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Global COVID-19 cases surpass 75 million

GLOBAL coronavirus infections surpassed the 75 million mark on Saturday, according to a Reuters tally, as several nations around the world begin vaccinating against the virus.

Britain this month became the first Western country to start immunizing with the coronavirus disease 2019 (COVID-19) vaccine developed by Pfizer and its German partner BioNtech, followed by the United States which has now also approved a vaccine from Moderna .

There have been 18.65 million new cases in the past month, the highest reported for a 30-day period since the pandemic started.

Europe remains the region with the most cases — 21.6 million cases — followed by North America with 17.9 million, Latin America with 14.5 million and Asia with 13 million.

In Europe, a million new cases were recorded over just five days, with Russia and France reporting more than 2 million cases since the coronavirus outbreak began. The United Kingdom and Italy both have approximately 1.9 million cases each.

The United States became the first country in the world to record more than 300,000 deaths on Monday. The nation is reporting more than 2,500 deaths daily, according to a Reuters analysis of data from the previous seven days.

Hospitals across the US have begun giving the first shots of the Pfizer-BioNtech vaccine.

The United States remains the country with most cases – more than 17 million since the outbreak started – followed by India and Brazil respectively. With just 4% of the world’s population, the US has about 23% of all global cases.

Brazil registered a single-day record of 70,000 new cases on Wednesday, joining the United States and India as the only countries to have reported more than 7 million total infections. With almost 180,000 confirmed fatalities, the South American nation has the second-highest death toll in the world.

On Saturday, India exceeded 10 million coronavirus infections. India has prepared to deliver 600 million doses of COVID-19 vaccines to the most vulnerable people in the next six to eight months. — Reuters

Singapore probes 13 infections among quarantine cases at hotel

Singapore is investigating 13 cases of COVID-19 infections among people who served their quarantine at a hotel along the city’s Orchard Road shopping strip.

The cases, all imported, had “high genetic similarity” despite the victims arriving from 10 different countries, the government said in a statement on Saturday. Singapore said it conducts whole genome sequencing and phylogenetic analysis on all COVID-19 cases, and it takes about four weeks to culture the virus and complete the sequencing.

The people were confirmed between Nov. 2–11 to have COVID-19, and had stayed at the Mandarin Orchard Singapore hotel between Oct. 22 and Nov. 11. They arrived from places including Bahrain, Canada, Indonesia, Myanmar, Netherlands, the Philippines, South Korea, the UAE, the UK, and the US.

“Epidemiological investigations were immediately initiated to determine if there is a potential link between these 13 cases, and to study if transmission could have occurred locally, and not from their country of origin,” according to the statement. From “preliminary investigations, we cannot exclude that transmissions could have occurred at Mandarin Orchard Singapore.”

Authorities are conducting analysis on more cases beyond Nov. 11. The hotel had stopped taking visitors for quarantine purposes since Dec. 13. Those currently serving their so-called stay-home notice will be sent to another facility, the government said.

The Mandarin Orchard is one of the hotels approved by authorities to offer staycation packages to Singapore residents eager for a break and unable to leave the country because of travel restrictions. While those on quarantine are housed on dedicated floors and segregated from other guests, the hotel will check out all occupants as a precautionary measure, and close all restaurants and event spaces.

The health ministry is also testing about 500 employees of the hotel for COVID-19.

For the past two months, the number of infections in the community has been at or near zero in the city-state of 5.7 million people. — Wes Goodman/Bloomberg

Looking for gift ideas for the holidays? Give your loved ones peace of mind

The year has not gone according to plan for anyone. If nothing else, 2020 highlighted how unpredictable life can be, and many Filipinos had to live with the weight of that uncertainty. In the worst cases, many have lost jobs, even their lives.

Yet, the Filipino spirit is nothing if not resilient. Given the current state of affairs, celebrations are all the more meaningful, and with the holiday season right around the corner, there is no better time to spread joy among loved ones and ease their worries.

