June 14, 2022
GAS PRICES
Source The Manila Times
Old health vs economy debate resurfaces
Daily Tribune, June 14, 2022
Jom Garner, Raffy Ayeng And Edjen Oliquino
Should Covid-19 cases continue to increase, the Department of Health (DoH) on Monday floated the possibility of placing Metro Manila under Alert Level 2, an issue that did not sit well with business and Trade and Industry chief Ramon Lopez...
COVID-19 infections continue to rise
Philippine Daily Inquirer, June 14, 2022
Dona Z. Pazzibugan, Julie M. Aurelio
The Department of Health (DOH) on Monday noted the increasing number of people getting sick with COVID-19, reporting 1,682 new cases, or an average of 240 daily infections, last week...
FDI inch up by 2% in Q1
Philippine Star, June 14, 2022
Elijah Felice Rosales
Foreign direct investments (FDI) in the Philippines showed stability in the first quarter, growing by two percent amid risks such as the war in Eastern Europe and monetary tightening worldwide...
Peso skids past P53:$1 level to hit a fresh 3-year low
Philippine Star, June 13, 2022
Ramon Royandoyan
The peso continued its retreat on Monday to sink past the P53-per-dollar level, as expectations of more aggressive rate hikes in the US prop up the greenback and spur capital outflows in emerging markets...
Gov’t agencies urged to review budget proposals
BusinessWorld June 14, 2022
TJT
The Department of Budget and Management (DBM) on Monday urged government agencies to review their budget proposals for 2023, amid limited fiscal space...
BSP to turn GS purchasing window into regular facility
BusinessWorld, June 14, 2022
Keisha B. Ta-asan
The Bangko Sentral ng Pilipinas (BSP) on Monday said it will reconfigure its government securities (GS) purchasing window into a regular liquidity facility under the interest rate corridor (IRC) framework...
Gov’t urged to allow entry of fish feed ingredients
Philippine Daily Inquirer, June 14, 2022
Jordeene B. Lagare
Aquafeed manufacturers have asked the Department of Agriculture (DA) to lift the ban on the importation of pork products including processed animal proteins (PAP) from Italy that are used in manufacturing fish feed, to help bring down the prices of fish in the markets...
It’s mask on in Cebu as IATF rule to prevail, says DOJ chief
Philippine Daily Inquirer, June 14, 2022
Dona Z. Pazzibugan, Frances Mangosing, Melvin Gascon
The order of the Cabinet-led pandemic task force on the mandatory wearing of face masks against COVID-19 will prevail over that of the Cebu provincial governor’s optional wearing of face masks, Justice Secretary Menardo Guevarra said on Monday...
BSP signals cut in reserve requirement ratio of banks
BusinessMirror, June 13, 2022
Bianca Cuaresma
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said monetary authorities will likely consider cutting the reserve requirement ratio (RRR) of banks within the year...
Nestle PH urges Duterte to sign EPR bill
The Manila Times, June 14, 2022
Anna Leah E. Gonzales
Multinational fast-moving consumer goods company Nestle Philippines on Monday expressed support for the consolidated legislation on Extended Producer Responsibility (EPR) and urged President Rodrigo Duterte to sign this into law...
DTI launches online accreditation in NCR
The Manila Times, June 14, 2022
Anna Leah E. Gonzales
Service and repair business accreditations can now be conducted online, the Department of Trade and Industry (DTI) said...
Facebook parent firm to launch ‘metaverse academy’ in France
Philippine Daily Inquirer, June 14, 2022
Agence France-Presse
Facebook’s parent company Meta and a French digital training firm will launch a “metaverse academy” in France for the new academic year, the two organizations said on Sunday...
Ukrainians are using 3D technology to preserve hundreds of cultural artifacts in a digital archive, far away from Russia's attacks
CNN Philippines, June 13, 2022
Emma Tucker, CNN
A blown-up Russian tank near Kyiv, a monument for Ukrainian writer Borys Hrinchenko, an apartment building destroyed by artillery and a slide in a children's playground covered in graffiti...
No, Google's AI is not sentient
CNN Philippines, June 14, 2022
Rachel Metz, CNN Business
Tech companies are constantly hyping the capabilities of their ever-improving artificial intelligence. But Google was quick to shut down claims that one of its programs had advanced so much that it had become sentient...
