Author: adler

THE Securities and Exchange Commission (SEC) was able to remove 33 online lending platforms or OLPs from Google Play Store in its campaign against illegal lending, it said on Thursday.
“These OLPs have not been reported to the SEC, in violation of SEC Memorandum Circular No. 19, Series of 2019 or the Disclosure Requirements on Advertisements of Financing Companies and Lending Companies and Reporting of OLPs,” the SEC said in a press release.
The regulator’s action against the OLP applications was with the assistance of Google Philippines.
Under the SEC circular, financing and lending companies are required to register their OLPs as business names and include their corporate names, SEC registration numbers and certificate of authority numbers in their advertisements.
A memorandum circular posted in November 2021 states that only OLPs registered as of Nov. 21, 2021 may operate and be used for online lending, subject to strict monitoring.
In line with the directive, Google adopted a policy in May 2022 that requires developers of OLPs in the Philippines to submit a personal loan application declaration and other necessary documentation before they are allowed to publish on the platform.
The policy allows the platform to remove OLPs from Google Play Store. It also requires OLPs to promptly remove their applications if their registration is no longer valid.
“The SEC will continue its efforts to protect existing and prospective borrowers from abusive, unethical, and illegal lenders,” the regulator said.
To date, the commission has revoked 2,084 certificates of registration of lending and financing companies that failed to secure the required certificate of authority.
The SEC has likewise canceled the certificates of authority of 39 financing and lending companies for violating applicable rules and regulations.
“The SEC is looking at engaging with other social media platforms for the adoption of a similar gatekeeping policy imposed by Google Philippines in the interest of customer protection,” the commission said. — Justine Irish D. Tabile

A UNIT of Metro Pacific Investments Corp. (MPIC) has partnered with CIMIC Group’s Leighton Asia’s Philippines branch for the Candaba third viaduct project, which it projected to cost P6.1 billion.
The five-kilometer project is under NLEX Corp., a subsidiary of the toll road arm of MPIC, Metro Pacific Tollways Corp.
NLEX Corp. President and General Manager Luigi L. Bautista said in a press release on Thursday that the company chose to award the project to CIMIC Group’s construction business focused in Asia.
“We trust their knowledge and expertise when it comes to building safe and high-quality roads and bridges, having completed a lot of our major projects, with the NLEX Harbor Link as the most recent one,” said Mr. Bautista.
The project located between Pulilan, Bulacan and Apalit, Pampanga will be serving Metro Manila, and Central and North Luzon.
The third viaduct will be built in the middle of the two existing viaducts, with construction works to start within the first quarter of 2023 until 2024.
NLEX Corp. said the Candaba third viaduct project “will make travel safer and easier as it expands the road from three lanes without shoulder to three lanes with inner and outer shoulder in each direction.”
Before the project, the tollway company upgraded the bridge’s link slabs and columns and added lay-bys in both directions of the bridge.
The company is also undertaking a safety upgrade of the southbound portion of the viaduct, which it deemed necessary to ensure the safety of motorists. — Justine Irish D. Tabile

