Home 2020 November 17

Daily Archives: November 17, 2020 | 9:00 pm

Peso Dollar

Peso drops vs dollar on news of vaccine progress

THE PESO weakened versus the dollar on Tuesday despite news of progress in vaccine candidates against the coronavirus disease 2019 (COVID-19) and amid bargain hunting in the local stock market.

Fresh vaccine hopes end PHL stocks’ losing streak

PHILIPPINE SHARES bounced back on Tuesday to snap a three-day losing skid following positive news on another coronavirus disease 2019 (COVID-19) vaccine candidate.

Congress to probe dam operators after floods

LAWMAKERS on Tuesday sought an investigation of dam operations in Marikina and Cagayan Valley and logging activities in the Sierra Madre that supposedly caused heavy flooding when Typhoon Vamco hit Luzon last week, killing at least 73 people.

SolGen threatened with contempt after seeking to oust judge

THE SUPREME Court has threatened to hold Solicitor General Jose C. Calida in contempt for seeking to oust a magistrate he had accused of bias in the election protest of losing vice presidential candidate Ferdinand R. Marcos, Jr.

Coronavirus deaths nearing 8,000 — DoH

THE DEPARTMENT of Health (DoH) reported 1,148 coronavirus infections on Tuesday, bringing the total to 410,718.

House body to push tax on off-site betting involving cockfights

A HOUSE of Representatives committee on Tuesday approved in principle a bill that seeks to tax off-site betting involving cockfights and other electronic gambling to fund the government’s pandemic response.

Nationwide round-up (11/17/20)

AN additional P200 million has been proposed for inclusion in the 2021 budgets of the police and the Bureau of Fire Protection (BFP) to serve as quick response fund (QRF) during calamities.

Regional Updates (11/17/20)

THE Palace on Tuesday said President Rodrigo R. Duterte has received the recommendation of the national disaster management council on declaring a state of calamity in the entire Luzon island and will announce a decision soon.

Bill calling for Bayanihan III adds funding for typhoon recovery

A MEASURE calling for a third package of economic stimulus programs — which would be known as Bayanihan III if passed — has been filed at the House of Representatives.
solar panels BoI

DoE evaluating renewables applications covering 1,479 megawatts

THE Department of Energy (DoE) said Tuesday that it has received 44 applications for renewables service and operating contracts linked to projects with the potential to generate 1,479 megawatts (MW).

HSBC sees further quarantine easing as trigger for rate cut

THE CENTRAL BANK will likely observe a pause in its rate easing with liquidity ample, but it could be keeping another reduction in reserve to boost growth pending a further easing in the quarantine sometime next year, HSBC (Hongkong and Shanghai Banking Corp. Ltd.) said.

Agriculture credit council backs scheme for farmers setting up rural online businesses

THE Agricultural Credit Policy Council (ACPC) supports a bill establishing a credit facility for farmers seeking to become online entrepreneurs focused on agricultural products, according to a House of Representatives committee report.

ADB to offer technical assistance for vaccine distribution effort

THE Asian Development Bank (ADB) said it has a technical assistance fund of $20.3 million to help its member countries organize the distribution of coronavirus disease 2019 (COVID-19) vaccines once these are available sometime next year.

Trade department expresses support for bill establishing MSME database

THE Trade department expressed its support for a measure establishing a database for micro, small and medium enterprises (MSMEs) in all cities and municipalities, according to a House of Representatives committee report.

IP protections expedited to rush gov’t-backed research to market

THE GOVERNMENT has launched a program accelerating the grant of intellectual property (IP) protections for science and technology research it supports, which is intended to speed up the commercialization of any innovations developed.

The Filipino people know

Before the pandemic, there were decades of sustained economic growth never before seen in our history. The outlook for long term prosperity bolstered the government’s very ambitious infrastructure programs and most certainly strengthened the political stability of the administration. However, with the outbreak of the global pandemic, economic development was stunned, impacting everybody, and like all calamitous events, the hardest hit are always the poor.

Trademark infringement in the world of online shopping

One thing that has thrived during this pandemic is online shopping. While e-commerce platforms were already a booming industry before the pandemic, their appeal has steadily increased since because of the convenience and safety they provide. Indeed, the words “Add to Cart” are now very familiar to us in our daily lives.

Why Moderna’s vaccine win is a giant leap against pandemics

THE WORLD now seems likely to have at least two effective vaccines against COVID-19 (coronavirus disease 2019) with Monday’s announcement of positive early data from Moderna, Inc.’s 30,000-person clinical trial. The result comes a week after Pfizer, Inc. and BioNTech SE revealed a protection rate of more than 90% against disease. Moderna slightly one-upped its rivals, estimating that its shot is 94.5% effective at preventing COVID-19. Both results are highly impressive for inoculations developed at historic speed.

Tropang Giga, Fuel Masters begin best-of-five semifinal matchup

COMPETITION in the PBA Philippine Cup is now down to four teams with the TNT Tropang Giga and Phoenix Super LPG Fuel Masters kicking off the semifinal proceedings on Wednesday.

Valdez excited over possible return of volleyball

ONE of the top volleyball stars in the land, Alyssa Valdez is excited over the possible return of action in the sport after being sidelined by the coronavirus pandemic by way of the now-professional association Premier Volleyball League (PVL).

Fil-Am winger OJ Porteria eyes other opportunities as he leaves United City FC

IN nearly a decade of parading his wares in the country, football star OJ Porteria is now looking for other opportunities and destinations to showcase his skills, deciding to leave the newly minted Philippines Football League (PFL) champion United City Football Club (UCFC).

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Phoenix Suns land Chris Paul from OKC in six-player deal

THE Phoenix Suns acquired star guard Chris Paul from Oklahoma City (OKC) in a six-player trade, the Thunder announced Monday.

