coronavirus-impact | ABS-CBN News

Inflation slowing down, BSP likely to cut rates anew by 25 bps: economist

ABS-CBN News
Posted at Feb 02 04:48 PM

The Bangko Sentral will likely its policy rate again by at least 25 basis points to help the national government's infrastructure program and boost the economy amid the continuing impact of the pandemic, an economist said Tuesday.   Read more »

Ayala Corp chair sees full economic recovery by fourth quarter of 2022

Bruce Rodriguez, ABS-CBN News
Posted at Jan 22 07:01 PM

Ayala Corp Chairman Jaime Augusto Zobel de Ayala, one of the country's top business leaders, said Friday the Philippine economy will likely recover to pre-pandemic levels by the fourth quarter of 2022. Read more »

BOJ debated room for stimulus tweaks with eye on long battle with pandemic

Leika Kihara, Reuters
Posted at Dec 23 09:37 AM

Bank of Japan policymakers kicked off discussions in October on ways to make their massive stimulus programme more sustainable, with one member calling for a tweak to the bank's huge purchases of risky assets, minutes of the meeting showed on Wednesday. Read more »

10.9 million Filipinos lost jobs, had lower incomes due to COVID-19 pandemic: ILO

Nika Lazo and Bruce Rodriguez, ABS-CBN News
Posted at Dec 15 08:05 PM

MANILA - Around 10.9 million Filipino workers lost their jobs and had lower incomes and working hours this year as the COVID-19 pandemic affected the economy, according to a labor report released Tuesday. Read more »

Malls in Brazil's Rio to open 24 hours for Christmas

Agence France-Presse
Posted at Dec 05 07:30 AM

Rio de Janeiro's shopping malls will stay open 24 hours a day through Christmas, authorities announced Friday, hoping to avoid overcrowding amidst a second wave of coronavirus. Read more »

Airlines see "oasis" in entertainment, energy sectors during pandemic

Reuters
Posted at Dec 04 03:17 PM

Airlines eager to fill premium seats left empty by the coronavirus crisis are making a beeline for the entertainment and energy industries, which still must get its workers to far-off places.   Read more »

Dissecting Data: PH jobless data see 'worst' year as virus wipes out 2019 gains

Warren de Guzman and Edson Guido, ABS-CBN News
Updated as of Dec 24 12:04 PM

The Philippine unemployment averaged 10.4 percent in 2020, the worst year of joblessness on record based on data going back to 2005.    Read more »

Philippines launches new long-term U.S. dollar bonds issue

Neil Jerome Morales and Karen Lema, Reuters
Updated as of Dec 02 04:32 PM

The Philippine government launched an offering of 10.5-year and 25-year U.S. dollar-denominated bonds on Wednesday to raise funds needed to mitigate the economic damage of the coronavirus pandemic.   Read more »

Airbnb aims for $35 billion valuation in long-awaited IPO

Anirban Sen, Joshua Franklin and Chibuike Oguh, Reuters
Posted at Dec 02 08:38 AM

Airbnb Inc said on Tuesday it is aiming for a valuation of up to $34.8 billion in its initial public offering (IPO), in what would cap a stunning recovery in its fortunes after the U.S. home rental firm's business was heavily damaged by the COVID-19 pandemic earlier this year. Read more »

#StaySafe: Tips for dining out, shopping safely during the Christmas rush, pandemic

Nika Lazo, ABS-CBN News
Posted at Nov 30 01:33 PM

As the Christmas season approaches, the government and the private sector recently launched the "Ingat Angat" campaign to encourage Filipinos to shop and dine out while staying safe from COVID-19. Read more »

US economy stumbles as coronavirus spreads widely

Ben Casselman, The New York Times
Posted at Nov 26 11:40 AM

Layoffs are rising again and Americans’ incomes are falling, the latest signs that the one-two punch of a resurgent pandemic and waning government aid are undermining the US economic recovery.   Read more »

Can't dine out? UK restaurants offer DIY meal kits to survive lockdown

Will Russell, Reuters
Posted at Nov 25 05:18 PM

From fast food to fine dining, some restaurants in Britain are relying on home kits to keep them afloat during lockdown, turning clients into cooks who recreate favourite meals in the comfort of their own kitchens. Read more »

Philippine Airlines plans court protection as pandemic hits finances

Neil Jerome Morales, Reuters
Updated as of Nov 25 03:51 PM

Philippine Airlines plans to seek court protection from creditors while it pursues debt restructuring with government help, the finance minister said on Wednesday, as it fights to survive a pandemic that has battered the industry globally. Read more »

Cirque du Soleil emerges from bankruptcy protection

Reuters
Posted at Nov 25 09:11 AM

Canada's Cirque du Soleil Entertainment Group said on Tuesday it had emerged from bankruptcy, after the COVID-19 pandemic forced the famed circus operator to cancel shows and lay off artists earlier this year. Read more »

United, American Airlines to scrap change fees for overseas flights

Mrinalika Roy, Reuters
Posted at Nov 20 10:51 AM

United Airlines and American Airlines said on Thursday they will scrap change fees for long-haul international flights, mirroring their move on domestic flights in a bid to revive bookings and air travel demand hit by the pandemic.   Read more »

U.S. airline CEOs renew request for more aid in letter to Congress

David Shepardson and Tracy Rucinski, Reuters
Posted at Nov 19 03:37 PM

The chief executives of the seven largest U.S. airlines made a fresh plea for more payroll relief before the end of the year and pointed to the challenges of distributing a COVID-19 vaccine in a letter to Congressional leaders on Wednesday. Read more »

Emerging market government debt soars to record 59 pct of GDP: JPMorgan

Karin Strohecker, Reuters
Posted at Nov 17 09:06 AM

Debt levels of emerging market governments ballooned to record highs in 2020 and are expected to continue rising next year, JPMorgan said in a note on Monday, as policymakers battle to restart economies battered by the coronavirus pandemic. Read more »

Ayala posts P3.4-B net income in Q3

ABS-CBN News
Posted at Nov 12 09:23 PM

Ayala Corp. said Thursday its third quarter net income improved to P3.4 billion versus the past few quarters on gains of its property, banks and industrial business as the economy started to reopen. Read more »

Shakey's says Q3 net loss 'better than expected' on improved store sales

ABS-CBN News
Posted at Nov 11 04:50 PM

Shakey's Pizza Asia Ventures posted a net loss of P172 million in the third quarter, "better than expected" it said as store sales and "off premise" businesses improved following looser restrictions. Read more »

LIST: Oil refiners shut plants as demand losses may never return

Reuters
Posted at Nov 11 03:37 PM

Oil refiners are permanently closing processing plants in Asia and North America and facilities in Europe could be next because of uncertain prospects for a recovery in fuel demand after the coronavirus pandemic cut consumption. Read more »