Home 2020 November 25

Daily Archives: November 25, 2020 | 9:00 pm

PSEi tests support level on extended profit taking

STOCKS CONTINUED to decline on Wednesday as investors kept taking profits and preferred markets that are expected to beat others in getting the coronavirus disease 2019 (COVID-19) vaccine.

Peso inches up vs dollar as Biden begins transition

THE PESO inched up versus the dollar on Wednesday after US President-elect Joseph R. Biden, Jr. started his formal transition to the White House and amid the race for the development of a vaccine against the coronavirus disease 2019 (COVID-19).

Fourth quarter marks start of economic pickup — FMIC, UA&P

SIGNS OF an economic recovery are emerging this quarter based on readings of recent industrial activity and trade data, First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P) said in a joint report.

SSS reluctant to implement expanded pension proposal

THE Social Security System (SSS) said going ahead with a plan to expand benefits for retirees affected by the coronavirus disease 2019 (COVID-19) pandemic will likely erode the pension fund’s finances.

Gov’t borrowing to fund pandemic expenses driving bond market

BOND MARKET growth accelerated in the third quarter to meet government demand for funds to finance its coronavirus disease 2019 (COVID-19) containment efforts, the Asian Development Bank (ADB) said Wednesday.

BoI auto-industry investment campaign to focus on wiring

THE Board of Investments (BoI) said it is seeking to attract investment in electric vehicle manufacturing, including production of wiring materials, in which the Philippines enjoys advantages in terms of access to supply.

DoE urged to expedite clean energy transition

THE Department of Energy (DoE) must step up its clean energy efforts and implement policy that will bring about the “full and swift” transition of the power sector, an environmental think tank said Wednesday.

House passes on second reading bill banning ‘endo’

THE House of Representatives on Wednesday approved on second reading a bill banning contractualization in the private sector.

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Same difference: Dividends and branch profits

Over the years, the Bureau of Internal Revenue (BIR) has released numerous issuances for the guidance of taxpayers, tax consultants, and tax examiners alike. Typically, these issuances are well received as they provide clarity on tax issues or help ease tax compliance obligations. Admittedly though, because tax can generally be complicated, we may sometimes find ourselves left with more questions than answers.

Gov’t sets price cap on coronavirus swab tests

THE GOVERNMENT has issued an order setting a price ceiling on coronavirus swab tests to balance equity and consumers’ choice.

Gov’t plans to build 6 dams along Cagayan river to control flood

THE PUBLIC Works department plans to build six dams along the Cagayan river in northern Philippines to improve flood control, officials on Wednesday told a Senate committee investigating heavy floods that submerged many parts of Luzon island after it was hit by a typhoon this month.

Operators ready for cashless toll by Dec. 1 — regulator

THE TOLL Regulatory Board (TRB) on Wednesday said toll operators are ready to enforce cashless transactions starting Dec. 1 amid a coronavirus pandemic.

Nationwide round-up (11/25/20)

THE US government, through the Joint US Military Assistance Group, turned over on November 25 a ScanEagle unmanned aerial system to the Philippine Navy.

Regional Updates (11/25/20)

SAN MIGUEL Corp. (SMC), in partnership with animal welfare organization Animal Kingdom Foundation, undertake an animal rescue operation in Taliptip, Bulakan, Bulacan, where about 70 abandoned dogs and cats are retrieved and brought to the Animal Kingdom shelter in Capas, Tarlac.

Cybersecurity during the pandemic

In last week’s article, we highlighted the challenges of cybersecurity in terms of remote working, identity and access management risk, physical security and data privacy. In this second part, we will focus on cybersecurity management and discuss additional challenges that require recalibrating traditional security for the remote workspace; potential analyst disruption; the pandemic’s impact on cybersecurity budgets; and reassessing the cybersecurity function as we adjust to the new normal of business.

Bolts edge Gin Kings, 83-80, to force semis rubber match

THE MERALCO Bolts stayed alive in the PBA Philippine Cup after winning Game Four of their best-of-five semifinal series, 83-80, with the Barangay Ginebra San Miguel Kings on Wednesday at the Angeles University Foundation Sports Arena to force a rubber match.

Nominations for Philippine Sports Hall of Fame extended

NOMINATIONS for the next batch of athletes to be enshrined to the Philippine Sports Hall of Fame are extended, the Philippine Sports Commission (PSC) announced.

Netflix series The Queen’s Gambit packing the numbers in and giving chess a boost

THE Netflix limited series The Queen’s Gambit is proving to be a huge success for the over-the-top content platform and production company while at the same giving the sport of chess a boost.

Youthful Barcelona takes care of Dynamo to seal knockout place

KYIV — An inexperienced Barcelona side missing Lionel Messi eventually cruised to a 4-0 win away to Dynamo Kyiv on Tuesday to reach the Champions League knockout stages for the 17th consecutive season and continue their 100% start in the competition.

Philippine Olympic Committee set to elect new batch of officials this week

THE Philippine Olympic Committee (POC) holds its elections for a new batch of leaders on Friday in one of the more contentious proceedings in the sports body’s history.

Juventus moves into last 16 with 2-1 win over Ferencvaros

TURIN, Italy — Juventus progressed to the Champions League last 16 after a Cristiano Ronaldo goal and a late header from substitute Alvaro Morata gave them a comeback 2-1 home win over Hungarians Ferencvaros on Tuesday.

Australian Open delay ‘most likely’, says state minister

MELBOURNE — The Australian Open is likely to be delayed by a week or two as negotiations between organizers, the tennis tours and the Victoria government over health measures continue, the state’s sports minister said on Wednesday.

