Home 2020 November 23

Daily Archives: November 23, 2020 | 9:00 pm

PSE BGC bell

Stocks rise as investors hope for eased lockdown

PHILIPPINE shares ended in positive territory on Monday as investors were optimistic on the development of coronavirus disease 2019 (COVID-19) vaccines and the lifting of local quarantine measures at the end of the month.

Peso rises on BSP decision, vaccine hopes

THE PESO strengthened versus the dollar on Monday after the central bank’s decision to cut rates and on the continued progress in vaccine candidates against the coronavirus disease 2019 (COVID-19).

US government turns over $18M worth of missiles vs terrorists

THE UNITED States government on Monday turned over almost a billion pesos worth of precision-guided missiles and munitions to the Philippine military to help it fight terrorists linked to Islamic State in the country’s south.

Coronavirus cases top 420,000; DoH warns vs crowding

THE DEPARTMENT of Health (DoH) reported 1,799 coronavirus infections on Monday, bringing the total to 420,614.

Lawmaker seeks to double budget for power cooperatives

A SENATOR asked his fellow lawmakers on Monday to double the 2021 budget for the restoration of power facilities damaged by recent typhoons.

Nationwide round-up (11/23/20)

THE PHILIPPINE government may still expand the cap on the number of health workers allowed to leave for overseas jobs, currently set at 5,000 annually, according to a Labor official.

Regional Updates (11/23/20)

CROP damage from rain and flooding during the onslaught of Typhoon Ulysses (international name: Vamco) is now at P4.18 billion, higher than the previous estimate of P4.03 billion, the Department of Agriculture (DA) said.

DPWH, PPP Center start gauging investor interest in road projects

THE Department of Public Works and Highways (DPWH) and the Public-Private Partnership Center (PPP Center) said Monday that they are gauging investor interest in three proposed big-ticket expressway projects — the Pacific Eastern Seaboard Expressway, the Metro Cebu Expressway, and the Davao-Digos Expressway.

HMO profits surge in first half to P4.53 billion

HEALTH MAINTENANCE organizations (HMOs) posted net profit growth of 203% in the first half to P4.53 billion due to cost-management measures as well as increased demand during the pandemic, the Insurance Commission (IC) said Monday.

DTI trading arm’s funds accounted for as Senate probe looms

TRADE SECRETARY Ramon M. Lopez said his department’s trading arm has accounted for all funds allocated to it, ahead of a possible Senate investigation into its finances.
Agnes T. Devanadera

ERC third-quarter approvals pick up as lockdown eases

THE Energy Regulatory Commission (ERC) said Monday that it issued 113 certificates of compliance (CoCs) to power projects rated at 4,213 megawatts (MW) in the three months to September.

Return to pre-pandemic debt could pose growth risk

DETERIORATING public finances across Asia will be difficult to reverse, with any attempts to return to pre-pandemic debt ratios posing a risk to growth, ANZ Research said.

Commercial launch of ‘Golden Rice’ expected by 2023

THE COMMERCIAL propagation of Golden Rice is projected to begin by 2023, according to the Philippine Rice Research Institute (PhilRice).

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Donations and losses during calamities

In recent weeks, the Philippines, mainly Luzon, was ravaged by a series of typhoons that left the Bicol Region in ruins and submerged the Cagayan Valley in floods. Homes and livelihoods were lost because of these calamities.

Quo Vadis

THE SOUTH CHINA SEA, as we know, is of tremendous economic and geostrategic importance: it is where a quarter of international trade goes through and where more than half of the world’s oil tankers and merchant ships pass every year. The South China Sea is part of an area that has long been known to be the “greatest concentration of marine life on the planet,” where the highest concentration of this biodiversity is in the Philippines.

Country’s vaccination program politicized

On April 15, 2018 Senator Richard Gordon, chairman of the Senate Blue Ribbon Committee, released his report recommending charges of graft and violation of the government ethics code against former President Benigno Aquino, former Health Secretary Janette Garin, former Budget Secretary Florencio Abad, and seven other former health officials for allegedly conspiring to approve the government purchase of the anti-dengue vaccine Dengvaxia.

