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President Rodrigo Duterte branded the Makabayan bloc in the House of Representatives, and the groups Bayan and Gabriela as “legal fronts” of the communist party, claiming that they are part of a “grand conspiracy” to overthrow the government. Sen. Christopher Lawrence ‘Bong†Go talks to President Rodrigo Duterte before the start of the weekly meeting with members of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases on Nov. 30, 2020. The President reported to the nation after the meeting. CONTRIBUTED PHOTO In a taped public address aired over state-run PTV-4 on Monday night, Duterte said the government was “not red-tagging” these groups but merely identifying them as front organizations of the Communist Party of the Philippines-New People’s Army (CPP-NPA). “Makabayan, Bayan, they are all legal fronts, Gabriela. We are not red-tagging you. We are identifying you as members in a grand conspiracy comprising all the legal fronts that you have organized

As the world marks World AIDS Day on December 1, Health Secretary Francisco Duque 3rd warned that the disease remains a threat with 21 cases reported every day. Duque said that even as the country grapples with the coronavirus disease pandemic, the government and other sectors should also focus on the prevention and reduction of HIV transmission. He added that the government will continue to provide quality care to Persons living with HIV (Human Immunodeficiency Virus) (PLHIV) and AIDS. The Department of Health, together with the Philippine National AIDS Council (PNAC), marks World AIDS Day with the theme “Global Solidarity, Shared Responsibility”, which recognizes and celebrates the contribution of partners and stakeholders in the continuing response against HIV. This year’s theme also recognizes the role played by health workers, civil organizations, PLHIV’s and various agencies in eliminating the stigma and discrimination, while providing accessible testing, treatment, care, and

GENEVA: The World Health Organization voiced alarm Monday over a rapid worsening of the Covid-19 situations in Brazil and Mexico, urging them to be “very serious” about halting the spread. Both countries had seen both cases and deaths from the novel coronavirus surge in recent weeks as a second wave of the pandemic has hit. “I think Brazil has to be very, very serious,” WHO chief Tedros Adhanom Ghebreyesus told reporters, warning the situation there was “very, very worrisome”. And he echoed the same concern when asked about Mexico, saying that country was “in bad shape.” “The number of cases doubled and the number of deaths doubled… we would like to ask Mexico to be very serious.” Brazil has been one of the countries hit hardest by the pandemic, with more than 172,000 people killed — the second-highest number in the world, following the United States. After a seemingly endless plateau, with more than 1,000 deaths a day from June to August, on a seven-day rolling average, the num

The national government’s gross borrowings in October ballooned to over P663 billion, data released by the Bureau of the Treasury (BTr) showed. The actual P663.21-billion gross borrowings in October is significantly higher than the P50.27 billion in the same month last year. During the month, domestic financing soared to P639.04 billion from P47.52 billion in October 2019. Local borrowings were sourced through the issuance of P29.99-billion and P69.04-billion worth of Treasury bills and fixed-rate bonds, respectively. External financing, meanwhile, also went up by 780 percent to P24.69 billion from P2.74 billion a year ago. Total external borrowings in October was sourced through P4.41-billion worth of project loans and P19.75 billion generated via program loans. Year-to-date, the government’s gross borrowings reached P3.22 trillion. National Treasurer Rosalia de Leon, however, said the figure “included the central bank’s advances, which we paid and proceeds from the switch progr

MVP Typhoon relief effort THE MVP Group, which is composed of the companies under the leadership of Manuel V Pangilinan, pours in support to families affected by Typhoon Ulysses (international name: Vamco). “We salute you, our brave men and women across the MVP Group, for tirelessly helping our fellow kababayan. In a pandemic, that is heroism. Salamat sa inyong pagmamalasakit,” Pangilinan said. “Tuluy-tuloy po tayo sa paghahatid ng tulong at pag-asa sa ating mga kababayan (We will continue to provide help and hope to our fellow countrymen),” Pangilinan added. PLDT and Smart provided communication support to affected residents in areas hit by Typhoon Ulysses by setting up libreng tawag, libreng charging, libreng wifi and libreng load stations in Metro Manila, South Luzon, North and Central Luzon, which have also received communication and connectivity assistance from the telco companies. Smart also sent free call and SMS load to over 13 million Smart and TNT customers in areas af