THE Energy Regulatory Commission (ERC) is appealing the decision of the appellate court to consolidate the cases filed by units of SMC Global Power Holdings Corp.
“The OSG (Office of the Solicitor General) as our counsel filed a partial motion for reconsideration on the consolidation, so in a way, we are opposing the consolidation,” ERC Chairperson and Chief Executive Officer Monalisa C. Dimalanta told reporters on the sidelines of an energy forum on Wednesday.
Ms. Dimalanta was referring to the decision of the Court of Appeals (CA) to consolidate the case of San Miguel Energy Corp. (SMEC) with that of South Premiere Power Corp. (SPPC). Both are units of SMC Global Power.
“There are many requirements for consolidation but the OSG argued that the two cases are different, the legal issue of the two cases, so it’s not prime for consolidation,” Ms. Dimalanta said.
Ms. Dimalanta said that while both cases cited a “change in circumstance,” SPPC specifically cited the change in law due to the gas restriction notice on Malampaya, while SMEC cited economic conditions due to the supply chain disruption of the Russian-Ukraine war.
SPPC is the administrator of the natural gas-fired power plant in Ilijan, Batangas, while SMEC is the administrator of the coal power plant in Sual, Pangasinan.
In January, the 13th Division of the CA issued a writ of preliminary injunction (WPI), which indefinitely suspended the power supply agreement (PSA) of SPPC and Manila Electric Co. (Meralco).
However, the CA denied the issuance of a hold order sought by SMEC but granted its motion to consolidate the case with SPPC, which is currently pending before the 13th Division of the appellate court.
“The OSG is still studying the legal implications of the decision. As of now, we’re tied with the injunction. We need to respect that,” Ms. Dimalanta said, adding that the commission will just wait for what its counsel with say.
The decision of the ERC to oppose the CA ruling stemmed from SMC Global Power’s decision to ask the CA to reverse the decision of the ERC in September last year.
To recall, SMC Global Power and Meralco jointly filed a petition for a rate increase in May last year, which the ERC denied in September.
The ERC decision prompted SMC Global Power to elevate the cases to the appellate court in November last year.
In August last year, SMC Global Power said its units SPPC and SMEC had incurred a combined loss of P15 billion. The rate increase was meant to recover part or P5 billion of the units’ losses.
The company cited a change in circumstance when surging fuel costs breached the price range contemplated during the execution of the contracts with Meralco. However, the ERC denied the petition, saying this had no basis as the PSA is a fixed-rate contract. — Ashley Erika O. Jose

LOS ANGELES — After a life-threatening bout of COVID-19, five-time Grammy winner Shania Twain hopes to bring joy to the world with her new album Queen of Me.
Like everyone else, the Canadian singer and songwriter was cooped up during the pandemic. But instead of navel gazing, Ms. Twain, 57, said she put herself in a playful frame of mind.
Now, she wants everyone to rejoice with her as the pandemic subsides.
“There’s so many things to celebrate right now and we are still in celebration mode. That’s the mode I’m in and I sense it with the fans as well,” she said.
As an asthmatic, Ms. Twain’s battle with COVID was bad and developed into pneumonia, she said in an interview with Apple Music 1. “Every day my lungs were filling up with inflammation. Within 12 days, I was pretty much dying.”
After recovering, she drew inspiration by recording her new album. Released on Feb. 3, it already has two singles — the line-dancing upbeat country number “Giddy Up!” and the aspirational and catchy “Waking Up Dreaming.”
“When I’m getting into the songwriting mode, I’m just dreaming. I’m playing with my imagination, I’m letting it go, I’m in dream mode,” she said. “It’s my dreams that set my goals.”
Twain, who has sold more than 85 million albums, began singing when she was three years old, and by eight played at bars to help her family pay the bills.
The country music phenomenon is ready to tour the world with her new album, starting out in Spokane, Washington, in April and finishing in Vancouver, British Columbia, in mid-November. — Reuters

A SOUTH Korean company has offered to rehabilitate the nuclear power plant in Bataan, an official of the Philippine Nuclear Research Institute (PNRI) said on Thursday.
Carlo A. Arcilla, PNRI director, told reporters on the sidelines of an energy forum that Korea Hydro & Nuclear Power Co., Ltd. (KHNP) made the offer to revive the Bataan Nuclear Power Plant (BNPP) within five years for a cost of $1.19 billion.
“The one that is really interested in the BNPP is Korea because Korea has an exact model and they said that they can revive it in five years,” he said, referring to the Kori Nuclear Power Plant in South Korea.
The 621-megawatt BNPP was constructed as a response to the 1973 oil crisis. It was completed in 1984 but was never commissioned due to safety concerns.
Mr. Arcilla said KHNP is interested to revive the Bataan plant because almost everything in it is complete.
Last year, Sebin Cheon, senior manager at KHNP, said the company supports the rehabilitation of the BNPP while reinforcing its safety requirements.
The Department of Energy earlier estimated a timeline of 10 years before nuclear power can be integrated into the country’s energy mix.
On Wednesday, an Energy official said the Chinese government had expressed its intent to work with the Philippines in possibly integrating nuclear power among local energy sources.
President Ferdinand R. Marcos, Jr. had expressed interest in re-examining the feasibility of adding nuclear power as a solution to the country’s energy supply problems. — Ashley Erika O. Jose

