Home 2020 November 2

Daily Archives: November 2, 2020 | 10:50 pm

Earnings reports, economic data to boost PSEi

PHILIPPINE SHARES may rise this week on the back of companies’ reports on their third quarter corporate earnings and the release of manufacturing and inflation data.

Further monetary stimulus may boost peso, push up bond yields

THE CENTRAL BANK may adjust monetary policy further to support the government’s limited fiscal space and strong balance of payments (BoP) position, Nomura said in a report, but this would result in loose liquidity, a stronger peso and slightly higher government bond yields.

BSP exploring supply chain financing for MSMEs

THE Bangko Sentral ng Pilipinas (BSP) is evaluating a plan to provide financing to micro-, small-, and medium-sized enterprises (MSMEs) that belong to the supply chains of larger firms, easing their collateral requirements by leveraging the superior credit profiles of their major customers.
Department of Finance (DoF)

Finance dep’t touts CREATE bill’s role in attracting investment for renewable energy

FINANCE SECRETARY Carlos G. Dominguez III said incentives offered in pending tax reform legislation could facilitate the attraction of investment in clean energy projects, which will go hand-in-hand with the government’s recent ban on new coal-fired power plants.

PHL, Indonesia seen as ASEAN’s COVID recovery laggards

THE ASEAN region is seeing some pockets of recovery but the overall picture is mixed with the Philippines and Indonesia the clear laggards in the region, according to Maybank Kim Eng.

Climate projects offered as path to unlocking investment

CLIMATE CHANGE mitigation projects will help attract foreign investment, starting with government-backed attempts to upgrade facilities to international standards, experts said.

EU, PHL trade meetings to resume soon

ECONOMIC COOPERATION and trade meetings between the Philippines and the European Union (EU) are set to continue before year’s end, the EU delegation said.

Building approvals flat in 2019

CONSTRUCTION starts as measured by building permit approvals declined slightly in 2019, the Philippine Statistics Authority reported in its final estimates for the indicator.

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Relief for resilient taxpayers

Someone once said, “Today is hard, tomorrow will be worse, but the day after tomorrow will be sunshine.”

At least 16 people die as Goni pummels eastern Philippines

AT LEAST 16 people died and three more went missing after the world’s strongest typhoon this year battered the Bicol region in eastern Philippines and several other provinces on Luzon island, according to the Office of Civil Defense.

COVID-19 infections top 385,00 as death toll reaches 7,269

THE DEPARTMENT of Health (DoH) reported 2,298 coronavirus infections on Monday, bringing the total to 385,400.

Typhoon Goni boosts Metro Manila’s water supply until yearend

METRO Manila’s water supply will be enough for the rest of the year after rains brought by Typhoon Rolly, according to the state weather bureau.

Nationwide round-up (11/02/20)

PRESIDENT RODRIGO R. Duterte on Monday conducted an aerial inspection of areas devastated by typhoon Rolly (international name: Goni), and made a stop at one of the hardest hit towns, Guinobatan, in Albay province.

Regional Updates (11/02/20)

AUTHORITIES IN Cagayan are on high alert for tropical storm Siony, with international name Atsani, which is on a path that will cross the province where some areas remain flooded due to rains from other recent typhoons.

Blackwater Elite return to action, take on San Miguel

THE Blackwater Elite return to PBA Philippine Cup action on Tuesday after a two-week break because of coronavirus concerns, taking on the defending champions San Miguel Beermen in the opener at 10 a.m. of a quadruple-header offering at the Angeles University Foundation Arena in Pampanga.

Maharlika FC seeks to sustain spirited PFL run

NEW Philippines Football League (PFL) team Maharlika Manila FC is out to sustain its spirited run in the ongoing league tournament, banking on a collective go-getting mindset.

No guarantees I will be in F1 next year, says Hamilton

SIX-TIME world champion Lewis Hamilton said on Sunday there were no guarantees he would be in Formula One (F1) next season.

ATP Finals continues plans for closed-door event in London

MUMBAI — The ATP Finals, the flagship event on the men’s tennis Tour, will continue preparations to be held without spectators in London this month, organizers said, following the announcement of a month-long lockdown in England starting this week.

Sixers sign Brand to multi-year extension

THE Philadelphia 76ers signed general manager Elton Brand to a multi-year contract extension, The Athletic reported on Sunday.

Mineski youth program arm successfully holds back-to-school campaign in October

MINESKI Philippines’ Youth Esports Program (YEP) successfully held its back-to-school campaign for the month of October, holding various activities designed to ignite the passion for gaming of students.

The positive driving force of FOMO

Prior to the pandemic, the Philippine apparel and footwear retail industry registered stellar sales, closing at P184.9 billion in 2019 (Euromonitor, 2020).

Public spending in agriculture: Is it enough?

In my recent piece entitled “Agriculture and Rural Push,” which was featured on Aug. 18 in BusinessWorld, I cited the factors why Philippine agriculture lags in the ASEAN in terms of productivity, diversification and exports. There are at least three main reasons:

Our coronavirus world is undernourished

BUMPER HARVESTS and healthy stockpiles coming into 2020 have helped the world dodge the worst of food-security worries triggered by the COVID-19 (coronavirus disease...

Trump casts doubt on integrity of prolonged count

ROME, Ga./PHILADELPHIA — President Donald Trump cast doubt on the integrity of the US election again on Sunday, saying a vote count that stretched past Election Day would be a “terrible thing” and suggesting his lawyers might get involved.

