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Monthly Archives: January 2021

Peso may falter as market sees faster inflation

THE PESO will likely retreat this week due to safe-haven demand for the greenback caused by expectations of quicker January inflation.

Stocks may fall before January inflation report

SHARES are projected to decline in the upcoming trading week as investors await the upcoming release of January inflation data.
solar panels

Energy dep’t seeking to launch green energy auction in June

THE Department of Energy (DoE) said it seeks to launch an auction for green energy suppliers by June to determine how much volume from renewable sources the market is willing to absorb.

Barriers to entry seen limiting growth of local logistics industry

THE competitiveness of the logistics industry has been hampered by rules limiting market entry, according to a joint report issued by the Organisation for Economic Co-operation and Development (OECD) and the Philippine Competition Commission (PCC).

Palace urged to greenlight legislation to expedite Bayanihan III passage

THE GOVERNMENT needs to consider enacting a third stimulus package as a means of increasing incomes at a time of rising food prices, analysts said Sunday.

Budget for Dubai Expo PHL pavilion reduced to fund pandemic response

THE BUDGET for the Philippine pavilion at the rescheduled World Expo in Dubai has been cut after the government repurposed funding in favor of the coronavirus disease 2019 (COVID-19) containment effort.

Due process not followed in FiT adjustment, NGO claims

CONSUMER RIGHTS advocacy group Laban Konsyumer, Inc. (LKI) has sought to nullify an Energy Regulatory Commission (ERC) resolution to adjust the feed-in tariff (FiT) allowance, claiming that it was issued without the required notice and hearing in violation of procedural due process.
Davao City Hall

Digitalization, EAGA trade named Davao business chamber’s top priorities

DAVAO CITY’S business leaders are looking to regain the growth momentum lost last year due to the coronavirus pandemic, with digitalization and stronger trade ties in the sub-regional grouping known as the East ASEAN Growth Area (EAGA) among the priorities.

Decarbonizing for a better working world

Climate change is an urgent issue and taking action is critically necessary to limit and reduce global carbon emissions. Businesses in particular will need to consider their own carbon footprint. With collective technological capabilities, financial resources, innovative capacity and global reach to search for solutions towards a low-carbon future, many businesses worldwide are setting carbon reduction targets, progressing towards net zero. In fact, just last week EY Global Ltd. (of which SGV is a member firm) announced its plans to achieve negative carbon emissions in 2021 and net zero by 2025.

Duterte urged to allow navy to join drills in South China Sea

PRESIDENT Rodrigo R. Duterte should let the Philippine Navy join war games in the South China Sea after China passed a law allowing its coast guard to fire at foreign vessels in the disputed waterway, political analysts said.

Philippines to get 5.6M vaccines from Pfizer and AstraZeneca in Q1

THE PHILIPPINES will take delivery of at least 5.6 million doses of coronavirus vaccines from Pfizer, Inc. and AstraZeneca Plc this quarter under a global initiative that ensures equal distribution, according to the country’s vaccine czar.

Nationwide round-up (01/31/21)

VACCINES and medicines for the coronavirus disease 2019 (COVID-19) will be exempted from value-added tax (VAT) under the second package of the government’s proposed tax reform program, which is expected to be ratified by Congress on Tuesday.

Regional Updates (01/31/21)

THE town of Cordova in Cebu’s Mactan Island now has a mangrove propagation center that also features a view deck for bird watching.

Unrealistic economic forecasts

Frequent changes and unrealistic figures have made it difficult to believe the government’s economic forecasts.

Another way of solving the pork price crisis

Several national and local government agencies — the Department of Agriculture, the Department of Trade and Industry, the Metro Manila Development Authority, and the National Capital Region mayors — recommended that President Rodrigo Duterte order that pork prices be held below P300 a kilogram. Last I heard from household pork buyers was that the going retail price was reaching P400 a kilogram, about a 77% jump over its 2019 level.

How the QAnon conspiracy seduces normal people

QANON is such a weird theory that it’s tempting to think humanity is getting dumber. But it’s better seen as a highly sophisticated way of manipulating people. QAnon may one day be considered a masterpiece of propaganda.

Australia reopens NZ ‘travel bubble’

SYDNEY —  Australia reopened its “travel bubble” with New Zealand (NZ) on Sunday after the neighboring country reported no new locally acquired COVID-19 cases, but added new screening measures as it marked its longest infection-free run since the outbreak began.

UK offers Hong Kong residents route to citizenship

HONG KONG — Hong Kong residents can apply from Sunday for a new visa offering them an opportunity to become British citizens after Beijing’s imposition of a national security law in the Asian financial hub last year.

Germany now ordering vaccines for 2022

BERLIN — Germany is ordering vaccines for 2022 in case regular or booster doses are needed to keep the population immune against variants of COVID-19, Health Minister Jens Spahn said on Saturday, amid growing frustration in Europe at the slow pace of vaccination.

Los Angeles Lakers fend off late Boston Celtics’ flurry, 96-95

ANTHONY Davis had 27 points and 14 rebounds in his return from a quad injury, LeBron James scored 21 and the Los Angeles Lakers survived a late rally by the host Boston Celtics to win 96-95 Saturday night.

