Home 2020 November 5

Daily Archives: November 5, 2020 | 9:00 pm

Inflation data lift peso

THE PESO strengthened versus the dollar on Thursday as inflation inched up in October and amid early results of the United States presidential election.

PSEi hits 6,600 level, logs best finish since March

THE MAIN INDEX logged its best finish since March on Thursday as it extended its rally for a fourth consecutive day.

COVID-19 vaccine program may start in May

THE PHILIPPINE government is considering orders for 24 million units of coronavirus vaccines and may start inoculating Filipinos by May, according to the country’s vaccine czar.

SWS poll shows most Pinoys think they’re worse off

MAJORITY of Filipinos felt their quality of life worsened in the past year, with 82% identifying themselves as “losers” amid a coronavirus pandemic, according to the latest Social Weather Stations (SWS) poll.

Senator says Manila has more time to review ties with US

SUSPENDING the termination of a military pact with the US on the deployment of troops for war games will give the Philippines more time to review relations with its former colonizer, a senate leader said on Thursday.
Malacañang Palace

Nationwide round-up (11/05/20)

THERE is no need to realign the government’s anti-insurgency budget for next year to increase funding for disaster response, Malacañang Palace Spokesperson Harry L. Roque said on Thursday.

Regional Updates (11/05/20)

Batanes residents, known as Ivatans, are no stranger to strong typhoons and have a long tradition of preparing by boarding up their windows with shutters locally called tapangko, and tying up structures or what they call kapanpet.

BSP to start gathering data for small-business credit system

THE Bangko Sentral ng Pilipinas (BSP) said it will begin work this month compiling a credit risk database (CRD) that will help banks more easily evaluate the creditworthiness of small businesses and wean lenders away from requiring excessive collateral cover.

Small businesses seen playing key role in achieving SDGs

SMALL FIRMS have become more significant in the effort to achieve Sustainable Development Goals (SDGs) after the pandemic set back many of the gains of recent years, participants at the Sustainability Summit 2020 were told.

Bureau of Customs audits produce additional P1 billion in revenue

THE Bureau of Customs (BoC) said it generated an additional P1.035 billion in revenue in the 10 months to October after finding violations by importers in post-clearance audits.

China trade show target set lower for PHL delegation

THE PHILIPPINE delegation to a trade show in China is targeting $31 million in export deals this year, which would represent a drastic downgrade compared with the year-earlier result after a reduction in the size of its pavilion.

EU pledges P8.5 billion worth of grants for Mindanao agri, power

THE European Union (EU) will provide 150 million euros (P8.5 billion) worth of grants to support agricultural development in Mindanao and electricity projects for small island communities in the southern Philippines, the Department of Finance (DoF) said in a statement.

Bases authority rebids consulting services package of Subic-Clark Railway Project

THE Bases Conversion and Development Authority (BCDA) is rebidding the P1.5-billion consulting services package of the Subic-Clark Railway Project.

House majority backs priority for anti-corruption legislation

THE HOUSE majority leader said Thursday he endorsed an initial list of anti-corruption measures for possible inclusion in the chamber’s legislative agenda in support of President Rodrigo R. Duterte’s campaign against corruption.

Barangay Ginebra and TNT battle for Philippine Cup solo leadership

PACE-SETTING Barangay Ginebra San Miguel Kings and TNT Tropang Giga battle one another today for solo leadership in the PBA Philippine Cup.

Meralco tops ROS, 85-78; Magnolia rolls to third win in a row

The Meralco Bolts defeated the Rain or Shine Elasto Painters, 85-78, on Thursday at the Angeles University Foundation Arena in Pampanga to fan their top-four push in the PBA Philippine Cup.

POC: Monthly allowances of national athletes to revert back to normal amount

The monthly allowances of national athletes and coaches are expected to revert back to 100% — after they were slashed in half since July because of the coronavirus pandemic — starting next week, according to Philippine Olympic Committee (POC) President Abraham “Bambol” Tolentino.

Biden edges closer to White House as Trump mounts legal challenges

WASHINGTON — Democrat Joe Biden moved closer to victory in the US presidential race on Thursday as election officials tallied votes in the handful of states that will determine the outcome and protesters took to the streets.

Indonesia in recession for 1st time since 1998

JAKARTA — Indonesia fell into recession for the first time in over two decades in the third quarter as the coronavirus disease 2019 (COVID-19) pandemic battered consumption and business activity in Southeast Asia’s largest economy, official data showed on Thursday.

Denmark plans to cull its mink population after coronavirus mutation spreads to humans

COPENHAGEN — Denmark will cull its mink population of up to 17 million after a mutation of the coronavirus found in the animals spread to humans, the prime minister said on Wednesday.

Economic scars, once again: Reading the fine prints of pandemic mitigation

We all aspire for a strong economic recovery. But it is prudent to ensure we tie the loose ends in our fight against the virus. There are many challenges to growth after the lockdowns are eased; a near-normal path will not be an easy walk in the park when labor gets back to work. As Dr. Edsel Salvana warned, the virus doesn’t play by the rules. It continues to rewrite the rulebook.

At cross-purposes with itself

In 2016, then candidate Rodrigo Duterte promised to end corruption. That promise echoed that of his predecessor’s, Benigno Aquino III, whose 2010 campaign catchphrase was “Kung walang corrupt walang mahirap” (Without corruption, there would be no poverty).

