Category archive

News

Someone to watch over me

in World News

AMID the vast expanse of territorial sea waters that it protects and the country’s claims of some parts of the West Philippine Sea (WPS) being aggressively challenged, primarily by China, the Philippine Navy (PN) is stepping up its modernization program, boosted by the arrival of its first brand-new frigate almost two weeks ago.

The berthing of the first of the two South Korean-made combat ships at Subic Bay Freeport where it awaits christening into military service as the BRP Jose Rizal in a couple of days further assured the sustained flying of the country’s tricolor in the territory that is being contested by Manila’s other neighbors.

In this February 17, 2018, file photo, the aircraft carrier USS Carl Vinson anchors off Manila, along with guided-missile destroyer USS Michael Murphy.

Back then, when its keel was still being laid out in Ulsan, South Korea, by its contractor, the vessel had been

Read More: https://businessmirror.com.ph/2020/06/06/someone-to-watch-over-me/

Photo Credit: BusinessMirror

Protests eclipse pandemic, but White House fears resurgence

in World News

By Jonathan Lemire & Zeke Miller / The Associated Press

WASHINGTON—For weeks, President Donald Trump has been eager to publicly turn the page on the coronavirus pandemic. Now fears are growing within the White House that the very thing that finally shoved the virus from center stage—mass protests over the death of George Floyd—may bring about its resurgence.

Trump this week has eagerly pronounced himself the “President of law and order” in response to the racial unrest that has swept across the nation, overshadowing the pandemic that has claimed the lives of more than 105,000 Americans and imperiled his reelection prospects.

But political dangers for the president remain.

Thousands of Americans—many without protective face masks—have jammed the nation’s streets over the past week in defiance of social-distancing guidelines from governors and the Centers for Disease Control and Prevention. The White House coronavirus task force, which has dramatically scaled back its

Read More: https://businessmirror.com.ph/2020/06/06/protests-eclipse-pandemic-but-white-house-fears-resurgence/

Photo Credit: BusinessMirror

DTI-Export Marketing Bureau hails exporter-turned PPE maker

in World News

The Department of Trade and Industry-Export Marketing Bureau (DTI-EMB) hailed a local personal protective equipment maker for spearheading the PPE Bayanihan Project  for health-care frontliners.

Since the country has been under quarantine, all but essential businesses are closed, including leather goods manufacturer The Leather Collection (TLC).

The company, availing of business- matching services from the DTI-EMB, was already exporting their products. But they had to shut down operations due to the Covid-19 pandemic. Instead of being discouraged, TLC Chairman Federico Sevilla Jr., and Chief Executive Officer Yolanda Sevilla used the time to spearhead the PPE Bayanihan Project for health-care frontliners.

To date, they have donated over 15,000 PPEs (face shields, isolation gowns, and jumpsuits) to 82 hospitals, rural health units, and health centers in Metro Manila, Laguna, Batangas, Bulacan, Nueva Ecija, Antique, Quezon, Leyte and Bataan.

The PPE Bayanihan Project began when the Fashion Design and Merchandising School of the College of St. Benilde (St. Benilde FDM)

Read More: https://businessmirror.com.ph/2020/06/06/dti-export-marketing-bureau-hails-exporter-turned-ppe-maker/

Photo Credit: BusinessMirror

Cheap oil is one culprit as US chicken exports dip

in World News

American companies are shipping less chicken overseas, and cheap oil isn’t helping.

Profits from oil production in South American countries like Venezuela and Western African nations often translate into poultry purchases, said Russ Whitman, senior vice president at commodity researcher Urner Barry. Cuba, a major buyer of American chicken, will resell oil at a profit and buy poultry.

“When oil prices plummet the way they have, these countries can’t turn cash into food,” Whitman said.

Oil is just one factor compounding the anemic export environment. Weak currencies in Mexico and South America are hurting US meat exports. In recent weeks, China has slowed down purchases because of weak consumer demand, Sanderson Farms Inc. executives told analysts on a call to discuss financial results.