TOYOTA Motor Asia Pacific announced the ‘Toyota Football for Tomorrow’ (TFFT) project, a corporate social responsibility initiative across Southeast Asia to create opportunities for the youth to discover, develop and reach for the possibilities of tomorrow – a personal goal or dream that always seems to be out of reach. In the Philippines, local manufacturer and distributor Toyota Motor Philippines (TMP) will be spearheading TFFT activities to help promising Filipino children develop their football potential. Toyota Football for Tomorrow empowers youth with skills in football and beyond to enjoy the thrill and joy of moving together and to believe in the possibilities of tomorrow. This is inspired by Toyota’s vision to provide the freedom of mobility to all. The videos will star renowned coaches and former Japanese national football players, Seigo Narazaki and Motohiro Yamaguchi among others from Nagoya Grampus. Seigo Narazaki, the legendary national goal keeper who represented Japa

The exchange rate between the Philippine peso and the US dollar (USD) is likely to touch the P47:$1 level this month on the back of still weak greenback and seasonal inflows, according to analysts. Union Bank of the Philippines chief economist Ruben Carlo Asuncion said the local currency may breach the P47:$1 territory next week within the range of P47.95 to P48.25. “It is the longer-term weakness of the USD with the anticipated smooth transition of presidential power in the US and a waning coronavirus outbreak in 2021,” he added. Asuncion also factored in the “seasonal strength” of remittances coming from overseas Filipinos, and the rise in commercial flows during the Christmas season. For his part, Rizal Commercial Banking Corp. chief economist Michael Ricafort said a P47.90 to P48.00 trading range of the peso against the US dollar “ is within striking distance.” He also took into account the expected seasonal increase in overseas Filipino dollar remittances and its conversion

Vice-mayor Artemio Simundac (fifth from left) turned over the City Council’s financial assistance to Muntinlupa City Treasurer Al Miñoza (fourth from left) during the regular council session. Shown in the photo (from left) Coun. Valentino Niefes, Coun. Arlene Hilapo, Majority Floor Leader Coun. Raul Corro, Coun. Eliot Martinez, and Coun. Mamerto Sevilla. MEMBERS of Muntinlupa City Council raised personal donation amounting to P210,000 for the victims of recent typhoons “Ulysses,” “Quinta,” and “Rolly.” Vice-mayor Artemio Simundac turned over the City Council’s financial assistance to Muntinlupa City Treasurer Al Miñoza during the regular council session. Recently, Mayor Jaime Fresnedi pledged to extend P11-million financial assistance to 21 local government units in Luzon that were affected by typhoons for their recovery and rehabilitation. Meanwhile, Muntinlupa City has the lowest Covid-19 average daily attack rate and case transmission risk among Metro Manila cities as of Novembe

S&P Global Ratings maintained that the Philippine economy is likely to contract by 9.9 percent this year before recuperating in 2021. In a report released to the media on Tuesday, S&P projected the country’s economic growth would remain unchanged at -9.5 percent in 2020 but would expand by 9.6 percent in the next. “We keep our GDP (gross domestic product) growth forecast for this year and next unchanged. As before, the base-effect-driven high growth rates for the upcoming years mask the fact that the level of GDP will remain far below the pre-Covid (coronavirus disease 2019) trend even by the end of our forecast horizon,” S&P said. The credit rating agency said the total number of Covid-19 infections is trending down “at a slow pace,” which it said resulted in “some improvements in the population’s mobility and employment in the past few months.” “The economy is also gradually improving, but the disruption of a recent typhoon will delay the recovery,” it added. S&P

THE recent calamities brought by Typhoons Quinta, Rolly, and Ulysses in vast areas of Luzon are a clear manifestation that climate change is a very serious matter and demands the utmost sense of urgency and response. A study shared recently by Alcala, Cagayan town Mayor Cristina Antonio, for instance, connects environmental deterioration to the severe flooding brought by Typhoon Ulysses. Among the factors that contributed to the abnormal flooding are the loss of forests along the mountains and watersheds in the whole of Cagayan Valley which naturally regulate water flow and prevent soil erosion. “Globe believes in the importance of promoting environmental sustainability in order to protect these ecosystems to combat climate change. This is also why we encourage everyone to help in this undertaking in whatever way they can,” said Yoly Crisanto, Globe chief sustainability officer and senior vice president for Corporate Communications. Primary rainforests play an important role in regu

An employee arranges lanterns on a giant Christmas tree installed at the Quezon City Hall. The city named the tree ‘Stars of Hope’ in a bid to spread some cheer during the holidays as the country continues to grapple with the coronavirus pandemic. Photo by Ruy L. Martinez Source: ManilaTimes

