Pinoy Business News

Pinoy Business News

  • Water tycoon is China's richest as wealth crackdown batters Jack Ma
    by Agence France-Presse on October 27, 2021 at 11:50 am

    SHANGHAI: Bottled-water tycoon Zhong Shanshan has become China's wealthiest person, according to an annual ranking released Wednesday, as a government campaign to rein in the super-rich took a big bite out of the fortunes of perennial front-runners like Alibaba co-founder Jack Ma.Zhong, in his late 60s, has seen his fortune swell following the stock listings last year of his Nongfu Spring mineral water and separate pharma company Wantai Biological Pharmacy Enterprise, which has tapped into […]

  • House bill on 2022 natl budget formally transmitted to Senate
    by Ma. Reina Leanne Tolentino on October 27, 2021 at 11:49 am

    THE House of Representatives has formally transmitted to the Senate the bill on the proposed P5.024-trillion national budget for 2022.Speaker Lord Allan Velasco said that the printed copies of the bill were sent to the Senate two days ahead of the House's target date of October 27."In line with our commitment to ensure the timely enactment of next year's national budget, we have transmitted to the Senate the 2022 GAB duly approved by the House ahead of schedule," Velasco said."In doing so, we […]

  • Abueva edges Williams for Best Player of the Conference honors
    by Rey Joble on October 27, 2021 at 11:47 am

    For the first time in five years, Calvin Abueva of Magnolia has been chosen as the Best Player of the Conference (BPC).The Beast topped the statistical race and the media votes on his way to winning the prestigious plum over his closest pursuer — rookie Mikey Williams of TNT.Abueva garnered a total of 934 points after getting 415 statistical points and 440 media votes.It was the second BPC honors won by Abueva, who was named BPC for the first time in the 2016 Commissioner's Cup.Abueva was the […]

  • Pandemic hit on jobs worse than thought – UN
    by Agence France-Presse on October 27, 2021 at 10:57 am

    GENEVA: The impact of the Covid-19 pandemic on jobs has been harder than previously expected, and a worrying two-speed recovery is emerging between richer and poorer nations, the UN's International Labour Organization warned Wednesday."The current trajectory of labor markets is of a stalled recovery, with major downside risks appearing, and a great divergence between developed and developing economies," said ILO chief Guy Ryder."Dramatically, unequal vaccine distribution and fiscal capacities […]

  • Teachers protest over unpaid overtime work
    by Kaithreen Cruz on October 27, 2021 at 10:39 am

    THE Alliance of Concerned Teachers-NCR (ACT-NCR) Union continued to demand from the Department of Education (DepEd) to heed their call for the overtime pay teachers served in school year 2020-2021 prior to the official opening of classes on Oct. 5, 2020."Habang ala-zombie na ang mga guro sa walang-tigil na patrabaho ng DepEd o mga manananggal na halos hatiin ang katawan sa dami ng gawain, para namang si Kamatayan ang ahensya sa pilit nitong paglilibing sa limot ng kanyang tungkulin sa wastong […]

  • 443 examinees pass the Forester Licensure exams
    by The Manila Times on October 27, 2021 at 10:19 am

    The Professional Regulation Commission (PRC) announces that 443 out of 761 passed the Forester Licensure Examination given by the Board for Foresters in Manila, Baguio, Cagayan de Oro, Cebu, Davao, Iloilo, Legazpi, Lucena, Pagadian, San Fernando, Tacloban, Tuguegarao and Zamboanga this October 2021.The members of the Board for Foresters who gave the licensure examination are Neria A. Andin, Chairman; Jose A. Lorenzo and Gerardo T. Cabreros, Members.Seq. No. Name1 ABAN, GLADYS PUJADAS2 ABAN, […]

  • Biz group, transport experts urge gov't to reconsider EDSA BRT project
    on October 27, 2021 at 10:03 am

    The government must prioritize the EDSA Bus Rapid Transit project, a business group and transport experts said.

  • Proposed P5.024-T budget for 2022 now in Senate hands
    by Ramon Royandoyan on October 27, 2021 at 9:41 am

    President Rodrigo Duterte’s final budget is now on its way to the Senate floor for deliberations.

  • Cebu Pacific to mount flights to Camiguin in November after upgraded airport reopens
    by tbergonia on October 27, 2021 at 9:22 am

    MANILA, Philippines—Cebu Pacific announced new flights to Camiguin starting November this year after the government reopened the province’s expanded gateway. In a statement, Cebu Pacific announced the launch of flights between Manila and Camiguin on Nov. 15 and restart of Cebu-Camiguin on Nov. 9. The budget airline’s Manila-Camiguin flights will operate twice per week (Monday and The post Cebu Pacific to mount flights to Camiguin in November after upgraded airport reopens appeared first […]

  • SWS: For 57% of Filipinos quality of life worsened in past year
    by Kaithreen Cruz on October 27, 2021 at 8:39 am

    A MAJORITY of Filipinos reported that their quality of life worsened in the past 12 months, said the Social Weather Stations (SWS) in their September 2021 survey results.Of those surveyed, 57 percent said that their life got worse (coined by SWS as losers), while 13 percent of them said that it got better (coined as gainers), resulting in a Net Gainer score of -44 percent.However, 29 percent of the respondents said that it was the same."Gainers minus Losers worsened from very low -31 in Second […]

  • How Rajah Broadcasting Network Inc is now a legendary station
    by The Manila Times on October 27, 2021 at 8:30 am

    RJFM or Rajah Broadcasting Network Inc. was founded in 1963 by Ramon "RJ" Jacinto, who was a teenager at the time. RJ has always been a pioneer and an innovator who took the helm. What started as a small station in the backyard of his parents' home became a legendary station. RJFM has influenced the Philippines in a way no other radio station has. RJFM was the first station to play music that other stations would not dare to play. It introduced Elvis Presley, the Beatles, the Beach Boys, the […]

  • Lucio Tan prepares $250-M loan to cash-strapped PAL
    by Ian Nicolas Cigaral on October 27, 2021 at 8:26 am

    Taipan Lucio Tan is alone in raising the money that his airline needs to survive.

