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UAAP stars turn back NCAA counterparts

Inquirer Breaking News - Sat, 06/01/2019 - 05:30
Straight from his high school graduation, Mark Nonoy arrived just in time---the start of the fourth period---to help Team UAAP cement an 86-83 victory over Team NCAA in the Filoil Flying V Preseason Cup All-Star Game on Friday. "He's a jitterbug," UAAP coach Franz Pumaren of Adamson said when asked about Nonoy, whose pass to a streaking Simon Camacho after a missed jumper by NCAA's JC Marcelino led to the game's final two points. Nonoy, who will remain with University of Santo Tomas and quarterback the senior team after a decorated stint in high school, finished with eight points despite coming in late for the match. The UAAP selection was up by six, 84-78, going into the final ...

Keep on reading: UAAP stars turn back NCAA counterparts
Categories: Breaking News

Duterte to China: Why claim entire South China Sea?

Inquirer Breaking News - Sat, 06/01/2019 - 05:30
  TOKYO---President Duterte on Friday said he loved China as an ally but questioned the claim by the Asian economic powerhouse over the whole South China Sea.   It was the first time that Duterte directly confronted China publicly on whether it had the right to claim the strategic waterway.   The President made the remarks in a speech at the 25th International Conference on the Future of Asia in Tokyo organized by Nikkei Inc.   "I love China," he said. "it has helped us a bit. But it behooves upon us to ask: Is it right for a country to claim the whole ocean?" Aggressive actions   Philippine defense and military officials hav...

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Categories: Breaking News

More monetary easing looms

Inquirer Breaking News - Sat, 06/01/2019 - 05:30
Prices are expected to have risen between 2.8-3.6 percent in May ---broadly unchanged from the previous month's moderate pace ---due to the combined effects of a transport fare hike in the Visayas and the higher cost of selected food items, according to central bank economists. In a statement, the Department of Economic Research of the Bangko Sentral ng Pilipinas said the May inflation rate, which follows the 3-percent pace of price increases in April, could also be influenced temporarily by "positive base effects" coming off high levels recorded during the same period last year. Meanwhile, lower rice and domestic oil prices alongside downward adjustment in electricity rates are se...

Keep on reading: More monetary easing looms
Categories: Breaking News

Fitch affirms ‘BBB’ rating for PH

Inquirer Breaking News - Sat, 06/01/2019 - 05:28
Fitch Ratings maintained the country's credit rating at "BBB" with a "stable" outlook, citing sustainability of the economy's robust growth while recognizing successful efforts to bring inflation back to target. The rating is a notch above the minimum investment grade and the stable outlook indicates the absence of factors that can change the rating within the short term. It came a few weeks after another international debt watcher, Standard & Poor's, raised the Philippines' credit rating to "BBB+"---two notches above investment grade and the country's most credit-worthy status to date. In a report released May 30, 2019, Fitch said it expected the Philippine economy to grow ...

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Categories: Breaking News

New hope for local coconut farmers as US opens market

Inquirer Breaking News - Sat, 06/01/2019 - 05:28
The Philippines is now preparing for its first shipment of young coconuts to the United States after a new trade deal was struck between the two countries following a bilateral meeting last week. The local coconut industry is aiming to log its first shipment in July, with high hopes that it may be able to dominate the coconut segment of the US market now being led by Thailand. While Thailand has stronger government assistance and is more diversified with its products, Philippine Coconut Authority (PCA) consultant Tommy Jalos said the government "is looking forward to penetrate the US market with a bigger volume and more attractive price points." Agriculture Secretary Emmanuel Pi...

Keep on reading: New hope for local coconut farmers as US opens market
Categories: Breaking News

No threat to inflation seen from prolonged El Niño

Inquirer Breaking News - Sat, 06/01/2019 - 05:26
The El Nio phenomenon may linger in the country longer than expected, but the Bangko Sentral ng Pilipinas (BSP) said this would not have an effect on inflation and put "negligible" pressure in the price of rice. Bruce Tolentino, a member of the policymaking Monetary Board of the Bangko Sentral ng Pilipinas, said that even when a much longer drought would persist until 2020 as forecast by the state weather bureau, the affected areas were "not significant for rice," adding that "rains have already come for Central Luzon and Cagayan Valley" where the bulk of the country's rice production came from. This means the impact of the El Nio especially in food production would not be drastic ...

Keep on reading: No threat to inflation seen from prolonged El Niño
Categories: Breaking News

PAL sets share sale in ‘20 to raise funds for expansion

Inquirer Breaking News - Sat, 06/01/2019 - 05:24
  The listed operator of flag carrier Philippine Airlines (PAL) is launching a share sale in 2020 after stockholders on Thursday approved a plan to increase its authorized capital, company president Jaime Bautista said. Fresh funds from the share offer will help PAL Holdings expand its network and acquire more planes. PAL Holdings said on Thursday it had sought the Securities and Exchange Commission's approval as shareholders gave the go-ahead to increase its capital by almost 50 percent to P20 billion. Bautista told reporters at the sidelines of PAL Holdings' annual meeting that they would finalize details pertaining to the offer, including the size of the transacti...

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Categories: Breaking News

AirAsia PH reported profit in Q1

Inquirer Breaking News - Sat, 06/01/2019 - 05:22
Budget airline AirAsia Philippines posted a profit in first quarter of the year as it expanded capacity amid high demand. Malaysia's AirAsia Berhad said its Philippine unit recorded a net income of P425 million, up 12 percent, as revenue rose by 27 percent. The company said the performance put AirAsia Philippines and other regional units on track to end 2019 with a profit. AirAsia Philippines booked a P2.94-billion loss in 2018 on higher jet fuel expenses. AirAsia Philippines has been expanding aggressively, widening its route network and increasing its fleet of mid-range Airbus A320s for domestic and regional flights. Meanwhile, it has moved to contain costs and boost yields...