The Asian behemoth had been buying up significant amounts of poultry and pork, but now there’s oversupply as restaurants in the newly reopened, post-Covid-19 economy struggle to

Read More: https://businessmirror.com.ph/2020/06/06/cheap-oil-is-one-culprit-as-us-chicken-exports-dip/

Photo Credit: BusinessMirror

Firms told: Tap rising global halal market amid contagion

in World News

Local entrepreneurs are encouraged to tap the growing global market for halal food products, amid rising demand in time of coronavirus disease 2019 (Covid-19).

“Fortunately for the halal industry and in particular in the food sector, halal food is rising in popularity amid Covid-19…,” Department of Trade and Industry (DTI) Undersecretary for Trade Promotions Group (TPG) Abdulgani Macatoman said in a webinar.

Citing a report, Macatoman said concerns over the risk of the coronavirus accordingly had contributed to an increase in people’s awareness about the importance of consuming halal and hygienic foods.

Leany Mokhtar, senior manager of MATRADE’s halal of food and beverage (F&B) and agro-based section, said halal promotes cleanliness to people so the “adoption of halal would be greater than before.”

“Halal does not contain any substance that is considered impure in Islamic law. [It] is not prepared, processed, or manufactured using equipment or utensils that are not

Read More: https://businessmirror.com.ph/2020/06/06/firms-told-tap-rising-global-halal-market-amid-contagion/

Photo Credit: BusinessMirror

A ‘unique’ engine is bringing power to a remote PHL island

in World News

AN Israeli start-up is hoping a new engine design can help bring power to remote outposts in Asia.

Aquarius Engines Ltd. announced a partnership with Nokia Oyj on Monday and plans to begin field tests in the Philippines this year for a small-scale electrical generator using its unique low-maintenance design.

The company is targeting far-flung locations in Asia to power remote populations and telecommunications centers. The field test in the Philippines is expected to begin this year and run several months, providing the company with feedback as it prepares for mass production, said Gal Fridman, Aquarius’s chairman.

The generators can power commercial and industrial sectors that need around-the-clock electricity in remote spots, or help support wind and solar generation when the sun goes down, or breezes halt. It underscores the increased attention businesses are paying to off-grid power, which drew nearly $1 billion in corporate investments during the previous two years

Read More: https://businessmirror.com.ph/2020/06/06/a-unique-engine-is-bringing-power-to-a-remote-phl-island/

Photo Credit: BusinessMirror

Downsized. simplified. different.

in World News

By Stephen Wade / The Associated Press

TOKYO—The Japanese public is being prepared for the reality of next year’s postponed Olympics, where athletes are likely to face quarantines, spectators will be fewer, and the delay will cost taxpayers billions of dollars.

In the last several weeks, International Olympic Committee (IOC) President Thomas Bach has given selected interviews outside Japan and hinted at empty stadiums, quarantines and virus testing.

IOC member John Coates, who oversees Tokyo preparations, said a few weeks ago in Australia that the Tokyo Olympics face “real problems,” partially because of the numbers involved: 15,400 Olympic and Paralympic athletes to start with, and then staff, officials, media and up to 80,000 volunteers.

The stark message about a very different, reduced Olympics is now being floated in Japan by politicians, and in unsourced news stories. The themes include the possibility of reduced seating at the Olympics—if any fans at

Read More: https://businessmirror.com.ph/2020/06/06/downsized-simplified-different/

Photo Credit: BusinessMirror

Nadal reluctant on U.S. Open campaign

in World News

IF it weren’t for a pandemic-caused postponement, the French Open would have been in Week 2 now, and Rafael Nadal might still have been in contention for a 20th Grand Slam title. Instead, he’s home in Spain, practicing lightly—and wondering along with everyone else in tennis whether the next Grand Slam tournament, the US Open, will be held.

And if it is, would he play?

“If you [ask] me today, today I will say, ‘No,’” Nadal said with a shake of his head during a videoconference call with The Associated Press and other wire services Thursday.