Over P7 billion investments seen from new Philippines-UAE agreement
Philippine Star, June 14, 2022
Louella Desiderio
Over P7 billion worth of investments are expected to be generated with the signing of the Philippines and United Arab Emirates (UAE) of an investment promotion and protection agreement (IPPA)...
Duterte’s last WB loan: $178.1M to address Pinoy kids’ stunting
Philippine Daily Inquirer, June 13, 2022
Ben O. de Vera
Before President Duterte leaves office on June 30, the Philippines will borrow $178.1 million from the World Bank (WB) for a project aimed at addressing prevalent stunting among Filipino children...
ADB to continue support for ‘Build, Build, Build’ under Bongbong Marcos admin
Philippine Daily Inquirer, June 13, 2022
Neil Arwin Mercado
The Asian Development Bank (ADB) will continue supporting the Philippine government’s “Build, Build, Build” program under the administration of President-elect Ferdinand “Bongbong” Marcos Jr...
PH, Mongolia agree to boost defense cooperation
Philippine Daily Inquirer, June 14, 2022
Frances Mangosing
The Philippines and Mongolia have signed a memorandum of understanding (MOU) that will promote defense cooperation between the two countries...
Marcos meets more envoys as inauguration nears
Philippine Daily Inquirer, June 14, 2022
Jeannette I. Andrade
President-elect Ferdinand Marcos Jr. has received a formal invitation from Egyptian President Abdel Fattah al-Sisi to attend the United Nations climate change conference or COP 27 set in November at Sharm el-Sheikh...
USTR meets with IPEF partners, including PHL
BusinessMirror, June 13, 2022
Andrea E. San Juan
United States Trade Representative (USTR) Katherine Tai recently convened a meeting with the Indo-Pacific Economic Framework for Prosperity (IPEF) partner countries including the Philippines to discuss objectives related to digital economy and trade facilitation among others...
WTO has key role to play in fighting pandemics–DTI
BusinessMirror, June 13, 2022
Andrea E. San Juan
The Department of Trade and Industry (DTI) said the World Trade Organization (WTO) has a significant role to play in ensuring the smooth supply of essential goods that will help the world fight future pandemics...
PHL, Israel aim to build ‘bridges of innovation’
BusinessMirror, June 13, 2022
Andrea E. San Juan
Trade Secretary Ramon M. Lopez and Israel Innovation Authority (IIA) Chairman of the Board and Chief Scientist Dr. Ami Appelbaum, who signed the cooperation agreement, said they recognize the importance of innovation to achieving sustainable and inclusive economic growth...
US to keep up North Korea pressure; Seoul urges China to use influence
Philippine Daily Inquirer, June 14, 2022
Reuters
The United States will maintain pressure on North Korea until Pyongyang changes course, U.S. Secretary of State Antony Blinken said on Monday, while his South Korean counterpart urged China to persuade the North not to resume nuclear testing...
Russian forces cut off last routes out of eastern Ukraine city
Philippine Daily Inquirer, June 14, 2022
Reuters
Russian forces cut off the last routes for evacuating citizens from the eastern Ukrainian city of Sievierodonetsk, a Ukrainian official said, as the Kremlin pushed for victory in the Donbas region...
Heat wave scorches central US, people urged to stay indoors
Rappler, June 13, 2022
Reuters
A heatwave will bake the southwestern and central United States starting on Monday, June 13, when record-breaking temperatures are expected to soar above 100 degrees (38C), with forecasters warning people to stay indoors and drink plenty of fluids...
Markets dive on inflation woes as dollar spikes against yen, rupee
ABS-CBN News, June 13, 2022
Agence France-Presse
Markets tumbled in Asia and Europe on Monday to extend a global rout while the dollar soared after a forecast-beating US inflation print ramped up bets on a more aggressive campaign of Federal Reserve interest rate hikes...
Pandemic stress may disrupt ovaries; blood test may improve immunity assessment
GMA News, June 14, 2022
Nancy Lapid, Reuters
Pandemic stresses have been linked with disruptions in ovulation for many women without obvious changes to menstrual cycles, according to a new study...
