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‘Enterprises hit by pandemic may pause operations’

Enterprises hit by the pandemic may have to pause operations temporarily once their cash flow turns negative and consider other opportunities in agriculture and digital space, Presidential Adviser on Entrepreneurship and Go Negosyo founder Joey Concepcion said......»»

Category: newsSource: philstar philstarAug 1st, 2020

Villar highlights role of SB Corp.& nbsp;

Las Piñas Rep. Camille Villar asked the government to simplify loan procedures to help enterprises continue their operations as they struggle to shift to the new normal amid the pandemic......»»

Category: financeSource:  thestandardRelated NewsJun 11th, 2020

Ayala Group bares program to help small business firms

The Ayala Group has launched Ayala Enterprise Circle, a support program aimed at helping small and medium enterprises continue their operations and recover from the new coronavirus (COVID-19) pandemic......»»

Category: financeSource:  thestandardRelated NewsMay 24th, 2020

Shopee extends P200 million seller support package

Online marketplace Shopee is providing a P200-million support package for small and medium enterprises whose operations were affected by the coronavirus disease 2019 or COVID-19 pandemic......»»

Category: financeSource:  philstarRelated NewsApr 25th, 2020

Exporters seek government support vs virus

The umbrella group of exporters is seeking government support for businesses, particularly micro, small and medium enterprises , to help mitigate losses, with operations affected by the coronavirus disease 2019 pandemic......»»

Category: financeSource:  philstarRelated NewsMar 14th, 2020

San Miguel incurred P4-b loss in first half

Diversified conglomerate San Miguel Corp. said Thursday it incurred a net loss of P4 billion in the first six months, a sharp turnaround from the P26.1-billion net income it booked in the same period last year as the pandemic affected operations of core businesses......»»

Category: lifestyleSource:  abscbnRelated News3 hr. 59 min. ago

Globe’s net income down 5% in H1

Globe Telecom Inc. posted lower earnings and revenues in the first half as mobility restrictions implemented due to the COVID-19 pandemic took its toll on its business operations......»»

Category: newsSource:  philstarRelated NewsAug 4th, 2020

Auto, motorcycle sales, output decline in H1

Production and sales of motor vehicles and motorcycles continued to post double-digit decline in the first half as operations were affected by the coronavirus disease 2019 pandemic......»»

Category: newsSource:  philstarRelated NewsAug 4th, 2020

P51-B airport railway launched

Project to generate 38,000 jobs The country’s first airport railway express service soon starts construction after the government and proponents signed the P50.8-billion contract packages for PNR Clark Phase 2 (Malolos-Clark) segment of the P777.5-billion North-South Commuter Railway (NSCR) virtually over the weekend  (August 1, 2020). The construction is expected to generate 38,000 new local jobs in the midst of the COVID-19 pandemic. Department of Transportation (DOTr) Secretary Arthur Tugade led the virtual signing of the contracts, marking the start of civil works for the 53-km extension that will bring passengers from Makati City in Metro Manila to Clark International Airport in Pampanga in just under one  hour. The first signing was for the P32.7-billion Contract Package N-04, which covers the civil engineering and building works  6.3 kilometers of the main line and 1.6 kilometers of the depot’s access line with an underground station serving Clark International Airport. They also signed the P18.1-billion Contract Package N-05, which covers the civil engineering and building works for the Clark Railway Depot.  The depot covers an overall area of approximately 33 hectares.  The contract covers the construction of the Operations Control Center, stabling yard, workshops, training center and other ancillary buildings in Mabalacat, Pampanga. This proves that flagship projects under the government’s BUILD, BUILD, BUILD program continue despite challenges posed by the pandemic, Tugade underscored. The PNR Clark Phase 2 paves the way for the country’s first-ever airport railway express service, he reiterated. “Since the NSCR will feature the country’s first airport express train service allowing travelers to get from Makati to Clark Airport in under one hour, we can consider it as a trail-blazing project, ” the DOTr Secretary  elaborated. “To achieve this, trains will run at 160 kilometers per hour, making it one of the fastest modes of land public transportation.”  The signing of contracts is likewise timely, noted Asian Development Bank (ADB) Southeast Asia Director General Ramesh Subramaniam. “The civil works contracts will help kickstart the economic revival of the Philippines over the next 12 months as the country faces the pandemic ” he pointed out. Under the railway project, we estimate that 24,000 local construction jobs will be directly created during the next three years.  And another at least 14,000 jobs needed for operating the railway system,” according to Subramaniam. The signing of contracts is a major milestone for the Malolos-Clark Railway Project as well as for the Philippine transport sector, he added. Once partially operational by 2022, PNR Clark Phase 2 (Malolos-Clark), a 53-km rail line segment, will connect Malolos, Bulacan to Clark International Airport, will cut down travel time to 30-35 minutes, from the original 1 hour and 30 minutes. The DOTr signed contract Package N-04 was virtually signed with Acciona Construction Philippines, through Director Ruben Eugenio Garcia and Chief Financial Officer Angel Fernandez de la Pradilla, and EEI Corporation, through President and CEO Roberto Jose Castillo. Contract Package N-05 was virtually signed with POSCO Engineering and Construction Co., Ltd., through Executive Vice President Dong Ho Kim and POSCO E&C Vice President Sung Wook Chung......»»

