Home 2020 March 25

Daily Archives: March 25, 2020 | 9:00 pm

PSE bells

PSEi returns to 5,000 level on BSP’s RRR cut

THE MAIN INDEX broke into the 5,000 level on Wednesday as investors celebrate the central bank’s reserve ratio cut, which is seen to help address the economic impact of the coronavirus disease 2019 (COVID-19) pandemic.

Peso weakens versus the dollar as oil prices correct

THE PESO depreciated against the greenback on Wednesday as oil prices corrected and due to dollar demand from corporate clients.
Department of Agriculture (DA) logo

Agri dep’t seeks extra P32-B budget to ensure food security

THE Department of Agriculture (DA) has requested a P32 billion supplemental budget to ensure food security for the duration of the COVID-19 outbreak.
Arthur P. Tugade

Transport GOCCs ordered to make early P10-B dividend payment

TRANSPORTATION Secretary Arthur P. Tugade has ordered the Philippine Ports Authority (PPA), Manila International Airport Authority (MIAA), and Civil Aviation Authority of the Philippines (CAAP) to hand over in advance P10 billion worth of dividends to the government by Friday.

Southeast Asia regresses on peace, inequality SDGs

SOUTHEAST Asia has regressed on Sustainable Development Goals (SDGs) like promoting peaceful and inclusive societies and reducing inequality, a United Nations (UN) agency said.

IPOPHL assessing lockdown impact on IP registration

THE Intellectual Property Office of the Philippines (IPOPHL) said it is watching filing activity closely during the month-long COVID-19 lockdown to assess whether it can sustain the pace of registrations.

Stay home!

“Answer me quickly, Lord; my spirit fails. Do not hide Your face from me or I will be like those who go down to the pit. Let the morning bring me word of Your unfailing love, for I have put my trust in You.” Psalm 143:7-8

Life in a plastic bubble

As I started to write this weekly column, my third in “quarantine,” a Paul Williams song titled, “What Would They Say,” came to mind. For those who may not remember that 44-year-old song, or were not yet alive at the time, I share with you below some of its lyrics. I recall the song was used in the 1976 TV movie The Boy in a Plastic Bubble, which got four Emmy nominations.
computer laptop typing

Online learning as a means to achieve educational access and continuity in times of...

School closures have been one of the most massive forms of mitigation that states and societies have undertaken to flatten the coronavirus curve. As a major form of social distancing, it entails the complete shutdown of school and university campuses from students and workers and a shift to online learning as well as online operations, which became an emerging practice in few places.

Estimating electricity and growth slowdown Q1 2020

The Independent Electricity Market Operator Philippines (IEMOP) sent a media advisory about electricity supply-demand in weeks two and three of this month and the numbers are not good. There was a huge decline in average demand of 2.03 gigawatt (GW) from March 15, the start of Metro Manila quarantine or lockdown from the rest of Luzon. Consequently, prices at the Wholesale Electricity Spot Market (WESM) also declined.

Communication in the time of a pandemic

THERE is a reason why the public is clamoring for more information during this pandemic. Nobody wants to be left out, especially if everyone is affected. Information, regardless if it’s during a crisis or in a normal situation, is a public right. It is also the business of the public to access and share reliable and credible information, especially during this era of fake news.

Senators want to turn military hospitals into COVID-19 centers

SENATORS on Wednesday proposed that military hospitals and other state-owned facilities be converted into health centers to treat patients infected with the novel coronavirus.
Senate leader: Impeachment won’t delay priority bills

Senator Pimentel tests positive for novel coronavirus

ANOTHER Philippine senator has tested positive for the novel coronavirus, the second senator to get infected.

NBI arrests 2 for selling overpriced thermal scanners

NATIONAL Bureau of Investigation (NBI) agents have arrested two people for selling overpriced medical supplies worth P1.42 million, it said in a statement yesterday.

PCSO fund to cover insurance of COVID-19 patients

THE government has ordered the Philippine Charity Sweepstakes Office (PCSO) to hand over more than P400 million to cover the health insurance of COVID-19 patients.

Filipino perception of causes of death inaccurate

FILIPINO perception about the leading causes of death in the country was among the least accurate, according to the latest study by French market research company Ipsos MORI.

#COVID-19 Regional Updates (03/25/20)

THE MANILA International Container Port (MICP) will continue to process shipments despite its temporary closure on Tuesday for disinfection of facilities and quarantine of personnel, the Bureau of Customs (BoC) said on Wednesday.

Local sports officials support Olympic delay

ORGANIZERS of the Summer Olympics in Tokyo this year on Tuesday moved for the postponement of the Games to 2021 over ongoing concerns on the coronavirus disease 2019 (COVID-19) pandemic.

Nepomniachtchi leads the Candidates

FIDE Candidates Tournament Yekaterinburg, Russia March 15–April 5, 2020 Current Standings (round 6 of 14) 1 Ian Nepomniachtchi RUS 2774, 4.5/6 2 Maxime Vachier-Lagrave FRA 2767, 3.5/6 3–6 Fabiano Caruana...

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The decision to postpone the 2020 Tokyo Games was made not a moment too soon. Certainly, its effect on athletes who hitherto looked forward to the Olympics being held in July and trained accordingly cannot be underestimated. For countless who fixed their calendars so they could be in peak form for the quadrennial spectacle, the delay throws a monkey wrench on their bids for glory. The ideal would have been to push through with it, but the rapid spread of the new coronavirus and the need for containment made it untenable. And because lives were at stake, there was simply no choice but to move it back a year.

