Philippine financial markets closed for Holy Week break
Published April 1, 2021 10:34am The Philippines financial markets are closed on Thursday and Friday, April 1 and 2, in observance of the Holy Week holidays. Trading on the Philippine Stock Exchange and spot transaction at the Bankers’ Association of the Philippines will resume on Monday, April 5, 2021. The benchmark PSE index closed at 6,443.09 on Wednesday, lower by 102.46 points or 1.57% as worries over the possible extension of the enhanced community quarantine in Metro Manila and its nearby provinces compelled investors to off-load positions ahead of the long Holy Week break. The Philippine peso, meanwhile, ended stronger against the US dollar by 1.5 centavos to P48.53:$1 from Tuesday’s finish at 48.545.
Local air carriers bat for increased accommodations for inbound passengers, nix cutdown on arrivals
Published March 17, 2021 2:46pm By TED CORDERO, GMA News The Air Carriers Association of the Philippines (ACAP) raised concern over the recent government decision to suspend the entry of foreign nationals and returning overseas Filipinos who are non-OFWs into the country and to limit the number of inbound international passengers to 1,500 a day, as this could further hurt the already distressed airline industry. During the Senate committee on banks and financial institutions’ hearing on the Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE) bill Wednesday, ACAP vice chairman Roberto Lim said the local aviation industry has incurred an estimated loss of P65 billion last year due to travel restriction amid the COVID-19 pandemic.
Cebu Pacific cancels Japan flights amid 1,500 int’l passengers/day cap at NAIA
Published March 17, 2021 4:06pm By TED CORDERO, GMA News Budget carrier Cebu Pacific on Wednesday announced it will be cancelling flights to and from Japan in compliance with the latest government directive limiting the number of inbound international passengers at the Ninoy Aquino International Airport (NAIA). In an advisory, Cebu Pacific said it will cancelling the following flights from March 18 to April 18, 2021: • Manila – Narita (Tokyo) – Manila • Manila – Nagoya – Manila “Affected passengers will be informed via contact details provided in the booking. Guests may select their preferred option through the Manage Booking portal on the Cebu Pacific website within 30 days from date of departure,” the airline said.
Ayala Land says it reached 91% carbon neutrality By TED CORDERO, GMA News
Published March 16, 2021 6:31pm Property giant Ayala Land Inc. said Tuesday it achieved 91% carbon neutrality in its commercial properties and was on track to achieve its 100% target by next year. In a statement, Ayala Land Estate Group head of Corporate Services Manny Blas explained that carbon neutrality meant that all of the greenhouse gases discharged by its malls, offices, hotels, and resorts because of its use of fossil fuels would be reduced and offset by the end of 2022 by “switching to renewable energy and nurturing and protecting 586 hectares of its land bank which it designated as a carbon forests.”
Staff Report
From around the globe to out your backdoor, here are the topics to keep you relevant and up-to-date.
Local News:
– Beginning yesterday on the NV side, businesses are able to up their capacity limits to 50% and public gatherings and events are now able to operate at 50% of their capacity or 250 people – whichever is less. For larger venues, they can submit a form to the Dept. of Business And Industry to get a variance and go bigger
– In somewhat of a surprise decision last week, Incline Village decided to cancel their Fourth of July fireworks this year citing high visitation last summer and current coronavirus trends