Home 2021 January 6

Daily Archives: January 6, 2021 | 9:00 pm

Peso climbs further as sentiment improves

THE PESO strengthened against the greenback on Wednesday backed by risk-on sentiment following the extension of key measures for the government's pandemic response as well as a likely Democrat win in the Georgia senatorial runoff elections.

Shares drop further on inflation data, virus fears

SHARES declined on Wednesday as market sentiment was hit by data showing faster inflation and the continuous spread of the coronavirus disease 2019 (COVID-19) across the world.

Philippines still untouched by more contagious strain — DoH

A MORE contagious coronavirus strain that has caused a fresh surge in cases in Europe has yet to reach Philippine shores, Health authorities said on Wednesday.

Pfizer to get green light for emergency use application soon

THE PHILIPPINES is expected to grant the emergency use authorization for the coronavirus vaccine developed by Pfizer, according to the chief of the local Food and Drug Administration (FDA).

General who led coup against two former presidents dies at 65

DANILO D. Lim, a general who led separate coups against former Presidents Corazon C. Aquino and Gloria Macapagal Arroyo in 1989 and 2007, has died. He was 65.
House of Representatives bldg

House leaders meet to revive cha-cha push

House of Representatives leaders met on Wednesday to revive a push to change the Constitution, including easing  foreign ownership limits. Party-list Rep. Alfredo A. Garbin,...

Regional Updates (01/06/21)

TWO river control projects to protect two low-lying villages in Cagayan de Oro City from flooding, with a combined cost of P120 million, have been completed by the Department of Public Works and Highways (DPWH).

Nationwide round-up (01/06/21)

THE Senate will prioritize the bill that will defer the scheduled rate increase for Philippine Health Insurance Corp. (PhilHealth) contribution when sessions resume, a Senate leader said on Wednesday.

Duterte signs bills extending budget, Bayanihan II validity

PRESIDENT Rodrigo R. Duterte signed measures extending the validity of the funds authorized by the 2020 national budget as well as those appropriated for the government’s second stimulus package.

PHL, India return to pre-pandemic levels by end-2022 uncertain

MOODY’S ANALYTICS said the recovery in the Philippines and India will lag the rest of the Asia-Pacific (APAC), with both countries struggling to restore their economies to pre-pandemic levels by the end of next year.

Peak power demand in 2021 seen exceeding pre-lockdown levels

PEAK POWER demand in 2021 is expected to hit 16,333 megawatts (MW), topping the 15,282 MW high from 2020, which was recorded before the lockdowns were imposed, the Department of Energy (DoE) said.
assembly line

DTI says safeguard duties to protect domestic jobs

TRADE Secretary Ramon M. Lopez disputed the auto industry’s claims of potential job losses caused by safeguard duties on car imports, countering that the duties are designed to protect manufacturing jobs rather than those of importers.

Quality certification ordered for two steel products

THE GOVERNMENT will require quality certifications for two more types of steel — hot-dip metallic-coated and pre-painted galvanized steel in coil and sheet form — before they are allowed for sale.

BIR to comply with SC TRO against collecting POGO franchise tax

THE Bureau of Internal Revenue (BIR) will comply with the Supreme Court’s (SC) ruling barring it from collecting the 5% franchise tax on Philippine Offshore Gaming Operators (POGOs).

Estrella-Pantaleon bridge seen completed in second quarter

THE Department of Public Works and Highways (DPWH) said Wednesday that the P1.46-billion Estrella-Pantaleon Bridge project connecting Makati City and Mandaluyong City is expected to be completed in the second quarter.
irrigation system

NIA revamp proposed following loss of irrigation revenue

THE Philippine Institute for Development Studies (PIDS) said in a study that changes are needed in the function and staffing of the National Irrigation Administration (NIA) to effectively operate in a free-irrigation environment.

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Starting the year right

January, from the Latin “Ianuarius,” was named after Janus, the god of beginnings and transitions in Roman mythology.

Standout PBA ‘bubble’ performers to be feted

PLAYERS who performed well in the lone Philippine Basketball Association (PBA) tournament last season will be spotlighted in awarding ceremonies later this month.

No Zlatan, no problem as Milan rated Europe’s most improved team

EVEN with Zlatan Ibrahimović sidelined through injury, AC Milan have maintained their early season form and improved more than any other team in Europe in the last year, according to the Euro Club Index football ranking from Nielsen’s Gracenote.

Olympic hopeful Nesthy Petecio rues lost time to train

WITH her push to book a spot in the rescheduled Olympic Games in Tokyo greatly affected by the coronavirus pandemic, national boxing team member Nesthy Petecio laments the lost opportunity, but vows to make up for it as she gears up to resume full training and preparation.

Sports tourism movers and shakers honored recently

DESPITE activities and various affairs rendered limited by the coronavirus, organizers of the Philippine Sports Tourism Awards (PSTA) still got to stage the fourth edition of the event, honoring movers and shakers of the industry.

A Tokyo emergency will be a bad omen for the world’s 2021

THERE’S MORE at stake in Tokyo’s prospective emergency measures to contain the coronavirus than the fate of the metropolis’s great bars and restaurants. Bullish scenarios for a muscular global economic rebound may have to be reassessed.

