Home 2020 March 13

Daily Archives: March 13, 2020 | 8:16 pm

Economy at risk from metro lockdown — analysts

A MONTH-LONG lockdown ordered by President Rodrigo R. Duterte in Manila, the capital and surrounding cities could slow overall growth as a region-wide quarantine affects logistics and supply chains, according to analysts.
tax collector

January fiscal balance swings to surplus

THE government’s fiscal balance swung to a budget surplus in January after eight months of deficits, though lower than a year earlier as state spending overtook revenue collection, according to the Treasury bureau.

BSP policy meeting to proceed this month

THE Philippine central bank will proceed with its policy meeting on March 19 even after some key members of the Monetary Board were either tested or had to go on self-quarantine for the novel coronavirus, its chief said on Friday.

Police vow ‘absolute blockage,’ to arrest lockdown violators

POLICE on Friday threatened to arrest people who ignore a month-long metro-wide lockdown that President Rodrigo R. Duterte ordered on Thursday amid a new coronavirus outbreak, saying an “absolute blockage” would be enforced.

DoH confirms 12 more coronavirus cases; 3 more die

THREE MORE novel coronavirus patients have died, bringing the total deaths to five, according to the Department of Health (DoH).

Duterte negative for COVID-19

President Rodrigo R. Duterte had tested negative for the novel coronavirus, his former aide Senator Christopher Lawrence T. Go said on Friday evening. “The...

DoH gets $3M grant from ADB against coronavirus

THE government has obtained $3 million in additional funding from the Asian Development Bank (ADB) to contain a novel coronavirus outbreak that has infected at least 52 people in the Philippines, the Finance department said on Friday.

Courts ordered to keep skeletal workforce

THE Supreme Court (SC) has ordered courts in Metro Manila to operate using skeletal staff from March 15 to April 12 after President Rodrigo R. Duterte declared a lockdown in the capital and nearby cities.
Davao City Hall

Travels to and from Davao City discouraged

DAVAO CITY Mayor Sara Duterte-Carpio has issued an order discouraging travel to and from the city given limited local medical services and facilities amid a novel coronavirus threat.

Stocks rise 1% as investors, pension funds snap bargains

LOCAL stocks ended on a positive note on Friday, capping a wild week that saw the equities market reel from the continuous spread of the novel coronavirus disease (COVID-19) epidemic.
SEC logo

SEC to firms: disclose Impact of virus on operations

THE Securities and Exchange Commission (SEC) told listed companies to disclose information concerning the impact of the new coronavirus disease 2019 (COVID-19) pandemic on their operations.

PAL, AirAsia cancel flights after Metro Manila ‘quarantine’

FLAG carrier Philippine Airlines (PAL) and budget carrier Philippines AirAsia, Inc. announced on Friday the cancellation of hundreds of their domestic flights to and from Manila from March 15 to April 14 in view of the implementation of President Rodrigo R. Duterte’s “community quarantine” order.

Nickel Asia posts 11% income slide

NICKEL ASIA Corp. reported an 11% decline in attributable net income last year to P2.68 billion after the listed miner and ore exporter recorded a drop in its share from two mining investments.

JFC inks deal to expand Tim Ho Wan in China

TIM HO WAN is set to open its flagship store in China after Jollibee Foods Corp.’s (JFC) Shanghai-based joint venture Hong Yun Hong Food and Beverages Management Co. Ltd. has secured a franchise deal to expand the Hong Kong-based dim sum business in the mainland.
2GO Group

2Go cancels trips to and from Manila

SHIPPING and logistics provider 2Go Group, Inc. announced on Friday the cancellation of its voyages to and from Manila from March 15 in view of President Rodrigo R. Duterte’s “community quarantine” directive in Metro Manila.

SSS, GSIS directed to prop up PSE with more equities purchases

FINANCE Secretary Carlos G. Dominguez III said Friday that the state pension funds need to double their regular equities purchases to help prop up the stock market after sharp losses triggered trading halts Thursday.
container yard trade

Exporters call for gov’t aid to cushion impact of pandemic

THE Philippine Exporters Confederation, Inc. (PhilExport) said the the government needs to help businesses stay afloat during the coronavirus (Covid-19) outbreak and pitched a program of easier financing terms, tax breaks, and unemployment relief for workers.

NCR residents warned against excessive food stockpiling

THE Department of Agriculture said Metro Manila’s population of around 14 million need not maintain more than their usual supplies of food as major commodities like rice are readily available.

NEA collects P2.3-B in loan payments from co-ops in 2019

THE National Electrification Administration (NEA) said loan payments from electric cooperatives (ECs) in 2019 totaled P2.297 billion, beating the target by 15% and exceeding the 2018 total of P2.263 billion.
DoF main office

Peso deemed among most resilient currencies in Asia — DoF

THE peso was among the more resilient currencies in Asia amid rising uncertainty and volatility in global financial markets, the Department of Finance (DoF) said.

Peso weakens but comes off lows after stocks rebound

THE peso weakened against the dollar Friday as the market absorbed news of the further spread of coronavirus disease (Covid-19) in the Philippines, but came off its lows after a stock market rebound.

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Ricoh Philippines: Celebrating 20 years, three loves, one growing company

Ricoh Philippines, Inc., the local subsidiary of leading global manufacturer of office automation equipment Ricoh Company, Ltd., recently marked its 20th anniversary in the...