  • Pacquiao thumbs down offer to be Marcos' VP
    by Javier Joe Ismael,Bernadette E. Tamayo on October 27, 2021 at 7:52 am

    PRESIDENTIAL aspirant and Sen. Emmanuel "Manny" Pacquiao thumbed down an offer to become the vice presidential bet of former senator Ferdinand "Bongbong" Marcos Jr. who is likewise seeking the presidency in the upcoming 2022 national elections."While I'm flattered that various camps [are] seeking me to be their VP, it requires the Presidency para magawa ang mga pangako ko sa mga mahihirap at sa mga nagsisikap na mula sa hirap (in order to fulfill my promises for the poor and for those aspiring […]

  • Jeyrick Sigmaton aka 'Carrot Man' wins Best Actor award in New York filmfest
    by Nika Roque on October 27, 2021 at 7:22 am

    BEST ACTOR 1 Jeyrick Sigmaton in ‘Dayas.’ SCREENSHOT FROM SINE CORDILLERA’S YOUTUBE CHANNEL Jeyrick Sigmaton a.k.a "Carrot Man" — who got the nickname in 2016 when his photos carrying carrots while working at a vegetable farm in the Mountain Province went viral — is now a Best Actor awardee.He won for his work in the short film "Dayas," which was nominated at this year's New York's International Film Festival Manhattan, Autumn edition.The internet […]

  • SC clears 2 fraternity members in hazing case
    by Jomar Canlas on October 27, 2021 at 7:11 am

    TWO members of the Tau Gamma Phi Fraternity were cleared in the death of an 18-year-old college student in 2009 due to hazing.In a decision penned by Justice Henri Jean Paul Inting, the court's Third Division reversed the Aug. 30 and Oct. 26, 2016 decision and resolution of the Court of Appeals (CA) that affirmed the Sept. 4, 2014 ruling of the Branch 20, Regional Trial Court (RTC), Imus, Cavite convicting Carlos Paulo Bartolome and Joel Bandalan of violating Section 4(a) of Republic Act 8049, […]

  • Colds days ahead as Pagasa announces onset of 'amihan'
    by Arlie O. Calalo on October 27, 2021 at 6:54 am

    COLD days are ahead following the onset of "amihan" or northeast monsoon and the end of "habagat" or southwest monsoon season, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) said on Wednesday.With the onset of the amihan season, the northeast wind flow is expected to gradually become more dominant over Northern Luzon, bringing cold and dry air, the state weather bureau said."Effects of the northeast monsoon or amihan are now being felt in the country," […]

  • 3 Catholic priests suspended for running for office in May 2022 elections
    by William Depasupil on October 27, 2021 at 5:47 am

    AT least three Catholic priests have been suspended from their clerical duties for seeking elective positions in the upcoming 2022 national and local elections.Suspended were Fr. Granwell Pitapit of the diocese ofLibmanan in Bicol, Fr. Emmanuel Alparce of the Diocese of Sorsogon and Fr. Emerson Luego of the Diocese of Tagum.Pitapit will run for mayor in Libmanan, the largest town of Camarines Sur.Luego is seeking election as mayor of Davao de Oro province's Mabini town, while Alparce is running […]

  • Duterte to Asean: 'Stand with Myanmar'
    by Kristina Maralit on October 27, 2021 at 5:43 am

    AS he reiterated the need for nations in the Southeast Asian Region to not cease in their united pursuit for peace and stability, President Rodrigo Duterte urged his fellow leaders to "stand with Myanmar" as it continues to be embroiled in a political crisis.In a statement released by Malacañang at the start of the 38th and 39th Asean Summit and Related Summits last Tuesday night, the Chief Executive expressed hope Myanmar will arrive at a peaceful end to the turmoil "for the welfare of its […]

  • Group expects businesses to recover as holiday season nears
    by postie on October 27, 2021 at 5:42 am

    MANILA, Philippines — As the holiday season approaches, a business group is expecting better sales and recovery from losses caused by the COVID-19 pandemic. “Very hopeful talaga tayo (We are very hopeful). We are expecting that we will be better this last quarter of the year. Lalong-lalo na ngayon, umpisa na ng pagsha-shop (especially now The post Group expects businesses to recover as holiday season nears appeared first on Inquirer Business.

  • Dela Rosa likens ICC probe to 'David vs Goliath'
    by Bernadette E. Tamayo on October 27, 2021 at 5:41 am

    SEN. Ronald "Bato" dela Rosa cited the biblical story of David killing Goliath in facing the investigation of the International Criminal Court (ICC) for his alleged involvement in the Duterte government's bloody war against drugs.The senator and standard-bearer of the Cusi-led Partido Demokratiko Pilipino-Lakas ng Bayan (PDP-Laban) in the 2022 national elections stressed this on Saturday in an online radio interview.He noted that the Bible states that David was able to kill the bulky Goliath, […]

  • Duterte: Stay united to keep peace, stability in South China Sea
    by Catherine S. Valente on October 27, 2021 at 5:37 am

    PRESIDENT Rodrigo Duterte has reiterated his call for unity in pursuing peace and stability in the South China Sea, saying that the Association of Southeast Asian Nations (Asean) must "not allow those with diverging interests to make our efforts fail." Scenes from the Malacañang Palace on October 27, 2021 as President Rodrigo Duterte participates and attends to the […]

  • Gordon on Duterte: Filipinos know who abused power
    by  Bernadette E. Tamayo on October 27, 2021 at 5:04 am

    SEN. Richard "Dick" Gordon on Wednesday said President Rodrigo Duterte should not lecture him about courtesy and good character because the Filipinos know who between them is abusive.The senator stressed this after Duterte told him to extend courtesy to resource persons whom he invited to shed light on the alleged overpriced medical supplies that the government bought from a small firm.Gordon, chairman of the Senate blue ribbon committee, is set to hold on October 28, the 13th hearing on the […]

  • Beijing Games organisers say virus 'biggest challenge,'100 days from start
    by Associated Press on October 27, 2021 at 4:44 am

    BEIJING: Beijing Winter Olympics organizers said Wednesday that protecting the Games from the coronavirus is the "biggest challenge", as China races to stamp out an outbreak 100 days before the event starts.The Chinese capital will in February become the first host of a Summer and Winter Games, and last week welcomed the Olympic flame with a low-key ceremony.But with just a few months until it kicks off, China is battling a virus outbreak that has seen millions told to stay at home, mass […]

  • Despite renewed lockdowns, Wilcon Depot posts higher earnings in Q3
    by Ramon Royandoyan on October 27, 2021 at 4:26 am

    Wilcon Depot Inc. recorded higher earnings in the third quarter despite strict quarantine restrictions.

