DICT Warns Courier Service Providers Violating Gov’t Guidelines During Quarantine

The Department of Information and Communications Technology warned Private Express and Messengerial Delivery Service operators who violate the government’s guidelines on handling and delivering basic goods and necessities amid the community quarantine.  The DICT said it received several complaints regarding the actions and protocols of some of these operators and reminded them “to strictly comply with the guidelines and directives… …

Petron Says Fuel Supply is Secure

The Philippine’s largest fuel refiner said it has a steady supply of its petroleum products during the Luzon-wide enhanced community quarantine. Petron Corporation on Saturday assured its continuous delivery of fuel supplies from March 17 to April 14 as the government ramped up its fight to prevent the spread of COVID-19. Petron President and Chief Executive Officer Ramon Ang said …

Philippine Stock Exchange Narrows Trading Band

With stocks on a freefall across the global, the Philippine Stock Exchange amended its trading rules to temper the daily decline of local stock prices.  In a memorandum dated March 21, PSE president Ramon Monzon said the exchange obtained approval from the Securities and Exchange Commission to amend the lower static threshold from 50 to 30 percent below the previous …

COVID-19 Accelerates Shift Toward Digital Payments

Currency can serve as a vehicle for transmitting pathogens – much like a mosquito. Studies have found that the human influenza virus, for example, can remain alive and infectious on banknotes for 17 days. It would not be unreasonable to assume that physical currency has played a role in spreading COVID-19 as well.  Many countries will be weighing the option …

Thousands of Test Kits, Masks from China Arrive in PH

China’s donation of tens of thousands of surgical masks, personal protective equipment and test kits to tackle COVID-19 arrived in the country early Saturday morning, the Chinese Embassy in Manila said.  The aid package includes one hundred thousand coronavirus test kits, one hundred thousand surgical masks, ten thousand N95 masks and ten thousand sets of personal protective equipment, the embassy …

DTI Assures Free Movement of Cargo During Lockdown

The Department of Trade and Industry on Saturday assured the free movement of cargo, whether food or non-food, amid the enhanced community quarantine in Luzon to prevent the spread of the novel coronavirus.  This, after several manufacturers, distributors and retailers complained that trucks, including those carrying raw materials for food production, were reportedly being barred at checkpoints.  The agency has …

BIR Extends ITR Filing Deadline to May 15

The Bureau of Internal Revenue is extending the deadline for the filing of income tax returns to May 15 as the nation grapples with the coronavirus disease 2019 crisis. The development was announced by Senator Christopher “Bong” Go on Thursday. He said, after he discussed the issue with the President and Finance Secretary Carlos Dominguez III, the Department of Finance …

BSP Chief on Economic Recovery: V-Shaped at Best, U-Shaped at Worst

The head of the country’s central bank said on Wednesday that the Philippine economy will surely be adversely impacted by the coronavirus epidemic, but that the question of how fast the recovery will be will depend on the success of the ongoing lockdown. Bangko Sentral ng Pilipinas Governor Benjamin Diokno said the Luzon-wide community isolation “will definitely have an impact” …

BDO Offers 60-Day Payment Extension on Loan Payments

BDO Unibank said Wednesday it was offering a 60-day payment extension on loan payments for qualified clients to help them cope with the COVID-19 lockdown.  The extension will cover credit card, auto, home, SME and personal loan customers with due dates of up to April 15. Qualified clients will be notified via email and SMS, the Philippines’ largest lender said.   …