Home 2020 May 14

Daily Archives: May 14, 2020 | 9:00 pm

Peso weakens vs dollar on Fed comments

THE PESO succumbed to the greenback on Thursday as investors sought safer havens after officials said the US economy will likely see prolonged weakness due to the coronavirus disease 2019 (COVID-19) pandemic.

PHL shares rise amid decline in global markets

PHILIPPINE SHARES bounced back yesterday as investors turned to the local market amid the decline in regional and global equities.

PHL spending half of what’s needed on vulnerable — Nomura

THE Philippines needs to double its aid to vulnerable members of the population after the lockdown strategy for containing the pandemic disrupted their earning capacity, Nomura Global Markets Research said.

SMC to resume construction work on Skyway extension

SAN MIGUEL CORP. (SMC) said Thursday that construction of the Skyway extension at the South Luzon Expressway (SLEx) will resume today, May 15.

DPWH resumes work on NCR flagship projects

THE DEPARTMENT of Public Works and Highways (DPWH) said Thursday that it resumed work on government flagship projects in Metro Manila.

NWRB hikes water allocation for NCR

THE National Water Resources Board (NWRB) has increased the raw water allocation of the Metropolitan Waterworks and Sewerage System (MWSS) starting May 14 until the end of the month.

Energy department proposes fuel discounts to aid agricultural sector

THE Department of Energy has proposed fuel discounts or subsidies for the agriculture sector to help it achieve food security for the Philippines.
cell tower

DICT asks local governments, homeowner groups to help expedite cell site rollout

THE Department of Information and Communications Technology (DICT) on Thursday appealed to local government units (LGUs) and homeowner associations (HoAs) to simplify their permit procedures for telecommunications companies erecting cell sites.
rice farmers

Palay farmgate price rises 0.76% in late April

THE average farmgate price of palay, or unmilled rice, rose 0.76% week-on-week to P18.66 per kilogram in the fourth week of April, with prices rising 1.41% year-on-year, according to the Philippine Statistics Authority (PSA).

Filipinos allowed again to work overseas as lockdowns eased

THE government has lifted the ban on Filipino deployment for jobs overseas as part of easing the lockdown imposed on key cities and regions.

Typhoon Ambo batters Samar provinces as it heads towards Luzon

TYPHOON Ambo made landfall over the town of San Policarpio in Eastern Samar at noon Thursday, “bringing violent winds and heavy to intense rains over the northern portion of Samar and the southern portion of Northern Samar,” weather bureau PAGASA reported.

Eastern Visayas cities: Ready to reopen

WHILE regular commercial flights and dine-in services will remain prohibited under the relaxed rules of the general community quarantine (GCQ) policy, facilities and establishments in the Eastern Visayas cities of Tacloban and Ormoc — both with no coronavirus disease 2019 (COVID-19) case recorded — are ready to resume operations with adjustments in observance of health safety protocols.

#COVID-19 Regional Updates (05/14/20)

THE National Bureau of Investigation (NBI) charged three barangay officials in Hagonoy, Bulacan with graft and corruption over anomalies in the distribution of the government’s cash aid for low-income families affected by the lockdown due to the coronavirus disease 2019 outbreak.

Nationwide round-up

THE liquor industry has been given the greenlight to resume operations under the modified enhanced community quarantine (MECQ) and the general community quarantine (GCQ) classifications, but the national alcohol ban remains in place with discretion given to local government units (LGUs).

Firming up visions with coherence and strategy

In response to the COVID19 pandemic, Vietnam locked down for three weeks. The Vietnamese started much earlier than we did and quickly supported its lockdown with the fortification of its health sector. Reuters recently reported: “Vietnam was successful because it made early, decisive moves to restrict travel into the country, put tens of thousands of people into quarantine and quickly scaled up the use of tests and a system to track down people who might have been exposed to the virus.”

Information lockdown

Mixed reactions have met the National Telecommunications Commission’s “cease and desist” order stopping the operations of television and radio network ABS-CBN.

No easy days

There’s this memorable scene in Escape to Victory where Pele’s character needed to leave the pitch due to a brutal tackle. Rather than substitute him, with the team down four-nil, the coach (played by Michael Caine) decided to play with only 10 men. Hearing this, one of Pele’s teammates muttered wryly: “This isn’t going to be easy.”

Filipino Heritage innovations

May is the month we celebrate National Heritage. But this year is unusual and haunting in our lifetime. People will have to strive hard, survive and find the means to fight the unseen enemy. The traditional festivals that happen around the country have been canceled. Due to the pandemic lockdown, National Heritage Month’s promotions, announcements, events, conferences, competitions and all programs, events and activities are online.

Heat’s Spoelstra grateful how career shaped up

MIAMI HEAT head coach Erik Spoelstra has been with the organization for more than two decades now and it is a choice that he is very grateful for as it led to a very fulfilling and successful coaching career.

Schumacher wins fan vote for F1’s most influential person

LONDON -- Seven-time world champion Michael Schumacher has been named the most influential person in Formula One history after a vote by fans on the sport’s official Website.
NCAA logo

NCAA Season 96 hosting duties turned over

AMID the uncertainty brought about by the coronavirus disease 2019 (COVID-19) pandemic, the offseason National Collegiate Athletic Association ceremony of turning over hosting duties was successfully done this week.

UFC holds another live event; Teixeira, Rothwell win

THE ULTIMATE Fighting Championship staged the second of a scheduled three events in eight days on Thursday (Manila time) with veteran light heavyweight Glover Teixeira and heavyweight Ben Rothwell emerging victorious.

