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Metrobank net income up 27%
BusinessWorld - 2020-02-21
This was driven by an increase in overall credit demand, led by the seven percent rise in commercial borrowers and the sustained growth in its consumer lending after its credit card business recorded a 23% expansion, it said. Metrobank alone saw its overall deposits increase by 13.2% to P1.5 trillion from P1.325 trillion in 2018, driven by the ...

Apple may soon let you choose Google Maps and Gmail as your default iPhone apps
CNN Philippines - 2020-02-21
(CNN)-- Apple may be about to give its customers a lot more control over their iPhones and iPads. The company is said to be considering allowing people to choose their default iOS apps for a broad number of tasks, including maps, web browsing and email, according to a Bloomberg report. This means you could potentially replace your iPhone's ...

US Fed officials cautiously optimistic on economy despite new risks -- minutes
BusinessWorld - 2020-02-21
Elsewhere in the minutes, Fed policy makers discussed how to handle its growing balance sheet. The Fed has been buying $60 billion monthly of US Treasury bills since October to increase the level of reserves in the banking system in response to a liquidity crunch. Mr. Powell has said the Fed would aim to begin scaling back that amount sometime ...

Finally the Baby Yoda toys we've been waiting for are here
CNN Philippines - 2020-02-20
(CNN) -- Disney finally lifted the veil on a truck load of new Baby Yoda merchandise Thursday morning, nearly four months after the character debuted on the Disney+ Star Wars series "The Mandalorian." Baby Yoda shocked many Star Wars fans in November when the Mandalorian character, nicknamed Mando, discovered him at the end of episode one of ...

Victoria's Secret is going private. It's only worth $1.1 billion
CNN Philippines - 2020-02-20
(CNN)-- Victoria's Secret, the troubled lingerie brand owned by L Brands, is being sold to a private equity firm in a $525 million deal. Sycamore Partners and L Brands will split control of the brand: The private equity firm is buying a 55% stake, while L Brands is taking control of the remaining 45%, but Victoria's will be spun off into a ...

This app lets you see IoT devices around you, and what data they're taking
CNET - 2020-02-20
A new app launched this week will let you know what internet of things technologies are operating around you -- and what data they are collecting. The Internet of Things Assistant app and its infrastructure, created by Carnegie Mellon researchers, aims to give you more control over the devices tracking your activity and information. With the ...

S&P 500 spins lower in choppy trading as caution returns
Philippine Daily Inquirer - 2020-02-20
NEW YORK -- U.S. stocks spun lower in a dizzying day of trading Thursday as worries about the viral outbreak that started in China knocked the S&P 500 off its record high. The market had started the day off higher following another round of stronger-than-expected reports on the U.S. economy, but it slumped suddenly in the late morning.

Protests greet OKd bill allowing full foreign ownership in telco, transport
Philippine Daily Inquirer - 2020-02-20
The proposed "New Public Service Act" that the House of Representatives passed on second reading on Tuesday is unconstitutional, as it allows foreign-owned companies to fully own transportation and telecommunications facilities in the country, Albay Rep. Edcel Lagman said on Thursday. House Bill No. 78 would be even disadvantageous to ...

Summer is coming, and with it comes power shortage
Philippine Daily Inquirer - 2020-02-20
The government needs a strategy to address a "power shortage looming over the Luzon grid in the coming summer of 2020," according to National Grid Corp. of the Philippines (NGCP). NGCP, in a statement, called on relevant agencies to take a closer look at the shifts in peak demand and strategize for short-term and long-term solutions.

Gold line signed: PH exempts small miners from taxes
Philippine Daily Inquirer - 2020-02-20
Starting next month, the Bureau of Internal Revenue (BIR) will exempt from taxes small miners supplying gold to the Bangko Sentral ng Pilipinas (BSP). "Income derived from the following sale of gold are excluded in the gross income and shall be exempt from income tax, and consequently from withholding taxes: The sale of gold to the BSP by ...

Accor Group expanding network with 15 more hotels in the PHL
BusinessMirror - 2020-02-20
and Joy Nostalg Manila also in the Ortigas business district. "We expect to open the MGallery Admiral Suites Hotel (Manila), Novotel Blue Coral Resort Mactan, and Novotel Manila @Aqua in 2020 ...

Most IT professionals want to replace passwords with something better, but the industry can't agree on what that is
Business Insider - 2020-02-20
New research, tech, and alliances suggest we may finally be making progress in getting rid of passwords.

Sy Sperling, Founder of the Hair Club for Men (and Also a Client), Dies at 78
New York Times - 2020-02-20
Sy Sperling, a businessman who helped bring the hair-loss industry into the mainstream with ubiquitous, self-effacing ads, died on Wednesday at a hospital in Boca Raton, Fla.. He was 78. His death was confirmed by his publicist, Terri Lynn, who said it followed a lengthy illness. Mr. Sperling achieved a kind of cult fame in the 1980s, as a late ...

