PHL eyes AIIB’s crisis recovery facility
Beijing-backed Asian Infrastructure Investment Bank (AIIB) said on Friday it was proposing to its board to form a $5 billion financing facility to help public and private sector entities navigate the coronavirus pandemic.
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.
Inflation likely eased further in March
INFLATION likely eased further in March as the plunge in oil prices was seen to offset a slight uptick in food prices due to a spike in demand caused by the enhanced community quarantine (ECQ) in Luzon.
PHL rules out tapping global bond market
THE government probably won’t tap global bond markets to fund its anti-coronavirus disease 2019 (COVID-19) response, National Treasurer Rosalia V. de Leon said on Thursday, citing ample liquidity supply in the local market.
Rules on tax deadline extensions released
THE Bureau of Internal Revenue (BIR) extended the deadline for the filing of all tax returns, tax payments and submission of documents as the country remains under a state of national emergency due to the coronavirus outbreak.
Gov’t urged to throw lifeline to MSMEs
FINANCIAL support for micro, small and medium enterprises (MSMEs) should be a government priority, especially after the enhanced community quarantine (ECQ) is lifted or modified, several business groups said.
Factory activity plunges to record low
FACTORY ACTIVITY slumped to a record low in March, snapping a 43-month growth streak, as the Luzon-wide lockdown due to the coronavirus disease 2019 (COVID-19) pandemic brought factories to a halt.
Medical ‘brain drain’ comes back to haunt virus-stricken Philippines
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.
Banks ordered to give 30-day grace period for loans
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.
Gradual lifting of ECQ eyed
THE LIFTING of the enhanced community quarantine (ECQ) in Luzon in mid-April would be gradual, Trade Secretary Ramon M. Lopez said on Wednesday.
PHL plans rice imports amid lockdown
THE government is planning to import 300,000 metric tons (MT) of rice to ensure there is enough domestic supply as Luzon remains under enhanced community quarantine.
Virus to cut Philippine growth — World Bank
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.