Training for the jobs of the future

As we start 2021, COVID-19 is still with us, along with the many changes it has prompted in the way we do things. Many parents are still doing work from home, as children also do school from home. Public transportation is still limited, and people are still encouraged to just stay home unless in need of essential goods or services. Many places and business have remained closed.

Welcoming a new year

I WILL TRY to avoid using the word “positive” when referring to my outlook for 2021. It causes people to walk away with a look of dread. No use clarifying it’s not a medical term but an optimistic view of the coming year. How could it not be better than 2020?

Dozens of HK activists arrested under security law as crackdown intensifies

HONG KONG — Hong Kong (HK) police arrested dozens of leading democratic activists on Wednesday on suspicion of violating the city’s controversial security law in the biggest crackdown yet against the opposition camp since Beijing imposed the law in 2020.

N.Korea’s Kim says economic plan failed ‘tremendously’

SEOUL — North Korean leader Kim Jong Un said his five-year economic plan had failed to meet its goals “on almost every sector” as he kicked off a congress of the ruling Workers’ Party, state media KCNA reported on Wednesday.

Video-on-demand subscriptions to reach two billion by 2025

There will be nearly two billion active global on-demand video service subscriptions by 2025—a 65% increase over the end of 2020—according to a report released this January by Juniper Research, an analyst house specializing in digital technology market research. 

China’s bottled-water king is now richer than Warren Buffett

Zhong Shanshan is setting new wealth records.

Globe Subsidiary, Cascadeo, Wins Managed Services Provider of the Year

Globe’s recently acquired professional and managed services arm, Cascadeo, won Managed Services Provider (MSP) of the Year at the Channel Partner Insight Innovation Awards...

WHO recommends two doses of Pfizer COVID-19 vaccine within 21–28 days

GENEVA/ZURICH — People should get two doses of the Pfizer and BioNTech vaccine within 21–28 days, the World Health Organization (WHO) said on Tuesday, as many countries struggled to administer the jabs that can ward off the COVID-19 virus.

Why is Bitcoin’s price at an all-time high? And how is its value determined?

Bitcoin continues to trade close to its all-time high reached this month. Its price is now around US$34,000—up about 77% over the past month...

World Bank sees global output up 4% in 2021, flags downside risks

WASHINGTON — The global economy is expected to expand 4% in 2021 after shrinking 4.3% in 2020, the World Bank said on Tuesday, although...

SM Foundation opens scholarship online application for SY 2021-2022

SM Foundation (SMFI) invites incoming college freshmen to apply for the SM College Scholarship program for School Year 2021-2022 via its online application portal...

Inflation picks up as food costs spike

ANNUAL INFLATION quickened to a 22-month high in December, driven by a surge in food and transport prices during the holiday season, the Philippine Statistics Authority (PSA) said on Tuesday.

Headline inflation rates in the Philippines (December 2020)

ANNUAL INFLATION quickened to a 22-month high in December, driven by a surge in food and transport prices during the holiday season, the Philippine Statistics Authority (PSA) said on Tuesday.

BSP to keep rates low ‘for next few quarters’

BENCHMARK interest rates will remain low “for the next few quarters” to support the virus-stricken economy, but unlikely to cross negative territory, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Tuesday.

Factory output down for 9th straight month in Nov.

THE country’s manufacturing output extended its losing streak for the ninth consecutive month in November, the statistics agency reported on Tuesday.

Japanese firms in PHL expect profits to improve this year

MOST Japanese companies in the Philippines expect the economy to recover from the coronavirus disease 2019 (COVID-19) pandemic this year, with 60% anticipating an improvement in operating profits. 

Job cuts seen as gov’t slaps car import duties

THE duties slapped on imported vehicles will delay the sector’s recovery and put jobs at risk, car manufacturers said, as they warned of other possible repercussions such as weakened trade relations and competitiveness.

Megawide gains support for NAIA rehab

BUSINESS groups from Cebu added their voice to calls to give Megawide Construction Corp. and its foreign partner a chance to rehabilitate the Ninoy Aquino International Airport (NAIA).

Merger and acquisition deals hit P909 billion in 2020

THE Philippine Competition Commission (PCC) reviewed P909 billion in 26 mergers and acquisitions transactions last year, approving 20.

Shakey’s set to open first branch in Singapore

SHAKEY’S PIZZA Asia Ventures, Inc. (SPAVI) is set to open its first store in Singapore after signing a seven-year franchising agreement with Brenrich Pte. Ltd.
Department of Energy (DoE)

Energy dep’t to award hydro, geothermal contracts in April

THE Department of Energy (DoE) targets to award the contacts for geothermal and hydropower projects under the third round of its open competitive selection and bidding process, or OCSP3, by April 14, it said in a detailed timeline released on Tuesday.

BTr fully awards reissued bonds as high liquidity boosts demand

THE GOVERNMENT made a full award of the reissued Treasury bonds (T-bonds) it offered on Tuesday and even opened its tap facility as the tenor’s yield dropped amid strong liquidity in the market.

SMC says its tollways are ready to go 100% cashless by Jan. 11

SAN MIGUEL CORP. (SMC) on Tuesday said its tollways are ready to go 100% cashless by Jan. 11 after it hit its target to open 156 new radio-frequency identification (RFID) installation stations before the end of December.