This is why award-winning life insurance provider FWD is offering Filipinos the most fitting gift to end the year: a convenient, affordable, and accessible way to give your loved ones peace of mind.

FWD’s Set for Health and Set for Tomorrow Short Term Cover insurance plans are now available for online purchase at shop.fwd.com.ph, joining the lineup of best-value protection products for a wide variety of financial goals.

Set for Health is the only multi-claim critical illness insurance plan available online in the Philippines, that rewards you for staying healthy and covers you up to P1,000,000. Set for Tomorrow Short Term Cover is the only life insurance plan with rewards that you can buy online and provides coverage up to P5,000,000. Both plans are entitled to exclusive rewards of an FWD Card issued by Security Bank with zero maintaining balance and 1-year unlimited consultation at The Medical City Ortigas.

Interested customers can avail the benefits of cost, convenience, speed, safety, and service in one site, via an end-to-end online purchase platform—from discovery to application, to payment to the issuance of policy. Customers can also make payments based on their preferred option, via credit card, debit card, or GCash.

FWD’s online shop provides ease and simplicity to customers through a seamless process that can be done in 5 minutes. No lengthy medical questions. No medical exams. Transparency of product details is ensured, with all information available for customers right at the tips of their fingers.

FWD Life Insurance Corporation (FWD Insurance), part of pan-Asian FWD Group, had recently been honored at two prestigious international insurance awards for their leadership in technology and innovation in the insurance industry. FWD Insurance won the Digital Insurance Initiative of the Year at the 5th Asian Banking & Finance Insurance Asia Awards (IAA) while the International Data Corporation’s Financial Insights Innovation Awards (IDC-FIIA) 2020 named FWD Group as Best New Insurer in Asia.

To learn more, visit shop.fwd.com.ph.

BTr sells P6.56 billion in Premyo bonds

The Bureau of the Treasury (BTr) on Friday said it has raised P6.56 billion from the latest issuance of one-year peso denominated Premyo bonds.

“We are delighted that the Premyo bond sales reached P6.56 billion, exceeding not only the P3-billion target, but also surpassing the P4.96 billion we raised last year,” National Treasurer Rosalia V. De Leon said at the bond’s raffle draw streamed on the BTr Facebook page.

The papers, which require a minimum investment of P500, carry a coupon rate of 1.25%. Holders of Premyo bonds can also win cash prizes in quarterly raffle draws.

Ms. De Leon said interest was strong both domestically and abroad, particularly from overseas Filipinos and corporations.

“Investments were generated from 70 countries and overseas Filipinos accounted for 15.7% of the total number of transactions,” she said.

“We are also pleased to share that some corporations are now taking advantage of Premyo bonds as a meaningful way of rewarding employees during the Christmas season.”

Amid pandemic restriction measures, the bonds were made available through online selling platforms such as Bonds.PH and the Overseas Filipino Bank.

“Around 17.6% of individual accounts were made using our mobile app Bonds.PH and the Overseas Filipino Bank application,” Ms. De Leon said.

Moreover, Ms. De Leon said their offer period coincided with the 12.12 sale of major online retail platforms.

“Despite this, we are pleased to note that an increasing number of Filipinos still prioritized their future over the ephemeral joy of shopping,” she said.

The bond offer period ran from Nov. 11 to Dec. 11.

Selling agents for the offering include the Development Bank of the Philippines, BDO Capital and Investment Corp., First Metro Investment Corp., Philippine National Bank Capital, UnionBank of the Philippines and Land Bank of the Philippines.

The government’s gross borrowings reached P3.224 trillion in the 10 months to October. — Luz Wendy T. Noble

BSP to develop loan application form for MSMEs

By Luz Wendy T. Noble, Reporter

The central bank on Friday unveiled projects that will expand credit accessibility for small businesses next year, including a nationwide survey to gauge their needs and the development of standardized loan applications for the sector.

