Listed Belle Corp. registered a 31-percent decline in its first-quarter net income to P577 million from P835 million in the same period last year. In a filing on Friday, the real estate company said its consolidated revenues also dropped to P1.42 billion in the three months ending March, down 25 percent from P1.89 billion year-on-year. Belle’s share in the gaming revenues of City of Dreams Manila, which serves as its primary growth driver, slumped by 39 percent to P445 million from P725 million year-on-year. Its real estate operations’ revenues also decreased by 8 percent to P754 million in the quarter from P822 million in the same period last year. Belle shares inched up by 4 centavos or 3.05 percent to close at P1.35 apiece on Friday.
Vista Land will refocus on optimizing its existing portfolio of investment properties, as well as utilize its current land bank of about 3,000 hectares,” Vista Land President and Chief Executive Officer Manuel Paolo Villar said. Vista Land also is taking advantage of its geographic reach,” he added. The Vista Land president said his firm is currently present in 147 cities and municipalities across the country, with over 50 percent of their revenue generated outside Metro Manila. Vista Land looks to focus on the development of “communicities” — integrated urban developments combining lifestyle retail, prime office space, university town, health care, themed-residential developments and leisure components. Vista Land shares decreased by 15 centavos or 4.41 percent to close at P3.25 each on Friday.
Listed San Miguel Corp. saw its first-quarter net income drop by 91 percent to P1.1 billion from P12.8 billion year-on-year due to the coronavirus disease 2019 (Covid-19) pandemic. Another San Miguel unit, the San Miguel Packaging Group, saw its first-quarter performance also impacted by the ECQ. San Miguel primarily attributed this to the deferment of the start of supply agreements and contract extensions. San Miguel explained that Petron’s demand for fuel was low in the period, as mass transport was restricted during the ECQ. San Miguel shares increased by 10 centavos or 0.10 percent to close at P96 apiece on Friday.
The IT and Business Process Association of the Philippines (IBPAP) on Friday expressed its support for the proposed Corporate Recovery and Tax Incentives for Enterprises (Create) Act, but offered some recommendations that it hoped would be included in the measure. A repackaged version of the Corporate Income Tax and Incentives Reform Act (Citira), Create pushes for the reduction of the corporate income tax rate from the current 30 percent to 25 percent by July. “During these uncertain times, it is doubly important for us to improve and highlight our competitiveness, so that we may also leverage off the shifting investment landscape and attract more foreign direct investments to the country,” Untal said. IBPAP is encouraging Congress to convene, deliberate on and pass Create while taking into account certain “requests” from the industry. The IBPAP chief said the Fiscal Incentives Review Board should be allowed to have jurisdiction over very large investments — e.g.
The latest job-loss figures from the US Labor Department bring to 41 million the running total of Americans who have filed for unemployment benefits since the coronavirus shutdowns took hold in mid-March. There were some encouraging signs: The overall number of Americans currently drawing jobless benefits dropped for the first time since the crisis began, from 25 million to 21 million. And first-time applications for unemployment benefits have fallen for eight straight weeks, as states gradually let stores, restaurants and other businesses reopen and the autoindustry starts up factories again. Washington state, for example, reported layoffs of government employees. Washington state said it saw layoffs in insurance, and New York state reported job cuts by information technology companies.
May 29, 2020 16:43 UTC
“Mganasa 75 percent na, pasangawamuna (I’m at 75 percent, barely passing),” Ancajas, 28, told The Manila Times lightheartedly on Thursday night. He is hoping to fly to the United States this June when international flights resume and fight by July. Mahalagapo ‘yansaisangboksingero at pinapalakas ‘din nito ‘yungbalikat (When coach and I don’t have much equepment, I just do push ups. Ancajas’ fight with Rodriguez was postponed twice — in November 2019 and in April this year. “We have to make sure, you know what I mean, that we can get people into the United States.
May 29, 2020 16:43 UTC
The late Bocaue Mayor Eleanor “Joni” Villanueva-Tugna was used to community service when she was in charge of the Jesus is Lord (JIL) Fellowship Ministry’s iCare Ministry at a young age. Joni was really very down-to-earth, no mean bone in her,” JIL member and Bangon Pilipinas volunteer, Andrea Hernandez-Trinidad told the Manila Times. Mayor Joni was relentlessly serving Bocaueños during this lockdown despite her medical condition, which eventually caused her life. She’s more than a public servant to me, she’s my role model. In a Facebook statement, the JIL had called the Bocaue mayor: “An exemplary leader, a pioneer, a trailblazer and woman of vision and action.”
