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Daily Archives: May 6, 2020 | 9:39 pm

Senate sees stimulus boosting 2021 budget to P5-T

THE Senate Committee on Finance said the 2021 spending plan will likely be a “stimulus budget” of about P5 trillion to revive the economy after the coronavirus disease 2019 (COVID-19) emergency.
Department of Finance (DoF)

DoF sees P1-trillion budget deficit, 5.3% of GDP

THE Department of Finance (DoF) is projecting a P1-trillion budget deficit this year, equivalent to about 5.3% of gross domestic product (GDP), as the spending requirements for the pandemic bring deficit norms into uncharted territory.

Slow, U-shaped recovery shaping up behind Q2 rout — FMIC, UA&P

THE recovery will be slow and U-shaped with the dismal performance of the economy extending into the second quarter, according to First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P).

New House bill calls for P1 trillion in stimulus spending

A BILL providing for a P1-trillion post-pandemic economic stimulus package was filed in the House Wednesday by Albay Representative Edcel C. Lagman.

March port revenues drop 79% on COVID-19 disruptions

REVENUE earned by ports nationwide fell 79% in March due to disruptions to the supply chain caused by the coronavirus disease 2019 (COVID-19) outbreak, the Philippine Ports Authority (PPA) said.

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Tax consequences of retrenchment due to COVID-19

The coronavirus disease 2019 (COVID-19) outbreak has significantly impacted the global economy and sent it into a slowdown. The Philippines is no exception.

Malaysia will be crucial to Asia’s COVID-19 damage control

ASIA has a new public emergency: breathing life into moribund economies.

Practical approaches

My friend Meniong, the late Negros Oriental governor and congressman Herminio G. Teves, would have been 100 years old on April 25. But it was not his fate to reach that milestone. It has been almost a year since he passed on last May 15, just 20 days after he celebrated his 99th birthday. It is in crucial times like now that I truly miss his practicality and old-age wisdom.

Growth lockdown and Solar sa Politika

Some countries and economies have released their first quarter (Q1) 2020 GDP growth data already and I compared the growth rate of those that imposed a hard lockdown with those that have no or a light lockdown. The result is interesting.

Feeling the pinch

ALREADY, our mind is on the post-quarantine scenario (already real in many places) now referred to as the “new normal.” There are designated winners (agribusiness, food manufacturing, furniture for social distancing) and losers (travel, cruise ships, oil, massage parlors).

Why I just volunteered for a COVID-19 vaccine trial

THE NOTION of testing COVID-19 vaccines by deliberately infecting volunteers with the novel coronavirus -- something that’s now on the table -- isn’t necessarily crazy or unethical. It’s smart, and it has benefits that far outweigh the risks.

Peso rises on trade data

THE PESO strengthened on Wednesday on profit taking and due to positive market sentiment following latest trade data and news of more easing of lockdowns across the world.
PSE bells

PSEi drops on cautiousness over US-China tensions

THE MAIN INDEX ended lower on Wednesday as general investor sentiment remained cautious over the brewing Sino-US tensions.
NAIA Terminal-3

Gov’t readies airport rules under new normal as cases top 10,000

THE government on Wednesday announced new rules for the so-called new normal at the country’s international and domestic airports, as the coronavirus infections topped 10,000.

Gov’t must continue vaccination program, says medical expert

THE GOVERNMENT should continue its immunization programs amid a Luzon-wide lockdown meant to contain a novel coronavirus pandemic, a medical expert said on Wednesday.
congress House of Representative

House to investigate delays in government cash aid distribution

THE House of Representatives will probe delays in the distribution of the government’s P200-billion cash aid to 18 million poor and near-poor households, a congressman said on Wednesday.

#COVID-19 Regional Updates (05/06/07)

CURFEW, shopping and entry passes, wearing of face mask, and checkpoints are among the rules that remain strictly in place in areas that have transitioned starting May 1 into the general community quarantine (GCQ), a government classification wherein restrictions are eased on public transport, business operations, and government offices.

Nationwide round-up

LOCKDOWN rules will only be eased after May 15 if the national government, along with local governments, will be able to expand testing capacity for the coronavirus disease 2019 (COVID-19).

Private and working life blurring into one due to COVID-19 – study

As social distancing measures become common and workers adjust to their new professional environments, even from their own living rooms, there is potential for...

Sports must brace for altered ways moving forward

THE CORONAVIRUS disease 2019 (COVID-19) pandemic has affected how Philippine sports affairs are to be conducted, not only for now, but also moving forward.

Mike Tyson back in shape as he considers charity exhibitions

BENGALURU -- Mike Tyson’s decision to return to training has been met with enthusiasm from fans and some fellow fighters after the release of a short video that shows the 53-year-old still has plenty of speed and power as he ponders boxing in exhibition bouts.

Tennis world commits over $6 million for COVID-19 player relief program

TORONTO -- Tennis’s governing bodies and the organizers of the four Grand Slams said on Tuesday they will raise over $6 million to help players affected by the sport’s current shutdown due to the COVID-19 pandemic.

Santé Barley triathlon team looking forward to IRONMAN event in Hawaii

SUCCESSFULLY topped triathlon events in the country this year, Santé Barley TriTeam, the official triathlon team of Santé, is now looking forward to doing well in the Vega IRONMAN World Championship in Kona, Hawaii, later this year.

