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Subsidies to state firms only half of H1 target

The government missed by more than half its subsidy program in the first semester due to the delayed filing of special budget requests ,but expects funding for state-owned firms, particularly for health agencies, to go up in the second semester......»»

Category: newsSource: philstar philstarAug 1st, 2021

PhilHealth support boosts subsidies to GOCCs in May

Funding support for state-owned firms jumped by around 50 percent in May, as the government quadrupled its subsidies to the Philippine Health Insurance Corp. to P36.5 billion......»»

Category: financeSource:  philstarRelated NewsJun 27th, 2021

NEA extends P225 million loans to power cooperatives

State-run National Electrification Administration has released nearly half of its target loan releases to electric cooperatives in the first four months of the year......»»

Category: financeSource:  philstarRelated NewsMay 22nd, 2021

GOCCs subsidies hit P200 billion in 9 months

The national government has extended nearly P200 billion in subsidies to state-run firms from January to September to support their operations and coronavirus response efforts, according to the Bureau of the Treasury......»»

Category: financeSource:  philstarRelated NewsNov 1st, 2020

WHO warns of drawn out pandemic as South Africa cases top 500,000

The UN health agency warned that the coronavirus pandemic would be lengthy and could lead to “response fatigue”, as the case count in South Africa topped half a million. Although many Latin American countries have begun relaxing stay-at-home measures, the virus is still spreading quickly across much of the region Six months after the World Health Organization declared a global emergency, the novel coronavirus has killed more than 680,000 people and infected more than 17.5 million, according to an AFP tally. South Africa is by far the hardest hit country in Africa, accounting for more than half of diagnosed infections, although President Cyril Ramaphosa said the fatality rate is lower than the global average. Health authorities had been expecting a surge in cases after the gradual loosening of a strict lockdown that was imposed at the end of March. Nigeria on Saturday also announced it would ease a lockdown in the commercial capital Lagos, allowing churches and mosques to reopen next week.  An emergency WHO committee reviewing the pandemic “highlighted the anticipated lengthy duration of this COVID-19 outbreak, noting the importance of sustained community, national, regional, and global response efforts”. “WHO continues to assess the global risk level of COVID-19 to be very high,” it said in its latest statement. The agency also said the effects of the pandemic “will be felt for decades to come”. Mexico overtook Britain to become the third hardest hit country in virus deaths — after Brazil and the United States — with more than 46,600 fatal cases. Although many Latin American countries have begun relaxing stay-at-home measures, the virus is still spreading quickly across much of the region, which has now recorded more than four million cases and almost 200,000 deaths. Half of them are in Brazil, where President Jair Bolsonaro said he believes “nearly everyone” will catch the virus eventually, after himself recovering from it. The US, the hardest-hit country in the world, has now tallied more than 4.6 million cases and 154,319 deaths. Vaccine race The outlook was bleak in Asia as well, where India and the Philippines reported record increases in new daily infections. “We are waging a losing battle against COVID-19, and we need to draw up a consolidated, definitive plan of action,” said an open letter signed by 80 Filipino medical associations. Japan’s Okinawa declared a state of emergency after a record jump in cases on the islands — many linked to US military forces stationed there. The pandemic has spurred a race for a vaccine with several Chinese companies at the forefront, while Russia has set a target date of September to roll out its own medicine. However, US infectious disease expert Anthony Fauci said it was unlikely his country would use any vaccine developed in either nation. “I do hope that the Chinese and the Russians are actually testing the vaccine before they are administering the vaccine to anyone,” he said. As part of its “Operation Warp Speed”, the US government will pay pharmaceutical giants Sanofi and GSK up to $2.1 billion for the development of a COVID-19 vaccine, the companies said. ‘Day of freedom’ France, Spain, Portugal and Italy all reported huge contractions in their economies for the April-June quarter, while Europe as a whole saw gross domestic product fall by 12.1 percent.  Daily case numbers in Switzerland have crept up again in recent weeks, while Norway recorded its first virus death in two weeks. At least 36 crew members confined to a Norwegian cruise ship have tested positive for the new coronavirus, the operator Hurtigruten said on Saturday.  Despite the resurgence in cases, there have been demonstrations in Europe against the curbs.  Thousands protested in Berlin on Saturday urging “a day of freedom” from the restrictions, with some demonstrators dubbing the pandemic “the biggest conspiracy theory”. In South Korea, the elderly leader of a secretive sect at the centre of the country’s early coronavirus outbreak was arrested for allegedly hindering the government’s effort to contain the epidemic. People linked to Lee Man-hee’s Shincheonji Church of Jesus accounted for more than half of the South’s coronavirus cases in February and March, but the country has since appeared to have brought the virus under control. The pandemic has also continued to cause mayhem in the travel and tourism sectors, with more airlines announcing mass job cuts. Latin America’s biggest airline, the Brazilian-Chilean group LATAM, said it would lay off least 2,700 crew, and British Airways pilots overwhelmingly voted to accept a deal cutting wages by 20 percent, with 270 jobs lost......»»

