economy-coronavirus | ABS-CBN News

'Hindi naman po talaga bakasyon': Roque clarifies '1-year vacation' remark

ABS-CBN News
Posted at Mar 03 10:53 AM

Palace spokesman Harry Roque on Wednesday clarified his recent remark that Filipinos have been on a nearly year-long "vacation" due to the COVID-19 pandemic.    Read more »

Cinemas, arcades OK to reopen: IATF allows more businesses to resume in GCQ areas

Jamaine Punzalan, ABS-CBN News
Updated as of Feb 12 06:23 PM

MANILA — The inter-agency task force leading the country's COVID-19 response has allowed more industries to reopen soon in areas under general community quarantine, Malacañang said on Friday, as authorities sought to boost the pandemic-battered economy.  Read more »

One-fourth of Bayanihan 2 funds yet to be spent: Palace

Jamaine Punzalan, ABS-CBN News
Updated as of Feb 11 02:48 AM

The government has yet to spend about a quarter of the country's second, approximately P165-billion stimulus package for the COVID-19 pandemic, Malacañang said on Wednesday, adding that another cash injection remained "premature."  Read more »

As prices go up, labor chief wary of wage hike

Jamaine Punzalan, ABS-CBN News
Updated as of Jan 28 04:22 PM

Labor Secretary Silvestre Bello III on Thursday warned of possible business closures and loss of employment if his agency endorsed a wage hike for workers, as the prices of basic goods go up.    Read more »

Duterte keeps lower tariffs on some poultry products until 2022

ABS-CBN News
Posted at Jan 18 01:41 PM

President Rodrigo Duterte has signed an executive order keeping reduced tariff rates on certain imported poultry products until 2022, citing the COVID-19 pandemic.  Read more »

Pasig says at least 5 pct of registered businesses in city closed in 2020

ABS-CBN News
Posted at Jan 06 11:55 AM

At least 5 percent of registered businesses in Pasig City closed in 2020 due to the disruptions caused by the COVID-19 pandemic, Mayor Vico Sotto said Wednesday.   Read more »

80,000 more OFWs expected to return home in 1st half of 2021 due to pandemic: official

ABS-CBN News
Posted at Dec 17 06:03 PM

Some 80,000 more Filipino migrant workers are expected to return to the Philippines in the first half of next year, the Overseas Workers Welfare Administration said on Thursday.   Read more »

PPA waives some fees for local shipping firms

ABS-CBN News
Posted at Dec 01 10:06 PM

The Philippine Ports Authority (PPA) on Tuesday started waving fees for local shipping firms, as authorities sought to help businesses with the coronavirus pandemic.    Read more »

COVID-19 worsens Europe's inequalities in yet another way - the fertility gap

Catarina Demony and Gavin Jones, Reuters
Posted at Dec 01 05:18 PM

Evidence suggests the coronavirus is deterring would-be parents from conceiving in most of Europe, but especially in the southern countries - from Italy to Greece - where safety nets are weakest and the birth rate was already in strong decline.   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 »

PH banks' growth 'tempered' until 2021 on weaker economy, COVID cases: analyst

ABS-CBN News
Updated as of Nov 25 02:35 PM

MANILA - Philippine banks' recovery and growth are seen to be "tempered" until next year given the lingering effects of the pandemic on the economy, an analyst at Fitch Ratings told ANC's Market Edge. Read more »

G20 dithers on poor countries debt time bomb

Agence France-Presse
Posted at Nov 23 08:30 AM

The G20 promised Sunday to tackle the explosive issue of developing-nation debt, but failed to stake out any clear action, infuriating campaigners warning of a looming crisis.   Read more »

Dissecting Data: PH economy sees second worst contraction on record in third quarter

Warren de Guzman and Edson Guido, ABS-CBN News
Posted at Nov 10 03:29 PM

The Philippines got hit by the second worst quarterly contraction in its economy on record in the third quarter. At 11.5 percent, the third quarter contraction was certainly slower than the second quarter’s 16.9 percent contraction, but it was still worse compared to most private sector expectations, as well as government projections.   Read more »

China to set five-year plan for steering economy through choppy waters

Kevin Yao, Reuters
Posted at Oct 26 08:44 AM

China's top leaders will chart the country's economic course for 2021-2025 at a key meeting starting on Monday, seeking to balance growth and reforms to avoid stagnation amid an uncertain global outlook and deepening tensions with the United States. Read more »

China and US economies diverge over coronavirus response

Andrea Shalal and Gabriel Crossley, Reuters
Posted at Oct 22 08:49 AM

The United States and China dealt with the spread of the devastating coronavirus pandemic in vastly different ways, and that split is reshaping the global battle between the world's two leading economies. Read more »

Unviable? Wave of job losses coming as UK cuts COVID-19 support

David Milliken, Reuters
Posted at Oct 13 08:17 PM

Like thousands of employers in Britain, Alison Griffin fears she could soon have to lay off more staff at her huge events venue when the government ends its flagship coronavirus job support program in three weeks. Read more »

Going on 'staycation'? Here's what you need to know

ABS-CBN News
Posted at Oct 01 05:25 PM

The Philippines' tourism department has released guidelines for those who want to go on "staycations" in hotels that the coronavirus pandemic had shuttered for about half a year, Malacañang said Thursday.    Read more »

The future of Airbnb

Elaine Glusac, The New York Times
Posted at Sep 30 11:23 AM

In the travel wreckage caused by the pandemic, home sharing has emerged as battered, but with a steady pulse, as rental houses became social-distancing refuges for the travel-starved.   Read more »

Disney to cut 28,000 US employees due to coronavirus

Agence France-Presse
Posted at Sep 30 06:43 AM

Disney announced Tuesday it will cut 28,000 jobs from its US parks and experiences division, pointing to depressed demand caused by the coronavirus and uncertainty on when it will recover.   Read more »

Sick of staying home: China expects a Golden Week tourism rebound

Sophie Yu and Brenda Goh, Reuters
Posted at Sep 28 12:49 PM

China expects a significant rebound in domestic travel over the upcoming Golden Week holiday after the sector was pummeled by the novel coronavirus for months, with some flights selling out and travel platforms reporting a surge in hotel bookings.   Read more »