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Government urged to phase in teacher pay hike

BUSINESS groups said the government should implement any pay hike for public school teachers in phases in order to keep inflation contained and not hinder the government’s other spending priorities.

Over $200M Japan loan signed for Mindanao road projects

THE Philippines signed a $202.04 million loan agreement with Japan to fund the Road Network Development Project in Conflict-Affected Areas in Mindanao late Tuesday.

MORE investment liberalization needed

Four reports in BusinessWorld last week seem to show a confusing investment environment of the Philippines:

Quezon’s quest

Earlier this year, I had the privilege of visiting Israel. Through our pastor’s teachings and our tour, I learned how President Manuel L. Quezon accepted about 1,300 Jews facing persecution in Germany and Austria. The lesson became more real to me when we visited the Yad Vashem Holocaust History Museum, Israel’s official memorial to the Holocaust victims.

New POC head determined not to have 30th SEA Games preparations...

WHILE the sudden resignation of Ricky Vargas as Philippine Olympic Committee (POC) president on Tuesday left questions over the country’s preparations as host of the 30th Southeast Asian Games later this year, the man who was tasked to replace him expressed determination to work to have little disruption in the buildup as possible.

Ceres looks to regroup after 1-1 draw with Hanoi

FAILED to come up with the victory in the first leg of its 2019 AFC Cup ASEAN Zonal semifinals on Tuesday night in Bacolod City, Ceres-Negros FC now looks to regroup and finish the job in the next game.

Duterte to decide on speakership contest

PRESIDENT Rodrigo R. Duterte is set to decide by June 28 on the candidate he will endorse for the House speakership, according to Senator-elect Christopher Lawrence T. Go.

Pag-IBIG defends pay ‘increments’ as aboveboard

THE HOME Development Mutual Fund (Pag-IBIG) in a statement on Wednesday defended the pay raise for its officers and employees as “merely salary step increments to address years of inflation,” not salary increases which require approval from Malacañang.

ADB to work closely with WB on PHL projects

THE Asian Development Bank (ADB) will work closely with the World Bank (WB) in developing projects for the Philippines and other countries in the Asia and Pacific region, responding to a call made by the Department of Finance (DoF) earlier.

Local property mart ready for REITs

THE Philippine property market is well-prepared for the introduction of real estate investment trusts (REITs), as demand for more office spaces, residential projects, and commercial centers complements regulatory authorities’ willingness to amend rules that initially hampered its implementation.

Multisys ready to expand overseas

SOFTWARE development and IT solutions provider Multisys Technologies Corp. is preparing to expand to three countries before the end of the year.

‘Poor Little Rich Girl,’ fashion icon, heiress Gloria Vanderbilt, 95

IS IT possible for anyone to truly have it all? Gloria Laura Vanderbilt; socialite, artist, writer, and designer, died in her Manhattan home in June 17, 2019 aged 95. The life she led sought to answer the question.

Eagle Cement’s Cebu facility faces delays

EAGLE CEMENT Corp. said the opening of its facility in Malabuyoc, Cebu will be delayed, as it encountered problems in getting necessary permits for its construction.

Conrad exhibit combines good feng shui and art

FOR THE 9th installment of its ongoing Of Art and Wine series, the Conrad Manila features the works of Filipino-Chinese artist Elizabeth Anne “Lizanne” Uychaco, who is known for combining modern art and the art of feng shui. It is ongoing until Aug. 11 at the hotel’s Gallery C.

BoJ set to debate rising overseas economic risks

TOKYO — Bank of Japan (BoJ) Governor Haruhiko Kuroda said the central bank will “certainly” debate heightening overseas risks at a rate review this week, underscoring concerns among policy makers about the economic fallout of a US-China trade war.

PNB sets final terms for rights offer

PHILIPPINE NATIONAL Bank (PNB) has set the final terms for its stock rights offer (SRO) where it is looking to raise up to P12 billion to fund asset growth.

Japan tapped to help upgrade PHL ship building capability

THE Maritime Industry Authority (MARINA) said it signed an agreement with a Japanese industry association to help build the capacity of Philippine shipbuilders.

Davao water project to hit peak construction phase in late 2019

DAVAO CITY -- The construction of the P12-billion bulk water project in the city is set to peak in late 2019 with the joint venture implementing it starting to look for more workers.

One signature away: what you need to know about Senate Bill...

Just last year, much controversy arose upon the emergence of Senate Bill No. 1826 (SB 1826), or the bill on the Security of Tenure and End of Endo Act, which proposed several changes in the Labor Code provisions on contracting arrangements and employment relationships. Due to public clamor, President Rodrigo Roa Duterte even certified the necessity of the immediate passing of SB 1826. This, however, did not deter employer groups from continuing to lobby against the passage of SB 1826.

World without waste: a transformational initiative

The last two months have been replete with small victories related to the Philippines’ waste problem. After languishing in our ports for years, shipping containers of garbage -- plastics, household kitchen waste, shredded electronic wastes, and contaminated trash -- were recently shipped back to their places of origin. Whether it was low business costs, ineffective checks, or regulatory oversight that led these piles of garbage to our shores, using another country as a dumping ground is an utterly deplorable practice.

Raptors two-million strong NBA victory bash marred by shooting

TORONTO -- Canadian Prime Minister Justin Trudeau and some two million other fans cheered the NBA champion Toronto Raptors on Monday in a victory celebration that united the nation, but the party was marred by a shooting that seriously wounded two people.

Ricky Vargas resigns as POC president

WHAT was supposed to be a dialogue to straighten the affairs in the Philippine Olympic Committee and preparations for the Southeast Asian Games which the country is hosting later this year created more problems after POC president Ricky Vargas resigned from his post yesterday.

