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Monthly Archives: November 2020

Quasi-lenders’ loan portfolio drops in 1st half

THE LENDING portfolio of nonbank financial institutions with quasi-banking functions (NBQBs) dropped in the first half of the year as players merged or gave up their licenses, an official from the Bangko Sentral ng Pilipinas (BSP) said.

Stocks may move sideways on bargain hunting

LOCAL SHARES are expected to move sideways this week as some investors may start bargain hunting after last week’s four-day decline.
construction workers

DPWH, not House revamp, blamed for realigned budget

THE Department of Public Works Highways (DPWH) was responsible for redistributing infrastructure spending items in the proposed 2021 national budget, a senior legislator said, rejecting claims that budget cuts targeted Representatives associated with the former House leadership.

Philippine consumer confidence lags region; WFH-enabled workers report more optimism

CONSUMER CONFIDENCE in an economic recovery is lower in the Philippines compared with elsewhere in Asia, McKinsey & Co. said, citing the results of a study.

PHL recovery to be hindered by Nov. typhoons

THE economy’s recovery will be hindered by the series of typhoons that hit during the fourth quarter, with fiscal and monetary measures necessary to provide support, S&P Global Ratings said.

Pandemic impact felt disproportionately by poor

THE PANDEMIC has hit poorer households in the Philippines harder than the rest of the population, affecting their income and food security disproportionately, according to the World Bank.

DENR orders bamboo planting along Cagayan River

ENVIRONMENT Secretary Roy A. Cimatu has ordered the planting of bamboo along the banks of the Cagayan River as an anti-flooding measure to prevent the recurrence of the floods that hit Cagayan and Isabela provinces during Typhoon Ulysses (international name: Vamco).


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CREATE Bill: An early Christmas gift?

With Christmas just a few weeks away, most of us are preparing decorations and buying presents despite the quarantine. This year’s holiday season will be much different from the past celebrations. Most businesses, particularly the micro, small and medium enterprises, which used to get their fair share of consumer spending, were forced to temporarily close and retrench employees due to the pandemic.

25M people may get vaccinated next year

THE DEPARTMENT of Health (DoH) plans to vaccinate as many as 25 million people against the coronavirus next year, the agency’s chief said on Monday.

Duterte keeps metro under general lockdown

President Rodrigo R. Duterte on Monday night extended the lockdown in Metro Manila and nearby provinces until year-end after health experts warned of a...
MRT-3

Operations at MRT-3 resume on Dec. 1 after major repairs

THE METRO Rail Transit Line 3 (MRT-3) will resume operations on Dec. 1 after repair works at the Taft section were completed, according to the Transportation department.

Malaria cases in West Pacific down by 43% since 2000, WHO says

MALARIA cases in the World Health Organization’s (WHO) Western Pacific region, which includes the Philippines, declined by 43% to 1.7 million last year from the year 2000, according to estimates by the group.

Nationwide round-up (11/30/20)

THE Trade Union Congress of the Philippines (TUCP) called on the government to expand its infrastructure program to help address unemployment resulting from the coronavirus pandemic.

Regional Updates (11/30/20)

THE Baguio City government is not abandoning its plan to reopen the Loakan Airport for commercial flights, City Mayor Benjamin B. Magalong said.

Forging collaborative pathways for a decarbonized and regenerative future — 1

It’s significant that you’re giving me this award exactly 20 years after MAP (the Management Association of the Philippines) conferred the same on my father, Oscar Lopez. No one has influenced me and what FPH (First Philippine Holdings Corp.) is today more than him: his values, discipline, love for nature, zest for learning, his passion for social justice and his zeal for health and wellness. He’s a man of few words and rarely ever displays his approval (only his disapproval, and on that we’d get an earful) but he led us powerfully through his simplicity and his example. I’m doubly honored today because he and my Mom are here remotely to share this moment with me.

