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Daily Archives: May 5, 2020 | 9:00 pm

PSE BGC bell

Shares up as Duterte changes tone on water firms

THE PHILIPPINE market emerged as one of Asia’s best performers on Tuesday as the main index bounced back on the president’s apology to listed water concessionaires.

Peso climbs on inflation

THE PESO strengthened on Tuesday on the back of positive market sentiment on easing inflation and amid expectations of another contraction in the US services sector.
congress house of representatives

CITIRA faces ‘tweaks’ to maximize potential as stimulus measure

OBJECTIONS to the corporate tax reform bill could be receding because of its potential for resuscitating the economy, though it may need to be reconfigured before it becomes a full-blown post-pandemic stimulus measure, legislators from both chambers said.

‘Build, Build, Build’ priorities shifting in favor of health, digital

THE government will assign higher priority to health and digital infrastructure projects in its flagship “Build, Build, Build” program, the National Economic and Development Authority (NEDA) said.
Department of Budget and Management (DBM) facade

PHL crisis spending seen low amid ample fiscal space

THE Philippines may need to supplement its initial crisis spending plans, which are currently the equivalent to as much as 6% of gross domestic product (GDP), but the government retains adequate fiscal space to escalate its stimulus efforts if needed, analysts said.
ASEAN flags

ASEAN April PMI hits all-time low 30.7 after March retreat to 43.4

FACTORY activity in the ASEAN region deteriorated further to a record low in April due to disruption on the supply side while demand dried up during the pandemic, IHS Markit said.
windmill renewables

Most renewable energy plants continue to operate during lockdown

RENEWABLE energy power plants are still running with no impact from the disruptions caused by the coronavirus disease 2019 (COVID-19) emergency, the industry’s regulator said.

Exporters urged to explore online channels following trade show cancellations

THE Department of Trade and Industry’s (DTI) export promotion arm is encouraging exporters to explore online platforms after trade shows were canceled in response to the coronavirus disease 2019 (COVID-19) crisis.
palay rice farmers

Palay farmgate prices ‘normalizing,’ rise above gov’t support price

THE farmgate price of palay, or unmilled rice, rose in several regions during the dry season to levels exceeding the government’s P19 per kilogram support price.
BSP

GOCCs remit nearly P130 billion to help bolster gov’t funds

STATE-OWNED firms have remitted P129.45 billion worth of dividends to the national government to increase the government’s war chest for containing the coronavirus disease 2019 (COVID-19) outbreak, the Department of Finance (DoF) said.

Fitch Solutions slashes PHL consumer spending growth outlook

FITCH Solutions Macro Research said it downgraded its 2020 household spending growth outlook for the Philippines to 3.4% from 5.8% previously before the coronavirus disease 2019 (COVID-19) outbreak.

DoE asks ethanol producers to produce more ethyl alcohol

THE Department of Energy (DoE) has asked ethanol producers to help raise the supply of ethyl alcohol, stocks of which are currently running low after a spike in demand for disinfecting materials during the coronavirus disease 2019 (COVID-19) outbreak.

Expert cites ‘flattening’ curve for local COVID-19 infections

LOCAL coronavirus infections may have slowed after a Luzon-wide lockdown that started on March 17, an expert from the Ateneo de Manila University’s School of Medicine and Public Health said on Tuesday.

DepEd moves class opening to August

THE Department of Education (DepEd) on Tuesday said it would move the opening of classes this year to August from June as the country battles a novel coronavirus pandemic.

COVID-19 takes its toll on the Ramadan economy and sense of community

RAMADAN is mainly associated with fasting, but this holy month for the Islamic faith is also about sharing and community.
Carlos G. Dominguez

POGOs must still pay taxes, says DoF chief

OFFSHORE gaming operators that are mostly Chinese companies that employ their own citizens are exempted from tax even after these were classified as part of the business process outsourcing sector, the Finance department said on Tuesday.

Sotto lists Senate priorities

THE Senate will prioritize measures seeking to set up a trust fund for coconut farmers and expand benefits to solo parents, Senate President Vicente C. Sotto III said at an online news briefing on Tuesday.

#COVID-19 Regional Updates (05/05/20)

PANGASINAN, which has not recorded any new coronavirus disease 2019 (COVID-19) patient since April 25, started mass testing for the virus on May 5 as the provincial government prepares for the possible easing of restrictions by May 16.

Post-COVID-19 wish list

When the pandemic has fizzled out, what will be the new normal?

Hello, lockdown, goodbye: Exit strategy for COVID-19

Undeniably, the enhanced community quarantine (ECQ), which was imposed by the National Government in the entirety of Luzon, and by different local government units (LGUs) in the other parts of the Philippines, has saved many lives. In its latest report, the University of the Philippines COVID-19 Pandemic Response Team determined that at the time of the imposition of the Luzon-wide ECQ, the virus’ Reproductive Number was hovering at above two to four -- the Reproductive Number is used to measure the transmission potential of a disease, and a Reproductive Number of >1 is an indication that the number of cases is increasing. As of April 19, the Reproductive Number in the Philippines is at 1.072. While we have not yet flattened the curve, we can optimistically say that we are slowly getting there.


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Rebuilding consumer and business confidence towards the new normal

As the government extended the quarantine period further until May 15, a new set of guidelines was released that allowed some businesses to resume, either in partial or full operations. In areas that are still under the enhanced community quarantine (ECQ), the list of businesses allowed to operate was expanded on the condition that proper health precautions are strictly observed. In areas now classified as under general community quarantine (GCQ), most businesses will now be allowed to operate but were reminded to still follow the minimum set of health standards.

