Home 2020 November 4

Daily Archives: November 4, 2020 | 9:00 pm

Peso nearly flat vs dollar on election

THE PESO inched up versus the dollar on Wednesday on data showing the country’s trade deficit narrowed in September and amid uncertainties on the results of the presidential election in the United States.
PSE BGC bells

Shares rally as markets await results of US vote

PHILIPPINE SHARES moved in step with the acceleration of global equities as investors kept a close watch on the United States (US) election results on Wednesday.

Duterte orders price ceiling on coronavirus testing kits

PRESIDENT Rodrigo Duterte on Wednesday ordered a price ceiling on coronavirus test kits after reports of overpricing.

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US would probably continue to check China, analysts say

THE UNITED States would probably continue to try to check China’s expansionist stance in the South China Sea even under a new president, though in a less aggressive way, political analysts said on Wednesday.

Gov’t urged to use anti-insurgency fund for typhoon-hit areas

LAWMAKERS on Wednesday urged the government to realign a large chunk of its anti-insurgency funds for the rehabilitation of communities battered by Typhoon Goni, locally named Rolly.

Nationwide round-up (11/04/20)

NATIONAL Security Adviser Hermogenes C. Esperon, Jr. on Wednesday said discussions on the South China Sea Code of Conduct is continuing and could be finalized by next year.

Regional Updates (11/04/20)

EIGHTEEN power transmission lines have yet to be restored from the impact of typhoon Rolly (international name: Goni), according to the National Grid Corporation of the Philippines (NGCP).

Co-op rice import clearances suspended pending DA probe

THE Department of Agriculture (DA) has suspended the rice import permit process for farm cooperatives and irrigators’ association on suspicion that some of them are serving as dummies for commercial traders.

MRT-3 ridership rises on increase in permitted capacity

THE Transportation department said the Metro Rail Transit Line 3 (MRT-3) hit its highest ridership levels since July on Tuesday at 104,346, after the authorities allowed the rail line to carry passengers at 30% capacity and as higher train speeds increased throughput.

DTI’s Lopez confident in manufacturing rebound

TRADE SECRETARY Ramon M. Lopez remains confident in the economic recovery despite weaker Philippine manufacturing in October, calling the decline a “pause” in momentum.
BoT treasury

Emerging markets seen avoiding funding crunch

EMERGING MARKETS will largely continue to have access to funding this year but their timid spending risks prolonging the collapse in demand, think tank Oxford Economics said.

Asia-Pacific forex buildup to support ratings — Fitch

THE buildup in gross international reserves (GIR) among Asia-Pacific economies will support their credit ratings, but at the same time may result in currency appreciations, according to Fitch Ratings.

Beef cattle industry being developed in tobacco country 

THE National Tobacco Administration (NTA) said it is hoping to develop a beef cattle industry among tobacco growers with a P10-million program that will provide breeding animals to prospective cattle raisers.

Tax relief for losses and public school donations under Bayanihan II

Republic Act No. 11494, otherwise known as the Bayanihan to Recover as One Act (Bayanihan II), was signed by President Rodrigo R. Duterte on Sept. 11. It contains the government’s second wave of relief measures to address the health and economic crises stemming from the COVID-19 outbreak. Such measures include tax relief or provisions to ease the burden on taxpayers, two of which I will be discussing below.

Trump falsely claims victory but US election is too close to call

WILMINGTON, Del./WASHINGTON — President Donald Trump falsely claimed victory over Democratic rival Joe Biden on Wednesday with millions of votes still uncounted in a tight White House race that will not be resolved until a handful of states complete vote-counting over the next hours or days.

As Japan moves to revive countryside, pandemic chases many from cities

TOKYO — When the coronavirus outbreak caused rice and instant noodles to disappear from supermarket shelves in Tokyo this year, Kaoru Okada, 36, decided to leave the capital because he was worried about food security.

Wall Street frets as US presidential election is too close to call

NEW YORK — Wall Street and financial industry executives urged caution overnight as no clear winner emerged in the hours after polls closed in the 2020 US presidential election, threatening a drawn-out count that keeps markets and businesses hanging.

A COVID vaccine is the next tourist attraction

COVID-19 (coronavirus disease 2019) has brought so many new and difficult choices into people’s lives, and now there is another one, particularly for well-to-do Americans: If a vaccine were not yet available in the US, would you fly to another country to get it?

Renewable recycling

It is never the intention of governments to actually pollute the Earth. On the contrary, they enact and enforce laws that aim to protect the environment. However, even in their pursuit of sustainable growth, at times, there are missing steps and unintended consequences. Policies paving the way for the shift to renewable energy provides a number of examples of this.

Trade, stock markets and indefinite lockdown

The Philippines is now into eight months of indefinite, no timetable lockdown since mid-March. The adverse impact on the economy and people’s livelihood is also indefinite. Estimates of the country’s GDP contraction this year range from -6% to -9.5%. At this rate, with this very low economic base in 2020, we need to grow by at least 10% in 2021 just to be at the economic level of 2019.

Also in the photo

PHOTOS highlight the importance of an event (or pseudo-event) by recording those who attended it. Business tycoons, triumphant politicians, and TV celebrities, moving out and moving in, get into the picture. Often, there is a less glittery crowd that also manages to join (usually running) the group — wait for me.

Customer experience and convenience matter most to consumers — report

Ninety-one percent of Filipino consumers say that their customer experience is as important as the company’s products and services, according to “State of the Connected Customer 2020,” a report by customer relationship management (CRM) firm Salesforce released on October 29.

