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  • 16 hours Top firms highlight ways to digital transformation Manilatimes |Biz
    PHILIPPINE companies are taking different approaches in reshaping and transforming their businesses in the age of digitalization. Representatives from Union Bank of the Philippines (UnionBank), Bank of the Philippine Islands (BPI) and PLDT Inc.-Smart Communications Inc. revealed their firm’s strategies for digital transformation during The Manila Times Digital Transformation and Innovation Forum in Pasay City on Wednesday
    UnionBank Senior Executive Vice President Henry AgudaAccording to UnionBank Senior Executive Vice President Henry Aguda, the listed Aboitiz-led lender did not only change its business model through technology, but also its context.
    “We said [that], beyond the balance sheet and ... more
  • 16 hours BSP to mint P20 coin – official Manilatimes |Biz
    THE Bangko Sentral ng Pilipinas (BSP) will mint a P20 coin to replace the banknote of the same amount in circulation now, according to a senior central bank official. In a recent interview, BSP Senior Assistant Governor Dahlia Luna told reporters that the central bank’s policymaking Monetary Board had approved the coin’s minting. “Hopefully we can release it (P20 coin) in the first quarter of next year, if not the end of this year, because the Monetary Board had already instructed us to make the design,” said Luna, also the head of the BSP Security Plant Complex that is responsible ... more
  • 16 hours Ease of Doing Biz law’s IRR signed Manilatimes |Biz
    THREE government agencies signed on Wednesday the implementing rules and regulations (IRR) of Republic Act 11032, or the Ease of Doing Business (EoDB) and Efficient Government Services Delivery Act of 2018, which is expected to help considerable improve the country’s business climate. Trade Secretary Ramon Lopez, Civil Service Commission (CSC) Chairman Alicia dela Rosa-Bala and Anti-Red Tape Authority (ARTA) Director Jeremiah Belgica signed the IRR, which the latter said would be published today and take effect 15 days afterward. “The IRR was meant to supply all of the details for the full implementation of the [EoDB]. This will also include ... more
  • 16 hours Govt nets P142.6-M income from Mile Long Manilatimes |Biz
    THE government has netted more than P142 million since it took over the management of the 2.2-hectare Mile Long property in Makati City, the Department of Finance (DoF) reported on Wednesday. In a statement, the Finance department quoted Gerard Chan, chief privatization officer of its Privatization Management Office, as saying that the government has earned a gross income of P185 million in rental fees since taking over the property’s management from Sunvar Realty Development Corp. in August 2017. Deducting expenses totaling P42.46 million from August 2017 to June 2019 yields a net income of P142.6 million.
    Chan said ... more
  • 16 hours Profit-taking drags peso back to P51:$1 level Manilatimes |Biz
    The peso erased the gains it posted the previous day as news of positive US economic indicators resulted in profit-taking, dragging the local currency back to the P51:$1 level on Wednesday. The local unit, which opened at P50.95 against the greenback, lost 23 centavos to close at P51.13:$1. “The dollar rallied after better-than-expected reports on US retail sales and factory output provided signs of steady economic growth,” BDO Unibank Inc. chief market strategist Jonathan Ravelas told The Manila Times.
    US Commerce Department has reported that retail sales increased by 0.4 percent in June. Growth in May was slightly ... more
  • 16 hours Civilian rule back in Thailand Manilatimes |World
    BANGKOK: Thailand’s new Cabinet members, composed of former military generals who either quit early or reached mandatory retirement age, were sworn in, creating a nominally elected government after five years of military rule but keeping power in the hands of the same allies of the army. King Maha Vajiralongkorn presided over the swearing-in of the Cabinet, whose 36 members pledged their loyalty to the constitutional monarch. The Cabinet’s inauguration dissolved the junta that had governed while giving itself almost unlimited powers without oversight. “Every task has obstacles. Every mission faces problems,” the king told the Cabinet members. “It is normal ... more
  • 16 hours PH gets it wrong on contractualization Manilatimes |Biz
    BEN KRITZIN this country, there are few more quintessentially populist issues than that of labor contractualization, and there are almost no issues that the country gets as thoroughly wrong. On Tuesday, a joint statement signed by seven of the largest business groups in the Philippines and the six biggest foreign chambers of commerce called on the government to reject the proposed Security of Tenure Act (SB 1826), which was unanimously passed by a 15-0 rump vote in the Senate back in May. SB 1826 would require employers to directly hire employees, instead of getting them through contracting agencies. The ... more
  • 16 hours Input VAT as income tax deductions Manilatimes |Biz
    Should input value-added tax (VAT) or VAT passed on by a taxpayer’s supplier of goods or services be allowed as a deduction from income tax, if the claim for refund or tax credit was denied or disallowed? To answer that question, one has to understand the difference between income taxation and the imposition of VAT. Income tax is imposed on net taxable income (gross income less allowable deductions). In principle, it is imposed when there is “inflow of wealth”. It is governed by Title II of the National Internal Revenue Code (Tax Code).
    VAT, on the other hand, ... more
  • 16 hours Iran seizes another oil tanker – report Manilatimes |World
    DUBAI: A small oil tanker from the United Arab Emirates traveling through the Strait of Hormuz entered Iranian waters and turned off its tracker three days ago, leading the US to suspect Iran seized the vessel amid heightened tensions in the region. Iranian state media quoted its Foreign Ministry spokesman early Wednesday as saying the Islamic Republic had aided a foreign oil tanker with a malfunction, but the report didn’t explain further. Oil tankers previously have been targeted in the wider region amid tensions between the US and Iran over its unraveling nuclear deal with world powers.
