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Peso Excels but Economy Remains in Bad Condition

Recent reports show that the Philippine peso is getting stronger but experts also said that it might also be a sign of bad economy. According to experts, a steep import decline that was supposed to be needed in the Philippines is the cause of the strong peso. The said imports may have been used to […].....»»

Category: sportsSource: abscbn abscbnSep 22nd, 2020

Trade remains negative in August as coronavirus shocks linger

Lackluster trade activity continued to hound the Philippines in August on the back of persistent pullback in both imports and exports, a symptom of an economy still struggling to recover from coronavirus shock......»»

Category: newsSource:  philstarRelated NewsOct 9th, 2020

‘Strong’ peso, weak economy

Reports describe the Philippine peso as the “best performing” currency in Asia this year so far, having appreciated against the US dollar by 4.3 percent since the year started, thereby “outperforming its regional peers.” I have a basic discomfort with statements like this, because the economist in me knows that a currency rising in value […] The post ‘Strong’ peso, weak economy appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsSep 22nd, 2020

Duterte keeps 1-meter distancing rule

The one-meter physical distancing rule in public transportation remains, Malacañang said yesterday, ending the debate over the extent of easing quarantine restrictions as the government gradually reopens the economy......»»

Category: newsSource:  philstarRelated NewsSep 19th, 2020

Economy remains robust despite Q2 drop & mdash; Diokno

Bangko Sentral ng Pilipinas Governor Benjamin Diokno on Monday assured the economy remains robust despite the record second-quarter contraction of 16.5 percent. .....»»

Category: sportsSource:  abscbnRelated NewsAug 10th, 2020

Perseids meteor shower dazzles PH sky this month

Filipinos will once again be awed by one of the year’s most dazzling meteor showers this month. If weather permits, the Perseids meteor shower will be visible throughout most of the month and becomes extra visible during its peak from Aug. 12 to Aug. 13, according to the Philippine Atmospheric, Geophysical, and Astronomical Services Administration (PAGASA). It said at least 50 meteors per hour will be observed during its peak time. Unfortunately, the waxing gibbous moon may interfere the observations of fainter meteors, PAGASA said. Perseids meteor shower radiate out from the constellation Perseus, which is located in the eastern horizon. The meteor shower arises out of the debris of comet Swift-Tuttle, which last made a pass by Earth in 1992. PAGASA said meteors are easiest to observe if there is no moonlight and light pollution and clear sky condition exists. August remains as one of the most popular time of the year to observe meteor showers due to high hourly rate and bright meteors, PAGASA added......»»

Category: newsSource:  mb.com.phRelated NewsAug 2nd, 2020

Cleanfuel Strengthens Retail Network in Southern Manila

Now serving with the newest technologies implemented to create high-tech fuel for your vehicles, Cleanfuel, believes in the resiliency of the Filipino people that would bring and sustain solid economic recovery amid health crisis. Their recently opened retail station at Doña Soledad in Parañaque City shows a testament that the company remains upbeat in expanding their network footprints in Southern portion of Metro Manila.   “While 2020 is a challenging year, Cleanfuel has remained optimistic riding in the resiliency of Filipinos towards economic recovery. This is the reason why Cleanfuel Group of Companies continues to invest and opened more stations as a testament and commitment to its people to provide top-notch fuel to every motorist,” said Atty Bong Suntay, President of Cleanfuel. “The opening of the new station in Doña Soledad is in line with Cleanfuel’s goal to expand its reach and strengthen its customer base in the Southern part of Metro Manila,” Suntay said. Situated at the busy thoroughfare of Doña Soledad Avenue Extension at Barangay Don Bosco in Parañaque City, the new station offers a top-notch fuel and lubricants including Clean91 (Unleaded), Premium 95 gasoline, and Euro-4 diesel. It provides access to both public and private motorists from Better Living going to Moonwalk, connecting in the bustling intersection of eastern Parañaque.  In addition, the second district of Don Bosco is the primary residential Barangay of Ninoy Aquino International Airport and one of the 16 Barangays in Parañaque City. Key factors of the city’s progress include banks, shopping malls, restaurants, residential properties, and commercial manufacturing. Motorists heading towards the busy streets of Doña Soledad Avenue Extension from east-west and northern side of Parañaque can gas up to experience Cleanfuel’s brand mantra: Quality fuel for Less! Further, Cleanfuel Doña Soledad station will become a key driver of growth to more than 60,000 population of Barangay Don Bosco. As the city relies on shopping centers as part of major contributors, the company sees that the opening of Cleanfuel Doña Soledad will further strengthen and boost economic confidence. “We’re grateful and honor to inaugurate Cleanfuel Doña Soledad as our first station to open in these unprecedented times. The economy in the City of Parañaque has been growing consistently with massive projects in property and commercial manufacturing,” the company’s chief executive said.  Suntay adds that in the next coming months Cleanfuel is adding more stations not only in NCR but also in provinces to provide quality fuel for business and opportunities for others. “We intend to leverage our business aggressively and expand our retail network across the country, focusing on Mega Manila and Northern Luzon,” concludes Suntay.  Cleanfuel is expected to open more stations in coming weeks in Ortigas Avenue Extension in Pasig and mega branch in Mabalacat Pampanga as part of the long-term business expansion plan. Aside from expansion, the company has extended its support by providing fuel subsidy for the Department of Transportation’s (DOTr’s) Free Bus Ride for Health Workers Program and drive relief donations to northern provinces, which include Pangasinan (Villasis, Binalonan, Pozorrubio) and San Fernando (La Union) and other cities in Metro Manila......»»

