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Daily Archives: November 8, 2020 | 11:50 pm

Peso may rise on US vote results

THE PESO may climb further versus the dollar this week as the market expects a further decline in cases of the coronavirus disease 2019 and after the Democratic Party’s Joseph R. Biden, Jr. was projected to be the new 46th president of the United States.

Profit-taking to weigh on local shares this week

LOCAL SHARES may tread lower this week as investors pocket gains following the five-day rally of the main index since end-October.

Philippine tourism faces bleak 2021 amid virus

THE OUTLOOK for tourism next year remains bleak, with the Philippines struggling to contain a coronavirus pandemic and travelers awaiting the development of a vaccine, according to the Institute of International Finance (IIF), an industry trade association.

Villar orders livestreaming of public works procurement process to ‘reduce corruption’

PUBLIC WORKS and Highways Secretary Mark A. Villar said Sunday that his department will be livestreaming its bidding activities on social media as an anti-corruption measure.

Debt service payments as of September exceed budgeted amount for 2020

THE National Government’s debt service payments surged in September, bringing the nine-month total past the P1.005-trillion budgeted for the year, according to the Bureau of the Treasury (BTr).

Estimate for Typhoon Rolly’s power sector damage raised to P344.69M

THE projected damage to power facilities affected by Typhoon Rolly (international name: Goni) has been upgraded to P344.69 million, the National Electrification Administration (NEA) said.

Plant closures, conversion to gas driving Israel’s planned retirement of coal by 2026

ISRAEL’S STRATEGY for ending the use of coal power centers on plant closures and the conversion of others to run on natural gas, an Israeli energy official said last week.

Steel industry reports finding substandard steel bars in Luzon markets

THE Philippine Iron and Steel Institute (PISI) said it has identified unmarked and substandard steel bars following a monitoring mission in central and northern Luzon.

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What is double nontaxation of income?

Tax law, as a rule, is constantly evolving and adapting, which is why tax authorities all over the world frequently issue new or enhanced rulings, policies and procedures to address new trends or situations that come up. It is, however, unusual to encounter new terms or definitions in new issuances.
Malacañang Palace

Palace says Duterte to work with Biden based on respect

PRESIDENT Rodrigo R. Duterte is looking to improve ties with the United States under President-elect Joseph Biden, according to the presidential palace.

COVID-19 infections nearing 400,000 with 7,539 deaths — DoH

THE DEPARTMENT of Health (DoH) reported 2,442 coronavirus infections on Sunday, bringing the total to 396,395.
housing NHA

Lawmaker urges DoF to defer 12% tax on low-cost housing

A LAWMAKER wants the Department of Finance (DoF) to suspend the imposition of a 12% value-added tax (VAT) on low-cost housing — set to take effect next year — amid a coronavirus pandemic.

Law office, tour operator probed for Wirecard

GOVERNMENT agents are investigating a law office and tour operator for alleged links to German payment company Wirecard AG, whose collapse had been blamed on mismanagement, according to the Justice department.

Nationwide round-up (11/08/20)

CIVIL society and church organizations have jointly called on the government to stop using the current automated election system of Smartmatic, citing problems in past polls “that far outweighed the benefits.”

Regional Updates (11/08/20)

ENVIRONMENT Secretary Roy A. Cimatu has formed a composite team that will investigate quarrying operations around Mayon Volcano, and establish if these were the culprit for the lahar flow that killed at least six residents at the height of typhoon Rolly last week.

A narrow but clear victory

The American people have chosen change. Joe Biden is their President-elect, having obtained more than the 270 electoral college votes needed to win. With respect to the popular vote, with 93% of votes already counted, President-elect Biden leads by close to four million votes.

Good news, lingering doubts

Amidst a succession of GDP growth downgrades, most recently by the IMF, we are watching three developments this month that signal better prospects heading into 2021.

Lessons from an election

“STOP THE COUNTING!” Donald Trump said in all-caps in his Twitter account.