Senator Recto’s tax cut plan shadows Reagan, Thatcher, and Trump tax cuts

Tax competition in the ASEAN is real and actual, not fictional. Vietnam and Thailand have corporate income tax (CIT) of only 20% while the Philippines has 30%. Last year, Vietnam and Thailand had merchandise exports that were nearly four times that of the Philippines. In addition, they have graduated CIT rates down to zero or 10%, and their VAT (value-added tax) rates are only 10% and 7%.

Shared Prosperity: The business groups’ response to inequality and the pandemic

A historic event in the annals of Philippine Business happened on Nov. 5. In that event, 26 of the country’s largest business and professional associations signed a Covenant for Shared Prosperity. The signatories to this covenant included the Management Association of the Philippines (MAP), the Makati Business Club, the Financial Executives Institute of the Philippines, the Philippine Chamber of Commerce and Industry, the Bankers Association of the Philippines, the American Chamber of Commerce of the Philippines, the European Chamber of Commerce of the Philippines, the Institute of Corporate Directors, the Institute for Solidarity in Asia and 17 other associations. They are called the Philippine Business Groups (PBGs). Combined, they represent thousands of businesses and an even greater number of individual member-professionals committed to national development.

Americans may get COVID-19 shots by mid-Dec.

US HEALTHCARE workers and others recommended for the nation’s first coronavirus disease 2019 (COVID-19) inoculations could start getting shots within a day or two of regulatory consent next month, a top official of the government’s vaccine development effort said on Sunday.

HK-Singapore bubble delay hits travel rebound hopes

THE SHELVING of the Hong Kong-Singapore travel bubble shows just how delicate the process of reopening borders is — even for places that have largely contained the coronavirus.

US drafts list of 89 Chinese firms with military ties

THE TRUMP administration is close to declaring that 89 Chinese aerospace and other companies have military ties, restricting them from buying a range of US goods and technology, according to a draft copy of the list seen by Reuters.

Young Gilas crew looking to get the job done in Manama, Bahrain

THE Gilas Pilipinas men’s team left for Manama, Bahrain, at the weekend to go into battle in the November window of the International Basketball Federation (FIBA) Asia Cup qualifiers set for later this week.

Leading Barangay Ginebra expecting a tougher stand from Meralco in Game Four

WHILE they are ahead, 2-1, in their best-of-five PBA Philippine Cup semifinal series, the Barangay Ginebra San Miguel Kings know that their job is not done and have to deal with a Meralco Bolts crew they expect will put up a tougher stand in their next game.
Danny Kingad

Kingad, Torres set for ONE Championship return in December

FILIPINOS Danny “The King” Kingad and Jomary “The Zamboanginian Fighter” Torres are set to make their ONE Championship return at “ONE: Big Bang” pencilled for Dec. 4 at the Singapore Indoor Stadium.

Groups underscore importance of steady physical activity for kids

GIVEN where they are at this stage of their development and how the coronavirus pandemic has changed the mode of learning, children — more than ever — need to have a steady amount of physical activity even just at home.

Medvedev beats Thiem and claim ATP Finals title

LONDON — Daniil Medvedev barged to the head of the queue of young pretenders as the Russian captured the biggest title of his career by beating Dominic Thiem 4-6, 7-6 (2), 6-4 in an absorbing climax to London’s last Association of Tennis Professionals (ATP) Finals on Sunday.

Lakers agree to two-year deal with Marc Gasol

THE Los Angeles Lakers and three-time All-Star center Marc Gasol agreed to a two-year deal, multiple outlets reported Sunday night.

Roundup: Hill just what Saints need to top Falcons

TAYSOM Hill rushed for two touchdowns and the host New Orleans Saints won their seventh consecutive game by defeating the Atlanta Falcons 24-9 on Sunday afternoon.