  • Thailand prepares to welcome back tourists after devastating shutdown
    by Associated Press on October 27, 2021 at 4:19 am

    BANGKOK: Hotels, street food carts and tuk-tuks are gearing up for the return of tourists to Bangkok as Thailand prepares to re-open on November 1 to fully vaccinated visitors after 18 months of Covid travel curbs.But the steamy metropolis, the world's most-visited city before the pandemic, will take some time to get back to its pulsating, intoxicating old self, industry experts say.The coronavirus pandemic sent visitor numbers plummeting from 40 million in 2019 to just 73,000 in the first […]

  • LET THE FUTURE BEGIN: Moving forward despite Covid-19
    by The Manila Times on October 27, 2021 at 4:10 am
  • State holding Australian Open says no to unvaccinated players
    by Associated Press on October 27, 2021 at 4:09 am

    MELBOURNE: Unvaccinated players will not get special dispensation for the Australian Open, the top official in the state holding the Grand Slam said Wednesday, potentially ruling out reigning men's champion Novak Djokovic.A leaked email earlier this week suggested that players who were not inoculated against the coronavirus would be able to take part as long as they completed 14 days' quarantine.Australian Prime Minister Scott Morrison then said that unvaccinated players would be permitted to […]

  • Mariwasa launches 2 new products that promote style and comfort in homes and establishments
    by bdiaz on October 27, 2021 at 4:03 am

    Knowing the importance of sturdy and stylish flooring, Mariwasa Siam Ceramics Inc. recently released two new products — vinyl resilient flooring and tile grout — that promote style, comfort, and quality materials to homeowners.  Stylish 30×30 cm vinyl flooring One of the two products that the company launched is its vinyl flooring. Available in 30×30 cm The post Mariwasa launches 2 new products that promote style and comfort in homes and establishments appeared first on Inquirer […]

  • Lights on, nobody applying: skills shortage bites as Australia reopens
    by dlejano on October 27, 2021 at 3:53 am

    SYDNEY — After two years of stop-start COVID-19 lockdowns Australia is ready to party, but venues from restaurants to sporting stadiums are facing a difficult summer after a huge exodus of holiday workers and foreign students. Strict border closures have left a gaping hole in the market for casual workers, with hospitality-focused firms like Sydney’s The post Lights on, nobody applying: skills shortage bites as Australia reopens appeared first on Inquirer Business.

  • YouTuber Nas Daily 'makes peace' with Indigenous Filipino tattoo artist
    by Aric John Sy Cua on October 27, 2021 at 12:54 am

    PALESTINIAN-Israeli YouTuber Nuseir "Nas Daily" Yassin has "made peace" with Indigenous Filipino tattoo artist Apo Whang-Od.Nas Daily confirmed this in a Facebook video on his page on Tuesday night, acknowledging the help of the National Commission on Indigenous Peoples (NCIP)."Nas Academy worked for two months with the NCIP to visit Whang-od in person," he said in a video. "Our Filipino team trekked all the way there for two days and we met with the Butbut tribe in person and reconciled."A […]

  • KUWTT: New party vows support for Go| Oct. 27, 2021
    by The Manila Times on October 26, 2021 at 10:03 pm

    Good Day!Here are the top stories of The Manila Times for Wednesday, October 27, 2021.READ: New party vows support for GoA newly formed political party established on Tuesday an alliance with the ruling Partido Demokratiko Pilipino-Lakas ng Bayan to support the vice presidential bid of Sen. Christopher Lawrence "Bong" Go in the 2022 elections.READ: Crowding at dolomite beach fuels controversyManila Mayor Francisco "Isko Moreno" Domagoso asked on Tuesday the national pandemic task force to press […]

  • PH, South Korea conclude free trade pact talks
    by besguerra on October 26, 2021 at 8:08 pm

    MANILA, Philippines — The Philippines and South Korea have finally concluded their negotiations for a free trade agreement (FTA), which is expected to be signed early next year. Top trade officials of South Korea and the Philippines announced the conclusion of their FTA negotiations in a joint statement on Tuesday. They will negotiate further on The post PH, South Korea conclude free trade pact talks appeared first on Inquirer Business.

  • PSEi closes up by 0.56%
    by besguerra on October 26, 2021 at 8:07 pm

    The Philippine Stock Exchange Index (PSEi) rebounded on Tuesday as the benchmark measure moved in lockstep with regional indices after US stocks rallied and the Dow Jones Industrial Average hit a record high. The PSEi ended the session higher by 0.56 percent, or 40.56 points, to 7,252.10 while the broader all-shares index gained 0.44 percent, The post PSEi closes up by 0.56% appeared first on Inquirer Business.

  • Sept dollar flows swing back to deficit
    by besguerra on October 26, 2021 at 8:06 pm

    More dollars flowed out of the Philippines than entered it last month as the national government’s repayment of maturing foreign debt outweighed the economy’s earnings from overseas, according to the central bank. In a statement, the Bangko Sentral ng Pilipinas (BSP) said the country’s overall balance of payments position posted a deficit of $412 million The post Sept dollar flows swing back to deficit appeared first on Inquirer Business.

