Business | ABS-CBN News

Philippine growth to slow with lockdown extension: Fitch Solutions

ABS-CBN News
Apr 07 12:26 PM | Updated Apr 07 12:46 PM

Fitch Solutions said Tuesday it would lower its 4 percent growth forecast for the Philippines due to the extension of the Luzon lockdown to April 30.   Read more »

DOLE gets P5-billion budget boost for workers' cash aid

Arianne Merez, ABS-CBN News
Apr 07 12:11 PM

MANILA - A P5 billion supplemental budget for the Department of Labor and Employment was approved by the government's pandemic response task force to help migrant workers and displaced employees, an official said Tuesday. Read more »

How to keep video conferencing safe during COVID-19 lockdown

ABS-CBN News
Apr 07 10:39 AM

Filipinos using video and teleconferencing platforms during the Luzon lockdown should use security measures to protect themselves from cyber threat, the Department of Information and Communication Technology said Tuesday.   Read more »

Remittances could decline if COVID-19 disruption persists: Pernia

ABS-CBN News
Apr 07 10:23 AM | Updated Apr 07 10:40 AM

The coronavirus pandemic could shave 20 to 30 percent off dollar remittances from Filipinos overseas, as the contagion halts businesses worldwide, Socioeconomic Planning Secretary Ernesto Pernia said Tuesday. Read more »

Socieconomic planning chief seeks loosening of lockdown for some businesses

ABS-CBN News
Apr 07 09:59 AM | Updated Apr 07 10:29 AM

Socioeconomic Planning Secretary Ernesto Pernia said Tuesday he was in favor of some easing to the Luzon lockdown, to allow more businesses to reopen and manufacturing to resume. Read more »

Consumer demand 'alive' during lockdown as March inflation eases to 2.5 percent

ABS-CBN News
Apr 07 09:12 AM | Updated Apr 07 10:55 AM

Inflation in March eased from the previous month, with millions locked down in their homes to fight the coronavirus pandemic, official data released Tuesday showed. Read more »

Coronavirus supercharges China digitalization as stay-at-home economy thrives

Frank Tang, South China Morning Post
Apr 07 08:13 AM

China's months-long effort to contain the coronavirus pandemic is boosting the digitalization of the world's second largest economy, with online sales, teleconferencing and entertainment thriving amid efforts to reduce unnecessary human contact. Read more »

Asian shares poised to climb after Wall Street rallies

Chris Prentice, Reuters
Apr 07 07:51 AM

Asian markets looked poised on Tuesday to attempt another day of gains after stocks rallied on signs of a slowdown in coronavirus-related deaths, as oil prices resumed their decline on doubts about a potential Saudi-Russian pact to cut output. Read more »

Air France-KLM has 6 billion euros in cash, will need state support soon

Reuters
Apr 07 07:46 AM

Air France-KLM SA has 6 billion euros in cash at hand, Anne Rigail, chief executive of Air France told French newspaper Le Figaro, adding that state support from the French and Dutch governments would be needed soon in order to keep the airline afloat. Read more »

Facebook draws on user data to help battle coronavirus

Agence France-Presse
Apr 07 07:29 AM

Facebook on Monday said it is providing anonymous data about users' movements and relationships to help researchers better anticipate where the coronavirus might spread. Read more »

Online delivery ng mga gulay, inilunsad ng pamahalaan ng Quezon City

Lyza Aquino, ABS-CBN News
Apr 07 05:57 AM

Bukod pa sa pagpapakalat ng mga mobile palengke, nagbukas na rin ng online delivery ang lokal na pamahalaan ng Quezon City para sa mga barangay na nangangailangan ng mga gulay para sa kanilang mga residente.   Read more »

Surviving the Lockdown and Beyond

UP School of Economics Discussion Papers
Apr 07 05:53 AM

The current coronavirus pandemic, along with its social and economic consequences, represents the challenge of a generation. Read more »

Duterte says not enough gov't funds in battle vs COVID-19

ABS-CBN News
Apr 06 11:53 PM

President Duterte on Monday said the Philippines does not have enough funds to respond to the crisis brought by the COVID-19 pandemic. Read more »

