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Daily Archives: January 7, 2021 | 9:00 pm

PSE BGC bells

PSEi up as Democrats gain control of US Senate

PHILIPPINE SHARES closed higher on Thursday as market sentiment was lifted after the Democratic Party gained control of the United States (US) Senate and on the better showing of US markets.

Peso retreats as oil prices rise

THE PESO weakened against the greenback on Thursday as oil prices rose, threatening a higher import bill for the country.

Velasco files House measures to suspend PhilHealth, SSS rate hikes

SPEAKER Lord Allan Q. Velasco on Thursday filed House Bill (HB) No. 8316, which authorizes the President to suspend scheduled increases in member contributions to the Philippine Health Insurance Corp. (PhilHealth) “in times of national emergency or when the public interest so requires.”
oil search galoc

Private sector to take lead role in building LNG infrastructure

THE Department of Energy (DoE) said it expects the private sector to take the lead in building out the country’s liquefied natural gas (LNG) infrastructure, including terminals to receive imports, and will back efforts to “encourage” private groups to engage in such projects.

DAR announces P2-B lending program for farmers

THE Enhanced Partnership Against Hunger and Poverty (EPAHP) program and the Department of Agrarian Reform (DAR) launched a new lending program that aims to support agrarian reform beneficiaries organizations to enhance food security initiatives.

Three departments tasked to identify key projects eligible for regulatory relief, waivers

THE Departments of Environment and Natural Resources (DENR), Trade and Industry (DTI) and Finance (DoF) will form a committee to identify critical private-sector projects deemed crucial to the post-pandemic landscape which will be eligible for regulatory relief.

Security of data touted as possible competitive edge

THE ABILITY of companies to keep data secure could emerge as a competitive advantage during the migration to online business processes, now that businesses can devote more time to privacy issues after exiting from survival mode during the early days of the lockdown, according to Singapore technology company Straits Interactive Pte. Ltd.

Domestically produced energy output up 3% in 2019, led by coal

DOMESTICALLY PRODUCED energy output on an oil-equivalent basis rose 3% in 2019, led by coal, according to a report issued by the Department of Energy (DoE).

BFAR seizes nine vessels in Quezon for illegal fishing

THE Bureau of Fisheries and Aquatic Resources (BFAR) said it seized nine commercial fishing vessels in Mauban, Quezon for using illegal fishing methods.

Fresh push to change charter a ‘waste of time,’ likely to fail

OPPOSITION senators on Thursday thumbed down a fresh push at the House of Representatives to change the Constitution, saying it was likely to fail and waste lawmakers’ time.

Domestic worker who tested positive in HK for virus strain stable

A WOMAN in Hong Kong (HK) who tested positive for a more contagious coronavirus strain is a Filipina domestic worker who had come from the Cagayan Valley region in northern Philippines, according to the Department of Health (DoH).

Court asked to junk drug charges against Duterte critic De Lima

DETAINED Senator Leila M. de Lima has asked a Muntinlupa City trial court to dismiss one of her three drug-related charges after prosecutors allegedly failed to prove her guilt.

Nationwide round-up (01/07/21)

A RESOLUTION seeking to look into consumer protection programs implemented by the Bangko Sentral ng Pilipinas (BSP) and banks will be filed in the Senate after the P1-million credit card hacking incident involving a senator.

Regional Updates (01/07/21)

THE evidence submitted by the police were “not sufficient” to warrant filing of charges against the individuals tagged in the death of 23-year old flight attendant Christine Dacera, the prosecution said.

Loss aversion, economic scars and economic prospects

By this time, we should already be familiar with how we fouled up our handling of the viral pandemic. It all started with years of neglect of the public health system. We also failed to act promptly on the brewing Wuhan threat. After crossing the border, the virus simply brushed off our less than desirable level and quality of testing, tracing, quarantining, and treating. Finally, our lack of vaccination policy has further eroded consumer and business confidence because somebody dropped the ball. What follows is an abject lesson in theatrical obfuscation.


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Preparing for 2022

May 2022 is all of 17 months away, but the politicians are acting as if the elections then were about to take place tomorrow.

Economy-wide shift to telework post-COVID? Not quite.

THE COVID-19 pandemic has sent shockwaves across the globe, and workplaces are among the most severely affected by the crisis.

Congress certifies Biden’s win after day of violence

JOE BIDEN was formally recognized by Congress as the next US president early Thursday, ending two months of failed challenges by his predecessor, Donald Trump, that exploded into violence at the US Capitol as lawmakers met to ratify the election result.

US, Japan set for recovery in second half of 2021, IMF chief economist says

WASHINGTON — Economic stimulus approved in the United States and Japan at the end of last year will help to power a recovery in their economies in the second half of 2021, International Monetary Fund (IMF) chief economist Gita Gopinath said on Wednesday.

China reports most COVID cases in over five months

SHANGHAI — Authorities in the capital of China’s Hebei province strengthened travel restriction on Thursday to curb the spread of the coronavirus as the country reported the biggest rise in daily coronavirus disease 2019 (COVID-19) cases in more than five months.

Olympic hopefuls gear up for ‘bubble’ training

IF plans push through as expected, Filipino athletes vying for a spot in the rescheduled Olympic Games could begin returning to face-to-face training beginning this weekend.

Adiwang views new year with excitement, hope

ARMED with the lessons of the previous year, Filipino mixed martial arts fighter Lito “Thunder Kid” Adiwang is looking at 2021 with much excitement and hope.

Messi shines as impressive Barça win in Bilbao

BILBAO, Spain — Lionel Messi was at the top of his game as Barcelona earned a 3-2 win at Athletic Bilbao on Wednesday to move up to third in La Liga.

