covid-19-pandemic-impact | ABS-CBN News

Lufthansa Technik to cut 300 jobs in PH as pandemic effects felt

ABS-CBN News
Updated as of Feb 12 01:06 PM

Lufthansa Tecknik Philippines will cut 20 percent of its workforce, or 300 employees, saying it has no choice but to downsize amid the impact of the pandemic on the aviation industry. Read more »

Heineken to cut 8,000 jobs as virus takes fizz out of sales

Agence France-Presse
Posted at Feb 10 05:06 PM

Dutch brewing giant Heineken said on Wednesday it would cut around 8,000 jobs worldwide as the coronavirus pandemic kept much of the hospitality sector closed.   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 »

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 »

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 »

Air France-KLM warns of bigger losses amid lockdowns

Laurence Frost, Reuters
Posted at Oct 30 04:40 PM

Air France-KLM unveiled a 1.05 billion-euro ($1.24 billion) quarterly operating loss and warned of worse to come as a resurgent coronavirus brings new travel curbs. Read more »

Facebook anticipates tougher 2021 even as pandemic boosts ad revenue

Katie Paul and Noor Zainab Hussain, Reuters
Posted at Oct 30 09:39 AM

Facebook Inc on Thursday warned of a tougher 2021 despite beating analysts' estimates for quarterly revenue as businesses adjusting to the global coronavirus pandemic continued to rely on the company's digital ad tools. Read more »

German software giant SAP trims outlook on virus woes

Agence France-Presse
Posted at Oct 26 09:03 AM

German software giant SAP on Sunday downgraded its outlook for 2020, saying a resurgence in coronavirus cases would weigh on demand from "hard hit" customers. Read more »

Jollibee supplier Cargill bets on 'Christmas rush' to boost demand for poultry products

Jessica Fenol, ABS-CBN News
Updated as of Oct 22 04:20 PM

Cargill Philippines said Thursday the holiday season could reinvigorate demand for poultry supply in the Philippines, an industry which was not spared by the impact of the coronavirus pandemic.    Read more »

Asia-Pacific countries begin to ease pandemic-related travel bans, but hurdles remain

Jamie Freed, Reuters
Posted at Oct 12 03:50 PM

Asia-Pacific countries including Singapore, Australia and Japan are gradually easing some international travel restrictions as coronavirus cases slow, in hopes of helping to revive their economies. Read more »

Malaysia Airlines boss says will have to shut down if restructuring plan fails

Joseph Sipalan and Anshuman Daga, Reuters
Posted at Oct 12 09:36 AM

Malaysia Airlines will have to shut down if its lessors decide not to back its latest restructuring plan, the chief executive of the airline's parent group was quoted as saying on Saturday.   Read more »

Debt cancellation needed to help poorest countries: World Bank president

Michael Nienaber, Reuters
Posted at Oct 05 08:47 AM

The COVID-19 pandemic could trigger a debt crisis in some countries, so investors must be ready for granting some form of relief that could also include debt cancellation, World Bank President David Malpass was quoted as saying on Sunday. Read more »

PH unemployment rate at 10 percent in July, 4.6 million Filipinos jobless amid pandemic

ABS-CBN News
Posted at Sep 03 01:31 PM

The Philippines’ unemployment rate improved in July compared to April data as the government eased COVID-19 lockdowns to help resuscitate the economy.   Read more »

Will trade for food: online bartering soars in virus-hit Philippines

Cecil Morella, Agence France-Presse
Updated as of Sep 02 02:03 PM

Struggling to make ends meet, Lorraine Imperio swapped a pair of Nike slip-on shoes for a whole dressed chicken on an online bartering site, one of dozens that have sprouted up during the Philippines' virus lockdowns. Read more »

South Korea central bank cuts growth outlook on virus fears

Agence France-Presse
Posted at Aug 27 12:02 PM

South Korea's central bank slashed its growth forecast Thursday, predicting the world's 12th-largest economy will shrink more than one percent this year as it braces for a surge of coronavirus infections. Read more »

Meralco extends moratorium on disconnection to end-October this year

ABS-CBN News
Posted at Aug 24 01:51 PM

Meralco has extended its moratorium on the disconnection of services to consumers until October 31 this year for those unable to pay their electric bills, the firm announced during a Congressional hearing on Monday.  Read more »

Bangko Sentral says working on 60-day loan reprieve IRR under Bayanihan 2

ABS-CBN News
Updated as of Aug 24 09:57 AM

The Bangko Sentral ng Pilipinas said Monday it has drafted the implementing rules of the 60-day moratorium on loans as President Rodrigo Duterte is expected to sign the Bayanihan to Recover as One Act (Bayanihan 2) on Monday.   Read more »

Australia's Qantas posts $1.9 billion loss, confirms job cuts

Agence France-Presse
Posted at Aug 24 08:50 AM

Australian flag carrier Qantas on Thursday posted an almost US$2-billion annual loss after a "near-total collapse" in demand due to the coronavirus pandemic.   Read more »

Disburse Bayanihan 2 funds based on 'objective criteria', ensure easy credit access: MAP

ABS-CBN News
Updated as of Aug 21 06:11 PM

The Management Association of the Philippines (MAP) on Friday urged government to disburse funds under the second coronavirus response package based on certain "objective criteria," as it hailed Congress in enacting the measure.    Read more »

Germany to take on more debt in 2021 due to virus

Agence France-Presse
Posted at Aug 21 12:10 PM

Germany will need to take on yet more debt in 2021 to mitigate the impact of the coronavirus on the economy, Finance Minister Olaf Scholz said Friday. Read more »