“In a couple of months? I don’t know. Hopefully, ‘Yes,’” he continued. “But we need to wait probably until we have more clear information about how the virus evolves and how the situation is going to be in New York in a couple of months. Because, of course, New York has been one of

Read More: https://businessmirror.com.ph/2020/06/06/nadal-reluctant-on-u-s-open-campaign/

Photo Credit: BusinessMirror

Everyone’s concerned as Messi misses one practice

in World News
Could Lionel Messi’s injury be that bad?

MADRID—One missed practice was enough to raise concerns about Lionel Messi.

Messi’s presence in next week’s return of the Spanish league was put in doubt by some Barcelona media after he trained separately from the group on Wednesday.

Even though Barcelona said there was no reason to worry about Messi, and that he simply underwent an alternative training program in the gym, some reports said there could be more to it.

Catalan channel TV3 said Messi has a minor thigh muscle problem that could keep him from being ready to play in Barcelona’s June 13 match at Mallorca, the team’s first since the league was halted nearly three months ago because of the coronavirus pandemic.

TV3 said late Wednesday that Messi underwent tests to determine the real extent of the injury. Barcelona did not confirm Messi had

Read More: https://businessmirror.com.ph/2020/06/06/everyones-concerned-as-messi-misses-one-practice/

Photo Credit: BusinessMirror

Paris 2024 organizers acknowledge ‘shift in approach’ due to Covid-19

in World News

ORGANIZERS of the Paris 2024 Olympic Games acknowledged a “shift in approach” as a result of the coronavirus pandemic.

At a virtual meeting with the International Olympic Committee (IOC) Coordination Commission on Thursday, Paris 2024 organizers said their new approach was partly as a result of a letter from IOC President Thomas Bach in April, when he called on the Olympic Movement to “look more closely at the proliferation of sports events” in future.

The IOC said following the meeting they believed Paris 2024’s preparations were “innovative and responsible,” while they also used the meeting to express to organizers their sympathies for the challenges faced by France as a whole.

Paris 2024 President Tony Estanguet echoed Bach’s sentiments following the IOC head’s letter, calling for all parties involved in delivering Paris 2024 to look for “creative and sustainable optimizations,” a vision supported by the Coordination Commission.

Paris 2024 organizers gave

Read More: https://businessmirror.com.ph/2020/06/06/paris-2024-organizers-acknowledge-shift-in-approach-due-to-covid-19/

Photo Credit: BusinessMirror

In virus-hit South Korea, AI monitors lonely elders

in World News

By Kim Tong-Hyung / The Associated Press

SEOUL, South Korea—In a cramped office in eastern Seoul, Hwang Seungwon points a remote control toward a huge Nasa-like overhead screen stretching across one of the walls.

With each flick of the control, a colorful array of pie charts, graphs and maps reveals the search habits of thousands of South Korean senior citizens being monitored by voice-enabled “smart” speakers, an experimental remote care service the company says is increasingly needed during the coronavirus crisis.

“We closely monitor for signs of danger, whether they are more frequently using search words that indicate rising states of loneliness or insecurity,” said Hwang, director of a social enterprise established by SK Telecom to handle the service. Trigger words lead to a recommendation for a visit by local public health officials.

As South Korea’s government pushes to allow businesses to access vast amounts of personal information and to

Read More: https://businessmirror.com.ph/2020/06/06/in-virus-hit-south-korea-ai-monitors-lonely-elders/

Photo Credit: BusinessMirror

Senators commit early approval of CREATE bill, but vow close scrutiny

in World News

The Senate on Friday committed to frontload passage of the second tax reform package, now known as Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) upon resumption of session in July, but explained that the bill needed thorough discussions that their June 5 deadline could not allow.   

“While we see the merits of the measure, we are also committed to ensuring that the best version of the bill should pass the Senate—one that is truly responsive to the extraordinary needs of our time,” said the statement signed by 15 senators led by Senate President Vicente Sotto III a day after the chamber adjourned.

Congress is on break until July 27, when the President is to deliver his State of the Nation Address (SONA).

