Home 2020 May 12

Daily Archives: May 12, 2020 | 9:00 pm

PSE index closes lower on extended quarantine

THE MAIN INDEX closed in red territory yesterday as investor sentiment turned sour on the extension of the lockdown in Metro Manila, Laguna and Cebu City until the end of the month.

Peso slips vs dollar

THE PESO depreciated slightly against the greenback on Tuesday as investors await clarity on the lifting of lockdown measures and amid risk-off sentiment following new coronavirus disease 2019 (COVID-19) cases in some countries.

The duty to disclose and the right to privacy at the time of the...

With reports and narratives about discrimination and harassment of suspect, probable, and confirmed cases of coronavirus disease 2019 (COVID-19) -- including calls to make the personal information of these cases available to the general public -- circulating heavily since the government declared a state of public health emergency throughout the Philippines, it is imperative to know that Philippine laws provide adequate measures of protection against the unwarranted invasion of one’s right to privacy.

Pandemic meets geopolitics in the South China Sea

Historically, epidemics and pandemics have ravaged societies and civilization as they culled more human beings than natural disasters and armed conflicts combined. Along with natural calamities together with famines and hunger, major epidemics and pandemics have also intensified underlying and existing competitions and conflicts among human societies.

Endangered species may be yet another virus victim

SOCIAL DISTANCING may save human lives, but it’s wreaking havoc on some of the world’s most threatened species.

The trends that will shape Asian groceries ‘new normal’ — and how retailers can...

GROCERY RETAILERS around the world learned from Asia’s early experience confronting COVID-19. Now, Asian executive teams are at the forefront of the retail sector’s next challenge -- to accelerate into the recovery.

10-4: How to reopen the economy by exploiting the coronavirus’ weak spot

IF WE CANNOT resume economic activity without causing a resurgence of COVID-19 infections, we face a grim, unpredictable future of opening and closing schools and businesses.

Banks to decide case-to-case on loan extensions — BAP

BANKS will make their own decisions on loan relief depending on the circumstances, according to the Bankers Association of the Philippines (BAP), amid appeals from industry to extend the maturities on loans falling due this year.

House leadership files P1.5 trillion stimulus bill focused on infrastructure

HOUSE LEADERS filed a bill providing for a P1.5-trillion stimulus program over three years focused on infrastructure spending, which its authors deemed as an effective counter to job losses and slowing growth arising from the coronavirus disease 2019 (COVID-19) crisis.
Bureau of Internal Revenue (BIR)

BIR allows temporary receipts, invoices during lockdown

THE Bureau of Internal Revenue (BIR) said it will allow businesses to issue temporary receipts or invoices during the lockdown period.

PHL e-commerce market projected at $5–6 billion in five years — EY

THE E-COMMERCE MARKET is projected to grow to $5–6 billion within five years from the $1 billion in 2019, after having gained momentum during the current pandemic, a partner with Ernst & Young (EY) Singapore said.
rice farmer

Year-end rice supply projected at nearly 18 million MT, exceeding demand

THE end-of-year rice inventory has been projected at about 3.326 million MT based on supply estimates of 17.994 million MT, sufficient to cover demand of 14.668 million MT, the Department of Agriculture (DA) said.

Investment trusts welcome regulatory relief amid volatility

UNIT investment trust funds (UITF) are expecting volatile conditions as a result of the pandemic, and will be greatly aided by relief measures offered by regulators, an official with Pru Life UK Investments said.
Department of Agrarian Reform (DAR)

DAR allots P300 million to aid agrarian reform beneficiaries

THE Department of Agrarian Reform (DAR) has set aside P300 million to aid thousands of agrarian reform beneficiaries (ARBs) during the coronavirus disease 2019 (COVID-19) crisis.

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Not all losses go to waste

The COVID-19 pandemic is disrupting economies and societies worldwide. We are going through another global recession as business operations stood still for months in most parts of the world. Stock markets are down. Tourism and travel are almost nil. Schools are empty, while hospitals are overcrowded. Medical professionals struggle in saving lives, including their own. Employees are not allowed to go to work and are forced to rely on government subsidies to feed their families.

Opportunities, lessons for esports amid COVID-19

AS THE coronavirus disease 2019 (COVID-19) pandemic continues to be a growing concern it has affected various affairs, including those in the sporting world, which has been effectively put to a standstill.

MLB owners to present proposal to start season

LOS ANGELES -- Major League Baseball owners will present a proposal to players on Tuesday that will outline plans for the start of the coronavirus-hit 2020 season, a source close to the talks told Reuters on Monday.

Vettel reportedly leaving Ferrari at end of year

LONDON -- Four-time Formula One world champion Sebastian Vettel is set to quit Ferrari at the end of the year after contract talks broke down, German media reported late on Monday.

FIBA World Cup set for August–September 2023

THE next edition of the FIBA Basketball World Cup, where the Philippines will be one of the hosts, is happening from Aug. 25 to Sept. 10, 2023, the world governing body for the sport announced on Monday.

Jordan mindset

Little outside of the ultimate outcome could adequately explain away Michael Jordan’s singular abrasiveness throughout Episodes Seven and Eight of The Last Dance. Heading into the new week, much of the run-up to the release of the latest episodes of ESPN’s documentary series was devoted to underscoring the surprise -- shock, even -- of director Jason Hehir in the face of its principal protagonist’s willingness to be portrayed negatively. And if any further proof was needed to mark the behavior as abhorrent, it was in his pronounced disbelief that the best of the best in the sport allowed the inclusion of unflattering footage. Stripped to basics, his view was as much a unique selling proposition as an indictment of the truth.