Pioneer who invented 'cut, copy and paste' for computers dies at 74 - 2020-02-20
Feb. 20 (UPI) --Larry Tesler, a former chief scientist for Apple and the man who invented the concepts for computers to cut, copy and paste, died this week. He was 74. Born in New York City in 1945, Tesler eventually studied computer science at Stanford University before working in the school's artificial intelligence research lab in the late ...

Longer Breastfeeding, Lower Type 2 Risk After Gestational Diabetes
Medscape - 2020-02-20
Among women with a history of gestational diabetes, a longer period of breastfeeding was associated with a lower probability of going on to develop type 2 diabetes, as well as a more favorable glucose metabolic biomarker profile. Women who breastfed for 2 years or longer had a 27% lower risk than that of those who did not breastfeed at all ...

Pegasystems hires new Latam head
ZDNet - 2020-02-20
Software firm Pegasystems has announced Maurício Prado Silva as the new leader of its Latin American operations In his new job at the company, which develops software for customer engagement and digital processes, Silva will focus on boosting the business across the region. "Our initial objective is to grow the customer base, expand our ...

Research has identified 5 areas of improvement for companies that have stalled on their way to the middle market.
Inc - 2020-02-20
More than 2 million U.S. companies are stuck. Having endured the perils of starting up, they seem likely to survive. But they can't drag themselves above $10 million in annual revenue, generally considered the floor of the middle market. If just 10 percent did so, they would create 17 million good jobs, based on calculations derived from Census ...

Microsoft says people don't trust election results -- and it's pitching its own technology as the solution. It just faced its first real-life test.
Business Insider - 2020-02-20
Microsoft's new voting technology was tested for the first time in Wisconsin -- some were confused by it, but there weren't any glitches.

CDC: This season's flu shot nearly 50% effective - 2020-02-20
Feb. 20 (UPI) --Getting the flu shot helped Americans stay healthy this winter season, even though it failed to work against some strains of the virus, preliminary numbers from the U.S. Centers for Disease Control and Prevention suggest. Early effectiveness estimates released by the agency Thursday indicate that the flu vaccine developed for ...

New Mexico Sues Google For Allegedly Spying On Children In Classrooms
Forbes - 2020-02-20
Students work on a math equation using Chromebooks at Milton High School. Topline: The state of New Mexico sued Google on Thursday for allegedly collecting personal data from children through Google-powered laptops and software in classrooms, adding to the complaints and legal actions already taken against the company for violating privacy ...

Uber returns to Colombia less than a month after exit
Reuters - 2020-02-20
BOGOTA (Reuters) - Uber Technologies Inc (UBER.N) resumed transporting passengers in Colombia on Thursday with a new service model that allows users to rent cars with drivers, just 20 days after it exited the Andean country following a ruling by regulators which the company described as arbitrary. The Superintendency of Industry and Commerce ...

Coronavirus outbreak slows, research into drug treatments speeds up - 2020-02-20
Feb. 20 (UPI) --As fast as the novel coronavirus, or COVID-19, outbreaks appears to be spreading, the development of drugs to treat it may actually be keeping pace, officials with the World Health Organization said Thursday. The progress in research and development, based on two ongoing clinical trials in China, comes as Iran on Wednesday ...

Year of exciting change
BusinessMirror - 2020-02-20
We are capitalizing on our superior fixed and mobile networks and stepping up our efforts to make life better for our customers. We are rolling out 5G step by step and pursuing our efforts to make our business and services more and more digital," he said. Dito Chief Administrative Officer Adel A. Tamano noted that his group will have its ...

Twitch to top 40 million U.S. viewers next year, forecast says
TechCrunch - 2020-02-20
Twitch, the Amazon-owned streaming service for gamers, is poised to surpass 40 million monthly active viewers in the U.S. as of next year, according to a new forecast from eMarketer out on Thursday. By 2023, it will reach 47 million viewers. Currently, the analyst firm estimates Twitch has 37.5 million viewers in the U.S. who tune in to watch ...

CACI starts journey to next 100 years with laying of time capsule
BusinessMirror - 2020-02-20
Lozada Jr. (left), assisted in the symbolic event. Other officers include Jose Manuel L. Mapa (second from right), vice president /general manager-RHI Agri-business Development Corp.; Jose B. Villanueva III (second from left), VP/CMO for Central Azucarera Don Pedro Inc. and San Carlos Bioenergy Inc.; Daisy Perpetua A. Bo (fourth from left ...