The 15 senators gave the commitment, through the office of Majority Leader Juan Miguel Zubiri, a day after more than a dozen former economic managers

Read More: https://businessmirror.com.ph/2020/06/05/senators-commit-early-approval-of-create-bill-but-vow-close-scrutiny/

Photo Credit: BusinessMirror

Fulfill deliverables under Bayanihan to Heal as One Act – Bong Go to Executive

in World News

SENATOR Christopher Lawrence “Bong” Go is urging the Executive department to ensure that the objectives and commitments under the Bayanihan to Heal as One Act (Bayanihan 1) will be fulfilled. 

Halos tatlong buwan na ang nakalipas mula ng ipinasa ang Bayanihan to Heal as One Act.  Pinaghirapan nating maipasa iyon [It’s been almost three months since we passed it; we worked hard for its approval],” Go, who also sits as a member of the Joint Congressional Oversight Committee on the implementation of the Bayanihan to Heal as One Act, said.

He said, in a mix of English and Filipino, that lawmakers “had trusted that the agencies will do their best to help people within that limited period that the law is in effect. Now that we’re talking about the Bayanihan to Recover as One Act or Bayanihan 2 Act, it’s unacceptable that what should have been given then are still not

Read More: https://businessmirror.com.ph/2020/06/05/fulfill-deliverables-under-bayanihan-to-heal-as-one-act-bong-go-to-executive/

Photo Credit: BusinessMirror

May inflation slows further to 2.1% on weak demand, cheap oil prices

in World News

CHEAP oil prices and weak demand caused inflation to slow further in May, according to the Philippine Statistics Authority (PSA).

Data showed inflation averaged 2.1 percent in May, slower than the 2.2 percent in April and 3.2 percent posted in May 2019. Inflation in the first five months of the year averaged 2.5 percent.

PSA said primary reasons for the slower inflation is the 28.8-percent deflation recorded in petroleum and fuels for personal transport equipment; the 2.7-percent deflation of rice prices; and 3-percent growth of garments.

“What we are looking at are prices, so we are scouting for prices so our basis for the inflation computation are really the prices,” National Statistician Claire Dennis S. Mapa said in an online briefing on Friday.

“We can surmise that perhaps there’s a slow demand on this side. Right now, what we are seeing are just simply the movement in the prices and

Read More: https://businessmirror.com.ph/2020/06/05/may-inflation-slows-further-to-2-1-on-weak-demand-cheap-oil-prices/

Photo Credit: BusinessMirror

Factory output hits 2-decade low in April on impact of lockdown 

in World News

THE country’s factory output plunged to its lowest in nearly 20 years, according to the Philippine Statistics Authority (PSA).

Based on the results of the Monthly Integrated Survey of Selected Industries (MISSI), the country’s Volume of Production Index (VoPI) shrank 59.8 percent in April, the largest contraction since 2001.

The PSA said the Value of Production Index for Manufacturing sector also plummeted to 61.4 percent in April 2020, also the highest recorded annual decrease in VaPI since 2001.

“The preliminary results of the April 2020 Monthly Integrated Survey of Selected Industries or MISSI show that manufacturing, both volume and value indices, fell significantly. All manufacturing subsectors posted double-digit negative growth rates in April 2020 given the imposition of community quarantines. As we shift from ECQ to GCQ, we will be seeing improvements in the succeeding months,” Socioeconomic Planning Secretary Karl Kendrick T. Chua said in an online briefing on Friday.

Read More: https://businessmirror.com.ph/2020/06/05/factory-output-hits-2-decade-low-in-april-on-impact-of-lockdown/

Photo Credit: BusinessMirror

House approves P1.5-trillion CURES bill to boost infra spending in countryside

in World News

The House of Representatives on Friday passed on third and final reading another stimulus package worth P1.5 trillion that will focus on infrastructure spending and create more jobs in the countryside.

Voting 210 affirmative and 7 negative, the lawmakers  passed  House Bill 6920,  or  the Covid-19 Unemployment Reduction Economic Stimulus (CURES) Act of 2020. 