The bamboo is Filipino, the Filipino is bamboo

Seven years ago, Typhoon Yolanda wreaked havoc particularly in Eastern Visayas. Typhoon Rolly just recently did the same to Eastern Luzon. Soon after Yolanda hit in November 2013, I wrote about how I believed that wide-scale bamboo production could help typhoon-damaged Samar and Leyte get back on their feet. I suggest the same now for the Bicol and Cagayan regions.

What Janet Yellen doesn’t know

JANET YELLEN, President-elect Joe Biden’s reported pick as Treasury secretary, is surely one of the most qualified nominees for the job in history. Not only has she been chair of the Federal Reserve and the White House Council of Economic Advisers, but she also enjoys widespread bipartisan respect, which will benefit her in coming negotiations over COVID-19 relief. The markets are right to be impressed.

All sorts of ducks

THE POLITICAL appellation “lame duck” should only refer to an incumbent with an already designated successor ready to take over. Such a mandated succession plan may not be wholeheartedly accepted by the incumbent. Still, the lameness of a political bird applies only to the interregnum between the present and future office-holder.

US is ready to lead world again — Biden

WILMINGTON, Del. — President-elect Joe Biden said on Tuesday the United States will be “ready to lead” again on the global stage, turning the page on Republican President Donald Trump’s “America First” policies as he pledged to work together with the nation’s allies.

Singapore nearly virus free after local cases and clusters cease

SINGAPORE — Having once had the highest coronavirus disease 2019 (COVID-19) rate in Southeast Asia, Singapore has all but eradicated the virus after reporting 14 days without any new local cases on Tuesday, and saying it had snuffed out the last cluster of infection at a worker dormitory.

Japan fights COVID-19 in luxurious style with million-yen masks

TOKYO — Japanese trend-setters can now protect against the coronavirus in luxurious style with opulent masks adorned with diamonds and pearls for a cool million yen ($9,600) each.

Power rates down in November 2020

Improved supply situation causes decrease in Generation Charge The Manila Electric Company (MERALCO) announced today a downward adjustment of power rates, as the overall rate...

Philippine Airlines plans court protection as pandemic hits finances 

Philippine Airlines plans to seek court protection from creditors while it pursues debt restructuring with government help, the finance minister said on Wednesday, as...

Bitcoin at $100,000 in 2021? Outrageous to some, a no-brainer for backers

NEW YORK — Bitcoin investors, which include top hedge funds and money managers, are betting the virtual currency could more than quintuple to as...

Plasma from recovered patients shows little benefit in those hospitalized with COVID-19  — study

Using blood plasma from COVID-19 survivors to treat patients with severe pneumonia caused by the novel coronavirus showed little benefit, according to data released...

110 Years for the Filipino: Lessons of hope, courage, and overcoming the pandemic

Eleven decades and one would think, you’ve seen them all. But each of these periods is unique unto themselves; they are different from each...

More Filipinos express confidence in government’s anti-corruption efforts

MORE FILIPINOS are confident that the government is doing well in tackling corruption compared with Asian neighbors, although they also believe corruption in government remains a big problem, a survey from Transparency International showed.

Corruption still a big problem — survey

MORE FILIPINOS are confident that the government is doing well in tackling corruption compared with Asian neighbors, although they also believe corruption in government remains a big problem, a survey from Transparency International showed.

BoI-approved investments drop 17% in first 10 months

THE Board of Investments (BoI) approved P826 billion in investments in the first 10 months, nearly a fifth lower than the estimated P1 trillion in the same period last year.

Gov’t eyes P73-billion coronavirus vaccine fund

THE government plans to borrow P73.2 billion to buy coronavirus disease 2019 (COVID-19) vaccine for around 60 million Filipinos.

BSP approves new ‘dirty money’ risk assessment system

A NEW SYSTEM for assessing “dirty money” and terrorism financing risks in financial institutions has been approved by the Bangko Sentral ng Pilipinas (BSP).

BusinessWorld Virtual Economic Forum opens

THE BusinessWorld Virtual Economic Forum, the newspaper’s flagship and award-winning event, is set to open today with the theme, “Forecast 2021: ReBoot. ReThink. ReShape.”
Ninoy Aquino International Airport (NAIA)

Megawide says NAIA rehab proposal still valid

MEGAWIDE Construction Corp. said its proposal to rehabilitate the Ninoy Aquino Airport (NAIA) remains valid.

Maynilad extends water service interruption to Nov. 29

WEST ZONE water concessionaire Maynilad Water Services, Inc. said the rotational service interruptions its customers are experiencing will be extended until Nov. 29.

URC ventures into rubbing alcohol production

UNIVERSAL Robina Corp. (URC) is opening a rubbing alcohol business as the demand for sanitation products surged due to the coronavirus disease 2019 (COVID-19) pandemic.

IP E-Game Ventures’ investment unit eyes $50-million fund with Malaysian firm

A SUBSIDIARY of listed IP E-Game Ventures, Inc. is partnering with a Malaysian investment company to form a $50-million fund for startup investments in the ASEAN.

Fruitas to introduce self-branded ice cream lines

FOOD and beverage kiosk operator Fruitas Holdings, Inc. is venturing into ice cream production with the addition of two new premium ice cream lines in its product portfolio.

Pumping stations, dredging spared some towns from flooding — SMC

MALABON AND NAVOTAS cities did not experience heavy floods during the onslaught of typhoons Rolly and Ulysses because of the presence of the government’s water pumping stations, which were complemented by San Miguel Corp.’s (SMC) Tullahan-Tinajeros river dredging project, the firm said on Tuesday.