SHFC clients get loan reprieve amid Covid-19 outbreak

Social Housing Finance Corporation (SHFC) is implementing a three-month moratorium on the payment of loan amortization of its partner-homeowners from March 16 to June 16. This is SHFC’s answer to the call of President Rodrigo Duterte to exhaust all efforts to respond to the needs of Filipinos amid the threat of Covid-19 in the country. […].....»»

Category: newsSource: manilatimes_net manilatimes_netMar 27th, 2020

Banks told to implement debt reprieve

The Bangko Sentral ng Pilipinas has directed banks and other financial institutions to immediately comply with the provisions of a new law including the 60-day reprieve on loan payments amid the coronavirus disease 2019 or COVID-19 pandemic......»»

Category: financeSource:  philstarRelated NewsSep 20th, 2020

Banks borrow P6.9 billion from BSP’s rediscount facility

Banks borrowed P6.86 billion from the peso rediscounting loan facility of the Bangko Sentral ng Pilipinas last month to meet their temporary liquidity needs amid the coronavirus disease 2019 or COVID-19 outbreak......»»

Category: newsSource:  philstarRelated NewsApr 13th, 2020

Best-case scenario for Tokyo Olympics is ‘venues full of spectators’

Tokyo Governor Yuriko Koike, wearing a protective face mask, arrives for a news conference at the Foreign Correspondents’ Club of Japan, amid the coronavirus disease (COVID-19) outbreak, in Tokyo, Japan, November 24, 2020. REUTERS/Issei Kato TOKYO—Tokyo Governor Yuriko Koike said on Tuesday that the best case scenario for the 2020 Olympics postponed until next year […].....»»

Category: newsSource:  balitaRelated NewsNov 24th, 2020

Security Bank allots P21 billion for loan losses

Security Bank Corp. has set aside P21.1 billion for potential credit losses in nine months as it continues to help clients survive uncertainties brought about by the COVID-19 pandemic......»»

Category: financeSource:  philstarRelated NewsNov 14th, 2020

The Atom Araullo Specials presents ‘Pangakong Lunas’ this Sunday

This Sunday (November 15), The Atom Araullo Specials presents another documentary that tackles the issue of the country’s healthcare system amid the pandemic. Prior to the COVID-19 outbreak, Atom Araullo has been following the story of Arturo Solon, an albularyo or herbalist from Cavite. Arturo calls himself “Jesus Man,” claiming that he can make the lame walk and heal even those gravely ill. According to Arturo, he already died before but was resurrected. And from there on, he got his gift. His popularity went past his chapel where people line up with the hope of being cured; he also amassed thousands of followers on social media. Meanwhile, Atom first met Evangeline in February this year. In a day, Evangeline takes 18 capsules of a supplement for her breast cancer. But instead of getting better, her health slowly deteriorated. In the past few months, the National Bureau of Investigation has conducted raids on several groups who sell unregistered medicines that claim to cure COVID-19. During the pandemic, healthcare was one of most hardly-hit . Will the sick find the cure that they badly need? Find out in The Atom Araullo Specials’ “Pangakong Lunas” this Sunday, November 15, 3:45 p.m., on GMA-7......»»

