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PHL banks to see slower loan growth, higher bad loans amid...

THE BANKING INDUSTRY may see slower loan growth and an uptick in bad loans amid the economic impact of the coronavirus disease 2019 (COVID-19), with their credit ratings also likely to take a hit along with other banks in the region, according to S&P Global Ratings.

Helping the poor and hungry to survive the pandemic

During financial crises, we talk about “belt tightening.” In these days of pandemic stress, the catchphrase is “flattening the curve.” Regardless, it’s always the poor who suffer disproportionately from these necessary correctives. Thankfully, countries affected by COVID-19 including the Philippines are taking steps to support the poor and hungry, while trying to flatten the infection curve in the near term.

COVID-19 impact on a child

The COVID-19 global pandemic declared by the World Health Organization has become overwhelming and staggering in the number of growing cases and deaths worldwide. As of writing, there are now 1,026,974 confirmed cases and 53,975 deaths globally. In the country, 3,018 cases have been confirmed while 136 deaths were recorded.

Artists helping fellow artists

Think about our world during the enhanced community quarantine without the arts – no movies, no music, no online museums and galleries, no dancing, no designers making apps like TikTok or Houseparty, no free online concerts, no online art classes, no food shows, no YouTube, no theater plays and musicals available.

Filipino tech experts, DOST partner for rapid COVID-19 checkpoint verification

The DOST partners with DCTx to launch RapidPassPH, a quick verification system that aims to remove congestion, speed up vital deliveries, and protect frontliners via contact-free verification through Metro Manila’s 56 COVID-19 checkpoints.

Dashboard (04/06/20)

Ford partners with GE Healthcare to produce 50,000 ventilators 100 days Ford Motor Company, in collaboration with GE Healthcare, announced today it will begin producing...

COVID-19 deaths in PHL now at 136

THE Department of Health (DoH) reported that an additional 385 persons tested positive for coronavirus disease 2019 (COVID-19) positive cases on Friday, bringing the total to 3,018. Twenty-nine patients died, raising the total number of deaths due to the disease to 136.

COVID-19 hospital to rise in Clark, treatment centers to open in...

THE government on Friday said it will set up a coronavirus disease 2019 (COVID-19) hospital in New Clark City (NCC) and will continue to convert more facilities in Metro Manila to accommodate COVID-19 patients in partnership with the private sector.

Lawmakers looks into extending lockdown; Nomura warns of unrest without more...

THE possible extension of the Luzon lockdown looms with lawmakers looking into recommending it as the number of confirmed cases of the coronavirus disease 2019 (COVID-19) in the Philippines continue to rise, and the pandemic seems to not have reached its peak yet.

House may hold virtual sessions when it resumes

THE House of Representatives may hold virtual sessions once Congress resumes on May 4 if the risk of the coronavirus disease 2019 (COVID-19) still persists, House Speaker Alan Peter S. Cayetano said.

Build, Build, Build to hit targets despite COVID-19

THE government’s aggressive infrastructure program will still meet its target completions for the year despite the coronavirus disease 2019 (COVID-19) pandemic temporarily stopping the projects.

DoE tells LGUs to stop delaying oil deliveries

THE Department of Energy (DoE) has appealed to local government chiefs to refrain from blocking the movement of petroleum products at their checkpoints, which were mounted to contain the spread of the coronavirus disease 2019 pandemic.

DICT offers DoJ use of its PNPKI digital certificates

THE Department of Information and Communications Technology (DICT) offered its Philippine National Public Key Infrastructure (PNPKI) digital certificates to the prosecutors and officers of the Department of Justice — National Prosecution Service (DoJ-NPS).

How the Catholic Church will mark Holy Week during quarantine

HOLY WEEK celebrations will commence on April 5 with the Catholic faithful expected to participate in their homes rather than in churches.

Rapid Pass for checkpoints for front liners developed

THE government and the private sector have developed a way to make the checkpoint process of the enhanced community quarantine (ECQ) easier for front liners. The government teamed up with the non-profit organization Developers Connect Inc. (DevCon) to help create the Rapid Pass system which was launched on Friday afternoon.

DSWD urged to partner with e-wallet, e-banking for aid to families...

THE Anti-Red Tape Authority (ARTA) is urging the social welfare department to help increase the percentage of Filipinos who have bank accounts through the use of e-wallets and e-banking as it delivers aid to families affected by the Luzon-wide lockdown to contain the coronavirus pandemic.

Bureau of Immigration allows foreigners to leave without visa stamps

THE Bureau of Immigration (BI) said it is now allowing foreigners with approved visa applications to leave the country even if those visas have not been implemented and stamped in their passports.

PHL slowdown this year, but recovery likely in 2021 — ADB

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.

Global cost of coronavirus may hit $4.1 trillion, ADB says

THE cost of the coronavirus pandemic could be as high as $4.1 trillion, or almost 5% of global gross domestic product, depending on the disease’s spread through Europe, the U.S. and other major economies, the Asian Development Bank said.

Companies continue to help communities, frontliners amid pandemic

THE private sector continues to extend help to communities and frontliners fighting the coronavirus disease 2019 (COVID-19).

Banks’ profits, NPLs face hit from COVID-19 outbreak

BANKS’ profitability is likely to plunge due to the adverse impact of the coronavirus disease 2019 (COVID-19), which could also cause an increase in nonperforming loans (NPL), according to Global Data.