Category: sportsSource:  abscbnRelated NewsAug 3rd, 2020

SM Prime income halved in H1 due to impact of pandemic

SM Prime Holdings Inc., one of the leading integrated property developers in Southeast Asia, posted a 46 percent drop in consolidated net income to P10.4 billion in the first half of 2020 from P19.3 billion in the same period last year. In a disclosure to the Philippine Stock Exchange, SM Prime said its consolidated revenue for the first six months of 2020 registered a 23 percent decline to P43.7 billion from P57.0 billion in the first six months of 2019. SM Prime said it continues to innovate and strategize to recover from the unprecedented effects of the pandemic brought about by Coronavirus Disease 2019 (COVID-19) including continuous support in the operations of tenants as well as assistance to various stakeholders across the country. “The first half of 2020 has been one of the most challenging periods we’ve faced as a company. With the government maintaining the implementation of quarantine protocols in most key areas in the Philippines where our businesses are, SM Prime is committed to sustaining its operations while adhering to the strict safety measures implemented by the government and continue providing convenience to our customers,” said SM Prime President Jeffrey C. Lim. SM Prime’s Philippine malls’ rent income dropped by 44 percent to P13.1 billion in the first half of 2020 from last year’s P23.3 billion on the back of lower mall revenue of P14.4 billion, 49 percent lower from P28.1 billion of the same period last year. This is driven primarily by waived rent and rental discounts granted to tenants since the start of the quarantine measures in March, which amounted to P11 billion as of end of June. SM Prime’s residential business, led by SM Development Corporation (SMDC), recorded P23.7 billion revenue in the first half of 2020, 11 percent higher from P21.4 billion in the same period last year. This accounts for 54 percent of the consolidated revenue of the Company. SMDC generated P42.4 billion reservation sales in the first six months of 2020, amidst the quarantine measures. SM Prime’s commercial properties business’ revenue has grown 16 percent to P2.5 billion in the first half of 2020. Operating income registered at PHP2.2 billion, 22 percent higher than P1.8 billion during the first half of the previous year. The offices business of SM Prime has business process outsourcing (BPO) offices as primary tenants, which were allowed by the Philippine’s Inter-Agency Task Force (IATF) to continue its operations throughout the quarantine period. The hotels and convention centers business segment contributed P1 billion to consolidated revenues in the first half of 2020 despite limited operations. Conrad Manila, Park Inn Clark, Park Inn North EDSA and Park Inn Iloilo remained operational to cater to BPO employees and returning overseas Filipino workers/seafarers. The Company’s biggest events center, the Mall of Asia Arena, on the other hand, was converted into Mega Swabbing Facility in partnership with various government agencies to help front- liners as well as returning overseas workers. “The Company is doing its part to help the country to contain the spread of the virus. For our employees and agency workers, we have conducted antibody rapid testing and RT- PCR testing during the start of GCQ in the country to assure the safety and uninterrupted delivery of services to customers and to protect its workforce,”Lim added......»»

