Season 82.

Navy’s George Oconer out to extend Ronda Pilipinas reign in next year’s edition

VIGAN -- The triumphant George Oconer and Standard Insurance-Navy are looking to extend their reign when the LBC Ronda Pilipinas goes to Mindanao next year.

Anything can happen

A series of unfortunate events helped the Celtics snatch defeat from the throes of victory the other day. They appeared to be coasting along at home, taking the first quarter by five points, the second by eight, and the third by four against the seemingly disinterested Nets, holders of a dubious streak of four losses. And then, for some reason, fate conspired against them. Even with the visitors keeping just one starter on the court, they found their otherwise-comfortable lead (which went up to as high as 21) being whittled down methodically -- until they had none at the buzzer, and until they couldn’t forge one in overtime.

PwC shares what investors look for in a winning startup

Investors share their thoughts on partnerships and development opportunities in PwC’s Philippine Startup Survey 2020.

IBM Works with the Medical Community to Help Fight the Latest Coronavirus Epidemic

IBM provides its Electronic Data Capture SaaS solution, IBM Clinical Development, free of charge to assist clinical development in the battle against Covid-19.

January finds better quality of jobs, though unemployed ranks grow

LATEST official labor data showed the ranks of Filipinos wanting more work to augment income declined, although those that were left without jobs increased,...
Philippine Statistics Authority (PSA) logo

Inflation slows in February

THE GENERAL INCREASE in the prices of widely used goods and services eased in February due to slower price adjustments in the heavily-weighted food...

TONIK to launch the first digital-only bank in the Philippines

TONIK is powered by BPC The Philippines is about to welcome its first digital-only bank. TONIK Digital Bank Inc, founded in 2018, received its banking...

Factory output decline persists

Factory output posted its 14th consecutive month of decline in January albeit at a slower pace, the Philippine Statistics Authority (PSA) reported earlier this...

By the numbers: the economic impact of outbreaks like Covid-19

Travel and trade have not only expedited our lives, but also the diseases threatening them. We are collectively more vulnerable than ever to the societal and economic impacts of outbreaks by infectious diseases. We break down the numbers behind outbreaks like SARS, MERS, and Covid-19.

DoT maps counter-virus measures

THE Department of Tourism (DoT) is allocating P6 billion to help the domestic tourism industry weather the fallout from the coronavirus disease 2019 (COVID-19) outbreak.

DoF mulls availing of WB loan to fund efforts vs coronavirus

THE government is considering availing a loan package from multilateral lenders to fund efforts to contain the spread of coronavirus disease 2019 (COVID-19) within the country.

‘Total fail’: How communication breakdown broke Ballet Philippines’ leg

IF the Ballet Philippines (BP) controversy was used as a case study in change management, a professor at the Ateneo de Manila University in Quezon City would have given its board an F.

Rice prices expected to fall further

THE Duterte administration expects the price of rice to decline further on the second year of the law lifting import restrictions that brought prices to a seven-year low.

Philippine REIT market may soon rival Thailand, Malaysia

THE introduction of real estate investment trust (REIT) in the Philippines is seen to attract both existing and first-time investors, potentially making the market a rival of Thailand and Malaysia in the next few years.

Senators adopt resolution extending expiring franchises

SENATORS on Wednesday adopted a resolution extending the validity of the franchises that will expire this year in a move that could result in the continued operation of ABS-CBN Corp., Sky Cable Corp. and AMCARA Broadcasting Network, Inc.

WalterMart targets more provincial stores

WALTERMART Supermarket will open at least four stores in 2020 to reach more customers in the provinces.

No Filipino employed in three POGOs with thousands of workers

THREE service providers of Philippine offshore gaming operators (POGOs) employed nearly 10,000 foreign workers, but no job opportunity was given to a single Filipino, data from the state gaming agency showed.

Saving the planet, one dish at a time

How sure are you that your choices when you’re dining out are healthy for the planet?

Liquidity, lending growth pick up

MONEY SUPPLY growth quickened in January following the central bank’s easing stance in the previous year.
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Megawide increases share buyback plan to P5B

MEGAWIDE Construction Corp. is increasing the value of its share buyback program to P5 billion and is switching the duration for the execution to be open-ended.

Hard Rock returns to Makati

HARD ROCK Cafe Manila has come home — sort of — as the second branch of the chain restaurant is back in Glorietta 3, Makati City. It now occupies a new space a floor below its longtime haunt on the third floor of the mall.

Term deposit yields drop

YIELDS ON THE central bank’s term deposit facility (TDF) continued to go down despite lower bids on hints of possible easing from the central bank to cushion the economy against risks from the continued spread of the coronavirus disease 2019 (COVID-19).

ERC approves Meralco’s solar power supply deal

THE Energy Regulatory Commission (ERC) has approved the power supply agreement (PSA) jointly applied for by the country’s largest power distribution utility Manila Electric Co. (Meralco) and Solar Philippines Tanauan Corp. (SPTC).

Discovery Suites Ortigas marks 20th anniversary

DISCOVERY Suites Ortigas, the first hotel of the Discovery Leisure Company, Inc. hospitality group, celebrated its 20th anniversary last month, thus commemorating everything else that followed the hotel’s 2000 opening: the various properties located in Makati, Tagaytay, Boracay, and Palawan.