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  • 17 hours Electronics imports hit $11.64B in Jan-May Manilatimes |Biz
    Electronic imports rose by 2.37 percent in the first five months on the back of increasing demand for consumer and automotive electronics, among others, the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi) said. In a report, the industry group said electronic imports reached $11.64 billion in January to May, up from $11.37 billion a year ago. Consumer electronics — which include computers and mobile phones — had the fastest growth, with imports surging by 41.13 percent to $615.41 million for the period from year-ago’s $436.06 million.
    This was followed by automotive electronics, whose shipments jumped ... more
  • 17 hours 10 killed, 25 trapped in collapsed Indian building Manilatimes |World
    MUMBAI: Ten people were killed and at least 10 others were feared trapped under rubble after a building collapsed during heavy monsoon rains which lashed India’s financial capital Mumbai on Tuesday, officials said, the second such tragedy in two weeks. Torrential downpours have swept away homes, triggered landslides and claimed at least 180 lives across South Asia. “Ten dead bodies have been recovered and nine injured have been sent to hospital,” disaster management spokesman Tanaji Kamble told Agence France-Presse of the building collapse in southern Mumbai’s congested Dongri area.
    RUBBLE Indian National Disaster Response Force and Indian ... more
  • 17 hours US bans 4 Myanmar generals from visiting Manilatimes |World
    The United States has banned visits by Myanmar’s army chief and three other top officers due to their role in the “ethnic cleansing” of the Rohingya minority, urging accountability for their brutal campaign. The State Department said it took action against army chief Min Aung Hlaing and the others after finding credible evidence they were involved in the violence two years ago that led about 740,000 Rohingya to flee across the border to Bangladesh.
    Myanmar’s Chief Senior General Min Aung Hlaing. AFP PHOTO“With this announcement, the United States is the first government to publicly take action with respect to ... more
  • 17 hours Khan claims Pacquiao has agreed to Saudi Arabia bout Manilatimes |Sports
    LONDON: British boxer Amir Khan claims he has agreed a deal to fight Manny Pacquiao in Saudi Arabia in November. Khan won the WBC international welterweight title with a fourth round stoppage of Australian Billy Dib in Jeddah on Friday. Now the 32-year-old plans to return to Saudi Arabia on November 8 to face former sparring partner Pacquiao, if the Filipino comes through unscathed against Keith Thurman in their WBA welterweight title fight in Las Vegas this weekend.
    Manny Pacquiao strikes a pose amid adoring fans in the US. PHOTO BY WENDELL ALINEAA proposed fight between the ... more
  • 17 hours Court to decide on Indian spy on death row Manilatimes |World
    The International Court of Justice (ICJ) will decide on India’s bid to remove an alleged spy from death row in Pakistan, in a case that has stoked tensions between the South Asian rivals. Kulbhushan Sudhir Jadhav, a former Indian navy officer, was arrested in Pakistan’s restive southwestern province of Baluchistan in March 2016 on charges of espionage. The 48-year-old was then sentenced to death by a Pakistani military court in 2017, sparking outrage in India.
    The Hague-based ICJ, which is the UN’s top court, said it “will deliver, on Wednesday July 17, 2019, its Judgment in the Jadhav ... more
  • 17 hours PSEi down on US tariff threat Manilatimes |Biz
    RENEWED tensions between the United States and China triggered selloffs among investors on Wednesday. The bellwether Philippine Stock Exchange index (PSEi) dropped by 0.36 percent or 30.09 points to close at 8,233.48, while the broader All Shares declined by 0.23 percent or 11.45 points to finish at 5,001.54. Regina Capital Development Corp. head of sales Luis Limlingan blamed losses to US President Donald Trump’s statement earlier that Washington could impose tariffs on another $325 billion in Chinese goods if he wanted amid the two largest economies’ ongoing trade talks.
    Commenting on Trump’s statement, China said further tariffs could ... more
  • 17 hours Roach, Jackson praise boxing training to fight Parkinson’s Manilatimes |Sports
    Fight trainer Freddie Roach and the Rev. Jesse Jackson — a recent convert to boxing training — talk about how their sessions together have helped both men offset some of the devastating effects of Parkinson’s disease.
    Training consultant Freddie Roach (left) drills pupil Manny Pacquiao with focus mitts at the Wild Card Gym in Los Angeles, California. PHOTO BY WENDELL ALINEA“When he got here, he could barely climb the steps to the ring,” Roach tells hosts Jim Litke and Tim Dahlberg on the new episode of PodcastOne Sports Now . “After 10 days of training, he wanted to race ... more
  • 17 hours 6 things you can probably give up to save more Manilatimes |Biz
    RICKY PUBLICODid you know you can be a millionaire if you did one simple thing? Personal finance expert and The Latte Factor author David Bach said all you have to do is give up buying your favorite latte a day and boom, you’re on your way to becoming a millionaire yourself. Simple, right? Relating it to The Latte Factor protagonist Zoey Daniels who is a young lady trying to make ends meet, Bach shared the secret to becoming a multi-millionaire. “If she gives up her latte, or she makes her lunch and doesn’t eat out everyday or she skips ... more
  • 17 hours Kuwait arrests 12 protesters demanding citizenship Manilatimes |World
    KUWAIT City: Kuwaiti authorities have arrested more than a dozen people, including a leading rights activist, in a crackdown on protesters demanding greater rights for stateless Arabs, Amnesty International said Wednesday. They face a number of charges including participation in unlicensed demonstrations, spreading false news and state security offences, the London-based rights group said. “The Kuwaiti authorities have arbitrarily arrested more than a dozen protesters in recent days, including prominent human rights defender Abdulhakim al-Fadhli and other activists, in a crackdown on peaceful protestors demanding greater rights for the stateless group known as Bidun,” Amnesty said in a statement.