Bradley Beal’s 60 not enough as Wizards fall to Sixers

JOEL Embiid scored 38 points and hit all 13 of his free throws to lift the host Philadelphia 76ers past the Washington Wizards 141-136 on Wednesday.

PESO partners with Mineski to promote youth opportunities in growing esports industry

PILIPINAS E-Sports Organization (PESO), the National Sports Association for esports in the country recognized by the Philippine Olympic Committee, recently formalized a partnership with Pillar Digital E-Commerce, Inc., the parent company of Mineski Philippines, to officially accredit Mineski’s Youth Esports Program (YEP) as one of PESO’s flagship activities in 2021 to promote the growth of esports among its local stakeholders.

City outclasses United in Manchester derby to reach League Cup final

MANCHESTER, England — Manchester City reached their fourth straight League Cup final as second-half goals from John Stones and Fernandinho gave Pep Guardiola’s side a 2-0 win over Manchester United in Wednesday’s semi-final at Old Trafford.

Rebuilding mode

For National Football League fans, Week 17 has always been hotly anticipated. It’s when playoff seedings are decided, when the scrambling for continued relevance becomes most pronounced, when the run-up comes to a head. And, all things considered, the current season’s iteration didn’t disappoint. Yet, as much as the flurry of activity invariably brought celebration to some quarters and disappointment to others, the spotlight most shone on a development engineered by protagonists whose immediate fate wasn’t affected.

Airlines try ultra-cheap fares to get the world flying again

The nightmare year of 2020 brought the airline industry’s first decade of sustained profitability to a shuddering halt. The coronavirus pandemic tore through in a tumultuous, unprecedented way, leaving carriers in a deep hole, along with a constellation of aerospace manufacturers, airports, and leasing firms.
poverty slum area

Scaling roofs and mountains, students battle to take online classes

Since the pandemic forced him into remote learning, 10-year-old Jhay Ar Calma has often had to climb on to the corrugated iron roof of his home in a poor neighborhood of Manila to get Internet service.

Bank lending to plastics industry faces scrutiny as pollution concerns mount

LONDON — Banks have provided $1.7 trillion of finance to 40 companies in the plastics supply chain without imposing any requirements to tackle plastic pollution pouring into the world’s rivers and oceans, according to a report published on Thursday.

How safe is it to switch and space COVID-19 vaccine doses?

LONDON/CHICAGO — Britain and other nations are considering ways to stretch scarce supplies of COVID-19 vaccines, including by delaying second doses, reducing dose sizes, and switching vaccine types between the first and second shots.

Corporate group urges officials consider Trump’s removal ‘to preserve democracy’

WASHINGTON — The head of a major US business group that represents 14,000 companies including Exxon Mobil Corp., Pfizer Inc., and Toyota Motor Corp....

Elon Musk close to surpassing Jeff Bezos as world’s richest person

Elon Musk, the outspoken entrepreneur behind Tesla Inc. and SpaceX, kicked off the new year by homing in on a characteristically audacious title: the...

Local space venture gears up for first rocket launch

By Patricia B. Mirasol Orbital Exploration Technologies, Inc. (OrbitX), the country’s first commercial space venture, is targeting 2023–2024 for its first launch. Its rocket, the...

BSP grants new P540-B loan to gov’t

THE Bangko Sentral ng Pilipinas (BSP) has granted a fresh P540-billion loan to the National Government to boost pandemic relief funds.

Outstanding debt rises to P10.13T as of end-Nov.

THE government’s outstanding debt further rose to P10.13 trillion as of end-November as it continued to raise much-needed funds for its efforts to respond to the coronavirus disease 2019 (COVID-19) pandemic.

Implementation of short selling may be ‘challenging’

THE much-awaited implementation of short selling may face challenges, as the local stock market is still “very illiquid” and remains small compared with other markets, experts said.

PHL seen to post 2nd worst slump in East Asia

THE WORLD BANK said the Philippine economy likely saw the second-worst slump in the developing East Asia and the Pacific region last year, due to the extended lockdowns and a prolonged coronavirus disease 2019 (COVID-19) outbreak.

AREIT buys 9.8-hectare land in Laguna Technopark

AREIT, Inc. has acquired 9.8 hectares of land owned by Technopark Land, Inc. (TLI) in a move that could help boost its income generation capabilities.
GMA

GMA Network sets over P20-B for capex, content cost for 2021-2023

GMA NETWORK, Inc. has allocated more than P20 billion for capital expenditures (capex) in 2021 until 2023, it said on Wednesday.

Converge ICT network now ‘stronger and more resilient’

CONVERGE ICT Solutions, Inc. announced on Wednesday an improvement in its network, saying it now has a better ability to address outages.

PHL is 4th in region for women with most leadership posts

THE PHILIPPINES ranked fourth in Southeast Asia in a study measuring the percentage of women holding leadership positions in e-commerce companies, online shopping company iPrice Group said.

Yields on term deposits decline on post-holiday demand surge

YIELDS ON term deposits offered by the Bangko Sentral ng Pilipinas (BSP) slipped on Wednesday as demand picked up following the holidays and with the financial system still awash with liquidity.

Alegria oil field cannot supply fuel on a national scale, DoE official says

PRODUCTION capacity of the onshore Alegria oil field in Cebu is not enough to supply fuel on a regional and national level, a Department of Energy (DoE) official said on Tuesday.

What are you doing after New Year’s Eve?

Cooking up the leftovers IT’S BEEN just a week since your New Year’s Eve dinner, and we’re sure you’ve got a full fridge. We trust...