Category: sportsSource:  abscbnRelated NewsAug 3rd, 2020

Pandemic hammers HSBC profits in H1

HONG KONG (AFP) – HSBC on Monday said profits for the first half of 2020 plunged by 69 percent on year as the banking giant was hammered by the coronavirus pandemic and spiralling China-US tensions. The lender reported post-tax profits of $3.1 billion while pre-tax profit was $4.3 billion, a 64 percent drop on the same period last year. Reported revenue was down nine percent at $26.7 billion. Chief executive Noel Quinn described the first six months of the year as ”some of the most challenging in living memory”. ”Our first-half performance was impacted by the COVID-19 pandemic, falling interest rates, increased geopolitical risk and heightened levels of market volatility,” he said in a statement to the Hong Kong stock exchange, Even by the standards of the current economic maelstrom engulfing global banks, HSBC has had a torrid year. Before the coronavirus crisis it was beset by disappointing profit growth, ground down by US-China trade war uncertainties and Britain’s departure from the European Union. The Asia-focused lender embarked on a huge cost-cutting initiative at the start of the year, including plans to slash some 35,000 jobs as well as trimming fat from less profitable divisions, primarily in the United States and Europe. The coronavirus upended some of that cost-cutting drive with banks hammered by market volatility and the economic slowdown caused by the pandemic. But HSBC has a further headache — geopolitical tensions via its status as a major business conduit between China and the West. HSBC makes 90 percent of its profit in Asia, with China and Hong Kong being the major drivers of growth.  Caught in crossfire As a result it has found itself more vulnerable than most to the crossfire caused by the increasingly bellicose relationship between Beijing and Washington. The bank has tried to stay in Beijing’s good graces. It vocally backed a draconian national security law that Beijing imposed on Hong Kong in June to end a year of unrest and pro-democracy protests. The move sparked criticism in Washington and London but analysts saw it as an attempt to protect its access to China, which has a track record of punishing businesses that do not toe Beijing’s line. But that has not shielded it from Beijing’s wrath. Last month the bank was a subject of multiple reports in China’s state-run media claiming that it had helped to provide the evidence that led to the arrest in Canada of Huawei executive Meng Wanzhou on a US arrest warrant. HSBC released a statement on its Chinese Weibo accounts saying it had not ”framed” telecom giant Huawei or ”fabricated evidence” that led to the arrest of Meng. China’s internet censors blocked access to HSBC’s statement within hours of publication, without offering an explanation. Quinn referenced the bank’s growing political vulnerability in Monday’s statement. ”Current tensions between China and the US inevitably create challenging situations for an organization with HSBC’s footprint,” he said. ”However, the need for a bank capable of bridging the economies of East and West is acute, and we are well placed to fulfill this role,” he added. The bank’s Asia operations continued to show ”good resilience”, Quinn said, with profit before tax of $7.4 billion. Earlier this year Quinn put some of the job cuts on hold as the pandemic struck. But in Monday’s statement he vowed to press ahead with the cost-cutting. ”As we seek to accelerate our transformation in the second half of the year, I am mindful of the impact it will have for some of our people, particularly those leaving us,” he said......»»