Sanofi-GSK COVID-19 booster jab shows positive results
GMA News, June 14, 2022
French drug maker Sanofi said Monday a COVID-19 booster shot it is developing with Britain's GlaxoSmithKline has produced positive results against Omicron and other variants in clinical trials...
Low risk of major health issues seen with mRNA vaccines — study
GMA News, June 14, 2022
Nancy Lapid, Reuters
Both commercially available mRNA vaccines are safe, with low risks of major adverse events, according to a large study that tracked 433,672 US veterans for 38 weeks following vaccination...
Pfizer COVID-19 vaccines safe and effective for small kids, FDA staff say
BusinessWorld, June 13, 2022
Reuters
US Food and Drug Administration (FDA) staff reviewers on Sunday said Pfizer-BioNTech’s coronavirus disease 2019 (COVID-19) vaccines were effective and safe for use in children aged 6 months to 4 years...
Beijing tightens Covid restrictions over 'ferocious' bar cluster
Philippine Star, June 13, 2022
Agence France-Presse
Beijing started a new round of mass testing in its most populous downtown district on Monday after a rapidly spreading outbreak linked to a bar saw Covid rules tightened again in the capital...
‘World headed to new nuke rearming era’
Manila Standard, June 13, 2022
Agence France-Presse
The number of nuclear weapons in the world is set to rise in the coming decade after 35 years of decline as global tensions flare amid Russia’s war in Ukraine, researchers said Monday...
Bitcoin plunges below $24,000 and the crypto meltdown claims another casualty
CNN Philippines, June 14, 2022
Anna Cooban, CNN Business
Bitcoin and other cryptocurrencies plunged Monday, and two of the world's biggest cryptocurrency platforms restricted activity as the market meltdown continued apace...
Group questions DepEd’s extension of teachers’ work
Philippine Star, June 14, 2022
Rainier Allan Ronda
Teachers’ Dignity Coalition (TDC), a federation of public school teachers’ associations nationwide, has questioned the Department of Education (DepEd)’s issuance of an order that will extend the work of teachers beyond school year 2021-2022 that ends on June 24...
COA flags PIA for P206.3 million discrepancy
Philippine Star, June 14, 2022
Elizabeth Marcelo
The Commission on Audit (COA) has flagged the Philippine Information Agency (PIA) over a P206.304-million discrepancy on the value of its property plant and equipment (PPE) from what was declared in its books as compared to the physical inventory...
Tunnel construction for Metro Manila Subway begins
Philippine Daily Inquirer, June 14, 2022
Tyrone Jasper C. Piad
Underground work for the Metro Manila Subway project—targeted to be operational by 2027 — is set to begin following the recent lowering of the tunnel boring machine (TBM), which can facilitate the drilling of 12 meters of tunnels per day...
Marcos Jr. admin to craft fresh 6-year fiscal plan
Philippine Daily Inquirer, June 13, 2022
Ben O. de Vera
The incoming Marcos Jr. administration’s chief economic manager will lead the crafting of the Philippines’ first-of-its-kind, six-year fiscal plan, which is aimed at bringing the Philippines back to the prepandemic budget deficit level by 2028...
BI employees sacked over ‘pastillas’ scam no longer reporting for work
Philippine Daily Inquirer, June 14, 2022
Dempsey Reyes, Dona Z. Pazzibugan
The 45 Bureau of Immigration (BI) officers and employees ordered dismissed last week by the Ombudsman for their involvement in the so-called pastillas bribery scheme have stopped going to work, according to a Department of Justice (DOJ) official...
DoH: Alert Level 2 in Metro possible
The Manila Times, June 14, 2022
Franco Jose C. Baroña
The Department of Health (DoH) said on Monday that placing Metro Manila under Alert Level 2 remains a possibility if Covid-19 cases continue to increase...
Bulusan’s ash triggers respiratory infections among Sorsogon kids
Philippine Daily Inquirer, June 14, 2022
Ma. April Mier-Manjares
Health officials in Juban town in Sorsogon province have been recording a number of respiratory illnesses in children after more than a week of exposure to ash spewed by the restive Bulusan Volcano...