Towards a gender-equal world: A mission for all

IN EARLY 2020, Awa had just turned 15 years old when she heard that her marriage was being arranged. Escaping it seemed difficult, but Awa found the courage to defy her father’s decision. Her small village in Mali had a committee for the prevention of early marriage, and she took her case to them. This body of respected people presented Awa’s father with all the arguments against early marriage, and managed to convince him. It is to help the cause of young girls like Awa that the European Union (EU) supports this committee and many other projects in this area around the world.

Meralco, QPPL and expensive solar-wind

In the ongoing woke culture, demonizing fossil fuels and some big corporations while glorifying big government intervention are very common. The lobby against fossil fuels (oil, coal, gas) is based on a confused and irrational belief that fossil fuels, especially coal, cause less rain and more rain, less floods and more floods, less cold and more cold. The lobby against some big corporations is driven by envy and the socialist dream of forced equality.

Reimagining the ‘Next Normal’ in Philippine business

What if big businesses were to make it their mission to address the leading social problems of the country? What if business leaders were to set the ethical tone from the top of their organizations and build corporate cultures that would make ethical business practice the norm and business scandals a thing of the past? What if business leaders were to have the empathy to know the needs of their customers, employees, and other stakeholders and take care of them accordingly? What if more business practitioners were to abandon the profit maximization mindset and, instead, aim for honoring human dignity and planetary sustainability while achieving their business goals?

Team effort leads to early series advantage for Kings

THE Barangay Ginebra San Miguel Kings took a 1-0 lead in their best-of-seven PBA Philippine Cup finals series over the TNT Tropang Giga following their 100-94 overtime victory in Game One on Sunday.

Former skeptic Grosjean praises halo after surviving fiery crash

MANAMA — Romain Grosjean credited the halo protection bar with saving his life in a fiery crash that ripped his car in two on the opening lap of the Bahrain Formula One (F1) Grand Prix on Sunday.

Pearl Managuelod pushes for resumption of athletes’ training

WITH THE battle smoke from the recent Philippine Olympic Committee (POC) elections now clear, newly elected executive board member Pearl Managuelod underscored the need to buckle down to work for the national athletes, including helping in having their training resume at the soonest possible time.

Herbalife Nutrition finding ways to bring fitness message across

WHILE the coronavirus pandemic and the corresponding protocols put up to guard against it have rendered people’s fitness regimen limited, they have not stopped Herbalife Nutrition from finding ways to bring the message of active and healthy lifestyle across.

Hornets announce Hayward sign-and-trade from Celtics

THE Charlotte Hornets announced on Sunday they have acquired forward Gordon Hayward in a sign-and-trade deal from the Boston Celtics.

Messi salutes Maradona as Barca trounces Osasuna

BARCELONA — Lionel Messi paid a personal tribute to the late Diego Maradona after scoring on Sunday as Barcelona returned to winning ways in La Liga with a resounding 4-0 home win over Osasuna.

Airlines face ‘mission of the century’ in shipping millions of doses of COVID vaccines

IN COOLED warehouses on the fringes of Frankfurt airport, Deutsche Lufthansa AG is preparing its depleted fleet for the gargantuan task of airlifting millions of doses of the vaccines meant to end the global pandemic.

Twitter suspends Thai royalist account linked to influence campaign

BANGKOK — Twitter has suspended a Thai pro-royalist account linked to the palace that a Reuters analysis found was connected to thousands of others created in recent weeks spreading posts in favor of King Maha Vajiralongkorn and the monarchy.

Trump to add China’s SMIC and CNOOC to defense blacklist

WASHINGTON — The Trump administration is poised to add China’s top chipmaker Semiconductor Manufacturing International Corp. (SMIC) and national offshore oil and gas producer China National Offshore Oil Corp. (CNOOC) to a blacklist of alleged Chinese military companies, according to a document and sources, curbing their access to US investors and escalating tensions with Beijing weeks before President-elect Joseph R. Biden takes office.

Catch-up spending seen to lift Q4 GDP

STATE AGENCIES will have to significantly ramp up spending in December to boost fourth-quarter gross domestic product (GDP), after the government continued to underspend amid the coronavirus pandemic.   