THE COST of store-bought pizza and quiche in the European Union (EU) grew in December by 16% from a year earlier, the bloc’s statistics agency Eurostat said on Wednesday.
As food lovers in the US prepared to celebrate National Pizza Day on Feb. 9, EU consumers will have to search deeper in their pockets to enjoy a slice of Italy’s most renowned fast food.
However, the pizza inflation rate varied wildly across the EU, with Hungary topping the Eurostat chart with a 46% yearly price increase, followed by Lithuania and Bulgaria on 39% and 37% respectively.
The smallest price hikes in pizza and quiche, lumped together in Eurostat’s novel indicator, were recorded in Luxembourg (+7%), Italy (+10%), and France (+13%).
Overall inflation in the euro zone increased in December by +9.2% year-on-year, with a 13.8% hike in food, alcohol & tobacco products, the agency reported last month.
Eurostat categorizes “pizza and quiche products” as including store-bought varieties of “flour based products prepared with meat, fish, seafood, cheese, vegetables or fruit.” — Reuters

A REGIONAL OFFICE of the Social Welfare department said it has partnered with Knauf Gypsum Philippines, Inc. to train beneficiaries of the government’s cash transfer program in construction work.
Mark Dewey Sergio, managing director of Knauf Gypsum Philippines, said that the partnership with the Department of Social Welfare and Development (DSWD) Field Office IV-A Calabarzon targets beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps) cash transfer program.
The program will feature training in Knauf Academy, the company’s gypsum board installation training center for construction workers. Mr. Sergio said the academy will select from both beginners and experienced construction workers.
“We will look at those who have less or no skills to assess their subsistence and survival. We will slowly build their skills,” DSWD IV-A project development officer Nellibeth V. Mercado said.
Jenny Ronna Dimaculangan, program development officer at DSWD IV-A, said that the agency will recruit beneficiaries who are 18 years old and above from barangays near its training centers.
“We will find out who is easier to train… and then refer them for employment,” Ms. Dimaculangan said.
Barry R. Chua, DSWD IV-A regional director, said the project will help enhance construction workers’ skills and provide livelihood opportunities.
 Knauf manufactures materials used in ceilings, jointing, and walls, as well as finishing compounds. It also makes acoustic panels, ceiling tiles, and acoustic suspension systems. The company operates in Asia, Europe, the US, Russia, Africa, Australia, and South America.
Republic Act 11310, or the 4Ps law, provides conditional cash grants to the poorest households to improve their nutrition, health, as well as education for children up to 18 years old. There are 340,000 registered beneficiaries in Calabarzon. — Beatriz Marie D. Cruz

LONDON — Britain placed another hurdle in the way of Microsoft’s $69-billion mega purchase of Call of Duty maker Activision Blizzard, saying it could harm gamers by weakening the rivalry between Xbox and Sony’s PlayStation.
The Competition and Markets Authority (CMA) said on Wednesday the biggest-ever deal in gaming, announced a year ago, could result in higher prices, fewer choices, and less innovation for millions of players, as well as stifling competition in cloud gaming.
It said Activision’s flagship Call of Duty franchise was important in driving competition between consoles, and Microsoft could benefit by making the game exclusive to Xbox, or only available on PlayStation under materially worse conditions.
The deal is being scrutinized in the United States and Europe as well as in Britain, where the CMA showed its willingness to take-on big tech in 2021 when it blocked Facebook-owner Meta’s acquisition of Giphy.
In December, the United States moved to block the deal, citing Microsoft’s record of hoarding valuable gaming content. The Federal Trade Commission has set a hearing before a judge for August this year.
The EU is also preparing a statement of objections about the deal, sources told Reuters last month.
Alex Haffner, competition partner at law firm Fladgate, said the CMA’s comments suggested that structural commitments, such as asset sales, might be the only way to allay its concerns.
“This would obviously call into question the strategic rationale for the deal,” Mr. Haffner said. “Microsoft faces a stiff challenge to get the global regulatory green light.”
Microsoft has pledged to keep Call of Duty on PlayStation. The popularity of the first-person shooter franchise is undimmed nearly two decades after launch, with the latest instalment achieving $1 billion sales in its first 10 days in October.
But the US tech giant has said the deal is about more than Call of Duty.
It has said buying the company that also makes Overwatch and Candy Crush would charge its growth in mobile, PC, and cloud gaming, as well as consoles, helping it compete with the likes of Tencent as well as Sony.
Sony, however, has led opposition to the deal, saying last year that it was “bad for competition, bad for the gaming industry and bad for gamers themselves.”
CROSSFIRE
The CMA investigation’s chair Martin Coleman said his job was to make sure that British gamers were not caught in the crossfire of global deals that could damage competition and result in higher prices, fewer choices, or less innovation.
“We have provisionally found that this may be the case here,” he said.
Shares in Activision were down 3% in early trading in New York. Microsoft, which announced an AI-driven revamp of its search capabilities on Tuesday, was up 2.4%.
Microsoft said it would address the CMA’s concerns.
“Our commitment to grant long-term 100% equal access to Call of Duty to Sony, Nintendo, Steam and others preserves the deal’s benefits to gamers and developers and increases competition in the market,” its Deputy General Counsel Rima Alaily said.
Activision Blizzard said the findings were provisional and it hoped to help the regulator better understand the industry before it issues a final report by April 26. — Reuters

