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US grants $213-M aid to Philippines economy amid pandemic

The Philippines secured over P10.5 billion financial assistance from the United States to help the local economy navigate through the coronavirus crisis and beyond the pandemic......»»

Category: financeSource: philstar philstarSep 28th, 2020

Big demand seen for disinfection tech solutions

Philippines GeoGreen Inc.’s new business arm GeoClean sees big potential for its disinfection technology solutions as the reopening of the economy drives demand for products to promote safety in commercial spaces amid the COVID-19 pandemic......»»

Category: newsSource:  philstarRelated NewsOct 25th, 2020

BDO optimistic of full Philippines recovery next year

BDO Unibank Inc. said the Philippine economy is set to recover with smaller gross domestic product contractions in the third and fourth quarters, paving the way for a full recovery next year amid the pandemic......»»

Category: financeSource:  philstarRelated NewsOct 11th, 2020

More banks launching QR payment facilities

More banks are launching payment facilities using quick response codes as the government ramps up efforts to transform the Philippines into a cash-lite instead of cash heavy economy amid the coronavirus pandemic, according to the Bangko Sentral ng Pilipinas......»»

Category: financeSource:  philstarRelated NewsSep 1st, 2020

Fitch Solutions downgrades 2020 growth forecast for PH to -9.1% from -2%

Fitch Solutions Country Risk and Industry Research, a unit of Fitch Group, sharply downgraded its 2020 growth outlook for the Philippines to -9.1 percent from the previous estimate of -2 percent, following the 16.5-percent contraction in the second quarter amid the COVID-19 pandemic that sent the economy crash-landing into technical recession......»»

Category: financeSource:  thestandardRelated NewsAug 10th, 2020

Philippines seeking investors under ‘new normal’

Philippine officials sent a message to foreign investors that the Philippine economy is in good position to rebound under the “new normal” amid the coronavirus disease 2019 pandemic......»»

Category: newsSource:  philstarRelated NewsJun 18th, 2020

LB assures beneficiaries of CCTP funds release

State-run LandBank of the Philippines, the fourth-largest lender in terms of assets, assured the beneficiaries of the conditional cash transfer program of the government of the continuous release of their cash grants amid the coronavirus 2019 pandemic......»»

Category: newsSource:  thestandardRelated NewsMar 24th, 2020

Sinulog 2021: Out-of-town, int’l groups may join event

CEBU CITY, Philippines — Out-of-town and international contingents have expressed their desire to join the Sinulog 2021 grand parade amid the coronavirus disease 2019 (COVID-19) pandemic. Cebu City Vice Mayor Michael Rama said that the contingents were willing to push through joining the Sinulog 2021 because the local government units or even their country would […] The post Sinulog 2021: Out-of-town, int’l groups may join event appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsOct 30th, 2020

Dollars flood into PH economy on gov’t’s foreign loans, drop in import spending

MANILA – Philippines – The dollar flow surplus of the Philippine economy — which has been building up every month since the start of the pandemic — surged significantly in September, as the inflow of foreign exchange from the government’s overseas borrowings added to the decline in the country’s import spending. According to the Bangko […] The post Dollars flood into PH economy on gov’t’s foreign loans, drop in import spending appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsOct 27th, 2020

Filipinos brace for party-less Christmas amid COVID-19 pandemic

Visitors wearing protective masks take a stroll inside the Enchanted Kingdom amusement park in Laguna Province, the Philippines, on Oct. 18, 2020. (Xinhua/Rouelle Umali)Filipinos.....»»

Category: newsSource:  philippinetimesRelated NewsOct 25th, 2020

Big banks have yet to tap capital, liquidity buffers

Big banks in the Philippines have yet to tap their capital and liquidity buffers to absorb losses and support financing requirements amid the COVID-19 pandemic, according to the Bangko Sentral ng Pilipinas......»»