Water interruption seen as Angat Dam nears critical level

ROTATIONAL interruptions in water service are expected in Metro Manila after the Angat Technical Working Group (TWG) proposed to reduce the water allocation to the Metropolitan Waterworks and Sewerage System (MWSS), with Angat Dam’s level seen to breach 160 meters in the next few days.

SEC files complaint against Kapa ministry

THE SECURITIES and Exchange Commission (SEC) filed a criminal complaint against Kapa-Community Ministry International, Inc. along with its president Joel A. Apolinario and seven others before the Department of Justice for alleged involvement in an investment scam.

BSP likely to keep policy rates steady this week

THE Bangko Sentral ng Pilipinas (BSP) will likely keep benchmark rates steady at its review this week, with policy makers preferring to ensure that inflation maintains its downward trend, analysts said in a BusinessWorld poll.

Water interruptions seen if Angat level further dips

ANGAT DAM is seen to hit the critical water level of 160 meters by this weekend, with east zone concessionaire Manila Water Company, Inc. (MWC) warning its customers of more service interruptions.

Megaworld to launch six more townships by 2020

MEGAWORLD Corp. is set to launch six more townships covering about 2,000 hectares of land by next year, as it expands its footprint to areas outside Metro Manila.

Hollywood’s sequel factory churns out summer duds

MORE than a month into the summer movie season, one thing has become clear: Many of Hollywood’s sequels, reboots, and reimaginings are falling flat.

Wilcon Depot aims to have 100 stores by 2025

WILCON DEPOT, Inc. targets to have 100 stores in its network by 2025 in a bid to expand to unserved markets in the country.

Franco Zeffirelli, Italian film and opera director, 96

ROME — Franco Zeffirelli, who directed the world’s greatest opera singers and brought Shakespeare to the cinema-going masses, has died. He was 96.

Citadines Cebu City to open in 3rd quarter

INTERNATIONAL LODGING owner-operator The Ascott Limited (Ascott), in partnership with developer Cebu Landmasters Inc. (CLI), announced that it will be opening the doors to its first property outside of Metro Manila within the third quarter.

Bank of Japan to stand pat despite trade war and dovish...

TOKYO — The Bank of Japan (BoJ) is expected to maintain its massive stimulus program on Thursday and signal its readiness to ramp up monetary support if growing risks such as the escalating US-China trade war threaten the economy’s modest expansion.

Why co-living spaces are on the rise in the metro

DEMAND for co-living spaces has been growing, as young workers prioritize convenience and cost when looking for a place to live in the metro.

BPI AMTC’s UITF surpasses $100M in assets under management in Q1

THE UNIT investment trust fund (UITF) of BPI Asset and Management Trust Corp. (AMTC) remained the largest of its kind in the industry as of end-March, tallying larger returns compared with globally renowned index.

Davao Investment Conference to focus on creating new economic zones

DAVAO CITY -- The city will focus on forming special economic zones during the two-day Davao Investment Conference here starting Thursday.

SSS rules for OFWs meeting stiff resistance

GROUPS representing Overseas Filipino Workers (OFWs) are seeking a suspension of premium hikes recently charged by the Social Security System (SSS) on overseas workers.

Solar para sa politika

Among the records of the outgoing Congress is the legislation of a cronyist bill, the Solar Para sa Bayan Corp. (SPSBC) franchise. It is so unpopular that perhaps all other power developers and generation companies (gencos), both conventional and renewable energy (RE), perhaps all private distribution utilities (DUs) and electric cooperatives (ECs) in the country have opposed it.

Vote-Shaming in the Midterm Elections

Yung mga boboto sa mga taong ’to, paki-unfriend ako please. Wala akong kaibigang bobo.” (Those who will vote for the following candidates, please unfriend me. I have no stupid friends.)

Woodland fends off Koepka to win US Open

PEBBLE BEACH, CA. -- Gary Woodland held his nerve to claim his first major with a three-shot victory at the US Open on Sunday, bringing Brooks Koepka’s two-year reign to an end.

Palicte must be at his best versus Ioka, says analyst

FILIPINO Aston “Mighty” Palicte returns to the ring as he takes on Japanese Kazuto Ioka on Wednesday for the vacant World Boxing Organization super flyweight title at the latter’s home turf of Japan. It is a fight that one analyst said requires for the Philippine fighter to be at his utmost best.

IRR out on switching of mobile networks

THE National Telecommunications Commission (NTC) released on Monday the guidelines for the implementation of the Mobile Number Portability Act, which allows mobile users to switch networks and service types without changing their numbers.

Fratman in Castillo hazing convicted

A MANILA court has found Aegis Juris fraternity member John Paul S. Solano guilty of obstruction of justice in connection with the September 2017 hazing-murder of University of Santo Tomas law freshman Horacio “Atio” Castillo III.

Power underwhelming:Why are there power outages?

IN THE PHILIPPINES, one would have to get used to brownouts, or the drop in voltage in an electrical power supply system. Whether or not it is intentional, these outages have wide-ranging effects on the economy: households would experience no electricity for a few minutes or even for hours, causing great inconvenience; businesses would incur higher costs by way of lost revenue and reduced productivity; and investors would be hesitant to do business, leading to reduced investments.

Plan to raise minimum public float deferred

THE Securities and Exchange Commission (SEC) is deferring its plan to raise the minimum public ownership (MPO) of publicly listed companies, as it bids for more time to study the increase.

Britain’s greatest test driver, Norman Dewis OBE, passes away

COVENTRY, UK -- The man responsible for developing some of the most iconic Jaguars ever, Norman Dewis OBE, has passed away at age 98. Over a 33-year career with Jaguar, Dewis’ fearlessness, extraordinary talent and friendly, humble demeanor helped establish him not only as Britain’s greatest ever test driver, but a veritable legend and a dedicated friend to the Jaguar brand.