PSEi’s 9.71% decline marks its biggest one-day percentage drop since 2008

THE STOCK MARKET on Thursday plunged nearly 10% to its lowest since 2012 as investors headed for the exit amid deepening fears over the...

Stocks plummet on coronavirus fears

THE STOCK MARKET on Thursday plunged nearly 10% to its lowest since 2012 as investors headed for the exit amid deepening fears over the coronavirus disease 2019 (COVID-19) outbreak.

‘Never before seen’:PHL braces for pandemic

A 48-YEAR-OLD Filipino worker at the Philippine office of accounting firm Deloitte was confirmed to have been infected with a novel coronavirus on March 5 after traveling to Japan in the previous month. He was the fourth case in the Philippines.

Economic growth may fall below 5% this year

MOODY’S ANALYTICS has lowered its 2020 growth outlook for the Philippines to below five percent on expectations the coronavirus disease 2019 (COVID-19) will affect exports and tourism, among others.

Metro Manila water providers to adjust rates in second quarter

METRO MANILA water concessionaires secured the go signal from the Metropolitan Waterworks and Sewerage System (MWSS) to adjust rates in the second quarter.

PSALM studies SMC prepay offer

THE government is considering the offer of San Miguel Corp. (SMC) subsidiary South Premiere Power Corp. (SPPC) to pay in advance its obligations for administering a 1,200-megawatt power plant in Batangas.

Tom Hanks, wife Rita Wilson test positive for coronavirus

LOS ANGELES — Oscar-winning actor Tom Hanks and his wife, actress Rita Wilson, have both tested positive for coronavirus in Australia, the actor said on Twitter.

Ayala Corp. net income up 11%

AYALA CORP. (AC) posted an 11% increase in earnings in 2019, lifted by gains from divesting in its education and energy businesses and higher consumer demand from its property, telecommunications and banking segments.

Moira chosen for Mulan song

SINGER Moira dela Torre has been chosen by Disney Philippines to sing the country’s version of the Mulan anthem, “Reflection,” for the reimagined version of Mulan screening on March 25.

SMC reports flat earnings as fuel, food units slip

SAN MIGUEL CORP. (SMC) posted flat earnings in 2019, dragged by a decline in earnings from its oil and food businesses.

Billie Eilish’s ‘bad guy’ is top global single for 2019

LONDON — Billie Eilish’s “bad guy,” a pounding song that pokes fun at distorted perceptions, was named as the top global single of 2019 by the record industry.

Max’s Group says earnings rise 15% as fourth-quarter sales surge

EARNINGS of Max’s Group, Inc. (MGI) grew 14.8% in 2019 on the back of stronger revenues recorded during the fourth quarter.

Living the (NCT) Dream

THE concept of NCT Dream is not really new. One of the sub-units of the bigger group, NCT Dream follows an admission-graduation system where a member automatically leaves the mini-group upon turning 19 years old. Launched by SM Entertainment in August 2016, NCT Dream is currently comprised of Renjun, Jeno, Haechan, Jaemin, Chenle, and Jisung but following the membership rules, they will either soon return to the main NCT (which stands for Neo Culture Technology) fold, or possibly join some other sub-units such as NCT U, NCT 127, or WayV, the newest grouping.
Grab to launch new services in Cebu

Grab suspends carpooling services

TRANSPORT network vehicle service Grab Philippines announced on Thursday that its GrabShare carpooling services in Metro Manila and Cebu will be suspended beginning Friday, March 13, as confirmed cases of coronavirus disease 2019 (COVID-19) in the country continue to rise.

BSP instructs lenders to prepare contingencies as virus spreads

THE BANGKO SENTRAL ng Pilipinas (BSP) is urging financial institutions to carry out measures such as alternate work arrangements to safeguard employees against the coronavirus disease 2019 (COVID-19) outbreak while making sure financial services are available to the public.

Plays, concerts canceled on COVID-19 concerns

IN LIGHT of the concerns around the coronavirus disease 2019 (COVID-19) which has led the Philippine government to declare a state of public health emergency, many performances and entertainment events have been postponed or canceled. Others will push through, but with stringent hygiene arrangements.

Axelum profits double last year

COCONUT products manufacturer Axelum Resources Corp. (Axelum)reported doubling its net income in 2019, driven by improved gross margins despite lower revenues.

Unemployment benefits ready for SSS members

STATE-RUN Social Security System (SSS) has P1.2 billion in unemployment benefits ready for members who will be laid off by companies affected by the spread of the coronavirus disease 2019 (COVID-19), which is projected to result in 30,000 to 60,000 job losses if the pandemic lasts until June.

Call me by Your Name

WATCHED Makoto Shinkai’s Your Name out of curiosity. Everyone hailed the movie like a messiah descended from heaven to unleash upon the world his holy greatness.
Professional Regulation Commission (PRC) logo

PRC cancels March, April board exams

THE PROFESSIONAL board exams scheduled for April and the remainder of March have been cancelled to minimize the spread of the coronavirus (COVID-19) infection.

Don’t ask employees if they have COVID-19, and other HR tips

CAN I ASK an employee if he or she has COVID-19? Can I send a sick worker home and require a doctor’s note to return? Should I worry about staff getting the virus from the mail or a shipping container from China?

Insurers face double whammy from coronavirus crisis

LONDON — Having initially brushed off the potential impact from coronavirus-linked claims, global insurers are waking up to the prospect of a double whammy — a sharp rise in payouts at a time of big investment losses.

What to see this week

3 films to see on the week of March 13, 2020 — March 19, 2020