Home 2020 November 10

Daily Archives: November 10, 2020 | 9:00 pm

Main index surges to 7,000 level on vaccine hopes

THE BELLWETHER Philippine Stock Exchange index (PSEi) stepped into the 7,000 level on Tuesday, reaching its highest level since February, as positive development on a possible coronavirus disease 2019 (COVID-19) vaccine improved investor sentiment across the globe.

Peso weakens versus the dollar on virus case tally, Q3 GDP contraction

THE PESO weakened versus the dollar on Tuesday as the daily tally of coronavirus disease 2019 (COVID-19) cases increased again and after the government posted a worse-than-expected economic contraction in the third quarter.

COVID-19 infections nearing 400,000; deaths reach 7,661

THE DEPARTMENT of Health (DoH) reported 1,347 coronavirus infections on Tuesday, bringing the total to 399,749.
hunger poverty

Gov’t and companies start program versus hunger, malnutrition

THE GOVERNMENT and private sector have started an anti-hunger movement that seeks to eradicate hunger and malnutrition in the country.

SRPs for Christmas eve food products kept by Trade dep’t

THE SUGGESTED retail prices (SRP) for food products used for the traditional Christmas eve feast, or noche buena, will be kept after the Trade department released the same price list from a year earlier.

Tribunal warns parties in Marcos protest

THE PRESIDENTIAL Electoral Tribunal has warned parties in the poll protest of losing vice presidential candidate Ferdinand R. Marcos, Jr. not to discuss the case to the media.

Nationwide round-up (11/10/20)

THE four typhoons that hit the country since late October has cost the country about P38 billion in output losses, but Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua said on Tuesday this remains a “manageable” amount.

Regional Updates (11/10/20)

TROPICAL cyclone wind signal #2 was up as of Tuesday afternoon in several provinces in the Bicol Region as tropical storm Ulysses intensified while approaching land. Weather bureau PAGASA, in its 5 p.m. bulletin, warned of “damaging gale-to storm-force winds” in Catanduanes, Sorsogon, Albay, Camariñes Sur, and the eastern portion of Camariñes Norte (San Vicente, Talisay, Daet, San Lorenzo Ruiz, Basud, Mercedes).

Senate committee adds vaccine, calamity funds to budget measure

THE Senate Finance Committee approved the chamber’s version of the P4.5-trillion 2021 budget bill with a hefty increase in vaccine funding, setting the stage for two weeks of deliberations with a target date of passage of Nov. 24.

PHL employer healthcare costs seen rising 8.8% in 2021

THE cost of healthcare benefits borne by employers in the Philippines is expected to rise 8.8% in 2021 due to the pandemic, according to a survey of medical insurers conducted by Willis Towers Watson, an advisory, broking and solutions company.

Holiday retail sales expected to be subdued amid questions about economic recovery

RETAIL SALES during the end-of-year holidays are expected to be subdued as the economy recovers, with consumers expected to keep a lid on spending due to the uncertainty caused by the pandemic.
solar panels

IEA: Regulation main source of uncertainty in growth of Philippine renewables industry

THE renewables outlook to 2025 for the Philippines and some of its neighbors is for growth in the solar and wind-energy industries, with regulation seen as the main source of uncertainty, the International Energy Agency (IEA) said in a report issued Tuesday.

House commits support for 12 economic revival measures on Finance dep’t agenda

THE House of Representatives will expedite the passage of 12 economic measures sought by the Department of Finance (DoF) to help the government jumpstart the economy following the damage done by the pandemic, a senior legislator said Tuesday.

E-voucher program to disburse cash aid to farmers, fishermen via DBP; food aid via...

THE Department of Agriculture (DA) said it entered into an agreement with the Development Bank of the Philippines (DBP) to offer an e-voucher program which will deliver subsidies to farmers and fisherfolk.
rice farming

Farmers bring in P5.57B worth of palay and corn ahead of Storm Ulysses

THE Department of Agriculture (DA) said that around P5.57 billion worth of palay and corn was harvested before Tropical Storm Ulysses made landfall on the Pacific coast of Luzon.