Category: sportsSource:  abscbnRelated NewsAug 3rd, 2020

GERI reports 37% profit fall, improving sales

Global-Estate Resorts, Inc. (GERI), Megaworld’s integrated tourism and leisure unit, reported lower earnings in the first half of the year although sales have started to recover in the second quarter. In a statement, GERI said that, excluding non-recurring gains, the company’s net income for the first half of the year reached P728 million, down 9 percent from P801 million during the same period last year. Attributable net income dropped 37 percent to P544.8 million in the first half of 2020 from P865.13 million in the same period last year. Consolidated revenues for the first half of 2020 registered at P2.9 billion, reflecting a 29 percent decline from P4.1 billion during the comparable period last year. On the other hand, rental income weakened by only 8 percent from P377 million last year to P347 million in the first half of 2020 even if mall operations were affected by the Taal eruption in the first quarter, and the strict quarantine measures in the second quarter. Hotel operations declined by 67 percent from P484 million last year to P162 million for the first six months of 2020 due to the quarantine restrictions during the period. However, the decline in revenues from the company’s core businesses was offset by the 30 percent reduction in costs and expenses, from P3.1 billion in the first half of 2019 to P2.2 billion this year. “Boracay was closed to tourists during the second quarter but as soon as the quarantine measures were relaxed in June, we saw a steep climb on the sales of our commercial and village lots in Boracay Newcoast. Buyers now prefer residential and leisure products in nature-rich settings outside of Metro Manila,” explained GERI President Monica T.Salomon. GERI’s reservation sales of residential projects during the second quarter of the year rose to P3.6 billion from P2.2 billion in the first quarter. The firm noted that the growth was achieved even as the country was placed on strict lockdown due to the coronavirus pandemic. It did not provide comparative figures for 2019. Residential projects in Boracay Newcoast in Aklan, Arden Botanical Estate in Cavite, Eastland Heights in Antipolo, Rizal,  and Hamptons Caliraya in Laguna comprised the bulk of sales during the first half of the year, which reached P5.8 billion. “When the news of a possible lockdown came out in mid-March, we had already braced for a conservative outlook for our residential segment,” said Salomon. She added that, “But, while the country was placed on strict quarantine, we saw aggressive take-ups of our provincial projects. In fact, on the average, our second quarter sales are 61 percent of what we have booked for the entire first half of 2020. And we still have enough inventory to address the demand for residential projects in these areas.”.....»»

Category: sportsSource:  abscbnRelated NewsAug 3rd, 2020

House panel eyeing legalization of motorcycle taxis

UP-NIH says use of helmets,  face shields protect riders The chairman of the House Committee on Transportation has given the green light to its technical working group (TWG) to convene and jumpstart the deliberation on the proposed resumption of the operations of motorcycle taxis, and the measures seeking to legalize the operations of the two-wheel vehicles. (JANSEN ROMERO / MANILA BULLETIN) This was the guidance given by Samar 1st District Rep. Edgar Mary Sarmiento to Navotas lone District Rep. John Reynald Tiangco during his panel’s recent virtual motu proprio probe on land transportation policies concerning the back-riding and motorcycle taxi operations.Tiangco heads the TWG, which was created by the House panel last January to thresh out the issues concerning the motorcycle taxi operations. Sarmiento approved the motion made by Manila 5th District Rep. Cristal Bagatsing for Congress to “spearhead the evaluation of the pilot study of motorcycle taxis”, along with other government agencies sitting at the TWG that earlier conducted pilot  tests on motorcycle taxis. Bagatsing laments that the TWG’s report on pilot testing “is lacking and seems to be rushed.”LTO Chief Assistant Secretary Edgar Galvante admitted that the report is “somewhat lacking”, explaining that some activities that were supposed to have been conducted have not been conducted at all because of the pandemic.The LTO official said the TWG focuses on the aspect of “safety evaluation” and not on the economic viability of the motorcycle. The Sarmiento panel called on  Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) and National Task Force (NTF) Against coronavirus disease (COVID-19)  to allow ride sharing or motorcycle taxis to operate, provided that the riders and drivers strictly follow heath protocols as sought by Quezon City 2nd District Rep. Precious Hipolito Castelo.  Castelo said by allowing the operation of the motorcycle taxis, the government will be able to augment its public transport system and respond to the transportation needs of the commuting public.The Sarmiento panel also decided to adopt the motion made by Iloilo City lone District Rep. Julienne “Jam” Baronda calling on the DOTr’s TWG to extend its  pilot tests for motorcycle taxis, which lapsed on March 23.During the hearing, Dr. Vicente “Jun” Belizario of the the University of the Philippines College of Public Health (UP-CPH) said they have been asked by motorcycle ride-hailing service Angkas to provide technical support to  develop guidelines promoting health and safety in motorcycle taxi operations during the time of COVID-19 and the new normal. “The guidelines that we have drafted are consistent with policies and protocols coming from international organisations— WHO (World Health Organisation), US Center for Disease Control and Prevention,” he said, citing that they also strongly considered the recommendations made by the Department of Health (DOH), the Department of Labor and Employment (DOLE), and the DOTr.Citing the study published in The Lancet, he said the chance of COVID-19 transmission is reduced if masks or respirators are worn, and the helmets may also function as face shields, thus not only reducing the risk of injuries, but importantly, increasing protection also from possible air droplet transmission. He said while, the use of the so-called barriers or shields provides an additional layer of protection, there should be “additional studies” on the potential role of barriers or the shield in preventing COVID-19 transmission in motorcycle back-riding. Citing the study published in The Lancet, Belizario also stressed that that with poor ventilation, you have increased the risk of respiratory infection, including COVID-19.He said for the control and prevention COVID-19, it is important to impose “diligent use” of a combination of proven measures or layers of protection. There must be heightened awareness among the public, internal and external monitoring by private company and government officials, and collaboration is needed more than ever to promote health and safety in the transport sector, Belizario stressed.During the hearing, George Royeca, Angkas Chief Transport Advocate, noted that they engaged the services of the Total Control, a motorcycle safety firm in the United States for the last 30 years, to design the shield “to make it very light weight and aerodynamic” and ensure its roadworthiness. “The weight of this shield is less than 1 kg so it does not hamper the operations of the motorcycle. Dito po nakalagay (It was indicated here), (the speed was) up to 30 to 40 kph na meron po syang sakay sa likod (and there was a backrider) , she felt almost no wind drag and she was able to manage it well with the driver leaning in to the turns because wala pong metal barrier na nakasagabal (there was no metal barrier) in between them, and then he brought it out to C-5, all the way up to 90 kph and based from his testimony, there was turbulence but not enough be able to throw them off balance, it still maintain the stability,” he said, as he presented the specifications of the Angkas shield, which was approved by the IATF, apart from the prototype of Bohol Governor Arthur Yap.He told the lawmakers that their designed shield “doesn’t break and (is) malleable.”.....»»

