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Record exports propel trade to 17-month high in March

External trade grew 22.5% on-year to $15.78 billion in March, the largest since the $16.26 billion worth of shipments recorded in October 2019......»»

Category: financeSource: philstar philstarMay 7th, 2021

US budget deficit hits record high in March

The COVID-19 pandemic did not have a big impact on the first six months of fiscal 2020, as increased outlays tied to rising unemployment due to pandemic-related lockdowns and major new aid spending did not start until the very end of March 2020 and ramped up in the following month, a Treasury official told reporters......»»

Category: financeSource:  philstarRelated NewsApr 13th, 2021

Biden knocks Trump as rivals barnstorm heartland in election finale

Joe Biden intensified his attacks Friday on President Donald Trump as they battled over the American Midwest, chasing every last vote with four days to go in a region that propelled the Republican to victory in 2016. RUS President Donald Trump speaks during a campaign rally at Rochester International Airport October 30, 2020 in Rochester, Minnesota. With Election Day only four days away, Trump is campaigning in Minnesota despite the recent surge in coronavirus cases in the state. In accordance with state orders, only 250 people will be able to attend the rally with Trump while thousands of others will gather outside the airport to watch on a large television screen. (Chip Somodevilla/Getty Images/AFP) Trump and Biden barnstormed three heartland states each — with a resurgent coronavirus passing the milestone of nine million cases as they hit the stump — highlighting their differences in a race overshadowed by the pandemic. Trump, heralded a “big day” of campaigning as he left the White House, then held a rally in Michigan before heading to Wisconsin and Minnesota, all states battling climbing numbers of virus cases. “We just want normal,” Trump told supporters — many of them unmasked — at an outdoor rally near Detroit as he pushed states to relax public health restrictions and resume daily life. He again bucked his own administration’s health experts as he downplayed the Covid-19 threat, saying “if you get it, you’re going to get better, and then you’re going to be immune.” Covid-19 has killed nearly 230,000 people in the US, which is experiencing surges in most states as the winter flu season looms. The outbreak has ravaged the economy, and while there have been signs of recovery, millions remain jobless. Biden was also stumping in Wisconsin and in Minnesota, where he sharpened his attacks on the president on everything from Trump seeking to dismantle Obama-era health care protections and keep his taxes secret to climate change and trade policy with China. “We can not afford four more years of Donald Trump,” the 77-year-old Democrat said at a socially distanced drive-in rally in St. Paul, Minnesota. “So honk your horn if you want America to lead again!” he said, embracing the awkward pandemic-era campaign trend of rallying supporters in their vehicles. “Honk your horn if you want to have civility again, and honk your horn if you want America to be united again!” Earlier in Iowa he attacker Trump over his handling of the pandemic. “Donald Trump has given up (and) waved the white flag,” Biden told a drive-in rally with more than 300 cars in Des Moines. – ‘Less divided’ – Trump flipped Iowa, Michigan and Wisconsin from the Democrats to clinch his shock victory four years ago.  Now polls show Biden leading in all three, albeit narrowly in Iowa. It was Biden’s first visit to Iowa since his inauspicious campaign start in February, when he placed a dismal fourth in the opening Democratic nominating contest. So can Biden win over enough voters to prevail in the Hawkeye State? “I wouldn’t put money on it,” Iowa attorney Sara Riley, 61, said at Biden’s event, although she was more confident about him clinching the White House. “I think Americans, even Trump supporters, want to get to a place where the country is less divided,” Riley said. With voters concerned about the health hazards of crowded polling stations on November 3, a record 86 million have already cast early ballots by mail or in person. Even as the US hit a grim new high in daily Covid-19 infections Thursday, Trump has stuck to his guns, downplaying the dangers and branding Democrats as rampaging “socialists” intent on shuttering the country. And while Trump has touted the economic successes of his presidency, including positive GDP figures Thursday, US stocks closed out their worst week since March, highlighting concerns about a shaky recovery. – ‘Turn Texas blue?’ – After a campaign largely muted by the pandemic, Biden is on the offensive, pushing Trump onto the back foot in unexpected battlegrounds like Texas, a large, traditionally conservative bastion now rated a toss-up by multiple analysts. On Friday the state reported that a staggering nine million residents had already voted, surpassing its entire 2016 total. Biden’s running mate Kamala Harris visited Texas Friday in a bid to turn the state Democratic for the first time since president Jimmy Carter in 1976. “We have a chance to turn Texas blue,” the 96-year-old Carter said in a fundraising email. Biden winning there would be a dagger to Trump, but the president dismissed the notion, saying: “Texas, we’re doing very well.” Trump and Biden are focusing their greatest efforts on traditional battlegrounds that will decide the election — such as Florida, where both campaigned on Thursday. On Saturday Biden returns to the Midwest bringing with him perhaps his strongest surrogate: ex-president Barack Obama, making his first joint in-person campaign appearance of the year with his former VP. Motown music legend Stevie Wonder will join them, the Biden campaign said. Trump will spend the day campaigning in the critical state of Pennsylvania, where he narrowly trails Biden in polls. Biden will follow suit there both Sunday and Monday in a clear sign that his campaign sees the Keystone State as absolutely crucial to his victory......»»