  In news statement, Deputy Speaker Luis Raymund Villafuerte, one of the principal authors of the bill, said the approved measure designed to be a three-year stimulus to set the stalled economy back on its high-growth path  and initial boost as well for President Duterte’s new initiative to decongest Metro Manila. 

 The bill, which was also co-authored by  Speaker Alan Peter Cayetano along with 212 more legislators, seeks to further raise state spending on health,  education,  agriculture,  local roads, livelihood, information and communication technology (ICT) and tourism  (HEAL IT) infrastructure.

“This measure aims to blunt the

Read More: https://businessmirror.com.ph/2020/06/05/house-approves-p1-5-trillion-cures-bill-to-boost-infra-spending-in-countryside/

Photo Credit: BusinessMirror

Jobless rate rises to 17.7% in April, swelling unemployed ranks by 5 million

in World News

THE bad news was expected, but when it came, it beat even the worst forecasts: at least 5 million Filipinos lost their jobs in April due to the imposition of quarantine restrictions to contain the spread of the Covid-19 pandemic, according to the Philippine Statistics Authority (PSA), citing a survey it conducted.

Its April Labor Force Survey (LFS) showed the number of jobless Filipinos ballooned to 7.254 million in 2020 from 2.267 million in the same period in 2019.

This represented a 220-percent increase in the number of unemployed Filipinos. A total of 4.987 million were added to the existing number of the unemployed.

“Let us remember that we made the difficult decision to implement the ECQ because we resolved to save lives and prioritize the health of our fellow Filipinos, including our family and friends,” Socioeconomic Planning Secretary Karl Kendrick T. Chua said in a briefing after the PSA

Read More: https://businessmirror.com.ph/2020/06/05/jobless-rate-rises-to-17-7-in-april-swelling-unemployed-ranks-by-5-million/

Photo Credit: BusinessMirror

Maynilad, Manila Water told: Repay customers even on installment

in World News

PRESIDENT Duterte said he is willing to allow Maynilad Water Services Inc. and Manila Water Co. Inc. to pay their customers in installments for compensation that the government claims the private concessionaires owe the public.

“I am already okay as long as we could get back the cash they owe to the people even if it is [in] installments,” Duterte said in a public address, which was aired on Friday, but was video recorded the day before.

He said the installment payments could even last for a year as long as both water concessionaires make “amends to their customers.”

The public address came as the justice department rushed to finish a Palace-mandated review of the service contracts, which became the object of the President’s ire as a result of two developments—a severe water crisis in early 2019, and the successive, but separate victories of the private concessionaires, in suits they

Read More: https://businessmirror.com.ph/2020/06/05/maynilad-manila-water-told-repay-customers-even-on-installment/

Photo Credit: BusinessMirror

Salceda warns of ‘potentially deep troubles ahead’ if Congress fails to pass CREATE bill

in World News

By Jovee Marie N. Dela Cruz & Butch Fernandez

House Committee on Ways and Means Chairman and Economic Stimulus Cluster co-chairman Joey Sarte Salceda has warned the government of “potentially deep troubles ahead” if it is unable to pass a meaningful stimulus plan and the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act early within the next half.

Salceda said the 7.3 million jobs losses in April 2020 are worse than projected.

“Although the jobless figures say you have 5 million more unemployed workers, the problems could actually be bigger, as you had almost 8 million fewer workers who were employed in April 2020 compared to April 2019. Most of them were in the services sector,” Salceda said, citing PSA data that shows that there were 5.34 million fewer employed persons in the services sector.

“Much of the figures in the services sector, of course, are attributable to the

Read More: https://businessmirror.com.ph/2020/06/05/salceda-warns-of-potentially-deep-troubles-ahead-if-congress-fails-to-pass-create-bill/

Photo Credit: BusinessMirror

‘Pandemic’s job-hunting season timing worsened jobless numbers’

in World News

THE Covid-19 crisis hit the country’s work force when it hurt the most: the job hunting season of new graduates.