“We all recognize the critical role of MSMEs (micro-, small and medium-sized enterprise) as drivers of economic growth. The sector, however, has been constrained with access to formal finance,” Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said in an online briefing.

Mr. Diokno said they have identified constraints to lending and initiated plans to address pain points for banks and MSMEs.

In 2021, the BSP will conduct a nationwide MSME survey meant to address the information gap in the sector.

“Banks have generally viewed MSMEs as unbankable due to limited information on their market operations and viability, which lead to perceptions of high risks,” Mr. Diokno said.

Getting financing from a bank requires collateral and credit history to assess credit worthiness. Most MSMEs do not have these, which may prevent them from pursuing credit applications.

In this regard, Mr. Diokno said the survey, which will be rolled out in September 2021, aims to provide deeper insights into the MSME market to allow financial institutions to better gauge their needs.

“The demand-side survey is expected to generate more granular data on MSME access to finance; and new insights on MSME preferences and practices in managing their finances,” Mr. Diokno said.

The survey is co-initiated and funded by the Asian Development Bank. The multi-lateral agency was responsible for publishing the terms of reference for the engagement of the research firm for the project.

Meanwhile, Mr. Diokno said the standard, simplified loan forms for MSMEs, together with policies and guidelines, are also expected to be created in 2021. Industry adoption is expected to start by 2022.

“This is also intended to improve banks’ risk assessment and hasten turnaround time for loan applications,” Mr. Diokno said.

Earlier, the BSP also unveiled its plans to streamline the process for supply chain financing of MSMEs, allowing suppliers to credit access more easily, provided they are verified suppliers of large firms.

MSMEs make up about 99% of the roughly one million registered businesses in 2018, based on data from the Department of Trade and Industry.

Despite this, credit extended to the sector is only about 2.47% or P208.201 billion of the banks’ total loanable funds in the first quarter. This is lower than the 10% required under Republic Act No. 6977 or the Magna Carta for MSMEs.

BSP eyes higher threshold for annual PERA contribution

The Bangko Sentral ng Pilipinas (BSP) is backing a suggestion to increase the annual maximum allowable contribution of Filipinos in the Personal Equity and Retirement Account (PERA).

“You may note that the PERA Law was enacted in 2008, that was 12 years ago. And considering the effect of inflation, there may be scope to adjust the cap upward,” BSP Governor Benjamin E. Diokno said in a briefing.

Under Republic Act No. 9505, the maximum annual contribution is set at P100,000 while overseas Filipinos are allowed to pour in up to P200,000 a year in their PERA accounts.

The voluntary scheme is meant to complement mandatory contributions by public and private sector employees. Aside from providing an alternate retirement fund, PERA also offers tax incentives, including a five percent income tax credit on contributions which could be used for paying income tax liabilities.

“We support the suggestion to revisit the annual maximum contribution… We will coordinate with the Department of Finance and the Bureau of Internal Revenue, as this proposal will also have fiscal implications,” Mr. Diokno said.

The number of Filipinos investing in the PERA has increased since its digital platform was launched in September.

As of December 8, the number of PERA investors jumped by nearly 50% to 2,506 while additional contributions worth P18.9 million were funnelled into PERA products.

“The BSP is seeing early gains soon after PERA became digital. While figures
remain modest, the BSP is confident that the number will continue to grow as more
and more Filipinos are able to access PERA conveniently, anytime, anywhere,” Mr. Diokno said.

The government aims to attract five million Filipinos to join the voluntary retirement fund in the next five years.

Only 20% of the 7.6 million Filipinos aged 60 years and above are covered by state-backed mandatory pensions, based on data from the Philippine Statistics Authority. — Luz Wendy T. Noble

Asia trounces US in Health-Efficiency Index amid pandemic

As a pandemic ravaged the world, Asian economies led by Hong Kong and Singapore topped a ranking of most-efficient health care systems.