Focus on teacher training, DepEd urged
Philippine Daily Inquirer, June 14, 2022
Melvin Gascon
The incoming Marcos administration should focus on ensuring quality education and sufficient training for teachers to address the education crisis hounding the country, Sen. Sherwin Gatchalian said on Monday...
Cagayan Valley logs 2,094 dengue cases, 6 deaths
Philippine Star, June 14, 2022
Victor Martin
A total of 2,094 dengue cases have been recorded while six persons have died from the mosquito-borne disease in Cagayan Valley, the regional health office reported yesterday...
Fewer cars on EDSA as fuel prices soar – MMDA
Philippine Star, June 14, 2022
Ghio Ong
The volume of vehicles passing through EDSA dropped amid the rising prices of fuel products, the Metropolitan Manila Development Authority (MMDA) reported yesterday...
No need to raise Bulusan warning — Phivolcs
Daily Tribune, June 14, 2022
Gab Humilde Villegas
The Philippine Institute of Volcanology and Seismology (Phivolcs) on Monday said that they do not see the necessity to raise the Alert Level in Mount Bulusan after the volcano had another phreatic eruption on Monday...
Revamp IATF, Marcos urged
Daily Tribune, June 14, 2022
Tribune reportorial team
President-elect Ferdinand “Bongbong” Marcos Jr. should alter the composition of the government’s highest policy-making body on the Covid-19 response to make it more effective, according to medical groups...
Promoting solid waste management in public schools
ABS-CBN News, June 13, 2022
Education is key. Children need to be properly trained and educated to learn how to live differently than what they see in their current surroundings. Well guided children learn better and can step up to create a change in their environment...
Comelec conducting administrative preparations for BSKE
BusinessMirror, June 13, 2022
Samuel P. Medenilla
The Commission on Elections is pushing through with all administrative preparations for the Barangay and Sangguniang Kabataan Elections (BSKE), despite calls from some lawmakers to postpone it...
‘Government must prepare hospitals for rise in Covid-19 cases’
BusinessMirror, June 13, 2022
Samuel P. Medenilla
A member of the Vaccine Expert Panel (VEP) urged the government to start boosting the capacity of healthcare facilities in anticipation of the possible increase in Covid-19 cases in the coming weeks...
Comelec says to release bets’ expense reports ‘soonest’
Philippine Daily Inquirer, June 13, 2022
Zacarian Sarao
The Commission on Elections (Comelec) on Monday assured that it would release “the soonest” statements of contributions and expenditures (SOCEs) of candidates in the 2022 polls...
DOJ chief says IATF resolutions prevail over LGU orders
Philippine Daily Inquirer, June 13, 2022
Tetch Torres-Tupas
The resolutions of the government’s pandemic task force prevail over executive orders issued by local government units, according to Department of Justice (DOJ) Secretary Menardo Guevarra on Monday...
Barangay, SK elections preparations started, ongoing – Comelec
Philippine Daily Inquirer, June 13, 2022
Zacarian Sarao
The Commission on Elections (Comelec) on Monday said it has already begun “administrative and operational” preparations for the barangay and Sangguniang Kabataan (SK) elections...
DOH: 2nd anti-COVID booster shot only for healthcare workers, seniors, immunocompromised
Philippine Daily Inquirer, June 13, 2022
Zacarian Sarao
The Department of Health (DOH) on Monday reminded the public that only frontline healthcare workers, senior citizens, and immunocompromised adults are qualified to take the second booster shot or a fourth dose of the COVID-19 vaccine...
‘Not safe yet’ to lift mask rule, outdoor areas not free from risk, says expert
Philippine Daily Inquirer, June 13, 2022
Christia Marie Ramos
An infectious disease expert on Monday said outdoor spaces are not free from the risk of COVID-19 transmission, saying lifting the mandatory wearing of face masks in these areas is “not safe yet.”...
MMDA gearing up for face-to-face classes
Manila Standard, June 13, 2022
Joel E. Zurbano
The Metropolitan Manila Development Authority (MMDA) is gearing up for the resumption of face-to-face classes in August...
Palace orders suspension of five ARTA officials
Manila Standard, June 13, 2022
Vito Barcelo
Malacanang has implemented the suspension order handed down by the Office of the Ombudsman against five officials of the Anti-Red Tape Authority (ARTA) for six months for the alleged anomalous grant of frequencies to a private telecommunications company...