Children have a splashing good time in Ilang-ilang river in Imus, Cavite on Sunday despite the threat of rain. PHOTO BY BOY JOSUE Source: ManilaTimes

Dancers practice in front of the Kartilya ng Katipunan on the eve of the 157th birthday of revolutionary leader Andres Bonifacio. PHOTO BY MIKE ALQUINTO Source: ManilaTimes

A man installs a parol (lantern) in a lamp post in Barangay Poblacion 1B, Imus, Cavite on Nov. 23, 2020. Apparently, the popular symbol of Christmas in the Philippines will not just be allowed by Filipinos to gather cobwebs in a dark room of the house during the coronavirus pandemic. PHOTO BY BOY JOSUE Source: ManilaTimes

India has vowed to help the Philippines beef up its maritime defense capability to better fight terrorism. In an exclusive online interview with The Manila Times, India’s Ambassador to the Philippines Shambhu Kumaran reiterated his country’s commitment to eliminate terrorism. Kumaran said Indian Prime Minister Narendra Modi pledged during the recent Joint Consultative Commission meeting to widen cooperation on maritime security to effectively deal with terrorism. “It’s a great honor to be in the Philippines. We have a big relationship with a potential growth much, much bigger. And we do also have a lot of interest in maritime security,” he said. Modi offered to help the Philippines set up a coastal surveillance system, he added. India has had to deal with terror attacks in the recent past, including the raid in Mumbai in November 2008 carried out by Pakistan-based group Lashkar-e-Taiba. A total of 166 people, including 18 security personnel, were killed when 10 terrorists arrived

SEN. Christopher Lawrence “Bong” Go has urged the public to continue complying with health protocols and avoid holding mass gatherings during the holiday season as the threat of the coronavirus disease 2019 (Covid-19) remains. In an interview after leading the distribution of assistance to typhoon victims in Plaridel, Bulacan on Friday, Go said he understands the important role of family gatherings during Christmas, but the safety and lives of loved ones must come first. “I discourage any party, celebration. [Partygoers] could spread disease among themselves,” the chairman of the Senate Committee on Health and Demography said in Taglish. He earlier urged the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) to provide the public proper guidance on safety protocols, particularly the holding of gatherings as Christmas season approaches. Health Secretary Francisco Duque 3rd said as agreed upon by the IATF-EID, Metro Manila is still under general com

VATICAN CITY: Pope Francis created 13 new cardinals on Saturday (Sunday in Manila), including the first African American — putting his personal stamp on the body that will one day choose his successor. Under the soaring dome of St Peter’s Basilica, the new “princes of the Church” knelt one by one at the feet of the 83-year-old pontiff, who placed the quadrangular scarlet cap, or biretta, on their heads. The diverse group — whose members hail from Italy, Malta, the Philippines, Chile, Brunei, Mexico and the United States — reflect not only the changing face of the church of 1.3 billion faithful but also the Jesuit pope’s belief in priests focused on the world’s poor. Archbishop Jose Fuerte Advincula The 72-year-old Archbishop of Washington, Wilton Gregory, said he was a “symbolic individual” for being made the first African American cardinal. Since Francis’ election in 2013, the Argentine pope — the first from the Americas — has created 95 new cardinals in ceremonies known as co

OPM icon April Boy Regino, born Dennis Regino Magloyuan Magdaraog, died on Sunday at the age of 51. His brother Vingo Regino confirmed the sad news in a Facebook post. “Nakakalungkot naman ang araw na ito…wala na ang Kuya April Boy ko,” he wrote without disclosing details on the cause of death. In 2014, April Boy quit show business after being diagnosed with prostate cancer. The next year, he said he was cancer-free but that he was diagnosed with diabetic retinopathy, which caused him to lose his sight on his left eye. Regino popularized the songs “Paano Ang Puso Ko,” “Umiiyak Ang Puso” and “Di Ko Kayang Tanggapin” in the 1990s and is known for his trademark caps. Source: ManilaTimes

Task Force Bangon Marawi (TFBM) Chairman Secretary Eduardo del Rosario again hit detractors of Marawi City’s rehabilitation project, who claim there is no significant development in rebuilding the war-battered city over the last three years. In his speech during the “kandori” or thanksgiving rites organized by the Marawi local government unit, del Rosario said critics will always see the negative. “Ang kanilang (detractors) mga sinasabi since day one ay pare-parehas pa rin. Kasi sa kanilang pananaw, walang nangyayari sa rehabilitation. Ay napaka-imposible po yata na i-accept ‘yan (What the detractors have been saying since day 1 has not changed. For them, there is no progress with the rehabilitation),” he said. He said that even if he were to bring the critics to see reconstruction efforts in the most affected area, they will never be satisfied. Del Rosario said the rehabilitation efforts were very systematic and based on a master plan to avoid accidents and conflicts. He thanked