2nd BUSINESSWORLD INSIGHTS: Understanding the new normal for businesses after the COVID crisis

https://www.youtube.com/watch?v=CMQor8Kui1U   Once the enhanced community quarantine is lifted, a “new normal” in the way people live and do business is expected to unfold. What exactly...

SM scholar alumna contributes in fight against COVID-19

Through the years, scholar-graduates of SM Foundation (SMFI) succeed in the fields and paths that they chose to take. And during these trying times,...

External trade plummets in March

PHILIPPINE international trade performance fell significantly in March as exports and imports of goods shrank to multi-year levels, the Philippine Statistics Authority (PSA) reported...

Dell EMC VxRail: Integrating the Future of Work Today

Dell EMC VxRail aims to become the standard in hyper-converged infrastructure The coronavirus pandemic has stunned the business community across the globe, forcing organizations to...

Nationwide round-up

UP TO 40,000 Filipino seafarers, including those who work on cruise ships, may not get rehired by their companies due to travel restrictions being imposed by the Philippine government in a bid to contain the spread of the coronavirus disease 2019 (COVID-19).

Rules eased to boost MSME lending

THE Bangko Sentral ng Pilipinas (BSP) is implementing measures that will allow banks to continue providing credit for micro, small, and medium-sized enterprises (MSMEs) that are struggling amid the coronavirus disease 2019 (COVID-19) pandemic.

Inflation slows to 5-month low in April

INFLATION slowed to a five-month low in April, as the decline in transport and the deceleration in other nonfood commodities offset the faster price adjustments in the heavily weighted food and non-alcoholic beverages, data from the Philippine Statistics Authority (PSA) showed.

Headline inflation rates in the Philippines (April 2020)

INFLATION slowed to a five-month low in April, as the decline in transport and the deceleration in other nonfood commodities offset the faster price...

Small firms seek support as lockdown continues

SOME small businesses are seeking more government assistance, such as utility subsidies and lower rental rates as they struggle to stay afloat amid the extended enhanced community quarantine (ECQ).

Factory production contracts in March

FACTORY OUTPUT contracted in March, dropping to its lowest reading in three months as the enhanced community quarantine (ECQ) implemented in mid-March halted economic activity in Luzon, the Philippine Statistics Authority (PSA) reported on Tuesday.

Duterte’s apology boosts Ayala, MPIC stocks

STOCKS in firms led by the Zobel brothers and Manuel V. Pangilinan surged on Tuesday after President Rodrigo R. Duterte’s apology for the “hurting words” he gave the companies in recent months.

ABS-CBN goes off the air after NTC order

THE National Telecommunications Commission (NTC) on Tuesday broke its silence on ABS-CBN Corp.’s fate by issuing a cease-and-desist order against the broadcasting company.
Pilipinas Shell

Pilipinas Shell to shut Batangas oil refinery for a month

PILIPINAS Shell Petroleum Corp. (PSPC) will suspend the operations of its Batangas oil refinery for a month starting May 15, citing the decline in demand for fuel products and falling refining margins during the lockdown.

D&L Industries earnings fall 31% as demand slips

LISTED company D&L Industries, Inc. posted a 31% decline in net income for the first quarter as demand for its high margin specialty products slid with the implementation of lockdown measures due to the coronavirus pandemic.

CCP reinvents ways of engaging audiences during hard times

THE Cultural Center of the Philippines (CCP) has been transitioning to the digital platform as live shows and programs have been suspended until the end of the year thanks to the COVID-19 pandemic.

IPO appetite seen dampened by pandemic worries

ANALYSTS believe initial public offerings (IPO) at this time are risky because of the volatility of the market and sensitivity of investor sentiments to the coronavirus disease 2019 (COVID-19) pandemic.

For Singapore’s T: >Works, the show must go on — online

THERE’S an adage in theater that no matter what, “the show must go on.” That is especially true — and challenging — in the time of a pandemic that prohibits any sort of gathering. For Singaporean theater company T:> Works, the focus is all about creating new works for the digital platform.

Globe income down 2%

THE first-quarter net income of Globe Telecom, Inc. declined 2% to P6.6 billion from P6.73 billion in the same period last year due to sustained increase in depreciation charges and a bigger share in affiliates’ losses.

Kominers’ Conundrums: There’s a puzzle hiding in this column

YOU’VE already unraveled brainteasers and played with words. This week’s Conundrum is a bit mysterious.

Treasury makes full award of 35-day papers as rates decline

THE GOVERNMENT fully awarded the Treasury bills (T-bills) it auctioned off on Tuesday for low rates as investors awash with cash continued to flock to safe-haven assets.

AgriNurture partners with gov’t for online market

LISTED agricultural firm AgriNurture, Inc. (ANI) has tied up with the Department of Agriculture (DA) as an official partner-participant under an online Kadiwa program.

Disney announces new Star Wars theatrical film directed by Taika Waititi

LOS ANGELES — Oscar-winning Jojo Rabbit screenwriter Taika Waititi will direct and co-write a new Star Wars feature film for theaters, Walt Disney Co. said on Monday.