JPMorgan CEO Dimon calls 'bad recession', mulls suspending 2020 dividend

Anirban Sen and Elizabeth Dilts Marshall, Reuters
Apr 06 09:40 PM

Questions are mounting about whether big US banks will have to cut dividends later this year as the coronavirus crisis puts a record portion of Americans out of work, making it difficult for borrowers to pay back loans. Read more »

Japan unveils $989 billion stimulus package vs coronavirus

Tetsushi Kajimoto and Takaya Yamaguchi, Reuters
Apr 06 09:04 PM

The package, to be confirmed by the cabinet on Tuesday, will total 108 trillion yen ($989 billion), far exceeding one compiled in the wake of the 2009 financial crisis totaling 56 trillion yen in size, with fiscal spending of 15 trillion yen. Read more »

Malaysia to spend $2.3 billion to aid small, midsize firms

Kyodo News
Apr 06 08:01 PM | Updated Apr 06 09:44 PM

Malaysia unveiled a 10 billion ringgit ($2.29 billion) stimulus package Monday targeted at small and medium enterprises to soften the impact from the coronavirus pandemic that threatens to plunge the country into a recession. Read more »

Singapore unveils $3.5 billion in economic spending to combat coronavirus

Reuters
Apr 06 07:58 PM

Singapore announced S$5.1 billion ($3.55 billion) in additional economic spending such as wage support, waiver of levies and one-off payments to combat the coronavirus pandemic. Read more »

Japanese businesses in Philippines brace for lockdown extension

ABS-CBN News
Apr 06 07:56 PM

Japanese businesses in the Philippines are preparing for a possible extension of the government-imposed lockdown amid talks it will last for at least two more weeks to contain the spread of the novel coronavirus. Read more »

Voyager Innovations raises $120 million additional funding for PayMaya expansions

ABS-CBN News
Apr 06 06:20 PM

Its stakeholders PLDT Inc, KRR, China's Tencent, IFC and IFC Emerging Asia Fund committed up to $120 million new investments in Voyager, operator of PayMaya, the groups said in a joint statement.  Read more »

Paglilinis ng supermarkets puspusan

ABS-CBN News
Apr 06 05:03 PM | Updated Apr 07 12:27 AM

Tiniyak ng mga opisyal mula sa mga supermarket na puspusan ang paglilinis ng kanilang mga establisimyento para hindi makontamina ng virus ang lahat ng kanilang pasilidad, gamit at produkto. Read more »

Mga pekeng e-mail, text: Mga bangko nagbabala vs scammers

ABS-CBN News
Apr 06 04:17 PM | Updated Apr 07 07:29 PM

Nagbabala ang mga bangko laban sa mga nananamantala ng lockdown sa Luzon para makapanloko sa kanilang mga kliyente.   Read more »

Bawas-presyo sa petrolyo ipatutupad sa Martes

ABS-CBN News
Apr 06 02:48 PM | Updated Apr 06 06:03 PM

Muling magpapatupad ng bawas-presyo sa kanilang mga produkto ang mga kompanya ng langis sa Martes, Abril 7. Read more »

Apple to ship 1 million face shields a week for medical workers

Agence France-Presse
Apr 06 02:07 PM | Updated Apr 06 02:46 PM

The tech giant had already sourced 20 million surgical masks from around the world to help address a global shortage, chief executive Tim Cook said in a video posted to Twitter on Sunday.  Read more »

Rental relief: Trade dept issues guidelines for 30-day grace period

ABS-CBN News
Apr 06 01:55 PM

The Philippines on Monday released guidelines for a 30-day moratorium on residential and commercial rent for small businesses to ensure that no one will lose their home due to the coronavirus lockdown, the trade department said. Read more »

Shakey's eyes 'gradual' re-opening as coronavirus lockdown enters fourth week

ABS-CBN News
Apr 06 01:00 PM

Shakey’s Pizza Asia Ventures Inc on Monday said it was looking at “gradually” reopening more stores in the next few weeks after the Luzon lockdown forced the closing of majority of its stores.  Read more »