Category: newsSource: NewsNov 12th, 2020

Rice farmers seek bigger financial aid

The one-time financial assistance that the Senate directed the Department of Agriculture (DA) to provide to rice farmers amid the declining prices of palay would not be enough, a group of rice farmers said. (MB file, Keith Bacongco) Federation of Free Farmers (FFF) National Manager Raul Montemayor said rice farmers have lost an average of P10,000 per hectare in the ongoing cropping season due to severely depressed palay prices.   This was his response to the joint resolution recently passed by the Senate Committees on Agriculture and Agrarian Reform, which ordered the DA to appropriate some P3 billion in tariffs from rice imports through the 2021 national budget for cash aid to rice farmers. Under the Rice Tariffication Law (RTL), which allowed unlimited rice importation in the Philippines, tariff collections in excess of P10 billion per year can be used for additional support to farmers, including cash transfers. FFF, however, noted that the proposed appropriation would only provide P5,000 per farmer if distributed to some 600,000 farmers tilling one hectare or less.   If the actual number of qualified farmers is raised to 1.1 million, the subsidy would only amount to about P2,700 per farmer. Either proposal will be unfair to equally affected rice farmers tilling larger areas, the farmers’ group said.   Instead, Montemayor said the government could keep palay prices stable by temporarily imposing safeguard duties or additional tariffs on imported rice. “The government allowed unlimited rice imports, resulting in low palay prices.  Now, it will spend P3 billion to partially offset farmers’ losses. If it had instead imposed additional duties on imports, palay prices would not have dropped too much, there would have been no need for cash aid to farmers, and the government might have even earned extra revenues from the safeguard duties,” said Montemayor. Under the Section 10 of RTL or Republic Act (RA) 11203, in order to protect the Philippine rice industry from sudden or extreme price fluctuations, a special safeguard duty on rice shall be imposed in accordance with Safeguard Measures Act.   R.A. 8800 or the Safeguard Measures Act, on the other hand, allows additional safeguard duties on top of regular tariffs in case an import surge is shown to be harmful to local farmers.   “Safeguard duties will not be inflationary as claimed by the DA, because they will be applied only when there is already a proven oversupply in the market.  They can be removed once the situation stabilizes,” said Montemayor. Agriculture Secretary William Dar is not keen on slapping additional tariff on rice imports, and has repeatedly appealed for public understanding about the “short-term” effects of RTL to palay prices. However, he promised to look for other solutions to the plea of the farmers like asking the National Food Authority (NFA), which buys palay at P19 per kilogram (/kg) to boost the government’s buffer stock, to intensify its palay procurement.   Instead of cash aid, the FFF proposed that existing funds from the Rice Competitiveness Enhancement Fund (RCEF) and extra tariff collections be re-focused to address current problems of farmers.   It noted that half of farmers receiving free seeds under the RCEF had already been using certified seeds in the past, and that many were seeking other types of support that were not available under RCEF.   Numerous farmers have also questioned the DA’s promotion of seed varieties like NSIC Rc222, which is of poor quality and are being shunned by traders. “Also, the P5 billion annual fund for mechanization is not moving well, and it might be more practical at this time to preserve job opportunities for farm laborers instead of displacing them with machines,” Montemayor said.   “Moreover, the P1 billion budget for extension and training could be realigned, considering that farmers cannot attend training activities due to COVID-related restrictions. The P1 billion for credit could be better used for interest rate subsidies or loan guarantee programs, instead of direct loans which will benefit only 20,000 farmers,” he added......»»

Category: lifestyleSource:  abscbnRelated NewsOct 19th, 2020

Latest COVID-19 watch: 136 doctors die of COVID-19 in Indonesia: data

A medical worker takes rapid test sample from a woman amid the COVID-19 outbreak in Medan, North Sumatra, Indonesia, Oct. 13, 2020. (Photo by Bima/Xinhua)-136 doctors die of COVID.....»»

Category: newsSource:  philippinetimesRelated NewsOct 15th, 2020

Chelsea avails of loan payments extension

Chelsea Logistics and Infrastructure Holdings Corp., the shipping and logistics business of Davao-based tycoon Dennis Uy, has availed of loan payments extension provided under Bayanihan Acts 1 and 2 to ease its cash flow as it sees a long recovery ahead amid the negative impact of the COVID-19 pandemic......»»

Category: financeSource:  philstarRelated NewsOct 10th, 2020

BPI Direct BanKo loan disbursements hit P13 billion

The microfinance arm of Ayala-led Bank of the Philippine Islands is helping clients particularly micro, small and medium enterprises survive the coronavirus disease 2019 or COVID-19 pandemic......»»

Category: financeSource:  philstarRelated NewsSep 28th, 2020

Stalled stimulus talks make for uncertain US jobs report

Setbacks in the US quest to reopen the economy and a deadlock in Congress have cast uncertainty on the labor market ahead of a key government jobs report Friday. The world’s largest economy has unraveled in recent months amid a terrifying Covid-19 outbreak that caused more than 186,000 deaths and tens of millions of layoffs […] The post Stalled stimulus talks make for uncertain US jobs report appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsSep 4th, 2020

Medical wastes in Davao Region soar with COVID-19 pandemic

DAVAO CITY (MindaNews / 25 Aug) – The volume of medical wastes being thrown away in Davao Region has increased over the past three months amid the raging coronavirus disease (COVID-19) outbreak, according to an executive of RAD Green Solutions Corporation, which treats 50 tons of used personal protective equipment (PPE) a month with its […].....»»