May 29, 2020 16:30 UTC
LUBBOCK, Texas: Former Georgetown guard Mac McClung will play at Texas Tech after Davide Moretti’s departure from the Red Raiders to play professionally at home in Italy. Coach Chris Beard said on Thursday (Friday in Manila) that McClung had officially signed with the Red Raiders. McClung led the Hoyas with 15.7 points a game last season, while also averaging 3.1 rebounds and 2.4 assists. After initially testing the NBA waters, the 6-foot-2 guard said earlier this month that he was going to transfer from Georgetown. McClung is the third transfer from a Division I program to join the Red Raiders this offseason, joining Jamarius Burton from Wichita State and Marcus Santos-Silva from VCU.
May 29, 2020 16:30 UTC
Jokes I got from my friends through the internet have kept my sanity in this time of crisis. The following are the ones I find hilarious:I hope the jokes keep your sanity intact as well. * * *People keep asking me, “Is the coronavirus disease 2019 really that serious?”Listen ye all, the casinos and churches are closed. A few years ago, we took a man with no brains, no heart and no liver, and made him our president. A Mexican contractor quoted $3 million; American, $7 million; and Filipino, $10 million.
AS part of SM Supermalls’ initiative to bring the mall closer to customers and ensure their safety during the quarantine period, SM Megamall introduces three new Mega Services: Mega To-Go, Mega Shopper and Mega Pick-up. Mega To-Go is mall to home delivery service powered by SpeedFood and Fastrack. Just call to order from a favorite restaurant, and Mega To-Go will deliver the items straight to one’s doorstep. Book with a personal shopper by chatting through SM Megamall Facebook Messenger to automatically receive an order form. Download the MyKuya app and click on the SM Megamall icon to book a Mega Shopper.
Citizens may be sovereign, but it is the law, crafted by their elected representatives, that rules supreme. By the same limits imposed by the Constitution on the courts, with consent by those victimized, President Duterte ended up being above the law. And the Constitution has vested on Congress the sole power to remove a president through the process of impeachment. Unfortunately, an independent Congress appears to have become a rarity in our political system and culture. A Congress like this can never be relied upon to become an effective check on the powers of the president.
SEATTLE: One in 10 diabetics with coronavirus dies within seven days of hospital admission, according to a study of more than 1,300 patients published Friday in the journal Diabetologia. “The presence of diabetic complications and increased age increase the risk of death,” the researchers said in a statement. “Increased BMI” — body mass index, a ratio of height to weight — “is associated with both increased risk of needing mechanical ventilation and with increased risk of death,” they said. Worse blood sugar control in and of itself, however, did not seem to impact a patient’s outcome. Patients over 75 years old were 14 times more likely to die than those 55 or younger.
It is not a task that families can simply leave to the government, but one that requires the active cooperation of all concerned. Apart from developing the instructional materials and methods as quickly as possible and tapping any expertise necessary to help that effort, the main job of the Education department will be to apply the effort flexibly. For parents and guardians of students, the new education format will require a great deal more personal engagement than many are accustomed to. Face-to-face interaction between teachers and students is a critical part of the learning process, but under the “new normal” that will be strictly limited if not altogether impossible. That being the case, the people at home have to play that “personal interface” role for students.
A deluge of online misinformation and hoaxes during the coronavirus crisis is stoking fear and confusion across Asia, where violators of lockdown rules can face jail and hefty fines in some countries. In April, a hoax was shared on Facebook in the Philippines post its lockdown suggesting a motorcyclist had been shot dead for ignoring a virus checkpoint. In fact, the footage — which was viewed tens of thousands of times in multiple posts — was of a police training drill. Thai Facebook users — who viewed the video hundreds of thousands of times — shared it with comments expressing worry there would be similar scenes in Thailand. The misinformation quickly spread on Facebook, Twitter and messaging app Line, and Thai police were forced to refute the claim in a press conference.
MINNEAPOLIS: From the death of a black man in Minneapolis to a racist incident in Central Park, camera phones are increasingly being used as a weapon against racism even when justice does not always follow. It was a member of the public who filmed George Floyd grasping for breath as a white Minneapolis policeman pressed his knee on Floyd’s neck for at least five minutes on Monday (Tuesday in Manila). Four police officers were fired from their jobs, but remain free and the city has witnessed two nights of angry protests. In February, AhmaudArbery — also African-American — was shot and killed by two white residents while jogging in their neighborhood in Georgia. “What happened to George Floyd, AhmaudArbery [and] Christian Cooper has gone on for generations to Black Americans.