  • DOF orders BIR to track, tax online sales
    by besguerra on October 26, 2021 at 8:06 pm

    The Bureau of Internal Revenue (BIR) is putting up a dedicated unit that will track digital sales transactions and capture the correct taxes due from these goods and services. In a statement on Tuesday, the Department of Finance (DOF) said that Secretary Carlos Dominguez III recently ordered the BIR to not only establish a dedicated The post DOF orders BIR to track, tax online sales appeared first on Inquirer Business.

  • Small investors can buy up to P1M worth of Synergy shares
    by besguerra on October 26, 2021 at 8:04 pm

    Local small investors (LSI) are allowed to subscribe to as much as P1 million worth of shares of power grid holding firm Synergy Grid & Development Phils. Inc., which launched yesterday its re-initial public offering (re-IPO) of up to P13.85 billion. In an advisory, the Philippine Stock Exchange said the Securities and Exchange Commission (SEC) The post Small investors can buy up to P1M worth of Synergy shares appeared first on Inquirer Business.

  • Fiscal consolidation in PH going nowhere, says economist
    by besguerra on October 26, 2021 at 8:03 pm

    The Philippines is seen lagging behind in the region en route to fiscal consolidation or narrowing the pandemic-induced wider budget deficit and ballooning public debt due to its slow economic rebound, such that economists warned of a looming credit ratings downgrade. In a report on Tuesday, Pantheon Macroeconomics senior Asia economist Miguel Chanco said “fiscal The post Fiscal consolidation in PH going nowhere, says economist appeared first on Inquirer Business.

  • How to beat the market with Sloan Ratios
    by besguerra on October 26, 2021 at 8:02 pm

    Earnings are important drivers of share prices. Investors use earnings as basis to project how stocks are likely to be valued in the future. The problem is, not all earnings are created equal. Companies use accrual accounting to record any revenue or expense incurred, either as accounts receivables or payables, even if cash has not The post How to beat the market with Sloan Ratios appeared first on Inquirer Business.

  • BIZ BUZZ: Hospital arrest, the sequel
    by besguerra on October 26, 2021 at 8:01 pm

    No sooner did we publish Mrs. Hospital Detainee’s troubles on Monday when fresh details were shared with Biz Buzz about the controversy, including insights from her husband’s friends explaining how things have come to a pretty pass. But before we delve into that, the hyperactive group chats of the well-heeled were brought to a shocked The post BIZ BUZZ: Hospital arrest, the sequel appeared first on Inquirer Business.

  • PH logs in 4,393 new Covid cases
    by Red Mendoza on October 26, 2021 at 7:11 pm

    THE Philippines reported 4,393 new cases of the coronavirus disease 2019 (Covid-19) on Tuesday, the Department of Health (DoH) said, raising the number of infections to 2.77 million.Positivity rate is also down at 8.5 percent with 35,265 tests taken although the drop was attributed to the few laboratories that did not send their data to the DoH.Of the total number of infections, 19 percent or 53,642 are active cases.Recoveries are at 2.67 million while the death toll stands at 42,007.Occupancy […]

  • Senate panel OKs proposal to grant philanthropist Lizzie Zpbe de Ayala Filipino citizenship
    by  Bernadette E. Tamayo on October 26, 2021 at 5:33 pm

    THE Senate Committee on Justice on Tuesday approved the proposal to grant Filipino citizenship to philanthropist Elizabeth "Lizzie" Eder Zobel De Ayala.The panel, led by Sen. Richard "Dick" Gordon tackled Senate Bill 2221, authored by Senate Minority Leader Franklin Drilon, and House Bill 9376 on Zobel de Ayala's citizenship.Lizzie married Filipino businessman Jaime Augusto Zobel de Ayala in June 1987 in her hometown of Cali, Colombia. Since August 1987, she has made the Philippines her […]

  • Lacson offers solutions to post-pandemic woes
    by  Bernadette E. Tamayo on October 26, 2021 at 5:16 pm

    THE Lacson-Sotto tandem has readied a two-pronged solution, vaccination and opening up of the economy, to address post-pandemic problems.Sen. Panfilo "Ping" Lacson and Senate President Vicente "Tito" Sotto 3rd are running for president and vice president, respectively, in the 2022 national elections.The two said they will focus on health and the economy in dealing with the pandemic's lingering effects should they win in next year's polls.Lacson is Partido Reporma's standard-bearer while Sotto […]

  • Marcos vows to transform PH into logistics powerhouse
    by  Bernadette E. Tamayo on October 26, 2021 at 5:09 pm

    FORMER senator Ferdinand "Bongbong" Marcos Jr. wants the Philippines to become the next logistics powerhouse in Asia to expedite the country's economic recovery post-pandemic.Marcos on Tuesday said that should he win in next year's presidential race, he intends to modernize existing seaports, airports, and railways and increase their accessibility.He said that investment in these areas will raise the country's import and export capacity and provide opportunities for local industries to […]

  • Police to provide support for face-to-face classes
    by Dempsey Reyes on October 26, 2021 at 5:08 pm

    THE leadership of the Philippine National Police (PNP) on Tuesday assured it would provide assistance to the pilot run of face-to-face classes in select schools.The Department of Education(DepEd) announced recently that there would be a pilot implementation of face-to-face classes on November 15 with 90 public schools participating.PNP chief Gen. Guillermo Lorenzo Eleazar said the police organization was now preparing for the face-to-face classes."I have already directed the unit commanders […]

  • SC extends anew validity of all notarial commissions
    by Jomar Canlas on October 26, 2021 at 4:58 pm

    THE Supreme Court extended anew the validity of "all notarial commissions from 2019" for another six months from its last extension on June 22, 2021 due to the ongoing difficulties caused by the health pandemic."Accordingly, all notarial commissions granted in 2019 and whose validity had been previously extended until Dec. 31, 2021 pursuant to the Court's Dec. 1, 2020 and June 22, 2021 Resolutions are deemed further extended and shall thus remain valid for an additional period of six months […]

  • Las Piñas-Parañaque reclamation project OK'd
    by Jomar Canlas on October 26, 2021 at 4:47 pm

