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Yearly Archives: 2020

S&P affirms Philippines’ rating

S&P Global Ratings maintained its BBB+ long-term credit rating for the Philippines with a stable outlook, as it expects the economy to bounce back...

Quarantines relaxed nationwide on June 1

THE country will be transitioning into more relaxed lockdowns starting June 1, with fewer restrictions on people’s movement and more outdoor activities and physical reporting to work allowed.
Juan Miguel F. Zubiri

Senate to focus on Bayanihan law extension, no time to pass other priority measures

SENATE MAJORITY Leader Juan Miguel F. Zubiri said that the Senate may not be able to pass all priority measures such as the economic stimulus act and the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) before Congress adjourns next week due to the limited number of session days left, adding that the upper chamber will be prioritizing the bill extending the validity of the Bayanihan to Heal As One Law instead.

DoH to change how it reports COVID-19 cases

THE Department of Health (DoH) said that it will be changing the way coronavirus disease 2019 (COVID-19) cases are reported to the public, saying that it will identify those that are “fresh” and those that came from “delayed reporting.”
DoLE

DoLE promises all stranded OFWs will be brought home before Duterte’s deadline

THE Department of Labor and Employment (DoLE) said it will be able to make sure all stranded overseas Filipino workers (OFWs) make it home before the deadline President Rodrigo R. Duterte set, with 19,000 out of 24,000 already brought home.


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1,000 stranded indigenious people brought home

ALMOST 1,000 indigenious people (IP) who had been stranded in Metro Manila when the lockdown to control the spread of the coronavirus disease 2019 (COVID-19) was imposed, have been brought back to their homes by the government.

Country should not rely on private sector for COVID-19 tests — Garin

THE Philippines should not rely on the private sector to cover mass testing and vaccines for the coronavirus disease 2019 (COVID-19), House Senior Deputy Minority Leader and former Health Secretary Janette Garin said.

22,522 inmates released through video conference hearings — Supreme Court

THE Supreme Court said that 22,522 inmates have been released through videoconferencing hearings.

House OKs bill to spur economic growth in Eastern Visayas

ON THURSDAY evening, the House of Representatives approved on second reading House Bill 6869 which seeks to create the Eastern Visayas Development Authority (EVDA) which is meant to spearhead investment promotion and implement economic development strategies in Region 8.

Courts in full operation starting June 1

ALL judicial courts will be in “full operation” starting June 1, following the easing of lockdown restrictions in most parts of the country.
Sanofi

Sanofi says will have COVID-19 vaccine in 18-24 months

PHARMACEUTICAL firm Sanofi Pasteur, Inc. said that developing a vaccine against the coronavirus disease 2019 (COVID-19) could take 18 to 24 months.

COVID-19 test machine distributor denies allegations of overpricing, monopoly

OMNIBUS Bio-Medical Systems Inc. has denied allegations that it has hoarded and sold overpriced coronavirus disease 2019 (COVID-19) testing equipment and kits to the national government.

Pag-asa seaport set to open in June

THE seaport project in the heavily contested Pag-asa Island is slated to commence operations on June 12, the Department of Transportation reported late on Thursday.

Duterte calls for staggered tuition payments

PRESIDENT Rodrigo R. Duterte is calling on schools to accept staggered tuition payments to address difficulties of parents in paying for their child’s education amid the coronavirus disease 2019 (COVID-19) crisis.

SWS says: more Pinoys used wages for daily expenses than cash aid

A NEW survey by the Social Weather Stations (SWS) showed that when it came to paying for their daily needs, nearly half of those surveyed spent their wages rather than cash aid.

PHL to open up economy as lockdown eases

THE Philippines will allow nearly all economic sectors to resume operations, as the country relaxes one of the world’s longest and strictest lockdown restrictions on June 1.

PHL gets $1.25-billion worth of loans for coronavirus response

THE Philippine government secured two loans worth a total of $1.25 billion (P63.28 billion) from the Asian Infrastructure Investment Bank (AIIB) and World Bank to help in its fight against the coronavirus disease 2019 (COVID-19) pandemic.
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PEZA approves P13.1B in new investments amid lockdown

THE Philippine Economic Zone Authority (PEZA) said it approved P13.1 billion worth of committed investments for the months of April and May, which are expected to generate nearly 20,000 new jobs.

House approves FIST Act on second reading

THE House of Representatives on Thursday evening approved on second reading a bill providing for the transfer of banks’ bad loans to asset management companies (AMCs), as a spike in non-performing loans is expected during the coronavirus crisis.

Instituto Cervantes screens anti-death penalty film online this weekend

INSTITUTO CERVANTES de Manila will be screening online for free the Spanish classic film El Verdugo (The Executioner), Luis Garcia Berlanga’s 1963 black comedy about the death penalty, on May 30 and 31.

May inflation likely settled at 1.9% to 2.7%: BSP

INFLATION in May likely fell within 1.9% to 2.7%, with upside risks mainly coming from the increase in food prices, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Friday.

IBPAP seeks transition period for CREATE incentives system

THE OUTSOURCING industry is requesting the government for a longer transition time before changing the current incentives system, while supporting the move to cut corporate income tax to 25% from 30% in July.