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NBPA poll

The National Basketball Players Association denied the other day that it asked members if they want “to try and play again this season.” Its statement, coming within hours of ESPN scribe Adrian Wojnarowski’s tweet disclosing the “yes or no” query its regional representatives supposedly sent its ranks via text messages, was, however, notable for construction. “The NBPA is not engaging in and has not authorized any formal poll of its players,” it said. Which is to say it could have engaged its constituency exactly as reported: in an informal, non-scientific manner.

How Bunch is bringing gamers together during COVID-19

Bunch on bringing people together through games during the pandemic

Facebook invests $2M in support of Asia-Pacific newsrooms

Communities rely on news outfits to stay safe and informed. Facebook is helping these organizations stay afloat during the pandemic through a $2 million investment.

Modified ECQ until May 31 for NCR, Laguna, Cebu City – Palace

By Argie C. Aguja Senior Features Writer, The Philippine STAR A “modified” enhanced community quarantine (MECQ) will be enforced over the entire National Capital Region (NCR),...

COVID-19 pandemic may give Asia-Pacific’s oceans a chance to recover, highlights new UN report

Bangkok (ESCAP news) – The well-being of oceans in the Asia-Pacific region are edging closer to a tipping point due to the unprecedented pace of marine...

Is natural gas a good investment?

As worldwide demand for energy continues to rise on pace with the expanding global economy, several measures aimed to reduce greenhouse gas emissions have...

Roxas Holdings, Inc. sets stockholders’ meeting via remote communication

Please be advised that the Annual Meeting of the stockholders of Roxas Holdings, Inc. for the year 2020 will be conducted by remote communication...

GDP contraction seen to deepen

THE Philippine economy may now contract by as much as 3.2% this year, the government said on Wednesday, as the coronavirus disease 2019 (COVID-19) outbreak pummels investments and domestic demand.

Electronics exporters appeal lockdown extension

ELECTRONICS exporters are appealing the government’s decision to extend the strict lockdown in Laguna, citing up to $20 million in business losses for the sector each month.
PSE BGC bells

Stock market may retest lows amid virus crisis

THE stock market may retest lows in the coming months as the full extent of the economic fallout from the coronavirus disease 2019 (COVID-19) pandemic has yet to be seen.

Mining firms can start full operations under GCQ

MINING COMPANIES will be allowed to resume operations at full capacity as long as they follow strict safety guidelines, after the national government began relaxing quarantine restrictions around the country.

House approves ABS-CBN provisional franchise on second reading

A BILL seeking to provide a provisional franchise to ABS-CBN Corp. until Oct. 31, 2020 was approved on second reading on Wednesday, the same day it was filed.

Ayala Corp. income down 17% as lockdown hits businesses

EARNINGS of Ayala Corp. (AC) dropped 17% to P6.7 billion in the first quarter as the coronavirus pandemic dragged its property, banking and industrial segments.

Aboitiz arm prepares for airport projects, nat’l ID

ABOITIZ InfraCapital, Inc. on Wednesday said it is ready to resume discussions with the government on various airport projects and the National Identification Card (ID) system once the community quarantine is lifted.

AC Energy unit turns profitable as power sales jump

THE Philippine unit of Ayala-led AC Energy, Inc. saw its attributable income in the first quarter went up to P306.94 million, compared to a loss of P145.27 million in the same quarter in 2019, on the back of after-tax income growth with a spike in electricity sales revenue.

RFM earnings slip on lower ice cream, flour sales

FOOD and beverage manufacturer RFM Corp. posted 4% lower earnings in the first quarter due to a decline in sales from its ice cream and institutional food product segments.

Local airlines cancel commercial flights until May 31

PHILIPPINE Airlines (PAL), Cebu Pacific, Cebgo and Philippines AirAsia on Wednesday announced the extension of the suspension of their commercial flights until May 31.

Bringing life to broken parts

BROKEN bits of fishing boats drift on the sea before making landfall on the beach in Panglao, Bohol. The bangka are used for transportation between islands, by fishermen, and people taking leisure trips. As time goes by, parts of the fishing boats wear out and come off, some after rainy season storms.

China’s gamers use code to enter virtual world

HONG KONG -- Chinese fans of Nintendo’s Animal Crossing: New Horizons are paying a premium on foreign consoles and finding ways to skirt limits imposed by local regulators on a game that has become both a breakout worldwide hit and political flashpoint.

WFH during the ECQ: RCBC’s Mike Ricafort and UnionBank’s Carlo Asuncion

While healthcare workers are on the frontlines and scientists are busy testing possible vaccines or cures for a virus that has changed the world, economists are getting their hands dirty at home as well. They are rigidly working with data to assess how this pandemic could change the course of our economy, updating their projections and recommendations to help seal that soft landing when recovery comes.
Phoenix Petroleum logo

Phoenix starts fuel delivery to small firms

PHOENIX Petroleum Philippines, Inc. (Phoenix) started delivering its fuel products directly to small and medium enterprises as part of its business adjustment during the global pandemic.

Kumu gears up for next funding round as lockdown measures boost its business

LIVESTREAMING app Kumu is preparing for its next fundraising after seeing user and live-streaming growth since the start of the enhanced community quarantine (ECQ) in Luzon.

Toyota Motor boosts maintenance services

TOYOTA Motor Philippines Corp. (TMP) is prioritizing maintenance services while it awaits the recovery of new vehicle demand after the enhanced community quarantine (ECQ).