    THE Supreme Court has upheld the Court of Appeal decision that junked the petition for writ of kalikasan filed by Sen. Cynthia Villar who seeks to stop the planned reclamation project covering 635.14 hectares of water in Manila Bay along the Bacoor-Las Piñas-Parañaque coastline.In a 33-page decision penned by Associate Justice Rosmari Carandang, the full court denied Villar's petition as it affirmed the decision dated April 26, 2013 and the resolution dated Aug. 14, 2013 of the CA, which […]

  • 7 fall in drug raids in southern Metro Manila
    by Christian Crow Maghanoy on October 26, 2021 at 4:44 pm

    POLICE busted seven drug peddlers and confiscated a total of P120,360 worth of shabu on Monday, in an operation led by the Southern Police District (SPD).BGen. Jimili Macaraeg, SPD chief, launched a crackdown against the proliferation of illegal drugs over the Southern part of Metro Manila, particularly in the cities of Makati, Las Piñas and Taguig, and the municipality of Pateros.In Makati, the Special Drug Enforcement Unit and the Investigation Section launched an operation along Acacia […]

  • PET CEMETERY
    by The Manila Times on October 26, 2021 at 4:41 pm
  • UN to help Philippines recover from Covid-19
    by  Bernadette E. Tamayo,Red Mendoza on October 26, 2021 at 4:41 pm

    THE United Nations will help finance Philippine recovery programs to help the country rebuild the economy gravely affected by the Covid-19 pandemic.UN Resident Coordinator in the Philippines Gustavo Gonzalez made the remark on Monday evening during a virtual commemoration of the 2021 United Nations Day."We have set one priority with the government for the coming year which is to help set up a diversified financing framework that will leverage additional resources for Covid-19 recovery and […]

  • ABOVE GROUND
    by The Manila Times on October 26, 2021 at 4:39 pm
  • San Juan provides free medicines
    by Christian Crow Maghanoy on October 26, 2021 at 4:38 pm

    QUALIFIED residents of San Juan City may now avail of free doctor-prescribed medicines.The medicines will be distributed from city hall and concerned barangay (village) health centers, according to Mayor Francisco Javier "Francis" Manlapit Zamora."Today we will formally open our free medicine for the modern San Juan. Our program aims to provide free medicine to our citizens. Free medicine that can help us with our needs," Zamora said in Filipino of the medical program that started on […]

  • Comelec: Expect 'major changes' in campaign guidelines
    by William Depasupil on October 26, 2021 at 4:37 pm

    POLITICAL parties and candidates in the 2022 synchronized national and local elections are in for a great surprise when the Commission on Elections (Comelec) will release this month the new campaign guidelines that will govern the mode of campaigning under the new normal.Comelec spokesman James Jimenez also disclosed on Tuesday that the poll body would likewise introduce measures to make the voting process responsive to the health guidelines of the government to avoid the spread of Covid-19."We […]

  • New party vows support for Go
    by Javier Joe Ismael,Catherine S. Valente on October 26, 2021 at 4:35 pm

    A NEWLY formed political party on Tuesday established an alliance with the ruling Partido Demokratiko Pilipino-Lakas ng Bayan (PDP-Laban) to support the vice presidential bid of Sen. Christopher Lawrence "Bong" Go in the 2022 elections.The Reform Party, headed by former Magdalo member James Layug, and the PDP-Laban, led by Energy Secretary Alfonso Cusi, have signed an agreement affirming support for Go. In a press conference, Layug highlighted the importance of forging an alliance with the […]

  • Quarantine exemption for travelers proposed
    by Catherine S. Valente on October 26, 2021 at 4:32 pm

    PRESIDENTIAL Adviser for Entrepreneurship Jose Maria "Joey" Concepcion 3rd on Tuesday expressed hope the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) will approve his proposal to exempt from quarantine returning Filipinos and visitors from North America.Concepcion said that being a big market for airlines, North America could help local carriers recover from huge losses incurred during the pandemic, when lockdowns prevented people from traveling to […]

  • Crowding at dolomite beach fuels controversy
    by Krisitina Maralit,Eireene Jairee Gomez,Catherine S. Valente on October 26, 2021 at 4:30 pm

    MANILA Mayor Mayor Francisco "Isko Moreno" Domagoso on Tuesday asked the national pandemic task force to press charges against officials of the Department of Environment and Natural Resources (DENR) who approved the reopening of the Manila Baywalk dolomite beach for disregarding rules limiting crowd numbers. Domagoso also said the strip of artificial white sand was reopened without consulting with the city government."Binuksan nila; hindi naman kami ininform (They opened it, but we weren't […]

  • BoP goes into deficit in Sept
    by Anna Leah E. Gonzales on October 26, 2021 at 4:30 pm

    The country's balance of payments (BoP) posted a deficit of $412 million in September, the Bangko Sentral ng Pilipinas (BSP) said.Released late on Monday, the figure was a reversal from the $2.1-billion BoP surplus recorded in the same month last year and the $1.04-billion surplus in August this year.The payments balance is a record of all trade and financial transactions made between entities in one country and the rest of the world in a given period. A shortfall occurs when the country […]

  • Times forum scans growth prospects amid pandemic
    by Anna Leah E. Gonzales on October 26, 2021 at 4:27 pm

    THE Philippine economy contracted by a record 9.6 percent in 2020 due to the combined effects of the Taal Volcano eruption and the Covid-19 pandemic.More than a year after the first imposition of the strictest community quarantine measure, the economy went back to positive territory, growing by 11.8 percent in the second quarter, a reversal from the year-earlier 17-percent contraction.According to the National Economic and Development Authority (NEDA), the economy is starting to recover.The […]

  • PH shares back in the green
    by Faye Almazan on October 26, 2021 at 4:27 pm

    LAST-minute buying enabled the Philippine index to return to positive territory on Tuesday, putting a stop to its preceding back-to-back decline.The 30-member Philippine Stock Exchange index rose by 0.56 percent, or 40.56 points, to its intraday high of 7,252.10 while the broader All Shares added 0.44 percent, or 19.68 points, to finish at 4,456.52.Japhet Tantiangco, senior research analyst at Philstocks Financial Inc., said the recent change in the country's Covid-19 risk classification […]