Category: newsSource:  philstarRelated NewsOct 25th, 2020

Coke PH expands Balik Pinas program for repatriated OFWs

Coca-Cola Beverages Philippines, Inc. (CCBPI)—the bottling arm of Coca-Cola in the country—has expanded its Balik Pinas program to national scale to reach more repatriated overseas Filipino workers (OFWs) and help them start their own business at home. Gareth McGeown, CCBPI President and CEO. “Coca-Cola’s commitment to Filipinos has only grown stronger, in weathering this crisis together,” said Gareth McGeown, CCBPI President and CEO. “We will help and support where we can. Through Balik Pinas, our goal is to help repatriated OFWs who have lost their livelihood abroad to start anew, via owning and operating their own business and be successful here, at home, with their families.” With the help of the Department of Labor and Employment (DOLE), CCBPI aims to reach more OFWs who are interested to start their own business through Balik Pinas. Data from the Department of Foreign Affairs show that as of September 2020, over 190,000 overseas Filipino workers have been repatriated. Balik Pinas gives opportunities to OFWs to be part of the Coca-Cola family as a distributor, wholesaler, or a community reseller. Balik Pinas is a journey that the company and new entrepreneurs take together at every step—from setting up the business, to sustaining it, to ensuring growth. Coca-Cola assists former OFWs in choosing a suitable business model for their area, helps in managing their cash flow and inventory, and sees to it that they are given proper guidance and training until they are fully ready and equipped to operate on their own—all in all, a sustainable and profitable business founded on practical support from a global beverage brand. According to Carlos Rivera, CCBPI Territory Sales Team in Naga City, the Balik Pinas Program started as a small-scale initiative in Naga City to help former OFWs. Just a couple of months after returning home, Carlos Manzano and his family was able to set up their business as Coca-Cola distributor through the Balik Pinas Program, which Carlos said has reshaped his life and outlook forever. IN PHOTO: Carlos and their family’s multi-cab routing unit with the Coca-Cola Naga Sales team. When the program’s pilot rollout started, the Manzanos—brothers Carlos and Jazz, and their father Lito—were among the pioneer members. Carlos and Jazz had both been working for several years in Qatar until the COVID-19 pandemic shook the trajectory of their career and, consequently, the well-being of their families. Together with their father, Lito, who also used to be an overseas worker, they set up a beverage distribution business in their hometown Naga City. Their optimism, as with any new business venture, was tempered with anxiety over how it would all turn out—especially with the considerable challenge of launching during such tenuous times until Rivera offered them membership to the Balik Pinas Program of Coca-Cola. Now, the Manzanos are running a profitable business as Coca-Cola distributors. “Even when I had to leave Qatar suddenly because of the lay-offs, I always envisioned that I would head back to work there when things settle. But with Coca-Cola’s Balik Pinas, I have a livelihood that doesn’t take me away from my family as being an OFW had,” said Carlos.  Lito can still remember his first order of 60 cases of Coke products. Now, the Manzano  family business has grown to an average of 4,000 cases a month, just five months after they started—a feat magnified for it being in the middle of a pandemic and strict quarantine measures. The Manzanos have also since invested in routing units to augment their business’s capabilities—a multicab and a tricycle. Since starting his business in 2019, Billy Belleza (left), is now one of the prominent Coca-Cola distributors in his area and has added another mini truck to serve more routes and deliveries. Billy is one of the pioneers of Coca-Cola’s Balik Pinas program. Another Balik Pinas program pioneer member is Billy Belleza who decided to return to the country after working for 20 years in Brunei. “I am really thankful that Coca-Cola reached out to me to be a part of this. They have never failed to present opportunities for me and my business to grow since I decided to take part in the Balik Pinas Program. My sales actually soared this year,” said Belleza, who is also based in Naga City. According to Rivera, Balik Pinas Program was really designed for returning OFWs like Billy, Carlos, and Jazz and their families to set up and run a viable business at home. “With their success and in light of current events, this program was expanded to operate on a national scale, so the company can lend assistance to repatriated OFWs and their families as they weather through new challenges brought on by the pandemic,” Rivera said. Coca-Cola has consistently sought to create programs to support MSMEs, more so now with the COVID-19 pandemic having disrupted countless lives and livelihoods. With programs like Balik Pinas, Coca-Cola remains firm in their commitment to help local communities, contributing to the restart of the national economy—by way of reaching out to Filipinos.  To know more about the program, you may reach Coca-Cola’s contact center at (02)-8813-COKE (2653). For SMART/PLDT users: toll-free number: 1800-1888-COKE (2653); and for GLOBE users: toll-free number: 1800-8888-COKE (2653). You may also contact 0919-160-COKE (2653) via SMS......»»