Category: newsSource:  inquirerRelated NewsOct 31st, 2020

No paychecks for 11 big leaguers: advance larger than salary

By RONALD BLUM AP Baseball Writer NEW YORK (AP) — Grant Dayton will notice one glaring absence this season after he reports to the Atlanta Braves: his twice-a-month salary. He is among 11 major leaguers whose prorated pay for the abbreviated 60-game season amounts to less than the $286,500 advance already received by the 32-year-old left-hander. “It’s going to be weird not getting a paycheck,” he said Friday, “but we already got paid.” Dayton gave up the 6,776th and final home run of of last season's record total, to the New York Mets' Dominic Smith. To resume preparation for the new season he will drive Monday from his home in Winter Haven, Florida, to Atlanta with wife Cori, 2 1/2-year-old son Decker and nearly 6-month-old Nolan for Braves' workouts at Truist Park. After opening day was postponed because of the coronavirus pandemic, Major League Baseball and the players’ association agreed March 26 to a deal that called for teams to advance $170 million in salaries over the first 60 days of the season. Others who won’t get paychecks because of lower prorated salaries are Los Angeles Dodgers pitcher Jimmy Nelson and New York Yankees reliever Jonathan Holder ($277,778 each), Pittsburgh infielder Erik Gonzalez and Minnesota pitcher Matt Wisler ($268,519 apiece), Philadelphia catcher Andrew Knapp ($262,943), Chicago Cubs pitcher Jharel Cotton ($237,037), pitchers Collin McHugh of Boston, Ross Stripling of the Dodgers and Jesse Hahn of Kansas City ($222,222 each) and Milwaukee pitcher Freddy Peralta ($575,200). “My first reaction was, wow, if we don’t have any games this year, I’m going to get paid the same amount that Freddie Freeman’s getting paid, so that’s pretty cool,” Dayton said in a reference to his teammate, a four-time All-Star first baseman with a $22 million salary that was cut to about $8.15 million. “I knew that there was going to be a point that if we resume games, I wouldn't get paid. And I was OK with that because we still received significant amounts of money and we’re fine.” Each of the roughly 480 players with so-called “straight” contracts that call for a single salary received $286,500. The 769 players with “split” contracts that have a lower salary in the minor leagues — generally a younger group not yet eligible for arbitration — got either $16,500, $30,000 or $60,000, depending on their minor league pay level. Dayton, who has spent parts of three seasons in the majors, has a $655,000, one-year contract. His prorated salary for the short season will be $242,593, assuming the contagion does not cause more games to be canceled. The group won’t have to return any cash because the March deal states “in the event there is a 2020 championship season, any amounts advanced to individual players that cannot be recouped by clubs via payroll deduction during the 2020 season for any reason shall be reimbursed to clubs from the International Tax Fund at the conclusion of the 2020 season.” That tax fund is money collected from teams that exceeded their specified bonus pools to sign high-priced Latin American amateurs. “We’re blessed because we’re getting more money than the prorated amount,” Dayton said. Most of the group has relatively low salaries for arbitration-eligible players because of injuries that sidelined them and reduced their statistics. Nelson returned last June from shoulder surgery and was limited to three starts and seven relief appearances. McHugh missed September and the postseason with a sore right elbow and signed a deal with a $600,000 salary and $3.65 million in performance and roster bonuses. Cotton, Dayton, Hahn and Stripling all were interrupted by elbow surgery early in their careers, and Gonzalez missed more than half of last season after breaking his collarbone. Peralta has a low salary in 2020 as part of a $15.5 million, five-year contract he agreed to in March. Dayton was 0-1 with a 3.00 ERA in 14 relief appearances last year and is 1-3 with a 3.34 ERA in 68 big league games that included time with the Dodgers in 2016-17. He wonders how he will fare in arbitration next winter. “It's going to be a weird year and a short season, but I guess they’re going to have to treat it on paper like a real season, a championship season," he said. "And as far as contracts go in the future, they’re going to have to take the stats this year, which is kind of scary for a relief pitcher, to be honest because you have one bad game, it takes a whole year to get that back. The slow starters can't be slow starters anymore." Stripling, a financial adviser for B. Riley Wealth Management when he’s not playing baseball, negotiated a $2.1 million deal in January but was able to have $1.5 million designated as a signing bonus, which is protected and not reduced. Only the $600,000 specified as salary in the contract gets prorated. “It will be strange to receive no money or paychecks throughout the year,” he said. “I’m thankful for my background in finance, because I’m comfortable with my ability to budget. I do worry about the 10 other guys in my situation. Technically will be receiving zero income until next April. That’s a long time to budget ahead.” One option for players could be licensing money they are owed that had been retained for them by the union. “Our PA is offering a stipend of sorts for guys in similar situations,” Stripling said. “But I don’t know how much money or how often they can receive it. It also comes from our `war chest,′ which is money saved for salaries in case of a work stoppage in 2022. Most guys will try to avoid pulling money from that unless they are in dire situations.”.....»»

