The US has a trade surplus with Hong Kong, which is also America's third-largest market for wines, said Paul Chan, inset. Since then, the United States also said it plans to cancel preferential tariff treatment for Hong Kong and restrict exports of high-technology products. "Even though the United States claims it can impose restrictions on Hong Kong, they have huge economic and other interests in Hong Kong," he said. "Any restrictions will also damage the interests of American companies in Hong Kong." Meanwhile, Chief Secretary for Administration Matthew Cheung Kin-chung said sanctions against Hong Kong are a "double-edged sword" as these will also harm America.
May 31, 2020 19:07 UTC
Bleak financial results caused by the coronavirus disease 2019 (Covid-19) pandemic dragged shares of fast food giant Jollibee Foods Corp. (JFC) down to 18-percent week-on-week. In a regulatory filing, JFC said it booked a net loss of P1.8 billion from January to March, a complete turnaround from its P1.5-billion net income in the same period last year. “Earlier this week, investors sold-off JFC’s shares after the company released a statement that it would implement significant changes to its global business structure by injecting P7 billion. Following the easing of quarantine measures in Metro Manila, Alviar sees more bargain hunting for JFC’s shares this week. “This is a positive development for JFC, knowing that one of the reasons of its net loss in [the first quarter] was the closure of majority of its stores in the Philippines.
May 31, 2020 17:13 UTC
The Coalition of Moro Youth Movement (CMYM) conducted a campaign to fight misinformation on Covid-19 in the Bangsamoro Region. Capitalizing on their significant social media following, the CMYM produced materials with updated information and frequently asked questions about Covid-19. Among the recipients are the Local Task Force against Covid-19 and frontline workers from the Moro Islamic Liberation Front. The hygiene kits distribution was also supported by the Bangsamoro Youth Commission and the Office of MP MarjanieMacasalong. The CMYM is a consortium of Moro youth groups advocating for peace and inclusive development.
May 31, 2020 17:13 UTC
Not a few Filipino America-lovers were quick to post in social media photos of Hong Kong youth taunting the police. These happened just as America’s Blacks were realizing that in most US cities, African Americans accounted for half and even more of those killed Covid-19. “With respect to home ownership, unemployment and incarceration, America has failed to deliver any progress for African Americans over the last five decades. In 2017 the black unemployment rate was 7.5 percent, up from 6.7 percent in 1968, and is still roughly twice the white unemployment rate. With the poorest decile getting a smaller and smaller pie, guess which sector of Americans are getting poorer and poorer?
May 31, 2020 17:03 UTC
The partial to total lockdowns imposed in more than 100 countries worldwide due to the coronavirus disease 2019 (Covid-19) has taught us lessons and opportunities we never imagined we could have. How we do things will have to drastically change if we are to avoid getting infected or spreading the still mysterious coronavirus disease. So much has been written about the adverse effects of Covid-19 and the ensuing lockdown on our daily life. Some friends have also passed around a long list of YouTube links of live concerts of various international and local artists to entertain us while we stay at home. In the local scene, popular entertainers have also been regaling us with mini-concerts on Facebook Live.
May 31, 2020 17:01 UTC
The proposed Corporate Recovery and Tax Incentives for Enterprises (Create) Act would support the Philippine economy in the near term, but could affect the inflows of foreign direct investments (FDIs) in the country, S&P Global Ratings said. Another key feature of Create is the extension of the sunset period for current incentive recipients from four to nine years. Meanwhile, S&P added it expects Create as well as the uncertainty regarding the coronavirus disease 2019 (Covid-19) pandemic to weigh on FDIs over the near term. Latest data showed that net FDI inflows declined to a two-month low of $657 million in January. Last year, net FDI inflows sank to a four-year low of $7.64 billion on the back of dampened investor sentiment because of global uncertainties.
May 31, 2020 16:52 UTC
THE Catholic Bishops’ Conference of the Philippines has set this rather “interesting” year as the Year of Interreligious Dialogue. “O bring them back, Good Shepherd of the Sheep…,” went one of the pious songs popular at the time. These are divergences not only in ritual or liturgical expression; they go to the very core of what is believed. In Catholic terms, they are differences about what we consider “dogmatic.” And serious, scholarly dialogue along these lines must be pursued. And our common faith in the gift of the Eucharist should allow full “communicatio in sacris” (common participation in worship) without further ado.
May 31, 2020 16:52 UTC
Filipino Grandmaster Wesley So stunned world No. 2 GM Fabio Caruana to rule the inaugural Clutch Chess Champions Showdown and bag $40,000 (over P2 million) on Friday in the United States (Saturday in Manila). “I am so happy right now to win the first-ever Clutch Chess tournament. “We were extremely impressed by everyone’s enterprising and aggressive play throughout the Clutch Chess tournament. The Saint Louis Chess Club organized the online competition that ran from May 26 to 29 in the US.