LOCAL governments can collect slaughter fees as part of their regulatory powers, the Court of Tax Appeals (CTA) ruled, as it upheld the fee imposed on San Miguel Foods, Inc. (SMFI) by the Davao City Treasurer’s Office in 2016.
In a 19-page decision dated Jan. 31 and made public on Feb. 7, the CTA full court said the local government unit had the jurisdiction and authority to collect the fees worth P625,023.30 for slaughtering birds and poultry for food products in 2016.
“Clearly, the regulation of the slaughter of live bird/poultry, which is the activity undertaken in SMFI’s dressing plants, is covered within the standards of health and safety for the exercise of the city’s regulatory powers,” it said.
“All told the permit fee to slaughter, which petitioner SMFI paid under protest, is in the nature of a license fee and not a tax,” it added.
It noted that the fees were not local taxes but were used to regulate a specific public interest business, including slaughtering livestock and poultry.
The Davao City revenue code requires private establishments to secure permits from the city veterinarian before they can slaughter animals for their food commodities.
The firm would then have to pay a fee to the city treasurer for the said permits.
Last year, the CTA affirmed a similar permit fee imposed by the Davao treasurer on SMFI worth P338,731.90.
SMFI, a subsidiary of a food conglomerate based in Pasig City, argued that the tax tribunal had jurisdiction over the regulatory fees and local taxes.
The tax court disagreed, saying it did not have jurisdiction over disputes involving the imposition of fees by local government units.
“It bears stressing that the police power delegated to the local government unit under the local government code subsumes the promotion of health and safety within their territory,” it said. — John Victor D. Ordoñez

GOVERNMENT Service Insurance System’s (GSIS) mobile app recorded 506,040 registered users and an average of 25,000 users after a year of being available to the public.
The GSIS Touch mobile app also recorded 372,338 loan applications since its release, app developer OutSystems said in a statement on Thursday.
“Some of the most pressing issues that government agencies face today include the speed it takes to deliver a product or seamless service to the market. As a leading high-performance low-code platform, OutSystems hopes to improve business efficiency and lower operational costs as we continue to extend our services and assist more Philippine government agencies in their digital transformation efforts for the coming years,” OutSystems Asia-Pacific Vice-President Mark Weaser said.
GSIS leveraged on OutSystems’ platform to develop the mobile app, allowing over 2.5 million members and pensioners to apply for loans and tap services online, the application developer said.
The GSIS app was developed in 2020 in response to the restrictions and safety concerns caused by the coronavirus disease 2019 (COVID-19) pandemic, OutSystems said.
“Currently, GSIS is working on a payment portal integration for loan payments with one of its partner banks. The GSIS Mobile Touch App will also be further improved by adding a facial recognition feature, payment portal or integration with more financial institutions like banks for online payment of loans; integration with the Philippine ID System for online, real-time Annual Pensioner Information Revalidation by pensioners using facial image verification; and GSIS Touch as portal to the GSIS eWallet,” it added.
“As a government agency that is at the forefront of innovation, we are proud to have been able to launch the Touch Mobile App that is accessible by hundreds and thousands of our members. We look forward to seeing the app become the next major communication and transaction channel of GSIS, allowing more Filipinos to have seamless access to our services without traveling to the GSIS branches or agency offices in the country,” GSIS Information Technology and Service Group Senior Vice-President Juan P. Evangelista said. — AMCS