BSP weighing scaled-back relief measures as economy recovers

THE Bangko Sentral ng Pilipinas (BSP) said it is evaluating the timing of moves to wind down its stimulus program as the economy recovers, in order to avoid any negative effects from policy action taken during the height of the crisis, such as the persistence of low interest rates.

Phoenix Fuel Masters look to secure QF incentive outright

THE Phoenix Super LPG Fuel Masters look to secure the twice-to-beat advantage in the quarterfinals (QF) of the PBA Philippine Cup complication-free when they take on the Rain or Shine Elasto Painters on the final play date of the elimination round on Wednesday at the Angeles University Foundation Arena in Pampanga.

Rain or Shine books a spot in the quarterfinals

The Rain or Shine Elasto Painters are heading into the PBA Philippine Cup quarterfinals after defeating the TNT Tropang Giga, 80-74, in a key match on Tuesday at the Angeles University Foundation Arena in Pampanga.

The Biden presidency and the future of the Indo-Pacific

Following a tight race in the state of Pennsylvania, former Vice-President Joe Biden was able to secure the remaining electoral votes needed to defeat President Donald Trump and become the 46th President of the United States. Winning both the electoral college and the overall popular vote, he is expected to become the first presidential candidate in US history to receive more than 75 million votes. Together with his running mate Kamala Harris, the first woman to earn the title of US vice-president, Biden now has the opportunity to reverse the controversial policies that were introduced by the Trump administration and restore “dignified leadership” at home and on the world stage.

Biden needs to keep an eye on jobs — in China

AS A BIDEN PRESIDENCY takes shape in the US, it’s worth wondering to what extent the hardline Trumpian stance on China will persist. While a fraying relationship is to some extent priced in, there’s now more to consider.

Pfizer vaccine data offers real pandemic optimism

LAST WEEK I wrote that based on clinical trial math, the earliest looks at coronavirus vaccine data were less likely to succeed. I’ve never been happier to be wrong. Pfizer, Inc. and BioNTech SE announced Monday that their vaccine candidate prevented over 90% of COVID-19 (coronavirus disease 2019) cases in an early look at results from their 44,000-person clinical trial.

Employment suspension during the pandemic

On Oct. 23, the Honorable Secretary of the Department of Labor and Employment (DoLE), Silvestre H. Bello, signed Department Order No. 215 Series of 2020 (DO No. 215-20) entitled, “Rule Amending Section 12 of Rule I, Rules Implementing Book VI of the Labor Code on Suspension of Employment Relationship.”

Schrock and Marañon among PFL individual award winners

UNITED City Football Club was officially crowned as champion of the 2020 Philippines Football League (PFL) season on Monday and along with it the team saw some of its stalwarts bag top individual awards.

Things looking up for local kendo scene

THE scene for the Japanese martial art of kendo in the country got welcome news recently after the application for membership of the local association in the International Kendo Federation (FIK) was accepted.

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Anthony Edwards favored to go no. 1 despite LaMelo Ball rumors

GEORGIA guard Anthony Edwards remains the heavy betting favorite to go No. 1 overall in next week’s National Basketball Association (NBA) Draft.

US Masters still a thrill for first-time players

THE rush that comes with a first-time appearance at the Masters remains sweet, despite the COVID-19 pandemic altering just about everything about the major championship this year, players said on Monday.

Hoping for economic boost, most Japan firms want Tokyo Olympics to go ahead

TOKYO — Most Japanese firms want the Tokyo Olympics to go ahead next summer with restrictions on spectator numbers, saying while any boost to the economy would be limited, it would be better than nothing, a Reuters survey showed.