    ... more
  • 17 hours Red Lions eye solo lead vs host EAC Manilatimes |Sports
    San Beda University guns for a third win and the solo lead when it faces host Emilio Aguinaldo College (EAC) at 4 p.m. today in Season 95 National Collegiate Athletic Association (NCAA) seniors basketball tournament at the EAC Gym in Manila. The four-peat seeking Red Lions are currently tied with San Sebastian College-Recoletos and College of St. Benilde that are also holding 2-0 records. The Lions started their title-retention campaign with back-to-back victories highlighted by a 74-52 rout of Jose Rizal University on Friday.
    But veteran coach Boyet Fernandez is taking on the retooled EAC with caution. “EAC ... more
  • 17 hours Congress condemns Trump for racism Manilatimes |World
    WASHINGTON, D.C.: In a remarkable political repudiation, the Democratic-led US House voted to condemn President Donald Trump’s “racist comments” against four congresswomen of color, despite protestations by Trump’s Republican congressional allies and his own insistence he hasn’t “a racist bone in my body.” Two days after Trump tweeted that four Democratic freshmen should “go back” to their home countries — though all are citizens and three were born in the US — Democrats muscled the resolution through the chamber by 240-187 over near-solid GOP opposition. The rebuke Tuesday night was an embarrassing one for Trump even though it carries no ... more
  • 17 hours Sixers star Simmons out of Aussie World Cup bid Manilatimes |Sports
    LOS ANGELES: Ben Simmons, newly signed to a five-year, $170 million contract extension with the NBA’s Philadelphia 76ers, confirmed Tuesday (Wednesday in Manila) he won’t play for Australia at the World Cup. In a statement posted on Twitter, the Melbourne-born star said he wouldn’t make the trip to the FIBA championship that tips off in China on August 31. “I wanted to let everyone know that after consulting with my representation, I’ve made the difficult decision to forego playing in the World Cup in China,” Simmons said.
    “Ultimately, we decided it was best that I use the time ... more
  • 17 hours What we can learn from the Korean Team Manilatimes |Sports
    MICHAEL ANGELO B. ASISThese days, the Korean invasion is in full force. Whether it’s on TV with the Korean drama or with food with all the samgyupsal establishments sprouting like mushrooms. “Pati ba naman basketball?” Filipinos take pride in being the biggest basketball fans in the world. The fervent wish is for the fandom to translate into global excellence. We’re getting there, don’t worry. We have a ticket to the World Cup, and our U-19 team beat China, making us the best Asian team in that age group’s competition. Watching the Korean team take on the import-laden Mighty Sports ... more
  • 17 hours 10 Turkish sailors abducted in Nigeria Manilatimes |World
    Ten Turkish sailors were abducted from their ship by armed men off the coast of Nigeria on Monday, the co-partner of the shipping company, Ahmet Paksoy, said in a statement. The ship, managed by the company Kadioglu Denizcilik, was raided by “pirates” who disrupted the vessel’s electric system and abducted ten of the more senior crew members, including the first captain, Paksoy said. The remaining 8 members of the crew managed to bring the ship to harbor in Ghana, he said. Once the ship was in Ghanaian waters, Ghana’s military escorted the ship, Paksoy, said.
    Paksoy said the ... more
  • 17 hours Lanao Norte placed under red alert Manilatimes
    THE province of Lanao del Norte has been placed under red alert status following heavy rains and increased water levels in rivers caused by tropical depression “Falcon.” Based on the report of the Regional Disaster Risk Reduction and Management Council (RDRRMC) in Northern Mindanao, Lanao del Norte Gov. Imelda Dimaporo has declared the red alert status and instructed all municipalities to activate their respective Emergency Operations Centers. Red alert means all personnel of a regional disaster management council must be in their respective posts 24/7.
    The RDRRMC in Northern Mindanao also reported that several towns suspended classes in ... more
  • 17 hours US hopes nuclear talks proceed despite Pyongyang threats Manilatimes |World
    WASHINGTON, D.C.: The United States said Tuesday (Wednesday in Manila) it hoped to hold denuclearization talks with North Korea, despite a warning from Pyongyang that US-South Korean military exercises could affect their planned resumption. The North had earlier Tuesday hinted that it could even reconsider its moratorium on nuclear testing over next month’s drills, which have been held for years but were scaled down to facilitate dialogue with Pyongyang.
    In this file photo taken on June 15, 2019 shows a general view of Pyongyang. AFP PHOTOIt was the first statement from the North on the talks since US President ... more
  • 17 hours LA Angels snuff Houston Astros 7-2 Manilatimes |Sports
    ANAHEIM, California: The Houston Astros expected the Angels to retaliate against Jake Marisnick in his first game versus Los Angeles since his violent home plate collision with catcher Jonathan Lucroy. So while the pitch that hit Marisnick in the back in the sixth inning was no surprise, it still left manager AJ Hinch and his Astros profoundly steamed — even after Noe Ramirez insisted he hadn’t done it on purpose. Albert Pujols hit a bases-clearing double during the Angels’ six-run first inning, and Los Angeles remained unbeaten in five games since the All-Star break with a 7-2 victory over the ... more
  • 17 hours Court denies KAPA prayer for injunction Manilatimes
    A REGIONAL Trial Court (RTC) in General Santos has dismissed KAPA-Community Ministry International Inc.’s petition for injunction against the Securities and Exchange Commission (SEC). The SEC has filed criminal complaints against KAPA over its unauthorized solicitation of funds from approximately 5 million members. In an emailed statement on Wednesday, the SEC said the General Santos RTC Branch 35 sided with the commission in an order dated June 17 after it denied KAPA’s prayer for injunction.
