Home 2020 November 26

Daily Archives: November 26, 2020 | 9:00 pm

Peso up on ‘hot money’ data

THE PESO strengthened slightly versus the dollar on Thursday following the release of data showing net hot money inflows in October.

PSEi sinks below 7,000 mark as market corrects

LOCAL SHARES closed lower on Thursday, ending below the 7,000 mark, as investors continued to pocket gains and as global markets weakened overnight.
Senate seal

Senate approves P4.5-T budget for next year

THE SENATE on Thursday passed on final reading the P4.5-trillion national budget for next year, which lawmakers said would boost government response to the coronavirus pandemic.

Sanofi eyes 1.4B doses of coronavirus vaccines

SANOFI PASTEUR is seeking to produce as many as 1.4 billion doses of coronavirus vaccines by the end of next year as part of a plan to boost its manufacturing capacity to meet global demand, a company official said.

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Gov’t told to increase budgets of oversight bodies vs corruption

THE PHILIPPINE government should increase the budget of its three oversight agencies as part of its anti-corruption drive, a local think tank said on Thursday.
Gloria Macapagal-Arroyo

Ex-President Arroyo named Duterte adviser

President Rodrigo R. Duterte has appointed former President Gloria Macapagal-Arroyo as his adviser for projects at the Clark Freeport and Special Economic Zone in Pampanga province.
vegetable stall palengke

DA releases new agri goods SRP list for Metro Manila

THE DEPARTMENT of Agriculture has announced a new suggested retail price (SRP) list for agricultural products sold in wet markets across Metro Manila in line with the declaration of a Luzon-wide state of calamity following the recent series of typhoons.
Ramon M. Lopez

Nationwide round-up (11/26/20)

TRADE Secretary Ramon M. Lopez on Thursday said he is open to reviewing the functions of his department’s trading arm after a senator pointed out redundancies.

Regional Updates (11/26/20)

THE PHILIPPINE Crop Insurance Corp. (PCIC) has so far released P347 million worth of indemnification funds to insured farmers and fisherfolk affected by the onslaught of recent typhoons and other calamities.
Bureau of Treasury (BoT)

Gov’t scales back domestic bond program to P120B in Dec.

THE government plans to borrow P120 billion from domestic lenders in December, less than the P140 billion targeted for this month.

Regional green economy shift valued at $1 trillion every year by 2030

A SHIFT to the green economy by Southeast Asia is projected to be worth about $1 trillion a year by 2030, Bain & Co. said in a report.

Competition commissioner touts red tape reduction as big help to small businesses

MICRO, small and medium enterprises (MSMEs) will find it easier to do business if they receive efficient services from their regulators, the Philippine Competition Commission (PCC) said on Wednesday.

Retail price growth of construction materials in NCR accelerates

RETAIL price growth of construction materials in Metro Manila accelerated to its highest level in nearly two years in October, according to the Philippine Statistics Authority (PSA).

Intellectual property infringement complaints spike during lockdown

THE Intellectual Property Office of the Philippines (IPOPHL) said it received 135 intellectual property violation reports in the first nine months, which include the lockdown period, exceeding the total compiled during the four years to 2019 by 4%.

Palay farmgate price declines 0.4% in last week of October

THE AVERAGE farmgate price of palay, or unmilled rice, fell 0.4% week-on-week to P15.36 per kilogram in the fourth week of October, with the price down 1.4% year-on-year, the Philippine Statistics Authority (PSA) said.

Green infrastructure investment seen potentially supercharging PHL recovery

INVESTMENT in “green” infrastructure can help the Philippines bounce back faster and become more resilient after the pandemic, according to a report published by the Climate Bonds Initiative (CBI) and prepared with the Securities and Exchange Commision (SEC) and the Asian Development Bank (ADB).

Domestic trade falls 60.1% by value in third quarter

DOMESTIC TRADE declined 60.1% year-on-year by value to P91.19 billion in the third quarter, the Philippine Statistics Authority (PSA) said Thursday, citing preliminary data.

Disaster myopia: the new pandemic?

Seven years ago, John Cassidy wrote an interesting article in The New Yorker titled, “Before the Fall: Disaster Myopia at the Fed.” He shared his appreciation of deliberations on monetary policy by the Federal Open Market Committee. Because of Cassidy’s glasnost, or policy of greater transparency; and thanks to wider information dissemination pioneered by Alan Greenspan (continued by Ben Bernanke), monetary policy making-dynamics is for the world to read, and even judge, years after the Global Financial Crisis (GFC) of 2007-2008.

Government by confusion

It was the students of the Ateneo de Manila University (ADMU) who had declared an academic strike — they won’t attend online classes and neither would they submit course requirements — in protest against what they saw as government’s inept response to the disaster wrought by typhoon Ulysses. But it was the University of the Philippines (UP) President Rodrigo Duterte threatened to defund and at the same time accused of “doing nothing except recruit communists.”

The unbearable futility of mandatory mask laws

St. Augustine once wrote: “Seek not to understand that you may believe, but believe that you may understand.” He was writing, obviously, about matters of faith. Unfortunately, many who’ve scolded the public to “follow the science!” over the past several months are now seemingly content to treat masks as an object of faith rather than trust the science behind it.

Win-or-go home Friday

IT is win or go home for the four remaining teams in the PBA Philippine Cup as they play in a pair of semifinal rubber matches on Friday at the Angeles University Foundation Sports Arena in Pampanga.

Argentina mourns death of Diego Maradona, 60

HAVANA — Argentina football legend Diego Maradona said his hero, late Cuban revolutionary leader Fidel Castro — whom he considered a “second father” and whose face he had tattooed on his leg — once urged him to go into politics.