ABS-CBN employees to stage protest
BusinessMirror - 2020-02-20
TODAY, at 6 pm, thousands of ABS-CBN employees (myself, included) and its supporters are expected to converge on the grounds of the company as a sign of protest against the delay of the franchise renewal hearings and the quo warranto petition filed by Solicitor Gen. Jose Calida to the Supreme Court of the Philippines. Everyone is welcome to ...

DM Wenceslao hikesprofit by 24% to P2.4 billion - 2020-02-20
MANILA, Philippines -- D.M. Wenceslao & Associates Inc. reported a net income of P2.37 billion last year, up 24 percent on strong revenues. Operating profit expanded 65 percent to P2.27 billion as revenues grew 63 percent year on year to P3.51 billion due to strong sales of land assets and condominium units. Delfin Wenceslao, DMW chief ...

DA eyes modifying culling protocol over ASF spread - 2020-02-20
MANILA, Philippines -- The Department of Agriculture (DA) is looking at modifying its culling protocol amid the continuous spread of African swine fever (ASF) in the country. Agriculture Secretary William Dar said the DA, in partnership with swine industry players and veterinary groups, is considering modifying the prevailing 1-7-10 protocol ...

2 kids slain in grenade blast - 2020-02-20
ZAMBOANGA CITY, Philippines - Two children were killed when a grenade they were allegedly playing with went off in Zamboanga del Norte yesterday morning. The incident occurred at around 9:30 a.m. at the house of Nona Pasculado in Barangay Sicayab, Dipolog City, according to Maj. Helen Galvez, spokesperson for the Zamboanga region police.

Policewoman hacked dead - 2020-02-20
ZAMBOANGA CITY, Philippines - A policewoman was killed while her cousin was wounded after they were allegedly hacked by their uncle in this city on Wednesday night. Senior M/Sgt. Marjorie Mauricio, 45, was declared dead on arrival at the Labuan Public Hospital, according to Capt. Edwin Duco, spokesman for the Zamboanga City police. Mauricio ...

Hot money flows out of Philippines for 3rd straight month in January - 2020-02-20
MANILA, Philippines -- For the third straight month, more speculative funds exited the Philippines as net outflow amounted to $486.1 million in January, reversing the $762.82 million inflow recorded in the same month in 2019. The Bangko Sentral ng Pilipinas (BSP) traced the net outflow of foreign portfolio investments last month to the ...

Share prices sustain upward momentum - 2020-02-20
MANILA, Philippines -- The local stock market managed to sustain its upward momentum yesterday although gains were tempered by some profit taking. Traders said strong corporate earnings, especially from banks and corporates, encouraged investors to go back to the market. The benchmark Philippine Stock Exchange index (PSEi), finished at 7,413 ...

AyalaLand Logistics posts 15% rise in income
BusinessWorld - 2020-02-20
Rosa and the 135-hectare Cavite Technopark in Naic also helped in boosting revenues. ALLHC said once fully developed, these two will generate a total of 120,000 jobs. ALLHC was previously Prime Orion Philippines, Inc. before it rebranded last year, when it said it wanted to pivot to real estate logistics and industrial estate business.

NGCP warns of looming power shortage - 2020-02-20
MANILA, Philippines -- The National Grid Corp. of the Philippines (NGCP) is urging government agencies to address the looming power shortage in Luzon in the summer months. In a statement, NGCP said thin electricity supply is projected between April and June, even with an expected incoming 700 megawatt (MW) capacity from new power plants.

MPIC invests P250 million for majority stake in Los Baños hospital - 2020-02-20
MANILA, Philippines -- Metro Pacific Investments Corp. (MPIC), the listed tollways and infrastructure conglomerate of tycoon of Manuel V. Pangilinan, is expanding its hospital portfolio. Metro Pacific Hospital Holdings Inc. (MPHHI), the hospital arm of MPIC, is acquiring a 51 percent stake in Los Baños Doctors Hospital and Medical Center Inc ...

Megawide raises P5B from note issuance; proceeds to retire debt
BusinessWorld - 2020-02-20
MEGAWIDE Construction Corp. signed yesterday a P5-billion corporate note facility which generated fresh funding to pay outstanding debt obligations and finance expansion programs. In a statement to the stock exchange, the diversified infrastructure conglomerate said its offering was 1.5 times oversubscribed, attracting investors from the ...

PEZA says respect labor rights after tie-up with PNP
BusinessWorld - 2020-02-20
Sermonia, has said that JIPCO prevents "radical labor infiltration" of the labor force by communist groups. Ms. Plaza said the aim of JIPCO is to promote ease of doing business and global competitiveness in ecozones by addressing security issues. "A PNP station will be put up in large ecozones so that the police permits and clearances of ...