SEN. Francis Pangilinan said the slow release of the remaining P70-billion Bayanihan funds will not only delay aid to individuals and sectors hit hard by the pandemic but also retard economic recovery. Pangilinan was reacting to the report of the Department of Budget and Management (DBM) that it has so far released only P92.3 billion of the P165.5-billion stimulus fund under the Bayanihan to Recover As One Act or Bayanihan 2. “This is unfortunate because while the funds are available, they could not immediately be felt by the people reeling from the impact of the Covid-19 pandemic,” he said on Sunday. “The urgency of the need of the Filipinos does not seem to match the sluggish movement of the government,” he said in a statement. Congress passed Bayanihan 2 and funded it with P165 billion for social amelioration, credit facility, and aid to displaced workers, including public utility vehicle drivers, among others. “If our people are able to recover economically, our country will a

Domestic animals that were abandoned in Barangay Taliptip in Bukakan, Bulacan were rescued by San Miguel Corporation (SMC) and Animal Kingdom AFTER providing new homes for former residents of Barangay Taliptip in Bulakan, Bulacan — future site of its P740-billion Manila International Airport project — San Miguel Corporation (SMC) is now helping rescue and relocate domestic animals that were abandoned in the area. SMC and animal welfare organization Animal Kingdom Foundation (AKF) have been working together to rescue some 70 abandoned or stray animals, mostly dogs, left at the site. Animal Kingdom is a non-profit, non-government organization dedicated to improving the welfare and living conditions of animals and eliminating the cruel trade of dog meat for human consumption in the country. Some 50 animals, consisting of dogs and cats, have been rescued. At least 20 more are set to be rescued from different sitios in the coming days. The rescued animals are brought to Animal Kingdo

Pagcor Chairman and CEO Andrea Domingo (center) grace the kick off ceremony of the country’s first OFW hospital in San Fernando, Pampanga. Other key government officials who were present in the event were (from left) Overseas Welfare Workers Association Administrator Hans Leo Cacdac, Presidential Spokesperson Secretary Harry Roque, Labor and Employment Secretary Silvestre Bello III, Pampanga Vice Governor Lilia Pineda, and Department of Health Undersecretary Dr. Lilibeth David. IT’S all systems go for the country’s first ever Overseas Filipino Workers (OFW) hospital here after a kickoff ceremony was held to officially mark the construction of the 100-bed hospital project. Set to rise on the two-hectare land from the provincial government of Pampanga, the construction of said health facility will be made possible with the P500 million donation of Bloomberry Cultural Foundation, Inc. (BCFI), an entity established by the operator of Solaire Resort and Casino. Pagcor Chairman and CEO

Toyota Rush line-up offers the Rush E grade with improved seating capacity — with three rows of seats now available. Local automotive leader Toyota Motor Philippines (TMP) has released the 2021 update of its popular entry-level SUV, the Toyota Rush. Retailing in Toyota’s 70 dealerships across the country starting November 26, the refreshed Rush line-up offers the Rush E grade with improved seating capacity — with three rows of seats now available. With this update, all Rush variants now come as seve 7-seater SUVs. One of the most well-received features of the G grade, the Reverse Camera, is also being made available to the E grade variants. “We at Toyota continuously listen to the requests of our customers to make improvements in our cars. The Rush is a favorite family vehicle, and with the Filipino’s close-knit and often extended family, we added the third row to bring the joy of moving together to more members,” said Sherwin Chualim, first vice president of TMP’s Vehicle Sales

THE popular traditional Chinese medicine (TCM) Lianhua Qingwen capsule is officially launched in the Philippine market through the efforts of Yiling Pharmaceutical and its exclusive Philippine distributor, Philippine Archipelago International Trading Corporation. Making it the first TCM to be registered as a traditionally used herbal product in the Philippines. During the product launch, Olivia Limpe-Aw, the president of Philippine Archipelago International Trading Corporation stated that “The Covid-19 Pandemic has brought to the fore the importance and significance of TCM and the significant role of Lianhua Qingwen in particular in the prevention, treatment and control of this global epidemic.” Lianhua Qingwen Capsule has been part of China’s standard therapy for mild and moderate coronavirus patients. It’s listed as a recommended medicine in the Diagnosis and Treatment Scheme of Novel Coronavirus Pneumonia (Versions #4-#8), issued officially by Chinese authorities. The results of