Category: newsSource:  mb.com.phRelated NewsAug 1st, 2020

After 30 years, a farmer now owns three gardens and provides jobs amid crisis, part 2

In part 1, Mary Ann Cogollo, a farmer from Iloilo, shares about how her 30-year gardening story began and evolved. Here, she talks about the hurdles she had to face that molded her for who she is today.   Trials behind the triumphs At the back of her success is an unsteady, challenging voyage that she had to endure. “It’s 30 years in the making and looking back to what I’ve been through and endured, my heart is full,” said Cogollo. Growing up, Camille, her eldest daughter, saw how she fell and risen many times, she says, “I witnessed how she carried the pails from our wells to water her plants, pull the weeds every day, carried potted plants to hide them because of the heavy storms, how she failed and endured everything, how she learned from her experiences, and how she managed to be a farmer, a gardener, and a mother to us.” A throwback photo of Cogollo taken in 1994 with her 5-year old daughter. Before the birth of the gardens, Cogollo had been gardening alone for 10 years. She did the propagation, watering, and application of fertilizers. It was a challenge for this gardener to find suppliers and to travel the plants from the city to their place, but the hardest to deal with is the weather. “Typhoons and extreme summer are two of the most difficult situations to handle as well as dealing with plant diseases and pests. I failed a lot, some of my plants weren’t a success, but I learned from them,” Cogollo added. Blooming profits The price for the plants in the flower farm ranges from P25 to P10,000 and up. On normal days, they get to sell hundreds of plants every month that differ based on the demand. Most of it is purchased by co-gardeners too. Cogollo said that this season has the highest sales so far to the point that they travel some plants to the other garden to fill the demand. When they opened last month, they were able to dispose of 3000 to 5000 pots, which allowed them to generate a minimum of 50k per day from all the gardens. A mother, farmer, and businesswoman As a mother of two, she lets her children participate in farmwork and immerse themselves in nature at a young age. As per Camille, Cogollo taught her how to plant when she was four and let her have her mini garden at home. Their youngest also helps in raising livestock since he was in grade six. “They let us oversee the farm the same way that my lolo did before. She’s taught me how to plant and to marcot, how to fertilize and water correctly, and educated me what plants can grow from cuttings and what plants need to be in full sun or in shade,” Camille added. Despite the crisis, Cogollo added that God still made a way to provide for her family and their farm workers. She finds herself staring at the sky and thanking God for not leaving her family and the families working for them after two months of farm closure. When many people began growing plants to improve lifestyle amid the crisis, her children told her, “Nay your dream is coming true, farming and gardening are taking its shape, gakatabo na nay (it’s finally happening).” Cogollo only hopes for the public to continue appreciating nature and to start growing plants.   Farming has been her life ever since. The life she chose is the same life lived by her parents and grandparents and according to her, to be able to help others while pursuing your passion is a blessing.  Current situation As the government implemented enhanced community quarantine (ECQ) to halt the spread of COVID-19, they had to close their gardens for two months. Since they only allow walk-ins and do not offer delivery services, they had no income from the garden. For Cogollo, those two months were the hardest; there were no landscaping projects but they had to give salaries to the employees every weekend. They thought of stopping their daily farm operations, but their musings brought them back to their primary goal, which is to provide the workers’ livelihood. They hired five more people who lost their jobs during those two months and didn’t stop propagating and maintaining the gardens. All smiles on her farm – As per Cogollo, the crisis allowed them to pause and see what they can do better. Living on a farm is an advantage because it’s COVID-free and their staff live nearby so they carry on with their daily work in the gardens and farm. Fortunately, after two months, a sudden increase in demand for plants began. The crisis has become as she calls it, “a ‘plantdemic’ for Ilonggos.” Their gardens re-opened for visitors when Iloilo was placed under GCQ (general community quarantine). From then on, the farm was amplified by different networks through social media and word of mouth. Despite their location, they were shocked that people kept visiting or asking about their gardens’ location. At some point, they were afraid due to the increasing numbers of visitors and of the risks it can entail that might harm their whole community. However, it was all worth it because according to Cogollo, “We know our dream is coming true. Farming/Gardening is taking shape.” They were also supposed to put up a garden café and park last May but due to these circumstances, things didn’t go as planned. In the future, they see the garden as a haven where people can stroll and appreciate and realize the beauty of nature. Photos from Dafalongs Flower Farm. For more information, visit the Dafalongs Flower Farms......»»