    “Accordingly, the motion is hereby denied and this case is hereby ordered dismissed,” Presiding Judge Oscar Noel Jr. ruled after taking judicial notice ... more
  • 17 hours Madrid now a favorite TV production center Manilatimes |World
    MADRID: Media firms are racing to set up television production centers in Madrid following the runaway global success of Spanish series such as Netflix’s crime caper “Money Heist.” Spanish multimedia group Mediapro and its foreign rivals Viacom and Netflix have set up shop or increased their activity in the Spanish capital to meet booming demand for content sparked by the rise of subscription video streaming services. During a recent visit to Mediapro’s studios north of Madrid, film crews were busily recording a dialogue between two actresses on a set depicting an upscale law office.
    Cars drive over ... more
  • 17 hours Tayongtong tows QC to comeback win Manilatimes |Sports
    John Tayongtong led home team Quezon City-Wemsap to a 91-85 comeback win over erstwhile unbeaten Makati-Super Crunch in the Maharlika Pilipinas Basketball League (MPBL) Lakan Cup on Tuesday night at the Ateneo Blue Eagle Gym. The former Jose Rizal University star Tayongtong poured 13 of his 20 points in a finishing 21-5 run that helped the Capitals erased a 12 points deficit to notch a fourth win against two defeats. In the other games, last season’s runner-up Davao Occidental-Cocolife crushed Rizal-Xentro Mall, 86-55, while Muntinlupa-Angelis Resort pounded Parañaque-Yabo Sports, 87-78.
    Dahrrel Caranguian also posted 20 points, eight assists ... more
  • 17 hours Go promises to rebuild Bohol public market Manilatimes
    IN SPITE of the rains brought by tropical depression “Falcon,” Sen. Christopher Lawrence “Bong” Go on Tuesday flew from Davao to Tagbilaran City in Bohol to assist the victims of the fire at the Cogon Public Market. The July 10 fire destroyed around 80 stalls inside the market compound and destroyed at least P3-million worth of property. Go distributed cash and relief goods to fire victims and gave uniforms to students.
    He was accompanied by representatives of the Philippine Charity Sweepstakes Office, Department of Health, Department of Social Welfare and Development and Philippine Amusement and Gaming Corp. Go ... more
  • 17 hours Team boss says Ineos on course for Tour de France title Manilatimes |Sports
    CASTRES, France: Team Ineos boss Dave Brailsford said Tuesday (Wednesday in Manila) his riders were perfectly poised for another Tour de France win at the halfway stage after 10 rollercoaster stages so far. Reigning champion Geraint Thomas, backed up by team co-captain Egan Bernal, said that victory was within his grasp and all was well in the Ineos camp. That is in stark contrast to last year when the outfit, riding as Team Sky, were booed and jeered on the road by a hostile public upset that team leader Chris Froome had been cleared to ride despite doping allegations.
    ... more
  • 17 hours Cavite declares state of calamity on dengue Manilatimes
    FOLLOWING the nationwide dengue outbreak, the Province of Cavite declared a state of calamity on Wednesday due to the increase in the number of dengue cases, according to Provincial Board Member Kerby Salazar. Salazar, also the chairman of the Committee on Health, Nutrition and Population of the province, authored a resolution placing the province under a state of calamity and authorizing the use of P4 million for the immediate response to the issue. In the latest data of the Cavite Provincial Health Office-Provincial Epidemiology and Surveillance Unit, a total of 3,605 cases with 18 deaths have been recorded since the ... more
  • 17 hours Cavite declares state of calamity on dengue Manilatimes
    FOLLOWING the nationwide dengue outbreak, the Province of Cavite declared a state of calamity on Wednesday due to the increase in the number of dengue cases, according to Provincial Board Member Kerby Salazar. Salazar, also the chairman of the Committee on Health, Nutrition and Population of the province, authored a resolution placing the province under a state of calamity and authorizing the use of P4 million for the immediate response to the issue. In the latest data of the Cavite Provincial Health Office-Provincial Epidemiology and Surveillance Unit, a total of 3,605 cases with 18 deaths have been recorded since the ... more
  • 17 hours British Open’s return offers sporting relief to Northern Ireland Manilatimes |Sports
    PORTRUSH, United Kingdom: The British Open’s return to Northern Irish soil for the first time in 68 years this week brings some blessed sporting relief for a region in uncertain political times. Not since 1951 has golf’s oldest tournament been held outside Scotland or England. But the eyes of the world will be on the small seaside town of Portrush, with a population of just over 7,000, from Thursday as the likes of Tiger Woods and local hero Rory McIlroy battle for the Claret Jug.
    A return to Northern Ireland was ruled out for many years by “The ... more
  • 17 hours Thai ties faltering Japanese in the wind, rain Manilatimes |Sports
    Thai Chonlada Chayanun hit two late birdies at the front to turn in a plucky three-under 69 in wet, windy conditions, catching Japanese Mayuna Furukawa at the helm at the start of the ICTSI Pradera Ladies Classic at the Pradera Verde Golf and Country Club in Lubao, Pampanga on Wednesday.