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

DOF chief: Economy on way to recovery

The Philippine economy is beginning to recover, with prices of goods “relatively low” and the peso emerging as Asia’s strongest, Finance Secretary Carlos Dominguez III said yesterday......»»

Category: newsSource:  philstarRelated NewsJul 31st, 2020

China remains Philippines top export market, import supplier

MANILA, July 23 (Xinhua) -- China remains the Philippines' top export market with almost 27 percent of the Philippines' total exports being shipped to the world's second largest economy, the Philip.....»»

Category: newsSource:  manilanewsRelated NewsJul 23rd, 2020

Inflation still manageable — DOF

Despite a slight uptick in June, the country’s inflation environment remains manageable, providing enough headroom for economic managers to implement policies which shield the economy from the impact of the global health crisis, according to the Department of Finance......»»

Category: financeSource:  philstarRelated NewsJul 14th, 2020

PetroGazz not slowing down amid pandemic

PetroGazz head coach Arnold Laniog remains confident with the competitiveness of the Angels despite losing a couple of key players this year and the long layoff brought by the health crisis. Veteran hitter Paneng Mercado-de Koenigswater took a leave of absence due to pregnancy while PetroGazz parted ways with its starting setter Djanel Cheng following a successful campaign in the Premier Volleyball League Season 3 last year. The Angels filled the missing pieces in their lineup by signing prized hitters Gretchel Soltones and Jerrili Malabanan while tapping Ivy Perez to replace Cheng. Laniog, who steered PetroGazz to a breakthrough PVL Reinforced Conference title exactly a year ago, told ABS-CBN Sports that the new recruits were already building chemistry with the holdovers before their preparation for the season was halted due to the coronavirus (COVID-19) pandemic.     “Bago mag-pandemic, nabi-build naman namin ‘yung relationship nu’ng tatlong bago sa old players,” said Laniog. “’Yun naman ang gusto namin na ma-develop ‘yung relationship ng new players, para pagdating sa game o kahit sa ensayo walang ilangan ba. Para malabas natin sa kanila ang potential nila para sa team.” Soltones, a former three-time NCAA Most Valuable Player, and Malabanan transferred to PetroGazz after their contracts with PLDT in the Philippine Superliga expired. The duo will make their return to the PVL since helping BaliPure win the 2017 Open Conference title and then PayMaya to a runner-up finish in the 2018 Reinforced Conference. The addition of the two hitters according to Laniog will give more depth to PetroGazz’s local roster especially with the PVL looking to hold the Open Conference this year once the government gives the green light for volleyball activities to resume.      “Very big addition talaga sila. Nakita namin ang potential ng dalawa, malaking bagay para sa rotation ng team. Naging mas malalim ngayon kahit sa all-Filipino,” Laniog said. The mentor also pointed out that his holdovers are ready to fill in the shoes left by Mercado-de Koenigswater at the wing spot.   “Kasi ang mga players naman namin tini-train namin as universal,” said Laniog. “So ‘yung opposite pwedeng maging open. Nandyan naman si Cai Baloaloa, si Jonah Sabete na pwedeng maglaro sa opposite side and also Malabanan.” Despite the ban on team training under the community quarantine, PetroGazz keeps a strict tab on its players. Making sure that they remain in tip-top shape through home workout activities and virtual team building sessions.     “Di pa rin namin tinatanggal ang condition ng katawan na nandoon pa rin sa fit level,” said Laniog. “Para anytime na i-allow na ng government na bumalik sa training ay ready sila.”   --- Follow this writer on Twitter, @fromtheriles.....»»