Europe’s COVID-19 cases double in 5 weeks

EUROPE’s new coronavirus disease 2019 (COVID-19) cases have doubled in five weeks, propelling the region on Sunday across the bleak milestone of 10 million total infections, according to a Reuters tally.

Tourism app promotes domestic travel amid the pandemic

The Department of Tourism (DOT) and the Tourism Promotions Board (TPB), in partnership with inclusion technology venture builder HIMO Global Inc., launched an application that helps tourists gather information about local destinations, carry documents conveniently, and travel safely amid the COVID-19 pandemic.

Unconscious bias makes it harder for women entrepreneurs to get funding

Unconscious bias puts women-backed businesses at a disadvantage when it comes to pitching and funding. 

These are the airlines teetering on the brink of COVID ruin

Having a home government with deep—and open—pockets is emerging as key in terms of whether an airline will make it through the coronavirus pandemic.

Britain’s Prince William contracted COVID-19 in April — media

Britain’s Prince William contracted COVID-19 in April at a similar time to his father Prince Charles, British media reported late on Sunday, citing Kensington...

Guidelines for COVID-19 tests for airline passengers could set global bar for reliability, sources...

MONTREAL/WASHINGTON — A global aviation manual now under review by a UN body suggests global guidelines calling for the use of highly reliable tests...

Britain starts accelerated review for AstraZeneca’s potential COVID-19 vaccine

AstraZeneca Plc said on Sunday Britain’s health regulator had started an accelerated review of its potential coronavirus vaccine.

Analysts’ October inflation rate estimates (2020)

INFLATION may have slightly picked up in October due to a rise in food prices and transport costs, as well as the impact of base effects.

Inflation seen slightly faster in Oct.

INFLATION may have slightly picked up in October due to a rise in food prices and transport costs, as well as the impact of base effects.

Foreign businessmen want concrete results from corruption probe

FOREIGN business groups are hoping to see concrete results from the Duterte administration’s new crackdown against corruption to increase investor confidence in the country.
construction workers infrastructure

Japan approves technical aid for four PHL infrastructure projects

THE Japanese government has approved ¥3.1 billion (P1.44 billion) worth of technical assistance for four infrastructure projects in the Philippines as it reaffirms its commitment to support the administration’s “Build, Build, Build” program.

Decline in home pre-sales seen to go on until 2021

PRE-SALES of residential homes will be down until next year as the pandemic’s impact on households is likely to persist before showing some signs of growth in 2022, an analyst at J.P. Morgan Securities Philippines, Inc. said.
SEC logo

SEC issues new warning against investing in Mining City

THE Securities and Exchange Commission (SEC) is warning the public that it has not given authority to a group named Mining City to solicit investments or offer securities in the Philippines.

Reflecting on the GR Supra

THE ONGOING pandemic has clearly not held Toyota back in its pursuit to seed and support motorsport enthusiasm among drivers. By now, you would have already heard of Toyota Motor Asia Pacific’s very first virtual motorsport racing championship in Asia, the GR Supra GT Cup Asia 2020, which engages participants from Thailand, Singapore, Malaysia, India, and, of course, the Philippines. Virtual racing has indeed become the next best thing for motorsports in this time of social distancing, and what better vehicle is there to enjoy e-driving than Toyota’s powerful, extremely well-balanced and agile sports car, the GR Supra?

Agriculture damage caused by Typhoon Quinta hits P2.2 billion

AGRICULTURAL damage caused by Typhoon Quinta (international name: Molave) has hit P2.20 billion, up from the previous estimate of P1.81 billion, according to the Department of Agriculture (DA).
Court of Tax Appeals (CTA)

Tax appeals court clears AsianLife-BIR compromise deal

THE Court of Tax Appeals (CTA) approved the compromise agreement between AsianLife and General Assurance Corp. and the Bureau of Internal Revenue (BIR) over its 2009 tax deficiency assessment.

Black is beautiful 

“BLACK maintains its edge because of its standard connotations of the sinister. Black conjures fear of the blind darkness of night and the eternal darkness of death; and in small, carefully flavored doses, such deliberate conjuring is always attractive,” Anne Hollander writes in Seeing Through Clothes in a segment devoted to the history and defense of black clothing.

T-bill, T-bond rates may inch up

THE RATES of the government securities on offer this week will likely increase ahead of the presidential election in the United States and as uncertainties linger due to the coronavirus disease 2019 (COVID-19).
pork butcher shop

Agriculture dep’t blames swine fever outbreak on rampant pork smuggling

AGRICULTURE Secretary William D. Dar said pork smuggling is to blame for the outbreak of African Swine Fever (ASF) in the Philippine hog industry.

MVP firms commit to 24-hour operations for Typhoon Rolly

THE so-called MVP Group — composed of listed companies PLDT Inc., Metro Pacific Investments Corp., and Manila Electric Co. (Meralco) and their respective subsidiaries — has committed to be on round-the-clock operations to prepare for the onslaught of Typhoon Rolly.

Start your search engines, here comes ‘MIAS Wired’

ORIGINALLY scheduled to ensue last April 2 to 5, this year’s Manila International Auto Show (MIAS) was sadly (but understandably) aborted due to the onslaught of the COVID-19 pandemic. This was a painful but necessary move to assure the safety of participants and attendees. “In light of the recent turn of events concerning COVID-19, which has led the Philippine government to declare a state of public health emergency, the management of Worldbex Services International has come to the decision to temporarily postpone MIAS 2020,” the show organizers had said in a statement.