Wilcon Depot allocates P100M financial assistance to aid employees and community partners during COVID-19...

In the face of the Coronavirus Disease-2019 (COVID-19) pandemic, Wilcon Depot, the Philippines’ leading home improvement and construction supply retailer, releases a total of...

Angkas launches food delivery service to support bikers, quarantined users

“Guys legit to, gumawa kami ng food delivery service oha,” the company’s Twitter announcement reads. “Para to sa mga bikers at sa inyo. We will not take any commission in this initiative. Sa kanila lahat to.”

Filipino CTO builds app for COVID-19 contact tracing in Cebu

The app, designed by a Cebu-based tech expert, can monitor location and even other people that a user might have been in contact with.

Tips on running a remote office from a remote-first startup founder

Working from home is not for everyone. It requires self-discipline, self-motivation, it can get lonely, and not everyone has the ability to be as productive at home. But there are certain things that can be done to mitigate those drawbacks, and even help your team thrive.

NEDA’S projected impact of COVID-19 on the Philippine economy

THE Philippine economy could contract by as much as 0.6% this year due to the widening fallout from the coronavirus disease 2019 (COVID-19) pandemic,...

Economy may contract this year: NEDA

THE Philippine economy could contract by as much as 0.6% this year due to the widening fallout from the coronavirus disease 2019 (COVID-19) pandemic, according to the National Economic and Development Authority (NEDA).

BSP pumps more cash into economy with cut in banks’ reserve requirements

THE Bangko Sentral ng Pilipinas (BSP) will slash the reserve requirement ratio (RRR) of universal and commercial banks by 200 basis points (bps) to release additional liquidity into the market amid the coronavirus disease 2019 (COVID-19) outbreak.

Fitch outlook on banking industry turns negative

FITCH RATINGS downgraded its outlook on the Philippine banking industry to “negative,” from “stable,” citing the growing fallout from the coronavirus disease 2019 (COVID-19) outbreak.

SB Corp. putting up P1-billion lending facility for small firms

SMALL Business Corp. (SB Corp.) is setting up a P1-billion loan program for micro and small enterprises that have been affected by the enhanced community quarantine in Luzon.

Cirtek remains open, receives more orders

ELECTRONICS manufacturer Cirtek Holdings Philippines Corp. said it is receiving more orders at present as it maintained operations while Luzon is on lockdown.

Angkas starts food delivery service to help bikers

RIDE-HAILING platform Angkas now has a food delivery service to help its bikers during the government-imposed quarantine period.

Now, Time to Sit

THE various details that were once mere facts of life become major decisions when you’ve been forcibly locked inside the house by a virus. New developments everyday force us ever more to retreat inwards, but inside a space filled with dread. Maybe a touch of true silence will make that place a little better.

Eagle Cement profit up 25% to P6 billion

EAGLE Cement Corp. reported a 25% growth in its 2019 earnings, attributed to the full-year operation of its new production line in Bulacan.

6Cyclemind project features fans’ cover songs

FILIPINO rock band 6Cyclemind has partnered with Sony Music Philippines to create a cover project featuring the fans’ rendition of songs from the band’s discography.

Gov’t rejects bids for T-bonds

THE GOVERNMENT rejected all bids for the fresh seven-year Treasury bonds (T-bonds) it offered on Tuesday amid higher rates, amid uncertainties due to the coronavirus disease 2019 (COVID-19) pandemic.

Microsoft boosts collaboration platform as more people work and learn from home

MULTINATIONAL technology company Microsoft Corp. has added new features to its unified communication and collaboration platform, Microsoft Teams, to further address the needs of an increasing number of people working and learning from home amid the coronavirus disease 2019 (COVID-19) pandemic.

Caritas Manila calls for donations

CARITAS MANILA Inc., the Roman Catholic Archdiocese of Manila’s social arm, is calling for cash donations for 6,000 poor communities in Metro Manila that are at risk in the midst of the COVID-19 pandemic.

Fed aims ‘bazooka’ to lift coronavirus-hit economy

THE US FEDERAL Reserve on Monday rolled out an extraordinary array of programs to backstop an economy reeling from sweeping restrictions on commerce that scientists say are needed to slow the coronavirus pandemic and ultimately keep more people safe.

Transcom sets work plan during lockdown

THE local unit of business process outsourcing firm Transcom Worldwide AB has laid down the work arrangement for employees during the Luzon-wide enhanced community quarantine.

DLSU serves as a sanctuary to the homeless during enhanced community quarantine

De La Salle University is now serving as a temporary sanctuary for the homeless in Manila during the enhanced community quarantine.

Life insurers to adopt special process for all COVID-19 claims

THE LIFE INSURANCE sector will adopt a special management process for claims related to the new coronavirus disease 2019 (COVID-19) to help policyholders get assistance faster.

AC Energy completes stake purchase of Negros solar farms

AYALA-LED AC Energy Philippines, Inc. (ACEPH) on Tuesday announced that it has finished its purchase of controlling stakes in two Negros Occidental solar farms within its target date.

How PSEi member stocks performed — March 24, 2020

Here’s a quick glance at how PSEi stocks fared on Tuesday, March 24, 2020.