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Daily Archives: March 12, 2020 | 10:22 pm

congress bicam

P108-B stimulus package bill filed in House; P50B for businesses

A HOUSE BILL filed Thursday is seeking to set aside P108 billion for a stimulus package that will address the economic impact of the outbreak of the coronavirus disease 2019 (Covid-19).

EO to grant DTI more powers to curb hoarding

THE Department of Trade and Industry (DTI) is proposing an executive order (EO) to increase its powers to monitor establishments to deter hoarding and overpricing as the coronavirus disease 2019 (Covid-19) outbreak spreads in the Philippines.
Boracay

Boracay tourist arrivals plunge 80%

BORACAY’S average daily tourist arrivals fell by more than 80% year-on-year to around 1,000 people in early March the wake of the coronavirus (Covid-19) outbreak, Tourism Undersecretary Arturo P. Boncato, Jr. said.
Asian Development Bank (ADB)

ADB offers to fund makers of key goods used in Covid-19 containment

COMPANIES in Asia and the Pacific region manufacturing and distributing products essential to containing the outbreak of coronavirus (Covid-19) have been offered the Asian Development Bank’s (ADB) $200-million Supply Chain Finance Program for capital to support the expected increase in production amid demand for such products.

Government funding to fight Covid-19 deemed adequate

THE Treasury said the government has sufficient cash to support agencies seeking to contain the outbreak of coronavirus (Covid-19) cases.
Arthur P. Tugade

Transport dept’s Tugade joins other Cabinet officials in self-quarantine

KEY OFFICIALS of the transportation department, including its Secretary, have quarantined themselves alongside other Cabinet officials following potential exposure at an event where one of the attendees is believed to have since contracted the coronavirus (Covid-19).

ATI issues positive outlook for Manila, Batangas ports

LISTED PORT operator Asian Terminals, Inc. (ATI) said cargo flow at the Manila South Harbor and Batangas Port is expected to improve by mid-March even as the region grapples with the outbreak of coronavirus (Covid-19).

DA to pre-position key food items within NCR

AGRICULTURE Secretary William D. Dar said the Department of Agriculture (DA) will strategically position stockpiles of key food items around Metro Manila in the event of supply disruptions arising from the outbreak of coronavirus (Covid-19).
assembly line

Auto industry seen hardest hit by coronavirus outbreak

IHS Markit expects the automobile and auto-parts industry to be the most severely hit sector globally this year by disruptions caused by the outbreak of coronavirus disease 2019 (Covid-19), with the industry estimated to suffer a 4.4% drop in value added terms.

Peso sinks on virus fears

THE PESO sank against the greenback on Thursday due to negative investor sentiment as the coronavirus disease 2019 (COVID-19) continues to spread around the world, with the outbreak already declared a pandemic.
19022018_PSE-BGC_Arnaiz11

PSEi sinks to 5,700 level as coronavirus spreads

THE MAIN INDEX succumbed to the 5,700 level yesterday, seeing a massive sell-off due to lingering worries over the coronavirus disease 2019 (COVID-19) pandemic.

What is to be done

TO ACCELERATE the development of far-flung areas with good economic potential, we have to connect them by air to the major trade centers. This will require building or modernizing appropriate-capacity airports at government expense. To attract private air carriers to provide flights to these far-flung areas, a system of fare-subsidy to the carriers can be developed based on seat capacity utilization such that, when the capacity utilization reaches an agreed-upon rate, the subsidy ceases. Airports must be provided with night landing facilities so that the airlines can fly their otherwise idle aircraft to these rural destinations at night.

Exogenous shocks, local anchors and economic growth

The coronavirus continues to cause fear in civil society and financial markets. In my last column, assurance was given that the Philippine growth story is not mythical. There is substance to the signs, even as they might be wonders to some.

Entitled

By definition, the adjective “entitled” has two meanings.

What the media need

It’s been said before, but has never been taken seriously by the members of a community whose egos are as vast as cathedrals: those in the media criticize anyone and anything except themselves. In more times than can be counted, irresponsible and ethically clueless practitioners excuse their own behavior no matter their consequences to the public they’re supposed to serve. They argue that they’re merely doing their jobs in behalf of the people’s right to know and the exercise of their rights to press freedom and free expression.

Creating a Commission on Unalienable Rights

Mid-2019 saw the creation of the US State Department’s Commission on Unalienable Rights, tasked with providing “advice and recommendations concerning international human rights matters. The Commission will provide fresh thinking about human rights discourse where such discourse has departed from our nation’s founding principles of natural law and natural rights.” Frankly, it’s an idea whose time has come.

Ceres stretches Group G lead with 4-0 win over Bali United

AFC Cup Group G leader Ceres-Negros FC extended its lead on top of the heap after defeating Bali United FC, 4-0, in tournament action on Wednesday at the Rizal Memorial Stadium in Manila.

Staying the course pays off for Magno as she books Summer Olympic berth

INITIALLY did not have her way at the Asia and Oceania Olympic Boxing Qualification Tournament in Amman, Jordan, Filipino flyweight boxer Irish Magno stayed the course and saw it pay off as she booked a spot in the Tokyo Olympic Games later this year.

NBA suspends the season until further notice as it deals with virus pandemic

LOS ANGELES -- The NBA announced that it will suspend the season after the Wednesday night schedule until further notice as it deals with the coronavirus pandemic.

San Miguel Beermen big man June Mar Fajardo leads awardees at PBA press corps...

ACCOLADES continue to pour in for currently injured big man June Mar Fajardo of the San Miguel Beermen as he leads the roster of awardees at the 2019 PBA Press Corps Awards Night set for March 16 at the Novotel Manila in Araneta City.