Where did the Philippines go wrong? What did Vietnam do right?

Last month, the International Monetary Fund announced that Vietnam will surpass the Philippines in terms of per capita income by the end of this year. This comes on the back of Vietnam’s decisive anti-virus response which significantly insulated it from the pandemic’s economic blowback. Vietnam’s economy is poised to grow by 3% in 2020 while the Philippine economy will likely contract by a massive 9%.

US president-elect Biden calls for healing, unity

WILMINGTON, Del./WASHINGTON — President-elect Joe Biden declared it was “time to heal” a deeply divided America in his first speech after prevailing on Saturday in a bitter election, even as President Donald Trump refused to concede and pressed ahead with legal fights against the outcome.

Kamala Harris breaks barriers as America’s next vice president

WASHINGTON — Kamala Harris made history on Saturday with her election as Joe Biden’s vice president, becoming the first woman, first Black American and first Asian American to win the second highest US office.

Global uncertainty could risk World War III, says UK military chief

LONDON — Current global uncertainty and anxiety amid the economic crisis caused by the coronavirus pandemic could risk another world war, the head of Britain’s armed forces has warned.

ROS Elasto Painters score big win over the Blackwater Elite

THE Rain or Shine (ROS) Elasto Painters scored a big win over the Blackwater Elite, 82-71, on Sunday at the Angeles University Foundation (AUF) Arena in Pampanga to give their PBA Philippine Cup playoff push added muscle.

CEO Alfredo S. Panlilio: Drawing parallels between sports and corporate life

SPORTS and corporate life may seem to be distinct things, but at the core, they are pretty much similar.

Olympian Marcial building up his confidence in US training

TOKYO Olympics-bound athlete and new professional fighter Eumir Felix Marcial has been making strides in his training in the United States (US), particularly in building up his confidence.

Zverev stops Nadal to set up Medvedev final in Paris

PARIS — Top seed Rafael Nadal’s bid for a maiden Paris Masters title was halted on Saturday when the Spaniard was beaten 6-4 7-5 in the semi-finals by German fourth seed Alexander Zverev.

Cohen completes $2.4 billion purchase of Mets

STEVE Cohen on Friday officially closed the deal to become the owner of the New York Mets.

Players association approves Dec. 22 start for 2020-21 season

THE National Basketball Players Association (NBPA) said on Thursday it has tentatively approved Dec. 22 as the start date for the 2020-21 season with a reduced 72-game schedule.

Alex Cora’s comeback

The Red Sox did Major League Baseball’s version of a news dump when they announced the return of the Alex Cora as manager just as soon as media organizations declared the winner of the United States presidential elections over the weekend. The intent was clear: They wanted as little fanfare — and, yes, backlash — as possible to accompany their rehiring of a supposedly disgraced figure. And it would have been a savvy move save for two things. First, their plan to bring him back had long been the subject of speculation. Second, it’s not as if he’ll be living down his role in not one, but two cheating scandals involving two organizations through two consecutive years anytime soon.

Japan formally proclaims Crown Prince Akishino heir to throne

TOKYO — Japan formally proclaimed Crown Prince Akishino the first in line as heir to the throne on Sunday, the last of a series of ceremonies after his elder brother, Emperor Naruhito, became monarch last year following their father’s abdication.

‘I just couldn’t be silent’: How American women decided the 2020 presidential race

ARCHBALD, Pa, — Marygrace Vadala’s 82-year-old mother had been a fan of President Donald Trump since his days hosting the reality TV show The Apprentice. She enthusiastically voted for him in 2016.
US China flags

Biden’s trade policy will take aim at China, embrace allies

WASHINGTON — President-elect Joseph R. Biden has pledged to work more closely with US allies in confronting China on trade, and is seen as...

Biden wins U.S. presidency, supporters celebrate in deeply divided nation

WILMINGTON, Del./WASHINGTON - Democrat Joe Biden won the U.S. presidential election on Saturday after a bitter campaign, sparking street celebrations among his supporters in...