Bad days

To argue that the Buccaneers were confident heading into their match against the Saints the other day would be an understatement. Armed with a three-win streak, home field advantage, and a productive runup that had them looking forward to trouncing their division rivals, they figured their third primetime appearance through the season to date was theirs for the taking. Heck, they even had the benefit of seeing wide receivers Chris Godwin (back from injury) and Antonio Brown (as a free-agent pickup) in uniform. And moving forward, they saw victory as the perfect way to jump-start the second half of their 2020 campaign.

Pfizer vaccine brings vision of relief even as pandemic rages on

SINCE the coronavirus disease 2019 (COVID-19) outbreak started, humanity has been playing from behind. Every time it seemed lockdowns and public-health measures were knocking infections down, the pandemic roared back soon after.

Trump mounts legal assault as Barr OK’s probe on vote irregularities

WASHINGTON/WILMINGTON, Del. — President Donald Trump will push ahead on Tuesday with legal challenges to the results of last week’s election after US Attorney General William Barr told federal prosecutors to look into any “substantial” allegations of voting irregularities.

Peru plunged into political upheaval as Congress ousts President Vizcarra

LIMA — Peru’s Congress ousted President Martín Vizcarra on Monday in an impeachment vote over corruption allegations, prompting immediate tensions in the Andean nation.

An exciting take on sustainable urban living

With the need for sustainable living changing the direction of the urban dweller’s lifestyle, hyperconnected, integrated cities are bound to be the future of...

Vaccine hesitancy may undermine fight against COVID-19, UK report says

LONDON — An 80% uptake of a COVID-19 vaccine may be needed to protect communities from the novel coronavirus, but volatile levels of misinformation and vaccine mistrust could undermine efforts to tackle the pandemic, British scientists said on Tuesday.

Brazil suspends Sinovac COVID-19 vaccine trial due to adverse event

SAO PAULO/BEIJING — Brazil’s health regulator has suspended a clinical trial for China’s Sinovac coronavirus vaccine citing a severe adverse event, surprising the trial...

Southeast Asia’s Internet economy on verge of a post-COVID boom

Southeast Asia’s sizzling-hot Internet economy cooled during the pandemic but spending online should bounce back rapidly and triple to more than $300 billion by...

TNBC: A triple threat for women in the Philippines

Every year, nearly 25,000 women in the Philippines are reported to be diagnosed with breast cancer, with over 8000 of these cases ending in...

PHL recession continues in third quarter

The Philippine economy shrank in the third quarter, albeit at a slower rate compared with the second quarter, data released by the Philippine Statistics...

Boost your online shopping experience with Shopee’s exciting 11.11 Big Christmas Sale

The year might not have gone according to anyone’s plans, but that doesn’t mean it has to end on a sour note. Filipinos are...

Pfizer vaccine trial success signals breakthrough in pandemic battle

Pfizer Inc.’s experimental COVID-19 vaccine is more than 90% effective based on initial trial results, the drugmaker said on Monday, a major victory in...

Sustaining the environment through reducing CO2 emissions

Industries’ contributions towards zero-carbon environment tracked in 2nd leg of BusinessWorld Insights Sustaining Sustainability Series By Adrian Paul B. Conoza, Special Features Writer In an accelerated...

Agricultural output growth slows

GROWTH in agricultural production slowed to 0.7% in the third quarter, as higher crops and fisheries production were offset by declines in livestock and poultry output, the Philippine Statistics Authority (PSA) said on Monday.

Performance of Philippine Agriculture (Q3 2020)

GROWTH in agricultural production slowed to 0.7% in the third quarter, as higher crops and fisheries production were offset by declines in livestock and poultry output, the Philippine Statistics Authority (PSA) said on Monday.

Q2 slump sharper than initially estimated — PSA

THE ECONOMY contracted faster in the second quarter than previously estimated, the Philippine Statistics Authority (PSA) reported on Monday.

Lockdowns should be ‘last resort,’ says Chua

THE government’s move to ease lockdown restrictions and further reopen the economy will likely boost growth this quarter, Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua said.