Category: sportsSource:  abscbnRelated NewsJul 30th, 2020

DTI wants additional P5 billion for MSMEs assistance

The Department of Trade and Industry needs an additional P5 billion for its lending program for micro and small enterprises affected by the COVID-19 pandemic......»»

Category: financeSource:  philstarRelated NewsJul 29th, 2020

PBA, other pro sports cleared to resume training

Professional sports including the PBA has received the green light to resume training after the Joint Administrative Order of the Games and Amusements Board, the Philippine Sports Commission and Department of Health was signed on Monday. GAB chairman Baham Mitra, PSC chairman William ‘Buth’ Ramirez and Health secretary Francisco Duque signed the JAO. "Chairman Ramirez, Secretary Duque, and I have already signed the joint admin order,” said Mitra in a statement. “We are so happy and excited that finally after more than four months our professional football and basketball players can now shake off some pounds they may have acquired during the quarantine." The clearance came a month after Mitra together with Commissioners Ed Trinidad and Mar Masanguid approached the Inter-Agency task Force (IATF) and DOH to ask for their guidance on how to safely reboot the operations of professional sports in the country amid the coronavirus pandemic. With the development, professional sports are expected to return to action soon. "We expect them to practice maybe for a month or two to be match fit and hopefully when quarantine levels go down, they may be allowed to eventually play. It is effective immediately," Mitra said. Teams from the PBA and the Philippine Football League can now resume training following strict health and safety guidelines and protocol. The PBA, however, will only start training once all the teams have completed their swab-testing.    .....»»