For hungry Filipinos during the pandemic, Bayan Bayanihan brings food and hope

WHEN a Philippine Army soldier brought food packs to Rowena P. dela Cruz’s doorstep one Saturday afternoon in April, tears streamed down her face.

Dumb conspiracy theories aren’t the only 5G headwinds

DO YOU remember 5G? Before the coronavirus consumed all of our attention, the fifth-generation mobile networks were supposed to be the panacea for lagging economies, telecoms firms, keeping pace with China, autonomous cars, smart factories and plenty more besides.

ASEAN Para Games cancellation tough but needed — officials

CANCELING something much had been put into is a decision not easy to make but sometimes unavoidable circumstances and pressing concerns push such to be made, like in the case of the 10th ASEAN Para Games.

McLaren boss expects to ‘hit a glitch’ in F1 season plans

LONDON -- Formula One (F1) can be expected to “hit a glitch” as the sport tries to complete a 2020 season stalled by the COVID-19 pandemic but 14-15 races look feasible, McLaren boss Zak Brown said on Monday.

NFL mourns legendary Dolphins coach Don Shula

DON SHULA, the winningest coach in National Football League (NFL) history, died Monday. He was 90.

The Last Dance continues to churn out impressive numbers

MIDWAY into its run, the 10-part documentary The Last Dance continues to churn out impressive audience numbers, now averaging 5.8 million viewers across its first six episode premieres, this according to numbers shared by ESPN.

Revelations

Fans past the halfway point of The Last Dance cannot be faulted for deeming it a gift that keeps on giving. Episodes Five and Six, released Monday, come with the air of inevitability that permeates all documentaries chronicling the past, and yet proves continually compelling all the same. The series’ microscopic look at the 1997-98 season all and sundry know the ending to benefits from the willing, even enthusiastic, participation of its principal protagonist. Indeed, Michael Jordan, whose voice invariably carries heft because of his status as the best of the best of all time, opens his thoughts and feelings in a manner that sheds new light on history. It’s his light, granted, but one that unveils a unique perspective on already-established facts.

Project ARK conducts pilot run at Mayor Isko’s Manila

Project ARK, a massive rapid testing initiative by GoNegosyo and other private sector partners, has officially started its pilot run in the City of Manila.

Improve your Remote Work Experience with Dell Unified Workspace

Dell Technologies understands that ensuring business continuity is the top priority for organizations today. During these uncertain times, IT professionals face the challenge of...

Ramadan 2020: Practicing Muslim faith in the time of COVID-19

By Michaela Tangan Features Writer, The Philippine STAR Muslims are now in the midst of month-long fasting, prayer and reflection. Ramadan, one of the holiest periods in...

Filipino startups step up, harness the power of tech to help combat COVID-19

The impact of COVID-19 left many businesses navigating the digital space. Some are caught off guard while others utilize their expertise in technology. Take...

5 tips to help startups and SMEs navigate the COVID-19 pandemic

From handling resources to projecting for the future, industry experts share how startups and SMEs can survive during the pandemic.

Inflation decelerates in April

Inflation continued to slow down in April as the decline in transport and the deceleration in other non-food commodities offset the faster price adjustments...

How to help your child cope with the COVID-19 crisis

By Hannah Mallorca Features Writer, The Philippine STAR As the world grapples with the COVID-19 pandemic, social structures, such as the family and educational institutions, are...

EDC’s carbon disclosure wins Bronze at Asia Sustainability Reporting Awards

Lopez-led geothermal leader Energy Development Corporation (EDC) has won a Bronze in the Asia’s Best Carbon Disclosure category at the 5th Asia Sustainability Reporting...

Manufacturing PMI falls to record low

FACTORY ACTIVITY slumped to a record low in April, as the extended lockdown continued to prevent manufacturers from operating at normal capacity.

Manufacturing purchasing managers’ index of select ASEAN economies, April (2020)

FACTORY ACTIVITY slumped to a record low in April, as the extended lockdown continued to prevent manufacturers from operating at normal capacity. Read the...

BSP allows banks to use excess capital

THE central bank is now allowing financial firms to tap their Basel III-mandated capital and liquidity buffers to mitigate the impact of the coronavirus disease 2019 (COVID-19) pandemic.

Gov’t hikes tariffs on imported oil, refined petroleum

PRESIDENT Rodrigo R. Duterte on Monday ordered the temporary increase in tariffs on imported crude oil and refined petroleum products, in order to fund the government’s coronavirus disease 2019 (COVID-19) relief measures.

Pandemic slams Asia’s factories; activity slumps to financial crisis lows

SYDNEY -- Asia’s factory activity was ravaged in April, business surveys showed on Monday, and the outlook dimmed further as government restrictions on movement to contain the coronavirus outbreak froze global production and slashed demand.

Rico Blanco assures that ‘This Too Shall Pass’

FILIPINO singer Rico Blanco has returned after a four-year hiatus with the single, “This Too Shall Pass,” a song meant to “help [people] deal with the uncertainty of the times,” according to a release.

DoJ, Senate back ABS-CBN operation

By Vann Marlo M. Villegas and Charmaine A. Tadalan, Reporters THE Department of Justice (DoJ) stood by its position that ABS-CBN Corp. can still operate...

Final Pitch gets a COVID-19 bent in new season

FOR its sixth season, business reality TV show The Final Pitch, is looking for “heroes” — non-profit organizations, start-ups, and innovators with “new solutions to address COVID-19 challenges” and need funding.
National Telecommunications Commission (NTC) logo

NTC mum on provisional authority to media company

THE legislative franchise of ABS-CBN Corp. expired on Monday with the National Telecommunications Commission (NTC) silent on the House of Representatives’ instruction to grant the broadcasting company a provisional authority to operate until the Congress decides on its franchise.