Philippine COVID-infections hit 1.09M

The Department of Health (DoH) reported 7,733 coronavirus infections on Friday, bringing the total to 1.09 million. The death toll rose by 108 to 18,099, while recoveries increased by 4,227 to over one million, it said in a bulletin. There were 66,626 coronavirus infections,1.1% of which were critical, 94.4% were mild, 2% did not show symptoms, 1.5% were severe and…

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Timeless investments with M Lhuillier Jewellers

With the economic effects caused by the pandemic, it’s more important than ever to make smarter decisions about finances and be prepared for what comes next. As investments, fine jewelry continues to stand the test of time. While currencies often fluctuate, the value of precious metals and gems are stable and even increase over time, making jewelry a less risky…

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Monde Nissin gets investor commitments for $1-B IPO

SINGAPORE – Philippine food maker Monde Nissin Corp has secured investor commitments for a $1 billion initial public offering (IPO) at P13.50 ($0.28) each, in what would be the country’s biggest IPO on record, three sources familiar with the matter told Reuters on Wednesday. The owner of meat alternative Quorn had flagged the sale of up to 3.6 billion primary…

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Inflation steadies in April

INFLATION sustained its pace in April from the preceding month even as core inflation eased to a five-month low, the government reported this morning Preliminary data from the Philippine Statistics Authority showed the consumer price index rose 4.5% year on year last month, unchanged from March, but faster than April 2020’s 2.2%. April headline inflation was lower than the median…

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International Finance Awards hails Globe as fastest growing 5G network, Ernest Cu as best CEO

The 2021 International Finance Awards (IFA) recognized Globe Telecom as the “Fastest Growing 5G Network Service Provider” and hailed Globe President and Chief Executive Officer Ernest L. Cu as the “Best Telecommunications CEO.” The IFA Awards for Telecom seeks to validate the efforts of every contender that is technologically advanced and provides cutting-edge connectivity to customers all over the world.…

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Philippines vows to continue maritime exercises in South China Sea

MANILA – The Philippines will continue maritime exercises inside its 200-mile Exclusive Economic Zone (EEZ) in the South China Sea, the country’s defense minister said on Sunday, despite a call by China to stop actions that it said could escalate disputes. The Philippine coastguard and fisheries bureau started maritime exercises last month, having boosted its presence in the area to…

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NEDA pushes for reopening of economy once virus surge subsides

The National Economic and Development Authority (NEDA) said on Saturday there is a need to safely reopen the economy once the surge in coronavirus disease 2019 (COVID-19) infections starts to subside in order to restore jobs. “To accelerate job creation this year, a three-pronged strategy is advocated. First, the safe reopening of the economy immediately after this present spike, while…

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Gov’t places Ifugao under MECQ; Puerto Princesa added to GCQ areas

The government is placing the province of Ifugao under the second strictest lockdown level — modified enhanced community quarantine (MECQ) — from May 1 to 14, while the city of Puerto Princesa in Palawan has been placed under general community quarantine (GCQ) for the whole month of May. The Ifugao and Puerto Princesa lockdowns were requested by provincial authorities, presidential…

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Longer lockdown to weaken recovery

METRO MANILA, Bulacan, Cavite, Laguna and Rizal will remain under a modified enhanced community quarantine until May 14 as the country continues to have one of the worst coronavirus disease 2019 (COVID-19) outbreaks in the region. — PHILIPPINE STAR/ MICHAEL VARCAS By Beatrice M. Laforga, Reporter THE Philippine economy’s recovery will likely be weaker than initially expected, as Metro Manila…

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Philippines to secure $3.9-billion ADB loans this year

The Asian Development Bank (ADB) increased its lending program for the Philippines this year to $3.9 billion (P188.9 billion), after including a fresh loan it granted for the government’s mass vaccination program. The multilateral bank’s lending program is composed of eight projects in infrastructure, local governance and social programs, ADB Country Director for the Philippines Kelly Bird said in a…

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