Robinsons sells stake in Chic Centre
BusinessWorld - 2020-02-20
ROBINSONS Supermarket Corp. has sold its stake in beauty product manufacturer and semi-frozen beverage firm Chic Centre Corp. as part of efforts to rationalize its business. Its parent Robinsons Retail Holdings, Inc. (RRHI) told the stock exchange yesterday about the divestment of its entire shareholdings in Chic Centre Corp. "As Robinsons ...

China cuts benchmark rate as virus shock affects economy
BusinessWorld - 2020-02-20
Some analysts warn of even lower growth closer to the 3% mark, underlining the widespread business disruption caused by the virus. The LPR is a lending reference rate set monthly by 18 banks. The PBoC revamped the mechanism to price LPR in August 2019, loosely pegging it to the medium-term lending facility rate. Julian Evans-Pritchard ...

D.M. Wenceslao posts 24% earnings rise
BusinessWorld - 2020-02-20
Most of the revenues came from its rental business, which climbed 3% to P1.96 billion last year. Revenues from construction contracts were cut 46% to P71.12 million, but was outweighed by a 359% surge in condominium unit sales to P547.65 million. Land sales also soared to P935.85 million from P1.25 million in 2018. Cost of services and sales in ...

New Philippines bank Tonik picks Nice Actimize AML tech
Finextra - 2020-02-20
Nice Actimize, a Nice (Nasdaq: NICE) business and the leader in Autonomous Financial Crime Management ... TONIK, which was recently approved to establish a regulated bank in the Philippines, is a transformative digital bank working to revolutionize the way money works in Southeast Asia. TONIK is one of the first digital-only banks in the ...

Duterte considers teaching criminal law after term
CNN Philippines - 2020-02-20
Metro Manila (CNN Philippines, February 20) -- President Rodrigo Duterte said Thursday he may teach criminal law after his term ends. Duterte on Friday spoke to graduating public safety officers and recalled his days as a trial prosecutor. At the time, he also lectured on criminal law and procedures. He said he would have wanted to share his ...

ABS-CBN is ready to correct shortcomings - CEO
CNN Philippines - 2020-02-20
Metro Manila (CNN Philippines, February 20) -- Media giant ABS-CBN Broadcasting Corporation admitted its shortcomings and vowed to correct them amid a government move to void an expiring franchise and uncertainties over its renewal, the company's chief executive officer said Thursday. "Serbisyo po ang layunin ng ABS-CBN. Ngunit kami po ay ...

Sun Life maturities, claims paid in 2019 total to P4.7 billion
BusinessMirror - 2020-02-20
The announcement came after SLFI credited the increase in its Asia wealth sales of $2.1 billion--"an increase of $185 million or 10 percent"--as "driven by money market sales in the Philippines and growth in the pension business in Hong Kong, largely offset by lower mutual fund sales in India." In its disclosure to the Philippine ...

Magnitude 5.4 earthquake jolts Davao Occidental
CNN Philippines - 2020-02-20
Metro Manila (CNN Philippines, February 20) -- A magnitude 5.4 earthquake struck Davao Occidental Thursday afternoon, the Philippine Institute of Volcanology and Seismology said. The epicenter of the quake that hit at 5:48 p.m. was 35 kilometers southeast of Jose Abad Santos municipality in Davao Occidental. It had a depth of 190 kilometers.

ChartHop grabs $5M seed led by a16z to automate the org chart
TechCrunch - 2020-02-20
ChartHop, a startup that aims to modernize and automate the organizational chart, announced a $5 million seed investment today led by Andreessen Horowitz. A big crowd of other investors also ...

Alleged Manila police order to list Muslim students slammed as deplorable, disgraceful - 2020-02-20
MANILA, Philippines -- An alleged Manila police memorandum for station commanders in the city to submit a list of Muslim high school and college students is deplorable and disgraceful, a member of the Bangsamoro parliament said Thursday night. The Alliance of Concerned Teachers released Thursday an alleged copy of the Manila Police District ...

Duterte to public: Avoid people who are attention seekers like Trillanes
Philippine Daily Inquirer - 2020-02-20
MANILA, Philippines -- "Stay clear" of politicians engaged in grandstanding like former Senator Antonio Trillanes IV. President Rodrigo Duterte said this Thursday as he again lambasted Trillanes, one of his fiercest critics, for supposedly doing nothing for the country and for being ambitious. "Si Trillanes sige daldal hanggang ngayon.

Health dept.: Around 500 Pinoys in cruise ship in Japan to return on Feb. 23
CNN Philippines - 2020-02-20
The government bringing back hundreds of Filipino nationals on board a coronavirus-stricken cruise ship docked in Yokohama, Japan.

Witness: 90% of Immigration Bureau personnel involved in 'pastillas' scheme
CNN Philippines - 2020-02-20
Metro Manila (CNN Philippines, February 20) -- About ninety percent of Bureau of Immigration personnel are involved in the so-called "pastillas" scheme which allows paid special treatment to ...

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