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PSC vows no job layoffs despite financial woes amid pandemic

While unemployment has risen to an alarming rate amid the coronavirus (COVID-19) pandemic, the Philippine Sports Commission assured its employees that there will no layoffs in the agency. Appearing on Tuesday’s online session of the Philippine Sportswriters Association (PSA) Forum, chairman William ‘Butch’ Ramirez said that despite a meager budget with nothing more to spare, the PSC will continue to carry out its day-to-day operations. Even under these very difficult times, the PSC puts priority on the welfare of its workers Ramirez stressed.   “Even before COVID, we have communicated with Malacanang that we will let go of some contractual employees,” said Ramirez, adding that it would have taken effect on Aug. 31. But the global pandemic made the PSC change its mind. “We in the PSC board made a collective decision that it will not happen. We will not remove anyone from the PSC unless there is cause. We are in very difficult times,” said Ramirez. The PSC has 250 regular employees and more than 250 contractuals. “Sa kahirapan ngayon, ano ang kakainin nila?” said Ramirez, currently staying with his wife at the athletes’ quarters at the PhilSports Complex (formerly ULTRA) in Pasig City. The agency months ago implemented belt-tightening measures, including a 50 percent ‘equity reduction’ on the allowances of the national athletes and coaches. But despite the financial difficulties, athletes and coaches continue to receive their allowances, and can expect to get their regular stipends once the situation improves or when the Philippine Amusement and Gaming Corporation (PAGCOR) resumes its monthly remittances of close to P100 million to the PSC. Ramirez also added government sports agency is thinking beyond sports, and talked about “fortitude and sacrifice" during the Forum presented by San Miguel Corp., Go For Gold, Milo, PAGCOR, Amelie Hotel Manila, Braska Restaurant, and powered by Smart, with Upstream Media as official webcast partner. At the height of the lockdown, the national government channeled P1 billion of PSC money for COVID-19 purposes. The PSC has also allowed the use of its facilities like the Rizal Coliseum and Ninoy Aquino Stadium in the fight against the deadly virus. The PSC has also donated 350 beds and close to 500 laptops that were used during last year’s Southeast East Asian Games to various government offices during the pandemic. “The PSC is not only focused on sports now. We are adapting to the new environment,” said Ramirez......»»

Category: sportsSource: abscbn abscbnAug 18th, 2020

ADB approves $400 million loan for youth employment

The Philippines has secured a $400-million (P20.1-billion) funding from the Asian Development Bank to boost job opportunities for young Filipinos amid the pandemic......»»

Category: financeSource:  philstarRelated NewsJul 27th, 2021

Duterte vows quality education amid pandemic, but no other plans in last SONA

"Despite our inability to conduct face-to-face classes during this pandemic," Duterte said, "we remain determined to deliver quality and accessible education to all.".....»»

Category: newsSource:  philstarRelated NewsJul 26th, 2021

No takers yet for BSP’s rediscount loan facility

Five months into the year, banks have yet to tap the peso rediscounting loan facility of the Bangko Sentral ng Pilipinas amid the massive liquidity unleashed in the financial system to counter the impact of the COVID-19 pandemic......»»

Category: financeSource:  philstarRelated NewsJun 10th, 2021

E-money transactions jump 61% to P2.39 trillion in 2020

Electronic money transactions processed by banks and financial technology providers jumped by almost 61 percent to P2.39 trillion in 2020 from P1.49 trillion in 2019 as the shift to digital payments from the traditional mode of cash transactions accelerated amid the pandemic......»»

Category: financeSource:  philstarRelated NewsJun 8th, 2021

Inflation steadies anew in May but supply woes persist

Inflation remained steady for the third straight month in May, a welcome reprieve to consumers amid a pandemic-induced economic slump......»»

Category: financeSource:  philstarRelated NewsJun 4th, 2021

BSP monitoring vulnerable banks

The financial performance of the hardest-hit sectors and highly vulnerable banks needs closer monitoring as the non-performing loan ratio of Philippine banks may climb further to exceed six percent this year amid the COVID-19 pandemic, according to the Bangko Sentral ng Pilipinas......»»

Category: financeSource:  philstarRelated NewsMay 24th, 2021

EDC financial health remains strong

Lopez-led Energy Development Corp. said its regenerative strategy has allowed it to create value and invest in future projects amid the COVID-19 pandemic......»»