Category: newsSource:  mindanewsRelated NewsAug 29th, 2020

Davao City councilor throws support for journalists’ welfare, safety amid COVID-19

DAVAO CITY (MindaNews / 12 Aug) – As an expression of support for media workers, Davao City’s First District Councilor Pamela A. Librado reiterated calls for press freedom and protection of journalists against human rights violations, attacks, and unfair labor practices, amid the coronavirus disease (COVID-19) outbreak in the country. In her privilege speech delivered […].....»»

Category: newsSource:  mindanewsRelated NewsAug 13th, 2020

Solons to gov’t: Heed the plea of medical workers

Lawmakers expressed all-out support on Sunday (August 2) to the appeal made by Philippine College of Physicians and the Philippine Medical Associationto shift Mega Manila back to a 15-day enhanced community quarantine (ECQ), even as they sought a change in leadership in the Department of Health (DOH) and other agencies handling the country’s response against COVID-19. (JANSEN ROMERO / FILE PHOTO / MANILA BULLETIN) Albay 1st District Rep. Edcel Lagman, Anakalusugan partylist Rep. Michael Defensor, Bayan Muna partylist Rep.  Carlos Isagani Zarate, and Quezon City  2nd District Rep. Precious Hipolito Castelo called on the government to heed the plea of the medical experts and frontliners for more stringent health protocols in critical areas. “While both the health and economic crisis wrought by  the still ravaging COVID-19 pandemic must be both effectively addressed, the relief and recovery of the people’s health must be prioritized. Lives lost are forfeited forever but businesses lost can be redeemed,” Lagman said in a statement.“We must learn from the bitter lesson experienced by other countries like Japan which prematurely reopened economic, leisure and domestic travel activities only to be besieged later by a resurgence of the viral contagion,” he stressed.  Defensor, chairperson of the House Committee on Public Accounts, said, “If our leading doctors are prescribing it, then as good patients, we are all for Mega Manila’s brief return to an ECQ.” “Our sense is, our public health system is on the verge of collapse, and the momentary return to an ECQ will buy everybody more time to gird for a longer battle against the coronavirus disease,” he said. He said once the government gives in to the appeal, the COVID-19 National Task Force should take that opportunity to fix the lack of hospital staff due to doctors, nurses and other personnel getting infected and still recovering, or undergoing routine seclusion after possible exposure; expand the bed capacities of makeshift hospitals and quarantine facilities; and improve case-finding and the isolation of suspected cases. Defensor said the government should also step up contact-tracing and quarantining; upgrade public transportation options and safety; strengthen workplace protection; build up enforcement of and public compliance with self-protective measures such as the wearing of face masks and face shields, handwashing as well as social and physical distancing; and increase financial and livelihood support to distressed households. Zarate said they are one with our frontliners in demanding a reprieve from the overwhelming cases of COVID-19, particularly in the National Capital Region. “Reverting back to ECQ or whatever level of lockdown is useless or will be for naught if the primary recommendation of frontliners like free mass testing, pro-active contact tracing, isolation and treatment will not be seriously implemented by the government,” he said in a statement. For her part, Castelo said, “Let us listen to them. They are the ones on the frontline. Indeed, after five months of fighting this pandemic, they are exhausted physically, emotionally and mentally.” She laments that several doctors and nurses have died and many others have fallen sick while battling COVID-19. “Our medical workers are asking for a short time to recuperate. Let us give it to them,” she said. In a radio interview, Surigao del Norte 2nd district Rep. Robert Ace Barbers said the government should strike a balance between the economy and health of the Filipinos, but it should be tilted somehow, in favor of health amid the appeal made by physicians to shift Mega Manila back to a 15-day ECQ. He asked the DOH to come up with “a system, a policy, or even perhaps a strategy” to reinforce the country’s health system by augmenting the medical force.  In a separate statement, Assistant Minority Leader and ACT Teachers Representative France Castro said the Inter Agency Task Force for COVID-19 should be headed by medical experts instead of generals who have done nothing but to impose military solutions to combat a public health crisis.  “Our frontliners are already pleading to the Duterte administration to implement a comprehensive medical plan to address the COVID-19 pandemic in the country. The government needs to listen and take concrete actions with the demands of our healthcare workers,” she said.   “It is high time that medical experts lead in the fight against COVID-19 instead of military generals. Medical experts who will not twist data and try to sanitize the numbers. We need medical experts who use science and not allow an entire population to be used as guinea pigs in a failed response and inadequate policies for public health safety.”.....»»