    Japanese Mayuna Furukawa hits off the 14th hole under heavy rain during the ICTSI Pradera Ladies Classic at the Pradera Verde Golf and Country Club in Lubao, Pampanga on Wednesday. PHOTO BY ROGER RAÑADAThe brave 91-player field from at least nine countries, including some of the leading campaigners on ... more
  • 17 hours DENR grants ECC for Palawan coal plant Manilatimes
    THE Department of Environment and Natural Resources has recently issued an environmental compliance certificate (ECC) to DMCI Power Corp. for its planned coal power plant in Palawan. In a statement on Wednesday, the company said the ECC is supported by the Palawan Council for Sustainable Development’s Strategic Environmental Plan clearance, local endorsements and necessary permits needed for the project. ECC is a certification issued by the DENR allowing an entity to proceed with the next stage of project planning such as securing approvals from other government agencies and local government units before implementing the project. The company assured the public ... more
  • 17 hours WMPC, Zamcelco seal new deal Manilatimes
    WESTERN Mindanao Power Corp. (WMPC) and Crowninvestment Holdings Inc., the investor-manager of Zamboanga City Electric Cooperative (Zamcelco), have reached another compromise to ensure stable electricity supply in the area. In a statement on Wednesday, Crowninvestment Holdings said under the new agreement, Zamcelco will give WMPC, an entity under the umbrella of Alsons Power Group, a partial payment of P150 million, and pay an additional P80 million in security deposit. The power supplier will run its plant for 90 days, it added. “Like the previous agreement, this compromise is without prejudice to other pending matters before the ERC (Energy Regulatory Commission).”
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  • 17 hours Basilan to install P30-M CCTVS, street lights Manilatimes
    ISABELA CITY, Basilan: In light of the increasing number of criminal activities here, the local government has allocated at least P30 million to install closed-circuit television (CCTV) cameras and street lights in the central business district and surrounding urban villages, Mayor Sitti Djalia Turabin Hataman said. Hataman told the media that P20 million was intended for CCTV cameras, while P10 million was for the acquisition of light-emitting diodes or LED lamps. She announced that majority of the CCTV cameras would be “installed in crime-prone areas to eliminate or reduce the commission of crimes such as kidnapping and hold-up.” more
  • 17 hours Woman yields P9-M ‘shabu’ in Cebu Manilatimes
    CEBU CITY: Police seized more than 1.3 kilograms of suspected shabu worth P8.8 million from a 21-year-old woman in a buy-bust operation here on Wednesday. Police Major Dindo Juanito Alaras, chief of Cebu City Police Station 9 said that Judy Ann Longakit, 21 of Barangay Duljo Fatima sold a medium pack of shabu for P10,000 to a poseur buyer along V. Aranas Extension in an alley near her house at about 12:30 a.m. Police confiscated one more large pack and three knot-tied packs of shabu inside a paper bag from Longakit. Alaras said that Longakit, who was unemployed, was a ... more
  • 17 hours BI warns aliens vs political activities Manilatimes
    THE Bureau of Immigration (BI) has reminded foreigners that they are prohibited from engaging in any political activity during their stay here as the country prepares for the President’s fourth State of the Nation Address on July 22. Immigration Commissioner Jaime Morente on Wednesday pointed out that the prohibition is expressly provided under the Philippine Immigration Act of 1940, adding that being a visitor of the country does not give foreigners the political rights and privileges of a Filipino. Morente also warned alien protesters that if found committing acts that constitute overthrowing the government, unlawful destruction of property and violation ... more
  • 2 days Innovation, reinvention a must – UnionBank chief Manilatimes |Biz
    COMPANIES should think ahead, innovate and reinvent in order to ride the digital-transformation wave brought about by the so-called Fourth Industrial Revolution, Union Bank of the Philippines (UnionBank) Chairman Justo Ortiz said on Tuesday. In his keynote speech at The Manila Times Digital Transformation and Innovation Forum in Pasay City, Ortiz told participants that “[a]s we move into this fourth industrial age, there’s going to be a discontinuity.” As an example, Ortiz cited a study that showed that the average life of a publicly listed company today would be 35 years, which would eventually go down to 12 by 2027. ... more
  • 2 days PSEi hits 8,200 level, remains in bull market Manilatimes |Biz
    THE stock market succumbed to profit-taking on Tuesday, but remained in the bull market territory, with investor sentiment dented anew by renewed tensions between the United States and China. The benchmark Philippine Stock Exchange index (PSEi) dropped by 1.22 percent or 101.72 points to close at 8,263.57, while the wider All Shares declined by 0.61 percent or 30.97 points to finish at 5,012.99. Regina Capital Development Corp. head of sales Luis Limlingan said market players sold off positions after tensions between Washington and Beijing escalated over the latter’s plan to sanction US companies such as General Dynamics, Honeywell and Raytheon ... more
  • 2 days Peso back at P50:$1 on policy easing Manilatimes |Biz
    THE peso recorded its strongest level yet against the US dollar this year as the expected easing of the Bangko Sentral ng Pilipinas’ (BSP) monetary policy and other positive indicators helped the local currency return to P50:$1 on Tuesday. The currency, which opened at P51 against the greenback, gained 10 centavos to close at P50.90, its strongest in nearly 18 months or since its P50.84:$1 finish on Jan. 26, 2018. “Possible easing of local monetary policy by way of a cut in key policy rates as early as the next monetary policy-setting meeting on Aug. 8, 2019, amid [the] continued easing-inflation trend ... more
  • 2 days Biz groups to govt: Veto SoT bill Manilatimes |Biz
    VARIOUS industry groups and business chambers urged the government on Tuesday to veto Senate Bill 1826, or the Security of Tenure (SoT) measure, arguing that there are existing laws already safeguarding workers. In a joint statement, the business groups called the bill “redundant, as there are previously approved laws that already protect workers from endo (end of contract).” The statement was signed by the Makati Business Club, the Philippine Chamber of Commerce and Industry, Foundation for Economic Freedom, IT and Business Process Association of the Philippines, Management Association of the Philippines, Philippine Association of, Multinational Companies Regional Headquarters Inc., and ... more
  • 2 days PLDT executives’ multi-million paycheck Manilatimes |Biz
    EMETERIO SD. PEREZManuel V. Pangilinan (MVP) is president and chief executive officer (CEO) of PLDT Inc.; Ernesto R. Alberto, executive vice president; Ma. Lourdes C. Rausa-Chan, Anabelle L. Chua, and Menardo G. Jimenez, senior vice presidents, according to PLDT’s definitive information statement (DIS). As PLDT’s top executives, MVP, Chua, Alberto, Jimenez and Rausa-Chan are also the company’s highest paid. As a group, they received compensation of P167 million in 2017; P248 million in 2018; and an estimated P231 million in 2019. The same DIS showed PLDT paid “all other officers and directors as a group unnamed” P507 million in ... more
  • 2 days DTI lends P3.10B to MSMEs Manilatimes |Biz
    Total amount of loans released under the Pondo sa Pagbabago at Pag-asenso (P3) program already reached P3.10 billion as of May 31, the Department of Trade and Industry (DTI) said on Tuesday. During the National MSME (Micro, small, and medium enterprises) Summit at the Philippine International Convention Center, Trade Secretary Ramon Lopez said the amount benefitted 83,088 MSMEs in the country. “Of this amount, P5.7 million were released to 457 borrowers in Marawi, P25.89 million to 335 families of soldiers killed or wounded in action, and P3.14 million to 108 borrowers in Boracay,” said Lopez.