Local apps help fight against COVID-19

Some are able to provide health assessment, keep important information, and even provide a platform to request for financial assistance.

Gov’t, Phoenix in free bus service

THE GOVERNMENT is subsidizing bus companies involved in its free bus service program for medical workers battling the coronavirus disease 2019 (COVID-19) pandemic, the Department of Transportation (DoTr) said.

Moody’s lowers outlook on PHL banking industry to ‘negative’

MOODY’S INVESTORS Service lowered its outlook on the Philippine banking industry to “negative” from “stable,” with the Luzon lockdown meant to arrest the spread of the coronavirus disease 2019 (COVID-19) seen to take its toll on banks’ assets and profitability.

Private sector help continues in fight vs COVID-19

Big businesses in the Philippines continue to provide assistance to the public as the country fights the spread of the coronavirus disease 2019 (COVID-19).

Small business relief amidst COVID-19

More than any other time in the history of the world, small businesses will need the support of the government. In general, most small businesses are enterprises that survive on recent sales in order to move forward as an ongoing concern. The business model depends on recurring transactions. With the lockdown in place, and people prohibited from moving about, it is the small neighborhood business that immediately suffers.

Fitbit data reveals the impact of Covid-19 on global activity

The Covid-19 pandemic has had a major impact on physical activity levels for over 30 million active Fitbit users around the globe. Data gathered from Fitbit users around the world reveals a decline in physical activity due to the coronavirus crisis.

Duterte told to extend lockdown as cases reach more than 2,300

PRESIDENT Rodrigo R. Duterte should extend the month-long lockdown of the entire Luzon island by another month to contain coronavirus disease 2019 that has infected more than 2,300 people, a congressman said on Wednesday.

AMA Online Education launches learn now, pay later program

With AMA OEd’s “Learn Online Now, Pay Later” scheme, students and professionals get access to a variety of programs and short courses offered by AMA OEd without having to pay any tuition fee until April 15, 2020.

Singapore shares Covid-19 contact tracing technology with global developer community

Singapore is making its Covid-19 contact tracing technology freely available to developers worldwide.

Beyond the Outbreak

As our country continues to scramble for a response to the swelling pandemic, microfinance institutions have become a lifeline for entrepreneurs like farmers and fisherfolk, and will continue to play a significant role in our economy’s post-quarantine recovery. But without support, will this key industry survive the current crisis? Dr. Jaime Aristotle B. Alip explains.

Philippines asked to join drug trials vs COVID-19 virus

THE World Health Organization (WHO) wants the Philippines to participate in drug trials to test treatments for the coronavirus disease 2019, according to the Department of Health (DoH).

StartupBlink launches global map of innovations around Covid-19

“One of the things we need more than ever is to stay well-informed and to be aware of not only the bad but the good that is happening in the world.”

BSP may pump more money into system amid outbreak

THE Philippine central bank is expected to pump more money into the financial system as low lending rates fail to stimulate an economy that has been put into a standstill by a novel coronavirus pandemic.

COVID-19 cases rise to 803; death toll at 54

THE Department of Health (DoH) on Friday reported yet again the biggest daily increase in novel coronavirus infections with 96 new cases, bringing the total to 803.

Councils reactivated to monitor local food prices

GOVERNMENT agencies have reactivated a price coordination council to monitor prices of basic commodities in Metro Manila and other urban areas during the COVID-19 lockdown.

IBM, U.S. White House collaborate on COVID-19 computing consortium

IBM, in collaboration with the U.S. Department of Energy and the White House Office of Science and Technology Policy, brings supercomputers into the global fight against the coronavirus pandemic with the COVID-19 High Performance Computing Consortium.

Bigger budget deficit not expected to hurt Philippines’ credit profile

THE PHILIPPINES still has room for a more aggressive fiscal response to blunt the impact of the coronavirus disease 2019 (COVID-19) pandemic, according to credit raters who said that the expected widening of the budget deficit will not affect the country’s credit standing as long as the debt rise is temporary.

LGUs, agencies urged to cut red tape amid ECQ

GOVERNMENT AGENCIES, including local government units (LGUs), are being urged to simplify and streamline procedures and requirements as the country is under a state of national emergency due to the coronavirus disease 2019 (COVID-19) outbreak.

Foreign groups back steps vs virus

FOREIGN business groups are backing government measures to address the coronavirus disease 2019 (COVID-19) pandemic and support the economy.

At least 20 vaccines being developed vs COVID-19

THE Pharmaceutical and Healthcare Association of the Philippines (PHAP) said more than 20 vaccines and a number of antiviral medicines are being developed against the coronavirus disease 2019 (COVID-19).

Three more lawmakers infected with novel coronavirus disease

THREE more lawmakers — one senator and two congressmen — tested positive for the coronavirus disease 2019, adding to the rising number of infections that the Health department said had reached 707 as of Thursday.

COVID-19 cases top 700; death toll now at 45 — DoH

SEVENTY-ONE more people have tested positive for the coronavirus disease 2019, bringing the total infections to 707, according to the Department of Health.

Top pediatrician dies after being infected with new coronavirus

THE president of the Philippine Pediatric Society died after contracting the coronavirus disease 2019, Health Secretary Francisco T. Duque III said yesterday.

Tighter overseas lending seen as main risk to PHL economy

A WIDER COVID-19 quarantine and more restrictive lending conditions worldwide pose the main risks to the Philippine economy, threatening to bring growth to their lowest levels since 2011, Fitch Solutions Macro Research said.