Thunder general manager Presti

Sam Presti has always been an astute general manager. The moves he makes haven’t always struck gold. For instance, he let go of James Harden in 2012 even though a little financial creativity and, yes, a handful of hard choices could have allowed the Thunder to keep him. Then again, nobody bats a hundred percent, and he has arguably come closest out of all the front-office honchos in the National Basketball Association despite otherwise-debilitating small-market constraints. And what he hasn’t seen in stability of late, he more than makes up for with reputation, resiliency, and resourcefulness.

Battle climate crisis like COVID, Red Cross urges government

BARCELONA — The experience of having to respond so rapidly to the coronavirus disease 2019 (COVID-19) crisis should serve as a wake-up call to accelerate action to deal with climate change, which is already hitting vulnerable communities hard, the Red Cross said on Tuesday.

Finance chief sees no need to borrow more than planned

Finance Secretary Carlos G. Dominguez III said he doesn’t see a need for outsized government borrowings as he expects the economy to bounce back in 2021 amid a sustained reopening that’s been restoring jobs.

How to plan successful e-conferences during and after the COVID-19 pandemic

Many professionals, including academics, are accustomed to flying a lot. Or they were before COVID-19 drastically reduced air travel and disrupted conference plans globally. For now, the mingling of many people in hotel conference rooms, flown in from many places, isn’t an option.

Travel restrictions challenge vaccine rollout, airlines warn

PARIS — Air cargo operators may struggle to distribute new COVID-19 vaccines effectively unless pandemic travel restrictions are eased, global airlines cautioned on Monday.

World should not be complacent after COVID-19 vaccine news — WHO

GENEVA — The World Health Organization (WHO) welcomed Moderna reporting on Monday that its experimental vaccine showed 94.5% efficacy but said that “many questions” remained and it was no time for complacency.

We can stop COVID-19: Moderna vaccine success gives world more hope 

Moderna Inc.’s experimental vaccine is 94.5% effective in preventing COVID-19 based on interim data from a late-stage trial, the company said on Monday, becoming...

Shot in the dark: Early COVID-19 vaccine efficacy explained

ZURICH — Moderna Inc. delivered the latest good news from COVID-19 vaccine developers, saying its experimental vaccine is 94.5% effective in preventing the disease...

Small-scale farmers should focus on yield stability, embrace mobile money — experts

By Patricia B. Mirasol Small-scale farmers produce 80% of the food consumed in Southeast Asia, underscoring their critical role in protecting the food value chain...

PH e-commerce platform raises $1M seed fund

Resellee, a social e-commerce platform in the Philippines, announced that it received a $1 million seed fund from Mintech Enterprises, a Singapore-based digital banking...

Stream on, stream away: OTT in the time of COVID-19

Demand for content amid lockdown pushes creators to ‘think small’ by Mariel Alison L. Aguinaldo The list of players in the over-the-top (OTT) industry grows longer...

Remittances bounce back in Sept.

CASH REMITTANCES from overseas Filipinos rebounded in September, growing at the fastest pace in more than two years after a decline in August.

Entrepreneurs either avoid debt or cannot borrow amid pandemic

ABDUL JOHN A. CANDELARIO, 30, tried to borrow half-a-million pesos from a bank so he could expand his Korean barbecue business and capitalize on the booming food delivery service amid a lockdown meant to contain a coronavirus pandemic. He got turned down.

Car sales drop 27% in October

VEHICLE SALES in October plunged by 27.3% year on year to 25,023 units, the highest sales volume since the start of the coronavirus pandemic, according to an industry group.

Swiss challenge for NAIA rehab seen completed by Q1

MEGAWIDE CONSTRUCTION Corp. expects the Swiss challenge for the P109-billion Ninoy Aquino International Airport (NAIA) rehabilitation project to be completed in the first quarter of 2021.
GT Capital

GT Capital extends profit dive as pandemic bites

GT CAPITAL Holdings, Inc. reported a net income of P489 million in the third quarter, slumping by about 94% from the P7.99 billion it reported a year earlier.

ABS-CBN swings to loss as ad, consumer revenues fall

ABS-CBN Corp. swung to a net loss in the third quarter as advertising and consumer revenues dropped after the closure of its broadcast and digital TV operations, and amid the public health crisis.

Vista Land plans REIT offering, sees recovery signs as income falls

VILLAR-LED Vista Land & Lifescapes, Inc. is keen on doing a real estate investment trust (REIT) offering for some of its leasing assets to improve its financial position during the coronavirus pandemic.

Profit of Cebu Landmasters slides in Q3, but nine-month total nears pre-pandemic level

CEBU LANDMASTERS, Inc. posted an attributable net income of P709.78 million in the third quarter, slowing by 11% from last year but growing more than triple from P219.57 million in the second quarter.

Aboitiz group gets nod on P7.55-B bonds to partly finance hydro facility

THE regulator has approved Aboitiz Equity Ventures, Inc.’s (AEV) plan to list the P7.55-billion second tranche of its P30-billion fixed-rate bonds that will partly fund the construction of its hydro-powered water treatment plant in Davao.

Suntrust taps Megawide for hotel casino

SUNTRUST HOME Developers, Inc. is tapping Megawide Construction Corp. to build its hotel casino project in Parañaque City.

Century Pacific starts making plant-based meat alternative

CENTURY PACIFIC Food, Inc. (CNPF) is introducing a vegan meat alternative to cater to Filipinos shifting to healthier lifestyles.

SM shifts to China-style mixed retail

SM INVESTMENTS Corp., the owner of the Philippines’ largest mall operator, is speeding up efforts to develop “omni-channel” options for shoppers as people shift to a mix of online and in-store purchases amid the coronavirus pandemic.