    The P3 program ... more
  • 2 days Don’t discriminate HIV victims, IC tells HMOs Manilatimes |Biz
    THE Insurance Commission (IC) has released new rules mandating health maintenance organizations (HMOs) to not discriminate people living with human immunodeficiency virus (HIV). In a statement on Tuesday, Insurance Commissioner Dennis Funa said the issued new guidelines state “an HMO cannot decline an application of a person living with HIV (PLHIV) on the sole basis of his or her HIV status.” Under the new rules, an HMO may provide coverage to persons with actual, perceived, or suspected to be with HIV, provided that the applicant is undergoing proper medical treatment, has favorable risk profile, and results of the medical examinations ... more
  • 2 days Determination of corporate nationality Manilatimes |Biz
    KELVIN LESTER LEEA domestic stock corporation whose activity involves the exploration, development and utilization of natural resources is considered as a partly nationalized activity. The 1987 Philippine Constitution has specific requirements when exploration, development and utilization of natural resources is involved. Section 2, Article XII of the 1987 Constitution provides that: “The exploration, development, and utilization of natural resources shall be under the full control and supervision of the State. The State may directly undertake such activities, or it may enter into co-production, joint venture, or production-sharing agreements with Filipino citizens, or corporations or associations at least sixty per ... more
  • 2 days Raw sugar output up Manilatimes |Biz
    The country’s raw sugar production rose to 2.069 million metric tons (MT) as of the third week of June compared to its level a year ago, the Sugar Regulatory Administration (SRA) said. Based on its latest data, raw sugar supply increased 0.23 percent from last year’s 2.064 million MT. Total output in terms of 50-kilogram bags increased to 41.393 million from 41.299 million a year earlier. During the period, the demand for raw sugar fell by 17.63 percent to 1.682 million MT from 2.042 million MT in June 2018.
    Meanwhile, production of refined sugar totaled 788,671 MT as ... more
  • 2 days PSALM to 14 firms: Pay or else Manilatimes |Biz
    STATE-RUN Power Sector Assets and Liabilities Management Corp. (PSALM) has issued final letters of demand for payment to 14 entities with long-overdue obligations totaling P1.931 billion. The firms were given 10 days from receipt of the demand to pay their arrears, based on final demand letters sent by PSALM President and Chief Executive Officer Atty. Irene Besido Garcia and Vice President for Finance Lourdes Alzona. Garcia said PSALM will not think twice to take legal steps against any of the firms that will fail to settle their overdue obligations.
    “For years, these companies have evaded the collection efforts of NPC and PSALM, causing extreme prejudice ... more
  • 2 days Monsoon rains kill 180 in South Asia Manilatimes |World
    NEW Delhi: Torrential monsoon rains swept away homes and triggered landslides across South Asia, affecting millions of people and claiming at least 180 lives, officials said Tuesday. The monsoon is crucial for irrigation and groundwater supplies in the impoverished region — home to a fifth of the world’s population — and brings relief after the unforgiving summers. But the downpours, which stretch from June to September, can turn deadly and have wreaked havoc again this year across India, Nepal, Bangladesh and Pakistan-administered Kashmir, with people, dwellings and boats in remote low-lying areas washed away.
    At least five children ... more
  • 2 days China calls female tank operators ‘modern Mulan’ Manilatimes |World
    Chinese net users hailed the first 10 women who hurdled the training as operators of the country’s most advanced tank, calling them ‘modern-day Mulans,’ a legendary heroine who disguised herself as a male warrior in place of her father. The squad started training on the Type 99A tank two months ago at the Zhurihe training base in Northwest China’s Inner Mongolia Autonomous Region, where the climate is dry and dusty and temperatures can dip to -40 degrees Celsius, China Central Television (CCTV) reported. The female soldiers each gained 10 kilograms in order to improve physical strength, CCTV reported.
    ... more
  • 2 days Pakistan reopens airspace Manilatimes |World
    Pakistan on Tuesday fully reopened its airspace for all civilian traffic, ending months of restrictions affecting major international routes, including from India after clashes between the nuclear-armed rivals brought them to the brink of war. “With immediate effect Pakistan airspace is open for all type of civil traffic,” the state-run Civil Aviation Authority (CAA) said. A CAA spokesman confirmed to Agence France-Presse that the eastern airspace along the border with India had been reopened.