May 31, 2020 16:49 UTC
The country’s headline inflation likely registered a slight increase in May due to the increase in local oil and food prices, analysts polled by The Manila Times said. Security Bank Corp. (SBC) chief economist Robert Dan Roces, meanwhile, forecasts inflation to hit 2.3 percent. “Our headline inflation rate call for May is 2.3 percent year-on-year, with a forecast range of 2.1 to 2.5 percent. Thus, inflation could remain relatively benign,” said RCBC chief economist Michael Ricafort. Japhet Louis Tantiangco, research associate at Philstocks, meanwhile, said oil prices contributed to the inflation upside amid its April lows.
Pope Francis on Saturday (Sunday in Manila) called on world leaders to act wisely and generously to provide social and economic relief for the many workers who have lost their jobs because of the coronavirus pandemic. “Once we emerge from this pandemic, we will not be able to keep doing what we were doing, and as we were doing it. “From the great trials of humanity — among them this pandemic — one emerges better or worse. In his prayer, Francis urged Mary to comfort those who lost a loved one to the virus. Francis is due to celebrate a Pentecost Mass in St. Peter’s Basilica on Sunday, albeit without members of the public in attendance.
PAYMENTS and remittance network TrueMoney rolls out its award-winning Dagdag Puhunan program for the benefit of local communities amid the pandemic. In partnership with Unilever, it enables cashless payment for purchase of essential food and non-food products. Instead of paying products in cash, sari-sari store owners can transact through the secure Dagdag Puhunan platform, using their Unionbank credit line to directly purchase stocks from Truemoney’s FMCG partners. Amy Garcia, a sari-sari store owner for more than two decades recognizes the low touch economy innovations of Dagdag Puhunan. The inclusion of the Dagdag Puhunan credit facility expanded this partnership.
SOLICITOR General Jose Calida has given his commitment to attend the hearing on the ABS-CBN Corp. franchise bills on Monday. Calida confirmed, in a text message to The Manila Times, that he would be present in the joint hearing of the House Committee on Legislative Franchises and Committee on Good Government. The House of Representatives issued a warning to Calida that he must attend the hearing or he would be cited for contempt. Calida earlier told Rep. Franz Alvarez, chairman of the House Committee on Legislative Franchises, that he could not attend the first hearing of the ABS-CBN franchise because of the pending cases before the Supreme Court. Pichay stated that under Republic Act (RA) 7925 or the “Public Telecommunications Policy Act of 1995,” the terms “telecommunications,” “broadcasting,” “public telecommunications entity” and “franchise” were clearly defined.
May 31, 2020 16:42 UTC
BERLIN: ‘Road Runner’ Alphonso Davies lived up to his nickname with another lightning sprint on Saturday (Sunday in Manila) while Hansi Flick bettered Pep Guardiola’s record start as head coach of Bayern Munich, who opened a 10-point lead in the Bundesliga. The visitors’ defender Mathias Joergensen scored an early own-goal before Benjamin Pavard, Robert Lewandowski (2) and Davies hit the target for Bayern. With five games left, the defending champions, who have won their last eight league games, are comfortably on course for an eighth straight league title. The 19-year-old, who was born in a Ghanaian refugee camp before his parents emigrated to Canada, was nicknamed Bayern’s ‘Road Runner’ by teammate Thomas Mueller after the win in Dortmund. “Yeah, I am quick, but him (Mueller) calling me the ‘Road Runner’ is a compliment which I take to heart and it was a good nickname,” added Davies.
May 31, 2020 16:41 UTC
THE presidential adviser for entrepreneurship is appealing to the private sector for vigilance and continuous testing for the coronavirus disease 2019 (Covid-19) even as Metro Manila eases towards general community quarantine. Project ARK-PCR (antibody rapid test kits-polymerase chain reaction test) and Go Negosyo Founder Jose Ma. “Joey” Concepcion 3rd said only by continuous mass testing could the country keep the economy open. He said all the available testing methods — from the rapid antibody test to the reverse transcriptase polymerase chain reaction (RT-PCR) test — must be used to provide authorities a clear picture of the extent of the virus’ spread. Concepcion also urged the private sector to be vigilant to avoid a “devastating” second lockdown.
May 31, 2020 16:41 UTC
Nickel Asia Corp. (NAC) has 13,632,970,117 outstanding NAC common shares, with P0.50 par value. 31, 2020 listed three principal stockholders as holders of 8,974,087,114 NAC common shares, or 65.826 percent of 13,632,970,117 outstanding common shares. The principal owners were Sumitomo Metal Mining Philippine Holdings Corp., 3,614,397,887 common shares, or 26.512 percent; Manta Resources Corp., 3,529,392,736 common shares, or 25.889 percent; and Ni Capital Corp., 1,830,296,491 common shares, or 13.426 percent. Nickel Asia attributed to its public stockholders their ownership of 4,576,696,986 NAC common shares, or 33.571 percent of outstanding. Their respective ownerships are as follows: Brimo, 28,360,009 common shares, or 0.208 percent; Philip T. Ang, 3,174,767 common shares, or 0.023 percent; Zamora, 16,211 common shares; Toru Higo and Masahiro Kamiya, 2,023 common shares each; Luis Juan L. Virata, one common share; Maria Patricia Z. Riingen, 911,800 common shares; and Frederick Y. Dy and Fulgencio S. Factoran Jr., 1,516 each.
May 31, 2020 16:37 UTC