Category: sportsSource:  abscbnRelated NewsJul 14th, 2020

German exports rise in May as lockdowns ease

German exports rose sharply in May as coronavirus containment measures eased, official data showed Thursday, adding to signs of a recovery in Europe’s top economy even if trade remains well below pre-pandemic levels. Exports climbed nine percent to 80.3 billion euros ($91 billion) compared with April, when they suffered their biggest plunge since records began, […] The post German exports rise in May as lockdowns ease appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsJul 9th, 2020

Agriculture contributing less to GDP for past 5 years

The agriculture sector’s contribution to the national economy has declined for five consecutive years as low productivity remains a challenge for the farm industry......»»

Category: financeSource:  philstarRelated NewsJul 1st, 2020

Diokno says & lsquo;A& rsquo; investment grade remains a target

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said the goal of attaining an “A” investment rating by 2022 will remain on the table if the economy rebounds strongly next year in the aftermath of the coronavirus disease 2019......»»

Category: sportsSource:  abscbnRelated NewsJun 5th, 2020

PSEi surge prompts peso to flirt with P49:$1

Investors are cheering a local economy emerging from one of the toughest lockdowns......»»

Category: newsSource:  philstarRelated NewsJun 4th, 2020

German consumer confidence improves slightly after virus shock

German consumer confidence recovered some of the ground lost due the coronavirus shock but it remains deep in negative territory as Europe's top economy faces a slow recovery, a survey showed Tuesday......»»

Category: financeSource:  thestandardRelated NewsMay 26th, 2020

Health, ICT, agri reforms needed

The Bangko Sentral ng Pilipinas (BSP) remains committed to support the economy during the coronavirus disease 2019 (Covid-19) pandemic, but policymakers must also be watchful and implement structural reforms moving forward, its chief said on Friday. At a virtual roundtable discussion with the National Resilience Council and hosted by the Makati Busienss Club on Friday, […].....»»