SBP working on Gilas Pilipinas requirements for Doha window of the Asia Cup Qualifiers

FROM busy preparing as host of the third window of the FIBA Asia Cup Qualifiers (ACQ) here, the Samahang Basketbol ng Pilipinas (SBP) is now turning its attention to working on the requirements of the Philippine national men’s basketball team for the now-relocated event in Qatar.

Aussie Open to be allowed 30,000 fans

SYDNEY — The Australian Open will be allowed to admit up to 30,000 fans a day, around 50% of the usual attendance, when the Grand Slam gets underway on Feb. 8, Victoria state sports minister Martin Pakula said on Saturday.

Bettor places $2.3-M wager on Bucs to cover in SB LV

ONE bettor apparently is taking Bruce Arians’ “No risk it, no biscuit” mantra to heart.

Luck out

The Lakers headed into their set-to yesterday bent on snapping out of their first losing run of the 2020-21 season of the National Basketball Association. The fact that they managed to go through a full fourth of their campaign to defend their title before suffering from consecutive setbacks may well be deemed an achievement by some quarters, but not by them. For all the handicaps that came with the shortest turnaround in league history, they understood both the privilege and the burden of the embarrassment of riches their roster provides. And so their objective yesterday was clear; they had to win, period.

Philippines cheers bishops’ offer to help allay COVID-19 vaccine fears

MANILA - The Philippines' health ministry on Sunday welcomed the offer of the country's group of Catholic bishops to help in the coronavirus vaccination...

Duterte signs law strengthening anti-money laundering regulations

President Rodrigo R. Duterte on Friday night signed a law giving authorities more power to go after suspected cases of money laundering, a move...

$4.2B in ‘hot money’ exits the Philippines in 2020 amid pandemic

Over $4 billion in foreign portfolio investments (FPI) left the Philippines last year amid the coronavirus pandemic. “Hot money,” called as such for the ease...

PHL economy faces ‘slow start’ this year

The Philippine economy will face a "slow start" in 2021 as key areas remain under community quarantine, Acting Socioeconomic Planning Secretary Karl Kendrick T....

E-commerce seen to contribute P1.2 trillion to PHL economy by 2022

The e-commerce sector could contribute P1.2 trillion to the economy by 2022, representing 5.5% of the gross domestic product (GDP), according to the government’s...

Cordillera goes under stricter quarantine in Feb.

Because of the increasing number of new coronavirus disease 2019 (COVID-19) cases in the area, provinces in the north-central part of Luzon will be...

Gov’t loosens travel restrictions for inbound passengers

Malacanang on Friday said that the government’s task force against the coronavirus will relax travel curbs on foreigners coming from more than 30 countries...

Health department reports 1,849 new COVID-19 cases

The Department of Health on Friday reported 1,849 new coronavirus disease 2019 (COVID-19) cases on Thursday, bringing the total number of cases in the...

Baguio chief’s resignation as contact tracing czar rejected

Baguio Mayor Benjamin B. Magalong tendered his resignation as contact-tracing czar after he admitted having attended a party in a Baguio City hotel where...

PHL says may benefit from any pivot to Asia by Biden administration

The Philippines may benefit if there is a renewed emphasis on Asia by the administration of US President Joe Biden, which could help act...

Over 2,000 km of tourism roads completed – DPWH

The Department of Public Works and Highways (DPWH) on Friday reported the completion of a number of road projects which aim to improve access...

TUCP calls for wage subsidy in the wake of dismal GDP news

After Thursday’s announcement that the country experienced its worst economic decline since World War 2 last year, the Trade Union Congress of the Philippines...

BSP-approved foreign loans surged to $17.7 billion in 2020

THE BANGKO SENTRAL ng Pilipinas (BSP) approved $17.7 billion in foreign loans last year mainly meant to support the government's response to the coronavirus...

Central bank awards P100 billion in 28-day bills

THE BANGKO SENTRAL ng Pilipinas (BSP) fully awarded P100 billion in short-term securities on Friday as the financial system remains flush with liquidity. The BSP's...

DoF backs transfer of PDIC to central bank

THE Department of Finance (DoF) has signified its support for a proposal to transfer the state deposit insurer — its attached agency — to...
1000 peso bills

Peso up as Wall Street rebounds

THE PESO strengthened against the greenback on Friday as US stocks rebounded following sharp losses. The local unit gained three centavos to close at P48.08...

Toyota Philippines expects industry sales to rebound this year

The car industry is expecting a rebound in sales this year, targeting to sell 320,000 units on the back of improved demand, Toyota Philippines...

Lucky Me! maker weighs $1-billion Philippines IPO

Philippine food maker Monde Nissin Corp. is exploring a potential initial public offering in Manila that could raise as much as $1 billion, according...

AC Energy lists new shares

AC Energy Corp. concluded its stock rights offering with the listing of 2.2 billion common shares at the Philippine Stock Exchange (PSE) on Friday,...

DoE taps Australian firm to explore Philippines’ hydrogen potential

The Department of Energy (DoE) and Australian-based research firm Star Scientific Ltd. inked an agreement to study hydrogen as a possible source of power...