Makati forces San Juan to sudden death in MPBL North Finals

MAKATI-SUPER Crunch survived a late surge from North leader San Juan-Go For Gold, 91-88, in a game that was held in closed doors to forge a decider in the 2020 Chooks-to-Go Maharlika Pilipinas Basketball League Lakan North Division Finals, Wednesday, at the FilOil Flying V Centre.


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Season suspended

And so the worst has come to pass. The National Basketball Association has decided to suspend the 2019–20 season until further notice. In a statement issued yesterday, it said it will “use the hiatus to determine next steps for moving forward in regard to the coronavirus pandemic.” Evidently, the commissioner’s office deemed the choice, however extreme, to be most prudent after it found All-Star Rudy Gobert to have “preliminarily tested positive for COVID-19.” Prior to the turn of events, the Jazz and Thunder were supposed to face off at Chesapeake Energy Arena. In fact, they were ready for tip-off, only to be sent back to their locker rooms while fans lay in wait. After half an hour passed, an announcement was officially made on the postponement of the match “due to unforeseen circumstances.”

Duterte bans domestic travel to and from Metro Manila

President Rodrigo R. Duterte yesterday ordered a one-month halt to land, domestic air and sea travels to and from Metro Manila as part of government efforts to contain a novel coronavirus outbreak that has infected at least 52 people in the Philippines.

DTI says price freeze on basic goods in effect for 60 days

THE Department of Trade and Industry (DTI) announced a nationwide price freeze on basic goods after the country was placed under a state of public health emergency amid a novel coronavirus outbreak.

Duterte to be tested for novel coronavirus

PRESIDENT Rodrigo R. Duterte will be tested for the novel coronavirus amid rising cases of infection in Metro Manila, the presidential palace said on Thursday.

Pinaglabanan Bridge reopens

THE HISTORIC Pinaglabanan Bridge that connects Old Sta. Mesa Road in Manila and N. Domingo Street in San Juan has been reopened after undergoing reconstruction works, San Miguel Corp. (SMC) announced on Thursday.

COVID-19 Regional Updates: Visayas

THE NEGROS Oriental provincial government has assured that contact tracing was immediately launched Wednesday night upon confirmation of a coronavirus disease 2019 (COVID-19) patient in the capital Dumaguete City.

COVID-19 Regional Updates: Mindanao

THE 54-year old coronavirus disease 2019 (COVID-19) patient at the Northern Mindanao Medical Center (NMMC) in Cagayan de Oro City is “improving,” according to Chief of Hospital Jose Chan.

Nationwide round-up

THE SUPREME Court has ordered the suspension of hearings nationwide on March 13-18.

Nation at a Glance — (03/13/20)

News stories from across the nation. Visit www.bworldonline.com (section: The Nation) to read more national and regional news from the Philippines.

Dennis Uy on the lookout for the first Philippine unicorn

Billionaire Dennis Uy announced his intention to find and help scale tech startups positioned to reach a billion dollars in valuation.

Google launches MSME Caravan to digitize small businesses nationwide

The project aims to educate MSMEs on digital marketing skills and tools, bringing out their edge amidst the competitive business landscape.

Women 2020 explores why PH is the best place to be a female founder

The Philippines is fertile ground for women entrepreneurs. GoNegosyo’s annual Filipina entrepreneurship summit fosters this entrepreneurial drive.

PHL seen ‘insulated’ from virus fallout

THE PHILIPPINES is still relatively more “insulated” to risks arising from the spread of the coronavirus disease 2019 (COVID-19) compared with its regional peers, despite a recent spike in the number of local transmission cases, according to S&P Global Ratings.

Grocery operator’s IPO secures SEC go signal

MERRYMART Consumer Corp. has gained the approval of the Securities and Exchange Commission (SEC) to conduct a P1.6-billion initial public offering (IPO), amid a volatile market facing negative investor sentiment over the coronavirus disease 2019 (COVID-19) outbreak.

PHL remains among weakest in rule of law

PHILIPPINE rule of law has remained one of the weakest in East Asia and the Pacific, according to an annual survey of the World Justice Project (WJP).

Where rule of law is strongest (or weakest)

PHILIPPINE rule of law has remained one of the weakest in East Asia and the Pacific, according to an annual survey of the World...

‘Hysteria’ over coronavirus hurting malls, hotels

PANIC over the spread of the coronavirus disease 2019 (COVID-19) around Metro Manila is hurting the property sector, as more Filipinos avoid visiting shopping malls and staying at hotels.

Udenna takes over Chevron stake in Malampaya

UDENNA CORP. said on Wednesday that its unit had completed the acquisition of Chevron Malampaya LLC’s 45% stake in the Malampaya gas-to-power project located offshore of northwest Palawan.
SEC logo

SEC plans to ease filing rules for firms amid virus

THE Securities and Exchange Commission (SEC) is planning to relax regulatory policies for corporations amid the coronavirus disease 2019 (COVID-19) outbreak.

SMC foods and drinks unit posts 6% profit increase to P32 billion

PROFITS of San Miguel Food and Beverage, Inc. (SMFB) climbed 6% in 2019, driven by higher volumes of its products and an increase in average selling prices.

Venture capital firm Kickstart sees more local investing opportunities

KICKSTART Ventures, Inc. said it sees more opportunities to invest this year in startups that offer Internet-of-Things (IoT) innovations for “smarter living.”

Amazon launches business selling automated checkout to retailers

AMAZON.COM Inc. on Monday is set to announce a new business line selling the technology behind its cashier-less convenience stores to other retailers, the company told Reuters.

Yields on BSP’s term deposits drop on virus, lower oil prices

YIELDS ON THE central bank’s term deposit facility (TDF) declined further on Wednesday amid developments in the coronavirus disease 2019 (COVID-19) outbreak and the recent drop in oil prices.