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Daily Archives: November 1, 2020 | 7:21 pm

Key legislator backs new round of aid, more ‘universal’ coverage

THE GOVERNMENT needs to prepare another round of direct cash transfers, which should be more “universal” than previous rounds targeting vulnerable communities, due to the lingering effects of the pandemic, a senior legislator said over the weekend. 

Moratorium on coal-fired power seen improving PHL’s energy security

THE Department of Energy’s (DoE) recent ban on new coal power plants will improve energy security by accelerating the development of other types of generating plants, affording the grid a measure of sourcing flexibility without major disruption, according to an academic from the University of the Philippines.
PCSO

PCSO disqualifies small-town lottery licensees with previous violations in latest version of IRR

THE Philippine Charity Sweepstakes Office (PCSO) has revised the implementing guidelines governing small-town lotteries (STLs), disqualifying operators who were found to have violated the terms of their licenses or those still owing money to the agency.

September subsidies to gov’t corporations fall

BUDGET SUPPORT to state-owned companies dropped 88% in September, with the National Irrigation Administration (NIA) and Bases Conversion and Development Authority (BCDA) receiving the biggest amounts, the Bureau of the Treasury said.


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PFRS 9 expected credit losses: How can banks apply pre-pandemic models?

The pandemic has created disruptions affecting industries at a global scale. As an offshoot, we have seen unprecedented levels of government relief measures to help curb the pandemic’s economic impact. The pandemic and the subsequent government actions to aid borrowers on their loan payments, have, in turn, affected how banks apply their Expected Credit Loss (ECL) models under PFRS 9 Financial Instruments, which had been developed prior to the pandemic.

Super Typhoon Goni weakens; new storm in

SUPER Typhoon Goni, the world’s most powerful tropical cyclone this year, weakened after making two landfalls in the Bicol region in eastern Philippines on Sunday, according to the state weather bureau.

COVID-19 infections top 383,000; death tally at 7,238 — DoH

THE DEPARTMENT of Health (DoH) reported 2,396 coronavirus infections on Sunday, bringing the total to 383,113.

Gyms, other services allowed to operate at 75% capacity — DTI

GYMS, internet cafes, and testing centers have been allowed to increase operating capacities starting Nov. 1, as Metro Manila and six other areas were kept under a general lockdown.

Nationwide round-up (11/01/20)

P3-B aid set for distribution to tourism workers THE LABOR and Tourism departments have inked a memorandum for the distribution of over P3 billion to...

Regional Updates (11/01/20)

Lahar mudflow from Mayon Volcano triggered by rains brought by typhoon Rolly partially bury some houses in a village in Guinobatan, Albay.

The perfect storm: Why the Philippines faces prolonged economic pain

The country faces a perfect storm leading to prolonged economic pain. Yes, not a V-shaped recovery as a government spokesmen would like us to believe, but more like an L, with just a slightly elevated but elongated leg (the slight elevation coming more from base effects rather than real recovery).

Building a resilient community through an inclusive local economy

In an effort to address the years of stagnation of the rice sector, the Rice Tariffication Law (RTL) was signed into law on Feb. 14, 2020. The RTL should increase the rice competitiveness of the Philippines and improve the rice farmers’ well-being.

On health and physicality

Like many professionals, the seven months in quarantine pushed me to reassess my values. I realized that the accumulation of wealth and the consolidation of power does not define success — neither does recognition nor fame. In the end, it is our relationships, our health, and our wellbeing that matters. I realize that this may read like a cliché, but it does not make it less true.

PBA set to resume action after fine-tuning safety protocols

FOLLOWING a brief pause to its ongoing tournament to fine-tune health and safety protocols, the Philippine Basketball Association (PBA) will resume action on Tuesday at the Angeles University Foundation in Pampanga.

Folayang’s reascent push takes a hit with latest loss

VETERAN Filipino mixed martial arts star Eduard “Landslide” Folayang’s thrust to go back to the sport’s mountaintop at this stage of his career took a blow when he absorbed a unanimous decision loss to Australian Antonio ‘The Spartan” Caruso on Friday at ONE Championship’s “Inside The Matrix” event in Singapore.

Relief, gratitude after success of Chooks-to-Go 3×3 season

THE 2020 Chooks-to-Go 3x3 Pilipinas season drew to a successful conclusion on Friday at the INSPIRE Sports Academy in Calamba, Laguna, leaving organizers relieved and grateful for being able to pull it off despite the myriad of challenges.

F1 confident of completing season despite lockdowns

LONDON — Formula One (F1) teams are confident the 2020 season will be completed safely despite countries going into lockdown to combat the coronavirus pandemic.

Guardiola rules out Camp Nou return

BENGALURU — Manchester City boss Pep Guardiola on Saturday reiterated his desire to stay with the Premier League club and ruled out a potential return to his former club Barcelona when his contract expires at the end of the season.

Thiem to skip Paris Masters; Halep tests positive for COVID-19

MUMBAI — Austrian Dominic Thiem has joined world number one Novak Djokovic in pulling out of this week’s Paris Masters after struggling with blisters in his foot during the Vienna Open.

Redemption

No one involved in the Tigers’ hiring of A.J. Hinch as manager was likely aware of the symbolism, but there it was, anyway. Three days after the end of his unprecedented season-long suspension from any and all activities relating to Major League Baseball, he found himself back in the thick of things. That the highest echelons of the sport couldn’t wait to take him back despite his inability to stop his charges from desecrating its integrity during his time with the Astros speaks volumes of his singular value in game management. After all, he did earn a championship and come to within a game of making it two out of two in the World Series, bowing in the rubber match before being banned.

England enters second lockdown

LONDON — Prime Minister Boris Johnson ordered England back into a national lockdown after the United Kingdom passed the milestone of one million coronavirus disease 2019 (COVID-19) cases and a second wave of infections threatened to overwhelm the health service.

US economic inequality widens amid COVID-19

WHEN the temperature dipped near freezing in Columbus, Ohio in mid-October, the children had no heat. The gas had been shut off in their apartment for nonpayment. DaMir Coleman, 8, and his brother, KyMir, 4, warmed themselves in front of the electric oven.

Berlin’s $7-billion airport finally opens during crisis

BERLIN’s new airport finally opened its doors this weekend, welcoming passengers after an eight-year delay just as fallout from the coronavirus hammers travel demand.

Travelers to New York must quarantine for three days, then get coronavirus test

NEW YORK — Most people arriving in New York state must quarantine for at least three full days before taking a coronavirus test, Governor Andrew Cuomo announced on Saturday as he overhauled one of the strictest quarantine regimes for travelers in the United States. If that test comes back negative, the traveler can leave quarantine.
Dog-pet-grooming

Shoe shopping and dog grooming: French town flouts lockdown rules

PARIS — Some small shops and services, including a dog grooming salon, remained open on Saturday in a small town outside Paris with support from their local mayor, amid signs of sporadic pushback against a new coronavirus lockdown in France.

China local authority warns of coronavirus on packaging of imported Brazilian pork

BEIJING — Packaging on a batch of frozen pork imported from Brazil which had entered a district in Eastern China’s Shandong province has tested...

Super typhoon Goni slams into Philippines, makes two landfalls

A super typhoon barrelled into the southern part of the Philippines’ main island of Luzon on Sunday, bringing “catastrophic” violent winds and intense rains...