Economic team urges no more lockdowns
The Philippines cannot revert to stringent COVID-19 lockdown if it wants to save jobs and lift more people out of poverty post-pandemic, economic managers said, adding that the two weeks of stricter quarantine in Metro Manila and four neighboring provinces last month weighed on infrastructure spending and foreign trade.Finance Secretary Carlos Dominguez III on Monday said the economic team had repeatedly warned about the impact of lockdowns—which also resulted in millions of job losses —on poverty incidence.Acting Socioeconomic Planning Secretary Karl Kendrick Chua earlier flagged a temporary ...
Philippines Daily Inquirer
Brief lockdowns sink infrastructure outlays to 3-month low
Brief lockdowns sink infrastructure outlays to 3-month lowMANILA, Philippines — State infrastructure spending sustained a pandemic-induced contraction in August, settling at its lowest level in 3 months after brief lockdowns in Metro Manila and key economic areas hampered construction anew.Capital outlays plummeted 18.4% year-on-year in August to P61 billion, data from the Department of Budget and Management released on Monday showed.Compared to July, when infrastructure spending returned to the negative territory after a month of double-digit annual growth, capital outlays sagged 15%. The mon...
BSP says FDIs continued growth in July when COVID-19 lockdowns started easing
More long-term capital from overseas entered the Philippines in July marking the third consecutive month of increases for this key economic barometer.The total foreign direct investment (FDI) tally for 2020, however, remained below levels recorded in the same period in 2019, according to central bank data.In a statement, the Bangko Sentral ng Pilipinas (BSP) said FDI net inflows continued its upward gallop in July, registering an increase of 35.2 percent year-on-year to $797 million from $590 million in the same period in 2019.“The FDI net inflows rose for the third consecutive month on the ba...
Philippines Daily Inquirer
COMMENT | Make use of all tools available – not just lockdowns
COMMENT | Malaysia is currently faced with the third wave of Covid-19 cases and hence it is crucial that containment policies are informed by the latest scientific tools and innovations available.This is to ensure that their policies are the best practices at hand, not just blunt and damaging tools such as lockdowns, but complementary tools, which are friendly to both lives and livelihoods, such as large-scale and frequent population-level testing strategy.The recent upsurge of Covid-19 cases is much higher compared to the second wave in March. The magnitude of this third wave is so large that...
How Finance Teams Have Reacted-And Adapted-To COVID-19
Last spring, when the lockdowns first took place, almost everyone felt the pain of working from home with distributed teams. It was particularly difficult for finance professionals, who faced the predicament of closing the books remotely on top of unprecedented pressure and uncertainty around revenue and expenses.Q2 2020 hedge fund letters, conferences and moreSix months into this new mode of work, we wanted to know more about how finance teams are dealing with the effects of COVID-19 today. Is work-from-home still a challenge, or have other issues risen to the surface?The Impact Of Covid-19 O...
Spanish capital rejects lockdown as Europe faces virus surge
Madrid (AFP) - Madrid's top court on Thursday struck down virus restrictions on millions in the Spanish capital, as European governments battle to control a sustained surge in virus cases.While people across France and Belgium face closed bars and cafes, countries including Austria and Poland are toughening their rules on mask wearing and other measures.Records for the number of daily infections are tumbling across the continent, even Germany -- widely praised for its handling of the crisis -- which logged more than 4,000 new cases in a day for the first time since April."It's possible that th...
Philippines sees fewer deaths as lockdowns stop other illnesses, accidents
Philippines sees fewer deaths as lockdowns stop other illnesses, accidentsRamon Royandoyan(Philstar.com) – October 5, 2020 – 3:31pmMANILA, Philippines — Despite a rising death toll from coronavirus disease-2019 (COVID-19), limited people movements have resulted into a general decline in deaths this year, the Philippine Statistics Authority reported on Monday.From January to August this year, state statisticians registered 371,880 deaths, down 9% from same period last year. Broken down by month, it was only in July when a year-on-year increase in death toll was posted.The low number of deaths a...
Report: Covid lockdowns will leave 63% of Palestinian families unable to cover their expenses
The Palestinian Central Bureau of Statistics (PCBS) said the majority of Palestinian families – 63 per cent – will not be able to cover their expenses for up to a month, if the government re-imposes a new lockdown to combat the coronavirus.PCBS yesterday published the results of a survey it had conducted on a sample of 9,926 households in the occupied West Bank and Gaza Strip which assessed the pandemic’s impact on the social and economic conditions in Palestine.According to the results, 42 per cent of families (46 per cent in the West Bank and 38 per cent in the Gaza Strip) had their income r...
The Middle East Monitor
PopCom projection up by 214,000 more babies due to lockdowns
PopCom projection up by 214,000 more babies due to lockdownsSheila Crisostomo(The Philippine Star) – October 4, 2020 – 12:00amMANILA, Philippines — The 1.7 million newborn babies expected this year just went up by another 214,000 based on the latest projection of the Commission on Population (PopCom), which attributes the increase to the lockdowns caused by the pandemic.PopCom executive director Juan Antonio Perez III told The STAR the new projection of 214,000 more babies being born this year is due to the community quarantine implemented to arrest the spread of COVID-19.This means that by ye...
COVID-19 will stay with us until 2021, new IDF evaluation states
The IDF released on Friday an updated estimation regarding coronavirus and its lasting effects on Israeli society, according to N12.According to the IDF's new evaluation, coronavirus will be staying with us until the end of 2021, and a working vaccine will reach consumers' shelves only in July 2021.An unnamed official with of the report's details, told N12 that Israel's ability to overcome the pandemic is questionable. He explained that lockdowns and severing the chains of infections are solutions that have become irrelevant, as the numbers of new infections are too high and cabinet decisions ...
Jpost.com - The Jerusalem Post online edition