Category: sportsSource:  abscbnRelated NewsJun 27th, 2020

Record exports, imports growth lifts foreign trade in April

Despite a brief return to suffocating coronavirus lockdowns, trade continued its ascent in April on the back of record rise in both imports and exports, but the figures hardly reflect a convincing recovery......»»

Category: financeSource:  philstarRelated NewsJun 9th, 2021

Banks’ NPL ratio hits fresh 11-year high of 4.21% in March

The gross non-performing loan ratio of the banking sector rose for the third straight month to a fresh 11-year high of 4.21 percent in March from 4.08 percent in February as soured loans continued to soar amid the resurgence of COVID-19 cases, according to the Bangko Sentral ng Pilipinas.....»»

Category: financeSource:  philstarRelated NewsMay 10th, 2021

Philippine exports, imports bounce back in March

The country’s trade of goods jumped in March from February, with both imports and exports posting significant upticks following the slight reopening of the economy......»»

Category: newsSource:  philstarRelated NewsMay 7th, 2021

NG debt rises to new record high of P10.77 trillion

The national government’s total outstanding debt rose to a new record high of P10.774 trillion in end-March, still mostly domestic borrowings, to fund its pandemic response, the Bureau of the Treasury said yesterday......»»

Category: financeSource:  philstarRelated NewsMay 4th, 2021

Pandemic costs bloat gov t debt to new record-high in March

The government continued to accumulate more debt in March as the country’s needs amid the lingering coronavirus pandemic grow......»»

Category: financeSource:  philstarRelated NewsMay 3rd, 2021

Foreign reserves declined for third month to $104.8 billion

The country’s gross international reserves fell for the third straight month in March to $104.82 billion from an all-time high of $110.117 billion in December 2020, pulled down by the government’s debt servicing, the Bangko Sentral ng Pilipinas said Friday......»»

Category: sportsSource:  abscbnRelated NewsApr 16th, 2021

Philippines enters April with 8,920 new COVID-19 cases, total at 756,199

The Philippines saw 8,920 new coronavirus cases on the first day of April, after record-high increases under a surge that began last month......»»

