The program aims to increase availability of credit from the banking sector and encourage more banks to lend to MSMEs affected by the COVID-19 pandemic.#COVID19PH#LagingHandaPH#WeHealAsOne pic.twitter.com/11exHG6bDL — Phil News Agency (@pnagovph) May 8, 2020
By: Ben O. de Vera, Philippine Daily Inquirer, 8 May 2020 The Philippine economy contracted for the first time in more than two decades during the first quarter, but economists warned on Thursday that the worst was likely yet to come as the country reeled from the coronavirus pandemic.
By Rey Elbo, Business World, 8 May 2020 It appears to me that the authorities have not issued any specific guidelines for companies that may be affected by the pandemic after the lifting of the lockdown. No, we are not talking about financial assistance, but how do we ensure that our workers and managers are…
https://www.pna.gov.ph/articles/1102274 MANILA – Cash grants totaling PHP10.1 billion have been credited to more than 1.2 million employees of small businesses so far under the Small Business Wage Subsidy (SBWS) program as part of the Duterte administration’s efforts to provide relief to poor and low-middle-income families along with other vulnerable sectors hardest-hit by the economic fallout…
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https://www.pna.gov.ph/articles/1102239 MANILA – The Civil Service Commission (CSC) has made available multiple alternative work arrangements (AWA) that government agencies can adopt while the country is placed under a state of public health emergency due to the coronavirus disease 2019 (Covid-19) pandemic.
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By Gerardo Maximo Francisco, Manila Times, 7 May 2020 At some point, the enhanced community quarantine (ECQ) still in effect in many areas in the Philippines will be downgraded by the government to the level of a general community quarantine (GCQ). Hopefully, this vital decision to shift to a GCQ will be made circumspectly and…
by Elfren S. Cruz (The Philippine Star), 7 May 2020 A universal basic income (UBI) is a guaranteed income sufficient to meet a person’s basic needs. While there may be different versions, the basic features would be that it is unconditional, automatic, non-withdrawable, individual, and is a right.
by Mayen Jaymalin, Rudy Santos, Michael Punongbayan, Jose Rodel Clapano (The Philippine Star), 7 May 2020 MANILA, Philippines — The Overseas Workers Welfare Administration (OWWA) reported yesterday that over 40,000 more overseas Filipino workers (OFWs) displaced by the lockdown abroad due to the coronavirus disease 2019 (COVID-19) pandemic are expected to return home.
by Janvic Mateo, Cecille Suerte Felipe, Edith Regalado (The Philippine Star), 7 May 2020 MANILA, Philippines — The Department of Education (DepEd) yesterday said it would implement adjustments in the basic education curriculum to take into account the current situation brought about by the coronavirus disease 2019 (COVID-19) pandemic.
By: Antonio T. Carpio, Philippine Daily Inquirer, 7 May 2020 There are invisible hands in the Philippines and China orchestrating the activities of Philippine offshore gaming operators (Pogos). Pogos run transnational gambling operations through online video. Smartly dressed young Chinese female dealers preside over casino tables located in condominium offices in the Philippines while their…
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by Czeriza Valencia (The Philippine Star), 7 May 2020 MANILA, Philippines — The Philippine economy can plunge into a recession starting in the second quarter and will take time to recover amid the uncertainties caused by the coronavirus pandemic, according to report of First Metro Investment Corp.
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By: Ben O. de Vera, Philippine Daily Inquirer, 7 May 2020 The COVID-19 lockdown imposed in Luzon and other parts of the country since mid-March already cost the Philippines forgone output worth 5.8 percent of its gross domestic product (GDP)—the highest in Asean-5, estimates of UK-based Oxford Economics provided to the Inquirer showed.
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By Melissa Luz Lopez, CNN Philippines, 7 May 2020 Metro Manila (CNN Philippines, May 7) – Nearly half of workers in the private sector lost their sources of income during the enhanced community quarantine that was imposed by the government to contain the spread of the deadly coronavirus.
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by Associated Press, 7 May 2020 SOAVE, Italy — The global luxury goods sector is heading for a stunning collapse of up to 35% this year due to coronavirus lockdowns, according to a new study by the Bain consultancy published Thursday.
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by Mary Grace Padin (The Philippine Star), 7 May 2020 MANILA, Philippines — The impact of the coronavirus disease 2019 or COVID-19 pandemic on the economy may be worse than previously expected following the extension of the enhanced community quarantine and the imposition of general community quarantine in areas affected by the contagion, the Department…
by Ben O. de Vera, Philippine Daily Inquirer, 6 May 2020 MANILA, Philippines – Global and domestic supply chain disruptions caused by the COVID-19 pandemic, which limited movement not only of people but also of goods, inflicted a sharp drop in the Philippines’ exports and imports in March, the government reported on Wednesday.
by Associated Press, 6 May 2020 BRUSSELS — The European Union predicted Wednesday “a recession of historic proportions this year” due to the impact of the coronavirus with a drop in output of more than 7%, as it released its first official forecast of the damage the pandemic is inflicting on the bloc’s economy.
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