The announcement comes after fresh restrictions were put on large events and hospitality venues earlier this week due to concern over the Omicron variant. Deputy First Minister John Swinney said a new law would require nightclubs to close rather than have them try to enforce 1m distancing between customers. He […]
What’s on your bedside reading table?
By Patricia Mirasol From autobiographies to mystery novels and classic bestsellers, founders and business professionals give BusinessWorld readers a glimpse of their current reading fare. The Philippines has a reading culture, the co-founders of the Big Bad Wolf book fair told BusinessWorld in a June interview. This observation is reflected […]
Philippine supertyphoon Rai ‘exceeded all predictions’ – forecaster
PHILIPPINE COAST GUARD FACEBOOK PAGE SINGAPORE – The rapid intensification that turned this week’s Typhoon Rai (local name: Odette) into the strongest storm to hit the Philippines this year surpassed all predictions, forecasters said, leaving nearly 400 people dead and almost a million displaced. While it’s unclear exactly how global […]
Aboitiz-led UnionBank opens 150th Ark in Cebu, offers invaluable service to ‘Odette’ victims
Marking another milestone in its bank transformation efforts, Aboitiz-led Union Bank of the Philippines (UnionBank) opened its 150th Ark branch in Cebu last Nov. 29, 2021. Aimed at continuing to provide superior customer experience in its physical touchpoints, the country’s first fully-digital bank branch opened its doors at the Queen […]
BoP back to deficit in November
By Luz Wendy T. Noble, Reporter THE country’s balance of payments (BoP) position returned to a deficit in November as the National Government repaid some foreign loans and external trade improved. Last month’s BoP position swung to a $123-million deficit, from the $1.473-billion surfeit seen in November 2020, based on […]
Sunak’s new support package for hospitality and leisure businesses branded as ‘insulting’
New economic support for the hospitality sector “borders on insulting” and amounts to “far too little”, the Treasury has been told. Chancellor Rishi Sunak has announced an additional £1bn in financial support for the hospitality and leisure sectorsSunak pledges £1Bn support for hospitality sector with £6,000 cash grants per premises, […]
Food running out, Philippine typhoon survivors warn
PHILIPPINE COAST GUARD FACEBOOK PAGE MANILA – Philippine officials and residents of areas that bore the brunt of Typhoon Rai pleaded for food, water, and shelter on Tuesday as damaged roads, flooding, and severed power and communication lines hampered relief efforts. Rai struck last Thursday, the strongest typhoon to hit […]
PHL secures P14-B loan from France
Many houses were destroyed in Surigao del Norte during the onslaught of typhoon Odette. Photo taken by the Philippine Coast Guard, Dec. 17. Courtesy of Philippine Coast Guard THE Philippine government signed a €250-million (about P14-billion) loan agreement with France’s development agency to support local governments’ disaster response, the Department […]
Stocks drop on typhoon damage, Omicron fears
COURTESY OF PHILIPPINE STOCK EXCHANGE, INC. STOCKS dropped on Monday as investors assess the damage caused by Typhoon Odette, which may affect economic growth, and amid the spread of the Omicron variant. The 30-member Philippine Stock Exchange index (PSEi) fell 60.05 points or 0.82% to close at 7,237.61 on Monday, while the […]
‘Odette’ may dampen PHL recovery
Typhoon Odette left a trail of destruction in Surigao del Norte, as seen in this photo taken by the Philippine Coast Guard Civil Relations Service, Dec. 18. — PHILIPPINE COAST GUARD FACEBOOK PAGE AGRICULTURE and productivity losses caused by Typhoon Odette could significantly impact fourth-quarter economic expansion, economists said. Socioeconomic […]