The Bloomberg Health-Efficiency Index, first conducted in 2013, tracks life expectancy and medical spending to determine which health-care systems have the best outcomes. This year’s results include the impact of COVID-19 on mortality and gross domestic product in 57 of the world’s largest economies.

These measures helped many Asian territories improve their standing on the list since their generally aggressive coronavirus responses kept cases and deaths relatively low. Brazil and Russia joined the U.S. in the bottom tier, reflecting relatively low life expectancies along with high COVID-19 mortality and weaker economic outlooks.

“Efficient health systems are often in places that have limited natural resources and therefore prioritize policies that rely on people potential,” said Pisonthi Chongtrakul, a professor in the Faculty of Medicine at Chulalongkorn University in Bangkok.

“Success in combating COVID-19 has come in places that coordinated among government bodies and were willing to let health experts call the shots, which helped create a clarity of public messaging,” he said.

To measure efficiency during the pandemic, two adjustments were made to the original ranking formula: the 2020 table includes the one-year change in GDP based on an October forecast by the International Monetary Fund, as well as the COVID-19 toll on each economy.

For example, a 2020 GDP contraction of 6% led to a 6 point subtraction from the total score, while a death toll or new confirmed cases of 100,000 deducted 11.5 points.

The U.S. ranks among the bottom 10% under this method as well as the formula used before COVID-19, which simply measured spending against life expectancy. America’s low scores reflect a middling average lifespan, the world’s biggest outlays on medical care along with the largest COVID-19 caseload.

Using the formula adjusted for the pandemic, eight of the world’s 10 most-efficient health systems are in Asia Pacific. Singapore and Hong Kong top the list, while Taiwan, New Zealand, South Korea and Thailand leapfrogged many territories based on their COVID-19 statistics.

“The pandemic has underscored the fact that economic health is dependent on public health, which is in turn dependent on adequate public spending on health,” said Poonam Khetrapal Singh, the World Health Organization’s South-East Asia director, in a Dec. 12 report.

“In ordinary times, every dollar invested in health yields an average return of between $2 to $4, which can be up to 20 times higher in low- and middle-income countries,” Singh said.

The rankings of France, Spain and Peru tumbled most among the 57 economies in Bloomberg’s 2020 adjusted-formula survey, which includes only those with average lifespans of at least 70 years, GDP per-capita exceeding $5,000 and a minimum population of 5 million. India doesn’t meet the minimum metrics, though it is among the nations hardest hit by the pandemic.

China, the world’s most-populous territory, ranked 25th using the pre-pandemic formula, but jumped to No. 12 when adjustments for COVID-19 were incorporated. The epicenter of the virus was also the place that used some of the most draconian measures — ranging from controlling peoples’ movements to mandatory testing — to limit cases and mortality.

All but two of the 57 economies in this index are expected to shrink in 2020, according to forecasts by the International Monetary Fund, with only China and Taiwan projected to post year-on-year growth.

The average lifespan in the U.S. is 78.5 years, having decreased for several consecutive years, according to the latest data. That is at near-parity with those in the U.A.E. and Cuba, where per-capita spending on health care is less than a tenth of the U.S.’s $10,246. Only Switzerland’s $9,956 expenditure is close — yet the average Swiss lives five years longer than their American peers. — Bloomberg

Displaced workers will continue to receive assistance under 2021 budget, senator says

Workers affected by the disruptions caused by the coronavirus pandemic will continue to receive assistance from the Department of Labor and Employment (DOLE) next year as a result of the interventions made by Congress in the proposed 2021 national budget, a senator said Friday.

Senator Juan Edgardo M. Angara, chairman of the Senate committee on finance, said the members of the bicameral conference committee on the 2021 General Appropriations Bill (GAB) were all in agreement that the workers affected by the pandemic should continue to receive some form of assistance from the government until next year because “many of them are still without jobs.”

“There are still many Filipinos who are economically struggling due to the loss of jobs caused by the pandemic. That is why we increased DOLE’s funds for the Tulong Panghanapbuhay sa Ating Disadvantaged or Displaced Workers Program (TUPAD), as well as the Government Internship Program (GIP),” Mr. Angara said in a statement.