NLEX scores back-to-back wins

THE NLEX Road Warriors chalked up back-to-back victories in the PBA Philippine Cup after defeating the Rain or Shine Elasto Painters, 94-74, in the opening game of a quadruple-header offering on Wednesday at the Angeles University gym in Pampanga.

Rolando ‘Dy Incredible’ Dy in Brave lightweight title eliminator fight

MIXED martial arts fighter Rolando “Dy Incredible” Dy of the Philippines treks back to the Brave Combat Federation stage today in a lightweight title eliminator fight against New Zealand’s John “Trouble” Brewin.

PFL: Stallion-Laguna FC underscores need to ‘follow the process’ to better compete

STILL finding its traction in the ongoing season of the Philippines Football League (PFL), Stallion-Laguna FC underscored the need for the team to “follow the process” from training to better compete in the two-week-long tournament.

NU Lady Bulldogs on board Milo’s Home Court Campaign

MILO’S Home Court Campaign has added the National University (NU) women’s basketball team to its roster of inspiring athletes.

Superb Jota hat-trick helps Liverpool thrash Atalanta

BERGAMO, Italy — Liverpool striker Diogo Jota netted his first hat-trick for the club as they thrashed Atalanta 5-0 with a blistering performance in the Champions League on Tuesday to go five points clear at the top of Group D after three straight wins.

NFL broadens face-covering requirements, enhances COVID-19 protocols

THE National Football League (NFL) is enhancing its COVID-19 safety protocols, instructing teams to broaden the use of face coverings and improve social distancing after more players tested positive for the novel coronavirus.

Tiu keeps Marinduque Online Chess title

SHERWIN Tiu won the 2nd Marinduque Online Chess Tournament last Oct. 30, 2020 at lichess.org.

Campos, Aquino top online chess tournament

FORMER Rizal Technological University chess team mainstay Eduardo Campos Jr. of Caloocan City showed his class by topping the competition in the Jerickpogi Bullet online chess tournament under Knighthood Chess Club Romblon in cooperation with España Chess Club Manila and I Love Chess Philippines in an one hour 30 minutes of play on Monday (Nov. 2) at lichess.org.

Why MBA? Helping women to break the glass ceiling

NEW YORK — Elissa Sangster counts herself fortunate to have had early mentors who pushed to empower and promote women around them.

It’s more than a ribbon: The Estée Lauder companies introduces its 2020 breast cancer...

The Campaign continues its global call to action, #TimeToEndBreastCancer, and inspires hope Around the world, we are experiencing challenging times as a result of the...

#SavePornhub: Thailand’s online porn ban prompts backlash

BANGKOK — Thailand’s government said on Tuesday it had banned Pornhub and 190 other websites showing pornography, prompting social media anger over censorship, and a protest against the decision.

Bahrain latest country to vaccinate frontline workers with COVID-19 shot

DUBAI — Bahrain has started inoculating frontline workers with a Chinese COVID-19 vaccine, state news agency BNA said on Tuesday, the latest country to take the unusual step of granting emergency approval for a shot before finishing safety and efficacy tests.

Trade gap shrinks as import fall slows, exports recover

LATEST TRADE growth data showed exports snapped a six-month losing streak in September, while imports declined, albeit at a slower pace that same month. Merchandise...

Johnson & Johnson fails to overturn $2.12B baby powder verdict, plans Supreme Court appeal

Missouri’s highest court on Tuesday refused to consider Johnson & Johnson’s (J&J) appeal of a $2.12 billion damages award to women who blamed their...

China slams the brakes on Ant Group’s $37 billion listing

HONG KONG/NEW YORK — China suspended Ant Group’s $37 billion listing on Tuesday, thwarting the world’s largest stock market debut with just days to...

Typhoon Rolly death toll climbs to 24; infra damage at P5.76B

THE DEATH toll from typhoon Rolly (international name: Goni), the world’s strongest typhoon so far this year, has climbed to 24 while 26 others were injured and five remain missing, according to the latest report from the Philippine National Police.

October manufacturing index falls

PHILIPPINE MANUFACTURING data worsened in October as demand remained weak and job cuts persisted amid a coronavirus pandemic, according to a survey by British information provider IHS Markit Ltd.

Manufacturing purchasing managers’ index of select ASEAN economies, October (2020)

PHILIPPINE MANUFACTURING data worsened in October as demand remained weak and job cuts persisted amid a coronavirus pandemic, according to a survey by British information provider IHS Markit Ltd.

Bureau of Customs beats October revenue collection goal

THE BUREAU OF CUSTOMS (BoC) again exceeded its collection goal in October due to improved valuation and higher import volume, beating for the fifth straight month its goal that had been slashed several times on a grim economic outlook.

Maynilad waives rate increase for metro customers next year

MAYNILAD Water Services, Inc. on Tuesday said it won’t increase rates next year to help ease the economic burden felt by its customers amid a coronavirus pandemic.

Coronavirus pandemic pushes millennials to home ownership

MAE E. DIZON (not her real name), 24, bought a P2-million house and lot in Cavite province at the height of the coronavirus pandemic in June as an investment after getting a hefty performance bonus from her company.

Petron swings to profit on retailing margins

PETRON Corp. returned to profitability in the third quarter and posted a P1.63 billion consolidated net income, which the country’s largest oil refining and marketing company said was largely driven by retailing margins.

Century Pacific Food eyes 20% higher earnings in 2020

CENTURY Pacific Food, Inc. (CNPF) is expecting a 20% increase in profits for 2020 as it continues to record double-digit growth in the third quarter on sustained demand for its meat and milk products.