Business | ABS-CBN News

Paralyzed' Spain hemorrhages jobs since coronavirus lockdown

Belén Carreño and Emma Pinedo, Reuters
Apr 02 09:01 PM

Spain has shed 900,000 jobs since it went into lockdown to fight the coronavirus, a drop documented over less than three weeks that lays bare the unprecedented scale of the outbreak's economic impact.   Read more »

Virus-hit Europe must 'go further, act stronger' to boost economy: France

Mariëtte Le Roux, Agence France-Presse
Apr 02 08:47 PM

France's finance minister urged European nations on Thursday to "go further and act stronger" to help each other's economies recover from the ravages of the coronavirus crisis. Read more »

Mga ahensiya gumagawa ng paraan para maibsan ang bigat ng bayarin sa kuryente, tubig

ABS-CBN News
Apr 02 07:30 PM

Gagawan ng paraan ng iba-ibang ahensiya para hindi maputulan ng kuryente at tubig ang mga konsumer sa oras na dumating na ang patong-patong na bayarin sa kalagitnaan ng Abril. Read more »

Pagpasok ng mga produkto sa pantalan ng Maynila posibleng ihinto

ABS-CBN News
Apr 02 07:05 PM

Nahihirapan naman ang mga nasa supply chain sa pagbiyahe dahil sa iba’t ibang patakaran na ipinatupad ng lockdown. Read more »

No late fees, finance charges on credit card payments during grace period: BSP

ABS-CBN News
Apr 02 05:34 PM

MANILA – Credit card users don’t need to worry about paying late fees and finance charges during the 30-day grace period for payments due within the enhanced community quarantine in Luzon, the Bangko Sentral ng Pilipinas said on Thursday. Read more »

Port congestion due to COVID-19 'abnormality,' trucker group says

ABS-CBN News
Apr 02 05:15 PM | Updated Apr 02 08:05 PM

Truckers and cargo owners should not be blamed for the port congestion in Manila since the Luzon lockdown to fight COVID-19 caused an "abnormality" in the supply chain, a truckers group said Thursday. Read more »

Meralco lockdown bill based on 3-month average: spokesperson

ABS-CBN News
Apr 02 04:08 PM

Customers of the Manila Electic Co this month will be charged the average of their last 3 bills, a company spokesperson said Thursday, as he assured the public of steady power supply halfway into the monthlong lockdown of Luzon to contain the COVID-19 pandemic.  Read more »

Imported supplies vs COVID-19 to be released 'right away,' finance dept says

ABS-CBN News
Apr 02 03:20 PM

The Department of Finance said Thursday imported medical gear to fight COVID-19 would be released "right away" following the issuance of guidelines for tax free importation. Read more »

GrabMart, LazMart fill grocery carts for locked-down millions in Philippines

Jessica Fenol, ABS-CBN News
Apr 02 03:14 PM | Updated Apr 02 04:43 PM

Grab and Lazada have rolled out grocery deliveries, giving millions on lockdown in the Philippine capital to stock their pantries while complying with the stay at home rule to beat the coronavirus pandemic, officials said. Read more »

How Meralco will compute electricity bills during coronavirus lockdown

ABS-CBN News
Apr 02 01:41 PM | Updated Apr 02 02:09 PM

Meralco subscribers will pay for the electricity they consumed during the Luzon lockdown once bills are adjusted and the situation normalizes, the power distributor said Thursday. Read more »

Small businesses get 30-day moratorium on rent payments: COVID-19 task force

Arianne Merez, ABS-CBN News
Apr 02 01:30 PM | Updated Apr 02 01:35 PM

Small businesses will get a 30-day moratorium on rent payments in commercial spaces, Cabinet Secretary Karlo Nograles said Thursday. Read more »

Globe subscribers can call COVID-19 hotlines at 'zero charge' during lockdown

ABS-CBN News
Apr 02 01:06 PM | Updated Apr 02 02:08 PM

Globe Telecom subscribers will be charged nothing for calls made to COVID-19 hotlines, its spokesperson said Thursday. Read more »