The budget for TUPAD and GIP, Mr. Angara said, increased by close to 100%, from P9.93 billion under the National Expenditure Program to P19.036 billion in the final version of the spending plan.

TUPAD is a community-based package of assistance that provides emergency employment for displaced workers, underemployed and seasonal workers, for a minimum period of 10 days, but not exceeding a maximum of 30 days, depending on the nature of work to be performed.

GIP, on the other hand, aims to provide opportunities and engage young workers to serve the general public in government agencies/entities projects and programs at the national and local level. 

The economy is in the early stages of opening up again after months of little to no activity because of the restrictions imposed under the community quarantines.

Unemployment hit a peak of 17.6% in April before improving to 10% in July and to 8.7% in October. The October unemployment rate is equivalent to 3.8 million Filipinos without jobs or livelihood.

Also receiving an increase in the budget under DOLE is the Adjustment Measures Program (AMP), from P391.61 million under the NEP to P491.62 million in the GAB.

The DOLE-AMP is a nationwide safety net program that provides a package of assistance for distressed workers and companies. 

Other DOLE programs that were provided with budgetary support are the Integrated Livelihood Program, the Special Program for the Employment of Students, job search assistance programs, the child labor elimination program, and the national skills registry system.

Mr. Angara said the bicam also provided an additional P200 million for the Overseas Workers Welfare Administration’s emergency repatriation fund.

“We are optimistic that the economy will bounce back in 2021 as business operations and consumption start to normalize, especially with the COVID-19 vaccine on its way to mass distribution. But before more jobs become available again, the DOLE will be there to help the affected workers with its various programs that will be funded in the 2021 GAA [General Appropriations Act],” Mr. Angara said. — Kyle Aristophere T. Atienza

Beware of unauthorized COVID-19 vaccines — DOH

The Department of Health (DoH) warned the public against using unregistered coronavirus disease 2019 (COVID-19) vaccines after reports surfaced that unauthorized vaccinations were being done locally.

In a briefing on Friday, DoH Undersecretary Maria Rosario S. Vergeire said that these unregistered vaccines “could do more harm than good” especially since no COVID-19 vaccine has been approved by the local Food and Drug Administration (FDA).

“We cannot guarantee its safety or if it will be efficacious,” she said.

This came after reports of an anonymous businessman revealed underground vaccinations of the unregistered vaccines were being done in Metro Manila.

By law, any vaccine introduced to the market or used for the public must be approved by the FDA to ensure its safety. FDA regulation applies to food, drugs, household products, among others.

Vaccine manufacturers around the world are racing to roll out a vaccine against COVID-19, which has sickened millions globally and affected world economies.

On the other hand, China’s Sinovac Biotech Ltd. is close to securing its approval to conduct phase 3 clinical trials locally for its COVID-19 vaccine. Department of Science and Technology (DoST) Undersecretary Rowena Cristina L. Guevara said, “I think they are only short of one item with the FDA.”

Other vaccine makers who have applied locally to hold their clinical trials locally were Russia’s Gamaleya Research Institute of Epidemiology and Microbiology; Janssen Pharmaceutical Companies of Johnson & Johnson; and Clover Biopharmaceuticals.

Meanwhile, Ms. Guevara said that the DoST is preparing to join the World Health Organization’s solidarity trials for COVID-19 vaccines. Local trial sites are waiting for WHO protocols and the list of candidate vaccines that will be used during the trials. — Gillian M. Cortez

Foreigners who leave PH beginning December 17 will be allowed to re-enter — IATF-EID

The government’s task force against coronavirus disease 2019 (COVID-19) approved the re-entry of foreigners with permanent residence visas to the Philippines subject to certain conditions.