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Categories: Breaking News

PNB plans P12-B rights offering, doubles euro note plan

Inquirer Breaking News - Sat, 06/01/2019 - 05:22
Tycoon Lucio Tan-led Philippine National Bank (PNB) is firming up plans to raise fresh funds to support asset growth. In a stock exchange filing on Friday, PNB said a P12-billion rights offering will start on June 26 even as it announced that it had doubled its euro medium term note (EMTN) program to $2 billion. PNB said the rights offering would involve the listing of up to 300 million common shares. This will widen its common equity tier 1---a key indicator of a bank's financial strength. The fresh funds will allow PNB "to sustain its asset growth." According to the filing, the rights offer will run from June 26 to July 5 this year. The offer price and entitlement ratios have ...

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Categories: Breaking News

Stocks rally on BSP rate cut news

Inquirer Breaking News - Sat, 06/01/2019 - 05:20
Philippine stocks rallied on Friday on news the Bangko Sentral ng Pilipinas (BSP) is open to further interest rate cuts, a move that will unleash added liquidity that is typically a boon to the equities market. The benchmark Philippine Stock Exchange index (PSEi) jumped 1.7 percent, or 133.47 points, to 7,970.02 while the broader All-Shares index was up 1.42 percent, or 68.31 points, to 4,890.37. In an interview with Bloomberg released on Friday, BSP Governor Benjamin Diokno promised that more rate reductions were on the way, with the timing based on upcoming economic data. Diokno also said he wanted to further lower the reserve requirement ratio for banks. The news helped lift ...

Keep on reading: Stocks rally on BSP rate cut news
Categories: Breaking News

New plants seen boosting ACR performance in ‘19

Inquirer Breaking News - Sat, 06/01/2019 - 05:18
Alsons Consolidated Resources Inc. (ACR) sees good prospects for its full-year 2019 performance following a flattish first quarter as its prospective baseload power plants already have secured contracts. With this, the Mindanao-based company is now pushing for the completion of its renewable energy projects, particularly its hydro power facilities. "We have good prospects this year mainly with the completion of Sarangani Energy Corp.'s second 105-megawatt generator," ACR executive vice president Tirso G. Santillan Jr. said in a briefing. Santillan said the coal-fired generator---which would start operations in the second half of 2019---would boost ACR's revenue, aside from contr...

Keep on reading: New plants seen boosting ACR performance in ‘19
Categories: Breaking News

Dutch hostage, 6 Abus killed in clash

Inquirer Breaking News - Sat, 06/01/2019 - 05:16
  ZAMBOANGA CITY---A long-held Dutch hostage was shot and killed by his Abu Sayyaf captors on Friday when he tried to escape during a gunbattle in Sulu province, military officials said.   Dutch bird-watcher Ewold Horn was fatally shot while trying to escape during a fierce firefight between the bandit group and Army troops in the jungles of Sulu's mountainous Patikul town, said Joint Task Force Sulu commander Brig. Gen. Divino Pabayo Jr.   Two-hour firefight   At least six bandits were killed and 12 others wounded in the nearly two-hour firefight at Barangay Pansul, Patikul town, Sulu, on Friday morning.   Col. Gerry Besana, public...

Keep on reading: Dutch hostage, 6 Abus killed in clash
Categories: Breaking News

Spider venom-modified fungus fights malaria

CNN Top Stories - Sat, 06/01/2019 - 04:35
Researchers have developed a new weapon in the fight against malaria -- a fungus genetically engineered using a gene found in the venom of an Australian spider.
Categories: Breaking News

Mexico's president fires back at Trump

CNN Top Stories - Sat, 06/01/2019 - 04:21
Mexican President Andrés Manuel López Obrador responds to President Trump's threat to impose tariffs on Mexico until they take steps to reduce the flow of migrants.
Categories: Breaking News

The UEFA Champions League Final will have fans on edge this weekend. But don't forget about the NHL and NBA

CNN Top Stories - Sat, 06/01/2019 - 04:07
Another championship may be in the cards for Boston this weekend.
Categories: Breaking News

NASA picks three companies to send cargo to the moon

CNN Top Stories - Sat, 06/01/2019 - 03:42
Three small companies that built robotic lunar landers are getting big business from NASA.
Categories: Breaking News

Clinic can continue to provide abortions in Missouri, judge rules

CNN Top Stories - Sat, 06/01/2019 - 02:30
Abortion services can continue for now in Missouri after a judge ruled that its license would not expire at the end of the day Friday. The state had refused to renew Planned Parenthood's license to continue providing the procedure.
Categories: Breaking News

Cardi B: 'I do whatever ... I want with my body'

CNN Top Stories - Sat, 06/01/2019 - 02:26
Cardi B. is sounding off about her recent plastic surgery.
Categories: Breaking News

Why Mexico is key to the US auto industry

CNN Top Stories - Sat, 06/01/2019 - 02:25
Building a car in the United States, and buying one, could get a lot more expensive.
Categories: Breaking News

Saudi Arabia united the Arab world against Iran. That means conflict could be one step closer

CNN Top Stories - Sat, 06/01/2019 - 02:12
King Salman of Saudi Arabia has pulled off in Mecca what many had thought unlikely -- getting 20 or so disparate Arab nations to unite in a common position against Iran.
Categories: Breaking News

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