This, the Department of Labor and Employment (DOLE) said, compounded the impact of the over a month-long enhanced community quarantine of Luzon as of April, leading to the to sky-rocketing unemployment rate of 17.7 percent as announced by the Philippine Statistics Authority (PSA).

“The lockdown during the community quarantine from March to May, which is supposed to be the period for job hunting of our fresh graduates, has put the labor force in a standstill as two-thirds of the economy is shut down,” Labor Secretary Silvestre H. Bello III said in a news statement.

He noted PSA’s recently reported 17.7-percent unemployment rate during the period, which translates to 7.3 million unemployed, surpassed the 10-percent unemployment rate in the 1998 recession in the Philippines.

The labor chief said they hope unemployment

Read More: https://businessmirror.com.ph/2020/06/05/pandemics-job-hunting-season-timing-worsened-jobless-numbers/

Photo Credit: BusinessMirror

PHAP to government: Defer order to cut retail price of medicines

in World News

The Pharmaceutical and Health-care Association of the Philippines (PHAP), citing the economic impact the virus pandemic, is appealing to the government to defer the implementation of an executive order (EO) that mandates a 50 percent slash on the prices of medicines for top burden diseases.

EO 104,  also known as  “Improving Access to Healthcare through the Regulation of Prices in the Retail of Drugs and Medicines,”  sets the maximum retail prices (MRP) of 87 medicines, or 133 formulations, for hypertension, diabetes, breast, colorectal and lung cancers, chronic kidney disease, and asthma/chronic obstructive pulmonary disease (COPD).

In a news statement, PHAP said on Friday that the implementation of price cuts comes at a critical period  when companies and the  country must start economic recovery, saying challenges  in logistics, global competition for supplies, and  stockpiling, have led to  unforeseen and unplanned expenses impacting operations.

“From keeping manufacturing plants,  warehouses, and retail  stores

Read More: https://businessmirror.com.ph/2020/06/05/phap-to-government-defer-order-to-cut-retail-price-of-medicines/

Photo Credit: BusinessMirror

Lawmakers in 8 countries form new alliance to counter China

in World News

A group of senior lawmakers from eight democracies including the US have launched a new cross-parliamentary alliance to help counter what they say is the threat China’s growing influence poses to global trade, security and human rights.

The Inter-Parliamentary Alliance on China, which launched Friday, comes as the US struggles to muster a cohesive alliance to take on China’s growing economic and diplomatic clout and as it leads foreign governments in condemning Beijing’s move to impose national security legislation on Hong Kong that threatens the city’s autonomy.

The group said it aims to “construct appropriate and coordinated responses, and to help craft a proactive and strategic approach on issues related to the People’s Republic of China.” US Republican Senator Marco Rubio and Democrat Bob Menendez, former Japanese defense minister Gen Nakatani, European Parliament foreign affairs committee member  Miriam Lexmann  and prominent UK Conservative lawmaker Iain Duncan Smith are all co-chairs

Read More: https://businessmirror.com.ph/2020/06/05/lawmakers-in-8-countries-form-new-alliance-to-counter-china/

Photo Credit: BusinessMirror

47 ex-NPA rebels in Soccsksargen get E-CLIP aid

in News

The Provincial capitol building of South Cotabato. (File photo courtesy of the provincial government)

GENERAL SANTOS CITY – A total of 47 former New People’s Army (NPA) rebels from various parts of Soccsksargen have received around PHP4 million worth of livelihood and financial assistance through the government’s reintegration program.

Rudy Jimenea, chief executive assistant of South Cotabato Gov. Reynaldo Tamayo Jr., said Friday each of the returnees received PHP65,000 in assistance as part of the support packages under the Enhanced Comprehensive Local Integration Program (E-CLIP).

Jimenea said the PHP50,000 is for the livelihood grant while the additional PHP15,000 represents the initial cash assistance.

The benefits are on top of PHP21,000 reintegration assistance for each returnee that is coursed through their receiving units under the Philippine National Police and the Armed Force of the Philippines, he said.