The Inter-Agency Task Force for the Management of Emerging Infectious Diseases said in Resolution No. 89 that foreigners who have passports that show they are permanent residents of the Philippines and have left for abroad temporarily “may be allowed entry into the Philippines, subject to the following conditions.”

The IATF-EID said the conditions will be the following: “a) they have valid and  existing visa on the date of arrival; b) with pre-booked quarantine facility; c) with pre-booked COVID-19 testing at a laboratory operating at the airport; and d) subject to the maximum capacity of inbound passengers at the port and date of entry.”

IATF-EID Spokesperson Harry L. Roque said in a statement on Friday that this will apply to foreigners who leave the Philippines starting December 17.

The IATF-EID said that the Bureau of Immigration will draft the guidelines on this and coordinate with airlines for this implementation. — Gillian M. Cortez

Senators seek probe into spate of EJKs in PH

Several senators are pushing for a Senate probe into the alleged spate of extrajudicial killings (EJKs) in the country, following the deaths of a medical professional and her husband in Central Visayas.

Mary Rose Sancelan, a doctor by profession, and her husband Edwin were shot dead in Brgy. Poblacion in Guihulngan City in Negros Oriental on Dec. 15. Before she was killed, Ms. Sancelan served as the head of the government’s anti-coronavirus task force in the city.

Human rights group Kaparatan earlier reported that Ms. Sancelan was included in a supposed anti-communist hit-list.

Senate Resolution No. 599, filed by Senator Risa N. Hontiveros-Baraquel, mandates appropriate committees in the upper chamber to investigate the vigilante killings “with the end view of attaining justice for the slain victims.”

The resolution, which also aims to restore law and order in the country, was co-signed by Senators Frank M. Drilon, Ralph G. Recto, Richard J. Gordon, Nancy S. Binay, Joel J. Villanueva, Francis N. Pangilinan, and Leila M. de Lima.

Ms. Hontiveros-Baraquel said the two latest victims of EJKs in the country are only few of the casualties of “a failing and senseless red-tagging campaign hellbent on crippling democracy.”

“I am alarmed that this anti-communist agenda reigned over the literal health and survival of the Filipino people,” she said in a statement Friday.

In the resolution, senators also cited other unlawful killings that occurred this year, including the murder of lawyer Jovencio Senados, who was killed on his way to work as Manila City Prosecutor’s Office’s Division Chief; the murder of peasant leader and activist Randall Echanis, who was gruesomely tortured before being killed; the murder of former Education Director of Karapatan Zara Alvarez; and the murder of elderly couple and former peace consultants Agaton Topacio and Eugenia Magpantay, among many others.

“The killings that occurred in the latter half of the year have set a disturbing trend of unidentified gunmen killing lawyers, doctors, journalists, and activists in broad daylight, without fear of arrest or apprehension. The increasing brazenness shows that the law enforcement authorities have lost control of the country’s peace and order,” Ms. Hontiveros-Baraquel said.

Senators urged the country’s law enforcement to work tirelessly, endlessly, properly, and lawfully to catch the assailants and to prevent more unlawful and vigilante killings from happening.

Data from Karapatan showed that at least 188 human rights defenders have been killed under the Duterte administration, while 426 activists and community organizers have already been arrested. — Kyle Aristophere T. Atienza

More than 2,000 new coronavirus cases reported

The Department of Health reported 2,122 new coronavirus cases on Friday, bringing the total to 456,562.

The death toll rose by 25 to 8,875, while recoveries increased by 778 to 420,666, it said in a bulletin.

There were 27,021 active cases, 5.1% of which were critical, 8.0% were asymptomatic, 2.5% were severe, and 0.31% were moderate.

Quezon City reported the highest number of cases at 160, followed by Rizal at 105, Bulacan at 91, Makati City at 83, and Davao City at 79.

The DOH said seven duplicates were removed from the total case count, of which five were reclassified as recoveries.

Four labs were unable to submit their data to the COVID-19 Data Repository System (CDRS) on Dec. 17, it added. — KATA

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