Category: sportsSource:  abscbnRelated NewsAug 2nd, 2020

ARTA wants to institutionalize digital payments in state firms

The Anti-Red Tape Authority wants government agencies to make use of a digital payments system to provide ease in transactions......»»

Category: financeSource:  philstarRelated NewsAug 20th, 2021

3.7M seniors fully vaxxed but still short of target

Almost half of the elderly  population in the country have been fully vaccinated against COVID-19, four months after vaccination of this priority group began, the Department of Health said Thursday......»»

Category: newsSource:  thestandardRelated NewsAug 20th, 2021

State-guaranteed agri loans hit P3.5-B in H1

The government has provided guarantees to a total of P3.5 billion loans in the agriculture sector in the first half, benefitting thousands of farmers and fisherfolk amid the coronavirus pandemic......»»

Category: financeSource:  philstarRelated NewsAug 19th, 2021

REIT firms report earnings growth

Real estate investment trust companies Filinvest REIT Corp. and DoubleDragon’s DDMP REIT Inc. reported strong earnings growth in the first half and second quarter, respectively......»»

Category: financeSource:  philstarRelated NewsAug 17th, 2021

GOCCs remit P52 billion dividends to state coffers

State-owned firms have so far remitted about P52 billion in dividends to the national coffers which can be utilized to fund the government’s social amelioration program......»»

Category: financeSource:  philstarRelated NewsAug 15th, 2021

NEA may attain electrification goal by June 2022

State-run National Electrification Administration may meet the 100 percent household electrification target of the Duterte administration by June next year if based on the 2015 census as electric cooperatives have already given electricity access to 99 percent of the total potential household......»»

Category: financeSource:  philstarRelated NewsJul 30th, 2021

Budget deficit swells 28% in H1

The budget deficit ballooned by 28 percent to P716.1 billion in the first semester and is expected to widen further as government ramps up its spending for subsidizing state firms and preparing for the 2022 elections......»»

Category: financeSource:  philstarRelated NewsJul 27th, 2021

CEZA flagged over P148 million uncollected obligations

The Commission on Audit has urged the state-owned Cagayan Economic Zone Authority to collect P148 million in overdue financial obligations from gaming and business firms operating at the Cagayan Freeport......»»

Category: newsSource:  philstarRelated NewsJul 26th, 2021

Palay production target on track

Agriculture Secretary William Dar remains hopeful it will achieve record production of palay or unhusked rice this year as output grew by nearly six percent in the first half......»»

Category: financeSource:  philstarRelated NewsJul 26th, 2021

SSS education loans increase 52% in H1

State-run Social Security System increased its release of education loans by more than half to about P116 million in the first semester......»»

Category: financeSource:  philstarRelated NewsJul 25th, 2021

PDVSA creditors target Portuguese bank account for debt collection | America

Creditors of the Venezuelan state oil company PDVSA are targeting funds held in the company’s accounts in Portugal’s Novo Banco in an attempt to collect.....»»

Category: newsSource:  thedailyguardianRelated NewsJul 24th, 2021

DA aims for sustained palay production

The Department of Agriculture is hoping it can sustain production of palay in the second half in a bid to achieve its target of 20.4 million metric tons this year......»»

Category: financeSource:  philstarRelated NewsJul 13th, 2021

Port of Davao collects 18.6 B pesos in revenues first half of 2021, surpasses target by 1.1 B

DAVAO CITY (MindaNews / 03 July) — The Port of Davao posted PhP 18.6 billion in revenues collected from January to June 2021, surpassing by PhP 1.1 billion its collection target of PhP 17.5 billion for the first half of the year. Atty. Erastus Sandino B. Austria, district collector of BOC-Davao, attributed the increase in […].....»»

Category: newsSource:  inquirerRelated NewsJul 4th, 2021

In 5 months, LANDBANK hits over 80% of farm loans target

State-run Land Bank of the Philippines is already close to hitting this year’s target for lending to the farm sector as of May, the Department of Finance reported Friday......»»

Category: financeSource:  philstarRelated NewsJul 2nd, 2021

Government sets $500 million bond offer to augment budget

The government is set to offer at least $500 million in dollar-denominated bonds or about half of its total target to raise funds to support the remaining budget requirements for the year......»»

Category: financeSource:  philstarRelated NewsJun 28th, 2021

Mandaue City master lists more COVID-19 vaccine applicants

MANDAUE CITY, Philippines  — The Mandaue City Government has already master listed 154,000 individuals for vaccination, more than half of the city’s target vaccinees of 295,000 to achieve herd immunity. Lawyer Lizer Malate, head of the Mandaue City Vaccination Operations Center, said that after implementing the full-blown vaccination registration in the city’s 27 barangays this […] The post Mandaue City master lists more COVID-19 vaccine applicants appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsJun 25th, 2021