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THE Philippine economy is seen to significantly slow down this year, as the coronavirus (COVID-19) pandemic dampens domestic consumption and growth in trade and tourism, the Asian Development Bank (ADB) said on Friday.
HEALTH MAINTENANCE organizations (HMOs) can now submit their audited financial statements until June 30 from the original May 31 deadline as a relief for companies affected by the coronavirus disease 2019 (COVID-19) pandemic, the Insurance Commission (IC) said.
THE Asian Development Bank (ADB) rolled out its $5-million project to provide food to up to 55,000 poor households in Luzon affected by the month-long enhanced community quarantine (ECQ).
WELLA, a 20-year-old fresh nursing graduate, chose to stay and work at a private hospital in Manila that’s caring for several of the more than 2,000 coronavirus-stricken patients in the country.
THE government ordered all lenders to give a 30-day grace period for all loan payments that are falling due within the enhanced community quarantine (ECQ) period.
IMPORTED GOODS, supplies and equipment, including test kits and protective equipment needed for containing the coronavirus disease 2019 (COVID-19) outbreak, as well as imported materials needed to manufacture these products have been declared exempt from all taxes, duties and fees, the Bureau of Customs said.
THE Philippine economy is seen growing at a slower pace this year due to the fallout from the coronavirus disease 2019 (COVID-19) outbreak, and may even contract by as much as 0.5% if the Luzon-wide enhanced community quarantine will be extended, the World Bank said in a new report.
THE GOVERNMENT rejected all bids for the one-month Treasury bills (T-bills) it auctioned off on Tuesday as investors continue to ask for higher yields amid uncertainties caused by the coronavirus disease 2019 (COVID-19) pandemic.
THE Asian Development Bank (ADB) has approved a $5-million emergency grant for the Philippines’ fight against the coronavirus disease 2019 (COVID-19), the Department of Finance (DoF) said on Sunday.
THE ECONOMY is expected to “significantly” slow down in the first quarter after the government imposed lockdown measures that halted much economic activity, on top of global supply chain disruptions dating back from China’s COVID-19 outbreak, economists said.
THE Asia-Pacific gaming industry is bracing for “negative cash flows” as casino visits drop as governments prohibit large crowds during the COVID-19 outbreak, according to S&P Gobal Ratings.
THE Bank of the Philippine Islands (BPI) raised P33.9 billion from an oversubscribed issue of fixed-rate bonds, with the bank expecting clients to borrow more to weather the effects of the COVID-19 outbreak and lockdown.
THE Development Bank of the Philippines (DBP) said it is prepared to aid businesses and local governments with low-cost funding for their recovery efforts following the COVID-19 lockdown.
THE Insurance Commission (IC) ordered insurance firms and health maintenance organizations (HMOs) to extend for at least 30 days current policies and agreements expiring during the month-long enhanced community quarantine period.
THE COUNTRY is looking to borrow up to $2 billion from multilateral lenders to support increased spending to stem the impact of the coronavirus disease 2019 (COVID-19), the Finance chief said, adding the government’s fiscal position is sound and can accommodate larger debt to plug its budget deficit.
THE GROWTH of the Philippine bond market eased in the fourth quarter of 2019 after the stock of government bonds declined as some issues matured and amid lower issuances, according to an Asian Development Bank (ADB) report.
SOUTHEAST Asia has regressed on Sustainable Development Goals (SDGs) like promoting peaceful and inclusive societies and reducing inequality, a United Nations (UN) agency said.
THE LIFE INSURANCE sector will adopt a special management process for claims related to the new coronavirus disease 2019 (COVID-19) to help policyholders get assistance faster.
THE Department of Budget and Management (DBM) said the government procurement policy board (GPPB) has authorized a simplified procurement process to expedite transactions during the state of calamity declared in response to the COVID-19 outbreak.
CONGRESS on Monday sought to approve a measure that will give President Rodrigo R. Duterte special powers to address the national crisis triggered by the coronavirus disease 2019 (COVID-19) outbreak.
THE GOVERNMENT rejected all bids for the Treasury bills (T-bills) auctioned off on Monday as rates spiked with the offer undersubscribed as investors opted to hold cash amid the coronavirus disease 2019 (COVID-19) pandemic.
THE Bureau of Customs (BoC) said imported donations of personal protective equipment (PPE) will be exempt from Food and Drug Administration (FDA) clearance requirements to expedite their release to frontline personnel working to contain COVID-19 (coronavirus disease 2019).
GOVERNMENT SECURITIES on offer this week will likely fetch higher rates as investors prefer to hold on to their cash amid the rising number of coronavirus disease 2019 (COVID-19) cases in the country and its potential impact on the economy.