  • PH, Korea finalize trade agreement
    by Anna Leah E. Gonzales on October 26, 2021 at 4:26 pm

    After more than two years, the Philippines-Korea Free Trade Agreement (FTA) has been finalized, the Department of Trade and Industry said.Trade Secretary Ramon Lopez and Yeo Han-Koo of the Ministry of Trade, Industry and Energy of the Republic of Korea announced the development in a joint statement issued on Tuesday.Lopez and Han-Koo said the finalization of the agreement covers trade in goods, trade remedies, rules of origin, customs procedures and trade facilitation, economic and technical […]

  • Duterte worried over failure to hit jab target
    by Krisitina Maralit on October 26, 2021 at 4:24 pm

    PRESIDENT Rodrigo Duterte has sounded the alarm over the possible failure of government to reach its target number of inoculated Filipinos against Covid-19 by year's end.According to him, with jabs fewer than a million a day, the country is hard-pressed in achieving its goal of seeing at least 50 million fully vaccinated Filipinos by the time 2022 rolls in."We also need to ramp up vaccination rates in various LGUs (local government units) in order to reach our target of inoculating 50 million […]

  • Changes to power supply bidding opposed
    by  Jordeene B. Lagare on October 26, 2021 at 4:24 pm

    VARIOUS sectoral groups on Tuesday expressed their opposition to the Department of Energy's (DoE) plan to amend certain provisions governing the competitive bidding for procuring power supply.Representatives from various business, consumer, youth and advocacy groups signed a joint manifesto opposing the proposed amendment to the Competitive Selection Process (CSP) to accommodate unsolicited proposals for power supply to distribution utilities (DUs) and electric cooperatives (ECs).The joint […]

  • Govt urged to probe top plastic polluters
    by Eireene Jairee Gomez on October 26, 2021 at 4:24 pm

    GREENPEACE Philippines on Tuesday urged the government to scrutinize the country's top plastic polluters' false sustainability claims amid the persisting plastic pollution.Based on Break Free from Plastic's 2021 global Brand Audit Report, Coca-Cola Co., Universal Robina Corp., Nestlé, Procter & Gamble and Mondelēz International are the top plastic polluters in the country."Although this is not surprising, it is disappointing that Coca-Cola and other companies continue to ignore people's […]

  • Ayala Land lists P3-B, 10-year bonds
    by Faye Almazan on October 26, 2021 at 4:23 pm

    Property giant Ayala Land Inc. has listed its P3-billion fixed-rate bonds due 2031 on the Philippine Dealing & Exchange Corp. (PDEx).The issuance serves as the first tranche of Ayala Land's newly approved third shelf registration program of P50 billion."This issuance... will bring us closer to concluding our P50-billion debt refinancing program, the largest ever, as we continue to bring down our cost of debt and lengthen our maturities," Ayala Land deputy treasurer Jose Emilio Jamir said […]

  • CLI set to start Ming-Mori project
    by Faye Almazan on October 26, 2021 at 4:23 pm

    CEBU Landmasters Inc. (CLI) on Tuesday announced it broke ground on its 100-hectare reclamation project, Minglanilla Techno Business Park (Ming-Mori).In a disclosure, the VisMin property developer said civil construction works for the project are scheduled to begin in the first quarter next year.The P20-billion development is targeted to be completed by 2025 while titling of properties will be done in phases starting 2023.Ming-Mori received the final notice to proceed from the Philippine […]

  • Complaint junked vs ex-DoTr exec, 2 others
    by Ma. Reina Leanne Tolentino on October 26, 2021 at 4:22 pm

    THE Office of the Ombudsman has dismissed the complaint filed by Busan Universal Rail Inc. (BURI) against now former Transportation Undersecretary Cesar Chavez and two others.BURI filed the complaint in September 2017 against Chavez, Hernando Cabrera and Jorjette Bellen. The complaint involved some of BURI's billings.The Ombudsman said in a joint resolution that "probable cause was not established to indict Chavez and Cabrera for violation of Section 3 (e) and (f) of Republic Act (RA) 3019 or […]

  • Remote or virtual audit – Adapting to the 'new normal'
    by Cristina Joy Dumayas on October 26, 2021 at 4:22 pm

    Since 2020, due to the Covid-19 pandemic, many were forced to abruptly adapt and adjust from the traditional "on-site" audit to remote or virtual audit. This transition has been incredibly fast that auditors are still familiarizing themselves with the new procedures.What is a remote audit?A remote audit, also known as virtual audit, refers to the use of information and communication technology (ICT) to gather information, interview an auditee, among others, when "face-to-face" methods are not […]

  • DA eyes additional fertilizer subsidies for farmers
    by Catherine Talavera on October 26, 2021 at 4:00 pm

    The Department of Agriculture is looking at providing additional fertilizer subsidies to farmers as well as setting a suggested retail price as part of efforts to address the rising costs of the product.

  • Government agencies told to implement competition policies
    by Louella Desiderio on October 26, 2021 at 4:00 pm

    The Philippine Competition Commission welcomed President Duterte’s issuance of an administrative order directing all government agencies to implement the National Competition Policy as this would provide a level playing field for businesses.

  • BIR taps Russian, Korean experts in digital taxation
    by Elijah Felice Rosales on October 26, 2021 at 4:00 pm

    The Bureau of Internal Revenue will work with its counterparts from Russia and South Korea to come up with a tax structure that would capture digital transactions.

  • Surveys
    by Boo Chanco on October 26, 2021 at 4:00 pm

    There are surveys and there are those pretending to be surveys. It is election season and posting numbers indicating likely voting preferences generates social media clicks and traditional media attention.

  • ‘Philippine recovery imperilled by failure to narrow budget gap’
    by Louise Maureen Simeon on October 26, 2021 at 4:00 pm

    The Philippines’ economic recovery may be put in jeopardy as the government continues to fail in narrowing the budget shortfall, a global think tank said.