Category: sportsSource:  abscbnRelated NewsJul 27th, 2020

Boxing cleared to resume by IATF, says GAB chairman Baham Mitra

Pinoy boxers and boxing fans have reason to celebrate after the announcement that the IATF (Inter-Agency Task Force on Emerging Infections Diseases) has given the boxing the clearance to resume.  According to Games and Amusements Board Chairman Abraham “Baham” Mitra the IATF has allowed boxing to return, but will need to follow a set of health guidelines.  Earlier this month, sports like football and basketball (albeit a slight delay) were already given the green light to resume practice.  “Ang nai-pasok na po namin ay practice ng basketball and football, and then yung boxing, pumayag na, na magkaroon ng boxing, provided that both boxers and the referees, they test, yung negative sila, and then after three days, laban na sila,” Chairman Mitra revealed on an episode of The Chasedown. “After testing, ico-confine sila, para hindi mahawa ulit or [maka-hawa].” Boxing is just one of the many sports all over the world that was forced to hit pause following the exposion of the COVID-19 pandemic.  In June however, boxing returned in the United States, with Top Rank Boxing starting to put on events.  According to Chairman Mitra, boxing events in the Philippines will feature a significantly slimmed down card with a maximum of just five bouts, a far cry from the previous norm of at least ten bouts per event.  “Yung sa boxing, maximum if five bouts. Ibig-sabihin, sampung boksingero lang pwede. Dati kasi ten or fifteen, or twelve fights in a day,” Chairman Mitra explained. “Ngayon, maximum of five lang, kasi ang pinapayagan lang ay sampu.”  Before fighters can step inside the ring however, they will need to undergo testing three days prior to fight night and then remain confined or quarantined so as to avoid contracting the disease.  “These boxers will be tested three days before the fight and then they will be confined, and then weigh-in, and then fight, and then after the fight, they will also be tested,” Chairman Mitra continued. “Wala na pong rapid test yung before. Yung rapid test, after na lang. Lahat swab test para sigurado, para halos walang error.” The swab testing, Chairman Mitra explained, is for maximum accuracy.  “We’re also scared, ano? We might be held liable na ‘Pinayagan ng GAB yan eh’. Kami naman, sumusunod lang kami sa IATF, ang sabi nila papayagan lang namin kayo mag-boxing kung negative parehas.” Apart from the boxers themselves, the third men in the ring will not only need to be tested but are also required to wash up and change clothes after every bout they officiate.  “So even the referee will also be tested, because he will be in the middle eh, and then the referees will be asked to wear short sleeved shirts and then wash [after] every bout, change t-shirt, change uniform [after] every bout.”  Chairman Mitra added that judges will be placed further away from the ring, and only essential personnel will be allowed in the venue during events.  “Tapos yung mga judges, hindi na sila beside the ring, medyo malayo na sila. Yung commentators will be outside of the venue, and only one or two camera people will be involved, and then as much as possible, we will not be allowing yung mga 21 and below or 60 and above, except if it’s essential. For example, almost all promoters are above 60, so okay lang yan.” As with most sports that have been able to return during the pandemic, there will be no audiences allowed.  Chairman Mitra expects the new guidelines to be released by Monday next week, and then for PBA and PFL practices to resume by the end of next week......»»

Category: sportsSource:  abscbnRelated NewsJul 26th, 2020

Banks extend P71 billion loans to MSMEs during lockdown

Philippine banks granted and refinanced loans amounting to P71 billion to help micro, small, and medium enterprises survive the economic fallout from the global pandemic, according to Bangko Sentral ng PilipinasGovernor Benjamin Diokno......»»

Category: financeSource:  philstarRelated NewsJul 25th, 2020

Technology drives IPOPHL amid pandemic

As the Philippines continues to feel the adverse effects of the coronavirus disease (COVID-19), the Intellectual Property Office of the Philippines (IPOPHL) has continued its services in its quest to provide its much-needed assistance. In a statement, the IPOPHL said that the continuity of their operations and provision of services as the country transitions to […] The post Technology drives IPOPHL amid pandemic appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsJul 25th, 2020

‘Buyanihan’ puts MSME online free

Computer software and application developer CloudPanda with help from economic agencies had stepped in to lend the needed boost and help for micro, small and medium enterprises (MSME) to survive the damaging effects of the pandemic. As the world race to find a vaccine that can help stop the further spread of the coronavirus, nations […] The post ‘Buyanihan’ puts MSME online free appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsJul 23rd, 2020

PDEA to revalidate drug cleared barangays in Bicol

LEGAZPI CITY, July 20 (PIA)-The Philippine Drug Enforcement Agency (PDEA) Region 5 will not cease to enforce anti-illegal drug campaigns and operations amidst the Coronavirus Disease pandemic......»»

Category: newsSource:  manilanewsRelated NewsJul 23rd, 2020