Philippine health care worker hopes COVID-19 vaccines will revive overseas job dream 

MANILA — Philippine health care worker Vince Umali received a blow when the coronavirus pandemic derailed his plan to work in Canada this year, but he hopes to revive his dream of an overseas job after breakthroughs in the race to develop COVID-19 vaccines.

Intellicare unveils new “Guardian” video to mark 25th year

https://youtu.be/vmc8Y5My-QA Intellicare launches a "Guardian" video in celebration of its 25th anniversary. "It is a story of how small acts of care make us better...

Brexit creates 500 customs jobs in Bosnia and the Philippines

Brexit has helped to create at least 500 jobs in Bosnia-Herzegovina and the Philippines over the last quarter as companies turn to overseas labor...

Global dividends forecast to inch back from coronavirus cliff edge 

LONDON — Dividend payouts by the world’s biggest firms in 2020 will fall by 17.5%–20%, equivalent to some $263 billion, as a result of...

[B-SIDE Podcast] If it’s too good to be true, it probably is: Debunking fake...

https://open.spotify.com/episode/17vyqvinYiVaA9VI7GcpyN Follow us on Spotify BusinessWorld B-Side Fake COVID-19 cures and preventive measures are proliferating online, in chat groups and social media. Bananas, saltwater, and onions...

UnionBank feted as 2020 Digital Trailblazer, its president named 2020 DX CEO in Asia/Pacific...

Union Bank of the Philippines (UnionBank) thanks its partners for their recent awards from IDC Asia/Pacific: 2020 Digital Trailblazer for UnionBank and 2020 DX...

The Pursuit of HappyNEST

Wealth management and preservation for the ultra-high-net-worth (UNHW) is a daunting task which goes beyond financial management. More importantly, it involves the perpetuation of...

Perfect for convenient, stylish driving

Suzuki’s Ertiga and Dzire bundles elegance and efficiency for various drivers Whether one looks for a car to begin his or her driving experience, or...

Pivoting life and work balance in a global pandemic

As the global pandemic shuts down businesses and drives economies into recession, a woman is leading the first and biggest Filipino-owned life insurance company through the most complex crisis of this generation. Nina D. Aguas, Executive Chairman of Insular...

BSP likely to keep dovish stance

THE Philippine central bank would probably remain dovish and might cut benchmark interest rates again next month and in the next quarter as the recovery outlook remains uncertain, analysts said.

Blue chips’ 2020 profits may fall deeper after Q3 upset

EARNINGS of blue-chip stocks may fall deeper this year as third-quarter earnings results came in weaker than expected due to quarantine measures meant to contain a coronavirus pandemic.

Gov’t told to expand digital tax foothold

THE government should look at digital payment systems that can cover cross-border transactions to widen its digital tax base, according to the National Tax Research Center (NTRC).

Moody’s cites country’s strong growth outlook

THE country’s midterm growth potential remains strong amid a coronavirus pandemic, and good fundamentals continue to guard its credit rating and outlook, according to Moody’s Investors Service.

Seiko watch inspired by Tubbataha

A VERY specific wish for a watch had been fulfilled with the release of a new line of Seiko’s Prospex diver’s watches. We’re talking about a limited Philippine edition.

Cavite sees ‘signs’ to seal JV for Sangley airport

THE Cavite government sees “signs” that it will finally seal a joint venture (JV) agreement by Nov. 24 with MacroAsia Corp. and its partner China Communications Construction Co. Ltd. (CCCC) for the $10-billion Sangley Point International Airport project.

LVxNBA capsule collection now available in the country

LOUIS VUITTON and the National Basketball Association (NBA) recently partnered on a capsule collection which is now available at the LV Greenbelt 4 branch in Makati City.

AC Energy readies sale of stake in Bataan and Mindanao power projects

AYALA-LED AC Energy, Inc. plans to sell its investments in coal-fired power plant projects in Bataan and Lanao del Norte in line with its goal to generate more than half of its energy output from renewables by 2025.