Originalism: A review

For more than a decade now this column has been advocating for the recognition of “originalism” in our legal education and legal system. It is gratifying to see that such efforts are bearing fruit.

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Notes on the Ako Para Sa Bata Conference

This year, the pandemic has drastically disrupted and changed the lives of millions of children all over the world. It has threatened their well-being, health, safety, education. Family life and income, school closures, quarantine measures, and child protection systems have been severely affected. Children now face the long-term socio-economic and mental health impact brought by COVID-19.
Ninoy Aquino International Airport (NAIA)

China blocks travelers from virus-hit Philippines 

BEIJING — Mainland China has barred entry to non-Chinese visitors from Britain, Belgium, and the Philippines and demanded travelers from the United States, France, and Germany present results of additional health tests, as coronavirus cases rise around the world. 

Filipino Gonzales out to swing back to winning at ONE Championship

ONE Championship stages the second iteration of its “Inside The Matrix” event in Singapore today with Filipino flyweight Ramon Gonzales taking part and looking to make his way back to the winning track.

United City FC looks to solidify hold of top spot

UNITED City Football Club (FC) takes on Stallion-Laguna FC on Friday looking to solidify its hold of the top spot in the ongoing Philippines Football League (PFL) tournament.

Barcelona gets third win in a row but fails to convince against Dynamo

BARCELONA — Barcelona earned a far from convincing 2-1 win at home to a depleted Dynamo Kyiv on Wednesday as Lionel Messi scored a penalty for the third Champions League game in a row with the Spaniards maintaining their winning start to the group stage.

NBA close to Dec. 22 start date for 2020-21

THE National Basketball Players Association is close to a deal that would start the 2020-21 National Basktetball Association (NBA) season on Dec. 22 with a reduced schedule of 72 games per team, according to ESPN.

More than TDs on line for Brady’s Bucs, Brees’ Saints

TOM Brady and Drew Brees could change places yet again as the top two touchdown (TD) passers in NFL history.

NBA 2020-21 season

For a while there, it looked increasingly like the next season of the National Basketball Association (NBA) wouldn’t be taking off until after the new year. Considering that 22 teams, particularly those that went deep in the playoffs, endured a long, arduous stay inside a constricting bubble environment, the thought of extending the break beyond the holidays and close to Martin Luther King Day appeared both practical and symbolically significant. Once league officials and franchise owners took a closer look at the numbers, however, the prospect of moving the start prior to Christmas became not just more palatable, but necessary.

COVID-19 widened the gap between Internet haves and have-nots, Filipinos among negatively affected

The COVID-19 pandemic has widened the gap between those who benefit from the Internet and those who don’t, according to “New Internet Users in a COVID-19 World,” a study released by Google’s Next Billion Users initiative team on November 5.

Globe myBusiness launches #GiftLocal campaign to support local SMEs this Holiday season

For Filipinos, Christmas is all about giving. Buying gifts for family members and loved ones is a tradition and no matter how different this...

Delivery timetable of Oxford/AstraZeneca vaccine has slipped, UK official says

LONDON — The timetable for delivery of the Oxford University/AstraZeneca COVID-19 vaccine candidate has slipped and Britain will receive just 4 million doses of the shot this year, the head of the UK’s vaccine procurement program said on Wednesday.

NYC first responders have high COVID-19 rates; public surfaces may hold clues to virus...

The following is a roundup of some of the latest scientific studies on the novel coronavirus and efforts to find treatments and vaccines for COVID-19, the illness caused by the virus.

Trump or Biden, new US president faces troubled economy

It’s still not clear yet if the next US president will be incumbent Donald J. Trump or Democratic challenger Joseph R. Biden, but whoever triumphs will face monumental challenges on the economic front.

Investors welcome US election gridlock, retreat from ‘blue wave’ bets

NEW YORK — Investors who met news of likely gridlock in Washington with a large-scale unwind of bets on a Democratic sweep weighed prospects...

Oct. inflation fastest in three months

The overall year-on-year increase in prices of widely used goods picked up to its fastest pace in three months in October, the government reported...

Factory output extends slump to seventh straight month in September

The country's factory output contracted for the seventh straight month in September, the Philippine Statistics Authority (PSA) reported earlier this morning. Preliminary results of the...

Exports snap 6-month losing streak

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.

Philippine trade year-on-year performance (Sept. 2020)

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.

Infrastructure spending continues to fall in Sept.

STATE SPENDING on infrastructure plunged by 40% in September — the third straight month of decline — amid budget cuts and delays in construction activities due to ongoing quarantine restrictions.

Foreign firms told to disclose beneficial ownership

THE Securities and Exchange Commission (SEC) is requiring foreign corporations to disclose beneficial ownership information, as part of the government’s efforts to stop money laundering and terrorist financing.

Capital flows to Philippines seen to recover by 2021

FOREIGN INVESTMENTS into the Philippines may return to pre-pandemic levels by 2021, the Institute of International Finance (IIF) said.

MPIC sees 36% profit fall in 2020, recovery in 2022

METRO PACIFIC Investments Corp. (MPIC) anticipates its full-year core net income to end at a little over P10 billion, down from its P15.6-billion finish last year, as recovery from the coronavirus pandemic is seen to take until 2022 to go back to 2019 levels.