Category: financeSource:  philstarRelated NewsMay 16th, 2021

Listed firms postpone debt payments

A large number of listed companies have maximized the leeway provided by the government in managing loans and financial obligations amid the lingering onslaught of the COVID-19 pandemic......»»

Category: financeSource:  philstarRelated NewsMay 10th, 2021

Sun Life shines light on what really matters for millennials amid pandemic

Many millennials have been doing a lot of thinking during the pandemic, especially in their financial priorities. Here, we talk about changing trends and behaviors among millennials in these unusual times......»»

Category: newsSource:  philstarRelated NewsMay 6th, 2021

Urban poor groups bike for mass testing, financial aid amid pandemic

They called for financial aid, mass testing, vaccination and to stop attacks on urban poor. The post Urban poor groups bike for mass testing, financial aid amid pandemic appeared first on Bulatlat......»»

Category: newsSource:  bulatlatRelated NewsApr 26th, 2021

Poll exposes learning woes & mdash;Gatchalian

A new poll on distance learning woes has exposed the digital divide that hounds parents and learners nationwide amid the COVID-19 pandemic., Senator Win  Gatchalian  said on Sunday......»»

Category: newsSource:  thestandardRelated NewsApr 25th, 2021

New Sun Life plans for entrepreneurs

In a bid to help entrepreneurs amid the ongoing pandemic, Sun Life of Canada Inc. is launching new financial solution bundles that will allow them to sustain their businesses and fulfill their personal goals......»»

Category: financeSource:  philstarRelated NewsMar 24th, 2021

First Circle opens revolving credit to help 10,000 MSMEs

First Circle, a Philippines-based financial technology platform, celebrates five years of supporting the country’s micro, small and medium enterprises sector with the launch of a groundbreaking revolving credit line to support at least 10,000 MSMEs nationwide amid the COVID-19 pandemic......»»

Category: financeSource:  thestandardRelated NewsMar 21st, 2021

Sy-controlled banks post mixed financial results in turbulent 2020

The Sy family's two listed banks capped a turbulent 2020 that tested the local banking industry's resilience amid a pandemic-induced recession with mixed financial results......»»

Category: financeSource:  philstarRelated NewsFeb 26th, 2021

PayMaya’s workplace programs cited by LinkedIn, Anvil Awards

Digital financial services leader PayMaya has been cited by global technology firm LinkedIn and the local Anvil Awards for its trailblazing efforts in creating the workplace of the future today amid the challenges brought by the COVID-19 pandemic......»»

Category: financeSource:  philstarRelated NewsFeb 25th, 2021

3,000 OFWs in Hong Kong push for refund of ‘unnecessary’ training fees

“Refunding the training fees in full is a financial relief to the eager claimants amid the impacts of the pandemic to their work and to the families they have left behind in the Philippines. This will also give them a sense of justice.” The post 3,000 OFWs in Hong Kong push for refund of ‘unnecessary’ training fees appeared first on Bulatlat......»»

Category: newsSource:  bulatlatRelated NewsFeb 12th, 2021

Media workers facing mental health woes urged to seek medical help

COVID-19 has exempted no one from its harsh impact on the mental health of every person including journalists who continue to provide information amid this pandemic that hurt the economy and the escalating attacks on the press worldwide......»»

Category: newsSource:  davaotodayRelated NewsFeb 3rd, 2021

CBCP asks faithful for financial help amid COVID-19

The Catholic Bishops’ Conference of the Philippines asked the faithful for continued financial support to the Catholic Church, as dioceses and parishes nationwide experience financial difficulties due to the COVID-19 pandemic......»»

Category: newsSource:  philstarRelated NewsJan 30th, 2021

Fund managers withdrew $4.2 billion in investments from PH in 2020

Fund managers pulled out $4.2 billion from the Philippine financial markets last year amid the prolonged impact of the COVID-19 pandemic, data from the Bangko Sentral ng Pilipinas showed over the weekend......»»

Category: financeSource:  thestandardRelated NewsJan 29th, 2021

PPA extends financial aid to shipping companies amid ongoing pandemic

The Philippine Ports Authority (PPA) is extending financial support to domestic shipowners, badly hit by the coronavirus disease (COVID-19) pandemic. PPA General Manager Jay Daniel Santiago said that the aid will start on 28 January through subsidies for domestic dockage and lay-up fees of Philippine shipping owners. On 1 December 2020, the PPA also provided […] The post PPA extends financial aid to shipping companies amid ongoing pandemic appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsJan 28th, 2021