PLDT to provide 'push-to-talk' smartphones to COVID-19 hospitals

ABS-CBN News
Apr 02 12:23 PM | Updated Apr 02 12:40 PM

PLDT Inc said Thursday it would deploy smartphones with “push-to-talk” feature for faster communication between the Department of Health and COVID-19 hospitals. Read more »

12-hour operations for groceries, drug stores 'strongly encouraged' during lockdown, gov't says

Arianne Merez, ABS-CBN News
Apr 02 11:14 AM

The government "strongly encouraged" on Thursday grocery stores, pharmacies and other businesses selling basic goods to extend their operations to 12 hours a day to avoid crowding as the country battles the spread of COVID-19. Read more »

Buy, sell or hold? How to navigate the coronavirus-infected stock market

ABS-CBN News
Apr 02 10:56 AM | Updated Apr 02 11:04 AM

Wild swings in stock prices here and abroad due to the coronavirus pandemic show the nature of the equities market: it's volatile, an analyst said Thursday. Read more »

Elon Musk's SpaceX bans Zoom over privacy concerns - memo

Munsif Vengattil and Joey Roulette, Reuters
Apr 02 10:36 AM

Use of Zoom and other digital communications has soared as many Americans have been ordered to stay home to slow the spread of coronavirus. Read more »

Why the global recession due to COVID-19 could last a long time

Peter S. Goodman, The New York Times
Apr 02 08:49 AM

The world is almost certainly ensnared in a devastating recession delivered by the coronavirus pandemic.   Read more »

COVID-19 cases and deaths rising, debt relief needed for poorest nations: WHO

Stephanie Nebehay and Kate Kelland, Reuters
Apr 02 07:26 AM

The head of the World Health Organization voiced deep concern on Wednesday about the rapid escalation and global spread of COVID-19 cases from the new coronavirus, which has now reached 205 countries and territories. Read more »

Turkish Airlines extends flight cancellations until May 1

Reuters
Apr 02 07:18 AM | Updated Apr 02 07:20 AM

Turkish Airlines has extended the cancellation of its flights from April 17 to May 1 over the coronavirus outbreak, its CEO Bilal Eksi said on Wednesday, adding that limited domestic flights would continue. Read more »

Global stocks suffer another rout as coronavirus crisis deepens

John Biers, Agence France-Presse
Apr 02 07:10 AM

Global stocks experienced another rout Wednesday as the human and economic toll from the coronavirus continued to rise and more governments shut down activity to try to contain the outbreak.   Read more »

Airlines facing what official calls 'deepest crisis ever'

Reuters
Apr 01 09:55 PM

As the novel coronavirus continues to spread, commercial flights have all but stopped. The situation is so dire that the head of the trade group representing the world's airlines called the last few months "its deepest crisis ever."   Read more »

Virus outbreak hits supply chains for Japan firms in Philippine, Southeast Asia, India

Kyodo News
Apr 01 09:26 PM

Of those affected, more than 80 percent pointed out problems related to sourcing parts and materials, with 95.8 percent in the Philippines, 87.9 percent in Indonesia and 87.0 percent in Malaysia reporting that they are suffering as they rely relatively more on imports than local procurement. Read more »

DOE iniutos ang pagbabantay sa mahalagang pasilidad para suplay ng kuryente sapat

ABS-CBN News
Apr 01 09:02 PM

Iniutos ng Department of Energy na panatilihing may nagbabantay sa mahahalagang pasilidad para matiyak ang tuloy-tuloy na suplay ng kuryente, tubig at komunikasyon habang may enhanced community quarantine.  Read more »

World faces food crisis in wake of coronavirus: UN, WTO

Agence France-Presse
Apr 01 08:24 PM

Panic buying by people going into confinement has already demonstrated the fragility of supply chains as supermarket shelves emptied in many countries. Read more »

China Bank raises ATM withdrawal limit to P50K for easy cash access during COVID-19 lockdown

ABS-CBN News
Apr 01 05:29 PM | Updated Apr 01 06:05 PM

Daily ATM withdrawal limit was raised to P50,000 from P20,000 starting April 1 until the enhanced community quarantine is lifted, the bank said in a statement. Read more »