  • Prices of building materials spike as NCR lockdowns ease
    by Louise Maureen Simeon on October 26, 2021 at 4:00 pm

    Retail and wholesale prices of building materials in Metro Manila surged in September as business activities resumed with the easing of quarantine measures in the capital, the Philippine Statistics Authority said.

  • Guidelines to streamline permits for fiber, cables in telco released
    by Louella Desiderio on October 26, 2021 at 4:00 pm

    The Anti-Red Tape Authority, Department of Information and Communications Technology, along with other key agencies have signed the guidelines for streamlining permits and clearances for installation of fiber and cables for the telco sector to help improve internet services.

  • 4 Philippine companies among World’s top 10 women-led firms
    by Iris Gonzales on October 26, 2021 at 4:00 pm

    Four Philippine companies made it to the top 10 companies in the world led by women CEOs and with the highest percentage of women executive officers, according to US-based Corporate Women Directors International.

  • BOP back to deficit in September
    by Lawrence Agcaoili on October 26, 2021 at 4:00 pm

    The country’s balance of payments reverted to a deficit of $412 million in September, ending two months of surpluses, as the national government paid maturing foreign obligations.

  • WorldRemit sees marked shift to digital
    by Lawrence Agcaoili on October 26, 2021 at 4:00 pm

    Leading remittance firm WorldRemit sees higher adoption of digital remittances by overseas Filipino workers (OFWs) as cross-border cash flows have adversely been affected by the pandemic.

  • PSEi advances on late buying in blue chips
    by Iris Gonzales on October 26, 2021 at 4:00 pm

    Shares rebounded yesterday, tracking a rally on Wall Street, as investors picked up stocks of oversold blue chips.

  • What would Secretary Cusi do?
    by Iris Gonzales on October 26, 2021 at 4:00 pm

    Energy Secretary Alfonso Cusi, finding himself at the center of the controversy related to the sale of Malampaya to Dennis Uy’s Udenna Group, said it’s a damned-if-you-do, damned-if-you-don’t situation.

  • Insurance premiums rise 37% to P187 billion
    by Elijah Felice Rosales on October 26, 2021 at 4:00 pm

    Insurance premiums grew more than 37 percent to P187 billion in the second quarter as the economic reopening heightened demand for both life and non-life policies.

  • ICTSI deploys 5G technology at MICT
    by Richmond Mercurio on October 26, 2021 at 4:00 pm

    Ports giant International Container Terminal Services Inc. is set to operate the country’s first 5G-enabled “intelligent” port at its flagship Manila International Container Terminal under a partnership with telco giant PLDT Inc. and its wireless subsidiary Smart Communications Inc.

  • Philippines, South Korea wrap up talks on free trade
    by Louella Desiderio on October 26, 2021 at 4:00 pm

    The Philippines and Korea have concluded negotiations for a free trade agreement, which is aimed to be signed before February next year.

  • South Korea, Philippines strike free trade deal
    by kadraneda on October 26, 2021 at 12:05 pm

    South Korea has concluded a free trade agreement with the Philippines in a move expected to bolster ties with the Southeast Asian nation and help diversify South Korea’s trade portfolio, Seoul’s trade ministry said Tuesday. Trade Minister Yeo Han-koo and his Filipino counterpart, Ramon Lopez, were to declare the conclusion of the bilateral Free Trade The post South Korea, Philippines strike free trade deal appeared first on Inquirer Business.

  • PH looking into ETM financing in shift to nonpolluting energy
    by tbergonia on October 26, 2021 at 9:18 am

    MANILA, Philippines — The Philippines is looking into the viability of the so-called energy transition mechanism (ETM) to finance its shift to clean and renewable sources of power from the current dependence on coal. The Asian Development Bank (ADB) and the Philippines, Indonesia, and Vietnam were studying the feasibility of the ETM program to establish The post PH looking into ETM financing in shift to nonpolluting energy appeared first on Inquirer Business.

  • Most Asian markets rise after Wall St record, earnings in focus
    on October 26, 2021 at 9:07 am

    Asian markets mostly rose on Tuesday following fresh records on Wall Street, with healthy corporate earnings overshadowing ongoing concerns about inflation, while progress in Washington on Joe Biden's big-spending economic plans also provided support.

  • Insurers’ net income up 29.4 percent to P24.6 billion in first half of 2021
    by jcristobal on October 26, 2021 at 8:06 am

    MANILA, Philippines—Insurers’ aggregate bottom line grew 29.4 percent year-on-year to P24.6 billion in the first half of 2021 because of improving economic conditions and more interest in insurance coverage amid a prolonged pandemic, the Insurance Commission (IC) said on Tuesday (Oct. 26). In a statement, Insurance Commissioner Dennis Funa said the combined net income of The post Insurers’ net income up 29.4 percent to P24.6 billion in first half of 2021 appeared first on Inquirer […]

  • Foreign debt payment returns PH dollar stash to deficit in September
    by dagacer on October 26, 2021 at 8:00 am

    MANILA, Philippines—More dollars left than entered the Philippines last month as the national government’s foreign debt payments outweighed earnings from overseas, according to the Philippine central bank. In a statement, the Bangko Sentral ng Pilipinas (BSP) said the country’s overall balance of payments position posted a deficit of $412 million in September 2021, marking a The post Foreign debt payment returns PH dollar stash to deficit in September appeared first on Inquirer Business.

  • Seoul court fines Samsung leader Lee for unlawful sedative use–Yonhap
    by dlejano on October 26, 2021 at 6:47 am

    SEOUL — A Seoul court fined Samsung Electronics Co Ltd Vice Chairman Jay Y. Lee 70 million won ($59,461.62) plus a fee for unlawful use of a controlled substance, Yonhap reported on Tuesday. Seoul Central District Court fined Lee for being administered propofol, a sedative used in anesthesia, multiple times between 2015-2020, Yonhap said. Under The post Seoul court fines Samsung leader Lee for unlawful sedative use–Yonhap appeared first on Inquirer Business.