Gilas takes on Thailand in FIBA Asia Cup qualifiers

GILAS Pilipinas begins its campaign in the November window of the qualifiers for the 2021 FIBA Asia Cup on Friday, taking on Thailand in the first of a slated two-game series in Manama, Bahrain.

Filipinos have potential to excel in Lethwei, says WLC

BELIEVING that Filipinos have the potential to excel in the Burmese martial art of Lethwei, the World Lethwei Championship (WLC) is looking to feature fighters from the Philippines beginning next year, part of the group’s push to expand its operations and help grow the sport.

Varquez, Anton rule Race 3 of Phoenix Pulse FV1 Virtual Cup

ANDRE Varquez and Iñigo Anton ruled their respective categories in Race 3 of the Phoenix Pulse Formula V1 Virtual Cup, which was broadcast last weekend by Tuason Racing.

Bayern reaches knockout stage with 3-1 win over Salzburg

MUNICH, Germany — Holders Bayern Munich failed to hit top form, but did enough for a 3-1 win over visitors Salzburg on Wednesday to book their spot in the Champions League knockout stage with two games to spare.

Warriors’ Thompson undergoes surgery, expected to make full recovery

LOS ANGELES — Golden State Warriors’ All-Star shooting guard Klay Thompson underwent season-ending surgery to repair his torn Achilles on Wednesday and is expected to make a full recovery, the team said.

Bogdanovic misstep

It’s easy to see why the Bucks wanted to load up in the offseason. For the second straight campaign, they headed into the playoffs as the league leaders, only to find themselves falling short of expectations. Last year, they fell to the rampaging Raptors in six games despite having claimed the first two of the East Finals. And then, in early September, they were pilloried by the upstart Heat, who needed just five contests to advance to the conference finals. That they bowed to achievers was of no consequence to them. There could be no downplaying the extent of their disappointment; after all, they had reigning Most Valuable Player Giannis Antetokounmpo heading their cause, and, moving forward, they needed to meet expectations.

Airlines stir doubts with ‘flying is safe’ claim on virus

AIRLINES have loudly insisted that it’s safe to fly during the coronavirus pandemic, and US travel is surging before the Thanksgiving holiday despite a nationwide spike in virus cases.

New Zealand’s Ardern set to declare climate emergency

WELLINGTON — New Zealand Prime Minister Jacinda Ardern’s government is to declare a climate emergency in a symbolic step to increase pressure for action to combat global warming.

Shop for a Cause This Christmas at Globe myBusiness Gift Local E-Bazaar

Christmas shopping has always been an exciting tradition during the holidays where everyone is filled with the spirit of giving and the desire to...

Peso tipped for strong December on record remittances

The Philippine peso, which lagged its peers in Asia this quarter, may get a boost in December with millions of Filipinos abroad set to...

A resilient customer experience partner to rely on

By Bjorn Biel M. Beltran, Special Features Assistant Editor The world was caught unaware by the coming of the COVID-19 pandemic, with many businesses, organizations,...

National Government Fiscal Performance (Oct. 2020)

THE government’s budget deficit swelled in October, bringing the 10-month gap to nearly P1 trillion as state revenues remained weak and spending continued to decline even as economic managers pledged to ramp up spending to stimulate the economy.

Budget deficit widens in October

THE government’s budget deficit swelled in October, bringing the 10-month gap to nearly P1 trillion as state revenues remained weak and spending continued to decline even as economic managers pledged to ramp up spending to stimulate the economy.

PAL eyes court protection from creditors, says DoF

PHILIPPINE AIRLINES (PAL) is planning to seek court protection from creditors as it works on a debt restructuring plan, Finance Secretary Carlos G. Dominguez III said on Wednesday.

Economy may return to pre-pandemic growth by mid-2022

THE Philippine economy may go back to its pre-pandemic growth trend starting mid-2022, on the back of strong fundamentals and an expected rebound in consumer confidence amid optimism that a coronavirus vaccine will be available by next year, experts said on Wednesday.

House approves bill amending AMLA on 2nd reading

THE House of Representatives on Tuesday evening approved on second reading a measure strengthening the regulations against money laundering, which is key to helping the country avoid being gray-listed by the Financial Action Task Force (FATF).

Sy-led SM Prime expands footprint in Mindanao

SM PRIME Holdings, Inc. is opening a new mall in Zamboanga City where the coronavirus-related lockdown has been more relaxed since mid-August.

PHirst Park launches P1.9-B Pampanga development

CENTURY Properties Group, Inc., (CPG) has launched a new residential property in Pampanga, which offers 1,079 units valued at P1.9 billion.

Kaspersky sees emergence of new cyberattack strategies in 2021

INTERNET SECURITY firm Kaspersky on Monday said it expects new cyberattack strategies to emerge next year, which will mainly target network appliances and 5G.

PLDT partners with ASUS to offer WiFi 6 system 

PLDT HOME has partnered with Asus in bringing WiFi 6 technology and providing faster internet connection speeds to the internet provider’s subscribers starting Nov. 26.

MSI introduces three new laptop lines

TAIWANESE technology company MSI is taking a stab at the growing business and productivity market by introducing several new notebooks, using its “gaming DNA” to develop the new devices.

AC Health, QualiMed increase COVID-19 capacity

AYALA HEALTHCARE Holdings, Inc. (AC Health) and hospital operator QualiMed have expanded their capacities to accommodate coronavirus disease 2019 (COVID-19) patients in Laguna and Bulacan in preparation for any surge in new cases.

OPPO unveils concept phone with ‘rollable’ display

CHINESE consumer electronics and mobile communications company OPPO has unveiled its newest concept phone for the second edition of its global conference: one with a proprietary “rollable” display that extends the phone screen seamlessly.