Cash aid for Filipinos to buy food also becomes avenue for corruption

LEO ANGELO V. SACAYAN, a 41-year-old sea-faring sous-chef from Malabon City, got P15,600 in government aid after coming home at the start of the year amid a global coronavirus pandemic.

PHL schools need new curriculum to boost talent competitiveness

THE Philippines should improve the education curriculum to boost competitiveness of its future workers, business leaders said.

AllHome sees improved sales as it adds stores

VILLAR-LED AllHome Corp. is looking at improved sales in the fourth quarter as it continues its store expansion in the Luzon region.

Naval Group hopes to help modernize PHL capabilities

FRANCE-BASED shipbuilder Naval Group is looking to open an office in Manila as part of its plan to help the country in improving its naval capabilities.

After 10 years, Jil Sander collaborates again with Uniqlo

JIL SANDER is back for a Uniqlo collaboration after almost 10 years after her last one. The German fashion designer best known for her stark lines and Euro-flavored minimalism, started collaborating with the Japanese clothing firm in 2009 after she opened a fashion consultancy. Uniqlo’s parent, Fast Retailing, signed on as its first client, coming up with a line called +J. The revived collaboration is now available in the Philippines.

T-bill, bond rates may inch up

THE RATES of Treasury bills and bonds on offer this week may end flat or inch higher amid improved economic prospects.

Uniqlo opens branches in Pasay, Parañaque, Zamboanga and Butuan

UNIQLO has opened a roadside store in Pasay City, and has plans to open in-mall stores in Parañaque, Zamboanga, and Butuan early next year.

Firms going digital amid pandemic

THE MARKET has seen an increase in smaller businesses amid the coronavirus pandemic, with most firms tapping digital platforms to reach their customers.

BoE’s Haldane sees inflation risks as countries bounce back

LONDON — Bank of England (BoE) Chief Economist Andy Haldane said inflation could rise by more than expected as progress on coronavirus disease 2019 (COVID-19) vaccines and huge amounts of stimulus raised the chances of a swift economic bounce-back.

Under Armour Sportsmask now available

EVEN athletes have to wear masks these days, so Under Armour (UA) has come out with the Under Armour Sportsmask, which is now available in the country in select Under Armour brand houses in the metro.
Court of Tax Appeals (CTA)

CTA cancels MCI’s P179-M tax assessment

THE COURT OF Tax Appeals has granted the petition of Marketing Convergence, Inc. (MCI) to cancel its tax assessment of P179.7 million for 2009.

Lexus IS sportier

THE TOYOTA Technical Center Shimoyama, situated in a mountainous region between Toyota City and Okazaki, has a central test course 5.3 kilometers long that features a 250-foot elevation change, lots of curves, and terrain types. The track draws inspiration from the Nürburgring Nordschleife, “which is famous throughout the world for its grueling driving conditions.”
palay

Rice seen fading as staple with higher incomes

THE PHILIPPINES’ dependence on rice as its leading staple food is expected to fade as incomes increase and diets are diversified, agriculture experts said.

Singer April Boy Regino, 51

THE ORIGINAL Pilipino Music (OPM) singer behind the hits “Di Ko Kayang Tanggapin” and “Paano Ang Puso Ko,” April Boy Regino died at the age of 51 on Nov. 29.

Meet the ‘pangolin pickup’

DID YOU have any idea that the Philippines has its own endemic species of pangolin? Well, we do — and it’s appropriately named the Philippine pangolin or Palawan pangolin (Manis culionensis) because, as the name obviously states, they live mostly in the islands of Palawan.

Returning OFWs targeted for agribusiness programs

FIVE government agencies have tied up to offer agribusiness training and support for repatriated overseas Filipino workers (OFWs).

Aboitiz Group’s contribution to government coronavirus response efforts reaches P2.2B

THE ABOITIZ GROUP’S contribution to the country’s coronavirus disease 2019 (COVID-19) response has reached over P2.2 billion, with the company being among the firms that first offered support to the government at the beginning of the pandemic.