    Joint Secretary of Indian Home Ministry SCL Das (center) returns to India after attending a meeting on the issue of Kartarpur Corridor at ... more
  • 2 days Stags trample on Cardinals to grab share of lead Manilatimes |Sports
    San Sebastian College-Recoletos, displaying a balanced attack, pulverized Mapua University, 92-68, to earn a share of the lead in Season 95 National Collegiate Athletic Association (NCAA) seniors basketball on Tuesday at the FilOil Flying V Centre in San Juan City. Veterans RK Ilagan and Ally Bulanadi led their teammates in double-digit scoring to catapult the Golden Stags to a shared lead with San Beda University in the 10-team field after the first two games of the season. “The boys are playing well and they’re just focusing on the game plan,” said San Sebastian head coach Egay Macaraya, whose squad notched ... more
  • 2 days India building collapses; people trapped Manilatimes |World
    MUMBAI, India: A four-story residential building has collapsed in a crowded neighborhood in Mumbai, India’s financial and entertainment capital, and several people are feared trapped in the rubble.
    Indian National Disaster Response Force and Indian fire brigade personnel rescue a survivor after a building collapsed in Mumbai on July 16, 2019. AFP PHOTOFire official Ashok Talpade says rescuers had reached the site in Mumbai’s Dongri section and a clearing operation was in progress. Other details were not immediately available following Tuesday’s disaster. Building collapses are common in India during the June-September monsoon season, when heavy rains weaken the foundations ... more
  • 2 days Pole vaulter EJ Obiena: GM Wesley So, Part 2? Manilatimes |Sports
    ROMY P. MARIÑASErnest John “EJ” Obiena last week leaped 5.76 meters to win the pole vault gold medal at the ongoing 2019 Universiade or University Games in Naples. Obiena, 23, the reigning Asian champion in the event, edged Germany’s Torben Blech (also 5.76 meters to bring home the silver medal) in the countback, with Belgium’s Joren Broeders taking the bronze at 5.51 meters. EJ’s victory in the Italian city, which is hosting the 30th Universiade, brought the young Filipino pole vaulter nearer to the Olympic qualifying mark of 5.80 meters to possibly realize his dream to take part in ... more
  • 2 days Gou supports KMT’s bet for Taiwan polls Manilatimes |World
    Terry Gou is unlikely to split the Chinese Kuomintang (KMT) party and will probably support Han Kuo-yu, who just won the KMT party primary poll to run in the 2020 Taiwan regional leadership election, a Chinese mainland expert said on Monday. The KMT announced Monday that Han, mayor of Kaohsiung in the southwestern Taiwan region, had won the KMT primary poll and would represent the KMT in the 2020 Taiwan regional leadership election. Han won with an average support rate of 47 percent, defeating his challenger Gou, founder of Foxconn Technology Group, by nearly 20 percent in the party’s primary, ... more
  • 2 days 6-quake rattles Bali; no casualties Manilatimes |World
    DENPASAR, Indonesia: A strong earthquake measuring 6.0 on the Richter scale struck off the Indonesian holiday island of Bali on Tuesday, the United States Geological Survey (USGS) said, causing residents to flee their homes and damaging several buildings. The quake hit at 7:18 a.m. (8:18 a.m. in Manila) and was centered 82.1 kilometers (50.9 miles) southwest of the island’s capital Denpasar, according to the USGS. The tremor, which was felt as far away as Banyuwangi on the neighbouring island of Java, struck relatively deep at 91 kilometres and no tsunami warning was issued.
    Residents of Bali described panic ... more
  • 2 days TNT targets top post as SMB, Bolts collide for crucial win Manilatimes |Sports
    San Miguel Beer and Meralco clash for an important win today, while TNT KaTropa seeks the No. 1 spot at the end of the elimination round of Season 44 Philippine Basketball Association Commissioner’s Cup at the Araneta Coliseum. The Beermen (5-5 win-loss record) must hurdle the Bolts at 4:30 p.m. to remain at No. 5 in the best-of-three quarterfinals series. “It’s a very important game and we cannot rely on the result of the other match. We want to be in the best-of-three quarterfinals. If we lose, there’s a possibility that we’re going to face the twice-to-beat Northport,” said SMB ... more
  • 2 days Guiao adds Clarkson to Gilas 19-man pool Manilatimes |Sports
    Gilas Pilipinas coach Yeng Guiao has included Jordan Clarkson to the 19-man pool submitted to the International Basketball Federation (FIBA) despite the slim chance that the Fil-Am player will actually see action in the 2019 FIBA World Cup on August 31 to September 15 in China. Clarkson is a combo guard of the Cleveland Cavaliers in the National Basketball Association. “Maliit ang possibility pero mas mabuti na nandun siya. Kahit ten percent or five percent lang paano kung mangyari tapos hindi natin magamit dahil hindi natin na-submit? Kasi makakapili ka lang sa na submit mo. So if in case that ... more
  • 2 days 18 die, 14 injured in Iran road accidents Manilatimes |World
    TEHRAN, Iran: Iran’s state TV said 18 people were killed and 14 injured in two separate road accidents in the country. The report says both accidents happened on Tuesday. The TV says 11 died after a minibus plunged into a ravine in a valley in the central province of Isfahan. It says eight were injured and were taken to hospital. They were reported to be in serious condition. The second accident, which killed seven, involved a crash between a bus and a car in the southeastern Sistan and Baluchistan province. A huge fire engulfed the two vehicles after the collision.