Photo shows: (firstt row) Deborah Tan, FVP for PLDT-Smart Enterprise Risk Management; Jane Basas, SVP and head of Consumer Business – Wireless at Smart; Mary Rose Dela Paz, chief procurement officer at PLDT-Smart; (2nd row) Gina Romero, CEO and co-founder of Connected Women; Ruth Yu-Owen, cofounder of Connected Women; Miriam Choa, FVP for Smart Prepaid Marketing; Cathy Yap-Yang, FVP for PLDT-Smart Corporate Communications TO help boost women empowerment in the new normal, PLDT wireless unit Smart Communications Inc. (Smart) has partnered with social impact start-up Connected Women for technology upskilling and livelihood opportunities for Filipino women across the country. With the goal of training over a thousand women by 2021, Connected Women’s Elevate AIDA (Artificial Intelligence Data Annotation) program offers online skills development and remote work opportunities in the artificial intelligence industry. Backed by UN Women, the 75,000 member-strong organization launched Conne

Makati Shangri-La AROUND this time of the year, Shangri-La Group’s hotels in the Philippines would normally have gathered to light up their Christmas trees set set amid festive decorations to welcome the yuletide season. Tradition takes a different turn in 2020 as Edsa Shangri- La, Makati Shangri-La, Shangri-La at the Fort, JEN Manila by Shangri-La, Shangri-La’s Boracay Resort and Spa and Shangri-La’s Mactan Resort and Spa, Cebu choose to celebrate the season by reaching out to local communities and honoring our frontliners — the enduring heroes of this generation. Shangri-La hotels in Makati, the Fort, Edsa and JEN Manila by Shangri-La have partnered with the Philippine Disaster Resilience Foundation (PDRF) for their Kaagapay Protect Our Healthcare Heroes Project. The Kaagapay Project was launched by the PDRF in April 2020 to help bring immediate aid to medical professionals and hospital workers who continue their relentless fight against the spread of Covid-19. A fundraising ini

DESPITE the many challenges that is currently happening within and outside the country, these wouldn’t stop the Filipinos from celebrating the annual Paskong Pinoy. Thus, Las Casas Filipinas de Acuzar opens its doors for a uniquely Filipino Christmas festivities in accordance to the government’s directives on physical distancing, wearing of masks and other safety precautionary measures. With minimal travel requirements such as health certificate, Get-Pass App QR Code and Confirmed Hotel Voucher, family and friends can simply enjoy the most wonderful time of the year and have their well-deserved secured stays at Las Casas over good food and fun activities. Set against its Filipino-Spanish restored houses, Las Casas will be having a tree lighting event on December 5, where they will officially start the countdown to Christmas as their Belen (Holy Family) and 24-ft Filipino-inspired tree, adorned with bamboo lanterns, take center stage and light up the skies. From December 1, 2020 to

Sun Life Philippines (Sun Life), in cooperation with Salcedo Auctions, presented Betsy Westendorp’s Limited Edition Giclée on Canvas collection in an effort to raise funds for those affected by the recent typhoons. The virtual art exhibit was open exclusively for select Sun Life clients who wish to purchase Betsy’s artworks at discounted prices and with all administrative fees waived. For every purchase made by clients, Sun Life will donate 5,000 to ABS-CBN Foundation’s Sagip Kapamilya. They are likewise welcome to donate directly to the organization. “Despite the current odds, Sun Life remains hopeful that there will be a better and brighter life after the storm. Betsy’s artworks reflect this hope and prods us to come together and alleviate the plight of our countrymen in need,” says Benedict Sison, Sun Life chief executive officer and country head. “This is just one way that Sun Life shows its relentless commitment to Filipinos as we celebrate our 125th anniversary in the Philippi

This 33-year-old entrepreneur is offering the public top-quality fragrances at affordable prices, based on his belief that customers deserve value for their hard-earned money. Ian Darcy Lumibao President Ian Darcy Oil-Rich Fragrance Scent of success Even from childhood, Ian Darcy Lumibao already suspected that entrepreneurship could lead to success in life. Taking his cue from his mother Zenaida, who ran a notary public business to support the family, he started selling bibingka (native rice cakes) to his playmates. “I charged them P1 per slice. When I won at street games, using teks or pogs (little game cards), I would sell these to them as well,” he smiles in recollection. While studying to get his degree in communication arts at Colegio de San Juan de Letran, Ian worked at a talent management agency as a coordinator, escorting models to their go-sees. This he did to be able to afford school supplies. He was the first in the family to earn a college degree. Quality product A