Coronavirus cases hit 11,350, mostly in capital, nearby cities

CORONAVIRUS infections in the Philippines rose to 11,350 after the Department of Health reported 264 more infections on Tuesday, mostly in Metro Manila where a modified lockdown would be in place until May 30.

Philippines posts 58 new outbreaks of African swine fever

THE Philippines has reported 58 new African swine fever outbreaks on the main island of Luzon, culling 11,074 more pigs, according to the Bureau of Animal Industry.

Duterte offers P2M bounty for rebels

THE government of President Rodrigo R. Duterte has offered a P2-million bounty to anyone who can give information leading to the capture of communist rebels.

Typhoon Ambo likely to strengthen, make landfall Thursday in southern Bicol

TROPICAL depression Ambo is predicted to strengthen into a tropical storm before making landfall Thursday afternoon or early evening, weather bureau PAGASA reported on Tuesday.

#COVID-19 Regional Updates (05/12/20)

FINEX welcomes EDSA single bus route system as 1st step to efficient transport service
Department of Energy (DoE)

Nationwide round-up

AROUND a million Filipinos are seen to take part in the government’s plan to decongest the capital within the next six months.

Standard Chartered Bank donates PPEs to hospitals and treatment centers in NCR

Standard Chartered Bank (SCB), through its global COVID-19 fund aid, donates protective personal equipment (PPE) to help augment the limitedmedical suppliesin the country. In...

MAD Travel launches tree-planting crowdfunding platform for partner communities

With each purchase, participants are able to help provide income for some of the country’s marginalized communities.

Covid-19 accelerates digital transformation for companies

The Covid-19 pandemic is an unprecedented crisis - with tragic consequences for a lot. But it’s also been an opportunity to develop new solutions and new ways of working to thrive in this brave new world.

LRMC ramps up safety measures for operations restart

New guidelines for LRT-1 passengers Preparations are in full swing as the Light Rail Manila Corporation (LRMC) anticipates the resumption of the LRT-1 operations. This...

Budget deficit inches up in March

THE government’s budget deficit inched up in March as expenditures outpaced revenues, but the first-quarter gap narrowed due to slower spending due to the coronavirus disease 2019 (COVID-19) pandemic, the Bureau of the Treasury (BTr) reported on Monday.

Most companies shelve expansion plans — survey

MOST companies have put expansion and investment plans on hold due to the coronavirus disease 2019 (COVID-19) pandemic, according to a survey released by the Employers Confederation of the Philippines (ECoP).

Gov’t plans to import 300,000 MT of rice

THE PHILIPPINE government is seeking to import 300,000 metric tons (MT) of rice to boost stocks ahead of the lean harvest season in the third quarter.

Business group seeks longer loan extension

THE Philippine Chamber of Commerce and Industry (PCCI) is asking banks and other financial institutions to extend the loan maturities for at least a year, as businesses struggle to survive amid lockdown measures to contain the coronavirus pandemic.

National Government Fiscal Performance

THE government’s budget deficit inched up in March as expenditures outpaced revenues, but the first-quarter gap narrowed due to slower spending due to the...

SMC drops $2-billion Holcim acquisition

SAN MIGUEL Corp. (SMC) is terminating its $2.15-billion acquisition of Holcim Philippines, Inc. after failing to obtain clearance from the Philippine Competition Commission (PCC).

Ayala Land earnings fall 41% after Taal eruption, quarantine

PROFITS of Ayala Land, Inc. (ALI) dropped 41% to P4.3 billion in the first quarter, pulled by a slowdown in bookings and completions due to the Taal eruption in January and the enhanced community quarantine (ECQ) in March.

ABS-CBN not for sale; Dennis Uy not buying

ABS-CBN Corp. is not for sale, it reiterated on Monday, after Dennis A. Uy denied talk that he was looking to buy the franchise-less media company which is unable to broadcast since a government agency ordered its closure.

House to NTC: Explain ABS-CBN closure order

THE House legislative franchises committee ordered the National Telecommunications Commission (NTC) to explain why it should not be held in contempt for issuing a cease-and-desist order against ABS-CBN Corp.

The return of the cubicle? Firms rethink office life post lockdown

MILAN/LONDON -- Can creative sparks fly through plexiglass? Is the water cooler chat a thing of the past?

Airlines seek nearly P9-B monthly aid

AIRLINES in the Philippines are asking the Congress for P8.6 billion in monthly assistance to sustain operations while strict travel restrictions are in place due to the coronavirus disease 2019 (COVID-19) outbreak.

WFH during the ECQ: Timson’s Darren Pangan

AS the Philippine workforce has shifted into a work-from-home (WFH) dynamic to prevent the spread of the coronavirus disease 2019 (COVID-19) in the country, Darren Blaine T. Pangan, Head of Online Trading and Trader at Timson Securities, Inc., has been monitoring the local stock market and performing his day to day office duties from the safety of his home.

BusinessWorld Insights to focus on COVID-19, stock market

WHILE the coronavirus disease 2019 (COVID-19) continues to make a negative impact on the Philippine economy, it has also severely affected investor confidence and the stock market. Still, experts believe that there is a silver lining in this volatile situation.

Hagibis’ Sonny Parsons, 61

ACTOR and former Hagibis band member Jose Parsons Nabiula, Jr., better known by his stage name Sonny Parsons, died on May 10, at the age of 61, from a heart attack while riding his motorcycle.

Wilcon income down 32% on rising expenses

WILCON Depot, Inc. posted a 32% contraction in earnings in the first quarter, weighed down by higher operating expenses and the closure of stores in late March.