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  • 2 days Patrombon eyes PPS Fr. Suarez title repeat Manilatimes |Sports
    Multi-titled national team mainstay Jeson Patrombon sets out for a title-retention drive in the centerpiece Open class while the country’s leading and rising junior campaigners slug it out for top honors in their side of the duel in the PPS-PEPP Fr. Fernando Suarez Open Championships which gets under way Friday at the Brent Tennis Center in Biñan, Laguna. The two-weekend tournament kicking off the second half of the Palawan Pawnshop-Palawan Express Pera Padala tennis season also features the Legends division featuring the men’s doubles in the 40s and 50s age categories with the other playdates on July 20, 21, 26, ... more
  • 2 days EU holds nuke crisis talks amid Tehran threats Manilatimes |World
    BRUSSELS: European Union (EU) foreign ministers held crisis talks Monday (Tuesday in Manila) on saving the beleaguered Iran nuclear deal, as Britain warned the “small window” for success was closing and Tehran issued fresh threats of restarting its atomic program. Tensions in the Gulf have soared since last year, when the United States pulled out of the 2015 deal and reimposed sanctions on Iran, hammering its economy and prompting Tehran to break limits on uranium enrichment and stockpiling.
    Britan’s Foreign Secretary Jeremy Hunt (2nd from left) talks with Ducth Foreign minister Stef Blok (left) and Polish Foreign minister Jacek ... more
  • 2 days New EC boss supports Brexit, ‘green’ Europe Manilatimes |World
    STRASBOURG, France: New European Commission (EC) President Ursula von der Leyen said Tuesday she would support delaying Britain’s exit from the Eurpean Union (EU) beyond an October 31 deadline if necessary.
    Ursula von der LeyenEven if the German defense minister’s Brussels appointment is confirmed later Tuesday, she would not take office until November 1, after the Brexit cut-off, but her view may carry weight. “I stand ready for further extension of the withdrawal date should more time be required for a good reason,” von der Leyen told a European Parliament ahead of a vote on her candidacy.
    ... more
  • 2 days Negros Occidental on heightened alert Manilatimes
    BACOLOD CITY: Negros Occidental is bracing itself for a possible outbreak of the deadly dengue virus as the Department of Health (DoH) on Monday declared an outbreak in Western Visayas. Health Secretary Francisco Duque 3rd approved on Monday the recommendation of the DoH-Center for Health Development (CHD) in Region 6 to declare an outbreak in the region. Marlyn Convocar, DoH-CHD 6 regional director, reported to Duque that Western Visayas had recorded 15,746 cases of dengue with 87 deaths from January 1 to July 6. “Compared to the 4,684 and 40 deaths recorded last year in the same period, we registered ... more
  • 2 days Simmons, Sixers agree to 5-year deal Manilatimes |Sports
    LOS ANGELES: The NBA’s Philadelphia 76ers and Australian star Ben Simmons have agreed to a five-year, $170 million maximum contract extension, US media reported Monday (Tuesday in Manila). ESPN said Simmons’ agent Rich Paul had confirmed the deal, although the parties had until mid-October to finalize the extension of Simmons’ rookie contract. Simmons, 22, was the number one overall draft pick in 2016 and after injury saw him miss the 2016-17 season he was named Rookie of the Year in 2017-18.
    He averaged 16.9 points, 8.8 rebounds and 7.7 assists for the 76ers last season, when he was ... more
  • 2 days McIlroy looks to end drought on Open’s return to Northern Ireland Manilatimes |Sports
    PORTRUSH, United Kingdom: The British Open returns to Northern Ireland for the first time in 68 years this week at Royal Portrush, giving Rory McIlroy the opportunity on home soil to end his five-year major drought. The four-time major champion has not lifted one of golf’s big four trophies since winning the 2014 US PGA Championship, but is the bookmakers’ favourite to get his hands on the Claret Jug after finishing tied for second a year ago at Carnoustie, two strokes behind Francesco Molinari. McIlroy has continued his consistent form this season, claiming two titles including the prestigious Players’ Championship ... more
  • 2 days Trump assault continues, says people agree with him Manilatimes |Sports
    WASHINGTON, D.C: Defiant in the face of widespread criticism, United States President Donald Trump renewed his belligerent call for four Democratic congressmen of color to get out of the US “right now,” cementing his position as the most willing US leader in generations to stoke the discord that helped send him to the White House. Content to gamble that a sizable chunk of the electorate embraces his tweets that have been widely denounced as racist, the President made clear that he has no qualms about exploiting racial divisions once again. “It doesn’t concern me because many people agree with me,” ... more
  • 2 days 4 Swimming Pinas bets begin campaign in Asean School Games Manilatimes |Sports
    Four Swimming Pinas tankers led by Philippine national junior record holder Micaela Jasmine Mojdeh vie for medals in the 11th Asean School Games beginning today in Semarang Indonesia. Mojdeh, an incoming high school student at Brent International School in Laguna, will see action in eight events in the girls’ class. The Palarong Pambansa multi-gold medalist plunges into action in the 50m butterfly, 200m butterfly, 100m butterfly, 200m Individual Medley and 400m Individual Medley as well as the 4x100m medley relay, 4x100m freestyle relay and 4x200m freestyle relay.
    The members of the Philippine national swimming team headed by ... more
  • 2 days Slovenia-Croatia border extended Manilatimes |World
    LJUBLJANA: Slovenia said Monday (Tuesday in Manila) extension works would start along its land border with Croatia. The extension would build an additional 40 kilometers of fence on its border with Croatia to keep out migrants heading for Italy and Austria. The small European Union member will put up fencing “at the areas where it is urgently needed to prevent illegal border crossings and to protect citizens and their properties,” the Interior Ministry said in a statement.
    Slovenia’s government last week signed a contract for the construction of 40 kilometers of barbed wire fence and 3.8 kilometers of ... more
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