Category: newsSource:  manilatimes_netRelated NewsMay 23rd, 2020

US women s team players have options after setback in court

By ANNE M. PETERSON AP Sports Writer Players for the U.S. women’s national team may have been dealt a blow by a judge’s ruling in their gender discrimination lawsuit against the U.S. Soccer Federation but the case is far from over. The women have vowed to keep up the fight, encouraged by the likes of Joe Biden, Billie Jean King and even the men's national team. “This is just a setback,” King said when asked what she would tell the team. “There’s so many of these ups and downs. Just keep learning from it, keep going for it. You’re still such a great influence, not only in soccer, but for equality for everyone.” King, who was calling for equitable prize money in tennis in the 1970s, once famously proclaimed: “Everyone thinks women should be thrilled when we get crumbs, and I want women to have the cake, the icing and the cherry on top, too.” The players sued the federation last year, claiming they have not been paid equally under their collective bargaining agreement to what the men’s national team receives under its labor deal. They asked for more than $66 million in damages under the Equal Pay Act and Title VII of the Civil Rights Act of 1964. The federal judge threw out the players' claim of discriminatory pay Friday in a surprising loss for the defending World Cup champions. U.S. District Judge R. Gary Klausner said the women rejected a pay-to-play structure like the men's agreement and accepted greater base salaries and benefits. But he allowed aspects of their allegations of discriminatory working conditions to go forward. The trial remains scheduled for June 16 in federal court in Los Angeles. Players have vowed to appeal the judge's decision. There are several legal options. Players could seek to overturn Friday's decision at the 9th U.S. Circuit Court of Appeals, and could even discuss with the USSF the possibility of a joint application for a stay pending appeal. They could proceed with a trial limited to working conditions such as flights, hotels and medical staff, then appeal Friday's ruling. Or the sides could seek to settle, perhaps as part of a deal to replace and extend the current collective bargaining agreement, which expires on Dec. 31, 2021. Biden, the presumptive Democratic presidential nominee, went to Twitter this weekend to encourage the players. “To @USWNT: don’t give up this fight. This is not over yet. To @ussoccer: equal pay, now. Or else when I’m president, you can go elsewhere for World Cup funding,” he posted, referring to the 2026 men’s World Cup, set to be hosted by the United States, Mexico and Canada. The players’ association for the men’s national team also released a statement Monday expressing support. “For a year and a half the USMNT players have made proposals to the federation that would achieve equal pay for the USMNT and USWNT players,” the statement said. “We understand the WNT players plan to appeal last week’s decision and we support them.” Steven A. Bank, a professor at UCLA, said he was expecting Klausner's decision on the summary judgment to focus the case but not to the degree it did. “Frequently, judges will do that in order to narrow down the issues, but because it also spurs the parties to settle by essentially using a heavy hand and saying, ‘Hey, a lot of these things you have is fluff, so let’s get rid of this, and neither of you have as great a case that you think you do.' So I’m not surprised that there was some level of summary judgment granted and some level denied,” he said. “But I was surprised that the judge came down with what is a fairly complete victory for U.S. Soccer.” In an appearance on ABC's “Good Morning America” on Monday, Megan Rapinoe said she was shocked by the decision. She pointed out the women’s team was far more successful than the men, winning consecutive World Cup titles and playing more games. “If I earn $1 every time I play, and a man earns $3, just because I win 10 games and he only wins three games, so I made $10 and he made $9, I’m not sure how that’s me making more money, while having to essentially win everything we could’ve possibly won over these last two years: two World Cups and just about every game we’ve played,” Rapinoe said. “For me, it missed the point, and was very disappointing, to be honest.” Attorney Hampton Dellinger, who represented players in a battle over artificial turf at the 2015 World Cup in Canada, said the case will take time to play out. “Obviously, I think it’d be great if the parties could reach a reasonable settlement,” Dellinger said. “But to my mind, if the legal fight is going to continue, I don’t think the judge’s first word is necessarily going to be the last word.” Arguments could be made that the team has already made it's case in the court of public opinion. Following the U.S. victory in the World Cup final last year in France, the crowd chanted "Equal Pay" as the players celebrated on the field. The women also drew support from some of U.S. Soccer's most high-profile sponsors when the federation argued in court documents that the women lacked the skills and responsibilities of their male counterparts. The so-called scorched earth argument led to the resignation of USSF President Carlos Cordeiro, who was replaced by former national team player Cindy Parlow Cone. “I think it’s great that they brought the case forward, because I think any visibility into this issue is just going to help further the cause, because it’s going to make more people sensitive and aware that the issue of unequal pay persists in all spectrums of our economy," said Mary Ellen Carter, an associate professor of accounting at Boston College. "I happen to know it well in the executive space, but it’s not only there. So I think the courage that they had to come forward with the suit keeps the issue at the forefront, and I think that that’s important.".....»»

Category: sportsSource:  abscbnRelated NewsMay 5th, 2020

Peso stable despite rising global risks, COVID-19

The peso remained firm and nearly steady from its 2019 year-end level despite the rising risks in the global economy heightened by the spread of the coronavirus disease 2019 and the collapse of global stock markets......»»

Category: financeSource:  thestandardRelated NewsApr 20th, 2020

EDITORIAL - Two more weeks

Into the fourth week of the enhanced community quarantine, the economy is in critical condition......»»

Category: newsSource:  philstarRelated NewsApr 7th, 2020

Economic heavyweight Boeing hammered by dual crises

NEW YORK, USA – Boeing lost $52 billion on the stock market in a week, a rout that underscores the challenges facing the aircraft manufacturer amid setbacks over the 737 MAX and the coronavirus pandemic . But Boeing remains a business behemoth key to the American economy. .....»»

Category: newsSource:  rapplerRelated NewsMar 15th, 2020