Unused tax credit certificates to be converted to cash after a year

TAX CREDIT certificates (TCCs) that remain unused for more than one year will be converted into cash, the Bureau of Internal Revenue (BIR).
JICA PNR

PNR sees 80% decline in monthly revenues on transport restrictions

THE Philippine National Railways (PNR) is expecting an 80% decline in monthly revenues due to government restrictions as the country gradually eases lockdown measures.

RCEF seed deliveries reach one million bags

INBRED RICE seed delivery under the Rice Competitiveness Enhancement Fund (RCEF) has reached more than one million bags, the Philippine Rice Research Institute (PhilRice) said on Friday.
LRT

Japan’s Sumitomo acquires stake in LRT-1 operator

METRO PACIFIC Investments Corp. (MPIC) has sold part of its stake in the operator of the Light Rail Transit Line 1 (LRT-1) to Japanese company Sumitomo Corp.
puregold

Puregold Q1 profit gets boost from panic-buying

EARNINGS of Puregold Price Club, Inc. jumped 17% in the first quarter, as consumers began panic-buying before the lockdown was implemented in mid-March.

Vista Land posts 10% income growth in 2019

VISTA LAND & Lifescapes, Inc. (VLL) reported a 10% increase in profits last year, as it saw higher demand for its commercial assets.
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City of Dreams operator’s profit falls as tourist arrivals decline 31% profit decline in...

EARNINGS of Belle Corp., the listed operator of City of Dreams Manila, dropped by 31% in the first quarter as tourist arrivals fell due to the Taal eruption and the onset of the coronavirus disease 2019 (COVID-19) pandemic.
Megawide logo

Megawide Q1 earnings up on robust construction, landport businesses

EARNINGS of Megawide Construction Corp. climbed 3% in the first quarter as its construction and landport segments generated strong revenues.

Liquidity growth picks up in March

MONEY SUPPLY growth in March accelerated following the central bank’s monetary easing to help mitigate the impact of the coronavirus pandemic on the economy and the financial system..

Peso strengthens on easing of lockdown measures

THE PESO strengthened against the greenback on Friday after the loosening of lockdown measures in the country to gradually reopen the economy.

PSEi breaches 5,800 on relaxation of Metro Manila lockdown

THE MAIN INDEX broke into the 5,800 level at the end of Friday’s session as bulls flocked to the market on optimism over the easing of the lockdown in Metro Manila starting next week.

Maskne: How to avoid acne, breakouts when wearing face masks

By Michaela Tangan Features Writer, The Philippine STAR Thanks, or no thanks to the coronavirus disease 2019 (COVID-19) pandemic, protective face masks are now part of...

COVID-19 and our plastic use

By Aliyya Sawadjaan Features Writer, The Philippine STAR Today, plastics play a key role in the response against the coronavirus disease 2019 (COVID-19). The material turned...

Lockdown in Metro Manila to ease on June 1

PRESIDENT Rodrigo R. Duterte on Thursday evening ordered the further easing of the lockdown in Metro Manila and nearby cities starting June 1, as the government tries to restart an economy that the coronavirus pandemic brought to a near standstill.

P846-B additional stimulus needed

THE government estimates that around P846 billion in additional stimulus is needed to revive the economy, which will see around P2.2 trillion in losses so far this year due to the pandemic.

$660M in ‘hot money’ exits PHL in April

By Luz Wendy T. Noble, Reporter AROUND $660 million in foreign capital left the Philippines in April as investors pulled out due to worries over...

Bigger budget for infrastructure, health sectors eyed

THE government is planning to allocate more funds for infrastructure projects and the healthcare sector under next year’s budget, as the country adapts to a “new normal.”

Task force backs easing one of world’s toughest lockdowns

MANILA — The Philippines’ coronavirus task force has recommended to President Rodrigo R. Duterte to ease one of the toughest and longest lockdowns in the world for residents in the capital Manila, who have endured nearly 11 weeks of restrictions on activity.

Jollibee posts P1.8-B loss, blames lockdown

JOLLIBEE FOODS Corp. (JFC) swung to a net loss in the first quarter as the coronavirus disease 2019 (COVID-19) pandemic led to temporary closure of its stores worldwide.

San Miguel readies issuance of $1-billion perpetual securities

SAN MIGUEL Corp. (SMC) is planning to issue perpetual securities worth up to $1 billion or about P50.72 billion, which it will not offer to the public.

Philippine Wrestling Revolution offers first pay-per-view fight

BEING stuck at home under quarantine doesn’t have to be boring — not when there is access to some testosterone-filled pro wrestling. Late last year, World Wrestling Entertainment (WWE) inaugural Cruiserweight Champion TJ Perkins went head to head with Jake de Leon of the Philippine Wrestling Revolution (PWR) in an event called PWR Special: Homecoming. Now, one can watch the fight in the comfort of home, when Homecoming becomes available on pay-per-view on May 31.

2GO net loss shrinks as it reduces expenses

2GO Group, Inc. cut its net loss attributable to equity holders by 70.5% in the first quarter after it managed to reduce its expenses.

VLF 2020: Mayang Bubot sa Tag-araw

NORMAN Boquiren’s Mayang Bubot sa Tag-araw — one of the main plays in this year’s Virgin Labfest (VLF) theater festival — tackles the problems encountered in an Ayta community, focusing on how the Indigenous People’s community values ancestral land and livelihood.