Category: lifestyleSource:  abscbnRelated NewsOct 24th, 2020

Feature: Filipinos brace for party-less Christmas amid COVID-19 pandemic

MANILA, Oct. 24 (Xinhua) -- To 24-year-old college student Migs Refran, the decision to ban Christmas parties in the Philippines amid COVID-19 dampens the Christmas spirit. "It's a downer. I.....»»

Category: newsSource:  manilanewsRelated NewsOct 24th, 2020

Feature: Filipinos brace for party-less Christmas amid COVID-19 pandemic

MANILA, Oct. 24 (Xinhua) -- To 24-year-old college student Migs Refran, the decision to ban Christmas parties in the Philippines amid COVID-19 dampens the Christmas spirit. "It's a downer. I.....»»

Category: newsSource:  philippinetimesRelated NewsOct 24th, 2020

Stay home or go on vacation? Senators want clarity on gov’t policy

MANILA, Philippines — Senators have requested the executive branch to clarify its position on restrictions in terms of the public’s movement amid the pandemic. “May we be clarified about the position of the government if they are encouraging people to stay at home, or are they really inviting people to go on vacation and sight-seeing […] The post Stay home or go on vacation? Senators want clarity on gov’t policy appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsOct 23rd, 2020

World Vision Calls Out Business Leaders For CSR Summit

Child-focused humanitarian agency World Vision convenes business leaders in the Philippines for a two-day virtual Corporate Social Responsibility (CSR) Summit. Dubbed as “Doing Good is Good Business,” the summit focuses on the values of CSR amid the COVID-19 pandemic. The speakers from the different companies showed how they have chosen to help their internal and […].....»»

Category: newsSource:  metrocebuRelated NewsOct 22nd, 2020

Lower dairy imports seen

The Philippines is expected to reduce its imports of dairy products this year due to a slowdown in demand amid the coronavirus pandemic, according to the United States Department of Agriculture......»»

Category: financeSource:  philstarRelated NewsOct 22nd, 2020

Financial education, technology are crucial in the new normal& mdash;Home Credit and CIC

As a developing economy, it is no surprise that the Philippines still has a long way to go when it comes to financial literacy. Just before the government imposed the enhanced community quarantine (ECQ) amidst the COVID-19 pandemic, the Bangko Sentral ng Pilipinas (BSP) conducted its 2019 Financial Inclusion Survey (FIS), which revealed that Filipino adults could only answer 1 in 3 financial literacy questions correctly. Only a small number of respondents (8%) got all three questions correctly, while almost one-fourth (24%) obtained a zero score. .....»»

Category: techSource:  thestandardRelated NewsOct 21st, 2020

As oil prices dive, Iraqi Kurds seek to diversify economy

Iraq's Kurdish region has for decades lived off its oil wealth, but plummeting energy prices amid the pandemic and financial mismanagement are forcing locals to return to long abandoned farms......»»

Category: newsSource:  thestandardRelated NewsOct 21st, 2020

High COVID-19 Cases Could Pose Threat to PH Economy

Even though countries all over the world are starting to implement the “new normal” way or life, the coronavirus disease 2019 (COVID-19) pandemic is still a threat to every economy. In the Philippines, COVID-19 cases still continues to elevate, affecting the economy. This prompts the International Monetary Fund (IMF) urged every concerned sector to stem […].....»»

Category: sportsSource:  abscbnRelated NewsOct 21st, 2020

Governors seek status quo on implementation of travel requirements

Last week, the government’s inter-agency task force on coronavirus response allowed travel “for any purpose” between general community quarantine and modified GCQ areas to jumpstart the local economy amid the coronavirus pandemic......»»

Category: newsSource:  philstarRelated NewsOct 19th, 2020