Category: newsSource:  philstarRelated NewsApr 1st, 2021

NEW RECORD: Phl reports 118,000 active cases with 9,595 new infections

The number of active coronavirus cases in the Philippines reached an all-time high of 118,122, after the health department recorded 9,595 new infections on Saturday. The new cases broke the country’s straight two-day spike, but it pushed the total active infections up 118,122, beating the Friday’s record of 109,018. For five times this month, the […] The post NEW RECORD: Phl reports 118,000 active cases with 9,595 new infections appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsMar 27th, 2021

PH logs another record-high daily COVID-19 tally at 9,838 cases

BY ANALOU DE VERA The Department of Health (DoH) reported 9,838 additional infections on Friday, breaking the daily record for new coronavirus disease (COVID-19) cases. The new cases broke the previous record of 8,773 cases logged only on Thursday, March 25. The new infections brought the number of active cases in the country to 109,018. […].....»»

Category: newsSource:  tempoRelated NewsMar 26th, 2021

In new record high, Philippines reports 8,019 new COVID-19 cases

The Philippines reported 8,019 new COVID-19 cases on March 22, a new record high that came as the surge in cases continued for days now......»»

Category: newsSource:  philstarRelated NewsMar 22nd, 2021

DOH Logs Record-High 7,999 New COVID-19 Cases in a Day

7,999 new coronavirus disease 2019 (COVID-19) cases were recorded anew by the Department of Health (DOH) on Saturday, March 20, marking the highest daily tally of new cases of the virus in the country. Today’s new COVID-19 cases tally was higher than on Friday, where 7,103 new cases were tallied. Recorded active cases in the […].....»»

Category: sportsSource:  abscbnRelated NewsMar 20th, 2021

Cinemas, arcades remain closed; Pinoys abroad free to come home

The government has suspended the operation of several businesses in general community quarantine (GCQ) areas—including Metro Manila—for 14 days, starting March 22 as COVID-19 cases continued to surge, hitting a record high of more than 7,000 new cases in a day, Malacanang said Friday......»»

Category: newsSource:  thestandardRelated NewsMar 19th, 2021

ITC postpones the initial decision on the battery patent lawsuit between LG and SK

SEOUL, March 19 (Yonhap) – The US International Trade Commission (ITC) said Friday that it has postponed, to next month, the initial decision on a.....»»

Category: newsSource:  thedailyguardianRelated NewsMar 19th, 2021

‘Halad sa Kababayen-an’ art exhibit helps empower women this Women’s Month

  CEBU CITY, Philippines —  With over 20 art pieces made by young students in Cebu, Halad sa Kababayen-an speaks for women’s equality and empowerment. The University of San Carlos-Senior High School-South Campus in partnership with Legal Alternatives for Women (LAW) Center Inc, is the brains behind this powerful exhibit launched last March 8 up […] The post ‘Halad sa Kababayen-an’ art exhibit helps empower women this Women’s Month appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsMar 14th, 2021

UK economy sinks on virus curbs, Brexit trade regime

London---Britain’s economy hit reverse in January on renewed coronavirus curbs while the nation’s post-Brexit EU goods exports suffered a record collapse, official data showed Friday......»»

Category: financeSource:  thestandardRelated NewsMar 12th, 2021

PH’s COVID-19 active cases top 50,000 anew; per day infections hit another record high at 4,578

MANILA, Philippines — Active COVID-19 cases in the country have again breached the 50,000-mark on Friday as the Philippines likewise logged another record high of 4,578 new infections in a day. The Department of Health (DOH) reported that COVID-19 active cases nationwide stand at 52,012 – a year after the new coronavirus pandemic was declared on March […] The post PH’s COVID-19 active cases top 50,000 anew; per day infections hit another record high at 4,578 appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsMar 12th, 2021

Pag-IBIG housing loans hit record high in December

Housing loans released by the Home Development Mutual Fund, also known as the Pag-IBIG Fund, hit P12.11 billion in December, the highest ever made in a single month......»»

Category: financeSource:  philstarRelated NewsJan 29th, 2021