DOH: No cause yet to raise alert level in Metro Manila, but stricter restrictions possible
CNN Philippines, June 13, 2022
CNN Philippines Staff
A health official said on Monday there is no basis yet for Metro Manila to be placed under the stricter Alert Level 2 despite the majority of cities recording increases in COVID-19 cases...
OCTA sees NCR escalating to moderate COVID-19 risk in June as cases steadily rise
CNN Philippines, June 13, 2022
CNN Philippines Staff
Metro Manila could escalate from low risk to moderate COVID-19 risk classification due to the steady increase in new infections in the region, OCTA Research said on Monday...
Domestic trade grows modestly in 3 months
Philippine Star, June 14, 2022
Louise Maureen Simeon
The swift reopening of the economy after the Omicron snag in the first quarter led to a modest expansion of the trading of commodities in the country...
Another week of oil price spike
Daily Tribune, June 14, 2022
Maria Romero
Motorists and public utility drivers and operators, who have been taking the blow of the spiraling local prices of petroleum products, need to sustain another week of spike...
Large PH banks saw more growth through April
Philippine Daily Inquirer, June 14, 2022
Ronnel W. Domingo
Philippine universal and commercial banks were able to continue supporting the country’s financing needs, showing a steady rise in assets, loans, and deposits...
PSEi drops below 6,500 on red-hot US inflation
Philippine Star, June 14, 2022
Iris Gonzales
With no fresh catalysts on the local front, Philippine stocks joined other Asian emerging markets rattled by a scorching US inflation report, bringing the main index down to its lowest in a month...
PH firms brace for more pain
Philippine Daily Inquirer, June 14, 2022
Tyrone Jasper C. Piad
The logistics constraints that have disrupted the supply chains of several businesses, including local restaurants, are expected to be a burden until next year, adding pressure for prices of basic commodities to further increase...
BCDA remits P7.38 billion to Treasury, up 60.8%
BusinessWorld, June 13, 2022
Revin Mikhael D. Ochave
The Bases Conversion and Development Authority (BCDA) said it remitted P7.38 billion to the Bureau of the Treasury (BTr), up 60.8%...
PHL pork imports to hit record as farms struggle to recover
BusinessMirror, June 13, 2022
Jasper Y. Arcalas
The Philippines’s pork imports this year may expand by 2.71 percent year-on-year to a record 341,000 metric tons (MT) to plug the shortfall in domestic supply created by African swine fever (ASF), a United Nations agency said...
DOF: P8.2B spent on cash aid to ease imports’ impact on PH farmers
Philippine Daily Inquirer, June 13, 2022
Ben O. de Vera
During the three years after the government liberalized rice trade, more than one million rice farmers received a total of over P8.2 billion in cash aid to ease the pain inflicted by the influx of imports, the Department of Finance (DOF) said on Monday (June 13)...
Pump prices of fuel may reach P100 per liter
Philippine Daily Inquirer, June 14, 2022
Jordeene B. Lagare
Local fuel prices may inch closer to reaching the P100 per liter mark as oil companies implement another round of hefty increments in the prices of petroleum products this week...
State banks give cash aid under rice tariff law
Manila Standard, June 13, 2022
Julito G. Rada
Land Bank of the Philippines and Development Bank of the Philippines facilitated the distribution of over P8.2 billion to farmers under the Rice Tariffication Law, the Department of Finance (DoF) said Monday...
NEW ACQUISITION
Corporate financial distress, restructuring, and bankruptcy : analyze leveraged finance, distressed debt, and bankruptcy, 4th edition
by Edward I. Altman; Edith Hotchkiss and Wei Wang
Publisher: Hoboken, New Jersey: Wiley, 2019
HG 3766 A66 2019 B-38487
Abstract: The book is a comprehensive look at the enormous growth and evolution of distressed debt markets, corporate bankruptcy, and credit risk models. It updates and expands its discussion of financial distress and bankruptcy, as well as the related topics dealing with leveraged finance, high-yield, and distressed debt markets. It offers state-of-the-art analysis and research on U.S. and international restructurings, applications of distress prediction models in financial and managerial markets, bankruptcy costs, restructuring outcomes, and more.