Over the course of two weeks, two devastating back to back typhoons hit the Philippines. On November 1st, Super Typhoon Rolly (Goni) the strongest typhoon ever recorded in recent history struck the southern region of the Philippines. An estimated two million Filipinos have been affected, many of whom lost their homes and livelihoods. Ten days later, Typhoon Ulysses (Vamco) swept through many of the same provinces previously devastated by Typhoon Rolly, including Metro Manila and parts of Central Luzon leaving widespread flooding and power outages. Many areas are still struggling to recover from the aftermath of these calamities. Homes and livelihood across various provinces were lost to floods, strong winds and rain. LGUs and other organizations continue to mobilize and provide assistance to all who were affected by these typhoons, but many are still in desperate need of help. In line with its mission to inspire creativity and bring joy, TikTok has pledged to donate $300,000 (approxi

The monument of national hero Andres Bonifacio is given a retouch on Nov. 27, 2020, ahead of his 157th birth anniversary on November 30. PHOTO BY RENE H. DILAN Source: ManilaTimes

Firemen spray water on burning homes at the NIA Village in Sauyo, Novaliches, Quezon City on Nov. 27, 2020. About 200 families were left homeless after the incident. PHOTO BY RUY MARTINEZ Source: ManilaTimes

San Juan City Mayor Francis Zamora inspects the Greenhills shopping mall on Nov. 27, 2020 to ensure tenants are practicing physical distancing and other health protocols to avoid Covid-19 infection among themselves and their shoppers especially during the holidays. PHOTO BY JOHN ORVEN VERDOTE Source: ManilaTimes

The country’s headline inflation could have eased to 2.4 percent or accelerated to 3.2 percent this month from 2.5 percent in October on higher oil and food prices, lower energy rates and a stronger peso, the Bangko Sentral ng Pilipinas (BSP) said on Friday. BSP Governor Benjamin Diokno. (Photo from the Bangko Sentral ng Pilipinas) “Higher domestic oil prices, as well as the impact of weather disturbances on the prices of rice and select agricultural commodities, contributed to upward prices pressures during the month,” BSP Governor Benjamin Diokno told reporters in a Viber message, ahead of the Philippine Statistics Authority’s release of official November inflation data on December 4. Local oil companies hiked the price of diesel and kerosene by 50 and 30 centavos per liter, respectively, on Tuesday, which Diokno said “could be partly offset by the downward adjustment of electricity rates in Meralco (Manila Electric Co.) serviced areas and the contributed appreciation of the pes

The Bank of the Philippine Islands (BPI) further downgraded its Philippine economic growth outlook this year after factoring in current and recent developments, including natural calamaties that struck the country in the last several weeks. BPI lead economist Emilio Neri In a report on Thursday night, BPI Vice President and lead economist Emilio Neri Jr. said the Ayala-led lender now forecast the country’s gross domestic product (GDP) to shrink by 11 percent for full-year 2020, worse than its earlier projection of a 9.3-percent contraction. BPI revised its outlook, he added, “mainly to take into account the [country’s] gradual recovery from the [coronavirus disease 2019 (Covid-19)] pandemic, the severe impact of recent typhoons and the underspending of the government.” The bank’s latest projection is worse than the government’s revised assumption of a 5.5-percent contraction for 2020. It is also worse than all the GDP estimates earlier compiled by The Manila Times: ING Bank Mani

After consulting with labor and employer groups, the Home Development Mutual Fund (Pag-IBIG Fund) has decided to postpone increasing its members’ monthly contributions in January out of consideration of the plight of both workers and business owners during the coronavirus disease 2019 (Covid-19) pandemic. Eduardo del Rosario. FILE PHOTO In a statement on Friday, Human Settlements Secretary Eduardo del Rosario announced the approval of the recommendation of the Pag-IBIG Fund management to move the implementation of the hike in the members’ monthly contributions from P100 to P150 to January 2022. The deferment also applies to the share of their employers. “After consulting with our stakeholders, we will no longer push through with the increase [in] members’ monthly contributions next year,” said del Rosario, also chairman of the 11-member Pag-IBIG Board of Trustees. “We know that many of our members and employers faced financial challenges in the last few months because of the effe