  • Ripple and Tranglo Singapore’s partnership scales to new heights in Asia Pacific
    by vcatibog on October 26, 2021 at 3:49 am

    Ripple, the leading provider of enterprise blockchain and crypto solutions for cross-border payments, announced new milestones in its partnership with Tranglo — following Ripple’s intent to acquire a 40% stake in Asia’s leading cross-border payments specialist in March 2021 to scale the footprint of RippleNet, Ripple’s global financial network, in the region and beyond. The partnership has demonstrated The post Ripple and Tranglo Singapore’s partnership scales to new heights in […]

  • Filinvest REIT Corporation Notice of Annual Stockholders’ Meeting
    by bdiaz on October 26, 2021 at 2:57 am

    See below for Notice of Annual Stockholders’ Meeting of Filinvest REIT Corporation: ADVT. The post Filinvest REIT Corporation Notice of Annual Stockholders’ Meeting appeared first on Inquirer Business.

  • End-Sept budget deficit widens to P 1.14T, up 29.6%
    by besguerra on October 25, 2021 at 8:06 pm

    The end-September budget deficit widened by 29.6 percent year-on-year to P1.14 trillion due to higher, but still below-program, government spending during the first nine months. The Bureau of the Treasury’s cash operations report released on Monday showed expenditures from January to September climbed 11.7 percent to P3.38 trillion from P3.02 trillion a year ago. The The post End-Sept budget deficit widens to P 1.14T, up 29.6% appeared first on Inquirer Business.

  • COVID-19 cost PH economy $43B in 2020, says JCER
    by besguerra on October 25, 2021 at 8:05 pm

    The COVID-19 pandemic shed $43 billion from the Philippine economy last year—the eighth-highest economic toll among 15 Asian economies, as the tourism- and services-dependent region suffered from lockdowns to contain the deadly coronavirus, the think tank Japan Center for Economic Research (Jcer) said on Monday. The Singapore-based DBS Bank also expects the Philippines, alongside India The post COVID-19 cost PH economy $43B in 2020, says JCER appeared first on Inquirer Business.

  • PSEi taking a ‘nice pause’ to set up Christmas momentum
    by besguerra on October 25, 2021 at 8:04 pm

    The benchmark Philippine Stock Exchange (PSEi) saw a “healthy pullback” on Monday as it prepares for another leg up in the coming weeks on more positive economic prospects. On Monday, the PSEi dropped 1.07 percent, or 78.07 points, to 7,211.54 while the broader all-shares index shed 0.58 percent, or 25.86 points, to 4,436.84. Astro del The post PSEi taking a ‘nice pause’ to set up Christmas momentum appeared first on Inquirer Business.

  • Expect pork prices to remain elevated
    by besguerra on October 25, 2021 at 8:03 pm

    Due to delays in importation, pork supply would remain short by 278,600 metric tons by year-end and would keep prices elevated, the state planning agency National Economic and Development Authority (Neda) said. In a report on Monday, Neda also projected a supply shortage in lowland vegetables with a total production of only 1.3 million MT The post Expect pork prices to remain elevated appeared first on Inquirer Business.

  • SMC eyes Sangley semicon hub
    by besguerra on October 25, 2021 at 8:02 pm

    Foods, drinks and infrastructure conglomerate San Miguel Corp. (SMC) wants to build a manufacturing hub in Sangley, Cavite, as the local government struggles to get its $10-billion international airport project off the ground. Ramon S. Ang, president of SMC, told the Inquirer that the project will focus on manufacturing semiconductors, essential components in electronic devices The post SMC eyes Sangley semicon hub appeared first on Inquirer Business.

  • Limits of data privacy
    by besguerra on October 25, 2021 at 8:01 pm

    Data privacy got an undeserved black eye at the hearing of the Senate blue ribbon committee on the sale of medical supplies to the government by Pharmally Pharmaceutical Corp. Despite a measly subscribed capital stock of P625,000, no sales revenues in 2019, losses of P25,549 representing tax and license expenses and, this takes the cake, The post Limits of data privacy appeared first on Inquirer Business.

  • Tesla drives toward $1 trillion club on record Hertz order
    by Alexander Magno on October 25, 2021 at 2:31 pm

    Tesla Inc. on Monday neared $1 trillion in market capitalization as the company founded by Elon Musk received its biggest-ever order from Hertz, which announced plans to buy 100,000 electric rental cars. Tesla shares opened up 4.5% at $950.53, a new record high, following the order. Shares were also buoyed by news of the company’s The post Tesla drives toward $1 trillion club on record Hertz order appeared first on Inquirer Business.

  • Digital remittance rising among overseas Filipinos—WorldRemit
    by jcristobal on October 25, 2021 at 12:58 pm

    MANILA, Philippines—Digital payments continued to see increased use throughout the Philippines as the country continued to grapple with the COVID pandemic, which an international money transfer firm said was true in cross border transactions as well. In a statement, the country head of digital remittance firm WorldRemit said the upward trend of digital payments will The post Digital remittance rising among overseas Filipinos—WorldRemit appeared first on Inquirer Business.

  • P120.22 billion COVID-19 funds still unspent as of end-September
    by besguerra on October 25, 2021 at 10:39 am

    MANILA, Philippines — Implementing agencies have yet to spend P120.22 billion in pandemic response funds or nearly a fifth of the total of P690.26 billion released by the Department of Budget and Management (DBM) during the past one-and-a-half years to fight COVID-19. The latest DBM data showed that disbursements or actual spending of money set The post P120.22 billion COVID-19 funds still unspent as of end-September appeared first on Inquirer Business.

  • BSP to test peso bills made with polymer, not abaca
    by tbergonia on October 25, 2021 at 9:40 am

    MANILA, Philippines—The central bank said on Monday (Oct. 25) that its planned shift to peso notes reinforced with plastic-like material — described by the regulator as “polymer banknotes” — will save money in the long run as the more durable material will reduce production and replacement costs. The Bangko Sentral ng Pilipinas (BSP) also downplayed The post BSP to test peso bills made with polymer, not abaca appeared first on Inquirer Business.