Hanjin is officially under receivership. And beware the sniffles! The flu season is upon us. Here are the stories making the headlines on ANC:
Compatibility of technology
It’s still unclear what is the problem hounding the DFA on the passport issue, and who is liable, if anyone is liable at all. Foreign Affairs Sec. Teddy Locsin Jr. said a birth certificate is no longer required to renew passports. Locsin also said it was not possible for a contractor to run away with the data. Earlier, he said the data was not accessible. And it’s been established that there is no data theft or data leak. Is this a problem of compatibility of the technology between the contractors? If so, what are the efforts to bridge this issue so applicants can get their passports?
Global shipping giant Hanjin is now officially under receivership. Analysts said Hanjin’s debt woes won’t weigh much on the banking sector. But it will weigh on the thousands who are at risk of losing their jobs. How will banks that have exposures in Hanjin deal with the situation? Moody’s advised the banks to make provisions for their exposure because the loans were unsecured. ANC’s Business group will talk to Moody’s on Market Edge to get more perspective on the problem.
Full court press
House Majority Leader Rolando Andaya continued his full court press on Budget and Management Sec. Ben Diokno. In a House hearing, Andaya showed documents to back up his claim P81 million in flood control funds went to a construction firm with ties to Diokno. A solution to this impasse isn’t likely soon as the clock ticks to the Congress next adjournment on Feb. 9. Will they be able to pass the budget by then?
Season of malady
The flu season is upon us and reports are saying the vaccine scare as the result of the Dengvaxia controversy is making Filipinos more vulnerable to the spread of the flu. A medical expert also said Vitamin C and other home remedies are not enough to combat the flu. Meanwhile, the Palace will hold a press briefing on the implementation of value-added tax exemption on the sale of medicines for diabetes, hypertension and high cholesterol.
As of this writing, members of the UK Parliament are set to vote on the terms of the country’s withdrawal from the European Union. Whatever, the result of the vote, it is sure to send shock waves across the global markets. Analyst believe Prime Minister Theresa May’s Brexit deal is expected to be rejected. This could also throw May’s government into a tailspin. ANC’s Business group is sure to monitor the effects of the vote on the markets.