Category: newsSource: NewsAug 2nd, 2020

Mayor Sara mulls lifting liquor ban, reopening night market

DAVAO CITY – Mayor Sara Duterte may lift the 24/7 liquor ban, and reopen the bustling Roxas Night Market starting September 1, months after the city government of Davao enforced strict measures to control the spread of the coronavirus disease (COVID-19). Mayor Sara Duterte (Facebook / MANILA BULLETIN) In her interview over Davao City Disaster Radio (DCDR 87.5) on Friday, Duterte said the local government was aiming to keep the COVID-19 cases here “low and manageable” in preparation for the gradual lifting of strict measures. She said she wanted Dabawenyos to adjust to the new normal, getting used to the basic health protocols amid the pandemic. She added that she might just decide to allow the selling of alcoholic drinks if the local government sees that there will be no spike in the number of COVID-19 cases. “We are still on the liquor ban. Let’s not celebrate too much because what we have lifted is just the FM (food and medicine) pass and curfew because we want you to self-regulate,” she said. The mayor imposed a ban on liquor on April 6, to minimize the possibility of transmitting coronavirus disease (COVID-19) during drinking sessions. As of the July 30, Department of Health-Davao Region has reported 1,273 cases, with 48 deaths and 727 recoveries. Of the total, 856 were in Davao City, 135 in Davao del Norte, 58 in Davao del Sur, 93 in Davao de Oro, 100 in Davao Oriental, and 31 in Davao Occidental. The mayor encouraged the people to instill self-discipline by adhering to basic health protocols, such as staying at home, wearing masks, observing physical distancing, and frequent hand washing to avoid contracting the highly infectious disease. She said once the number of cases goes up, the local government may decide to close the city again. “Otherwise if the cases will continue to go up, we will close again the city which is something that we do not want to happen. Nobody wants to go back to GCQ (general community quarantine), nobody wants to go back to MECQ (modified enhanced community quarantine), and nobody wants to go back to ECQ (enhanced community quarantine,” she said. The Roxas Night Market was closed on March 12, at the onset of the COVID-19 outbreak in the country, which displaced 498 food vendors and massage therapists. The night market was a popular destination for street food, ukay-ukay (used clothes), and street massage. On September 2, 2016, a bomb exploded at the night market that killed 15 people and injured 69 others......»»

Category: newsSource: NewsAug 1st, 2020

No growth for Philippines in Q3, says Moody’s unit

The Philippines is the only country in the Asia-Pacific region not expected to recover in the third quarter amid the long and strict lockdown to contain the outbreak of coronavirus disease 2019 or COVID-19 , Moody’s Analytics said......»»

Category: financeSource:  philstarRelated NewsJul 25th, 2020

DOH continues Sabayang Patak Kontra Polio campaign amid pandemic

CALOOCAN CITY, July 23 (PIA) -- The Department of Health (DOH) will resume the "Sabayang Patak Kontra Polio" campaign to address the polio outbreak despite the COVID-19 pandemic."Continuous.....»»

Category: newsSource:  manilanewsRelated NewsJul 23rd, 2020

Global stocks lower over rising infection numbers

European and US stocks finished mostly lower Thursday amid lingering worries over the coronavirus, although the Nasdaq powered to another record behind strength in technology shares. The World Health Organization amplified warnings about COVID-19 as millions of people in Australia’s second-biggest city, Melbourne, went into lockdown to battle another outbreak, while several US states reported […] The post Global stocks lower over rising infection numbers appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsJul 10th, 2020

Landbank extends P260 million loan to 3 private schools

State-run Land Bank of the Philippines has extended P260 million in loans to three private educational institutions, enabling them to support their students amid the coronavirus disease 2019 or COVID-19 pandemic, the Department of Finance said yesterday......»»

Category: financeSource:  philstarRelated NewsJul 6th, 2020

PNB undertakes portfolio review

Lucio Tan-led Philippine National Bank is undertaking a portfolio review to reduce its loan exposure to vulnerable sectors amid the coronavirus disease 2019 or COVID-19 pandemic......»»

Category: financeSource:  philstarRelated NewsJun 24th, 2020

Go to PSC: Continue promoting athletes& rsquo; welfare

Senator Christopher Lawrence “Bong” Go appealed to the Philippine Sports Commission to continue to promote and protect the welfare of athletes, especially the physical and mental condition of the national teams amid the coronavirus disease (COVID-19) outbreak in the country......»»

Category: sportsSource:  thestandardRelated NewsJun 10th, 2020