The assistance was released to the beneficiaries on Thursday in a ceremony held at the South Cotabato Gymnasium and Cultural Center in Koronadal City.

“This is part of the provincial government’s commitment to assist the reintegration of the returning rebels in local communities,” Jimenea said in a statement.

He said the local government, through Tamayo, has been working to complement these efforts by ensuring the proper delivery of basic services to residents in the entire province.

The official cited the free hospitalization and education programs initiated by the current provincial administration.     

To enhance the free hospitalization program, Jimenea said the local government will soon offer free dialysis services, with the purchase of 10 units of dialysis machines now under the bidding process.  

He said they will continue this year the upgrading of road networks to far-flung barangays and the underserved communities.

“There is no more reason for them to go back to the (mountains),” he added.

Majority of the recipients, most of whom are indigenous peoples, were from South Cotabato province while the others were from Sarangani and Sultan Kudarat who chose to surrender in the province last year. (PNA)

Photo Credit: Philippine News Agency

Japan’s FM Aso: ‘Cultural standard’ helped beat virus

in World News

Japan’s success against the coronavirus without enforcing a strict lockdown is due to the citizens’ “cultural standard” that is different from other nations, Finance Minister Taro Aso said, drawing criticism from the public that the comments were inappropriate.

“Other countries have called me up and asked me if we’re the only ones with some drug against the virus or something,” Aso said on Thursday in response to a question from a lawmaker on Japan’s reputation of successfully containing the pandemic. “When I tell them ‘our country’s cultural standard levels are different to yours,’ they’re left speechless. That’s the simplest way to put an end to the questions.”

Aso’s remarks, which elicited laughs at the committee meeting, were made in the context of Japan’s inability to enforce a hard lockdown due to civil liberties enshrined in the postwar constitution.

Japanese officials were only able to ask for people to stay home

Read More: https://businessmirror.com.ph/2020/06/05/japans-fm-aso-cultural-standard-helped-beat-virus/

Photo Credit: BusinessMirror

UK summit calls for freely available Covid-19 vaccine

in World News

LONDON—A vaccine summit has raised billions of dollars to immunize children in developing countries as experts wrestled with how any potential vaccine against the coronavirus might be distributed globally—and fairly.

The United Nations and the International Red Cross and Red Crescent Movement have urged that “a people’s vaccine” be developed for Covid-19 that would be freely available to everyone, calling it a “moral imperative.”

Thursday’s event hosted by Britain raised $8.8 billion, exceeding its target, for the vaccines alliance GAVI, which says the funds will be used to vaccinate about 300 million children in dozens of countries against diseases like malaria, pneumonia and HPV.

GAVI also announced a new “advance market commitment” mechanism to enable developing countries to get any effective Covid-19 vaccine when available. It hopes to raise an additional $2 billion for that effort, to immunize health-care workers as well as high-risk individuals and create a buffer of

Read More: https://businessmirror.com.ph/2020/06/05/uk-summit-calls-for-freely-available-covid-19-vaccine/

Photo Credit: BusinessMirror

Australia to toughen foreign investment laws amid diplomatic spat with Beijing

in World News

Australia will implement a tough new screening regime on foreign investors seeking to buy sensitive assets, as it bids to bolster national security amid a diplomatic row with China.

Telecommunications, energy, technology and defense-manufacturing companies will be included in the zero-dollar threshold for screening. The changes, intended to be legislated this year and enforced from January 1, will include a new national security test and give the treasurer last-resort powers to force asset sales.

The changes could have implications on Australia’s relationship with its largest trading partner China, which have soured this year after Prime Minister Scott Morrison led calls for an independent probe on the origins of the coronavirus in Wuhan.

Beijing responded with verbal attacks on the conservative government, saying it was doing the bidding of key ally, the US, while new tariffs on Australian barley and a ban on beef from four meat works have raised fears

Read More: https://businessmirror.com.ph/2020/06/05/australia-to-toughen-foreign-investment-laws-amid-diplomatic-spat-with-beijing/

Photo Credit: BusinessMirror

1 2 3 4 5 6 2,109
Go to Top